Nasdaq: MNKD

Our focus is patients, our passion is innovation

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Cautionary Statement
This presentation includes forward-looking statements relating to the development, commercialization and benefits of our investigational product candidates, including AFREZZA, that are subject to certain risks and uncertainties that could cause actual results to differ materially from those projected herein. The words "believe," "expect," "intend," "anticipate," "plan," variations of such words, and similar expressions identify forwardlooking statements, but their absence does not mean that a statement is not forward-looking. These forward-looking statements are not guarantees of future performance and are subject to certain risks, uncertainties, and assumptions that are difficult for us to predict. Factors that could affect the development and commercialization of our investigational product candidates include the progress and costs of clinical trials and the timing of regulatory approvals, the availability of clinical materials from third-party suppliers, and MannKind's ability to manufacture and commercialize its products, if and when approved, in a timely and cost-effective manner, and other risks and uncertainties described in MannKind's current and periodic reports filed with the Securities and Exchange Commission, including MannKind's annual report on Form 10-K for the year ended December 31, 2012.
2014 MannKind Corporation. All rights reserved. No copying or distribution of this material may be made without written consent of MannKind Corporation.

The first and only ultra rapid-acting insulin

2014 MannKind Corporation. All rights reserved. No copying or distribution of this material may be made without written consent of MannKind Corporation.

Global Epidemic
Prevalence of Diabetes 2013-2035
68.9 56.3 50.4 36.7 67.9 138.2 123.0 72.1 201.8

34.6

38.5 24.1

41.4

19.8

2013 2035

Source: International Diabetes Federation Diabetes Atlas, 2013

2014 MannKind Corporation. All rights reserved. No copying or distribution of this material may be made without written consent of MannKind Corporation.

AFREZZA Product Profile Drives Blockbuster Opportunity

First-in-class ultra rapid-acting insulin

Unique pharmacokinetic profile results in significant clinical benefits

Clinical and patient benefits

Proven HbA1c reductions Reduced risk of hypoglycemia vs. rapid-acting analogs (RAAs) Less weight gain vs. other prandial insulins Small, discreet and easy-to-use inhaler Injection-free insulin delivery

Clinical studies support safety

No long-term or irreversible effects on pulmonary function in up to two years of clinical assessments No increased cardiovascular or cancer risk

2014 MannKind Corporation. All rights reserved. No copying or distribution of this material may be made without written consent of MannKind Corporation.

U.S. Diabetes Prevalence and Insulin Use is Large and Growing

All Patients: 22,163,000
Lifestyle 8%

Insulin Patients: 6,997,000

T2 Other 19%
T1 Pumpers 6% T1 MDI 11%

Insulin Using 32%

T2 Pre-Mix Only 14%

T2 LongActing Only 26% T2 BasalBolus 24%

Orals Only 57%

Orals + GLP1/GLP Only 3%

Large pool of insulin users and growing pool of patients who will transition to insulin ~500,000 new insulin users each year
Source: CDC, National Diabetes Fact Sheet, 2010; 2012 Roper US Diabetes Patient Market Study (Gfk Healthcare 2012)
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US RAA Market: Large and Growing

~$4 billion in annual sales in 2012 Consistent double digit competitive price increases
$4,500 $4,000 $3,500

($ millions)

$3,000 $2,500 $2,000 $1,500 $1,000 $500 $0 2007 2008 2009 2010 2011 2012
Apidra

Humalog
Novolog

Source: IMS, MIDAS US

2014 MannKind Corporation. All rights reserved. No copying or distribution of this material may be made without written consent of MannKind Corporation.

Current Insulin Treatment Challenges

Survey: Global Attitudes of Patients and Physicians in Insulin Therapy

One-third of patients failed to take insulin as prescribed Insulin treatment challenges:

67% patients concerned about hypoglycemia 74% physicians would treat to target if no fear of hypoglycemia events

Limitations of current insulin regimens include:

Hypoglycemia Slow absorption Weight gain Inconvenience of injections

Source: GAPP Survey (Global Attitudes of Patients and Physicians in Insulin Therapy), 2010, Novo Nordisk.
2014 MannKind Corporation. All rights reserved. No copying or distribution of this material may be made without written consent of MannKind Corporation.

ADA and EASD Position Statement

Ideally, the principle of insulin use is the creation of as normal a glycemic profile as possible without unacceptable weight gain or hypoglycemia.
Management of Hyperglycemia in Type 2 Diabetes: A Patient-Centered Approach. Position Statement of the American Diabetes Association and the European Association for the Study of Diabetes. Diabetes Care, 35: 1364-1379, 2012

2014 MannKind Corporation. All rights reserved. No copying or distribution of this material may be made without written consent of MannKind Corporation.

AFREZZA
Changing the Way Diabetes is Treated

Excellent Control Less Risk

Ideal PK/PD Profile More Physiologic

Meal synchronization

Less Hypoglycemia, Less Weight Gain

Simple, easy to use, patient-friendly

Improved compliance
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Large Patient Population Ripe for Conversion to AFREZZA

4.2 million Prandial Insulin Switches
Type 1 and Type 2 patients currently on RAA or Premix

1.7 million New-to-Intensification

Type 2 basal-only patients who could benefit from insulin intensification

15.2 million New-to-Insulin

Type 2 insulin-nave patients who could benefit from insulin ~40% of patients are out of glycemic control ~500,000 patients convert to insulin annually
2014 MannKind Corporation. All rights reserved. No copying or distribution of this material may be made without written consent of MannKind Corporation.

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First-in-Class Ultra Rapid-Acting Insulin

Ideal PK and PD Profiles
80 Insulin Concentration (U/mL) 70 60 50 40 30 20 10 0 -60 0 60 120 180 Time (min) 240 300 360 420

AFREZZA RAA lispro Insulin

Shorter time to peak insulin level

4.00 Corrected GIR (mg/kg-min) 3.50 3.00 2.50

AFREZZA

RAA Insulin lispro

2.00
1.50 1.00 0.50

results in glucose utilization more syncronized with typical meal digestion

MKC-TI-116 Type 1 Subjects in Euglycemic Clamp
12

0.00 -60

60

120

180 Time (min)

240

300

360

420

2014 MannKind Corporation. All rights reserved. No copying or distribution of this material may be made without written consent of MannKind Corporation.

Preferred Patient Experience

Small, discreet, easy-to-use inhaler No injection required

No cleaning required
Breath powered Efficient delivery to deep lung

Minimal training needed

Disposed after 15 days of use

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Increasing Demand for Faster Insulin and Interest in AFREZZA

We need insulins that work faster than current rapid-acting analogs.
100% 90% 80% 70% 60% 50% 40% 30% 20% 10% 0%

Assuming regulatory approval, how likely are you to use AFREZZA in your practice in the future?
100% 90%

94%

80% 70% 60% 50% 40%

95%

% of Physicians

48% 28%

30%
20%

4%

10% 0%

Yes

No

2008

2009

2010

Source: Close Concerns, Diabetes Close Up; HCP Survey ADA 2008, 2009, 2010.
2014 MannKind Corporation. All rights reserved. No copying or distribution of this material may be made without written consent of MannKind Corporation.

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2013 Resubmission
Addresses

FDA Complete Response Letters efficacy using Gen2 device

Demonstrates Builds

on previously submitted NDA

from MedTone to Gen2 for pulmonary

Bridges

safety
Resubmission Advisory

date: October 13, 2013

Committee date

Now Confirmed - April 1, 2014

PDUFA

date: April 15, 2014

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Clinical Studies Designed to Address Complete Response Letter

You should conduct two randomized, controlled phase 3 trials with the Gen2 device, one in patients with type 1 diabetes and the other in patients with type 2 diabetes. At least, one of these trials should include a treatment group using the MedTone inhaler so that we can obtain a head-to-head comparison of the pulmonary safety data for the two devices.
Complete Response Letter January 18, 2011

MedTone

Possible AFREZZA users may be patients with type 2 diabetes who have failed oral antidiabetic medications and who prefer to add an inhaled insulin product with the goal of delaying the need for injectable antidiabetic therapy. Overall, the type 2 diabetes Study should focus on the most likely users of AFREZZA among type 2 patients so that results can be the most generalizable.
End of Review meeting May 4, 2011

Gen2

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Pivotal Type 1 Diabetes Trial

MKC 171
Primary Endpoint Non-inferiority in reduction of A1c vs. rapid-acting analog, both in basal-bolus regimen
All AFREZZA treated subjects switch to prandial insulin aspart

All subjects switch to prandial insulin aspart

AFREZZA-Gen2 + Basal insulin (N=174)

Screening Phase

Insulin aspart + Basal insulin (N=170)

Pre-Treatment Phase

AFREZZA-MedTone + Basal insulin (N=174)

4-Week Basal Optimization

12-Week Prandial Insulin Optimization with continued Basal Titration

12-Week Stable Insulin Dosing

4-Week Follow-Up

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Achieved Primary Endpoint of Non-Inferiority

AFREZZA HbA1c reduction was non-inferior to insulin aspart
AFREZZAGen2 (N=174)
7.94 7.73 -0.21

Time Point Baseline Week 24 Week 24 Baseline

Statistics Adj. Mean Adj. Mean Adj. Mean Change 95% CI

Insulin aspart (N=170)

7.92 7.52 -0.40

AFREZZA Insulin aspart

0.19 (0.02, 0.36)

Source: Study 171

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Less Risk of Hypoglycemia

Significantly fewer patients experienced severe hypoglycemia

Lower risk of overall hypoglycemia
40% 30% 20% 10% 0%
Afrezza Novolog
18%

Incidence of Severe Hypoglycemia %

Event Rate of Total Hypoglycemia

p = 0.0156

20 16 12 8 4 0

p < 0.0001

29%

14.0 9.8

Afrezza

Novolog

Source: Study 171

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Comparable FEV1 Changes

Gen2 and MedTone inhalers have comparable, clinically insignificant changes in pulmonary function Both arms return to comparator treatment line after discontinuation
0.4

Mean Change from Baseline in FEV1 (L)

0.3

AFREZZA-Gen2 AFREZZA-MedTone Insulin aspart

0.2
0.1 0.0 -0.1 -0.2 -0.3 -0.4 Baseline Week 12 Week 24 Week 28

Source: Study 171

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Study 171 Conclusions

AFREZZA is non-inferior to insulin aspart with regard to HbA1c lowering

AFREZZA demonstrated advantages both in terms of hypoglycemia and weight Study 171 establishes a bridge for the Gen2 inhaler to the safety data from the prior submissions

MKC-TI-171
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Pivotal Type 2 Diabetes Trial

MKC 175
Primary Endpoint Demonstrate superior HbA1c reductions following the addition of AFREZZA vs. inhaled placebo to a regimen of one or more oral antidiabetic agents
All Subjects Switch Back to Usual Care

Randomization

Orals + AFREZZA (N=177)

Screening Phase

Pre-Treatment Phase

Orals + Placebo (N=176)

Oral Run-In 6 Weeks

12-Week Dose Titration

12-Week Stable Dosing

Follow-Up 4 Weeks

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Achieved Primary Endpoint of Superior A1c Lowering

Trial in patients poorly controlled on oral agents Type 2 registration trial designed as superiority
0 -0.2 -0.4 -0.6

HbA1c Change from Baseline

-0.8
-1
Afrezza + oral agents Placebo + oral agents

Source: Study 175

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Study 175 Conclusion

For patients with type 2 diabetes who are insufficiently treated with oral antidiabetic agents, the addition of AFREZZA produces a significant reduction in HbA1c, making it an effective first insulin

MKC-TI-175
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Safety Summary

AFREZZA safety is supported by extensive clinical program involving more than 5,600 patients and healthy volunteers for up to two years AFREZZA is well tolerated
Most common adverse event is mild, throat-clearing cough

No clinically meaningful differences in pulmonary function compared to usual care

Small, non-progressive and resolves after discontinuation

Observed cancer rate does not exceed the expected rate in a similar population No increase in cardiovascular risk
0.96 Relative Risk for all diabetes patients
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Danbury, CT Production Capabilities

Launch
Full

capacity: up to 375 million cartridges per year

capacity: up to 2 billion cartridges per year (capex required)
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2014 MannKind Corporation. All rights reserved. No copying or distribution of this material may be made without written consent of MannKind Corporation.

Financial Summary

Cash and cash equivalents of $70.8 million at 12/31/13

Repaid $115 million convertible debt in December 2013

$30 million available under line of credit from Mann Group LLC
$40 million debt funding (2nd tranche) from

Deerfield converted to common shares in December 2013 and January 2014

Projected cash burn rate of ~$10-12 million per month reflects continued ramp towards commercialization
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2014 MannKind Corporation. All rights reserved. No copying or distribution of this material may be made without written consent of MannKind Corporation.

AFREZZA Takeaways
Blockbuster potential
Large and growing patient population Poorly met medical need

A new class of insulin therapy

Ultra rapid-acting insulin that mimics physiology Offers glycemic control without increased risk of hypoglycemia and weight gain Delivered through discreet and easy-to-use inhaler

PDUFA date: April 15, 2014

FDA confirmation of protocols using new, advanced inhaler Completed two clinical trials achieved primary endpoints
2014 MannKind Corporation. All rights reserved. No copying or distribution of this material may be made without written consent of MannKind Corporation.

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Our focus is patients, our passion is innovation

MannKind Corporation

2014 MannKind Corporation. All rights reserved. No copying or distribution of this material may be made without written consent of MannKind Corporation.

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