Kiora Pharmaceuticals Investor Presentation — November 2021

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November 15, 2021Safe Harbor and Disclaimer

This presentation contains forward -looking statements that involve substantial risks and uncertainties. Any statements in this p resentation about our

future expectations, plans and prospects, including but not limited to statements about our acquisition of Combangio , Inc. (the “Acquisition”) and the

other transactions contemplated by the Acquisition, and any other statements about future expectations, prospects, estimates and other matters that are

dependent upon future events or developments, including statements related to our expectations with respect to the potential financial impact and

benefits of the Acquisition, including our expectations with respect to milestone payments pursuant to the Agreement and Plan ofMerger with

Combangio , Inc., and expectations with respect to and potential advantages of KPI -012 or any other product candidate that we may acquire in connection

with the Acquisition, the future development or commercialization of KPI -012, conduct and timelines of clinical trials, the clin ical utility of KPI -012 for

Persistent Corneal Epithelial Defect (“PCED”), plans for filing of regulatory approvals, the market opportunity for KPI -012 for PCED and other indications,

plans to pursue research and development of KPI -012 for other indications, the sufficiency of our existing cash resources and ot her statements containing

the words “anticipate,” “believe,” “estimate,” “expect,” “intend,” “may,” “plan,” “predict,” “project,” “target,” “potential, ” “likely,” “will,” “would,” “could,”

“should,” “continue,” and similar expressions constitute forward -looking statements within the meaning of The Private Securities Litigation Reform Act of

1955. Actual results may differ materially from those indicated by such forward -looking statements as a result of various import ant factors, including: our

ability to realize the anticipated benefits of the Acquisition, including the possibility that the expected benefits, synergi es and growth prospects from the

Acquisition will not be realized or will not be realized within the expected time period or at all, negative effects of the a nnouncement of the Acquisition on

the market price of our common stock, significant transaction costs, unknown liabilities, the risk of litigation and/or regul atory actions related to the

Acquisition, the uncertainties inherent in the initiation and conduct of clinical trials, availability and timing of data fro m clinical trials, whether results of

early clinical trials or trials in different disease indications will be indicative of the results of ongoing or future trial s, whether results of the Phase 1/2