Oculis SA

Phase 3 DIAMOND-1 and DIAMOND-2 trials enrollment of OCS-01 in diabetic macular edema (DME) accelerated with great momentumDIAMOND program committees expanded with globally renowned retina experts If approved, OCS-01 has the potential to transform the treatment paradigm as the first topical eye drop to treat DME ZUG, Switzerland, Oct. 21, 2024 (GLOBE NEWSWIRE) -- Oculis Holding AG (Nasdaq: OCS) (“Oculis”), a global biopharmaceutical company purposefully driven to save sight and improve eye care, today announces the acceleration of patient enrollment for both Phase 3 DIAMOND trials of OCS-01 eye drops in DME and expansion of the DIAMOND program committees with globally renowned retina experts. Substantial enrollment progress was achieved since the end of Q2 2024 through early October, with ~70% of patients enrolled in the Phase 3 DIAMOND-1 trial, and ~40% of patients enrolled in the Phase 3 DIAMOND-2 trial. The DIAMOND (DIAbetic Macular edema patients ON a Drop) program consists of two (2) Phase 3, double-masked, randomized, multi-center trials which will evaluate the efficacy and safety of OCS-01 eye drops in patients with DME. Arshad M. Khanani, M.D., M.A, FASRS, DIAMOND Program Steering Committee Chairperson, Oculis Board of Directors member, Scientific Advisory Board Chair of Retina and Director of Clinical Research at Sierra Eye Associates, commented: “I am honored to chair the DIAMOND steering committee, comprised of leading experts from around the globe, as we support the outstanding team at Oculis in the late-stage development of OCS-01. The results from Stage 1 of the DIAMOND Phase 3 program are promising, showing that patients treated with OCS-01 experienced significant improvements in visual acuity and a clinically meaningful reduction in macular edema. The DIAMOND program offers hope to the millions worldwide affected by DME, with OCS-01 potentially emerging as the first non-invasive topical eye drop therapy.” Riad Sherif, M.D., Chief Executive Officer of Oculis, said: ”We are very pleased with the strong momentum in patient enrollment in DIAMOND-1 and DIAMOND-2 Phase 3 trials which continues to exceed our expectations. We are also honored to have such a distinguished and broad group of global experts on the expanded DIAMOND program committees and look forward to working with the committees and benefiting from their deep expertise as we advance the DIAMOND program.” The DIAMOND program committees are comprised of world-renowned experts who provide strategic oversight as Oculis develops OCS-01 which has the potential to be the first topical eye drop to transform DME treatment paradigm: Arshad Khanani, M.D.David Almeida, M.D.Mark Barakat, M.D.Kirk Bateman, M.Sc.David Boyer, M.D.Margaret Chang, M.D.Saradha Chexal, M.D.Carl Danzig, M.D.Dilsher Dhoot, M.D.Diana Do, M.D.Frank Holz, M.D.Baruch D. Kuppermann, M.D.Timothy Lai, M.D.Anat Loewenstein, M.D.Sabri Markabi, M.D.Patricio Schlottmann, M.D.Ashish Sharma, M.D.Veeral Sheth, M.D.Michael Singer, M.D.Thomas Wolfensberger, M.D. For more information about the DIAMOND program committee members, please visit oculis.com. To learn more about the Phase 3 DIAMOND trials, please visit diamondtrial.com. About OCS-01 eye drops and the OPTIREACH® technology Leveraging Oculis’ proprietary technology, OCS-01 is an OPTIREACH® formulation of high concentration dexamethasone eye drop. It was developed to treat the retina via an eye drop, a route of administration for DME that contrasts with currently available therapies, all requiring invasive delivery to reach the retina such as intravitreal injections or ocular implants. The OPTIREACH® solubilizing formulation technology addresses the main limitations of conventional eye drops by improving the solubility of lipophilic drugs, increasing the residence time on the eye surface and thereby, enabling the drug passage from the eye surface to the posterior segment of the eye. Oculis’ OCS-01 is developed with the aim to transform the current treatment paradigm in DME as a non-invasive topical treatment option. OCS-01 is an investigational drug that has not received regulatory approval for commercial use in any country. About the Phase 3 DIAMOND Program of OCS-01 in Diabetic Macular Edema The DIAMOND-1 (DIAbetic Macular edema patients ON a Drop) and DIAMOND-2 trials are Phase 3, double-masked, randomized, multi-center trials which will evaluate the efficacy and safety of OCS-01 eye drops in patients with DME. Oculis aims to enroll 350 patients in each of these pivotal trials that will be randomized 1:1 to receive OCS-01 or vehicle six times daily for the 6-week induction phase and then three times daily through week 52 for the maintenance phase. The primary endpoint is change in best corrected visual acuity early treatment diabetic retinopathy study (BCVA ETDRS) letter score at Week 52. Secondary endpoints include percentage of patients with ≥15-letter gain in BCVA and change in central subfield thickness (CST), both at Week 52. Both trials were initiated upon the positive findings from stage 1 of the DIAMOND program, which was announced in the second quarter of 2023, and both trials are currently enrolling. About Diabetic Macular Edema (DME) DME is the leading cause of visual loss and legal blindness in patients with diabetes. Currently, it is estimated to affect around 37 million people worldwide and, with the rise of diabetes, the prevalence is expected to increase to 53 million by 20401,2. DME is an irreversible and progressive complication of diabetic retinopathy and is related to consistently having high blood sugar levels that damage nerves and blood vessels in the macula, the area of the retina responsible for sharp vision. DME occurs when blood vessels in the retina swell, and then leak, leading to a fluid build-up (edema) into the retina. There remains a significant need for safer, more effective, longer lasting, and less burdensome treatments for DME patients. About Oculis Oculis is a global biopharmaceutical company (Nasdaq: OCS; XICE: OCS) purposefully driven to save sight and improve eye care. Oculis’ highly differentiated pipeline comprises multiple innovative product candidates in development. It includes OCS-01, a topical eye drop candidate for diabetic macular edema (DME) and for the treatment of inflammation and pain following cataract surgery; licaminlimab (OCS-02), a topical biologic anti-TNFα eye drop candidate for dry eye disease (DED) and for non-infectious anterior uveitis; and OCS-05, a neuroprotective candidate for acute optic neuritis (AON). Headquartered in Switzerland and with operations in the U.S. and Iceland, Oculis’ goal is to improve the health and quality of life of patients worldwide. The company is led by an experienced management team with a successful track record and is supported by leading international healthcare investors. For more information, please visit: oculis.com (1) Yau et al. Global Prevalence and Major Risk Factors of Diabetic Retinopathy, Diabetes Care 2012 Mar; 35(3): 556-564 (2) International Diabetes Federation – diabetesatlas.org Estimated diabetes prevalence worldwide in 2021: 537m, reaching 783m in 2045 Oculis ContactsMs. Sylvia Cheung, CFOsylvia.cheung@oculis.com Investor & Media Relations LifeSci AdvisorsCorey Davis, Ph.D.cdavis@lifesciadvisors.com1-212-915-2577 Cautionary Statement Regarding Forward Looking StatementsThis press release contains forward-looking statements and information. For example, statements regarding the potential benefits of OCS-01, including patient impact and market opportunity; the potential of OCS-01 to become the first non-invasive eye drop therapy for DME; the potential of OCS-01 to treat both front and back of the eye indications; expected future milestones and catalysts; the initiation, timing, progress and results of Oculis’ clinical trials, including the progress of Oculis’ DIAMOND Phase 3 program with OCS-01 in DME; Oculis’ research and development programs, regulatory and business strategy, future development plans, and management; and Oculis’ ability to advance product candidates into, and successfully complete, clinical trials, are forward-looking. All forward-looking statements are based on estimates and assumptions that, while considered reasonable by Oculis and its management, are inherently uncertain and are inherently subject to risks, variability and contingencies, many of which are beyond Oculis’ control. These forward-looking statements are provided for illustrative purposes only and are not intended to serve as, and must not be relied on by an investor as, a guarantee, assurance, prediction or definitive statement of a fact or probability. Actual events and circumstances are difficult or impossible to predict and will differ from assumptions. All forward-looking statements are subject to risks, uncertainties and other factors that may cause actual results to differ materially from those that we expected and/or those expressed or implied by such forward-looking statements. Forward-looking statements are subject to numerous conditions, many of which are beyond the control of Oculis, including those set forth in the Risk Factors section of Oculis’ annual report on Form 20-F and any other documents filed with the U.S. Securities and Exchange Commission (the “SEC”). Copies of these documents are available on the SEC’s website, www.sec.gov. Oculis undertakes no obligation to update these statements for revisions or changes after the date of this release, except as required by law.

Achieved two landmark milestones with OCS-01, Oculis’ lead product candidate as first investigational eye drop for both front and back of the eye indications: positive topline results in Phase 3 DIAMOND Stage 1 trial for diabetic macular edema (DME) announced in May, and in Phase 3 OPTIMIZE trial for inflammation and pain following cataract surgery announced in AugustAdvancing clinical programs with OCS-01, OCS-02 and OCS-05, including first patient enrolled in the investigator-initiated LEOPARD trial evaluating OCS-01 for treatment of cystoid macular edema (CME)Successfully listed on NASDAQ and raised gross proceeds of approximately $146 million during the first half of 2023 ZUG, Switzerland, and BOSTON, Aug. 29, 2023 (GLOBE NEWSWIRE) -- Oculis Holding AG (Nasdaq: OCS) (“Oculis” or the “Company”), a global biopharmaceutical company purposefully driven to save sight and improve eye care, today announced second quarter and first half 2023 financial results for the period ended June 30, 2023, and an overview of the Company’s progress. Riad Sherif MD, Chief Executive Officer of Oculis: “This has been a very exciting period for Oculis. Following our successful listing on NASDAQ, we had two OCS-01 positive Phase 3 readouts with robust statistically significant results in two different indications, further validating the potential of OCS-01 to treat both back and front of the eye conditions. We are optimistic about our portfolio and remain on track for multiple readouts in 2024. We look forward to building upon the positive momentum we’ve achieved thus far in 2023 as we continue to execute on our strategic goals.” First Half 2023 and Recent Corporate Developments Clinical DevelopmentsOCS-01: a novel high concentration preservative-free topical OPTIREACH® formulation of dexamethasone with the potential to treat both front and back of the eye indications: Announced positive topline results in May 2023 from Stage 1 of the Phase 3 DIAMOND trial of OCS-01 in DME. The trial met its primary endpoint with robust statistical significance and allowed confirmation of the loading and maintenance dosing regimen to optimize Stage 2 of the trial. Further, OCS-01 met all functional, clinical and pharmacodynamic endpoints, including improvement in visual acuity, increase in the percentage of patients with a 3-line or greater gain in visual acuity, and reduction in macular edema as measured by optical coherence tomography (OCT) imaging compared to vehicle. OCS-01 was well-tolerated with no unexpected adverse events observed. Stage 2 of the Phase 3 program is expected to commence by the end of 2023.Reported positive topline results in August 2023 from Phase 3 OPTIMIZE trial of OCS-01 in treating inflammation and pain following ocular surgery. The trial met both hierarchical primary endpoints, showing a statistically significant higher percentage of patients with: 1) no inflammation at Day 15; and 2) no pain at Day 4 following cataract surgery compared to vehicle. The second Phase 3 trial is expected to commence before the end of 2023.Enrolled the first patient in August 2023 in an investigator-initiated trial LEOPARD with OCS-01 for the treatment of CME, a leading cause of vision loss worldwide. The trial is administratively sponsored by the Global Ophthalmic Research Center (Los Altos, California) and led by Quan Dong Nguyen, MD, MSc, FAAO, FARVO, FASRS, Professor of Ophthalmology at the Byers Eye Institute, Stanford University School of Medicine. The study will evaluate the efficacy and safety profile of OCS-01 eye drops for treatment of two different forms of CME: uveitic macular edema (UME) and post-surgical macular edema (PSME). Topline data are expected in 2024. Key Operational Updates Successfully listed on NASDAQ in March 2023 after closing the business combination between European Biotech Acquisition Corp. and Oculis SA under the ticker symbol “OCS”, and raised gross proceeds of approximately $146 million during the first half of 2023.The Company expanded its U.S. presence and opened an office in Boston, Massachusetts in April 2023 as part of its continued expansion. Awards and Company Recognition Oculis’ co-founders were selected as finalists in the 2023 European Inventor Award in recognition of their research developing the OPTIREACH® solubilization formulation technology that is the basis of Oculis’ lead product candidate OCS-01.Won the 2023 Knowledge Award from the Icelandic Association of Business and Economics in recognition of the OPTIREACH® technology developed in Oculis’ laboratory in Iceland by its co-founders, professors Einar Stefánsson and Thorsteinn Loftsson. Upcoming Milestones In the second half of 2023 the Company is focused on advancing its innovative pipeline and planned clinical development programs including: Commence Phase 3 DIAMOND Stage 2 trial of OCS-01 in DME. The trial will include a 6-week loading phase, followed by 46-week maintenance phase of OCS-01 vs. vehicle arm following solid validation in stage 1. The primary endpoint is change in best corrected visual acuity (BCVA) early treatment diabetic retinopathy study (ETDRS) letter score at Week 52 compared to vehicle. Secondary endpoints include percentage of patients with ≥ 3-line gain in BCVA and change in central subfield thickness (CST) as measured by spectral domain optical coherence tomography (SD-OCT) as compared to vehicle at Week 52.Initiate second OPTIMIZE Phase 3 trial to support an NDA submission (anticipated in late 2024) of OCS-01 for treating inflammation and pain following ocular surgery. Patients in the trial will be treated with once-daily OCS-01 vs. vehicle arm for 2 weeks. Hierarchical primary endpoints are the absence of anterior chamber cells at Day 15 and absence of pain at Day 4.Advance OCS-02, the first investigational biological eye drop, into a Phase 2b trial initially for dry eye disease (DED) evaluating the safety and efficacy vs. vehicle, and furthermore exploring whether patients with a certain genotype (i.e. single-nucleotide polymorphism, SNP, related to the TNF receptor) respond better to OCS-02 than patients who do not carry the SNP. The first patient's first visit is expected in late 2023. A Phase 2b trial for OCS-02 in the treatment of uveitis is expected to follow thereafter.Progress OCS-05, a disease modifying candidate for acute optic neuritis (AON) into a proof-of-concept (PoC) ACUITY trial in France. The trial will evaluate the safety and tolerability of a once daily intravenous infusion of OCS-05 vs. placebo for 5 days in addition to current standard of care and includes a follow up period of 6 months. Concurrently, the Company is working on planned IND enabling activities in the U.S. Financial Highlights Cash position: As of June 30, 2023, the Company had total cash, cash equivalents and short-term investments of CHF 114.0 million or $127.0 million, compared to CHF 19.8 million or $21.4 million as of December 31, 2022. The increase in cash position reflects proceeds from financing transactions during the first half of 2023. Based on our current development plans, we expect our cash runway to fund operations to the end of 2025.Research and development expenses were CHF 6.2 million or $6.9 million for the three-month period ending June 30, 2023, compared to CHF 6.7 million or $6.9 million in the same period in 2022. The decrease was primarily due to timing of clinical development spending related to the Company’s two Phase 3 trials for DME and ocular surgery. Both trials concluded in 2023 and achieved positive topline results as announced in May and August of 2023.General and administrative expenses were CHF 4.8 million or $5.3 million for the three-month period ending June 30, 2023, compared to CHF 2.8 million or $2.9 million in the same period in 2022. The increase was primarily due to costs related to becoming a public company.Q2 Net loss was CHF 12.9 million or $14.3 million, or CHF 0.38 or $0.42 per share, for the three-month period ending June 30, 2023, compared to CHF 12.3 million or $12.8 million, or CHF 3.64 or $3.77 per share, in the same period in 2022. The increase in net loss was primarily driven by an increase in operating expenses.Merger and listing expense was CHF 34.9 million or $38.2 million in the first quarter of 2023, reflected in the year-to-date total operating expenses. This one-time and non-cash expense is the result of accounting for the business combination with EBAC as the equivalent of Oculis issuing shares for the net assets of EBAC at the acquisition closing date, accompanied by a recapitalization.1H Net loss was CHF 58.9 million or $64.6 million for the six months ending June 30, 2023, or CHF 2.53 or $2.77 loss per share (basic and diluted) compared to CHF 19.6 or $20.8 million, or CHF 5.84 or $6.18 loss per share (basic and diluted) for the first six months of 2022.1H Non-IFRS net loss was CHF 24.0 million or $26.3 million, or CHF 1.03 or $1.13 per share, for the six months ended June 30, 2023, compared to CHF 19.6 million or $20.8 million, or CHF 5.84 or $6.18 per share, for the same period in 2022. The increase in non-IFRS net loss was primarily driven by increases in clinical development expenses, listing and related expenses, and increase in fair-value (non-cash) adjustment of outstanding warrants. Non-IFRS Financial InformationThis press release contains financial measures that do not comply with International Financial Reporting Standards (IFRS) including non-IFRS loss for the period, and non-IFRS loss attributable to equity holders per common share. These non-IFRS financial measures exclude the impact of items that the Company’s management believes affect comparability or underlying business trends. These measures supplement the Company’s financial results prepared in accordance with IFRS. The Company’s management uses these measures to better analyze its financial results and better estimate its financial outlook. In management’s opinion, these non-IFRS measures are useful to investors and other users of the Company's financial statements by providing greater transparency into the ongoing operating performance of the Company and its future outlook. Such measures should not be deemed to be an alternative to IFRS requirements. The non-IFRS measures for the reported periods reflect adjustments made to exclude merger and listing expense, which was a one-time and non-cash expense CHF 34.9 million or $38.2 million in the first quarter of 2023 and in the year-to-date total operating expenses. The non-IFRS measures presented here are also unlikely to be comparable with non-IFRS disclosures released by other companies. See the “Reconciliation of Non-IFRS Measures (Unaudited)” table below for a reconciliation of these non-IFRS measures to the most directly comparable IFRS measures.Condensed Consolidated Balance Sheets (Unaudited)(Amounts in CHF thousands) As of June 30, As of December 31, 2023 2022 ASSETS Non-current assets Property and equipment, net321 365 Intangible assets12,206 12,206 Right-of-use assets835 758 Other non-current assets113 74 Total non-current assets13,475 13,403 Current assets Other current assets6,063 2,959 Accrued income1,296 912 Short-term financial assets72,078 - Cash and cash equivalents41,932 19,786 Total current assets121,369 23,657 TOTAL ASSETS134,844 37,060 EQUITY AND LIABILITIES Shareholders' equity Share capital364 39 Share premium286,696 10,742 Reserve for share-based payment4,136 2,771 Actuarial loss on post-employment benefit obligations(539) (264)Treasury shares- (1)Cumulative translation adjustments(3,591) (300)Accumulated losses(169,870) (110,978)Total equity117,196 (97,991) Non-current liabilities Long-term lease liabilities539 491 Long-term financial debt- 122,449 Defined benefit pension liabilities305 91 Total non-current liabilities844 123,031 Current liabilities Trade payables3,920 3,867 Accrued expenses and other payables8,407 8,011 Short-term lease liabilities177 142 Warrant liabilities4,300 - Total current liabilities16,804 12,020 Total liabilities17,648 135,051 TOTAL EQUITY AND LIABILITIES134,844 37,060 Condensed Consolidated Statements of Operations (Unaudited)(Amounts in CHF thousands, except per share data) For the three months ended June 30, For the six months ended June 30, 2023 2022 2023 2022 Grant income250 240 479 496 Operating income250 240 479 496 Research and development expenses(6,198) (6,702) (12,346) (10,743)General and administrative expenses(4,797) (2,776) (8,840) (4,143)Merger and listing expense- - (34,863) - Operating expenses(10,995) (9,478) (56,049) (14,886) Operating loss(10,745) (9,238) (55,570) (14,390) Finance income216 7 253 8 Finance expense(17) (1,665) (1,297) (3,285)Fair value adjustment on warrant liabilities(2,625) - (2,203) - Foreign currency exchange gain (loss), net408 (1,406) 161 (1,832)Finance result, net(2,018) (3,064) (3,086) (5,109) Loss before tax for the period(12,763) (12,302) (58,656) (19,499) Income tax expense(114) (42) (236) (64) Loss for the period(12,877) (12,344) (58,892) (19,563) Loss per share: Basic and diluted loss attributable to equity holders(0.38) (3.64) (2.53) (5.84) Reconciliation of Non-IFRS Measures (Unaudited)(Amounts in CHF thousands, except per share data) For the three months ended June 30, For the six months ended June 30, 2023 2022 2023 2022 IFRS loss for the period(12,877) (12,344) (58,892) (19,563)Non-IFRS adjustments: Merger and listing expense (i)- - 34,863 - Non-IFRS loss for the period(12,877) (12,344) (24,029) (19,563) IFRS basic and diluted loss attributable to equity holders(0.38) (3.64) (2.53) (5.84)Non-IFRS basic and diluted loss attributable to equity holders(0.38) (3.64) (1.03) (5.84) IFRS weighted-average number of shares used to compute loss per share basic and diluted33,565,542 3,392,346 23,274,136 3,350,458 (i) Merger and listing expense is the difference between the fair value of the shares transferred and the fair value of the EBAC net assets per the Business Combination Agreement. This merger and listing expense is non-recurring in nature and represented a share-based payment made in exchange for a listing service and does not lead to any cash outflows. About Oculis Oculis (Nasdaq: OCS) is a global biopharmaceutical company purposefully driven to save sight and improve eye care. Oculis’s highly differentiated clinical-stage pipeline comprises multiple innovative product candidates in development for eye diseases of high unmet need. It includes OCS-01 eye drops, a topical candidate in Phase 3 development for diabetic macular edema (DME) and inflammation and pain following ocular surgery; OCS-02 eye drops, a topical biologic candidate in Phase 2 development for dry eye disease (DED) and uveitis; and OCS-05, a disease modifying candidate for acute optic neuritis (AON) and other neuro-ophthalmic disorders, such as glaucoma, diabetic retinopathy, geographic atrophy, and neurotrophic keratitis. The first in-patient, proof-of-concept trial with OCS-05 is currently ongoing in France. Headquartered in Switzerland and with operations in the US, Oculis’ goal is to deliver life-changing eye treatments to patients worldwide. The company is led by an experienced management team with a successful track record in the pharmaceutical industry, supported by leading international healthcare investors. For more information, please visit: www.oculis.com Oculis Contacts Mrs. Sylvia Cheung, CFOsylvia.cheung@oculis.com Investor & Media Relations LifeSci AdvisorsCorey Davis, Ph.D.cdavis@lifesciadvisors.com1-212-915-2577 Cautionary Statement Regarding Forward Looking Statements This press release contains forward-looking statements and information. For example, statements regarding the potential benefits of OCS-01, including patient impact and market opportunity; the potential of OCS-01 for treating front- and back-of-the-eye diseases; the potential for OCS-01 to become a new standard of care with the first once-daily, topical, preservative-free corticosteroid for treating inflammation and pain following ocular surgery; the potential of OCS-01 for the treatment of DME, inflammation and pain following ocular surgery and CME; expected cash runway; expected future milestones and catalysts; the initiation, timing, progress and results of Oculis’ clinical and preclinical studies; Oculis’ research and development programs, regulatory and business strategy, future development plans, and management; Oculis’ ability to advance product candidates into, and successfully complete, clinical trials; and the timing or likelihood of regulatory filings and approvals, are forward-looking. All forward-looking statements are based on estimates and assumptions that, while considered reasonable by Oculis and its management, are inherently uncertain and are inherently subject to risks, variability and contingencies, many of which are beyond Oculis’ control. These forward-looking statements are provided for illustrative purposes only and are not intended to serve as, and must not be relied on by an investor as, a guarantee, assurance, prediction or definitive statement of a fact or probability. Actual events and circumstances are difficult or impossible to predict and will differ from assumptions. All forward-looking statements are subject to risks, uncertainties and other factors that may cause actual results to differ materially from those that we expected and/or those expressed or implied by such forward-looking statements. Forward-looking statements are subject to numerous conditions, many of which are beyond the control of Oculis, including those set forth in the Risk Factors section of Oculis’ annual report on Form 20-F and any other documents filed with the U.S. Securities and Exchange Commission (the “SEC”). Copies of these documents are available on the SEC’s website, www.sec.gov. Oculis undertakes no obligation to update these statements for revisions or changes after the date of this release, except as required by law.

Oculis Announces US Public Listing on NASDAQ Closing of business combination with European Biotech Acquisition Corp. creates Nasdaq-listed ophthalmology company, under the ticker “OCS”, with advanced clinical-stage pipeline of multiple product candidates in key areas of medical needs such as retina, dry eye, and neuro-ophtha diseases Upsized PIPE and private investment financing of approximately $91 million, anchored by LSP 7, with the participation of leading institutional investors, including funds managed by Earlybird, Novartis Venture Fund, Tekla Capital Management LLC, Pivotal Life Sciences and VI Partners, among others Upcoming important near-term expected milestones include results from OCS-01 Stage 1 from the DIAMOND study (Phase 3 potential 1st topical eye drop to treat Diabetic Macular Edema or DME) followed by multiple other expected clinical milestones LAUSANNE and ZUG, Switzerland, March 3, 2023 – Oculis Holding AG (“Oculis”) a global biopharmaceutical company purposefully driven to save sight and improve eye care, today announces its listing on Nasdaq after successfully closing the business combination between European Biotech Acquisition Corp. (“EBAC”) and Oculis SA. The business combination was unanimously approved by the board of directors and shareholders of Oculis SA and by the EBAC shareholders at an extraordinary general meeting on February 28, 2023. From today, Oculis’ shares will trade on the Nasdaq Stock Market under the ticker symbol “OCS”. Upon closing, Oculis had a pro-forma enterprise value of approximately $220 million and a cash balance exceeding $117 million, prior to payment of final transaction costs. Oculis is supported by leading new and existing institutional investors in the upsized PIPE financing including LSP 7, funds managed by Tekla Capital Management LLC, Earlybird, Novartis Venture Fund, Pivotal Life Sciences and VI Partners, among others. Riad Sherif MD, CEO of Oculis, commented: “Listing on the Nasdaq Stock Market is a major corporate milestone for Oculis and its investors. It isa confirmation ofthe potentialof Oculis’ pipelineto bring significant value for patients, physiciansand investors. Oculis' robust financial position enables the advancement of multiple clinical stage candidates and the delivery of severalimportant near-term catalysts for value creation,includingpotentiallyOCS-01,the first topical eye-drop for DME, OCS-02,the first biologic eye-drop for Dry Eye Disease (DED) and OCS-05,the first neuroprotective agent for neuro-retina diseases, such as Acute Optic Neuritis (AON) andglaucoma.” Eduardo Bravo, CEO of EBAC, said: “EBAC and its investors are exceptionally pleased with the closing of this business combination with Oculis. Wevalue the advanced-stage, diversity and novelty of Oculis’assets andwe are confident in the expertise and experience of Oculis’ leadership team, Board of Directors, ScientificAdvisory Board and network of world-class industry collaborators to bring tremendous value to the advancement of treatment outcomes in ophthalmology.We are excited about the potential of Oculis’differentiated pipeline to meet medical needs for patients.” Pravin Dugel MD, Presidentof Iveric Bio, and newly appointed Non-Executive Director of Oculis,said: “I was delighted to support Oculis as a Scientific Advisory Board Member and I am thrilled tocontinue my support as a board member duringthis pivotal moment in the Company’s growth story.Oculis has a unique opportunity with its diversified late-stage pipeline to address areas of significantunmet medical need in major segments of ophthalmology includingretina, dry eye, and neuro-ophthalmology.There is no doubt in my mind that ithas the potential to change the treatment paradigm for patients worldwide.” Oculis’ Board of Directors now comprises seven members, including six directors who are “independent” as per Nasdaq listing standards. Anthony Rosenberg will continue to serve as Chairman of the Board of Directors, which now includes Christina Ackermann, Lionel Carnot, Pravin Dugel M.D., Martijn Kleijwegt, Geraldine O’Keeffe and Riad Sherif M.D. Cautionary Statement Regarding Forward Looking Statements This press release contains forward looking statements and information. For example, statements regarding expected future milestones and catalysts; the initiation, timing, progress and results of Oculis’ clinical and preclinical studies; Oculis’ research and development programs, regulatory and business strategy, future development plans, and management; Oculis’ ability to advance product candidates into, and successfully complete, clinical trials; and the timing or likelihood of regulatory filings and approvals, are forward looking. All forward looking statements are based on estimates and assumptions that, while considered reasonable by Oculis and its management, are inherently uncertain and are inherently subject to risks, variability and contingencies, many of which are beyond Oculis’ control. These forward-looking statements are provided for illustrative purposes only and are not intended to serve as, and must not be relied on by an investor as, a guarantee, assurance, prediction or definitive statement of a fact or probability. Actual events and circumstances are difficult or impossible to predict and will differ from assumptions. All forward-looking statements are subject to risks, uncertainties and other factors that may cause actual results to differ materially from those that we expected and/or those expressed or implied by such forward-looking statements. Forward-looking statements are subject to numerous conditions, many of which are beyond the control of Oculis, including those set forth in the Risk Factors section of Oculis’ proxy statement and the prospectus for Oculis’ offering, and any other documents filed with the U.S. Securities and Exchange Commission (the “SEC”). Copies of these documents are available on the SEC’s website, Oculis undertakes no obligation to update these statements for revisions or changes after the date of this release, except as required by law. Summary of Transaction On October 17, 2022, Oculis SA, a privately held biopharmaceutical company, entered into a definitive business combination agreement with EBAC, a special purpose acquisition company that was created with the purpose of merging with a company that has the potential to develop innovative therapies for patients in need. In the transaction, Oculis received gross proceeds of approximately $104 million, prior to deducting transaction expenses. The upsized PIPE and private investment financing was anchored by LSP 7, with the participation of leading institutional investors, including funds managed by Tekla Capital Management LLC, Earlybird, Novartis Venture Fund, Pivotal bioVenture Partners, and VI Partners among others. The description of the business combination contained herein is only a high-level summary and is qualified in its entirety by reference to the underlying documents filed with the SEC. A more detailed description of the terms of the transaction has been provided in a proxy statement/prospectus filed with the SEC by Oculis on February 3, 2023. Oculis Advisors BofA Securities acted as financial advisor and SVB Securities acted as capital markets advisor to Oculis. Cooley served as US legal counsel, VISCHER AG served as Swiss legal counsel and PricewaterhouseCoopers SA served as auditors to Oculis, SA. EBAC Advisors Credit Suisse and Van Lanschot Kempen acted as financial advisor and capital markets advisor. Davis Polk & Wardwell LLP served as U.S. legal counsel, Stibbe N.V. served as Dutch legal counsel, and Maples Group served as Cayman legal counsel to EBAC. Credit Suisse, BofA Securities, SVB Securities, Van Lanschot Kempen, and Arctica Finance acted as private placements agents for EBAC in connection with the PIPE Transaction. Shearman & Sterling LLP served as legal counsel to Credit Suisse, BofA Securities, SVB Securities and Van Lanschot Kempen, in their capacity as placement agents. About Oculis Oculis is a global biopharmaceutical company (NASDAQ: OCS) purposefully driven to save sight and improve eye care. Oculis’ highly differentiated pipeline comprises multiple innovative product candidates in development. It includes OCS-01, a topical retinal candidate for diabetic macular edema (DME); OCS-02, a topical biologic candidate for dry eye disease (DED); and OCS-05, a disease modifying candidate for acute optic neuritis (AON) and other neuro-ophtha disorders such as glaucoma, diabetic retinopathy, geographic atrophy, and neurotrophic keratitis. Headquartered in Switzerland and with operations in the US, Europe, and China, Oculis’ goal is to deliver life-changing treatments to patients worldwide. The company is led by an experienced management team with a successful track record and is supported by leading international healthcare investors. Oculis’ shares and warrants will trade on the Nasdaq Stock Market under the ticker symbols “OCS” and “OCSAW”, respectively. For more information, please visit: Contacts Investor Relations Dr. Riad Sherif, CEO riad.sherif@oculis.com Media Relations Consilium Strategic Communications Amber Fennell, Tracy Cheung, David Daley oculis@consilium-comms.com