#1AbCellera 2020 BUSINESS UPDATE March 29, 2021 D#2DISCLAIMER 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. Ab Cellera 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. COPYRIGHT ABCELLERA 2#32020 BUSINESS UPDATE. HIGHLIGHTS ~400K PATIENTS TREATED 72% INCREASE IN # OF PARTNERSHIPS $233M IN REVENUE Proved tech & business model Strengthened competitive advantage Positioned for growth with strong liquidity AbCellera COVID-19 program with Eli Lilly brings bamlanivimab into clinical trials 90 days after initiation. Bamlanivimab authorized in 15 countries. Expanded technology stack with acquisitions OrthoMabTM and Trianni. Secured $126 million for CMC and GMP manufacturing capabilities. $594 million in cash and $212 million in accounts receivable at year end. COPYRIGHT ABCELLERA 3#42020 BUSINESS UPDATE. TECHNOLOGY STACK DEEP TECH, COMPLEX INTEGRATION, AT SCALE. Many life sciences companies have technologies that focus on one or a limited number of steps in the process. We believe we uniquely integrate proprietary technologies that address each of these steps. SOURCE • Immunization ABCELLERA KNOW-HOW • Humanized Mice POWERED BY Trianni MouseⓇ ACQUISITION POWERED BY Alloy ATX-GX™ IN-LICENSED ● SEARCH Single-Cell Secretion Assay ABCELLERA PATENTED TECHNOLOGY ● FIND Repertoire Sequencing & Analysis POWERED BY Lineage Biosciences Ig-Seq Platform ACQUISITION ANALYZE • Mapping & Visualization ABCELLERA COMPUTATIONAL ENGINE POWERED BY 8 ITERATIVE CELIUM ENGINEER Biophysical Properties Analysis ABCELLERA KNOW-HOW Ab Cellera Multispecific Development POWERED BY OrthoMab Bispecific Platform ACQUISITION COPYRIGHT ABCELLERA 4#52020 BUSINESS UPDATE. PARTNERSHIP BUSINESS MODEL ACCELERATE DISCOVERY. SHARE IN THE SUCCESS. target PARTNER BIOTECH, PHARMA ABCELLERA mAb Pre-clinical DISCOVERY RESEARCH FEES Near-term revenue from research payments (capital efficient) Phase 1 Phase 2 Phase 3 Approval Building a diversified portfolio of milestones & royalties (primary value driver) MILESTONES Multimillion dollar potential clinical and commercial milestone payments + ROYALTIES Ab Cellera Commercial Sale Majority of risk-adjusted value from royalty on commercial therapeutic sales COPYRIGHT ABCELLERA 5#62020 BUSINESS UPDATE. TECHNOLOGY ADVANTAGE AI-POWERED PLATFORM BUILT ON REAL-WORLD DATA. We believe our technology advantage comes from combining three things: 1 Proprietary technologies that can generate massive multidimensional antibody datasets 2 ព័ត៏. Custom software to aggregate, store and maintain data 3 Ab Cellera Artificial intelligence and powerful computational tools to extract actionable information from this data COPYRIGHT ABCELLERA 6#7more 2020 BUSINESS UPDATE. TECHNOLOGY ADVANTAGE increasing TECHNOLOGY ADVANTAGE FACILITIES + TECHNOLOGY ACQUISITIONS DEMOCRATIZE THE INDUSTRY. more TEAM KNOW-HOW more CAPABILITIES more ACCESS MULTI-DIMENSIONAL DATA GENERATION millions of I thousands of Y hundreds of thousands of smarter AI more OPPORTUNITIES more BUSINESS GROWTH more PARTNERSHIPS more DATA + LEARNING Ab Cellera COPYRIGHT ABCELLERA 7#82020 BUSINESS UPDATE. PARTNERSHIPS UNLOCK NEW TARGETS. EMPOWER PARTNERS TO MOVE QUICKLY. JAN FEB Invetx Multi-target Multi-year Animal health MAR APR REGENERON Multi-target Multi-year Undisclosed MAY Lilly 9 targets Multi-year JUN COVID-19 + additional indications JULY AUG SEP Igm biosciences Multi-target Multi-year Oncology & immunology OCT NOV XInvetx Multi-target Multi-year Animal health KODIAK Single target Ophthalmology DEC Ab Cellera abdera THERAPEUTICS 9 targets Multi-year Oncology COPYRIGHT ABCELLERA 8#9DAY 0 Sample received THE 1ST COVID-19 ANTIBODY TREATMENT TO REACH THE CLINIC IN N. AMERICA. from one of the first US patients who recovered from COVID-19. 2020 BUSINESS UPDATE. COVID-19 PROGRAM Together with its partners, AbCellera brought the first treatment developed specifically for COVID-19. Bamlanivimab is currently authorized in 15 countries, including the United States, Canada, Europe and the Middle East for the treatment of mild to moderate COVID-19 in high-risk patients. 86 From patient sample to human testing in 90 days ~5,800,000 cells screened in 3 days 24 leads identified in 23 days by evaluating 250,000 data points DA DAY 90 Y ‒‒ Ab Cellera one antibody in human clinical testing by Eli Lilly and Company COPYRIGHT ABCELLERA 9#102020 BUSINESS UPDATE. COVID-19 PROGRAM ~400K PATIENTS TREATED WITH BAMLANIVIMAB Bamlanivimab has been evaluated both alone and together with other antibodies in 5,000+ patients across multiple clinical trials. Bamlanivimab alone has been shown to: YLO52IPAMOO NDC 0002-7910-01 bamlanivimab injection 700 mg/20 mL (35 mg/mL) For Must dilute before use Die Single-Dose Val Unused Portion For use under l Use Authorization (Lilly rization (EUA) NDC 0002-7910-01 bamlanivimab injection 700 mg/20 mL (35 mg/mL) For Intravenous Infusion Only Must dilute before use Single-Dose Vial: Discard Unused Portion For use under Emergency Use Authorization (EUA). Lilly Lidde mong 20999கிர telligen d kde Bu Reduce hospitalizations by 70% to 80% in patients recently diagnosed with mild to moderate COVID-19 Ab Cellera Prevent COVID-19 in nursing homes, reducing the risk of contracting COVID-19 by up to 80% Prevent COVID-19-related deaths#112020 BUSINESS UPDATE. COVID-19 PROGRAM COMBAT VARIANTS WITH BAMLANIVIMAB COMBINATIONS Bamlanivimab is being evaluated together with other antibodies in patients recently diagnosed with mild to moderate COVID-19 to address emerging variants. bamlanivimab + etesevimab Reduces hospitalization & death by 87% in patients recently diagnosed with mild to moderate COVID-19. US UK 99% effective against circulating strains in US Effective against UK strain bamlanivimab + VIR-7831 Currently being evaluated in the BLAZE-4 study for patients recently diagnosed with mild to moderate COVID-19. SA Predicted to be effective against South African strain Ab Cellera COPYRIGHT ABCELLERA 11#122020 BUSINESS UPDATE. COVID-19 PROGRAM ADVANCING A NEW, NEXT-GEN COVID-19 ANTIBODY. In late January, Eli Lilly moved a next-gen antibody discovered by AbCellera, 1404, into preclinical development. This antibody is: ● ● Predicted to neutralize all circulating variant strains of COVID-19, including the South African, UK, New York, Brazilian and California variants Expected to reach clinical testing in 2021 Q2 A potential best-in-class therapeutic ½ + H- Ab Cellera Antibody therapies are a complementary approach to vaccines, both now and in the future.#132020 BUSINESS UPDATE. TECHNOLOGY EXPANSION ACQUISITIONS TO EXPAND THE BREADTH & DEPTH OF OUR TECH STACK Combine any two antibodies to create bispecific antibodies. THI B H OrthoMabTM bispecific engineering platform, coupled with our discovery engine, has the potential to be best-in-class. Source fully human antibodies from rodents. Ab Cellera Trianni next-generation mice are TRIANNI suited for generating antibodies an AbCellera company against some of the toughest problems in the industry. COPYRIGHT ABCELLERA 13#142020 BUSINESS UPDATE. TECHNOLOGY EXPANSION THE GOAL: TARGET TO FILL-FINISH IN ONE YEAR. Future plans for deepening the tech stack include: Cell line development + AA GMP manufacturing facility for production of biologics for clinical testing FINANCIAL POST Abcellera Receives $126 Million from the Government of Canada to Discover Solutions for COVID-19 and Build a Manufacturing Facility for Antibody Drugs Ab Cellera This facility, which is partly funded by a $126M grant by the Government of Canada, will be the first in Canada capable of going from a patient sample to manufacturing antibodies for clinical testing x Ab Cellera's world-leading drug discovery technology identifies antibodies for potential use in drugs to treat and prevent COVID-19 COPYRIGHT ABCELLERA 14#15THANK YOU ABCELLERITES & OUR FAMILIES AbCellera COPYRIGHT ABCELLERA 15#16UPDATE 2020 FINANCIALS#172020 FULL YEAR FINANCIAL RESULTS* PARTNERSHIP BUSINESS GROWTH CONTINUED AT A RAPID PACE THROUGH 2020 # of Discovery Partners 30 25 20 15 10 5 0 2015 2016 +28% 22 27 2017 2018 2019 2020 * Historical results are not necessarily indicative of future results. Cumulative # of Programs Under Contract 120 100 80 60 40 20 0 +56% 2015 2016 2017 60 II 2018 2019 103 2020 Cumulative # of Program Starts 60 50 40 30 20 10 0 + WITH downstream participation - WITHOUT downstream participation 5-year CAGR 2015 +42% Ab Cellera 2016 2017 2018 43 Al 2019 52 2020 COPYRIGHT ABCELLERA 17#182020 FULL YEAR FINANCIAL RESULTS $233.2M REVENUE DRIVEN BY 71% INCREASE IN RESEARCH FEES & COVID-19 PROGRAM Revenue USD ROYALTIES MILESTONES RESEARCH FEES $8.8M 2018 $11.6M 2019 20X +71% Year Total $233.2M 2020 $198.3M Ab Cellera COVID-19 Program Downstream Revenue $213.3M $15.0M $19.8M COPYRIGHT © ABCELLERA 18#192020 FULL YEAR FINANCIAL RESULTS OPERATING EXPENSES REFLECT CONTINUED STRENGTHENING OF THE PLATFORM & NON-RECURRING COSTS Operating Expenses USD RESEARCH & DEVELOPMENT $10.1M 2019 +$11M $29.4M $4.3M $4.0M 2020 LCO OrthoMabTM SALES & MARKETING $1.3M 2019 +$2.6M $3.8M 2020 GENERAL & ADMIN $2.7M 2019 +$7.3M $11.9M $1.9M 2020 Ab Cellera Preferred share financing and IPO COPYRIGHT ABCELLERA 19#202020 FULL YEAR FINANCIAL RESULTS THREE OTHER PRE-TAX INCOME STATEMENT ITEMS INCREASED BY >$1 MILLION IN 2020 ● DEPRECIATION & AMORTIZATION $1.6M 2019 +$3.2M $4.8M 2020 $2.5M due to amortization of acquired intangible assets over their useful lives INTEREST & OTHER EXPENSE $0.2M 2019 +$6.3M $6.5M 2020 $4.2M relates to retired OrbiMed credit agreement and previously retired credit facility (non-recurring) GRANTS & INCENTIVES $1.8M 2019 +$6.5M $8.3M 2020 Mostly Government of Canada SIF project cost recovery Ab Cellera COPYRIGHT ABCELLERA 20#212020 FULL YEAR FINANCIAL RESULTS EARNINGS JUMPED TO $119M: EQUIVALENT TO $0.53 (BASIC), $0.45 (DILUTED) PER SHARE Earnings USD NET EARNINGS (LOSS) ($2.2M) 2019 $118.9M 2020 EARNINGS PER SHARE: BASIC ($0.01) 2019 $0.53 2020 EARNINGS PER SHARE: DILUTED ($0.01) 2019 $0.45 Ab Cellera 2020 COPYRIGHT ABCELLERA 21#222020 FULL YEAR FINANCIAL RESULTS SUCCESS IN FINANCING ALLOWED FOR IMPORTANT INVESTMENTS IN 2020 & PROVIDES STRONG LIQUIDITY BEYOND Cash Flows USD $7.6M Cash & Equivalents 2019 YE $22.7M Operations $683.7M Financing Series A2 $74.7M Convertible Debentures $90.0M IPO $522.8M ($3.8M) Debt Repayment & Other ($119.8M) ($90.0M) Trianni Acquisition Additionally, $198.3M accrued AR received subsequent to year end $594.1M Ab Cellera Investments Cash & Equivalents 2020 YE COPYRIGHT © ABCELLERA 22#23AbCellera THANK YOU COPYRIGHT © ABCELLERA 23