Mineralys Therapeutics : Corporate Overview March 2024

Targeting Aldosterone in the

Treatment of Cardiorenal

Diseases

M a r c h 2 0 2 4

For war d -Looking Statements and Market Data

We caution you that this presentation contains forward-looking statements. All statements other than statements of historical facts contained in this presentation, including statements regarding our future results of operations and financial position, business strategy, research and development plans, the anticipated timing, costs, design, and conduct of our ongoing and planned preclinical studies and planned clinical trials for lorundrostat and any future product candidates, the timing and likelihood of regulatory filings and approvals for lorundrostat and any future product candidates, our ability to commercialize our product candidates, if approved, the potential to develop future product candidates, the potential benefits of strategic collaborations and our intent to enter into any strategic arrangements, the timing and likelihood of success, and plans and objectives of management for future operations and future results of anticipated product development efforts, are forward-looking statements. In some cases, you can identify forward-looking statements by terms such as "may," "will," "should," "expect," "plan," "anticipate," "could," "intend," "target," "project," "contemplates," "believes," "estimates," "predicts," "potential" or "continue" or the negative of these terms or other similar expressions. The inclusion of forward-looking statements should not be regarded as a representation by us that any of our plans will be achieved. Actual results may differ from those set forth in this presentation due to the risks and uncertainties inherent in our business, including, without limitation: our future performance is dependent entirely on the success of lorundrostat; potential delays in the commencement, enrollment, and completion of clinical trials and nonclinical studies; our dependence on third parties in connection with manufacturing, research and clinical and nonclinical testing; unexpected adverse side effects or inadequate efficacy of lorundrostat that may limit its development, regulatory approval, and/or commercialization; unfavorable results from clinical trials and nonclinical studies; results of prior clinical trials and studies of lorundrostat are not necessarily predictive of future results; our reliance on our exclusive license with Mitsubishi Tanabe to provide us with intellectual property rights to develop and commercialize lorundrostat; our ability to obtain and maintain intellectual property protection for lorundrostat; we may use our capital resources sooner than we expect; our ability to maintain undisrupted business operations due to the COVID-19 pandemic or any other pandemic or future public health concerns; regulatory developments in the United States and foreign countries; and other risks described in our press releases and filings with the Securities and Exchange Commission (SEC), including under the heading "Risk Factors" in our Annual Report on Form 10-K for the year ended December 31, 2023. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date made, and except as required by applicable law, we do not plan to publicly update or revise any forward-looking statements contained herein, whether as a result of any new information, future events, changed circumstances or otherwise. All forward-looking statements are qualified in their entirety by this cautionary statement, which is made under the safe harbor provisions of the Private Securities Litigation Reform Act of 1995.

This presentation also contains estimates and other statistical data made by independent parties and by us relating to market size and growth and other data about our industry. This data involves a number of assumptions and limitations, and you are cautioned not to give undue weight to such estimates. In addition, projections, assumptions, and estimates of our future performance and the future performance of the markets in which we operate are necessarily subject to a high degree of uncertainty and risk. These and other factors could cause results to differ materially from those expressed in the estimates made by the independent parties and by us.

Unmet Need in Both Hypertension and CKD Addressable by Lorundrostat

Significant overlap of hypertension, chronic kidney disease and obesity

CKD in the U.S.

~50% prevalence of obesity in hypertension and CKD patients; respectively

• USRDS.org; High blood pressure redefined for first time in 14 years. American Heart Associate/AmericanCollege of Cardiology Guidelines, retrieved fromHeart.org; Chronic kidney disease in the general population (2010), retrieved from USRDS.org, accessed June 2022; Chronic kidney disease in the general population (2020), retrieved from USRDS.org, accessed June 2022

Abnormally Elevated Aldosterone Is a Key Driver in Multiple

Cardiorenal Diseases

Aldosterone-driven Cardiorenal Disorders

T-cell

DC

M⍬

Vascular and systemic

Inflammation 4

1. Sim JJ, Bhandari SK, Shi J, et al . AmJ Hypertens. 2012;25(3):379-388. 2. Hundemer GL, Curhan GC, Yozamp N, Wang M, Vaidya A. Hypertension. 2018;72(3):658-666.3. Monticone S, D'Ascenzo F, Moretti C, et al . Lancet Diabetes Endocrinol. 2018;6(1):41-50. 4) Ferreira N, Tostes RC, Paradis P, Shiffrin E. Am J Hypertens. 2021, 34(1):15-27. 5.

Prevalence of Elevated Aldosterone Linked to Rise in Obesity

1. https://usafacts.org/articles/obesity-rate-nearly-triples-united-states-over-last-50-years.2. Dudenbostel T, Ghazi L, Liu M, Li P, Oparil S, Calhoun DA. Hypertension. 2016;68(4):995-1003.

In Obesity, via Visceral Adipocytes, Leads to Elevated Aldosterone Levels

Lorundrostat targets both the RAAS-dependent and -independent axes, providing a more complete solution to abnormally elevated aldosterone

Lorundrostat Is a Highly Selective, Best -in-Class ASI

Aldosterone Synthase Inhibitor Comparison Table

Best-in-class selectivity

Aldosterone inhibition with reduced risk of cortisol inhibition or off-target AEs

Optimal half-life

Aldosterone inhibition with rapid reversibility- essential for patients who may not tolerate a significant BP drop or are at risk for hyperkalemia, including patients with CKD

1. Schumacher CD, Steele RE, Brunner HR. J Hypertens. 2013;31(10):2085-2093.2. Bogman K, Schwab D, Delporte ML, et al. Hypertension. 2017;69(1):189-196.3. CinCor S1 filing 2020, 4. BI presentation at ASN meeting.

Phase 2 Proof -of-Concept Study Design

Evaluating the safety, efficacy and dose-response of lorundrostat in uncontrolled and resistant hypertension

Baseline Demographics and Disposition

90% of the randomized patients completed Part 1 of the Target-HTN trial