*Invite* June 5 (Fri) 6:30PM CT: WVE Mgmt Group Dinner at ADA'26

Research evidence excerpt

*Invite* June 5 (Fri) 6:30PM CT: WVE Mgmt Group Dinner at ADA'26

USA | Biotechnology

WAVE EquityMayResearch12, 2026

FLASH NOTE*Invite* June 5 (Fri) 6:30PM CT: WVE Mgmt

RATING BUYGroup Dinner at ADA'26

PRICE $7.07^

At 6:30PM CT on Friday, June 5, we will be hosting an investor group dinner with

WVE's mgmt at ADA'26 in New Orleans. Key topics of discussion include the PRICE TARGET | % TO PT $18.00 | +155%

evolving obesity space, WVE-007's Ph1 obesity data, WVE-007's Ph2 trial design 52W HIGH-LOW $21.73 - $5.02

including monoTx MAD/ incretin combo/ maintenance trials, and WVE-007's FLOAT (%) | ADV MM (USD) 95.6% | 29.68

expected positioning in the future obesity space, commercial opportunity for an MARKET CAP $1.1B

INHBE siRNA in obesity. TICKER WVE ^Prior trading day's closing price unless otherwise

noted.

Date & Time: 6:30 PM (CT) on Friday, June 5, 2026

Location: TBD, New Orleans

**Please reach out to your JEF reps to register; space is limited**

WVE Mgmt team: Paul Bolno (Chief Executive Officer), Erik Ingelsson (Chief Scientific Officer)

Jefferies Biotech Analyst: Roger Song, MD, CFA

Discussion Topics

Evolving priorities in obesity disease space•

Changing conversations around body composition in treating obesity •

Recognition of importance of visceral fat for long-term comorbidities risk reduction •

Broader conversations around potential updates to 5% weight loss regulatory bar •

Highlights from Ph1 WVE-007 data readouts•

Efficacy across multiple dimensions (visceral/ total fat loss, muscle preservation, •

weight loss)

Safety data •

Nuances around baseline characteristics •

Planned WVE-007 Ph2 trials•

Trial designs for monoTx MAD study, incretin combo study, and maintenance study •

Updates to patient inclusion criteria (e.g. higher BMI, greater waist circumference) •