#1Corporate Presentation JANUARY 2022 .:) Comera LIFE SCIENCES#2Disclaimer )< Comera LIFE SCIENCES These slides and any related presentation by management of Comera Life Sciences ("Comera") (collectively, the "presentation") are intended to be provided only to accredited institutional investors who are considering an investment in Comera Life Sciences, and for no other purpose. The information provided in the presentation is intended to highlight certain matters bearing upon the current status of Comera Life Sciences that may be of interest to potential investors. The information provided is not complete, comprehensive or exhaustive, and any potential investor wishing to obtain additional information about topics referenced in the presentation, or other matters in connection with a potential investment, is encouraged to contact Comera Life Sciences. These slides are intended for limited circulation, and the information provided in the presentation is provided on a confidential basis. Potential investors acknowledge and agree that they will hold the information and all related documents and disclosures in the strictest confidence. The presentation is not intended for public use or distribution, and dissemination, publication, distribution, disclosure, copying or use of the information or disclosures provided in the presentation is expressly prohibited. The presentation shall not constitute an offer to sell, or the solicitation of an offer to buy, any securities, nor shall there be deemed to be any offer solicitation or sale of securities in any state or country in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or country. Forward-Looking Statements This presentation contains certain forward-looking statements within the meaning of the federal securities laws with respect to the proposed business combination between OTR and Comera, including statements regarding the benefits of the transaction, the anticipated timing of the transaction, the products offered by Comera and the markets in which it operates, and Comera's projected future results. These forward-looking statements generally are identified by the words "believe," "project," "expect," "anticipate," "estimate," "intend," "strategy," "future," "opportunity," "plan," "may," "should," "will," "would," "will be," "will continue," "will likely result," and similar expressions. Forward-looking statements are predictions, projections and other statements about future events that are based on current expectations and assumptions and, as a result, are subject to risks and uncertainties. Many factors could cause actual future events to differ materially from the forward-looking statements in this document, including, but not limited to: (i) the risk that the transaction may not be completed in a timely manner or at all, which may adversely affect the price of OTR's securities, (ii) the risk that the transaction may not be completed by OTR's business combination deadline and the potential failure to obtain an extension of the business combination deadline if sought by OTR, (iii) the failure to satisfy the conditions to the consummation of the transaction, including the adoption of the business combination agreement by the stockholders of OTR, the satisfaction of the minimum trust account amount following redemptions by OTR's public stockholders, (iv) the lack of a third party valuation in determining whether or not to pursue the proposed business combination, (v) the occurrence of any event, change or other circumstance that could give rise to the termination of the business combination agreement, (vi) the effect of the announcement or pendency of the transaction on Comera's business relationships, performance, and business generally, (vii) risks that the proposed business combination disrupts current plans of Comera and potential difficulties in Comera's employee 2#3Disclaimer (Continued) retention as a result of the proposed business combination, (viii) the outcome of any legal proceedings that may be instituted against Holdco, Comera or OTR related to the business combination agreement or the proposed business combination, (ix) the ability to maintain the listing of OTR's securities on the Nasdaq, (x) the price of Holdco's securities may be volatile due to a variety of factors, including changes in the competitive and highly regulated industries in which Comera operates, variations in performance across competitors, changes in laws and regulations affecting Comera's business and changes in the combined capital structure, (xi) the ability to implement business plans, forecasts, and other expectations after the completion of the proposed business combination, and identify and realize additional opportunities, (xii) the risk of downturns and the possibility of rapid change in the highly competitive industry in which Comera operates, (xiii) the risk that Comera and its current and future collaborators are unable to successfully develop and commercialize Comera's products or services, or experience significant delays in doing so, (xiv) the risk that Comera may never achieve or sustain profitability; (xv) the risk that Comera will need to raise additional capital to execute its business plan, which many not be available on acceptable terms or at all; (xvi) the risk that the post-combination company experiences difficulties in managing its growth and expanding operations, (xvii) the risk that third-parties suppliers and manufacturers are not able to fully and timely meet their obligations, (xviii) the risk of product liability or regulatory lawsuits or proceedings relating to Comera's products and services, and (xix) the risk that Comera is unable to secure or protect its intellectual property and (xx) the risk that the post-combination company's securities will not be approved for listing on Nasdaq or if approved, maintain the listing. The foregoing list of factors is not exhaustive. You should carefully consider the foregoing factors and the other risks and uncertainties described in the "Risk Factors" section of OTR's Annual Report on Form 10-K, Quarterly Reports on Form 10-Q, Holdco's registration statement on Form S-4 and the proxy statement/prospectus discussed above and other documents filed by Holdco or OTR from time to time with the SEC. These filings identify and address other important risks and uncertainties that could cause actual events and results to differ materially from those contained in the forward-looking statements. Forward-looking statements speak only as of the date they are made. Readers are cautioned not to put undue reliance on forward-looking statements, and Holdco, Comera and OTR assume no obligation and do not intend to update or revise these forward-looking statements, whether as a result of new information, future events, or otherwise. Neither Holdco, Comera nor OTR gives any assurance that either Comera or OTR will achieve its expectations. )< Comera LIFE SCIENCES 3#4Disclaimer (Continued) (.<) Comera LIFE SCIENCES Important Information About the Proposed Business Combination and Where to Find It In connection with the proposed business combination, Holdco intends to file a registration statement on Form S-4 (initially on a confidential basis) that will include a proxy statement of OTR and a prospectus of Holdco. The proxy statement/prospectus will be sent to all OTR and Comera stockholders. Holdco also will file other documents regarding the proposed business combination with the SEC. Before making any voting decision, investors and securities holders of OTR and Comera are urged to read the proxy statement/prospectus and all other relevant documents filed or that will be filed with the SEC in connection with the proposed business combination as they become available because they will contain im portant information about the proposed business combination and the parties to the proposed business combination. Investors and securities holders will be able to obtain free copies of the proxy statement/prospectus and all other relevant documents filed or that will be filed with the SEC by Holdco through the website maintained by the SEC at www.sec.gov. In addition, the documents filed by OTR may be obtained free of charge from OTR's website at https://www.otracquisition.com/ or by written request to OTR Acquisition Corp., 1395 Brickell Avenue, Suite 800, Miami, Florida 33131. Participants in the Solicitation Holdco, OTR and Comera and their respective directors and officers may be deemed to be participants in the solicitation of proxies from OTR's stockholders in connection with the proposed business combination. Information about OTR's directors and executive officers and their ownership of OTR's securities is set forth in OTR's filings with the SEC, including OTR's Annual Report on Form 10-K for the fiscal year ended December 31, 2020, which was filed with the SEC on March 3, 2021 as amended on December 13, 2021. To the extent that holdings of OTR's securities have changed since the amounts printed in OTR's Annual Report, such changes have been or will be reflected on Statements of Change in Ownership on Form 4 filed with the SEC. Additional information regarding the interests of those persons and other persons who may be deemed participants in the proposed business combination may be obtained by reading the proxy statement/prospectus regarding the proposed business combination when it becomes available. You may obtain free copies of these documents as described in the preceding paragraph. 4#5Overview of OTR Acquisition Corp. OTR's team has significant public company experience to support Comera's growth plans 100+ years combined investing & operating experience Nicholas J. Singer Chairman & CEO ● Growth oriented investors & operators ● PURCHASE CAPITA STANDARD GENERAL Brooklyn United Parks Z 20+ years of experience in finance and investments Co-Founder of two hedge funds that managed each in excess of a billion dollars Robust M&A and capital markets experience INTEGRICO • Founder & Executive Chairman of United Parks Executive Chairman of IntegriCo Composites Chairman of Only What You Need (OWYN) Former Board Member of Brooklyn ImmunoTherapeutics (Nasdaq: BTX) OWYN Long-term track record of value creation across sectors Douglas Anderson CFO & Director United Parks EY ZAN David Neithardt Director GENERAL AMERICAN OTR Acquisition HAMMOCK PARK CAPITAL HCI OWYN Life sciences experience 1848 Capital Partners, LLC PARC 5#6Comera Life Sciences Investment Highlights Proprietary Excipient Technology Platform Significant Opportunity Multiple Pharmaceutical Partnerships Proprietary Product Pipeline Expertise and Intellectual Property Compelling Valuation and Attractive Entry Point ● ● ● ● ● )< Comera Proprietary SQore excipient platform technology to develop subcutaneous biologics for improved patient outcomes Lead caffeine-based patented excipient validated in peer-reviewed study and initial in vivo safety studies provide evidence of tolerability Most biologics delivered intravenously despite significant limitations for patients and healthcare system $220B addressable market in 2020 and expected to grow to $422B in 2025 Proprietary pipeline of biologics in development targeting substantial markets and high unmet needs First IND filing expected in Q1 2024 Team with successful track record of drug development and life sciences operating experience Extensive IP protection LIFE SCIENCES Agreements with top-tier pharma collaborators for high-value, late-stage/marketed, licensed products with significant licensing, milestone payment and royalty potential Additional partnerships expected Proprietary platform enables potential for significant value creation As Comera continues to execute on its business plan, it should trade in line with more developed biologics companies that tend to trade at higher valuations 6#7Experienced and Accomplished Management Team James Sherblom Executive Chairman SANOFI GENZYME MassBio MASSACHUSETTS BIOTECHNOLOGY COUNCIL seaflower ventures Jeffrey S. Hackman Chief Executive Officer EUSAPharma Baxalta Shire novelion THERAPEUTICS Osigma-tau PHARMACEUTICALS. INC. MedImmune Neal 1. Muni, MD, MSPH Chief Operating Officer azurity pharmaceuticals BWH BRIGHAM AND WOMEN'S HOSPITAL LEERINK H SUNOVION Innovation today, healthior tomorrows фCUTISPHARMA' HARVARD MEDICAL SCHOOL WYSS INSTITUTE FDA Robert Mahoney, Ph.D. Chief Scientific Officer SOANE Comera LIFE SCIENCES ENERGY CROP ENHANCEMENT NALCO Water An Ecolab Company Successful track record of drug development and life sciences operating expertise Polymer Ventures 7#8● Board of Directors: Top-Tier Pharma Expertise • A founder of Mass Bio Council ● James Sherblom Executive Chairman Former SVP & CFO, Genzyme; led first IPO Former Chairman and CEO, Transgenic Sciences Founding & Managing Partner, Seaflower Ventures • Activist Social Impact Investor • Vice Chair, Grain Pro Inc. ● ● ● Jeff Hackman President/CEO 30 years experience in Pharma and Biotech Former CEO Novelion Head of U.S. Internal Medicine & Oncology for Shire. Region head for North America at Baxalta. Commercial VP roles at Sigma Tau, Intercell, Emergent BioSolutions and Med Immune ● ● ● Roopom Banerjee, PhD Managing Partner of White Leaf Advisors, Strategic Advisor of Bain Capital and Operating Operator of CRG LP Chief Strategy and BD Officer for Agendia Board Member of SAGA Diagnostics AB Former President and CEO of Rain Dance Technologies ● Board-certified rheumatologist 25+ years of preclinical & clinical drug development ● • Acting CMO of Coherus Barbara Finck, MD . • VP Clinical development at Alza, Eos, PDL & Immunex • CMO at Osprey Pharmaceuticals and NK Therapeutics Kirsten Flowers 15 years Pharma and Biotech Currently CCO for Kura Oncology Previously SVP of Commercial Operations at Array Biopharma Before Array Kirsten held several leadership positions with Pfizer Stuart Randle • 30 years experience in Pharma and Biotech • Division President of Baxter Healthcare • CEO of ACT Medical President and CEO of GI Dynamics ● Most recently President and CEO of Ivenix Board Member of Teleflex and Beacon Roofing Supply Edward Sullivan ● 35 years experience in Pharma and Biotech advising companies from early-stage IPO to multi-billion-dollar companies • Trusted counselor to multinational corporations helping them through years of growth and transformational change ((.)) ● John Yee, MD Comera • Board-certified rheumatologist 20+ years academia & Industry CMO of Sobi North America Medical lead at Genzyme, Flexion, Vertex, Intarcia, AstaZeneca Boston Children's Hospital & Harvard Medical School LIFE SCIENCES ● ● ● William Wexler OTR BOD Rep. 30 years experience in finance, operations, general corporate restructuring and, most recently, energy and power generation Homer City Holdings: Chairman & CEO Upstate New York Power Producers: former Chairman and CEO • VMR Electronics: former Chief Restructuring Officer 8#9·•)< Comera LIFE SCIENCES Leading a compassionate new era in medicine. True medical advances don't spring from technology, experience, or even genius. They're inspired by compassion. We apply a deep knowledge of formulation science and technology to transform essential biologic medicine from IV to subcutaneous ("SQ") forms, providing patients and families with the freedom of self injectable care to fully realize the potential of these life-changing therapies - and the vast potential of their own lives. 9#10Biologics Market is Massive and Growing Rapidly Global biologics market was $286B in 2020 and expected to grow to $422B in 20251 7 of the top 10 global medicines are biologics² Products across all major therapeutic indications Biologics are at the vanguard of cutting-edge biomedical technology and are driving the next generation of treatments for patients 1. Rituxan® Rituximab X Outnumbering-Small-Molecule-Drugs.html Multiple $Billion Products Herceptin® trastuzumab SOLIRISⓇ (eculizumab) Source: https://www.bccresearch.com/market-research/biotechnology/biologic-therapeutic-drugs-technologies-markets-report.html: Based on revenues generated by each product as disclosed in the annual reports for such companies that produce each of these products. 2. Source: https://www.globenewswire.com/news-release/2019/01/11/1690388/0/en/Global-Biologics-Outsourcing-Market-2018-2027-In-2017-7-out-of-10-Blockbuster-Drugs-were-Biologics- (.<) Comera LIFE SCIENCES RemicadeⓇ INFLIXIMAB AVASTIN® bevacizumab KEYTRUDA (pembrolizumab) 10#11Most Biologics Administered Intravenously, with Significant Limitations ● ● ● ● ● ● Patients Pain and discomfort associated with IV access Time-consuming (1-4 hours) Risk of infection Reduced compliance Inconvenience - travel, time Cannot be self-administered Healthcare System Requires space and time in office Requires storage ± refrigeration, supplies Requires nursing time Increased costs 9 10 11 12 5 2 4 3 ň Comera LIFE SCIENCES 11#12Subcutaneous Administration has Multiple Potential Benefits ● ● ● ● ● ● Patients Less pain and discomfort (smaller needle than IV) Less time-consuming Less risk of infection At-home self-administration Higher patient satisfaction. Improved compliance Improved quality of life Healthcare System No need for IV access resources and nursing time Reduced costs - supplies, storage, staffing 1 MIN Comera LIFE SCIENCES 12#13SQ Dosing Strongly Preferred Over IV by Physicians Comera conducted market study with over 50 physicians to assess unmet need Over 70% expressed interest in a SQ version of an IV biologic if available A clear majority agreed that patient inconvenience was a significant issue with IV "Traveling and infusion time can sometimes take up half a day for some of my patients. If there were an option to take [the treatment] at home, many of them would be very interested." - Gastroenterologist in Midwest U.S. Inconvenience to the patient Top issues creating lack of physician satisfaction with IV biologic dosage forms Patient reluctance Compliance to therapy Injection site pain I don't have enough staff to administer treatment I don't have enough staff to schedule administration Source: Ipsos market study and Comera physician interviews, December 2021; base: Total HCPs; n=50+ 5 IDIs with high-prescribing physicians. 11 30% 16% 52% 45% (.<) 75% Comera LIFE SCIENCES 68% 13#14Increased Viscosity Significant Hurdle to Formulating Most Biologics for SQ Administration Low Viscosity B High Viscosity (•)<) Comera LIFE SCIENCES Increased protein concentration needed for smaller dosing volumes leads to increased viscosity This increased viscosity prevents SQ administration 14#15Excipients Typically Used to Reduce Viscosity, but Lack of Innovation has Plagued Industry Despite decades of research, a lack of effective excipients remains Suboptimal excipients can: Fail to reduce viscosity sufficiently Destabilize the biologic protein Increase injection pain Cause other side effects (.<) Lack of innovation highlighted by FDA Novel Excipient Review Pilot Program First proposals accepted December 2021 FDA U.S. FOOD & DRUG ADMINISTRATION Comera Novel Excipient Review Pilot Program The Center for Drug Evaluation and Research (CDER) has launched the voluntary Novel Excipient Review Pilot Program (Pilot Program), which is intended to allow excipient manufacturers to obtain FDA review of certain novel excipients prior to their use in drug formulations. This Pilot Program will foster development of excipients that may be useful in scenarios in which excipient manufacturers and drug developers have cited difficulty in using existing excipients. Excipients are substances added to a therapeutic agent in a drug formulation to aid in manufacturing, delivery, stability and/or patient acceptability LIFE SCIENCES 15#16Proprietary Excipient Technology Platform 10 IV 11 12 >200 EXCIPIENT COMPOUNDS SQore™ + PROPRIETARY EXCIPIENT ENGINEERING (•)<) MIN Comera LIFE SCIENCES SQ 16#17SQore™: Validated by Scientific Peer-Review Value of concept and strength of science confirmed by recent publication in industry-leading Journal of Pharmaceutical Sciences ● ● ● Use of caffeine-based excipient to reduce viscosity demonstrated for two mAbs, ipilimumab (Yervoy) and infliximab (Remicade) Ipilimumab: caffeine reduced viscosity from 45-78% in three buffers Infliximab: caffeine reduced viscosity by 77% vs. control Caffeine-containing formulations met target stability requirements for a viable drug product No loss of biologic activity for either molecule in the presence of caffeine, confirmed by rigorous analytical demonstration ELSEVIER ARTICLE Pharmaceutics, Drug Delivery and Pharmaceutical Technology Caffeine as a Viscosity Reducer for Highly Concentrated Monoclonal Antibody Solutions INFO Contents lists available at ScienceDirect Yuhong Zeng, Timothy Tran, Philip Wuthrich, Subhashchandra Naik, Juan Davagnino, Daniel G. Greene,¹, Robert P. Mahoney, David S. Soane ReForm Biologics Inc., 12 Gill Street Suite 4650, Woburn, MA 01801, United States DKBI Biopharma Inc., 1101 Hamlin Rd, Durham, NC 27704, United States Article history: Received 5 March 2021 Revised 21 June 2021 Accepted 22 June 2021 Available online 26 June 2021 Keywords: Viscosity Monoclonal antibody(s) High concentration Excipient(s) Formulation Interactions. Stability Journal of Pharmaceutical Sciences journal homepage: www.jpharmsci.org (•)<) ABSTRACT Conclusion: Caffeine-based excipient proven in externally validated, rigorous scientific evaluation to achieve all desired target parameters for a viable SQ formulation Comera Source: "Caffeine as a viscosity reducer for highly concentrated monoclonal antibody solutions", Journal of Pharmaceutical Sciences, 110 (2021) 3594-3604, https://doi.org/10.1016/j.xphs.2021.06.030 LIFE SCIENCES APRA Many monoclonal antibody (mAb) solutions exhibit high viscosity at elevated concentrations, which pre- vents manufacturing and injecting of concentrated mAb drug products at the small volumes needed for sub- cutaneous (SC) administration. Addition of excipients that interrupt intermolecular interactions is a common approach to reduce viscosity of high concentration mAb formulations. However, in some cases widely used excipients can fail to lower viscosity. Here, using infliximab and ipilimumab as model proteins, we show that caffeine effectively lowers the viscosity of both mAb formulations, whereas other common viscosity-reduc- ing excipients, sodium chloride and arginine, do not. Furthermore, stability studies under accelerated condi- tions show that caffeine has no impact on stability of lyophilized infliximab or liquid ipilimumab formulations. In addition, presence of caffeine in the formulations does not affect in vitro bioactivities of infliximab or ipilimumab. Results from this study suggest that caffeine could be a useful viscosity reducing agent that complements other traditional excipients and provides viscosity reduction to a wider range of Ⓒ2021 American Pharmacists Association. Published by Elsevier Inc. All rights reserved. mAb drug products. Check for updates 17#18Caffeine-based Excipient is Optimized Viscosity-Lowering Comera Beneficial SQore Excipient for Several Biologics Viscosity (CP) 70 60 50 40 30 20 10 0 0 -Control -Caffeine -ArgHCI --NaCl Target viscosity range 25 TM 75 100 125 150 50 infliximab (mg/mL) Infliximab formulated in a 20 mM phosphate-acetate buffer at pH 6.0 (control) and in the presence of 75 mM caffeine, 100 mM ArgHCI, or 100 mM NaCl Viscosity (CP) 70 60 50 40 30 20 10 0 100 Comm. Control -Comm.-Caffeine -PBS Control PBS-Caffeine 125 ň Target viscosity range 150 175 200 225 ipilimumab (mg/mL) Source: "Caffeine as a viscosity reducer for highly concentrated monoclonal antibody solutions" Journal of Pharmaceutical Sciences 110 (2021) 3594-3604 https://doi.org/10.1016/j.xphs.2021.06.030 LIFE SCIENCES Ipilimumab formulated in Yervoy commercial formulation. vehicle (Comm.) and PBS with or without 75 mM caffeine 18#19SQore in vivo Data Supports Safety of Caffeine ● ·•) Pre-clinical proof of concept studies further validate use of SQore in SQ drug development Animal studies conducted by the Company to assess SQore formulation viability to deliver mAbs. subcutaneously Study #2 Goals (started 12/2021, completion 2/2022) Study #1: no toxicity from caffeine formulation on the test animals (Sprague Dawley® rats), upon SQ and IV administration Study #2: initiated December 2021, final results expected February 2022; no evidence of local or systemic toxicity reported to-date after test formulation administered to study animals ● Comera Comparison of IV and SQ-administered formulations Determine PK profile and bioavailability of mAb formulations upon different routes of administration Testing a control formulation vs. a caffeine containing mAb formulation Observe the animals (SD rats) for any signs of health effects LIFE SCIENCES Based on data collected-to-date, administered subcutaneously, caffeine-containing mAb formulations have not demonstrated evidence of local or systemic toxicity 19#20Dual Pillars of Growth: Partnerships and Proprietary Pipeline Development SQore TM PARTNERSHIPS Partnering with companies to develop their IV biologic drugs in to SQ formulations INTERNAL PIPELINE Develop portfolio of SQ biologics representing some of the most widely-used IV biologic therapies (•)<) Comera LIFE SCIENCES 20#21SQore Platform Leading to Revenue-Generating, High-Value Partnerships, with Additional Expected this Year Selective focus on high-value collaborations with near-term milestone value ● ● Partnering Strategy ● Late-stage clinical programs and/or commercialized assets Programs with significant commercial potential High patient quality-of-life impact with availability of self-injectable formulation Emphasis on long-term value creation (royalties, milestone payments) if collaboration successful Selective focus on pharma partners having significant strategic value to Comera Broad mAb asset portfolio amenable to SQ formulation with SQore™ Potential interest in licensing and acquiring Comera's internal assets at downstream stages of development Partnership #1 ● ● Partnership #2 ● ● ● Current Partnerships )< Comera LIFE SCIENCES Leading US biotechnology company Three high-priority assets in development Option to license after further technical evaluation complete Top 10 global pharma company Drug commercialized globally, currently the largest biologic drug by revenue to Company (top two overall) Option to license after further technical evaluation complete 21#22Proprietary Pipeline Strategy Optimal Product Profile Comera Advantage Development Goal SQ formulations of widely used IV biologics Opportunity size validated by existing market Reduced efficacy and safety development risk with known molecular entity ● ● Products with high patient quality of life impact Chronically-administered therapies Patients affected by disruption to work and school due to IV infusion visits ● ● Select assets where SQore value can be leveraged High concentration protein solutions requiring viscosity reduction Stability challenges with viscosity reduction, addressable with SQore Achieve risk reduction and value creation in early milestones Consider asset out-licensing at key value inflection milestones (IND, Phase 1) Preserve option to continue full development to launch ● Comera LIFE SCIENCES 22#23CLS-001: Addressing Unmet Need in Large Market First program focuses on formulating a SQ version of a widely-marketed, successful IV biologic therapy targeting Inflammatory Bowel Disease (IBD) Program Therapeutic Area Development Status Key Milestone Competition Peak Sales Potential SQ formulation of marketed IV mAb IBD Ulcerative colitis and Crohn's disease month period following approval. Formulation development IND filing: Q1 2024 No SQ in US $250M-$500M base case Global Revenue ($B) 30 25 19.2 20 15 10 5 20.1 0 21.0 Global IB Market* Revenue in billions (USD) 21.9 22.9 Year Source: https://www.grandview research.com/industry-analysis/inflammatory-bowel-disease-ibd-treatment-market; https://www.marketwatch.com/press-release/inflammatory-bowel-disease-ibd-treatment- (•)<) market-analysis-share-trends-size-forecast-from-2020---2030-2021-11-01?tesla-y; https://www.yahoo.com/now/global-inflammatory-bowel-disease-treatment-103800897.html; https://qualiketresearch.com/reports-details/Inflammatory-Bowel-Disease-Treatment-Market; Al-Horani et., al., Nat Rev Drug Disc (21):2022; Peak sales potential reflects maximum estimated sales in a 12- Comera 23.9 25.0 LIFE SCIENCES 2020 2021 2022 2023 2024 2025 2026 2027 2028 26.1 27.3 23#24CLS-002: Targeting Large Addressable Market with a First-in-Class SQ Formulation Second program targets a highly growing space within immuno-oncology Program Therapeutic Area Development Status Key Milestone Competition Peak Sales Potential SQ formulation of marketed 1-0 mAb Oncology Formulation development insights/delivering-innovation-2020-oncology-market-outlook; IND filing: Q3 2024 No SQ available $500M-$800M base case Global Revenue ($B) 200 160 120 80 40 0 62.2 71.5 lobal 1-O Market* Revenue in billions (USD) 82.3 Source: https://www.biospace.com/article/immuno-oncology-therapy-market-a-paradigm-shift-from-traditional-chemotherapies-to-immunotherapies-is-propelling-the-overall-market-growth/; 94.6 108.8 ň Year https://www.businesswire.com/news/home/20210929005402/en/Immuno-Oncology-Drugs-Global-Market-Report-2021---Research And Markets.com; https://www.mckinsey.com/industries/life-sciences/our- https://www.marketwatch.com/press-release/immuno-oncology-market-size-share-key-players-growth-analysis-and-forecast-2028-2021-12-06; https://www.futurewise research.com/healthcare-market-research/Immuno-Oncology-Market/10981; Peak sales potential reflects maximum estimated sales in a 12-month period following approval. Comera 125.1 143.9 LIFE SCIENCES 2020 2021 2022 2023 2024 2025 2026 2027 2028 165.5 190.3 24#25CLS-003 (to be announced late Q1 2022) CLS-003 and Other Emerging Pipeline Programs We intend to announce CLS-003 in late Q1 2022 after finalization of our internal assessment; other pipeline assets in earlier stages of diligence and will be named by the end of 2022 + Other Emerging Pipeline Programs Candidate 1 Candidate 2 Candidate 3 Candidate 4 Candidate 5 Candidate 6 Therapeutic Area Oncology Oncology Inflammation Oncology Oncology Oncology, Inflammation Source: L.E.K. market research and analysis; ; Peak sales potential reflects maximum estimated sales in a 12-month period following approval. Peak Market Size ~$15B -$10B -$1B -$3B -$2B )< -$4B Comera Peak Asset Sales Potential LIFE SCIENCES $500M - $1B - $350M $850M - $300M $650M $350M $600M $350M $650M $200M $500M 25#26SQore Platform Commands Strong IP Portfolio TM 6 U.S. Patents Viscosity Reducer Family 9,867,881 9,605,051 10,478,498 Stabilizer Family 10,016,513 10,279,048 10,610,600 PATENTED PATENTED 5 International Patents Viscosity Reducer Family 2,951,716 6674901 6983266 ZL2015800398 Canada Japan Japan China >35 Patents Pending U.S. & International Comera PATENT PENDING PATENT PENDING PATENT LIFE SCIENCES ENDING 26#27SQore™ Well-Positioned vs. Other Approaches Large market opportunity accommodates multiple players Viscosity Reducing Technology Enzyme Based Technology Oral Delivery Comera LIFE SCIENCES Excelse Bio Lindy Biosciences Arecor ARSIA THERAPEUTICS EAGLE PHARMACEUTICALS Halozyme ALTEOGEN Inc. Rani THERAPEUTICS Comera LIFE SCIENCES Score: scientifically validated, well-characterized excipient technology, all previously used in humans, allowing for low-volume, easy-to-administer subcutaneous formulations across multiple different m Abs EXCELSETM: amino acid blends to reduce protein clumping Microglassification ™M: protein microbead process Arestat TM: oligomers of ethyleneimine Camphor sulfonic acid derivatives ENHANZEⓇ: hyaluronidase used to enhance SQ tissue absorption TM Hybrozyme ™M: hyaluronidase variant RaniPill TM: oral capsule drug delivery system 27#28Summary Transaction Overview Overview ¹ Ownership¹ Earn-Out Transaction Rationale Use of Proceeds ● ● All existing Comera investors are rolling 100% of their equity into the pro forma company Implied initial equity value of approximately $258.4 million translating into an enterprise value of approximately $151.3 million Comera LIFE SCIENCES 3.15 million shares issuable to Comera's existing stockholders if the pro forma stock price is at or above $12.50 for 20 out of 30 consecutive trading days within 2 years post-closing To execute on and complete new pharmaceutical partnerships and advance internal pipeline Working capital and general corporate purposes Provides Comera with access to public markets, which will help facilitate the development of new or improved subcutaneous formulations of essential biologic medicines through additional growth capital and partnerships Attractive entry point / valuation for investors within biologics market with significant upside potential 1. Pro forma diluted basis at $10.00 per share, assumes no redemptions and excludes impact of unvested stock-based compensation and unvested shares pursuant to the new, to-be-established equity incentive plan, earn-out shares and warrants 28#29Detailed Transaction Overview Pro Forma Valuation ¹, 2 ($M, except per share data) Pro Forma Shares Outstanding² (x) Illustrative Share Price Pro Forma Equity Value² (-) Pro Forma Net Cash³ Pro Forma Enterprise Value² Pro Forma Share Ownership ¹,2,4 41.1% 10.1% 48.8% 25.8 $10.00 $258.4 $107.1 $151.3 Existing Comera Stockholders OTR Public Stockholders OTR Founder Shares Illustrative Sources & Uses Sources ($M) OTR Cash in Trust¹ Comera Equity Rollover Existing Comera Cash OTR Founder Shares Total Sources Uses ($M) Comera Equity Rollover Cash to Balance Sheet¹ OTR Founder Shares Transaction Cash Fees, Expenses & Deferred UW Fees Total Uses 1. Assumes no redemptions by OTR public stockholders 2. Pro forma diluted basis at $10.00 per share, assumes no redemptions and excludes impact of unvested stock-based compensation and unvested shares pursuant to the new, to-be-established equity incentive plan, earn-out shares and warrants Comera 3. Includes existing cash of ~$6.5M from Comera a/o December 31, 2021 plus an additional ~$1.0M from Comera employee options exercised 4. Includes shares issued to Maxim Group LLC pursuant to a sell-side advisory fee LIFE SCIENCES $107.1 $126.0 $7.5 $26.1 $266.7 $126.0 $107.1 $26.1 $7.5 $266.7 29#30Compelling Valuation and Attractive Entry Point Proprietary platform enables potential for significant share. price appreciation. Indicative valuation range can be determined by comparing Comera to related biologics. companies in the market at different stages of development As Comera continues to execute on its business plan, it should have ability to trade similarly to more developed biologics & novel formulation. companies that tend to trade at higher valuations. n Comera LIFE SCIENCES CURRENT ENTERPRISE VALUES OF COMPARABLE PUBLICLY TRADED BIOLOGICS COMPANIES (USD $M) High unmet needs Diversified pipeline Multiple sources of revenue Revenue-generating model Extensive IP protection Strategic collaborations & partnerships Assets under development Near term milestones $151.3¹ I I I I Early-Stage Biosimilar Arecor $110.0 OUTLOOK THERAPEUTICS $306.9 Source: Comera Management, CapitallQ, Company Filings; Market data as of 1/28/22 1. Pro form a diluted enterprise value at $10.00 per share, assumes no redemptions and excludes impact of unvested stock-based compensation and unvested shares pursuant to the new, to-be-established equity incentive plan, earn-out shares and warrants Early-Stage Biobetter EAGLE PHARMACEUTICALS $518.2 Rani THERAPEUTICS :)< $911.5 Comera alvotech LIFE SCIENCES Late-Stage/ Biologics Formulation $2,250.0 Halozyme $4,647.2 30#31Accelerated Growth as a Public Company Market opportunity sufficiently large to accommodate multiple players 1 2 3 4 51 6 Proprietary Platform Established & Future Partnerships Innovative Pipeline Experienced Management Team Diversified Business Model Clear Market Opportunity 个个个 Studied technology with significant IP protection Revenue-generating programs De-risked product development (•)<) Over 100+ years combined operating experience Addressing high unmet needs. Comera LIFE SCIENCES Multiple sources of revenue potential supported by core technology 31#32Investment Highlights Proprietary Excipient Technology Platform Proprietary Product Pipeline Significant Opportunity Expertise and Intellectual Property Comera LIFE SCIENCES Multiple Pharmaceutical Partnerships Compelling Valuation and Attractive Entry Point 32#33Thank you! Investor Contact John Woolford ICR Westwicke [email protected] Comera Press Contact Sean Leous ICR Westwicke [email protected] 12 Gill Street, Suite 4650 Woburn, MA 01801, USA comeralifesciences.com OTR Contact Melanie Gounardes Prosek Partners [email protected] 38