Investor Presentation

22 ACR CRISS Score: Clear Improvement Achieved in Overall Disease ACR CRISS score, median percent 100% 90% 80% 70% 60% 50% 40% 30% 20% 10% 0% Stable standard-of-care drugs, including immunosuppressive drugs 19 3 28 DBPC 33 15 01 1 0 ¹0 4 8 12 16 Placebo DBPC Lenabasum DBPC Lenabasum OLE Continued standard- of-care only 0 4 21 35 65 63 12 Weeks OLE Lenabasum 70 95 77 95 99 20 28 36 44 52 60 68 76 1: Khanna et al. Arthritis Rheumatol. 2016; 68:299-311 Khanna et al. EULAR abstract SAT0373, 2017 Calculated using change from baseline in mRSS, Physician Global Assessment, Patient Global Assessment, Health Assessment Questionnaire - Disability Index, and FVC % predicted Comparator trials: Drug Cyclophosphamide¹ Tocilizumab2, Ph 2 Tocilizumab3 + rescue immunosuppressive drugs after 16 weeks if needed, Ph 3 Abatacept4 + rescue immunosuppressive drugs after 26 weeks if needed, Ph 2 N 84 693 623 210 695 Time (wks) 52 24 48 48 Lenabasum 52 ACR CRISS score, % Active PBO 24 1 23 1 31 0 89 68 1 Khanna et al. ACR abstract 726, 2017.. 2 Khanna et al. EULAR abstract SAT0373, 2017 3 Completers only, Initial N = 87.34 Khanna et al. ACR abstract 898, 2018 4 Khanna et al. ACR abstract 900, 2018 69 completers 25

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