#1COPYRIGHT © ABCELLERA FULL YEAR 2022 BUSINESS UPDATE FEBRUARY 21, 2023 AbCellera#2FULL YEAR 2022 BUSINESS UPDATE 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 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.#3FULL YEAR 2022 BUSINESS UPDATE 3 FULL YEAR 2022. BUSINESS UPDATE SUMMARY. 1 ENGINE 10 YEARS 101 PROGRAMS $915M 174 101 8 in total cash, cash equivalents & marketable securities cumulative programs under contract cumulative partnered programs started molecules in the clinic#4FULL YEAR 2022 BUSINESS UPDATE COPYRIGHT © ABCELLERA st 4 AbCellera is an antibody discovery engine that delivers optimal clinical candidates to the clinic - and to patients - with greater precision and speed. HYPOTHESIS Investments in technology can improve the productivity of drug development. PHILOSOPHY Long-term value creation begins with building a great company that can create multiple products.#5FULL YEAR 2022 BUSINESS UPDATE COPYRIGHT © ABCELLERA 5 STRATEGY #1 Be best in world in antibody therapeutics from target to the clinic. STRATEGY #2 Build a large and diversified portfolio of stakes in future antibody therapeutics.#6FULL YEAR 2022 BUSINESS UPDATE COPYRIGHT © ABCELLERA 6 STRATEGY #1 Be best in world in antibody therapeutics from target to the clinic from TARGET TECHNOLOGY DATA SCIENCE THE ENGINE EXPERTS INFRASTRUCTURE INTEGRATION X to PATIENTS 2x faster solve the unsolvable highest quality unprecedented scale#7FULL YEAR 2022 BUSINESS UPDATE COPYRIGHT © ABCELLERA 7 STRATEGY #2 Build a large, diverse portfolio of stakes in future antibody therapies. PARTNER-INITIATED PROGRAMS Discovery Programs Co-Development Programs X TECHNOLOGY DEVELOPMENT Pre-Partnered Programs#8FULL YEAR 2022 BUSINESS UPDATE COPYRIGHT © ABCELLERA 8 PARTNER-INITIATED PROGRAMS Discovery Programs TARGET Partner-initiated DEAL TERMS Upfronts and research fees Clinical milestones Single-digit royalties on net sales ● ● High volume. High diversification. High potential ROI.#9FULL YEAR 2022 BUSINESS UPDATE COPYRIGHT © ABCELLERA 9 PARTNER-INITIATED PROGRAMS Co-Development Programs TARGET Partner-initiated DEAL TERMS Upfronts, clinical milestones, and royalty position PLUS option to co-invest in program development to maintain up to a 50% ownership position ● ● Low volume deals with optionality for concentrated positions.#10FULL YEAR 2022 BUSINESS UPDATE COPYRIGHT © ABCELLERA 10 TECHNOLOGY DEVELOPMENT Pre-Partnered Programs T-Cell Engagers Platform GPCRs & Ion Channels Platform Pandemic Response Platform 5 starts 6 st starts 1 start Technology-development efforts with potential to generate first-in-class, wholly-owned assets.#11FULL YEAR 2022 BUSINESS UPDATE COPYRIGHT © ABCELLERA 11 2 TECHNOLOGY 3 & COMPANY BUILDING 1 3 PARTNERING PARTNERED PROGRAMS Deal quality, not volume Deeper partnerships that get partners to the clinic Execute on and expand existing partnerships PEOPLE & PLATFORM Team development Data science ● ● ● Translational science Manufacturing PRE-PARTNERED PROGRAMS ● ● ● GPCRs and ion channels T-cell engagers Pandemic response (COVID-19) AbCellera's Capital Allocation#12o COPYRIGHT © ABCELLERA FULL YEAR 2022 FINANCIALS UPDATE#13FINANCIALS FULL YEAR 2022 BUSINESS UPDATE COPYRIGHT © ABCELLERA 13 ONE DECADE OF ENGINE BUILDING. investments ~500 employees across 4 countries and 3 continents 650K+ sq.ft. of facilities lab, office, & manufacturing spaces by 2024 $500M+ platform investments capitalization $800M+ in equity raised since 2012 $150M+ in government contracts and financing 30% + held by employees & directors financials $900M+ in total cash, cash equivalents & marketable securities $400M+ in accumulated earnings since 2012 TI KIMTECH#14FINANCIALS FULL YEAR 2022 BUSINESS UPDATE COPYRIGHT © ABCELLERA 14 Strong portfolio growth. Total # of Programs Under Contract 174 Total # of Discovery Partners 40 Cumulative # of Partnered Program Starts 110 100 90 80 70 60 50 40 30 20 10 O 101 2014 2015 2016 2017 2018 2019 2020 2021 2022 WITHOUT downstream participation + WITH downstream participation 8 7 6 LO 5 4. 3 2 1 O Cumulative # of Molecules in the Clinic 8 2014 2015 2016 2017 2018 2019 2020 2021 2022 Note: Showing year-end figures. Historical results are not necessarily indicative of future results.#15FINANCIALS FULL YEAR 2022 BUSINESS UPDATE COPYRIGHT © ABCELLERA 15 Large diversified portfolio in next-gen antibody therapies. 35% human health (TBD) n = 52 57% oncology 55% human health (known) n = 81 15% neurology 11% immunology 5% ophthalmology 4% infectious disease 2% dermatology 6% other 10% animal health n = 15 148 Partner-Initiated Programs under contract with downstream participation are diversified across these therapeutic areas 42% oncology T cell-engagers n = 5 50% undisclosed GPCRs & ion channels n = 6 100% human health n = 12 8% fectious disease pandemic response 12 Pre-Partnered Programs started across these therapeutic areas n=1#16FINANCIALS FULL YEAR 2022 BUSINESS UPDATE COPYRIGHT © ABCELLERA 16 Portfolio includes diverse program types that capture value. PARTNER-INITIATED Discovery Programs 69 Starts 131 Under Contract Co-Development Programs 6 17 Starts With downstream participation Under Contract TECHNOLOGY DEVELOPMENT Pre-Partnered Programs 12, Starts 1 Partnered#17FINANCIALS FULL YEAR 2022 BUSINESS UPDATE COPYRIGHT © ABCELLERA 17 Deepening stakes evidenced by strong growth of royalty rates. Royalty on Net Sales Includes range of royalty and royalty-equivalent rates in each contract, considering sales tiers and step-downs O 5th/95th percentile interquartile range mean * showing partner-initiated programs under contract with downstream participation and partnering-out agreements signed in period 9% 8% 7% 6% 5% 4% 3% 2% 1% 0% 2015 - 2019 n=37* 2020 2022 - n=112*#18FINANCIALS FULL YEAR 2022 BUSINESS UPDATE COPYRIGHT © ABCELLERA 18 Now 8 molecules in the clinic. MOLECULE bamlanivimab (LY-CoV555) bebtelovimab (LY-CoV1404) TAK-920/DNL919 undisclosed NBL-012 NBL-015/FL-301 NEW NBL-020 IVX-01 STAGE Marketed, Emergency Use Authorization (EUA) Marketed, Emergency Use Authorization (EUA) 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 undisclosed dermatology gastrointestinal disease immunology oncology oncology animal health PARTNER Lilly DENALI undisclosed NovaRock BOTHERAPEUTICS Invetx™ PROGRAM TYPE AbCellera pre-partnered program PARTNERED AbCellera partner-initiated discovery Trianni license AbCellera partner-initiated discovery As of December 31, 2022#19FINANCIALS FULL YEAR 2022 BUSINESS UPDATE COPYRIGHT © ABCELLERA 19 $485.4M total revenue, driven by royalties for bebtelovimab. Revenue USD ROYALTIES MILESTONES LICENSING RESEARCH FEES $375.2M 2021 $485.4M $443.0M $40.8M 2022#20FINANCIALS FULL YEAR 2022 BUSINESS UPDATE COPYRIGHT © ABCELLERA 20 Operating expenses reflect ongoing investments. Operating Expenses USD RESEARCH & DEVELOPMENT $62.1M 2021 +$45.8M $107.9M 2022 SALES & MARKETING $6.9M 2021 +$4.4M $11.3M 2022 GENERAL & ADMIN $41.8M 2021 +$13.6M $55.5M 2022#21FINANCIALS FULL YEAR 2022 BUSINESS UPDATE COPYRIGHT © ABCELLERA 21 Net earnings of $158.5M: equivalent to $0.56 (basic) and $0.50 (diluted) per share. Earnings USD NET EARNINGS $153.5M 2021 $158.5M 2022 EARNINGS PER SHARE: BASIC $0.56 2021 $0.56 2022 EARNINGS PER SHARE: DILUTED $0.48 2021 $0.50 2022#22FINANCIALS FULL YEAR 2022 BUSINESS UPDATE COPYRIGHT © ABCELLERA 22 ~900 million in total cash, equivalents, and marketable securities. Cash Flows USD $748M $247M Marketable Securities $476M Cash & Equivalents $25M* 31-Dec-21 $272M OPERATING $253M Marketable Securities (net) $99M Other ($353M) INVESTING ($2M) FINANCING * ($10M) FX $915M $500M Marketable Securities $387M Cash & Equivalents $28M* 30-Dec-22 Restricted cash (including restricted cash in other assets)#2323 COPYRIGHT © ABCELLERA edols FULL YEAR 2022 BUSINESS UPDATE YOU THANK PATIENTS TER IFIC AND HUMAN POTENTI