FINANCIAL INFORMATION CONCERNING THE GROUP’S ASSETS AND LIABILITIES, FINANCIAL POSITIONAND PROFITS AND LOSSES 20 JUSTIFICATION OF ASSESSMENTS - KEY AUDIT MATTERS In accordance with the requirements of articles L. 823-9 and R. 823-7 of the French Commercial Code (Code de commerce) relating to the justification of our assessments, we bring your attention to the key audit matters relating to risks of material misstatement that, in our professional judgment, were of most significance in the audit of the consolidated financial statements of the current period, as well as our responses to those risks. These matters were addressed in the context of our audit of the financial statements as a whole, and in forming our opinion thereon. We do not provide a separate opinion on specific elements, accounts or items of the financial statements. Recording of research and development costs Identified risk Research and development costs represent a significant component of the Group’s consolidated financial statements, considering Company’ activity and its current development phase, as they account for 67 % of total operating expenses. These expenses mainly include external subcontracting costs (including preclinical and clinical studies in particular) or product manufacturing as well as personnel costs. There may be discrepancies between the achievement of subcontracting or manufacturing services and their related invoicing. The need of estimating the amount of services already achieved but not invoiced, or at the opposite, services already invoiced but not realized, leads to a risk of misevaluation of the invoices to be received or prepaid expenses regarding these external costs at year end. Therefore, we considered that the accounting of external subcontracting costs and product manufacturing is a key audit matter. Audit procedures implemented to deal with identified risks As part of our audit, we reviewed the internal control procedures related to the accounting of subcontracting and manufacturing expenses in order to identify control activities implemented by Management and evaluate their design. These audit works were supplemented by procedures, on a sampling basis, of account payable confirmation requests and analysis of subcontracting invoices received before and after year end, in order to identify which exercise they related to and evaluate the correct linkage with fiscal year. SPECIFIC VERIFICATION CONCERNING THE GROUP PRESENTED IN THE MANAGEMENT REPORT We have also verified, in accordance with professional standards applicable in France, the information concerning the Group presented in the Board’s Management Report. We have no matters to report as its fair presentation and its consistency with the consolidated financial statements. REPORT ON OTHER LEGAL AND REGULATORY REQUIREMENTS Appointment of the Statutory Auditors We were appointed Statutory Auditors of GENSIGHT BIOLOGICS by the bylaws of April 17, 2012 for DELOITTE & ASSOCIÉS and by the Shareholders’ Meeting of May 19th, 2016 for BECOUZE. As of December 31, 2017, DELOITTE & ASSOCIÉS and BECOUZE were respectively in the5 year and 2 year of total uninterruptedth nd engagement, including two years of joint work since securities of the Company were admitted to trading on a regulated market. RESPONSIBILITIES OF MANAGEMENT AND THOSE CHARGED WITH GOVERNANCE FOR THE CONSOLIDATED FINANCIAL STATEMENTS Management is responsible for the preparation and fair presentation of the consolidated financial statements in accordance with International Financial Reporting Standards as adopted by the European Union, and for such internal control as Management determines is necessary to enable the preparation of consolidated financial statements that are free from material misstatement, whether due to fraud or error. In preparing the consolidated financial statements, Management is responsible for assessing the Company’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless it is expected to liquidate the Company or to cease its operations. The Audit Committee is responsible for monitoring the financial reporting process and the effectiveness of internal control and risk Management systems and, where applicable, its internal audit, regarding the accounting and financial reporting procedures. The consolidated financial statements have been approved by the Board of Directors. 212– GENSIGHT BIOLOGICS – 2017 Registration Document