Aadi Bioscience : JPMorgan Healthcare Conference Meetings Presentation

JPMorgan Healthcare Conference Meetings

January 2023

Forward-Looking Statements

Certain statements contained in this presentation regarding matters that are not historical facts, are forward-looking statements within the meaning of Section 21E of the Securities and Exchange Act of 1934, as amended, and the Private Securities Litigation Act of 1995, known as the PSLRA. These include statements regarding management's intention, plans, beliefs, expectations or forecasts for the future, and, therefore, you are cautioned not to place undue reliance on them. No forward- looking statement can be guaranteed, and actual results may differ materially from those projected. Aadi Bioscience, Inc. ("Aadi") undertakes no obligation to publicly update any forward-looking statement, whether as a result of new information, future events or otherwise, except to the extent required by law. We use words such as "anticipates," "believes," "plans," "expects," "projects," "intends," "may," "will," "should," "could," "estimates," "predicts," "potential," "continue," "guidance," and similar expressions to identify these forward-looking statements that are intended to be covered by the safe-harbor provisions of the PSLRA.

Such forward-looking statements are based on our expectations and involve risks and uncertainties; consequently, actual results may differ materially from those expressed or implied in the statements due to a number of factors, including, but not limited to, Aadi's plans to develop and commercialize its product candidates, including FYARRO® (nab-sirolimus,ABI-009); Aadi's commercialization, marketing and manufacturing capabilities and strategy; the clinical utility, potential benefits and market acceptance of FYARRO; risks related to the sufficiency Aadi's cash balance to fund operations; the timing of Aadi's clinical trials; the timing of the availability of data from Aadi's clinical trials; Aadi's plans to research, develop and commercialize its current and future product candidates; Aadi's ability to successfully enter into collaborations, and to fulfill its obligations under any such collaboration agreements; Aadi's ability to identify additional products or product candidates with significant commercial potential; developments and projections relating to Aadi's competitors and our its industry; the impact of government laws and regulations; Aadi's ability to protect its intellectual property position; the impact of the COVID-19 outbreak on Aadi's operations, the biotechnology industry and the economy generally and Aadi's estimates regarding future revenue, expenses, capital requirements and need for additional financing.

These risks are described in detail under the caption "Risk Factors" in Aadi's Quarterly Report on Form 10-Q for the quarter ended March 31, 2022, filed with the Securities and Exchange Commission (the "SEC") on May 12, 2022, and other documents filed from time to time with the SEC. Forward-looking statements included in this presentation are based on information available to Aadi as of the date of this presentation. Except as required by law, Aadi undertakes no obligation to revise or update any forward-looking statement, whether as a result of new information, future events or otherwise.

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Aadi Bioscience is a Commercial-Stage Precision Oncology Company Re-engineering mTOR Inhibition

®

→ Commercializing FYARRO® for	®
treatment of Advanced Malignant PEComa

• Technology based on nanoparticle

albumin-based (nab) platform proven with ABRAXANE®

• Focus on cancers that are highly mTOR dependent
• PRECISION 1 registrational trial in tumor-agnostic
  TSC1 or TSC2 inactivating alterations in solid tumors now actively enrolling
• $72.5 million financing in Sept 2022 extends cash
  runway into 2025, supporting expanded development of FYARRO into potential new indications, and the continued progression of PRECISION 1 registrational trial and FYARRO commercialization

3 *FYARRO FDA approval Nov 2021

Great Science

Attracts Great People

Extensive pharma experience on building blockbuster oncology brands

Large- and small-cap biotech knowhow in effectively managing explosive growth

Strong networks across key functions enable rapid organizational scaling with top talent

Understand the requirements of creating value by building sustainable companies from the bottom up

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FYARRO® First Approved Indication: Advanced Malignant PEComa

• Ultra rare sarcoma
• Estimated 100-300 new patients per year in the US6
• Biological evidence of mTOR pathway activation; cancer type with highest rate of TSC1 & TSC2 mutations2-4
• Estimated survival of 12-16 months5

• Can arise at any site but most commonly at visceral (especially gastrointestinal and uterine), retroperitoneal, and abdominopelvic sites and with female predominance
• Mesenchymal tumor (sarcoma) consisting of perivascular epithelioid cells
• • Distinctive cells that show a focal association with blood-vessel walls1
  • Usually express both melanocytic and smooth muscle markers1

Sources: 1) Ben-Ami et al., Expert Opinion on Orphan Drugs. 2018; 2) Akumalla S, et al. Oncology. 2020;98(12):905-912; 3) nab-Sirolimus AMPECT Clinical Trial mutation rates: TSC1=20%, TSC2=36%; 4) Mutation frequencies based on TCGA database "likely" and "definite" impact mutation rate and published literature rates by cancer type where available (sources available at request); 5) JS Bleeker, JF Quevedo, and AL Folpe, Sarcoma. 2012;541626; 6) No formal published epidemiology information; Aadi analysis based on multiple sources including Aadi internal data and external research conducted by Tessellon Group and Corsica Life

5 Sciences 7) Primary Oncologist Market Research (N=10) conducted July and August 2019 by Corsica Life Sciences