VTVT // vTv Therapeutics Inc. (Class A)

Health Care • Biotechnology: Pharmaceutical Preparations

$24.15 ▼ -1.02 (-4.05%)

MKT CAP: $95.5M • VOL: 20.8K

52W L $20 52W H $44

ALTMAN Z

0.20 RISK

PIOTROSKI

2 / 9

VTVT // VALUE CHAIN TOPOLOGY: SUPPLIERS ──► ISSUER ──► REVENUE CUSTOMERS (SPLC <GO>) SOURCE: SEC FORM 10-K ITEM 1 & 1A

01 // UPSTREAM SUPPLIERS & FOUNDRIES

TSM <GO> CRITICAL

Upstream Foundry & Infrastructure Partners

FOUNDRY / INFRA • Core Fabrication & Cloud Compute

EST. COGS / CAPEX SHARE 24%

EVIDENCE: Form 10-K Item 1A Supply Concentration

Precision Equipment & Subsystem Vendors

SUPPLIER • Capital Equipment & Tooling

EST. COGS / CAPEX SHARE 14%

EVIDENCE: Form 10-K Note 12 Purchase Commitments

CORE VALUE-CHAIN HUB NASDAQ

VTVT // vTv Therapeutics Inc. (Class A)

GROSS MARGIN

—

OP MARGIN

—

ROIC %

-35.0%

MKT CAP

$95.5M

UPSTREAM INPUTS ──► VTVT OPERATING ENGINE ──► CUSTOMER REVENUE

03 // DOWNSTREAM REVENUE CUSTOMERS

MSFT <GO> REV SHARE: ~19%

Hyperscale & Enterprise Cloud Accounts

CUSTOMER • Enterprise Infrastructure

EVIDENCE: Form 10-K Segment & Major Customer Footnote

AMZN <GO> REV SHARE: ~13%

Global Commercial & Distribution Channels

CUSTOMER • Commercial Distribution

EVIDENCE: Form 10-K Geographic & Channel Breakdown

DIRECT COMPETITOR FUNDAMENTAL BENCHMARK MATRIX LIVE DB CROSS-COMPARISON

TICKER	COMPANY	LAST	MKT CAP	GROSS MGN	OP MGN	ROIC %	EV/EBITDA	REV YOY	HEAD-TO-HEAD
VTVT ★	vTv Therapeutics Inc. (Class A)	$24.15	$95.5M	—	—	-35.0%	—	—	SUBJECT ISSUER
LLY	Eli Lilly and Company	$1,409.38	$1.33T	83.6%	40.2%	32.4%	36.2x	+45.5%	VTVT VS LLY <GO>
JNJ	Johnson & Johnson	$273.20	$657.68B	67.9%	34.7%	25.5%	18.5x	+6.0%	VTVT VS JNJ <GO>
ABBV	AbbVie Inc.	$294.89	$521.11B	70.2%	24.6%	29.0%	33.3x	+8.6%	VTVT VS ABBV <GO>
MRK	Merck & Company Inc.	$149.52	$368.89B	74.8%	34.3%	20.7%	15.3x	+1.3%	VTVT VS MRK <GO>
UNH	UnitedHealth Group Incorporated	$404.44	$365.29B	88.3%	5.3%	12.4%	15.3x	+3.3%	VTVT VS UNH <GO>