The Sponsor provided key assumptions from a recently non-competitively sourced study in an excel file. No protocol or study design was provided. The study was modeled as medium complexity using Clinical Maestro's PORTFOLIO application for planning and budgeting. STUDY BUILD ASSESSMENT SMALL , MID -COMPLEXITY , PHASE 2 CNS STUDY LEADING JAPANESE PHARMA Evidence of Budget Accuracy & Reliability 2 Hours of Effort to create the study budget and scenarios in Clinical Maestro 4 Scenarios Built Ranged from $2.8M to $3.1M depending on complexity and service assumptions + 3 . 8 % Variance between Awarded CRO budget and Clinical Maestro calculated budget CRO Awarded Budget Clinical Maestro 4M 3M 2M 1M 0M Phase 2 Therapy Area: CNS Indication: Treatment-Resistant Depression US only 12

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