An2 Therapeutics, Inc. · NASDAQ:ANTX
An2 Therapeutics — Corporate Update (March 2026)
17 slides from An2 Therapeutics's corporate update, Mar 4, 2026
Slide 1: Investor Webcast: Epetraborole in Polycythemia Vera (PV)
AN2Therapeutics INVESTOR WEBCAST EPETRABOROLE IN POLYCYTHEMIA VERA (PV) MARCH 4, 2026
Slide 2: Forward-Looking Statements
Forward-Looking Statements This presentation contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements expressed or implied in this presentation include, but are not limited to, statements regarding: the potential and c
Slide 3: Agenda
Agenda Wosv3 O1Y4 “CW ‘Saudd ‘L NOUVV AN2 Therapeutics fo) m ie} D fo) m x 4 > = DQ ° Sl = 9 Eric Easom OVERVIEW Co-Founder, President, Chief Executive Officer and Chairman; AN2 rge H. Tal M.D. CLINICAL Geo ge albot, Co-Founder, Senior Medical Advisor, AN2 Aaron T. Gerds, M.D. Associate Professor of
Slide 4: Strategic rationale for advancing epetraborole into PV
Strategic rationale for advancing epetraborole into PV N coupes GH snes tanernanors New, NEAR-TERM ENABLING DATA CATALYSTS WOULD FILL GAP = Epetraborole has demonstrated = Durable hematocrit control is = Phase 2 initiation in Q3/26 consistent, dose-dependent key but remains difficult to hematocrit r
Slide 5: Early and sustained hematocrit reductions in Phase 2/3 NTM study (n=177)
Early and sustained hematocrit reductions in Phase 2/3 NTM study (n=177) Hematocrit reductions observed throughout epetraborole treatment Phase 2/3 NTM trial Hematocrit (%) Sustained, stable HCT reduction -#EBO 500mg QD oral (n=105) . ; Placebo (n272 = HCT reductions were reversible ~*-Placebo (n=72
Slide 6: Trial replicated results in long-term NHP studies and healthy volunteers
Trial replicated results in long-term NHP studies and healthy volunteers Durable, reversible HCT reduction across epetraborole preclinical and clinical studies Phase 1 Nonhuman primates 4.00 4.0 —eEBO 250 —e-EBO 500 —e®-—EBO 750 —*—Control —®—50mg/kg —@-—150mg/kg —=450mg/kg o 2.00 2.0 a 2 ® = 0.00 2
Slide 7: EBO demonstrated selective red-cell effect and preserved WBCs and platelets
EBO demonstrated selective red-cell effect and preserved WBCs and platelets Data consistent with erythroid-lineage selectivity rather than generalized cytoreduction In prior trials, platelet and WBC counts remained stable and within normal ranges, with no evidence of broad myelosuppression WBCs (107
Slide 8: Phase design and anticipated early data readout
Phase 2 design and anticipated early data readout Study design consistent with prior PV programs, allows for early assessment of key efficacy measures MAJOR OUTCOME MEASURES 1. Percent of patients maintaining PART 1 PART 2 “clinical success” in Part 2 defined as: Open-label . Open-label . Open-label
Slide 9: Anticipated PV timeline
Anticipated PV timeline Subject to regulatory review and enrollment rates 3Q26 4Q26 2027 Phase 2 FPI Initial sentinel Clinical data updates group data throughout 2027 FPI= First patient initiated AN2 Therapeutics 9
Slide 10: Oral epetraborole modulates red-cell production via a novel MOA
Oral epetraborole modulates red-cell production via a novel MOA Program Summary Candidate Status Form Market Differentiation Enabling data Oral, red-cell Clinical and Epetraborole Phase 2 Oral 150,000 (U.S.) targeting preclinical data ry Once-daily oral administration Near-term data readouts 9 we we
Slide 11: Therapeutic goals in treating PV?
a1 Therapeutic goals in treating PV? > S a fo) Zz ad fo) m es] 6 n = 9 AN2 Therapeutics " a
Slide 12: What do REVEAL and other studies indicate about adequacy of hematocrit control?
> S a fo) Zz ad fo) m es] 6 n = 9 What do REVEAL and other studies indicate about adequacy of hematocrit control? AN2 Therapeutics 2 a
Slide 13: What is the unmet need around current therapies?
> S a fo) Zz ad fo) m es] 6 n = 9 as3_ What is the unmet need around current therapies? AN2 Therapeutics 13 a
Slide 14: Where would an oral drug like EBO fit into the treatment landscape?
> S a fo) Zz ad fo) m es] 6 n = 9 Where would an oral drug like EBO fit into the treatment landscape? AN2 Therapeutics 4 a
Slide 15: Advancing toward value-creating milestones over next two years
Advancing toward value-creating milestones over next two years Leveraging proprietary boron chemistry platform to advance pipeline of potentially high-impact programs 2026 2027 . Phase 2 Phase 2 Polycythemia vera Initiate Early Data PHASE 2 | Phase 2 M. abscessus Initiated PHASE 2 . Phase 1 Phase 2
Slide 16: Q&A
AN2Therapeutics Q&A MARCH 4, 2026
Slide 17: Thank You
AN2Therapeutics THANK YOU! MARCH 4, 2026