Tarsus Pharmaceuticals : Corporate Presentation

Tarsus

Corporate Presentation

January 2023

© Tarsus Pharmaceuticals

Legal Disclaimer

This presentation contains forward-looking statements that involve risks and uncertainties. Forward-looking statements are neither historical facts nor assurances of future performance. Instead, they are based on our current expectations about future events that we believe may affect our financial condition, results of operations, business strategy, and financial needs. All statements other than statements of historical facts contained in this presentation, including any statements regarding the ability of our clinical trials to demonstrate acceptable safety and efficacy of our product candidates, and other positive results; the timing, progress and results of clinical trials for our product candidates, including statements regarding the timing of initiation and completion of studies or trials and related preparatory work, the period during which the results of the trials will become available, and our research and development programs; the timing, scope and likelihood of regulatory filings, NDA submissions and approvals; our ability to obtain marketing approvals of our product candidates and to meet existing or future regulatory standards or comply with post-approval requirements; our expectations regarding the potential advantages of our product candidates over existing therapies; the impact of COVID-19 on our business, clinical development programs and operations; our expectations with regard to our ability to develop additional product candidates or product candidates for other indications; our ability to identify additional products, product candidates or technologies with significant commercial potential that are consistent with our commercial objectives; our ability to develop, acquire and advance additional product candidates into, and successfully complete, clinical trials; the initiation, timing, progress and results of our preclinical studies and clinical trials, and our research and development programs; our expectations of the potential market opportunity and patient populations for our product candidates, including TP-03,TP-04, and TP-05 if approved for commercial use; the commercialization and market acceptance of our product candidates; and the implementation of our business model and strategic plans for our business and product candidates are forward-looking statements. The words "may," "will," "expect," "anticipate," "aim," "estimate," "intend," "plan," "believe," "is/are likely to," "potential," "continue" and other similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain these identifying words. Forward-looking statements may involve known and unknown risks, uncertainties and other factors that may cause our actual results, performance or achievements to be materially different from those expressed or implied by the forward-looking statements. Accordingly, readers are cautioned not to place undue reliance on these forward-looking statements. Except as required by applicable law, we do not plan to publicly update or revise any forward-looking statements contained herein, whether as a result of any new information, future events, changed circumstances or otherwise. No representations or warranties (expressed or implied) are made about the accuracy of any such forward-looking statements. Important factors that could cause our actual results to differ materially are detailed from time to time in the reports we file with the Securities and Exchange Commission, copies of which are posted on our website and are available from us without charge. However, new risk factors and uncertainties may emerge from time to time, and it is not possible to predict all risk factors and uncertainties. Photos in this presentation relating specifically to the Saturn-1 trial will be explicitly denoted as such.

2 © Tarsus Pharmaceuticals

Building the Next Billion-Dollar Market and

Transforming Into a Leading Eye Care Company

Large and underserved	TP-03: definitive standard
market ~25M	of care potential
No FDA approved therapeutics and	PDUFA - August 2023,
clear patient segments	potential curative therapeutic with
	high gross margins

Pipeline monetization	Strong financial foundation
opportunities	and leadership team
Value-driving therapeutics in	Well capitalized and decades of
clinical studies for Lyme	eye care, product launch and market
disease and rosacea	building experience

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© Tarsus Pharmaceuticals

Strategic Growth Drivers Position Tarsus for Transformation Into a Leading Eye Care Company

LAUNCH

TP-03 for

Demodex

Blepharitis

MONETIZE

Pipeline

TRANSFORM

into a leading eye care company

TP-03

TP-03: First in class	Seasoned commercial	Disease campaign and	Early, active	Activation and	Anticipated FDA
drug that potentially	leadership team	all-OD medical field	communications with	deployment of tailored	approval of
delivers complete	priming the market	force engaging KOLs	top commercial and	sales force covering	TP-03 August 2023
disease resolution		and early adopters	Medicare accounts	>80% of the market	and 4Q 2023 first
					quarter of sales

(Topical)	(Oral)	TP-03	(Oral)
TP-04 Rosacea	TP-05 Lyme	TP-03 MGD	TP-05 Lyme
Initiate Galatea Ph2a	Carpo Ph2a topline data	Ersa Ph2a topline data	Initiate Ph2b
1H 2023	2H 2023	2H 2023	2H 2023
Strong financial	Best-in-class leadership team	Building new
position with runway	with decades of eye care and	markets in
anticipated at least	new category launch experience	eye health
into 2H 20261

1. Cash of $227 million as of September 30, 2022 and assumes: (1) $30 million of additional China out-license milestone receipts through 2025, (2) up to $60 million of additional debt draws through FDA approval of TP-03 and (3) U.S. revenues of TP-03.

4 © Tarsus Pharmaceuticals

Tarsus Executive Leadership Team with Decades of

Eye Care, Product Launch and Market Building Experience

Bobby Azamian

M.D., Ph.D.

CEO & Chairman

Former CEO/CMO Metavention with extensive investment/entrepreneurial

experience with Versant & Third Rock Ventures

20+ years of bringing	Aziz Mottiwala
products to market and former
Chief Commercial
VP Marketing, Allergan Eye Care
Officer
(Restasis®, Lumigan®)

20+ years of	Leo Greenstein
finance leadership	J.D., CPA
within publicly-traded	Chief Financial Officer
life science companies

Elizabeth Yeu	Board Member and President
M.D.	American Society of Cataract and
Chief Medical Advisor	Refractive Surgeons (ASCRS)

Sesha Neervannan	25+ years drug development
experience, with deep expertise
Ph.D.
in ophthalmic and dermatology
Chief Operating Officer	products

20+ years HR leadership including	Dianne Whitfield
Chief Human Resources
multiple roles at Allergan
Officer

Bryan Wahl

M.D., J.D.

General Counsel

Jose Trevejo

M.D., Ph.D.

Chief Medical Officer

20+ years experience leading drug development, clinical trials and research

			20+ years broad legal experience including IP, strategic transactions and
5		© Tarsus Pharmaceuticals	former partner at Knobbe