Company: TELO
Filing Date: 2025-11-28
Form Type: PRER14A
Source: 0001493152-25-025406
Chunk: 219

Company: Telomir Pharmaceuticals, Inc.
Filing Date: 2025-11-28
Form: PRER14A
Chunk 219
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 the return on investment and the return on the market portfolio

Rm-Rf = Risk premium on risky assets above the risk-free interest rate

The Beta of the asset will be derived usually from the calculation of the actual beta of the share of the company, which is estimated, from a sample of similar listed companies, or from a database. First, the beta-share leveraged will be derived from peer group, and then re-leveraging will be carried out to reach the appropriate beta for the estimated company.

Sometimes it is common to include additional premiums for the cost of capital in respect of business risks which are not “perceived” by the CAPM, such as the premium for small companies (small-size premium) and other risk premiums.

| Moore Financial Consulting |

| Telomir Pharmaceuticals, Inc.Valuation | November 2025Page 14 of 24 |

Valuation

Methodology in Telomir’s valuation

Telomir’s valuation was performed under the income approach, using the Risk-Adjusted Net Present Value (rNPV)method. This method enhances standard DCF analysis by adjusting cash flow projections for the probability of success, i.e., adjusting for the probability of successfully advancing through clinical trials and regulatory approval. As a result, this method is also referred to as the expected net present value (eNPV) method. Among the various early-stage biotech valuation methods, the rNPV method is the most appropriate. This method is suited for valuing:

| ● | Preclinical                       
 and clinical stage biotech assets |

| ● | Novel                                           
 pharma and biotech drugs undergoing development |

| ● | Other                                                
 life sciences assets that undergo phased development |

The mechanics of rNPV involve:

| ● | Estimating                                
 clinical trial and approval probabilities |

| ● | Adjusting                                                
 cash flow projections for risk using these probabilities |

| ● | Discounting                               
 risk-adjusted cash flows to present value |

| ● | Summing                                 
 risk-adjusted cash flows to derive rNPV |

This captures the risks inherent in biotech drug development. rNPV provides a more accurate asset valuation than basic DCF as it enables conducting pharma and biotech valuation based on the stage (preclinical, Phase 1-3) of development of assets.

As mentioned in the company description, Telomir is currently in the process of developing its compound for two indications: Age Related Macular Degeneration (AMD) and Breast Cancer

We have valued Telomir under the assumption that these are the