July 1, 2025 atai Life Sciences and Beckley Psytech Announce Positive Topline Data from Phase 2b Study of BPL-003 for Treatment-Resistant Depression

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The BPL-003 Phase 2b study met its primary & secondary endpoints demonstrating rapid, robust, and durable antidepressant effects 4 atai Life Sciences and Beckley Psytech have successfully completed a first-of-its-kind study to evaluate the efficacy and safety of BPL-003 (mebufotenin benzoate) in patients with treatment-resistant depression (TRD) and will move forward with the planned atai Beckley strategic combination BPL-003 was generally well-tolerated at all doses, with 99% of treatment-emergent adverse events being mild or moderate, no drug-related serious adverse events or suicide-related safety signals Phase 2b data supports selection of the 8mg dose and rapid progression into Phase 3 development BPL-003 is delivered through a single-dose administration model fitting into the 2-hour in-clinic treatment paradigm successfully established by Spravato® SPRAVATO is a registered trademark of Johnson & Johnson BPL-003 8mg and 12mg doses demonstrated statistically significant and clinically meaningful reductions in MADRS scores compared to 0.3mg dose at all timepoints of the study

Study Overview

Depression is a debilitating and life-changing condition affecting millions across the globe but with limited treatment options 6 Global Burden of Disease 2021: mental health messages, The Lancet Psychiatry, Volume 11, Issue 8, 573 GlobalData Greenberg PE, Fournier AA, Sisitsky T, Simes M, Berman R, Koenigsberg SH, Kessler RC. The Economic Burden of Adults with Major Depressive Disorder in the United States (2010 and 2018). Pharmacoeconomics. 2021 Jun Zhdanava M, Pilon D, Ghelerter I, Chow W, Joshi K, Lefebvre P, Sheehan JJ. The Prevalence and National Burden of Treatment-Resistant Depression and Major Depressive Disorder in the United States. J Clin Psychiatry. 2021 Bergfeld IO, Mantione M, Figee M, Schuurman PR, Lok A, Denys D. Treatment-resistant depression and suicidality. J Affect Disord. 2018 URGENT NEED FOR INNOVATION Leading cause of disability worldwide1 Depressive disorders was the second highest cause of years lived with disability (YLDs) in 2021 at 56·3 million years, showing an increase of 36.5% since 2010 2nd ~27M Annual prevalent cases of major depressive disorder (MDD) in the U.S.2 Estimated that the U.S. economic burden of adults with MDD was $326.2 billion in 20203 ~31% Of MDD cases are classified as TRD4 Approximately 30% of patients with TRD attempt suicide at least once in their life time5

First-of-its-kind study to evaluate the efficacy and safety of mebufotenin in patients with TRD 7 Largest ever controlled clinical study to investigate mebufotenin First and only blinded Phase 2 study of mebufotenin to include the United States Designed based on FDA feedback to facilitate progression into Phase 3 studies BPL-003 PH2B STUDY OVERVIEW 193 patients enrolled across 38 sites in 6 countries

Randomized, quadruple-masked, monotherapy Phase 2b clinical trial of BPL-003 in patients with moderate to severe TRD Phase 2b Clinical Trial Design Key Inclusion Criteria: Patients with moderate to severe TRD Hamilton Depression Scale (HAM-D) >= 19 Willing and able to discontinue current antidepressants2 Key Objectives: PRIMARY ENDPOINT: MADRS change from baseline at Week 4, 12mg vs. 0.3mg OTHER SECONDARY ENDPOINTS: MADRS change from baseline at Day 2, Week 1 & Week 8 MADRS change from baseline for 8mg vs 0.3mg at Week 4 Responder and remission rates Patients entering the open-label extension are randomized to receive either a single 12mg dose or a biphasic 4mg and 8mg dose approximately 10 minutes apart. Patients were washed out as applicable Abbreviations: MADRS = Montgomery–Åsberg Depression Rating Scale 8 TRIAL STATUS Topline data from the Core Study available Open-Label Extension still progressing, data anticipated in Q3’25 Randomization (n=193) Day 0 2 29 57 Wk-8 Washout 12 mg1 Core Study (8 weeks) Primary Analysis 29 57 Open-Label Extension (8 weeks) 1st Dose 2nd Dose 8 1 1 2 0.3 mg (n=74) 8 mg (n=46) 12 mg (n=73)

Core Study designed based on FDA feedback and to specifically avoid potential unblinding and expectancy effects Phase 2b Clinical Trial Design 9 TRIAL STATUS Randomization (n=193) 2 29 57 Wk-8 Washout 12 mg1 Core Study (8 weeks) Primary Analysis 29 57 Open Label Extension (8 weeks) 1st Dose 2nd Dose 8 1 1 2 0.3 mg (n=74) 8 mg (n=46) 12 mg (n=73) Day 0 Efficacy assessed at multiple time points by centralized, blinded raters 8-week long blinded period to evaluate durability of effect Tested 2 active doses vs. low-dose active control (0.3 mg) to reduce expectancy and select optimal Phase 3 dose Participants were provided psychological support, but not active psychotherapy

Topline Findings From Core Study

Demographics & baseline characteristics were well-balanced across groups 11 BPL-003 0.3 mg(N=74) BPL-003 8 mg(N=46) BPL-003 12 mg(N=73) Overall(N=193) Patient Disposition Age, years, mean (SD) 41.0 (11.2) 40.6 (12.1) 41.2 (10.6) 41.0 (11.1) Female, n (%) 44 (60%) 27 (59%) 43 (59%) 114 (59%) Race, White, n (%) 67 (91%) 38 (83%) 66 (90%) 171 (89%) Completed Core Study, n (%) 64 (87%) 41 (89%) 69 (95%) 174 (90%) Baseline Disease Characteristics HAM-D Total Score, mean (SD) 23.8 (2.9) 23.1 (3.1) 23.7 (3.5) 23.6 (3.2) MADRS Total Score, mean (SD) 31.7 (5.9) 31.1 (6.6) 32.5 (5.1) 31.8 (5.8) Baseline Depressive Episode History Time since initial diagnosis, months, mean (SD) 159.7 (112.5) 163.6 (134.4) 171 (118.6) 164.9 (119.8) No. of lifetime episodes, mean (SD) 5.0 (6.0) 4.5 (3.2) 4.3 (3.0) 4.6 (4.5) Duration of current episode, months, mean (SD) 37.1 (29.0) 30.3 (27.6) 32.8 (40.3) 33.8 (33.4) No. of failed antidepressant medications in current episode, mean (SD) 2.4 (0.7) 2.3 (0.6) 2.3 (0.7) 2.3 (0.6) No. of participants on antidepressants prior to screening and washout, n (%) 46 (62%) 31 (67%) 49 (67%) 126 (65%) Abbreviations: HAM-D = Hamilton Depression Rating Scale; MADRS = Montgomery–Åsberg Depression Rating Scale; SD = standard deviation

Single-dose of BPL-003 met primary endpoint of a statistically significant MADRS reduction at Week 4 vs. 0.3 mg, with effects sustained out to Week 8 CHANGE FROM BASELINE IN MADRS TOTAL SCORE - 12MG & 8MG VS. 0.3MG -10 -5 0 Baseline -8.8* -8.9* Day 2 -11.1* Day 8 -5.8 -12.1* -11.1* Day 29 -10.8* -10.2* Day 57 -10.8* Statistically significant MADRS difference observed at Day 29 following a single 8mg or 12mg dose vs. 0.3mg: MADRS reduction was statistically significant as early as Day 2, with durable response through Week 8 (Day 57) for 8mg and 12mg dose vs. 0.3mg 8 mg dose demonstrated comparable MADRS reduction to 12mg, suggesting it may be sufficient to achieve maximal therapeutic benefit 0.3mg 8mg 12mg LS Mean (±SEM) Change from Baseline in MADRS total score * P<0.01 at all timepoints Treatment Arm MADRS change (Day 29) P-value From baseline Compared to 0.3mg 8mg -12.1 -6.3 0.0025 12mg -11.1 -5.3 0.0038 Primary endpoint Abbreviations: MADRS = Montgomery–Åsberg Depression Rating Scale; SEM = Standard Error Means 12

KEY: BPL-003 produced rapid & lasting clinical response in >30% of patients, with 26% remaining in remission out to Week 8 after a single 8mg dose RESPONDER & REMISSION RATES FOR SINGLE DOSE BPL-003 Subjects meeting response criteria (%) Day 2 Day 8 Day 29 Day 57 28% 0.3mg 8mg 12mg Day 2 Day 8 Day 29 Day 57 8% 8% 18% 8% 19% Subjects meeting remission criteria (%) Responder rates:≥50% improvement in MADRS score Remission rates:MADRS score of ≤10 (N=74) (N=46) (N=73) 13

BPL-003 was generally well-tolerated, adverse events were transient, with no drug related serious adverse events recorded during the Core Study TREATMENT EMERGENT ADVERSE EVENTS (TEAEs) 1. Includes the preferred terms: Blood pressure increased, Blood pressure diastolic increased, and Blood pressure systolic increased >99% of TEAEs were mild or moderate with no drug related Serious Adverse Events (SAEs) Dose related increases in TEAEs suggest the 8mg dose was better tolerated than the 12mg dose Majority of TEAEs occurred on the day of dosing Blood pressure and heart rate increases were transient with mean levels returning to baseline within ~1 hour Majority of patients were deemed ready for discharge at the 90-minute post-dose assessment 0.3 mg(N=74) 8 mg(N=46) 12 mg(N=73) Overall(N=193) TEAEs N participants (%) Any TEAE 54 (73%) 35 (76%) 62 (85%) 151 (78%) Any Drug Related TEAE 25 (34%) 32 (70%) 60 (82%) 117 (61%) Any Drug Related Serious TEAE 0 (0%) 0 (0%) 0 (0%) 0 (0%) Most Reported Drug Related TEAEs (≥10% of subjects) Administration site pain/discomfort 7 (10%) 13 (28%) 28 (38%) 48 (25%) Nausea 1 (1%) 13 (28%) 27 (37%) 41 (21%) Headache 7 (10%) 9 (20%) 20 (27%) 36 (19%) Blood pressure increased1 1 (1%) 6 (13%) 15 (21%) 22 (11%) Anxiety 2 (3%) 2 (4%) 10 (14%) 14 (7%) Vomiting 0 (0%) 6 (13%) 9 (12%) 15 (8%) 14

No suicide-related safety signal SUICIDALITY TEAEs Low rates of treatment emergent suicidal ideation Suicidal ideation was not dose dependent, highest rate at 0.3 mg potentially reflective of background disease state No drug related events of suicidal intent or behaviours in active treatment arms 0.3 mg(N=74) 8 mg(N=46) 12 mg(N=73) Overall(N=193) Drug related suicidality TEAEs N participants (%) Suicidal Ideation 3 (4%) 1 (2%) 2 (3%) 6 (3%) Suicidal Intent 0 (0%) 0 (0%) 0 (0%) 0 (0%) Suicidal Behaviour 0 (0%) 0 (0%) 0 (0%) 0 (0%) 15

High completion rate of Core Study, rollover rate into the open-label extension (OLE) study suggest strong levels of patient acceptability 16 90% of participants in Core Study completed the study 85% of eligible participants in Core Study rolled over onto OLE study screening Note: Eligibility for the OLE study required completion of the Core Study and regulatory & ethical approval of the OLE protocol at the participant's site. 134 out of 174 total completers were at sites with OLE protocol approval. 114 out 134 eligible completers entered OLE screening and 107 received a BPL-003 dose

Key achievements and upcoming catalysts for BPL-003 What BPL-003 has demonstrated so far: Rapid, robust, and durable therapeutic benefit for at least 2 months Favorable safety & tolerability profile POC data in adjunctive patients show similar tolerability and efficacy results 2-hour in-clinic treatment time, fitting into Spravato® treatment paradigm Phase 3 ready asset with 8mg dose Abbreviations: OLE = Open Label Extension; CMC = Chemistry, Manufacturing & Controls; POC = Proof-of-Concept Anticipated key catalysts in Q3’2025: Topline data from 8-week Phase 2b OLE study investigating safety, efficacy and durability after a 2nd dose Topline data from Phase 2a open-label cohort investigating a 2-dose induction model (n=12) FDA End of Phase 2 meeting request 17

BPL-003 Opportunity & Competitor Landscape

Spravato® (esketamine) achieved blockbuster status with 2-hour interventional psychiatry treatment paradigm 19 2-hour dosing protocol with established infrastructure Patients monitored for at least 2 hours at each treatment session Delivered intranasally under the supervision of a healthcare provider >5,000 certified clinics1 ~40-50K US patients treated in 20242 Potential for many administrations per year Weeks 1 to 4: twice per week Weeks 5 to 8: once weekly Week 9 and after: every two weeks or once weekly https://www.spravato.com/spravato-available-treatment-centers/ Based on global annual sales and gross to net pricing assumptions Johnson&Johnson Q4 and Full-Year 2024 Results: https://www.investor.jnj.com/news/news-details/2025/Johnson--Johnson-Reports-Q4-and-Full-Year-2024-Results/default.aspx Spravato® – Reported Global Annual Sales3(2021-24) $26M 2021 $46M 22 23 24 $224M $374M $689M $1,077M Rest of World US SPRAVATO® interventional psychiatry treatment paradigm JNJ now highlights SPRAVATO® as a “key franchise” guiding $3 billion to $3.5 billion in annual sales by 2028 Spravato® sales grew 41.9% YoY for Q1 2025 vs. Q1 2024

BPL-003 is uniquely designed to leverage Spravato® 2-hour in-clinic treatment paradigm 20 ANTICIPATED TIME TO DISCHARGE FROM CLINIC POST-DOSE 1 (in hours) Illustrative SPRAVATO® BPL-003 Multi-dose 5-MeO-DMT Psilocybin + analogs MDMA LSD Average workday(8 hours) ~2 ~2 ~2 ~1 to 3* ~6 ~8 ~8 to 12 VLS-01 1. Subject to further validation through future clinical studies and real-world evidence 2. www.spravatohcp.com/#find-a-center * If multi-dose required KEY TAKEAWAYS SUPPORTING COMMERCIAL POTENTIAL Predictable 2-hour treatment: the potential to fit into the 2-hour in-clinic treatment paradigm established by Spravato® Potential extended durability: 1-2 doses of a psychedelic therapy provides a sustained effect, simplifying the dosing schedule compared to Spravato® (once weekly or biweekly) Scalability limits of other psychedelics: longer duration psychedelics like psilocybin, or multi-dose models, require extended clinic time and therapist involvement, Potential to significantly improve use of infrastructure: lower dosing frequency compared to Spravato®, and avoiding full day occupancy requirements of other psychedelics, could lower provider burden and improve payer receptivity

KEY: CHANGE IN MADRS FOLLOWING SINGLE DOSE OF BPL-003 VS TWICE WEEKLY DOSING SPRAVATO® MONOTHERAPY1 21 Single-dose of BPL-003 demonstrated comparable MADRS response to published results from a twice-weekly Spravato® monotherapy dosing regimen RESPONDER & REMISSION RATES FOLLOWING SINGLE DOSE OF BPL-003 VS TWICE WEEKLY DOSING SPRAVATO® MONOTHERAPY1 Spravato® twice weekly dosing sessions Responder rates (≥50% improvement in MADRS score) Day 2 Day 8 Day 28/29 8mg BPL-003 84mg Esketmaine Remission rates (MADRS score of ≤10) Day 2 Day 8 Day 28/29 15% 15% 26% 26% 1. Janik et al, 2024, Efficacy and Safety of Esketamine Nasal Spray as Monotherapy in Adults with Treatment-Resistant Depression: A Randomized, Double-Blind, Placebo-Controlled Study. No head-to-head trial has been conducted. Data from studies of these clinical candidates may not be directly comparable due to differences in molecule composition, trial protocols, dosing regimens, and patient populations and characteristics. Abbreviations: MADRS = Montgomery–Åsberg Depression Rating Scale

BPL-003 offers potential advantages over Spravato® with longer duration of effect and reduced patient burden driven by fewer required dosing sessions Established Medical Device Delivered in Interventional Psychiatry Setting Pre-Dose Education & Counselling 2-Hour Treatment Time to Discharge 1 or 2 Dose Induction Regimen* 2 Months of Blinded Durability Data from a Single-Dose BPL-003 (mebufotenin benzoate) Intranasal dry powder ✓ ✓ ✓ ✓ ✓ X X ✓ ✓ ✓ *For illustrative purposes only.. No head-to-head studies have been conducted evaluating BPL-003 to esketamine. SPRAVATO is administered twice a week during weeks 1-4 in the induction phase, followed by maintenance treatment once weekly during weeks 5-8 22 Induction of biweekly dosing for 4 weeks Dosed every 1-2 weeks

Next Steps

24 Stronger together, atai life sciences and Beckley Psytech unlock value for patients and shareholders Experienced management team Fully owned pipeline with first-in-class potential Multiple near-term milestones Commercially scalable psychedelic therapies Strong IP portfolio Long-term financial synergies Focused pipeline of rapid-acting, accessible psychedelic therapies for mental health

Lock-up holders may not sell or transfer shares before the later of (a) 60 days following the public announcement of the Phase 2b study or (b) transaction closing (the “Lock-Up Period”). Upon the expiry of the Lock-Up Period lock-up holders shall cease to be restricted at a rate of 1/12th of each lock-up holders’ securities per month. Refer to the stock purchase agreement for additional details. 25 atai-Beckley Business Combination Highlights Consideration Management & Board BPL-003 Data Transaction Closing and Conditions All-stock deal Non-atai Beckley Psytech shareholders will receive ~105.0M newly issued shares of atai common stock (~31% of pro forma entity) Combined Company will be led by atai’s CEO Srinivas Rao and the executive team will be a combination of atai and Beckley management The Combined Company board will include two nominations from Beckley Psytech shareholders Closing expected 2H 2025, subject to atai shareholder approval Beckley Psytech shareholders approved the transaction and ~25% of atai’s common stock have entered into voting agreements in support of the transaction Non-atai Beckley Psytech shareholders and Apeiron have entered into lock-up agreements, restricting the sale or transfer of their shares in the combined company following the public announcement of the results of the Phase 2b study of BPL-0031 atai’s Board recommendation is subject to the following BPL-003 Phase 2b success criteria: Statistical significance achieved on the primary endpoint (MADRS) of the Phase 2b study of BPL-003 with a p<0.05 Less than 3 individual cases of drug related serious adverse events observed in the 8mg arm during the Phase 2b study Less than a total of 6% drug related serious adverse events observed in the 12mg arm during the Phase 2b study

Combined vision is being delivered through a pipeline of fully-owned psychedelic development programs for mental health indications Abbreviations: DMT = Dimethyltryptamine; R-MDMA = R enantiomer of 3,4-Methylenedioxymethamphetamine ELE-101 Psilocin Programs Primary Indication Preclin Phase 1 Phase 2 Phase 3 Treatment Resistant Depression (TRD) Social Anxiety Disorder (SAD) TRD VLS-01 DMT EMP-01 R-MDMA BPL-003 Mebufotenin (5-MeO-DMT) benzoate Post-combination Fully-Owned Programs Undisclosed Novel 5-HT2A Receptor Agonists(inc. non-hallucinogenic neuroplastogens) 26

The BPL-003 Phase 2b study met its primary & secondary endpoints demonstrating rapid, robust, and durable antidepressant effects 27 BPL-003 was generally well-tolerated at all doses, with 99% of treatment-emergent adverse events being mild or moderate, no drug-related serious adverse events or suicide-related safety signals Phase 2b data supports selection of the 8mg dose and rapid progression into Phase 3 development BPL-003 is delivered through a single-dose administration model fitting into the 2-hour in-clinic treatment paradigm successfully established by Spravato® SPRAVATO is a registered trademark of Johnson & Johnson BPL-003 8mg and 12mg doses demonstrated statistically significant and clinically meaningful reductions in MADRS scores compared to 0.3mg dose at all timepoints of the study Strong IP portfolio with issued US patents out to 2043

Q&A