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its estimates regarding the potential market opportunity for Zelsuvmi, its ability to develop its pipeline, its ability to protect
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new information becomes available in the future. 2
Corporate Profile Pelthos Therapeutics is a bio-pharmaceutical company committed to commercializing innovative, safe, and efficacious
therapeutic products to help patients with unmet treatment burdens Commercial launch of first drug Zelsuvmi, for the
treatment of Molluscum contagiosum ("MC") in July 2025 First and only at home treatment for a large, underserved
market treating contagious viral disease 16.7 million affected people Up to 6 million annual cases in the U.S. Total addressable
market worth in excess of $20 billion at our WAC Experienced management team with over 20 successful prior drug launches and continued
growth, including Cosentyx, Otezla, Ohtuvayre, Xifaxan Upside option on NaV pain programs from predecessor Current peak Net Revenue
forecast of $175M per annum by 2028 and currently meeting or exceeding internal milestones Key Data Points (as of 08/29/25,
except where noted) Ticker PTHS Stock Price $23.65 O/S Shares of 8.8M Common Stock (on an as converted basis)*
Market CAP ~$205M Avg. Daily 59000 shares 12,300 shares Trading Volume Cash at close of $27.5M merger Investment to
Management Team Scott Plesha | Chief Executive Officer - >30 years of experience in the pharmaceutical industry,
including two decades building and leading specialty pharma commercial efforts - President and Chief Commercial Officer at
BDSI until it was acquired by Collegium Pharmaceutical in 2022 - Grew BDSI sales from $5 million to $160 million - Previously
served as Senior Vice President of Gastrointestinal Sales at Salix Pharmaceuticals. During fifteen-year tenure at Salix, led nationwide
salesforce that grew product sales to more than $1.5 billion annually - Earned a BA in Pre-Medicine and Pre-Medical Studies
at DePauw University and pursued graduate studies in Dentistry at Indiana University Dental School Frank Knuettel | Chief Financial
Officer - 30 years of management experience in growing early-stage companies - Raised more than $400 million via
venture, public equity and debt offerings and managed more than 15 mergers and acquisition transactions along with large-scale
licensing transactions with fortune 50 companies - Holds numerous board positions, at both public and private companies,
including Etheros Pharmaceuticals - Earned an MBA from The Wharton School and a BA from Tufts University Sai Rangarao | Chief
Commercial Officer - >18 years of experience leading, launching, and marketing pharmaceutical products - VP of
Marketing & Head of Neurology Sales at Collegium Pharmaceutical - VP of Marketing & Commercial Operations at BDSI,
until it was acquired by Collegium in 2022 - Head of US Dermatology Marketing for Otezla at Celgene leading to acquisition
by Amgen for $13 Billion - Member of the commercial and marketing organization at Novartis Pharmaceuticals that launched
COSENTYX in the U.S - Earned an MS in Bioscience Regulatory Affairs from The Johns Hopkins University, an
MBA and MS from the New Jersey Institute of Technology, and a BS in Computer Science from Indiana University of Pennsylvania 4
Board of Directors Peter Greenleaf, Chairman Richard Baxter Todd Davis Ezra Friedberg Richard Malamut , MD Matt
Pauls Scott Plesha 5
Molluscum & Zelsuvmi Overview
7 Molluscum Contagiosum A highly infectious viral condition primarily affecting children 1 year of age or older There are
four known types of MC virus (MCV1, 2, 3, 4) with MCV1 being the most common1 Molluscum Contagiosum is caused by
a pox virus and is characterized by small, round, firm, umbilicated, often painless bumps. Even after healing, re-infection is
possible if in contact with an infected person or object4. ~17 million people infected in the U.S. MC can take up to five years
to resolve without treatment2 Peak incidence between 1-10 years of age. Up to 73% of children go untreated3 Point
prevalence of 3-6 million children (ages 0-16) in the U.S. Infection, Persistence, and Spread Visible and Psychological
Impacts Pain & Skin Irritation Auto- inoculation2 Highly contagious to others risk of secondary bacterial infections2
Potential worsening of atopic dermatitis Itching, redness Inflammation Anxiety Social withdrawal Untreated Molluscum Contagiosum
Has Severe Effects 1) Hebert AA, Bhatia N, Del Rosso JQ. Molluscum Contagiosum: Epidemiology, Considerations, Treatment Options,
and Therapeutic Gaps. J Clin Aesthet Dermatol. 2023 Aug;16(8 Suppl 2):S4-S11. PMID: 37636018; PMCID: PMC10453394. 2.)Ludmann P.
American Academy of Dermatology. Molluscum contagiosum. 4 October 2023. 3) Basdag H, Rainer BM, Cohen BA. Molluscum contagiosum:
to treat or not to treat? Experience with 170 children in an outpatient clinic setting in the northeastern United States. Pediatr
Dermatol. 2015;32(3):353-357. doi:10.1111/pde.12504. 4) Schaffer JV, Berger EM. Molluscum Contagiosum. JAMA Dermatol. 2016;152(9):1072.
doi:10.1001/jamadermatol.2016.2367. 5) CDC. Clinical Overview of Molluscum Contagiosum. Jan 2025
8 Zelsuvmi Has the Potential to Shift MC Treatment Paradigm Zelsuvmi Current Options Painful, destructive treatments3 Attractive
safety profile demonstrated in clinical trials with no / minimal scarring5,6 Remaining treatment options such as off-label
drugs / natural remedies have unproven efficacy4 Demonstrated, proven efficacy across key primary and secondary
endpoints in clinical trials6 Necessitates travel to HCP offices, adding to the time burden for MC patients and caregivers2
First FDA approved medication for molluscum that can be applied at home by patients or caregivers5 Other available topical
treatment requires in-office visits every 3 weeks2 Daily application that can be started immediately 58.1% Mean
MC Lesion reduction count(1) Breakthrough Product, Breakthrough Results 1.)Least-squares mean count reduction. See
Figure 9: Browning JC, Hebert A, Enloe C, Cartwright M, Maeda-Chubachi T. Berdazimer Gel 10.3% is a Clinically Meaningful Therapeutic
Intervention for Molluscum Contagiosum. Abstract and poster presented at Fall Clinical 2024. Las Vegas, NV. October 24-27, 2024.
2.) Eichenf ield LF, Kwong P, Gonzalez ME, et al. Safety and Efficacy of VP-102 (Cantharidin, 0.7% w/v) in Molluscum Contagiosum
by Body Region: Post hoc Pooled Analyses from Two Phase III Randomized Trials. J Clin Aesthet Dermatol. 2021;14(10):42-47. 3.)
Hebert AA, Bhatia N, Del Rosso JQ. Molluscum Contagiosum: Epidemiology, Considerations, Treatment Options, and Therapeutic Gaps.
J Clin Aesthet Dermatol. 2023;16(8 Suppl 1):S4-S11. 4.) Ong SK, Hoft I, Siegfried E. Analysis of over-the-counter products marketed
to treat molluscum contagiosum. Pediatr Dermatol. 2021;38(5):1400-1403. doi:10.1111/pde.14776. 5.) Zelsuvmi Package Insert. 6.)
Sugarman JL, Hebert A, Browning JC, et al. Berdazimer gel for molluscum contagiosum: An integrated analysis of 3 randomized controlled
trials. J Am Acad Dermatol. 2024;90(2):299-308. doi:10.1016/j.jaad.2023.09.066Ong
9 Intervention Population Key Study Highlights B-SIMPLE4 Primary Outcome B-SIMPLE4 Study Locations Zelsuvmi Efficacy Shown
in Phase 3 Clinical Trials Drives Commercial Launch 808 Males, 790 Females Immunocompetent children and adults aged 6
months with 3-70 raised MC lesions Mean age: 6.7 years (Range: 0.9 - 76.6 years) 1,598 participants randomized 917
- Zelsuvmi Topical, once-daily application of Zelsuvmi (berdazimer gel, 10.3%) to all active MC lesions for up to 12 weeks
681 - Vehicle Topical, once-daily application of vehicle control gel to all active MC lesions for up to 12 weeks Patients
who applied Zelsuvmi for 12 weeks achieved a mean and median reduction in lesion count of 58% and 82%, respectively, compared
to 36% and 43% for patients who applied a vehicle control gel Mean Lesion Count Reduction(1) 55 Clinics across the US 32.4%
of patients treated with Zelsuvmi achieved complete clearance of MC lesions at week 12, compared to 19.7% of patients treated
with vehicle control gel in the BSIMPLE-4 pivotal Phase 3 trial Median Lesion Count Reduction(1) Safety Application site
reactions were the most common adverse reaction associated with Zelsuvmi Common application site reactions included mild pain
and mild erythema (caused by increased blood flow) Minimal scarring incidences witnessed 1) p-value <0.0001, favoring Zelsuvmi
.. Source: Sugarman JL, Hebert A, Browning JC, Paller AS, Stripling S, Green LJ, Cartwright M, Enloe C, Wells N, Maeda-Chubachi
T. Berdazimer gel for molluscum contagiosum: An integrated analysis of 3 randomized controlled trials. J Am Acad Dermatol. 2023
Oct 5:S0190-9622(23)02890-6. doi: 10.1016/j.jaad.2023.09.066.Epub ahead of print. PMID: 37804936. 58.1% 35.7% Zelsuvmi Control
82.4% 42.6% Zelsuvmi Control
10 CONFIDENTIAL Baseline Week 2 Week 4 0.0% -1.1 % -43.5% Week 8 -35.7% Week 12 -59.4% -82.4% -42.6% -10.7% - 25 .1% -9.0%
-21 .6% - 58 .1% Baseline Week 2 Week 4 0.0% 0.0% -9.5% -10.0% -28.6% -27.8% Week 8 Week 12 Phase 3 Trial Results 1) Figure