#1marino med Creating innovative therapies for respiratory, allergy and eye diseases Investor Presentation H1/2020 Andreas Grassauer, CEO, Pascal Schmidt CFO Vienna, 27th August 2020#2Disclaimer marino med This presentation (the "Presentation") was prepared by Marinomed Biotech AG. The information contained in this Presentation has not been independently verified and no representation or warranty expressed or implied is made as to, and no reliance should be placed on, the fairness, accuracy, completeness or correctness of this information or opinions contained herein. Neither Marinomed Biotech AG nor any officer or employee of Marinomed Biotech AG or any person connected with them accepts any liability whatsoever for any direct, indirect or consequential damages or losses arising from any use of this Presentation or its contents or otherwise arising in connection therewith. 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By accessing this Presentation, you represent, warrant and undertake that you have read and agree to comply with and to be bound by the contents of this disclaimer. 2#3Highlights and News Marinomed on the COVID-19 frontline ■ Pre-clinical data show that CarrageloseⓇ has the potential to reduce the risk of an infection with SARS-CoV-2 and may also treat COVID-19 Study in Argentina shows excellent clinical data with CarrageloseⓇ in combination with ivermectin marino med ■ CarrageloseⓇ growth driver for our business - ■ Marinosolv® - platform progress update - first deal for Budesolv expected in H2/20 Record revenues, solid financials and strong outlook for 2020 and beyond 3#4CarrageloseⓇ - broad band virus blocker CarrageloseⓇ blocks viral attachment to cells via an unspecific physical mechanism marino med COLDA MARIS plus €20 Carragelose Colds are caused by more than 200 different respiratory viruses Cold viruses bind to the surfaces of the upper respiratory tract, initiating the infection Preservative-free. Can be used from the age of 1 year as well as during pregnancy and lactation CarrageloseⓇ creates a protective layer that reduces the spreading and proliferation of the common cold virus Trapped viruses leave the body via the natural route → The cold is either prevented or is significantly shorter in duration Respiratory viruses Mucosa cells CarrageloseⓇ creates a protective physical barrier on the nasal and oral mucosa thus preventing binding and/or entry of the respiratory viruses into the cells Source: Company data; Leibbrandt et al., 2010; Hebar et al., 2015; B&C Privatstiftung Houska prize 2016 4#5I. Carragelose® neutralizes SARS-CoV-2 New Data published on July 16th, 2020 Determination of IC50 Neutralization of SARS-COV-2 pseudotyped virus % infection control 100 90 80 70- 60- 50 40- 30- 20 10 0 luciferase units 35 30 25 20 15 110 10 сл I..I 1 0 1 10 100 neg. μg/ml iota carrageenan control pos. lota- control carrageenan serum pos. control serum The neutralizing effect of Carragelose is comparable to serum from a patient who recently recovered from COVID-19. Source: https://doi.org/10.1101/2020.07.28.224733 marino med 5#6II. Carragelose® significantly inhibit SARS-CoV-2 replication in tissue culture New Data published on August 21st from independent group in Argentina/USA SARS-CoV-2 virus replication inhibition (Log10 TD50) 7.00 marino med 6.00 5.00 4.00 3.00 2.00 1.00 0.00 Untreated 600 ug/ml 60 ug/ml 6 ug/ml 0.6 ug/ml Placebo (P2) SARS-COV-2 viral titer after treatment with iota carrageenan and P2 (3 replicates per treatment) Composition 1.2 mg/mL iota-carrageenan, 5 mg/mL sodium chloride, pH 6-7. Vero E6 were pre-treated with dilutions of Iota-Carrageenan with sample P2 (placebo without iota-carrageenan) to get 600 μg/mL, 60 μg/mL, 6 μg/mL, and 0.6 μg/mL final iota- carrageenan concentration for 2 h. After a 2 h pre- treatment, cells were infected with SARS-CoV-2 and incubated for 48h in the presence of the same dilutions of iota-carrageenan. Supernatants were harvested and virus yield determined by an end point dilution assay (TCID50). Controls consisted of untreated infected cells or infected cells treated with P2 (no iota-carrageenan). Results were determined using the Reed and Muench formula and expressed as log TCID 50/mL. Dotted line shows the limit of detection (LOD). Testing of samples was performed in triplicate. CarrageloseⓇ reduces SARS-CoV-2 virus replication by more than 99,99% or 4,75logs even when the product is diluted by a factor of 1:200 Source: https://www.biorxiv.org/content/10.1101/2020.08.19.225854v1 6#7Study of the efficacy and safety of topical Ivermectine and Iota-carrageenan Positive data on the prophylaxis of COVID-19 for health care personnel Group Study participants Iota-carrageenan + 131 Ivermectin Standard of care 98 Incidence of SARS-COV-2 (PCR) 0 11 p < 0.0001 marino med Intervention Iota + Ivermectin group topical medication, iota- carrageenan and Ivermectin, 5 times a day. PPEs used as suggested by OMS. Control group PPES used as suggested by OMS Clinical trial registration and identifier number NCT04425850 ...valuable tool, to optimize the protection of the people most exposed to contracting the disease, such as health care personnel Source: Carvallo, Héctor E.; Contreras, Veronica, Htal. Interzonal A. A. Eurnekian, Buenos Aires, Argentina 7#8SARS-COV-2 clinical trial started in Argentina Investigator initiated trial at: Centro de educación médica e investigaciones clinicas (CEMIC) Instituto Milstein-CONICET Buenos Aires, Capital Federal, Argentina Efficacy of a Nasal Spray Containing Iota-Carrageenan in the Prophylaxis of COVID-19 Disease in Health Personnel Dedicated to Patients Care With COVID-19 Disease (CARR-COV-02) Study Design Study Type Estimate Enrollment Allocation Intervention Model Intervention Model Description Masking Primary Purpose Official Title Actual Study Start Date Estimated Primary Completion Date Estimated Study Completion Date Interventional (Clinical Trial) 400 participants Randomized Parallel Assignment Multicenter, randomized, double blind compared vs. placebo Double (Participant, Investigator) Prevention Efficacy of a Nasal Spray Containing Iota-Carrageenan in the Prophylaxis of COVID-19 (CARR-COV-02) July 24, 2020 October 30, 2020 November 30, 2020 marino med Source: https://www.clinicaltrials.gov/ct2/show/NCT04521322. 80#9Carragelose®: safe and available innovation Carragelose® - a new frontrunner in SARS-CoV-2 countermeasures ☐ CarrageloseⓇ products - marino med nasal spray, throat spray and lozenges bear a huge potential in the fight against the Coronavirus Today, Carragelose® products are marketed in more than 40 countries through distribution partners of Marinomed ■ Marinomed continues to expand regional coverage through ☐ ongoing discussions with existing and new potential partners ■ Marinomed will further develop the inhalation therapy for pulmonary viral infections first trial planned for Q4/20 - Carragelose® is a strong value driver 6#10Marinomed updated pipeline MarinosolvⓇ Allergy, Ophthalmology, Gastrointestinal CarrageloseⓇ Cough & Cold, Flu-Like Illnesses, Respiratory PRECLINICAL PHASE I/II PHASE III LAUNCHED 4 Virus-Blocking Nasal Sprays (2 Adult / 1 Children Formulation and 1 Decongestant Spray) 2 Virus-blocking oral products 1 Virus-Blocking Decongestant Nasal Spray¹ Virus-Blocking Inhalation Product Budesolv² Preparing Application Flutisolv² Tacrosolv³ Preparing Phase III Clinical Study Preparing Phase II Clinical Study MAM 18.101 respiratory MAM 19.101 respiratory MAM 20.101 MAM 20.102 gastrointestinal respiratory Carragelose® Xylometazoline combination; 2 Dissolved Corticosteroid; 3 Dissolved Tacrolimus PIPELINE marino med 10 10#11Marinosolv explained based on Budesolv MarinosolvⓇ allows to provide Budesonide in solution offering a competitive edge marino med Suspension Rhinocort Aqua Budesonide nasal spray 64μg per dose/spray Rhinocort Aqua Rhinocort Aqua 64 Marinosolv Proven solubility Increasing market Patent protected Properties Solubility increase versus water shown for variety of compounds Higher specificity of compounds leads to lower solubility → increasing number of APIs that could benefit from Marinosolv Patent in nationalisation phase USPS Solution MarinosolvⓇ enabled Budesonide nasal spray 10μg per dose/spray Increased bioavailability Faster onset of action Higher local, lower systemic availability Dose reduction Lower possible side effects Lower production costs Aseptic filtering Preservative free formulation Lower production costs a technology platform with the potential to facilitate delivery of any compound with Marinosolv solubility issues 11#12Upcoming milestones and value inflection points... Preliminary Timetable marino med 2019 H2 Completion of pivotal Phase-III trial for Budesolv ✓ MarinosolvⓇ Establishment of large-scale production for Budesolv ✓ Marinosoly H1 Grant for €4m project from FFG for fighting COVID-19 ✓ Carragelose Ⓡ 2020 Relocation of 1st part of the company to new offices in Korneuburg ✓ Corporate H2 SARS-COV-2 data CarrageloseⓇ Filing for marketing authorization for Carravin in Europe First Budesolv partnering deal H1 Start of Tacrosolv clinical trial in allergic conjunctivitis 2021 " Complete relocation to new offices in Korneuburg H2 MarinosolvⓇ Marinosolv Corporate CarrageloseⓇ Marinosolv® 2022 later First launch of Carravin in Europe Tacrosolv phase II trial results First Launch of Budesolv Phase-III study (allergic conjunctivitis) and phase-III study (dry eye) for Tacrosolv Partnerships and licence deals for Marinosolv for new compounds Addional product launches based on Carragelose® (inhalation product and others) Trials in new indications for Marinosolv e.g. autoimmune gastritis and others 12#13Double digit growth Growth path of CarrageloseⓇ maintained in 2020 Y-o-Y comparison of Revenues (in m€) +35% +40% +38% 2.3 1.7 1.3 1.0 0.8 0.9 Q1 Q1 Q2 Q2 2019 2020 2019 2020 H1 2019 2020 H1 Margin H1 2020 H1 2019 Sale of goods 2.0 1.5 Cost of goods sold (1.5) (1.0) Gross result Gross margin 0.5 0.4 26.4% 28.7% Excludes extra ordinary effect from a licensing contract marino med Comments Double digit growth in revenue was achieved from the sale of products in the CarrageloseⓇ segment ■ First revenues from services provided through application of the MarinosolvⓇ platform were generated ■ Return of certain regions results in extra ordinary revenue and gives opportunity to address underserved markets COVID-19 pandemic leads to strong order book - challenging the supply chain ■ Various measures in progress to increase capacities with suppliers and improve speed of the supply chain 13#14Significant investments into R&D Planned continued losses through high R&D investments are sufficiently funded R&D Expenses marino med 1.4 1.3 1.0 0.9 Q1 19 Q1 20 Q2 19 Q2 20 Cash position 2.0 6.0 1.7 12.0 7.8 Comments Significant investments in R&D as planned, primarily relating to R&D personnel expenses and external services for clinical trials COVID-19 pandemic resulting in short-term delays Allergy challenge trials are currently not possible Planned start for the Tacrosolv phase II study in autumn Significant cash position available to advance pipeline products until commercialisation CarrageloseⓇ segment margin contributing to financing Financial flexibility available through undrawn tranches from EIB loan (€11 million) and expected refinancing of real estate Expected to be funded until break-even 2016 2017 2018 2019 Q2 20 14#15Supply chain improvements Strong focus on eliminating bottlenecks in supply Comments ■ Two main drivers for supply chain improvements: 1. Close collaboration with manufacturing organizations Inventory 12/2019 marino med . Improvement of long-term planning to reserve capacity 0.1 0.0 0.1 • Become preferred partner to receive production slots that become available Goods Raw Total • Get multiple suppliers approved where possible for mat./ sale supplies 2. Eliminate key bottlenecks in production Build up stock of primary packaging with long lead times 06/2020 • Source primary packaging on own account (see inventory development) and with a long-term view 0.22 0.56 0.34 Increase flexibility through management of stocks between primary packaging supplier and manufacturing organizations Goods for Raw Total sale mat./ supplies 15#16Positive Outlook 2020 Investments in MarinosolvⓇ and commercialisation of CarrageloseⓇ Further strong demand for Carragelose® products expected ■ Lab data and clinical data for Sars-CoV-2 are growth drivers ■ Full focus on conversion of data into marketing & sales Expansion of capacities continues. ◉ Ongoing discussions with renowned new partners marino med Marinosolv® products drive value further First deal for Budesolv expected in H2/2020 ■ New applications for nose, lung, eyes and gastrointestinal have huge potential for further growth Record revenues, solid financials and strong outlook for 2020 and beyond 16#17Stay Healthy! ...and further reduce the risk by following these rules marino med Wash your hands regularly + 8-8 + Keep distance Wear a mask + 10 Use CarrageloseⓇ nasal spray 17#18marino med Appendix#19Statement of profit or loss marino med €m H1 2020 H1 2019 Revenue €m H1 2020 H1 2019 Revenues 1 Sale of goods 2.0 1.5 2.3 1.7 License revenues 0.1 0.0 Other income 0.5 0.3 Other revenues 0.1 0.2 Other net gains/losses (0.0) 0.0 Total revenue 2.3 1.7 Materials expenses (1.6) (1.1) Services expenses 2 (1.0) (1.6) 2 R&D expenses €m H1 2020 H1 2019 Personnel expenses (2.0) (2.0) Personnel expenses (0.9) (0.6) Depreciation and amortisation (0.2) (0.2) Services expenses (3 (0.7) (1.3) Other expenses (0.9) (1.1) Materials expenses (0.1) (0.1) Other expenses* (0.5) (0.4) Operating result (EBIT) (2.9) (4.1) Total R&D expenses (2.2) (2.4) Financial result 4 (0.3) (0.8) 3 Profit/loss before taxes (3.2) (4.9) Decrease due to forced delays of clinical studies due to COVID-19 crisis Taxes on income (0.0) (0.0) 4 Profit/loss for the period (3.2) (4.9) Therein valuation of equity conversion right of the convertible bond in the amount of €0.3m (2019) and interest on shareholder loans as well as on convertible bond of €0.4m (2019) Note: *includes depreciation & amortization as well as financial expenses 19#20Statement of financial position Assets €m Assets H12020 2019 marino med Therein fully renovated office building and land in Korneuburg €2.6m (2019: €0.4m) as well as assets under construction €1.1m (2019: €1.8m) related to the laboratory building Includes bottles and pumps, which are directly sourced by Marinomed in order to decrease lead time and gain more flexibility in responding to fluctuating customer demands Therein Austrian Research Promotion in the amount of €0.9m (2019: €1.0m) Includes first disbursement (€4.0m), but not yet taking into account the full venture loan commitment from EIB (up to an additional €11.0m) Intangible assets 1.7 1.6 Property, plant and equipment 1 4.1 2.5 (2 Deposits and other non-current 0.0 0.0 receivables Total non-current assets 5.8 4.2 Inventories 2 0.6 0.1 (3 Trade and other receivables 3 3.7 3.2 Current tax receivables 0.0 0.0 4 Cash and cash equivalents 4 7.8 12.0 Total current assets 12.0 15.3 Total assets 17.9 19.5 20 20#21Statement of financial position Equity and liabilities €m Equity and liabilities H12020 2019 Share capital 1.5 1.5 Capital reserves 1 (2 41.2 40.8 Accumulated deficit (34.7) (31.5) Total capital and reserves 7.9 10.9 Borrowings 2 (3 4.7 4.5 Other non-current liabilities 0.1 0.1 4 Total non-current liabilities 4.8 4.6 Borrowings 2 0.1 0.1 Trade payables 1.7 1.0 Current contract liabilities and 3 2.1 1.6 other current liabilities Provisions 4 1.3 1.3 Total current liabilities 5.1 4.0 Total equity and liabilities 17.9 19.5 marino med Therein IPO related paid-in capital of €20.3m (net of transaction costs) and conversion of the convertible bond in the amount of €13.1m Primarily related to first tranche of EIB loan (€4.3m) and AWS Seed loan, where the nominal has been repaid and the accumulated interest remains at €0.4m Primarily related to clinical studies and employee related provisions Primarily related to a credit note to be granted to an international pharmaceutical company in case of the return of the exclusivity as well as provisions in relation to the relocation 21#22Statement of cash flows (IFRS) Change in cash position primarily related to loss for the period marino med 12.0 -3.2 0.3 0.3 0.0 -0.3 0.0 7.8 -1.3 Kategorie 2 Kat Netie 4 Kategorie 6 Kategorie 8 K&Cash at 1 Kat Netie 3 change in Kat Netie 5 D&A beginning Loss for of period the period financial result working capital interest and paid other Kategorie 7 Investing cash flow Financing cash flow Cash at end of period 22#23marino med www.marinomed.com