BullFrog AI is a technology enabled drug development company using machine learning to usher in a new era of precision medicine. Through its collaborations with leading research institutions, including Johns Hopkins University and J. Craig Venter Institute, BullFrog AI is at the forefront of AI-driven drug development. Using its proprietary bfLEAP™ artificial intelligence platform, BullFrog AI aims to enable the successful development of pharmaceuticals and biologics by predicting which patients will respond to therapies in development. BullFrog AI is deploying bfLEAP™ for use at several critical stages of development with the intention of streamlining data analytics in therapeutics development, decreasing the overall development costs by decreasing failure rates for new therapeutics, and impacting the lives of countless patients that may have otherwise not received the therapies they need.

1. Nasdaq: BFRG
Investor Presentation
March 2023

2. 2
Forward-Looking Statements
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3. BullFrog AI
Nasdaq: BFRG
An AI company that is focused on
accelerating the process of drug
development and clinical testing,
ultimately impacting patient lives

4. BullFrog AI Overview
• CEO - Serial biotech entrepreneur BFRG and MXCT
• Outstanding and EXPERIENCED leadership team
• Worldwide EXCLUSIVE rights to and award-winning AI/ML technology from
Johns Hopkins University – Applied Physics Laboratory
• Strong Internal Drug Pipeline
• Revenue generating contracts…. pursuing more….
• Strong portfolio of intellectual property (9 issued patents + 4 pending)
• Robust, rapidly scalable business model
• Large, high-growth markets
• Proprietary algorithms outperform competition
• Shares outstanding: 5.65 million; float: 1.34 million
• Recent price: $4.03 (as of March 8, 2023)
4

5. Our Founding Technology from….
Johns Hopkins University – Applied Physics Lab
▪ APL solves complex research, engineering, and analytical problems that
present critical challenges to our nation. APL—the nation’s largest university
affiliated research center—provides U.S. government agencies with deep
expertise in specialized fields to support national priorities and technology
development programs. APL also serves as independent trusted technical
agents to the government, providing continuity for highly complex,
multigenerational technology development systems.
▪ 6000+ Engineer and Scientists
▪ Developed the AI platform that is the core of BullFrog AI
5

6. Our Business Model – Unlock Value From Data
Leveraging our technology platform
Create Networks of Data
Clinical Development
Discovery Stage Novel Targets
Customer provided analysis
BullFrog AI provided analysis
100% owned in-licensed
pipeline
Out-license at IND, or Phase I
or Phase II
(upfront, milestones, royalties)
Network Specific Datasets
Patient Predictor
in-house pipeline of discovery assets
Collaborate with Pharma and
CROs in areas outside our
expertise
Out-license at IND,
(upfront, milestones, royalties)
1.
Public or Proprietary
Data Mining
Find patterns, relationships and anomalies in
complex data sets
Drug Rescue/ Data Insights
Identify patient non-responders
Predict patient outcomes
Drug development
programs
2.
3.
4.
6

7. Pipeline
Program Candidate Discovery Preclinical Phase 1 Phase 2 Phase 3 Collaborator Status
Glioblastoma
Repurposed
small
molecule for
cancer therapy
The Johns
Hopkins
University
Exclusive License
Liver Cancer (HCC)
siRNA for
cancer and
metabolic
disorders
The George
Washington
University
Exclusive License
Morbid Obesity Exclusive License
NASH Exclusive License
NAFLD Exclusive License
Colorectal Cancer Oncolytic Virus JCVI Exclusive Co-Dev
= planned
PARTNER
7

8. Vin Singh Founder & CEO
Dr. Kristin Bigos Dir. Clinical Dev./ SAB
• Founder & former CEO, Next Healthcare Inc.
• Co-founder, MaxCyte Inc. - operating / IPO London Exchange 2016
(~USD$1B market cap)
• Global Director, Cell Therapy - ThermoFisher Scientific
• B.S. Electrical Engineering, Rutgers University
• M.S. Biomedical Engineering, Rensselaer Polytechnic Institute
• MBA, The Johns Hopkins University
• Assistant Professor of Medicine, Psychiatry, and Pharmacology - Johns
Hopkins University, School of Medicine
• Research is focused on neuropsychiatric drug development with a precision
medicine approach to the treatment of mental illness
• B.S. Premedicine, Pennsylvania State University
• Ph.D. Clinical Pharmaceutical Sciences, Univ. of Pittsburgh
Dane Saglio CFO
• Seasoned executive with in-Depth experience in finance and
accounting
• SEC compliance and corporate governance
• Former CFO of EntreMed, Inc., New Generation Biofuels, Inc.,
and RegeneRx Biopharmaceuticals, Inc.
• Most recently CFO with Seneca Biopharma Inc., which merged
with Leading Biosciences Inc., in April 2021
• B.S. Business Administration – University of Maryland
• Inventor, bfLEAP™ platform technology
• Chief Scientist, Computational Mathematics, Johns Hopkins
Applied Physics Laboratory
• Former Senior Engineer with Lockheed Martin
• Former Senior Analyst with Metron, Inc.
• M.Sc., Computer Science – The Johns Hopkins University
• M.Sc., Physics – University of Pittsburgh
• Ph.D., Theoretical Physics – University of Pittsburgh
• 30+ years experience in Information Technology for Business
• Founder, Delmarva Group LLC
• Director of IT Architecture for Day and Zimmerman, Inc .
Bill Hirschman Chief Commercial Officer
Dr. Dave Recker Chief Medical Officer
• Accomplished Sales & Marketing leader in the Life Sciences industry who brings over thirty years of
• experience to BulFrogAI.
• Skilled at creating business strategy and implementing go-to-market plans from idea stage into
action.
• Has delivered a consistent track record of exceeding sales and revenue targets across diverse
industries
• for both large and small companies.
• Led multiple business turnarounds, including two multinational companies exceeding 500% growth
• and $1B in revenue.
• Held senior executive commercial leadership experience at Worldwide Clinical Trials, Thermo
Fisher Scientific, Covance and Baxter Healthcare Corporation
•
• Board certified in Internal Medicine and Rheumatology
• 35+ years pharma development experience in virtually every therapeutic area including
small molecules, biologics, cell therapy, and devices
• Senior Vice President Clinical Science and Interim President Takeda Global Research and
Development
• MD with Distinction from University of Michigan
• Internship, Residency, and Chief Resident University of Michigan
J.T. Koffenberger Chief Information Officer
Cetin Savkli Inventor / Chair Advisory Board
8
Our Team – Experienced / Diverse / Talented
Dr. Thomas Hazel VP Drug Development
• over 20 years of industry experience in R&D and business development
• most recently served as Senior VP of R&D at Seneca Biopharma, overseeing development of
the company’s stem cell-based therapeutics platform
• 9 granted US patents and multiple foreign patents in stem cells and regenerative medicine
• BA – Kalamazoo College
• PhD, Genetics – University of Illinois College of Medicine

9. The Problem:
High Failure Rate of Late-Stage Clinical Trials
88% of drugs
in the industry’s pipeline will fail
8½ years
average until ready to go to market
$2.6 billion
average cost for a new drug
$100 billion
spent on research in 2018 by Top 15 pharma companies
$204 billion
Total annual R&D spending by 2024, 3% CAGR
Only 12% of drugs that enter clinical trials make it to market
9

10. THE BULLFROG AI PLATFORM:
Award-winning analytics platform
(Johns Hopkins APL – Technology of the Year 2018)
Proven technology, actionable insights
Enable more precise and efficient
development of new therapeutics
10

11. BullFrog’s newest algorithms outperformed the top 10 currently-used
algorithms for complex, multi-variate data analysis
C. Savkli, C. Schwartz. “Random Subspace Mixture Models for Interpretable Anomaly
Detection” 23rd International Conference on Artificial Intelligence, July 26-29, 2021, USA
BullFrog’s
algorithm
was #1
BENCHMARK COMPARISON STUDY
5

12. What makes BullFrog special?
1. Feature selection
2. Predictions from incomplete data
12

13. PRECISION MEDICINE: DRIVING NOVEL INSIGHTS
“-Omics”
Data
Pre-Clinical /
Clinical Data
Dose Response
Data
Sociodemographic
Data
Behavioral
Data
Real World
Evidence Data
Link Inference Community Finding
Clustering
Correlation Analysis Probabilistic Models Centrality Analysis
Analytics
Meaningful
and
Actionable
Insights
Combining prior
knowledge with new
findings.
Predictive analysis
with insight on
uncertainty
Characterize relative
importance of nodes and
their connections.
Effective for identifying
key genetic factors in
correlation networks
Organize data into
relational groups, or
clusters Identifying
number and type of
clusters existing in
the data
Data
Sources
Measure strength of
nonlinear
relationships among
multiple variables
Discover
associations
between data niches
from indirect
evidence
Examine tight-
knit ”communities” of
data nodes
within complex
networks
13
Discovery
Lead Identification
Real World Data
Product Registries
Phase IV
Commercial
Dose Response
Drug Interaction
Patient Subgroups
Phase I – II
Development
New Targets
New Therapies
New Biomarkers
Protocol Design
Trial Optimization
Responders
Non-responders
Phase III
Development

14. Relational Networks
14
Analytical Results:
Identification of multi-variate signature:
• Genetic Variants
(Biomarkers - SNPs)
• Physiological Biomarkers
(Drug Clearance)
• Categorical Correlates
(e.g., CT site)
• Outliers
(lower correlation)

15. Key Near-Term Objectives
15
1.Activate full commercial capabilities and aggressively pursue
business opportunities
2.Expand and ramp technical team – execution and generate
collateral
3.Promote company and generate strong market awareness –
investors and biopharma
4.Pursue strategic partners for R&D programs

16. What can BullFrog AI and our partners achieve together?
• De-risking discovery toward preclinical studies
• De-risking early R&D toward first-in-human clinical trials
• De-risking later R&D toward pivotal/ late-stage clinical trials
• Rescue and/or repositioning of failed Phase III assets
✓ More lives saved
✓ Enhanced patient Quality-of-Life
✓ Significant increases in asset values
16

17. Contact
Vin Singh – Founder, CEO
Email: vin@bullfrogai.com
Phone: 301-367-2055
Investor Relations Contact
Dave Gentry
(407)-491-4498
1-800-RED-CHIP
BFRG@redchip.com
Nasdaq: BFRG