Filed by Health Sciences Acquisitions Corporation 2

pursuant to Rule 425 under the Securities Act of 1933

and deemed filed pursuant to Rule 14a-12

under the Securities Exchange Act of 1934

 

Subject Company: Health Sciences Acquisitions Corporation 2

Commission File No. 333-266660

Date:  December 1, 2022

 

Bringing medical inn vation to life ƌŝŶŐŝŶŐŵĞĚŝĐĂůŝŶŶ ǀĂƚŝŽŶ  ƚŽůŝĨĞ Orchestra BioMed Corporate Presentation Q4 2022

Important Notice and Disclaimer 2 dŚŝƐŝŶǀĞƐƚŽƌƉƌĞƐĞŶƚĂƚŝŽŶ;ƚŚŝƐ ͞ WƌĞƐĞŶƚĂƚŝŽŶ ͟ ͿŝƐĨŽƌŝŶĨŽƌŵĂƚŝŽŶĂůƉƵƌƉŽƐĞƐŽŶůLJƚŽĂƐƐŝƐƚŝŶƚĞƌĞƐƚĞĚƉĂƌƚŝĞƐŝŶŵĂŬŝŶŐƚŚĞŝƌŽǁŶĞǀĂůƵĂƚŝŽŶǁŝƚŚƌĞƐƉĞĐƚƚŽƚŚĞƉƌŽƉŽƐĞĚ  ďƵ ƐŝŶĞƐƐĐŽŵďŝŶĂƚŝŽŶ;ƚŚĞ ͞ ƵƐŝŶĞƐƐŽŵďŝŶĂƚŝŽŶ ͟ ͿďĞƚǁĞĞŶ,ĞĂůƚŚ ^ĐŝĞŶĐĞƐĐƋƵŝƐŝƚŝŽŶƐŽƌƉŽƌĂƚŝŽŶ Ϯ ; ͞ ,^ Ϯ ͟ ͿĂŶĚKƌĐŚĞƐƚƌĂŝŽDĞĚ͕/ŶĐ͘; ͞ K/K͕ ͟͞ KƌĐŚĞƐƚƌĂ͕ ͟ ŽƌƚŚĞ ͞ ŽŵƉĂŶLJ ͟ ͿĂŶĚĨŽƌŶŽŽƚŚĞƌƉƵƌƉŽƐĞ͘dŚĞŝŶĨŽƌŵĂƚŝŽŶĐŽŶƚĂŝŶĞĚŚĞƌĞŝŶĚŽĞƐŶŽƚƉƵƌƉŽƌƚƚŽďĞĂůů Ͳ ŝŶĐůƵƐŝǀĞĂŶĚŶŽŶĞŽĨ,^ Ϯ ͕ƚŚĞ ŽŵƉĂŶLJŽƌƚŚĞŝƌƌĞƐƉĞĐƚŝǀĞĂĨĨŝůŝĂƚĞƐŵĂŬĞƐĂŶLJƌĞƉƌĞƐĞŶƚĂƚŝŽŶŽƌǁĂƌƌĂŶƚLJ͕ĞdžƉƌĞƐƐŽƌŝŵƉůŝĞĚ͕ĂƐƚŽƚŚĞĂĐĐƵƌĂĐLJ͕ĐŽŵƉůĞƚĞ ŶĞƐ ƐŽƌƌĞůŝĂďŝůŝƚLJŽĨƚŚĞŝŶĨŽƌŵĂƚŝŽŶĐŽŶƚĂŝŶĞĚŝŶƚŚŝƐWƌĞƐĞŶƚĂƚŝŽŶ͘EĞŝƚŚĞƌƚŚĞŽŵƉĂŶLJŶŽƌ,^ Ϯ ŚĂƐǀĞƌŝĨŝĞĚ͕ ŽƌǁŝůůǀĞƌŝĨLJ͕ĂŶLJƉĂƌƚŽĨƚŚŝƐWƌĞƐĞŶƚĂƚŝŽŶ͘dŚĞƌĞĐŝƉŝĞŶƚƐŚŽƵůĚŵĂŬĞŝƚƐŽǁŶŝŶĚĞƉĞŶĚĞŶƚŝŶǀĞƐƚŝŐĂƚŝŽŶƐĂŶĚĂŶĂůLJƐĞƐŽĨƚ ŚĞ ŽŵƉĂŶLJĂŶĚŝƚƐŽǁŶĂƐƐĞƐƐŵĞŶƚŽĨĂůůŝŶĨŽƌŵĂƚŝŽŶĂŶĚŵĂƚĞƌŝĂůƉƌŽǀŝĚĞĚ͕ŽƌŵĂĚĞĂǀĂŝůĂďůĞ͕ďLJƚŚĞŽŵƉĂŶLJ͕ ,^ Ϯ ŽƌĂŶLJŽĨƚŚĞŝƌƌĞƐƉĞĐƚŝǀĞĚŝƌĞĐƚŽƌƐ͕ŽĨĨŝĐĞƌƐ͕ĞŵƉůŽLJĞĞƐ͕ĂĨĨŝůŝĂƚĞƐ͕ĂŐĞŶƚƐ͕ĂĚǀŝƐŽƌƐŽƌƌĞƉƌĞƐĞŶƚĂƚŝǀĞƐ͘ dŚŝƐWƌĞƐĞŶƚĂƚŝŽŶĚŽĞƐŶŽƚĐŽŶƐƚŝƚƵƚĞ; ŝ ͿĂƐŽůŝĐŝƚĂƚŝŽŶŽĨĂƉƌŽdžLJ͕ĐŽŶƐĞŶƚŽƌĂƵƚŚŽƌŝnjĂƚŝŽŶǁŝƚŚƌĞƐƉĞĐƚƚŽĂŶLJƐĞĐƵƌŝƚŝĞƐŽƌŝŶƌĞƐƉĞĐƚŽĨƚŚĞƉƌŽƉŽƐĞĚƵƐŝŶĞƐƐ Žŵď ŝŶĂƚŝŽŶŽƌ;ŝŝͿĂŶŽĨĨĞƌƚŽƐĞůů͕ĂƐŽůŝĐŝƚĂƚŝŽŶŽĨĂŶŽĨĨĞƌƚŽďƵLJ͕ŽƌĂ ƌĞĐŽŵŵĞŶĚĂƚŝŽŶƚŽƉƵƌĐŚĂƐĞĂŶLJƐĞĐƵƌŝƚLJŽĨ,^ Ϯ ͕ƚŚĞŽŵƉĂŶLJ͕ŽƌĂŶLJŽĨƚŚĞŝƌƌĞƐƉĞĐƚŝǀĞĂĨĨŝůŝĂƚĞƐ͕ŶŽƌƐŚĂůůƚŚĞƌĞďĞĂŶLJƐĂůĞŽĨƐĞĐƵƌŝƚŝĞƐŝŶĂŶLJũƵƌŝƐĚŝĐƚŝŽŶŝŶǁŚŝĐŚ ƐƵĐ ŚŽĨĨĞƌ͕ƐŽůŝĐŝƚĂƚŝŽŶŽƌƐĂůĞǁŽƵůĚďĞƵŶůĂǁĨƵůƉƌŝŽƌƚŽƌĞŐŝƐƚƌĂƚŝŽŶ ŽƌƋƵĂůŝĨŝĐĂƚŝŽŶƵŶĚĞƌƚŚĞƐĞĐƵƌŝƚŝĞƐůĂǁƐŽĨĂŶLJƐƵĐŚũƵƌŝƐĚŝĐƚŝŽŶ͘EŽŽĨĨĞƌŝŶŐŽĨƐĞĐƵƌŝƚŝĞƐƐŚĂůůďĞŵĂĚĞĞdžƉĞĐƚďLJŵĞĂŶƐ ŽĨ ĂƉƌŽƐƉĞĐƚƵƐŵĞĞƚŝŶŐƚŚĞƌĞƋƵŝƌĞŵĞŶƚƐŽĨƚŚĞh͘^͘^ĞĐƵƌŝƚŝĞƐĐƚŽĨ ϭϵϯϯ ͕ĂƐĂŵĞŶĚĞĚ;ƚŚĞ ͞ ^ĞĐƵƌŝƚŝĞƐĐƚ ͟ Ϳ͘zŽƵ ƐŚŽƵůĚŶŽƚĐŽŶƐƚƌƵĞƚŚĞĐŽŶƚĞŶƚƐŽĨƚŚŝƐWƌĞƐĞŶƚĂƚŝŽŶĂƐůĞŐĂů͕ƚĂdž͕ĂĐĐŽƵŶƚŝŶŐŽƌŝŶǀĞƐƚŵĞŶƚĂĚǀŝĐĞŽƌĂƌĞĐŽŵŵĞŶĚĂƚŝŽŶ͘zŽƵ  ƐŚ ŽƵůĚĐŽŶƐƵůƚLJŽƵƌŽǁŶĐŽƵŶƐĞůĂŶĚƚĂdžĂŶĚĨŝŶĂŶĐŝĂůĂĚǀŝƐŽƌƐĂƐƚŽůĞŐĂůĂŶĚƌĞůĂƚĞĚŵĂƚƚĞƌƐĐŽŶĐĞƌŶŝŶŐƚŚĞ ŵĂƚƚĞƌƐĚĞƐĐƌŝďĞĚŚĞƌĞŝŶ͕ĂŶĚ͕ďLJĂĐĐĞƉƚŝŶŐƚŚŝƐWƌĞƐĞŶƚĂƚŝŽŶ͕LJŽƵĐŽŶĨŝƌŵƚŚĂƚLJŽƵĂƌĞŶŽƚƌĞůLJŝŶŐƵƉŽŶƚŚĞŝŶĨŽƌŵĂƚŝŽŶĐŽŶƚ ĂŝŶ ĞĚŚĞƌĞŝŶƚŽŵĂŬĞĂŶLJĚĞĐŝƐŝŽŶ͘ dŚĞĚŝƐƚƌŝďƵƚŝŽŶŽĨƚŚŝƐWƌĞƐĞŶƚĂƚŝŽŶŵĂLJĂůƐŽďĞƌĞƐƚƌŝĐƚĞĚďLJůĂǁĂŶĚƉĞƌƐŽŶƐŝŶƚŽǁŚŽƐĞƉŽƐƐĞƐƐŝŽŶƚŚŝƐWƌĞƐĞŶƚĂƚŝŽŶĐŽŵĞƐ  ƐŚ ŽƵůĚŝŶĨŽƌŵƚŚĞŵƐĞůǀĞƐĂďŽƵƚĂŶĚŽďƐĞƌǀĞĂŶLJƐƵĐŚƌĞƐƚƌŝĐƚŝŽŶƐ͘dŚĞƌĞĐŝƉŝĞŶƚĂĐŬŶŽǁůĞĚŐĞƐƚŚĂƚŝƚŝƐ;ĂͿĂǁĂƌĞ ƚŚĂƚƚŚĞh͘^ƐĞĐƵƌŝƚŝĞƐůĂǁƐƉƌŽŚŝďŝƚĂŶLJƉĞƌƐŽŶǁŚŽŚĂƐŵĂƚĞƌŝĂů͕ŶŽŶ Ͳ ƉƵďůŝĐŝŶĨŽƌŵĂƚŝŽŶĐŽŶĐĞƌŶŝŶŐĂĐŽŵƉĂŶLJĨƌŽŵƉƵƌĐŚĂƐŝŶŐŽ ƌƐĞůůŝŶŐƐĞĐƵƌŝƚŝĞƐŽĨƐƵĐŚĐŽŵƉĂŶLJŽƌĨƌŽŵĐŽŵŵƵŶŝĐĂƚŝŶŐƐƵĐŚŝŶĨŽƌŵĂƚŝŽŶƚŽĂŶLJŽƚŚĞƌƉĞƌƐŽŶƵŶĚĞƌ ĐŝƌĐƵŵƐƚĂŶĐĞƐŝŶǁŚŝĐŚŝƚŝƐƌĞĂƐŽŶĂďůLJĨŽƌĞƐĞĞĂďůĞƚŚĂƚƐƵĐŚƉĞƌƐŽŶŝƐůŝŬĞůLJƚŽƉƵƌĐŚĂƐĞŽƌƐĞůůƐƵĐŚƐĞĐƵƌŝƚŝĞƐ͕ĂŶĚ;ďͿĨ Ăŵŝ ůŝĂƌǁŝƚŚƚŚĞ^ĞĐƵƌŝƚŝĞƐdžĐŚĂŶŐĞĐƚŽĨ ϭϵϯϰ ͕ĂƐĂŵĞŶĚĞĚ͕ĂŶĚƚŚĞƌƵůĞƐĂŶĚƌĞŐƵůĂƚŝŽŶƐƉƌŽŵƵůŐĂƚĞĚƚŚĞƌĞƵŶĚĞƌ ;ĐŽůůĞĐƚŝǀĞůLJ͕ƚŚĞΗdžĐŚĂŶŐĞĐƚΗͿ͕ĂŶĚƚŚĂƚƚŚĞƌĞĐŝƉŝĞŶƚǁŝůůŶĞŝƚŚĞƌƵƐĞ͕ŶŽƌĐĂƵƐĞĂŶLJƚŚŝƌĚƉĂƌƚLJƚŽƵƐĞ͕ƚŚŝƐWƌĞƐĞŶƚĂƚ ŝŽŶ  ŽƌĂŶLJŝŶĨŽƌŵĂƚŝŽŶĐŽŶƚĂŝŶĞĚŚĞƌĞŝŶŝŶĐŽŶƚƌĂǀĞŶƚŝŽŶŽĨƚŚĞdžĐŚĂŶŐĞĐƚ͕ŝŶĐůƵĚŝŶŐ͕ǁŝƚŚŽƵƚůŝŵŝƚĂƚŝŽŶ͕ZƵůĞ ϭϬ ď Ͳ ϱ ƚŚĞƌĞƵŶĚĞƌ͘ dŚŝƐWƌĞƐĞŶƚĂƚŝŽŶĂŶĚŝŶĨŽƌŵĂƚŝŽŶĐŽŶƚĂŝŶĞĚŚĞƌĞŝŶĐŽŶƐƚŝƚƵƚĞƐĐŽŶĨŝĚĞŶƚŝĂůŝŶĨŽƌŵĂƚŝŽŶĂŶĚŝƐƉƌŽǀŝĚĞĚƚŽLJŽƵŽŶƚŚĞĐŽŶĚŝƚŝ ŽŶ ƚŚĂƚLJŽƵĂŐƌĞĞƚŚĂƚLJŽƵǁŝůůŚŽůĚŝƚŝŶƐƚƌŝĐƚĐŽŶĨŝĚĞŶĐĞĂŶĚŶŽƚƌĞƉƌŽĚƵĐĞ͕ĚŝƐĐůŽƐĞ͕ĨŽƌǁĂƌĚŽƌĚŝƐƚƌŝďƵƚĞŝƚŝŶ ǁŚŽůĞŽƌŝŶƉĂƌƚǁŝƚŚŽƵƚƚŚĞƉƌŝŽƌǁƌŝƚƚĞŶĐŽŶƐĞŶƚŽĨ,^ Ϯ ĂŶĚƚŚĞŽŵƉĂŶLJĂŶĚŝƐŝŶƚĞŶĚĞĚĨŽƌƚŚĞƌĞĐŝƉŝĞŶƚŚĞƌĞŽĨŽŶůLJ͘ &ŽƌǁĂƌĚ Ͳ >ŽŽŬŝŶŐ^ƚĂƚĞŵĞŶƚƐ dŚŝƐWƌĞƐĞŶƚĂƚŝŽŶŵĂLJĐŽŶƚĂŝŶĨŽƌǁĂƌĚ Ͳ ůŽŽŬŝŶŐƐƚĂƚĞŵĞŶƚƐ͘&ŽƌǁĂƌĚ Ͳ ůŽŽŬŝŶŐƐƚĂƚĞŵĞŶƚƐŝŶĐůƵĚĞ͕ǁŝƚŚŽƵƚůŝŵŝƚĂƚŝŽŶ͕ƐƚĂƚĞŵĞŶƚƐƌĞŐ ĂƌĚŝŶŐƚŚĞĞƐƚŝŵĂƚĞĚĨƵƚƵƌĞĨŝŶĂŶĐŝĂůƉĞƌĨŽƌŵĂŶĐĞĂŶĚĨŝŶĂŶĐŝĂůƉŽƐŝƚŝŽŶŽĨƚŚĞŽŵƉĂŶLJ͘&ƵƚƵƌĞƌĞƐƵůƚƐĂƌĞ ŶŽƚƉŽƐƐŝďůĞƚŽƉƌĞĚŝĐƚ͘KƉŝŶŝŽŶƐĂŶĚĞƐƚŝŵĂƚĞƐŽĨĨĞƌĞĚŝŶƚŚŝƐWƌĞƐĞŶƚĂƚŝŽŶĐŽŶƐƚŝƚƵƚĞƚŚĞŽŵƉĂŶLJ ͛ ƐũƵĚŐŵĞŶƚĂŶĚĂƌĞƐƵďũĞĐƚƚŽĐŚĂŶŐĞǁŝƚŚŽƵƚŶŽƚŝĐĞ͕ĂƐĂƌĞƐƚĂƚĞŵĞŶƚƐĂďŽƵƚŵĂƌŬĞƚƚƌĞŶĚƐ͕ǁŚŝĐŚĂƌĞďĂƐĞĚŽŶĐƵƌƌĞŶƚŵĂƌŬĞƚ  ĐŽ ŶĚŝƚŝŽŶƐ͘ dŚŝƐWƌĞƐĞŶƚĂƚŝŽŶĐŽŶƚĂŝŶƐĨŽƌǁĂƌĚ Ͳ ůŽŽŬŝŶŐƐƚĂƚĞŵĞŶƚƐ͕ŝŶĐůƵĚŝŶŐǁŝƚŚŽƵƚůŝŵŝƚĂƚŝŽŶ͕ĨŽƌǁĂƌĚ Ͳ ůŽŽŬŝŶŐƐƚĂƚĞŵĞŶƚƐƚŚĂƚƌĞƉƌĞƐĞŶƚŽ ƉŝŶŝŽŶƐ͕ĞdžƉĞĐƚĂƚŝŽŶƐ͕ďĞůŝĞĨƐ͕ŝŶƚĞŶƚŝŽŶƐ͕ĞƐƚŝŵĂƚĞƐŽƌƐƚƌĂƚĞŐŝĞƐƌĞŐĂƌĚŝŶŐƚŚĞĨƵƚƵƌĞŽĨƚŚĞŽŵƉĂŶLJĂŶĚŝƚƐ ĂĨĨŝůŝĂƚĞƐ͕ǁŚŝĐŚŵĂLJŶŽƚďĞƌĞĂůŝnjĞĚ͘&ŽƌǁĂƌĚ Ͳ ůŽŽŬŝŶŐƐƚĂƚĞŵĞŶƚƐĐĂŶďĞŝĚĞŶƚŝĨŝĞĚďLJƚŚĞǁŽƌĚƐ͕ŝŶĐůƵĚŝŶŐ͕ǁŝƚŚŽƵƚůŝŵŝƚĂƚŝŽŶ͕  ͞ ďĞůŝĞǀĞ͕ ͟͞ ĂŶƚŝĐŝƉĂƚĞ͕ ͟͞ ĐŽŶƚŝŶƵĞ͕ ͟͞ ĞƐƚŝŵĂƚĞ͕ ͟͞ ŵĂLJ͕ ͟͞ ƉƌŽũĞĐƚ͕ ͟͞ ĞdžƉĞĐƚ͕ ͟͞ ƉůĂŶ͕ ͟͞ ƉŽƚĞŶƚŝĂů͕ ͟͞ ƚĂƌŐĞƚ͕ ͟͞ ŝŶƚĞŶĚ͕ ͟ ͞ ƐĞĞŬ͕ ͟͞ ǁŝůů͕ ͟͞ ǁŽƵůĚ͕ ͟͞ ĐŽƵůĚ͕ ͟͞ ƐŚŽƵůĚ͕ ͟͞ ĨŽƌĞĐĂƐƚ͕ ͟ ŽƌƚŚĞŶĞŐĂƚŝǀĞŽƌƉůƵƌĂůŽĨƚŚĞƐĞǁŽƌĚƐ͕ŽƌŽƚŚĞƌƐŝŵŝůĂƌĞdžƉƌĞƐƐŝŽŶƐƚŚĂƚĂƌĞƉƌĞĚŝĐƚŝŽŶƐŽƌŝŶĚŝĐĂƚĞĨƵƚƵƌĞĞǀĞŶƚƐ͕ƚƌĞŶĚƐ  Žƌ  ƉƌŽƐƉĞĐƚƐďƵƚƚŚĞĂďƐĞŶĐĞŽĨƚŚĞƐĞǁŽƌĚƐĚŽĞƐŶŽƚ ŶĞĐĞƐƐĂƌŝůLJŵĞĂŶƚŚĂƚĂƐƚĂƚĞŵĞŶƚŝƐŶŽƚĨŽƌǁĂƌĚ Ͳ ůŽŽŬŝŶŐ͘ŶLJƐƚĂƚĞŵĞŶƚƐƚŚĂƚƌĞĨĞƌƚŽĞdžƉĞĐƚĂƚŝŽŶƐ͕ƉƌŽũĞĐƚŝŽŶƐ͕ŝŶĚŝĐĂƚŝŽŶƐŽĨ ͕ĂŶĚŐƵŝĚĂŶĐĞŽƌŽƵƚůŽŽŬŽŶ͕ĨƵƚƵƌĞĞĂƌŶŝŶŐƐ͕ĚŝǀŝĚĞŶĚƐŽƌĨŝŶĂŶĐŝĂůƉŽƐŝƚŝŽŶŽƌƉĞƌĨŽƌŵĂŶĐĞŽƌŽƚŚĞƌ ĐŚĂƌĂĐƚĞƌŝnjĂƚŝŽŶƐŽĨĨƵƚƵƌĞĞǀĞŶƚƐŽƌĐŝƌĐƵŵƐƚĂŶĐĞƐĂƌĞĂůƐŽĨŽƌǁĂƌĚ Ͳ ůŽŽŬŝŶŐƐƚĂƚĞŵĞŶƚƐ͘ ůůĨŽƌǁĂƌĚ Ͳ ůŽŽŬŝŶŐƐƚĂƚĞŵĞŶƚƐĂƌĞďĂƐĞĚŽŶĞƐƚŝŵĂƚĞƐĂŶĚĂƐƐƵŵƉƚŝŽŶƐƚŚĂƚĂƌĞŝŶŚĞƌĞŶƚůLJƵŶĐĞƌƚĂŝŶĂŶĚƚŚĂƚĐŽƵůĚĐĂƵƐĞĂĐƚƵĂů ƌĞƐƵůƚƐƚŽĚŝĨĨĞƌŵĂƚĞƌŝĂůůLJĨƌŽŵĞdžƉĞĐƚĞĚƌĞƐƵůƚƐ͘DĂŶLJŽĨƚŚĞƐĞĨĂĐƚŽƌƐĂƌĞďĞLJŽŶĚƚŚĞŽŵƉĂŶLJ ͛ ƐĂďŝůŝƚLJƚŽ ĐŽŶƚƌŽůŽƌƉƌĞĚŝĐƚ͘&ĂĐƚŽƌƐƚŚĂƚŵĂLJĐĂƵƐĞĂĐƚƵĂůƌĞƐƵůƚƐƚŽĚŝĨĨĞƌŵĂƚĞƌŝĂůůLJĨƌŽŵĐƵƌƌĞŶƚĞdžƉĞĐƚĂƚŝŽŶƐŝŶĐůƵĚĞ͕ďƵƚĂƌĞŶŽƚ  ůŝ ŵŝƚĞĚƚŽ͗; ϭ ͿƚŚĞŽĐĐƵƌƌĞŶĐĞŽĨĂŶLJĞǀĞŶƚ͕ĐŚĂŶŐĞŽƌŽƚŚĞƌĐŝƌĐƵŵƐƚĂŶĐĞƐƚŚĂƚĐŽƵůĚŐŝǀĞƌŝƐĞƚŽƚŚĞƚĞƌŵŝŶĂƚŝŽŶŽĨ ĂŶLJĚĞĨŝŶŝƚŝǀĞĂŐƌĞĞŵĞŶƚƐǁŝƚŚƌĞƐƉĞĐƚƚŽƚŚĞƵƐŝŶĞƐƐŽŵďŝŶĂƚŝŽŶ͖; Ϯ ͿƚŚĞŽƵƚĐŽŵĞŽĨĂŶLJůĞŐĂůƉƌŽĐĞĞĚŝŶŐƐƚŚĂƚŵĂLJďĞŝŶƐƚŝƚƵƚĞĚĂŐĂŝŶƐƚ,^ Ϯ ͕ƚŚĞĐŽŵďŝŶĞĚĐŽŵƉĂŶLJŽƌŽƚŚĞƌƐĨŽůůŽǁŝŶŐƚŚĞĂŶŶŽƵŶĐĞŵĞŶƚŽĨƚŚĞƵƐŝŶĞƐƐŽŵďŝŶĂƚŝŽŶ ĂŶĚĂŶLJĚĞĨŝŶŝƚŝǀĞĂŐƌĞĞŵĞŶƚƐǁŝƚŚƌĞƐƉĞĐƚƚŚĞƌĞƚŽ͖; ϯ ͿƚŚĞŝŶĂďŝůŝƚLJƚŽĐŽŵƉůĞƚĞƚŚĞƵƐŝŶĞƐƐŽŵďŝŶĂƚŝŽŶĚƵĞƚŽƚŚĞĨĂŝůƵƌĞƚŽŽďƚĂŝŶĂƉƉƌŽǀĂůŽĨƚŚĞƐŚĂƌĞŚŽůĚĞƌƐŽĨ,^ Ϯ ͕ŽƌƚŽƐĂƚŝƐĨLJŽƚŚĞƌĐŽŶĚŝƚŝŽŶƐƚŽĐůŽƐŝŶŐ͖; ϰ ͿĐŚĂŶŐĞƐƚŽƚŚĞ ƉƌŽƉŽƐĞĚƐƚƌƵĐƚƵƌĞŽĨƚŚĞƵƐŝŶĞƐƐŽŵďŝŶĂƚŝŽŶƚŚĂƚŵĂLJďĞƌĞƋƵŝƌĞĚŽƌĂƉƉƌŽƉƌŝĂƚĞĂƐĂƌĞƐƵůƚŽĨĂƉƉůŝĐĂďůĞůĂǁƐŽƌƌĞŐƵůĂƚŝ ŽŶƐ  ŽƌĂƐĂĐŽŶĚŝƚŝŽŶƚŽŽďƚĂŝŶŝŶŐƌĞŐƵůĂƚŽƌLJĂƉƉƌŽǀĂůŽĨƚŚĞƵƐŝŶĞƐƐŽŵďŝŶĂƚŝŽŶ͖; ϱ ͿƚŚĞĂďŝůŝƚLJƚŽŵĞĞƚƐƚŽĐŬ ĞdžĐŚĂŶŐĞůŝƐƚŝŶŐƐƚĂŶĚĂƌĚƐĨŽůůŽǁŝŶŐƚŚĞĐŽŶƐƵŵŵĂƚŝŽŶŽĨƚŚĞƵƐŝŶĞƐƐŽŵďŝŶĂƚŝŽŶ͖; ϲ ͿƚŚĞƌŝƐŬƚŚĂƚƚŚĞƵƐŝŶĞƐƐŽŵďŝŶĂƚŝŽŶĚŝƐƌƵƉƚƐĐƵƌƌĞŶƚƉůĂŶƐĂŶĚŽƉĞƌĂƚŝŽŶƐŽĨƚŚĞŽŵƉĂŶLJĂƐĂƌĞƐƵůƚŽĨƚŚĞĂŶŶŽƵŶĐĞŵĞŶƚ  ĂŶ ĚĐŽŶƐƵŵŵĂƚŝŽŶŽĨ ƚŚĞƵƐŝŶĞƐƐŽŵďŝŶĂƚŝŽŶ͖; ϳ ͿƚŚĞĂďŝůŝƚLJƚŽƌĞĐŽŐŶŝnjĞƚŚĞĂŶƚŝĐŝƉĂƚĞĚďĞŶĞĨŝƚƐŽĨƚŚĞƵƐŝŶĞƐƐŽŵďŝŶĂƚŝŽŶ͕ǁŚŝĐŚŵĂLJďĞĂĨĨĞĐƚĞĚďLJ͕ĂŵŽŶŐŽƚŚĞƌƚŚŝŶŐƐ ͕Đ ŽŵƉĞƚŝƚŝŽŶ͕ƚŚĞĂďŝůŝƚLJŽĨƚŚĞĐŽŵďŝŶĞĚĐŽŵƉĂŶLJƚŽĐŽŵŵĞƌĐŝĂůŝnjĞŝƚƐƉƌŽĚƵĐƚ ĐĂŶĚŝĚĂƚĞƐ͕ŵĂŝŶƚĂŝŶƌĞůĂƚŝŽŶƐŚŝƉƐǁŝƚŚƉŚLJƐŝĐŝĂŶƐĂŶĚƐƵƉƉůŝĞƌƐĂŶĚƌĞƚĂŝŶŝƚƐŵĂŶĂŐĞŵĞŶƚĂŶĚŬĞLJĞŵƉůŽLJĞĞƐ͖; ϴ ͿĐŽƐƚƐƌĞůĂƚĞĚƚŽƚŚĞƵƐŝŶĞƐƐŽŵďŝŶĂƚŝŽŶ͖; ϵ ͿĐŚĂŶŐĞƐŝŶĂƉƉůŝĐĂďůĞůĂǁƐŽƌƌĞŐƵůĂƚŝŽŶƐ͖; ϭϬ ͿƚŚĞƉŽƐƐŝďŝůŝƚLJƚŚĂƚƚŚĞ ŽŵƉĂŶLJŽƌƚŚĞĐŽŵďŝŶĞĚĐŽŵƉĂŶLJŵĂLJďĞĂĚǀĞƌƐĞůLJĂĨĨĞĐƚĞĚďLJŽƚŚĞƌĞĐŽŶŽŵŝĐ͕ďƵƐŝŶĞƐƐ͕ĂŶĚͬŽƌĐŽŵƉĞƚŝƚŝǀĞĨĂĐƚŽƌƐ͖; ϭϭ ͿƚŚĞŽŵƉĂŶLJ ͛ ƐĞƐƚŝŵĂƚĞƐŽĨĞdžƉĞŶƐĞƐĂŶĚƉƌŽĨŝƚĂďŝůŝƚLJ͖; ϭϮ ͿƚŚĞƌŝƐŬƐĂŶĚƵŶĐĞƌƚĂŝŶƚŝĞƐƐĞƚĨŽƌƚŚŽŶƚŚĞƐůŝĚĞƐƚŝƚůĞĚ ͞ ^ƵŵŵĂƌLJŽĨZŝƐŬ&ĂĐƚŽƌƐ ͟ ůŽĐĂƚĞĚŝŶƚŚĞĂƉƉĞŶĚŝdžƚŽƚŚŝƐWƌĞƐĞŶƚĂƚŝŽŶ͖ĂŶĚ; ϭϯ ͿŽƚŚĞƌƌŝƐŬƐĂŶĚƵŶĐĞƌƚĂŝŶƚŝĞƐƐĞƚĨŽƌƚŚŝŶƚŚĞƐĞĐƚŝŽŶƐĞŶƚŝƚůĞĚ ͞ ZŝƐŬ&ĂĐƚŽƌƐ ͟ ĂŶĚ ͞ &ŽƌǁĂƌĚ>ŽŽŬŝŶŐ^ƚĂƚĞŵĞŶƚƐ ͟ ŝŶ,^ Ϯ ͛ ƐŶŶƵĂůZĞƉŽƌƚŽŶ&Žƌŵ ϭϬ Ͳ <ĨŝůĞĚ ǁŝƚŚƚŚĞ^ĞĐƵƌŝƚŝĞƐĂŶĚdžĐŚĂŶŐĞŽŵŵŝƐƐŝŽŶ;ƚŚĞ ͞ ^ ͟ ͿŽŶDĂƌĐŚ ϯϭ ͕ ϮϬϮϮ ͘dŚĞƌĞŵĂLJďĞĂĚĚŝƚŝŽŶĂůƌŝƐŬƐƚŚĂƚŶĞŝƚŚĞƌ,^ Ϯ ŶŽƌƚŚĞŽŵƉĂŶLJƉƌĞƐĞŶƚůLJŬŶŽǁŽƌƚŚĂƚ,^ Ϯ ĂŶĚƚŚĞŽŵƉĂŶLJĐƵƌƌĞŶƚůLJďĞůŝĞǀĞĂƌĞŝŵŵĂƚĞƌŝĂůƚŚĂƚĐŽƵůĚ ĂůƐŽĐĂƵƐĞĂĐƚƵĂůƌĞƐƵůƚƐƚŽĚŝĨĨĞƌĨƌŽŵƚŚŽƐĞĐŽŶƚĂŝŶĞĚŝŶƚŚĞĨŽƌǁĂƌĚ Ͳ ůŽŽŬŝŶŐƐƚĂƚĞŵĞŶƚƐ͘ 

Important Notice and Disclaimer (Cont’d) 3 zŽƵĂƌĞĐĂƵƚŝŽŶĞĚŶŽƚƚŽƉůĂĐĞƵŶĚƵĞƌĞůŝĂŶĐĞƵƉŽŶĂŶLJĨŽƌǁĂƌĚ Ͳ ůŽŽŬŝŶŐƐƚĂƚĞŵĞŶƚƐ͘ŶLJĨŽƌǁĂƌĚ Ͳ ůŽŽŬŝŶŐƐƚĂƚĞŵĞŶƚƐƉĞĂŬƐŽŶůLJĂƐ ŽĨƚŚĞĚĂƚĞŽŶǁŚŝĐŚŝƚǁĂƐŵĂĚĞ͕ďĂƐĞĚŽŶŝŶĨŽƌŵĂƚŝŽŶĂǀĂŝůĂďůĞĂƐŽĨƚŚĞĚĂƚĞŽĨƚŚŝƐWƌĞƐĞŶƚĂƚŝŽŶ͕ĂŶĚƐƵĐŚ ŝŶĨŽƌŵĂƚŝŽŶŵĂLJďĞŝŶĂĐĐƵƌĂƚĞŽƌŝŶĐŽŵƉůĞƚĞ͘dŚĞŽŵƉĂŶLJƵŶĚĞƌƚĂŬĞƐŶŽŽďůŝŐĂƚŝŽŶƚŽƉƵďůŝĐůLJƵƉĚĂƚĞŽƌƌĞǀŝƐĞĂŶLJĨŽƌǁĂƌĚ Ͳ ůŽŽŬŝ ŶŐƐƚĂƚĞŵĞŶƚ͕ǁŚĞƚŚĞƌĂƐĂƌĞƐƵůƚŽĨŶĞǁŝŶĨŽƌŵĂƚŝŽŶ͕ĨƵƚƵƌĞĞǀĞŶƚƐŽƌŽƚŚĞƌǁŝƐĞ͕ĞdžĐĞƉƚĂƐƌĞƋƵŝƌĞĚďLJůĂǁ͘ /ŶĨŽƌŵĂƚŝŽŶƌĞŐĂƌĚŝŶŐƉĞƌĨŽƌŵĂŶĐĞďLJ͕ŽƌďƵƐŝŶĞƐƐĞƐĂƐƐŽĐŝĂƚĞĚǁŝƚŚ͕ŽƵƌŵĂŶĂŐĞŵĞŶƚƚĞĂŵŽƌďƵƐŝŶĞƐƐĞƐĂƐƐŽĐŝĂƚĞĚǁŝƚŚƚŚĞŵŝ ƐƉ ƌĞƐĞŶƚĞĚĨŽƌŝŶĨŽƌŵĂƚŝŽŶĂůƉƵƌƉŽƐĞƐŽŶůLJ͘WĂƐƚƉĞƌĨŽƌŵĂŶĐĞďLJƚŚĞŽŵƉĂŶLJ ͛ ƐŵĂŶĂŐĞŵĞŶƚƚĞĂŵĂŶĚŝƚƐ ĂĨĨŝůŝĂƚĞƐŝƐŶŽƚĂŐƵĂƌĂŶƚĞĞŽĨĨƵƚƵƌĞƉĞƌĨŽƌŵĂŶĐĞ͘dŚĞƌĞĨŽƌĞ͕LJŽƵƐŚŽƵůĚŶŽƚƌĞůLJŽŶƚŚĞŚŝƐƚŽƌŝĐĂůƌĞĐŽƌĚŽĨƚŚĞƉĞƌĨŽƌŵĂŶ ĐĞ ŽĨƚŚĞŽŵƉĂŶLJ ͛ ƐŵĂŶĂŐĞŵĞŶƚƚĞĂŵŽƌďƵƐŝŶĞƐƐĞƐĂƐƐŽĐŝĂƚĞĚǁŝƚŚƚŚĞŵĂƐŝŶĚŝĐĂƚŝǀĞŽĨƚŚĞŽŵƉĂŶLJ ͛ ƐĨƵƚƵƌĞ ƉĞƌĨŽƌŵĂŶĐĞŽĨĂŶŝŶǀĞƐƚŵĞŶƚŽƌƚŚĞƌĞƚƵƌŶƐƚŚĞŽŵƉĂŶLJǁŝůů͕ŽƌŝƐůŝŬĞůLJƚŽ͕ŐĞŶĞƌĂƚĞŐŽŝŶŐĨŽƌǁĂƌĚ͘ /ŶĚƵƐƚƌLJĂŶĚDĂƌŬĞƚĂƚĂ /ŶƚŚŝƐWƌĞƐĞŶƚĂƚŝŽŶ͕ƚŚĞŽŵƉĂŶLJŵĂLJƌĞůLJŽŶĂŶĚƌĞĨĞƌƚŽĐĞƌƚĂŝŶŝŶĨŽƌŵĂƚŝŽŶĂŶĚƐƚĂƚŝƐƚŝĐƐŽďƚĂŝŶĞĚĨƌŽŵƚŚŝƌĚ Ͳ ƉĂƌƚLJƐŽƵƌĐĞƐ ǁŚŝĐŚƚŚĞLJďĞůŝĞǀĞƚŽďĞƌĞůŝĂďůĞ͘dŚĞŽŵƉĂŶLJŚĂƐŶŽƚŝŶĚĞƉĞŶĚĞŶƚůLJǀĞƌŝĨŝĞĚƚŚĞĂĐĐƵƌĂĐLJŽƌĐŽŵƉůĞƚĞŶĞƐƐŽĨ ĂŶLJƐƵĐŚƚŚŝƌĚ Ͳ ƉĂƌƚLJŝŶĨŽƌŵĂƚŝŽŶ͘EŽƌĞƉƌĞƐĞŶƚĂƚŝŽŶŝƐŵĂĚĞĂƐƚŽƚŚĞƌĞĂƐŽŶĂďůĞŶĞƐƐŽĨƚŚĞĂƐƐƵŵƉƚŝŽŶƐŵĂĚĞǁŝƚŚŝŶŽƌƚŚĞĂĐĐƵƌ ĂĐLJŽƌĐŽŵƉůĞƚĞŶĞƐƐŽĨĂŶLJƐƵĐŚƚŚŝƌĚ Ͳ ƉĂƌƚLJŝŶĨŽƌŵĂƚŝŽŶ͘ dƌĂĚĞŵĂƌŬƐ ,^ Ϯ ĂŶĚƚŚĞŽŵƉĂŶLJŽǁŶŽƌŚĂǀĞƌŝŐŚƚƐƚŽǀĂƌŝŽƵƐƚƌĂĚĞŵĂƌŬƐ͕ƐĞƌǀŝĐĞŵĂƌŬƐĂŶĚƚƌĂĚĞŶĂŵĞƐƚŚĂƚƚŚĞLJƵƐĞŝŶĐŽŶŶĞĐƚŝŽŶǁŝƚŚƚŚĞ ŽƉĞ ƌĂƚŝŽŶŽĨƚŚĞŝƌƌĞƐƉĞĐƚŝǀĞďƵƐŝŶĞƐƐĞƐ͘dŚŝƐWƌĞƐĞŶƚĂƚŝŽŶŵĂLJĂůƐŽĐŽŶƚĂŝŶƚƌĂĚĞŵĂƌŬƐ͕ƐĞƌǀŝĐĞŵĂƌŬƐ͕ ƚƌĂĚĞŶĂŵĞƐĂŶĚĐŽƉLJƌŝŐŚƚƐŽĨƚŚŝƌĚƉĂƌƚŝĞƐ͕ǁŚŝĐŚĂƌĞƚŚĞƉƌŽƉĞƌƚLJŽĨƚŚĞŝƌƌĞƐƉĞĐƚŝǀĞŽǁŶĞƌƐ͘dŚĞƵƐĞŽƌĚŝƐƉůĂLJŽĨƚŚŝƌĚƉ Ăƌƚ ŝĞƐ ͛ ƚƌĂĚĞŵĂƌŬƐ͕ƐĞƌǀŝĐĞŵĂƌŬƐ͕ƚƌĂĚĞŶĂŵĞƐŽƌƉƌŽĚƵĐƚƐŝŶƚŚŝƐWƌĞƐĞŶƚĂƚŝŽŶŝƐŶŽƚŝŶƚĞŶĚĞĚƚŽ͕ĂŶĚĚŽĞƐŶŽƚŝŵƉůLJ͕ ĂƌĞůĂƚŝŽŶƐŚŝƉǁŝƚŚ,^ Ϯ ŽƌƚŚĞŽŵƉĂŶLJ͕ŽƌĂŶĞŶĚŽƌƐĞŵĞŶƚŽƌƐƉŽŶƐŽƌƐŚŝƉďLJŽƌŽĨ,^ Ϯ ŽƌƚŚĞŽŵƉĂŶLJ͘^ŽůĞůLJĨŽƌĐŽŶǀĞŶŝĞŶĐĞ͕ƚŚĞƚƌĂĚĞŵĂƌŬƐ͕ƐĞƌǀŝĐĞŵĂƌŬƐ͕ƚƌĂĚĞŶĂŵĞƐĂŶĚĐŽƉLJƌŝŐŚƚƐƌĞĨĞƌƌĞĚƚŽŝŶƚŚŝƐWƌĞƐĞŶƚ Ăƚŝ 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Orchestra BioMed Executive Summary Strategic collaboration Medtronic Double - digit revenue share ^ƚƌŽŶŐďĂůĂŶĐĞƐŚĞĞƚǁŝƚŚĨŝŶĂŶĐŝĂůƌƵŶǁĂLJŝŶƚŽ ϮϬϮϲ ĂŶĚŽƵƚƐƚĂŶĚŝŶŐŝŶǀĞƐƚŽƌƐ Partnership - enabled business model designed to accelerate innovation to patients, drive strong partner and shareholder value, & yield exceptional future profitability Statistically significant double - blind, randomized preliminary trial efficacy data Plan to initiate p ivotal trial H2 2023 ^ƚƌĂƚĞŐŝĐĐŽůůĂďŽƌĂƚŝŽŶ ŽƵďůĞ Ͳ ĚŝŐŝƚƌĞǀĞŶƵĞƐŚĂƌĞ Strong 3 - year multi - center preliminary trial safety and efficacy data Plan to initiate pivotal trial H1 2023 4 ĂĐŬĞĂƚ  Ed Ρ  ƚĂƌŐĞƚƐхΨ ϭϬ  ĂŶŶƵĂůŚLJƉĞƌƚĞŶƐŝŽŶŵĂƌŬĞƚƐ &ŝƌŵǁĂƌĞƵƉŐƌĂĚĞƚŽĞdžŝƐƚŝŶŐ ƉĂĐĞŵĂŬĞƌ Virtue® SAB targets >$3B annual artery disease markets Protected sirolimus delivery, non - coated balloon DĞĚƚƌŽŶŝĐ

Transaction Overview 5 Transaction Summary • Orchestra BioMed and Health Sciences Acquisitions Corporation 2 (“HSAC2”, Nasdaq: HSAQ) have entered into a definitive busine ss combination agreement - HSAC2 is a special purpose acquisition company sponsored by an affiliate of RTW Investments, LP - Upon closing, HSAC2 will change its name to “Orchestra BioMed Holdings, Inc.” and is expected to trade under ticker “OBIO” - Transaction expected to close Q1 2023 - Post transaction implied pro forma fully diluted equity value of $317 million and pro forma fully diluted enterprise value of $173 million 1 Cash in Trust / Backstop • Deal provides $70 million in additional gross cash to the combined company 2 - RTW is providing up to a $50 million commitment to backstop the trust - $20 million in total forward purchase agreements from Medtronic and funds managed by RTW ("RTW Funds") Orchestra Shareholders’ Earnout • 8M shares subject to milestones being achieved - 50% at 20 - day VWAP of $15.00/share and 50% at 20 - day VWAP of $20.00/share - Earnout requires an opt - in with an extended lock - up of 12 months Sponsor Shares and Private Placement Warrants • Sponsor and affiliates agreed to defer 1 million (25% of 4 million total) of its sponsor shares, subject to vesting at same m ile stones as Orchestras’ shareholder earnout • Sponsor agreed to extinguish 750,000 (50% of 1.5 million total) of its pre - paid private placement warrants issued at IPO that ha ve an exercise price of $11.50/share Use of Proceeds • Orchestra BioMed expected to have a minimum t otal pro forma cash of $154 million , after expenses, at announcement 1 • The combined company is expected to have sufficient capital into 2026 based on current plans and estimates ϭ ƐƐƵŵĞƐ  ,^ Ϯ  ĂŶĚ  KƌĐŚĞƐƚƌĂ  ĐĂƐŚ  ďĂůĂŶĐĞƐ  ĂƐ  ŽĨ  ^ĞƉƚĞŵďĞƌ  ϯϬ ͕  ϮϬϮϮ ͘ KŶ  :ƵůLJ  ϮϮ ͕  ϮϬϮϮ ͕  ŝŶ  ĐŽŶŶĞĐƚŝŽŶ  ǁŝƚŚ  ƚŚĞ  ǀŽƚĞ  ƚŽ  ĂƉƉƌŽǀĞ  ƚŚĞ  ĞdžƚĞŶƐŝŽŶ  ŽĨ  ,^ Ϯ ͕  ƚŚĞ  ŚŽůĚĞƌƐ  ŽĨ  ϵ ͕ Ϯϯϳ ͕ ϴϴϯ  ƐŚĂƌĞƐ  ĞdžĞƌĐŝƐĞĚ  ƚŚĞŝƌ  ƌŝŐŚƚ  ƚŽ  ƌĞĚĞĞŵ  ƚŚĞŝƌ  ƐŚĂƌĞƐ  ĨŽƌ  ĐĂƐŚ ͘  Ɛ  Ă  ƌĞƐƵůƚ͕  Ăƚ  ĐůŽƐŝŶŐ  ĂƉƉƌŽdžŝŵĂƚĞůLJ  ϮϮϮ ͕ ϯϱϬ  ƐŚĂƌĞƐ  ĂƌĞ  ĞdžƉĞĐƚĞĚ  ƚŽ  ďĞ  ŝƐƐƵĞĚ  ƚŚƌŽƵŐŚ  Ă  W/W  ĨŽƌ  ƚŚĞ  Zdt  &ƵŶĚƐ  ƚŽ  ĨƵůĨŝůů  ƚŚĞŝƌ  ŽďůŝŐĂƚŝŽŶƐ  ƵŶĚĞƌ  ƚŚĞ ďĂĐŬƐƚŽƉ  ĂŐƌĞĞŵĞŶƚ  ŽĨ  Ψ ϳϬ  ŵŝůůŝŽŶ ͘  /Ŷ  ĂĚĚŝƚŝŽŶ͕  ƚŚĞ  Zdt  &ƵŶĚƐ  ƉƵƌĐŚĂƐĞĚ  ϭ ͕ ϬϬϬ ͕ ϬϬϬ  ƐŚĂƌĞƐ  ĨƌŽŵ  ĂŶ  ĂĐĐƌĞĚŝƚĞĚ  ŝŶǀĞƐƚŽƌ  ŝŶ  Ă  ƉƌŝǀĂƚĞůLJ  ŶĞŐŽƚŝĂƚĞĚ  ƚƌĂŶƐĂĐƚŝŽŶ  ŝŶ  ŽƌĚĞƌ  ƚŽ  ĨƵůĨŝůů  ƚŚĞŝƌ  ŽďůŝŐĂƚŝŽŶƐ  ƵŶĚĞƌ  ƚŚĞ  &ŽƌǁĂƌĚ  WƵƌĐŚĂƐĞ  ŐƌĞĞŵĞŶƚ ͘

dĞƌŵƐŽĨdƌĂŶƐĂĐƚŝŽŶ 6 Note : Assumes HSAC 2 and Orchestra cash balances as of September 30 , 2022 . On July 22 , 2022 , in connection with the vote to approve the extension of HSAC 2 , the holders of 9 , 237 , 883 shares exercised their right to redeem their shares for cash . As a result, at closing approximately 222 , 350 shares are expected to be issued through a PIPE for the RTW Funds to fulfill their obligations under the backstop agreement of $ 70 million . In addition, the RTW Funds purchased 1 , 000 , 000 shares from an accredited investor in a privately negotiated transaction in order to fulfill their obligations under the Forward Purchase Agreement . 1. Assumes gross cash of $ 70 million consisting of $ 50 million commitment from RTW and $ 20 million from forward purchase agreements from RTW and Medtronic ; 2. Does not include potential future effect of up to 8 million earnout shares to legacy Orchestra BioMed shareholders that are subject to vesting milestones being achieved ( 50 % at 20 - day VWAP of $ 15 . 00 and 50 % at 20 - day VWAP of $ 20 . 00 , any time in 5 years following SPAC merger closing) ; 3. Does not include potential future effect of up to 1 M deferred sponsor shares vesting that are subject to earnout milestones being achieved as described in footnote 2 . Combination is structured to provide $70 million in additional gross cash to the combined company ϲϳ й 22% 11% Existing Shareholders HSAC2 Public Shareholders HSAC2 Sponsor Sources & Uses Sources Amount Particulars Amount Cash Held in Trust 1 $67,800,000 Share Price $10.00 Backstop Agreement 1 2,200,000 Pro Forma Fully Diluted Shares Outstanding 2 3 31,740,000 Orchestra Fully Diluted Equity 2 3 212,900,000 Pro Forma Fully Diluted Equity Value $317,400,000 HSAC2 Sponsor Shares 34,500,000 (-) Net Trust Cash 1 (56,400,000) Total Sources $317,400,000 (-) Existing Balance Sheet Cash (97,700,000) (+) Debt 10,000,000 Uses Amount Pro Forma Fully Diluted Enterprise Value $173,300,000 Orchestra Fully Diluted Equity $212,900,000 HSAC2 Sponsor Shares 34,500,000 Cash to Balance Sheet 1 56,400,000 Estimated Transaction Expenses 13,600,000 Total Uses $317,400,000 Pro Forma Valuation WƌŽ  &ŽƌŵĂ  ĂƐŝĐ KǁŶĞƌƐŚŝƉ

ŶĂďůĞŶĞǁŐƌŽǁƚŚŽƉƉŽƌƚƵŶŝƚŝĞƐ KƵƚƐŽƵƌĐĞĚĞǀĞůŽƉŵĞŶƚ DŝŶŝŵŝnjĞWΘ>ĚŝůƵƚŝŽŶ 7 Orchestra BioMed’s Partnership - enabled Model Benefits All ĞǀĞůŽƉŵĞŶƚ Strategic Partners Commercialization Improve patient lives Accelerate development Leverage expertise & resources ^ĞĐƵƌĞƐƵďƐƚĂŶƚŝĂůůŽŶŐ Ͳ ƚĞƌŵƌŽLJĂůƚŝĞƐ KƵƚƐŽƵƌĐĞĐŽŵŵĞƌĐŝĂůŝnjĂƚŝŽŶ DƵůƚŝƉůĞƉŝƉĞůŝŶĞŽƉƉŽƌƚƵŶŝƚŝĞƐ  ^ŚĂƌĞĚĞŶĞĨŝƚƐ

George Papandreou S VP, Quality Inessa R. Wheeler VP, Marketing Bob Laughner VP, Regulatory Affairs Stephen A. Zielinski VP, Product Dev., Bioelectronic Therapies Ziv Belsky VP, Research, Bioelectronic Therapies Juan Lorenzo VP, Product Dev., Focal Therapies Bill Baumbach, Ph.D. VP, Scientific Affairs, Focal Therapies Eileen Bailey VP, Quality, Focal Therapies Highly Accomplished Executive Team & Board Executive Team: >250 Years of Experience, ~25 Avg Industry Years, >100 Product Approvals & >600 Authored Patents David Hochman Chairman, CEO, Co - Founder Darren R. Sherman President, COO, Director, Co - Founder DŝĐŚĂĞů <ĂƐǁĂŶ ŚŝĞĨ&ŝŶĂŶĐŝĂůKĨĨŝĐĞƌ ĞŶŶŝƐŽŶŽŚŽĞ͕D͘͘ ŚŝĞĨDĞĚŝĐĂůKĨĨŝĐĞƌ Yuval Mika, Ph.D. GM & CTO, Bioelectronic Therapies Hans - Peter Stoll, M.D., Ph.D. Chief Clinical Officer ϴ Eric S. Fain, M.D. Board Member Eric A. Rose, M.D. Board Member Pamela Connealy Board Member 'ĞŽĨĨƌĞLJt͘^ŵŝƚŚ ŽĂƌĚDĞŵďĞƌ :ĂƐŽŶƌLJĞŚ ŽĂƌĚDĞŵďĞƌ

Product Platforms Target Indications Preclinical Clinical Feasibility Clinical Pivotal Partner Study Sponsor Next Milestones & Expected Timing 6 BackBeat Cardiac Neuromodulation Therapy (CNT Ρ ) Hypertension (HTN) (pacing patients; HTN+P) Medtronic Global Pivotal Study Start H2 2023 High - Risk HTN (non - pacing patients) DĞĚƚƌŽŶŝĐ ZK&E Will Seek to Leverage Data from HTN+P 2 CNT - HF Heart Failure ĐƵƚĞůŝŶŝĐĂůĂƚĂ ϮϬϮϯ WŽƚĞŶƚŝĂůŚƌŽŶŝĐ^ƚƵĚLJ^ƚĂƌƚ ϮϬϮϰ Virtue® Sirolimus AngioInfusion Ρ Balloon (SAB) Coronary In - Stent Restenosis (ISR) US Pivotal Study Start H1 2023 Japan Pivotal Study Start H1 2024 Coronary Small Vessel (SV) 1 Japan Pivotal Study Start H1 2024 US Pivotal Study Start 2024 Below - the - Knee (BTK) 1 Global BTK Study Start 2024/2025 SirolimusEFR Ρ / Microporous Balloon Urethral Strictures & BPH Osteoarthritis Preclinical Development Milestones 2023/2024 Advancing a High - Impact Pipeline 9 FDA Breakthrough 5 FDA Breakthrough 4 &ƌĞĂŬƚŚƌŽƵŐŚ ϯ 1 Plan to leverage existing coronary ISR data to support potential Pivotal Study, although there have only been limited discussions with the FDA or a comparable foreign regulator in this regard. 2 Will seek to leverage data from HTN+P pilot and pivotal trials to support clinical and regulatory development for High - Risk HTN indication given that age and other demographic factors of the target population are expected to be similar, the type of hypertension treated will likely be isolated systolic hypertension which is predomina nt in the HTN+P population, and other co - morbidities are also expected to be common to both target populations. However, there have been no discussions with the FDA or a comparable foreign regulator in thi s regard. 3 The balloon dilatation of the stenotic portion (up to 26 mm length) of a stented coronary artery (in - stent restenosis (ISR)) that is 2.25 to 4.0 mm in diameter, for the purpose of improvin g lumen diameter; 4 The balloon dilation of the de novo stenotic portion (up to 26mm in lesion length) of a native coronary artery of 2.0 mm to 2.5 mm in diameter (small coronary arteries), for the purp ose of improving lumen diameter; 5 The balloon dilatation of the stenotic portion (up to 18 mm length) of an infrapopliteal artery (P - 3 segment or distal, below the knee, with reference vessel diameter (RVD) 2.25 - 4.0 mm), for the purpose of improving lumen diameter. 6 All references to clinical study initiations for HTN+P, Coronary ISR and Coronary SV indications are based on ongoing interactions with US FDA regarding IDE approvals or Japan PMDA regarding CTN approvals which are required to start clinical studies; FDA & PMDA responses are expected approximately 30 days following for mal submissions; clinical study enrollment is expected to begin approximately 6 - 8 weeks after regulatory approvals; study enrollment timelines currently estimated to be 12 - 18 months for all re ferenced studies although actual study enrollment timeframes may be longer; final primary endpoint results for all studies are at 12 months from enrollment with exception of Japan Coronary ISR & S V studies, which are expected to be at 6 months from enrollment.

10 BackBeat Cardiac Neuromodulation Therapy (CNT Ρ )

BackBeat CNT Ρ Overview 11 Opportunity • Hypertension is #1 comorbidity in pacemaker population affecting over 70% of patients 1 • Older population at increased risk for major events & challenges with drug compliance Innovation • Bioelectronic therapy designed to substantially & persistently lower blood pressure • Compatible with standard pacemaker device & leverages existing treatment paradigm • Compelling clinical data from double - blind randomized study : significant 8.1 mmHg net reduction in 24 - Hr aSBP at 6 months & 17.5 mmHg reduction in oSBP at 2 years 2,3 Collaboration with Medtronic • Global pacemaker leader providing technology and development/clinical/regulatory support for Orchestra BioMed - sponsored global pivotal trial • Following regulatory approval, Medtronic has exclusive global rights to commercialization in the pacemaker - indicated patient population with double - digit revenue sharing for Orchestra BioMed of BackBeat CNT - enabled pacemaker sales 1 Company estimates based on published sources, including National Inpatient Survey (NIS) and National Health and Nutrition Exa min ation Survey (NHANES); 2 Kalaras et al. Journal of the American Heart Association. ahajournals.org / doi /10.1161/JAHA.120.020492; 3 Burkhoff. MODERATO II Study 2 - Year Results TCT 2021;. Definition s: A mbulatory Systolic Blood Pressure ( aSBP ) and Office Systolic Blood Pressure ( oSBP )

>ĂƌŐĞ'ůŽďĂůKƉƉŽƌƚƵŶŝƚLJĨŽƌdƌĞĂƚŝŶŐ,LJƉĞƌƚĞŶƐŝŽŶŝŶdĂƌŐĞƚWŽƉƵůĂƚŝŽŶƐ *Total addressable market in 2025 based on company estimates; 1 Company estimates based on published sources, including National Inpatient Survey (NIS) and National Health and Nutrition Examination Survey (NHANES); 2 Known and well - characterized population, multiple references available; Definition: Hypertension (HTN) 12 >$10 Billion Potential Annual Global Market Opportunity* >3.1 M Addressable HTN Patients HTN + Pacemaker • Over 70% of pacemaker patients have HTN 1 • Older, co - morbid population at increased risk of major events 2 High Risk HTN (Non - pacemaker) • Older patients with isolated systolic hypertension (ISH) and comorbidities 750,000 patients >$2 Billion Annual Global Opportunity Ϯ͕ϰϬϬ͕ϬϬϬ ƉĂƚŝĞŶƚƐ хΨ ϴ ŝůůŝŽŶ HTN + Pacemaker High Risk HTN

• Bioelectronic therapy designed to leverage standard rhythm management device procedures (dual - chamber pacemaker) - Same implant procedure and lead positions - Large trained physician pool - Same target patient population - Leverageable existing reimbursement • Mechanism of action - Designed to substantially reduce blood pressure by reducing preload through programmed pacing with short AV delays - Designed to maintain reduction by modulating sympathetic tone and reducing afterload through programmed variable pressure patterns Designed to Substantially Lower BP & Maintain Reduction BackBeat CNT Ρ 13 Designed to Substantially and Persistently Lower Blood Pressure 1. Reducing Preload Lowers BP 2. Modulating Sympathetic Tone & Reducing Afterload Maintains Reduction in BP SBP (mmHg) Time (s) 155 150 145 140 135 130 0 50 100. 150 200 250 300

MODERATO II Double - Blind, Randomized Results ĂĐŬĞĂƚEd Ρ  ƐŚŽǁĞĚĞŶĐŽƵƌĂŐŝŶŐƌĞƐƵůƚƐŝŶ DKZdK//͕ĂƉƌŽƐƉĞĐƚŝǀĞ͕ŵƵůƚŝ Ͳ ĐĞŶƚĞƌ͕ ƌĂŶĚŽŵŝnjĞĚ͕;ĂĐŬĞĂƚEdнDĞĚŝĐĂůdŚĞƌĂƉLJǀƐ͘ ŽŶƚŝŶƵĞĚDĞĚŝĐĂůdŚĞƌĂƉLJͿ͕ĚŽƵďůĞ Ͳ ďůŝŶĚ͕ƉŝůŽƚƐƚƵĚLJ ŽĨƉĂĐĞŵĂŬĞƌƉĂƚŝĞŶƚƐǁŝƚŚƉĞƌƐŝƐƚĞŶƚŚLJƉĞƌƚĞŶƐŝŽŶ 1 Kalaras et al. Journal of the American Heart Association. 2021;10:e020492 ahajournals.org/doi/10.1161/JAHA.120.020492 ; 2 Burkhoff MODERATO II Study 2 - Year Results TCT 2021; 3 24 - Hr aSBP Control (n=19),1 control patient could not be measured despite repeat measurement (patient had extremely high blood pressure) ; Definitions: Major Adverse Cardiac Events (MACE) included death, heart failure, clinically significant arrhythmias (i.e., persistent or increase d a trial fibrillation, serious ventricular arrhythmias), myocardial infarction, stroke and renal failure in treatment group calculated per patient , Office Systolic Blood Pressure ( oSBP ), Ambulatory Systolic Blood Pressure ( aSBP ) 14 Significant Reduction in aSBP 24 Hours a Day - 11.1 mmHg in 24 - Hour aSBP at 6 months - 17.5 mmHg in oSBP at 2 years 0% MACE vs. 9.5% in control group at 6 months 85% of patients with reduction in aSBP 6 Months 24 Months Significant Reduction in 24 - Hr aSBP and oSBP 1,2 Ă^W oSBP 6 Months 0 - 5 - 10 - 15 - 20 - 3.1 P = 0.17 - 11.1 P < 0.001 - 12.4 P < 0.001 - 0.1 P = 0.94 Ͳ ϭϳ͘ϱ Wф Ϭ͘Ϭϭ Δ - 12.3 p = 0.02 Δ - 8.1 p = 0.01 Δ in BP (mmHg) 150 145 140 135 130 125 120 115 110 00:00 01:00 02:00 03:00 04:00 05:00 06:00 07:00 08:00 09:00 10:00 11:00 12:00 13:00 14:00 15:00 16:00 17:00 18:00 19:00 20:00 21:00 22:00 23:00 24 - Hr aSBP (mmHg) P < 0.01 for all times of day ŽŶƚƌŽů;Ŷс ϮϬ Ϳ ϯ ĂĐŬĞĂƚ  Ed;Ŷс Ϯϲ Ϳ Pre - activation (n=26) 6 months (n=26) 6 Month Mean Pre - activation Mean

BackBeat CNT Ρ Medtronic Collaboration • Medtronic is the global leader in pacemakers - >$1.5 billion annual pacemaker revenues 1 • Key Terms: (Hypertension + Pacemaker population) - Orchestra BioMed drives and finances development as sponsor of global pivotal trial - Medtronic provides certain development/clinical/regulatory resources funded by Orchestra to support integration into a Medtronic pacemaker and execution of the pivotal trial - Medtronic has exclusive global rights for commercialization upon regulatory approval - Orchestra is expected to receive between $500 and $1,600 per BackBeat CNT enabled device sold based on a formula of the higher of (1) a fixed dollar amount per device (amount varies materially on a country - by - country basis) or (2) a percentage of sales. - BackBeat CNT enabled devices expected to be sold under existing reimbursement codes . - Medtronic has a right of first negotiation to expand its global rights to BackBeat CNT for the treatment of HTN patients not indicated for a pacemaker • Medtronic invested $40 million in Orchestra BioMed’s $110 million Series D financing and will invest an additional $10M in HSAC2 merger transaction 15 Aligned with Global Market Leader in Pacemakers and Device - based Hypertension Treatment DĞĚƚƌŽŶŝĐ 1 Based on MDTs consolidated financial results for the fiscal year ended April 29, 2022

BackBeat CNT Ρ Pivotal Trial Design 16 Current anticipated trial design: • Randomization of ~650 - 750 patients with uncontrolled HTN despite medical therapy who are indicated for a dual - chamber pacemaker • Inclusion and exclusion criteria for enrollment in the BackBeat CNT Pivotal Study will be similar to the criteria used in the MODERATO II study • Patients will be randomized 1:1 in a double - blinded manner to either active treatment with the BackBeat CNT - with continued antihypertensive drug treatment or to standard pacing - only with continued antihypertensive drug therapies • Anticipated primary efficacy and safety endpoints: - Efficacy endpoint: Superiority of treatment as compared to control based on mean change in 24 - hour aSBP at 3 months post randomization - Safety endpoint: Non - inferiority between the treatment and control groups comparing Major Adverse Cardiovascular Events (MACE) at 12 months post randomization • Enroll patients across ~80 study sites planned for United States, Europe and, potentially, Japan

17 Virtue® Sirolimus AngioInfusion Ρ Balloon (SAB)

sŝƌƚƵĞΠ^KǀĞƌǀŝĞǁ 18 Opportunity • Significant need for “leave nothing behind” treatment for coronary and peripheral indications representing an > $3B global market opportunity 1 • Current drug - eluting stents (DES) carry risks of long - term restenosis and late thrombosis; require extended dual antiplatelet therapy; not effective/approved for select patients/lesions Innovation • Highly - differentiated, non - coated drug/device combination product candidate designed to enable angioplasty with protected delivery of extended release sirolimus • Compelling clinical results in multi - center coronary ISR clinical trial with 3 - year follow - up 2 • FDA Breakthrough Device Designation received for indications in coronary ISR 3 , coronary SV 4 and BTK 5 Partnership with • Global commercial leader with >$2.5B annual interventional cardiology revenue responsible for commercializing Virtue SAB as flagship therapeutic offering • Collaboration driving multi - indication pivotal trial program starting with coronary ISR • Orchestra BioMed to receive double - digit royalties and per unit drug payments 1 Total addressable market is 2025 market data based on company estimates; ; 2 von Birgelen et al. JACC Vol. 59, No. 15, 2012 April 10, 2012:1350 – 61; Virtue SAB has received Breakthrough Device Designation for: 3 The balloon dilatation of the stenotic portion (up to 26 mm length) of a stented coronary artery (in - stent restenosis (ISR)) tha t is 2.25 to 4.0 mm in diameter, for the purpose of improving lumen diameter; 4 The balloon dilation of the de novo stenotic portion (up to 26mm in lesion length) of a native coronary artery of 2.0 mm to 2.5 mm in diameter (small coronary arteries), for the purpose of improving lumen diameter; 5 The balloon dilatation of the stenotic portion (up to 18 mm length) of an infrapopliteal artery (P - 3 segment or distal, below the knee, with reference vessel diameter (RVD) 2.25 - 4.0 mm), for the purpose of improvi ng lumen diameter.

Large Opportunity for Leave Nothing Behind Solution 19 >$3 Billion Annual Global CAD & PAD Market Opportunity * • Artery disease is the primary cause of death worldwide • Large mature market with significant unmet need – Suboptimal treatments for coronary ISR, coronary SV de novo and BTK • Designed to leverage existing treatment paradigm & established technologies: sirolimus and balloon angioplasty х ϯ͘Ϯ DĚĚƌĞƐƐĂďůĞΘWWĂƚŝĞŶƚƐ ; ϮϬϮϱ ƐƚŝŵĂƚĞͿ ~2,000,000 patients > $1.8 Billion Annual Global Opportunity ~1,250,000 patients > $1.2 Billion Coronary Peripheral *Total addressable market in 2025 based on company estimates; Definitions: Coronary Artery Disease (CAD), Peripheral A rtery D isease (PAD), In - stent Restenosis (ISR), Small Vessel (SV, ≤2.5mm), High bleeding Risk De Novo (>2.5mm), Below - t he - Knee (BTK , Rutherford 3 - 6, w/out severe comorbidities).

Virtue® SAB ŶŐŝŽ/ŶĨƵƐŝŽŶ Ρ  ĂůůŽŽŶ ĚĞƐŝŐŶĞĚƚŽĞŶĂďůĞĂŶŐŝŽƉůĂƐƚLJ ǁŝƚŚƉƌŽƚĞĐƚĞĚĚƌƵŐĚĞůŝǀĞƌLJƚŽĚŝůĂƚĞǀĞƐƐĞů͕ƚŽĐŽŶƐŝƐƚĞŶƚůLJ ĚĞůŝǀĞƌŝŶƚĞŶĚĞĚĚŽƐĞĂŶĚƚŽůĞĂǀĞŶŽŵĞƚĂůďĞŚŝŶĚ Designed to Enable Angioplasty with Protected Sirolimus Delivery while Leaving No Metal Behind 20 1 Granada et al. EuroIntervention 2016;12:740 - 747 Precise dose protected in dose unit Inflated to deliver dose through micropores ^ŝƌŽůŝŵƵƐ&Z Ρ  &ŽƌŵƵůĂƚŝŽŶ ƉƌŽǀŝĚĞĚĞdžƚĞŶĚĞĚĨŽĐĂů ƌĞůĞĂƐĞŽĨƚŚĞƌĂƉĞƵƚŝĐůĞǀĞůƐŽĨƐŝƌŽůŝŵƵƐƚŚƌŽƵŐŚĐƌŝƚŝĐĂů ŚĞĂůŝŶŐƉĞƌŝŽĚ; у ϯϬ ĚĂLJƐͿ ϭ ϭϬϬϬ 100 10 1 0.1 0.01 0.001 Ϭ͘ϬϬϬϭ ^ŝƌŽůŝŵƵƐdŝƐƐƵĞŽŶĐĞŶƚƌĂƚŝŽŶ;ŶŐͬŵŐͿ Required Therapeutic Concentration > 1ng/mg Lung, liver & kidney below level of assay quantification (0.1 ng/mg) in <1 week 0 5 10 15 ϮϬ Ϯϱ 30 Coronary Distal Kidney Liver Lun g Time (Days) N = 753 porcine coronary artery segments Protected Delivery/No Drug Coating • No drug loss in transit • No time limits on delivery • No drug coating particulates

Compelling SABRE Trial Results in Coronary ISR Patients ϭ sĞƌŚĞLJĞĞƚĂů͘:ĂƌĚŝŽǀĂƐĐ /ŶƚĞƌǀ  ϮϬϭϳ KĐƚ Ϯϯ ͖ ϭϬ ; ϮϬ Ϳ͗ ϮϬϮϵ Ͳ ϮϬϯϳ ͘K/͗ ϭϬ͘ϭϬϭϲ ͬũ͘ũĐŝŶ͘ ϮϬϭϳ͘Ϭϲ͘ϬϮϭ ͘  Ϯ 'ƌĂŶĂĚĂ ϯ Ͳ zĞĂƌůŝŶŝĐĂůZĞƐƵůƚƐdd ϮϬϭϴ ͘ ϯ Ͳ zĞĂƌ^ZdƌŝĂůůŝŶŝĐĂůZĞƉŽƌƚŽŶĨŝůĞ͘  ĞĨŝŶŝƚŝŽŶƐ͗ dĂƌŐĞƚůĞƐŝŽŶĨĂŝůƵƌĞ;d>&Ϳ͕ůĂƚĞůƵŵĞŶůŽƐƐ;>>>Ϳ͕ƚĂƌŐĞƚůĞƐŝŽŶƌĞǀĂƐĐƵůĂƌŝnjĂƚŝŽŶ;d>ZͿĂŶĚDLJŽĐĂƌĚŝĂů/ŶĨĂƌĐƚŝŽŶ;D/Ϳ͘ Ϯϭ Virtue® SAB preliminarily demonstrated encouraging safety and efficacy results in patients with coronary in - stent restenosis (ISR) in prospective, multi - center SABRE Trial 1 0.12 mm LLL at 6 - months 2.8% Target Lesion Failure at 1 year 0% New TLR between 1 to 3 years Preliminarily Demonstrated Safety with Low Event Rates Out to 3 Years 2 Preliminary Efficacy Results Showed Low 0.12mm Late Loss 1 RVD reported using Internormal values; 2 Trial primary performance endpoint; 3 Trial secondary performance endpoint (binary restenosis = >50% lumen diameter stenosis). 4 Data is based on per protocol population criteria revised to be consistent with proposed Virtue ISR - US pivotal study population. Event Rates (%) ĂƌĚŝĂĐĞĂƚŚ TV - MI TLR TLF 10% 9% 8% ϳ й ϲ й 5% 4% 3% 2% 1% 0% Ϭ й ϯϬ ĚĂLJƐ ϭ Ͳ LJĞĂƌ ϯ Ͳ LJĞĂƌƐ 0% 0% 0% 0% 0% 0% Ϯ͘ϴ й Ϯ͘ϴ й 2.8% 2.8% 5.6% 4

Virtue® SAB Terumo Partnership • Terumo is a global leader with >$2.5 billion annual interventional cardiology revenues 1 • Virtue SAB positioned to become Terumo’s flagship therapeutic offering with potential to drive significant future growth • Key Terms: - $30 million upfront and potential future clinical and regulatory milestones - $5 million equity investment including participation in Series D financing - Terumo responsible for clinical and regulatory expenses, excluding Virtue ISR - US study which Orchestra BioMed is sponsoring - Terumo responsible for device supply chain and commercialization expenses - Orchestra BioMed receives 10 - 15% royalty PLUS per unit payments for SirolimusEFR Ρ as exclusive supplier - Orchestra BioMed retains rights to Virtue SAB in all clinical applications outside of vascular indications ϮϮ DƵůƚŝŶĂƚŝŽŶĂůDĂƌŬĞƚ>ĞĂĚĞƌWƌŽǀŝĚĞƐ'ůŽďĂůŽŵŵĞƌĐŝĂůZĞĂĐŚĂŶĚ>ŽŶŐ Ͳ dĞƌŵůŝŐŶŵĞŶƚ 1 Based on Terumo’s consolidated financial results for the fiscal year ended March 31, 2022

Virtue® SAB – Coronary ISR US Pivotal Trial 23 Double - blind, multi - center, prospective, randomized controlled study in patients with single - layer coronary ISR Virtue® SAB N=200 R dĂƌŐĞƚ>ĞƐŝŽŶ&ĂŝůƵƌĞ  ;͕ds Ͳ D/ĂŶĚd>ZͿĂƚ ϭϮ ŵŽŶƚŚƐ WƌŝŵĂƌLJŶĚƉŽŝŶƚ Statistical Assumption 90% powered for superiority Virtue SAB TLF ≤ 19% vs. PBA TLF ≥ 30% Success Considerations Virtue SAB: 2.8% TLF at 12 months in SABRE trial per protocol population PBA: 33 - 46% TLF at 12 months in coronary ISR published studies 12 Month Primary Endpoint 12 - 18 Months Enrollment Key Inclusion RVD 2.5 to 4.0 mm, <30% DS (vs. RVD 2.5 to 3.5, <40% DS SABRE 1 Trial ) PBA N=100 Prospective, single - arm, controlled study in patients with double - layer coronary ISR sŝƌƚƵĞΠ^ Eс ϭϬϬ <ĞLJ/ŶĐůƵƐŝŽŶ Zs Ϯ͘ϱ ƚŽ ϰ͘Ϭ ŵŵ͕ ф ϯϬ й^ ;ǀƐ͘Zs Ϯ͘ϱ ƚŽ ϯ͘ϱ ͕  ф ϰϬ й^^Z ϭ  dƌŝĂů Ϳ Target Lesion Failure (CD, TV - MI and TLR) at 12 months 1 Verheye S. JACC Cardiovasc Interv . 2017; 10: 2029 - 37. Definitions: Coronary In - stent Restenosis (ISR), Diameter Stenosis (DS), Plain Balloon Angioplasty (PBA). Revised per protocol analysis set meets the criteria of the proposed In - Stent Restenosis IDE study population . Randomized Study Arm to Support Regulatory Approval: Single - Layer Coronary ISR Non - Randomized Study Arm: Double - Layer Coronary ISR Primary Endpoint Study Objective Provide additional clinical data in support of use in double - layer Coronary ISR without confounding TLF performance results in single - layer Coronary ISR

ϮϬϮϯ Ͳ  ŶƚŝĐŝƉĂƚĞĚDŝůĞƐƚŽŶĞƐ ŽƌƉŽƌĂƚĞ ‡ ůŽƐĞƵƐŝŶĞƐƐŽŵďŝŶĂƚŝŽŶ ‡ >ŝƐƚŽŶEĂƐĚĂƋ;K/KͿ sŝƌƚƵĞ^ ʹ  ŽƌŽŶĂƌLJ/^Z ‡ sŝƌƚƵĞ/^Z Ͳ h^&/ƉƉƌŽǀĂů ‡ ϭ ƐƚWƚ͘ŶƌŽůůŵĞŶƚ;h^Ϳ H1 2023 H2 2023 24 BackBeat CNT – HTN + Pacemaker • FDA IDE Approval • 1 st Pt. Enrollment (EU & US) • Japan PMDA CTN Approval • 1 st Pt. Enrollment (Japan) CNT - HF • Acute Clinical Results Virtue SAB – Coronary ISR • Japan PMDA CTN Approval 1 • 1st Pt. Enrollment (Japan) 1 Virtue SAB – Coronary SV • Japan PMDA CTN Approval 1 • 1st Pt. Enrollment (Japan) 1 SirolimusEFR • Preclinical Feasibility Results 2 1 Timing estimated and subject to Terumo execution since Terumo controls development of Virtue SAB for SV indication and for IS R i n Japan 2 Assumes focus on a device/drug combination balloon - based solution targeting indication such as urethral strictures or BPH Corporate ĂĐŬĞĂƚEdͬEd Ͳ ,& sŝƌƚƵĞ^ SirolimusEFR

Use of Proceeds 25 Activity Description Estimated Expenses H2 2022 - 2025 General Research & Development • BackBeat CNT - Firmware integration into Medtronic device; testing and validation activities - Clinical trial planning and preparation - IDE preparation and submission • Virtue SAB - GLP and biocompatibility testing for IDE submission - SirolimusEFR production and process scale - up activities - Clinical trial materials (device and drug) manufacturing and testing - IDE preparation and submission • CNT - HF and SirolimusEFR feasibility work $35 - 45M 1 Backbeat CNT & Virtue SAB Pivotal Trials • Execution of multinational BackBeat CNT HTN+P pivotal trial • Execution of Virtue SAB ISR - US pivotal trial $55 - 65M General & Administrative • General overhead including public company expenses ~$3M avg. per quarter H2 2022 - 2025 Expenses by Category Definitions: Coronary In - stent Restenosis (ISR), Research & Development (R&D), Investigation Device Exemption (IDE), Good Laboratory Practice (GLP) 1 Net of anticipated milestone payments

26 Two Programs Targeting Large Markets Supported by Promising Trial Data Entering Pivotal Trials – BackBeat CNT Ρ • >$10 billion annual market • R andomized , controlled study shows efficacy potential • Collaboration with Medtronic – V irtue ® SAB • ∼ $3 billion annual market • 3 - year pilot study results show potential safety & efficacy • Partnered with Strong Balance Sheet with Financial Runway into 2026 and Committed Investors Bringing Medical Inn vations to Life Through Partnerships Partnership - Enabled Business Model & Accomplished Leadership Team – Designed to accelerate innovation to patients, enable pipeline expansion and drive strong partner and shareholder value – Highly experienced team with p roven track record of innovation and execution Medtronic

WĂƌƚŶĞƌƐŚŝƉ Ͳ ŶĂďůĞĚ ƵƐŝŶĞƐƐDŽĚĞů Ϯϳ

Significant Barriers Prevent Innovation From Reaching Patients 28 Startups often struggle for resources to reach commercial value inflection Large companies’ constrained R&D budgets limit innovation & acquisitions Increasing burden of cost, time, and work to bring medical innovation to patients Product Development ŽŵŵĞƌĐŝĂůŝnjĂƚŝŽŶ ϭ WŝƚЌŬ ʹ  ŶĂůLJƐŝƐŽĨ ϰϯϬ ĐŽŵƉĂŶŝĞƐƐŝŶĐĞ ϮϬϭϱ ƚŚĂƚ ĐŽŵƉůĞƚĞĚ  ĂƚůĞĂƐƚ^ĞƌŝĞƐĨŝŶĂŶĐŝŶŐ Ϯ ^s,ĞĂůƚŚĐĂƌĞZĞƉŽƌƚ ϮϬϭϵ ϯ ĂƉŝƚĂů/Y Avg $60M funding needed, 85% of acquisitions required commercial traction 1 Avg 7% of revenue spent on R&D by top 20 med device vs. 20% in pharma 2,3

Orchestra BioMed Can Accelerate Innovation to Patients 29 Risk - Reward Sharing Partnerships Can Overcome the Barriers to Innovation

30 >ĂƌŐĞDĂƌŬĞƚǁŝƚŚhŶŵĞƚEĞĞĚƐ WŽƚĞŶƚŝĂůĨŽƌ,ŝŐŚ/ŵƉĂĐƚ Favorable for Partnering Key Pipeline Criteria Large market, significant unmet needs, established distribution channels Designed to improve standard of care, fit existing treatment paradigm, disrupt market dynamics Significant differentiation, attractive economics for partnership, durable IP protection Selecting Optimal Opportunities ĞǀĞůŽƉĨŽƌ WĂƌƚŶĞƌƐŚŝƉ WƌĞ Ͳ ƉĂƌƚŶĞƌĞĚ ĐƋƵŝƐŝƚŝŽŶƐ Innovation Royalty - based R&D Programs

Orchestrating Inn vation 31 Created Pipeline, Pioneered Business Model and Established Partnerships Combined, our leadership team has zĞĂƌƐŽĨ ĞdžƉĞƌŝĞŶĐĞ ǀĞƌĂŐĞLJĞĂƌƐ ŽĨĞdžƉĞƌŝĞŶĐĞĞĂĐŚ New product approvals/clearances Authored patents 250 + 25 100+ 600+ ĐĐŽŵƉůŝƐŚĞĚ>ĞĂĚĞƌƐŚŝƉdĞĂŵ

ƉƉĞŶĚŝdž͗^ƵŵŵĂƌLJŽĨZŝƐŬ&ĂĐƚŽƌƐ Risks Related to Orchestra’s Business and Products • Orchestra has a history of net losses, expects to continue to incur losses for the foreseeable future and may never become pr ofi table. • If Orchestra does not achieve its projected development and commercialization goals, its business may be harmed. • Even if Orchestra obtains all necessary FDA approvals and clearances, its product candidates may not achieve or maintain mark et acceptance. • Orchestra may be unable to compete successfully with larger companies in its highly competitive industry. • Orchestra may expend its limited resources to pursue a particular product or indication and fail to capitalize on products or in dications that may be more profitable or for which there is a greater likelihood of success. • Orchestra’s operating results may fluctuate significantly, which makes its future operating results difficult to predict and cou ld cause operating results to fall below expectations or any guidance it may provide. • A pandemic, such as the COVID - 19 pandemic, could adversely impact our business, including our clinical trials and financial cond ition. • Orchestra’s loan and security agreement contains operating covenants and restrictions that may restrict its business and fina nci ng activities. • If Orchestra’s clinical trials are unsuccessful or significantly delayed, or if Orchestra does not complete its clinical tria ls, its business may be harmed. • Interim, ‘‘top - line’’ and preliminary data from Orchestra’s clinical trials that it announces or publishes from time to time may change as more patient data become available and are subject to audit and verification procedures that could result in material changes in the final data. • Orchestra’s product candidates may be associated with serious adverse events, undesirable side effects or have other properti es that could halt their clinical development, prevent their regulatory approval, limit their commercial potential or result in significant negative consequences. • Orchestra depends on attracting, retaining and developing key management, clinical, scientific and sales and marketing person nel , and • losing these personnel could impair the development and sales of our products or product candidates. • If Orchestra makes acquisitions, it could incur significant costs and encounter difficulties that harm its business. • Product liability and other claims may reduce demand for Orchestra’s products or result in substantial damages. • The misuse or off - label use of Orchestra’s products may harm its reputation in the marketplace, result in injuries that lead to product liability suits or result in costly investigations, fines or sanctions by regulatory bodies if Orchestra is deemed to have engaged in the promotion of these uses, any of which could be c ost ly to its business. • Orchestra’s internal computer systems, or those of any of its contract research organizations, manufacturers, other contracto rs, consultants, collaborators or potential future collaborators, may fail or suffer security or data privacy breaches or other unauthorized or improper access to, use of, or destruction of propr iet ary or confidential data, employee data, or personal data, which could result in additional costs, loss of revenue, significant liabilities, harm to Orchestra’s brand and material disruption of its operations. • Economic conditions, including inflation caused by, among other things, the ongoing invasion of Ukraine by Russia, may advers ely affect Orchestra’s business, financial condition and share price. • Disruptions at the FDA and other government agencies caused by funding shortages or global health concerns could hinder their ab ility to hire, retain or deploy key leadership and other personnel, or otherwise prevent new or modified products from being developed, cleared or approved or commercialized in a tim ely manner or at all, which could negatively impact Orchestra’s business. • In the future, we expect to be subject to a variety of risks associated with marketing and distributing our products internat ion ally that could materially adversely affect our business. • The sizes of the markets for product candidates have not been established with precision, and may be smaller than Orchestra e sti mates. • Orchestra may in the future bring certain validation testing and pharmaceutical manufacturing capabilities in - house, and it may not be able to do so successfully or in compliance with FDA regulations. 32

Appendix: Summary of Risk Factors (Cont’d) Risks Related to Orchestra BioMed’s Reliance on Third Parties • Orchestra expects to be highly dependent on partners and third - party vendors to manufacture and provide important materials and components for its products and product candidates. • Orchestra may be unable to reach certain milestones under its agreement with Terumo by the dates specified or at all. • Orchestra expects to be highly dependent on partners to drive the successful marketing and sale of our initial product candid ate s. • Orchestra and its partners may be unable to sustain revenue growth. • From time to time, Orchestra engages outside parties to perform services related to certain of its clinical studies and trial s, and any failure of those parties to fulfill their obligations could cause costs and delays. • The continuing development of many of Orchestra’s products and product candidates depends upon maintaining strong working rel ati onships with physicians. • Orchestra has limited pharmaceutical manufacturing experience and may experience development or manufacturing problems or del ays in producing its products and planned or future products that could limit the potential growth of revenue or increase losses. • Orchestra sources certain products from foreign suppliers, making it vulnerable to supply problems or price fluctuations caus ed by trade conflicts and other geopolitical events. • The ongoing Russian invasion in Ukraine may have an adverse effect on the operations of our partners. Risks Related to Government Regulation and Orchestra BioMed’s Industry • Healthcare reform initiatives and other administrative and legislative proposals may adversely affect Orchestra’s business. • Orchestra may not obtain the necessary approvals and failure to obtain timely regulatory approval, if at all, would adversely af fect its business. • Orchestra’s medical device products must be manufactured in accordance with federal and state regulations, and it or any of i ts suppliers or third - party manufacturers could be forced to recall installed systems or terminate production if we or they fail to comply with these regulations. • Even if Orchestra obtains regulatory approval for a product candidate, its products will remain subject to regulatory scrutin y a nd post - marketing requirements and failure to comply with post - marketing regulatory requirements could subject us to enforcement actions, including substantial penalties, and might require us to recall or withdraw a product from the market. • Orchestra’s medical device products, if approved, may cause or contribute to adverse medical events or be subject to failures or malfunctions that Orchestra is required to report to the FDA, and if we fail to do so, we would be subject to sanctions that could harm our reputation, business, financial condition and results of operations. • The discovery of serious safety issues with Orchestra’s products, or a recall of our products either voluntarily or at the di rec tion of the FDA or another governmental authority, could have a negative impact on us. • Virtue SAB is a drug/device combination, which may result in additional regulatory and other risks. • If the FDA does not conclude that SirolimusEFR as a standalone product candidate satisfies the requirements for the Section 5 05( b)(2) regulatory approval pathway, or if the requirements for such product candidates under Section 505(b)(2) are not as Orchestra expects, the approval pathway for those product candidates ma y l ikely take significantly longer, cost significantly more and entail significantly greater complications and risks than anticipated, and in either case may not be successful. • Changes in methods of product candidate manufacturing or formulation may result in additional costs or delay. • Orchestra’s relationships with physicians, patients and payors in the United States and elsewhere may be subject, directly or in directly, to applicable anti - kickback, fraud and abuse, false claims, transparency, and other healthcare laws and regulations. • Healthcare cost containment pressures and legislative or administrative reforms resulting in restrictive coverage and reimbur sem ent practices of third - party payors could decrease the demand for Orchestra’s products, the prices that customers are willing to pay for those products and the number of procedures performed usi ng its devices, which could have an adverse effect on its business. • Changes in and failures to comply with U.S. and foreign privacy and data protection laws, regulations and standards may adver sel y affect Orchestra’s business, operations and financial performance. • Environmental and health safety laws may result in liabilities, expenses and restrictions on Orchestra’s operations. • Orchestra is subject to anti - bribery, anti - corruption, and anti - money laundering laws, including the U.S. Foreign Corrupt Practi ces Act, and violations of these laws could result in substantial penalties and prosecution. ϯϯ

ƉƉĞŶĚŝdž͗^ƵŵŵĂƌLJŽĨZŝƐŬ&ĂĐƚŽƌƐ;ŽŶƚ ͛ ĚͿ Risks Related to Orchestra’s Intellectual Property • Orchestra may be unable to protect or enforce its intellectual property rights. • Third parties may assert that Orchestra’s employees or consultants have wrongfully used or disclosed confidential information or misappropriated trade secrets. • Orchestra may be involved in litigation or other proceedings relating to patent, trade secret and other intellectual property ri ghts, which could cause substantial costs and liability. • Patents covering Orchestra’s technology or products could be found invalid or unenforceable if challenged in court or before adm inistrative bodies in the United States or abroad. • Obtaining and maintaining patent protection depends on compliance with various procedural, document submission, fee payment a nd other requirements imposed by government patent agencies, and Orchestra’s patent protection could be reduced or eliminated for non - compliance with these requirements. • Changes in U.S. patent law could diminish the value of patents in general, thereby impairing Orchestra’s ability to protect i ts products. • Orchestra may be subject to claims challenging the ownership or inventorship of its patents and other intellectual property a nd, if unsuccessful in any of these proceedings, Orchestra may be required to obtain licenses from third parties, which may not be available on commercially reasonable terms, or at all, or to ce ase the development, manufacture and commercialization of one or more of its products. • Patent terms may be inadequate to protect Orchestra’s competitive position on its product candidates for an adequate amount o f t ime. • Orchestra may be unable to acquire patent term extension in the United States under the Hatch - Waxman Act and in foreign countrie s under similar legislation. • Orchestra may need to obtain intellectual property rights from third parties, and may not be successful in obtaining necessar y r ights to develop any future product through acquisitions and in - licenses. • If Orchestra’s trademarks and trade names are not adequately protected, then Orchestra may not be able to build name recognit ion in its markets of interest and its business may be adversely affected. Risks Related to HSAC2 and the Business Combination • If the Business Combination’s benefits do not meet the expectations of investors or securities analysts, the market price of the post - combination entity’s securities may decline. • The consummation of the Business Combination is subject to a number of conditions and if those conditions are not satisfied o r w aived, the Business Combination may be terminated in accordance with its terms and the merger may not be completed. • Subsequent to the completion of the Business Combination, the combined company may be required to take write - downs or write - offs , restructuring and impairment or other charges that could have a significant negative effect on the combined company’s financial condition, results of operations and stock price , w hich could cause you to lose some or all of your investment. • Following the consummation of the Business Combination, the combined company will incur significant increased expenses and ad min istrative burdens as a public company, which could negatively impact its business, financial condition and results of operations. • A significant portion of combined company common stock following the Business Combination will be restricted from immediate r esa le, but may be sold into the market in the future. Future sales could cause the market price of combined company common stock to drop significantly, even if the combined company’s bus ine ss is doing well. • HSAC2’s board of directors did not obtain a third - party valuation or fairness opinion in determining whether or not to proceed w ith the Business Combination. • HSAC2 and Orchestra have incurred and expect to incur significant costs associated with the Business Combination. • The Sponsor and HSAC2’s officers and directors own common shares and private warrants that will be worthless, and have incurr ed reimbursable expenses that may not be reimbursed or repaid, if the Business Combination is not approved and HSAC2 is not able to complete an alternative business combination by the applicable deadline. Such interests may have influenced their decision to approve the Business Combination. 34