Disc Medicine Opco : Erythropoietic Protoporphyria (EPP) and Bitopertin Presentation

Erythropoietic Protoporphyria (EPP) and Bitopertin

April 25, 2023

Disclaimer and FLS

This presentation includes "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995, as amended. These forward-looking statements include express or implied statements relating to Disc's management team's expectations, hopes, beliefs, intentions or strategies regarding the future. In addition, any statements that refer to projections, forecasts or other characterizations of future events or circumstances, including any underlying assumptions, are forward-looking statements. The words "anticipate," "believe," "contemplate," "continue," "could," "estimate," "expect," "intends," "may," "might," "plan," "possible," "potential," "predict," "project," "should," "will," "would" and similar expressions may identify forward- looking statements, but the absence of these words does not mean that a statement is not forward-looking.Forward-looking statements are neither historical facts nor assurances of future performance. Instead, they are based on Disc's current beliefs, expectations and assumptions regarding the future of Disc's business, future plans and strategies, clinical results and other future conditions. New risks and uncertainties may emerge from time to time, and it is not possible to predict all risks and uncertainties. No representations or warranties (expressed or implied) are made about the accuracy of any such forward-looking statements.

Disc may not actually achieve the plans, intentions or expectations disclosed in these forward-looking statements, and investors should not place undue reliance on these forward-looking statements. These forward-looking statements involve a number of risks, uncertainties (some of which are beyond Disc's control) or other assumptions that may cause actual results or performance to be materially different from those expressed or implied by these forward-looking statements. These risks and uncertainties include, but are not limited to: the adequacy of Disc's capital to support its future operations and its ability to successfully initiate and complete clinical trials; the nature, strategy and focus of Disc; the difficulty in predicting the time and cost of development of Disc's product candidates; Disc's plans to research, develop and commercialize its current and future product candidates; the timing of initiation of Disc's planned preclinical studies and clinical trials; the timing of the availability of data from Disc's clinical trials; Disc's ability to identify additional product candidates with significant commercial potential and to expand its pipeline in hematological diseases; the timing and anticipated results of Disc's preclinical studies and clinical trials and the risk that the results of Disc's preclinical studies and clinical trials may not be predictive of future results in connection with future studies or clinical trials and may not support further development and marketing approval; the other risks and uncertainties described in the "Risk Factors" section of the Annual Report on Form 10-K filed with the SEC on March 31, 2023, and other documents filed by Disc from time to time with the SEC, as well as discussions of potential risks, uncertainties, and other important factors in Disc's subsequent filings with the Securities and Exchange Commission. Any forward-looking statement speaks only as of the date on which it was made. None of Disc, nor its affiliates, advisors or representatives, undertake any obligation to publicly update or revise any forwardlooking statement, whether as result of new information, future events or otherwise, except as required by law.

Confidential

Agenda

01	Welcome and Introduction
John Quisel, J.D., PhD, CEO
02	EPP Disease Background and Pathophysiology
Bruce Wang, M.D., Professor of Gastroenterology, University of California San Francisco
03	EPP Patient Experience and Unmet Need
Jean-Charles Deybach, M.D., PhD, Professor of Medicine, Paris Diderot University
04	Bitopertin Overview and Development Plan
Will Savage, M.D., CMO

05 Q&A Session

Confidential

Disc is Building a Leading Company Dedicated to Treating Hematologic Diseases

Focus on

Hematologic

Disorders

Immense medical need

across a wide spectrum of

disorders

Predictive, objective

endpoints

Fundamental

• Validated Pathways

Fundamental to red blood cell biology: iron and heme

Clinical and genetic evidence of target mechanism in humans

Multiple

Clinical

Programs with Broad Potential

Bitopertin in Phase 2

DISC-0974 in Phase 1b/2

MWTX-003 is Phase 1-

Ready

Multiple

Near-Term

Catalysts

Data expected 2023:

Bitopertin in EPP

DISC-0974 in MF and NDD-

CKD

Initiate Ph 1 MWTX-003

EPP (Erythropoietic Protoporphyria); XLP (X-linked Protoporphyria); MF (myelofibrosis); NDD (non-dialysis dependent);CKD (chronic kidney disease)

Confidential

Targeting Fundamental Pathways that Impact the Biology of Red Blood Cells

Iron and heme	Critical points of
formation play a	intervention across
central role in	multiple hematologic
erythropoiesis	diseases

Wide Spectrum of Hematologic Diseases Addressable by Disc Portfolio

	Severe Rare (000s)			Moderate Prevalence (100K+)		Widely Prevalent (MMs)
Diamond-Blackfan	Erythropoietic	Beta-	Anemia of	Myelodysplastic	Sickle Cell	Polycythemia	Hereditary	IBD	CKD
Anemia	Porphyrias	Thalassemia	Myelofibrosis	Syndromes	Disease	Vera	Hemochromatosis	Anemia	Anemia

Confidential