Geron : HC Wainwright Healthcare Conference

HC Wainwright Healthcare Conference

John A. Scarlett, MD

Chairman & CEO September 13, 2021

Forward-Looking Statements

Except for the historical information contained herein, this presentation contains forward-looking statements made pursuant to the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. Investors are cautioned that such statements, include, without limitation, those regarding: (i) that Geron expects IMerge Phase 3 to be fully enrolled in the fourth quarter of 2021; (ii) that Geron expects top-line results for IMerge Phase 3 to be available in the first quarter of 2023; (iii) that Geron expects to conduct an interim analysis for IMpactMF in 2024 and a final analysis in 2025; (iv) that Geron expects its financial resources, with the projected funding under the current debt facility, to fund operations through the end of the first quarter of 2023; (v) that Geron expects to have intellectual property/market exclusivity through 2033; (vi) that Geron plans to engage over 180 sites for IMpactMF; (vii) that IMerge Phase 3 and IMpactMF have registrational intent; (viii) that imetelstat has the potential to demonstrate disease-modifying activity in patients and to target the malignant stem and progenitor cells of the underlying disease; (ix) that Geron expects imetelstat to be a highly differentiated product in the LR MDS commercial marketplace; (x) that Geron projects the addressable patients in 2030 for imetelstat in LR MDS are ~32,000 and for Int-2/HR MF are ~18,000; (xi) that the potential US/EU peak revenue for imetelstat in LR MDS is projected to be $1.2 billion and in Int-2/HR MF is $1.8 billion; and (xii) other statements that are not historical facts, constitute forward-looking statements. These forward-looking statements involve risks and uncertainties that can cause actual results to differ materially from those in such forward-looking statements. These risks and uncertainties, include, without limitation, risks and uncertainties related to: (a) whether the current or evolving effects of the COVID-19 pandemic and resulting global economic and financial disruptions will materially and adversely impact Geron's business and business prospects, its financial condition and the future of imetelstat; (b) whether Geron overcomes all of the potential delays and other adverse impacts caused by the current or evolving effects of the COVID-19 pandemic, and overcomes all the enrollment, clinical, safety, efficacy, technical, scientific, intellectual property, manufacturing and regulatory challenges in order to have the financial resources for, and to meet the expected timelines and planned milestones in, (i) through (iv) and (vi) above; (c) whether regulatory authorities permit the further development of imetelstat on a timely basis, or at all, without any clinical holds; (d) whether imetelstat is demonstrated to be safe and efficacious in IMerge Phase 3 and IMpactMF to enable regulatory approval; (e) whether any future efficacy or safety results may cause the benefit-risk profile of imetelstat to become unacceptable; (f) whether imetelstat actually demonstrates disease-modifying activity in patients and the ability to target the malignant stem and progenitor cells of the underlying disease; (g) that Geron may seek to raise substantial capital in order to complete the development and commercialization of imetelstat, including to meet all of the expected timelines and planned milestones in (i) through (iv) and (vi) above; (h) whether regulatory authorities require an additional clinical trial for approval even if IMerge Phase 3 or IMpactMF meet their respective primary endpoints; (i) whether there are failures or delays in manufacturing or supplying sufficient quantities of imetelstat or other clinical trial materials in a timely manner; (j) whether imetelstat is able to maintain patent protection and have freedom to operate;

(k) whether the follow-up period of 12 months for the IMerge Phase 3 primary analysis results in not obtaining adequate data to demonstrate safety and efficacy, including transfusion independence, in the primary analysis; (l) whether Geron can accurately project the timing of, or attain complete enrollment in IMerge Phase 3 or IMpactMF, whether due to the current or evolving effects of the COVID-19 pandemic or otherwise; (m) whether Geron is able to enroll IMerge Phase 3 and IMpactMF at a pace that would enable the financial resources for, and to meet the expected timelines and planned milestones in, (i) through (iv) and (vi) above; and

(n) that Geron may be unable to successfully commercialize imetelstat to achieve the peak revenues in (xi) above due to competitive products, or otherwise. Additional information on the above risks and uncertainties and additional risks, uncertainties and factors that could cause actual results to differ materially from those in the forward-looking statements are contained in Geron's filings and periodic reports filed with the Securities and Exchange Commission under the heading "Risk Factors" and elsewhere in such filings and reports, including Geron's quarterly report on Form 10-Q for the quarter ended June 30, 2021 and future filings and reports by Geron. Undue reliance should not be placed on forward-looking statements, which speak only as of the date they are made, and the facts and assumptions underlying the forward-looking statements may change. Except as required by law, Geron disclaims any obligation to update these forward-looking statements to reflect future information, events or circumstances.

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Geron Highlights

Imetelstat

Potentially transformative

and disease-modifying

Imetelstat, a first-in-class telomerase inhibitor, discovered, developed and wholly-ownedby Geron

Satisfies key unmet need in LR MDS: durable transfusion independence

• Imetelstat offers broad, deep and durable transfusion independence

Satisfies key unmet need in MF: improved survival post-JAKi

• Imetelstat offers improvement in overall survival for these patients

Pivotal Phase 3 trials ongoing in MDS and MF

• Top-lineresults in LR MDS expected in Q1 2023
• Interim analysis in Refractory MF expected in 2024

Regulatory designations & market exclusivity

• US & EU Orphan Drug and US Fast Track designations in LR MDS and Refractory MF
• Intellectual property/market exclusivity through 2033

Market Opportunity		Highly experienced management with expertise in hematologic malignancies
>$3B peak revenue		Beginning stage-gated transition to commercial company
potential in LR MDS and		Well-funded with $239M in cash and investments
Refractory MF
		 Runway through Phase 3 LR MDS top-line results*
LR MDS: lower risk myelodysplastic syndromes; MF: myelofibrosis
	*current resources as of 6/30/21, plus projected next debt tranche, expected to fund operations through the end of Q1 2023
JAKI: janus kinase inhibitor
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References on slide 30

Myeloid Hematologic Malignancies

Upregulation of telomerase required for proliferation

of malignant stem and progenitor clones in the bone marrow

Telomerase Upregulated

abnormal		Essential Thrombocythemia (ET)
platelets

malignant stem

& progenitor

cells

malignant

clones

	abnormal red	Polycythemia Vera (PV)
ineffective	blood cells
hematopoiesis
and		Myelofibrosis (MF)
production of	fibrosis and
abnormal
abnormal blood cells
blood cells
	dysplastic blood	Myelodysplastic
	Syndromes (MDS)
	cells
	abnormal blood	Acute Myeloid Leukemia (AML)
	cells

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Imetelstat's Disease-Modifying Mechanism of Action

Selective killing of malignant clones, stem and progenitor cells

Imetelstat

killing of	killing of malignant
malignant clones	stem & progenitor cells

malignant

clones

recovery of normal red blood cells, white blood cells, platelets enabled

References on slide 30

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