VALBIOTIS : Investors presentation – April 2021

April 2021

Investors

Presentation

Disclaimer

IMPORTANT: You must read the following before continuing. In accessing this document, you agree to be bound by the following terms and conditions.

This document has been prepared by Valbiotis SA (the « Company ») and is for information purposes only. The content of this document is provisional and for information purposes only and is not to be construed as providing investment advice. The information, statements and opinions contained in this document (the "Information") are provided as of the date of this document only and may be subject to significant changes at any time without notice. Neither the Company, nor its advisors, nor any other person is under any obligation to update the Information.

Subject to applicable law, none of the Company or its advisors accepts any responsibility whatsoever and makes no representation or warranty, express or implied, as to the fairness, accuracy,completeness or correctness of the Information. The Information has not been subject to independent verification and is qualified in its entirety by the business, financial and other information that the Company is required to publish in accordance with the rules, regulations and practices applicable to companies listed on Euronext Growth Paris, including in particular the risk factors in the Company's Registration Document (Document de Base) filed with the French Financial Markets Authority (Autorité desmarchés financiers) under number I 17-012 on April 5, 2017, in any other periodic report and in any other press release, which are available free of charge on the websites of the Company (www.valbiotis.com) and/or the AMF (www.amf-france.org).

This document contains information on the use of the Company's products and its competitive position. Some of the Information is from third parties. While this third party information has been obtained from sources believed to be reliable, there is no guarantee of the accuracy or completeness of such data. In addition, certain of the industry and market data comes from the Company's own internal research and estimates based on the knowledge and experience of the Company's management. While the company believes that such research and estimates are reasonable and reliable, they, and their

underlying methodology and assumptions, have not been verified by any independent source for accuracy or completeness and are subject to change without notice. Accordingly, undue reliance should not be placed on any of the industry, market or competitive position data contained in the Information.

The Information is not directed to, or intended for distribution to or use by, any person or entity that is a citizen or resident of, or located in, any locality, state, country or other jurisdiction where such distribution or use would be contrary to law or regulation or which would require any registration or licensing within such jurisdiction.

The Information does not constitute or form part of, and should not be construed as an offer or the solicitation of an offer to subscribe for or purchase of any securities. No public offering of securities may be conducted in France prior to the delivery by the French Financial Markets Authority of a visa on a prospectus that complies with the provisions of Directive 2003/71/CE as amended. This document is for information purposes only and does not constitute an offering document or an offer of securities to the public in the United Kingdom to which section 85 of the Financial Services and Markets Act 2000 of the United Kingdom applies. Securities may not be offered or sold in the United States absent registration under the US Securities Act of 1933, as amended, or an exemption from registration thereunder.

This document contains certain forward-looking statements. All statements in this document other than statements of historical fact are or may be deemed to be forward looking statements. These statements are not guarantees of the Company's future performance. These forward-looking statements relate without limitation to the Company's future prospects, developments, marketing strategy regulatory calendar, clinical milestones, assumptions and hypothesis, clinical development approach and financial requirements and are based on analyses of earnings forecasts and estimates of amounts not yet determinable and other financial and non-financial information. Forward-looking statements are subject to a variety of risks and uncertainties as they relate to future events and are dependent on

circumstances that may or may not materialize in the future. Forward-looking statements cannot, under any circumstance, be construed as a guarantee of the Company's future performance as to strategic, regulatory, financial or other matters, and the Company's actual performance, including its financial position, results and cash flow, as well as the trends in the sector in which the Company operates, may

differ materially from those proposed or reflected in the forward-looking statements contained in this document. Even if the Company's performance, including its financial position, results, cash-flows and developments in the sector in which the Company operates were to conform to the forward-looking statements contained in this document, such results or developments cannot be construed as a reliable indication of the Company's future results or developments. The Company expressly declines any obligation to update or to confirm projections or estimates made by analysts or to make public any correction to any prospective information in order to reflect an event or circumstance that may occur after the date of this document.

Investors Presentation - © NON CONFIDENTIAL

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Summary

Introduction - Our mission

Valbiotis

• Preventing metabolic disease: our job
• An expert management
• An efficient business model with an ambitious roadmap
• R&D and manufacturing, the core of our development

TOTUM

• TOTUM•63: to reduce the risk of type 2 diabetes
• TOTUM•070: to reduce hypercholesterolemia
• TOTUM•854: to reduce blood pressure
• TOTUM•448: to reduce non-alcoholic hepatic steatosis (NAFL)

Financial information

Conclusion - Valbiotis overview

Our mission

New cases of metabolic and cardiovascular disease are on the rise in France and worldwide.

At Valbiotis, with our research and development teams, we develop nutrition healthcare products, based on a multitarget approach enabled by the use of plants and benefitting from a high level of evidence.

Our goal: reduce the impact these diseases may have on millions of at-risk individuals, worldwide.

Your health cannot wait, neither will we.

Investors Presentation - © NON CONFIDENTIAL

April 2021 - 604

Preventing metabolic disease: our job

An expert management

An efficient business model with an ambitious roadmap R&D and manufacturing, the core of our development

Investors Presentation - © NON CONFIDENTIAL

April 2021 - 605