P I O N E E R I N G N E W F R O N T I E R S I N M E D I C I N E

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Important Information

2

PureTech Health is a biopharma company developing therapeutics focused on theBrain-Immune-Gut (BIG) Axis across two divisions

3*As of 30 June 2018

Affiliates(7 out of 11 affiliates are clinical stage)

Phase 1 Phase 2 Phase 3 / Pivotal FDA FilingPreclinical

BRAIN

IMMUNE

GUT

Internal R&DTissue-selective immunomodulation

7 clinical-stage programs with two FDA filings

Partnerships with 8 major pharma companies

LSE Main Market / FTSE-indexed (PRTC)

$196.7M cash at PureTech level + $220.2M cash in Affiliates*

Team with proven track record of developing new therapeutics and building shareholder value

4

Board of Directors

Eric Elenko, PhD Co-founder & Chief Innovation Officer

PureTech Health

Formerly McKinsey, UCSD

Executive Team

Bharatt Chowrira, PhD, JD President & Chief of Business PureTech Health

Former COO Auspex (acq by Teva $3.5B), SIRNA

(acq by Merck $1.1B), Nektar ($5B+ MC)

Daphne Zohar Founder & Chief Executive Officer PureTech

Health, Board Member; Recognized as a top

leader and innovator in biotechnology by EY,

BioWorld, Scientific American, and others

Joseph Bolen, PhD Chief Scientific Officer PureTech Health

Former CSO Millennium (acq by Takeda

$8.8B), Moderna

Joep Muijrers, PhDChief Financial Officer PureTech Health

Former Portfolio Manager at LSP – generated

900%+ return (2x of NBI during same period)

Stephen Muniz, Esq. Co-founder & Chief Operating Officer

PureTech Health & Board Member

Former Partner Locke Lorde

Robert Horvitz, PhD MIT, HHMI, Nobel Prize in Medicine

(PureTech SAB Chair & Board Advisor)

Joi Ito MIT Media Lab Director and early

investor in Twitter, Kickstarter

Dame Marjorie Scardino Former CEO Pearson, MacArthur

Foundation Chair, Twitter Board

Raju Kucherlapati, PhDHarvard, Co-Founder of Millennium

(acq by Takeda $8.8B) & Abgenix (acq by

Amgen $2.2B)

Christopher Viehbacher Former CEO & Board Member at Sanofi

President & Board Member at GSK, Completed

over $30B in acquisitions

Ben Shapiro, MD Former EVP of Research at Merck

John LaMattina, PhD Former President of Pfizer Global R&D

Robert Langer, ScD MIT, Award winning materials science pioneer,

Former member of the United States FDA’s

SCIENCE Board

Internal R&D: Focusing on the Axis through the lens of tissue-selective immunomodulation

5

Our approaches to tissue-selective immunomodulation:

Target newly discovered

foundational immunosuppressive

mechanisms in oncology

Harness the lymphatic

infrastructure for autoimmune,

oncology, and CNS indications

The internal pipeline: Tissue-selective immunomodulation for oncology and immune indications

6

Collaboration with Roche (PureTech Health to receive up to $36 million in upfront payments,

research support, and early preclinical milestones and is eligible to potentially receive over

$1 billion in development milestones)

Discovery Lead Optimization IND-Enabling Phase 1 Phase 2 Phase 3

Our Programs

Expect to file IND H1 2020

Lymphatic therapeutics program #1

Lymphatic therapeutics program #2

Solid Tumors

Solid Tumors

LYT-200Anti-Galectin-9 MAb

LYT-210Anti-Delta-1 MAb

Lymphatic therapeutics program #3 (CNS)

CancerCancerCancer Cancer

Immunosuppression

αβT

Cancer Cancer

Macro-phage

γδT

Galectin-9

γδT

Galectin-9

Anti-Galectin-9 mAb

Anti-γδ T cell mAb

LYT-200 and LYT-210: Developing novel therapeutics which target newly discovered immunosuppressive mechanisms in oncology

7Note: Relevant IP licensed to PureTech Health from George Miller’s lab (NYU)Nat Med. 2017 May;23(5):556-567; Cell. 2016 Sep 8;166(6):1485-1499.e15

γδ T cells depletion and blocking

prolong survival of KPC mice

Significant extension of survival in animal

models of pancreatic cancer (KPC mice)

mAb to immunosuppressive γδ T cellsmAb to Galectin-9

• Single agent activity with the option to test in combination with various IO agents

• Fully human lead clinical clones with relevant species cross-reactivity to be tested in IND-enabling studies

LYT-200 and LYT-210 targets are foundational immune modulators

Image adapted from Oncogene. 2015 Jun 11;34(24):3085-94.

• Galectin-9 is a global immune

regulator in health and disease

(pregnancy, inflammation, auto-

immune disease, cancer)

• Galectin-9 mediates multiple

pathways of

immunosuppression in tumors

and periphery

• Galectin-9 can be expressed

in/on tumors and secreted into

circulation

• Targeting galectin-9 can

therefore enable pleiotropic anti-

tumor effects

• Solid tumors (pancreatic

cancer, melanoma,

glioblastoma, breast cancer

etc.) harbour γδ1 T cells with

immunosuppressive and pro-

tumorigenic capacity

• Abundance of circulating

immunosuppressive γδ T

cells predicts unfavourable

response to anti-CTLA4 therapy

in melanoma

• Targeting γδ1 T cells has

capacity to modulate both

innate and adaptive immunity

mAb to immunosuppressive γδ T cellsmAb to Galectin-9

8

9* Robust T cell activation observed in 70% of tumors assessed

LYT-200: Anti-Galectin-9 mAb program – examples of pre-clinical data

Galectin-9 expression increases in tumors Treatment with anti-Gal-9 mAb

shows efficacy in pancreatic

cancer mouse model (KPC)

1 2

• Efficacy observed in

melanoma model B16F10

• Assessing efficacy in other

tumor models

Treatment with anti-Gal-9 mAbs induces

activation of T cells in patients’ tumors*

Patient derived samples used

PBMC Patient Tumor InfiltratePBMC Normal

\

1

2

Single agent efficacy

Synergy with αPD-1

% c

ells

exp

ressin

g G

al-

9

10PDA: Pancreatic Ductal Adenocarcinoma* Robust T cell activation observed in 75% of tumors assessed

LYT-210: Anti-Delta-1 mAb program – biology and pre-clinical data

Immunosuppressive γδ1 T cells are present in

human PDA tumors

Treatment with anti-δ1 mAb induces activation of

T cells in patients’ tumors*

γδ1 T cells adopt an effector memory phenotype

γ9δ2 T cells that have cytotoxic function are less

abundant in human tumors

11

Proposed clinical trial design: A Phase 1/2 open-label study using LYT-200 (anti-galectin-9 monoclonal antibody) in patients with metastatic solid tumors

Filip

Janku

Osama

Rahma

Jedd

Wolchok

Aparna

Parikh

Richard

Carvajal

Zev

Wainberg

Neil

Segal

Daniel

Cho

3+3 Dose Finding (all comers), Safety, Tolerability, MTD, PK/PD

n ~ 20

Safety confirmation, capturing early efficacy

signal for expansion- exploratory endpoints -

Pancreatic

single agent/combo

Colorectal

single agent/combo

Other amenable

GI/non-GI indications

single agent/combo

Master Protocol

Further expansion aimed at enabling

accelerated approval

single agent and/or combo

Clinical Investigators

Circulatory Vasculature : providing

avenues of transport for blood cells and

nutrients

Lymphatic Vasculature: critical

infrastructure for interstitial fluid

drainage and trafficking and

programming of immune cells

Targeting the lymphatic infrastructure enables new approaches for tissue-selective immunomodulation

12

Conventional

Approach

PureTech’s

Approach

Lymph nodes program immune cell function via the lymphatic system

13Lymph node image: https://www.medpagetoday.com/resource-centers/gi-cancer/lymph-node-dissection-management-high-risk-renal-cell-carcinoma/1842

Lymph nodes serve as key

sites for tissue-specific cell

programming

Brain

Deep cervical lymph

nodes

GI

Mesenteric lymph nodes

Oncology

Lymphatic-mediated metastases

Contents including immune

cells shuttle between tissues

and lymph nodes

Harnessing the immune cell trafficking highway – lymphatics – to develop novel immunomodulation therapeutics

PureTech’s approach enables our therapeutics to:

Target the mesenteric lymph nodes – the largest

collection of lymph nodes in the body which represent the

site of immune programming for 50 – 70% of circulating

adaptive immune cells

Bypass first-pass metabolism by the liver

Leverage immune cell trafficking from the gut to distal

sites in the body

14

PureTech’s Affiliates

15

* Relevant ownership interests were calculated on a diluted basis as of 12/31/17 (other than resTORbio: 1/31/18; Gelesis: 3/1/18; Karuna: 8/2/18; Akili: 8/9/18; Vedanta: 12/24/18), including issued and outstanding shares, outstanding options and warrants, and written commitments to issue options, but excluding unallocated shares authorized to be issued pursuant to equity incentive plans and any shares issuable upon conversion of outstanding convertible promissory notes.

BR

AIN

IMM

UN

EG

UT

Affiliate PRTC Ownership* Phase 1 Phase 2 Phase 3 / Pivotal FDA FilingPreclinical

58.4%

34.2%

55.6%

63.0%

37.9%

93.1%

82.8%

81.3%

73.9%

90.0%

20.5%

Industry Relationships

PureTech Health is developing therapeutics across the Brain-Immune-Gut AxisB

RA

INIM

MU

NE

GU

T

Modulating specific neural systems affected by cognitive disorders and neuroinflammation

Targeting muscarinic receptors in the brain while overcoming GI tolerability issues

Developing vocal biomarkers spanning neurological, immune & other conditions

Inhibiting TORC1 for conditions of aging e.g., immunosenescence & neurodegeneration

Modulating the immune system via the gut microbiome

Tuning the developing immune system through the maternal & pediatric microbiome

Site specific inflammation targeting that spares non-inflamed tissue in GI & other systems

Selectively targeting cancer cells while sparing normal cells using modified HSCs

Enabling follicle neogenesis and skin rejuvenation through immune response to wounding

Developing mechanotherapeutics to treat obesity, GI disorders & repair the gut barrier

Enabling the delivery of biologics via the gut epithelium to local and distal sites of the body

16

Strong cash position with top affiliates providing multiple monetization and growth opportunities

17* As of June 30, 2018 ** Please reference slide 15 for ownership measurement dates; *** Source: Jefferies, Liberum, Peel Hunt, BAML, Wedbush, Evercore analyst estimates on un-risk-adjusted WW peak sales. Note: The future market estimates show above have been determined by analysts, independent of PureTech Health. The actual market sizes for PureTech Health’s products may differ materially from these estimates and PureTech Health provides no assurance or guarantee that the market estimate shown above will be achieved.

Cash at PureTech level

$196.7M*

Plus cash in Affiliates

$220.2M*

ADHD

Obesity

Immune function in elderly (RTIs)

Schizophrenia

Filed Gelesis100 with the

FDA in 2018

Positive Phase 2b trial

readout; NASDAQ: TORC

Initiated Phase 2 seeking to replicate

strong efficacy data following

improved tolerability readouts

Multiple clinical stage programs

and partnershipsInflammatory bowel disease & recurrentC. difficile infection

$260 – 600M

Additional Indications:

depression, multiple sclerosis

$1.1 – 3B

Additional Indications: Parkinson’s

disease, additional infections

$500M

Additional Indications:

NAFLD/NASH, glycemic control

$1B

Additional Indications:

pain, Alzheimer’s disease

$1B & $500M

Additional Indications: food allergy,

cancer immunotherapy

Initial

indicationStatus

Analyst estimates of

potential peak sales***

Filed AKL-T01 with the FDA

in 2018

Affiliate &

PRTC Ownership**

37.9%

20.5%

34.2%

58.4%

63.0%

DELIVERED:

Two positive pivotal studies

Multiple non-dilutive financings

$94M in affiliate financings

Lilly collaboration

Potential drivers of future value

18

Note: Valuations on and after December 31, 2014 through December 31, 2016 are calculated based on NAV + cash at PureTech Health corporate level; valuations prior to 31 December 2014 are calculated based on post-money financing valuations; PureTech Health stopped disclosing NAV from 2017 onward; PureTech’s current market capitalization is approximately $630 million (January 3, 2019). * These represent potential events that the Company anticipates may occur in 2019 and thereafter but there can be no assurance that any of these events will take place within such time frame or at all.

2009 2014 2016

NAV Corporate Cash

DELIVERED:

Two FDA filings

Roche collaboration with $1B in potential

R&D payments

One NASDAQ IPO

Multiple data readouts

$251M in affiliatefinancings

$100M PureTech Health financing

$53M$276M

$573M

2017 2018

Market Cap ~$630M

Potential valuation gap closing

with time and exposure to

anticipated value drivers:

Affiliates trade sales and licensing deals

IPO of affiliates &sale of equity

Royalties from affiliates

Additional partnerships for Internal division

Continued advancement of Internal division

2019+*

PureTech’s asset value has multiplied since IPO

Numerous upcoming milestones are expected to drive PureTech’s value in 2019

19

• Initiation of Ph3 in RTIs

• Initiation of proof-of concept in PD

• FDA clearance of AKL-T01 in pediatric ADHD

• Proof-of-concept results in additional indications

• Initiation of pivotal study in androgenetic alopecia

following completion of ongoing optimization study

BRAIN

IMMUNE

IMMUNE

Financings & strategic transactions likely

Continued progress of Internal division and pre-clinical affiliates

Upcoming Milestones

• Topline data results from Ph2

• Initiation of proof-of-concept in additional indication

BRAIN

• FDA clearance of Gelesis100 in weight loss

• Initiation of pilot studies in NASH/NAFLD

• Conference presentations

GUT

• Initiation of Ph1 in food allergy

• Initiation of Ph1 for cancer immunotherapy candidate

IMMUNE

• IND-enabling CMC and related activities for LYT-200

• Potential conference presentations on LYT-200 and

LYT-210

• Continued development of milk exosome technology

in collaboration with Roche

• Selection of clinical candidates for lymphatic

therapeutics programs

IMMUNE

20

Summary of PureTech Health

LSE Main Market / FTSE-indexed: PRTC – Market capitalization

~$640M (~£485M) as of January 28, 2019; 1.316 USD:GBP

Jefferies International Peel Hunt LLP Liberum

Peter Welford Amy Walker Graham Doyle

Analyst Coverage

Headquartered in Boston/Cambridge

Group cash and short term investments of $416.9M

($196.7M at the PureTech Health level) as of June 30, 2018

282,493,867 outstanding shares

Disclosed Shareholders include: Invesco Asset

Management Limited, Lansdowne Partners

International Limited, Baillie Gifford & Co., Jupiter

Asset Management Ltd., and Recordati SA

~12%

~43%

~45%

Board & Management

Disclosed Shareholders

Other Shareholders

P I O N E E R I N G N E W F R O N T I E R S I N M E D I C I N E