Disrupting Convention in Women's Health Through Continuous Innovation September 2023 Corporate Presentation 1 Forward-Looking Statements This Presentation contains "forward-looking statements" within the meaning of the P

Disrupting Convention in Women's Health Through Continuous Innovation September

2023 Corporate Presentation 1

Forward-Looking Statements This Presentation contains "forward-looking

statements" within the meaning of the Private Securities Litigation Reform Act of 1995 relating to our business, operations and financial conditions, including but not limited to current beliefs, expectations and assumptions regarding the

future of our business, future plans and strategies, results of clinical trials and other future conditions. Words such as, but not limited to, "anticipate", "believe", "could", "estimate", "expect", "intend", "may", "plan", "potential",

"predict", "project", "should", "will", "would" or the negative of those terms, and similar expressions that convey uncertainty of future events or outcomes, identify forward-looking statements. These forward-looking statements reflect

management's beliefs and views with respect to future events and are based on estimates and assumptions as of the date of this Presentation and are subject to risks and uncertainties. Moreover, the Company operates in a very competitive and

rapidly changing environment. New risks emerge from time to time. It is not possible for management to predict all risks, nor can the Company assess the impact of all factors on its business or the extent to which any factor, or combination

of factors, may cause actual results to differ materially from those contained in any forward-looking statements we may make. Given these uncertainties, you should not place undue reliance on these forward-looking statements. The Company

qualifies all of the forward-looking statements in this Presentation by these cautionary statements. Except as required by law, the Company undertakes no obligation to publicly update any forward-looking statements, whether as a result of new

information, future events or otherwise. Statements contained herein are made as of the date of this Presentation unless stated otherwise, and neither this Presentation, nor any sale of securities, shall under any circumstances create an

implication that the information contained herein is correct as of any time after such date or that the information will be updated or revisited to reflect information that subsequently becomes available or changes occurring after that date

hereof. Certain information contained in this Presentation relates to or is based statistical and other industry and market data obtained from independent industry publications and research, surveys and studies conducted by independent third

parties as well as the Company's own estimates. The market data used in this Presentation involves a number of assumptions and limitations, and you are cautioned not to give undue weight to such data. Industry publications and third-party

research, surveys and studies generally indicate that their information has been obtained from sources believed to be reliable, although they do not guarantee the accuracy or completeness of such information. The Company's estimates of the

patient population with the potential to benefit from treatment with any product candidates the Company may develop include several key assumptions based on its industry knowledge, industry publications and third-party research, which may be

based on a small sample size and may fail to accurately reflect the addressable patient population. While the Company believes that its internal assumptions are reasonable, no independent source has verified such assumptions. This

Presentation contains trademarks, trade names, or service marks belonging to other entities. The Company does not intend the use or display of other parties' trade names, trademarks or service marks to imply a relationship with, or

endorsement or sponsorship of, or by these other parties. 2

Femasys: At-a-Glance Who We Are Financial Information Femasys is a biomedical

company focused on meeting significant unmet needs for women worldwide with a broad portfolio of in-office, accessible solutions, including FemaSeed an FDA-cleared infertility treatment, FemBloc a lead late-clinical stage product candidate

for permanent birth control, and FDA-cleared, innovative diagnostic products. Headquarters: Suwanee, GA Nasdaq: FEMY IPO date: June 2021 Market Cap: $22.3M (as of 09/26/23) Cash: $10.7M (as of 06/30/23) 3

Investment Highlights Differentiator 4 Develop disruptive approaches for

women's health Address multi-billion-dollar global market opportunities in permanent birth control and infertility Clear reimbursement path with limited competition Improved patient care and health economics Intellectual property

portfolio with >150 patents globally Cash runway into Q2 2024 Woman-founded and led, experienced leadership team Commercial-readiness with in-house CMC and device manufacturing Global regulatory approvals, including the U.S., Japan,

and Canada Mission Foundation

Key Leadership Experienced biotechnology and medical device

professionals Brian Drumheller VP, Quality 30+ years of experience Dan Currie Chief Operating Officer 30+ years of experience Jeremy Sipos VP, Research & Development 20+ years of experience Christine Thomas SVP, Regulatory

& Clinical 20+ years of experience Terrell Pruitt VP, Manufacturing 25+ years of experience Edward Evantash, MD Chief Medical Officer 20+ years of experience Mary An Merchant, JD, PhD VP Counsel, Intellectual Property 25+ years

of experience Dov Elefant Chief Financial Officer 25+ years of experience 5 Kathy Lee-Sepsick President, CEO, Founder 25+ years of experience

FemBloc Product Candidate Research Preclinical Stage ISafety Stage

IIValidation Stage IIIPivotal Our Technologies Provide a Continuum of Care Permanent Birth Control and Ultrasound Occlusion Confirmation 6 In-office, minimally invasive solutions that share delivery platforms. Commercially Available

Products Commercially Available Products FemaSeed Treatment Intratubal Insemination FemVue Diagnostic Contrast-Generating Device FemCath Diagnostic Selective Delivery Catheter FemCerv Diagnostic Endocervical Tissue

Sampler Treatment Clinical Trial

Femasys Portfolio of Products 7 Initial Focus on Infertility Specialists +

Added Focus on Gynecologists ~1,700 (U.S.) ~40,000 (U.S.) Product U.S. Commercial Ex-US Commercial Primary Detailing Target Secondary Detailing Target FemaSeed NOW FDA CLEARED (Canada) REI GYN FemVue (Japan,

Canada, Hong Kong, UAE) REI GYN FemCath (Canada) REI GYN FemCerv (Canada) GYN GYN Onc FemBloc Est 2027 Est 2027 GYN -

Strong Global Intellectual Property Portfolio Our Patent Estate Encompasses

Utility and Design >150 patents globally Directional Delivery (dual or single) to Fallopian Tubes Biopolymer Composition for Tubal Occlusion Contrast Generating Ultrasound Visible Tissue Sampling for Cancer Detection FemBloc*,

FemaSeed, FemCath FemBloc FemVue FemCerv FemChec 8 *New U.S. patent application for FemBloc allowed with anticipated expiration in 2039 at the earliest.

FemaSeed Intratubal Artificial Insemination 9 Innovative first-line

infertility treatment designed to deliver sperm directly where conception occurs Designed to be more affordable than assisted reproduction Complementary Diagnostics FemVue and FemCath First in-office ultrasound evaluation of fallopian

tubes for infertility diagnosis Infertility Focused Portfolio FDA-Cleared in U.S. and Approved in Canada

Infertility: Unmet Need (U.S. only) >10M women struggle with

infertility1 Birth rate fell 4% in 2020 (largest single year decrease in 50 years)2 Despite advancements, there have been no new affordable options in decades. 10 https://www.cdc.gov/nchs/nsfg/key_statistics/i-keystat.htm Hamilton, et

al. (2021) Births: Provisional Data for 2020. U.S. Department of Health and Human Services Centers for Disease Control and Prevention, National Center for Health Statistics, National Vital Statistics System. Report No.

12. https://www.pewtrusts.org/en/research-and-analysis/issue-briefs/2022/12/the-long-term-decline-in-fertility-and-what-it-means-for-state-budgets 43 U.S. states have recorded lowest fertility rate in last three decades3

FemaSeed: Low Cost for Front-End of Infertility

Treatment FemaSeed $$ Traditional IUI $ IVF/ ICSI* $$$$$ Artificial Insemination Intratubal sperm delivery (into fallopian tube where conception occurs) Ovulation stimulation optional optional No egg retrieval, no

egg freezing Minimal training 11 There have been limited advancements and continuous demand for less costly options. *For couples with male infertility, treatment with IVF/ ICSI is advised given the low success rates for IUI;

CDC (2016), >90% of couples with male factor infertility use Intracytoplasmic Sperm Injection (ICSI).

FemaSeed Intratubal Insemination An innovative treatment for infertility

designed to deliver sperm directly to where conception occurs, in a woman's fallopian tube. 12 Undirected sperm delivery to cavity (IUI) is first-line treatment despite low success rates Video will open in browser window.

Summary: Study Design: prospective, multi-center, unblinded, single arm Study

Population: male factor infertility Sample Size: up to 214 subjects contributing 214 FemaSeed cycles Primary Effectiveness Endpoint: Pregnancy Rate FemaSeed Ongoing Clinical Trial for Male Infertility Factor SITE RECRUITMENT

UNDERWAY Clinical Trial(IDE Approved October 2022) 13 To Evaluate Safety and Effectiveness ~ 40-50% of infertility is due to male factor1 Sperm counts worldwide have declined by >50%2 Kumar N, et al. (2015) Trends of male factor

infertility, an important cause of infertility: A review of literature. J Hum Reprod Sci. 8(4): 191-196. doi: 10.4103/0974-1208.170370: 10.4103/0974-1208.170370. Levine H, et al. (2023) Temporal trends in sperm count: a systematic review and

meta-regression analysis of samples collected globally in the 20th and 21st centuries. Human Reproduction Update, Vol.29, No.2, pp. 157-176, 2023

The Unmet Need in Infertility: Compelling Testimonials 14 For more than 20

years, current approaches to infertility treatment have been limited during the initial stage of therapeutic care, but with the advancement of FemaSeed, we believe a next generation intrauterine procedure may have the opportunity to truly

change this traditional paradigm. - Michael Glassner, MD Founding Partner and Medical Director of Main Line Fertility & Reproductive Medicine FemaSeed Physician Testimonial FemVue Patient Testimonials Being aware that there are many

reasons why women have issues conceiving, FemVue is one easy procedure that can assist in finding out why it may have been difficult. As such, I highly recommend any woman who has tried for months or years to conceive to get the FemVue

procedure. It is a procedure that will get you immediate results for you and your doctor to discuss the next steps of making your dreams come true. After a month of completing successful medical procedures including FemVue, my husband and I

conceived our first child.

First In-office, Ultrasound Approach for Fallopian Tube Evaluation FemVue

creates saline-air contrast that travels through the fallopian tube(s) when open 15 First Intrauterine Catheter for Selective Tubal Evaluation Complimentary Diagnostics: test prior to infertility treatments, including FemaSeed Approved

in U.S., Japan, and Canada Video will open in browser window.

Diagnosis Discussion Drugs IUI IVF Infertility Addressable Market (U.S.

only) 16 Least Costly Most Costly seek evaluation & treatment (1.4M IUI) FemVue/FemCath FemaSeed $2B total 4.3M seek evaluation only Market Expansion for FemaSeed $800M total Immediate Addressable 4.8M seek evaluation &

treatment (~1M cycles/yr IUI*) >10M women struggle with infertility *Centers for Disease Control and Prevention. 2019 Assisted Reproductive Technology Fertility Clinic and National Summary Report. US Dept of Health and Human Services;

Competitive Options: Price Comparison 17 IUI Intrauterine

Insemination FemaSeed $500-$4,000 total per cycle including ultrasound monitoring, and optional ovulation drugs2 + device per cycle above IUI cost Average Total

Cost 1https://www.fertilityiq.com/iui-or-artificial-insemination/the-cost-of-iui 2Parenthood, Planned. "What Is Intrauterine Insemination (IUI)?" Planned Parenthood,

https://www.plannedparenthood.org/learn/pregnancy/fertility-treatments/what-iui. 3Ravitsky, et al. The forgotten men: rising rates of male infertility urgently require new approaches for its prevention, diagnosis and treatment. Biology of

Reproduction, 2019, 101(5), 872-874. IVF/ ICSI In vitro fertilization / intracytoplasmic sperm injection $30,000 total per cycle, including ultrasound monitoring, ovulation drugs, egg extraction and freezing3 Population If

insurance, covered under IUI codes (service, sperm washing) Insurance with positive coverage policy typically covers 3-6 cycles Required prior to IVF/ ICSI in many coverage policies Infertile Women/ Couples Seeking Treatment Subset of

Infertile (After 1-3 IUI cycles or as indicated) Intratubal Insemination Reimbursement 14/20 covered states that have fertility insurance coverage, include IVF

FemBloc Permanent Birth Control 18 First and only non-surgical, in-office,

permanent birth control option in late-stage clinical development with the potential to be the safest and most natural approach at substantially less cost than the long-standing surgical alternative Companion Diagnostics FemChec and

FemCath First in-office ultrasound diagnosis of fallopian tubes for confirmation of procedure success Contraception Focused Portfolio

Since surgical tubal ligation has been performed since the 1880's and remains

the most common option for women who want permanent birth control. Permanent Birth Control Alternatives: Unmet Need (U.S. only) >13M women no longer intend to have children >12M use non-permanent birth control, long-term 800,000

women choose surgical tubal ligation as a form of permanent birth control every year* More than 100 years of stagnant innovation for permanent birth control 19 *Frattarelli 2007

Essure is a registered trademark of Bayer Healthcare (Conceptus) and, as of

December 2018, no longer a marketed solution. FemBloc: Expected Competitive Advantages over existing or previous birth control options On-Market Solutions Off-Market FemBloc Surgical Tubal

Ligation* IUD (Reversible) Essure * Permanent Office Procedure Some No Special Capital Equipment No Anesthesia No Permanent Implant (coil/ clip) No Surgery (risks/ cost) No

Hormones One-Time Treatment Cost Multiple IUDs Worldwide Applicability Varies 20 *6% failure rate for laparoscopic sterilization (tubal ligation) and 5% failure rate for hysteroscopic sterilization (Essure),

reported in published study as higher than expected (Fertility and Sterility, 2022)

No Permanent Implant - Scar Tissue Closes Tubal Lumen FemBloc

Treatments FemBloc Permanent Birth Control in Development The first and only non-surgical, in-office approach. Balloon at tubal opening without cannulation Biopolymer is designed to be expelled within 3 months Biopolymer

solidifies 21 Video will open in browser window. Biopolymer degrades

Companion ultrasound test (FemChec and FemCath ) exclusive to FemBloc -

confirms procedure success Occlusion Confirmation FemBloc Permanent Birth Control in Development 3 Months Blockage Biopolymer degrades Saline-air contrast confirms blockage 22 Video will open in browser window.

Completed Earlier FemBloc Supportive Studies (N=321) Stage I: Safety FemBloc

Clinical Studies for Pre-Market Approval (PMA) 23 Stage III: Pivotal Clinical Trial (IDE approved June 2023; currently enrolling) FINALE Trial Design: Prospective, multi-center, open-label, single-arm study Roll-in study design to begin

with enrollment of 50 women for a clinical readout primarily of preliminary safety data prior to enrolling remaining subjects. Primary Endpoint: pregnancy rate at 1-year after FemBloc use for permanent birth control (N=401) Secondary

Endpoints: safety and various in-office assessments Safety Follow-Up: 2-5 years post-market Interim analysis planned after 300 women have used FemBloc for permanent birth control for 1-year. Selection of Confirmation Test for

Pivotal Stage II: Validation Early Clinical Long-Term Safety with No Serious AEs Reported Evaluated Delivery & Biopolymer Summary: n=45 subjects being followed for 5 years Subjects received two confirmation tests (ultrasound and

radiology) Continued safety established; no serious AEs Continued patient tolerability and physician ease of use established Summary: n=183 subjects being followed for 5 years Patients found procedures highly tolerable Physicians

found procedure to be extremely simple or very simple 99% physicians assessed easier than tubal ligation surgery Summary: n=93 subjects received planned hysterectomy Subset with histopathology demonstrating biopolymer tissue