Sernova : Corporate Presentation March 2024

Disclaimers and Forward-Looking Statements

This presentation is confidential and for your information only and is not intended to be distributed to or reviewed by anyone other than you. This presentation has been prepared by Sernova and is being supplied to you on a confidential basis for information purposes only and neither this presentation nor any part of it may be taken away, reproduced or redistributed, passed on, or the contents otherwise divulged, directly or indirectly, to any other person or published in whole or in part for any purpose without the prior written consent of Sernova.

Forward-Looking Statements

This presentation contains, and our officers and representatives may from time to time make, forward-looking statements within the meaning of applicable Canadian and US securities laws. Forward-looking statements in this presentation are statements that are not historical facts and are generally, but not always, identified by the word "expects", "plans", "anticipates", "believes", "intends", "estimates", "projects", "potential" and similar expressions, or that events or conditions "will", "would", "may", "could" or "should" occur. Forward-looking statements include (but are not limited to) statements about subsequent clinical activity, including our pipeline, enrolment of patients and continuing results therefrom, and the potential benefits, safety and efficacy of the Cell Pouch , Cell Pouch System and related technologies for various indications, including type 1 diabetes (T1D), as well as the size of potential market opportunities.

Forward-looking statements are not a guarantee of future performance and are based upon a number of assumptions of management at the date the statements are made. While Sernova considers these assumptions to be reasonable, these assumptions are inherently subject to significant scientific, business, economic, competitive, market and social uncertainties and contingencies. Additionally, there are known and unknown risk factors that could cause Sernova's actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements contained in this presentation. Results in early-stage clinical trials may not be indicative of full results or results from later stage or larger scale clinical trials and do not ensure regulatory approval. Readers should not place undue reliance on these statements, or the scientific data presented and should refer to the related risk factors and assumptions identified in Sernova's continuous disclosure filed on sedarplus.ca. Except as required by applicable law, Sernova expressly disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise.

Market and Industry Data

This presentation includes market and industry data that has been obtained from third party sources, including industry publications. In some cases, such information has been used in estimating potential addressable markets. Sernova believes that the industry data is accurate and that the estimates and assumptions are reasonable, but there is no assurance as to the accuracy or completeness of this data. Although the data is believed to be reliable, Sernova has not independently verified any of the data from third party sources referred to in this presentation. References in this presentation to research reports or to articles and publications should be not construed as depicting the complete findings of the entire referenced report or article.

Not an Offer

This presentation does not constitute an offer to sell, or a solicitation of an offer to purchase, securities of Sernova. This presentation does not constitute, and should not be construed as, a prospectus, advertisement or public offering of securities.

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Sernova is Pioneering 'Functional Cures' for Chronic Diseases

Blazing the trail in regenerative medicine

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T1D Cohort 1 Patient Testimonial Speaks Volumes

Insulin Independent for ~4 Years

After completing the safety, tolerability and efficacy study of Sernova's Cell Pouch for clinical islet transplantation and as the first transplant candidate, I can easily state how absolutely wonderful life is, to be free of always thinking of how to manage my diabetes.

After having T1D for 47 years with approximately 21,535 injections of various cow/pig, synthetic insulins, 34,310 finger sticks, 1,460 urine tests, 15 years on the pump, carbohydrate counting, blood tests, low blood sugar reactions, and doctors…doctors and more doctors' visits, I have now been free of the need for injectable insulin for 15 months*.

My only wish is that it could have been done sooner.

Cohort 1, Patient 1 - June 2021

Today to 2026: Potential Milestones & Value Inflection Points

Development for T1D, Thyroid Disease & Hem A Continues Across 2024-2026

fundraising activities will be conducted as appropriate

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all milestones are subject to sufficient financing, positive data readouts, regulatory interactions and our partners ability to deliver

Pipeline Today - Multiple Indications

Impacting patients around the world

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Implementing a Portfolio Strategy

Multiple opportunities to expand our portfolio & to extend our reach to more patients

Cell Pouch + Therapeutic Provides Organ-Like Environment

Creates vascularized tissue chambers to allow optimal engraftment of therapeutic cells