Legal Disclosure This presentation contains forward-looking statements, all of which are qualified in their entirety by this cautionary statement. Many of the forward-looking statements contained herein can be identified

Corporate Presentation November 2022

Legal Disclosure This presentation

contains forward-looking statements, all of which are qualified in their entirety by this cautionary statement. Many of the forward-looking statements contained herein can be identified by the use of forward-looking words such as "may",

"anticipate", "believe", "could', "expect", "should", "plan", "intend", "estimate", "will", "potential" and "ongoing", among others, although not all forward-looking statements contain these identifying words. These forward-looking statements

include statements about the initiation, timing, progress, results, and cost of our research and development programs and our current and future preclinical studies and clinical trials, including statements regarding the timing of initiation and

completion of studies or trials and related preparatory work, the period during which the results of the trials will become available, and our research and development programs; our ability to successfully manufacture our drug substances and product

candidates for preclinical use, for clinical trials and on a larger scale for commercial use, if approved; the ability and willingness of our third-party strategic collaborators to continue research and development activities relating to our

development candidates and product candidates; our ability to obtain funding for our operations necessary to complete further development and commercialization of our product candidates; our ability to obtain and maintain regulatory approval of our

product candidates; the size and growth potential of the markets for our product candidates, and our ability to serve those markets; our financial performance; the effect of the COVID-19 pandemic, including mitigation efforts and economic effects,

on any of the foregoing or other aspects of our business operations, including but not limited to our preclinical studies and clinical trials and any future studies or trials; our ability to commercialize our products, if approved; and the

implementation of our business model, and strategic plans for our business and product candidates. Except as otherwise noted, these forward-looking statements speak only as of the date of this presentation, and we undertake no obligation to update

or revise any of such statements to reflect events or circumstances occurring after this presentation. Because forward-looking statements are inherently subject to risks and uncertainties, some of which cannot be predicted or quantified and some of

which are beyond our control, you should not rely on these forward-looking statements as predictions of future events. For a discussion of these and other risks and uncertainties, and other important factors, any of which could cause our actual

results to differ from those contained in the forward-looking statements, see the section entitled "Risk Factors" in our most recent annual report on Form 10-K filed with the Securities and Exchange Commission, as well as discussions of potential

risks, uncertainties, and other important factors in our other subsequent filings with the Securities and Exchange Commission. The events and circumstances reflected in our forward-looking statements may not be achieved or occur and actual results

could differ materially from those projected in the forward-looking statements. We caution you not to place undue reliance on the forward-looking statements contained in this presentation. This presentation discusses product candidates that are

under preclinical or clinical evaluation and that have not yet been approved for marketing by the U.S. Food and Drug Administration or any other regulatory authority. Until finalized in a clinical study report, clinical trial data presented herein

remain subject to adjustment as a result of clinical site audits and other review processes. No representation is made as to the safety or effectiveness of these product candidates for the use for which such product candidates are being studied.

This presentation shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to

registration or qualification under the securities laws of any such state or other jurisdiction.

Aura Biosciences Highlights Novel

Platform to Treat Cancer Developing virus-like drug conjugates (VDCs) that bind to tumor associated HSPGs and deliver a therapeutic payload Targeting ocular tumors, bladder cancer and other solid tumor indications Ocular Oncology Franchise

Multi-billion-dollar market opportunity to treat early-stage choroidal melanoma(CM) and other ocular tumors Standard of care is invasive and may lead to blindness and eye loss Demonstrated tumor control and visual acuity preservation in both IVT and

SC clinical studies in CM Advancing to Phase 3 study globally Strong Cash Position Cash, cash equivalents and marketable securities of $112m* Expected to fund operations into 2024 SC - Suprachoroidal; IVT - Intravitreal: HSPG -

heparan sulfate proteoglycans * - As of 9/30/2022

Pipeline Targeting Life-Threatening

Cancers with High Unmet Needs Program OTHER SOLID TUMORS OCULAR ONCOLOGY Preclinical Phase 1 Phase 2 Phase 3 Planned Milestones Choroidal Metastasis (Breast, lung and other cancer metastasis in the eye) Primary Choroidal Melanoma (Suprachoroidal

administration) Cancers of the Ocular Surface Non-Muscle Invasive Bladder Cancer Other HSPG*-Expressing Tumors (e.g., Cutaneous Melanoma, HNSCC) Q4 2022 - Initiate Phase 3 trial 2023 - Phase 2 efficacy (~12 mos) Q4 2022 - IND 2023

- Initiate Phase 1 trial 2024 - Phase 1 data 2023 - Phase 1 data Global Commercial Rights for All Product Candidate Indications *VDCs bind to the tumor associated glycosaminoglycans (GAG) epitopes that are part of the heparan

sulphate chain of HSPGs. Schiller et al. Viruses 2022, 14(8), 1656

Experienced Executive Team and Board

Elisabet de los Pinos, PhD Founder & Chief Executive Officer Cadmus Rich, MD Chief Medical Officer, Head of R&D Julie Feder Chief Financial Officer Mark De Rosch, PhD Chief Operating Officer 20+ average years of experience 20+ Regulatory

drug and device approvals CEO (acq AstraZeneca) CEO (acq Merck) David Johnson Board Chair

Targeted Oncology Platform - Virus-Like

Drug Conjugates (VDCs) Virus-Like Particles Conjugated to a Cytotoxic Payload Selective Binding to Tumor Associated HSPGs* Virus-Like Particle (VLP) Virus-Like Drug Conjugate (VDC) Cx Cytotoxic Drug Kines et al; International Journal of Cancer,

138;901-911, February 2016; Kines et al; Molecular Cancer Therapeutics, 17(2) February 2018; Kines et al; Cancer Immunology Research, May 2021 Potential Key Differentiation: Potency, Binding and Selectivity Potential Treatment of Multiple

Solid Tumors *VDCs bind to the tumor associated glycosaminoglycans (GAG) epitopes that are part of the heparan sulphate chain of HSPGs. Schiller et al. Viruses 2022, 14(8), 1656

Bel-sar is a VDC with a Novel Dual

Mechanism of Action Light Activatable Drug Bel-sar Bel-sar is a novel VDC that consists of VLP conjugated to ~200 molecules of light activatable drug Potential Key Differentiation: Agnostic to Genetic Mutations, Less Susceptible to Resistance

Mechanisms, Long Term Anti-tumor Immunity Kines et al; Cancer Immunology Research, May 2021 Bel-sar - Belzupacap Sarotalocan; HSPGs - heparan sulfate proteoglycans VDCs bind to the tumor associated glycosaminoglycans (GAG) epitopes

that are part of the heparan sulphate chain of HSPGs. Schiller et al. Viruses 2022, 14(8), 1656

Ocular Oncology Franchise Bel-sar INN:

belzupacap sarotalocan Target Indications: Early-Stage Choroidal Melanoma Choroidal Metastasis Other Ocular Cancers

Choroidal Melanoma - High Unmet

Medical Need with No Drugs Approved Choroidal Melanoma is a Rare and Life-Threatening Ocular Cancer Kaliki et al; Eye (Lond) 2017 Feb; 31(2): 241-257; Clearview & Putnam & Assoc. Market Research; Source: Peddada. J Contemp

Brachytherapy. August 2019 Most common primary intraocular cancer in adults Impacts 11,000 patients in US/Europe per year ~80% patients diagnosed with early-stage disease Melanoma cells Melanocytic Lesion Benign nevus cells Standard of Care is

Radiotherapy or Enucleation Blindness, Eye Loss, and Disfiguration The choroid is the part of the uvea that is behind the retina

Current Standard of Care is Invasive

with Significant Co-Morbidities Standard of Care Often Results in Irreversible Vision Loss and Does Not Reduce Rate of Developing Metastasis Standard of Care is Radiotherapy or Enucleation

Bel-sar has the Potential to be the

First Approved Therapy in Primary Choroidal Melanoma No radioactive co-morbidities Preservation of vision Local tumor control Opportunity to treat early and reduce risk of metastases Improvement in safety and quality of life intravitreal

suprachoroidal Bel-sar is Delivered by Simple Intravitreal or Suprachoroidal Injection Goals of Treatment Light Activation with Standard Ophthalmic Laser Bel-sar - Belzupacap Sarotalocan

Ocular Oncology Franchise Represents

a Multi-Billion Dollar Commercial Opportunity Ocular Oncology Franchise total addressable market ~80% of patients are diagnosed at the early stage (indeterminate lesions (ILs) and small tumors) Current radiotherapy treatment Leaves ~70% of patients

with major irreversible vision loss within 5-10 years ~100 Ocular Oncologists in US/EU - focused call point <20 Field Based Team Intend to add small sales force to launch globally 33,500 ClearView & Putnam & Assoc. Epidemiology

Analysis Choroidal Melanoma and Choroidal Metastasis American Cancer Society- Retinoblastoma statistics Batsi et al Cornea 2003 Ocular Surface squamous neoplasia: a review Multibillion dollar market opportunity Cancers of the Ocular Surface

Retinoblastoma Choroidal Melanoma Choroidal Metastasis 11,000 patients/year 20,000 patients/year 500 patients/year 2,000 patients/year 11,000 Choroidal Melanoma patients diagnosed each year (US/EU) Choroidal Melanoma - Initial Indication

Ocular Oncology Franchise Bel-sar

INN: belzupacap sarotalocan Initial Target Indication: Early-Stage Choroidal Melanoma Clinical program

Goal for Bel-sar: Eliminate

Malignant Cells in the Choroid and Preserve Vision Response to Treatment Evaluated by Local Tumor Control Baseline Measurement 3mm 3mm 3mm Many early-stage melanomas have a small component of melanoma cells within a benign nevus Bel-sar targets

mostly the malignant cells and not the benign nevus, retina or other ocular structures (Unchanged Tumor Height) Malignant cells are replaced by fibrosis so there is a minimal reduction in size of the overall lesion after treatment Fibrotic Scar

Unaffected nevus cells Melanoma cells Benign nevus cells Post-treatment Measurement Treatment Bel-sar - Belzupacap Sarotalocan

Study Design and Clinical Endpoints

in Phase 1b/2 IVT Trial Dose escalation and expansion study with up to two cycles of therapy Evaluated safety and efficacy over 12 months Additional follow up in registry trial for 4 years to evaluate vision, tumor control and onset of metastases

Key Endpoints Aligned with Ocular Oncology Clinical Practice and FDA Endpoint Definition Threshold Methodology Tumor Thickness Growth Rate Tumor Thickness Growth over 12 Months Ultrasound Tumor Progression Growth in Tumor Height >0.5mm or >1.0

mm in Largest Basal Diameter (LBD)* Ultrasound and Digital Photography Visual Acuity Loss Long Term Loss 15 letters ETDRS-BCVA ETDRS BCVA - Early Treatment of Diabetic Retinopathy Study Best Corrected Visual Acuity *Not due to

inflammation/swelling, hemorrhage or pigmentary changes by Investigator judgement

Phase 1b/2 IVT - Key Patient

Populations and Objectives Enrichment Strategy to Enroll Subjects with Actively Growing Tumors Provides Important Insight into How Bel-sar May Perform in Phase 3 Trial Primary Objective: Safety Drug or treatment related adverse events (AEs) /

serious adverse events (SAEs) Secondary Objective: Efficacy Tumor thickness growth rate before and after treatment Local tumor control Visual acuity preservation All Patients Enrolled with Clinical Diagnosis of Choroidal Melanoma or Indeterminate

Lesions All Treated Patients Patients Treated with 2 Cycles Safety Evaluation (All Treated) Efficacy Evaluation Therapeutic Regimen (2 Cycles) Patients with Active Growth Treated with 2 Cycles n=56 n=20 Bel-sar - Belzupacap

Phase 1b/2 - Demonstrated

Favorable Safety Profile Majority of AEs Were Transient and Resolved Without Clinical Sequelae Safety Profile Supports Indication as a First Line Treatment in Early-Stage Disease *J. Contemp Brachytherapy. J. 2019 Aug; 11(4): 392-397.; Arch

Ophthalmol. 2000;118(9):1219-1228; Curr. Opin. Ophthalmol. 2019 May;30(3):206-214; Eye 2017 Feb;31(2):241-257 **High-Risk Subjects are those with tumors <3mm to fovea or optic nerve AU-011 Treatment Related AEs 15% Subjects

(n=56) Final Grade I/II Grade III Vitreous Inflammation 83.9% 7.1% Anterior Chamber Inflammation 67.9% 3.6% Increase in Intraocular Pressure 46.4% 0 Pigmentary Changes/Peritumoral 37.5% 0 Keratic Precipitates 23.2% 0 Floaters/Vitreous Opacity 19.7%

1.8% Decreased visual acuity 19.6% 1.8% Treatment Related SAEs (n=56) Vision Loss (juxtafoveal tumor, n=2) 3.6% SAE of vision loss in two subjects with tumors close to fovea due to pigmentary changes at the edge of the tumor SAEs are listed

separately in the SAE table Completed Ph 1b/2 IVT trial (AU-011-101) Adverse Event Radiotherapy* Bel-Sar Surgeries secondary to AEs (e.g., Cataracts) 40%+ ~13% Radiation Retinopathy 40%+ 0% Neovascular Glaucoma 10% 0% Dry Eye Syndrome 20% ~2%

Strabismus 2%+ 0% Retinal Detachment 1-2% ~2% Vision Loss ( 15 letters) ~70% ~21% Serious Adverse Event Radiotherapy* Bel-Sar Scleral Necrosis 0-5% 0% Enucleation/Eye Loss 10-15% 0% Vision Loss in High-Risk Subjects** ( 30 letters) ~90%

4.6%+ Cross-trial comparison of AU-011-101 and Radiotherapy +77% (43/56) of patients in Ph1b/2 IVT trial were at high risk for vision loss ; 2/43= 4.6% Bel-Sar - Belzupacap Sarotalocan

Phase 1b/2 IVT- 70% Tumor Control

Rate and Statistically Significant Growth Rate Reduction Positive Data in Two Efficacy Endpoints in Patients with Early-Stage Choroidal Melanoma Cohorts 1-9 include single dose escalation cohorts and multiple dose escalation cohorts up to 1 cycle of

treatment; Cohorts 10-12 include 2 cycles of treatment at the highest dose Lower Doses/Regimens Highest/Therapeutic Dose/ Regimen p=0.018, n=14 Tumor Control Rates at 12 months Change in Tumor Growth Rate Historical Growth Rate (mm/yr) Bel-sar

Growth Rate (mm/yr) Disease-modifying effect supports tumor is inactive and malignant cells have been targeted by bel-sar Completed Ph1b/2 IVT trial (AU-011-101) Bel-sar - Belzupacap Sarotalocan 0.555 0.072

Visual Acuity was Preserved in

Majority of Patients with IVT Administration of Bel-sar Vision was Preserved in Majority of Patients Whereas Radiotherapy Often Leads to Irreversible and Long-Term Severe Vision Loss Populations Total Patients (n) Vision Preservation Rate Failure:

Long-term loss 15 letters All Dose Cohorts All Treated Patients 56 86% (48/56) Patients with Active Growth - High Risk for Vision Loss 17 76% (13/17) Therapeutic Regimen (2 cycles) All Treated Patients 20 75% (15/20) Patients with Active

Growth 14 71% (10/14) Vision Preservation Rates Phase 1b/2 IVT Study Follow up 12 months 1 patient had loss 15 letters at Week 52 visit which recovered within 15 letters at the next visit which was ~3 weeks after standard of care (SOC); all

other post-SOC data excluded for all subjects Completed Ph1b/2 IVT trial (AU-011-101) Bel-sar Subjects Mean ( 95%CI) Change from Baseline in logMAR scores Over 2 Years rMCC Study Matched Plaque Patients Mean ( 95%CI) Change from Baseline

in logMAR Score Over 5 Years rMCC Study Retrospective Match Case Control Study (rMCC) to evaluate visual acuity outcomes of bel-sar vs radiotherapy. Matching performed by independent statistician.. 43 bel-sar patients with HRVL were matched to 150

radiotherapy patients. Bel-sar - Belzupacap Sarotalocan

Phase 2 Suprachoroidal Study

Evaluating Suprachoroidal

Administration to Determine Optimal Administration Route for Phase 3 Trial Small Tumors with Active Growth Tumor thickness 0.5 mm and 2.5 mm LBD 10 mm Active tumor growth (>0.3mm) within 2 years of screening Single Dose

Cohorts - Completed Multiple Dose Cohorts 20 g x 1 Laser 40 g x 1 Laser 40 g x 2 Lasers 40 g x 2 Lasers QWx2 40 g x 2 Lasers QWx3 Up to 3 cycles Cohort 1 (n=1) Cohort 2 (n=3*) Cohort 3 (n=2) Cohort 4 (n=3) Cohort

5 (n=3) 80 g x 2 Lasers QWx3 Up to 3 cycles Cohort 6 (n=10) ONGOING Ph2 SC Trial Design: Dose Escalation Phase *2 subjects were planned; third subject was additionally enrolled due to dose error in 1 subject ClinicalTrials.gov Identifier:

NCT04417530 suprachoroidal Goal: To Determine Safety, Optimal Dose and Therapeutic Regimen with Suprachoroidal Administration Patient Population Representative of Early-Stage Disease (IL/CM) SC - Suprachoroidal; IL - Indeterminate

Lesion; CM- Choroidal Melanoma; LBD - Largest Basal Diameter

Phase 2 SC - Interim Tumor Control

Rates Demonstrated Dose Response Tumor Progression: change from baseline in thickness 0.5mm; or in LBD 1.5mm confirmed by at least one repeat assessment 19-Aug-2022 cutoff, interim data Populations Total Patients (n) Tumor Control Rate