RVL Pharmaceuticals : Corporate Presentation May 2023

RVL Pharmaceuticals plc

Corporate Presentation

May 11th, 2023

1

Forward-Looking Statements

This presentation contains forward‐looking statements. You should not rely upon forward‐looking statements as predictions of future events. These forward-looking statements generally can be identified by the use of words such as "anticipate," "expect," "plan," "could," "may," "will," "believe," "estimate," "forecast," "goal," "project," and other words of similar meaning. These forward-looking statements address various matters including information concerning our commercial development of Upneeq; information concerning the commercial opportunity for Upneeq, including our ability to build an addressable patient audience for Upneeq, our ability to reach this patient audience through RVL Pharmacy, the rollout of our subscription-enabling technology, and our estimates regarding the proportion of the U.S. patient population that self identifies as having droopy eyelid or would otherwise purchase Upneeq; our beliefs regarding the market opportunity for Upneeq; estimates regarding the likelihood that eye care providers would recommend Upneeq to patients; information concerning our commercial strategy for Upneeq, including planned enhancements to our sales and marketing efforts, our expectations to reach positive cash flows, and our expansion into medical aesthetics and planned consumer outreach. Each forward-looking statement contained in this presentation is subject to risks and uncertainties that could cause actual results to differ materially from those expressed or implied by such statement. Applicable risks and uncertainties include, among others: that our estimates regarding the commercial opportunity including telemedicine and addressable patient audience for Upneeq are

RVL Eye Care

inaccurate; that the intended effects of Upneeq are not experienced by patients or consumers; that we are unable to realize our planned sales and marketing enhancements in order execute on our commercial strategy for Upneeq, as well as the other factors that are described in the "Risk

$20M - $30M

Factors" section of our Annual Report on Form 10-K filed with the Securities and Exchange Commission (SEC) on March 20, 2023, and in our other filings with the SEC.

We caution investors not to place considerable reliance on the forward-looking statements contained in this presentation. You are encouraged to read our filings with the SEC, available at www.sec.gov, for a discussion of these and other risks and uncertainties. The forward-looking statements in this presentation speak only as of the date of this document, and we undertake no obligation to update or revise any of these statements. Our business is subject to substantial risks and uncertainties, including those referenced above. Investors, potential investors, and others should give careful consideration to these risks and uncertainties.

2

RVL Pharmaceuticals Overview

An ocular aesthetics company dedicated to Upneeq®, the first and only FDA- approved treatment for low-lying eyelid(s) ("acquired ptosis") in adults

RVL Eye Care	RVL Aesthetics
			Manufacturing
			Partnership
		Operational 3Q20
Launched 3Q20	Launched 1Q22
July 2020		Owned and integrated	State-of-the art blow-fill-
Commercial platform dedicated to sales & marketing of Upneeq
across eye care, medical aesthetics, and consumer channels with	pharmacy fulfillment elevating	seal manufacturing facility
flexibility to support additional growth assets downstream	the patient and provider Rx	Exclusive US supply
		experience
			partnership

Global

Partnership

Exclusive commercial rights to Upneeq® in Japan, China, EMEA

Remaining milestone

payments of up to $31mm and sales-based royalties

3

RVL Pharmaceuticals Overview

An ocular aesthetics company dedicated to Upneeq®, the first and only FDA- approved treatment for low-lying eyelid(s) ("acquired ptosis") in adults

• Ocular aesthetics company purpose-built to optimize Upneeq's commercial potential across medical aesthetics and eye care channels

2	Upneeq is the first and onlyFDA-approved eye drop for low-lying eyelid(s) ("acquired ptosis"), a common condition affecting millions of adults in
the US alone with a major unmet need

• Foundational eye care footprint bridges to a ~$2 billion US aesthetics market opportunity with global potential through Santen partnership

• Integrated multi-channel business model serves as a unique, and leverageable platform, for future growth opportunities

• Strong US IP estate protecting Upneeq with patents extending to 2039

4

Financial Performance Update - Executing on Business Strategy

Upneeq Net Product Sales ($000's)

• 2022 net product sales of $34.2M, an increase of 356%

$40,000

$35,000

$30,000

$25,000

$20,000

$34.2M

	year-over-year
•	1Q23 sales of $8.8M, an increase of 49% over 1Q22
•	Op leverage with 32%, or ~$8M, reduction in total

$15,000
$10,000		$7.5M
$5,000	$0.5M
$-
2020	2021	2022

Cumulative Upneeq HCP Customers (@ period end)

Pharmacy Prescribers

Eye Care Purchasing Prescribers

Medical Aesthetics Purchasing Locations

30,000

25,000

20,000

15,000

10,000

5,000

-

2020

2021

2022

5

operating expenses from 1Q22

• Expanded national launch of Upneeq into the medical

aesthetics channel completing first full year in Feb23

• • A dedicated sales force activated ~4,800 cumulative purchasing locations opened through 1Q23
  • Majority of aesthetic orders, or 54%, represented reorders in 1Q23
• Total eye care prescriber base continues to grow despite the absence of personal promotion
• • The paid pharmacy prescriber base increased 8% to ~19,900 from 4Q22 through 1Q23