Announcement PDF Neuren and Acadia Expand Global Partnership for trofinetide (DAYBUETM) 14 July 2023 IMPROVING THE LIVES OF PEOPLE WITH NEURODEVELOPMENTAL DISABILITIES Page□ 1 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 Transaction to maximize value of trofinetide and NNZ-2591 1 Expands Acadia’s exclusive trofinetide licence to worldwide, for up to additional US$527m to Neuren (including US$100m up-front) plus mid-teens to low-20s % royalties on net sales outside North America 2 Leverages Acadia’s unique knowledge and expertise from successful DAYBUE development and commercialization in the US and the established supply chain; Acadia responsible for all costs 3 Unlocks NNZ-2591’s potential application in Rett and Fragile X globally, with separate sales milestones and royalties to Neuren identical to trofinetide inside and outside North America 4 Significantly strengthens Neuren’s position to explore all strategic options, with cash at 30 June 2023 plus the up-front payment1 A$226 million 1 Assuming AUD/USD exchange rate of 0.68 and US withholding tax of 5% for the up-front payment 3 Transaction economics to Neuren for trofinetide outside North America US$100m upfront payment US$35m following 1st commercial sale in Europe US$15m following 1st commercial sale in Japan Up to US$14m in relation to 1st commercial sale of a 2nd indication in Europe and Japan Total payments unrelated to sales performance Sales milestones Tiered royalties US$164m Up to US$363m On achievement of escalating annual net sales thresholds Mid-teens to low-20s % of net sales If Acadia sub-licenses any region within the first 2 years, Neuren is entitled to a share of any upfront and development milestones received by Acadia. Creditable against future payments to Neuren in the sub-licensed region. 4 Trofinetide North America Economics for Neuren unchanged Rett Syndrome Fragile X Syndrome  US$10m in 2022 following acceptance of NDA for review  US$40m following 1st commercial sale in the US US$33m Up to US$55m in relation to development milestones and 1st commercial sale in the US one third share of Priority Review Voucher awarded to Acadia (assuming market value US$100m) Aggregate of all indications Tiered Royalty Rates (% of net sales)1 Annual Net Sales Rates Example calculations of royalty/sales milestones Sales Milestones Net Sales in one calendar year US$m Annual Net Sales in NA Annual Royalty Total Sales Milestones Earned ≤US$250m 10% ≥US$250m 50 >US$250m, ≤US$500m 12% ≥US$500m 50 US$500m US$55m US$100m >US$500m, ≤US$750m 14% ≥US$750m 100 US$750m US$90m US$200m >US$750m 15% ≥US$1bn 150 US$1bn US$128m US$350m Total 350 1 Royalty rates payable on the portion of annual net sales that fall within the applicable range 5 Value of NNZ-2591 enhanced Post Transaction Before Transaction Rett Global restrictions Rett Fragile X Fragile X PhelanMcDermid PhelanMcDermid Pitt Hopkins Pitt Hopkins Angelman Prader-Willi Other Restrictions in North America only if Acadia develops trofinetide for an indication Angelman Partnership with Acadia Neuren • Exclusive worldwide licence to Acadia for Rett and Fragile X syndromes only • Potential future payments to Neuren for NNZ2591 in Rett and Fragile X syndromes identical to the payments for trofinetide inside and outside North America • Neuren retains worldwide rights to NNZ-2591 in all other indications • Ongoing Phase 2 clinical trials in PhelanMcDermid, Pitt Hopkins, Angelman and Prader-Willi syndromes • First top-line results expected in Dec 2023 Prader-Willi Other 6 Transforming catalysts in 2023 Commercial Trofinetide NA Trofinetide RoW NNZ-2591 ✓ DAYBUE for Rett syndrome approved by FDA ✓ Priority Review Voucher awarded to Acadia ✓ First US commercial sale - US$40m milestone payment • Quarterly royalties on net sales • Priority Review Voucher value one third share – estimated as US$33m ✓ Global trofinetide partnership with Acadia • Receive US$100m upfront payment from Acadia ✓ Initiate Prader-Willi syndrome Phase 2 trial ✓ Complete enrolment in Phelan-McDermid syndrome Phase 2 trials • Complete enrolment in Pitt Hopkins and Angelman syndrome Phase 2 trials • Top-line results for Phelan-McDermid syndrome in Dec 2023 Development 7 CONTACT Jon Pilcher, CEO jpilcher@neurenpharma.com +61 438 422 271 8