Protalix BioTherapeutics : PLX Corporate Presentation (October 2023)

PROTALIX BIOTHERAPEUTICS

C O R P O R A T E P R E S E N T A T I O N O c t o b e r 2 0 2 3

Disclaimers

Third-Party Information

This presentation also contains estimates and other data made by independent parties and Protalix relating to market size and growth and other data related to the industry in which Protalix operates. This data involves a number of assumptions and limitations, and you are cautioned not to give undue weight to such estimates. Neither Protalix nor any other person makes any representation as to the accuracy or completeness of such data. In light of the foregoing, you are urged not to rely on any forward-looking statement or third-party data in reaching any conclusion or making any investment decision about any securities of the Company. The appropriateness of a particular investment or strategy will depend on an investor's individual circumstances and objectives. We recommend that investors independently evaluate specific investments and strategies.

Forward-Looking Statements

This presentation contains forward-looking statements that involve risks and uncertainties within the meaning of Section 27A of the Securities Act of 1933, as amended, or the Securities Act, and Section 21E of the Exchange Act. Forward-looking statements are neither historical facts nor assurances of future performance. Instead, they are based on management's current expectations or plans projections for future operating and financial performance based on assumptions currently believed to be valid. Forward-looking statements can be identified by the use of words such as "anticipate," "believe," "estimate," "expect," "can," "continue," "could," "intend," "may," "plan," "potential," "predict," "project," "should," "will," "would" and other words or phrases of similar import, as they relate to Protalix, its subsidiaries or its management, are intended to identify forward-looking statements, although not all forward-looking statements contain these identifying words. The forward-looking statements in this presentation include, among other things, statements regarding our cash runway and the commercialization of our product. Forward-looking statements are subject to many risks and uncertainties that could cause our actual results to differ materially from any future results expressed or implied by the forward-looking statements, including, but not limited to, risks related to: the commercialization of Elfabrio®; Elfabrio's revenue, expenses and costs may not be as expected; Elfabrio's market acceptance, competition, reimbursement and regulatory actions, including as a result of the boxed warning contained in the U.S. Food and Drug Administration, or the FDA, approval received for the product; the ability of Chiesi Farmaceutici S.p.A., or Chiesi, our commercialization partner, to obtain and maintain reimbursement for Elfabrio, and the extent to which patient assistance programs and co-pay programs are utilized; the likelihood that the FDA, European Medicines Agency, or the EMA, or other applicable health regulatory authorities will approve an alternative dosing regimen for Elfabrio; the regulatory approval and commercial success of our other product and product candidates, if approved; failure or delay in the commencement or completion of our preclinical studies and clinical trials, which may be caused by several factors, including: slower than expected rates of patient recruitment; unforeseen safety issues; determination of dosing issues; lack of effectiveness during clinical trials; inability to satisfactorily demonstrate non-inferiority to approved therapies; inability or unwillingness of medical investigators and institutional review boards to follow our clinical protocols; inability to monitor patients adequately during or after treatment; and/or lack of sufficient funding to finance our clinical trials; delays in the approval or potential rejection of any applications we file with the FDA, EMA or other health regulatory authorities for our other product candidates, and other risks relating to the review process; our ability to manage our relationship with our collaborators, distributors or partners, including, but not limited to, Pfizer Inc., or Pfizer, and Chiesi; the amount and sufficiency of our cash and cash equivalents; and other factors described in our filings with the U.S. Securities and Exchange Commission. In addition, new risk factors and uncertainties may emerge from time to time, and it is not possible to predict all risk factors and uncertainties. Given these uncertainties, investors should not place undue reliance on these forward-looking statements. Except as required by law, Protalix undertakes no obligation to update or revise the information contained in this presentation whether as a result of new information, future events or circumstances or otherwise.

Investment Highlights

A Strong Foundation To Further Expand Into The Rare Disease Space

Two Approved Drugs in LSDs

Elelyso® (alfataliglicerase in Brazil): FDA approved, commercially marketed drug for Gaucher disease.

Elfabrio® (pegunigalsidase alfa) has been approved for marketing by the European Commission for Fabry disease and by the FDA.

Clinically-Validated Platforms

Proprietary ProCellEx® platform for recombinant protein expression cGMP manufacturing facility successfully inspected and audited by multiple regulatory agencies, including the FDA & EMA.

Strong Partnerships

Chiesi Farmaceutici S.p.A.

Pfizer Inc.

Fundação Oswaldo Cruz (Fiocruz)

Clinical and Regulatory Expertise in Rare Genetic Space

Strong clinical and regulatory expertise for biologics and world-class network of Lysosomal Storage Disorder disease experts.

Development Pipeline

Uricase (PRX-115) for the treatment of severe gout.

Long Acting DNase I (PRX-119) for the treatment of NETs-related diseases, as well as other product candidates, in discovery and preclinical phases.

Revenue-Generating

Multiple revenue streams, including sales to Pfizer, Fiocruz (Brazil) and Chiesi.

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Product Pipeline

Recombinant proteins designed to have potentially improved therapeutic profiles that target unmet medical needs and established pharmaceutical markets

Uricase (PRX-115)Severe GoutFinal results PhI (expected 2Q'24)

Note: Current pipeline candidates are recombinant proteins expressed via our proprietary ProCellEx® system

Committed Commercial Partner

Growing Focus on High Unmet Needs in Rare Disease Space

Focus on Rare Disease Space

Goal: Within 2 years, 4-6discovery to PhII programs in the pipeline

Rare Genetic

and Non-

Genetic

Rare Genetic

Lysosomal

Storage

Disorders

Our Strategy: Focus on rare diseases space

• Both genetic and non-genetic opportunities
• Prioritize opportunities with LCM potential
• Diseases with high unmet needs
• Surrogate endpoints/biomarkers

Systematic Approach to BD&L Screen

• Significant in-licensing to build a sustainable portfolio
• Open to modalities outside protein (exc. CGT)
• Protalix has initiated a large BD&L process to bring in novel opportunities in the rare disease space
• Protalix is also reviewing emerging innovative platforms

In-House Discovery Pipeline based on Protein Capabilities

• Leveraging ProCellEx platform and PEGylation capabilities for highly innovative opportunities
• Reinforce protein capabilities

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Evolving Protalix: Addressing High Unmet Needs in the Rare Disease Space

Leveraging track record of success into other rare diseases

Strategy

Striving for Continued Success in Rare Diseases (genetic and non-genetic)

Track Record of Success in Rare Genetic Space