Seastar Medical Holding Corporation · NASDAQ:ICU
Seastar Medical — SPAC Merger (May 2022)
38 slides from Seastar Medical's SPAC merger presentation, May 4, 2022
Slide 1: SeaStar Medical, Inc. Investor Presentation
Investor Presentation SeaStar Medical, Inc. LMF Acquisition Opportunities, Inc. LMF ACQUISITION © OPPORTUNITIES INC. SH SEASTAR MEDICAL May 3, 2022
Slide 2: Important Disclosures
Qe Important Disclosures This investor presentation (the “presentation”) is for information proposes only to assist interested parties in making their own evaluation with respect to the business combination (the “Transaction”) between LMF Acquisition Opportunities, Inc. LMAO") and SeaStar Medical, I
Slide 3: Important Disclosures (cont.) Forward Looking Statements
Important Disclosures (cont.) Forward Looking Statements This presentation contains certain forward-looking statements within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1955. These forward-looking statements include, without limitation, LMAO’s and
Slide 4: Important Disclosures (cont.) Industry and Market Data
Qe | Important Disclosures (cont.) Industry and Market Data In this presentation, we rely on and refer to information and statistics regarding market participants in the sectors in which SeaStar expects to compete and other industry data. ‘We obtained this information and these statistics from a var
Slide 5: Overview of LMF Acquisition Opportunities
Qe | Overview of LMF Acquisition Opportunities e aie LMF’s team has significant public company experience to support SeaStar Medical’s growth plans 100+ years combined investing & operating Long-term Growth Robust M&A track record oriented and capital of value investors & markets creation operators
Slide 6: Overview of SeaStar Medical
8 Overview of SeaStar Medical SeaStar Medical is a medical technology company developing a platform therapy to address hyperinflammation, with lead programs in Acute Kidney Injury (“AKI”) Granted Breakthrough Device Adult AKI Pivotal Interim Results Designation for AKI in Adults on Apr. 29% Expected
Slide 7: Clinical Focus: Hyperinflammation as a Disease State
Q Clinical Focus: Hyperinflammation as a Disease State Various diseases and health issues can trigger hyperinflammation through the release of cytokines (Cytokine Storm) from immunological effector cells. The COVID-19 pandemic has highlighted the devastating significance of this disease state and th
Slide 8: The Disease State Provides a Logical Expansion into Acute and Eventually Chronic Diseases
The Disease State Provides a Logical Expansion into Acute and Eventually Chronic Diseases Beyond Our Initial Focus — Acute Kidney Injury (AKI) pA Today, removing cytokines is the predominant clinical course of action A major Cytokine Storm can lead to long term-term morbidity, severe organ damage Co
Slide 9: Market Opportunity: AKI in the Acute US Hospital Setting
By | Market Opportunity: AKI in the Acute US Hospital Setting the US is projected to grow to 10 MM patients by 2027 as patients over 45 have AKI incidence i ies (correlated w/ AKI) higher comorbi 2019 Projected US AKI Incidence US AKI Incidence: 2012-16 (17-27 projected") 10.0M Distribution (Age)!2
Slide 10: SeaStar Medical Gained Critical Insights and Developed Valuable Predictions About these Patient Populations
SeaStar Medical Gained Critical Insights and Developed Valuable Predictions About these Patient Populations and How Each are Treated | | ADDITIONAL PATIENT MARKET POTENTIAL [. INITIAL PATIENT MARKET AKI (Stage 3 RIFLE) ECMO ACTIVITY DURING COVID=18, | Total market (patients) oe: yx SeaStar Medical i
Slide 11: SeaStar Medical's SCD Consists of Three Key Components
| SeaStar Medical’s Selective Cytopheretic Device (SCD) Consists of Three Key Components and Leverages Current Installed Base of CRRT Systems Easy for ICU staff to add the SCD Standard of Care SCD Treatment Renal Replacement Therapy lonized Ca®* 0.25<0.4 mM ~~ Topatient — opens Calcium replacement S
Slide 12: SeaStar Medical's SCD is Designed to Modulate the Immunological Effector Cells
| SeaStar Medical’s SCD is Designed to Modulate the Immunological Effector Cells that Produce the Cytokine Release Other triggers that elicit : inflammatory response include: Pathogen —= > i . Thine ‘ . ~ = Ischemic Injury Exthera Medical - 7 = Volume loading between dialysis treatments ; Activated
Slide 13: Robust Clinical Development Pipeline in Multiple Organs
8 ¢ Robust Clinical Development Pipeline in Multiple Organs Feasibility Pivotal Approved FDA HDE Anticipated HDE Submission (H1 2022) FDA PMA Pivotal Trial Ready (Breakthrough Device Designation) Exploratory clinical research underway at the University of Michigan to refine patient populations where
Slide 14: Pediatric Acute Kidney Injury is Accessed through Fewer Hospitals
& Pediatric Acute Kidney Injury is Accessed through Fewer Hospitals Ability to penetrate pediatric AKI market with small/niche sales force ~20% of Top 50 children's hospitals (by number of beds) have personnel with direct experience with SeaStar Medical's Pediatric SCD 180 Children’s Hospitals! ~4,0
Slide 15: Pediatric Acute Kidney Injury (AKI) Remains an Unmet Need
& Pediatric Acute Kidney Injury (AKI) Remains an Unmet Need 27% 50% ICU Mortality For children with Acute Kidney Injury and Multi Organ Dysfunction requiring continuous KRT (CKRT)#5 The overall incidence of AKI is 27% in the pediatric ICU setting! FDA’s Orphan Products to fund the Pediat 1. Kaddoura
Slide 16: The Consistency of the SCD's Clinical Results is a Vital Value Proposition
my The Consistency of the SCD’s Clinical Results is a Vital Value Proposition Mortality Rate Dialysis Dependency sco come China 9 22% 73%* ER 25% Adult Pilot 002 35 31% 50%" Ey 25% Adult ARF 003 19/27** 16% 1% yy 25% Ped SCD 001 16 25% 50%* Ey 15 to 20% Total 79 Consistent Clinical Outcomes Note: Al
Slide 17: Expansion Strategy Validation: SCD-005 COVID-19 Pilot Study Confirmed the Multi-organ Expansion Strategy
Expansion Strategy Validation: SCD-005 COVID-19 Pilot Study Confirmed the Multi-organ Expansion Strategy 3 | Pilot Studies Underway* Cardio Renal Syndrome Congestive Myocardial Heart Failure Stunning Hepato- Renal Syndrome NCT 03836482 NCT04589065 NCT03539861 Current Patient Pilot Trial Primary End
Slide 18: Mortality of SCD-005 Treated Patients was Significantly Lower Than Control
| Mortality of SCD-005 Treated Patients was Significantly Lower Than V Contemporaneous Control Population Standard of Care Mortality (%) & 100 80 20 60-Day Mortality P=0.10" a eT | P=0.012"+ 81% | * 60-day mortality of SCD-treated patients (ITT population and PP population) was lower than in the 50%
Slide 19: Clear Clinical Development Path Offers Multiple Catalysts Over Next 24 Months
& Clear Clinical Development Path Offers Multiple Catalysts Over Next 24 Months ‘ Launch Pediatric AKI SCD in QI 2023* and complete Adult AKI SCD Pivotal Clinical Trial Nephrologist & Critical Care Intensivists Clear value proposition (reduce mortality, LOS, Ventilator free time) will lead to overal
Slide 20: Key Relationships in Place to Execute on Business Strategy
By | Key Relationships in Place to Execute on Business Strategy Supply Agreement US supply for pediatric and adult indications = we FRESENIUS yi | ;MEBICALICARE Contract Research Organization in Place for SCD 006 Distribution Agreement 1 CON) Right of first refusal to distribute both pediatric and a
Slide 21: Comprehensive Patent Estate for Modulating Inflammation
Qy | Comprehensive Patent Estate for Modulating Inflammation, Including “ | Composition of Matter and Methods of Use U.S. Patent Portfolio * 17 granted; 4 pending * Of the granted patents, the last will expire in 2032* Ex-U.S. Patent Portfolio * 20 granted; 16 pending * Of the granted patents, the l
Slide 22: SeaStar Medical Management Team
“| SeaStar Medical Management Team Eric Schlorff Caryl Baron Matt Jacques CEO & Chairman Controller Director of Clinical Nursing = Over 20 years of business leadership = Over 30 years of accounting and = Over 10 years ICU nursing at both large and growing companies finance experience in private and
Slide 23: Board of Directors - SeaStar Medical Holding Corporation
SeaStar Medical an | Board of Directors —- SeaStar Medical Holding Corporation Eric Schlorff - Chairman » CEO — SeaStar Medical = Dow Chemical Company = MS Pharmacology Kenneth Van Heel = Dow Chemical Company » Former Board Member of Pfenex, Inc (NASDAQ: PFNX) Andres Lobo Rick Barnett = Dow Chemical
Slide 24: SeaStar Medical Corporate Highlights
Qe | SeaStar Medical Corporate Highlights Proprietary platform therapy with differentiated immunomodulatory mechanism of action to address hyperinflammation Late-stage lead programs that have demonstrated consistent clinical and preclinical outcomes Large and growing US market opportunities in both
Slide 25: Summary Transaction Overview
Transaction Rationale Use of Proceeds SeaStar Medical Qe Summary Transaction Overview The combined company will be known as SeaStar Medical Holding Corporation Will operate under the same management team as SeaStar Medical Anticipated closing in Q3 2022 The transaction contemplates an enterprise val
Slide 26: Detailed Transaction Overview
b F , 7 <#< | Detailed Transaction Overview Pro Forma Valuation’? Illustrative Sources & Uses (in millions, except per share data) Sources Pro-forma Shares Outstanding? 23,144,500 LMAO Cash in Trust! $1058 (x) llustrative Share Price $ Stock Issuance to SeaStart $ 850 Pro Forma Equity Value* $ Cash
Slide 27: Thank You
Thank You May 2022 MEDICAL
Slide 28: Supplemental Medical Information
Supplemental Medical Information
Slide 29: Uncontrolled Hyperinflammation is at the Center of Acute and Chronic Organ Injury
Uncontrolled Hyperinflammation (Disease State) is at the Center of Acute and Chronic Organ Injury Transplant in See Critical Care Surgeons > eee wereees = Intensivists 2 Hyper- Myocardial Nephrologists < 7 Hay cater Stunning in Chronic HD Acute Respiratory Distress Syndrome Cardio- Cardio ae = Pulmo
Slide 30: Mortality Rate Indicates an Underserved Market and Significant Opportunity
y Rate Indicates an Underserved Vv | Market and Significant Opportunity, Aligned to Hospital Quality Measures 2018 Data based on National Averages! ‘Average Average Average “= Net Cost/Patient | Cost/Day besgitserHree Loss/Patient AKIFRRT+Multi Organ F I Failure 17.9 ($107,948 $6,031 $78,576 $29,372
Slide 31: How SeaStar Medical's SCD Mimics Nature
By | How SeaStar Medical’s SCD Mimics Nature ScD i a LJ Activated 2 Neutrophil Neutrophil leutrophi tT Blood flow Activated Neutrophils release cytokines SCD deactivates neutrophils (apoptosis) Neutrophils are captured, roll, sto, + Deactivated neutrophils signal immune system and enter endothelial
Slide 32: SeaStar Medical's SCD is Designed to Address the Host Inflammatory Response
ay | SeaStar Medical’s SCD is Designed to Address the Host Inflammatory Vv Response, Head On, and is Agnostic as to what Initiates the Injury An example of when each technology would be used1:2 Stage I Stage II Stage III (Early Infection) (Pulmonary Phase) (Hyperinflammation Phase) Severity of illne
Slide 33: Neutrophil Biomarkers Strongly Suggest that the SCD is Capturing Highly Activated Neutrophils
co | Neutrophil Biomarkers Strongly Suggest that the SCD is Capturing the \ Most Highly Activated Neutrophils Reducing hyperinflammation propagates a reparative immune system response Neutrophil CD11b Neutrophil CD66b 70000 500000 60000 — 400000 40000 300000 20000 10000 100000 lit faad i > i it i a
Slide 34: Monocyte Biomarkers Strongly Suggest that the SCD is Capturing Highly Activated Monocytes
co Monocyte Biomarkers Strongly Suggest that the SCD is Capturing the \ Most Highly Activated Monocytes Monocyte CD11b Monocyte CD14 30000 70000 70000 70000 60000 bests 50000 40000 Boxe} beseng 30000 20000 20000 slg f fea fi * i 0 ° Day Day1 Day3 DayS Day7 Day9 ma Dayl Day3 Day5 Day7 Day9| Bayo Day
Slide 35: m™SCD
100% m™SCD 90% = Control 80% (p = 0.01) 70% 60% (p= 0.11) 57.7% 50% 40.7% (p = 0.10) 40% 30% 25.0% 20% 15.8% a 15.8% 10% 0/16 Eats 0% 60 day Mortality 60 day Dialysis Composite Dependency Adult Pivotal trial will have ~4x more patients Tumlin et al. A Multi-Center, Randomized, Controlled, Pivotal St
Slide 36: Significant Reductions of Activated Neutrophils and Monocytes and Pro-inflammatory Cytokines
By Significant Reductions of Activated Neutrophils and Monocytes and Pro-inflammatory Cytokines Were Seen in SCD-005 Treated Patients SCD treatment reducedmean absolute neutrophil SCD treatment significantly* reduced the elevated levels of multiple andWBC counts after 4 days key predictive biomarker
Slide 37: Market Opportunity: Chronic Non-Hospital Setting
mo | Market Opportunity: Chronic Non-Hospital Setting End Stage Renal Disease (ESRD) is a costly chronic disease burden that reduces life span. A proven innovation would address the unmet need and allow access to a large market _ NamBeeer USTRCeH 492,000 in 2019 Expected remaining lifetime in years
Slide 38: SCD May Also Have Impact in the Chronic Setting with End Stage Kidney Disease
SCD May Also Have Impact in the Chronic Setting with End Stage Kidney vo | Disease (ESRD) 15 African American ESRD patients (8 males/7 females) with high CRP Protocol was standard 4-hour hemodialysis session with heparin followed by Single 4-hour HD Session with citrate + SCD M1 commie, Count Count