#16 BERKELEY LIGHTS Investor presentation July 2020#2Disclaimer Berkeley Lights, Inc. (the "Company," "we." "us" or "our") has filed a registration statement (including a preliminary prospectus) on Form S-1 (File No. 333-239487) with the Securities and Exchange Commission (the "SEC") for the offering to which this communication relates. Such registration statement has not yet become effective. The securities proposed to be offered pursuant to such registration statement may not be sold, nor may offers to buy be accepted, prior to the time the registration statement becomes effective. You should read the preliminary prospectus in that registration statement and other documents we have filled with the SEC for more complete information about the Company and this offering. You may get these documents for free by visiting EDGAR on the SEC website at www.sec.gov. Alternatively, copies of the prospectus may be obtained from J.P. Morgan Securities LLC, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, New York 11717, telephone: 1-866-803-9204, or by emailing at [email protected]: Morgan Stanley & Co. LLC, Attention: Prospectus Department, 180 Varick Street, 2nd Floor, New York, NY 10014; and Cowen and Company, LLC, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, via telephone: +1 (833) 297-2926, or via email: [email protected]. 6 LI This presentation contains forward-looking statements. All statements other than statements of historical facts contained in this presentation, including statements regarding our future results of operations and financial position; our ability to implement our business model and strategic plans for our products, workflows and technologies; our ability to successfully implement alternative non- direct purchase channels, including subscription and partnership offerings; our expectations regarding the rate and degree of market acceptance of our platform; competitive companies and technologies and our industry, our ability to manage and grow our business by expanding our sales to existing customers or introducing our products and workflows to new customers; our ability to develop and commercialize new products and workflows; our ability to establish and maintain intellectual property protection for our products and workflows or avoid or defend against claims of infringement; the potential effects of government regulation; availability of funding; timing and likelihood of success, plans and objectives of management for future operations, and future results of current and anticipated products, are forward-looking statements. These statements involve known and unknown risks, uncertainties and other important factors that may cause our actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Because forward-looking statements are inherently subject to risks and uncertainties, some of which cannot be predicted or quantified and some of which are beyond our control, you should not rely on these forward-looking statements as predictions of future events. The events and circumstances reflected in our forward-looking statements may not be achieved or occur and actual results could differ materially from those projected in the forward-looking statements. Except as required by applicable law, we do not plan to publicly update or revise any forward-looking statements contained herein, whether as a result of any new information, future events, changed circumstances or otherwise. This presentation also contains information concerning our industry, our business and the markets for our products, including data regarding the estimated size of those markets, their projected growth rates, the perceptions and preferences of potential customers, as well as market research, estimates and forecasts prepared by our management. This data involves a number of assumptions and limitations, and you are cautioned not to give undue weight to such estimates. The trademarks included herein are the property of the owners thereof and are used for reference purposes only. Such use should not be construed as an endorsement of the products or services of Berkeley Lights or this proposed offering. 2#3Offering summary LOI Issuer: Exchange / Ticker: Base Offering Size: Option to Purchase Additional Shares: Price Range: Lock-up Provision: Use of Proceeds: Bookrunners: Co-manager: Expected Pricing Date: Berkeley Lights, Inc. NASDAQ / BLI 7,400,000 (100% primary shares) 1,110,000 (100% primary shares, 15% of the base shares) $16.00-$18.00 per share 180 days for company, directors, officers and substantially all security holders For general corporate purposes, including working capital, and funding research and development and sales and marketing activities May also use a portion of the remaining net proceeds, if any, to acquire complementary businesses, products, services or technologies, including scientific expertise J.P. Morgan; Morgan Stanley; Cowen William Blair July 16, 2020 3#4Berkeley Lights is a leading Digital Cell Biology company IGI 6 Ranked by 2019 revenue ENABLING LARGE CELL BASED MARKETS We estimate antibody therapeutics, synthetic biology and cell therapy industries represented $148 billion end-market sales in 2019 PROPRIETARY DIGITAL CELL BIOLOGY PLATFORM Captures and interprets the qualitative language of biology and translate it into single-cell specific digital information INDUSTRY LEADING CUSTOMERS 8 of the 10 largest biopharmaceutical companies in the world, contract research organizations, synthetic biology companies and academic research institutions#5Finding the Best Cells IG₁ 6 Finding the best cells requires testing all relevant functions#65 It's Hard Probability of Success is Low#7The Berkeley Lights Platform enables functional characterization ADVANCED AUTOMATION SYSTEMS ADVANCED WORKFLOW SOFTWARE OPTIMIZED WORKFLOWS ITI DEEP OPTO PROFILING OPTOSELECT CHIPS REAGENTS • Standardized automated workflows • Precise control of environment • Functional testing of 10,000s of live single cells • Link phenotype to genotype • Rich data library Best cells for the customer#8Potential targeted customer benefits ADVANCED AUTOMATION SYSTEMS ADVANCED WORKFLOW SOFTWARE OPTIMIZED WORKFLOWS 5 DEEP OPTO PROFILING OPTOSELECT CHIPS REAGENTS Increases probability of success • Enables a broad range of complex therapeutic modalities Accelerates product development • Higher yield, lower costs Faster path to revenue • Extends product lifetime Increases return on investment#9Our customers and partners AMGENⓇ Bristol-Myers Squibb IGT 6 THE UNIVERSITY OF TEXAS MD Anderson Cancer Center™ La Jolla Institute FOR IMMUNOLOGY Daiichi-Sankyo SAMSUNG BIOLOGICS aldevron 齐鲁 QI LU (R Mount Sinai THE UNIVERSITY OF QUEENSLAND AUSTRALIA gsk & NOVARTIS SELE><IS novo nordisk YABLEXIS EMORY UNIVERSITY Pfizer Catalent TEUA ChemPartner Shire Roche A abveris SANOFI PEPPINBEGAL POSTERS13 amyris HARBOUR BIOMED 7 VANDERBILT UNIVERSITY 9#10Our workflows bring common biological processes into the digital age ITT Workflows 1 Import 2 Culture 3 Assay 4 Export 250-00107 REV ادا $37404 10#11Our workflows bring common biological processes into the digital age ITT 6 Workflows 1 Import 2 Culture 3 Assay 4 Export 111 111111 11111111111111 11#12Our workflows bring common biological processes into the digital age IGi Workflows 2 Import Culture 3 Assay 4 Export 12#13Our workflows bring common biological processes into the digital age ITT Workflows 1 2 3 4 Import Culture Assay Export 111111111111 171111111111111111111 13#14Our workflows bring common biological processes into the digital age IGi Workflows Import 2 Culture 3 Assay 4 Export 1.1 14#15Our workflows bring common biological processes into the digital age ITT Workflows 2 3 4 Import Functional Characterization: Cytotoxic T cell Culture Assay Export Morphology Diameter: 5.2um Circularity: 0.8 Granularity: 0.86 Surfactome CD4: 93 AFU COR: 03 AFU CD3: 96 AFU CD127: 25 AFU CD25: 80 AFU History Location: Dermis import time: 11/14/19 7:45AM Well Plate: WFI 1 WP Loc: B6 For Illustrative Purposes Secretome IFN-y secretion rate: 60 pcd TNF- secretion rate! 50 pod IL-10 secretion rate 2 pod Killing Target cells killed/24h:5 Serial kiling index: 10h Average conjugate time: 30m 15#16Our workflows bring common biological processes into the digital age ITT Workflows 2 3 4 Import Culture Assay Export Functional Characterization: Activated T cell Morphology Diameter: 12 um Gredanty: 0.6 Mobility: 5 m/min 70.00 Surfaceome CD3 320 AFU CD4: 360 AFU CD25: 34 AFU CD28: 77 AFU CD45RO: 126 AFU PD-1 3 AFU History Location: Lymph Node import time: 11/15/19 7:46AM Well Plate WP 1 WP Loc: E For Illustrative Purposes Secretome #Ny secretion rate: 1520 mm -2 secretion rate: 501 mpm TNFa secretion rate: 117 mp GM-CSF secretion rate: 176 mem IL-10 secretion rate: 184 mpm IL-17 secretion rate: 00 mpm TGFS secretion rate:03 mpm pH:71 Metabolome Growth Rate: 8.3 hrs Mitochondrial potential: 110 mV Mitochondrial Volume 11% O, Uptake: 53 Mph Glucose Consumption: 312 Mp 16#17Our workflows bring common biological processes into the digital age ITT 6 Workflows 1 2 3 4 Import Functional Characterization: Regulatory T cell Culture Assay Export Morphology Diameter: 5.2um Circularity: 0.8 Granularity: 0.86 2%, 0.07 Surfactome CD4: 93 AFU COR 03 AFU CD3: 96 AFU CO127: 25 AFU CD25: 0 AFU History Location: Dermis import time: 11/14/19 7:45AM Well Plate: WFI 1 For Illustrative Purposes Secretome L-10 secretion rate: 60 pod -TGF-8 secretion rate: 50 ped FN-y secretion rate: 2 ped 17#18Our workflows bring common biological processes into the digital age ITT Workflows 2 Import 4 Culture 3 Assay Export Functional Characterization: Yeast Morphology Avg. Dumeter: 1.70m Max, Diameter: 6.7um Diameter: 0.4m Avg. Circulerity: 0.38 Groularitya: 0.21um Granularity: 0.56 20.08 DsRed/GFP ratio: 0.56 Ang. Vacuole/cell sie 0.41 History Location Transduction 16 import time: 11/16/19 8:12AM Well Plate: WP1 WP Loc: FZ For Illustrative Purposes Secretome Titer 37 p rap 9.2 pod Titer 81 P 10.1 pcd Op Titer 168 p Op 10.4 pcd Avg map 364 pvd Acetate prod. rate: 2.1 mMpgh Glycerol prod. rate: 2.9 mMpgh Ethanol prod, rate: 30.4 mMpgh Metabolome Growth Rate Growth Rates Growth Rate To consistency: 12% Glucose Uptake: 10.3 mMpph O, Uptake: B.Amogh Mitochondrial potential: 42mV 23 min 25 mins 26 mins 18#19Our workflows bring common biological processes into the digital age ITT 6 Workflows 2 Import Functional Characterization: Plasma Cell 4 Culture 3 Assay Export Morphology Diameter: 5.2m Circularity: 0.8 Granularity: 0.86 0.07 Surfaceome CD138: 178 AFU CD27: 112 AFU CD38 92 AFU DICRA: 28 AFU C019 02 AFU History Location: Bone Marrow import time: 11/14/19 7:45AM Well Plate: WP1 WP Loc: B For Illustrative Purposes Secretome G secretion rate: 43 pod Ag Assay 1, soluble: 0.86 Ag+ Assay 2, membrane bound: 0.71 Ag+ Assay 2, membrane bound: 0.71 Ag Assay 2, membrane bound: 0.71 Species X-mart Assay 3.0.53 Species X-react Assay 4: 0.02 Species X-react Assay 50.91 -Ligand Blocking & Assay: 0.85 Ligand Blocking B Assay 011 Ca F Assay 5:0 Metabolome Mitochondrial potential: 98 mV ER actity Main: 271 AU GFF Assay X: 36 AU RFP Assay Y: 485 AU 19#20Our workflows bring common biological processes into the digital age IGi Workflows 2 Import 4 Culture 3 Assay Export Functional Characterization: CHO K1 Morphology Avg. Diameter: 11.4um Avg Circularity: 0.8 Granularity: 0.76 Diameter: 1.3um Circularity: 0.15am History Location Transfection 3 Import time: 11/14/19 7:45AM Well Plate: WP7 WP Loc: C3 For Illustrative Purposes Secretome The 37 pg Op 9.2 pcd The 81 ps OP 10.1 pod Thers 168 pg Op 10.4 pcd Avg mos 364 pvd Fucosylation 12% Mannose: 4% Metabolome Growth Rate 23.7 Growth Rafe, Growth Rate 22. h To consistency: 54% Glucose Uptake: 73 Lactate Production: 21 O, Uptake: 45 Minochondrial potential: 86mV 20#21Our workflows bring common biological processes into the digital age 101 6 C Workflows 1 2 3 4 Import Culture Assay Export For Illustrative Purposes 21#22Growing workflow offering with a high degree of R&D leverage High degree of leverage across markets, applications and customers Workflows in development Opto Viral Neutralization 1.0 Opto Cell Therapy Development 2.0 Opto Cell Therapy Manufacturing Opto Cell Therapy Patient Monitoring Opto SynBio Discovery 1.0 Opto SynBio Development 1.0 IGT Antibody therapeutics Cell therapy Synthetic biology 6 2015 2016 As of April 30, 2020 2 Planned 2018 6 commercial workflows¹ Opto Cell Therapy Development 1.0 Opto Plasma B Discovery 3.0 Opto Cell Line Development 2.0 Opto Cell Line Development 1.0 2017 2019 2020 Opto Plasma B Discovery 2.0 Opto Plasma B Discovery 1.0 Developing a new workflow is a function of adding new single cell assays, changing one or more of the four modules or cell types Our 6 commercial workflows, incorporate 16 assays and over 11 cell classes 22#23BI 6 Antibody Therapeutics Aim to become the Preferred Path from Target ID to the Clinic Based on internal and external estimates in 2019 ~$6B1 TAM -$222B END MARKET IN 2024 23#24Amgen Partnership ITT - First Beacon Adopter - Full Conversion to Cell Line Development Workflow - Beacon Fleet Operating Across 2 Sites in North America AMGEN 24#25Opto Plasma B Discovery streamlines & integrates many disjointed processes onto one platform BERKELEY LIGHTS OPTO PLASMA B CELL DISCOVERY WORKFLOW TYPICAL SEQUENCE FIRST METHOD IMMUNIZATION 6 TYPICAL HYBRIDOMA METHOD LOI IMMUNIZATION IMMUNIZATION Functional Test HARVEST HARVEST HARVEST WORKFLOW OOO FUSION SEQUENCE SEQUENCE CULTURE FUNCTIONAL LEADS Bus b PRINT DNA XXX PRELIMINARY SCREEN 3 DAYS SINGLE CELL CLONING CULTURE CULTURE IGI ASSAY ASSAY FUNCTIONAL www SEQUENCE 5-8 WEEKS FUNCTIONAL LEADS Sund www. 8-12 WEEKS 25#26Enabling customers to increase the chances of success Discoverable Cells ITI Berkeley Lights Sequence & re-express Hybridoma Biodiversity -50,000 cells -5,000 cells Goal: Find these cells Easy to hit targets Hard to hit targets +3,000 cells Performance of cells Note: For illustrative purposes we have selected a hypothetical normal distribution to represent the performance of 100,000 cells in the immune system. Actual distributions may differ. 26#27Opto Cell Line Development workflow BERKELEY LIGHTS OPTO CELL LINE DEVELOPMENT WORKFLOW TRANSFECTION SELECTION CULTURE TYPICAL WELL PLATE BASED METHOD TRANSFECTION ITT SELECTION CULTURE Functional Test WORKFLOW EXPANSION CULTURE TOP 24 PICKING SCALE UP TATAT FACS MARE MONOCLONAL MASTER 888 EXPANSION 5 DAYS ASSAY IGI TOP 24 SCALE UP THAT MASTER BANK 888 5 High titer 5 Strong correlation to titer in bioreactor 5 Enable >99% monoclonality assurance, a quality metric important for regulatory approval, vs. 96% from limiting dilution, which takes ~4 weeks 8-12 WEEKS 27#28Enabling customers to find the highest productivity cell line Catalent. Discoverable Cells ITT Well plate method Berkeley Lights Biodiversity -5,000 cells -3,000 cells Goal: Find these cells Performance of cells 3,000 2,500 2,000 1,500 1,000 500 ClonePix >6 weeks, <0.7 g/L Note: For illustrative purposes we have selected a hypothetical normal distribution to represent the performance of 10,000 edited cells. Actual distributions may differ. IGI clones Rare >3x Increase 1 3 5 7 9 11 13 15 17 19 21 23 25 27 29 31 33 36 37 39 Clone Traditional clones Beacon clones Beacon 1 week, >2.5 g/L 28#29ITT Synthetic Biology Become the Preferred Path to Production Ready Organisms ¹ Based on internal and external estimates in 2019 -$2B¹ TAM -$19B END MARKET IN 2024 29#30Enabling customers to find the highest productivity strains Discoverable Cells IGT Berkeley Lights Macrofluidics Strains tested Goal: Find these cells High Productivity Strains Performance of cells Note: For illustrative purposes we have selected a hypothetical normal distribution (with Berkeley Lights having the ability to encompass approx. 50% of the discoverable cells in a strain) to represent the performance of a strain based upon the parallels between certain AbD workflows and SynBio workflows and basic principles of macrofluidics. Actual distributions may differ. 30#31Our collaboration with Ginkgo IG 5 Signed September 2019 5 Upfront payment 5 Ginkgo will pay up to $150mm for (1) our workflow development efforts and (2) use of our products and services 5 Development and regulatory milestone payments for each antibody therapeutic developed through Ginkgo use of certain of our workflows for services for a 3rd party¹ To the extent Ginkgo also receives such payments Combines Berkeley Lights platform with automated genetic engineering foundries GINKGO BIOWORKS™ THE ORGANISM COMPANY Drives jointly developed workflows to provide continued growth and output in efficiency of Ginkgo's foundries "We're improving our ability to engineer biology every year and new technologies like Berkeley Lights' platform are essential to maintaining that pace of improvement. The Berkeley Lights team has already had an incredible impact on pharma - including cell line development and antibody discovery - and we believe this partnership will bring about a step-change in the speed and scale at which we engineer biology for applications across a variety of industries. We hope to move not just Ginkgo initiatives forward, but the entire biotech sector." Barry Canton, CTO and Co-founder, Ginkgo Bioworks 31#32Multiple opportunities exist in Synthetic Biology ITI Industrial biotechnology ▪ Industrial Enzymes Fine Chemicals ▪ Specialty Chemicals Organisms and plants ▪ Bacteria ▪ Yeast ■ Filamentous Fungi ▪ Algae and cyanobacteria ▪ Pharmacological plants Y New therapeutics modalities ▪ Engineered Microbiomes ▪ Autologous Protein Therapeutics ▪ Un-Natural Products XX pod Synthetic Biology 7 Food Food 2.0 Specialty Crops Environment CO₂ Fixing Organisms Methane Fixing Organisms ▪ Bio-Plastics ▪ Textiles ▪ Hydrogen Producing Organisms 32#33LOI 6 Cell Therapy Build toward delivering the Right Cells to the patient on Time Includes Cell Therapy MFG, Patient Monitoring, and Cell Therapy Development; based on internal and external estimates in 2019 -$15B1 TAM 33#34We are designing our platform with the goal of providing: ITI Safer & More Efficacious Cells Smaller Doses D Automated QC & Manufacturing Shorter Vein-to-Vein Times 34#35Opto Cell Therapy Development workflow Develop the best performing T-Cells for a customer's specific task BI 6 BERKELEY LIGHTS OPTO CELL THERAPY DEVELOPMENT WORKFLOW T CELL TYPICAL TCR METHOD O TCELL ENRICHMENT Functional Test SINGLE CELL SEQUENCE FUNCTIONAL Balon BIOINFORMATIC ANALYSIS XXXX <2 DAYS ASSEMBLE 100% TORS IGT RE-EXPRESS IN JURKAT CONFIRM FUNCTION Key functional assays 5 Tumor Killing (Cytotoxicity) 5 Activation (Cytokine Release) RE EXPRESS IN T CELLS CONFIRM FUNCTION FUNCTIONAL **** 35#36Case study: Cytotoxicity assay for CAR-T Our platform enables fast and efficient analysis of digitally recorded results ITT 5 Tumor cells (red) + Tumor Killing cells (unlabeled) Blue indicates Tumor cell killing 36#37Our vision for advancing cell therapy BERKELEY LIGHTS CTMS WORKFLOW BLOOD DRAW 888 ITT GENERAL CELL THERAPY MANUFACTURING METHOD BLOOD DRAW CTMS CALL INFUSION FREEZE AND IGI INITIAL OC SODON ACTIVATE TRANSDUCE Our platform can test the fitness of cells more efficiently than other methods DEVELOPMENT QC EXPAND FORMULATE i FINAL QC 5 INFUSION 37#38101 의 AUTOMATED MANUFACTURING The Future#39ITI AUTOMATED MANUFACTURING The Future#40101 BERKELEY LIGHTS LOI LOI LOI 5 Our solution will support centralized and/or decentralized manufacturing solutions III AUTOMATED CELL THERAPY MANUFACTURING The Future DI LI 5DI#41#4217 ܗܙ 1#43Inflammatory Diseases Infectious Diseases Cardiovascular Diseases Blood Disorders Market Opportunities Eye Disorders 127 Cancer 5I Regenerative Medicines Sustainable Foods Industrial Enzymes Engineered Microbiomes Pharmacological Plants Carbon Fixing Organisms#44Our goal is to expand our workflows across the value chain Manufacturing and quality control IGT Antibody therapeutics Cell therapy Synthetic biology Note: As of April 30, 2020 Discovery Commercialized in development Development Commercialized Clinical and regulatory Development roadmap Patient monitoring I 44#45Growth Strategy - Increasing adoption of our platform DI Expand into new markets via partnership Increase the value of existing workflows Expand customer adoption of our platform Value chain expansion within our existing customer base Drive new customer adoption of our platform#46Top tier management, board and investor base ICT Key management Eric Hobbs, Ph.D. Chief Executive Officer Keith Breinlinger, Ph.D. Chief Technology Officer Shaun Holl Chief Finandal Officer Sheri Kelleher VP. People Operations Stuart Merkadeau General Counsel Note: As of March 31, 2020 Kevin Chapman, Ph.D. Chief Scientific Officer John Proctor, Ph.D. SVP Marketing Mark Lasimsakl SVF, Global Sales Organization and talent Attracting leading talent across technology, bioscience, data, engineering and biotherapeutics development 210 Full-time employees 77 Employees with Ph.D. degrees Board and investors 5 Eric D. Hobbs 5 Sarah Boyce Greg Lucier 5 Igor Khandros Board BLACK DIAMOND 5 Michael Marks 5 Michael Moritz 5 Elizabeth Nelson 5 James Rothman Investors SEQUOIA WRVI CAPITAL COTA CAPITAL varian Nikon PAXION CAPITAL 46#47Strong record of execution IGT 6 $0.2M 2014 $1.7M 2015 $6.1M 2016 Revenue -Gross Margin % 76.5% $18.7M 2017 73.9% $31.3M 2018 $56.7M 76.7% 2019 72.4% $13.8M Q1'20 Q2'20 Flash Financial Results¹ Revenue $10.4M - $10.5M Gross Margin 63% - 65% Loss from Operations² $12.5M - $13.0M Our consolidated financial statements for the three months ended June 30, 2020 are not yet available. Accordingly, the information presented for this period reflects our preliminary estimates subject to the completion of our financial closing procedures and any adjustments that may result from the completion of the quarterly review of our consolidated financial statements. Once our quarterly financial closing procedures and completed, wo may roport financial results and other data that could differ, and the differences could be material. Our independent registered public accounting firm has not audited, reviewed, compiled, or performed any procedures with respect to such preliminary data. 2 GAAP: includes stock-based compensation expense. 47#48Clear commercial strategy and strong global coverage Commercial team overview Sales strategy (pre-close) Lead Generation ITT Commercial strategy overview Customer adoption (post-close) System Placement Qualification and Workflows Identification User Training Positioning a Solution Workflow Integration Technical Validation/ Feasibility Value Chain Expansion Final Proposal & Closing Key Account Management Our commercial team consists of business and market development, sales, technical sales specialists, field service engineers and field applications support Distributor Sales Channel China 9 (Non-exclusive) Thailand Singapore 99 Japan Korea 48#49The Power of the Berkeley Lights Platform 5 IG: Bioscience Cell Processing Technology Deep Opto Profiling 55 Digital Cell Biology Workflow Automation Information