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© 2026 Vera Therapeutics, Inc. Corporate Presentation Corporate Presentation January 9, 2026
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2 © 2026 Vera Therapeutics, Inc. Corporate Presentation Forward-looking statements Disclaimer This material has been made available to you with the consent of Vera Therapeutics, Inc. ("we", "us", "our", or the "Company"). Statements in this presentation that are not statements of historical fact are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements include, without limitation, atacicept's potential to be a first-in-class mechanism and transform treatment of autoimmune disease; the Company's expectations regarding completing the pivotal Phase 3 ORIGIN 3 trial, the Phase 2 extension study in participants who completed the Phase 2b or Phase 3 ORIGIN trials, and the Phase 2 PIONEER trial; atacicept's potential to have a best-in-class profile; the potential market opportunity for atacicept in pipeline autoimmune diseases; the Company's expectations regarding initiating clinical trials of atacicept for additional indications; the characteristics with which atacicept launches; the design and management of the Company's clinical trials, as well as expectations regarding results from clinical trials and regulatory matters, including the timing and likelihood of success in obtaining drug approvals, the Company’s overall market opportunity, atacicept's projected launch, and other statements that are not historical fact. Words such as “anticipate,” “plan,” “expect,” “will,” “may,” “potential,” “projected,” “promise” and similar expressions are intended to identify forward-looking statements, though not all forward-looking statements necessarily contain these identifying words. These forward-looking statements are based on the beliefs of the Company’s management as well as assumptions made by and information currently available to the Company. Such statements reflect the current views of the Company with respect to future events and are subject to known and unknown risks, including business, regulatory, economic and competitive risks, uncertainties, contingencies and assumptions about the Company, including, without limitation, risks related to the regulatory approval process, the potential that results of earlier clinical trials may not be obtained in later clinical trials, risks and uncertainties associated with the Company's business in general, the impact of macroeconomic and geopolitical events, and the other risks described in the Company's filings with the U.S. Securities and Exchange Commission, including those described under the caption "Risk Factors" in our most recent Annual Report on Form 10-K and Quarterly Report on Form 10-Q. In light of these risks and uncertainties, the events or circumstances referred to in the forward-looking statements may not occur. The actual results may vary from the anticipated results and the variations may be material. These forward-looking statements should not be taken as forecasts or promises nor should they be taken as implying any indication, assurance or guarantee that the assumptions on which such forward-looking statements have been made are correct or exhaustive or, in the caseof the assumptions, fully stated in this presentation. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this presentation, and are based on management's assumptions and estimates as of such date. The Company undertakes no obligation to update such statements to reflect events that occur or circumstances that exist after the date on which they were made, except as required by law. This presentation discusses product candidates that are under clinical study and which have not yet been approved for marketing by the U.S. Food and Drug Administration. No representation is made as to the safety or effectiveness of these product candidates for the use for which such product candidates are being studied. The trademarks included herein are the property of the owners thereof and are used for reference purposes only. Such use should not be construed as an endorsement of such products.
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3 © 2026 Vera Therapeutics, Inc. Corporate Presentation • San Francisco biotechnology company founded in 2016; led by world-class development and commercialization team • Atacicept potential first-in-class mechanism (dual BAFF/APRIL inhibitor) to transform treatment of autoimmune disease • IPO on Nasdaq May 2021; >$1.8B raised to date • Positive IgAN Phase 3 results; BLA filed with PDUFA target action date of July 7, 2026 APRIL, A proliferation-inducing ligand; BAFF, B-cell activating factor; BLA, Biologics License Application; IgAN, immunoglobulin A nephropathy; PDUFA, Prescription Drug User Fee Act.
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4 © 2026 Vera Therapeutics, Inc. Corporate Presentation Vera pipeline Research & Discovery Preclinical Clinical Marketed Atacicept IgAN pMN, FSGS, MCD Potential future autoimmune indications MAU868 BK virus VT-109 Potential future autoimmune indications Vera holds worldwide, exclusive rights to develop and commercialize atacicept, VT-109, and MAU868 Phase 3 Phase 2 Phase 2
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5 © 2026 Vera Therapeutics, Inc. Corporate Presentation Management team: Successful clinical and commercial track record Marshall Fordyce, MD Founder and CEO Lauren Frenz, MBA Chief Business Officer Sean Grant, MBA Chief Financial Officer Robert Brenner, MD Chief Medical Officer Julie Person Chief People Officer William Turner Chief Regulatory Officer David Johnson, MBA Chief Operating Officer
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6 © 2026 Vera Therapeutics, Inc. Corporate Presentation ~$779M Cash, cash equivalents, and marketable securities1 ~71.3M Shares outstanding (as of 12.31.25) Strong Financial Position Additional $425M non-dilutive capital available through Oxford Facility 1. Pro forma unaudited estimate includes ~$497M of cash, cash equivalents and marketable securities as of September 30, 2025 and additional $282M in net proceeds from December 2025 follow-on equity offering.
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7 © 2026 Vera Therapeutics, Inc. Corporate Presentation B cell modulation via dual BAFF/APRIL inhibition represents a potential paradigm shift in how patients with autoimmunity may be treated Autoimmune disease Atacicept • Rationally designed therapeutic of modern biotechnology • Native TACI-Fc fusion protein: soluble receptor binds BAFF and APRIL with picomolar binding affinity • Offers the promise of precision modulation of B cells and autoantibodies • Autoantigens and autoantibodies mediate autoimmune disease • B cells are source of autoantibodies → target cell of interest for therapeutic intervention • B cells fueled by two cytokines, BAFF and APRIL Autoantibodies bind to autoantigensBAFF APRIL BAFF Kd 106 pM2 APRIL Kd 33 pM2 TACI receptor Fc domain of IgG1 t1/2=35 days1 Fc, fragment crystallizable; IgG1, immunoglobulin G1; Kd, dissociation constant; TACI, transmembrane activator and calcium-modulator and cyclophilin ligand. 1. Willen D, et al. Eur J Drug Metab Pharmacokinet 2020;45(1):27-40; 2. Vera data on file. B cell
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8 © 2026 Vera Therapeutics, Inc. Corporate Presentation IgAN: Most common primary glomerular disease worldwide CKD, chronic kidney disease. 1. McGrogan A, et al. Nephrol Dial Transplant 2011; 2. Kwon CS, et al. J Health Econ Outcomes Res 2021; 3. Pitcher D, et al. Clin J Am Soc Nephrol 2023; 4. Jarrick S, et al. J Am Soc Nephrol 2019; 5. Caster DJ, et al. Kidney Int Rep. 2023; 6. KDIGO IgAN and IgAV Work Group. Kidney Int. 2025. Estimated worldwide incidence of 2.5/100k people per year in adults1 Predominantly diagnosed in young adults, with most patients presenting with demonstrable CKD at time of diagnosis2-5 At least 50% of patients progress to kidney failure or death within 10 to 20 years of diagnosis2,3 2025 KDIGO Guideline recommends treatment goal of reducing rate of loss of kidney function to the physiological state (<1 mL/min/year for most adults)6 A disease-modifying therapy capable of stabilizing kidney function is an unmet need 50% <1 mL/min/y
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9 © 2026 Vera Therapeutics, Inc. Corporate Presentation Inhibition of immune complex formation in IgAN may offer the potential to avoid end stage kidney disease during a patient’s lifetime ESKD, end stage kidney disease. 1. US CDC Cancer Statistics based on cancers diagnosed from 2015 to 2021 and follow-up of patients through Dec 31, 2021; 2. Thurlow JS, et al. Am J Nephrol 2021 (data for ESKD resulting from all kidney disease). ESKD 5-year mortality comparable to cancer 71 59 35 8 0 20 40 60 80 Lung Cancer ESKD Colorectal Cancer Breast Cancer 5-Year % Mortality in US1,2
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10 © 2026 Vera Therapeutics, Inc. Corporate Presentation IgAN is a disease of B cell origin with kidney pathology eGFR, estimated glomerular filtration rate; Gd-IgA1, galactose-deficient immunoglobulin A1. Immune Complex Deposition Leading to Glomerulonephritis and Kidney Damage Formation of Circulating Immune ComplexesB Cell Activation APRIL TACI BAFF B cell Autoantigen (Gd-IgA1) Autoantibody (anti-Gd-IgA1) BAFF and APRIL activate B cells via the TACI receptor Activated B cells produce autoantigen (Gd-IgA1) and autoantibodies (anti-Gd-IgA1)… …which deposit in the mesangium, resulting in glomerular inflammation (nephritis)… 2 41 …and progressive kidney injury with hematuria, proteinuria, and eGFR decline 5 …forming immune complexes… 3 Glomerulus
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11 © 2026 Vera Therapeutics, Inc. Corporate Presentation Atacicept: Rationally designed fusion protein conceived in the era of modern biotechnology Immune Complex Deposition Leading to Glomerulonephritis and Kidney Damage Formation of Circulating Immune ComplexesB Cell Activation Glomerulus APRIL TACI BAFF B cell Autoantigen (Gd-IgA1) Autoantibody (anti-Gd-IgA1) Atacicept • Rationally designed native human TACI-Fc fusion protein • Soluble receptor binds key cytokines BAFF and APRIL with picomolar binding affinity • Offers the potential for precision modulation of B cells and autoantibodies TACI receptor Fc domain of IgG1
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12 © 2026 Vera Therapeutics, Inc. Corporate Presentation A therapy that comprehensively addresses 2025 KDIGO treatment goals would... Stabilize eGFR Resolve inflammation (hematuria) Reduce proteinuria Reduce immune complexes (Gd-IgA1)
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13 © 2026 Vera Therapeutics, Inc. Corporate Presentation ORIGIN Phase 2b long-term results consistent with disease modification Stabilization of eGFR Resolution of hematuria Reduction in proteinuria Reduction in Gd-IgA1 Atacicept group includes all participants receiving any atacicept dose at any time point, with baseline (week 0) defined as last available measurement prior to first dose of atacicept. CI, confidence interval. Barratt J, et al. J Am Soc Nephrol 2025. -10 -5 0 5 10 0 12 24 36 48 60 72 84 96 -100 -80 -60 -40 -20 0 0 12 24 36 48 60 72 84 96 -75 -60 -45 -30 -15 0 Mean ± SE Change from BL in eGFR, mL/min/1.73m2 Mean ± SE % Change from BL in Gd-IgA1 -0.6 -66% -60 -40 -20 0 0 12 24 36 48 60 72 84 96 Mean ± SE % Change from BL in UPCR -52% Change from BL in % Participants (95% CI) -75% Slope Week from First Atacicept Dose Week from First Atacicept Dose Mean eGFR change from baseline Annualized eGFR slope of -0.6 mL/min/1.73m2 per year Week from First Atacicept Dose Week from First Atacicept Dose mL/min/year 967260483624120 63 40n= 6162 60 60 61 43 41111 74n= 79108 78 107 29 77 75109112n= 110 108 108 108 78 7675109113n= 110 107 109 108 78 74
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14 © 2026 Vera Therapeutics, Inc. Corporate Presentation Phase 3 trial design Atacicept 150 mg SC QW Placebo Atacicept 150 mg SC QW Double-Blind Treatment Open-Label Extension 1° Endpoint UPCR: n=203 Key Endpoints • Primary efficacy: UPCR-24h % change at week 36 • Key secondary: eGFR change at week 104 • Gd-IgA1 change • Hematuria resolution • Safety Key Inclusion Criteria • Patients ≥18 years old with biopsy-proven IgAN and high risk of disease progression • Stable and optimized RASi for ≥12 weeks, use of SGLT2i allowed • UPCR-24h ≥1.0 g/g or UP ≥1.0 g per 24h • eGFR ≥30 mL/min/1.73m2 • Blood pressure ≤150/90 mmHg Week 0 15636 104 2° Endpoint eGFR: n=428 Fully enrolled • Similar trial design, patient profile, and worldwide sites as ORIGIN 2b • At home self-administered SC dose studied in ORIGIN 2b Multinational, randomized, placebo-controlled trial of atacicept, self-administered at home via weekly 1-mL SC injection RASi, renin angiotensin system inhibitor.
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15 © 2026 Vera Therapeutics, Inc. Corporate Presentation ORIGIN 3 interim analysis set participant disposition 1. Rash. 2. Proteinuria, chronic kidney disease, IgAN, parophthalmia, pneumonia, pyelonephritis, osteonecrosis, carotid artery aneurysm. 428 randomized and treated 7 discontinued treatment 5 patient withdrawal 1 adverse event1 1 protocol deviation 13 discontinued treatment 7 adverse event2 3 patient withdrawal 2 physician decision 1 protocol deviation 99 (93.4%) 84 (86.6%)Treatment ongoing Interim analysis set 214 atacicept 214 placeboFull analysis set and safety analysis set 750 screened 319 failed screening 431 randomized 106 atacicept 97 placebo Interim analysis set
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16 © 2026 Vera Therapeutics, Inc. Corporate Presentation ORIGIN 3 and ORIGIN 2b demographics and baseline characteristics ORIGIN 3 Interim Analysis Set ORIGIN 2b Atacicept n=106 Placebo n=97 Total n=203 Total N=116 Age, median (range), years 40 (18, 72) 39 (19, 70) 40 (18, 72) 37 (18, 67) Male sex, n (%) 57 (54) 58 (60) 115 (57) 69 (59) Race, n (%) White 46 (43) 42 (43) 88 (43) 62 (53) Asian 59 (56) 52 (54) 111 (55) 51 (44) Black or African American 0 1 (1) 1 (0.5) 0 Native Hawaiian or other Pacific Islander 0 1 (1) 1 (0.5) 1 (1) Other/not reported 1 (1) 1 (1) 2 (1) 2 (2) Hispanic/Latino ethnicity, n (%) 14 (13) 6 (6) 20 (10) 4 (3) eGFR, mean ± SD, mL/min/1.73 m2 65 ± 28 65 ± 29 65 ± 28 63 ± 27 UPCR by 24h urine, mean ± SD, g/g 1.7 ± 0.9 1.8 ± 1.2 1.7 ± 1.0 1.6 ± 0.9 Time since biopsy, mean ± SD, years 2.5 ± 2.6 2.5 ± 2.4 2.5 ± 2.5 2.8 ± 2.8 SGLT2i use, n (%) 59 (56) 49 (51) 108 (53) 16 (14)
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17 © 2026 Vera Therapeutics, Inc. Corporate Presentation Primary endpoint: UPCR reduction Interim Analysis Set (IAS) included the first 203 randomized participants who received ≥1 dose of trial drug. Change from baseline in natural-log transformed UPCR at Week 36 was analyzed using a mixed-effects model with repeated measurement (MMRM), including fixed effects for treatment group, visit as a categorical variable, treatment-by-visit interaction, baseline natural-log transformed UPCR, baseline eGFR category, SGLT2i use at baseline, and region, with participant as a random effect. log-transformed change from baseline in UPCR was estimated with use of least-squares means. To facilitate interpretation of the result, the least-squares means estimate was back-exponentiated to obtain the equivalent geometric mean percentage change. MMRM analysis included double-blind period data up to Week 36, regardless of treatment discontinuation or initiation of rescue treatment for IgAN or prohibited therapy; missing values after study withdrawal were imputed with jump to reference (placebo) approach for 100 times. The Rubin rule was used to combine results estimated from each of 100 imputation datasets by MMRM analysis. Mean (95% CI) % Change from Baseline n= Placebo Atacicept -60 -50 -40 -30 -20 -10 0 10 0 12 24 36 Week 97 106 96 104 97 104 95 103 Δ 42% 95% CI 29, 52 p<0.0001 -60 -50 -40 -30 -20 -10 0 10 -46% 95% CI -53, -38 -7% 95% CI -19, 8 Placebo n=95 Atacicept n=103
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18 © 2026 Vera Therapeutics, Inc. Corporate Presentation Subgroup analyses were conducted using the same imputed data sets and the same MMRM model as for the primary analysis for each subgroup category, separately. If the subgroup was one of the covariates in the model, the covariate was removed from the model statement when the model was performed for the particular subgroup. UPCR efficacy consistent across prespecified subgroups n (%) Mean UPCR % Change at Week 36 Mean UPCR % Reduction vs Placebo (95% CI)Atacicept Placebo Atacicept Placebo Overall 106 97 -46% -7% 42% (29, 52) Age, years <40 48 (45) 49 (51) -44% +0.5% 45% (23, 60) ≥40 58 (55) 48 (49) -46% -14% 38% (21, 51) Sex Male 57 (54) 58 (60) -41% -9% 35% (14, 51) Female 49 (46) 39 (40) -51% -2% 50% (34, 62) Region Asia 50 (47) 48 (49) -50% -14% 42% (18, 58) Other 56 (53) 49 (51) -42% +1% 43% (29, 55) Race White 46 (43) 42 (43) -42% +0.1% 42% (26, 55) Non-white 60 (57) 55 (57) -48% -11% 42% (22, 57) BL UPCR, g/g <1.5 53 (50) 47 (48) -44% +3% 46% (28, 59) ≥1.5 53 (50) 50 (52) -48% -13% 41% (21, 55) BL eGFR, mL/min/1.73m2 <60 50 (47) 52 (54) -35% -1% 34% (13, 51) ≥60 56 (53) 45 (46) -53% -14% 45% (27, 59) SGLT2i use at BL Yes 59 (56) 49 (51) -48% -7% 44% (26, 58) No 47 (44) 48 (49) -43% -6% 39% (19, 54) Mean UPCR % Reduction vs Placebo at Week 36 (95% CI) -60 -40 -20 0 20 40 60 Favors Atacicept Favors Placebo
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19 © 2026 Vera Therapeutics, Inc. Corporate Presentation Gd-IgA1 reduction and hematuria resolution -75 -60 -45 -30 -15 0 0 12 24 36 Mean (95% CI) % Change from Baseline1 97 104 95 101 n= Placebo Atacicept Week 94 100 93 96 93 103 -3% 4 Gd-IgA1 Reduction -68% Δ 67% p<0.0001 -100 -80 -60 -40 -20 0 0 12 24 36 Change from Baseline in % Patients with Hematuria (95% CI)2 Week 58 64 58 63 58 64 58 64 -81% -21% Odds ratio 19.1 p<0.0001 Hematuria Resolution 58 64 4 58 61 2 Analysis included all data up to Week 36 analyzed according to treatment policy strategy. Missing data were handled implicitly by statistical model. Nominal p-values are presented. 1. Change from baseline in natural log-transformed Gd-IgA1 was analyzed using MMRM similar to that for the primary endpoint. 2. Percentages represent change from baseline in number of participants with hematuria (urine dipstick blood ≥1+) at each visit divided by number of participants with baseline hematuria shown on the lower axis; resolution defined as urine dipstick blood of trace or negative. Odds ratio is calculated from a logistic regression model adjusted for covariates. eGFR results not disclosed per FDA recommendation to sponsors of IgAN registrational trials
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20 © 2026 Vera Therapeutics, Inc. Corporate Presentation Adverse events generally balanced between groups • Most adverse events were mild or moderate in severity • Rate of serious adverse events was lower in the atacicept group compared with placebo • No deaths occurred Participants, n (%) Atacicept n=214 Placebo n=214 Adverse events 127 (59) 107 (50) Serious adverse events1 1 (0.5) 11 (5) Adverse events leading to drug discontinuation2 2 (1) 8 (4) Adverse events of infections and infestations 68 (32) 60 (28) Serious or severe infections and infestations 0 3 (1) Opportunistic infections 0 0 Study drug related adverse events3 63 (29) 22 (10) Adverse events associated with injection site reactions4 51 (24) 11 (5) Hypersensitivity reactions 8 (4) 14 (7) Adverse events leading to death 0 0 Analysis of safety population (all participants randomized and treated) as of interim data cut on 15-May-2025. 1. Atacicept: cholecystitis, determined by site investigator to be unrelated to treatment; Placebo (n=1 each): gastroenteritis, lower respiratory tract infection, pneumonia, pyelonephritis, IgA nephropathy, renal impairment, acute myocardial infarction, transplant rejection, hyponatremia, osteonecrosis, ovarian epithelial cancer, carotid artery aneurysm, hypertension, acute cholecystitis. 1 placebo serious adverse event was deemed related to study drug. 2. Discontinuations in the 2 atacicept participants were due to eczema and erythema. 3. Majority were mild to moderate injection site reactions that did not lead to discontinuation. 4. Injection site reactions among atacicept recipients were largely characterized by injection site erythema, bruising, and pruritis. No observed hypogammaglobulinemia (IgG <3 g/dL).
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21 © 2026 Vera Therapeutics, Inc. Corporate Presentation Scan to view manuscript A Phase 3 T rial of Atacicept in P atients with IgA Nephropathy published in The New England Journal of Medicine
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22 © 2026 Vera Therapeutics, Inc. Corporate Presentation Atacicept has a winning profile: BAFF/APRIL inhibitor without overt immunosuppression Atacicept Rationally designed native human TACI-Fc fusion protein Most clinically advanced BAFF/APRIL inhibitor Offers the potential for precision modulation of B cells and autoantibodies P otential Best-in-Class Profile Longest-term Efficacy Data in B Cell Modulator Class to Date1 Demonstrated robust and durable disease control with proteinuria reduction and hematuria resolution through 36 weeks (ORIGIN 3), sustained through 96 weeks, with stable eGFR (ORIGIN 2b) Rapid and Sustained Response Gd-lgA1 and hematuria reduction observed by 4 weeks and maintained at 36 weeks (ORIGIN 3), consistent with 96-week findings from ORIGIN 2b Differentiated Safety Profile in B Cell Modulator Class No serious, severe or opportunistic infections and no clinically relevant hypogammaglobulinemia (consistent with 96-week data) Longest T erm Overall Dataset1 to Support Chronic Use in IgAN Only BAFF/APRIL inhibitor with placebo-controlled efficacy and 96-week safety data 1. Published data through 96-weeks from Phase 2b trial and 36 weeks from Phase 3 trial. Desirable Patient-centric Features Autoinjector with small 1-mL volume Weekly administration with >90% retention in clinical trials At-home administration studied in Phase 3 randomized controlled trial
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23 © 2026 Vera Therapeutics, Inc. Corporate Presentation At-home, self-administered 1mL or less injection volume Autoinjector option 27G or smaller needle Once-weekly frequency (semaglutide) ✓ ✓ ✗ ✓ ✓ (tirzepatide) ✓ ✓ ✓ ✓ ✓ (semaglutide) ✓ ✓ ✓ ✓ ✓ (dulaglutide) ✓ ✓ ✓ ✓ ✓ (adalimumab) ✓ ✓ ✓ ✓ ✗ (dupilumab) ✓ ✗ ✓ ✓ ✗ (ustekinumab) ✓ ✓ ✗ ✓ ✗ (secukinumab) ✓ ✓ ✓ ✓ ✗ (rizankinumab) ✓ ✓ ✓ ✓ ✗ (etanercept) ✓ ✓ ✓ ✓ ✓ Atacicept ✓ ✓ ✓ ✓ ✓ Atacicept has characteristics similar to those of blockbuster drugs Patient retention in ORIGIN Ph 2b and Ph 3 trials have been consistently above 90% Source: Package Inserts for top 10 injectable drugs by US revenue, 2024.
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24 © 2026 Vera Therapeutics, Inc. Corporate Presentation Nephrologists viewed atacicept profile as desirable for IgAN 39% 33% 8% 6% 7% 4% 17% 26% 18% 12% 10% 9% 6% 12% 9% 17% 18% 12% 12% 12% 9% 68% 68% 44% 36% 28% 22% 21% 13% atacicept sibeprenlimab zigakibart povetacicept ravulizumab IONIS-FB-LRx felzartamab mezagitamab Most Desired IgAN Pipeline Agent % of familiar respondents (rated familiarity of product >3 on a 10-point scale) Spherix Realtime Dynamix US IgAN Q3 2025, n=103, page 12. Considering the pipeline agents listed, please rank order the TOP THREE that you would most like to see approved for use in IgAN. Most desired 2nd most desired 3rd most desired Ranked in top 3
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25 © 2026 Vera Therapeutics, Inc. Corporate Presentation US IgAN Prevalence: ~0.04% of US Population (360.5M)1 Phase 3 population Phase 2 study ongoing Estimated IgAN epidemiology in 2032 Patient counts rounded to nearest 1,000. 1. Clearview Healthcare Partners Analysis 2021; 2. Pitcher D, et al. Clin J Am Soc Nephrol 2023. Low risk assumed to be 0–0.44 g/g UPCR, moderate risk assumed to be 0.44–0.88 g/g, high risk assumed to be >0.88 g/g; percentage of patients per proteinuria category in study population 1 applied to estimated US IgAN prevalence. BAFF/APRIL inhibition + ~30K Moderate Risk (~20% of patients)2 ~160K ~90K High Risk (~56% of patients)2 + ~40K Low Risk (~24% of patients)2
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26 © 2026 Vera Therapeutics, Inc. Corporate Presentation New practice guidelines encourage proactive treatment of IgAN to minimize nephron loss Updated T reatment Guidelines1 Biopsy and treatment initiation threshold of ≥0.5g/day proteinuria • Prevention of IgA-IC formation • Anti-inflammation/anti-fibrosis • <0.3—<0.5 g/d proteinuria • <1 mL/min/year eGFR loss • Management of generic responses to IgAN-induced nephron loss Atacicept P otentially Hits the Mark IC, immune complex. 1. Kidney Disease: Improving Global Outcomes (KDIGO) IgAN and IgAV Work Group. KDIGO 2025 Clinical Practice Guideline for the Management of IgAN and IgAV. Kidney Int. 2025;108(4S):S1–S71. 2. Barratt J, et al. J Am Soc Nephrol 2025;36(4):679-687. 3. Lafayette R, et al. N Engl J Med 2025. ✓ Disease-modifying, dual-inhibition MoA ✓ 68% Gd-IgA1 reduction3 ✓ 81% hematuria resolution3 ✓ 46% UPCR reduction3 ✓ eGFR trend of a healthy person (as shown in Phase 2b)2 ✓ Safety profile comparable to placebo3
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27 © 2026 Vera Therapeutics, Inc. Corporate Presentation Premium pricing in the IgAN space 1. As of January 9, 2026. Price for Tarpeyo reflects the 9-month recommended course of treatment. Full 12 month course of treatment would be $213,010. Annual Prices for Approved IgAN Therapies1 $158,716 $160,184 $162,500 $390,000 $583,495
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28 © 2026 Vera Therapeutics, Inc. Corporate Presentation • We believe the nephrology market is ripe for disruption due to low levels of approved product saturation • Large market with unmet need • Growing market with IgAN1 • Favorable payer mix2 IgAN market and atacicept have many hallmarks of an attractive commercial opportunity • Potentially differentiating product attributes • eGFR data highly valued with enthusiastic support from therapeutic experts and insights captured at advisory boards3 • Experienced commercial team in place and ready to execute • Exciting lifecycle opportunities AtaciceptIgAN Market 1. ClearView Healthcare Partners Analysis; 2. Bluepath Solutions research conducted in Q4 2024; 3. Spherix Realtime Dynamix US IgAN independent survey conducted in Q4 2024 and advisory boards conducted by Vera Therapeutics.
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29 © 2026 Vera Therapeutics, Inc. Corporate Presentation ITP gMG SLE Sjogren’s SSc IgAN pMN FSGS AAV LN MCD IgAVN Potential $10B+ market opportunity in pipeline autoimmune diseases1 LCM for BAFF/APRIL dual inhibition US Prevalence1 1. Vera Therapeutics corporate estimates for peak year market opportunity and prevalence based on ClearView Healthcare Partners Analysis 2025. AAV, anti-neutrophil cytoplasmic antibody-associated vasculitis; FSGS, focal segmental glomerulosclerosis; gMG, generalized myasthenia gravis; IgAVN, IgA vasculitis nephritis; ITP, immune thrombocytopenia; LCM, lifecycle management; LN, lupus nephritis; MCD, minimal change disease; pMN, primary membranous nephropathy; SLE, systemic lupus erythematosus; SSc, systemic sclerosis. Nephrology Non-Nephrology ~500K ~700K
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30 © 2026 Vera Therapeutics, Inc. Corporate Presentation Atacicept projected catalysts 1. Subject to US FDA approval. 2. Subject to US FDA review of full clinical dataset and approval. FSGS, focal segmental glomerulosclerosis; MCD, minimal change disease; pMN, primary membranous nephropathy. Vera holds worldwide, exclusive rights to develop and commercialize atacicept Catalyst 2026 2027 2028 IgAN Projected US launch1 eGFR results Projected full approval2 IgAN Clinical results IgAN, pMN, FSGS, MCD Clinical results
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© 2026 Vera Therapeutics, Inc. Corporate Presentation