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Property of Inventiva Advancing Lanifibranor: Potential Best-in-Disease Oral Therapy for MASH A DIFFERENTIATED ORAL ANTIFIBROTIC CANDIDATE DESIGNED TO ADDRESS PROGRESSIVE FIBROSIS IN F2/F3 MASH J.P. Morgan Healthcare Conference 2026
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Property of Inventiva Corporate Presentation Disclaimer This presentation contains “forward-looking statements” within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. All statements, other than statements of historical facts, included in this presentation are forward-looking statements. These statements include, but are not limited to, forecasts and estimates with respect to Inventiva’s clinical trials, including the design, duration, timing, costs and results thereof and regulatory matters with respect thereto, the information, insights and impacts that may be gathered from clinical trials, the potential therapeutic benefits of lanifibranor, the potential of lanifibranor to address patient needs, including expectations regarding lanifibranor’s efficacy and safety profile, market forecasts including with respect to products developed by other companies, estimates of addressable markets, including the growing demand and urgency for MASH treatments, targeted development, potential regulatory submission, approval and commercialization, including their anticipated timelines, Inventiva’s pipeline and clinical development plans, the opportunity for lanifibranor based on the current clinical program, future activities, expectations, plans, growth and prospects of Inventiva, forecasts and estimates with respect to Inventiva’s estimated cash runway, the potential exercise of warrants and pre-funded warrants, including the securities issued in connection with Inventiva’s multi-tranche equity financing announced on October 14, 2024 (the “Structured Financing”), the anticipated repayment of the loan facility with the European Investment Bank (“EIB”), and Inventiva’s ability to raise additional funds. Certain of these statements, forecasts and estimates can be recognized by the use of words such as, without limitation, “believes”, “anticipates”, “expects”, “intends”, “plans”, “seeks”, “estimates”, “may”, “will”, “would”, “could”, “might”, “should”, “designed”, “hopefully”, “target”, “potential”, “opportunity”, “possible”, “aim”, and “continue” and similar expressions. Such statements are not historical facts but rather are statements of future expectations and other forward- looking statements that are based on management's beliefs. These statements reflect such views and assumptions prevailing as of the date of the statements and involve known and unknown risks and uncertainties that could cause future results, performance, or future events to differ materially from those expressed or implied in such statements. Actual events are difficult to predict and may depend upon factors that are beyond Inventiva's control. There can be no guarantees with respect to product candidates that the clinical trial results will be available on their anticipated timeline, that future clinical trials will be initiated as anticipated, that product candidates will receive the necessary regulatory approvals, or that any of the anticipated milestones by Inventiva or its partners will be reached on their expected timeline, or at all. Future results may turn out to be materially different from the anticipated future results, performance or achievements expressed or implied by such statements, forecasts and estimates due to a number of factors, including that Inventiva cannot provide assurance on the impacts of the Suspected Unexpected Serious Adverse Reaction, including the ultimate impact on the results or timing of the NATiV3 trial or regulatory matters with respect thereto, that Inventiva is a clinical-stage company with no approved products and no historical product revenues, Inventiva has incurred significant losses since inception, Inventiva has a limited operating history and has never generated any revenue from product sales, Inventiva will require additional capital to finance its operations, in the absence of which, Inventiva may be required to significantly curtail, delay or discontinue one or more of its research or development programs or be unable to expand its operations or otherwise capitalize on its business opportunities and may be unable to continue as a going concern, Inventiva’s ability to obtain financing and to enter into potential transactions or further arrangements with its creditors and the impacts therefrom, Inventiva's future success is dependent on the successful clinical development, regulatory approval and subsequent commercialization of current and any future product candidates, preclinical studies or earlier clinical trials are not necessarily predictive of future results and the results of Inventiva's and its partners’ clinical trials may not support Inventiva's and its partners’ product candidate claims, Inventiva's expectations with respect to its clinical trials may prove to be wrong and regulatory authorities may require holds and/or amendments to Inventiva’s clinical trials, Inventiva’s expectations with respect to the clinical development plan for lanifibranor for the treatment of MASH may not be realized and may not support the approval of a New Drug Application, Inventiva and its partners may encounter substantial delays beyond expectations in their clinical trials or fail to demonstrate safety and efficacy to the satisfaction of applicable regulatory authorities, the ability of Inventiva and its partners to recruit and retain patients in clinical studies, enrollment and retention of patients in clinical trials is an expensive and time-consuming process and could be made more difficult or rendered impossible by multiple factors outside Inventiva's and its partners’ control, Inventiva's product candidates may cause adverse drug reactions or have other properties that could delay or prevent their regulatory approval, or limit their commercial potential, Inventiva faces substantial competition and Inventiva’s and its partners' business, and preclinical studies and clinical development programs and timelines, Inventiva’s financial condition and results of operations could be materially and adversely affected by changes in law and regulations, unfavorable conditions in its industry, geopolitical events, such as the war in Ukraine and related sanctions, impacts and potential impacts on the initiation, enrollment and completion of Inventiva’s and its partners’ clinical trials on anticipated timelines and the conflict in the Middle East and the related risk of a larger conflict, health epidemics, and macroeconomic conditions, including developments in international trade policies, global inflation, financial and credit market fluctuations, tariffs and other trade barriers, political turmoil and natural catastrophes, uncertain financial markets and disruptions in banking systems. Given these risks and uncertainties, no representations are made as to the accuracy or fairness of such forward-looking statements, forecasts, and estimates. Furthermore, forward-looking statements, forecasts and estimates only speak as of the date of this presentation. Readers are cautioned not to place undue reliance on any of these forward-looking statements. Please refer to the Universal Registration Document for the year ended December 31, 2024, filed with the Autorité des Marchés Financiers on April 15, 2025, and the Annual Report on Form 20-F for the year ended December 31, 2024, filed with the Securities and Exchange Commission (the “SEC”) on April 15, 2025, for other risks and uncertainties affecting Inventiva, including those described under the caption “Risk Factors”, and in future filings with the SEC. Other risks and uncertainties of which Inventiva is not currently aware may also affect its forward-looking statements and may cause actual results and the timing of events to differ materially from those anticipated. All information in this presentation is as of the date of the release. Except as required by law, Inventiva has no intention and is under no obligation to update or review the forward-looking statements referred to above. Consequently, Inventiva accepts no liability for any consequences arising from the use of any of the above statements. This presentation includes information and statements of third parties. Inventiva does not make any representation with respect to the accuracy or otherwise with respect to such third party information. This presentation shall not constitute an offer to sell or a solicitation of an offer to buy securities or an invitation or inducement to engage in investment activity nor shall there be any sale of securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification of such securities under the securities law of any such jurisdiction. 2
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Property of Inventiva Corporate Presentation Addressing Remaining Unmet Medical Needs in MASH Advancing a differentiated oral antifibrotic as a potential new treatment option for patients with MASH 3
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Property of Inventiva Corporate Presentation Structured to deliver topline results expected in H2 2026 and prepare for potential launch Moving Towards Approval & Launch of Lanifibranor • Phase 3 trial fully enrolled, patient population mirrors successful Phase 2b • Topline data expected in second half of 2026 • Regulatory filings expected in 2027, potential commercial launch in 2028 if approved Robust Financial Position • Successful follow-on financing in November 2025 • $172M raised from top-tier investors (existing and new)(1) • Cash runway until the middle of Q3 2027 assuming full exercise of 3rd tranche(2) Extensive Medical, Regulatory and Commercial Experience • Andrew Obenshain, MBA, CEO (formerly BlueBird Bio) • Jason Campagna, MD, PhD, Chief Medical Officer, Head of R&D • Martine Zimmermann, PharmD, EVP, Regulatory Affairs and Quality • Nazira Amra, MD, MBA Chief Commercial Strategy Officer Clinical momentum, financial backing and strong leadership Poised to Potentially Capture Significant Value in a Multi-Billion Dollar MASH Market 4 (1) Gross proceeds. (2) The third tranche of up to €116 million would consist of potential proceeds from the exercise of warrants for ordinary shares, at the discretion of investors, following the potential publication of positive results in NATiV3 by no later than June 15, 2027. This estimate is based on the Company's current business plan and excludes any potential milestones payable to or by the Company, any additional expenditures related to other product candidates or resulting from the potential in licensing or acquisition of additional product candidates or technologies, or any associated development the Com pany may pursue. The Company may have based this estimate on assumptions that are incorrect, and the Company may end up using its resources sooner than anticipated.
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Property of Inventiva Corporate Presentation Addressing a growing urgency for MASH treatments Medical and scientific understanding of the disease has undergone significant recent changes 5 MASH is not a single- pathway disease. Durable impact requires liver-targeted activity across metabolic, inflammatory and fibrotic drivers. Clin Mol Hepatol. 2025 Feb;31(Suppl):S32- S50 Journal of Diabetes and its Complications, Volume 39, Issue 10, 2025, MASH is a cardiometabolic disease: Not just a liver disease; part of a “cardiometabolic continuum” Systemic risk in patients: Highly associated with comorbidities; over 60% of patients with MASH and advanced fibrosis have T2D, increasing their risk of major adverse liver outcomes >60% Cirrhosis (F4) now understood as a dynamic process: Cirrhosis isn’t just scar tissue; but a combination of structural fibrosis and altered hepatic physiology MASH is a chronic, progressive disease and the no. 1 cause of liver- related death.
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Property of Inventiva Corporate Presentation Underdiagnosed and undertreated, with rapidly expanding commercial validation Early uptake signals demand, not disease resolution — creating a potential multi-billion-dollar opportunity for lanifibranor 6 Clinical need and market are expanding: Strong and growing demand for more potent liver directed oral therapies such as lanifibranor that lead to improvement in fibrosis MASH market expected to exceed $15 billion by 2035. The only other oral drug approved has already reached approximately $1 billion in sales since its launch in April 2024. Inventiva is well-positioned to potentially bring the best-in-disease oral drug to patients with progressive fibrotic MASH. Only ~1.9 million diagnosed with MASH in U.S in 2025, representing ~ 10% of the patients with MASH. +25% compared to the 2024 estimate. ~910k patients have clinically actionable F2/F3 disease, 374k of them are under treater care (~40%). +20% of patients under treated care compared to the 2024 estimate. Estes. 2018; Lui et al 2022, Prevalence taken from 2018 and conservative growth adjustments applied; 2) Analysis conducted by Forian using CHRONOS ©2025 Forian Inc. and its licensors. All Rights Reserved. Based on based on recent industry market research forecasts. Madrigal Pharmaceuticals Third-Quarter 2025 Financial Results
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Property of Inventiva Corporate Presentation Different mechanisms address different stages of fibrotic MASH Priority patient segment at time of anticipated lanifibranor launch, if approved, based on KOL feedback Lanifibranor is designed to play a key role in several high-unmet-need MASH patient segments 7 Source: KOL Interviews; Inventiva Analysis based on Phase 3 and Phase 2b results and safety profiles, as well as route of administration. FGF21s most likely used in advanced patients due to GI side effects, bone density reduction, and injectable administration GLP-1s are modestly effective on fibrosis, but key backbone therapy for patients with obesity and T2D with cardiometabolic benefits, MASH specific Rx primarily anticipated in early stage THR-β agonists have modest efficacy, best suited for early-stage patients Pan-PPAR agonists have a strong antifibrotic effect and insulin sensitivity profile, and manageable adverse events PROGRESSIONF1 F2 F3 F4 Cirrhotic MASH (~25%) (~27%) (~30%) INCRETINSLIVER-DIRECTED THERAPIES Fibrotic MASH GLP-1 THR-β FGF21 Pan-PPAR DECOMPENSATED
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Property of Inventiva Corporate Presentation Balanced pan-PPAR Designed to Address the Biology of MASH A new chemical entity engineered to deliver coordinated metabolic, anti-inflammatory and antifibrotic effects 8
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Property of Inventiva Corporate Presentation Rational pan-PPAR design informed by decades of biology Lanifibranor: Low-potency, balanced PPAR-α/δ/γ activation designed to avoid receptor dominance PPARs (peroxisome proliferator- activated receptors) enable coordinated modulation of the metabolic, inflammatory, and fibrotic pathways at the core of MASH. 9 PPARγ PPARα PPARβ/ δ Master Regulators of Nutrient and Energy Metabolism • Lanifibranor has been designed at the physiologic sweet spot for broad and best-in-class efficacy, clean and durable safety profile. • Engineered to maximize therapeutic benefit without transcriptional overload or high- potency risks. Cofactor Recruitment Comparison Lanifibranor Rosiglitazone First-in-class new chemical entity. Distinct from fibrates and thiazolidinediones (TZDs). Balanced and low potency across all three isoforms. Engineered to mirror the safe potency range of pioglitazone and avoid the high γ-potency of rosiglitazone (~ 20x higher). Balanced PPAR isoforms engagement. Avoid dominance of a single receptor and delivers coordinated metabolic, inflammatory, and antifibrotic activity. Differentiated co- activator fingerprint. Enable metabolic, anti- inflammatory, and antifibrotic benefits. 1st
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Property of Inventiva Corporate Presentation Striking the PPAR Balance 10 Steatosis (abnormal fat buildup) PPARγ Fatty acid uptake Fatty acid breakdown (catabolism) Fat creation (lipogenesis) Inflammation and ballooning PPARγ, PPARα, PPARδ NFkB-dependent gene activation Inflammasome Ballooning Fibrosis PPARγ, PPARα Stellate cell proliferation and activation Collagen and fibronectin production Vascular PPARγ, PPARδ Portal pressure LSEC capillarization Intrahepatic vascular resistance LIVER WHOLE BODY Metabolism PPARγ, PPARα, PPARδ Insulin sensitivity HDL-C Triglycerides
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Property of Inventiva Corporate Presentation Clinical Milestones Phase 2b NATIVE trial showed compelling data; Phase 3 underway, with topline results expected in H2 2026 11
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Property of Inventiva Corporate Presentation NATIVE Phase 2b trial results support antifibrotic activity with broader metabolic impact Within 24 weeks, lanifibranor improved fibrosis and key metabolic markers. Histologic improvement observed alongside favorable cardiometabolic markers at 24 weeks 12 effect size on improvement in fibrosis with no worsening of MASH versus placebo. effect size on the dual endpoint of fibrosis improvement and MASH resolution. Improved cardiometabolic, glycemic, and metabolic markers.
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Property of Inventiva Corporate Presentation lanifibranor, 800 mg once daily lanifibranor, 1200 mg once daily Placebo Phase 2b NATIVE trial design Once-daily oral dosing; two doses, 800mg and 1200mg Main Inclusion Criteria: Patients with biopsy-proven MASH confirmed to have Steatosis-Activity-Fibrosis (SAF) scores of 1-3 for steatosis, 3-4 for activity, and <4 for fibrosis. 13 End of treatment Liver biopsy Screening Liver biopsy 24-week treatment + 4-week follow-up Double blind, randomized, placebo-controlled ITT: 247 patients 1:1:1 randomization Stratification on type 2 diabetes A Randomized, Controlled Trial of the Pan-PPAR Agonist Lanifibranor in NASH, N Engl J Med 2021;385:1547-1558 100 80 60 40 20 0 NUMBER OF PATIENTS DISEASE STAGE F1 F2 F3 64 82 101
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Property of Inventiva Corporate Presentation Statistically significant results on key Phase 3 FDA and EMA primary endpoints 14 Fibrosis improvement ≥ 1 stage with no worsening of MASH (N=247) Resolution of MASH with no worsening of fibrosis (N=247) Resolution of MASH and improvement of fibrosis(1) (N=247) Placebo 800 mg 1200 mg 7% 21% 31% lanifibranor (1) ) Resolution of MASH and improvement of fibrosis at week 24: NAS-I = 0 or 1, NAS-B = 0 and an improvement of NAS-F ≥ 1 stage Phase 3 primary endpoint 14% effect size* 24% effect size* <0.001*0.017* 24% 28% 42% 19% 33% 45% 0.011*0.53 <0.001*<0.043* 18% effect size 14% effect size 26% effect size Significant fibrosis improvement versus placebo at only 24 weeks
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Property of Inventiva Corporate Presentation Statistically significant results on key Phase 3 FDA and EMA primary endpoints 15 Fibrosis improvement ≥ 1 stage with no worsening of MASH (N=247) Resolution of MASH with no worsening of fibrosis (N=247) Resolution of MASH and improvement of fibrosis(1) (N=247) Resolution of MASH and improvement of fibrosis (1) in F2 / F3 patients (N=188) Resolution of MASH and improvement of fibrosis (1) in patients with T2D (N=103) Placebo 800 mg 1200 mg 3% 24% 29% 7% 21% 31% 7% 24% 33% lanifibranor (1) ) Resolution of MASH and improvement of fibrosis at week 24: NAS-I = 0 or 1, NAS-B = 0 and an improvement of NAS-F ≥ 1 stage Phase 3 primary endpoint 14% effect size* 24% effect size* <0.001*0.017* 24% 28% 42% 19% 33% 45% 0.011*0.53 <0.001*<0.043* 26% effect size14% effect size 18% effect size Significant fibrosis improvement versus placebo at only 24 weeks with greater effect size in patients with T2D Phase 3 patient population 17% effect size* 26% effect size* 21% effect size* 26% effect size*
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Property of Inventiva Corporate Presentation Biomarkers support compelling histological findings Statistically significant, rapid, and sustained biomarker responses at 24 weeks 16 Intra-hepatic Benefits Liver Health • Statistically significant decrease in liver enzymes (ALT, AST, GGT), with rapid and sustained improvement
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Property of Inventiva Corporate Presentation Biomarkers support compelling histological findings Statistically significant, rapid, and sustained biomarker responses at 24 weeks 17 Intra-hepatic Benefits Liver Health • Statistically significant decrease in liver enzymes (ALT, AST, GGT), with rapid and sustained improvement Extra-hepatic Benefits Cardiometabolic Health • Lipids: Improvements in HDL cholesterol and TGs without a change in LDL cholesterol • Glycemic Control: Significant reductions in HbA1c + • Significant improvements in hepatic and muscular insulin sensitivity • Decrease in diastolic blood pressure • Increase in adiponectin levels, with a relative beneficial increase of ~2.8x and ~3.5x for each dose group
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Property of Inventiva Corporate Presentation NATIVE safety and tolerability profile Investigator-reported most-frequent adverse events(1) Lanifibranor was purposely designed to achieve low- potency, and balanced PPAR- α/δ/γ activation to avoid receptor dominance and associated safety concerns. 18 Placebo (N = 81) 800 mg (N = 83) 1200 mg (N = 83) Diarrhea 1 (1%) 8 (10%) 10 (12%) Fatigue§ 8 (10%) 3 (4%) 11 (13%) Nausea 3 (4%) 8 (10%) 7 (8%) Weight gain - 8 (10%) 7 (8%) Peripheral edema** 2 (2.5%) 5 (6%) 7* (8%) Drug-related peripheral edema - 2 (2%) 2 (2%) Headache 4 (5%) 4 (5%) 7 (8%) Abdominal painỻ 4 (5%) 4 (5%) 5 (6%) Dizziness 3 (4%) 2 (2%) 6 (7%) Anemiaǂ - 1 (1%) 6 (7%) Constipation 6 (7%) 3 (4%) 5 (6%) Increase in aminotransferase levelᶲ 1 (1%) 5 (6%) 3 (4%) ¶ Adverse events are the ones reported by investigators and include those that occured in more than 5% of patients in either lanifibranor group. § Fatigue included asthenia. ỻ Abdominal pain included upper and lower abdominal pain. ** Peripheral edema (bilateral ankle edema): usually mild, in most cases no treatment was required, a few patients received diur etics. 4 cases were considered study drug related by the investigator (2 at 800 and 1200 mg each). One case of severe intensity, which resolved by stopping treatment ( lanifibranor 1200mg) for 12 days, without reoccurrence when the study treatment was resumed. All were female patients. ǂ Anemia included iron deficiency anemia and decrease hemoglobin level. ᶲ Increase in aminotransferase level included increased in ALT, AST, or abnormal liver function test result. Approximately 30% of treated patients experienced >5% body- weight increase Less than 10% of cases reported as adverse events by investigators. Weight gain occurred alongside favorable changes in: adiponectin lipids liver enzymes liver histology Pattern consistent with improved insulin sensitivity rather than adverse metabolic effect. (1) A Randomized, Controlled Trial of the Pan-PPAR Agonist Lanifibranor in NASH, N Engl J Med 2021;385:1547-1558
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Property of Inventiva Corporate Presentation Phase 3 trial fully recruited, Designed to be de-risked Primary Endpoint Composite end point of patients having both MASH resolution and 1 stage of fibrosis improvement. Key Secondary Endpoints MASH resolution and no worsening of fibrosis, fibrosis improvement, and no worsening of MASH. GLP-1 Inclusion Patients under a stable dose of GLP-1-RA for at least 3 months prior to screening can be included. Statistical Powering • 90% considered for sample size calculations. • Stratification by fibrosis stage and diabetic status. • NATiV3 fully recruited with 1,009 patients in the main cohort and 410 in the exploratory cohort. 19 48 weeks EoT lanifibranor: 1200 mg once daily lanifibranor: 800 mg once daily 72 weeks of treatment lanifibranor: 1200 mg once daily lanifibranor: 800 mg once daily Placebo: once daily N=1009 lanifibranor: 1200 mg once daily lanifibranor: 800 mg once daily Placebo: once daily N=410 Exploratory cohort Main cohort Active treatment extension trial 72 weeks of treatment ►All patients who complete the main or the exploratory cohort are eligible for the Phase 3 active treatment extension trial EoT, end of treatment; GLP-1, glucagon-like peptide-1; GLP-1-RA, glucagon-like peptide-1 receptor agonist; MASH, metabolic dysfunction-associated steatohepatitis. * As of October 2025. End of treatment biopsy 33% 41.3%55% 42% 67.0% 34.8% 14.0% 0.0%NATiV3 N=1009 NATIVE N=247 Noncirrhotic MASH and F2-F3 fibrosis Screen-failed patients from the main cohort F1-F4 fibrosis Phase 3 NATiV3 Clinical Trial T2D F1 F2 GLP-1 RA
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Property of Inventiva Corporate Presentation Next Steps An accelerated timeline for potential market approval, product launch, and commercial partnerships 20
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Property of Inventiva Corporate Presentation Plan to confirm clinical benefit in compensated cirrhosis Preclinical and early clinical signals suggest lanifibranor may provide a disease- modifying oral option for patients with compensated cirrhotic MASH, a high unmet need. 21 Planned Regulatory Filing Accelerated Approval (FDA) and Conditional Approval (EMA) filing on Phase 3 histology. Confirmatory Trial Starting outcomes study in patients with compensated cirrhosis MASH to confirm clinical benefits: • Prevents progression to cirrhosis • Prevents or reduces associated clinical outcomes: risk of decompensation, HCC, liver transplant
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Property of Inventiva Corporate Presentation Lanifibranor targets the core pathophysiology underlying both MASH and cACLD Lanifibranor engages the core drivers of F4 progression: PPAR-γ inactivates hepatic stellate cells; restores quiescence PPAR-α/δ normalize mitochondrial function and lipid flux; reduce lipotoxic stress Adipose–liver axis: ↑ adiponectin → antifibrotic, anti-inflammatory, endothelial benefits Broad reduction of systemic inflammation across macrophage and vascular beds Portal pressure biology: preclinical models show improved sinusoidal tone and vascular remodeling. Physiology, not anatomy, drives active progression; reversal is possible 22 F3 F4The cACLD Zone MASLD MASH (without fibrosis) MASH (with fibrosis F1/F2) MASH (F3) MASH + compensated cirrhosis (F4CC) MASH + decompensated cirrhosis Many patients are asymptomatic until later stage, then need critical intervention. MASH is a major driver of cACLD (compensated advanced chronic liver disease), in which patients have advanced fibrosis or cirrhosis but no outward signs of liver failure.
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Property of Inventiva Corporate Presentation Topline data expected in H2 2026, NDA filing expected in 2027 Lanifibranor could be the second oral liver-directed agent for the treatment of MASH 23 Lanifibranor Last patient randomized April 2025 Expected topline results H2 2026 2025 2026 2027 2028 Expected NDA filing with FDA 2027 Planned confirmatory trial start 2027 Potential market rollout 2028
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Property of Inventiva Corporate Presentation Cash runway projected beyond Phase 3 readout 24 Commences upon launch 2% capped at €92M, 15-year term 3%, 14-year term Current Fully Diluted Share 193M ordinary included in a total of 313M fully diluted Post T3 Fully Diluted Share (+77M) 390M shares fully diluted CTTQ Greater China $265 million in additional potential milestones. Low-single-digit royalty rate. Hepalys Japan, South Korea $231 million in additional potential milestones. Mid-double-digit to low-20s tiered royalty rate. Shares dilution Royalty certificates • Q3 2025 – Cash balance of €122.3M(1) • Q4 2025 – Follow-on Raise of €149M(2) • Q4 2026 and Q1 2027 – Repayment deadline of €65M EIB debt • Q3 2027 – Assuming exercise of 3rd Tranche of Structure Financing of €116M Strategic partnerships Cash runway until the middle of Q3 2027 assuming fully exercised T3 upon positive Phase 3 readout(3) (1) Consisting of Cash and cash equivalents of €97.6 million, and €24.7 million in short -term deposits. (2) Gross proceeds (3) The third tranche of up to €116 million would consist of potential proceeds from the exercise of warrants for ordinary share s, at the discretion of investors, following the potential publication of positive results in NATiV3 by no later than June 15, 2027. This estimate is based on the Company's current business plan and excludes any potential milestones payable to or by the Company, any additional expenditures related to other product candidates or resulting from the potential in licensing or acquisition of additional pr oduct candidates or technologies, or any associated development the Company may pursue. The Company may have based this estimate on assumptions that are incorrect, and the Company may end up using its resources sooner than anticipated.
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Property of Inventiva Corporate Presentation Summary 25Corporate Presentation | November 2025 Pioneering the Future of MASH Inventiva has an experienced management team and strong financial position Novel investigational pan-PPAR agonist engages the core drivers of fibrosis progression, with once-daily oral dosing Phase 2b showed 24% effect on the dual endpoints of fibrosis regression and MASH resolution in just 24 weeks Potential expansion into later-stage patient populations with high unmet medical need Targeting multi- billion in potential peak sales by 2035 as MASH market expands to >$15 billion