The document summarizes an annual general meeting for Summit PLC held on July 18, 2012. It discusses Summit's focus on key drug development programs, including SMT C1100 for Duchenne Muscular Dystrophy, SMT 19969 for Clostridium difficile infection, and developing inhibitors of OGA for tauopathies like Alzheimer's disease. It outlines upcoming milestones for these programs within the next 12 months and an outlook that achieving these milestones could lead to commercial deals and significant value growth for the company.

1. Annual General Meeting
18 July 2012

2. Legal Disclaimer
FORWARD-LOOKING STATEMENTS
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2 | Annual General Meeting | 18 July 2012 www.summitplc.com

3. Focus on Key Programmes
SMT C1100
Duchenne Muscular Dystrophy
SMT 19969
Clostridium difficile Infection
Tauopathies
Alzheimer’s disease & other rare dementias
• Immediate priority is the development of leading programmes
through to important development milestone over the next 12 months
3 | Annual General Meeting | 18 July 2012 www.summitplc.com

4. SMT C1100
Duchenne Muscular Dystrophy
Disease modifying drug with >$1bn p.a. sales potential
Utrophin • Dystrophin replaced with naturally occurring protein called utrophin
upregulator • Restores and maintains healthy muscle function in non-clinical efficacy studies
Competitive • Only disease modifying drug candidate in clinical trials to benefit all patients
advantage • Oral administration
De-risked • $1.5m agreement with US organisations to fund Phase I clinical trial
development • Independent due diligence endorses scientific approach
Orphan
• Designated as orphan drug status in Europe and the US
drug
• Phase I trial initiated in May 2012
Status
• Results expected by the end of 2012
4 | Annual General Meeting | 18 July 2012 www.summitplc.com

5. SMT 19969
Clostridium difficile Infection
► Phase 1 ready antibiotic programme for the treatment of CDI
► Front-line treatment for initial infection & prevention of recurrent disease
► Excellent profile in all key differentiating areas:
Summary Profile SMT19969 Comments
Potent C. difficile growth inhibitor Active against all ribotypes
Extremely narrow spectrum of activity No impact on human gut flora
Very low propensity for resistance development Extends clinical utility
Oral delivery Twice daily dosing likely
Retained in GI tract No systemic exposure
Excellent safety profile No in vivo toxicity issues
► Phase I human trials expected to start in H2 2012
5 | Annual General Meeting | 18 July 2012 www.summitplc.com

6. Tauopathies
Alzheimer’s disease & other rare dementias
• Neurodegenerative diseases characterised by the formation in the brain of
neurofibrillary tangles
• Inhibition of the enzyme OGA has emerged as a drug target by preventing
formation of the NFTs through reduction in tau phosphorylation
• Summit is developing potent, selective OGA inhibitors using Seglin™ technology
• Encouraging in vivo and in vitro data shows:
– In vitro efficacy in human cell disease models
– Able to penetrate through the blood brain barrier into the central nervous system
– Reduction in tau phosphorylation in in vivo studies
• Further development and evaluation of OGA inhibitors on-going to establish in vivo
proof of concept and identify a lead candidate
6 | Annual General Meeting | 18 July 2012 www.summitplc.com

7. Outlook
• Opportunity to achieve key development milestones in lead programmes
within the next 12 months
– Completion of Phase I trial in DMD
– Completion of Phase I clinical trial in C. difficile programme
– Advance OGA / tauopathies programme through to in vivo proof of concept
• Achieving these milestones is expected to act as a catalyst for realising
the value of programme assets through a commercial deal
• Potential for significant near-term value growth from current market cap
7 | Annual General Meeting | 18 July 2012 www.summitplc.com