2Q25 (L)earnings August 2025

This presentation of Recursion Pharmaceuticals, Inc. (“Recursion,” “we,” “us,” or “our”) and any accompanying discussion contain statements that are not historical facts may be considered forward-looking statements under federal securities laws and may be identified by words such as “anticipates,” “believes,” “estimates,” “expects,” “intends,” “plans,” “potential,” “predicts,” “projects,” “seeks,” “should,” “will,” or words of similar meaning and include, but are not limited to, statements regarding the impact of the acceptance of the second whole-genome neuro map of microglia immune cells on future developments, identification of novel targets, and potential treatments; Recursion’s ability to demonstrate the potential of technology-driven approaches to increase speed, quality and the scalability of drug discovery; Recursion's future as a leader in TechBio and ability to deliver better treatments to patients faster; Recursion’s OS industrializing first- and best-in-class drug discovery; our ability to industrialize clinical development and the effect of doing so on clinical trial outcomes; the occurrence or realization of potential milestones; current and future preclinical and clinical studies, including timelines for enrollment in studies, data readouts, and progression toward IND-enabling and other potential studies; advancements of our pipeline, partnerships, and data strategies; the potential size of the market opportunity for our drug candidates; outcomes and benefits from licenses, partnerships and collaborations, including option exercises by partners and the amount and timing of potential milestone payments; the initiation, timing, progress, results, and cost of our research and development programs; advancements of our Recursion OS; the potential for additional partnerships; our ability to identify viable new drug candidates for clinical development and the accelerating rate at which we expect to identify such candidates including our ability to leverage the datasets acquired through the license agreement into increased machine learning capabilities and accelerate clinical trial enrollment; Recursion’s cash position and cash runway; and many others. Other important factors and information are contained in Recursion’s most recent Annual Report on Form 10-K, Quarterly Report on Form 10-Q, and the Company’s other filings with the U.S. Securities and Exchange Commission (the “SEC”), which can be accessed at https://ir.recursion.com, or www.sec.gov. All forward-looking statements are qualified by these cautionary statements and apply only as of the date they are made. Recursion does not undertake any obligation to update any forward-looking statement, whether as a result of new information, future events or otherwise. Certain information contained in this presentation relates 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 sources to be reliable as of the date of this 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, all of the market data included in this presentation involves a number of assumptions and limitations, and there can be no guarantee as to the accuracy or reliability of such assumptions. Finally, while the company believes its own internal research is reliable, such research has not been verified by any independent source. Information contained in, or that can be accessed through our website is not a part of and is not incorporated into this presentation. Cross-trial or cross-candidate comparisons against other clinical trials and other drug candidates are not based on head-to-head studies and are presented for informational purposes; comparisons are based on publicly available information for other clinical trials and other drug candidates. Any non-Recursion logos or trademarks included herein are the property of the owners thereof and are used for reference purposes only. Important Information 2

Executive Leadership Updates

Recursion to evolve its executive leadership to prepare for the next chapter, effective January 1st, 2026 4 Co-Founder, Chairman & Executive Advisor Chris Gibson, Ph.D. Co-Founder, CEO and Director CEO, President & Director Najat Khan, Ph.D. Chief R&D & Commercial Officer and Director Vice-Chairman & Lead Independent Director Rob Hershberg, MD./Ph.D. Chairman

The company is capitalized to deliver against a robust catalyst calendar spanning pipeline, partnerships and platform 2H 2025 Catalysts REC-4881 (MEK1/2i) Additional safety and efficacy data from TUPELO in FAP in December 1H 2026 Catalysts REC-1245 (RBM39 degrader) Early safety and PK from monotherapy trial 5 2H 2026 Catalysts REC-102 (ENPP1i) Potential Phase 1 initiation1 REC-7735 (PI3Kα H1047Ri) Potential Phase 1 initiation1 1. Pending GLP toxicology data 2. Cash, cash equivalents and restricted cash as of October 9, 2025 (unaudited) Note: REC-3565 (MALT1i) early safety and efficacy data expected in 1H2027 20262025 2026 Partnership Catalysts Potential for multiple new project initiations Potential for many programs optioned by partners ~$785 million in cash2; runway through YE27, without additional financing

Platform Fuels Partners

Recursion continues to deliver on its milestones and secure its future as the TechBio leader 7 total cash inflows achieved across all our partnerships and collaborations >$500 million1$30 million milestone payment for delivering a second whole-genome neuro map 1. With the achievement of the microglia milestone, Recursion will have reached over $500 million in milestone and upfront payments across all its partnerships and collaborations

Phenomaps Roche and Genentech collaboration within neuroscience and GI oncology indication 8 $150M upfront 40 potential programs $300M potential milestones / program GI Oncology Indication 4 Phenomaps Generated from over 100 billion GI onc relevant cells Neuroscience Optioned in 2023 and advancing toward lead series First program Identified a number of biological insights Could become novel targets of interest Advancing unbiased, novel biological insights to programs 2 Generated from over 1 trillion iPSC-derived neuronal cells and 100 billion microglial cells

Recursion maps create an unbiased view of biology, to uncover multiple potential novel targets, pathways, and chemical matter 9 *Phenosimilar = comparable biologic effect in KO setting †Pheno-opposite = biologic effect is opposite of another perturbation in a high-dimensional representation latent space, which may indicate negative regulation or oppositional functional effects in many biological settings Note: Cell images for illustrative purposes • Digital representation of complex biological systems based on large-scale experimental data in living cells, generated in-house • Proprietary models trained on our supercomputer create a navigable and queryable map of potential biological and chemical relationships • Turns the initial stages of drug discovery into a search problem Similar* Opposite†

First-of-its-kind Microglia Map provides a whole-genome view of the brain’s resident immune cells

What’s next: Leveraging Microglia Map to drive discovery of novel biological insights for development of new therapeutic programs

Platform Fuels Pipeline

Recursion OS 2.0: Efficiently delivering novel insights, precision design, and optimized clinical trials 13 Design Workflow Automated ADMET Automated Chemistry Automated Biology 3D Protein & Atomistic Models Molecular Property Prediction & Design Scientific Agents Nomination Workflow Scientific Agents Transcriptomics Assay & Models ML-based Patient Connectivity (RWD) LLMs & Graphs MOA Deconvolution Scaled Binding Affinity Predictions Phenomics Assay & Models Clinical Trial Design ClinTech Workflow AI-powered Recruitment Causal AI Patient Stratification & Indication Selection AI-enabled Precision Design AI-powered Biological Insights AI-informed Clinical Development Scientific Agents

Advancing differentiated medicines, powered by the Recursion OS MEK1/2 RBM39 CDK7 MALT1 ENPP1 PI3K⍺ H1047R Late Discovery Early Discovery Partnered Discovery Phenomics Transcriptomics Patient Connectivity & Other Molecular Design 3D Protein & Atomistic Models Automated Chem, Bio, & ADMET Causal AI AI-powered Recruitment Trial Design A I- e n a b le d P re c is io n D e s ig n A I- p o w e re d B io lo g ic a l I n s ig h ts A I- in fo rm e d C li n ic a l D e v e lo p m e n t Illustrative To be utilized as programs advance and at partner discretion Platform V2.0Platform V1.0Platform V0.1 14

REC-4539 for small-cell lung cancer (target: LSD1) is on strategic pause. Delivering pipeline advancements and partnership value 15 Target Disease Indication Late Discovery Preclinical Phase 1/2 Pivotal/Phase 3 Oncology REC-617 CDK7 Advanced solid tumors REC-1245 RBM39 Biomarker-enriched solid tumors & lymphoma REC-3565 MALT1 B-cell malignancies REC-7735 PI3Kα H1047R HR+ breast cancer Rare Disease REC-4881 MEK1/2 Familial adenomatous polyposis REC-102 ENPP1 Hypophosphatasia Partners Therapeutic Area Highlights Roche and Genentech Neuroscience & oncology • 6 Phenomaps: 4 GI oncology, 2 neuroscience • 1 program initiated in GI onc indication Sanofi Oncology & immunology • 4 milestones achieved in 18 months • Portfolio of projects continuing to expand • Upcoming milestones (e.g. development candidate, lead series) Bayer Oncology • Advancing programs to lead series milestones Merck KGaA, Darmstadt, Germany Oncology & immunology • Identify and advance first-in-class and best-in-class programs

CDK7 REC-617

REC-617: Potential best-in-class oral CDK7 inhibitor Biological Insight Combining CDK7 inhibitors with agents targeting complementary pathways may achieve a more comprehensive anti-tumor response Design AI-powered precision design to optimize PK/PD to maximize potential therapeutic index with minimal off-target effects In Vivo Data Demonstrates potent tumor regressions with no body weight changes and favorable PK Clinical Early monotherapy dose escalation data suggests potential best-in-class with a manageable safety profile and preliminary clinical activity REC-617 Target Profile 17 What’s Next • Recruitment ongoing for monotherapy & combination dose- escalation • Preliminary ovarian combination data in 2027

Phase 1 Dose-Escalation ✓MTD achieved in advanced solid tumors • Alternative dosing schedules ongoing Phase 2 Dose-Expansion • 2L+ platinum-resistant ovarian cancer with 10 mg REC-617 ongoing Phase 1 Dose-Escalation – initiated 2H25 • 2L+ platinum-resistant ovarian cancer with REC-617 in combination with standards of care • Bevacizumab and paclitaxel or • Pegylated liposomal doxorubicin (PLD) • Potential to add additional tumor types in combination with standard of care 18 REC-617: Phase 1/2 ELUCIDATE ongoing Monotherapy Ph 1/2 ongoing; combination Ph 1 ongoing REC-617 Monotherapy REC-617 Combinations • Recruitment ongoing for all cohorts • Preliminary ovarian combination data in 2027 Clinical Update

Monotherapy MTD in QD 2 mg QD (n=3) 5 mg QD (n=4) 10 mg QD (n=10) 15 mg QD (n=6) 1 mg BID (n=3) 20 mg QD (n=3) ELUCIDATE: Monotherapy MTD for QD regimen identified in Phase 1/2 clinical trial of REC-617 in advanced solid tumors 21 1. Data-cut off: 29 September 2025. All data shown as n (%) unless otherwise specified 2. All patients received CDK4/6 inhibitors in prior lines Data Cutoff Date: 2025-09-29 Patient Characteristics1 N=29 Median age (years) 60 Range 30-79 Tumor type Breast carcinoma (HR+/HER2–)2 4 (14%) Colon adenocarcinoma 13 (45%) Non-small cell lung cancer (NSCLC) 4 (14%) Epithelial ovarian carcinoma 7 (24%) Pancreatic adenocarcinoma 1 (3%) Median prior lines of prior systemic regimens 4 Key inclusion criteria • Unresectable, locally recurrent, or metastatic cancer • Progressed following, or intolerant to, available SoC treatments • ECOG PS 0-1 Primary objective • PK and safety Secondary objective • Anti-tumor activity Phase 1 Monotherapy Dose-Escalation Continuous once-daily dosing summary • 10 mg continuous daily dosing established as MTD o Manageable safety profile o Target coverage consistent with preclinical potency o Preliminary clinical activity observed • Phase 1 combination escalation enrolling at 5 mg QD [MTD-1]

Phase 1 safety: REC-617 monotherapy continues to show a manageable safety profile supporting best-in-class potential 23 Data Cutoff Date: 2025-09-29 Adverse Event1, n N=29 All Grade Grade ≥3 Treatment-Related Adverse Event (TRAE) 26 (90%) 8 (28%) Most Common TRAEs (≥20%) GI related Diarrhea 20 (69%) 4 (14%) Nausea 12 (41%) 1 (3%) Vomiting 8 (28%) 1 (3%) Non-GI related Fatigue 13 (45%) 0 Decreased appetite 9 (31%) 2 (7%) Thrombocytopenia 8 (28%) 2 (7%) Other Class TRAEs Non-GI related Weight decreased 5 (17%) 0 ALT increased 4 (14%) 1 (3%) AST increased 3 (10%) 0 Stomatitis 3 (10%) 0 1. Data-cut off: 29 September 2025. All data shown as n (%) unless otherwise specified 2. Ovarian cancer patient with baseline liver metastases and history of liver resection 3. Coombes, RC, Nat Comms (2023). Phase 1 monotherapy dose escalation data (N=44), Supplementary Table 8 Integrated safety analysis in all patients • Most TRAEs were low grade (Grade 1/2). No Grade 4 or Grade 5 • Most common DLTs were thrombocytopenia and nausea • 7% (N=2) discontinued due to a TRAE o 1 Grade 3 ALT increased2 o 1 Grade 3 nausea Safety and tolerability profile support best- in-class potential • Previously reported drug-related GI AEs from Phase 1 study of samuraciclib3 o Diarrhea (82%) o Nausea (77%) o Vomiting (80%)

Baseline Week 16 Para-aortic LN Para-aortic LN Phase 1 preliminary data: Linear plasma PK profile and early signs of anti-tumor activity 24 REC-617 monotherapy demonstrated signs of early anti- tumor activity2: • One confirmed, durable partial response by RECIST 1.13 o 4L PROC patient; no BRCA 1/2 mutation o Initiated therapy at 20 mg QD, dose reduced at Week 4 to 10 mg QD due to transient Grade 3 nausea o Patient was treated for approximately 7 months • Five patients achieved a best response by RECIST 1.1 of stable disease o One patient received 2 mg QD o Four patients received 10 mg QD • REC-617 demonstrates dose-proportional exposures exceeding CDK7 IC80 • Exposures remain below CDK2 IC80, supporting selective target inhibition1 REC-617: Clinical Drug-Plasma C1D1 Exposure 1. In vitro potencies adjusted for plasma protein binding (total-equivalent basis) 2. Data-cut off: 29 September 2025 3. Response evaluation criteria in solid tumors, PR: decrease of more than 30% in the sum of the longest diameters of target lesions + no new lesions + no progression of non target lesions

Indication selection: AI-enabled causal inference strengthens preclinical data for indication selection of ovarian cancer for ELUCIDATE 25 1. Besnard et al, AACR (2022) 2. Causal inference framework based on a network-informed directed acyclic graph (DAG) to assess CDK7’s impact on clinical outcomes. Patients were indexed on their date of NGS sequencing and followed until death or censoring with 10 + years of patient follow available. The model adjusts for relevant clinical and genomic confounders, including BRCA status, treatment history, and tumor genomics. Ovarian cell line sensitive to CDK7 inhibition with REC-617 • Unbiased analysis of over 360 cell lines in glo titer assay Cell Panels Causal Inference using Omics and Clinical data CDK7 emerges as a likely driver of poor survival in ovarian cancer • Based on a causal inference framework leveraging multi-omic and clinical data • Over ~32K patient records using DNA, RNA, and clinical outcomes Impact • Supports preclinical findings with causal inference using omics and patient data • 1st indication: 2L+ platinum- resistant ovarian cancer (PROC) Potent tumor regression with REC-617 treatment • 10mpk dose shows complete tumor regression by Day 27 • <10 hours of exposure above CDK7 IC80 to optimize benefit-risk In Vivo Models CDX Model: OVCAR1 Patient Data: Ovarian Cancer2Cell Line: OVCAR3 S u rv iv a l p ro b a b ili ty Number of months post-sequencing What’s Next Preliminary ovarian combination data in 2027

MEK1/2 REC-4881

What’s Next December Webinar • Phase 1b/2 update: Additional 4 mg cohort data and follow-up • Potential next steps for program REC-4881: Phase 1b/2 data update webinar in December 27 High Unmet Need • ~50K diagnosed across US + EU51 • Rare, inherited APC loss of function disorder • Characterized by >100 colorectal polyps • Progressive disease with no spontaneous regression observed • Surgery remains standard of care (e.g. colectomy) • No approved pharmacotherapies Key preliminary efficacy and safety data from Phase 1b/2 TUPELO trial2: 4 mg dose generally well-tolerated • 19% Grade 3 TRAEs • Majority of AEs include manageable rash and cardiac toxicity4 1. US + EU5 diagnosed prevalence of FAP (adult and pediatric), Internal company estimates. 2. Data cut off date: 2025-03-17 3. Efficacy Evaluable Population: Defined as all participants who have measurable disease (non-zero polyp burden) at end of baseline endoscopy, received at least 75% of study drug, and have at least one post-baseline on study endoscopic assessment. N=6 as of data cut-off date: 2025-03-17 4. Limited cardiac toxicity concern in Phase 2: 18% (N=2) patients reported G2 LVEF decrease 43% median reduction in total polyp burden3 5 of 6 Patients achieved >30% reduction in total polyp burden3

Financial Update

Cash runway to deliver on upcoming milestones 29 1. Cash, cash equivalents and restricted cash 2. Net proceeds from At-the-Market (ATM) Facility, now fully utilized and completed 3. Risk-adjusted cash inflows from partnerships included in estimated cash runway 4. Cash burn, defined as operating cash flow less capital expenditures, excluding partnership and financing inflows, transaction expenses and severance 5. YE2024 reported OpEx for Recursion and Exscientia combined, excluding non-cash GAAP items (e.g. share-based compensation). 2026 estimate of <$390 million cash burn • Expected 2025 cash burn4 of <$450 million • Expected 2026 cash burn4 of <$390 million • Expected reduction in pro forma operating expenses by ~35% from 2024 to 20265 Partnership updates Cash1 update Reaffirming guidance • $785 million in cash1 as of October 9, 2025 (unaudited) o $667.1 million in cash1 as of September 30, 2025 • $387.5 million in net proceeds2 in 3Q25 & 4Q25 • $30 million milestone from Roche for microglia map (expected 4Q25 cash inflow; with a meaningful portion to be recognized as revenue in 4Q25) • New milestone drives total partnership inflows >$500 million • Well on track for over $100 million in partnership inflows by YE263 Expected cash runway through YE 2027, without additional financing

Key Accomplishments and Outlook

Internal and external momentum 2025 achievements YTD Internal Pipeline Highlights REC-617 (CDK7i) Combo initiation Monotherapy update REC-4881 (MEK1/2i) Phase 2 update REC-3565 (MALT1i) Monotherapy initiation REC-7735 (PI3Kα H1047Ri) DC nomination 31 DC = development candidate ROCHE and GENENTECH $30M microglia map optioned Advancing optioned program SANOFI $7M milestone for immunology program Advanced discovery programs Partnership HighlightsPlatform Highlights RECURSION 2.0 Integrated design platform Boltz-2 released ClinTech expanded 2025

Upcoming milestones FY 2025 and 2026 pipeline and partnership catalysts 2H 2025 Catalysts REC-4881 (MEK1/2i) Additional safety and efficacy data from TUPELO in FAP in December 1H 2026 Catalysts REC-1245 (RBM39 degrader) Early safety and PK from monotherapy trial 32 2H 2026 Catalysts REC-102 (ENPP1i) Potential Phase 1 initiation1 REC-7735 (PI3Kα H1047Ri) Potential Phase 1 initiation1 1. Pending GLP toxicology data Note: REC-3565 (MALT1i) early safety and efficacy data expected in 1H2027 20262025 2026 Partnership Catalysts Potential for multiple new project initiations Potential for programs optioned by partners