NON-CONFIDENTIAL

R&D DayInnovative R&D and Late-stage Development Progress
10 November 2023 | Sosei Group Corporation (TSE: 4565)

Disclaimer
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unforeseen safety issues resulting from the administration of our products in patients, uncertainties related to product manufacturing, the lack of market acceptance of our products, our inability to manage growth, thecompetitive environment in relation to our business area and markets, our inability to attract and retain suitably qualified personnel, the unenforceability or lack of protection of our patents and proprietary rights, ourrelationships with affiliated entities, changes and developments in technology which may render our products obsolete, and other factors. These factors include, without limitation, those discussed in our public reports filedwith the Tokyo Stock Exchange and the Financial Services Agency of Japan. Although the Company believes that the expectations and assumptions reflected in the forward-looking statements are reasonably based on
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References to "FY" in this presentation for periods prior to 1 January 2018 are to the 12-month periods commencing in each case on April 1 of the year indicated and ending on March 31 of the following year, and the 9 month
period from April 1 2017 to December 31 2017. From January 1 2018 the Company changed its fiscal year to the 12-month period commencing in each case on January 1. References to "FY" in this presentation should beconstrued accordingly.
© Sosei Group Corporation. Sosei Heptares is the corporate brand and trade mark of Sosei Group Corporation. Sosei, Heptares, the logo and StaR® are trade marks of Sosei Group companies.

2

Agenda3

1

Business update2

Development and Sales in Japan and APAC

3Progress in UK R&D

4

Supplementary Explanation for Q3FY2023 Results

1. Business update1
Business update
Chris Cargill, CEO

4

2. Development and Sales inJapan and APAC

3. Progress in UK R&D

4. Supplementary Explanationfor Q3FY2023 Results

1. Business update

2. Development and Sales inJapan and APAC

3. Progress in UK R&D

4. Supplementary Explanationfor Q3FY2023 Results

Our mission

CUTTING-EDGESCIENCEMEDICINES
BY DESIGNBUILDING THE NEXT-GENERATION PHARMA COMPANY FOR JAPAN5

REAL HUMANOUTCOMES1. Business update

2. Development and Sales inJapan and APAC

3. Progress in UK R&D

4. Supplementary Explanationfor Q3FY2023 Results

Cutting-edge science

World leaders in structure-based drug design, strong focus on GPCR targets
GPCRs MOST SUCCESSFUL TARGETS IN MODERN MEDICINESOLVED 375+ MOLECULAR STRUCTURESFROM 50+ DIFFERENT RECEPTORSDEVELOPED 80+ StaRs
6

Receptors for which a structure has beenreleased in Protein Data Bank (public domain)

Receptors for which Sosei Heptares
has developed a StaR®

FIRST TO SOLVE GLP-1R BOUND TO A PEPTIDE AGONIST•

Our science highlights thecomplexity of receptor
interactions•

Our science is globally
recognized, as published in
Nature (2017)•

Our science offers insights toenable GLP-1 drug discovery
and development worldwide•

Our science makes asignificant contribution tohuman health1. Business update

2. Development and Sales inJapan and APAC

3. Progress in UK R&D

4. Supplementary Explanationfor Q3FY2023 Results

Cutting-edge science enables medicines by design
Exposed to the fastest growing area in healthcare

GLP-1

BEYOND GLP-1

NEXT-GENERATIONBROAD INCRETIN/ UPSTREAMTARGETS (e.g. GLP-1/GIP/GCG)

PF’522Phase 1

Multiple Pre-discovery/ Discovery

Multiple Pre-discovery/ Discovery

PFIZER AND LILLY ARE USING OUR SCIENCE TO ENABLE THEIR DRUG DESIGN FOR METABOLIC DISEASES

7

1. Business update

2. Development and Sales inJapan and APAC

3. Progress in UK R&D

Cutting-edge science enables medicines by design
Exposed to the fastest growing area in healthcare

DIABETES AND OBESITY ARE JUST THE BEGINNING.
EMERGING RESEARCH SUGGESTS BENEFITS IN HEART, LIVER AND KIDNEY DISEASES
Source: https://www.bloomberg.com/news/articles/2023-11-02/weight-loss-drugs-are-bringing-in-even-more-money-than-expected

8

4. Supplementary Explanationfor Q3FY2023 Results

1. Business update

2. Development and Sales inJapan and APAC

3. Progress in UK R&D

4. Supplementary Explanationfor Q3FY2023 Results

Medicines by design

Advancing through early clinical development
PARTNERED PROGRAMS

IN-HOUSE PROGRAMSGPR52 agP

Neurology
Phase 1

P Solid tumours
EP4 ant
Phase 1EP4 ag

IBD
Phase 1 (H1 24)

M4 ag
M1M4 agP

Schizophrenia
Phase 2

CCR6 ant

IBD
Phase 1

Neurology
Phase 1MC4 ant

Malnutrition
Phase 1

GLP-1 ag

PMetabolic diseases
Phase 1P Substance abusemGlu5 NAM

Phase 1

P Clinical start in 2023
FIVE CLINICAL STARTS THIS YEAR BY US AND OUR PARTNERS

91. Business update

2. Development and Sales inJapan and APAC

3. Progress in UK R&D

4. Supplementary Explanationfor Q3FY2023 Results

Real human outcomesFirst commercially available medicine (PIVLAZ®) protecting lives in Japan every day
Patients that have received PIVLAZ® since launch~8,900“The mechanism of action targets the root cause of
cerebral vasospasm, which other drugs could not show”– Neurosurgeon 1, University Hospital“PIVLAZ® was the first dug with a well-defined
pathomechanism that I can prescribe confidently”– Neurosurgeon 2, General Hospital“PIVLAZ® has a success rate of 30 out of 30 for me, not asingle patient developed cerebral vasospasm”– Neurosurgeon 3, University Hospital“The efficacy of PIVLAZ® is incomparable to othertreatment options, I will not prescribe anything else”– Neurosurgeon 4, General Hospital

Q1

Q2

Q3

Q4

Q5

Q6

Today

PIVLAZ® RAPIDLY BUILDING REAL WORLD EVIDENCE MITIGATING THE RISK OF CEREBRAL VASOSPASM

101. Business update

2. Development and Sales inJapan and APAC

3. Progress in UK R&D

4. Supplementary Explanationfor Q3FY2023 Results

Real human outcomes

Daridorexant to contribute significantly to Japanese health (Q4 2024 potential launch)

15 TRILLION YEN (3% GDP)ECONOMIC LOSS

604,000
LOST WORKING DAYS / YEAR

10%
HIGHER MORTALITY RISKDue to decreased productivity

Due to absences and sick leave

If average <6 hrs sleep per night

THE IMPACT OF SLEEP DISORDERS ON JAPANESE SOCIETY IS SIGNIFICANT.
DARIDOREXANT IS A BEST-IN-CLASS SOLUTION FOR INSOMNIA
Source: “Why sleep matters – the economic costs of insufficient sleep” (2016) RAND Research Reports

11

1. Business update

2. Development and Sales inJapan and APAC

3. Progress in UK R&D

4. Supplementary Explanationfor Q3FY2023 Results

Our mission, in progress
CUTTINGEDGESCIENCEMEDICINES
BY DESIGNREAL HUMANOUTCOMES

12✓World-leader in SBDD, using AI/ML tools, accelerating new drug discovery✓

Exposure to fastest growing area of healthcare, revolutionizing treatments for metabolic diseases✓

Exclusive opt-ins for Phase 3-ready products, building our commitment to healthcare in Japan✓

Additional pipeline of 30+ medicines by design, adding new programs and partners every year✓

PIVLAZ® launch ongoing, protecting patients daily✓

Daridorexant NDA filing submitted to PMDA, transforming the management of sleep disorders

1. Business update

2. Development and Sales inJapan and APAC

3. Progress in UK R&D

4. Supplementary Explanationfor Q3FY2023 Results2
Development and Sales
in Japan and APAC
Dr. Satoshi Tanaka, President of IPJ/IPK

13

1. Business update

2. Development and Sales inJapan and APAC

3. Progress in UK R&D

4. Supplementary Explanationfor Q3FY2023 Results

Insomnia: potential in Japan of drugs targeting the Orexin system
Market size of orexin system is expected to grow rapidly

Number of Patients(Million)

Orexin43％

CAGR (’22 – ’30)

15

Orexin19%

CAGR

Melatonin

+11%
+2%
-2%
-10%
-5%
-7%
-1%

39%

36%

16

33%

12.5

30%

27%

25%

22%

17%

6%

14%

0% 1% 4%

12%

15.0

9%

+0.8%

43%

17.5

Non BZDBZD(very short)
BZD(short)

10.0

BZD(middle)
BZD(long)

7.5

Estimated number of patients with insomnia inJapan is around 15 million in 2022 (CAGR(’22-’30):+0.8%), and the share of drugs targeting theOrexin system is expected to reach 43% in 2030

5.0

ActualSource: IQVIA JPM (2011-2022/07MAT)

14

Estimation

2030

2029

2028

2027

2026

2025

2024

2023

2022

2021

2020

2019

2018

2017

2016

2015

2014

2013

2012

0.0

2011

2.5

1. Business update

2. Development and Sales inJapan and APAC

3. Progress in UK R&D

4. Supplementary Explanationfor Q3FY2023 Results

NDA submission of daridorexant

NDA submission on 31 Oct 2023 based on the excellent results of Japanese Phase 3 studies
Japanese Phase 3 study design

Double blind study results

Double blind study (n=490)
Screening
Period7－18 days

Placebo Run-in
Period14 – 20 days

Placebo once daily at
bedtime

Double Blind Treatment Period
28 days (±3)
Randomization

Placebo Run-out
Period7 days(+3)

Daridorexant 25 mg
once daily at bedtime

Placebo

Daridorexant 50 mg
once daily at bedtime

Placebo

Placeboonce daily at bedtime

Placebo• Efficacy endpoint: sTST and sLSO at Week 4• Other endpoints : other sleep parameters (sWASO, etc.), safety

Follow-up
Period23 days(+7)

sLSO (compared to placebo at 28
days)• 25 mg: p = 0.006• 50 mg: p < 0.001

Efficacy evaluation

Long-term study (n=154)
Screening
Period
1 – 4 weeks

Treatment Period (Open label)
52 weeks
Daridorexant 25 mg once daily at bedtime
Daridorexant 50 mg once daily at bedtime• Endpoints: safety, sleep parameters (sTST, sLSO, sWASO, etc.)

15

sTST: subjective Total Sleep Time, sLSO: subjective Latency for Sleep Onset, sWASO: subjective Wake time After Sleep Onset

EfficacysTST (compared to placebo at 28
days)• 25 mg: p = 0.042• 50 mg: p < 0.001

Follow-up
Period30 days

SafetyTreatment-emergent adverse events• Placebo: 24.4%• 25 mg: 22.7%• 50 mg: 23.5%

1. Business update

2. Development and Sales inJapan and APAC

3. Progress in UK R&D

4. Supplementary Explanationfor Q3FY2023 Results

Cenerimod (S1P1 receptor modulator)

S1P1 receptor modulator proven to be effective for treating multiple immune-related diseases
S1P1 receptor

Cenerimod• Sphingosine-1-phosphate receptor 1 (S1P1) is a GPCR
receptor that regulates a wide range of biological processes,
especially immune responses (both T cell and B cell)• Modulation of S1P receptors regulates immune responses
by inhibiting the egress of lymphocytes into the circulation• Mechanism being targeted multiple disease as follows;
Inflammatory Bowel Diseases• Ulcerative Colitis• Multiple Sclerosis• Ozanimod (BMS)• Ozanimod (BMS)• Etrasimod (Pfizer, approved)• Ponesimod (J&J)• Crohn’s disease• Ozanimod (BMS)

16

Autoimmune Diseases• Siponimod (Novartis)• Fingolimod (Novartis/Mitsubishi Tanabe, approved)• Orally available selective S1P1
modulator• Idorsia Ltd. is developing
cenerimod in Phase 3 trials as atherapy for SLE• As cenerimod has potential to treat
a wide range of immune-relateddisease, Sosei Heptares will initiate
a rapid development program in an
indication where it can bepositioned and launched as a firstin-class therapy

2. Development and Sales inJapan and APAC

1. Business update

3. Progress in UK R&D

Sales trend and target of PIVLAZ® (NHI based sales)
Sales Target in 2023 : JPY 13,266 million

Target sales

Actual sales

JPY million

+43%
4,396
+41%

3,477

3,326
2,365

3,071

2,322

1,846

Q2

Q3
FY2022

17

Q4

Q1

Q2

Q3
FY2023Q4

4. Supplementary Explanationfor Q3FY2023 Results

1. Business update

2. Development and Sales inJapan and APAC

3. Progress in UK R&D

4. Supplementary Explanationfor Q3FY2023 Results

PIVLAZ® included in Japanese Guidelines for the management of STROKEPIVLAZ® demonstrated the true endpoints of SAH with higher level of evidence
Japanese Guidelines for the
management of STROKE

The impact of inclusion in the guideline

PIVLAZ® (clazosentan) was officially authorized andrecommended by the Japanese Stroke Society in Aug’23 owing to quality of evidence demonstrated bypivotal Phase 3 studies conducted in Japan.

• Provides confidence to neurosurgeons to prescribe
PIVLAZ® as a new standard of care for SAH based onstrong evidence it can prevent delayed cerebral
ischemia (DCI) and poor outcomes• The Guidelines for recommending the treatment of vasospasm havenot been revised for over several years, so most neurosurgeons havebeen paying close attention to that revision

Ⅳ. Subarachnoid Hemorrhage
7-1 Treatment of Delayed Cerebral Vasospasm• Inclusion in the Guidelines is expected to be a trigger forneurosurgeons to switch from prescribing conventional treatments to
new evidence-based medicines such as PIVLAZ®

2023 Guideline Recommendation
PRODUCT

RECOMMENDATIONLEVELEVIDENCE
LEVEL

1Clazosentan

B

MEDIUM

2

FasudilB

LOW

3

Ozagrel Sodium

B

LOW

DCI: delayed cerebral ischemia, SAH: Subarachnoid hemorrhage
Source: Japanese Stroke Society Guideline 2021 for the Management of Stroke (Revised Version 2023)

18

Included
from 2023

1. Business update

2. Development and Sales inJapan and APAC

3. Progress in UK R&D

4. Supplementary Explanationfor Q3FY2023 Results

Leverage commercial capability by using external resource
Creating commercial synergies to optimize sales and distribution＄ Service fee for sales personnel

External Partners
Provide sales personnel
Distributers

Hospital

19＄ Upfront and milestone payment

1. Business update

2. Development and Sales inJapan and APAC

3. Progress in UK R&D

4. Supplementary Explanationfor Q3FY2023 Results

3
Progress in UK R&D
Dr. Matt Barnes, President of Heptaresand Head of UK R&D

20

1. Business update

Partnered Programs (1)Neurocrine Biosciences Collaboration

https://www.neurocrine.com//assets/2023/10/Final-NBIX-Q3-2023-Earnings-Presentation_10.31.23.pdf

21

2. Development and Sales inJapan and APAC

3. Progress in UK R&D

4. Supplementary Explanationfor Q3FY2023 Results

1. Business update

2. Development and Sales inJapan and APAC

3. Progress in UK R&D

4. Supplementary Explanationfor Q3FY2023 Results

Partnered Programs (2)Highlights

Clinical & Pre-clinical Programs
Oct. ’23

Sep. ’23

Clinical Program

Clinical Program• PF-06954522, a new oral small
molecule GLP-1 receptor agonist
progressed into Phase 1 clinical
trials targeting the treatment of
metabolic diseases.

Clinical Program• NBI-1117570, a selective M1/M4
dual agonist progressed into
Phase 1 clinical trials for potential
treatment of neurological andneuropsychiatric conditions.

Discovery & Technology Collaborations
Oct. ’23

Discovery Program• $3.75M payment for the
progression of a potential first-inclass project targeting an
undisclosed GPCR
1) Endpoints news (October 20, 2023)

22

Jan. ’23

Pre-Clinical Program• TMP-301, a selective mGluR5
NAM progressed into clinical trials
for alcohol and substance use
disorder• CEO of Aditum Bio commented
this program is expected to moveinto Phase 2 in 2024 1)

Oct. ’23

Oct. ’23

Oct. ’23• Preclinical data supporting best-inclass potential of OX750, an oral
OX2R agonist for treatment of
narcolepsy and other sleep-wakedisorders presented at the World
Sleep Congress (Oct ’23)

Nov. ’23

AI drug design

Target ID/ Validation

Gut-brain axis platform• Drug discovery collaboration• Nomination and validation of first• Nomination of first GPCR target for

expanded to a second neurologicaltarget• SBDD + chemUNIVERSEGPCR target for drug discovery in
IBD• Immune Profiler platformtherapeutic development in
Gastrointestinal Diseases• Gut-brain axis platform

1. Business update

2. Development and Sales inJapan and APAC

3. Progress in UK R&D

4. Supplementary Explanationfor Q3FY2023 Results

Wholly-owned clinical & peri-clinical programs
Advancing priority programs into early clinical studies

Immunosuppression
in solid tumors

Schizophrenia
and Psychosis

Inflammatory
Bowel Disease

EP4 antagonist

GPR52 agonist

EP4 agonist• Once daily oral small molecule• Combination with checkpoint inhibitors• Collaboration with Cancer Research UK
Ph1 initiated: Aug 2023

• Once daily oral small molecule• 24hr target engagement
Ph1 initiated: June 2023

Ph1 initiation target: H1 2024

• Participants: 150 patients• Estimated duration: 8/2023 - 9/2026• Participant: 104 healthy volunteers• Estimated duration: 6/2023 - 11/2024• Regulatory submission to commencetrial planned for Q4 2023

• Patients dosed with no DLTs or
SUSARs reported• Two clinical sites currently openwith a third anticipated to open
imminently• Clinical trial is proceeding asplanned with good progress throughdose escalation• Preclinical evaluation is ongoing andon track• H1 2024 Phase 1 start

DLT: Dose Limiting Toxicities, SUSAR: Suspected Unexpected Serious Adverse Reactions
EP4 Ant study link: https://clinicaltrials.gov/study/NCT05944237?term=Heptares&viewType=Table&page=2&rank=15
GPR52 Ag study link: https://www.isrctn.com/ISRCTN17231793?q=&filters=&sort=&offset=58&totalResults=23608&page=6&pageSize=1023• Oral GI restricted• Good potency and selectivity• Minimal GI systemic exposure

1. Business update

2. Development and Sales inJapan and APAC

3. Progress in UK R&D

4. Supplementary Explanationfor Q3FY2023 Results

GPR52 agonist – a novel approach to treat schizophrenia
Mechanism

Preclinical results• HTL0041178 blocks psychostimulant-hyperlocomotion in rodents

Striatum– GPR52 & D2
DLPFC
vmPFC

• HTL0041178 improves cognitive flexibility in subchronic PCP rat

Frontal Cortex– GPR52 & D1

PCP: phencyclidine
Poulter et al. ACS Med Chem Lett. 2023;14(4):499-505; MacSweeney et al. SOBP 2020 (poster); MacSweeney et al. SIRS 2022 (poster)24

1. Business update

2. Development and Sales inJapan and APAC

3. Progress in UK R&D

4. Supplementary Explanationfor Q3FY2023 Results

In House Portfolio – Future Programs
Several internal targets
1

2

3

Inflammatory bowel disease

Major Depressive DisorderStage

Pre-clinical

Discovery

Pre-discovery

Target Product
ProfileOnce daily, first-in-class oral
small moleculeOnce daily, best-in-class oral
small moleculeOnce daily, first-in-class oral
small molecule

Next Milestone

Phase 1 start

Pre-clinical development

Discovery

Mechanism of
ActionMucosal healing concept targeting gut epithelial cells
axis aimed at promoting
barrier repair

Modulation of dopaminergictransmission in reward circuits

Modulation of broad incretin
release (inc. GLP-1; GIP; GCG)
and appetite suppression.
Upstream of current GLP-1
small molecule agonists

25

Metabolic Disorders

1. Business update

2. Development and Sales inJapan and APAC

3. Progress in UK R&D

4. Supplementary Explanationfor Q3FY2023 Results

R&D Artificial Intelligence (AI)/Machine Learning (ML) Approaches

ImpactApproach

Broad application of AI techniques across multiple functions
StaR®

Structure

Molecule Design

Translational Medicine• GPCR rich mutagenesis
datasets are mined using
ML algorithms to predict
future StaR® enabling
mutations• AI used to predict GPCR
binding site/mode using
database of proprietaryinternal/external structures• Hit ID through AI- • ML based QSAR models
assisted medicinal
based on proprietarychemistry expertise internal and public
datasets• AI led analysis of large patient
datasets to identify biomarkers
and stratify patients• Accelerates StaR®
generation• Improves breadth and depth • Supportsof GPCR homology models to
identification of
support molecule
novel chemical
optimization and virtual
seriesscreening.

26 QSAR: Quantitative Structure Activity Relationship• Supports optimizationof chemical series toimprove drug like
properties• Enables the design of the 'right'
clinical studies

1. Business update

2. Development and Sales inJapan and APAC

Future Innovation & Platform Growth

Investing in non-GPCR membrane drug targets and laboratory expansion
Non-GPCRs• Utilizing know-how to explore other membraneprotein target classes.

Laboratory Expansion• Completion of additional laboratory
space – October 2023

• Ion channels and transporters projects initiated• Drug targets with strong validation selected
where SBDD approach offers differentiation• Opportunity to demonstrate technical feasibility& generate best-in-class medicines in our
therapeutic areas of interest

Created with BioRender.com

27• New Phage Display lab created toutilize naïve nanobody libraries toscreen against purified GPCR StaR®
targets – identify Protein Binders to
support cryo-EM and SBDD platform• New Mass Spectrometry (MS)facility created & state-of-the-art
mass spectrometer purchased todrive advanced GPCR MS
methodologies.

Phage selection
against target GPCR

Created with BioRender.com

3. Progress in UK R&D

4. Supplementary Explanationfor Q3FY2023 Results

1. Business update

2. Development and Sales inJapan and APAC

3. Progress in UK R&D

4
Supplementary Explanationfor Q3FY2023 Results
Hironoshin Nomura, CFO

28

4. Supplementary Explanationfor Q3FY2023 Results

2. Development and Sales inJapan and APAC

1. Business update

3. Progress in UK R&D

4. Supplementary Explanationfor Q3FY2023 Results

Breakdown of Q3 FY2023 result

Because of M&A, Non-cash/Non-recurring cost impacted 3rd quarter results(JPY million)

Sosei Heptares* ＋(1Q-3Q : 9month)

Revenue

3,130

IPJ/IPK*=(7/20-9/30 : c.2.4month)

Consolidated
Non-recurring
Non-cash cost ＋＋=
P/L (Core)
Costs

2,344

Consolidated
P/L (IFRS)

5,474

5,474

A

(684)
Current PIVLAZ® stock

CoS
+
SG&A

(2,501)(1,379)(3,880)B(226) C
Amortization of products(1,272)(7,364)

M&A-related fee(1,302)Others

R&D(6,112)(313)(6,425)

Other income

906

6

912

OP/Core OP(4,577)658

M&A related
Adjustments(total. JPY 2,182 mil.)Core OP(3,920)(7,013)912
OP(7,992)•A

Additional CoS charge only for current PIVLAZ® stock. This impact will continue until around Apr 2024.

•B

Amortization of intangible assets (relating to PIVLAZ® and Daridorexant). Plan to be c. JPY 1,800 million / year from 2025.

•C

One time M&A related fee covering the IPJ/IPK transaction and evaluation of other potential opportunities was basically fully charged in Q3 2023.

* Sosei Group, Sosei Co. Ltd. and Heptares Therapeutics Ltd., IPJ: Idorsia Pharmaceuticals Japan, IPK: Idorsia Pharmaceuticals Korea

29

(588)

Appendix

30

Exclusive Opt-in Rights And ROFN/ROFR1

Option to develop up to seven clinical programs for Japan and APAC (ex-China) from Idorsia

Exclusive
Opt-in Right

ROFR/ROFN1

ProgramMechanism of Action

Indication**

Stage

Cenerimod

S1P1 receptor modulator

Systemic lupus erythematosus

Phase 3

Lucerastat

Glucosylceramide synthase inhibitor

Fabry disease

Phase 3Selatogrel

P2Y12 antagonist

Suspected acute myocardial infarction

Phase 3*

ACT-1004-1239

ACKR3 / CXCR7 antagonist

Multiple sclerosis and other demyelinating diseases

Phase 2*

ACT-1014-6470

C5aR1 antagonist

Immune-mediated disorders

Phase 1*IDOR-1117-2520

Undisclosed

Immune-mediated disorders

Phase 1*

ACT-777991

CXCR3 antagonist

Recent-onset Type 1 diabetes

Phase 1*

1 ROFN/ROFR - Right of first negotiation / Right of first refusal
2 Territories include Japan, South Korea, Australia, Brunei, Cambodia, Indonesia, Laos, Malaysia, Myanmar, New Zealand, Philippines, Singapore, Taiwan, Thailand and Vietnam

31* Global Phase** This is an indication currently under development, but does not necessarily mean that Sosei will develop for this indication

RegionAPAC(ex-China)2

Introduction of ‘Core Operating Profit’Core Operating Profit – the financial indicator closer to the reality of our business◼

Operating Profit

Operating Profit“IFRS”“Core”

Financial results recorded and prepared inaccordance with International Financial
Reporting Standards (IFRS)+ Material Non-cash Costs(Depreciation, Amortization, Share based payments, Impairment...etc.)+ Material Non-recurring Costs(Restructuring costs and Other material one-off items...etc.)

Cash
Recurring

Non-recurring(Material)

32

Non-cash(Material)

Costs under“Core”

Costs under “IFRS”

Core Operating Profit is a new key
financial indicator that highlights theunderlying recurring cash generating
capability of the business.
◼ Core Operating Profit is defined as IFRS
Operating Profit + material Non-cash costs+ material non-recurring costs◼ Material Non-cash Costs include
depreciation, amortization, share based
payments and impairment.
◼ Material Non-recurring Costs include
restructuring costs and other material
one-off items.
◼ Core Operating Profit = Cash Earnings +material Non-recurring Costs◼

Partnered pipeline
CompoundTarget / Mechanism of Action

Modality

Indication

Seebri® Breezhaler®

LAMA

SME

COPD

Ultibro® Breezhaler®

LAMA+LABA

SME

COPD

Enerzair® Breezhaler®

LAMA+LABA+ICS

SME

AsthmaORAVI®

Antifungal agent miconazole

SME

Oropharyngeal candidiasis

Imaradenant1

Adenosine A2a ant. combo

SME

mCRPC

NBI-1117568

Muscarinic M4 agonist

SME

Schizophrenia(Not disclosed)

Muscarinic M1 agonist

SME

Neurology diseases

NBI-1117570

Muscarinic M1/M4 agonist

SME

Neurology diseases

PF-07081532

GLP-1 agonist

SME

T2DM/ObesityPF-07054894

CCR6 antagonist

SME

Inflammatory bowel disease

PF-07258669

MC4 antagonist

SME

Malnutrition

PF-06954522

GLP-1 agonist

SME

Metabolic diseases(Not disclosed)

CGRP antagonist

SME

Neurology diseases(Not disclosed)

GPR35 agonist

SME

Inflammatory bowel disease(Not disclosed)

Multi target

SME/LME

Multiple indications(Not disclosed)

Multi target

SME/LME

Gastrointestinal and other(Not disclosed)

Multi target

SME

Inflammatory/Neurology(Not disclosed)

Multi target

SME

Diabetes/MetabolicPartner

Disc.

PCC

Ph1

Partnered

Note: SME = small molecule. LME = large molecule. Seebri®, Ultibro®, Enerzair® and Breezhaler® are registered trademarks of Novartis AG. 1 AstraZenenca have removed the A2a program from their clinicalpipeline as at Q3 2021

33

Ph2

Ph3

App

Mkt

Partnered pipeline (cont’d)CompoundTarget / Mechanism of Action

Modality

Indication

KY1051CXCR4 mAb

mAb

Immuno-oncology(Not disclosed)

PAR-2

PeptideInflammatory diseases(Not disclosed)

Targeted Protein Degradation

SME

Gastrointestinal disorders(Not disclosed)

AI-Augmented Drug Discovery

SME

Neurology diseases(Not disclosed)

Multi target AI-powered

SME/LME

Immune diseases(Not disclosed)

Multi target AI-powered

SME/LME

Immune diseases(Not disclosed)

Gut-brain axis drug discovery

SME

Gastrointestinal disorders

TMP301mGlu5 NAM

SME

Substance use disorders

ORX750OX2 agonist (Oral)

SME

Narcolepsy

Co-development

Co-owned companies

Note: SME = small molecule. LME = large molecule

34

Partner

Disc.

PCC

Ph1

Ph2

Ph3

App

Mkt

In-house pipeline
CompoundTarget / Mechanism

Modality

Indication

PIVLAZ®

ETA antagonist

SME

Cerebral vasospasm

Daridorexant

Dual Orexin antagonist

SME

Insomnia

HTL’149

GPR52 agonist

SME

Neurology diseases

HTL’732

EP4 antagonist

SME

Immuno-oncology(Not disclosed)

EP4 agonist

SME

Inflammatory bowel disease(Not disclosed)

Muscarinic M1 agonist (JP)SME

Neurology diseases(Not disclosed)1

H4 antagonist

SME

Atopic Dermatitis(Not disclosed)

SARS CoV-2 Mpro

SME

Coronaviruses

Multiple programs

Not disclosed

SME/LME

Neurology diseases

Multiple programs

Not disclosed

SME/LMEGI and Inflammatory diseases

Multiple programs

Not disclosed

SME/LME

Immunology diseases

Originator

In-house Programs

In-house Programs (No longer internally funded. Targeting academic / industrial partnership)
HTL’310

SSTR5 agonist

PeptideHypoglycaemic disorders

HTL’097

GLP-1 antagonist

PeptideHypoglycaemic disorders

HTL’023

Dual GLP-2/GLP-1 agonist

PeptideIntestinal failure/NASH(Not disclosed)

Apelin agonist

PeptidePulmonary Arterial Hypertension

HTL’641

Dual orexin antagonist

SME

Insomnia and sleep disorders(Not disclosed)

PAR-2 mAb

mAb

Atopic Dermatitis/Pain

Note: SME = small molecule. LME = large molecule. 1 Due to changes of strategy, we deprioritized until we will find another indication opportunity

35

Disc.

PCC

Ph1

Ph2

Ph3

App

Mkt

(For Reference) IPJ* Standalone Operating Results
FY2022(JPY million)

Revenue

11,7095,950

Product sales

6,254

4,812

Contract revenue (from related parties)

5,455

1,138

CoS

1,959

1,692

R&D

4,485

1,034

SG&A

4,475

2,876

Operating profit

790

348

Net income

468

158

* IPJ: Idorsia Pharmaceuticals Japan36

FY2023 2Q

Locations
SOSEI GROUPPMO Hanzomon 11F

Midtown East,

F17, 410 Teheran-Ro

Steinmetz Building

North West HouseVISCHER AG

2-1 Kojimachi,
Chiyoda-ku

9-7-2 Akasaka Minatoku

GangHam-Gu

Granta Park,

119 Marylebone Road

Aeschenvorstadt 4

Seoul 06192

Cambridge CB21 6DG

London NW1 5PU

4051 BaselTokyo 102-0083

Tokyo 107-0052

South Korea

United Kingdom

United Kingdom

Switzerland

Japan

Japan