A final base shelf prospectus, as supplemented by a prospectus supplement, containing important information relating to the securities described in this document has been filed with the securities regulatory authorities

A final base shelf prospectus, as supplemented by a prospectus supplement, containing important information relating to the securities described in this document has been filed with the

securities regulatory authorities in each of the provinces of Canada. A copy of the final prospectus, the prospectus supplement and any amendment thereto, is required to be delivered with this document.

This document does not provide full disclosure of all material facts relating to the securities offered. Investors should

read the final prospectus, and any amendment, for disclosure of those facts, especially risk factors relating to the securities offered, before making an investment decision.

Providing Therapies for Unmet Medical Needs

Oncology & Endocrinology

Forward Looking Statement

contains forward-looking statements made pursuant to the safe harbor provisions of the U.S. Securities Litigation Reform Act of 1995. Forward-looking statements involve known and unknown risks and uncertainties, which could cause Aeterna

Zentaris actual results to differ materially from those in the forward-looking statements. Such risks and uncertainties include, among others, the availability of funds and resources to pursue R&D projects, the successful and timely

completion of clinical studies, the ability of the Company to take advantage of business opportunities in the pharmaceutical industry, uncertainties related to the regulatory process and general changes in economic conditions. Investors should

consult the Company s quarterly and annual filings with the Canadian and U.S. securities commissions for additional information on risks and uncertainties relating to the forward-looking statements. Investors are cautioned not to rely on these

forward-looking statements. The Company does not undertake to update these forward-looking statements and disclaims any obligation to update any such factors or to publicly announce the result of any revisions to any of the forward-looking

statements contained herein to reflect future results, events or developments, except if we are required to do so by a governmental authority or under applicable law.

Investment Highlights

A specialty biopharmaceutical company focused on developing and

commercializing treatments in oncology and endocrinology

High value, wholly owned, later stage product candidates

Macimorelin acetate: GH release inducer to evaluate GH deficiency in adults ( AGHD ) (FDA orphan designation) / NDA submitted

Zoptarelin doxorubicin: Endometrial cancer / Phase 3 (under SPA with FDA)

AEZS-120: Prostate cancer

Multiple product candidates for additional potential upside

Innovative technology platform supporting

Proven leadership with expertise in delivering rapid and

consistent revenue and earnings growth at various companies

Aeterna Zentaris today

Advancing our product pipeline

Aeterna Zentaris at a Glance

formed through Dec. 2002 acquisition of Zentaris, a

spin-out of Asta Medica

Late stage, specialty biopharmaceutical company, focused on oncology

Resource optimization is a priority

Germany: 70 staff (down from 120)

Addition of Chief Commercial Officer

Addition of Chief Scientific Officer

NASDAQ: AEZS, TSX: AEZ

Market cap ~$45M as at November 5, 2013

Cash on hand as of September 30, 2013: $24.8M with no debt

Expected cash position as of Dec. 31, 2013: over $24M

Seasoned Management Team with Significant Industry

Executive Title Prior Affiliation(s)

Abbott, BMS, Wyeth, Solvay,

President and CEO 30+

Serologicals and others

Jude Dinges Senior VP and CCO Merck, Novartis, Amgen 25+

Cephalon, SmithKline Beecham,

Paul Blake Senior VP and CMO 30+

Senior VP, Regulatory Chugai Pharma USA, Schering-

Nicholas J. Pelliccione 30+

and Quality Affairs Plough

Dennis Turpin Senior

VP and CFO Coopers & Lybrand 25+

Strategic Growth Plan

Work towards successful

development and commercialization

Zoptarelin doxorubicin

Addition of Chief Scientific Officer

Pursue successful in-/out-licensing opportunities

Integrated commercial activities

Leverage sales force

Addition of Chief Commercial Officer

Become a specialty biopharmaceutical commercially

Aeterna Zentaris today

Advancing our product pipeline

Pipeline Supporting Long-Term Growth

Product Candidate Discovery Preclinical Phase 1 Phase 2 Phase 3 NDA

Macimorelin acetate Inducer of GH release to evaluate AGHD

Macimorelin acetate Cancer Induced Cachexia*

Zoptarelin doxorubicin Endometrial Cancer

Zoptarelin doxorubicin Ovarian,** Breast and Prostate* Cancers

AEZS-120 Recombinant Prostate Cancer Vaccine

Ozarelix Prostate Cancer* Partnered with Spectrum, Nippon Kayaku

Perifosine Multiple Cancers* Partnered with Handok, Yakult, Hikma

AEZS-112 Multiple Cancers

Erk & PI3K Inhibitors

AEZS-137 Disorazol Z (Oncology)***

AEZS-138 LHRH Disorazol Z***

Cooperation with NCI

Compound library 120,000

* Fully sponsored through grants and/or partners ** Ovarian cancer Phase 2 completed *** Partially sponsored

through grants and/or partners

Advancing Our Lead Products

Product Indication Status Market

NDA submitted Estimated annual

AGHD evaluation Orphan Drug number of tests

Designation ~ 100,000 +

Zoptarelin Endometrial

Phase 3 (under SPA) new cases

Clinical Trial Estimated annual

AEZS-120 Application (CTA) new cases

Growth Hormone Deficiency

Growth hormone (GH) maintains proper amounts and balance of

body fat, muscle and bone

Adult Growth Hormone

Deficiency (AGHD) most commonly

results from damage to the pituitary gland

Adverse lipid profile

Reduced bone mineral density

(accelerated atherogenesis)

Altered cardiac function

Reduced quality of life