#1atai LIFE SCIENCES Healing mental health disorders so that everyone everywhere can live a more fulfilled life. Company Overview - November 2022#2Disclaimer All references in this presentation to "we", "us", "our", "atai", or the "Company" refer to ATAI Life Sciences N.V. and its consolidated subsidiaries, unless the context otherwise requires. This presentation may include forward-looking statements. All statements other than statements of historical facts contained in this presentation, including statements regarding our future results of operations and financial position, industry dynamics, business strategy and plans and our objectives for future operations, are forward-looking statements. These statements represent our opinions, expectations, beliefs, intentions, estimates or strategies regarding the future, which may not be realized. In some cases, you can identify forward-looking statements by terms such as "may," "will," "should," "expects," "plans," "anticipates," "could," "intends," "targets," "projects," "contemplates," "believes," "estimates," "predicts," "potential" or "continue" or the negative of these terms or other similar expressions that are intended to identify forward-looking statements. Forward-looking statements are based largely on our current expectations and projections about future events and financial trends that we believe may affect our financial condition, results of operations, business strategy, short term and long-term business operations and objectives and financial needs. These forward-looking statements are subject to a number of risks, uncertainties and assumptions, including without limitation the important factors described in the section titled "Risk Factors" in our most recent Annual Report on Form 10-K filed with the Securities and Exchange Commission ("SEC"), as updated by our subsequent filings with the SEC, that may cause our actual results, performance or achievements to differ materially and adversely from those expressed or implied by the forward-looking statements. Moreover, we operate in a very competitive and rapidly changing environment. New risks emerge from time to time. It is not possible for our management to predict all risks, nor can we assess the impact of all factors on our business or the extent to which any factor, or Note: Unless otherwise stated, this presentation is as of October 31st, 2022 combination of factors, may cause actual results to differ materially from those contained in any forward-looking statements we may make. In light of these risks, uncertainties and assumptions, the forward-looking events and circumstances discussed in this presentation may not occur and actual results could differ materially and adversely from those anticipated or implied in the forward-looking statements. We caution you therefore against relying on these forward-looking statements, and we qualify all of our forward-looking statements by these cautionary statements. The forward-looking statements included in this presentation are made only as of the date hereof. Although we believe that the expectations reflected in the forward-looking statements are reasonable, we cannot guarantee that the future results, levels of activity, performance or events and circumstances reflected in the forward-looking statements will be achieved or occur. Moreover, neither we nor our advisors nor any other person assumes responsibility for the accuracy and completeness of the forward-looking statements. Neither we nor our advisors undertake any obligation to update any forward-looking statements for any reason after the date of this presentation to conform these statements to actual results or to changes in our expectations, except as may be required by law. You should read this presentation with the understanding that our actual future results, levels of activity, performance and events and circumstances may be materially different from what we expect. Unless otherwise indicated, information contained in this presentation concerning our industry, competitive position and the markets in which we operate is based on information from independent industry and research organizations, other third-party sources and management estimates. Management estimates are derived from publicly available information released by independent industry analysts and other third-party sources, as 02 well as data from our internal research, and are based on assumptions made by us upon reviewing such data, and our experience in, and knowledge of, such industry and markets, which we believe to be reasonable. In addition, projections, assumptions and estimates of the future performance of the industry in which we operate or of any individual competitor and our future performance are necessarily subject to uncertainty and risk due to a variety of factors, including those described above. These and other factors could cause results to differ materially from those expressed in the estimates made by independent parties and by us. Industry publications, research, surveys and studies generally state that the information they contain has been obtained from sources believed to be reliable, but that the accuracy and completeness of such information is not guaranteed. Forecasts and other forward-looking information obtained from these sources are subject to the same qualifications and uncertainties as the other forward-looking statements in this presentation. This presentation contains excerpts of testimonials from individuals who have been treated with compounds or derivatives of the compounds underlying our product candidates in the context of third-party studies or otherwise that are solely intended to be illustrative and not representative of the potential for beneficial results of such compounds. Our product candidates are in preclinical or clinical stages of development and none of our product candidates have been approved by the FDA or any other regulatory agency. Any trademarks included herein are the property of the owners thereof and are used for reference purposes only. Such use should not be construed as an endorsement of the products or services of the Company.#3atai Life Sciences: healing mental health disorders so that everyone everywhere can live a more fulfilled life 1 2 3 4 5 Mental health disorders have become one of largest global health burdens. Depression rates of US adults saw a ~3x increase since the onset of the COVID-19 pandemic¹ As a response to the technical risks associated with CNS drug development, atai focuses on compound classes with prior evidence in humans and utilizes a decentralized drug development process 12 active programs: 8 drug and discovery programs and 4 enabling technologies, focusing on differentiated, potentially disease-modifying therapies Validation of atai's operating model: IPO of COMPASS Pathways and validating license deal between Otsuka & Perception We have a strong cash position of approx. $312M (as of June 30th, 2022) and access to up to $175m from term loan facility with Hercules, giving cash runway into 2025 03. (1) THE COVID STATES PROJECT report (May 21, 2021)#4We are a founder-led team aiming to develop differentiated treatments for patients suffering from mental health disorders Christian Angermayer Founder & Chairman APEIRONⓇ INVESTMENT GROUP Alnylam /PHARMACEUTICALS Stephen Bardin CFO bridgebio MYOVANT SCIENCES The atai team has collectively led Florian Brand Co-Founder & CEO ROCKETINTERNET springlane 40+ Rolando Gutierrez, MD CMO Janssen Ill Bristol Myers Squibb NDAs through regulatory approval + Srinivas Rao, MD, PhD Co-Founder & CSO Depomed kyalin 140+ IND 04 applications#5Achieving sustained behavioural change in patients through a combined approach of rapid acting intervention, ongoing support and precision mental health Our Objective Key pillars Achieve clinically meaningful and sustained behavioural change in patients diagnosed with mental health disorders Rapid acting intervention (Focus: Rx) 1st, 2nd and 3rd generation compounds that result in rapid-acting improvement of mental health disorders Note: Rx = Prescription Therapeutics; DTX = Digital Therapeutics + Ongoing support (Focus: DTX) Additional care that is provided to patients before, during and after initial treatment interventions + tiivi Precision mental health (Focus: Biomarkers) 05. The identification of patient sub-types using biological and digital biomarkers#6We will deliver on our strategy through a robust pipeline with drug development programs across several mental health indications with large unmet need Program PCN-101/R-ketamine RL-007/Compound² GRX-917/Deuterated etifoxine DMX-1002/Ibogaine KUR-101/Deuterated mitragynine VLS-01/DMT EMP-01/MDMA derivative COMP360/Psilocybin³ COMP360/Psilocybin³ COMP360/Psilocybin³ Indication Treatment-Resistant Depression Cognitive Impairment Associated With Schizophrenia Generalized Anxiety Disorder Opioid Use Disorder Opioid Use Disorder Treatment-Resistant Depression Post-Traumatic Stress Disorder Treatment-Resistant Depression Post-Traumatic Stress Disorder Anorexia Nervosa Preclinical Phase 1 LIMITED TO EQUITY INTEREST Phase 2 Phase 3 Affiliate Company¹ Perception Neuroscience Recognify Life Sciences GABA Therapeutics DemeRx IB Kures Viridia Life Sciences Empath Bio Compass Pathways Compass Pathways Compass Pathways 06 Note: DMT = N,N-dimethyltryptamine; MDMA = 3,4-Methylenedioxymethamphetamine (1) Perception, Recognify, DemeRx IB, and Kures are all variable interest entities; GABA is a non-consolidated VIE with operational involvement through MSA model; EmpathBio and Viridia are wholly-owned subsidiaries; COMPASS Pathways is a non-controlling equity interests (2) RL-007 compound is (2R, 3S)-2-amino-3-hydroxy-3-pyridin-4-yl-1-pyrrolidin-1-yl-propan-1-one(L)-(+) tartrate salts (3) Developing COMP360, a formulation of psilocybin, administered with psychological support from specially trained therapists Chart updated as of 9/30/2022#7The atai platform enables improved probabilities of success across the pipeline via decentralized drug development, entrepreneurial teams and matrix framework RECOGNIFY LIFE SCIENCES gaba THERAPEUTICS KURES PERCEPTION NEUROSCIENCE atai LIFE SCIENCES Enabling Technologies¹ (1) Introspect, InnarisBio, IntelGenX, and Entheogenix DemeRxIB EmpathBio VIRIDIA LIFE SCIENCES Scalable drug or technological development in a capital efficient manner Impactful capital allocation and strategic value capture Decentralized operations with access to shared resources Process Action-oriented teams with backgrounds in multiple industries (Ⓒ Founder-led teams with scientific backgrounds Small teams with entrepreneurial autonomy develop compounds Operational involvement of interdisciplinary atai team YYYY) People Disciplined new program selection, focusing on differentiated mental health opportunities O Enabling Tech Diversified enabling tech portfolio leading to improved probability of success Formulation platforms Digital Therapeutics CMC capabilities 07#8We will build on recent success by delivering several meaningful R&D catalysts anticipated across our key programs in 2022, 2023 & 2024 Milestone highlights in 2021 Positive topline results in Phase 2b trial of COMP360 in TRD patients Successful outcomes of Phase 2a proof-of- mechanism trial of RL-007 in CIAS patients Successful outcomes of Phase 1 trial of PCN- 101 (R-ketamine) in healthy volunteers Collaboration agreement with Otsuka Pharma on development of PCN-101 (R- ketamine) in Japan Acquired or incubated 6 new platform companies (expanding to a total of 18 affiliates) Anticipated catalysts across 2022, 2023 & 2024 H2 2022 H1 2022 COMP360 Psilocybin end of Ph2 meeting with FDA PCN-101/R- ketamine Ph.2a results PCN-101/R- ketamine DDI results COMP360/ Psilocybin Ph.3 initiation GRX-917/Deuterated etifoxine Ph.1 results DMX-1002/lbogaine Ph.1 results KUR-101 / Deuterated mitragynine Ph.1 results. H1 2023 VLS-01/DMT Ph.1 results H2 2023 EMP-01/ MDMA derivative Ph.1 results H1 2024 RL-007 Ph.2b proof- of-concept results 08.#9We have cash runway into 2025 Issuer (ticker) ATAI Life Sciences N.V. (NASDAQ: ATAI) Market capitalization Outstanding shares Cash & cash equivalents ~$536M(1) 161.8M(2) $312 million as of June 30th, 2022 • Access to up to $175M from a term loan facility with Hercules Capital Well financed to fund planned operations into 2025 ● ● (1) Market capitalization assumes closing price of $3.31 as of September 30th, 2022 (2) Shares outstanding as of August 10th, 2022 ($) 09#10Depression 10#11Depression Opportunity Overview Depression is a mood disorder that affects the thoughts and behavior of an individual, leading to psychological, physical, and social problems First onset depression (MDD) Persistent depression (MDD) Depression in numbers Treatment resistant depression (TRD) Treatment resistant depression (TRD) is diagnosed after two failed courses of antidepressants ~300m Global sufferers of depression 2nd Leading cause of disability worldwide (2019)² ~$300bn U.S. economic burden from adults with MDD (direct + indirect costs)³ (1) World Health Organization (2020) (2) World Health Organization - Disease Burden 2000-2019 (2020) (3) Greenberg et al., "The Economic Burden of Adults with Major Depressive Disorder in the United States (2010 and 2018)" (2021) (4) Al-Harbi et al., "Treatment-resistant depression: therapeutic trends, challenges, and future directions" (2012) URGENT NEED FOR INNOVATION -30% Up to 12 weeks -38% 7 Inadequate response rate A third of patients with depression respond inadequately or relapse with current treatments and are classified as "treatment resistant" 4 Slow onset of treatment effect Frontline SSRI treatments for depression have slow onset (4-12w)5 11 Long-term side effects Over a third of patients experience one or more side effects as a result of SSRI antidepressants FDA approvals since 2017 Only 7 new drugs approved by the FDA for depression since 2017, less than 6% relative to oncology (N=116)' (5) Tew et al., "Impact of prior treatment exposure on response to antidepressant treatment in late life" Am J Geriatr Psychiatry (2006) (6) Cascade et al., "Real-World Data on SSRI Antidepressant Side Effects Psychiatry MMC (2009) (7) GlobalData (as of 12.09.2022). Excludes generics and biosimilars#12SUMMARY OWNERSHIP 22.5%¹ PRODUCT PHARMA- COLOGY PRODUCT FEATURES INDICATIONS CURRENT STATUS INTELLECTUAL PROPERTY HIGHLIGHT Oral Psilocybin (COMP360) 5-HT2A-R agonist Rapid onset, potential for sustained efficacy after single dose Primary: Treatment Resistant Depression, Anorexia Nervosa Potential: Major Depressive Disorder, Autism, Bipolar Disorder, Chronic Cluster Headache COMP360 Phase 3 (TRD) program expected to commence in 4Q 2022 COMP 360 Phase 2 (Anorexia) trial launched Proprietary formulation of synthetic psilocybin, COMP360 COMP360 demonstrated efficacy in reducing depressive symptom severity with rapid and durable response in Phase 2b study COMP360 Phase 2b trial showed a rapid, sustained reduction in depressive symptoms PRIOR EVIDENCE IN HUMANS (COMP360 PHASE 2B) Least squares mean change from baseline in MADRS total score O -8 -10 -12 -14 -16 233 treatment resistant depression patients with depression symptoms Day 1 Day 2 -COMP360 25mg Week 1 Week 3 --COMP360 10mg Week 3:25mg Diff = -6.6, p value = <0.001 vs 1mg 10mg Diff = -2.5, p value = 0.184 * = statistically significant treatment difference vs 1mg at visit Week 6 Week 9 COMP360 1mg Week 12 12 Source: Schedule 13D filed with the SEC as of November 29th, 2021 Note: MADRS = Montgomery-Åsberg Depression Rating Scale;; COMP360 = a proprietary high-purity, polymorphic crystalline formulation of psilocybin; In COMPASS's model of psilocybin therapy, COMP360 is administered in conjunction with psychological support from specially trained therapists. (1) Ownership percentage as of June 30th, 2022#13SUMMARY OWNERSHIP 100%¹ PRODUCT PHARMA- COLOGY PRODUCT FEATURES INDICATIONS CURRENT STATUS INTELLECTUAL PROPERTY HIGHLIGHT Dimethyltryptamine (DMT) in a buccal transmucosal film (VLS-01), DMT is the active psychedelic moiety in Ayahuasca 5-HT2A-R agonist Rapid onset, sustained efficacy after single dose, short duration of psychedelic effect (~30 to 45 minutes) Primary: Treatment Resistant Depression Potential: Eating Disorders, Substance Use Disorders Phase 1 clinical trial initiated in mid-'22 Filed provisional on formulations of DMT VLS-01 is designed to have an improved duration of psychedelic effect while improving tolerability VLS-01 may increase patient accessibility by reducing patient and clinic time commitment PRIOR EVIDENCE IN HUMANS (THIRD PARTY STUDY²) MADRS Score Double-blind, randomized placebo-controlled trial with Ayahuasca in 29 patients with TRD 45 40 35 30 25 20 15 10 5 0 HA Baseline p<.05 Day 1 p<.05 Day 2 HH p=.0001 Day 7 Note: MADRS: Montgomery-Asberg Depression Rate Scale. 1. Unless otherwise indicated herein, ownership percentage based on ownership of securities with voting rights as of June 30th, 2022 2. Palhano-Fontes et al. "Rapid antidepressant effects of the psychedelic ayahuasca in treatment-resistant depression", Psychol Med (2019) Ayahuasca 13 Placebo#14SUMMARY OWNERSHIP 58.9%¹ PRODUCT PHARMA- COLOGY PRODUCT FEATURES INDICATIONS CURRENT STATUS INTELLECTUAL PROPERTY HIGHLIGHT Subcutaneous R-ketamine (PCN-101) Glutamatergic modulator Rapid-acting, nonpsychedelic antidepressant with potential for at home use Primary: Treatment Resistant Depression Potential: Substance Use Disorder Phase 1 trial showed safety and tolerability of R-ketamine at doses of up to 150mg, Phase 2a proof-of-concept study initiated in Q3 2021 Issued methods of use of R-ketamine for treatment of depressive symptoms Third party study: Single IV dose (0.5 mg/kg) of R-ketamine led to a rapid and sustained decrease in MADRS in patients with TRD; dissociation was nearly absent² We aim to develop PCN-101 as a rapid acting antidepressant with potential for at-home use PRIOR EVIDENCE IN HUMANS (THIRD PARTY STUDY²) MADRS score 40 35 30 25 20 15 10 5 0 Pre- infusion 120 240 60 min min min 1 day 3 days 7 days DGHHBERG 17 16 15 14 13 12 11 10 9 8 7 6 5 4 3 2 1 0 Comparable S-Ketamine dose typically results in a CADSS score of 153 CADSS score below 4 considered "normal" Pre- infusion 40 min 120 min 14 240 min Note: MADRS = Montgomery-Asberg Depression Rate Scale, CADSS=Clinician-administered dissociative states scale, IV = Intravenous, PBO = Placebo. (1) Unless otherwise indicated herein, ownership percentage based on ownership of securities with voting rights as of June 30th, 2022. Perception does not give effect to the shares of common stock issuable after giving full effect to the anti-dilution feature of the Stock Purchase Agreement, which would not impact our majority position in Perception. (2) Leal et al., "Intravenous arketamine for treatment-resistant depression: open-label pilot study" (2020) (3) Singh et al. "Intravenous Esketamine in Adult Treatment-Resistant Depression", Biological Psychiatry (2016)#15R-ketamine vs. S-ketamine in preclinical models: Higher-potency, longer lasting antidepressant effect and lower potential for abuse Profile of R- vs. S-ketamine. HN Ketamine (racemate) S-ketamine HN HN R-ketamine R-ketamine lacks the psychotomimetic and abuse potential of S-ketamine at therapeutic doses in preclinical models. Like S-ketamine, R-ketamine's mechanism involves increased neuroplasticity through glutamatergic modulation, with potency differences putatively arising from: Different active metabolite profiles • Different pre- and post-synaptic sites of action • Involvement of different intracellular pathways (mTORC1 vs. ERK) More durable & effective Forced swim test¹ (third party study) Immobility time (s) 240 Escape failures 180 120 60 40 30 SAL 10 Learned helplessness test SAL 1 3 10 30 1 hour (S)-KET (mg kg-¹) (1) Zanos et al., "NDMAR inhibition-independent antidepressant actions of ketamine metabolites" (2016); (2) Yang et al., "R-ketamine: a rapid-onset and sustained antidepressant without psychotomimetic side effects" (2015). T 15 (S)-KET (mg kg-¹) 1 3 10 30 25 (R)-KET (mg kg-¹) 1 5 25 (R)-KET (mg kg-¹) SAL 24 hours 1 3 10 30 (S)-KET (mg kg-¹) 1 3 10 30 (R)-KET (mg kg-¹) R-ketamine outperformed and outlasted S-ketamine in mice; confirmed in multiple other animal models in different labs Lower potential for abuse Conditioned place preference score test² (third party study) CPP Scores CPP Scores 500 400 300 200 100 0 -100 500 400 300 200 100 0 -100 Saline. (RS)-Ketamine (10mg/kg) R-Ketamine < abuse potential Saline 5mg/kg 10mg/kg 20mg/kg (R)-Ketamine CPP Scores 500 400 300 200 100 0 -100 Saline 5mg/kg 10mg/kg 20mg/kg (S)-Ketamine R-ketamine showed less potential for abuse in mice models, while racemic and S-ketamine have significant risk Note: mTORC1 = Mechanistic target of rapamycin complex 1, ERK= Extracellular signal-regulated kinases. Sources: Wei et al., "A historical review of antidepressant effects of ketamine and its enantiomers" (2020); Chang et al., "Comparison of antidepressant and side effects in mice after intranasal administration of (R,S)-ketamine, (R)-ketamine, and (S)-ketamine Pharmacology Biochemistry and Behavior" (2019); 15#16CADSS Score² PCN-101 Phase 1 data: 30 & 60 mg dosing showed minimal to no dissociation (presented at NPDD summit¹) 16 14 12 10 5 4 3 2 1 0 CADSS score below 4 considered "normal" Baseline 15 minutes PCN-101 30mg n=6 (1) Phase 1 data presented at 4th Annual Neuropsychiatric Drug Development Summit (Sept 29th - 30th 2021) (2) CADSS = Clinician administered dissociative states scale (3) GHB = Gamma Hydroxybutyrate, used to treat Narcolepsy 40 minutes PCN-101 60mg n = 6 Placebo n = 12 90 minutes ▪ The Phase 1 data in healthy volunteers showed that PCN-101 was well tolerated at all doses up to 150 mg ■ 16 Importantly, the onset of dissociative and psychotomimetic effects was observed to occur at fourfold higher doses than the equimolar doses of S-ketamine (i.e. CADSS scores of 15) ▪ Based on the results, we have decided to test a 30mg and 60mg dose in the current Phase 2 proof-of-concept trial ▪ The associated CADSS score with these doses suggest at-home administration of PCN-101 could be feasible (versus in-clinic administration of S-ketamine) ▪ Dissociative compounds such as GHB3 have been commercialized by Jazz Pharmaceuticals under the Xyrem & Xywav brands#17Randomized Phase 2 study of PCN-101 expected to establish human proof-of-concept DAY -1 93 patients with TRD: 3 cohorts PBO VS. PCN-101 (30 mg & 60 mg) Design Overview 93 subjects (3 parallel arms of 31 subjects) Placebo vs. 30 and 60 mg intravenous Note: DDI - Drug-Drug Interaction 1 IN-CLINIC DOSING Primary endpoint Montgomery-Asberg Depression Rating Scale (MADRS) at 24 hours Clinician-Administered Dissociative States Scale (CADSS) key safety/tolerability readout Primary endpoint: MADRS at 24 hours ● 2 • ~8 FOLLOW-UP ~15 Other Important Items Data expected by year end 2022 Running across multiple sites in Europe and the U.S. Preparations to initiate the Phase 1 comparative bioavailability study to bridge from IV to a subcutaneous formulation continue Phase 1 DDI study will be completed this year 17#18Depression positioning and landscape: atai's programs are designed to be differentiated from one another and from competitors Company Compound Potential for at home use Potential for sustained efficacy Rapid onset of treatment effect¹ Mechanism of Action In-clinic duration Distribution channels TRD treatments being developed by atai companies Compass COMP360 (₁) (~) 5-HT2A-R agonist 6-8 hours New clinic infrastructure Viridia VLS-01 (✓) 5-HT2A-R agonist -2 hours S-ketamine + New clinic infrastructure Perception PCN-101 (₁) (~) ( Glutamatergic modulator ~2 hours S-ketamine + New clinic infrastructure J&J S-ketamine (₁) NMDA-R antagonist ~2 hours S-ketamine clinics Marketed therapies e.g. Lilly, Pfizer SSRI/SNRI O SERT/NET blockade N/A Pharmacies Axsome Auvelity (~) (✓) () NMDA-R antagonist N/A Pharmacies Various MIJ-821, NRX- 102, JNJ-5515 (Ⓒ) tbd tbd Phase II and III competitors NMDA-R/ mGluR2 antagonists tbd tbd GH Research 5-MeO-DMT 5-HT1A- and 5-HT2A- agonist tbd tbd Note: 5HT2A-R = Serotonin 2A receptor, KOR= kappa-opioid receptor, NMDA-R = N-methyl-D-aspartate receptor, NET = Norepinephrine transporter, SERT = Serotonin Transporter, mGluR2 = Metabotropic glutamate receptor 2, GABA = Gamma-aminobutyric acid, DMT = Dimethyltryptamine, 5-MeO-DMT = 5-methoxy-N,N-dimethyltryptamine, SSRI = Selective Serotonin Reuptake Inhibitor, SNRI = Selective serotonin-norepinephrine reuptake Inhibitor., COMP360 = a proprietary high-purity, polymorphic crystalline formulation of psilocybin; In COMPASS's model of psilocybin therapy, COMP360 is administered in conjunction with psychological support from specially trained therapists. Sources: GlobalData, Evaluate Pharma (both as of 2021), Uthaug, M. V. et al. Prospective examination of synthetic 5-methoxy-N,N-dimethyltryptamine inhalation: effects on salivary IL-6, cortisol levels, affect, and non-judgment. Psychopharmacology 237,773-785 (2019). company websites (1) Rapid onset of treatment effect versus standard of care 18 Sage / Praxis SAGE-217, PRAX-114 (~) tbd GABAA positive allosteric modulator tbd tbd#19Cognitive Impairment Associated with Schizophrenia 19#20CIAS & Schizophrenia Opportunity Overview Cognitive impairment associated with Schizophrenia & Schizophrenia often lead to individuals making choices they feel are out of their control Cognitive Impairment Associated with Schizophrenia (CIAS) & Schizophrenia CIAS & Schizophrenia in numbers There is no single test for Schizophrenia, with the conditional being diagnosed after assessment by a mental health specialist ~24m Global sufferers of Schizophrenia¹ 15th Leading cause of disability worldwide (2016)² ~$155bn U.S. economic burden from adults with CIAS or Schizophrenia (direct + indirect costs)³ HUGE NEED FOR DEVELOPMENT -20 yrs -30% ~80%6 (1) World Health Organization (2) Global, regional, and national incidence, prevalence, and years lived with disability for 328 diseases and injuries for 195 countries, 1990-2016: al systematic analysis for the Global Burden of Disease Study 2016 (3) Cloutier et al, The economic burden of schizophrenia in the United States in 2013. J Clin Psychiatry 2016;77(6):764-771 (4) Bora et al, Cognitive Impairment in Schizophrenia and Affective Psychoses: Implications for DSM-V Criteria and Beyond 0 Lost life expectancy4 Schizophrenia results in a life expectancy of approximately 20 years below that of the general population Low treatment rate5 Only -30% of people with psychosis receive specialist mental health care Cognitive impairment is very common Cognitive impairment is a common and major cause of disability in schizophrenia, with more than 80% of patients showing significant impairment FDA approvals for CIAS Currently there are no FDA approved treatments for CIAS 20 (5) World Health Organization (6) Bora et al, Cognitive Impairment in Schizophrenia and Affective Psychoses: Implications for DSM-V Criteria and Beyond#21RL-007: a de-risked pro-cognitive neuromodulator with excellent tolerability in humans RL-007: demonstrated pro-cognitive treatment for CIAS 1. Pharma developed product in-licensed with extensive pre-clinical & clinical data package 2. Human Phase 1+2 data show replicated, clinically significant learning and memory effects, consistent with broad pre-clinical pro-cognitive data 3. Well tolerated (>500 subjects dosed), centrally acting oral drug 4. Initial indication: cognitive impairment associated with schizophrenia (CIAS) is characterized by episodic learning and memory deficits - no approved treatment In Vitro Enhanced Synaptic Plasticity In Vivo Broad Cognitive Efficacy across Species Predictive Dose Modeling Defined CNS Drug Exposure Cognition Relationship Phase 1, CSF Concentration Well Behaved PK Confirms CNS Exposures Phase 1b Cognitive Challenge Scopolamine Challenge Confirm Cognition Dose Range Phase 2A, DPNP Showed Cognitive Improvements in Metabolic Syndrome Phase 2a, CIAS Confirmed CNS engagement and Cognitive Signal Consistent PK-PD relationship Confidence in active dose range Complete CMC package Excellent tolerability and safety Multiple clinical cognitive signals De-risked path forward 21#22SUMMARY OWNERSHIP 51.9%¹ PRODUCT PHARMA- COLOGY PRODUCT FEATURES INDICATIONS CURRENT STATUS INTELLECTUAL PROPERTY HIGHLIGHT (2R, 3S)-2-amino-3-hydroxy-3-pyridin-4-yl-1- pyrrolidin-1-yl-propan-1-one(L)-(+) tartrate salt oral capsules (RL-007) Cholinergic, glutamatergic and GABA-B receptor modulator No drug-related serious adverse events in over 500 study subject exposures, pro-cognitive effects demonstrated in two Phase 1 and two Phase 2 trials Primary: Cognitive Impairment Associated with Schizophrenia Potential: Autism, Alzheimer's dementia Phase 2a trial completed in H2'21 Issued composition of matter, formulation and method of use patents Previous Phase 2 showed pro-cognitive potential of RL-007 in 180 patients with diabetic peripheral neuropathic pain 22 RL-007 has previously shown pro-cognitive effects in human clinical studies "Symbol coding response is at a level that would correlate with better work/school performance" - Keith Nuechterlein EFFICACY DATA T-Scores (Normalized for age, gender, and education level) 10 5 O -5 4 COHORTS HVLT 31 Schizophrenia patients COMPLETED PHASE 2 POM TRIAL: Single-arm, single-blind dose-ranging clinical trial Symbol Coding 10mg 20mg 40mg ■80mg n=7 n=8 n=8 n=8 DAY -1 Category Fluency 1 RL-007 TID 2 Primary endpoint: Safety and tolerability 3 4 Improved Cohen's d* (Symbol Coding): 20 mg: 0.79 40 mg: 0.56 80 mg: 0.38 *Day 4 vs Day 2 Note: CIAS = Cognitive impairment associated with schizophrenia; RL-007 is (2R, 3S)-2-amino-3-hydroxy-3-pyridin-4-yl-1-pyrrolidin-1-yl-propan-1-one(L)-(+) (1) Unless otherwise indicated herein, ownership percentage based on ownership of securities with voting rights as of June 30th, 2022. (2) Verbal learning was assessed by the "International Shopping List Task" (ISLT) (3) Verbal delayed recall was assessed by ISLT with a delayed recall, as a parameter for short-term memory FOLLOW-UP 8 Secondary endpoint: EEG-based biomarkers of cognition tartrate salt; TID denotes 3x/day dosing#23Additionally, a Phase 2 study in DPNP of RL-007 also showed statistically significant positive cognitive signals RL-007 low doses enhanced learning and memory Verbal learning (DPNP) Placebo Cohen's d effect size) Diff. vs. 0.35 0.25 0.2 0.15 0.1 0.05 Pregabalin (50-100 mg TID) I T RL-007 (40 or 80 mg TID) Dose RL-007 (150 or 300 mg TID) Delayed recall (DPNP) Cohen's d effect size) Diff. vs. Placebo 0.4 0.3 0.2 0.1 lo -0.1 -0.2 -03 Pregabalin (50-100 mg TID) (Phase 2 exploratory endpoints - 180 patients) Indicates direction of improvement Note: * = P<0.05 vs Placebo; **missed significance (P=0.075); Diabetic Peripheral Neuropathic Pain (DPNP) n=60 patients/treatment group; dosed TID; randomized, cross-over design 1 I I RL-007 (40 or 80 mg TID) Dose I I 23 ** RL-007 (150 or 300 mg TID)#24CIAS Phase 2a study showed wide-spread beneficial qEEG changes I EEG data confirmed CNS activity in schizophrenia population Dose dependent, widespread qEEG changes observed across brain regions EO - Increased alpha/ASI (middle & high doses) decreased beta (lowest dose) EC - Observed elevations in resting state alpha increased ASI and decreased TBR Suggesting a relaxed wakeful state without drowsiness at the mid to high dose levels 24#25CIAS & Schizophrenia landscape: RL-007's unique pharmacology, acute cognitive benefit and excellent tolerability differentiate it from the current standard of care available to CIAS & Schizophrenia patients Compound Development stage Mechanism of action Focused on treating cognitive impairment Potential for complimentary use with other therapies atai affiliate company Recognify RL-007 Phase 2 GABA/nicotinic modulator Boehringer Ingelheim BI-425809 Phase 2 GlyT1 inhibitor Biogen BIIB-104 Phase 2 AMPA agonist Key therapies in development for Schizophrenia Karuna Therapeutics KarXT Phase 3 Muscarinic M1/M4 receptor agonist Minerva Biosciences MT-210 Phase 3 5-HT2a/Sigma 2 receptor antagonist Sunovion SEP-363856 Phase 3 TAAR1 agonist Takeda 25 NBI-1065844 Phase 2 DAAO inhibitor#26Anxiety 26#27Anxiety Opportunity Overview Anxiety disorders develop when feelings of apprehension and unease persist over an extended period and potentially worsen over time Generalized Anxiety Disorder (GAD) Panic Disorder Anxiety in numbers Social Anxiety Disorder (SAD) Post- Traumatic Stress Disorder (PTSD) Obsessive- Compulsive Disorder (OCD) ~40m Anxiety disorder sufferers of in the US #1 Most common mental health disorder in the US¹ ~$42bn Annual societal cost of anxiety disorders in the US³ (1) National Alliance on Mental Illness (2021) (2) Anxiety and Depression Association of America (2021) (3) DeVane et al., "Anxiety Disorders in the 21st Century: Status, Challenges, Opportunities, and Comorbidity With Depression", AJMC (2005) MASSIVE UNADDRESSED NEED ~7m <50% -50% 3 27 GAD sufferers in the US Approximately 7 million individuals suffer from GAD in the US on an annual basis² Low treatment rate Less than half of patients with anxiety disorder in the US receive treatment Anxiety & depression are complimentary It is estimated that half of patients diagnosed with depression also suffer from an anxiety disorder Limited treatment options Currently SSRIs, Benzodiazepines, or Psychotherapy are the only treatment options for anxiety disorder#28SUMMARY OWNERSHIP 53.8%¹ PRODUCT PHARMA- COLOGY PRODUCT FEATURES INDICATIONS CURRENT STATUS INTELLECTUAL PROPERTY HIGHLIGHT Deuterated etifoxine HCI oral dosage form (GRX-917) Etifoxine facilitates endogenous production of neurosteroids like allopregnanolone through agonist activity at the mitochondrial translocator protein (TSPO) GRX-917 is designed to have rapid onset activity of anxiolytic activity like benzodiazepines but without the sedating, addicting, or cognitive impairing properties Primary: Generalized Anxiety Disorder Potential: Social Anxiety Disorder, Postpartum Depression Phase 1 trial initiated in H1'21 Issued composition of matter on deuterated etifoxine (GRX-917) and corresponding methods of use GRX-917 is aimed to be an improved version of Etifoxine, which already showed promising results 28 GRX-917 has the potential for benzodiazepine-like rapid- onset efficacy with improved safety and tolerability ETIFOXINE HAS BEEN APPROVED FOR ANXIETY DISORDER SINCE 1979 WITH 14M+ PRESCRIPTIONS Etifoxine works as rapidly as lorazepam, with etifoxine continuing its effects beyond treatment, while lorazepam shows rebound Etifoxine has a strong safety record: a review of over 14m prescriptions in France found no cases of abuse, misuse or dependence³ ONGOING PHASE 1 TRIAL Part 1: Single Ascending Dose TREATMENT Up to 40 healthy subjects: Up to 5 cohorts SAFETY/PK/PD PD Endpoint: qEEG Ham-A total score 30 (2) Nguyen et al., "Efficacy of etifoxine compared to lorazepam monotherapy" (2006) (3) Cottin et al., "Safety profile of etifoxine: A French pharmacovigilance survey" (2016) 20 15 5 0 THIRD PARTY STUDY² Non Inferiority Test Day 0 P=0.0001 Day 7 Under treatment P=0.0002 TREATMENT Day 28 Part 2: Multiple Ascending Dose Day 35 Safety Up to 36 healthy subjects: Up to 3 cohorts SAFETY/PK/PD Note: HAM-A = Hamilton Anxiety Rating Scale, SD = standard deviation, qEEG = Quantitative electroencephalography, PK = Pharmacokinetics. PD = Pharmacodynamics. (1) Unless otherwise indicated herein, ownership percentage based on ownership of securities with voting rights as of June 30th, 2022. Etifoxine Lorazepam PD Endpoint: qEEG#29SUMMARY There is an unmet need in GAD for therapies with rapid onset, high efficacy, and minimal side effects SSRI's are current standard of care for GAD but require 4-6 weeks for onset of effect and have several disadvantages¹: 1. SSRI/SNRI-specific inadequacy 2. Lack of tolerability 3. Patient nonadherence to medications that fail to relieve symptoms of anxiety quickly Benzodiazepines are second-line treatment, offering fast and effective relief, but carrying significant risk of: 1. Sedation 2. Impaired cognition 3. Dependence/addiction I GRX-917 can fill unmet need in Generalized Anxiety Disorder (GAD) with rapid onset and favorable safety profile Overview of Current Therapeutic Options for Generalized Anxiety Disorder Examples Mechanism of action Class Benzoxazine* Selective Serotonin Reuptake Inhibitor (SSRI) Serotonin and Norepinephrine Reuptake Inhibitor (SNRI) Benzodiazepines Tricyclic Antidepressant (TCA) Azapirones Gabapentinoid deu-etifoxine (GRX-917) Escitalopram Venlafaxine Alprazolam Imipramine Buspirone Pregablin GABA Channel and TSPO Potentiation Source: Global Data, Evaluate Pharma (both as of 19.03.2021) (1) DeMartini et al., "Generalized Anxiety Disorder" (2019) SERT blockade SERTAND NET blockade GABAA Potentiation Mixed MoA partial 5-HT1A agonist VDCC inhibition Favorable safety profile Rapid Onset Minimal Side Effects 29 Non- addictive Note: GABA = Gamma aminobutyric acid, SERT = serotonin transporter, NET = seratonin transporter; MoA = Mechanism of Action; 5HT1a = serotonin 1A receptor; VDCC = voltage dependent calcium channel; TSPO= mitochondrial translocator protein Anticipated pharmacological profile based on etifoxine *First trial expected to be in SAD#30Substance Use Disorder 30#31Substance Use Disorder (SUD) Opportunity Overview Substance use disorders are highly prevalent disorders characterized by an inability to control the use of a legal or illegal drug, medication or another psychoactive compound Substance Use Disorder SUD) SUD in numbers Opioid Use Disorder (OUD) ~20m+ US sufferers of SUD in 2019 ~70k US deaths from opioid drug overdose in 2020³ $787bn Societal cost associated with OUD in the US4 AN ONGOING PANDEMIC ~3m ~75% -93,000 2 Number of OUD sufferers in US Approximately 3 million individuals in the US suffered from OUD in 2020² High relapse rates Approximately ~75% of patients undergoing OUD therapy experience relapse within one year5 31 Drug overdose deaths increase -30% COVID-19 severely exacerbated the crisis for those with a SUD; drug overdose deaths increase ~30% with close to 93,000 deaths in 2020; nearly 70,000 of which involved opioids Treatment options for OUD Currently the only two treatment options for OUD are synthetic opioid receptor agonists (methadone & buprenorphine) and opioid antagonists (naltrexone and naloxone) (1) SAMSHA - Key Substance Use and Mental Health Indicators in the United States: Results from the 2019 National Survey on Drug Use and Health) (4) Murphy, "The cost of opioid use disorder and the value of aversion" (2020) (2) Azadfard et al., "Opioid Addiction" (2020) (5) Sinha, "New Findings on Biological Factors Predicting Addiction Relapse Vulnerability" (2011) (3) Ahmad FB, Rossen LM, Sutton P. "Provisional drug overdose death counts". National Center for Health Statistics (2021)#32SUMMARY OWNERSHIP 59.5%¹ PRODUCT PHARMA- COLOGY PRODUCT FEATURES INDICATIONS CURRENT STATUS INTELLECTUAL PROPERTY HIGHLIGHT Ibogaine HCI capsules (DMX-1002), ibogaine is a naturally occurring psychedelic compound isolated from a West African shrub, iboga Opioid mediated, cholinergic, glutamatergic and monoaminergic receptor modulator A single dose of ibogaine may precipitate a rapid withdrawal and long-term abstinence in OUD patients Primary: Opioid Use Disorder Potential: Substance Use Disorder, Post- Traumatic Stress Disorder, Traumatic Brain Injury Phase 1/2 trial initiated Q3 '21 Pending method of treatment claims for OUD for ibogaine, issued method of treatment claims for OUD patients on methadone for noribogaine³ Potential sustained reduction in opioid craving with DMX-1002 single administration A single-dose of ibogaine showed potential for sustained reductions in opioid cravings in 75 opioid- dependent patients PRIOR EVIDENCE IN HUMANS (THIRD PARTY STUDY²) HCQN Subscale 5 0 Pre-dose (N=75) ONGOING PHASE 1/2 TRIAL TREATMENT (MULTIPLE DOSES) + Stage 1: Maximum Tolerated Dose Subject cohort: Recreational opioid users (up to 24 subjects) Discharge (N=74) SAFETY/PK Objective: Dose finding 1 Month (N=37) Emotionality (negative mood state) Compulsivity (lack of confidence in ability to quit) Purposefulness (desire of intent to use) Expectancy (expected positive benefits of drug use) Stage 2: Proof of Concept TREATMENT VS PCB Patient cohort: Opioid dependent patients (approximately 80 subjects) 32 SAFETY/EFFICACY Endpoints: Acute withdrawal, abstinence over 90 days Note: HCQN = Heroin Craving Questionnaire, PTSD = Post-traumatic stress disorder, OUD = Opioid use disorder, PCB = Placebo, PK = Pharmacokinetics. (1) Unless otherwise indicated herein, ownership percentage based on ownership of securities with voting rights as of June 30th, 2022. Refers to ownership in DemeRx IB. DemeRx NB ownership is 6.3%, which does not give effect to option to acquire further shares which may increase the ownership to up to 57.1% (2) Mash et al., "Ibogaine Detoxification Transitions Opioid and Cocaine Abusers Between Dependence and Abstinence: Clinical Observations and Treatment Outcomes" (2018) (3) Noribogaine Intellectual property resides in DemeRx NB#33SUMMARY DMX-1002 could potentially become a paradigm-shifting therapy for Opioid Use Disorder Current standard of care for OUD is medication therapy, requiring opioid substitutes that carry significant side effects Current strategies for withdrawal support have high rates of relapse • ● C ● ● ● C ● ● ● ● ● Disease Modification Single dose administered in monitored setting, providing both withdrawal. i support and oneiric experience I with goal of complete remission DMX-1002 has the potential to become the first & best in-class treatment for OUD, minimizing risk of relapse ● Withdrawal Support² • Therapies given for . symptomatic management during supervised withdrawal. (detoxification) ● ● ● ● ● ● ● Medication Assisted Therapy! Daily therapy given in substitution of opioid in outpatient setting in attempt to wean off from opioid . ● ● ● ● . ● ● ● ● • ● ● Therapy Ibogaine (DMX-1002) DemeRx Clonidine Lofexidine Methadone Buprenorphine Naltrexone ● ● Source: Global Data, Evaluate Pharma (both as of 2021) (1) Current Standard of Care (2) Rarely used given high rates of relapse. Used primarily in institutional or penitentiary settings. ● ● ● e Mechanism of Action Mixed MoA Alpha-2 agonist Alpha-2 agonist Mu-agonist Partial Mu-agonist Mu-antagonist ● ● ● ● ● ● ● ● ● Single Therapeutic Episode (~) (✓ No Opioid Side Minimal Abuse Effects Potential (3) (₁) (✓) (₁) 33 High Adherence / Low Risk of Relapse ✓ ● ● ● ● ● ● ● ● • ● ● ● ● ●● ● ● ● ● ● ● ●#34Enabling Tech 34#35Our formulation & biomarker stratification companies provide an additional avenue of growth & innovation to the atai platform IntroSpect Digital therapeutics platform dedicated to improving patient outcomes through personalized care ■ Wholly owned platform company Introspect is focused on developing digital tools and devices in order to provide personalized clinical psychotherapy through the use of biomarkers IntroSpect's DTx is incorporated into clinical development plans for various atai pipeline products, including Viridia and Empath Bio EntheogeniX ■ ■ Al-enabled computational biophysics generating next generation of psychedelics- inspired mental health drugs Joint venture with Cyclica, a leading biotechnology company utilizing artificial intelligence and computational biophysics to streamline the drug discovery process Selecting for desirable pharmacological targets while avoiding undesirable anti-targets Cyclica's patented platforms allow researchers to visualize the complete polypharmacological profile of a compound InnarisBio Dedicated to developing a sol- gel based, intranasal excipient technology to facilitate nose- to-brain delivery of platform compounds Joint venture with UniQuest, the commercialization and technology transfer company of the University of Queensland, Australia InnarisBio uses a non- invasive, nose-to-brain delivery technology is designed to avoid systemic circulation and first-pass metabolism Potential advantages include increased patient compliance, ease of administration, and rapid onset of action IntelGenx ■ ■ An OTF manufacturer in Canada with a Canadian Schedule 1 license, allowing it to develop re-formulations of scheduled compounds 35 Strategic partnership with a minority ownership of 25% IntelGenx is developing an OTF formulation of Viridia's VLS-01, which is designed to enable delivery of therapeutics through oromucosal absorption Oromucosal absorption avoids the stomach and first-pass metabolism, therefore, allowing for non-invasive delivery of non-orally bioavailable therapeutics#36"Watching my best friend and business partner suffer, being let down by existing treatments and finally finding comfort in psychedelic therapies, was all the inspiration I needed to commit my life to this cause." Florian Brand | CEO | atai life sciences 36