Aravive Investor Presentation Deck

Market Research Suggests Batiraxcept Would Fill an Unmet Need and Be Adopted into the Current PDAC Treatment Paradigm Unmet Need for Chemo Alternatives Desire for Targeted Tx Addressing More Pts Improved Efficacy over SOC Lack of agents beyond gem + nab-pac and FOLFIRINOX and limited anticipated competition in PDAC bolsters expected brand share PDAC has limited actionable biomarkers that total <5% of eligible patients, fostering a desire for options that address a greater proportion of patients Physicians were highly enthusiastic about the improved efficacy over-3 months (e.g., OS, PFS), especially in the upside case "If the biomarker high population were really 70%, I would serum test and give [the upside] to all my positive patients.' - KOL "Efficacy in the base case is similar to FOLFIRINOX, I like that it is more tolerable for patients." - Healthcare Provider "If I had good results with Product X in my ECOG 0-1 patients, then I would consider utilizing in certain ECOG 2 patients too." - Healthcare Provider Note: physicians' comments based on P1b data 35

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