Dear Stockholders

Dear Stockholders,

As you may have seen, yesterday we announced that we will be presenting at the Rodman & Renshaw 19th Annual Global Investment Conference next Monday September 11th at 10:00 a.m. Eastern Time. For those of you unable to attend the conference in person, you may listen to a live webcast on the Investors section of our website here: savarapharma.com/investors/events-presentations/. Savara has been actively engaging with the investment and analyst communities over the summer and our upcoming presentation at the Rodman & Renshaw Conference and other notable conferences are key to our overall strategy of increasing our visibility.

We are also very pleased to announce that we have engaged the Trout Group, the leading global investor relations and strategic advisory firm servicing the life sciences industry, to augment our own internal investor relations efforts. With two decades of experience in the life sciences industry, the Trout Group offers its clients the knowledge base needed to clarify investment themes and leverage key relationships for increased exposure to the proper audience. The firm’s global reach extends through a network of offices in New York, Boston, San Francisco, London, and Shanghai with contacts in all major financial centers, helping clients to connect with the right investors.

We believe the Trout Group will increase Savara’s exposure to the capital markets and will accelerate exposure to the institutional investment community to help generate further interest in Savara. We believe this investor relations program will strengthen our relationships with industry analysts and bolster coverage efforts through investor roadshows, KOL events, and other related activities‎. We believe that Savara has meaningful clinical development milestones for investors to look forward to, and as we continue to progress, we want to increase our exposure to the most sophisticated investor pool possible. With their extensive history in life sciences, we see Trout as very well positioned to facilitate this process.

Concurrently, Savara remains focused on our business and delivering on our stated milestones and goals. We are driven to execute our key programs and our growth strategy to transform Savara into The Orphan Lung Disease Company. We believe that we are building an exceptional business and will continue to grow the company in order to instill confidence in our investors. We believe that the investor-related activities described above, along with the continued progress of our pipeline, will be rewarding to our stockholders.

We sincerely appreciate your continued support and look forward to keeping you updated through our various communication channels including @SavaraPharma, press releases, webcasts and our SEC filings.

Regards,
Rob Neville
CEO


Savara cautions you that statements herein that are not a description of historical fact are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements may be identified by the use of words referencing future events or circumstances such as “expect,” “intend,” “plan,” “anticipate,” “believe,” and “will,” among others. Such statements include, but are not limited to, statements relating to our business opportunity, our investor relations strategy, our progress, our product candidates, our strategy, the timing of milestones and goals for our product candidates and our future successes. Savara may not actually achieve any of the matters referred to in such forward looking statements, and you should not place undue reliance on these forward-looking statements. Because such statements are subject to risks and uncertainties, actual results may differ materially from those expressed or implied by such forward-looking statements. These forward-looking statements are based upon Savara’s current expectations and involve assumptions that may never materialize or may prove to be incorrect. Actual results and the timing of events could differ materially from those anticipated in such forward-looking statements as a result of various risks and uncertainties, which include, without limitation, risks and uncertainties associated with the outcome of ongoing clinical trials for our product candidates, the ability to project future cash utilization and reserves needed for contingent future liabilities and business operations, the availability of sufficient resources for Savara’s operations and to conduct or continue planned clinical development programs, the ability to obtain the necessary patient enrollment for our product candidates in a timely manner, the timing and ability of Savara to raise additional equity capital to fund continued operations; the ability to successfully develop our product candidates, and the risks associated with the process of developing, obtaining regulatory approval for and commercializing drug candidates that are safe and effective for use as human therapeutics. All forward-looking statements are expressly qualified in their entirety by these cautionary statements. For a detailed description of our risks and uncertainties, you are encouraged to review our documents filed with the SEC including our recent filings on Form 8-K, Form 10-Q and Form 10-K. You are cautioned not to place undue reliance on our forward-looking statements herein, which speak only as of September 6, 2017 which is the date on which they were made. Savara undertakes no obligation to update such statements to reflect events that occur or circumstances that exist after such date, except as may be required by law.