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Dare Bioscience Investor Presentation Deck

Females age 15-44 (MM) 69 68 64 63 62 63.6 63.9 64.2 Women in the Reproductive Health & Contraception Market Segment (over 60 million women) 64.6 45.0 45.4 Total US Females Age 15-44 (Millions) 65.8 462 46.5 2016 2017 2018 2019 2020 2021 2022 2023 2024 Contraception: Large Market Opportunity 66.7 46.8 47.0 67.2 67.3 67.5 67.6 47.8 48.0 3.https://www.sec.gov/Archives/edgar/data/0000310158/000031015819000014/mrk1231201810k.htm 68.1 48.1 2025 2026 2027 2028 2029 2030 2031 2032 2033 2034 2035 Year Source: US Census Bureau, 2017 National Dataset (2016 is base population estimate for projection) https://www.census.gov/programs surveys/popproj.html 1.https://www.bayer.com/en/bayer-ag-annual-report-2019.pdfx. Includes sales for Mirena, Kyleena and JaydessⓇ/Skyla 2.https://www.prnewswire.com/news-releases/allergan-reports-fourth-quarter-and-full-year-2019-financial-results-301001646.html Successful Contraceptive Brands Peak Sales: Mirena® Hormone IUD (levonorgestrel-releasing intrauterine system) 52mg Physician inserted, long-acting. low/locally delivered hormone IUS 2020 worldwide sales: €1.2 billion (Bayer)¹ How to use Nuvaking Lo Loestrin (norethindrone acetate and ethinyl estradiol, ethinyl estradiol tablets) Lowest amount of daily estrogen (10 micrograms) available in pill form 2019 US sales: $588 million (Allergan)² NuvaRingⓇ (etonogestrel/ethinyl estradiol vaginal ring) Lo Loestrin Fe dette and inte tiratiotit at onc lorum tilet 1101 Monthly vaginal ring 2018 worldwide sales: $900 million (Merck)³ 23
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