Sol Gel Technologies : Patidegib Acquisition Call

Investor Call

January 27, 2023

INVESTOR CALL

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Forward-Looking Statements

This press release contains "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. All statements contained in this press release that do not relate to matters of historical fact should be considered forward-looking statements, including, but not limited to, statements regarding the benefits we expect to receive under our agreement with Galderma; expected net sales and royalty income in line with volume growth of EPSOLAY and/or TWYNEO; and our expected cash runway. These forward-looking statements include information about possible or assumed future results of our business, financial condition, results of operations, liquidity, plans and objectives. In some cases, you can identify forward-looking statements by terminology such as "believe," "may," "estimate," "continue," "anticipate," "intend," "should," "plan," "expect," "predict," "potential," or the negative of these terms or other similar expressions. Forward-looking statements are based on information we have when those statements are made or our management's current expectations and are subject to risks and uncertainties that could cause actual performance or results to differ materially from those expressed in or suggested by the forward-looking statements. Important factors that could cause such differences include, but are not limited to, the risk that the initiation or results of the Phase 3 study for patidegib will be delayed or not occur, the risk that our annual net sales from patidegib will be lower than expected, the risk that the investment by Mr. Mori Arkin will not be approved by shareholders, , risks that our cash runway will be shorter than expected, risks relating to the effects of COVID-19 (coronavirus) as well as the following factors: (i) the adequacy of our financial and other resources, particularly in light of our history of recurring losses and the uncertainty regarding the adequacy of our liquidity to pursue our complete business objectives; (ii) our ability to complete the development of our product candidates; (iii) our ability to find suitable co-development partners; (iv) our ability to obtain and maintain regulatory approvals for our product candidates in our target markets, the potential delay in receiving such regulatory approvals and the possibility of adverse regulatory or legal actions relating to our product candidates even if regulatory approval is obtained; (v) our ability to commercialize our pharmaceutical product candidates; (vi) our ability to obtain and maintain adequate protection of our intellectual property; (vii) our ability to manufacture our product candidates in commercial quantities, at an adequate quality or at an acceptable cost; (viii) our ability to establish adequate sales, marketing and distribution channels; (ix) acceptance of our product candidates by healthcare professionals and patients; (x) the possibility that we may face third-party claims of intellectual property infringement; (xi) the timing and results of clinical trials that we may conduct or that our competitors and others may conduct relating to our or their products; (xii) intense competition in our industry, with competitors having substantially greater financial, technological, research and development, regulatory and clinical, manufacturing, marketing and sales, distribution and personnel resources than we do; (xiii) potential product liability claims; (xiv) potential adverse federal, state and local government regulation in the United States, Europe or Israel; and (xv) loss or retirement of key executives and research scientists. These and other important factors discussed in the Company's Annual Report on Form 20-F filed with the Securities and Exchange Commission ("SEC") on April 4, 2022, as amended, and our other reports filed with the SEC could cause actual results to differ materially from those indicated by the forward-looking statements made in this press release. Except as required by law, we undertake no obligation to update any forward-looking statements in this press release

INVESTOR CALL

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SGT-610 (Patidegib Gel, 2%): a Phase-3-Ready NCE Asset for the Prevention of BCCs in Adults with Gorlin Syndrome

Recent Acquisition by Sol-Gel

INVESTOR CALL

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Gorlin Syndrome (GS) Patients May Have Thousands of BCCs During Their Lifetime

Painful repeated surgical excision is the standard of care for BCCs until this becomes impossible

Photos by courtesy of Gorlin Syndrome Alliance

INVESTOR CALL

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Potential Market Opportunity > $300M

~17,000 adult Gorlin syndrome patients with BCCs worldwide

US prevalence is 1 in	EU, UK and CH	We estimate 44% to 55%	Annual cost of
market share and patient
27,000-31,000 (11,000	prevalence is 1 in	treatment by oral HHIs
treatment adherence of
individuals) out of	40,000-60,000 out of	> $100,000
65%*
which 90% have BCC	which 67% have BCC‡
by the age of 35†

• Gorlin Syndrom Alliance website, ‡ Spiker AM, StatPearls. Treasure Island (FL): PMID: 286613671; J. Skin Cancer. 2011; 2011: 217378 * Patient Preference and Adherence 2019:13 2029-2038

INVESTOR CALL

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