Investor Presentation

Unencumbered Commercial Rights Provide for Global / Regional Strategic Optionality NORTH AMERICA PATIENT POPULATIONS¹: SSC: 84,000 DM: 40,000 SLE: 280,000 CF: 30,000 EUROPE PATIENT POPULATIONS¹: SSC: 81,000 DM: 31,000 SLE: 240,000 CF: 39,000 10 X 1: Health Advances, LLC; Lenabasum Commercial Market Assessment, 2: Rheumatology, Ru Li, Jian Sun, et al. (2012) Partnered with Kaken Pharmaceutical for SSC, DM Significant Market Opportunity JAPAN PATIENT POPULATIONS¹: SSC: 28,000 DM: 9,000 SLE: 50,000 CHINA PATIENT POPULATION²: SSC:140,000 DM: 70,000 SLE: 420,000

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