BenevolentAI SPAC Presentation Deck

Ulcerative Colitis (UC) Affects 0.4% US population(¹), 1.7 million patients in 7MM (2), forecast $7.8bn market by 2026(3) ● A chronic, lifelong disease that causes inflammation and ulceration of the inner lining of the colon and rectum Efficacy - 20-40% of Moderate-severe patients do not respond to anti-TNF (main treatment paradigm) Safety - Treatments have many side effects from steroids to anti-TNF and JAK inhibitors (black box warnings) High unmet need for an alternative oral small molecule treatment option with improved safety profile and efficacy in treatment of refractory patients 64% Mild- moderate Ulcerative Colitis 31% Moderate- severe 5% Severe- fulminant Source (1) and (2):GlobalData: Ulcerative Colitis, Global Drug Forecast and Market Analysis to 2026; (3)Evaluate Pharma: Gastro-intestinal, Inflammatory bowel disease (IBD), Ulcerative colitis, Worldwide Overview (report 17th Sep 2021) BEN-8744: Best-in-class, oral, peripherally restricted potent and selective drug for the treatment of Moderate-Severe Ulcerative Colitis • Phosphodiesterase 10 (PDE10) was identified by our TargetID platform as an entirely novel target for the treatment of UC/IBD • Using our Molecular Design expertise we optimally designed a best in class peripherally restricted PDE10 inhibitor: BEN-8744 ● BEN-8744 is expected to provide an efficacious disease modifying oral treatment for UC/IBD BEN-8744 will target Moderate and Severe UC/IBD patients, meeting the unmet need left by existing therapies including: Patients refractory to anti-TNFS or other biologics Improved safety and tolerability profile compared to competitors O A Precision Medicine approach to target key responder patient cohorts, avoiding the safety risks associated with ineffective therapies O O Benevolent 25

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