MediWound : Presentation – December 2023

Next-Generation Enzymatic Therapeutics for Non-SurgicalTissue Repair

December 2023 I Nasdaq: MDWD

Cautionary Note Regarding Forward-Looking Statements

This presentation contains "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act and other securities laws, including but not limited to the statements related to the commercial potential of our products and product candidates, the anticipated development progress of our products and product candidates, and our expected cash runaway. 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 not historical facts, and are based upon management's current expectations, beliefs and projections, many of which, by their nature, are inherently uncertain. Such expectations, beliefs and projections are expressed in good faith. However, there can be no assurance that management's expectations, beliefs and projections will be achieved and actual results may differ materially from what is expressed in or indicated by the forward-looking statements. Important factors that could cause such differences include, but are not limited to the uncertain, lengthy and expensive nature of the product development process; market acceptance of our products and product candidates; the timing and conduct of our studies of our product candidates; our ability to obtain marketing approval of our products and product candidates in the U.S. or other markets; our expectations regarding future growth, including our ability to develop new products; risks related to our contracts with BARDA; our ability to maintain adequate protection of our intellectual property; competition risks; and the need for additional financing. These and other significant factors are discussed in greater detail in MediWound's annual report on Form 20-F for the year ended December 31, 2022, filed with the Securities and Exchange Commission ("SEC") on March 16, 2023, and other filings with the SEC from time-to-time. These forward-looking statements reflect MediWound's current views as of the date hereof and MediWound undertakes, and specifically disclaims, any obligation to update any of these forward-looking statements to reflect a change in their respective views or events or circumstances that occur after the date of this release except as required by law

Certain studies and data presented herein have been conducted for us by other entities as indicated where relevant. Intellectual property, including patents, copyrights or trade secret displayed in this presentation, whether registered or unregistered, are the intellectual property rights of MediWound. MediWound's name and logo and other MediWound product names, slogans and logos referenced in this presentation are trademarks of MediWound Ltd. and/or its subsidiaries, registered in the U.S.A., EU member states and Israel.

NexoBrid development has been supported in part with federal funding from U.S. Biomedical Advanced Research and Development Authority (BARDA), Administration for Strategic Preparedness and Response (ASPR), within the U.S. Department of Health and Human Services (HHS), under ongoing USG Contract numbers HHSO100201500035C and HHSO100201800023C. Contract number HHSO100201500035C provides funding and technical support for the pivotal U.S. Phase 3 clinical study (DETECT) and the marketing approval registration process for NexoBrid as well as its procurement and availability under the expanded access treatment protocol (NEXT) in the U.S. Additional projects for evaluation of NexoBrid funded under the BARDA contract include randomized, controlled pivotal clinical trial for use in pediatric population, establishment of a pre-emergency use data package and development of the health economic model to evaluate the cost savings impact to enable market adoption in the United States.

We maintain our books and records in U.S. dollars and report under IFRS.

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Company Highlights

Validated enzymatic		Diversified			cGMP certified sterile
technology platform		portfolio			manufacturing facility
FDA/EMA/PMDA approvals		NexoBrid® - 2022 revenues: $26.5M		Scale up program to provide
14 successful clinical trials		EscharEx® - $2B* opportunity		6X capacity by 2025
120+peer reviewed publications		MW005 - Phase I/II for BCC		Supports growing global demand

Global strategic	Solid balance sheet
collaborations	& strong investor base

Vericel, Kaken, 3M, Mölnlycke,		Cash of $46M**
MIMEDX, BARDA, DoD, PMI, BSV		Runway through profitability

*TAM - targeted addressable market; Source: Oliver Wyman market research	3
**As of September 30, 2023.

Leadership Team

Nachum (Homi) Shamir	Ofer Gonen	Barry Wolfenson	Dr. Ety Klinger	Dr. Shmulik Hess	Hani Luxenburg	Dr. Robert J. Snyder
Chairman	CEO	EVP Strategy & Corp Dev.	Chief R&D Officer	COO & CCO	CFO	CMO

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Clinically and Commercially Validated Protein-Based Therapies

Proprietary IP protected manufacturing process

Pineapple stem		Protein
harvest		extraction

Purification, enrichment,		Complex mixture of
stabilization		proteolytic enzymes

Images modified from Labster theory and bioinfo

Utilizing the same core biotherapeutic enzymatic platform technology

Complex mixture of enzymes

Healthy skin

Damaged skin

Viable tissues preserved; healing begins

Non-viable tissue is rapidly and effectively

removed to potentially avoid surgery

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Multibillion Dollar Portfolio

NexoBrid®		EscharEx®
Disruptive therapy for burn care		Next-gen enzymatic therapy for wound care**
Indication: Eschar removal of deep partial		Indication: Debridement of chronic/
and full thickness burns		hard-to-heal wounds
Classification: Orphan biological drug		Classification: Biological drug
Target users: Hospitalized patients		Target users: Optimized for outpatient setting
Development status: FDA/EU/JP approved		Development status: Phase III initiation 2H 2024

TAM* (U.S.): >$300M

TAM* (U.S.): >$2B

*TAM - targeted addressable market; Source: Oliver Wyman market research. **Investigational drug.

MW005

Biotherapy for non-melanoma skin cancers**

Indication: Treatment of non-melanoma skin cancers

Classification: Biological drug

Target users: Optimized for outpatient setting

Development status: Phase I/II

TAM* (U.S.): >$1B

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Pipeline

Indication

Development

Phase I

Phase II

Phase III

Registration

Market

	Burn eschar removal in adults	Approved
	Pediatric indication	EMA approved;	submitted to	FDA
	Sulfur mustard injuries	BARDA funded
	Battlefield treatment	DoD funded
EscharEx®	Debridement of VLUs	P3 initiation in 2H 2024
Debridement of VLU/ DFU/ post-op	P2 study completed
	Pharmacology study VLU/ DFU	P2 study completed
MW005	BCC (topical)	P1/2 completed
MW003	BCC & Tissue disorders (injectable)	P1 ready

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Scaling Up the cGMP Manufacturing Facility to Support Growth

2023	2024	2025

Planning and Initiation

Construction

FDA/EMA Submissions

6X Capacity Increase

$8M	$15M	$50M
	R e v e n u e c a p a c i t y

Continuous manufacturing of NexoBrid to meet the rising global need.

Anticipated completion by mid-2024; full manufacturing capacity in 2025

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Value Creating Milestones

NexoBrid®

EscharEx®

2 0 2 3

2 0 2 4

FDA

JP commercial

EU pediatric label

IN commercial

Capacity

approval

launch

extension approval

launch

increase

US commercial

US pediatric

Scale up facility

US pediatric

launch

label extension

completion

label extension

submission

approval

	Phase II	CHMP scientific	Protocols	Phase III
	positive results	advice	submissions	initiation

MW005

FDA feedback on Phase III protocol

Strategic research collaborations

Phase I/II positive results

PK study initiation

Strategic

Business Development

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Financial Highlights

	BALANCE SHEET		REVENUES		COMMERCIALIZATION
	$46M in cash*		2022 revenues of $26.5M		Global expansion via strategic
	as of September 30, 2023		NexoBrid is profitable	collaborations (Vericel, Kaken, BSV, PMI)
Cash runway - through profitability		2024 product revenues		Up to $216M support by BARDA
	High quality investor base		>30% growth	EU direct sales force; focus on EU-5
			Scale-up will drive increase		(CAGR >20%)
				in gross margin

ANALYSTS:	•	Josh Jennings, MD, Cowen	•	Swayampakula Ramakanth, PhD, HCW
•	Francois Brisebois, Oppenheimer	•	David Bouchey, Aegis

• Jason McCarthy, Ph.D, Maxim

* Cash, cash equivalents and short-term bank deposits

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