#1COPYRIGHT © ABCELLERA Q3 2023 BUSINESS UPDATE NOVEMBER 2, 2023 AbCellera#2Q3 2023 BUSINESS UPDATE COPYRIGHT © ABCELLERA 2 DISCLAIMER This entation 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.#3Q3 2023 BUSINESS UPDATE COPYRIGHT © ABCELLERA 3 Q3 2023. BUSINESS UPDATE SUMMARY. Continued focus on high-value programs & strategic partnerships $813M 182 110 10 in total cash, cash equivalents, & marketable securities cumulative programs under contract cumulative partnered programs started molecules in the clinic#4Q3 2023 BUSINESS UPDATE COPYRIGHT © ABCELLERA 4 PROGRAMS Two AbCellera-led programs advancing into IND-enabling studies. MOLECULE ABCL575 ABCL635 TARGET OX40L undisclosed GPCR or ion channel INDICATION atopic dermatitis undisclosed THERAPEUTIC AREA immunology and inflammation metabolic and endocrine conditions POTENTIAL DIFFERENTIATION best in class first in class POTENTIAL MARKET SIZE $17B by 2032* >$2B * Source: IQVIA#5Q3 2023 BUSINESS UPDATE COPYRIGHT © ABCELLERA 5 PARTNERSHIPS Strategic collaborations with new and existing partners. REGENERON 8 programs under contract QMULTIPLE INDICATIONS 4 new 2 completed Regeneron has exercised its rights to advance antibody candidates into further preclinical development Incyte 1 program under contract Q ONCOLOGY#6Q3 2023 BUSINESS UPDATE COPYRIGHT © ABCELLERA 6 PRIORITIES Delivering on stated business objectives. ELECT candidates for IND-enabling studies EXECUTE strategic partnerships ADVANCE T-cell engager platform#7o COPYRIGHT © ABCELLERA Q3 2023 FINANCIALS UPDATE#8FINANCIALS Q3 2023 BUSINESS UPDATE COPYRIGHT © ABCELLERA 8 Continuing portfolio growth. Total # of Programs Under Contract 182 Total # of Discovery Partners 42 Cumulative # of Partnered Program Starts 110 100 90 80 70 60 50 40 30 20 10 O 1 2015 16 17 18 19 20 21 22 110 WITHOUT downstream participation + WITH downstream participation 23 Q3 10 9 00 8 7 6 5 4 3 2 1 O Cumulative # of Molecules in the Clinic 2015 16 17 18 19 20 21 22 10 23 Q3 Note: Showing year-end figures, except for most-recent quarter. Historical results are not necessarily indicative of future results.#9FINANCIALS Q3 2023 BUSINESS UPDATE COPYRIGHT © ABCELLERA 9 Now 10 molecules in the clinic. MOLECULE bamlanivimab (LY-CoV555) bebtelovimab (LY-CoV1404) TAK-920/DNL919 undisclosed undisclosed NBL-012 NBL-015/FL-301 NBL-020 NEW NBL-028 IVX-01 STAGE Marketed, Emergency Use Authorization (EUA) Marketed, Emergency Use Authorization (EUA) Phase 1 Phase 1 Phase 1 Phase 1 Phase 1 Phase 1 IND/CTA authorized Clinical field study THERAPEUTIC AREA ● ● ● ● ● infectious disease: COVID-19 ● infectious disease: COVID-19 neurology: Alzheimer's Disease neuroscience undisclosed dermatology gastrointestinal disease immunology oncology • oncology oncology animal health PARTNER Lilly DENALI teva undisclosed NovaRock BOTHERAPEUTICS Invetx PROGRAM TYPE AbCellera-initiated program PARTNERED AbCellera partner-initiated discovery Trianni license AbCellera partner-initiated discovery As of September 30, 2023#10FINANCIALS Q3 2023 BUSINESS UPDATE COPYRIGHT © ABCELLERA 10 $7M total revenue, predominantly from discovery activity. Revenue USD ROYALTIES MILESTONES LICENSING RESEARCH FEES $101.4M $7.5M Q3 2022 $6.6M $6.4M Q3 2023 -$0.2M#11FINANCIALS Q3 2023 BUSINESS UPDATE COPYRIGHT © ABCELLERA 11 Operating expenses reflect ongoing investments, predominantly in R&D. Operating Expenses USD RESEARCH & DEVELOPMENT $26.6M +$11.3M Q3 2022 $37.9M Q3 2023 SALES & MARKETING $3.1M Q3 2022 +$0.4M $3.5M Q3 2023 GENERAL & ADMIN $13.8M Q3 2022 +$0.6M $14.4M Q3 2023#12FINANCIALS Q3 2023 BUSINESS UPDATE COPYRIGHT © ABCELLERA 12 Net loss of $29M; equivalent to ($0.10) per share (basic & diluted). Earnings USD NET EARNINGS $26.6M Q3 2022 -$28.6M Q3 2023 EARNINGS PER SHARE: BASIC $0.09 Q3 2022 -$0.10 Q3 2023 EARNINGS PER SHARE: DILUTED $0.08 Q3 2022 -$0.10 Q3 2023#13FINANCIALS Q3 2023 BUSINESS UPDATE COPYRIGHT © ABCELLERA 13 Over $800M in total cash, equivalents, and marketable securities. Cash Flows USD $915M $500M Marketable Securities $387M Cash & Equivalents $28M* December 31, 2022 ($24M) OPERATING $102M Marketable Securities (net) $95M Other ($197M) INVESTING $7M FINANCING $OM FX $813M $613M Marketable Securities $172M Cash & Equivalents $27M* September 30, 2023 Restricted cash (including restricted cash in other assets)#1414 COPYRIGHT © ABCELLERA Q3 2023 BUSINESS UPDATE YOU THANK#15EARNINGS CALL SUMMARY Q3 2023 BUSINESS UPDATE COPYRIGHT © ABCELLERA 1 EARNINGS CALL SUMMARY Note: This document contains a condensed summary of AbCellera's 2023-11-02 earnings call. It should be read in conjunction with, and in the context of, the contents of the call itself. AbCellera achieves a significant company milestone, advancing two assets, ABCL575 and ABCL635, from AbCellera-led programs into IND-enabling studies. ● ABCL575 targets the OX40 ligand (OX40L) and has been designed as a potential best-in-class therapy for atopic dermatitis and other indications in autoimmunity and inflammation. ABCL575 was discovered as part of AbCellera's 2021 co-development collaboration with EQRx. AbCellera took ownership of the program in Q3 2023. ABCL575 has been designed with potency, PK, and developability to enable less-frequent dosing than benchmark molecules. ● ● ● ABCL635 is the first pipeline asset from the company's GPCR and lon Channel platform. ABCL635 hits an undisclosed target with an indication in metabolic and endocrine disorders. Overall market estimated at over $2 billion in annual sales. ● ● AbCellera anticipates potential IND submissions for ABCL575 and ABCL635 in 2025. AbCellera anticipates additional development candidates from AbCellera-led programs to advance into late-stage preclinical and IND-enabling studies in 2024 and 2025.#16EARNINGS CALL SUMMARY Q3 2023 BUSINESS UPDATE COPYRIGHT © ABCELLERA 2 AbCellera maintains committed to accelerating high-value programs from strategic partnerships, and announced new and expanded collaborations with new and existing strategic partners. AbCellera's financial position continues to strongly support execution of strategy, including investments in downstream capabilities and pre-clinical- and early-clinical development of assets. ● • AbCellera expanded its existing partnership with Regeneron, with four new programs under contract. Under its original agreement with AbCellera, Regeneron exercised its rights to advance antibody candidates from two completed discovery programs, including one against a GPCR target. ● AbCellera announced a new partnership with Incyte, with one new program under contract for an indication in oncology. ● ● AbCellera announced a new co-development partnership with Prelude to develop novel, precision antibody-drug conjugates (ADCs) for oncology. Business Metrics - 4 new program starts in Q3 2023, for a cumulative total of 110 with 42 unique partners; one molecule advanced into the clinic, bringing the cumulative total to ten. Revenue - Approximately $7 million in total revenue, driven by research fees generated by the partnership business. Operating Expenses - Approximately $38 million in R&D expenses, reflecting growth in program execution, continuing platform development, and investment in internal programs. Approximately $4 million in S&M expenses. Approximately $14 million in G&A expenses, reflecting good operating leverage. Earnings - Net loss of approximately $29 million, reflective of continued investment in the business in the absence of royalty revenues. ● ● ● Cash Flows - With over $800 million in total cash, cash equivalents, and marketable securities as well as unused portion of previously-secured government funding, AbCellera continues to have over $1 billion in total available liquidity.