#1COPYRIGHT © ABCELLERA CORPORATE OVERVIEW BLOOM BURTON & CO. HEALTHCARE INVESTOR CONFERENCE May 2, 2022 AbCellera#2CORPORATE OVERVIEW COPYRIGHT © ABCELLERA 2 DISCLAIMER This presentation contains forward-looking statements, including statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. The forward-looking statements are based on management's beliefs and assumptions and on information currently available to management. All statements contained in this presentation other than statements of historical fact are forward-looking statements, including statements regarding our ability to develop, commercialize and achieve market acceptance of our current and planned products and services, our research and development efforts, and other matters regarding our business strategies, use of capital, results of operations and financial position, and plans and objectives for future operations. In some cases, you can identify forward-looking statements by the words "may," "will," "could," "would," "should," "expect," "intend," "plan," "anticipate," "believe," "estimate," "predict," "project," "potential," "continue," "ongoing" or the negative of these terms or other comparable terminology, although not all forward-looking statements contain these words. These statements involve risks, uncertainties and other factors that may cause actual results, levels of activity, performance, or achievements to be materially different from the information expressed or implied by these forward-looking statements. These risks, uncertainties and other factors are described under "Risk Factors," "Management's Discussion and Analysis of Financial Condition and Results of Operations" and elsewhere in the documents we file with the Securities and Exchange Commission from time to time. We caution you that forward-looking statements are based on a combination of facts and factors currently known by us and our projections of the future, about which we cannot be certain. As a result, the forward-looking statements may not prove to be accurate. The forward-looking statements in this presentation represent our views as of the date hereof. We undertake no obligation to update any forward-looking statements for any reason, except as required by law.#3CORPORATE OVERVIEW COPYRIGHT © ABCELLERA 3 WE ARE A TECHNOLOGY COMPANY AbCellera was founded after spending more than 12 years working on technology for biomedical research. We wanted our work to really matter. We looked for the place where technology makes the difference.#4CORPORATE OVERVIEW COPYRIGHT © ABCELLERA 4 IMMUNOLOGY IS THE KILLER APP FOR FOR SINGLE-CELL ANALYSIS ANTIBODY THERAPEUTICS MARKET $170B 10% CAGR for 30+ YRS 100+ approved drugs 40+ blockbusters#5CORPORATE OVERVIEW COPYRIGHT © ABCELLERA 5 сл ILLUSTRATIVE DRUG DEVELOPMENT INVESTMENT PROFILE LONG. EXPENSIVE. RISKY. Years since program start Stage of program development Technology intensive 1y 2y Discovery to IND 3y 4y 5y Phase 1 6y 7y Phase 2 8y 9y 10y Phase 3 POS: >5% 11y 12y 13y 14y 15y 16y 17y 18y Commercial Sales Peak sales ~$1B 19y 20y 21y#6CORPORATE OVERVIEW COPYRIGHT © ABCELLERA 6 TECHNOLOGY AS A LEVER TARGET TO IND IS ONE OF THE MOST COMPLEX & TECHNOLOGY INTENSIVE PATHS IN ANY SECTOR Target Identification IDEATION Drug Discovery regulations, technology, science, manufacturing, lab space, talent PRODUCT CREATION 3 to 5 years 1000+ steps Clinical Development PRODUCT TESTING 7 to 10 years#7CORPORATE OVERVIEW COPYRIGHT © ABCELLERA 7 HOW DID THE INDUSTRY GET HERE? TECHNOLOGY FOR DISCOVERY HAS BEEN NEGLECTED First mAB 0 Billion Muromonab-CD3 (Orthoclone OKT3) anti-CD3 for kidney transplantation rejection treatment Rituximab (Rituxan) anti-CD20 for Non-Hodgkin lymphoma Trastuzumab (Herceptin) anti-HER2 for BC Infliximab (Remicade) anti-TNF alpha for Crohn's disease Adalimumab (Humira) anti-TNF alpha for RA Bevacizumab (Avastin) VEGF-A for CRC Ranibizumab (Lucentis) VEGF-A for macular degeneration 1975 1981 1986 1994 1997 1998 2002 2003 2004 2006 2007 2009 2010 Source: Development of therapeutic antibodies for the treatment of diseases 2011 Pembrolizumab (Keytruda) anti-PD-1 for melanoma 2012 2013 2014 2015 2016 2017 2018 2019 Market Value of therapeutic antibodies in 2025 300 Billion#8CORPORATE OVERVIEW COPYRIGHT © ABCELLERA 8 WE ASKED OURSELVES... CAN IT BE BUILT BETTER? Existing workflows are built unintentionally as a by-product of drug development, and are still based on workflows from the 1980's. If you make this your business, if you start from a clean slate and take advantage of modern technologies, it is obvious that you can build a much better front end for therapeutic antibody drug development.#9CORPORATE OVERVIEW COPYRIGHT © ABCELLERA 9 WE ASKED OURSELVES... IS IT VALUABLE? + Accelerating approval of an average antibody drug by 1 year could be worth more than $200M in NPV + Being first to market could easily be billions in sales, profit, and value + Drugging the undruggable could unlock >$100 billion in new market opportunities + Saving small biotechs from reinventing the wheel could be worth more than $50 million#10CORPORATE OVERVIEW COPYRIGHT © ABCELLERA 10 OUR STRATEGY BE THE BEST IN THE WORLD FROM TARGET TO IND TARGETS SPECIFICATIONS WORKFORCE IND Engine TECHNOLOGY SOFTWARE + DATA SCIENCE INFRASTRUCTURE 2x faster solve the unsolvable highest quality unprecedented scale COMPOSITION OF MATTER Patentable DNA sequence of the drug IND Investigational New Drug Application DRUG SUBSTANCE GMP material for clinical testing#11CORPORATE OVERVIEW COPYRIGHT © ABCELLERA 11 STRATEGY DICTATES THE BUSINESS MODEL We are building a large diversified portfolio that we believe will generate long-term value and superior returns without the volatility and risks normally associated with drug development. Time Investment Revenue Probability of Success Traditional Biotech Model 9-12 years $900M NO revenue 5% AbCellera's Business Model 13 years LARGE investments in capabilities LITTLE revenue in first decade HIGH#12CORPORATE OVERVIEW COPYRIGHT © ABCELLERA 12 WHY ISN'T ANYONE DOING THIS? IT'S INCREDIBLY HARD & UNFUNDABLE In hindsight, the honest pitch in 2012 to rebuild the front end of biotech would have been... ~13 years + >$1 billion No guarantees you can assemble the technology. No guarantees can assemble the right people. No guarantees the platform will be validated. No surprise. No one wanted to invest.#13CORPORATE OVERVIEW COPYRIGHT © ABCELLERA CONFIDENTIAL 13 FUNDING THE UNFUNDABLE OVER $900M IN EQUITY & NON-DILUTIVE CAPITAL 2012 founded 2014 Closed ~$900K Seed Round AbCellera 2017 Approved funding for $30M DARPA P3 Project 2018 Closed $10M Series A led by DCVC Bio 2020 Closed $105M Series A2 Approved funding for $126M Government of Canada Project $90M convertible note Completed $555M IPO on the Nasdaq#14CORPORATE OVERVIEW COPYRIGHT © ABCELLERA 14 COVID-19 PROGRAM VALIDATED THE PLATFORM & CAPITAL TO COMPLETE THE STACK AbCellera co-developed two antibody treatments authorized by the U.S. FDA to treat COVID-19. bamlanivimab U.S. FDA Authorization: November 2020 At the start of the COVID-19 pandemic in March 2020, AbCellera made a conscious decision to first prioritize speed in getting therapies out to patients. This resulted in the discovery of bamlanivimab, the first COVID-19 antibody to reach the clinic and to receive Emergency Use Authorization by the FDA. Bamlanivimab, alone and with other antibodies, has treated an estimated 1 million patients, preventing COVID-19- related hospitalizations and death. bebtelovimab U.S. FDA Authorization: February 2022 AbCellera anticipated resistant strains would emerge and continued our screening efforts to build a collection of several thousand diverse candidate antibodies. In early 2021, responding to the emergence of new variants, we began to search this library to find a next-generation solution, this time prioritizing maximum possible potency and breadth of neutralization. This effort resulted in the discovery and the Emergency Use Authorization of bebtelovimab. In addition to neutralizing every known variant of concern, bebtelovimab is believed to be the most potent antibody in development against the Omicron variant and the BA.2 subvariant.#15CORPORATE OVERVIEW COPYRIGHT © ABCELLERA 15 OTHERS ARE PULLING BACK. WE'RE INVESTING IN THE FUTURE. >$720M IN CASH, CASH EQUIVALENTS & MARKETABLE SECURITIES ~$500M IN TECH DEVELOPMENT & ACQUISITIONS BY END OF 2022 KIMTECH 600K+ SQ.FT. OF FACILITIES (total lab, office, & manufacturing spaces by 2024) 400+ EMPLOYEES COND PROTEINS#16CORPORATE OVERVIEW COPYRIGHT © ABCELLERA 16 WHERE WE ARE: OUR TECH STACK TODAY WE'VE CREATED A BEST-IN-WORLD TECHNOLOGY FROM DRUG TARGET TO LEAD CANDIDATE 1 SOURCE immune responses from multiple species 2 SEARCH millions of immune cells LEADS down-selection 3 DECODE hundreds of target-specific antibodies 4 ANALYZE hundreds to find dozens of candidates with desired properties 5 ENGINEER a few characterized & engineered leads DELIVER the best antibody drug candidates DATA ACCUMULATED#17CORPORATE OVERVIEW COPYRIGHT © ABCELLERA 17 SOURCE ENABLING TECHOLOGIES Optimized Immunization from any species, any target POWERED BY TRIANNI* ** Alloy Therapeutics TetraGenetics* SEARCH High-Throughput Single-Cell Screening with customizable secretion and functional assays AbCellera *** DECODE Automated Single-Cell Genomics & Repertoire Sequencing performed in parallel Lineage Biosciences' IgG Seq Platform* ANALYZE Customized Bioinformatics, High-Throughput Expression & Bioanalytics of high-confidence paired chains 18 CELIUM *** ENGINEER Protein Engineering & Multispecifics Development to create new antibody formats and optimize lead candidates OrthoMab Bispecific Platform* DATA ACCUMULATED * acquired ** in-licensed *** proprietary / patented#18CORPORATE OVERVIEW COPYRIGHT © ABCELLERA 18 WHERE WE'RE GOING: COMPLETING OUR TECH STACK FORWARD INTEGRATION TO ACCELERATE DRUG DEVELOPMENT AbCellera Development 2012-2021: Antibody Discovery Tech Stack 4 SOURCE SEARCH DECODE ANALYZE ENGINEER 2021-2024: Preclinical to IND Expansion into GMP / CMC Manufacturing el Partner Development Phase 1, 2, 3, Approval#19CORPORATE OVERVIEW COPYRIGHT © ABCELLERA 19 UNLOCKING NEW DRUG CLASSES WITH TECH Recent acquisitions successfully integrated into our tech stack are being leveraged to unlock new programs. ; : P CD3-binding antibodies T CELL ENGAGERS GPCRs & ION CHANNELS ******/...is tumor-binding antibodies Enabled by the following acquisitions: OrthoMab Bispecific Platform Acquired in 2020 TRIANNI Acquired in 2020 TetraGenetics Acquired in 2021#20CORPORATE OVERVIEW COPYRIGHT © ABCELLERA 20 DISCLOSED PARTNERSHIPS PARTNERING WITH THE BEST DRUG DEVELOPERS OF ALL SIZES We forge partnerships with large cap pharmaceutical companies, biotechnology companies of all sizes, and non-profit and government organizations through flexible deal structures: + royalties & milestones equity / equity-like option to invest moderna gsk NOVARTIS igm biosciences BILL & MELINDA GATES foundation EMPIRICO A NEXT GENERATION THERAPEUTICS COMPANY Autolus TACHYON Lilly EVEREST MEDICINES SANOFI KODIAK DARPA biotech Lyell teva GILEAD QEQR™ REMAKING MEDICINE Pfizer Ablynx A SANOFI COMPANY DENALI Invetx MERCK REGENERON#21CORPORATE OVERVIEW COPYRIGHT © ABCELLERA 21 ILLUSTRATIVE REVENUE PROFILE FOR ONE SUCCESSFUL PARTNERED PROGRAM AbCellera participation in programs is strongly weighted towards downstream success. Years since program start Stage of program development 1y research fees $3 million 2y 3y discovery & preclinical 4y phase 1 5y clinical milestones $9 million 6y 7y phase 2 8y 9y phase 3 10y approval & commercial milestones $85 million 11y 12y 13y commercial sales || 14y Key assumptions, hypothetical: $1.7 billion peak sales, no price inflation, no patient population growth, 5% royalty, 6 years to peak sales, 5 years at peak sales, US approval only royalties in aggregate of $765 million 15y 16y 17y 18y 19y 20y 21y#22CORPORATE OVERVIEW COPYRIGHT © ABCELLERA 22 LARGE DIVERSIFIED PORTFOLIO IN NEXT-GEN ANTIBODY THERAPIES Portfolio of 131 programs with downstream participation is diversified across the following therapeutic areas: 39% human health, to be determined n = 51 58% oncology 50% human health, known n = 65 17% neurology 6% immunology 6% ophthalmology 5% infectious disease 3% dermatology 5% other 11% animal health n = 15#23CORPORATE OVERVIEW COPYRIGHT © ABCELLERA 23 FOCUSSED ON KEY VALUE DRIVERS 펀 Probability of Success Increase the probability of clinical and commercial success by identifying antibodies with superior biophysical properties. Speed Increase diversity at the start of discovery to maximize the likelihood that suitable leads are found on the first pass, avoiding unnecessary cyclical efforts. Integrating all steps of the process seamlessly results in faster workflows. % Portfolio Volume Large, diversified portfolio generates long-term value and superior returns without the volatility and risks normally associated with drug development. 1 Deal Structures Capture downstream value through royalties and milestones, equity / equity-like participation, and options to co-invest.#24CORPORATE OVERVIEW COPYRIGHT © ABCELLERA 24 WE'RE A ONE-OF-A-KIND COMPANY WITH FAMILIAR THEMES Build value through a diverse portfolio of future revenue streams Create a competitive advantage through vertical integration Make long-term investments in technology to accelerate development#2525 COPYRIGHT © ABCELLERA CORPORATE OVERVIEW Ab YOU THANK