CONFIDENTIAL

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EV06 Ophthalmic Solution (Lipoic Acid Choline Ester)Topical Treatment For Presbyopia

Results from a Phase I – II Clinical StudyPost Treatment Follow-up Study Progress

Encore Vision, Inc.

Bill BurnsChief Executive Officer

CONFIDENTIAL

What is EV06 - How Does it Work?

• EV06 (Lipoic Acid Choline Ester, 1.5%) is a prodrug

Choline Lipoic Acid

Lipoic Acid Choline Ester • EV06 penetrates cornea - metabolized into Choline & Lipoic Acid, two naturally occurring substances

Dihydrolipoic Acid

• Enzymes within lens fiber cells chemically reduce Lipoic Acid to active form Dihydrolipoic Acid (DHLA)

• DHLA reduces disulfide bonds – restores lens microfluidics

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EV06 Phase I – II Clinical Study Design

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• Prospective, randomized, double-masked, placebo-controlled multicenter Phase I/II study • 75 subjects with hyperopia, myopia, or emmetropia and a diagnosis of presbyopia

randomized 2:1 (EV06 or Placebo) BID

• Study visits, Days -7, 0, 1, 8, 15, 31, 61, 91

Key inclusion criteria:•45-55 years of age•DCNVA worse than 20/40 in each eye•BCDVA (Best Corrected Distance Visual Acuity) of 20/20 or better in each eye•Difference of ≤ 0.50 D between manifest refraction spherical equivalent and cycloplegic refraction spherical equivalent

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EV06 Phase I – II Clinical Study Design - Safety

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Safety = Non-dominant eye dosed initially for one week to confirm safety and tolerance

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• Comfort• Day 1 and prior to each visit• 0 – 10 scale

• Compliance• Diary• Office visit questions

Measurements and Study Details

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• Four Study Sites across US

• Safety Assessments included:• Change in General Ocular Health• Best Corrected Distance Visual Acuity• IOP• Slit lamp findings(lens, anterior & posterior

capsule, nucleus)• Fundus findings• Adverse events

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Baseline Patient Demographics

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PlaceboN=25

EV06N=50

Age (SD)Gender

Males

Race

51.4 (± 3.0)

5 (20%)

50.1 (± 3.2)

17 (34%)

White

Females 20 (80%) 33 (66%)

Black18 (72%) 35 (70%)7 (28%) 15 (30%)

EthnicityHispanic or LatinoNot Hispanic or Latino

5 (20%) 16 (32%)20 (80%) 34 (68%)

Baseline DCNVA (OU)* 0.408 (± 0.12) 0.397 (± 0.10)Baseline DCNVA (study eye)* 0.500 (± 0.10) 0.507 (± 0.11)Table 14.1.2

Table 14.2.1.1*Mean LogMAR (SD)

(0.05 LogMAR = 20/63 Snellen)(0.40 LogMAR = 20/50 Snellen)

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EV06 is Safe and Well Tolerated

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PlaceboN=25

EV06N=50

Subject Discontinuations

Ocular Any subject with at least one ocular related TEAE

2 (8%)

0 (0%)

1 (2%)

0 (0%)

0 (0%) 2 (4%)Ocular related TEAE

AsthenopiaBlepharitisConjunctival hyperaemia

Eye irritationEye pruritus

Foreign body sensation in eyesOcular hyperaemiaVision blurred

0 (0%) 1 (2%)2 (8%) 0 (0%)

0 (0%) 2 (4%)0 (0%) 2 (4%)

0 (0%) 2 (4%)0 (0%) 1 (2%)0 (0%) 1 (2%)

EV-C-002Table 14.3.2.1.3 Table 14.3.2.4.2

TEAE = Treatment Emergent Adverse Event, defined as any event not present prior to the initiation of the treatments or any event already present that worsens in either intensity or frequency following exposure to the treatments TESAE =Treatment Emergent Serious Adverse Event

TESAE (all organs)

3 (12%) 8 (16%)

Instillation irritation 0 (0%) 2 (4%)Instillation pain 1 (4%) 3 (6%)

Isolated EventsNot persistent

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EV-C-002 Study Efficacy Endpoints

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1. Change in DCNVA (LogMAR) from Day 1 to Day 91 of the Study Eye (Non-dominant eye)

2. Study subjects with a gain ≥10 letters from Day 1 to Day 91 in DCNVA of the Study Eye (Non-dominant eye)

3. Change in Bilateral (OU) DCNVA (LogMAR) from Day 1 to Day 91

DCNVA = distance corrected near visual acuity

EV-C-002

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P-values two-sample t-test, EV06 vs. Placebo. Error bars represent SEM

0.00

0.02

0.04

0.06

0.08

0.10

0.12

0.14

0.16

0.18

0.20

Cha

nge

in D

CN

VA (l

ogM

AR

) fro

m d

ay 0

(abs

olut

e ch

ange

)EV06 Shows Improved Bilateral Near Vision Over Time Change in DCNVA (LogMAR) from Baseline OU

Day 8 Day 15 Day 31 Day 61 Day 91

p=0.007

p=0.001

p=0.024

p=0.001

p=0.004

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2.5

2.0

1.0

0.5

1.5

Num

ber of Snellen lines increased

N 25 50 24 50 23 49 23 49 23 49 Table 14.2.1.1Table 14.2.1.6.3, non-LOCF. Change in DCNVA, per N for each day. EV-C-002

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EV06 Improves Percent of Subjects that Gain Bilateral Near VisionSubjects Showing a Gain of ≥10 letters in DCNVA (OU)

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Day 8 Day 15 Day 31 Day 61 Day 910

10

20

30

40

50

60

Placebo

EV06

% o

f Sub

ject

s

p = 0.001

p = 0.004

p = 0.025

p = 0.040

p = 0.021

p values for Fisher’s Exact Test EV06 vs. Placebo

Table 14.2.1.9.3, non-LOCF. % calc. per N for each day.

N 25 50 24 50 23 49 23 49 23 49

EV-C-002

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EV06 Improves Bilateral Near VisionDistance Corrected Near Vision Acuity (DCNVA) OU Day 91

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PlaceboN=23

EV06 1.5%N=49

Percent of Subjects withImprovement in DCNVA

1 line (≥ 0.10 LogMAR)

2 lines (≥ 0.20 LogMAR)

3 lines (≥ 0.30 LogMAR)

4 lines (≥ 0.40 LogMAR)

4%

52%

22%

0%

0%

0%

84%

53%

22%

12%

p = 0.009

p = 0.021

p = 0.013

p = 0.167

Any Loss in DCNVA (≥0.10) No Change in DCNVA (-0.09 to 0.09) 44% 16% p = 0.020

p = 0.319

p values for Fisher’s Exact Test EV06 vs. Placebo

Per Protocol

EV-C-002. Table 14.2.1.4.3. non-LOCF. % calc. per N Day 91: Placebo N/23; EV06 N/49

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EV06 Shows Improved Bilateral Near Vision Over Time DCNVA Snellen scores (OU) Day 1 & Day 91

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20/20 20/25 20/32 20/40 20/50 20/63 20/80 20/1000

5

10

15

20

25

30

35

40

0 0

8

22

36

22

12

0

12

24 24

22

8 8

0 0

Day 1 EV06 Polynomial (Day 1 EV06)

Day 91 EV06 Polynomial (Day 91 EV06)

% S

ubje

cts

Shift (Improvement) in Snellen Scores

Table 14.2.1.1 20/5420/28

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iTrace: Ray Tracing Aberrometry

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• Sends 256 rapid, sequential laser beams into eye in under ¼ second

• Unique FORWARD Ray Tracing Detects where each thin beam lands on macula

• Automatically calculates ocular refraction and HO aberrations

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How to Interpret Refraction Maps

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iTrace software uses the Zernike calculations to produce refractive power maps

Refraction Maps give us total ocular refraction in diopters on a point-by-point basis across pupil

Displays refraction maps in 3-D to see depth of focus (DOF)

Red or hot colors in the maps = myopic refractive powersGreen = emmetropiaBlue or cool colors = hyperopic refractive powers

Control subject on 90 day Placebo -3.00D near stimulus – no improvement

Day 90 Near Vision

Day 90 Far Vision Difference

53-yo patient day 1 of EV06 treatment with 20/30 near at -3.00D target

Day 1 Near Vision Day 1 Far Vision Difference

53 yo Patient after 45 day EV06 treatment with 20-30 near at -3D target

Day 45 Near VisionDay 1 Far Vision Difference

53-yo patient after 90 day EV06 treatment with 20/20 near at -3.00D target

Day 90 Near VisionDay 90 Far Vision Difference

53 yo treated with binocular refraction maps showing great binocular near vision on 3-D

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iTrace Conclusions

20 Significant HOA induced changes on order of -3.00D in central

lens refractive power due to change in lens optical properties (index of refraction and curvature) provides increase depth of field over 90 days with treatment of EV06

With OU treatment binocular near vision is provided with benefit of natural stereopsis over current monovision techniques

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EV-C-003 Post-Treatment Study (Days 150 and 210)

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Assessments

• Efficacy:• Identical to EV-C-002

• Safety:• Identical to EV-C-002

Status

• Enrollment: • EV06: 32 subjects (approx)• Placebo: 16 subjects (approx)

• Last Subject, Last Visit:• October, 2016

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EV06 Conclusions

22 EV06 Ophthalmic Solution

Near Vision can be recovered Restores natural bilateral near vision in presbyopic subjects

84% of presbyopic subjects with 20/40 OU near vision or greater when treated with EV06 vs. 52% in placebo*

53% of presbyopic subjects with ≥0.2 LogMAR change in OU near vision when treated with EV06 vs. 22% in placebo^

Acceptable safety and tolerability profile No Change in Best Corrected Distance Visual Acuity

No Change in Pupil Diameter

No Change in IOP

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Next Steps

23EV06 Phase 2 B Dose Ranging Study Q1 ’17

Target Initiate Phase 3 Pivotal Studies Q2 ‘18 Long-term safetyLonger duration of treatment

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Thank You

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AdvisorsJerry Cagle, PhD Dan Durrie, MDAdrian Glasser, PhD

David Gooden, PhDMarjorie Lou, PhDJayne Weiss, MD

Encore Vision TeamKathryn Crawford, PhDShikha Barman, PhDJudy Gordon, DVMJerry Stein, PhDStella Robertson, PhD

William Garner, PhDMargaret Garner, PhDDennis Dean, PhDTravis Whitfill, MPHLexitas Pharma Services, IncRegulatory Professionals, Inc (RPI)

Board of DirectorsPeter BennettWilliam BurnsAdrienne Graves, PhDJohn Hunkeler, MD

Les KreisRichard Lindstrom, MDEd Tyler (Chairman)