#1MATINAS BIOPHARMA Corporate Presentation January 2024 www.matinasbiopharma.com NYSE American: MTNB#22 Forward Looking Statements This presentation contains "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995, including those relating to the Company's product development, clinical and regulatory timelines, market opportunity, cash flow and other statements that are predictive in nature, that depend upon or refer to future events or conditions. All statements other than statements of historical fact are statements that could be forward-looking statements. Forward-looking statements include words such as "expects," "anticipates," "intends," "plans,“ “could," "believes," "estimates" and similar expressions. These statements involve known and unknown risks, uncertainties and other factors which may cause actual results to be materially different from any future results expressed or implied by the forward-looking statements. Forward-looking statements are subject to a number of risks and uncertainties, including, but not limited to, our ability to obtain additional capital to meet our liquidity needs on acceptable terms, or at all, including the additional capital which will be necessary to complete the clinical trials of our product candidates; our ability to successfully complete research and further development and commercialization of our product candidates; the uncertainties inherent in clinical testing; the timing, cost and uncertainty of obtaining regulatory approvals; our ability to protect the Company's intellectual property; the loss of any executive office or key personnel or consultants; competition; changes in the regulatory landscape or the imposition of regulations that affect the Company's products; and the other factors listed under "Risk Factors" in our filings with the SEC, including Forms 10-K, 10-Q and 8-K. Investors are cautioned not to place undue reliance on such forward-looking statements. Except as may be required by law, the Company does not undertake any obligation to release publicly any revisions to such forward-looking statements to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events. Matinas BioPharma's product candidates are all in a development stage and are not available for sale or use. MATINAS BIOPHARMA#33 Matinas Investment Thesis: LNC Delivery Unlocks Therapeutic Value Lipid Nanocrystals (LNCs) ● MAT2203 • Oral Amphotericin B - without nephrotoxicity Phase 3-ready (Invasive Aspergillosis in 198 patients with limited or no treatment options) • Provides effective longer-term fungicidal stepdown therapy for Invasive Fungal Infections ● • 12 years of exclusivity* *QIDP and Orphan designations Intracellular delivery Oral administration Less toxicity Targeting beyond the liver Clinical Validation of LNC Capabilities Pipeline Products and Opportunities • Current efforts expanding LNC application beyond small molecules to include delivery of smaller oligonucleotides (ASOs, siRNA, RNAI) • Expanding primary therapeutic applications from infectious disease (antifungal, antibiotic, antiviral) to inflammation and cancer COPYRIGHT MATINAS BIOPHARMA 2024 MATINAS BIOPHARMA#44 Lipid Nanocrystals (LNCS): A Clinically Validated Intracellular Delivery Platform Ca2+ ions Phosphatidyl- serine bilayer Hydrophobic drug Phosphatidylserine }}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}} {{ {S SS Stable, phospholipid- calcium crystalline nanocrystals 38 50-500 nm Delivery of small molecules and small oligonucleotides Successful delivery of small molecules, proteins, small oligonucleotides (siRNA, ASOs), and vaccines Extra-hepatic targeting Selective uptake driven by phosphatidylserine enables delivery in infection, inflammation, oncology Validated Blood-Brain-Barrier penetration (MAT2203) Oral delivery Unique structure protects cargo in GI tract, avoids first-pass hepatic metabolism ● Safe & stable Deliver high-target tissue concentrations of drug with low plasma levels and no absorption by non-target tissues No evidence of immunogenicity or cytotoxicity ● ● COPYRIGHT MATINAS BIOPHARMA 2024 MATINAS BIOPHARMA#5Phosphatidylserine Enables Cellular Targeting and Intracellular Delivery 5 Targeting Stressed Cells Externalize PS Normally, PS is confined to the inner layer (facing cytosol) CELL MEMBRANE CYTOSOL With injury, PS moves from the inner layer to the outer layer of the cell membrane Infection Inflammation Injury Oncogenesis CELL MEMBRANE PHOSPHATIDYLSERINE (PS) CYTOSOL With a wide variety of potential target cells PROFESSIONAL PHAGOCYTES Macrophages/monocytes Neutrophils • Dendritic cells NON-PROFESSIONAL PHAGOCYTES Fibroblasts, epithelial cells, endothelial cells ● INJURED/STRESSED CELLS Infection Inflammation Other physiologic stressors TUMOR CELLS IMMUNE CELLS • T-cells OTHER ACTIVELY DIVIDING CELLS (including extracellular pathogens) PHAGOCYTOSIS PS on the outer layer of injured cells is an "eat-me" signal enabling recognition and uptake by professional phagocytes. Cargo-carrying LNCS can be taken up in a similar fashion, with subsequent endosomal escape of cargo. Delivery PS-containing LNCS deliver their cargo to the interior of cells by both phagocytosis and fusion COPYRIGHT MATINAS BIOPHARMA FUSION PS on the outer cell membrane is also a precursor for direct membrane-to-membrane fusion and more rapid direct cytosolic delivery by cargo- carrying LNCS to cells expressing PS on their outer membranes. 2024 Phosphatidylserine receptors Nanocochleates Nucleus Cell Phagocytosis of nanocochleate Endosome Nanocochleate Nucleus Drug (e.g., siRNA) Macrophage Cell membrane Cytoplasm Fusion of nanocochleate with cell membrane. MATINAS BIOPHARMA#66 MAT2203 Oral Amphotericin B Clinical Validation of LNC Delivery COPYRIGHT MATINAS BIOPHARMA 2024 MATINAS BIOPHARMA#77 The Growing Threat of Invasive Fungal Infections (IFIS) Nature Reviews Microbiology 2022 Tackling the emerging threat of antifungal resistance to human health WIRED The Battle Against the Fungal Apocalypse Is Just Beginning HARYN CHENNA SCIENCE AUG 25, 2823 6:30 AM Fungal infections are rising worldwide and climate change may be to blame. Medicine isn't ready. WHO fungal priority pathogens list to guide research, development and public health action World Health Organization Wall Street Journal Deadly Fungal Infections Confound Doctors-'It's Going to Get Worse' https://www.wsj.com/articles/deadly-fungal-infection-candida-a Once a freak occurrence, fungi resistant to standard drugs now threaten millions of vulnerable Americans By Dominique Mosbergen Follow June 22, 2023 9:59 am ET Check for upclates Matthew C. Fisher, Ana Alastruey-Izquierdo, Judith Berman, Tihana Bicanic, Elaine M. Bignell, Paul Bowyer, Michael Bromley, Roger Brüggemann", Gary Garber, Oliver A. Cornely, Sarah. J. Gurr, Thomas S. Harrison, Ed Kuijper", Johanna Rhodes, Donald C. Sheppard, Adilia Warris ³. P. Lewis White Ⓡ¹, Jianping Xu", Bas Zwaan¹5 and Paul E. Verweij Abstract | Invasive fungal infections pose an important threat to public health and are an under-recognized component of antimicrobial resistance, an emerging crisis worldwide. Across a period of profound global environmental change and expanding at-risk populations, human- infecting pathogenic fungi are evolving resistance to all licensed systemic antifungal drugs. In this Review, we highlight the main mechanisms of antifungal resistance and explore the similarities and differences between bacterial and fungal resistance to antimicrobial control. We discuss the research and innovation topics that are needed for risk reduction strategies aimed at minimizing the emergence of resistance in pathogenic fungi. These topics include links between the environment and One Health, surveillance, diagnostics, routes of transmission, novel therapeutics and methods to mitigate hotspots for fungal adaptation. We emphasize the global efforts required to steward our existing antifungal armamentarium, and to direct the research and development of future therapies and interventions. Scientific American Fungus Candida auris lurks in hospitals, where it infects patients with impaired immune systems. Credit: Juan Gaertner Science Source Deadly Fungi Are the Newest Emerging Microbe Threat All Over the World These pathogens already kill 1.6 million people every year, and we have few defenses against them By Maryn McKenna New York Times v York Times SUNDAY, APRIL 7, 2019 Jumal 2021 COPYRIGHT MATINAS BIOPHARMA O Cody w the made as the her 70s Showered underm Fungus Immune to Drugs Secretly Sweeps the Globe Mysterious Bug Adds Alarming Dimension to Dangers of Overusing Medicines By MATT RICHTEL and ANDREW JACOBS Last May, an elderly man was admitted to the Brooklyn branch of Mount Sinai Hospital for ab dominal surgery. A blood test re- vealed that he was infected with a newly discovered germ as deadly as it was mysterious. Doctors $6.00 2024 world's most intractable healt threats the rise of drug-resista infections. perts have warned that the ov For decades, public health e use of antibiotics was reducing effectiveness of drugs that h lengthered life spars by e BLIGHT FUNGI AND THE COMING FANDEMIC Emily Monosson Wall Street Journal Dangerous Fungi Are Spreading Across U.S. as Temperatures Rise SCIENCE Some fungi such as the type that causes Valley Fever might be adapting to endure more heat stress By Dominique Mosbergen Follow Feb. 1, 2023 10:08 am ET Save AA 408 NBC Nightly News DEADLY FUNGUS SPREADING IN U.S. Listen (5 min) NIGHTLY NEWS MATINAS BIOPHARMA#88 MAT2203: Unlocking the Full Potential of Amphotericin B Innate Amphotericin B Characteristics POTENT - broad-spectrum fungicidal ✓ Minimal drug-drug interactions Low propensity for resistance Active against susceptible and emerging drug-resistant fungal infections X X X X IV Amphotericin B Limitations Only available through IV administration Significant toxicity and side effects High systemic exposure distributed throughout the body Must be administered in hospital, increasing costs COPYRIGHT MATINAS BIOPHARMA Unlocked Potential 2024 Available systemically and orally (crosses BBB following oral administration) Well-tolerated and safe Delivered directly into infected tissues MAT2203 is a promising potential therapeutic option for the treatment of MULTIPLE serious and life-threatening fungal infections Cost-effective with potential for ✓ significant health economic benefits MATINAS BIOPHARMA#99 EnACT: Phase 2 Clinical Validation of Safety and Efficacy EnACT Clinical Data in Cryptococcal Meningitis Validates the Use of the LNC Platform to Enable Oral Administration and Overcome Toxicity collo Exceeded the primary endpoint threshold EFA for MAT2203 was 0.42 (95% CI 0.29 to 0.55) (primary endpoint threshold was 0.20) 6 All patients completing induction achieved CSF sterility 97% for patients receiving MAT2203 76% for patients receiving SOC Mi No breakthrough Infections Over 10 weeks, patients showed no breakthrough infections post-MAT2203 treatment COPYRIGHT MATINAS BIOPHARMA ● + Survival at Day 30 98% for patients receiving MAT2203 2024 88% for patients receiving IV AMPB (SOC) Ⓡ MAT2203 was safe and well-tolerated over 6 weeks of treatment Repeat dosing showed no renal toxicity or electrolyte abnormalities No discontinuations due to AEs nor MAT2203-related SAEs MATINAS BIOPHARMA#1010 Results of EnACT Published in Highly-Regarded Peer-Reviewed Journal Clinical Infectious Diseases MAJOR ARTICLE IDSA hivma hiv medicine association Infectious Diseases Society of America Oral Lipid Nanocrystal Amphotericin B for Cryptococcal Meningitis: A Randomized Clinical Trial OXFORD David R. Boulware, Mucunguzi Atukunda, Enock Kagimu,² Abdu K. Musubire, Andrew Akampurira,² Lillian Tugume, Kenneth Ssebambulidde, John Kasibante, Laura Nsangi,² Timothy Mugabi, Jane Gakuru,² Sarah Kimuda, Derrick Kasozi,² Suzan Namombwe,² Isaac Turyasingura,² Morris K. Rutakingirwa, Edward Mpoza,² Enos Kigozi,* Conrad Muzoora, Jayne Ellis, Caleb P. Skipper, Theresa Matkovits, Peter R. Williamson,³ Darlisha A. Williams, Ann Fieberg, Kathy H. Hullsiek, Mahsa Abassi, Biyue Dai, and David B. Meya¹2 6 1 ¹Department of Medicine, University of Minnesota, Minneapolis, Minnesota, USA; Infectious Diseases Institute, Makerere University, Kampala, Uganda; Laboratory of Clinical Immunology and Microbiology, National Institute of Allergy and Infectious Diseases, National Institutes of Health, Bethesda, Maryland, USA; *Department of Medicine, Mbarara University of Science and Technology, Mbarara, Uganda: "Matinas Biopharma Nanotechnologies, Bedminster, New Jersey, USA; and "Division of Biostatistics, School of Public Health, University of Minnesota, Minneapolis, Minnesota, USA COPYRIGHT MATINAS BIOPHARMA 2024 MATINAS BIOPHARMA#1111 MAT2203 Expanded Access Program - Targeted Treatment of IFIs Throughout the Body Sinus Mucor nidicola Pansinusitis Lung Aspergillus calidoustus Pulmonary aspergillosis Probable fusarium species Fusarium pneumonia Skin Prototheca wickerhamii Fusarium falciforme Skin infection Skin graft Fusarium species Wound infection COPYRIGHT MATINAS BIOPHARMA 2024 Brain Cryptococcus and Fusarium Meningitis [probable coccidioidomycoses] Meningitis Histoplasma Disseminated Histoplasmosis with CNS involvement Bladder Candida krusei Hemorrhagic cystitis Bone Rhodotorula mucilaginosa Osteomyelitis MATINAS BIOPHARMA#1212 MAT2203 Expanded Access/Compassionate Use Program Demonstrated Efficacy in Treatment of Patients with Limited Treatment Options • 14 patients with no other treatment options are currently receiving or have completed treatment with MAT2203 Notable Healthcare Institutions: NIH, University of Michigan, Johns Hopkins, City of Hope, Nationwide Children's Hospital, Vanderbilt University Medical Center, Children's Hospital of Philadelphia • Patients were not responding/resistant to, or unable to receive, azole therapy • Patients were switched to treatment with IV Amphotericin B with clinical response but unable to tolerate treatment due renal toxicity All patients hospitalized to monitor/manage renal safety and most received IV electrolyte supplementation Following oral MAT2203 initiation, patients were discharged to continue treatment at home Renal toxicity reversed and renal function returned to baseline • All patients who received at least two weeks or more of treatment had positive clinical outcomes with significant success stories of full recovery in majority of patients ● COPYRIGHT MATINAS BIOPHARMA 2024 MATINAS BIOPHARMA#13Compassionate Use - Recovery from IV Amphotericin B Kidney Toxicity with MAT2203 A 38 y/o female with systemic lupus erythematosus on chronic hydroxychloroquine and prednisone presented with a progressively enlarging wound on her left foot. 13 05/2022: Initial admission L achilles tendon debridement L partial calcanectomy; Bone biopsy Culture - Rhodotorula mucilaginosa Creatinine (mg/dL) 1 0.8 0.6 0.4 0.2 4/1 2022 07/2022: Patient admitted twice for dysgeusia, nausea, vomiting, hypok, hypoMg 7 06/2022 7/1 IV Ampho-B 08/2022 Creatinine stabilized 10/1 Date 1/1 2023 11/2023: MR foot without signs of active osteomyelitis 3/1 Oral MAT2203 Potassium (mmol/L) 5 0 4/1 2022 COPYRIGHT MATINAS BIOPHARMA 2024 K+repletion 7/1 01/2023 Potassium stabilized 10/1 Date M UNIVERSITY OF MICHIGAN 04/2023: Patient remains without signs of infection 1/1 2023 3/1 MATINAS BIOPHARMA#1414 High Unmet Medical Need in Treatment of Invasive Aspergillosis (IA) Invasive aspergillosis (IA) is a serious and life-threatening invasive fungal infection that occurs primarily in severely immunocompromised patients with hematological malignancies and transplant recipients ~15,000 new cases per year in the U.S. alone WHO, CDC, and FDA consider IA a critical priority and a global public health concern • IDSA Guidelines recommend treatment with mold-active azoles as first-line treatment for 6-12 weeks ● ● Azole use requires significant expertise to manage toxicities and significant drug-drug interactions that often limits duration of use Resistance to azoles has been increasing globally Recently, cases of breakthrough IA have been reported in patients receiving antifungal prophylaxis Failures attributed to non-compliance, poor absorption, DDIs, or infection with a drug-resistant Aspergillus species Patients suffering from IA with little or no treatment options among the highest unmet medical need with approximately 3,000-5,000 cases per year (U.S. only) Rare disease/orphan commercial opportunity I * Phase 3 trial dependent on securing partnership(s) or non-dilutive government funds COPYRIGHT MATINAS BIOPHARMA 2024 MATINAS BIOPHARMA#1515 MAT2203 Regulatory and Development Strategy • Near-term development strategy refined to narrow initial target indication: treatment of invasive aspergillosis in patients with limited treatment options (azole-intolerant, azole-resistant, or not effectively managed with an azole) Potential registration through leveraging LPAD pathway Other regulatory designations protected and maintained (QIDP, ODD, Fast-Track, potential for Breakthrough Therapy) ● ● - Received written preliminary feedback from FDA on potential composite superiority endpoint and overall study design in late December 2023 Feedback moves Company closer to alignment with FDA Meeting to discuss and finalize protocol in process of being scheduled for early Q1 Preparations underway with global CRO in preparation for Phase 3 study implementation Development and commercial partnership discussions remain ongoing - COPYRIGHT MATINAS BIOPHARMA 2024 MATINAS BIOPHARMA#1616 Proposed Phase 3 Study Design in Invasive Aspergillosis (IA) To demonstrate that initial treatment with IV LAMB followed by step-down to oral MAT2203 is superior to IV LAMB followed by SoC treatment in adult patients with Invasive Aspergillosis (IA) who are unable to receive treatment with a mold-active azole and have limited alternative treatment options ● Patients will be randomized 2:1 to receive either oral MAT2203 (Experimental Arm) or continued IV LAMB followed by Standard of Care (Comparator Arm) ● IA INITIAL TREATMENT IV LAMB Randomize (2:1) oi n=~198 Experimental Arm Comparator Arm Treatment of IA in patients with LIMITED TREATMENT OPTIONS Fungal pathogen not susceptible to azoles Risk for toxicity or drug-drug interactions with azoles Other clinical contraindications for azole use UP TO 10 DAYS n=132 n=66 ● "STEP-DOWN" TREATMENT MAT2203 (1200 mg/day) PRIMARY COMPOSITE ENDPOINT Survival to Day 42 • DRC-adjudicated complete or partial global response at Day 42 or EOT if earlier • SOC Completed study treatment with no discontinuations (or changes in dosing) due to treatment-related AES or lack of efficacy COPYRIGHT MATINAS BIOPHARMA 2024 - WEEK 12 SECONDARY ENDPOINTS Overall response to treatment All-cause mortality at 42 and 84 days Safety and tolerability Pharmacoeconomic impact ● MATINAS BIOPHARMA#17MAT2203 Value Proposition AMPHOTERICIN B 17 + ORAL ADMINISTRATION Phase 2 Cryptococcal Meningitis (Proof of Concept) LACK OF NEPHROTOXICITY LIFE CYCLE MANAGEMENT Phase 3 Invasive Aspergillosis Oral step-down therapy (Limited- or no-treatment Option Patients) VALUE Near-Term Development Strategy: Focused strategy on Phase 3 registration trial in Invasive Aspergillosis in patients with limited or no treatment options under the Limited Population Pathway for Antifungal Drugs (LPAD)* COPYRIGHT MATINAS BIOPHARMA Safe, long-term oral step-down Tx with a potent fungicidal agent 2024 LCM Treatment of Other IFIS Prophylaxis * NDA review issue MATINAS BIOPHARMA#1818 LNCs Beyond MAT2203 Efficient and Safe Delivery of Small Oligos COPYRIGHT MATINAS BIOPHARMA 2024 MATINAS BIOPHARMA#1919 LNC Therapeutic Cargo Experience to Date Infection Inflammation Oncology In Vivo Animal Studies Animal model Cystic fibrosis mouse model BALB/c mouse flu model [Multiple mouse fungal models] Pneumocystis mouse model Mouse SARS-CoV-2 model Rat footpad inflammation model GvHD mouse model LPS mouse model Psoriasis (IMQ) mouse model* DSS colitis mouse model* Lymphocytic leukemia mouse model Syngeneic mouse melanoma model* Cargo Amikacin ASO Flu protein siRNA Amphotericin- B Atovaquone Remdesivir NSAID ST1959 RNAi RNAi RNAi ASO Docetaxel COPYRIGHT MATINAS BIOPHARMA 2024 Indication Mucocutaneous candidiasis Job's syndrome, NIH Vulvovaginal Candidiasis (VVC) Phase 2 HIV/ cryptococcal meningitis, Phase 2 * new Human Clinical Trials * new * new Cargo Amphotericin - B Amphotericin - B Amphotericin - B MATINAS BIOPHARMA#2020 Unlocking the Full Potential of the LNC Platform Matinas is working internally and with third parties to broaden its pipeline of LNC-based therapeutics PROVEN Oral Formulations of Anti-Infectives ● MAT2203 Remdesivir MAT2501 Oral Formulations of Chemotherapeutics Docetaxel UNDER EVALUATION Intracellular Delivery of Nucleic Acids siRNA ASO FUTURE Potential Therapeutic Applications INFECTION COPYRIGHT MATINAS BIOPHARMA ● *INFLAMMATION Autoimmune diseases ● Anti-infectives Antivirals • Neuro-inflammatory ● diseases Acute/chronic Inflammatory diseases *ONCOLOGY • Hematologic & solid tumor malignancies * Key Areas of Focus for Internal LNC Oral Small Oligonucleotides 2024 MATINAS BIOPHARMA#2121 In vitro Tumor Cell Inhibition with LNC Docetaxel Formulations RATIONALE AND NEXT STEPS ● ● LNC Docetaxel program also provides insight into tumor uptake of LNCs Foundation for subsequent small oligo work In vitro results demonstrate strong LNC efficacy in inhibiting tumor cell growth • In vivo studies planned in multiple tumor models % Inhibition 100 90 80 70 60 50 40 30 20 10 0 500 3 LNC Formulations Demonstrated Significantly Better Tumor Cell Inhibition Than Unformulated Drug MCF7 breast cancer cells COPYRIGHT MATINAS BIOPHARMA 250 MM-51 2024 125 MM-53 62 16 LNC-Docetaxel Dose (ng/well) MM-54 31 Taxol 8 4 MATINAS BIOPHARMA#2222 In vivo Therapeutic Efficacy of Oral Docetaxel LNCs in a Murine Syngeneic Melanoma Model Female C57BL/6 mice (n = 40) 3 Tumor Volume (mm³) 2000 1500 1000 500 O 106 B16F10 tumor cells 5 Injection Tumor growth 7 5 days Untreated IV Docetaxel High Dose LNC-docetaxel Low Dose LNC-docetaxel 10 Study Day 12 Day 5 Begin Rx + 14 4 Groups Untreated control (with tumors) Docetaxel 0.15 mg/mouse iv on day 5 and day 10 Oral LNC-docetaxel - high dose - 0.5 mg/day 5-13 Oral LNC-docetaxel - low dose - 0.17 mg/day 5-13 Tumor volume (caliper) Treatment (9 Days) COPYRIGHT MATINAS BIOPHARMA Day 14 Sacrifice Tumor weight Hematology panel Reductions in tumor volume and tumor weight comparable to that seen with IV docetaxel No significant effect of daily oral docetaxel treatment on body weight or hematologic parameters 2024 Next Steps Further evaluation of safety vs IV Docetaxel Screening of multiple tumor cells lines for LNC uptake Evaluation in other tumor models Other potential chemotherapies MATINAS BIOPHARMA#2323 LNC-formulated Small Oligos Show Strong Uptake in Innate Immune Cells Support Role in Treating Inflammation Percent of cells with uptake 100 80 60 40 20 O 0.3 63.1 Neutrophils 80 ug/mL LNC 512 ng/mL Cy5-labeled siRNA cargo 99.9 Human Ex-vivo Whole Blood Study 3.8 Time O 70.8 97.5 Monocytes 3 hours 0.2 24 hours COPYRIGHT MATINAS BIOPHARMA 2024 39.9 94.5 mDC 0.0 0.3 pDC 81.6 MATINAS BIOPHARMA#24Back skin scale score Redness score 24 0 0 4 3 0 Effect of Oral LNC IL-17A RNAi in a Murine Imiquimod (IMQ) Psoriasis Model 0 * - p < 0.001 (Day 4-7) 2 3 2 4 Day HIHH HHH 5 * - p < 0.001 (Day 4-7) * * HHI IHI 6 7 HH H HHHHHH HH Scaling 8 HHIHH Back skin scale score 7 Redness 3 4 5 6 7 8 Days on Study Redness 32 4 3 1 O 2 Naiive Naiive IMQ H IMQ Day 7 LNC 1 Day 7 LNC 1 LNC 2 LNC 2 IL-17 Ab IL-17 Ab BalbC mice (n = 50) Fold change 2.01 1.5- 1.0- 0.5- 0.0 COPYRIGHT MATINAS BIOPHARMA Naive 2024 5 Groups Naïve IMQ only LNC1 LNC2 IL-17A murine Ab IMQ | 10 µg/mouse daily (oral gavage) 1 mg/kg i.p. qod Change in IL-17A Tissue mRNA at Day 7 (5 per group) T T LNC 1 47%↓ T LNC 2 IL-17A Ab [ Changes in serum cytokine levels not expected in this model] MATINAS BIOPHARMA#2525 Disease Activity Index Effect of Oral LNC-TNFa RNAi in a Murine DSS Acute Colitis Model Female C57BL/6 mice (n=55) 6 5 1 0 DSS 3.5% Untreated control DSS alone DSS+ oral LNC 1 DSS+ oral LNC 2 DSS+ oral Scrambled LNCS DSS + anti-TNFa Ab G1-DSS (3.5%)-Control G2-LNC1+DSS G3-LNC2+DSS G4-Scrambled LNC+DSS G5-anti-TNFa Ab+DSS G6-Control (Naive) 6 Groups KTH pre-Rx for 2 days, then qd 10 ug/dose 0.167 mg/mouse on day 0, 4 and 6 p < 0.01 Day 7-11 p < 0.05 - Day 10-14 p < 0.001 Day 7-14 - DSS alone vs. LNC2 0 1 2 3 4 5 6 7 8 9 10 11 12 13 14 Day Fold change pg/ml COPYRIGHT MATINAS BIOPHARMA 151 Change in TNFa Tissue mRNA at Day 14 (5 per group) 10- 2- 1 0 30- 20- 10- 0 Naive T Naive 2024 DSS DSS LNC 1 45%↓ LNC 2 LNC 1 Serum TNFa at Day 14 T_p=0.014 37% SCR LNC 2 SCR TNFa Ab TNFa Ab MATINAS BIOPHARMA#2626 Summary of Recent Key Advances Successful in vivo oral delivery of LNC-Docetaxel in a melanoma tumor model • Reductions in tumor weight and volume comparable to those seen with IV docetaxel No adverse effects on body weight or hematologic parameters ► Successful in vivo oral delivery of LNC formulations of 2 different RNAi oligonucleotides targeting inflammatory cytokines • Documented biological activity and therapeutic impact in two different disease models. - Psoriasis (IL-17A) ● Reduction in tissue IL-17A mRNA levels (skin) Statistically significant improvement in clinical scoring of skin lesions Colitis (TNFa) ● ● ● ● Reductions in tissue TNFa mRNA levels (colon) Statistically significant reductions in serum TNFx levels Statistically significant improvement in disease activity scores COPYRIGHT MATINAS BIOPHARMA 2024 These results highlight and validate the unique capabilities of the LNC platform beyond MAT2203 1) Oral delivery 2) Delivery of active therapeutics (small molecule and small oligo) to diseased tissues outside the liver 3) Low blood levels of active drug, with potential for improved safety MATINAS BIOPHARMA#2727 Expanding LNC Intellectual Property Portfolio Continuingly increasing our patent suite to increase protection and exclusivity 0 + MAT2203 potentially entitled to 12+ years of exclusivity (QIDP & Orphan status) Global Platform IP base protection out to 2037 with 20 patents issued in last 5 years Strong IP & Regulatory Designations COPYRIGHT MATINAS BIOPHARMA 2024 Im Recent patent applications based on formulation work with small oligonucleotides MATINAS BIOPHARMA#2828 Experienced Leadership Team EXECUTIVE TEAM Jerome D. Jabbour, J.D. Chief Executive Officer ReliantⓇ PHARMACEUTICALS James Ferguson, M.D. Chief Medical Officer The Medicines AMGEN Company AstraZeneca Thomas Hoover, MBA Chief Business Officer MILLENDO Sunovion THERAPEUTICS gsk Keith Kucinski, CPA, MBA Chief Financial Officer PAR barr PHARMACEUTICAL Pharmanticals (5 Theresa Matkovits, Ph.D. Chief Development Officer nps pharmaceuticals NOVARTIS The Medicines Company Hui Liu, Ph.D., MBA Chief Technology Officer Allergan. Alcon Segirus A CSL COMPANY COPYRIGHT MATINAS BIOPHARMA 2024 BOARD OF DIRECTORS Eric Ende, M.D., MBA Chairman of the Board Herbert Conrad Director James Scibetta Director Kathryn Corzo Director Natasha Giordano Director Matthew Wikler, M.D., MBA Director Jerome D. Jabbour, J.D. CEO genzyme MERRILL A SANOFI COMPANY PHARMASSET Roche ImmunelD bit.bio THE CELL CODING COMPANY A BANK OF AMERICA COMPANY MAVERICK THERAPEUTICS Celldex therapeutics ReliantⓇ PHARMACEUTICALS Takeda PACIRA PHARMACEUTICALS, INC. SANOFI PLX Xanodyne PHARMA INC. pharmaceuticals, inc. ReliantⓇ PHARMACEUTICALS Medicines FDA Company MATINAS BIOPHARMA#2929 Matinas Investment Thesis Financial Summary THST Runway into Q3 2024 $18.2M¹ in Cash, Cash Equivalents and Marketable Securities as of 09/30/23 1 Non-Dilutive Financing Options Near-Term Milestones - Setup for Strong Start to 2024 Q1 - FDA Meeting to Finalize P3 Protocol Following Written Preliminary Feedback Moving Company Closer to Alignment with FDA ● Q1 - LNC-docetaxel Maximum Tolerated Dose Longer Term Safety Study vs. IV-docetaxel Q1 - Additional in vivo Oral Delivery of Small Oligonucleotide Targeting Inflammation Q1 Potential MAT2203 Domestic/Regional/Global Partnership Q1 - Screening of Tumor Cell Lines for LNC Uptake Including Breast, Brain, Liver & Lung Q1 Evaluation of LNC-docetaxel in Additional Tumor Models Q2 Potential New Platform Collaboration 2024 - Potential BARDA Funding for MAT2203 Solid Value "Foundation" MAT2203 Clinically Validated Phase 3-ready asset Highest unmet need - - COPYRIGHT MATINAS BIOPHARMA 2024 个 Substantial UPSIDE LNCs Facilitating ORAL Delivery of Small Oligonucleotides And Establishing Internal and External Pipelines MATINAS BIOPHARMA