Sagimet Biosciences Inc. announced the appointments of two biotechnology industry leaders, Anne Phillips and Jennifer Jarrett, to the board of directors of the Company, effective August 1, 2024. Dr. Phillips has over 25 years of pharmaceutical industry experience. She joins Sagimets board following an 11 year tenure as corporate and senior vice president of clinical, medical, and regulatory affairs at Novo Nordisk where she led and oversaw over a dozen FDA approvals of both drugs and biologics while securing new indications for approved medicines in diabetes, obesity, hemophilia, and growth disorders.

Before joining Novo, she held a variety of positions including global vice president of the Metabolic Clinical Cardiovascular Metabolic Medicines Development Centre, vice president and clinical head of the Center of Excellence in External Drug Discovery, and vice president and medicine development leader of Promacta and Avodart at Glaxo over a period of 12 years. Dr. Phillips currently serves on the boards of Barinthus Biotherapeutics plc and Travena Corporation. Previously, she served on the board of directors for Carmot Therapeutics until its acquisition by Roche in December 2023, AMAG Pharmaceuticals, and the Biotechnology Innovation Organization (BIO).

She earned her BSc (Hons) from the University of Western Ontario and MD from the University of Toronto where she trained as a specialist in Internal Medicine, Medical Microbiology and Infectious Diseases. Its a pleasure to join Sagimets board at such a crucial time in the companys development, Ms. Jarrett said. As the only fat synthesis inhibitor in development, denifanstats differentiated method of action shows significant promise in addressing the growing burden of underserved MASH patients, and I look forward to working with the Sagimet leadership team and the other board members.

Ms. Jarrett has served as chief operating officer of Arcus Biosciences for the last four years where she is responsible for finance, IR/communications, corporate development /alliance management and commercial/medical affairs. She also led the opt-ins for three Arcus assets by Gilead. Prior to that position, she was vice president of corporate development and capital markets for Uber where she was heavily involved in its initial public offering (IPO) and concurrent private placement as well as multiple corporate development transactions.

From 2017-2019, she held both the chief financial officer and chief operating officer roles at Arcus where she oversaw an oversubscribed Series C round of financing and a successful IPO. Ms. Jarrett has held multiple financial executive and investment banking roles for Medivation, Citigroup, Credit Suisse, Donaldson, Lufkin &Jenerette, Merrill Lynch, and Kidder, and Peabody &Co/Painewebber. Ms. Jarrett currently serves on the board of Arcus Biosciences, LifeMine Therapeutics, Zura Bio Ltd., Syndax Pharmaceuticals, and the non-profit organization SMART.

She has previously served on the board of Arena Pharmaceuticals, Audentes Therapeutics, and Radius Health. Ms. Jarrett earned a BA in economics from Dartmouth College and an MBA from Stanford University. Dr. Phillips, 70, has over 25 years of pharmaceutical industry experience.

She joins the Company's Board following a tenure at Novo Nordisk A/S, a global healthcare company, where she most recently served as a Senior Vice President of Clinical, Medical & Regulatory Affairs, North America Operations, leading the drug development, clinical operations, medical, regulatory, health economics and outcomes research, and safety teams, from January 2011 to August 2022. Prior to joining Novo Nordisk, Dr. Phillips held positions of increasing seniority at GSK plc from 1998 to 2010, most recently as Vice President, Medicine Development Leader. Dr. Phillips currently serves on the board of directors of Trevena Inc., a biopharmaceutical company, a position she has held since December 2014, Barinthus Biotherapeutics plc, a clinical-stage biopharmaceutical company, a position she has held since February 2021, and most recently, vTv Therapeutics Inc., a clinical-stage public biopharmaceutical company, whose board she joined in March 2024.

Dr. Phillips also served as a member of the board of directors of Carmot Therapeutics Inc., a biopharmaceutical company, from September 2022 to December 2023, when it was acquired by F. Hoffmann-La Roche AG and AMAG Pharmaceuticals Inc., a pharmaceutical company, from April 2019 to November 2020. Dr. Phillips received an Hon. B.Sc.

in Zoology from the University of Western Ontario and an M.D. from the University of Toronto. She completed postgraduate training in Internal Medicine, Medical Microbiology and Infectious Diseases.