Benevolent Platform Precision Medicine

Non-Alcoholic SteatoHepatitis (NASH) Affects 11% US population (1), 63 million patients in 7MM (2), forecast $27.2bn market by 2029(3) Non-alcoholic fatty liver disease (NAFLD) is a metabolic disorder characterised by accumulation of fatty deposits in the liver; non-alcoholic steatohepatitis (NASH) occurs when NAFLD progresses, and is associated with liver inflammation, fatty deposits, and fibrosis High unmet need - NAFLD and NASH pose a high economic burden, driven by costs to provide chronic care for patients (including liver transplants) in the absence of any disease modifying therapy; currently hard to detect meaning NASH is often diagnosed later in the disease course 30% 27% Fibrosis Staging 0-1 Fibrosis Staging 2 NASH 25% 17% Fibrosis Staging 3 USA, Japan, EU5 (4) Fibrosis Staging 4 (Cirrhosis) NASH Fibrosis Staging (0-4), percentage of diagnosed Prevalent Cases of NASH, ≥18 Years, BAI-5030: (Target A) Best-in-class, potent and selective drug for the treatment of NASH. (Target B) First-in-class programme • Targets A and B were identified by our TargetID platform as entirely novel targets for the treatment of NASH - representing mechanistically distinct approaches • We are currently applying our Hit Identification (Target B) and Hit expansion (Target A) capabilities to support the identification of potent and selective inhibitors • BAI-5030 is expected to provide efficacious, mechanistically differentiated, disease modifying . treatments for NASH, with the potential to reduce fibrosis in both early and late stages of disease BAI-5030 will target fibrosis (and potentially steatosis) in NASH, meeting the unmet need for patients including: О Lack of currently approved therapies High mortality and prevalence of NASH Severe disease progression in absence of disease modifying therapy, including development of cirrhosis and hepatocellular carcinoma Source (1), (2), (3) and (4):GlobalData, Non-Alcoholic Steatohepatitis (NASH): Opportunity Analysis and Forecasts to 2029 Benevolent 59 Al

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