Pieris Pharmaceuticals Investor Presentation — October 2019

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INVESTORPRESENTATIONOCTOBER2019Forward LookingStatementsThispresentationcontainsforward-lookingstatementsasthattermisdefinedinSection27AoftheSecuritiesActof1933andSection21EoftheSecuritiesExchangeActof1934.Statementsinthispressreleasethatarenotpurelyhistoricalareforward-lookingstatements.Suchforward-lookingstatementsinclude,amongotherthings,referencestonoveltechnologiesandmethodsandourbusinessandproductdevelopmentplans,includingtheadvancementofourproprietaryandco-developmentprogramsintoandthroughtheclinic.Actualresultscoulddifferfromthoseprojectedinanyforward-lookingstatementsduetonumerousfactors.Suchfactorsinclude,amongothers,ourabilitytoraisetheadditionalfundingwewillneedtocontinuetopursueourbusinessandproductdevelopmentplans;theinherentuncertaintiesassociatedwithdevelopingnewproductsortechnologiesandoperatingasadevelopmentstagecompany;ourabilitytodevelop,completeclinicaltrialsfor,obtainapprovalsforandcommercializeanyofourproductcandidates,includingourabilitytorecruitandenrollpatientsinourstudies;ourabilitytoaddresstherequestsoftheFDA;competitionintheindustryinwhichweoperateandmarketconditions.Theseforward-lookingstatementsaremadeasofthedateofthispressrelease,andweassumenoobligationtoupdatetheforward-lookingstatements,ortoupdatethereasonswhyactualresultscoulddifferfromthoseprojectedintheforward-lookingstatements,exceptasrequiredbylaw.InvestorsshouldconsultalloftheinformationsetforthhereinandshouldalsorefertotheriskfactordisclosuresetforthinthereportsandotherdocumentswefilewiththeSECavailableatwww.sec.gov,includingwithoutlimitationtheCompany'sAnnualReportonForm10-KforthefiscalyearendedDecember31,2018andtheCompany'sQuarterlyReportsonForm10-Q.2What are Anticalin®proteins?A Novel Therapeutic Class with Favorable Drug-Like Properties •Derived from lipocalins (human extracellular binding proteins)•TLC and NGAL lipocalins used as “templates” for drug development•Engineerable binding pocket for robust target engagement•Monomeric, monovalent, small size (~18 kDavs 150kDa mAbs)•Can be formulated for inhalable delivery•Can be formatted into novel bi/multispecificconstructs•Broad IP positionUnderpinned by a Powerful Drug Discovery Platform•Highly diverse libraries (>1011) of potential drug candidates…•Automated high-throughput drug screening technology (phage display)…•Extensive protein engineering know-how…•…resulting in high hit rates, quick-to-development candidatesAnticalin ProteinTarget

4•Respiratory: Co-developed (AstraZeneca) inhaled IL4-Rαantagonist (PRS-060)üSAD phase 1 data at ATS 2019üMAD phase 1 data, including FeNOreduction vs. placebo, at ERS 2019•IO:Wholly-owned bispecific 4-1BB agonist (PRS-343)qMonotherapy phase 1 data at SITC 2019qCombination phase 1 initial data2019 Catalysts

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