Brixadi™In the US

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Brixadi™In the US Company presentation July 2020 2 Forward looking statements This presentation contains forward-looking statements that provide our expectations or forecasts of future events such as new product developments and regulatory approvals and financial performance. Camurus is providing the following cautionary statement. Such forward-looking statements are subject to risks, uncertainties and inaccurate assumptions. This may cause actual results to differ materially from expectations and it may cause any or all of our forward-looking statements here or in other publications to be wrong. Factors that may affect future results include currency exchange rate fluctuations, delay or failure of development projects, loss or expiry of patents, production problems, unexpected contract, patent, breaches or terminations, government-mandated or market-driven price decreases, introduction of competing products, Camurus‘ ability to successfully market products, exposure to product liability claims and other lawsuits, changes in reimbursement rules and governmental laws and interpretation thereof, and unexpected cost increases. Camurus undertakes no obligation to update forward-looking statements Long-acting medications addressing key healthcare challenges 4 Corporate highlights Rapidly growing commercial Broad late-stage pipeline stage company • 10 innovative clinical programs in • Fully operational commercial addiction, pain, oncology, endocrine infrastructure in Europe and Australia disorders and CV diseases • Buvidal® to date launched in 8 countries • Two ongoing Phase 3 studies • Strong growth of product • Advancing early stage opportunities Market approvals Unique FluidCrystal® Partnerships Positive 2020 outlook Weekly and monthly nanotechnologies R&D collaborations, Expected FY net revenues* ® Buvidal for opioid • New generation long-acting licensing and royalty SEK 340 - 380 million dependence depot technology arrangements with whereof product sales • Validated in +20 clinical trials pharma and biotech SEK 310 - 340 million companies and by approved products *excluding a $35 million milestone for final FDA approval of Brixadi™in the US LISTED ON NASDAQ STO; TICKER CAMX MARKET CAP ~ SEK 7.6 billion EMPLOYEES: 130 HQ: Lund, Sweden REGIONAL OFFICES: Cambridge, Mannheim, Sydney 5 Camurus‘ FluidCrystal® long-acting release technology has unique properties Easy and convenient administration Adopted to prefilled syringes and autoinjectors Rapid onset & long-acting release Manufacturing by standard processes Applicable across substance classes Strong intellectual property Injection of liquid . formulation Encapsulating Slow release Drug release and conc using prefilled H2O liquid crystal gel of drug biodegradation of syringe or triggered by blood gel matrix to full autoinjector water uptake drug resolution time Sources: Tiberg F, et al. Chapter in Long Acting Injections and Implants, Advances in Delivery Science and Technology 2012; Tiberg F, et al. OnDrugDelivery 2010; Tiberg F, et al. Drug Del. Sci. Tech., 21 (1) 101-109 2011. 6 FluidCrystal – Long-acting release Immediate release pasireotide (Signifor®) Pasireotide FluidCrystal® (CAM4071) 10 10 Pasireotide IR 600 ug (SC Pasireotide FluidCrystal 20 thigh, n = 94) mg (SC thigh, n = 12) 1 1 pasireotide plasma concentration (ng/mL) concentration plasma pasireotide pasireotide plasma concentration (ng/mL) concentration plasma pasireotide 0,1 0,1 0 7 14 21 28 0 7 14 21 28 Time (days) Time (days) 7 Opioid dependence – escalating global health crisis • Largest society burden of all drugs1 Mounting opioid overdose deaths2 1 64 30 • 35 million opioid users worldwide - Scotland • High need for better access to care 25 and new treatment alternatives USA 20 • Investment in treatment brings substantial value and saves lives 15 10 Australia • Significant limitation with current daily Sweden medications UK 5 Finland ‒ Diversion, misuse, overdosing, poor retention, Germany burdens and stigma of daily buprenorphine and 0 methadone medications Drug overdose deaths per 100,000, age group 15 #1 cause of death for people under 50 in the US2,3 Recent US life expectancy decline largely due to opioids4 Sources: 1UNODC, World Drug Report 2019; 2.EMCDDA 2018, National Records of Scotland, Centers for Disease Control and Prevention 3Frazier at al, 2017, Journal of the American Medical Association; 4Crow D. Financial Times.com, accessed on March 13, 2018, https://www.ft.com/content/d22e742c-e65c-11e7-97e2-916d4fbac0da 8 Buvidal® – flexible long-acting treatment of opioid dependence Flexible-dose, weekly and monthly, subcutaneous buprenorphine for treatment of opioid dependence within a framework of medical, social and psychological treatment in adults and adolescents 16 years or over1 Launch initiated in Europe and Australia in 2019 Source: 1Buvidal Summary of Product Characteristics (SmPC), 2018 9 Buvidal provides significant benefits to patients and society • Improved treatment outcomes and patient satisfaction1,2 • Reduced treatment burden and stigma3 • Diminished diversion, misuse and pediatric exposure4 • Reduced treatment costs in the criminal justice system5 “CAM2038 compared to my previously prescribed sublingual buprenorphine treatment” “For me, Buvidal is a Much better 83% revelation. I know that as Slightly better POSITIVE long as I stay on Buvidal 1 I’ve got a chance” About the same N=133 Sophie, Buvidal patient in Wales Slightly worse Much worse 1. Frost et al, Addiction, 2019;114(8):1416-1426; 4. EPAR 10 Accelerating uptake of Buvidal •Launched in 8 markets since 2019 •Increasing product sales 7,500 patients in treatment with MSEK Buvidal at the end of March 2020 60 Market leader in Finland and Norway* Rapid growth in Australia with an 50 48.6 estimated 3,000 patients on Buvidal Accelerating uptake in Sweden, 40 +60% Germany, UK and Denmark 30.3 Covid-19 highlights Buvidal 30 advantages 19.5 Expanding use in the criminal justice 20 setting 11.0 11.3 10 Wide media coverage of Buvidal 0 Q1 Q2 Q3 Q4 Q1 Quarterly product sales 2019 2020 * Measured by product sales 11 Key access limitations addressed in 2020 Norway Sweden Outreach services started to Reimbursement of Buvidal facilitate patient access and approved by TLV4 mitigate risk of spreading Covid-191 Germany Scotland Physician remuneration Government announced system modified balancing £1.9m budget to support reimbursement for different people in prison on OST to treatment modalities5 switch to Buvidal2 Austria Wales Law changed allowing Wales’ Health Minister injectable treatments 6 supports treatment with Australia for opioid dependence long-acting buprenorphine GPs allowed to during the ongoing prescribe Buvidal Covid-19 crisis3 from 1 April 2020 1. https://sykepleien.no/2020/04/leverer-lar-medisiner-pa-dora?cid=sm7786262328 ; 2. https://news.gov.scot/news/supporting-people-affected-by-drug-use; 3. https://gov.wales/wales-roll-out-once-month-injection-recovering-heroin-addicts-help- protect-nhs-staff; 4. https://www.tlv.se/beslut/beslut-lakemedel/begransad-subvention/arkiv/2020-05-19-buvidal-ingar-i-hogkostnadsskyddet-med-begransning.html; 5. https://www.kbv.de/html/1150_45794.php; 6. Federal law for Austria issued 18 May 2020 Part II 215th regulation: Amendment of the drug regulation 12 Market expansion in Wave 2 countries Benelux >22,000 patients in opioid Austria 1 dependence treatment >18,000 patients in opioid Preparation for launch dependence treatment1 Launched 19 May 2020 France >179,000 patients in opioid dependence treatment1 Final regulatory Italy discussion with ~70,000 patients in opioid 1 authorities dependence treatment Pricing and reimbursement Spain discussions >58,000 patients in opioid dependence 1 Launch sequence treatment Wave 1 markets Wave 3 markets Preparation for launch Wave 2 markets Wave 4 markets 1. European Drug Report 2019, EMCDDA 13 Global strategy for Buvidal (Brixadi) REGION PARTNER NO OF PATIENTS PEAK MARKET POTENTIAL EU ~1.3 million ~€300 million2 Australia HIGH-RISK OPIOID USERS1 North >2 million $0.6-1.2 billion4, 5 America DIAGNOSED WITH OPIOID USE DISORDER IN THE US3 Middle East 5 & North >300,000 €25-75 million 6 Africa (Israel) WITH OPIOID DEPENDENCE Source: 1European Drug Report 2019; 2Camurus estimate; 3SAMHSA, Results from the 2017 National Survey on Drug Use and Health, Sep. 2018; 4Opioid Use Disorder: Opportunity Analysis and Forecasts to 2027, GlobalData 2018; 5Camurus estimates; 6World Drug Report and NewBridge estimate 14 Regulatory progress with Buvidal® (Brixadi™) •New regulatory filings •Braeburn preparing for US launch CAM2038 Chronic pain Market authorization application Clear path to final market approval, Pre-submission meeting submitted to the Swiss Agency for after FDA granting Citizen Petition in held with EMA Therapeutic Products (Swissmedic) Nov. 2019 Rapporteurs Market authorization application Request for final FDA approval of the under review in New Zealand NDA for Brixadi accepted by FDA Product positioning & pricing studies under with PDUFA date 1 Dec. 2020 completion All product requirements in place for a Availability of Buvidal in MENA successful launch (Braeburn) Planned 2020 regulatory • submission to EMA region Arbitration proceedings started in England after Camurus issuance of a Early access programs and regulatory material breach notice on Braeburn1 filings initiated with collaboration partner NewBridge Pharmaceuticals FDA final approval of Brixadi expected 1 Dec 2020 – triggering a First patients treated with Buvidal $35 million milestone
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