Trevena : Corporate Presentation

INNOVATING FOR PATIENTS

Nasdaq: TRVN I January 2023

Forward-Looking Statements

To the extent that statements contained in this presentation are not descriptions of historical facts regarding Trevena, Inc. (the "Company" or "we"), they are forward-looking statements reflecting management's current beliefs and expectations. Forward-looking statements are subject to known and unknown risks, uncertainties, and other factors that may cause our or our industry's actual results, levels of activity, performance, or achievements to be materially different from those anticipated by such statements. You can identify forward-looking statements by terminology such as "anticipate," "believe," "estimate," "expect," "intend," "may," "might," "plan," "objective," "predict," "project," "suggest," "target," "potential," "will," "would," "could," "should,"

"continue," "ongoing," or the negative of these terms or similar expressions. Forward-looking statements contained in this presentation include, but are not limited to, (i) statements regarding

the timing of anticipated clinical trials for our product candidates; (ii) the timing of receipt of clinical data for our product candidates; (iii) our expectations regarding the potential safety, efficacy, or clinical utility of our product candidates; (iv) the size of patient populations targeted by our product candidates and market adoption of our potential drugs by physicians and patients; (v) the timing or likelihood of regulatory filings and approvals; and (vi) our cash needs.

Actual results may differ materially from those indicated by such forward-looking statements as a result of various important factors, including: the commercialization of any approved drug product, the status, timing, costs, results and interpretation of our clinical trials or any future trials of any of our investigational drug candidates; the uncertainties inherent in conducting clinical trials; expectations for regulatory interactions, submissions and approvals, including our assessment of the discussions with the FDA or other regulatory agencies about any and all of our programs; uncertainties related to the commercialization of OLINVYK; available funding; uncertainties related to our intellectual property; uncertainties related to the ongoing COVID-19 pandemic, other matters that could affect the availability or commercial potential of our therapeutic candidates; and other factors discussed in the Risk Factors set forth in our Annual Report on Form 10-K and Quarterly Reports on Form 10-Q filed with the Securities and Exchange Commission (SEC) and in other filings we make with the SEC from time to time. In addition, the forward-looking statements included in this presentation represent our views only as of the date hereof. We anticipate that subsequent events and developments may cause our views to change. However, while we may elect to update these forward-looking statements at some point in the future, we specifically disclaim any obligation to do so, except as may be required by law.

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Trevena's Experienced Leadership Team

SENIOR MANAGEMENT

Carrie L. Bourdow	President & Chief Executive Officer
Mark A. Demitrack, M.D.	SVP, Chief Medical Officer
Patricia Drake	SVP, Chief Commercial Officer
Barry Shin	SVP, Chief Financial Officer
Robert T. Yoder	SVP, Chief Business Officer & Head
of Commercial Operations

BOARD OF DIRECTORS

Leon O. Moulder, Jr. Chairman	Marvin H. Johnson, Jr.
Carrie L. Bourdow	Jake R. Nunn
Scott Braunstein, M.D.	Anne M. Phillips, M.D.
Michael R. Dougherty	Barbara Yanni

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Trevena: Innovative CNS Company

IV OLINVYK:	NCE approved for the management of acute pain in adults
Differentiated profile	Launch in Q1 2021; additional supportive studies vs. IV morphine with near-term data

Large market,	45M+ US hospital patients; 9M procedures is initial core focus
targeted launch	$1.5B+ market opportunity for core focus

TRV045:	Novel candidate for CNS disorders (with potential broader applicability)
Selective S1PR modulator	Phase 1 study completed; proof-of-concept study initiated

Novel	New mechanisms for acute / neuropathic pain, epilepsy, acute migraine, opioid use disorder
CNS pipeline	NCEs targeting significant unmet needs

Solid	$40.4M cash / equivalents / marketable securities @ Q3
financial position	$8M Registered Direct financing in November 2022

OLINVYK is indicated in adults for the management of acute pain severe enough to require an intravenous opioid analgesic and for whom alternative treatments are inadequate. Please see Important Safety Information including BOXED WARNING at the end of presentation. Full Prescribing Information at www.OLINVYK.com.

NCE = New Chemical Entity; MOA = Mechanism of Action; NIH = National Institutes of Health;	4

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Multiple Expected Catalysts

	PRE-CLIN	PHASE 1		PHASE 2	PHASE 3		NDA	POST-APPR
	IV acute pain*						APPROVED
					Leiden UMC collab.	Respiratory physiology
OLINVYK®
New chemical entity		Center for Human Drug Research, Leiden	Cognitive function
(mu-opioid receptor)

EXPECTED CATALYSTS

• Commercial launch ongoing
• Topline data released March 2022
• Topline data released July 2022

			Cleveland Clinic / Wake Forest Baptist Health collab. Clinical outcomes	• Enrollment complete 2H 22
			Nhwa NDA Submission in China	• NDA Submitted
TRV045	DNP			• Phase 1 complete
Selective S1P			• PoC study initiated
receptor modulator	Epilepsy	NIH collab.	• Epilepsy data announced
TRV250	Acute migraine			• IND-enabling activities (oral)
G-protein selective agonist
(delta receptor)
TRV734	Opioid use disorder	NIH / NIDA collab.	• POC study ongoing
G-protein selective agonist

(mu-opioid receptor)

OLINVYK is indicated in adults for the management of acute pain severe enough to require an intravenous opioid analgesic and for whom alternative treatments are inadequate. * Please see Important Safety Information including BOXED WARNING at the end of presentation. Full Prescribing Information at www.OLINVYK.com.

TRV250, TRV734 and TRV045 are investigational products and are not approved by the FDA or any other regulatory agency.; NDA = New Drug Application, PoC = Proof-of-Concept, DNP = Diabetic

Neuropathic Pain	5