Beyond Air : Corporate Presentation

Corporate Presentation

March 2024

Forward Looking Statements

This presentation is for informational purposes only and shall not constitute an offer to sell or the solicitation of an offer to sell or the solicitation of an offer to buy any securities of Beyond Air, Inc. (the "Company") nor shall there be any sale of securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such jurisdiction. The Company files annual, quarterly and other reports with the Securities and Exchange Commission (the "SEC") including its Annual Report on Form 10-K for the year ended March 31, 2023 (the "Form 10-K") which was filed on June 22, 2023. You may get these documents for free by visiting EDGAR on the SEC's website at www.sec.gov. For a more complete discussion of the risk factors affecting our business, please refer to the Form 10-K.

Our public communications, including this presentation, and SEC filings, may contain statements related to future, not past, events. These forward-looking statements are based upon current beliefs and expectations of Beyond Air's management and are subject to significant risks and uncertainties. These forward-looking statements often, but not always, may be identified by the use of words such as "believes," "estimates," "anticipates," "targets," "expects," "plans," "projects," "intends," "predicts," "may," "could," "might," "will," "should," "approximately," potential" or, in each case, their negative or other variations thereon or comparable terminology, although not all forward- looking statements contain these words. If underlying assumptions prove inaccurate or risks or uncertainties materialize, actual results may differ materially from those set forth in the forward-looking statements.

These forward-looking statements appear in a number of places throughout this presentation and include statements regarding our intentions, beliefs, projections, outlook, analyses or current expectations concerning, among other things, the patient market size and market adoption of our products by physicians and patients, the timing and cost of clinical trials for our products or whether such trials will be conducted at all, completion and receiving favorable results of clinical trials for our products, the development and approval of the use of nitric oxide for additional indications, FDA approval of, or other regulatory action with respect to, the timing, cost or other aspects of the commercial launch of our products and the commercial launch and future sales of our products or any other future products or product candidates. The extent to which the COVID-19 pandemic and global efforts to contain its spread will impact our operations, including the ability to conduct our preclinical studies and clinical trials or rely on our third-party manufacturing and supply chain, will depend on future developments, which are highly uncertain and cannot be predicted at this time, and include the duration, severity and scope of the pandemic and the actions taken to contain or treat the COVID-19 pandemic.

By their nature, forward-looking statements involve risks and uncertainties because they relate to events, competitive dynamics, and healthcare, regulatory and scientific developments and depend on the economic circumstances that may or may not occur in the future or may occur on longer or shorter timelines than anticipated or not at all. Although we believe that we have a reasonable basis for each forward-looking statement contained in this presentation, we caution you that forward-looking statements are not guarantees of future performance and that our actual results of operations, financial condition and liquidity, and the development of the industry in which we operate may differ materially from the forward looking statements contained in this presentation.

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Nitric Oxide: A Simple, Yet Complex Molecule

We are the Nitric Oxide Company

• Nitric Oxide (NO) is the combination of nitrogen and oxygen in a specific manner
• NO is a free radical gas that the human body synthesizes from L-arginine via the enzyme nitric oxide synthase (NOS)
• Modulation of NO in the human body can have significant benefits
• Endogenous and exogenous NO are 100% structurally identical and physiologically indistinguishable in the human body
• In nature a lightning strike forms NO

Nitric oxide synthase (NOS) exists in 3 isoforms in the

human body and has multiple functions.

	Type		Location	Mechanism	Therapeutic Target
	Endothelial		Vascular	Vasodilation	Hypoxic respiratory
		Vasoprotection
	(eNOS)		endothelial	failure: Right ventricular
		Atherosclerosis
			cells	dysfunction
			prevention
				Non-specific immune
	Inducible			defense	Respiratory infection;
		Macrophages	Mediation of
	(iNOS)		Solid tumors
			inflammation
				Septic shock
	Neuronal		Neuronal	Neuronal function	Autism
	(nNOS)		tissue

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Our Mission: Harness the Power of Nitric Oxide

We are developing the ability to transition between the ICU, whole hospital and the untapped home market

Beyond Air's robust active pipeline of products targets the following conditions:

• Hypoxic respiratory failure  Right ventricular dysfunction

 Respiratory infection

 Cancer

 Autism spectrum disorder

Beyond Air Is The World's Leading Nitric Oxide Company

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Nasdaq Listed: XAIR

Headquarters: Garden City, NY

Introducing the LungFit PH with our Patented

Ionizer Technology

The LungFit® PH is the first and only FDA approved system with patented Ionizer technology that

generates nitric oxide using room air, enabling the delivery of unlimited, on-demandnitric oxide
regardless of dose or flow.	Oxygen
	60 Watts	Nitric Oxide

NO2 Smart

Filter

		Nitrogen	Electrode	Nitrogen
	Main and Backup Ionizers	For illustrative purposes.		Dioxide
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Innovative LungFit® Platform Elicits Paradigm

Shift for Nitric Oxide Therapy

Our revolutionary LungFit® technology	The LungFit® Systems are designed
platform generates nitric oxide (NO)
by the same inventors who developed
on-demand from ambient air and
the first nitric oxide delivery system
safely delivers it to patients to treat a
and other systems in use worldwide
variety of lung diseases

	Hospital Setting	Hospital NICU Setting		At-Home Treatment
High concentration nitric oxide to treat viral	Low concentration nitric oxide for the	High concentration nitric oxide for the
community acquired pneumonia (including	treatment of term and near-term neonates	treatment of NTM and lung infections in
COVID-19) and bronchiolitis+	with hypoxic respiratory failure*	patients with underlying COPD+

6 >+Caution: LungFit< ® PRO and LungFit® GO are≤investigational devices, limited by federal (or United States) law to investigational use. High concentration iNO is defined as 80 ppm to 400 ppm. Low concentration is 80 ppm.*Commonly referred to as persistent pulmonary hypertension of the newborn or PPHN.

Robust, Active LungFit® Pipeline

Device Therapeutic Area

Preclinical

Pilot

Pivotal

PMA

Commercial

Next Milestone*

Partners1

Hospital NICU Setting
Low-concentration iNO (		80
ppm) for pulmonary	treatments
	≤

Hospital Setting High-concentration iNO (150 to 400 ppm) for antimicrobial treatments

At-Home Treatment High-concentrationiNO (80 to 400 ppm) for antimicrobial treatments

Persistent pulmonary hypertension of the newborn (PPHN)

Cardiac surgery

Viral Community- Acquired Pneumonia (VCAP) including COVID-19; Bronchiolitis

Nontuberculous mycobacteria

(NTM) lung infection; Severe exacerbations due to lung infections in COPD patients

US FDA approved CE Mark - 1H 2024

PMA approval 2H 2024

US VCAP pilot study ongoing with pivotal study planned for 2025/2026 winter

Discuss pivotal trial design w/ FDA in 2024

COPD pilot TBD based on strategic priorities

1. All dates are calendar year, and based on projections and appropriate financing, anticipated first launch on a global basis pending appropriate regulatory approvals

1. Getz Healthcare is our commercial partner in 10 Asian countries (not including Japan) and is recognized as the leading distributor of medical equipment, devices, and consumables, in Asia Pacific The Cystic Fibrosis Foundation provided us with a grant of up to $2.17 million to help fund the completed trial of LungFit GO to treat NTM pulmonary disease in Australia

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Drug NO Candidates

Drug Therapeutic Area

Preclinical

Ph 1

Ph 2

Ph 3

NDA

Commercial

Next Milestone(*)

nNOS Inhibitor

Autism spectrum disorder (ASD)

First-in-human data

anticipated in 2025

(neuronal nitric oxide

Other nNOS related neurological

synthase inhibitor)

disorders

Ultrahigh concentration NO >10,000 ppm to treat multiple types of solid tumors.

For more information, visit beyondcancer.com

Drug Therapeutic Area

Preclinical

Ph 1

Ph 2

Commercial

Next Milestone(*)

Monotherapy

Ph 3

NDA

UNO

Cutaneous/ near cutaneous

Phase 1a full dataset mid 2024

tumors

UNO

Multiple solid tumors

Combination Therapy

UNO + anti-PD-1

Multiple solid tumors

UNO + anti-CTLA-4

Multiple solid tumors

8 (*) All dates are calendar year, and based on projections and appropriate financing, anticipated first launch on a global basis pending appropriate regulatory approvals

Large Market Opportunities

PPHN Opportunity:	Annual Viral Pneumonia	Annual Bronchiolitis	Total Refractory NTM
Hospitalizations:	Hospitalizations:	Patient Populations:
7.5k cases in US1	350k US2	120K US4	15K US6
4k EU57
ex-US Includes PPHN &	16M ex-US3	3.2M ex-US4,5
Cardiac Patients			15k Japan8

>$350M

>$1.5B

>$500M

>$1B

>$700M

>$3B

>$1.2B

>$2.5B

1. Lakshminrusimha et al. Neoreviews. 2015;16(12):e680-92.​
2. NCHS, National Hospital Ambulatory Medical Care Survey, 2017. CDC.​
3. Rudan et al. WHO Child Health Epidemiology Reference Group. Bull World Health Organ. 2004 Dec;82(12):895-903.​
4. Hall et al. . N Engl J Med. 2009;360(6):588-598.​
5. UNICEF​
6. Winthrop et al. Ann Am Thorac Soc, 17 (2020), pp. 178-185​
7. Ringshausen et al. . Emerg Infect Dis. 2016;22(6):1102-1105. doi:10.3201/eid2206.151642​
8. Izumi et al. Ann Am Thorac Soc. 2019 Mar;16(3):341-347. doi: 10.1513/AnnalsATS.201806-366OC. PMID: 30339468.​
9. Jinjuvadia, Chetna et al. . COPD. 2017;14(1):72-79.​

9 10) Company Presentations and Regulatory Filings from Bristol-Myers Squibb , Merck , Roche, AstraZeneca, Pfizer, Regeneron ; Sanofi 2011-2020.

11) ​Leigh JP et al., J. Autism Dev.Disord., 2015

Programs not

using LungFit >>>

• US$ Sales Potential
• WW$ Sales Potential

Solid Tumor

Program

>$37 Billion Global

Checkpoint Inhibitor

Market in 2022 and

Growing10

The cost of caring for Americans with ASD is expected to be >$460b by 202511

Autism Spectrum

Disorder (ASD)

Financial and Patent Information

Financial Overview

TickerXAIR

	Exchange	NASDAQ
	Share Price	$1.87 (as of Feb. 9, 2024)
	Shares	36 million
	Outstanding

As of December 31, 2023

Cash, Cash

Equivalents & $31.3 million

Restricted Cash

Debt	$17.5 million

Expected quarterly burn approximately $10M

Revenue Guidance for fiscal year 2025

$12 - $16 million

>15 issued patents expiring through 2040

>10 pending patent applications, if issued, may extend expiration through 2044

Patent portfolio is strong and broad, including but not limited to…..

• The NO generator
• The breathing circuit
• NO delivery system
• NO2 filter (utility and design)
• NO concentration
• NO action in the body
• NO dosing

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