Slide 1: Nicox Corporate Presentation
Nicox Corporate Presentation An international ophthalmology company developing innovative solutions to help maintain vision and improve ocular health August 21, 2025
Slide 2: Forward-Looking Statements
Forward-Looking Statements This document has been prepared by Nicox SA and may not be reproduced or distributed, in whole or in part. The information contained in this document has not been independently verified and no representation, warranty or undertaking, expressed or implied, is made as to, an
Slide 3: Nicox at a glance
B} Nicox at a glance Late-stage program in glaucoma with NDA? filing targeted for H1 2026 4 Commercial- stage assets and R&D collaborations already in place Global reach with top tier worldwide licensees @ Significant market opportunity - 80 million glaucoma patients worldwide? oo00 I) nicox ©
Slide 4: Latest News — Denali Phase 3 Trial — Topline Results
Latest News — Denali Phase 3 Trial — Topline Results nicox © visible science Press Release Nicox Announces Positive Results from the NCX 470 Phase 3 Denali Trial in Glaucoma Patients le ral a x ) g 4 e Achieving the primary endpoint in both Denali and the first NCX 470 Phase 3 trial, Mont Blanc, mee
Slide 5: ral
le ral a x ) g 4 > Vv Vv Vv Asset NCX 470 A differentiated profile targeting ~$7bn worldwide glaucoma market, 80 million patients Positive results from two Phase 3 trials, Mont Blanc! and Denal? demonstrating competitive Intraocular Pressure (IOP) Lowering properties Whistler exploratory trial resul
Slide 6: Upcoming Milestones
Upcoming Milestones NCX 470 “ U.S. NDA submission expected in H1 2026 “ China NDA submission to follow ZERVIATE “+ Recurrent revenue in U.S. and China Corporate * Potential NCX 1728 license option exercise by Glaukos * Exploring future growth opportunities nicox ©)
Slide 7: Revenue Sold to Soleus Capital in October 2024
Revenue Sold to Soleus Capital in October 2024 First Commercial Sale in China in Q4 2024
Slide 8: Glaucoma: a Worldwide Ophthalmic Condition with Unmet Medical Needs
Glaucoma: a Worldwide Ophthalmic Condition with Unmet Medical Needs Elevated IOP* Contributes to Irreversible Optic Nerve Damage, Leading to Progressive Vision Loss normal aqueous humor outflow vitreous anterior chamber ens —+ optic nerve head chamber posterior chamber healthy eye damage to the opti
Slide 9: Unmet Medical Needs for Glaucoma Treatment
Unmet Medical Needs for Glaucoma Treatment Y¥ 40% of patients do not achieve their target IOP on existing monotherapies' V Tolerability issues with some medications lead to discontinuations, Despite having well established first-line therapies, including the standard-of-care, latanoprost, patients d
Slide 10: Value Proposition of NCX 470
Value Proposition of ¥_ Novel molecule with powerful IOP Lowering NCX 470 efficacy. High IOP is the leading cause of WH glaucoma Vv Positive pivotal Phase 3 topline results from the Mont Blanc'?? and Denali‘ trials Vv First non-combination product to demonstrate statistical non-inferiority to a pros
Slide 11: NCX 470 Timing
NCX 470 Timing A Near-Term Asset Preparing for NDA filing in US and China August 2025 H1 2026 H1 2027 Topline Results of Submission of New Approval and Denali Phase 3 Drug Application Launch in the Clinical Trial in the United United States States * Composition of matter patent to 2029 expected to b
Slide 12: NCX 470 Lowers IOP Through a Validated Dual Mechanism Pathway
NCX 470 Lowers IOP Through a Validated’ Dual Mechanism Pathway Clinically Validated in Two Phase 3 trials, and Dual Mechanism Proven in a Phase 2b Two Pathways for Aqueous Humor Outflow anterior chamber EMS—* | * chamber posterior chamber Whistler Phase 2 tral Primary or conventional outflow normall
Slide 13: NCX 470 Clinical Program
NCX 470 Clinical Program Intended to Support U.S. & China NDA Submissions Designed to demonstrate safety and efficacy of NCX 470 0.1% vs. Latanoprost 0.005%, Phase 3 studies evaluated reduction of IOP from time-matched baseline at pre-established time points MONT BLANC: Primary Objective of DENALI:
Slide 14: Mont Blanc and Denali trial design
1. This schematic reflects the dosage arms which continued in the trial and do not include the NCX 470 0.065% dose which was only in the adaptive design portion of the Mont Blanc trial
Slide 15: IOP-Lowering from Baseline vs. latanoprost
• NCX 470 0.1%: N = 328 Latanoprost 0.005%: N = 333 • NCX 470 0.1%: N = 348 Latanoprost 0.005%: N = 348 • IOP-Lowering from Baseline was 8.0 to 9.7 mmHg for • IOP-Lowering from Baseline was 7.9 to 10.0 mmHg for NCX 470 vs. 7.1 to 9.4 mmHg for latanoprost NCX 470 vs. 7.1 to 9.8 mmHg< for latanoprost
Slide 16: Mont Blanc and Denali efficacy data
• • • • 1. Data from Mont Blanc reflects the dosage arms which continued in the trial and do not include the NCX 470 0.065% dose which was only in the adaptive design portion of the trial. 2. Fechtner et al, American Journal of Ophthalmology, 2024, 264:66-74 3. Nicox Press Release, August 21, 2025
Slide 17: Safety and tolerability: most common adverse event was hyperemia
• The most common adverse event was hyperemia • In Mont Blanc, Ocular Hyperemia: 11.9% of NCX 470 patients vs. 3.3% of latanoprost patients • In Denali, Conjunctival Hyperemia: 22.0% of NCX 470 patients vs. 9.2% of latanoprost patients • There were no ocular or non ocular serious adverse events rela
Slide 18: 1. This data reflects the dosage arms which continued in the trial and do
• ≤ • • ≤ • • 1. This data reflects the dosage arms which continued in the trial and do not include the NCX 470 0.065% dose which was only in the adaptive design portion of the trial.
Slide 19: Authors' Conclusion on NCX 470 0.1%
Authors’ Conclusion: The NO-donating prostaglandin analogue NCX 470 0.1% was well-tolerated and lowered IOP more than latanoprost in subjects with OAG or OHT at all 6 time points. With a dual mechanism of action that enhances both uveoscleral and trabecular outflow, NCX 470 could become an important
Slide 20: NCX 470 - Presentations at Key Ophthalmology Conferences
NCX 470 - Presentations at Key Ophthalmology Conferences AMERICAN GLAUCOMA SOCIETY + Poster: Diurnal IOP Control Responder Analysis with NCX 470 versus Latanoprost in the Phase 3 MONT BLANC Trial oa CECE + Poster 1: Intraocular Pressure Reduction with NCX 470 versus Latanoprost Across the Spectrum o
Slide 21: Potential retinal benefits
NO elicits NO inhibits NO & PGA vasorelaxation & inflammatory lower IOP improves ocular cytokines & blood flow oxidative stress Potential retinal benefits
Slide 22: Improved ocular perfusion and retinal function vs. Lumigan
Improved ocular perfusion and retinal function in damaged eyes vs. Lumigan® Ocular hemodynamics Retinal function (Echo-doppler - Ophthalmic artery) (Scotopic Electroretinogram - rod/cone responses) O p h th a lm ic A r te r y R e s is tiv e In d e x E T - 1 + V e h ic le , n = 7 E T - 1 + V e h ic l
Slide 23: U.S. Glaucoma Clinical Advisory Board with Leading Experts
U.S. Glaucoma Clinical Advisory Board with Leading Experts DR. ROBERT D. FECHTNER, MD, CHAIRMAN Professor and Chair of the Department of Ophthalmology at SUNY Upstate Medical University, Syracuse, NY DR. SANJAY G. ASRANI, MD Professor of Ophthalmology at Duke University in Durham, North Carolina, an
Slide 24: Partnership with Kowa and Ocumension by territory
Japan – United States – partnership with partnership Kowa – Phase 3 with Kowa – trials ongoing NDA filing expected in H1 2026 China, Korea and Southeast Asia – partnership with Ocumension – NDA to be filed based on U.S. package Rest of World – partnership with Kowa
Slide 25: Kowa: Founded in Japan in 1894, Active Worldwide
Founded in Japan in 1894 ~8000 Employees The Pharmaceutical Team of Medical Active Worldwide with an Annual Sector is an Representatives in Multiple Group Revenue of Important One with in Japan and a Domains Including $4.9 Billion an International Franchise in Life Sciences Presence Glaucoma • •
Slide 26: Two value-creating deals with Kowa on NCX 470
Two value-creating deals with Kowa on NCX 470 Territory ; ; Milestones Royalties g 5 Oo @ Japan 7% to 12% 2 2 x fe} ce 2 United States and all €7.5 million upfront, up territories outside €127 million total Tiered up to 20% China, Korea, ( nillion Southeast Asia and Japan nicox ©
Slide 27: Ocumension: Based in China, Dedicated to Ophthalmology
Listed on the Portfolio of 25 Based in China Hong Kong Stock Products with 489 Employees, Created in 2018 Exchange Since 12 Commercialized Including over 250 Dedicated to 2020 $58 Million in Commercial Ophthalmology $900 million Revenue in 2024 Market Cap (+69%) • • •
Slide 28: VYZULTA and ZERVIATE
VYZULTA ✔ ✔ ✔ ✔ ZERVIATE1 ✔ ✔ ✔ ZERVIATE2 ✔
Slide 29: Mechanism of action abbreviations
• • • • MOA = Mechanism of Action GTP = guanosine triphosphate sGC = soluble guanylate cyclase cGMP = cyclic guanosine monophosphate, PKG – protein kinase G ER = endoplasmic reticulum Ca++ = Calcium
Slide 30: Experienced Leadership Team
Experienced Leadership Team &) ¢ Doug Hubatsch Emmet Purtill Gavin Spencer Sandrine Gestin Chief Executive Officer VP, Finance and HR EvP, Chief Scientific Officer VP Business Development th NovarTIS t Novartis C+) COVANCE » Alcon BOOTS HEALTHCARE, INTERNATIONAL < fe} S 2 Sonia Benhamida Observer Bl
Slide 31: Investment Highlights
Investment Highlights v_A Proven Track Record in Clinical Development and Business Development * Two product approvals in the U.S., one in China * Business Development deals in the U.S., Japan, China, and globally with Tier 1 companies * Global partnerships in place for NCX 470 vy NCX 470, a Deriske
Slide 32: Financial Information
Financial information Analyst Financial coverage Information Cash runway! (Links) Into? Q3 2026 Yi Chen Annual Report 2024 HC Wainwright Financial Results 2024 Shareholding Structure & Monthly Share Reporting nicox ©)
Slide 33: Nicox S.A.
33 Nicox S.A. Sundesk Sophia Antipolis Emerald Square Batiment C rue Evariste Galois, 06410 Biot, France T: +33 (0)4 97 24 53 00 nicox visible science COMMUN ications@) nicox.com WWWw.nicox.com, @