Fusion Pharmaceuticals : Corporate Presentation August 2021

Targeted Alpha Therapies

Fusion's Platform for Developing Next Generation Radiopharmaceuticals for Precision Oncology

August 2021

Copyright © 2021 Fusion Pharmaceuticals Inc. All Rights Reserved

Forward-Looking Statements and Legal Disclaimers

This presentation contains express or implied forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements that are based on our management's belief and assumptions and on information currently available to our management. Although we believe that the expectations reflected in these forward-looking statements are reasonable, these statements relate to future events or our future operational or financial performance, and involve known and unknown risks, uncertainties and other factors that may cause our actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by these forward-looking statements.

In some cases, you can identify forward-looking statements by terminology such as "may," "should," "expects," "intends," "plans," "anticipates," "believes," "estimates," "predicts," "potential," "continue," or the negative of these terms or other comparable terminology. These statements are only predictions. You should not place undue reliance on forward-looking statements because they involve known and unknown risks, uncertainties, and other facts, which are, in some cases, beyond our control and which could materially affect results. If one or more of these risks or uncertainties occur, or if our underlying assumptions prove to be incorrect, actual events or results may vary significantly from those implied or projected by the forward-looking statements. These risks and uncertainties include, but are not limited to, uncertainties inherent in the drug development process, including Fusions' programs' early stage of development, the process of designing and conducting preclinical and clinical trials, the regulatory approval processes, the timing of regulatory filings, the challenges associated with manufacturing drug products, Fusion's ability to successfully establish, protect and defend its intellectual property, risks relating to business interruptions resulting from the coronavirus (COVID-19) disease outbreak or similar public health crises and other matters that could affect the sufficiency of existing cash to fund operations. For a discussion of other risks and uncertainties, and other important factors, see the section entitled "Risk Factors" in the Company's Quarterly Report on Form 10-Q for the quarter ended March 31, 2021, as well as other risks detailed in the Company's subsequent filings with the Securities and Exchange Commission. You should read this presentation and the documents that we reference in this presentation completely and with the understanding that our actual future results may be materially different from any future results expressed or implied by these forward-looking statements. 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.

This presentation also contains estimates, projections and other information concerning our industry, our business and the markets for our product candidates. Information that is based on estimates, forecasts, projections, market research or similar methodologies is inherently subject to uncertainties and actual events or circumstances may differ materially from events and circumstances that are assumed in this information. Unless otherwise expressly stated, we obtained this industry, business, market, and other data from our own internal estimates and research as well as from reports, research, surveys, studies, and similar data prepared by market research firms and other third parties, industry, medical and general publications, government data and similar sources. While we are not aware of any misstatements regarding any third-party information presented in this presentation, their estimates, in particular, as they relate to projections, involve numerous assumptions, are subject to risks and uncertainties and are subject to change based on various factors.

Market data and industry information used throughout this presentation are based on management's knowledge of the industry and the good faith estimates of management. We also relied, to the extent available, upon management's review of independent industry surveys and publications and other publicly available information prepared by a number of third party sources. All of the market data and industry information used in this presentation involves a number of assumptions and limitations, and you are cautioned not to give undue weight to such estimates. Although we believe that these sources are reliable, we cannot guarantee the accuracy or completeness of this information, and we have not independently verified this information. While we believe the estimated market position, market opportunity and market size information included in this presentation are generally reliable, such information, which is derived in part from management's estimates and beliefs, is inherently uncertain and imprecise. No representations or warranties are made by the Company or any of its affiliates as to the accuracy of any such statements or projections. Projections, assumptions and estimates of our future performance and the future performance of the industry in which we operate are necessarily subject to a high degree of uncertainty and risk due to a variety of factors, including those described above. These and other factors could cause results to differ materially from those expressed in our estimates and beliefs and in the estimates prepared by independent parties.

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Fusion is Powered by an Experienced Executive Team

John Valliant, PhD	Eric Burak, PhD	John Crowley, CPA	Cara Ferreira, PhD	James O'Leary, MD	Maria Stahl
CEO	CSO	CFO	Chief of Staff	CMO	CLO

(Founder and CEO)

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Radiopharmaceuticals - A Validated Treatment for Cancer

Radiation kills cancer cells

External beam radiation is an effective and critically important cancer treatment method

Precision medicine era: Bring the radiation directly to cancer cells

RADIOPHARMACEUTICALS:

Significant growth in the last 5 years…

M&A	Market
~$6B	•	Lutathera
Growth	•	Xofigo
in deal value
			FUNDING	Concentrated
	radiopharmaceuticals		~$1B	on a select
>45 in clinical development
	Private & Public	few targets.

Investments

FUSION'S ADVANTAGE

Expertise and platform to create targeted alpha therapies as next generation radiopharmaceuticals:

precision medicine + proven power of alpha radiation to precisely target and kill cells in multiple cancer types

4 Copyright © 2021 Fusion Pharmaceuticals Inc. All Rights Reserved

Fusion's Radiopharmaceutical Leadership

Decades of radiochemistry/ radiopharmaceutical experience

Pioneering novel clinical trial designs & protocols

Pharma partnerships

Comprehensive manufacturing capabilities & strong supply chain

Ability to radiolabel various targeting agents

Research leveraging chemistry, biology & multiple MOAs

Proprietary Fast-Clear™ linker technology

Deep pipeline

5 Copyright © 2021 Fusion Pharmaceuticals Inc. All Rights Reserved