Announcement PDF P Pa ag ge e□ □ 1 1 27 February 2026 IMPROVING THE LIVES OF PEOPLE WITH NEURODEVELOPMENTAL DISABILITIES Investor presentation Forward looking statements This presentation contains forward looking statements that involve risks and uncertainties. Although we believe that the expectations reflected in the forward looking statements are reasonable at this time, Neuren can give no assurance that these expectations will prove to be correct. Actual results could differ materially from those anticipated. Reasons may include risks associated with drug development and manufacture, risks inherent in the regulatory processes, delays in clinical trials, risks associated with patent protection, future capital needs or other general risks or factors. 2 Ground-breaking impact on pediatric neurological Orphan indications 3 Impaired communication between neurons, abnormal formation/pruning of dendrites & chronic inflammation Rett (MECP2) Fragile X (FMR1) Phelan-McDermid (SHANK3) Pitt Hopkins (TCF4) Angelman (UBE3A) | Prader-Willi (15q11-q13) | SYNGAP1-related disorder (SYNGAP1) Neurodevelopmental disorders Hypoxic-Ischemic Encephalopathy (lack of oxygen or blood flow to the brain before, during or shortly after birth) Brain injury Walking and balance issues Anxiety and hyperactivity Seizures Impaired communication Intellectual disability Impaired social interaction Developmental delays Cognitive impairment Seizures Cerebral palsy Impaired hand use Sleep disturbance Gastrointestinal problems Severe impact on nearly every aspect of life Long-term impact on survivors Excitotoxicity, mitochondrial dysfunction, and acute & chronic inflammatory processes Neuren’s drugs target the critical role of IGF-1 in this upstream process, using analogs of naturally occurring peptides that can be taken orally as liquids Multiple late-stage opportunities supported by commercial product 4 Indication Compound Geography Preclinical Phase 2 Phase 3 Registration Commercial rights Rett Trofinetide NNZ-2591 US, Canada RoW World Trofinetide World NNZ-2591 World Fragile X Phelan-McDermid NNZ-2591 World Pitt Hopkins NNZ-2591 World Angelman NNZ-2591 World Prader-Willi NNZ-2591 World SYNGAP1 NNZ-2591 World HIE NNZ-2591 World 1 Exclusive license for Trofinetide and NNZ-2591 (Rett and Fragile X only) globally 2 Wholly owned by Neuren 1 2 Large potential upside for shareholders is enabled by financial strength 5 *Rett and Fragile X syndromes are licensed to Acadia, with same economics to Neuren as trofinetide; Neuren retains worldwide rights to all other indications Phelan-McDermid syndrome Pitt Hopkins syndrome Hypoxic Ischemic Encephalopathy (HIE) Angelman syndrome, Prader-Willi Syndrome, SYNGAP1, Rett syndrome (Acadia)*, Fragile X syndrome (Acadia)* NNZ-2591indications prioritised for maximum commercial impact Long-term income growth from DAYBUE® (trofinetide) A$510m income from DAYBUE since launch in 2023 A$296 million cash as at 31 Dec 2025 The 2025 numbers – growing sustainable income 6 • A$65mroyalty income up 15% YoY • Interest income A$12m • A$30mNPAT without any one-time revenue • Corporate & admin costs only A$6m • R&D investment in NNZ-2591 A$36m • A$510mDAYBUE revenue since launch in 2023 - 27 56 65 15 205 157 16 238 221 82 2022 2023 2024 2025 Total Income (including net derivative and FX gain/loss) Royalty One-offs Net Financial income* * Finance Income + net gain / (loss) on financial derivatives + net FX gain / (loss), excluding FX translation 1st sales milestone & PRV sale Ex-NA upfront & 1st commercial sale milestone Organically generated cash flow continues to fund growth 7 222 63 159 12 -61 -48 -33 -18 296 Cash 31 Dec 2024 Royalty One-time sales milestone & PRV sale Interest Tax Other operating payments Net Capital Management FX Translation Cash 31 Dec 2025 A$m DAYBUE® (trofinetide) 8 Economics to Neuren from Acadia partnership 9 US$10m upfront in 2018 US$10m in 2022 following acceptance of NDA for review US$40m in 2023 following 1st commercial sale in the US US$50m In 2024 one third share of Priority Review Voucher awarded to Acadia (sold for US$150m) US$55m Milestone payments related to Fragile X  Tiered Royalty Rates (% of net sales)1 Annual Net Sales Rates ≤US$250m 10% >US$250m, ≤US$500m 12% >US$500m, ≤US$750m 14% >US$750m 15% Sales Milestones1 Net Sales in one calendar year US$m ≥US$250m 50 ≥US$500m 50 ≥US$750m 100 ≥US$1bn 150  North America  US$100m upfront in 2023 US$35m following 1st commercial sale in Europe US$15m following 1st commercial sale in Japan US$10m following 1st commercial sale of a 2nd indication Europe US$4m following 1st commercial sale of a 2nd indication Japan  Sales milestones1 On achievement of escalating annual net sales thresholds: Europe: up to US$170m Japan: up to US$110m RoW: up to US$83m Tiered royalties1 Mid-teens to low-20s % of net sales Outside North America   1 Royalty rates payable on the portion of annual net sales that fall within the applicable range. Each sales milestone payment is payable once only 460 177 348 391 490 CY2023 (Apr -Dec) CY2024 CY2025 CY2026 Acadia Guidance DAYBUE Net Sales (US$m) 70 27 56 65 77 CY2023 CY2024 CY2025 CY2026E* Royalty to Neuren (A$m) Growing income from US plus international named patient programs 10 1 Acadia Q4 and Full Year 2025 Earnings Call presentation * Based on Acadia full year 2026 DAYBUE Net Sales Guidance of US$460-490m, conservatively assuming North America royalty rates only (10% of DAYBUE net sales up to US$250m and 12% of DAYBUE net sales between US$250m and US$500m), and AUDUSD of 0.70 to 0.72 1,070 patients on active treatment1 DAYBUE STIX launch during H1 2026 +18–25% + 8–19% +12% +15% 76 85 91 97 85 96 101 110 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 DAYBUE Net Sales (US$m) Consistent growth trajectory driven by volume 11 920 954 987 Unique patients received DAYBUE in the Quarter 923 917 1,006 1,070 2025 saw: • Consistent fundamentals with strong persistency (~55% at 12 months1) and low discontinuations (low single digit per Q2) • Continued patient momentum, with growing community adoption (~76% of new prescriptions from community in Q42) • Expanding global interest through named patient supply programs 1 Acadia J.P. Morgan Healthcare Conference presentation 13 Jan 2026 2 Acadia Q4 and Full Year 2025 Earnings Call DAYBUE STIX: a new formulation based on Rett community feedback 12 Source: Acadia Q4 and Full Year 2025 Earnings Call presentation Powder for oral solution approved by US FDA in December 2025 Differentiated features Mixes easily into beverages Customizable volume No refrigeration required Highly portable Reduced sugar content Dye & preservative-free Early launch progress Strong early interest from HCP's and Care Givers Initial supply in channel, first patients shipped Broader commercial launch targeted for early Q2 2026 Incremental demand potential Provides an additional lever to engage both naïve and discontinued patients Will be available across both COE and Community settings Expand number of diagnosed patients • Currently 6,000 up from 4,500 in 2023 • Theoretical prevalence 6,000 – 9,000 Expand % of patients starting therapy • ~2,000 patients treated since launch1 • DAYBUE STIX enables engagement with ~400 additional naïve and discontinued patients Maintain or improve persistency • Persistency on therapy after 12 months increased to ~55%1 Significant upside in the US 13 Illustrative potential active patient numbers table comprises Neuren calculations 1 Acadia J.P. Morgan Healthcare Conference presentation 13 Jan 2026 2 Acadia Q4 and Full Year 2025 Earnings Call 1 2 3 % starting therapy Number of diagnosed patients 6,000 7,000 8,000 9,000 40 1,200 1,400 1,600 1,800 50 1,500 1,750 2,000 2,250 60 1,800 2,100 2,400 2,700 70 2,100 2,450 2,800 3,150 Illustrative potential active patient numbers conservatively assuming 50% long- term persistency Long term growth opportunity for trofinetide through global expansion 14 1 Acadia estimates 2 Reimbursement currently not recommended by CDA-AMC Mar 2023 Oct 2024 Jan 2026 US 6,000 - 9,000 Rett patients1 Canada 600 - 900 Rett patients1 Israel Approved Approved2 Approved RoW Named patient supply programs in select countries Europe 9,000 - 12,000 Rett patients1 Active named patient supply programs Plan to request CHMP re- examination, with potential outcome late Q2 2026 Japan 1,000 - 2,000 Rett patients1 Orphan Drug Designation status granted Phase 3 results expected Q4 2026/Q1 2027, to facilitate marketing application in 2027 Active NPP NNZ-2591 15 Neuren is leading the development of a first treatment for Phelan- McDermid syndrome (PMS) 16 The Voice of the Patient…..1 “PMS has an overwhelming unmet medical need. There are no FDA approved treatments for PMS despite its severely debilitating manifestations. Parents and caregivers are open to trying almost anything to try to relieve their child’s suffering; most have tried an incredibly high number of treatments and approaches for symptom management, with very little success.” NNZ-2591 development program ✓ Orphan Drug designation (US and EU) ✓ Rare Pediatric Disease designation (US) ✓ Meaningful improvements rated by clinicians and caregivers in open-label Phase 2 trial ✓ Alignment with FDA on single Phase 3 trial design and endpoints to support a New Drug Application ✓ Fast Track designation (US) ✓ Koala Phase 3 trial recruiting 1 Excerpts from Voice of the Patient Report of Externally-Led Patient-Focused Drug Development Meeting Nov 2022 Developmental delay/intellectual impairment (lack of safety awareness) and communication issues are the most troublesome concerns. Improved cognitive functioning and improved communication are the most desired outcomes. “PMS has severe quality of life impacts on those living with the disease, as well as on parents and siblings. Most activities of daily life, including communicating needs or wants, self-care (bathing, dressing, toileting) and socializing with peers/siblings are affected. Most individuals living with PMS rely on their parents and caregivers for all their daily needs, and many require 24-hour care.” 17 Alignment with FDA on single Phase 3 trial design and endpoints to support a NDA NNZ-2591 Placebo 160 80 80 Double-blind, 13 weeks NNZ-2591 Open label, 12 months Randomised 1:1 giving estimated 95% power for each co- primary endpoint First 2 patients dosed + >70 patient referrals Dosing commenced in Koala - the first ever Phase 3 trial in PMS Screening Up to 4 weeks As of 27 Feb 2026 18 Co-primary Endpoints in Phase 2 Results1 Phelan-McDermid Syndrome Assessment of Change (PMSA-C), previously referred to as CGI-I in Phase 2 16/18 subjects showed improvement Mean score: 2.4 (P < 0.00012) Receptive Communication sub-domain of the Vineland Adaptive Behavior Scales, 3rd Edition (VABS-3 Receptive-Raw Score) 16/18 subjects showed improvement Mean improvement: 7.5 (from baseline of 29.0) (P = 0.00012) Key Phase 3 endpoints robustly positive in Phase 2 trial Key Secondary Endpoint in Phase 2 Results1 Caregiver Impression of Change (CIC) score 15/18 subjects showed improvement Mean score: 2.7 (P = 0.00032) 1 13 weeks treatment of patients age 3-12 years in open label trial at 4 US sites 2 Wilcoxon signed rank test NNZ-2591 was safe and well tolerated in Phase 2, with no clinically meaningful changes in safety parameters during treatment (pg/ml) pERK length (m) Abnormal dendrites in shank3 knockout mice cells in culture Normalization after treatment with NNZ-2591 In biochemical testing, NNZ-2591 was shown to normalize the abnormal length of dendritic spines that form the synapse, the excess activated ERK protein (pERK) and the depressed level of IGF-1 in shank3 knockout mice Memory Learning Sociability Motor function Anxiety Repetitive behavior Daily living Daily living Incidence of audiogenic seizures WT + vehicle 0% KO + vehicle 60% KO + x mg/kg 50% KO + 2x mg/kg 30% KO + 4x mg/kg 10% KO + 8x mg/kg 10% 19 Supported by clear efficacy and dose response in shank3 model of PMS Leading the development of a first treatment for Pitt Hopkins syndrome (PTHS) 20 Patients stories1 “She was tested earlier for Angelman and Rett Syndrome, but they were of course negative. I had a strange feeling that something was wrong with her already when she was a newborn…I started to see different doctors with her, but they just told me nothing was wrong, until we met a Neurologist who told us that she had Cerebral Palsy and that she would not able to walk, ever…She doesn’t talk but when she was about one year old she was saying a few words that never ever came back...” NNZ-2591 development program ✓ Orphan Drug designation (US and EU) ✓ Fast Track designation (US) ✓ Rare Pediatric Disease designation (US) ✓ Consistent efficacy observed in TCF4 model of PTHS ✓ Meaningful improvements rated by clinicians and caregivers in open-label Phase 2 trial 1 Pitt Hopkins Research Foundation “Caleb is currently 10 months old and he does not sit or roll yet and is not really interested in toys. He is currently in an early intervention program and is going through physical therapy, and sees a vision teacher and special education teacher…It has not been an easy journey thus far. I still do not how and where I get all my strength from. I know things will only get harder as he gets older but I am ready to accept the challenge and take each day as it comes.” Improvement Forest Plot of mean CGI-I Domain Scores MITT Population Meaningful improvements observed in Phase 2 clinical trial 21 1 Wilcoxon signed rank test • 13 weeks treatment of patients age 3-12 years in open label trial at 5 US sites • Mean CGI-Iof 2.6 with 9 out of 11 children showing improvement (p = 0.00391) • NNZ-2591 was safe and well tolerated, with no clinically meaningful changes in safety parameters during treatment Improvements were seen in clinically important aspects of Pitt Hopkins syndrome, including: • communication • social interaction • cognition; and • motor abilities Social Interaction Language/Communication Ambulation/Gross Motor Challenging Behaviors Fine Motor/Self-Help Gastrointestional Autonomic/ Breathing Abnormalities 40-45% of children who survive HIE have significant neurodevelopmental impairment at 2 yrs of age Even among children not diagnosed with neurodevelopmental impairment at 2, many manifest cognitive, behavioural and other functional difficulties as they reach school age and beyond Secondary Phase Latent Phase Primary Phase Hypoxic-Ischemic Encephalopathy (HIE) 22 Standard of care is therapeutic hypothermia (TH), which reduces mortality and morbidity Urgent unmet need for treatment to improve long- term outcomes Causes of HIE Situations where the global oxygenation of the blood flow to the brain is impacted in utero, during birth, or shortly after, that can cause fetal distress, e.g.: • Placental issues • Uterine rupture • Fetal maternal hemorrhage • Maternal infection • Shoulder dystocia • Cord compression and cord issues • Sudden unexpected postnatal collapse Hypoxia-ischemia 0-6 hrs 6-72 hrs Tertiary Phase 3 days to years • IGF-1 promotes cell survival, modulates inflammation, and regulates synaptic transmission • IGF-1 levels are reduced in infants with HIE, correlating with HIE severity and outcome • Supporting data from a range of in-vitro and in-vivo models NNZ-2591 NNZ-2591 in HIE – targeting a new paradigm of treatment 23 HIE program retains all the advantages of the other NNZ- 2591 programs: • Orphan Drug • Pediatric • Urgent unmet need • Limited competition • Leverages the non-clinical and manufacturing platform that has been built Commercial Clinical & Regulatory • Concentration of clinical sites at large hospitals available • Formal partnership with patient advocacy group • No approved drug therapy • Critical unmet need to improve long-term outcomes with a neuroprotective treatment post TH • Repeating pool of patients ~6,000 p.a. in the US1 • Addressable in ICUs - a new in-hospital channel for Neuren • Eligible for Orphan and Rare Pediatric Disease designations 1 Neuren estimates based on various published literature FDA feedback identified clear path for NNZ-2591 in HIE and PTHS 24 • Generally accepted Neuren’s IND-opening proposal and the doses to be evaluated • Guidance on the inclusion/exclusion criteria and safety monitoring • Requested additional juvenile animal data HIE FDA IND application submission 1 month PK, tolerability & safety study in neonates/infants with HIE Generate additional Juvenile animal data Potential Phase 2/3 study, subject to FDA discussion on endpoints, study population, and safety monitoring PTHS • PTHS-specific clinical global impression (CGI) scale may be used as a co-primary endpoint if it is accompanied by an observer-reported functional outcome measure FDA Further FDA interaction Assess alternative trial designs and endpoint analysis methodologies Potential Phase 2/3 study Substantial market opportunities in PMS, PTHS and HIE 25 Disorder Published prevalence estimates Potential patients US Europe Japan PMS 1/8,000 to 1/15,000 males and females1 ~1% of autism patients have SHANK3 mutations 19,000 - 36,0004 21,000 - 41,0004 5,000 - 9,0004 PTHS 1/34,000 to 1/41,000 males and females2 7,000 - 8,0004 8,000 - 9,0004 1,000 - 2,0004 HIE 2-3 / 1,000 births in high income countries; 10-30 / 1,000 births in low and mid income countries3 Addressable patients5 ~6,000 p.a. ~7,400 p.a ~1,140 p.a. 1 Phelan McDermid Syndrome Foundation (PMSF) (www.pmsf.org) 2 Pitt Hopkins Research Foundation (PHRF) (pitthopkins.org) 3 Hope for HIE (Hope for HIE - Hypoxic Ischemic Encephalopathy) 4 Estimates based on United Nations population data 2024, derived by applying the estimated prevalence range to the populations under 60 years 5 Neuren estimates based on various published literature and company publications CONTACT investorrelations@neurenpharma.com 26 Authorised by the CEO & Managing Director of Neuren Pharmaceuticals Limited, Suite 1.01, 117 Camberwell Road, Hawthorn East, VIC 3123