$Passage Bio(PASG)$ $PASG$ Reports Fourth Quarter and Full-Year 2020 Financial Results and Recent Business Highlights

- On track to initiate three Phase 1/2 clinical programs in the first half of 2021: PBGM01 for GM1 gangliosidosis (GM1), PBFT02 for frontotemporal dementia with granulin mutations, and PBKR03 for Krabbe disease -

- Opened first U.S. site for PBGM01’s Imagine-1 global clinical program and actively recruiting patients; other site activations in progress -

- Opening new CMC research and development site to support analytics, assay development, and product testing in 2Q 2021 -

- Strengthened financial position with recent public offering that raised $166M in net proceeds -

Cash Position: $ 470.8 M

Anticipated Upcoming Milestones

Dose the first patient in the global Phase 1/2 trial for PBGM01, Imagine-1, for the treatment of infantile GM1 in the first quarter of 2021. Report initial 30-day safety and biomarker data mid-year 2021.

Open CMC research and development site in Hopewell, NJ, in the second quarter of 2021.

Initiate Phase 1/2 trial for PBKR03 for the treatment of early infantile Krabbe disease in the first half of 2021. Report initial 30-day safety and biomarker data in late 2021 or early 2022.

Initiate Phase 1/2 trial for PBFT02 for the treatment of FTD-GRN in the first half of 2021. Report initial 30-day safety and biomarker data in late 2021 or early 2022.

Continue to advance preclinical programs for PBML04 (Metachromatic leukodystrophy), PBAL05 (Amyotrophic lateral sclerosis) and PBCM06 (Charcot-Marie-Tooth Disease Type 2A), and an undisclosed adult CNS program.