2 DISCLAIMER This document which is personal to

2 DISCLAIMER This document, which is personal to the recipient and has also been prepared by, and is the sole responsibility of, 4 D pharma plc (the “Company”), comprises these presentation slides (the “Slides”) for the sole use at a presentation concerning the Company. The information in these Slides does not constitute or form part of an admission document, listing particulars or prospectus relating to the Company or any subsidiary of the Company (together the “Group”), does not constitute an offer or invitation to purchase or subscribe for any securities of the Company, and should not be relied upon in connection with a decision to purchase or subscribe for any such securities. The Slides and the accompanying verbal presentation do not constitute a recommendation regarding any decision to sell or purchase securities in the Company. 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By attending the presentation and/or accepting this document you agree to be bound by the foregoing limitations and restrictions and, in particular, will be taken to have represented, warranted and undertaken that you have read and agree to comply with the contents of this notice. © 4 D pharma plc

The Company © 4 D pharma plc

4 4 D PHARMA – WORLD LEADER IN LIVE BIOTHERAPEUTICS Live Biotherapeutics • Single-strain commensal bacteria encapsulated for oral delivery • Highly favourable toxicity/side-effect profile • Accelerated preclinical development and early in-patient data Industry leader with differentiated approach • 4 D pharma is an integrated platform & product company • Mechanistic approach focused on function: targeting and addressing Microbiome: single strain known disease pathways via effector molecules • Mechanistic approach • Sector-leading IP estate; more than 400 granted patents • Target and address same pathways as • Multiple value inflection points; proof-of-concept clinical data on the • Only 4 D in clinic across multiple disease horizon traditional drugs areas Breakthrough class of medicines with potential to change the way we treat disease The Company

5 4 D PHARMA – AN INTEGRATED ‘END-TO-END’ MICROBIOME PLAYER Micro. Rx® platform Research Well understood pathways Focus on functionality Development + Manufacturing Glass to stainless steel in-house c. GMP certified Late-stage clinical/commercial-scale production Phase I cancer combination therapy enrolling Clinical Phase II IBS enrolling Up to 3 further clinical studies in 2019 The Company

Platform & Pipeline © 4 D pharma plc

7 FOCUS ON FUNCTIONALITY: MICRORX PLATFORM Isolation Product development • Significant culturomics expertise • Integrated scale-up and optimization • Broad coverage and diversity • Previously unisolated organisms • Strain-specific fermentation and formulation 1 7 Host-response assays 2 • Suite of host cells, spheroids/ organoids • Host receptor identification Strain engineering • Gene disruption/ deletion • Recombinant protein expression 6 3 Micro. Rx® • Whole genome sequencing Micro. Rx 5 Genome mining • Comparative genomics and bioinformatics 4 Proteomics/lipidomics Metabolomics • Cell surface shaving • Metabolomic fractionation • Characterisation of secreted proteins • Targeted and driven by host signalling data • Exhaustive profiling of effector molecules Platform and Pipeline © 4 D pharma plc

8 CORE PIPELINE ADDRESSING KEY GLOBAL DISEASES DISCOVERY PRECLINICAL DEVELOPMENT PHASE III Focus Immuno-oncology MRx 0518 Solid tumours – Combination study with Keytruda ® MRx 0518 Solid Phase I/II study enrolling MRx 0518 Solid tumours – Monotherapy study (Tx naïve neoadjuvant) Phase I study opening Q 1 2019 MRx 0518 Pancreatic cancer – Monotherapy study (neoadjuvant) Phase I study opening H 2 2019 MRx 0005 Immuno-oncology MRx 0029 Immuno-oncology Gastro-intestinal Blautix® Irritable Bowel Syndrome Thetanix® Crohn’s Disease Phase II enrolling Phase II in planning Respiratory MRx-4 DP 0004 Asthma CNS Neurodegeneration Platform Rosburix® Ulcerative Colitis MRx 0006 Rheumatoid Arthritis MRx 0002 Multiple Sclerosis Autism Platform and Pipeline Phase I/II opening Q 2 2019

9 SECTOR LEADING PATENT PORTFOLIO 50+ Patent families 400+ Granted patents 400+ Patent applications Additional filings have been made to protect newly identified aspects of our bacteria including • • Effects on the host microbiome Combinations with other/established therapies Platform and Pipeline “a pharmaceutical composition that comprises …. a bacteria strain of the species Enterococcus gallinarum…” “…a bacteria strain that comprises a gene sequence with at least 95% sequence identity to…” “wherein said bacteria strain has a carbohydrate fermentation profile that comprises…” “wherein said bacteria is lyophilised” “…wherein said pharmaceutical composition is formulated for oral delivery” “method for treating a disorder selected from…” “a method of making a pharmaceutical composition that comprises the bacterial species…” “[a bacterial] polypeptide…for the treatment and/or prevention of…”

Focus Programme 1: Immuno-oncology © 4 D pharma plc

11 IMMUNO-ONCOLOGY LEAD PROGRAMME: MRX 0518 MRx 0518 Genus: Enterococcus Gram-positive, motile anaerobe Primary Mo. A TLR 5 agonist Primary Effector Molecule Fli. C flagellin protein Host-response Strong, consistent immunostimulatory profile Efficacy Reduction of tumour growth; monotherapy/combination Lauté-Caly et al. , Sci Rep 2019 Three clinical studies in 2019: • Solid tumours: Phase I combination with Keytruda® currently enrolling, 2 year study, USA • Solid tumours: Phase I monotherapy neoadjuvant study in treatment naïve patients to open and begin enrolling Q 1 2019, 2 year study, UK • Pancreatic cancer: Phase I/II neoadjuvant study to open and begin enrolling H 2 2019, USA Focus programme 1: Immuno-oncology © 4 D pharma plc

12 MRX 0518: PRECLINICAL EFFICACY AND MECHANISM Efficacy in multiple tumour types • MRx 0518 shows efficacy across different syngeneic tumour models as a monotherapy – Breast cancer (EMT 6) – Lung cancer (LLC 1) – Kidney cancer (RENCA) • MRx 0518 boosts the efficacy of checkpoint blockade Mechanism of action • The proposed molecular/cellular events underlying the antitumorigenic effects of MRx 0518 include: – Flagellin/TLR 5 -mediated NF-κB activation – Strong induction of chemokine (CCL 20, CXCL 1, -9, 10) and cytokine (IFNγ, TNFα, IL-8, IL-17) responses – Activation and tumour-trafficking of DCs, CD 4 (Th 1) cells, CD 8 cells and NK cells Focus programme 1: Immuno-oncology Tumour immune cell populations

13 MRX 0518: ONGOING COMBINATION STUDY WITH ANTI-PD-1 Combination study with Keytruda • Assessing ability of MRx 0518 to re-engage immune system to respond to checkpoint blockade in four different solid tumour types (melanoma, bladder, renal and NSCLC) • Primary endpoint: safety and tolerability • Secondary and other endpoints: tumour response, overall survival, immunological biomarkers, microbiome profile • Site currently enrolling • Principal Investigator: Dr. Shubham Pant, MD Anderson Focus programme 1: Immuno-oncology

14 NEXT STEPS IN IMMUNO-ONCOLOGY 2 nd Gen LBPs Clinical Study 3 Clinical Study 2 MRx 0029 MRx 0518 • • Neurological cancers • Solid tumours • Pancreatic cancer Immunostimulatory in glioblastoma/ neuroblastoma cells • Neoadjuvant in treatment -naïve patients undergoing surgical resection • Neoadjuvant in combination with stereotactic radiotherapy • Long-term collaboration with MD Anderson • Expected to commence H 2 2019 MRx 0005 • • Gastro-intestinal cancers • Imperial College, London HDAC 1 inhibition • Expected to commence Q 1 2019 Focus programme 1: Immuno-oncology © 4 D pharma plc

Focus Programme 2: Gastro-intestinal © 4 D pharma plc

16 GASTRO-INTESTINAL PROGRAMME: BLAUTIX (IBS) Blautix Genus: Blautia Non-motile; strict anaerobe Clinical Observational Study: Primary Mo. A H 2 depletion; acetate production; ↑ microbiome diversity Preclinical Efficacy Humanised microbiota model Clinical Data Phase Ib: Symptom improvement 82% Blautix vs. 50% placebo • Microbiome of IBS patients significantly different from healthy individuals • All IBS sub-types (-C, -D or –M) have significantly reduced diversity and are statistically indistinguishable from each other Jeffery et al. , IHMC 2018 Ongoing Phase II Study: • Phase II placebo controlled study in 500 IBS-C/IBC-D patients • Currently enrolling • Futility analysis expected H 2 2019 • US sites x 8 • Lead Investigator: Prof. Eamon Quigley, Chair of Medicine in Digestive Disorders, Houston Methodist Focus Programme 2: Gastro-intestinal © 4 D pharma plc

17 BLAUTIX CLINICAL AND PRECLINICAL DATA Humanised microbiota models Decrease in visceral hypersensitivity • Germ-free rats • Transplanted with microbiota from IBS patient Control Blautix • Induces IBS symptoms • Symptoms significantly reduced with Blautix Phase Ib Clinical Trial Phase Ib study results • 24 IBS pts (16 received Blautix; 8 placebo) Subgroup A (n = 24) • IBS patients • 16 received Blautix • 8 received placebo • Safe and well tolerated • Patients with overall improved symptoms: 82% Blautix vs. 50% placebo • Increase in microbiome diversity and stability Subgroup B (n = 24) • Healthy individuals • 16 received Blautix • 8 received placebo Stevenson et al. , DDW 2018 (Poster) Focus Programme 2: Gastro-intestinal © 4 D Pharma plc

18 BLAUTIX: ONGOING PHASE II TRIAL IN IBS-C AND IBS-D Parallel cohorts of IBS-C and IBS-D patients to assess efficacy versus placebo Trial design and patient recruitment Secondary endpoints and analysis • Blautix and placebo treatment groups • • Up to 500 patients across IBS-C and -D Secondary endpoints: pain, stool consistency, stool frequency • Sites across US UK and EU; Study currently enrolling • Microbiome analysis, inflammatory markers Primary endpoint • Response rate based on pain and defecation (FDAapproved endpoint) Focus Programme 2: Gastro-intestinal Principal Investigator: Prof. Eamon Quigley, Chair of Medicine in Digestive Disorders, Houston Methodist © 4 D pharma plc

19 NEXT STEPS IN GASTRO-INTESTINAL DISEASE: THETANIX (PAEDIATRIC CROHN’S DISEASE) Preclinical Phase II Phase Ib Mechanism of action Met primary objective Working study design • • FDA orphan designation • Maintenance study • Paediatric population with CD • Paediatric population • Primary endpoint: rate of relapse • Secondary endpoints: safety/tolerability, reduction in p. CDAI* • Exploratory: Micro. Dx microbiome analysis, calprotectin • Inhibits NF-ᴋB activation and expression of inflammatory cytokines Identified pirin-like protein effector molecule In vivo • • Efficacy in IL-10 KO and DSS-induced models Significant reduction in intestinal inflammation • Five centres across UK • Safe and well tolerated • Single and multi-dose • Effects on microbiome and inflammatory markers in subset of patients *Crohn’s disease activity index Focus Programme 2: Gastro-intestinal © 4 D pharma plc

Focus Programme 3: Respiratory © 4 D pharma plc

21 ASTHMA PROGRAMME OVERVIEW MRx 4 DP 0004 Gram-positive anaerobe Primary Mo. A Induction of T cell and reduction of DC subsets Candidate Effector Molecule Exopolysaccharide (EPS) Efficacy Strong efficacy in steroidresistant model of severe asthma Raftis et al. , Sci Rep 2018 Upcoming Clinical Study: • Phase I/II placebo controlled study in 90 eosinophilic, neutrophilic, mixed asthma patients • CTA cleared by MHRA; IND filing Q 1 2019; expected IND clearance and study open Q 2 2019 • Readouts expected 2020 • Lead Investigator: Prof. Chris Brightling Focus Programme 3: Respiratory © 4 D pharma plc

22 ASTHMA UPCOMING PHASE I/II TRIAL Phase I/II Study Design Target Product Profile Primary endpoint • Long-term therapy to control symptoms and prevent exacerbations • • Daily oral treatment in addition to ICS/LABA inhalers Secondary endpoints: Study design Safety and tolerability of MRx 4 DP 0004 in addition to long term maintenance therapy • Reduction of asthma symptoms, exacerbations and hospitalizations and achievement of good asthma control Changes in microbiome profile • Patient population: eosinophilic, neutrophilic, mixed • 90 patients • • Commencing Q 2 2019 Principal Investigator: Prof. Chris Brightling, University of Leicester (mepolizumab, benralizumab) Focus Programme 3: Respiratory © 4 D pharma plc

Focus Programme 4: CNS Disease © 4 D pharma plc

24 NEURODEGENERATION: PARKINSON’S & ALZHEIMERS DISEASE Pre-clinical efficacy Candidate Strains Gram-negative anaerobes Neuroinflammation & neuroprotection In vitro • Reduced IL-6 expression; TLR activation Primary Mo. A Lineage-specific neuronal markers and differentiation of specific neuronal signatures relevant for MS, PD and AD In vivo • Reduced amygdala IL-6 expression • Increased amygdala BDNF expression IL-6 expression (amygdala) BDNF expression (amygdala) In vitro & In vivo efficacy • Anti-inflammatory • Neuroprotective • Gut barrier function Efficacy in vivo MPTP model of Parkinson’s disease Animal Models • MPTP model of Parkinson’s disease • Significant effects on primary efficacy readouts Focus Programme 4: CNS Disease © 4 D pharma plc

Going Forward © 4 D pharma plc

26 KEY COMPANY STATISTICS 2014 Year Founded Investors 120+ Employees 1 Scalable platform 400+ Ordinary shares held 3 % Woodford Investment Management 19, 640, 670 29. 99% Invesco Asset Management Limited 9, 163, 617 13. 99% Lansdowne Partners 4, 816, 517 7. 35% Janus Henderson Group 4, 228, 522 6. 46% Baillie Gifford and Co. 1, 893, 902 2. 89% Ruffer 751, 631 1. 15% Granted patents 20+ mn Capsules per year £ 86. 3 mn Market cap 1 £ 37 mn Cash 2 310. 00 – 88. 00 p Going Forward 52 week range 1 February 5 th 2019 2 June 30 th 2018; reported Sep 28 th 2018 3 January 9 th 2019 © 4 D pharma plc

27 COMPANY ACHIEVEMENTS AND LBP DEVELOPMENT MILESTONES Platform & IP ü Built and validated Micro. Rx platform for selecting LBP candidates ü Demonstrated single-strain LBPs can impact disease and modulate microbiome ü Demonstrated importance of bacterial functionality through identification of effector molecules ü 400+ patents granted across US, EU and Ro. W CMC ü c. GMP certification granted for commercial-scale manufacturing facility ü Nine programmes taken through scale-up and development cycle Clinical & Regulatory ü Strategic collaboration with MD Anderson to develop 4 D’s oncology LBP portfolio ü Clinical collaboration with Merck and Co. for a clinical study of MRx 0518 in combination with Keytruda® ü FDA approval to commence study and site open for recruitment ü Positive Data from Thetanix phase Ib study in paediatric Crohn’s disease ü Commenced IBS Phase II; largest LBP study conducted to date; 8 sites open across US ü Regulatory approval to commence monotherapy IO and phase I/II asthma studies Going Forward © 4 D pharma plc

28 4 D PHARMA IN 2021 Corporate • Global shareholder list • Platform and co-development partnerships • Bring in US and clinical development experience to the board Research • Strategic partnerships with additional US cancer institutions • First-generation LBPs in CNS disease • Second-generation LBPs in oncology • Access new therapeutic areas; driven by biopharma partners Clinical & Regulatory Going Forward • Readouts for first and second generation oncology LBPs • Initiation of pivotal studies for MRx 0518 • Blautix IBS phase III pivotal study • Asthma phase II study © 4 D pharma plc

29 4 D PHARMA – WORLD LEADER IN LIVE BIOTHERAPEUTICS Live Biotherapeutics • Single-strain commensal bacteria encapsulated for oral delivery • Highly favourable toxicity/side-effect profile • Accelerated preclinical development and early in-patient data Industry leader with differentiated approach • 4 D pharma is an integrated platform & product company • Mechanistic approach focused on function: targeting and addressing Microbiome: single strain known disease pathways via effector molecules • Mechanistic approach • Sector-leading IP estate; more than 400 granted patents • Target and address same pathways as • Multiple value inflection points; proof-of-concept clinical data on the • Only 4 D in clinic across multiple disease horizon traditional drugs areas Breakthrough class of medicines with potential to change the way we treat disease Going Forward