Windtree Therapeutics : April'24 Corporate Presentation

Forward-Looking Statements

This presentation includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These statements, among other things, include statements about the Company's clinical development programs, business strategy, outlook, objectives, plans, intentions, goals, future financial conditions, future collaboration agreements, the success of the Company's product development activities, or otherwise as to future events. The forward- looking statements provide our current expectations or forecasts of future events and financial performance and may be identified by the use of forward-looking terminology, including such terms as "believes," "estimates," "anticipates," "expects," "plans," "intends," "may," "will," "should," "could," "targets," "projects," "contemplates," "predicts," "potential" or "continues" or, in each case, their negative, or other variations or comparable terminology, though the absence of these words does not necessarily mean that a statement is not forward-looking. We intend that all forward-looking statements be subject to the safe-harbor provisions of the Private Securities Litigation Reform Act of 1995. Because forward-looking statements are inherently subject to risks and uncertainties, some of which cannot be predicted or quantified and some of which are beyond our control, you should not rely on these forward-looking statements as predictions of future events. The events and circumstances reflected in our forward-looking statements may not be achieved or occur and actual results could differ materially from those projected in the forward-looking statements. These risks and uncertainties are further described in the Company's periodic filings with the

Securities and Exchange Commission ("SEC"), including the Company's most recent reports on Form 10-K, and any subsequent quarterly reports on Form 10-Q and current reports on Form 8-K, and any amendments thereto ("Company Filings"). Moreover, we operate in an

evolving environment. New risks and uncertainties may emerge from time to time, and it is not possible for management to predict all risks and uncertainties. Except as required by applicable law, we do not plan to publicly update or revise any forward-looking statements contained herein, whether as a result of any new information, future events, changed circumstances or otherwise.

Under no circumstances shall this presentation be construed as an offer to sell or as a solicitation of an offer to buy any of the Company's securities. In addition, the information presented in this deck is qualified in its entirety by the Company Filings. The reader should refer to the Company Filings for a fuller discussion of the matters presented here.

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Multi-Asset / Indication Pipeline with Several Near-Term Milestones

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Milestone Strategy for Value Creation

Istaroxime

Cardiogenic Shock

Potential to transform the standard of care for critical patients

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Cardiogenic Shock - A Critical Condition Caused by a Failing Heart

A severe presentation of heart failure characterized by low blood pressure and inadequate blood flow to vital organs

(hypoperfusion) accompanied by congestion and high filling

pressures of the heart. It requires very urgent treatment.

• Caused by severe impairment of cardiac function that results in diminished cardiac output, end‐organ hypoperfusion and hypoxemia
• Most often requires pharmacological or mechanical intervention with key clinical objective to increase SBP to >90mmHg and improve tissue perfusion
• Cardiogenic shock patients typically require hospital intensive care and consume significant hospital resources
• High mortality (~20-30%) and substantial morbidity in survivors1
• US + EU markets represent an ~$1.0B market potential2 with high unmet need

Istaroxime - Novel First-in-Class Therapy

Novel intravenous agent designed to improve

systolic contraction anddiastolic relaxation of the heart

Dual Mechanism of

Action

Impact on both systolic

(contraction) and

diastolic (relaxation)

dysfunction

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Istaroxime Cardiogenic Shock Program Came from AHF Phase 2 Trials and the Potential Attractive Regulatory Pathway

In Phase 2a and 2b data in AHF istaroxime demonstrated:

Cardiac Function Improved with Both Doses

• Significant increase in stroke volume (amount of blood expelled with each heartbeat)
• Lowered cardiac filling pressures

Increased in Systolic Blood Pressure

Increased Renal Function (eGFR)

Heart Rate Decreased

Favorable Heart Rhythm Profile Observed

• No increase in clinically significant arrythmias or ventricular tachycardia

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