Fulcrum Therapeutics : JP Morgan Presentation January 2023

J.P. Morgan Presentation

January 2023

Disclaimer and Notice

This presentation contains "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995
that involve substantial risks and uncertainties, including express of implied statements regarding the development status of
Fulcrum's product candidates, the potential advantages and therapeutic potential of Fulcrum's product candidates planned
meetings with regulatory agencies and availability of clinical trial data. All statements, other than statements of historical facts,
contained in this press release, including statements regarding Fulcrum's strategy, future operations, future financial position,
prospects, plans and objectives of management, are forward-looking statements. The words "anticipate," "believe," "continue,"
"could," "estimate," "expect," "intend," "may," "plan," "potential," "predict," "project," "should," "target," "will," "would" and similar
expressions are intended to identify forward-looking statements, although not all forward-looking statements contain these
identifying words. Any forward-looking statements are based on management's current expectations of future events and are
subject to a number of risks and uncertainties that could cause actual results to differ materially and adversely from those set forth
in, or implied by, such forward-looking statements. These risks and uncertainties include, but are not limited to, risks associated
with Fulcrum's ability to obtain and maintain necessary approvals from the FDA and other regulatory authorities; continue to
advance its product candidates in clinical trials; initiate and enroll clinical trials on the timeline expected or at all; correctly estimate
the potential patient population and/or market for Fulcrum's product candidates; replicate in clinical trials positive results found in
preclinical studies and/or earlier-stage clinical trials of losmapimod, FTX-6058, and any other product candidates; obtain, maintain
or protect intellectual property rights related to its product candidates; manage expenses; and raise the substantial additional capital
needed to achieve its business objectives. For a discussion of other risks and uncertainties, and other important factors, any of
which could cause Fulcrum's actual results to differ from those contained in the forward-looking statements, see the "Risk Factors"
section, as well as discussions of potential risks, uncertainties and other important factors, in Fulcrum's most recent filings with the
Securities and Exchange Commission. In addition, the forward-looking statements included in this press release represent
Fulcrum's views as of the date hereof and should not be relied upon as representing Fulcrum's views as of any date subsequent to
the date hereof. The Fulcrum anticipates that subsequent events and developments will cause Fulcrum's views to change.
However, while the Fulcrum may elect to update these forward-looking statements at some point in the future, the Fulcrum
specifically disclaims any obligation to do so.	2

Unlocking the Power of Small Molecules

to Change the Course of Genetically Defined Diseases

Two Wholly Owned Clinical Programs

FSHD

SCD

	Phase 1	Phase 2	Phase 3
Losmapimod	First-to-market potential			Complete Phase 3
(DUX4 Inhibitor)			enrollment in 2H'23
FTX-6058	Best-in-class potential			Phase 1b data
(Oral HbF Inducer)			update in 4Q'23

Wholly Owned Discovery Programs

Blood Disorder

Neurologic Disorder

Muscle Disorder

3

Losmapimod

for Facioscapulohumeral Muscular Dystrophy (FSHD)

Fast Track Designation Orphan Drug Designation

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FSHD: Debilitating Disease with No Approved Therapies

5