Arvinas : Corporate Presentation - July, 2020

Safe harbor and forward-looking statements

This presentation contains forward-looking statements within the meaning of The Private Securities Litigation Reform Act of 1995 that involve substantial risks and uncertainties, including statements regarding the development and regulatory status of our product candidates, such as statements with respect to our lead product candidates, ARV-110 and ARV-471, and the timing of clinical trials and data from those trials for our product candidates, and our discovery programs that may lead to our development of additional product candidates, the potential utility of our technology and therapeutic potential of our product candidates, the potential commercialization of any of our product candidates, the potential benefits of our arrangements with Yale University, our collaborative partnerships, and the Bayer joint venture, and the sufficiency of our cash resources. All statements, other than statements of historical facts, contained in this presentation, including statements regarding our strategy, future operations, future financial position, future revenues, projected costs, prospects, plans and objectives of management, are forward-looking statements. The words "anticipate," "believe," "estimate," "expect," "intend," "may," "might," "plan," "predict," "project," "target," "potential," "will," "would," "could," "should," "continue," and similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain these identifying words.

We may not actually achieve the plans, intentions or expectations disclosed in our forward-looking statements, and you should not place undue reliance on our forward-looking statements. Actual results or events could differ materially from the plans, intentions and expectations disclosed in the forward-looking statements we make as a result of various risks and uncertainties, including but not limited to: whether we will be able to successfully conduct Phase 1/2 clinical trials for ARV-110 and ARV-471, complete other clinical trials for our product candidates, and receive results from our clinical trials on our expected timelines, or at all, whether our cash resources will be sufficient to fund our foreseeable and unforeseeable operating expenses and capital expenditure requirements, each party's ability to perform its obligations under our collaborations and/or the Bayer joint venture, our expected timeline and other important factors, any of which could cause our actual results to differ from those contained in the forward-looking statements, discussed in the "Risk Factors" section of the Company's quarterly and annual reports on file with the Securities and Exchange Commission. The forward-looking statements contained in this presentation reflect our current views as of the date of this presentation with respect to future events, and we assume no obligation to update any forward-looking statements except as required by applicable law.

The Arvinas name and logo are our trademarks. We also own the service mark and the registered U.S. trademark for PROTAC®. The trademarks, trade names and service marks appearing in this presentation are the property of their respective owners. We have omitted the ® and ™ designations, as applicable, for the trademarks named in this presentation.

Novel PROTAC® (proteolysis-targeting chimera) degrader platform

• • Elimination of disease-causing proteins, instead of inhibition

• • Power of genetic medicines with small-molecule benefits

Strategic, discovery-stage partnerships with Pfizer, Genentech, and Bayer

• • Pharmaceutical partnerships across multiple therapeutic areas

• • Joint venture (Oerth Bio) with Bayer for agricultural applications

• • Up to $2.1B in total potential milestones plus tiered royalties

Platform-enabled pipeline of oncology and neuroscience programs

• • ARV-110 for men with metastatic castration-resistant prostate cancer

  • - Initial phase 1 data disclosed in 2Q20 showed safety, efficacy signal, and androgen receptor degradation

  • - Provides initial proof-of-concept for Arvinas' PROTAC® platform

• • ARV-471 for patients with ER-positive / HER2-negative locally advanced or metastatic breast cancer

  - Initial clinical safety/PK data shared in

  October 2019

• • Brain-penetrant PROTAC programs targeting tauopathies, α-synucleinopathies, and other neurological disorders

• • All programs fully owned by Arvinas

Leader in targeted protein degradation

• • Two clinical-stage, oral degraders

• • Brain-penetrant programs to degrade neuroscience targets

• • Aggressively investing in the platform to maintain leadership position

• • Nearly 150 employees fully dedicated to targeted protein degradation

Strong cash and intellectual property positions

• • ~$262.8 M in cash, cash equivalents, and marketable securities as of 3/31/20

• • Platform IP complemented by specific product IP

ARV-110 is the first PROTAC degrader with an efficacy signal in humans, in a heavily pretreated patient population where standard of care inhibitors have failed

The first evidence for androgen receptor degradation in patients, showing that the PROTAC platform is working as intended

ARV-110 has been generally well tolerated, and dose escalation continues

1 FTLD-tau, frontotemporal lobar degeneration-tau. 2 PSP, progressive supranuclear palsy. 3 MSA, multiple systems atrophy