Slide 1: KemPharm Q4 and FY 2021 Results Call
| a KemPharm Q4 and FY 2021 Results Call March 30, 2022 “a Trademarks herein are held by their respective owners.
Slide 2: Cautionary Note Regarding Presentation Information
Cautionary Note Regarding Presentation Information This presentation may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements include all statements that do not relate solely to historical or current facts, includin
Slide 3: Innovative pharmaceutical company for CNS and rare diseases
Innovative pharmaceutical company discovering and developing novel treatments for CNS and rare diseases
Slide 4: FY 2021 Year in Review: KemPharm's Transformation
FY 2021 Year in Review: KemPharm’s Transformation Corporate and Regulatory Highlights Financial Highlights Jan 8: Regained|isting on The Nasdaq Capital Market Jan 8: Complete $50M secondary offering Mar 2: FDAapproval of AZSTARYS® Jan 12: Repaid $30.3M in debt, converted $31.5M into preferred shares
Slide 5: KemPharm: Q4 2021 and Recent Highlights
KemPharm: Q4 2021 and Recent Highlights v KP1077: Substantial high-value opportunity with significant unmet need v “Higher Dose” SDX data suggest targeted pharmacodynamic effects that could benefit Initiation of patients with IH and other sleep disorders KP1077 Development ¥ Continuing efforts to bu
Slide 6: Pipeline of Product Candidates with Substantial Milestones in 2022 and Beyond
Pipeline of Product Candidates with Substantial Milestones in 2022 and Beyond 1g of Next Milestone Product Candidate Phase of Development Rare Sleep Disorders Idiopathic Hypersomnia (IH) KP1077 Phase 2 Q3 2022 Narcolepsy Type | and Il KP1077 Phase 2 Q4 2022 Sleep Disorders TBD Indicensinggacauisitio
Slide 7: SDX Product Candidate: KP1077
SDX Product Candidate: KP1077 For the Treatment of Idiopathic Hypersomnia (IH)
Slide 8: Idiopathic Hypersomnia (IH)
Idiopathic Hypersomnia (IH) * There are 10.3 IH patients per 100,000 people in the US" © ~37,000 diagnosed IH patients actively seeking treatment? o Patient population may be much larger (not seeking treatment, undiagnosed, misdiagnosed) + Symptoms are highly debilitating — IH can be more debilitati
Slide 9: KP1077 Product Candidate Overview
KP1077 Product Candidate Overview + 100% Serdexmethylphenidate (SDX) productwith multiple dosing options depending on patient needs o Dosed either QD (1x daily at bedtime) or BID (2x daily at bedtime and upon waking) Features and benefits already demonstrated: o SDX has already been designated C-IV
Slide 10: MOA and Trial Data Suggest KP1077 is Well Positioned to Demonstrate Efficacy
MOA’ and Trial Data Suggest KP1077 is Well Positioned to Demonstrate Efficacy + Ritalin and Ritalin SR (racemic methylphenidate) are Drowsiness/Alertness VAS? indicated to treat narcolepsy? (bipolar scale: 0 to 100) + Methylphenidate-based products have demonstrated some efficacy in treating excessi
Slide 11: KP1077 Could Capture a Large Share of the IH Market
KP1077 Could Capture a Large Share of the IH Market Based on Potential Clinical Differentiation and Combination Use Illustrative Market Share + Itis estimated that ~37K patients are currently diagnosed with IH and actively based on Potential seeking treatment! Differentiation + Xywav® received FDA a
Slide 12: Business Development Focus
Business Development Focus - Maximizing Value Potential of SDX - Pipeline Additions Through In-Licensing
Slide 13: Platform Potential of SDX
Platform Potential of SDX + The properties of SDX opens the door to explore indications outside ADHD and IH: o The only C-IV methylphenidate-based product; all others are C-II o Unique PK profile allowing for gradual and continuous release throughoutthe day o Currently, no generic equivalent for SDX
Slide 14: Pipeline Expansion Strategy to Accelerate Value Creation
Pipeline Expansion Strategy to Accelerate Value Creation + Currently reviewing several earlier stage internal programs as potential lead candidates to add to the development pipeline + External focus is primarily within the broad CNS/rare diseases space, with a particular focus on rare diseases or n
Slide 15: AZSTARYS
AZSTARYS® D-Methylphenidate Prodrug Product for the Treatment of ADHD
Slide 16: AZSTARYS - U.S. Commercialization Moving Forward as Expected
ASTARYS® - U.S. Commercialization Moving Forward as Expected + Full national field team staffing in place; national rollout underway o As of April 2022, the AZSTARYS field sales team will have doubled in size to 90 from 45 at year end 2021 = Added approximately 700 new prescribers during the first 2
Slide 17: Financial Update
Financial Update
Slide 18: Q4 and FY 2021 Results; Financial Position is a Source of Strength
Q4 and FY 2021 Results; Financial Position is a Source of Strength * Q4 2021 revenue of $2.6M and FY 2021 revenue of $28.7M, derived primarily from royalties and consulting service fees * Q4 2021 net loss ($2.7M), or ($0.08) per share, and FY 2021 net loss attributable to common stockholders of ($62
Slide 19: Upcoming Clinical, Reg and BD Milestones Create Potential Near-Term Value
Upcoming Clinical, Reg and BD Milestones Create Potential Near-Term Value Milestone Q12022 Q2 2022 Q3 2022 Q4 2022 Q12023 Q2 2023 KP1077 for IH Type B meeting with FDA ] IND filing/may proceed | Phase 1 CV differentiation trial Phase 2 trial KP1077 for Narcolepsy Type B meeting with FDA IND filing P
Slide 20: KemPharm: Development Activity Ramping Up in FY 2022
¥ Continuing efforts to build a highly differentiated pipeline of developmentassets KemPharm: Development Activity Ramping Up in FY 2022 v Focusedon high-value areas with significant unmet needs in CNS/rare disease with Pipeline potential to internally commercialize v IND filing as early as Q2 2022
Slide 21: KemPharm: Leveraging our LAT Prodrug Technology to Create Long-Term Value
ee | a KemPharm Leveraging our LAT® Prodrug Technology to Create Long-Term Value For additional information please contact: Jason Rando jrando@tiberend.com