Poxel : Corporate Presentation - English

Corporate Presentation

January 2021

Disclaimer

Some of the statements contained in this presentation constitute forward-looking statements. Statements that are not historical facts are forward-looking statements. Forward-looking statements generally can be identified by the use of forward- looking terminology such as "may", "will", "expect", "intend", "estimate", "anticipate", "believe", "continue" or similar terminology. These statements are based on the Company's current strategy, plans, objectives, assumptions, estimates and projections. Investors should therefore not place undue reliance on those statements. The Company makes no representation, warranty or prediction that the results anticipated by such forward-looking statements will be achieved, and such forward-looking statements represent, in each case, only one of many possible scenarios and should not be viewed as the most likely or standard scenario. Forward-looking statements speak only as of the date that they are made and the Company does not undertake to update any forward-looking statements in light of new information or future events. Forward- looking statements involve inherent risks and uncertainties. The Company cautions that a number of important factors could cause actual results to differ materially from those contained in any forward-looking statement.

In the context of the COVID-19 outbreak, which was declared a pandemic by the World Health Organization (WHO) on March 12, 2020, the Company is regularly reviewing the impact of the outbreak on its business. As of the date of this presentation, and based on publicly available information, the Company has not identified the occurrence of any material negative effect on its business due to the COVID-19 pandemic that remains unresolved. However, the Company anticipates that the COVID-19 pandemic could have further material negative impact on its business operations. The worldwide impact of COVID-19 may notably affect the Company's internal organization and efficiency, particularly in countries where it operates and where confinement measures are implemented by the authorities. In addition, COVID-19 may impact market conditions and the Company's ability to seek additional funding or enter into partnerships. Particularly, delays in the supply of drug substance or drug products, in the initiation or the timing of results of preclinical and/or clinical trials, as well as delays linked to the responsiveness of regulatory authorities could occur, which could potentially have an impact on the Company's development programs and partnered programs. The Company will continue to actively monitor the situation.

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Mission and Vision

To discover, develop and commercialize innovative therapies for patients suffering from

serious chronic diseases with underlying metabolic pathophysiology

• Mid-to-latestage first-in-class pipeline: Type 2 diabetes (globally partnered) and NASH
• Pipeline expansion in chronic and rare metabolic indications

1. Internal AMPK* and D-TZD# Platforms o External Opportunities

Targeting Defects in Cellular Metabolism

acetyl CoA

METABOLICINFLAMMATION DISORDERS

(cellular energy

homeostasisTISSUE

imbalances) DEGENERATION & CELL DEATH

apoptosis, necrosis

Leveraging AMPK & D -TZD Platforms

Metabolic Component + Unmet Medical Need

• Hereditary Metabolic Disorders: e.g. adrenoleukodystrophy
• Endocrinopathies
• Renal Diseases:
  e.g. diabetic nephropathy, polycystic kidney disease, others
• Other: rare, orphan indications

*AMP activated protein kinase; # Deuterium-stabilized thiazolidinediones

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Three Mid-to-Late Stage First-in-Class Drug Candidates with Novel Mechanisms and Differentiated Strategies

Global

Partnerships

Novel Mechanisms with Platform Expansion

Proprietary Programs

Cash &

Equiv.4 EUR

41.5 million (USD 48.6

million) as of

9/30/20

Imeglimin

1(T2D)

AMPK

PXL7702Platform

PXL0653D-TZD

Platform

Other

Chronic and

Rare Leveraging

Metabolic Platforms &

Indications External

Opportunities

Anticipated first product launch in Japan in 2021 through Imeglimin partnership with Sumitomo Dainippon

Pharma

Several significant milestones over the next two years including Phase 2 results in biopsy-proven patients in NASH

Highly experienced management team; extensive metabolic R&D expertise &

track record in US, EU and Japan

Global company with presence in 3 countries (France, US and Japan); listed on Euronext Paris

1. Metavant is currently exploring options for a potential out-licensing of Imeglimin rights; Metavant intends to return Imeglimin rights to Poxel if they are unable to reach an agreement on material terms by mid-January 2021. 2. PLX770 direct AMP-kinase activator (AMPK) from platform. 3. PXL065 deuterium-stabilizedR-pioglitazone (mitochondrial pyruvate inhibitor) from D-TZD (deuterated thiazolidinediones) platform. 4 Does not include EUR 6 million PFG loan obtained in October 2020.

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