Shattuck Labs : Corporate Presentation, January 9, 2023

Corporate Overview

NASDAQ: STTK

January 9, 2023

Forward-Looking Statements

This presentation contains "forward-looking statements" within the meaning of the federal securities laws, which statements are subject to substantial risks and uncertainties and are based on our estimates and assumptions. All statements, other than statements of historical facts included in this presentation, including statements concerning our plans, objectives, goals, strategies, future events, plans or intentions relating to products and markets, the safety, efficacy and clinical benefits of our product candidates, the anticipated timing and design of our planned and ongoing preclinical studies and clinical trials, including initiation of additional cohorts, the anticipated timing for data, the association of preclinical data with potential clinical benefit, the timing of anticipated milestones, plans and objectives of management for future operations and future results of anticipated product development efforts, the timing of expected announcements, potential addressable market size and our liquidity and capital resources and business trends are all forward-looking statements. In some cases, you can identify forward-looking statements by terms such as "may," "might," "will," "objective," "intend," "should," "could," "can," "would," "expect,"

"believe," "design," "estimate," "predict," "potential," "plan," or the negative of these terms, and similar expressions intended to identify forward-looking statements. These statements

involve known and unknown risks, uncertainties and other factors that could cause our actual results to differ materially from the forward-looking statements expressed or implied in this presentation, in addition to those risks and uncertainties, such as the effects from the COVID-19 pandemic on our clinical trial activities, the uncertainties inherent in the clinical drug development process, such as the regulatory approval process, the timing of our regulatory filings, the potential for substantial delays, and the risk that earlier study results may not be predictive of future study results, manufacturing risks, and competition from other therapies or products, described in "Risk Factors" and "Management's Discussion and Analysis of Financial Condition and Results of Operations" in our Annual Report on Form 10-K (File No. 001-39593) for the fiscal year ended December 31, 2021 and elsewhere in such filing and in our other periodic reports and subsequent disclosure documents filed with the U.S. Securities and Exchange Commission.

We cannot assure you that we will realize the results, benefits or developments that we expect or anticipate or, even if substantially realized, that they will result in the consequences or affect us or our business in the way expected. Forward-looking statements are not historical facts, and reflect our current views with respect to future events. Given the significant uncertainties, you should evaluate all forward-looking statements made in this presentation in the context of these risks and uncertainties and not place undue reliance on these forward-looking statements as predictions of future events. All forward-looking statements in this presentation apply only as of the date made and are expressly qualified in their entirety by the cautionary statements included in this presentation. We have no intention to publicly update or revise any forward-looking statements to reflect subsequent events or circumstances, except as required by law.

We obtained the data used throughout this presentation from our own internal estimates and research, as well as from research, surveys and studies conducted by third parties. Internal estimates are derived from publicly available information released and our own internal research and experience, and are based on assumptions made by us based on such data and our knowledge, which we believe to be reasonable. In addition, while we believe the data included in this presentation is reliable and based on reasonable assumptions, we have not independently verified any third-party information, and all such data involve risks and uncertainties and are subject to change based on various factors.

This presentation concerns a discussion of investigational drugs that are under preclinical and/or clinical investigation and which have not yet been approved for marketing by the U.S. Food and Drug Administration. They are currently limited by Federal law to investigational use, and no representations are made as to their safety or effectiveness for the purposes for which they are being investigated.

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Shattuck Labs

Focused on Improving the Lives of Patients

OUR PURPOSE

Pioneering Novel Therapeutics for Cancer and Autoimmune Diseases

OUR VALUES

Bold, Respectful, Honest, Balanced, Grateful

OUR MISSION

Work with a sense of urgency, focused on scientific excellence and thoughtful stewardship of resources, to translate innovative ideas into medicines that improve the lives of patients with serious diseases

OUR VISION

Build incredible medicines off the beaten path by challenging ourselves to think differently

Shattuck Labs Overview

Shattuck Labs (NASDAQ: STTK)

Agonist Redirected Checkpoint (ARC) Platform

Gamma Delta () T Cell Engager (GADLEN) Platform

ARC Clinical Pipeline Against Validated Oncology Targets

Experienced Team and Strong Cash Position

Clinical-stage biotechnology company pioneering the development of bi-functional fusion proteins, with key clinical data from multiple expansion cohorts in 2023

• Checkpoint inhibition + costimulatory pathway activation
• High binding affinity and avidity to targets
• Rapid Concept to Compound to Clinic
• Provides tumor antigen targeting by gamma delta T cells
• Unique opportunity in solid tumors relative to CD3 directed T cell engagers
• Highly modular and flexible design

SL-172154: CD47/SIRPα Inhibitor CD40 Agonist	SL-279252: PD-1/PD-L1 Inhibitor OX40 Agonist
Phase 1 trials in ovarian cancer and AML/HR-MDS	Phase 1 trial in advanced solid tumors and lymphoma

• Highly experienced management team, board of directors, and scientific advisory board
• $185.1 million in cash and cash equivalents and investments as of September 30, 2022
• Expected cash runway into 2H'2024 with multiple key clinical data readouts

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Highly Experienced Management and Board

Established Track Record of Drug Discovery and Development

Management Team

Taylor Schreiber, MD, PhD	Lini Pandite, MD, MBA	Casi DeYoung, MBA	Andrew R. Neill, MBA	Abhinav Shukla, PhD	Erin Ator Thomson, JD
Chief Executive Officer	Chief Medical Officer	Chief Business Officer	Chief Financial Officer	Chief Technical Officer	General Counsel

Board of Directors

Helen M. Boudreau	Carrie Brownstein, MD	George Golumbeski, PhD
Chairman of the Board; EVP of Business
CMO of Zentalis; VP of Global Clinical
CFO of Proteostasis, FORMA, Novartis US
Development, Celgene
R&D, Myeloid Diseases, Celgene
Tyler Brous	Neil Gibson, PhD	Michael Lee
Redmile Group
Chief Scientific Officer, COI Pharma;
Portfolio Manager, Lennox Capital Partners, LP
Chief Scientific Officer, Pfizer Oncology
	Taylor Schreiber MD, PhD
		Chief Executive Officer, Shattuck

5	Note: italicized text denotes prior affiliation