Fourth-Quarter and Full-Year 2019 Orphan and Rheumatology Segment Results

Progressive TED Becomes Fibrotic; Without Treatment Damage Becomes Permanent; May Require Surgery Signs and Symptoms Thyroid Eye Disease: Progressive Phase Evolves to Fibrotic Phase Complex and Multiple Surgeries, Including Decompression Surgery Progressive phase (inflammation, pain) Fibrotic phase (permanent damage and disfigurement) Ideal Therapy HI HORIZON Source: Smith & Douglas (2011). Natural course of the disease Time Progressive Fibrotic Exposing Orbit Surgery Removing Bone Removing Tissue and Bone 15

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