OBALON BALLOON SYSTEM The FIRST and ONLY swallowable, FDA-approved 3-balloon system for weight loss. The Obalon Balloon System is a swallowable intragastric balloon system indicated for temporary use to facilitate weight loss in adults with obesity (BMI of 30 – 40 kg/m2) who have failed to lose weight through diet and exercise. The System is intended to be

used as

PHYSICIAN LOGIN

IMPORTANT SAFETY INFORMATION The Obalon Balloon System is intended for adults with a body mass index (BMI) of 30 to 40 kg/m 2 willing to follow a diet and exercise program. All Obalon balloons must be removed in 6 months.

OBALON NEAR YOU

IMPORTANT SAFETY INFORMATION The Obalon Balloon System is intended for adults with a body mass index (BMI) of 30 to 40 kg/m 2 willing to follow a diet and exercise program. All Obalon balloons must be removed in 6 months. NON SURGICAL WEIGHT LOSS SOLUTIONS IMPORTANT SAFETY INFORMATION The Obalon Balloon System is intended for adults with a body mass index (BMI) of 30 to 40 kg/m 2 willing to follow a diet and exercise program. All Obalon balloons must be removed in 6 months.

BOARD OF DIRECTORS

Kim Kamdar, Ph.D. has served as a member of our board of directors since January 2008. Dr. Kamdar is currently a partner at Domain Associates, LLC, a venture capital firm, where she has worked since 2005. Prior to Domain, Dr. Kamdar was a Kauffman Fellow with MPM Capital, as well as a research director at Novartis International AG.

CONTACT US - OBALON

IMPORTANT SAFETY INFORMATION The Obalon Balloon System is intended for adults with a body mass index (BMI) of 30 to 40 kg/m 2 willing to follow a diet and exercise program. All Obalon balloons must be removed in 6 months. FDA APPROVED WEIGHT LOSS FDA-approved balloon system. for weight loss. The Obalon Balloon System is a swallowable intragastric balloon system indicated for temporary use to facilitate weight loss in adults with obesity (BMI of 30 – 40 kg/m2) who have failed to lose weight through diet and exercise. The System is intended to be used as an adjunct to a

moderate

INVESTOR RELATIONS

Investor Relations. Obalon Therapeutics, Inc. (NASDAQ:OBLN) is a San Diego-based, vertically integrated medical technology company focused on developing and commercializing novel technologies for weight loss. Obalon has launched the first and only FDA-approved swallowable, gas-filled intragastric balloon system for the treatment of obesity. OBALON GAS-FILLED BALLOON NOT SUBJECT OF FOURTH FDA LETTER Obalon reported no device-related serious adverse events (0%) for first 141 patients completing therapy in post-approval study to FDA. SAN DIEGO, April 28, 2020 (GLOBE NEWSWIRE) -- Obalon Therapeutics, Inc. (NASDAQ:OBLN), a vertically integrated medical technology company with the first and only FDA-approved swallowable, gas-filled intragastric balloon system for the treatment of obesity OBALON ANNOUNCES RESTRUCTURING TO STREAMLINE OPERATIONS SAN DIEGO, April 03, 2019 (GLOBE NEWSWIRE) -- Obalon Therapeutics, Inc. (NASDAQ:OBLN), a vertically integrated medical technology company with the first and only FDA-approved swallowable, gas-filled intragastric balloon system for the treatment of obesity, today announced an organizational restructuring intended to refocus activities, streamline operations and OBALON BALLOON SYSTEM The FIRST and ONLY swallowable, FDA-approved 3-balloon system for weight loss. The Obalon Balloon System is a swallowable intragastric balloon system indicated for temporary use to facilitate weight loss in adults with obesity (BMI of 30 – 40 kg/m2) who have failed to lose weight through diet and exercise. The System is intended to be

used as

PHYSICIAN LOGIN

IMPORTANT SAFETY INFORMATION The Obalon Balloon System is intended for adults with a body mass index (BMI) of 30 to 40 kg/m 2 willing to follow a diet and exercise program. All Obalon balloons must be removed in 6 months.

OBALON NEAR YOU

IMPORTANT SAFETY INFORMATION The Obalon Balloon System is intended for adults with a body mass index (BMI) of 30 to 40 kg/m 2 willing to follow a diet and exercise program. All Obalon balloons must be removed in 6 months. NON SURGICAL WEIGHT LOSS SOLUTIONS IMPORTANT SAFETY INFORMATION The Obalon Balloon System is intended for adults with a body mass index (BMI) of 30 to 40 kg/m 2 willing to follow a diet and exercise program. All Obalon balloons must be removed in 6 months.

BOARD OF DIRECTORS

Kim Kamdar, Ph.D. has served as a member of our board of directors since January 2008. Dr. Kamdar is currently a partner at Domain Associates, LLC, a venture capital firm, where she has worked since 2005. Prior to Domain, Dr. Kamdar was a Kauffman Fellow with MPM Capital, as well as a research director at Novartis International AG.

CONTACT US - OBALON

IMPORTANT SAFETY INFORMATION The Obalon Balloon System is intended for adults with a body mass index (BMI) of 30 to 40 kg/m 2 willing to follow a diet and exercise program. All Obalon balloons must be removed in 6 months. FDA APPROVED WEIGHT LOSS FDA-approved balloon system. for weight loss. The Obalon Balloon System is a swallowable intragastric balloon system indicated for temporary use to facilitate weight loss in adults with obesity (BMI of 30 – 40 kg/m2) who have failed to lose weight through diet and exercise. The System is intended to be used as an adjunct to a

moderate

INVESTOR RELATIONS

Investor Relations. Obalon Therapeutics, Inc. (NASDAQ:OBLN) is a San Diego-based, vertically integrated medical technology company focused on developing and commercializing novel technologies for weight loss. Obalon has launched the first and only FDA-approved swallowable, gas-filled intragastric balloon system for the treatment of obesity. OBALON GAS-FILLED BALLOON NOT SUBJECT OF FOURTH FDA LETTER Obalon reported no device-related serious adverse events (0%) for first 141 patients completing therapy in post-approval study to FDA. SAN DIEGO, April 28, 2020 (GLOBE NEWSWIRE) -- Obalon Therapeutics, Inc. (NASDAQ:OBLN), a vertically integrated medical technology company with the first and only FDA-approved swallowable, gas-filled intragastric balloon system for the treatment of obesity OBALON ANNOUNCES RESTRUCTURING TO STREAMLINE OPERATIONS SAN DIEGO, April 03, 2019 (GLOBE NEWSWIRE) -- Obalon Therapeutics, Inc. (NASDAQ:OBLN), a vertically integrated medical technology company with the first and only FDA-approved swallowable, gas-filled intragastric balloon system for the treatment of obesity, today announced an organizational restructuring intended to refocus activities, streamline operations and NON SURGICAL WEIGHT LOSS SOLUTIONS IMPORTANT SAFETY INFORMATION The Obalon Balloon System is intended for adults with a body mass index (BMI) of 30 to 40 kg/m 2 willing to follow a diet and exercise program. All Obalon balloons must be removed in 6 months.

BMI CALCULATOR

The Obalon Balloon System is a swallowable intragastric balloon system indicated for temporary use to facilitate weight loss in adults with obesity (BMI of 30 – 40 kg/m 2) who have failed to lose weight through diet and exercise.The System is intended to be used as an adjunct to a moderate intensity diet and behavior modification

program.

EVENT - OBALON

IMPORTANT SAFETY INFORMATION The Obalon Balloon System is intended for adults with a body mass index (BMI) of 30 to 40 kg/m 2 willing to follow a diet and exercise program. All Obalon balloons must be removed in 6 months.

LEADERSHIP - OBALON

Andrew Rasdal / President and Chief executive officer. Andrew Rasdal has served as our President and Chief Executive Officer and a member of our board of directors since June 2008. Mr. Rasdal brings more than 25 years of medical technology experience, including serving as CEO of DexCom, Inc., Senior Vice President and President of Vascular for Medtronic, Inc., and Vice President of Marketing OBALON ANNOUNCES FIRST QUARTER 2021 FINANCIAL RESULTS SAN DIEGO, May 12, 2021 (GLOBE NEWSWIRE) -- Obalon Therapeutics, Inc. (NASDAQ:OBLN), a vertically integrated medical technology company with the first and only FDA-approved swallowable, gas-filled intragastric balloon system for the treatment of obesity, today announced its financial results for the first quarter ended March 31, 2021.On January 19, 2020 the

IR OVERVIEW

IR Overview menu. Online IR Kit. FAQs. You can quickly assemble your own Investor Kit by selecting and printing from the following documents. To order printed materials, or request additional investor-related information, complete an information request. Investor Presentation. Fourth REBATE TERMS AND CONDITIONS Obalon Weight Loss Challenge Rebate Program Terms and Conditions. The Obalon September 2018 Weight Loss Challenge is a rebate program that works by providing you (the patient) a $500 instant rebate from your physician and additional potential mail-in rebates from Obalon. OBALON GAS-FILLED BALLOON NOT SUBJECT OF FOURTH FDA LETTER Obalon reported no device-related serious adverse events (0%) for first 141 patients completing therapy in post-approval study to FDA. SAN DIEGO, April 28, 2020 (GLOBE NEWSWIRE) -- Obalon Therapeutics, Inc. (NASDAQ:OBLN), a vertically integrated medical technology company with the first and only FDA-approved swallowable, gas-filled intragastric balloon system for the treatment of obesity

OBALON® BALLOON

LIT -7500 0027 06 Page 4 of 19 • Nutritionist: A trained person who helps others plan what foods to eat that are good for their health. • Obalon Balloon: A balloon-like device used to help with weight loss. It works by taking up space in the stomach. • Sleeve Gastrectomy: A surgical weight loss procedure in which the stomach is reduced to about one quarter of its original size by taking OBALON THERAPEUTICS, INC. united states securities and exchange commission washington, d.c. 20549 form 10-k/a (amendment no. 1) ☒ annual report pursuant to section 13 or 15(d) of the securities exchange act of 1934

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"This was one of the best decisions I ever made. The balloon system helped jump-start my weight loss. Even after the balloons were removed, I continued a diet and exercise program and have lost 91

pounds to date."

LISA WHEALON

Patient (after 12 months)*

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"I have gone from a size 12 to a 6. It feels great not worrying about how my clothes were going to fit."

LISA NINI

Patient*

Lost 39.6 pounds (after 6 months)

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_*Individual results may vary_ PIVOTAL TRIAL HIGHLIGHTS OF 160 PATIENTS1 Patients in the SMART trial lost twice as much weight with Obalon combined with diet and exercise vs. diet and exercise alone. Average weight lost kept off six months after balloons were removed. * COMMERCIAL REGISTRY DATA OF 787 PATIENTS2

Total Body Loss

Commercial weight loss data based on Obalon's physician reported commercial registry. 1. Sullivan et al., Randomized Sham-Controlled Trial of Six-Month Swallowable Gas-Filled Intragastric Balloon System for Weight Loss. Surgery for Obesity and Related Diseases 14 (2018) 1876-1889 2. Moore et al.  (In Press), Clinical Safety and Effectiveness of a Swallowable Gas-filled Intragastric Balloon System or Weight Loss: Consecutively Treated Patients in the Initial Year of US Commercialization.  Surgery for Obesity and Related Diseases. *When combined with an appropriate diet and exercise program

WHAT IS OBALON?

THE FIRST AND ONLY SWALLOWABLE, FDA-APPROVED 3-BALLOON SYSTEM FOR

WEIGHT LOSS.

_The Obalon Balloon System is a swallowable intragastric balloon system indicated for temporary use to facilitate weight loss in adults with obesity (BMI of 30 – 40 kg/m2) who have failed to lose weight through diet and exercise. The System is intended to be used as an adjunct to a moderate intensity diet and behavior modification program. All balloons must be removed 6 months after the first balloon

is placed._

PROVEN WEIGHT LOSS

Patients with the Obalon Balloon System combined with diet & exercise lost approximately twice as much weight as those with diet & exercise

alone.

FDA-APPROVED, NON-SURGICAL First and only swallowable, lightweight balloon system for weight

loss.

JUMP-STARTS LONG-TERM RESULTS Average of 89% of weight loss was kept off six months after balloons were removed, when combined with a moderate intensity diet and

exercise program.1

CONVENIENT, NO DOWNTIME The placement of each balloon typically takes less than 10 minutes and requires no surgery or sedation.

WHAT IS OBALON?

OBALON IN THE MEDIA

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HOW IT WORKS

The Obalon 3-Balloon System helps facilitate weight loss by taking up space in your stomach so you eat less. CHANGE THE WAY YOU THINK ABOUT WEIGHT LOSS.

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OBALON

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IF YOU HAVE THE WILL TO

LOSE THE WEIGHT,

WE HAVE A WAY.

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� 2019 Obalon® Therapeutics. All rights reserved. For U.S. audience

only.

Obalon®, the Obalon® logo and the Obalon® Balloon design are registered trademarks of Obalon® Therapeutics, Inc.

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IMPORTANT SAFETY INFORMATION The Obalon Balloon System is intended for adults with a body mass index (BMI) of 30 to 40 kg/m2 willing to follow a diet and exercise program. All Obalon balloons must be removed in 6 months. Patients with prior weight loss surgeries are not eligible. The most common side effects reported were mild abdominal pain and nausea which typically resolved within two weeks. You must take daily acid-blocking medicine prescribed by your doctor. For full Important Safety Information click on Safety Information and

Patient Labeling

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