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Agenda

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Engineering the Alpha Advantage in Targeted Oncology

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Optimizing the Entire System

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Expanding the Addressable Market

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Unlocking New Treatment Options Across Solid Tumors:

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Choosing The Right Isotope

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Optimizing Structural Chemistry:

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Not All ²¹²Pb Programs Are Created Equal

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Advancing a Theranostic Approach:

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A Decade of Deliberate, End-to-End Engineering

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Direct-to-Hospital Delivery through Integrated Isotope Production

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Daily Production at Regional Sites Ensures Supply of Ready-to-Administer Product

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Reaching the Largest Addressable Market with Regional Manufacturing

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Advancing a Diverse Wholly Owned 212Pb-Based Oncology Portfolio

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Rapidly Advancing Best-in-Class Next Generation Radiopharmaceuticals

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Perspective Therapeutics

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Theranostics in management of patients with neuroendocrine and other SSTR positive tumors

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Objectives

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Treatment landscape

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Adverse side effects

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Other factors that drive treatment

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Survival expectations

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NCCN guidelines

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Treatment decision making

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Alpha particle PRRT

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The evolution of the treatment continuum

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Summary

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SSTR2+ Neuroendocrine Tumors is a Large, Growing Market with Significant Unmet Need

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Ongoing Phase 1/2a to Establish Broad Therapeutic Window For VMT-⍺-NET in NETs

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Patient with Confirmed PR After [212Pb]VMT-α-NET Treatment

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VMT-⍺-NET: Baseline Patient Characteristics in AACR 2026 Data Analysis

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Patient Exposure and Follow-up with [212Pb]VMT-α-NET in AACR 2026 Data Analysis

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Blood Creatinine During Follow-up for All Patients Treated (n=64)

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VMT-⍺-NET: Durable Disease Control Across All Doses

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Spider plot of tumor change over time by patient

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VMT-α-NET Responses Deepen Over Time

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VMT-α-NET’s Compelling Profile Supports Potential Registration Study at Current Dose Level

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Why Frontloading?

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Ongoing Phase 1/2a to Establish Broad Therapeutic Window For VMT-⍺-NET in NETs

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Meningioma

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VMT-⍺-NET: Potential First-in-Class 212Pb-Radioligand Therapy Targeting SSTR2

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[212Pb]Pb-VMT--NET after previous radio-ligand treatment

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Dresden VMT--NET compassionate use program

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Dresden VMT--NET compassionate use program

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Dresden VMT--NET compassionate use program

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Dresden VMT--NET compassionate use program

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First results - compassionate use program

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First results - compassionate use program

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First results - compassionate use program

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First results - compassionate use program

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First results - compassionate use program

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First results - compassionate use program

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Case Study

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Case Study

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Case Study

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Case Study

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Imaging and dosimetry

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Conclusion

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How biodistribution informs therapeutic potential

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Disclosures

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PSMA vs DOTATATE

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PSMA vs DOTATATE

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PSMA vs DOTATATE

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Patient’s journey from PSA>MRI>PSMA PET

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Receptor Targeted PET enabled a fundamentally different clinical trial design: Treat if you see it

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68Ga/177Lu-PSMA Super vs Non-Responder

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68Ga/177Lu-DOTATATE Super vs Non-Responder

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Radioligand Therapy Today “Science advances one funeral at a time” Max Planck

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Radioligand Therapy Today “Science advances one funeral at a time” Max Planck

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FAP is an Emerging Target

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Not every FAP is bio-identical

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Theranostics Short Half-lives for Long, Full Lives

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FIH 203/212Pb Pb-VMT-α-NET Perspective Therapeutics

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FIH 203/212Pb Pb-VMT-α-NET Perspective Therapeutics

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Early, Medium and Late Biodistribution Should Inform Therapeutic Window

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Perspective’s CCK2R81 in Medullary Thyroid Cancer Compared to FDG and Fluorodopa

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Development of PSV594 for CCK2R+ Tumor types

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CCK2R: Implicated in Multiple Tumor Types With Major Unmet Needs

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Expanding the Addressable Market

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Optimizing the Entire System

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A Decade of Deliberate, End-to-End Engineering

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Built Over a Decade:

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Q&A

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Advancing a Theranostic Approach:

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212Pb is Our Isotope of Choice

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Choosing The Right Isotope

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Kinetics Matter: 212Pb Hits Hard and Fast For Strong Activity with Less Systemic Exposure

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𝜶-Particles Delivers More Potent, Targeted Tumor Killing vs. β-Particles

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212Pb Further Enhanced by Proprietary Chelator for Targeted Delivery of Payload

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212Pb Multi-Mechanistic Activity Drives Tumor Destruction and Anti-Tumor Immunity

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Rationale for Synergy with Immune Checkpoint Inhibitors

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212Pb Uniquely Suited for Combination with Immune Check Point Inhibitors

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212Pb Half-life Is More Convenient for Customers

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Advancing a Theranostic Approach:

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Supply Chain and Manufacturing Infrastructure

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End-to-End Manufacturing with Clinical Supply Secured and Commercial Scale Underway

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Direct-to-Hospital Delivery through Integrated Isotope Production

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Reliable, On-Demand 212Pb from 228Th and 224Ra

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Flexible Scalable 224Ra Supply Enables Regional Manufacturing

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Ideal for Regional Manufacturing

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On-Demand Fulfillment at Regional Sites for Finished Product Delivery

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Daily Production at Regional Sites Ensures Supply of Ready-to-administer Product

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Reaching the Largest Addressable Market with Regional Manufacturing

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Mature, Well-Established Distribution Networks

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Network Approach Chosen by Novartis