#1AbCellera Q1 2021 BUSINESS UPDATE May 13, 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#3Q1 2021 BUSINESS UPDATE. VISION We have a bold vision - TO BUILD THE WORLD'S MOST TECHNOLOGICALLY ADVANCED ANTIBODY DRUG DISCOVERY ENGINE. DEFINING THE STATE-OF-THE-ART FOR THE INDUSTRY, NOT JUST TODAY, BUT FOR DECADES TO COME. AbCellera COPYRIGHT © ABCELLERA 3#4Q1 2021 BUSINESS UPDATE. GROWTH STRATEGY EXPAND CAPABILITIES. BUILD CAPACITY. EXTEND COMMERCIAL REACH. Our key growth strategies for achieving our long-term objectives include: 1 Increase programs under contract 2 Forward integration of our tech stack 3 Scale teams and facilities 4 Further technology differentiation Ab Cellera 5 Improve speed, increase predictive power COPYRIGHT © ABCELLERA 4#5Q1 2021 BUSINESS UPDATE. HIGHLIGHTS 16 NEW PROGRAMS UNDER CONTRACT 119 CUMULATIVE PROGRAMS UNDER CONTRACT $203M IN REVENUE Expanded existing & new partnerships Diversified program portfolio Positioned for growth with strong liquidity AbCellera 16 new programs under contract (PUCS) across one existing partner and two new partners, including the expansion of a single target deal with Gilead Sciences into a new multi-year, multi-target agreement. Intention to generate a portfolio of hundreds of royalty positions, forging new partnerships and expanding our work with existing ones. $680 million in cash and $190 million in accrued accounts receivable at quarter end. COPYRIGHT ABCELLERA 5#6Q1 2021 BUSINESS UPDATE. FACILITIES OUR NEW TECH CAMPUS: SCALING INNOVATION, CREATIVITY & TECHNOLOGY 110 West 4th Avenue image provided by Francl Architecture 150 West 4th Avenue image provided by TKA+D Ab Cellera COPYRIGHT © ABCELLERA 6#7Q1 2021 BUSINESS UPDATE. COVID-19 PROGRAM BAMLANIVIMAB:THE MOST BROADLY USED COVID-19 ANTIBODY IN THE WORLD Since being authorized for emergency use by the US FDA in November 2020, bamlanivimab has prevented hospitalizations and death: • 400K+ patients treated • 20K+ patients kept out of hospital 11K+ lives saved ● To address emerging variants, bamlanivimab has been evaluated in clinical trials with two other antibodies, including etesevimab and VIR-7831. Ab Cellera Lilly recently transitioned to the combination of bamlanivimab and etesevimab in the US.#8Q1 2021 BUSINESS UPDATE. COVID-19 PROGRAM LY-COV1404: A POTENTIAL LONG-TERM SOLUTION FOR COVID-19 spike trimer key mutations LY-COV1404 Fab Neutralizes all currently circulating variant strains of COVID-19 in vivo. B.1.1.7 Variant (first identified in the UK) B.1.526 Variant (first identified in New York) Well-suited for administered as a subcutaneous injection instead of an infusion. B.1.351 Variant (first identified in S. Africa) AbCellera B.1.428 & B.1.429 Variant (first identified in California) P.1 Variant (first identified in Brazil) B.1.617 Variant (first identified in India) COPYRIGHT ABCELLERA 8#9UPDATE Q1 2021 FINANCIALS#10Q1 2021 BUSINESS UPDATE. FINANCIAL RESULTS* PARTNERSHIP BUSINESS GROWTH OFF TO A STRONG START IN 2021 # of Discovery Partners 30 25 20 15 10 5 0 27 29 2015 2016 2017 2018 2019 2020 Q1 2021 Note: Showing year-end figures except for most recent quarter * Historical results are not necessarily indicative of future results. Cumulative # of Programs Under Contract 120 100 80 60 40 20 0 2015 2016 2017 2018 2019 103 119 4H 2020 Q1 2021 Cumulative # of Program Starts 60 50 40 30 20 10 0 - WITHOUT downstream participation + WITH downstream participation 2015 2016 2017 2018 2019 Ab Cellera 52 54 4P 2020 Q1 2021 COPYRIGHT ABCELLERA 10#11Q1 2021 BUSINESS UPDATE. FINANCIAL RESULTS $202.7M REVENUE DRIVEN BY COVID-19 PROGRAM AND TRIANNI LICENSING Revenue USD ROYALTIES ☐ MILESTONE LICENSING RESEARCH FEES $4.7M Q1 2020 $202.7M Q1 2021 $171.5M $7.0M $20.3M $4.0M Note associated $20M royalty fee expense Trianni Ab Cellera COPYRIGHT ABCELLERA 11#12Q1 2021 BUSINESS UPDATE. FINANCIAL RESULTS OPERATING EXPENSES REFLECT CONTINUED STRENGTHENING OF THE PLATFORM Operating Expenses USD RESEARCH & DEVELOPMENT $4.1M Q1 2020 +$8.2M $12.4M Q1 2021 SALES & MARKETING $0.4M Q1 2020 +$2.1M $2.6M Q1 2021 GENERAL & ADMIN $1.7M Q1 2020 +$4.8M $6.4M Q1 2021 Ab Cellera COPYRIGHT ABCELLERA 12#13Q1 2021 BUSINESS UPDATE. FINANCIAL RESULTS EARNINGS JUMPED TO $117M: EQUIVALENT TO $0.43 (BASIC), $0.37 (DILUTED) PER SHARE Earnings USD NET EARNINGS (LOSS) ($2.1M) Q1 2020 $117.2M Q1 2021 EARNINGS PER SHARE: BASIC ($0.01) Q1 2020 $0.43 Q1 2021 EARNINGS PER SHARE: DILUTED ($0.01) Q1 2020 $0.37 Ab Cellera Q1 2021 COPYRIGHT ABCELLERA 13#14Q1 2021 BUSINESS UPDATE. FINANCIAL RESULTS OPERATIONS RESULTS FINANCED INVESTMENTS IN Q1 & FURTHER STRENGTHEN LIQUIDITY Cash Flows USD $594.1M Cash & Equivalents 2020 Y/E $109.5M Operations $12.2M ($15.8M) Facilities JV Investment ($1.5M) Financing ($0.5M) FX Additionally, $193M accrued AR balance at quarter end $685.8M Ab Cellera Cash & equivalents Mar 31 COPYRIGHT ABCELLERA 14#15AbCellera THANK YOU