Kymera Therapeutics : Corporate Presentation, January 2023

INVENTING NEW MEDICINES

W I T H T A R G E T E D P R O T E I N D E G R A D A T I O N

January 2023

Forward-looking Statements

This presentation contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 (PSLRA) and other federal securities laws. These statements include information about our current and future prospects and our operations and financial results, which are based on currently available information. All statements other than statements of historical facts contained in this presentation, including express or implied statements regarding our strategy, future financial condition, future operations, projected costs, prospects, plans, objectives of management and expected market growth, are forward-looking statements. In some cases, you can identify forward-looking statements by terminology such as ''aim,'' ''anticipate,'' ''assume,'' ''believe,'' ''contemplate,'' ''continue,'' ''could,'' ''design,'' ''due,'' ''estimate,'' ''expect,'' ''goal,'' ''intend,'' ''may,'' ''objective,'' ''plan,'' ''predict,'' ''positioned,'' ''potential,'' ''seek,'' ''should,'' ''target,'' ''will,'' ''would'' and other similar expressions that are predictions of or indicate future events and future trends, or the negative of these terms or other comparable terminology. These forward-looking statements include statements about our strategy, business plans and objectives for our programs; plans and timelines for the clinical development of our product candidates, including the therapeutic potential, clinical benefits and safety thereof; expectations regarding timing, success and data announcements of current ongoing clinical trials; the ability to initiate new clinical programs; the initiation, timing, progress and results of our current and future clinical trials and current and future preclinical studies and clinical trials of our product candidates and of our research and development programs; our plans to develop and commercialize our current product candidates and any future product candidates and the implementation of our business model and strategic plans for our business, current product candidates and any future product candidates. We may not actually achieve the plans, intentions or expectations disclosed in our forward-looking statements, and you should not place undue reliance on our forward-looking statements. You should not rely upon forward-looking statements as predictions of future events.

Actual results or events could differ materially from the plans, intentions and expectations disclosed in the forward-looking statements we make. Any forward-looking statements are based on management's current expectations and beliefs and are subject to a number of risks, uncertainties and important factors that may cause actual events or results to differ materially from those expressed or implied by any forward-looking statements including, without limitation, risks associated with: the impact of COVID-19 on countries or regions in which we have operations or do business, as well as on the timing and anticipated results of our current and future preclinical studies and clinical trials, supply chain, strategy and future operations; the delay of any current and future preclinical studies or clinical trials or the development of our drug candidates; the risk that the results of current preclinical studies and clinical trials may not be predictive of future results in connection with current or future clinical trials, including those for KT-474,KT-333 and KT-413; Our ability to successfully demonstrate the safety and efficacy of our drug candidates; the timing and outcome of our planned interactions with regulatory authorities; obtaining, maintaining and protecting our intellectual property; and our relationships with its existing and future collaboration partners. We undertake no obligation to update or revise any forward-looking statements, whether as a result of new information, the occurrence of certain events or otherwise, except as required by law. As a result of these risks and others, including those set forth in our most recent and future filings with the Securities and Exchange Commission, actual results could vary significantly from those anticipated in this presentation, and our financial condition and results of operations could be materially adversely affected. This presentation contains trademarks, trade names and service marks of other companies, which are the property of their respective owners.

Certain information contained in this presentation and statements made orally during this presentation relate to or is based on studies, publications, surveys and other data obtained from third-party sources and the Company's own internal estimates and research. While the Company believes these third-party studies, publications, surveys and other data to be reliable as of the date of the presentation, it has not independently verified, and makes no representation as to the adequacy, fairness, accuracy or completeness of, any information obtained from third- party sources. In addition, no independent sources has evaluated the reasonableness or accuracy of the Company's internal estimates or research and no reliance should be made on any information or statements made in this presentation relating to or based on such internal estimates and research.

©2023 KYMERA THERAPEUTICS, INC .

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Recognized leader in Targeted Protein Degradation (TPD)

Building a fully-integrated,

global biotech company

Initial I/I and Oncology focus, but a disease-agnosticplatform

Accelerating forward integration through key

strategic partnerships

©2023 KYMERA THERAPEUTICS, INC .

Overview

Key Accomplishments

• Advanced four programs to clinical stage
• Developed a deep pipeline positioned to deliver ≥1 IND/year
• First to advance degrader (KT-474/SAR444656) in healthy volunteers and patients with HS and AD
• Demonstrated degrader vs. small molecule inhibitors (SMI) biological and clinical differentiation, and potential best in class profile in I/I
• Demonstrated fidelity of translation of PK, PD and safety across three clinical programs in I/I and oncology patients
• Unique target selection strategy based on using TPD to unlock high value, undrugged targets
• Well-capitalizedwith ~$560m of cash*, enabling expansion of clinical impact into areas with large clinical and commercial opportunities

*Unaudited, estimated cash at 12/31/22

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Kymera's Differentiated Approach to TPD

TARGET

SELECTION

Undrugged (UD) or inadequately drugged (ID) targets

UD	ID
Transcription	Degrader
Factors	Advantage
(e.g. STAT3)	Over SMI
	(e.g. IRAK4,
	MDM2)

Strong genetic validation within clinically validated pathway

PLATFORM

Significantly differentiated investments

Tissue-	New
selective	Molecular
E3 Ligases	Glue Approach

• Enabling a • Novel strategy

whole new	to address
generation	undrugged/
of clinical	un-ligandable
programs	targets

CLINICAL

TRANSLATION

Fidelity of translation of PK, PD and safety now in 3 programs in immunology and oncology

Percent Change from	Baseline IRAK4
PercentChange	Baselinefrom	0
-80
		-20

-40-60

-100

TPD

"FIRSTS"

Accomplished several "firsts" in TPD:

• FIRSTrandomized, placebo- controlled trial in healthy volunteers with KT-474 (IRAK4)
• FIRSTheterobifunctional degrader with clinical activity, outside of oncology, in patients with HS and AD with KT-474 (IRAK4)
• FIRSTdemonstration of biological and clinical differentiation of degrader vs SMI with KT-474 (IRAK4)
• FIRSTheterobifunctional degrader against an undrugged transcription factor in clinic with KT-333 (STAT3)

©2023 KYMERA THERAPEUTICS, INC .

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What Our Recent Accomplishments Mean for Kymera and TPD

Validated Platform and Discovery Engine

• Demonstrated predictable translation of PK, PD and Safety in 3 oncology and immunology programs

Successfully Applied TPD to Unmet Needs Outside of Oncology

• Reported clinical impact in complex inflammatory diseases such as HS and AD

Demonstrated TPD Can Lead to Differentiated Clinical Activity Compared to Small Molecule Inhibitors

• Initial KT-474 data in HS and AD validates Kymera's unique target selection strategy

Kymera is Building Franchises in Both Immunology and Oncology

• Focus is on areas of high unmet needs and large commercial opportunity, in targets with clear degrader rationale

©2023 KYMERA THERAPEUTICS, INC .

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