JP Morgan Healthcare Conference Innovation Update

VISION CARE INNOVATION COMET-2: PROPORTION WITH ≥10 mm INCREASE IN SCHIRMER SCORE AR-15512: PRIMARY ENDPOINT MET IN BOTH COMET STUDIES, SUPPORTING PATH TO SEEK FULL INDICATION OF TREATMENT OF SIGNS AND SYMPTOMS OF DED¹ Proportion of Subjects 60%- 40%- 20%- *p<0.0001 ilill LLL Day 28 0%- 60%- 40%- 20% 0% *p<0.0001 Day 1 Alcon *p<0.0001 Day 14 Study Visit COMET-3: PROPORTION WITH ≥10 mm INCREASE IN SCHIRMER SCORE *p<0.0001 Day 7 Day 1 *p<0.0001 *p<0.0001 *p<0.0001 LLLLL Day 7 Day 14 Study Visit *p<0.0001 *p<0.0001 Day 90 Day 28 *p<0.0001 AR-15512 Vehicle Primary Endpoint Day 90 AR-15512 is an investigational product and has not been submitted to US FDA for approval AR-15512 Vehicle Primary Endpoint NDA FILING PLANNED FOR MID-YEAR '24 2023 COMET 2 COMET 3 1. Efficacy requirement for full indication of treatment of signs and symptoms of Dry Eye Disease met in accordance with FDA 2020 draft guidance for Dry Eye. 2024 PAGE 12 COMET 4 Phase 3: Safety Study (on track) NDA filing BUSINESS USE ONLY

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