INVESTOR PRESENTATION NEXT GENERATION IMMUNOTHERAPIES NEOVACS APRIL 2016 INVESTOR PRESENTATION Thérèse Croughs Chief Medical Officer

Investor Presentation | April 2016 Disclaimer This presentation and the information contained herein does not constitute or form part of, and should not be construed as, an offer or invitation to sell or subscribe for, or a solicitation of any offer or invitation to acquire, dispose of or subscribe for, securities of Neovacs S.A. (the “Company") in any country where such offer, invitation or subscription would be prohibited by law. The publication of this presentation in certain countries may violate applicable regulations. The new securities referred to herein have not been, and will not be, registered under the United States Securities Act of 1933, as amended (the “Securities Act”) or any securities laws of any state within the US and may not be offered or sold, directly or indirectly, in or into the US, except pursuant to an available exemption from, or a transaction not subject to, the registration requirements of the Securities Act and in compliance with any applicable state securities laws of the US. Any offering of the Shares to be made in the US will be made only to a limited number of persons who: (i) are reasonably believed to be qualified institutional buyers (as defined in Rule 144A under the Securities Act) and/or institutional accredited investors (as defined in Regulation D under the Securities Act), and (ii) have executed and returned a securities issuance agreement to the Company. With respect to the member states of the European Economic Area which have implemented the Directive 2003/71/EC of the European Parliament and the Council of November 4, 2003, as amended in particular by Directive 2010/73/EC of the European Parliament and of the Council of November 24, 2010 (the “Prospectus Directive”), other than France, no action has been undertaken or will be undertaken to make an offer to the public of the securities referred to herein requiring a publication of a prospectus in any relevant member state. As a result, the securities may not and will not be offered in any relevant member state except in accordance with the exemptions set forth in Article 3(2) of the Prospectus Directive, if they have been implemented in that relevant member state, or under any other circumstances which do not require the publication by the Company of a prospectus pursuant to Article 3 of the Prospectus Directive and/or to applicable regulations of that relevant member state. In accordance with Article 211-3 of the General Regulation of the Autorité des marchés financiers, no prospectus has been prepared nor will be disclosed by the Company or filed with the Autorité des marchés financiers in relation to the issuance of the new securities referred to herein. This presentation contains forward-looking statements. No guarantee can be given as to any of the events anticipated by the forward-looking statements, which are subject to inherent risks, including those described in the Document de Référence registered with the Autorité des marchés financiers under number R.14-074 on December 11, 2014 and the Rapport Financier Annuel disclosed by the Company on April 2, 2015 (as updated upon the announcement of the issuance of the new securities referred to herein, as the case may be), changes in economic conditions, the financial markets or the markets in which the Company operates. Investor Presentation | April 2016

University spin-off (Pierre and Marie Curie University) in 1993, Company formed in 2003. Seasoned leadership, 23-strong team (M.D., Pharm.D.,Ph.D.s), located in Paris and Boston Active immunotherapy: using a patient’s own immune system to regulate inappropriate cytokine overproduction Kinoids, new anti-cytokine therapeutic vaccines, IP protected until 2032 Corporate Highlights 3 products in auto-immune and inflammatory diseases, allergies and cancer: 2 phase II clinical studies in Lupus and Dermatomyositis (orphan disease) 2 pre-clinical products in 3 indications (Age-related Macular Degeneration, solid tumors, allergy) A clinical-stage company developing immunotherapies for auto-immune and chronic diseases Inflammatory and autoimmune diseases, allergies and cancers: billion dollar markets Company Public Listing on Alternext Paris since April 2010 (ALNEV, ISIN: FR0004032746) Approach - Stellar Biotech (NASDAQ: SBOT) (TSX VENTURE: KLH)  - CKD Pharmaceutical Products Pipeline Markets Financials Partnership Investor Presentation | April 2016

Kinoid Platform: Pipeline Preclinical Phase I Phase II Phase III IFNα-Kinoid in SLE – Europe, Latin America, Asia, USA VEGF-Kinoid in solid tumors IFNα-Kinoid in Diabetes Type 1 Study design under evaluation phI/II study results in 4Q2011 Phase IIb launched 10,2015 TNF-Kinoid Most advanced program to launch in 2017 VEGF-Kinoid in AMD Supportive data on IFN-K immunogenicity and down regulation on IFN-signature IFNα-Kinoid in DM - EU IL-4/IL-13 Kinoid in allergies LARGE THERAPEUTIC OPPORTUNITIES WITH KINOID TECHNOLOGY Investor Presentation | April 2016

Kinoid Technology: Vaccine-Like Approach to Treating Chronic Diseases Conjugation and inactivation Kinoid Polyclonal antibodies to targeted cytokine Targeted cytokine Carrier protein Components of active immunotherapy Immunization Stimulation of the body’s immune system T cells generated by the carrier protein (KLH) bypass B cell tolerance to induce self polyclonal anti-cytokine antibodies: Target multiple epitopes : Broad and sustained efficacy Blocking of overproduced cytokine, and its pro inflammatory effects Specific to cytokine: no cross-neutralization with other cytokines No blocking anti-drug antibodies (ADA) T cell tolerance towards the cytokine is NOT broken: no uncontrolled autoimmunity Source: Bachmann et al, Nature Reviews 2005 Investor Presentation | April 2016

Investor Presentation | April 2016 The Kinoid Technology: Competitive Positioning vs. Monoclonal Antibodies Natural polyclonal antibodies : no risk of anti-drug antibody (ADA) Binding to multiple epitopes vs. single epitopes Lower cost of goods More convenient Sustained efficacy Broader efficacy 5 injections i.m. the first year, vs. once every 2 – 4 weeks i.v./s.c., without hospitalization ~ 1mg of protein/year vs. > 1g /year with mAbs KINOIDS: A MAJOR BREAKTHROUGH WITH THE POTENTIAL TO SUPERSEDE MONOCLONAL ANTIBODIES Investor Presentation | April 2016

Biologic Penetration Limited by High Prices Cost of treatment of selected biologics Proportion of diagnosed patients receiving a biologic in 2010 / yr USA France/Europe Enbrel (Amgen/Pfizer) 14 300 $ 14 861 € Humira (Abbvie) 17 700 $ 15 118 € Remicade (J&J/Merck) 20 390 $ 11 567 € Benlysta (GSK) 30 540 $ 19 067 € Source: Corporate data, 2011 and Datamonitor Report on Benlysta 2014 sales of top 3 anti-TNF biologics Drug (molecule) Pharma Sales (M$) Growth Humira (adalimumab) ABBVIE 12,907 21% Remicade (infliximab) J&J / MERCK 9,907 11% Enbrel (etanercept) PFIZER/AMGEN 8,920 7% Benlysta (GSK) GSK 285 A MARKET WITH CONTINUED HIGH GROWTH POTENTIAL, ESPECIALLY FOR LESS COSTLY THERAPEUTICS, ESPECIALLY IN LUPUS Note: (1) source: Datamonitor, August 2011 Investor Presentation | April 2016

Systemic Lupus Erythematosus (SLE) or Lupus A chronic auto-immune disease Auto-antibodies Fluctuating disease course: relapses-remissions Can affect all organs (skin, kidneys, liver, heart) Accumulations of manifestations over time Increased mortality Population Young women: 15-40 Y, F:M ratio: 6-10:1 Blacks>Asians/Hispanics>Caucasians No curative therapy Largely undiagnosed Prevalence 0.05% of the general population By 2016, 470,000 patients suffering from SLE in the 7MM1 with an AGR of 0.8%2. USA: up to 1.5 million (Lupus Foundation of America) China : + 1 million3 Arthritis 84% Serositis 36% Nephritis 39% CNS inflammation 10% Malar rash 58% Photosensitivity 45% Immune thrombocytopenia 5% Source: adapted from Houssiau F 2008; (1) 7 Major Markets : US, Japan, France, Germany, Italy, UK, Spain; (2) GlobalData ; prevalent cases estimates for 2016 ; (3) company estimates Investor Presentation | April 2016

IFNα-Kinoid And The Market For SLE Significant market US$ 3.5 billion estimate (2019) 18% CAGR potential by 2019 GSK $3.6 bn takeover of HGS (Benlysta) An unmet medical need Benlysta (GSK), first new drug in 50 years FDA + EMA: “marginal efficacy”1 cost: 30,540 US$ per patient per year2 Market for lupus therapies 2010 vs. 2019 Million dollars New data obtained by MedImmune supports Neovacs‘ approach with INFα-K vaccine MedImmune presented: Phase II data (N=305) of its monoclonal antibody (MAb), anifrolumab, which targets the Type 1 INF receptor Results(3) show : compelling evidence that blocking Type 1 IFN system is efficient Consistent clinical efficacy versus placebo in all disease scales Greater efficacy in patients with a elevated IFN gene signature at baseline Source: Datamonitor 2011 MARKET THAT HAS LITTLE COMPETITION AND SIZEABLE GROWTH PROSPECTS Source: (1) FDA / (2) Datamonitor Report on Benlysta 2014, (3): Furie et al, Abstract 3223 ACR2015 Investor Presentation | April 2016

Kinoid Technology: Natural Polyclonal Approach Current treatments Neovacs treatment Monoclonal antibodies Injection of non-self Abs Abs bind to one specific epitope of the cytokine Risk of MAb rejection and loss of efficacy (Anti- drug Abs) Polyclonal antibodies Self Abs generated by the patient’s immune system Abs bind to multiple epitopes of the targeted cytokine Better and sustained antibody efficacy Excellent tolerance Monoclonal antibodies Polyclonal antibodies INDUCING A SAFE AND EFFECTIVE POLYCLONAL RESPONSE FROM THE BODY’S OWN IMMUNE SYSTEM Investor Presentation | April 2016 Avril 2011 10

IFNα-Kinoid : Completed and Planned Clinical studies 2015 2016 2017 2018 IFNα-Kinoid program in SLE IFNα-Kinoid Phase IIb in SLE: EU, Asia, LATAM Objectives: biological efficacy and clinical response N = 166; IFNα-Kinoid versus Placebo; Double-blind, Randomized First patient in: 3Q2015 – Results mid-2017 IFNα-Kinoid program in Dermatomyositis (DM) ODD EU-USA: Request 1Q-2017-, Designation 3Q-4Q-2017 Part 1. Phase II – Adults EU: first patient in: 2Q-2016, Results 4Q-2017, N = 30 pts Part 2. Phase IIb/III – Adults EU-USA-Asia: first patient in 1Q-2018, Results 4Q-2019, N = 60-80 pts Phase IIa/b – Pediatrics – EU-USA: first patient in 3Q-2017, Results 2Q-2019, N = 9-18 pts STRONG CLINICAL PORTFOLIO WITH IFNα-KINOID Investor Presentation | April 2016

IFNα-Kinoid Phase I/II in SLE : study design and population 18- 50 years SLE ACR 4/11 SLEDAI 4-10 ANA and/or anti-dsDNA positive Corticosteroid ≤ 20mg/day No BILAG A Double-blind, placebo controlled, 3:1 (IFN-K/Placebo) 28 pts, 7 countries, 12 centers Staggered dose increase Kinoid 30 mcg/dose vs placebo Kinoid 60 mcg/dose vs placebo Kinoid 120 mcg/dose vs placebo Kinoid 240 mcg/dose vs placebo Schedule of administration 3 IM injections, D0-D7-D28 4th dose at week 12 in 50% of patients Objectives Safety Immune responses Neutralization of IFN-alpha- and SLE- dysregulated genes Investor Presentation | April 2016

100% of SLE patients developed anti-IFN antibodies in IFN-K group 3 doses Anti-IFNa antibody GMT 100 1000 10000 100000 50 150 200 250 300 350 30 mcg IFN-K 60 mcg IFN-K 120 mcg IFN-K 240 mcg IFN-K Placebo 4 doses Anti-KLH antibody GMT NC50 (geometric mean) Day Increasing doses and number of injections of IFNα-Kinoid lead to increased anti-IFNα and anti-KLH Ab responses and neutralizing capacity response to IFNα Source: Lauwerys et al, 2013, Arthritis & Rheum Investor Presentation | April 2016

Polyclonal Antibody Response Neutralizes all IFNα subtypes 10 U/mL Polyclonal antibodies of an IFN-K immunized Patient (D964) (Dilution) 9F3 Monoclonal Antibody anti-IFNα (concentration ng/mL) A 2a 1/22475 <7.8 B2 1/8936 98 C 1/8857 >1000 D 1/9648 F 1/2493 329 G 1/10693 78 H2 1/9147 57 I 1/13354 J1 1/5270 K 1/16878 4b 1/10154 WA 1/10148 945 A 2b 1/22326 Neutralized sub-types 13/13 +++ 2/13: +++ 5/13: + Since most probably all IFNα subtypes are involved in SLE pathogenesis, these ex-vivo results demonstrate the strong neutralizing capacity of anti-IFNα Ab induced by IFN-K administration compared to MAb IFNα Neutralizing polyclonal anti-IFNα antibodies Strong neutralization Weak neutralization No neutralization 9F3 : mAb deposited at ATCC by Genentech (in 2001 U.S. patent 7,087,726 B2) Investor Presentation | April 2016

Investor Presentation | April 2016 Extended follow-up data from phase I/IIa trial confirms potent biological activity 4 years after end of trial 3 key results regarding anti-IFNα neutralizing generated by IFNα-Kinoid antibodies presented at Lupus 2015 congress in Vienna in September 20151: Neutralizing Abs still present 4 years after the first immunization; They continue to maintain normalization of IFNα signature; Neutralizing Abs associated with the decreased expression of induced genes associated with B cell activation. B-cell activation, like the IFNα-signature, has been linked to the pathogenesis of SLE lupus2; Neovacs has previously reported the strong level of biological activity of IFNα-Kinoid at 6 months after first immunization with IFNα-Kinoid3; Further long term observation: 6 out of 6 patients still followed by Neovacs because they still have antibodies against IFNα, had no Lupus flare since 4 years Note: (1) J. Ducreux, et Al, IFNα-kinoid (IFN-K) induces neutralizing anti-IFNα antibodies that decrease the expression of IFN-induced and B cell activation associated transcripts : Analysis of extended follow-up data from the IFN-K Phase I/IIa study, Lupus 2015, Vienna 2015 Poster Session P04 Treatment. 2) Kiefer K, Oropallo MA, Cancro MP, et al. Immunol Cell Biol 2012; 90: 498-504 3) Bernard Lauwerys et al., Arthritis & Rheumatism Vol. 65, No. 2, February 2013. Investor Presentation | April 2016

Clinical Advisory Board - SLE Pr. KIRYAKOS KIROU, MD, DSc, FACP Mary Kirkland Center for Lupus Research, New-York Director, Lupus Nephritis Program, Hospital for Special Surgery, New-York Pr. ERIC HACHULLA, MD Professor and clinical expert Centre Hospitalier Universitaire de Lille; Centre de Référence des Maladies Auto-immunes et Systémiques rares, France  Pr. VIBEKE STRAND, MD, FACP, FACR Clinical Professor, Adjunct, Division of Immunology and Rheumatology of the clinical faculty at Stanford University Consultant in clinical research and regulatory affairs Pr. FRÉDÉRIC HOUSSIAU, MD Chief of Rheumatology Unit, SSS/IREC/RUMA, Cliniques Universitaires Saint Luc & Université Catholique de Louvain, Brussels, Belgium Pr. JOAN MERRILL, MD Professor of Medicine, Adjunct Professor, Oklahoma Medical Research Foundation; School of Pharmacy University of Oklahoma Health Sciences Center Medical Director of the Lupus Foundation of America, and member of the Systemic Lupus International Collaborating Clinics Pr. RONALD VAN VOLLENHOVEN, MD Chief of the Unit for Clinical Therapy Research, Inflammatory Diseases (ClinTRID) at the Karolinska Institute, and of the Clinical Trials Unit Rheumatology at the Karolinska University Hospital, Stockholm Pr. BERNARD LAUWERYS, MD, PhD Rheumatology Unit, SSS/IREC/RUMA, Cliniques Universitaires Saint Luc & Université Catholique de Louvain, Brussels, Belgium Investor Presentation | April 2016

Investor Presentation | April 2016 IFNα-Kinoid & Phase 2b in SLE (IFN-K-002) Design & Clinical End-Points for Efficacy Double-blind, randomized, placebo controlled Population Design 18- 65 years SLE ACR 4/11 SLEDAI ≥ 6 Moderate to severe IFN gene signature positive Corticosteroid ≤ 20mg/day Double-blind, placebo controlled, 1:1 (IFN-K/Placebo) 166 pts, 19 countries, 100 centers Dosing regimen IFN-K 240 mcg/dose vs placebo D0-D7-D28 IFN-K 120 mcg/dose vs placebo M3-M6 (boost) Objectives Co-Primary end-points: Biological Efficacy (decrease of IFN gene signature) and Clinical Efficacy ( using BICLA response) Secondary end-points: SRI-4 response Mean N flares Other clinical end points Investor Presentation | April 2016

IFN-Kinoid Development Plan - SLE 2015 2016 2017 2018 2019 2020 2021 Q1 Q2 Q3 Q4 IMPD Ph IIb - IFN-K-002 EU + Asia + LATAM + US EXTENDED FOLLOW-UP (5 years) IND n = 178 evaluable pts REGISTRY - South Korea MAA SUBMISSION South Korea (ODD) Fast-Track US PRIME -EMA Registration strategy ScAdvice (EMA) FDA EOP2 meeting Conditional MAA/BLA 4Q-2020 INTERIM RESULTS 250 pts - M12 IMPD Full MAA/BLA SUBMISSION 3Q-2021 Ph III Study Ph III Study Preparation Recruitment Follow-Up/Procedure Results MAA/BLA filing Investor Presentation | April 2016

IFN-K & Dermatomyositis Autoimmune inflammatory disease characterized by muscle weakness and skin rash, Unmet medical need: Adult and juvenile DM Orphan Disease in EU1 & US2: Incidence: 1-10 new cases/million pop/year Prevalence: 1/10 000 – 1/50 000 Ratio F/M: 2/1, in USA, Black>Caucasian Standard of care: CS and immunosuppressive drugs Co-morbidities: notably cancer and side effects CS related Diagnosis: Muscle Biopsy: inflammatory cells in perivacular & perifascicular distribution + perifascicular atrophy Skin: Gottrons papules and classic heliotrope rash Lab parameters: specific autoAb IFN gene signature (type I) in blood & muscle biopsy Heliotrope rash Gottrons papules Shawl sign Inflammatory cells in perivacular Elbow Rash Gottrons papules Notes: (1) 5/10 000; (2) < 200 000 Investor Presentation | April 2016

IFN-K & Dermatomyositis Rationale to support a PoC in Humans No single animal model fully reproduced human disease IFN gene signature pathway documented (Baechler et al.2003, Greenberg et al, 2010, Allenbach et al, 2016, in press) IFN-K induced neutralizing Ab in SLE patients (Lauwerys et al, 2013) IFN-K decreased IFN gene signature in SLE patients (Lauwerys et al, 2013) Safety data accumulated in Phase I/II study in SLE patients Dosing regimen established in Phase I/II study in SLE patients Population Study Design: 18- 65 years Newly diagnosed or relapsing DM Corticosteroid 1 mg/day or ≤ 70 mg/day PoC study, Single-blind, placebo controlled, 1:1 (IFN-K/Placebo) 30 pts, 5 countries, 9 centers Dosing regimen IFN-K 240 mcg/dose vs placebo D0-D7-D28 IFN-K 120 mcg/dose vs placebo M3-M6 (boost) Objectives Primary end-points: Production of anti-IFNα antibodies and Biological Efficacy (decrease of IFN gene signature) Secondary end-points: Safety, clinical efficacy (MMT8&5, accelerometer,…) IFN gene signature in muscle biopsy Investor Presentation | April 2016

IFN-Kinoid Proposed Development Plan – DM 2014 2015 2016 2017 2018 2019 2020 Q1 Q2 Q3 Q4 IMPD M4 M6 M12 IFN-K-DM-005 Ph II-Part 1 EU – n= 30 pts EXTENDED FOLLOW-UP STUDY Part 2 EU + US + Asia – n= +60-80 pts IND MAA/BLA SUBMISSION Fast-Track US PRIME- Europe ODD EU-US IFN-K-DM-005? CTA submission fin Dec – Approval March FPI end March-beg April PIP Rare Ped Disease PRV US Preparation Recruitment Follow-Up/Procedure Results Pediatrics Ph IIa/IIb – Part 1 - EU + US – n= 9-18 pts – 3 doses Part 2 – EU + US – n= +15 pts Investor Presentation | April 2016

EXPECTED RESULTS OF PHASE IIb TRIAL IN LUPUS Major Events IPO Alternext Paris €10 million Raised 2013 2014 2015 2017 2010 2011 2012 2016 FINAL RESULTS OF THE PHASE II STUDY IN CROHN’S - The Kinoid has a very good safety and tolerability profile - The ability of the Kinoid to induce an immune response is confirmed Immunization against INFα shows positive effect on immune system in people with lupus MIGUEL SIELER named CEO - Licensing agreement (IFNα-Kinoid in SLE and DM) for South Korea with CKD, Seoul - €5 million - Lupus, orphan disease in South Korea : enabling to submit for registration without Phase III, directly after Phase IIb results early 2017, aiming at a market entry early 2018 - Non-dilutive funding of €5 million, from Bpifrance - To support industrial project to implement a production unit for the Kinoids in Paris region FINAL RESULTS OF THE PHASE I/II STUDY IN LUPUS NEOVACS ANNOUNCES TOP LINE PHASE IIB CLINICAL TRIAL RESULTS OF TNF-KINOID IN RA AND UPDATE ON CLINICAL PROGRAMS EXPECTED RESULTS OF PHASE IIb TRIAL IN LUPUS Mid-2017 - Agreement to establish a joint production company, Neostell SAS, in France on a 70/30% basis. - To produce the Kinoids for Neovacs but also conjugated therapeutic vaccines for third parties NEW INTERNATIONAL SCIENTIFIC COMMITTEE IN NEW-YORK Composed of leading world experts in immune therapy, chronical inflammatory and autoimmune diseases Investor Presentation | April 2016

Shareholding structure and Stock information Other historical investors OTC AM Alternext Paris ISIN code: FR0004032746 1, 24 € (Closing April 6th, 2016) Market cap: 39 M€ Average Vol.: 1000K shares / per day Number of shares outstanding: 32,056,310 Founders December 31, 2015 Novartis Venture Fund Free Float Besançon Participations In € Investor Presentation | April 2016

An experienced management team MIGUEL SIELER Chief Executive Officer 32 years of an international career for Bayer. CEO of Bayer Korea up to 1994, then CEO of Bayer Pharma France until 1998 when he became Chairman and C.E.O of the Bayer Group in France until his retirement in 2008 Member of the board of Nexity S.A and Stratoz Master of Law from the University of Tubingen, Germany and graduated from the Institut d’Etudes Politiques de Paris, France THERESE CROUGHS Chief Medical Officer Thérèse joined Neovacs in 2015. Previously she was Chief Medical Officer at Cytheris for over 6 years, a French biotech company acting in active immunotherapy, before as Director of BU Lauriad & NCE at BioAlliance Pharma following several years at Novo Nordisk as international medical adviser for EU clinical development of r-FVIIa in severe haemorrhages She worked for 10 years at Bayer, as International Project Leader for rFVIII Medical degree from the Catholic University of Louvain, Brussels, Belgium BERNARD FANGET Vice President Pharmaceutical Development Bernard joined Neovacs in 2005, he was previously Senior Vice President, Pharmaceutical Development, of Flamel Technologies and Prior to Flamel was Corporate Vice President, Global Industrialization, at Sanofi Pasteur Degree in biological chemistry from the University of Lyon, France GERALDINE GROUARD-VOGEL Chief Scientific Officer Géraldine joined Neovacs in 2005. She previously worked at Sanofi-Pasteur USA in bacterial vaccine development and as a researcher at the Walter Reed Army Institute of Research at the Seattle University Degree in Pharmacy from Angers University (France) and PhD in Immunology with Dr Jacques Banchereau at Schering-Plough Lyon (France) She has authored several scientific publications in peer-reviewed journals OLIVIER DHELLIN Director of Pharmaceutical Development Olivier joined Neovacs in 2005. He previously held positions at Anosys (a US/French cell therapy biotech company), and research activities for 7 years at Gustave Roussy Institute (molecular biology and genomics) and Pasteur Institute where he was a post-doctorate fellow in molecular pharmacology. He had previously spent 4 years as a resident in several hospital departments (pediatrics, pharmacology and biochemistry) Degree in Pharmacy (Paris XI University, France) and a PhD in Virology (Pierre et Marie Curie University, France) NATHALIE THOMAS-PUJOL Head of Regulatory Affairs Nathalie joins Neovacs in 2014 after more than 20 years in the pharmaceutical industry in regulatory affairs and clinical research, such as head of Regulatory Affairs EMEA at Cephalon/Teva. Previously, she worked for 15 years at Sanofi- Aventis R&D Pharmacist Doctorate from the University of Rouen in France and a PhD in toxicology from the University of Paris VII in France Investor Presentation | April 2016

Scientific Advisory Board Pr. JACQUES BANCHEREAU, PhD Président du SAB Director of immunological sciences The Jackson Laboratory for Genomics Medicine, At the UConn Health Center Baylor Institute for Immunology Research, Dallas, Texas, USA Pr. BETTY DIAMOND, MD Investigator & Head, Center for Autoimmune and Musculoskeletal Diseases, The Feinstein Institute for Medical Research Professor of Molecular Medicine and Medicine, Hofstra North Shore-LIJ School of Medicine, Manhasset, NY Pr. NAPOLEONE FERRARA, MD Professor of Ophthalmology and Pathology Senior Deputy Director for Basic Sciences, UC San Diego Health System - La Jolla, CA Pr. MIRIAM MERAD, MD, PhD Professor Oncological Sciences and Medicine, Tisch Cancer Institute, New York, USA Director of the Human Immunomonitoring center, Tisch Cancer Institute, New York, USA In 2013, Dr. Merad was the primary organizer of the prestigious Keystone conference on dendritic cell biology Pr. BERNARD LAUWERYS, MD, PhD Rheumatology Unit, SSS/IREC/RUMA, Cliniques Universitaires Saint Luc & Université Catholique de Louvain, Brussels, Belgium Dr. VIRGINIA PASCUAL Director, Center for Inflammation and Autoimmune Diseases Director, Center for Personalized Medicine Adjunct Professor of Pediatrics, University of Texas Southwestern Medical Center, Dallas, Texas Adjunct Professor of Pediatrics, Mount Sinai School of Medicine, New York, USA Adjunct Associate Professor of Biomedical Studies, Baylor University Pr. LAURENCE ZITVOGEL, MD Research Director at INSERM U1015, Gustave Roussy Cancer Campus Center of Clinical Investigations in Biotherapies of Cancer (CICBT) 507, Villejuif, France Investor Presentation | April 2016

Investor Presentation | April 2016 Thank you & Contact Do not hesitate to contact us Miguel Sieler CEO 3/5 impasse Reille 75014 Paris Tel: +33-153-109-300 msieler@neovacs.com Neovacs Charlène Masson Investor Relations & Corporate Communication Manager Tel: +33-153-109-314 cmasson@neovacs.com NewCap Pierre Laurent / Valentine Brouchot +33-144-719-496 neovacs@newcap.eu Investor Presentation | April 2016