Roivant Sciences : 4Q2023 Earnings Call Presentation

Financial Results and Business Update for the Year Ended March 31, 2024

May 30, 2024

Speakers

Matthew	Richard	Frank	Eric Venker, MD,	Mayukh
Gline	Pulik	Torti, MD	PharmD	Sukhatme, MD
Chief	Chief	Vant Chair	President and	President and
Executive Officer	Financial Officer		Chief Operating	Chief Investment
			Officer	Officer

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For investor audiences only

Forward-Looking Statements

This presentation includes forward-looking statements that are subject to substantial risks and uncertainties that could cause actual results to differ materially from those expressed or implied by such statements. All statements other than statements of historical facts contained in this presentation, including statements regarding our future results of operations and financial position, business strategy, potential uses of cash and capital allocation, research and development plans, profitability, the anticipated timing, costs, design, conduct and results of our ongoing and planned preclinical studies and clinical trials for our products and product candidates, any commercial potential of our products and product candidates, and the benefits expected to be realized from Dermavant's renegotiation of its existing debt obligations, are forward-looking statements.

These forward-looking statements are based upon the current expectations and beliefs of our management as of the date of this presentation and are subject to certain risks and uncertainties that could cause actual results to differ materially from those described in the forward-looking statements. Although we believe that our plans, intentions, expectations and strategies as reflected in or suggested by those forward-looking statements are reasonable, we can give no assurance that the plans, intentions, expectations or strategies will be attained or achieved. Furthermore, actual results may differ materially from those described in the forward-looking statements. The initial or topline study results presented here for (i) brepocitinib in non-infectious uveitis and (ii) batoclimab in Graves' Disease are based on initial analyses of key efficacy and safety data and such data may not accurately reflect the complete results of those studies.

These forward-looking statements may be affected by a number of risks, uncertainties and assumptions, including, but not limited to, those risks set forth in the sections captioned "Risk Factors" and "Forward-Looking Statements" of our filings with the U.S. Securities and Exchange Commission, available at www.sec.govand investor.roivant.com. We operate in a very competitive and rapidly changing environment in which new risks emerge from time to time. These forward-looking statements are based upon the current expectations and beliefs of our management as of the date of this presentation, and are subject to certain risks and uncertainties that could cause actual results to differ materially from those described in the forward-looking statements. Except as required by applicable law, we assume no obligation to update publicly any forward-looking statements, whether as a result of new information, future events or otherwise.

This presentation includes data for brepocitinib as compared to certain other products generated from separate, independent studies and that do not come from a head-to-head analysis. Differences exist between study or trial designs and subject characteristics and caution should be exercised when comparing data across studies. Data regarding other products and product candidates is based on publicly available information.

VTAMA cream is only FDA-approved for the topical treatment of plaque psoriasis in adults but is under clinical investigation for the treatment of atopic dermatitis in adults and children aged two (2) years old and above.

Non-GAAP Financial Information

The discussions during this conference call will include certain financial measures that were not prepared in accordance with U.S. generally accepted accounting principles (GAAP). Additional information regarding non-GAAP financial measures can be found on slide 31 and in our earnings release furnished with our Current Report on Form 8-K dated May 30, 2024. Any non-GAAP financial measures presented are not, and should not be viewed as, substitutes for financial measures required by U.S. GAAP, have no standardized meaning prescribed by U.S. GAAP and may not be comparable to the calculation of similar measures of other companies.

Disclaimer

This presentation is intended for the investor community only; it is not intended to promote the product candidates referenced herein or otherwise influence healthcare prescribing decisions.

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For investor audiences only

Agenda

• Roivant in 2024
• Immunovant Updates
• Recent Brepocitinib NIU Data
• VTAMA® Psoriasis Launch and Atopic Dermatitis Program
• Upcoming Catalysts and Other Business Updates
• Financial Update
• Q&A

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For investor audiences only

2024 Will Be a Year of Expansion for Roivant

Deliver Clinical Data for Leading Anti-FcRn Franchise and Announce Development Plans for 1402

Anticipate that deeper IgG suppression may lead to greater efficacy across

multiple indications with

data from batoclimab to inform IMVT-1402 trial design

Advance Clinical	File VTAMA sNDA in	Expand Pipeline	Finalize Capital
Development In a	AD & Accelerate PsO	Through Mid-Late-	Allocation Strategy
Range of	Revenue Growth	Stage Business	Across Best Value
Underappreciated		Development	Creation
Pipeline Opportunities			Opportunities

Expect clinical trial	sNDA filed with FDA PDUFA	Bolster pipeline through	Plan to be prudent and
readouts for brepocitinib	action expected 4Q 2024;	creative, win-win deals	thoughtful; will prioritize
and namilumab to inform	accelerate PsO revenue	with partners, enabled by	optimizing shareholder
portfolio expansion	growth through script	execution track record and	base for next era of
decisions	expansion and GTN yield	strong balance sheet	Roivant growth
	accretion

All timelines reference calendar years.	5

For investor audiences only

Our Next Chapter is Anchored by Our Robust Late-Stage Pipeline

Exciting late-stage pipeline with 6 ongoing registrational trials in multi-billion dollar markets and 4-5 additional potentially registrational programs with IMVT-1402 expected by March 2025

Modality

Preclinical

Phase 1

Phase 2

Phase 3

Approved

	Psoriasis | Dermavant	Topical					►
	Atopic Dermatitis | Dermavant	Topical				sNDA Filed
	BATOCLIMAB Myasthenia Gravis | Immunovant	Biologic				►
	BATOCLIMAB Thyroid Eye Disease | Immunovant	Biologic				►
	BATOCLIMAB Chronic Inflammatory Demyelinating Polyneuropathy | Immunovant	Biologic			►
	BATOCLIMAB Graves' Disease | Immunovant	Biologic			►
	IMVT-1402 Numerous Indications | Immunovant	Biologic		►
	BREPOCITINIB Dermatomyositis | Priovant	Small Molecule				►
	BREPOCITINIB Non-Infectious Uveitis | Priovant	Small Molecule			►
	BREPOCITINIB Other Indications | Priovant	Small Molecule			►
	NAMILUMAB Sarcoidosis | Kinevant	Biologic			►
	UNDISCLOSED Undisclosed Indication	Undisclosed			►

Pipeline reflects both ongoing clinical trials and expected upcoming trials. VTAMA has only received FDA approval for psoriasis, not atopic dermatitis. Other than VTAMA in psoriasis, all drugs are investigational and subject to regulatory approval.

► Represents potentially registrational trials

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For investor audiences only

Immunovant Updates

Ongoing Progress at Immunovant Building a Leading FcRn Franchise

IMVT-1402 Development

Progress

• Held successful Type B meeting with the FDA on 1402 development
• On track to initiate 4-5 potentially registrational programs for IMVT- 1402 over this fiscal year

Portfolio Optimization		IMVT-1402 IP

• IMVT-1402 designated as lead	• Recently issued patent for IMVT-
program	1402 covering composition of
• Batoclimab efforts will be	matter, method of use, and
methods for manufacturing
optimized to inform IMVT-1402
development plans	• IP extends to June 2043 before
• Retain optionality for registration	any use of patent term extension
with batoclimab if data is
supportive

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For investor audiences only

Updates Across Broad Spectrum of Indications Where Greater IgG Reduction

May Drive Best-In-Class Efficacy

GD

MG

CIDP

TED

Detailed results from the study of batoclimab as well as an overview of the development plan of IMVT-1402 expected in the fall of 2024

Topline data from the batoclimab study is expected over this fiscal year, and Immunovant is expected to begin potentially registrational development with IMVT-1402 in the same timeframe

The batoclimab study will be run approximately two quarters longer prior to unblinding period 1 to better ensure that the data from the batoclimab trial can be used to optimize the IMVT-1402 CIDP trial design

Topline data from the potentially registrational study of batoclimab remains on track to read out in the first half of calendar year 2025, and represents a potential first-in-class opportunity

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For investor audiences only

Consistent Evidence Across Programs and Indications that Greater IgG

Reduction Leads to Greater Efficacy1

MG

TED

GD

RA ITP

Company		Evidence of Greater IgG Reductions Translating to Clinical Benefit

Patient-level scatter plot showed that greater IgG declines ➔ greater

MG-ADL improvements2,3

Greater IgG reduction across arms ➔ higher rates of anti-TSHR antibody reduction and greater clinical response rates

Greater IgG reduction across treatment cohorts ➔ higher rates of anti-TSHR autoantibody reduction and numerically higher responses for ATD dose tapering and ATD discontinuation observed

Greater IgG reduction across arms ➔ greater platelet responses4

In those patients with greater IgG reduction ➔ correlation with greater autoAb reduction ➔ correlation with greater clinical response5

1. Many of the analyses above were post-hoc and not all were statistically significant. Cross trial and post-hoc analyses are inherently limited and are presented for hypothesis generating purposes only, nevertheless	10
consistent and numerically positive increases in efficacy were observed as noted above; 2. argenx JP Morgan Healthcare Conference Presentation January 2021; 3. Momenta Vivacity-MG Interim Phase 2 Investor
Presentation, 2020; 4. IgG reduction at day 8 estimated by WebPlotDigitizer for 4mg/kg, 7mg/kg and 10mg/kg doses; 5. Janssen Research & Development, ACR poster, November 2023..MG: Myasthenia gravis, TED:	For investor audiences only
Thyroid eye disease, GD: Graves' disease, ITP: Immune thrombocytopenic purpura, RA: Rheumatoid arthritis