Sun Pharma Advanced Research : Corporate Presentation

Corporate Overview

July 2022

©SPARC

Disclaimer

This presentation and its contents should not be distributed, published or reproduced, in whole or part, or disclosed by recipients directly or indirectly to any other person. Any failure to comply with these restrictions may constitute a violation of applicable laws. Accordingly, any persons in possession of this presentation should inform themselves about and observe any such restrictions. This presentation may include statements which may constitute forward-looking statements. All statements that address expectations or projections about the future, including, but not limited to, statements about the strategy for growth, business development, market position, expenditures, and financial results, are forward looking statements. Peak sales forecast/potential in the presentation represent potential sales of the product/s for the commercialization partner. Forward looking statements are based on certain assumptions and expectations of future events. This presentation should not be relied upon as a recommendation or forecast by Sun Pharma Advanced Research Company Limited ("Company"). Please note that the past performance of the Company is not, and should not be considered as, indicative of future results. The Company cannot guarantee that these assumptions and expectations are accurate or will be realized. The actual results, performance or achievements, could thus differ materially from those projected in any such forward-looking statements. The Company does not undertake to revise any forward- looking statement that may be made from time to time by or on behalf of the Company. Given these risks, uncertainties and other factors, viewers of this presentation are cautioned not to place undue reliance on these forward looking statements.

The information contained in these materials has not been independently verified. None of the Company, its Directors, Promoters or affiliates, nor any of its or their respective employees, advisers or representatives or any other person accepts any responsibility or liability whatsoever, whether arising in tort, contract or otherwise, for any errors, omissions or inaccuracies in such information or opinions or for any loss, cost or damage suffered or incurred howsoever arising, directly or indirectly, from any use of this document or its contents or otherwise in connection with this document, and makes no representation or warranty, express or implied, for the contents of this document including its accuracy, fairness, completeness or verification or for any other statement made or purported to be made by any of them, or on behalf of them, and nothing in this presentation shall be relied upon as a promise or representation in this respect, whether as to the past or the future. The information and opinions contained in this presentation are current, and if not stated otherwise, as of the date of this presentation. The Company undertakes no obligation to update or revise any information or the opinions expressed in this presentation as a result of new information, future events or otherwise. Any opinions or information expressed in this presentation are subject to change without notice. This presentation does not constitute or form part of any offer or invitation or inducement to sell or issue, or any solicitation of any offer to purchase or subscribe for, any securities of the Company, nor shall it or any part of it or the fact of its distribution form the basis of, or be relied on in connection with, any contract or commitment therefor. No person is authorized to give any information or to make any representation not contained in or inconsistent with this presentation and if given or made, such information or representation must not be relied upon as having been authorized by any person. By participating in this presentation or by accepting any copy of the slides presented, you agree to be bound by the foregoing limitations. All brand names and trademarks are the property of respective owners.

SPARC © 2022

2

Pipeline overview & key short-term catalysts

Asset / Program	MoA	Indication	Discovery Preclinical Phase 1	Phase 2	Phase 3/	Upcoming	Partner
Registration Study	Catalyst
		Parkinson's				PoC data from
					PROSEEK
				Disease
							study in 2023
Vodobatinib	c-ABL			Lewy Body			PoC data in 2023
(SCC-138)	Inhibitor	Dementia1
				Alzheimer's
				Disease
Vodobatinib	BCR-ABL	Refractory				Pivotal data
(SCO-088)	Inhibitor			CML				in 2024
SCO-120	SERD	Metastatic				Phase 1 data
Breast Cancer				in 2023
			Psoriasis				Phase 2
Vibozilimod	Selective					data in 2023
(SCD-044)	S1PR1 agonist			Atopic				Phase 2 data
		Dermatitis				in 2023
				Alopecia
				Areata
ADC	MUC-1			Multiple				IND Filing
		Tumors				Targeted 2023

Delivery Systems programs | Commercial (2 in Ophthalmology and 1 in Neurology).

Assets - Elepsia XR, Xelpros BAK Free, Lipodox and other platform licensing trxns + 3 NDAs planned for 2022 Preclinical Assets | 10+ preclinical assets under development to ensure a robust pipeline for future growth

Neurology Oncology Immunology

1. Investigator Initiated Study | MoA = Mechanism of Action | PoC = Proof of Concept | CML = Chronic Myeloid Leukemia | SERD = Selective Estrogen Receptor Degrader | S1PR1 = Sphingosine-1-Phosphate Receptor 1 IND = Investigational New Drug | TAA-1 = Tumor Associated Antigen-1 | IBD = Inflammatory Bowel Disease

SPARC © 2022

3

Long term intent - Realize the potential of SPARC operating model to build a high impact institution

Access early stage science and capabilities globally

Calibrated risk taking in large

unmet needs

Collaborations with academic innovators and small biotechs

Competitive partnering model

Growing footprint

Robust internal validation and stage gates

Focused internal ideation effort

Efficient translation leveraging cost and patient access advantages

Low cost of failure/

More shots on the goal

Strong Med-Chem team & growing Biologics group focusing on multi-specific conjugates & fusions Biology infrastructure and CMC expertise to validate developability and progress to clinic

Network of service providers Experienced clinical team with an India/US focus

Maximize value capture

through 'asset appropriate'

commercialization

Strategic flexibility to

maximize returns

Leverage legacy portfolio for non-dilutive capital through licensing transactions Maintain optionality on high value assets

Asset specific vehicles to continue to develop assets without diluting SPARC Maintain flexibility for the SPV exits

Extent of validation

Where do we go

Feed the beast - Good science in identified problems | Focus on early target validation | Early stage asset acquisitions & partnerships

Structure guided computational chemistry| modular biologics platform | Fully leverage & expand patient access advantages

Develop Vodobatinib & MUC-1 program into high value commercial propositions through non-dilutive structures post P2

SPARC © 2022

4

Opportunity to further extend the operating model advantages

SPARC strategic development partnerships

Expand the pre-clinical portfolio through targeted partnerships and asset acquisitions in key focus areas

SPARC operational footprint

Princeton, NJ

Clinical

Development,

Regulatory Sciences and

Partnerships

Currently 25 scientists.

Vadodara, India

3 centers, Discovery and Translational Dev Hub. Currently 225 scientists.

Mumbai, India

Houses Clinical Development and Delivery System Currently 150 scientists.

Internalization of clinical development operations Increase the patient capture from India

Create an Eastern European clinical execution hub to further expand the patient access advantage

Start building out late stage development capability

Fourth lab location with access to early stage biology & tax advantages for asset holding

SPARC commercial partnerships (Sun Pharma, CMS, Visiox, Tripoint)

Build the capital base to maintain optionality going into 2023 Start developing a commercial core for the future

SPARC © 2022

5