BenevolentAI SPAC Presentation Deck

Atopic Dermatitis (AD) • Atopic dermatitis is the most common chronic inflammatory skin disease, characterized by intensely itchy, red, and swollen skin O Affects 10-20% of children and up to 3% of adults (¹) Approximately 60-70% of all cases present with mild-moderate disease severity (2) Prevalence is rising, with market value in 7MM forecast to exceed $14 billion by expected launch of BEN-2293 in 2028(¹) Skin inflammation and chronic pruritus associated with atopic dermatitis negatively impact quality of life and psychosocial well-being Clear unmet need in mild to moderate patient segment for treatment addressing itch and inflammation, without side effects of steroids Source: (1) GlobalData- Atopic Dermatitis: Global Drug Forecast and Market Analysis to 2027; Evaluate Pharma - Eczema/Dermatitis: Worldwide Sales 2026 (2) GlobalData- Atopic Dermatitis: Epidemiology Forecast to 2027 BEN-2293: A potent PanTrk antagonist developed to relieve inflammation and provide rapid itch resolution in patients with AD BEN-2293 is a PanTrk inhibitor targeting TrkA, B and C receptors. The Trk receptors were identified as part of an effort to find mediators of both itch and inflammation in AD. Using our Molecular Design expertise we were able to design a PanTrk inhibitor, equipotent against the 3 receptors BEN-2293 is expected to treat atopic dermatitis by: Inhibiting itch signaling and blocking nerve sensitization (TrkA) in addition to inhibiting Thl and Th2-mediated dermal inflammation (TrkB, TrkC) • BEN-2293 will target Mild, Moderate and Severe Atopic Dermatitis patients, addressing unmet need in the treatment of mild to moderate Atopic Dermatitis as a steroid sparing alternative and in more severe patients undergoing treatment with biologics (e.g. dupilumab) that require add-on treatment HPA - Hypothalamus, Pituitary, Adrenal Benevolent 22

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