S T R I C T L Y P R I V A T E A N D C O N F I D E N T I A L October 23rd, 2022 Project Zeus Presentation to the Board of Directors

C O N F I D E N T I A L P R O J E C T Z E U S Preliminary Working Draft – For Discussion Purposes Only Zeus last 12 months stock price performance – for reference only Source: Company filings, press releases, FactSet as of 10/21/22 Note: Unaffected date (09/30/22) represents last trading day before Sparrow submitted non-binding offer to acquire remaining shares in Zeus 10/22 final proposal: $27.00 Unaffected 52-week high (11/03/21): $23.87 $24.54 10/02 proposal: $22.75 Unaffected calendar year high (09/12/22): $20.44 Unaffected price (09/30/22): $17.96 Stock price 1

C O N F I D E N T I A L P R O J E C T Z E U S Preliminary Working Draft – For Discussion Purposes Only Select precedent all-cash squeeze-out acquisitions – for reference only Source: FactSet and Company filings Note: Market data as of 10/21/22; Represents select United States all-cash minority squeeze-out offers (both completed and pending) of over $100mm since 2008 where the acquiror owned 50% or more in the target; Excludes management buyouts 1 Announcement date defined as the date of announcement of definitive agreement; 2 Unaffected closing share price prior to first public offer Transaction details Offer price Offer Premium to unaffected2 Ann. Date1 Acquiror Target Tender / Vote % stake acquired Deal value ($mm) Initial Final % change Initial Final 21-Jun-22 TPG Capital LP Convey Health Solutions Holdings Vote 25.3% $163 $9.00 $10.50 16.7% 108.3% 143.1% 02-Jun-22 Brookfield Asset Management / Hartree Partners Sprague Resources LP Vote 25.5% $127 $16.50 $19.00 15.2% 10.6% 27.3% 25-May-22 Axar Capital Management LP StoneMor Partners LP Vote 25.4% $109 $3.00 $3.50 16.7% 43.5% 67.5% 09-Nov-21 Geneve Corp Independence Holding Co Vote 37.5% $335 $50.00 $57.00 14.0% 19.0% 35.7% 24-Aug-21 Banco Santander SA / Santander Holdings USA Santander Consumer USA Tender 19.8% $2,530 $39.00 $41.50 6.4% 7.1% 13.9% 08-Mar-21 Roivant Sciences Ltd Immunovant Inc – 42.5% – $15.39 – – – – 12-Nov-20 Sparrow Biopharma Inc Urovant Sciences Ltd Vote 28.0% $217 $12.50 $16.25 30.0% 58.0% 105.4% 31-Aug-20 Ionis Pharmaceuticals Akcea Therapeutics Tender 24.1% $536 $16.00 $18.15 13.4% 40.6% 59.5% 19-Aug-20 Dufry AG Hudson Ltd. Vote 42.6% $311 $7.70 $7.70 – 50.1% 50.1% 21-Feb-20 Kyocera Corp AVX Corp Tender 28.0% $1,046 $19.50 $21.75 11.5% 29.7% 44.6% 09-May-19 Employers Mutual Casualty Co. EMC Insurance Group Inc Vote 45.5% $371 $30.00 $36.00 20.0% 25.1% 50.1% 19-Jun-18 Roche Holdings AG Foundation Medicine Inc Tender 43.4% $2,257 $133.00 $137.00 3.0% 30.5% 34.4% 06-Sep-16 Icahn Enterprises L.P. Federal-Mogul Holdings Corp. Tender 18.0% $305 $7.00 $10.00 42.9% 40.6% 100.8% 26-Jul-16 American Financial Group Inc National Interstate Corp Vote 48.7% $315 $30.00 $32.00 6.7% 32.7% 41.5% 09-Mar-16 Hallmark Cards Inc Crown Media Holdings Inc Tender 9.7% $176 $5.05 $5.05 – 2.4% 2.4% 16-Sep-13 Chiesi Farmaceutici S.p.A Cornerstone Therapeutics Inc Vote 35.0% $265 $6.55 $9.50 45.0% 22.4% 77.6% 01-Mar-13 Danfoss A/S Sauer-Danfoss Inc Tender 24.4% $690 $49.00 $58.50 19.4% 24.4% 48.6% 21-Apr-11 CNA financial corporation CNA Surety corporation Tender 38.0% $466 $22.00 $26.55 20.7% 14.3% 37.9% 21-Mar-10 CONSOL Energy Inc. CNX Gas Corp. Tender 16.7% $967 $38.25 $38.25 – 45.8% 45.8% 25th percentile 24.3% $229 6.5% 19.9% 36.2% Average 30.4% $621 15.6% 33.6% 54.8% Median 28.0% $325 14.6% 30.1% 47.2% 75th percentile 40.3% $652 19.8% 42.8% 65.5% Healthcare deals (USD$ in millions, except per share data); Based on public information 2

($mm except mm for share count and $ / share for per share data); Based on Sparrow management assumptions and public information Final proposal value per share $27.00 Common shares outstanding 96.8 Fully diluted shares outstanding 107.7 Fully diluted equity value $2,908 (+) Net debt1 25 Illustrative transaction value $2,933 Value of current stake Current shares held2 45.8 % DSP ownership2 42.5% Total equity value of current stake2 $1,237 Remaining shares to be acquired 61.9 % ownership of remaining stake 57.5% Total equity value of remaining stake $1,672 Premium / (Discount) to: Current price (10/21/22) $24.54 10% Unaffected price (09/30) $17.96 50% 52-week high (as of 09/30) $23.87 13% 52-week low (as of 09/30) $7.78 247% VWAP from proposal (since 10/03) $24.66 9% 30 - day VWAP (as of 09/30) $18.09 49% 60 - day VWAP (as of 09/30) $17.38 55% 90 - day VWAP (as of 09/30) $16.23 66% C O N F I D E N T I A L P R O J E C T Z E U S Preliminary Working Draft – For Discussion Purposes Only Summary of proposal – for reference only Source: Sparrow management projections; company filings, press releases, FactSet as of 10/21/22 Note: Unaffected date (09/30/22) represents last trading day before Sparrow submitted non-binding offer to acquire remaining shares in Zeus 1 Sparrow management estimates as of 03/31/23; 2 Excludes Raven Top-Up Shares 3

C O N F I D E N T I A L P R O J E C T Z E U S Preliminary Working Draft – For Discussion Purposes Only Unaffected price (09/30) $17.96 10/02 proposal $22.75 $25.00 $25.25 $25.50 $25.75 $26.00 $26.25 $26.50 $26.75 10/22 final proposal $27.00 Premium / (discount) analysis Current price (10/21/22) $24.54 (27%) (7%) 2% 3% 4% 5% 6% 7% 8% 9% 10% Unaffected price (09/30) $17.96 0% 27% 39% 41% 42% 43% 45% 46% 48% 49% 50% 52 - week high (as of 09/30) $23.87 (25%) (5%) 5% 6% 7% 8% 9% 10% 11% 12% 13% 52 - week low (as of 09/30) $7.78 131% 192% 221% 225% 228% 231% 234% 237% 241% 244% 247% VWAP from proposal (since 10/02) $24.66 (27%) (8%) 1% 2% 3% 4% 5% 6% 7% 8% 9% 30 - day VWAP (as of 09/30) $18.09 (1%) 26% 38% 40% 41% 42% 44% 45% 46% 48% 49% 60 - day VWAP (as of 09/30) $17.38 3% 31% 44% 45% 47% 48% 50% 51% 52% 54% 55% 90 - day VWAP (as of 09/30) $16.23 11% 40% 54% 56% 57% 59% 60% 62% 63% 65% 66% Common shares outstanding 96.8 96.8 96.8 96.8 96.8 96.8 96.8 96.8 96.8 96.8 96.8 Fully diluted shares outstanding 106.6 107.3 107.5 107.6 107.6 107.6 107.6 107.6 107.7 107.7 107.7 Fully diluted equity value $1,915 $2,441 $2,688 $2,716 $2,743 $2,771 $2,798 $2,826 $2,853 $2,881 $2,908 (+) Net debt1 25 25 25 25 25 25 25 25 25 25 25 Illustrative transaction value $1,940 $2,466 $2,713 $2,741 $2,768 $2,796 $2,823 $2,851 $2,878 $2,906 $2,933 Value of current stake Current shares held 2 45.8 45.8 45.8 45.8 45.8 45.8 45.8 45.8 45.8 45.8 45.8 % DSP ownership 2 43.0% 42.7% 42.6% 42.6% 42.6% 42.6% 42.6% 42.5% 42.5% 42.5% 42.5% Total equity value of current stake 2 $823 $1,042 $1,145 $1,156 $1,168 $1,179 $1,191 $1,202 $1,214 $1,225 $1,237 Remaining shares to be acquired 60.8 61.5 61.7 61.8 61.8 61.8 61.8 61.8 61.9 61.9 61.9 % ownership of remaining stake 57.0% 57.3% 57.4% 57.4% 57.4% 57.4% 57.4% 57.5% 57.5% 57.5% 57.5% Total equity value of remaining stake $1,092 $1,399 $1,543 $1,559 $1,575 $1,591 $1,607 $1,623 $1,639 $1,655 $1,672 Zeus analysis at various prices – for reference only Source: Sparrow management projections; company filings, press releases, FactSet as of 10/21/22 Note: Unaffected date (09/30/22) represents last trading day before Sparrow submitted non-binding offer to acquire remaining shares in Zeus 1 Sparrow management estimates as of 03/31/23; 2 Excludes Raven Top-Up Shares ($mm except mm for share count and $ / share for per share data); Based on Sparrow management assumptions and public information 4

C O N F I D E N T I A L P R O J E C T Z E U S Preliminary Working Draft – For Discussion Purposes Only This presentation was prepared exclusively for the benefit and internal use of the J.P. Morgan client to whom it is directly addressed and delivered (including such client’s subsidiaries, the “Company”) in order to assist the Company in evaluating, on a preliminary basis, the feasibility of a possible transaction or transactions and does not carry any right of publication or disclosure, in whole or in part, to any other party. This presentation is for discussion purposes only and is incomplete without reference to, and should be viewed solely in conjunction with, the oral briefing provided by J.P. Morgan. Neither this presentation nor any of its contents may be disclosed or used for any other purpose without the prior written consent of J.P. Morgan. The information in this presentation is based upon any management forecasts supplied to us and reflects prevailing conditions and our views as of this date, all of which are accordingly subject to change. J.P. Morgan’s opinions and estimates constitute J.P. Morgan’s judgment and should be regarded as indicative, preliminary and for illustrative purposes only. In preparing this presentation, we have relied upon and assumed, without independent verification, the accuracy and completeness of all information available from public sources or which was provided to us by or on behalf of the Company or which was otherwise reviewed by us. In addition, our analyses are not and do not purport to be appraisals of the assets, stock, or business of the Company or any other entity. J.P. Morgan makes no representations as to the actual value which may be received in connection with a transaction nor the legal, tax or accounting effects of consummating a transaction. Unless expressly contemplated hereby, the information in this presentation does not take into account the effects of a possible transaction or transactions involving an actual or potential change of control, which may have significant valuation and other effects. Notwithstanding anything herein to the contrary, the Company and each of its employees, representatives or other agents may disclose to any and all persons, without limitation of any kind, the U.S. federal and state income tax treatment and the U.S. federal and state income tax structure of the transactions contemplated hereby and all materials of any kind (including opinions or other tax analyses) that are provided to the Company relating to such tax treatment and tax structure insofar as such treatment and/or structure relates to a U.S. federal or state income tax strategy provided to the Company by J.P. Morgan. J.P. Morgan's policies on data privacy can be found at http://www.jpmorgan.com/pages/privacy. J.P. Morgan is a party to the SEC Research Settlement and as such, is generally not permitted to utilize the firm's research capabilities in pitching for investment banking business. All views contained in this presentation are the views of J.P. Morgan’s Investment Bank, not the Research Department. J.P. Morgan’s policies prohibit employees from offering, directly or indirectly, a favorable research rating or specific price target, or offering to change a rating or price target, to a subject company as consideration or inducement for the receipt of business or for compensation. J.P. Morgan also prohibits its research analysts from being compensated for involvement in investment banking transactions except to the extent that such participation is intended to benefit investors. Changes to Interbank Offered Rates (IBORs) and other benchmark rates: Certain interest rate benchmarks are, or may in the future become, subject to ongoing international, national and other regulatory guidance, reform and proposals for reform. For more information, please consult: https://www.jpmorgan.com/global/disclosures/interbank_offered_rates JPMorgan Chase & Co. and its affiliates do not provide tax advice. Accordingly, any discussion of U.S. tax matters included herein (including any attachments) is not intended or written to be used, and cannot be used, in connection with the promotion, marketing or recommendation by anyone not affiliated with JPMorgan Chase & Co. of any of the matters addressed herein or for the purpose of avoiding U.S. tax-related penalties. J.P. Morgan is a marketing name for investment businesses of JPMorgan Chase & Co. and its subsidiaries and affiliates worldwide. Securities, syndicated loan arranging, financial advisory, lending, derivatives and other investment banking and commercial banking activities are performed by a combination of J.P. Morgan Securities LLC, J.P. Morgan Securities plc, J.P. Morgan AG, JPMorgan Chase Bank, N.A. and the appropriately licensed subsidiaries and affiliates of JPMorgan Chase & Co. worldwide. J.P. Morgan deal team members may be employees of any of the foregoing entities. J.P. Morgan Securities plc is authorized by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority. J.P. Morgan AG is authorized by the German Federal Financial Supervisory Authority (BaFin) and regulated by BaFin and the German Central Bank (Deutsche Bundesbank). For information on any J.P. Morgan German legal entity see: https://www.jpmorgan.com/country/US/en/disclosures/legal-entity-information#germany. For information on any other J.P. Morgan legal entity see: https://www.jpmorgan.com/country/GB/EN/disclosures/investment-bank-legal-entity-disclosures. This presentation does not constitute a commitment by any J.P. Morgan entity to underwrite, subscribe for or place any securities or to extend or arrange credit or to provide any other services. Copyright 2022 JPMorgan Chase & Co. All rights reserved. JPMorgan Chase Bank, N.A., organized under the laws of U.S.A. with limited liability.