Important note to readers Important note to readers The information in this presentation is provided for informational purposes only. The clinical results and other information included in this presentation should not in any way be construed as predictive of the outcome of any future studies, including, without limitation, a repeat of the same or similar studies or any study conducted to assess the effect of Intermezzo ® on study subjects’ ability to drive or to be predictive of the sufficiency of current or future data that may be generated to support FDA approval of Intermezzo ® for its intended indication. To the extent investors may consider such results and the information included on these slides to be predictive of the outcome of any future study or the outcome of FDA review of a re-submitted Intermezzo ® New Drug Application, investors should be aware that the actual results of any future studies may differ materially from those presented herein due to various risks and uncertainties, including, but not limited to, • identical study designs evaluating identical endpoints may produce different study results; • different study designs intended to measure the same or similar endpoints may produce different results; • different studies in different or progressively larger patient populations could reveal more frequent, more severe or additional side effects that were not seen in earlier studies; • the unpredictable nature of clinical trials generally; • whether additional data can be generated from new clinical studies to demonstrate sufficiently to the FDA that Intermezzo ® would not present an unacceptable risk of residual effects, including residual effects that impair next day driving ability; and • FDA decisions on the sufficiency of other data submitted or to be submitted in support of a re-submitted Intermezzo ® NDA to receive approval for its intended indication and any further delays in, and the final form of, any FDA approval of Intermezzo ® . For more information please read the risk factors section in the Transcept Form 10-K filed with the Securities and Exchange Commission. 2 | 
