Cerevel Therapeutics : Corporate Presentation

Transforming the Possible in Neuroscience

1Q 2021 Financial Results & Business Update

May 2021

Forward-Looking Statements

This presentation contains forward-looking statements that are based on management's beliefs and assumptions and on information currently available to management. In some cases, you can identify forward-looking statements by the following words: "may," "will," "could," "would," "should," "expect," "intend," "plan," "anticipate," "believe," "estimate," "predict," "project," "potential," "continue," "ongoing" or the negative of these terms or other comparable terminology, although not all forward-looking statements contain these words. These statements involve risks, uncertainties and other factors that may cause actual results, levels of activity, performance or achievements to be materially different from the information expressed or implied by these forward-looking statements. Although we believe that we have a reasonable basis for each forward- looking statement contained in this presentation, we caution you that these statements are based on a combination of facts and factors currently known by us and our projections of the future, about which we cannot be certain.

Forward-looking statements in this presentation include, but are not limited to: statements about the potential attributes and benefits of our product candidates, including with respect to receptor subtype selectivity, activity, side effect and tolerability profile and relevant indications; the format and timing of our product development activities and clinical trials, including the design of clinical trials and the timing of initiation, completion and data readouts for clinical trials; the timing and outcome of IND submissions and other regulatory interactions; the ability to compete with other companies currently marketing or engaged in the development of treatments for relevant indications; the size and growth potential of the markets for product candidates and ability to serve those markets; the rate and degree of market acceptance of product candidates, if approved; the potential effects of the business combination; the amount and timing of payments we may receive pursuant to the tavapadon financing transaction; the sufficiency of our financial resources, including to fund the tavapadon Phase 3 development program through NDA submission and to allocate capital to earlier stage assets; and our cash runway.

We cannot assure you that the forward-looking statements in this presentation will prove to be accurate. Furthermore, if the forward-looking statements prove to be inaccurate, the inaccuracy may be material. Actual performance and results may differ materially from those projected or suggested in the forward-looking statements due to various risks and uncertainties, including, among others: that we may not realize the expected benefits of the financing transaction; that clinical trial results may not be favorable; uncertainties inherent in the product development process (including with respect to the timing of results and whether such results will be predictive of future results); the impact of COVID-19 on the timing, progress and results of ongoing or planned clinical trials; other impacts of COVID-19, including operational disruptions or delays or to our ability to raise additional capital; whether and when, if at all, our product candidates will receive approval from the FDA or other regulatory authorities, and for which, if any, indications; competition from other biotechnology companies; uncertainties regarding intellectual property protection; and other risks identified in our SEC filings, including those under the heading "Risk Factors" in our Annual Report on Form 10-K filed with the SEC on March 24, 2021 and our subsequent SEC filings.

In light of the significant uncertainties in these forward-looking statements, you should not regard these statements as a representation or warranty by us or any other person that we will achieve our objectives and plans in any specified time frame, or at all. The forward-looking statements in this presentation represent our views as of the date of this presentation. We anticipate that subsequent events and developments will cause our views to change. However, while we may elect to update these forward-looking statements at some point in the future, we have no current intention of doing so except to the extent required by applicable law. You should, therefore, not rely on these forward-looking statements as representing our views as of any date subsequent to the date of this presentation.

© Cerevel Therapeutics Holdings, Inc.	2

Agenda

Introduction

Overview

Matthew Calistri

Vice President, Investor Relations

Tony Coles, M.D.

Chairperson & Chief Executive Officer

Lead Program Updates

Raymond Sanchez, M.D.

Chief Medical Officer

Early Pipeline Updates

John Renger, Ph.D.

Chief Scientific Officer

Q1 Financial Performance

Kathy Yi

Chief Financial Officer

Q&A

All

© Cerevel Therapeutics Holdings, Inc.	3

Business Updates

Pipeline

People

Capital

• Phase 1b for CVL-231 in schizophrenia - on track for mid-yeardata readout
• Darigabat Phase 1 acute anxiety data expected 4Q 2021
• Screening in Phase 2a trial in dementia-related apathy for CVL-871to begin in next few weeks
• Received notice of award for NIDA cooperative grant funding for CVL-936 (D3 Antagonist)
• Welcomed Abraham Ceesay as President
• Appointed Scott Akamine as Chief Legal Officer beginning May 24th
• Announced $125 million tavapadon financing
• Cash balance of $343 million* as of 3/31/2021
• Cash runway now projected into 2024

*Does not include first payment of $31 million from tavapadon financing, received April 2021	© Cerevel Therapeutics Holdings, Inc.	4

Company Highlights

✓	Pursuing a targeted approach to neuroscience that combines a differentiated
CNSunderstandingdiseases	of neurocircuitry with advanced chemistry to develop novel therapies for

• Broad portfolio of 11 assets targeting large markets with significant unmet need, including schizophrenia, epilepsy and Parkinson's Disease
• Progressing towards multiple near and medium-term catalysts, with up to 8 data readouts and multiple INDs expected by the end of 2023
• Leveraging a seasoned management team with extensive expertise in neuroscience and a strong track record of over 20 prior drug approvals and commercialization

© Cerevel Therapeutics Holdings, Inc.	5