JATT Acquisition : Corporate Overview 31 July 2023

Building the Next Immunology Leader

Corporate Presentation - July 2023

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1. volatility in the price of Zura Bio's securities; (3) the ability of Zura Bio to successfully conduct research and development activities, grow and manage growth profitably, maintain relationships with customers and suppliers, and retain key employees; (4) costs related to financing transactions and the ongoing costs relating to operating as a public company; (5) changes in the applicable laws or regulations; (6) the possibility that Zura Bio may be adversely affected by other economic, business, and/or competitive factors; (7) the risk of downturns and a changing regulatory landscape in the highly competitive industry in which Zura Bio operates; (8) the impact of the global COVID-19 pandemic; (9) the potential inability of Zura Bio to raise additional capital needed to pursue its business objectives or to achieve efficiencies regarding other costs; (10) the enforceability of Zura Bio's intellectual property, including its patents, and the potential infringement on the intellectual property rights of others, cyber security risks or potential breaches of data security; and (11) other risks and uncertainties described in the Registration Statement and such other documents filed by Zura Bio from time to time with the SEC. These risks and uncertainties may be amplified by the COVID-19 pandemic or other unanticipated global disruption events, which may continue to cause economic uncertainty. Zura Bio cautions that the foregoing list of factors is not exclusive or exhaustive and not to place undue reliance upon any forward-looking statements, including projections, which speak only as of the date made. Zura Bio gives no assurance that it will achieve its expectations.

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©2023 Zura Bio Ltd.

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 Experienced management team with proven ability to

successfully execute and build a leading market position

 Multiple Phase 2 ready assets in important, underserved

indications including SSc, HS and Asthma

 Public on Nasdaq in March 2023

 Well capitalized with > $100M cash,* including $80M PIPE

in June (Deep Track Capital, Great Point Partners, Suvretta Capital, others) to support development and operations through 2026, including key data readouts

(*) As of July 2023	© 2023©2023Zura ZuraBio LtdBio. Ltd.	3
ABBREVIATIONS: HS, Hidradenitis suppurativa; SSc, Systemic sclerosis

Experienced management team with proven ability to successfully execute and build a leading market position

Someit Sidhu M.D.	Verender Badial		Chris Cabell M.D.
Chief Executive Officer and Director	Chief Financial Officer	Chief Medical Officer and
				Head of Research and Development

				Mike Howell Ph.D.
Gary Whale Ph.D.	Kim Davis
	Chief Technology Officer	Chief Legal Officer	Chief Scientific Officer and
	Head of Translational Science

BOARD OF DIRECTORS

Amit Munshi

Chairman

Garry Neil, M.D.

Director

Jennifer Jarrett

Director

Neil Graham, M.D.

Director

Parvinder Thiara

Director

Sandeep Kulkarni, M.D.

Director

Steve Schoch

Director

©2023 Zura Bio Ltd.

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Sizeable Total Addressable Market Exists Across

Number of Validated Mechanisms

Large TAM present a ~$20B opportunity

Projected TAMs (revenue forecasts for commercial products)(1)

$20B

Mechanisms validated across an array of indications

IL-17	TSLP	BAFF	IL-33

	IL-33
$15B	BAFF
	TSLP
$10B

Mkt.

Filed

Ph3

Psoriasis, Psoriatic arthritis, Ankylosing spondylitis

Hidradenitis

suppurativa, Axial

spondylarthritis

Uveitis

Asthma	SLE,	-
Lupus nephritis
-	-	-
Nasal polyps,	Sjögren's syndrome,	COPD,
Eosinophilic
IgAN	Asthma
esophagitis

$5B

$0

IL-17

Ph2

-

	Autoimmune	Atopic dermatitis,
COPD,	hepatitis, Systemic
Diabetic kidney
CSU	sclerosis, NMO
disease
	spectrum disorder

2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028

Sources: Evaluate Pharma. FactSet. Data as of 07/21/23.	©2023 Zura Bio Ltd.	5
(1) Assets included in projected TAM: Cosentyx, Taltz, Bimzelx and Siliq (IL-17), Tezspire (TSLP), Benlysta (BAFF) and itepekimab and tozorakimab (IL-33).