Impel Pharmaceuticals : Corporate Presentation January 2023

Impel Pharmaceuticals Inc.

Corporate and Business Update

January 2023

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Forward-Looking Statements

This presentation and the accompanying oral commentary contains forward-looking statements that are based on our management's beliefs and assumptions and on information currently available to our management. Forward-looking statements include all statements other than statements of historical fact contained in this presentation, including information concerning our future financial performance, business plans and objectives, timing and success of our planned development activities, our ability to obtain regulatory approval, the potential therapeutic benefits and economic value of our product candidates, potential growth opportunities, competitive position, industry environment and potential market opportunities.

Forward-looking statements are subject to known and unknown risks, uncertainties, assumptions and other factors. It is not possible for our management to predict all risks, nor can we assess the impact of all factors on our business or the extent to which any factor, or combination of factors, may cause actual results to differ materially from those contained in any forward-looking statements we may make. These factors, together with those that may be described in greater detail in our most recent Annual Report on Form 10-K, Quarterly Report on Form 10-Q and other reports the company files from time to time with the Securities and Exchange Commission, may cause our actual results, performance or achievements to differ materially and adversely from those anticipated or implied by our forward-looking statements.

In addition, statements that "we believe" and similar statements reflect our beliefs and opinions on the relevant subject. These statements are based upon information available to us as of the date of this presentation, and although we believe such information forms a reasonable basis for such statements, such information may be limited or incomplete, and our statements should not be read to indicate that we have conducted a thorough inquiry into, or review of, all potentially available relevant information. These statements are inherently uncertain and investors are cautioned not to unduly rely upon these statements. Furthermore, if our forward-looking statements prove to be inaccurate, the inaccuracy may be material. In light of the significant uncertainties in these forward-looking statements, you should not regard these statements as a representation or warranty by us or any other person that we will achieve our objectives and plans in any specified time frame, or at all. We undertake no obligation to publicly update any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.

Certain information contained in this presentation relates to or is based on studies, publications, surveys and other data obtained from third-party sources and the Company's own internal estimates and research. While the Company believes these third-party sources to be reliable as of the date of this presentation, it has not independently verified, and makes no representation as to the adequacy, fairness, accuracy or completeness of, any information obtained from third-party sources. In addition, all of the market data included in this presentation involves a number of assumptions and limitations, and there can be no guarantee as to the accuracy or reliability of such assumptions. Finally, while we believe our own internal research is reliable, such research has not been verified by any independent source.

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The Impel Investment Opportunity

• POD® Technology: Clinically Validated and Broad Utility
• • Unique approach targeting upper nasal space; broad disease area applicability

Trudhesa™ - Significant Commercial Opportunity in Migraine Market

• Large, growing and dynamic market with significant unmet need

Highly Targeted Commercialization Strategy

• Initial 60-person salesforce; targeting 8K physicians (35% of Market Rxs)
• Strong market access footprint - 80% commercial lives covered
• Increased salesforce by 50% in July 2022 based on launch momentum

INP105: Poised to Fill a Major Unmet Need

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Targeted for acute treatment of agitation and aggression in autism Phase IIa PoC Study (CALM 201) initiated in July; Results in 2H 2023

Proven and Experienced Leadership Team

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The Trudhesa Clinical Profile

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Trudhesa PK Levels - Comparable to IV DHE; Surpassed Migranal

Treatments

AUC in the First Two Hours -

Thought to Be Critical to DHE

Efficacy and Tolerability

Trudhesa Delivers

Comparable Blood Levels

vs. IV DHE

• Similar blood levels (20 mins - 48 hours)
  without early Cmax spike associated with nausea & vomiting

vs. MIGRANAL

• 4x increase in Cmax
• 3x increase in AUC
• Much improved consistency of dosing, similar to IV infusion

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