Darpin® Difference Reality for Patients

Making the DARPin® Difference Reality for Patients

Corporate Presentation of Molecular Partners AG, Switzerland (SIX: MOLN) June 04, 2018

DARPin® Therapies Partnerships Teamwork . Abicipar in Phase 3 (ophtha) . Alliance with Allergan . Swiss biotech (SIX: MOLN) . MP0250 in Phase 2 (onc) . Collaboration with AstraZeneca . 120 team members . MP0274 in Phase 1 (onc) . Cash CHF 130mn (Q1 2018) . Discovery to Phase 2 (POC) . Broad preclin. I/O portfolio . Financed well beyond key . Science & patients first value inflection points

. DARPin® Difference: unlock novel modes of action DARPin® Platform . Proof of Platform in the eye and systemically . Fast and cost effective drug discovery engine

DARPin® Difference

Identify unique Define target(s) product candidate Patient Need

® Screen for desired phenotype Mono-DARPin 12 . Apoptosis library (>10 ) . Activation via clustering etc.

Build multi-DARPin® library Select highly diverse mono-DARPin® (>10,000 multi-DARPin® combinations) proteins to various epitopes

Derived from ankyrin repeat proteins which are naturally occurring binding proteins in multifunctional contexts

Drug discovery engine ® DARPin® Difference Mono-DARPin MP0250: . Mono-specific DARPin® Combination Collections of 10,000 proteins are selected to a therapy in one multi-DARPin® candidates target from large are screened for MoA DARPin® libraries . Fast and cost-effective Ideal properties process . Small size, high affinity, . High affinity target binding high stability, high ® Multi-DARPin developability as mono & Flexible architecture multi-DARPin® proteins Multi-DARPin® candidates: Proof of platform . Linked mono-DARPin® domains (≤6 so far) . Low immunogenicity of MP0310: multi-DARPin® proteins . Form to function: Different MP0274: Tumor-localized and long t1/2 in blood- linkers – short, long, stream (14 days) and eye flexible, rigid depending handcuff Switch . Adjustable exposure on the target biology © 2018 Molecular Partners AG – Slide 4 Pipeline Balanced and Robust Portfolio

Discovery Preclinical Phase 1 Phase 2 Phase 3 MP0250 in MM

MP0250 in EGFR-mut NSCLC*

Oncology MP0274: HER2+ patients

MP0310: 4-1BB-FAP multi-DARPin® I/O

Engine: Multiple discovery programs ®

DARPin Abicipar in wet AMD

Abicipar in DME Unlimited Source of Candidates of Source Unlimited Three DARPin® candidates Partnership

Ophthalmology Additional discovery programs

AMD, age-related macular degeneration; DME, diabetic macular edema; MM, multiple myeloma; NSCLC, non-small cell lung cancer. *Collaboration with AstraZeneca for Tagrisso ® supply

Preclinical Phase 1 Phase 2 Phase 3 MP0310 MP0274 MP0250 Abicipar

NSCLC Wet AMD MM Tumor-restricted activity Molecular handcuff Blocking 2 key escape Long-acting VEGF (switch) to avoid dose- inducing cell death in pathways in parallel inhibitor in the eye limiting side effects HER2+ cancer cells

Opening a new Activity in patients no Restore activity of drugs Noninferiority to therapeutic window for longer benefiting from to which cancer has competition with combinations approved antibodies become resistant in MM less frequent ocular and NSCLC injections

Oncology Value in our proprietary oncology pipeline

Value Ophthalmology Value in ophthalmology with our partner Allergan

Time

. First bi-specific biologic blocking VEGF and HGF

VEGF . VEGF and HGF/c-MET key escape pathways for several SOC treatments DARPin® . Escape described for hematologic malignancies and solid tumors . Blocking these escape pathways may restore activity of SOC drugs HGF DARPin® . Our choice of indications – Multiple myeloma (MM) – EGFR-mutated non-small cell lung cancer (NSCLC) HSA . Potential in additional indications and combinations DARPin®

. Fully owned by Molecular Partners – IP protection at least until 2036

SOC, standard of care; HSA, human serum albumin.

© 2018 Molecular Partners AG – Slide 8 Oncology MP0250 Blocks Two Tumor Escape Pathways MP0250 Untreated Upregulation of escape Medical Need: agents that block pathways after SOC escape pathways to SOC

VEGF VEGF VEGF

Tumor HGF HGF HGF pathways (c-MET) (c-MET) (c-MET) HSA SOC

MP0250

2 5 0 0 )

3 2 0 0 0

Vehicle 1 5 0 0 Anti-HGF

1 0 0 0

Anti-VEGF Tumor Volume (mm Volume Tumor 5 0 0 Anti-VEGF & Anti-HGF MP0250

0 0 5 1 0 1 5 2 0 Treatment (days)

*Syngeneic model: HGF–c-MET axis fully functional – murine tumor grown in mouse strain of origin.

Gastric cancer PDX model Head & neck cancer PDX model Pancreatic cancer tumor model GXA3027 HNXF1905 KP4

8 0 0 1 0 0 0 2 5 0 0 V e h ic le V e h ic le V e h ic le

M P 0 2 50 M P 0 2 50 M P 0 2 50

P a c lita x e l 8 0 0 C is p la tin 2 0 0 0 G e m c ita b in e 6 0 0 M P 0 2 5 0 + p a c lita x e l M P 0 2 5 0 + c is p la tin M P 0 2 5 0 + g e m c ita b in e

6 0 0 1 5 0 0

4 0 0

4 0 0 1 0 0 0

2 0 0

2 0 0 5 0 0 Relative Tumor Volume (%) Volume Tumor Relative

0 0 0 0 1 0 2 0 3 0 0 1 0 2 0 3 0 4 0 1 0 1 5 2 0 2 5 Treatment (days) PDX model, patient-derived xenograft mouse model.

DosingDosing* Exposure Safety Efficacy Convenient, flexible RepeatedFavorable dosingexposure Well tolerated Clear signs of administration resulted in good exposure evenantitumor stand efficacy-alone

. InfusionWell tolerated well tolerated . Sustained drug . Most common AEAE: was . 2Significant patients showedreduction in exposure throughoutover multiple hypertension,hypertension generally significanttumor volume reduction in two in . Dosing2 / 3 weekly every 2 or 3 treatmentcycles (up periodsto 1 yr) (max. well controlled with tumorpatients volume weeks possible . AEs as expected for . Half-life ~2 weeks to date >12 months) standard medication: . Low immunogenicity any VEGF inhibitor . Treatment duration was . Systemic half-life: AEs were as expected . Convenient 1 hr infusion . Only(only 1/401 out patients of 40 ≥3(% moof patients): in 18 patients ~2 weeks for a VEGF inhibitor developedpatients with a relevantrelevant (40%)≥3 months and ≥6for mo40% in titerincrease of ADAs in ADA (>10 titres) fold 4≥6 patients months (10%) for 10% above background)

First-in-human data strongly encourage development of DARPin® therapy via systemic administration

Multiple myeloma

Head & neck EGFR-mutated squamous-cell NSCLC HCC rationale Nasopharyngeal

Colorectal cancer

Biological Biological Anal cancer

Feasibility of internal clinical development*

Bubble size indicates estimated relative market potential (incidences). Source: Datamonitor. *Based on internal assessment on speed to market and complexity of development program. Potential of gastric, renal and other cancers under evaluation.

Bone Marrow Patients HGF score

HGF Resistance to SOC VEGF mAbs 3+ 6/8

VEGF HGF HGF&VEGF 2+ 2/8 Newly On partial diagnosed remission Resistant Relapsed 28% 2% 92% 89%

1+ 0/8

MET

- p p 40% 3% 7%

c-MET c-MET c-MET c-MET

Moschetta M, et al. Clin Cancer Res 2013;19:4371-82; 2. White D, et al. Cancer 2013;119:339-47.

Resistance to SOC induced by VEGF/HGF upregulation HGF VEGF

mAbs

VEGF HGF

+ MP0250 VEGF mAbs

MP0250 breaks the resistance to MM drugs HGF

Vehicle Velcade® MP0250 Velcade® + MP0250

Bone morphology

Muscle invasion by tumor

Xenograft model H929.

© 2018 Molecular Partners AG – Slide 16 Oncology MP0250 Phase 2 Study in MM MP0250 Part 1: Dose Escalation Velcade®/dexamethasone Part 2: Dose Expansion Endpoints: ORR, PFS MP0250 8 mg/kg q3wk Velcade®/dexamethasone RRMM Velcade®/dexamethasone MP0250 target dose Total: n  40 MP0250 12 mg/kg q3wk

. Phase 2 open-label, single-arm, multicenter study of MP0250 + Velcade® + dexamethasone, patients with refractory and relapsed multiple myeloma (RRMM)

. Study population: MM patients with ≥2 lines of therapy, including Velcade® + IMiD, (a) without response to most recent therapy or (b) progression within ≤60 days post most recent treatment . Study status*: Cohort 1 completed in H1 18, Cohort 2 ongoing

. Next readouts: Additional safety and initial efficacy data before end 2018

*Data cut-off: 10 April 2018 Study details: clinicaltrials.gov/NCT03136653.

Preliminary results*: Best responses Treatment duration* (5/8 patients with anti-myeloma activity; excludes non-responders)

Very good partial response Patient103-001 1 Partial response Baseline No response Patient201-002 2

Patient202-001 3 MR

Patient203-001 4 PR

Treatment

Patient101-001 5 stopped VGPR

1 2 3 4 5 6 7 8 9 10 11 12 0 4 8 12 16 20 24 28 32 36 Treatment Cycle Weeks

* Data cut-off: 10 April 2018; Initial dose level: 8mg/kg/3weeks.

© 2018 Molecular Partners AG – Slide 18 Oncology Unique Potential of MP0250 in MM MP0250 . Multiple myeloma: 2nd most common blood cancer . Global market value ~USD 9.8bn, expected to reach > USD 12bn by 2021 (7% CAGR)* 75% 25%

IMiD or PI + mAb Transplant 1st/2nd-line n >100,0001 PI or IMiD + mAb

HGF/ No later-line treatments c-MET target these key escape pathways

PI X MP0250: 3rd/4th-line + MP0250 Potential to become n 30,0001 IMiD Y backbone for all later lines

1. Including US/5EU/JP. Datamonitor.

Preclinical Rationale Clinical Rationale MP0250 in Lung Cancer Model HGF Rationale 3 0 0 0 Activation of MET pathway appears to be significantly involved in acquired resistance to TKI

. HGF/c-MET pathway is most frequently )

3 Vehicle observed non-EGFR related resistance 2 0 0 0 mechanism to TKI1 ® Tarceva® . Savolitinib (c-MET TKI) + osimertinib (Tagrisso ) produced 28% response in patients who failed MP0250 Tagrisso® and showed MET amplification; c-MET

1 0 0 0 amplification (15%) is a subgroup of HGF/c-MET Tumor Volume (mm Volume Tumor MP0250 + upregulation (60–80%)2 Tarceva® VEGF Rationale 0 0 5 1 0 1 5 2 0 2 5 Efficacy of VEGF (anti-angiogenesis) ® 3-4 Treatment (days) already clinically proven: Avastin studies

TKI, tyrosine kinase inhibitor. 1. Chabon JJ, et al. Nat Commun 2016; 2. Spigel R, et al. J Clin Onc 2017; 3. Sandler A, et al. N Engl J Med 2006; 4. Reck M, et al. J Clin Oncol 2009.

NSCLC MP0250 Current Treatment Option 1 Treatment Line Current Treatment Option 2

Iressa® or Tarceva® 1st-line Tagrisso® n  35’0001 HGF/c-MET nd Tagrisso® 2 -line MP0250 + Tagrisso® n  20’0001 Our Phase 2 Study HGF/c-MET rd/ th MP0250 + Tagrisso® 3 4 -line n  15’0001 Our Phase 2 Study

. NSCLC is leading cause of cancer death . Activating EGFR mutations are found in ~40% (Asia), ~20% (US), and ~15% (EU) NSCLC2 . Global market value (EGFR NSCLC) ~USD 2.8bn, expected to reach >3.5bn by 2023 (5% CAGR)3 . No targeted drug approved after patients progress under Tagrisso treatment

1. Including actively treated, Stage IIIb and Stage IV prevalent cases in US/5EU/JP. Based on Datamonitor; 2. Tang, et al. Oncotarget 2016; 3. Datamonitor

Part 1: Dose Escalation Part 2: Dose Expansion Endpoints: n=6 Tagrisso® n=34 ORR, PFS EGFR mut MP0250 8 mg/kg q3wk Tagrisso® NSCLC after Tagrisso Tagrisso® MP0250 target dose n=6 MP0250 12 mg/kg q3wk

. Status: FDA approval Sep 2017 – 1st oncology DARPin® drug candidate in US

. Collaboration with AstraZeneca for Tagrisso ® supply

. 1st patient to be dosed in the coming weeks

. Next readouts: initial safety in 2018 & initial efficacy 2019 *The study details can be found on clinicaltrials.gov/NCT03418532.

© 2018 Molecular Partners AG – Slide 22 Oncology MP0274: Killing HER2+ Cells with New MoA MP0274 HSA . Medical need: eventually advanced cancer patients progress on DARPin® standard antibody-based HER2+ treatments HER2 DARPin® A . MP0274 is an allosteric inhibitor of HER2 blocking HER2- and HER3- mediated signaling and inducing apoptosis . New mode of action: induction of apoptosis in HER2-addicted cancer cells independent of ADCC compared with approved therapies HER2 DARPin® B . MoA may help patients not adequately responding to current therapies

. Ongoing Phase 1 in HER2 positive tumor patients progressing on SOC

. Fully owned by Molecular Partners – IP protection until at least 2037

MP0274 Her2 EC-Domain Trastuzumab & Pertuzumab Bi-paratopic DARPin®

Perjeta

Herceptin

Her2 has several «active sites» Herceptin and Perjeta block MP0274 handcuffs Her2 into fully with conformational flexibility two distinct Her2 functions inactive conformation*, acting as broad-range allosteric inhibitor

Effector-cell independent Apoptosis tumor cell death HER2 HER3 HER1 Natural Killer Cell

HER2 signals tumor cell survival Effector-cell mediated ADCC & proliferation tumor cell death

Herceptin® & Perjeta®

ADCC, antibody-dependent cellular cytotoxicity.

100 1001 0 0 MP0274 MP0274 Ado-trastuzumab 80 808 0 emtansine (Kadcyla®)

60 606 0

% % Killing 40 404 0

Trastuzumab/ 20 Pertuzumab 202 0 (Herceptin®/ Perjeta®) 0 00 0 100 101 102 103 101 0 00 1100 1 101 0 22 1100 3 1100 4 101 0 55 101 066 [nM] [nM] New MoA may help patients who do not adequately respond to current therapies

MP0274

Vehicle Trastuzumab Trastuzumab + Pertuzumab MP0274

Breast cancer PDX model Gastric cancer PDX model Colorectal cancer PDX model Maca4898 (Her2 IHC2+) GXA3039 (Her2 IHC3/2+) CXF1991 (Her2 IHC3+)

2000 8 0 0 1 5 0 0 )

3 1600 6 0 0

1 0 0 0 1200

4 0 0 800 5 0 0 2 0 0

Tumor Volume (mm Volume Tumor 400 Relative Tumor Volume (%) Volume Tumor Relative

0 0 0 0 5 10 15 20 25 0 5 1 0 1 5 2 0 0 5 1 0 1 5 2 0 2 5 3 0

Treatment (days)

© 2018 Molecular Partners AG – Slide 27 Oncology MP0274: Phase 1 Study in HER2+ Cancer Patients MP0274 . Phase 1, first-in-human, single-arm, multicenter, open-label, repeated-dose, dose escalation study – assess safety, tolerability and pharmacokinetics of MP0274 in patients with advanced HER2-positive solid tumors – with expansion cohort at recommended dose to confirm safety and to assess preliminary efficacy . Primary objective: Assess safety and tolerability of MP0274 in heavily pretreated patients with HER2-positive solid tumors who have progressed after standard therapy for advanced disease

. Study treatment: – Dose Escalation (Part A): 4 dose groups – Dose Expansion (Part B) at recommended dose: 26 patients (total of up to 32 patients at target dose) . Status: – First patients dosed; 2nd patient showed changes in ECG parameters, most likely not associated with MP0274 – Pharmacological effect of MP0274, though very unlikely, could not be completely ruled out – Phase 1 enrollment temporarily suspended and additional cohorts to explore lower doses added to protocol – Study recruitment expected to continue in Q3 2018

. Next readouts: Initial safety data expected in Q4 2018 and first efficacy data in 2019

ACTIVATE KILL Costimulatory Targets T-Cell Engagers Immune- cell Toxicity BLOCK Efficacy Checkpoint Targets

Tumor Tumor localized IO agents may achieve both, Cells reduce systemic toxicity and improve efficacy

IN CIRCULATION (SYSTEMIC) IN THE TUMOR IN CIRCULATION (SYSTEMICClustering:) activation of T-cells everywhere in body IN THE TUMOR

Activated Cell Activated Tumor T-cell T-cell Cell

No Clustering = no effect Tumor Clustering: T-cell activation Stroma

Localizer Stimulator SWITCH

All Successful DARPin® Stimulators to Date Without Clustering Without 1 ×101 077 OX-40 5 0 ,0 0 0 4-1BB1 2 0 0 0 CD40

8 ×101 066 4 0 ,0 0 0 1 5 0 0

6 ×101 066 3 0 ,0 0 0 1 0 0 0 4 1 066 2 0 ,0 0 0 4×10 OFF

5 0 0

2 ×101 066 1 0 ,0 0 0 LuminescenceSignal 0 0 0 1 0 - 3 1 0 - 2 1 0 - 1 1 0 0 1 0 1 1 0 2 0 1 0 - 2 1 0 - 1 1 0 0 1 0 1 1 0 2 1 0 - 3 1 0 - 2 1 0 - 1 1 0 0 1 0 1 1 0 2 1 0 3 SWITCH

1 ×101 077 5 0 ,0 0 0 2 0 0 0

ON With ClusteringWith 8 ×101 066 4 0 ,0 0 0 1 5 0 0

6 ×101 066 3 0 ,0 0 0 1 0 0 0

4 ×101 066 2 0 ,0 0 0 OFF 5 0 0

2 ×101 066 1 0 ,0 0 0 Luminescence Signal 0 0 0 1 0 - 3 1 0 - 2 1 0 - 1 1 0 0 1 0 1 1 0 2 0 1 0 - 2 1 0 - 1 1 0 0 1 0 1 1 0 2 1 0 - 3 1 0 - 2 1 0 - 1 1 0 0 1 0 1 1 0 2 1 0 3 ® 1. Link A, et al. EACR 2017. Abstr 576. DARPin Concentration (nM)

Stimulator Switch

OX-40 4-1BB a CD40 c A

FAP MP0310

Localizer C

Many DARPin® candidates are under investigation for both solid and liquid tumors (including combinations)

. FAP: 4-1BB Tumor-restricted expression of FAP used to direct T-cell co-stimulation

HSA DARPin® . Tumor-selective activation of T cells FAP . No systemic side effects expected DARPin® . Potential to combine with other IO SOCs (anti-PD-1, anti-CTLA4)

. Fully owned by Molecular Partners – IP protection at least until 2038 4-1BB DARPin®

FAP, fibroblast activation protein.

No systemic toxicity Ideal for combinations

Vehicle 10 2 0 0 0 4 0 0 0 0 * * *

Body weight loss >10% TAA-CD3-AB * * *

] 3

m TAA-CD3-AB V e h ic le

8 s

l m

1 5 0 0 r 3 0 0 0 0 [

) + MP0310

e c

0 .0 5 m g /k g a n ti-T A A /C D 3

Cells

m T

6 -

v 0 .0 5 m g /k g a n ti-T A A /C D 3 + g

1 0 0 0 D

2 0 0 0 0

C CD8 T CD8

4 2

o 1 .6 m g /k g a n ti-4 -1 B B /F A P

m Animals ( Animals

D A R P in  m o le c u le

e m

2 n

5 0 0 p u

a *** 1 0 0 0 0 e

* * * H 0 M

Control Antibody MP0310 0 0 1/10 8/10 1/10 0 3 7 1 0 1 4 1 6 T re a tm e n t d a y s

. MP0310 shows lower systemic toxicity compared with current therapy

. Would be ideal combination partner with other drugs ***p<0.001, 2-way ANOVA.

. Wet AMD and DME are leading causes of blindness in Western world . Large and rapidly growing group driven by aging population . Current standard of care is Lucentis® or Eylea® – Both require monthly intravitreal injections

. Significant unmet medical need for less frequent injections and doctor office visits

. Long-acting PEGylated mono-DARPin® protein blocking VEGF

. Potentially transformative therapy with less frequent ocular injections compared with standard of care anti-VEGF DARPin® . Phase 2 data suggest quarterly dosing and comparable efficacy to Lucentis® . Drug Safety Monitoring Committee (DSMC): no changes recommended

. Wet AMD Phase 3 one-year data in H2 2018; Allergan plans launch in 2020 . Allergan plans to start DME Phase 3 in H2 2018

© 2018 Molecular Partners AG – Slide 36 Abicipar Phase 2 Data Suggest Quarterly Dosing for Wet AMD Abicipar Change of Best-Corrected Visual Acuity (BCVA)* Safety Data 12 Abicipar 2.0 mg Vision Gain (letters) Safety (n/N) 10 Abicipar 1.0 mg Wk 16 Wk 20 AEs† SE) Lucentis® 0.5 mg ± 8 8.2 9.0 2/23 6.3 7.1 3/25 6 letters 5.3 4.7 0/16 4

The abicipar formulation has been BCVA ( BCVA 2 further optimized for safety for use in Phase 3. 0 0 1 4 8 12 16 20 Week Dosing

Allergan, 12 August 2014. *Study not powered to reach statistical significance; †Ocular inflammation. SE, standard error.

© 2018 Molecular Partners AG – Slide 37 Abicipar CEDAR & SEQUOIA: Abicipar Registration Studies in wet AMD Abicipar Primary Loading Endpoint Extension Doses Week 0 4 8 12 16 20 24 28 32 36 40 44 48 52 104 Abicipar 2 mg q12w Abicipar 2 mg q8w Lucentis® 0.5 mg q4w

. 2 parallel, randomized, double-blind phase 3 studies – 2x 900 patients globally – Patient recruitment completed since early May 2017 (4 months ahead of plan)

. Drug Safety Monitoring Committee (DSMC): no changes recommended

. Next milestones: 1 year topline read-out in 2018 (triggers FDA filing), targeted launch in 2020

Other Aflibercept (Eylea®) 10.0 Ranibizumab (Lucentis®) . USD 8bn annual sales (2016) and 8.3 growing (wet AMD and DME) 8.0 . SOC: Eylea® and Lucentis®: bi-monthly or 6.7 monthly injections 6.0 4.2

4.7 2.7 CAGR: CAGR: 18% 4.0 0.9 . Global license agreement with Allergan— 3.0 all development costs borne by Allergan 2.0 3.7 3.9 3.8 . Up to $360mn open milestones & low 2.9 double-digit to mid-teen tiered royalties 0.0 2010 2012 2014 2016

1. Reported by EvaluatePharma®, a service of Evaluate Ltd. (UK), www.evaluategroup.com. Accessed 27 Apr 2015. *Avastin® is used off label.

2018 2019 2020

wAMD: 1-y Ph 3 efficacy wAMD: expected Abicipar DME: Ph 3 expected start launch in 2020

MM: initial efficacy MM: efficacy NSCLC: efficacy MP0250 NSCLC: initial safety NSCLC: initial efficacy

MP0274 Initial safety Initial efficacy

MP0310 Preclinical data FIH

Funding into 2020

. Successful transition from DARPin® platform into clinical product company

. Key value inflection points ahead: –MP0250 (2x Phase 2) and MP0274 (Phase 1) in oncology –Abicipar (Phase 3 data) in ophthalmology

. MP0310 selected as 1st development candidate from our I/O DARPin® toolbox

. Financed into 2020, capturing key value inflection points

. Keep on forward integrating towards late-stage development and the market

DARPin® is a registered trademark owned by Molecular Partners AG.

Dr. Patrick Amstutz, CEO . Co-founder, former CBO & COO . PhD in molecular biology from UZH

Dr. Andreas Harstrick, CMO, MD . 30 years of experience in oncology, including Erbitux development . Brought four mAb oncology products to market . Senior executive roles at Merck-Serono, Imclone, Eli Lilly

Dr. Michael Stumpp, CSO . Co-founder . PhD and postdoc from UZH; research in Tokyo, London

Andreas Emmenegger, CFO . Joined 2007 as CFO and first investor . Former CFO Glycart and Head Strategic Alliance Genentech at Roche . >20 years experience as CFO of private & listed companies; raised >$0.5bn, including two IPOs

Bill Burns, Chairman Steven H. Holtzman . Former CEO of Roche Pharmaceuticals . President and CEO, Decibel Therapeutics . Former board member of Roche, Genentech, Chugai . Former EVP, Biogen Pharmaceuticals

Göran Ando, Vice Chairman William “Bill” Lee . Former Chairman, Novo Nordisk . EVP Research, Gilead . Former CSO, Pharmacia

Gwen Fyfe Petri Vainio . Former VP, Oncology Development at Genentech . Managing Director, Essex Woodlands Ventures

Patrick Amstutz . Co-founder, CEO Molecular Partners

Financial Guidance for 4 (CHF million; as per IFRS) FY 2017 FY 2016 change Full-Year 2018 . Total expenses of ca. CHF 50-60 Revenues 20.0 23.0 (3.0) million, of which ca. CHF 5 million non-cash effective costs Total expenses1 (45.8) (42.5) (3.3) . Capital expenditures of Operating result – EBIT (25.8) (19.5) (6.3) ca. CHF 3 million on top Net financial result 0.4 0.9 (0.5) . No guidance on net cash flow; timelines and potential milestone Net result (25.4) (18.6) (6.8) payments with partnerships not disclosed

Net cash from (used in) operations (40.0) (35.4) (4.6) . Guidance subject to progress and changes in pipeline Cash balance 141.12 180.23 (39.1)

1 Thereof non-cash costs of CHF 4.9m in FY2017 and CHF 4.7m in FY 2016 2 Including CHF 9.8 million short-term time deposits 3 Including CHF 30.5 million short-term time deposits 4 Financial guidance issued with FY 2017 Results release on February 08, 2018

Shareholder structure as of Dec 31, 2017 Highlights

. VC holdings reduced to 23% (from 42% end of 2016)

23% . Listed on SIX Swiss Exchange (SIX: MOLN) 59% . Included in key indices: SPI, SPI Extra, SXI Life Sciences and SXI Bio+Medtech

18% . 21,044,062 shares outstanding as of December 31, 2017

. CHF 553 million market cap. as of December 31, 2017

. No lock-up restrictions in place Pre-IPO investors (4 VC's) . Formal free float as per SIX definition: 77% Management, Board, Founders Others

© 2018 Molecular Partners AG – Slide 46 Appendix Phase 2 Data Showing Long Duration of Action in DME Abicipar Primary Endpoint Loading Doses Vision gain (letters) Safety Week 0 4 8 12 16 20 24 28 Wk 28 AEs (n/N) Abicipar 2 mg q12w 7.2 4/45 Abicipar 2 mg q8w 7.1 5/41 Abicipar 1 mg q8w 4.9 7/43 Lucentis® 0.5 mg q4w 9.6 0/21 12

10 SE)

± 8 6 The abicipar formulation has 4 been further optimized for

Mean Change in in Change Mean Lucentis® 0.5 mg q4w safety for use in Phase 3. BCVA (letters (letters BCVA 2 Abicipar 2 mg q12w 0 0 1 4 8 12 16 20 24 28 Week

Source: Allergan Q1 2018 Presentation (April 30, 2018).

Source: Allergan Presentation at Leerink Partner conference (Feb 15, 2017).

Date Event

August 30, 2018 Publication of Half-year Results 2018

November 01, 2018 Q3 2018 Management Statement

This presentation is not an offer to sell or a solicitation of offers to purchase or subscribe for shares of Molecular Partners AG, nor shall it or any part of it nor the fact of its distribution form the basis of, or be relied on in connection with, any contract or investment decision. This presentation is not an offering circular within the meaning of Article 652a of the Swiss Code of Obligations, nor is it a listing prospectus as defined in the listing rules of the SIX Swiss Exchange AG or a prospectus under any other applicable laws. Copies of this presentation may not be sent to countries, or distributed in or sent from countries, in which this is barred or prohibited by law. This document is not a prospectus or a prospectus equivalent document and investors should not subscribe for or purchase any securities referred to in this document. This document does not constitute a recommendation regarding the shares. This presentation contains specific forward-looking statements, beliefs or opinions, including statements with respect to the product pipelines, potential benefits of product candidates and objectives, estimated market sizes and opportunities as well as the milestone potential under existing collaboration agreements, which are based on current beliefs, expectations and projections about future events, e.g. statements including terms like “potential”, “believe”, “assume”, “expect”, “forecast”, “project”, “may”, “could”, “might”, “will” or similar expressions. Such forward-looking statements are subject to known and unknown risks, uncertainties and other factors which may result in a substantial divergence between the actual results, financial situation, development or performance of Molecular Partners AG and investments and those explicitly or implicitly presumed in these statements. There are a number of factors that could cause actual results and developments to differ materially from those expressed or implied by these statements and forecasts. Past performance of Molecular Partners AG cannot be relied on as a guide to future performance. Forward-looking statements speak only as of the date of this presentation and Molecular Partners AG, its directors, officers, employees, agents, counsel and advisers expressly disclaim any obligations or undertaking to release any update of, or revisions to, any forward looking statements in this presentation. No statement in this document or any related materials or given at this presentation is intended as a profit forecast or a profit estimate and no statement in this document or any related materials or given at this presentation should be interpreted to mean that earnings per share for the current or future financial periods would necessarily match or exceed historical published earnings per share. As a result, you are cautioned not to place any undue reliance on such forward-looking statements. Unless stated otherwise the information provided in this presentation are based on company information. This presentation is intended to provide a general overview of Molecular Partners AG’s business and does not purport to deal with all aspects and details regarding Molecular Partners AG. Accordingly, neither Molecular Partners AG nor any of its directors, officers, employees, agents, counsel or advisers nor any other person makes any representation or warranty, express or implied, as to, and accordingly no reliance should be placed on, the accuracy or completeness of the information contained in the presentation or of the views given or implied. Neither Molecular Partners AG nor any of its directors, officers, employees, agents, counsel or advisers nor any other person shall have any liability whatsoever for any errors or omissions or any loss howsoever arising, directly or indirectly, from any use of this information or its contents or otherwise arising in connection therewith. The material contained in this presentation reflects current legislation and the business and financial affairs of Molecular Partners AG which are subject to change and audit. © 2018 Molecular Partners AG – Slide 50 Molecular Partners AG Wagistrasse 14 8952 Zürich-Schlieren Switzerland www.molecularpartners.com T +41 44 755 77 00