#1Innovent 2021 Annual Results Investor Presentation March, 2022 Innovent To develop and commercialize high quality biopharmaceuticals that are affordable to ordinary people.#2Disclaimer This presentation includes forward-looking statements. All statements contained in this presentation other than statements of historical facts, including statements regarding future results of operations and financial position of Innovent Biologics ("Innovent” “we,” “us” or “our”), our business strategy and plans, the clinical development of our product candidates and our objectives for future operations, are forward- looking statements. The words "anticipate," believe,” “continue," "estimate,” “expect,” “intend," "may," "will" and similar expressions are intended to identify forward-looking statements. We have based these forward-looking statements largely on our current expectations and projections about future events and financial trends that we believe may affect our financial condition, results of operations, business strategy, clinical development, short-term and long-term business operations and objectives and financial needs. These forward-looking statements are subject to a number of risks, uncertainties and assumptions. Moreover, we operate in a very competitive and rapidly changing environment. New risks emerge from time to time. It is not possible for our management to predict all risks, nor can we assess the impact of all factors on our business or the extent to which any factor, or combination of factors, may cause actual results to differ materially from those contained in any forward-looking statements we may make. In light of these risks, uncertainties and assumptions, the future events and trends discussed in this presentation may not occur and actual results could differ materially and adversely from those anticipated or implied in the forward-looking statements. Although we believe that the expectations reflected in the forward-looking statements are reasonable, we cannot guarantee future results, levels of activity, performance, achievements or events and circumstances reflected in the forward-looking statements will occur. We are under no duty to update any of these forward-looking statements after the date of this presentation to conform these statements to actual results or revised expectations, except as required by law. You should, therefore, not rely on these forward-looking statements as representing our views as of any date subsequent to the date of this presentation. This presentation also contains estimates and other statistical data made by independent parties and by us relating to market size and growth and other data about our industry. This data involves a number of assumptions and limitations, and you are cautioned not to give undue weight to such estimates. Neither we nor any other person makes any representation as to the accuracy or completeness of such data or undertakes any obligation to update such data after the date of this presentation. In addition, projections, assumptions and estimates of our future performance and the future performance of the markets in which we operate are necessarily subject to a high degree of uncertainty and risk. This presentation may not be all inclusive and may not contain all of the information that you may consider material. 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This presentation is intended solely for investors that are qualified institutional buyers or institutional accredited investors solely for the purposes of familiarizing such investors with Innovent and determining whether such investors might have an interest in a securities offering contemplated by Innovent. Any such offering of securities will only be made pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the U.S. Securities Act of 1933, as amended, or by means of a registration statement (including a prospectus) filed with the SEC, after such registration statement becomes effective. No such registration statement has been filed, or become effective, as of the date of this presentation. This presentation shall not constitute an offer to sell or the solicitation of an offer to buy any securities, nor shall there be any sale of any securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction. Innovent Confidential Copyright©2022 Innovent 2#3Part 1 2021 Business Updates Innovent 3#4Innovent's First 10 Years Growth: A Solid Track Record $ 7 25 commercial products clinical assets 60000L 25 6100 capacity in operation global partnerships experienced talents 2021 total product revenue over RMB 4bn • Accumulated sales of TYVYT over RMB 6.4bn since launch with continuous satisfactory growth momentum 6 assets in NDA or pivotal trials 19 assets in Phase I and Il stages • 80+ research programs in pre- clinical stage • 60K liter capacity in operations. Additional 172K liter capacity under construction • World-class CMC Strategic collaboration with MNCs e.g. Eli Lilly and Roche Partnership with regional and global biotechs • 1,500+ R&D • 1,300+ CMC ~3,000 sales & marketing Transformed from a biotech start-up to a leading biopharma company in China Innovent Confidential Copyright©2022 Innovent#52021 and 2022 YTD: Another Successful Year COMMERCIAL PORTFOLIO TYVYT 达攸同苏立信 达伯华!達伯坦影 耐立克 D CYRAMZA™ Sintilimabinjection ****** 阿达云单抗注射液 利妥昔单抗注射液 Pemazyre (tablets) ramucirumab injection I TYVYTⓇ BYVASDAⓇ SULINNOⓇ HALPRYZA® I PemazyreⓇ 奧雷巴替尼 olverembatinib Olverembatinib 10 mg/mL solution CYRAMZAⓇ REGULATORY ACTIONS POC EARLY INNOVATION • BD • CMC • Innovent • new launch Annual Product Revenue (RMB) +69.0% 2.4 bn +133.0% 1.0 bn REGULATORY APPROVALS TYVYTⓇ (PD-1): 1L nsqNSCLC, 1L sq NSCLC, 1L HCC Pemazyre (FGFR): 2L MCCA (Hong Kong, Taiwan) BYVASDAⓇ (VEGF): 1L HCC, 2L OC, 1L CC OlverembatinibⓇ (BCR-ABL): CML POC POSITIVE READOUT (n = 7) IBI188 (CD47) MDS IBI310 (CTLA-4) CC/HCC IBI326 (BCMA CART) MM IBI344 (ROS1/NTRK) NSCLC REGULATORY FILINGS TYVYTⓇ (PD-1) 1L ESCC / 1L GC/2L EGFRm nsqNSCLC Pemazyre ® (FGFR) 2L MCCA (Mainland China) RetsevmoⓇ (RET) 2L NSCLC/MTC/TC IBI362 (OXM3) Obesity / Diabetes IBI302 (VEGF/complement) nAMD IBI112 (IL-23 p19) Psoriasis • POC STUDIES ONGOING/UPCOMING (n = 6) IBI110 (LAG-3) IBI322 (PD-L1/CD47) IBI939 (TIGIT) IBI315 (PD-1/HER2) IBI351 (KRAS G12C) IBI323 (PD-L1/LAG3) 80+ research programs for 7 taskforces focusing on antibody protein engineering, immunology and cancer biology Delivered 7 molecules advancing into the clinic within 1-2 years Expanding talent structure and established SAB (scientist advisory board) contributing to true innovation AnHeart Therapeutics 薙方压药 Ascentage Pharma GENFLEET BOLT BIOTHERAPEUTICS Synaffix 4.0 bn 2019 2020 2021 UNION THERAPEUTICS Lilly Completed construction of another 36,000L manufacturing capacity to reach a total of 60,000L for antibody production. Established world-class CMC Strategic Advisory Board with strong support from global renowned top experts. Confidential Copyright©2022 Innovent LO 5#6Commercial: Strengthening Our Leadership Position with Strong Revenue Performance and Expanding Commercial Portfolio Annual Product Revenue (RMB) YoY Growth (%) 1.0 bn +133.0% TYVYTⓇ 2019 2.4 bn 4.0 bn Others +69.0% 2021 achieved +69.0% yoy growth with synergized portfolio Tyvyt as leading brand in the market, maintained satisfactory growth in both revenue and volume. Higher revenue contribution obtained from other new launched products with fast ramp-up, which further validates our commercial platform and capability. Late stage pipelines covering core disease areas provide near to mid term sustainable meaningful growth. 2020 SULINNOⓇ HALPRYZA® BYVASDAⓇ TYVYTⓇ TYVYTⓇ 2021 NAILIKE PemazyreⓇ SULINNOⓇ HALPRYZA® BYVASDAⓇ TYVYTⓇ iti • 2021 established a fully fledged team of ~3000 professionals A growing scale of commercial team and refine management to broaden coverage and deepen penetration. Reasonable price solutions and innovative strategies to reduce financial burden and increase patient's affordability and accessibility. We are confident to maintain sustainable and fast revenue growth with delicately-schemed strategies, proven commercial platform and valuable assets across core therapeutic areas Innovent Confidential Copyright©2022 Innovent CO#7Commercial: Expanded Strategic Partnership with Lilly in Oncology in Commercialization of Multiple Late-Stage Products Expand Innovent and Lilly's strategic partnership in oncology including multiple late-stage products ✓ Further validates Innovent's commercial platform and capability Further expand Innovent's rich oncology pipeline by adding one approved product, one NDA product, and potentially a one late stage product, providing integrated patient solutions with strong portfolio synergies Enhance Innovent's franchise in major cancer indications including NSCLC, GC and HCC, as well as potentially hematological malignancies Innovent will receive... • Sole commercialization rights to import, market, promote, distribute and detail CyramzaⓇ (ramucirumab) and RetsevmoⓇ(selpercatinib) in mainland China Right of first negotiation granted to Innovent for potential future commercialization of pirtobrutinib in mainland China CYRAMZA™ ramucirumab injection 10 mg/ml solution China approval for GC in Mar 2022, NDA for HCC submitted in Sep 2021 Retevmo™ China NDA submitted in Aug 2021 Pirtobrutinib (Global Phase 3 ongoing) GC HCC NSCLC new case new case 480K 410K new case 650K Late-stage DTC/MTC Pirtobrutinib new case is an Orally Active, Highly Selective and non-Covalent BTK Inhibitor 4 58K Leverage two parties' strengths in a win-win manner to continue bringing innovative medicines to benefit Chinese patients Innovent Confidential Copyright©2022 Innovent Lilly Will receive... Upfront payment - $45m in total upon regulatory approvals of CyramzaⓇ in HCC and RetsevmoⓇ in NSCLC • Responsible for manufacturing and supply of CyramzaⓇ and RetsevmoⓇ 7#8Sintilimab in 2021: The Only PD-1 Inhibitor with Positive Phase 3 Data in the First Line Treatment of 5 Major Types of Cancer Overall survival (%) 100 75 75 50 25 1L sq NSCLC 2021.06 SNDA Approval هی 1L ESCC 2021.06 ORIENT-15 met endpoints 2021.09 SNDA Accepted 1L GC EGFRM nsqNSCLC 2021.11 ORIENT-31 met endpoints 2021.12 SNDA Accepted 1L nsqNSCLC 2021.02 SNDA Approval 1L HCC 2021.06 SNDA Approval 2021.08 ORIENT-16 met endpoints 2021.10 SNDA Accepted A successful year with 3 sNDA approvals, 3 Ph3 data readouts and 3 new sNDA accepted EGFRm nsqNSCLC: ORIENT-31 1L ESCC: ORIENT-15 Improved mOS: 16.7 mos V.S. 12.5 mos (HR [95% CI]=0.628, p<0.0001) WIIHIII Sinti + Chemo 1L GC/GEJ: ORIENT-16 1.0- Improved mOS: 15.2 mos V.S. 12.3 mos (HR[95% CI]=0.766, p=0.0090) 0.8- Overall survival (%) 70 0.2- 0.4- 0.6- Chemo 0 T T 0 3 6 9 12 15 18 21 24 27 0 3 6 9 12 15 18 21 Months Months Innovent Confidential Copyright©2022 Innovent Sinti + Chemo Chemo T 25 24 27 22 30 Progression free survival (%) 100- 80- 60 40- 20 20 Improved mPFS: 6.9 mos V.S. 4.3 mos (HR [95% CI]=0.464, p<0.0001) CO 13 Months 0 Sinti+ Bevaci Chemo Chemo 12 15 8#9R&D: Bringing More Molecules into Late Stage with Positive PoC Data We achieved positive PoC readouts for 7 promising assets Oncology Non-oncology IBI188 (CD47) highly-potent CD47 mAb IBI326 (BCMA) Under the optimal dose regime, preliminary efficacy data from 12 patients is ORR =83.3% and the response will deepen as treatment prolongs Potentially China 1st BCMA CAR-T Product Impressive preliminary phase 1/2 data with rapid onset of action and long-lasting efficacy, as well as favorable safety profile IBI310 (CTLA-4) CTLA-4 +PD-1 combo therapy for solid tumors Preliminary POC signal in Phase 1b studies and progressed into registrational trials for multiple indications IBI344 (ROS1/NRTK) Next-generation potent TKI target ROS1/NRTK fusions ORR% 90.5% in the crizotinib- naïve patient and ORR 43.8% in the crizotinib-treated patient group. Receive NMPA BTD for ROS1+ NSCLC in 2022.02 IBI362 (GLP1/ GCGR) Potentially the best molecules in metabolic Robust efficacy data with good safety profile to deliver multiple clinical benefits in treating T2DM and obesity. Plan to start Phase 3 in 2022. IBI112 (IL-23) BIC candidate with long acting potential Observed significant efficacy signal in the Phase 2 study for psoriasis and expandable to other autoimmune diseases. IBI302 (VEGF/C) Global FIC ophthalmology molecule Promising visual acuity improvement with edema reduction observed in Phase 1b clinical study and Phase 2 ongoing 2022. Innovent Confidential Copyright©2022 Innovent#10R&D: Expanding Global Footprint of the R&D Organization • • Innovent R&D Led by Dr. Yongjun Liu President, Innovent 1,500+ Global R&D Employees Innovent Academy increased to ~300 talents based in China and US. US wet lab put in operation in 2H 2021. Organization: Immunology, Caner Biology, Protein Antibody Engineering, Pharmacology & Toxicology 80 projects and 7 taskforce 6 molecules delivered to CMC 000 Chairman of the Department of Immunology; Founding Director of the Center for Cancer Immunology Research of MD Anderson Cancer Center Global Head of Research of Sanofi Established world-class Scientific Advisory Board, strong support from global renowned scientists in SAB Carlos Garcia-Echeverria, Ph.D. A • Suzhou R&D center, China Maryland wet lab, US Shanghai R&D center, China Innover Innovent Lawrence Fong, M.D. Lewis L. Lanier, Ph.D. Chairman of the SAB . The Efim Guzik Distinguished Professor in Cancer Biology in the Helen Diller Family • The US National Academy of Sciences • Comprehensive Cancer Center at the University of California, San Francisco, where he leads the Cancer Immunotherapy Program Co-director the Parker Institute of Cancer Immunotherapy at UCSF and co-leads the Cancer Immunity and Immunotherapy Program in the Cancer Center • The American Academy of Arts and Sciences American Cancer Society Professor . J. Michael Bishop MD Distinguished Professor Chairman of Microbiology and Immunology at University of California, San Francisco Director of the Parker Institute for Cancer Immunotherapy An accomplished drug discovery scientist and pharma executive, focused on bringing new therapies to patients in need The Chief of Rx Creation at EQRX Over past 25+ years' scientific leadership to drug discovery and early clinical development teams across different modalities and diseases at Sanofi as COO of Research and at Novartis as Oncology Drug Discovery Head • • • Confidential Copyright©2022 Innovent 10#112021 Financials: Income Statement Non-IFRS measure RMB'million Revenue Cost of sales Gross profit (Non-IFRS) Research and development expenses Administrative and other expenses Selling and marketing expenses Royalties and other related payments Year Ended 31 December 2021 % 2020 % 4,260.9 100.0% 2,446.7 100.0% (455.5) (10.7%) (358.7) (14.7%) 3,805.4 89.3% 2,088.0 85.3% (2,116.0) (49.7%) (1,717.8) (70.2%) (640.2) (15.0%) (279.9) (11.4%) (2,541.3) (59.6%) (1,258.0) (51.4%) (719.1) (16.9%) (384.1) (15.7%) 1.1% 130.7 45.1 5.3% (2,166.1) (50.8%) (1,421.1) (58.1%) Other income-government grants Operating loss (Non-IFRS) Other income (excl. Government grants) Other gains and losses 151.8 (74.4) 3.6% (1.7%) 116.1 4.7% (480.0) (19.6%) Other gains and losses derived from operation of funds (4.4) (0.1%) Finance costs (62.5) (1.5%) (68.4) (2.8%) Income tax expense Loss for the year (Non-IFRS) Adjustments to IFRS measure Loss for the year (IFRS) Note: Numbers may not add due to rounding Innovent (87.0) (2.0%) (139.7) (5.7%) (2,242.6) (52.6%) (1,993.1) (81.5%) (895.4) (21.0%) 994.6 40.7% (3,138.0) (73.6%) (998.5) (40.8%) Confidential Copyright©2022 Innovent Revenue In 2021, we generated total revenue of RMB 4,260.9 million, including RMB4,001.1 million for product sales; coupled with RMB259.8 million from License fee income recognized over time. Expenses R&D investments were spending on clinical trials of late-stage and prioritized assets from our robust pipeline globally to further expand our existing product line's indications as well as developing new products in our pipe line, including pre clinical product developments. The planned increase in S&M expenses was due to broader commercialisation activities with respect to TYVYTⓇ(sintilimab injection), BYVASDAⓇ (bevacizumab biosimilar), SULINNOⓇ(adalimumab biosimilar), HALPRYZAⓇ (rituximab biosimilar), PEMAZYRE® (Pemigatinib) and Olverembatinib Non-IFRS loss for the year Non-IFRS loss for the year was RMB2,242.6 million IFRS loss for the year Adjustments to IFRS measure was driven by certain items namely share-based compensation expenses and license fee income recognized at a point in time. 11#122021 Financials: Balance Sheet IFRS-measure RMB'million Bank balances and cash Other financial assets-current Trade receivables Deposits, prepayments and other receivables As at 31 December 2021 8,377.1 2020 7,763.8' Cash balance 644.8 357.3 968.4 475.4 213.3 164.5 As at 31 December 2021, our total cash increased to RMB9,021 million (equivalent to US$1.4 billion) Inventories 1,347.2 705.7 Total Current Assets 11,550.8 9,466.7 Property, plant and equipment 2,693.0 1,584.1 Right-of-Use assets 396.9 327.1 Intangible assets 772.2 32.6 Equity instruments at fair value through other comprehensive income 203.4 Deposits for acquisition of property, plant and equipment 285.9 272.3 Other receivables and tax recoverables 127.7 139.3 Other financial assets Total Non-current Assets Total Assets Trade payables Other payables and accrued expenses Contract liabilities Borrowings Lease liabilities Tax payable Total Current Liabilities Contract liabilities Government grants Borrowings-non Lease liabilities 213.8 12.9 4,692.9 2,368.3 16,243.7 11,835.0 (195.1) (120.6) (2,051.6) (973.7) (355.5) (120.4) (365.0) (255.0) (22.3) (16.2) (60.6) (3,050.1) (1,485.9) (458.5) (588.1) (294.8) (45.8) (2,023.3) (925.2) (86.4) (10.2) Other financial liabilities (0.3) Total Non-current Liabilities Total Liabilities Total Equity Innovent (2,863.3) (1,569.3) (5,913.4) (3,055.2) 10,330.4 8,779.8 Note: Numbers may not add due to rounding Confidential Copyright©2022 Innovent 12#13Part 2 Strategy and 2022 Outlook Innovent 13#14A Clear Strategy to Become a World Class Biopharmaceutical Company Continue expansion of commercial portfolio and performance ☐ ☐ Over a dozen of late stage pipeline Rmb 20bn sales potential for China late stage pipeline in 5 years 0 Driven by innovation, developed through globalization Expand business to include more global development for clinical assets Internally focus on 7 major research taskforces to deliver global potential drugs Leverage BD to empower internal R&D and fuel globalization ◉ ◉ ◉ PoC for four clusters of global assets ongoing and more to come Established global development platform 80+ Innovent Academy Projects Proprietary technology platforms Goal to deliver multiple global potential assets each year ☐ Strengthen technical core-competency ☐ Strengthen global product portfolio ☐ Going from domestic to global market Innovent Confidential Copyright©2022 Innovent 14#15Enriching Our Pipeline with New Platform Technologies and New Therapeutic Areas Well Planned Portfolio Pipeline for Accelerated Growth Solid foundation with de-risked, abundant portfolio for early success Well planned global portfolio for accelerated growth equipped with world-class immunology science, protein engineering, and collaboration Approved (2018-2022.1Q) PD-1 About-to-launch (2022-est.2023) RET Assets with Global or High Market Potential (2024 - 2026) Oncology / Non-oncology (PoCed) KRAS G12C TIGIT, PD-1/TIGIT VEGF/C3, VEGF/ANG-2, VEGF-A/VEGF-C GLP-1/GCGR IL-23 LAG-3, PD-L1/LAG-3 BCMA CAR-T VEGF CD47, PD-L1/CD47,SIRPα PD-1/IL-2, PD-1/IL-2/IL-21 PDE4 PCSK-9 CTLA-4 ROS1 80+ Research Programs Global FIC/BIC Blockbuster (2026-) ADC ADC ISAC T/NK engager Immuno-cytokine Pro-drug Polymeric IgG TNFα CD20 FGFR1/2/3 BCR/ABL VEGFR-2 Small Molecule mAb PI3K8* CAR-T Small Molecule mAb Multi-specific Ab Multi-specific Ab Cell therapy CAR-T Small Molecule mAb Powerful R&D Engine with Novel Science and Technologies *Note: We plan to have communication with China NMPA regarding the potential submission of PI3KS. Incyte has withdrawn the application of parsaclisib in FL, MZL and MCL in the U.S. as a business decision and is not related to any changes in either the efficacy or safety of parsaclisib. innovent Confidential Copyright©2022 Innovent Small molecule mAb 15#16Further Strengthening Commercial Portfolio With High Potential Assets and Proven Commercial Capabilities Fully-fledged Commercial Ecosystem + Validated Track Record More Products into visibility: CD47/LAG3/TIGIT / VEGF Clusters and more from 80 pre-clinical projects... PCSK9 GLP1-GCGR IL-23 KRAS G12C +Rich and De-risked Portfolio = ~RMB 20bn Sales in 5 years For over 15 approved and late stage assets Annual Product Revenue (RMB) YoY growth (%) BCMA CAR-T CTLA-4 ROS1/NTRK PI3K8* 4.0 bn CYRAMZAⓇ +69.0% RETSEVMO®Ⓡ Olverembatinib 2.4 bn PemazyreⓇ +133.0% SULINNOⓇ SULINNOⓇ HALPRYZAⓇ HALPRYZAⓇ 1.0 bn BYVASDAⓇ BYVASDAⓇ TYVYTⓇ TYVYTⓇ TYVYTⓇ 2019 2020 2021 2022-est.2023 2024-2026 *Note: We plan to have communication with China NMPA regarding the potential submission of parsaclisib (PI3K8 inhibitor). Incyte has withdrawn the application of parsaclisib in FL, MZL and MCL in the U.S. as a business decision and is not related to any changes in either the efficacy or safety of parsaclisib. Innovent Confidential Copyright©2022 Innovent Plus Upside Potential From early stage global potential assets, and continuous BD collaboration 16#17Building Leading Commercial Franchise with Expanding Approved and Late-stage Portfolio in Near Term Robust Late Stage Assets for Growth Oncology/Non-Oncology TA Target/Asset PD-1 (sintilimab) Product CD20 (rituximab) TYVYTⓇ HALPRYZAⓇ Status Launched Indication CHL Launched NHL TYVYT Broad Patients and Big Market TYVYTⓇ CYRAMZAⓇ IBI-362 PCSK9 达攸同® W BYVASDAⓇ VEGF/C CTLA-4 Sintilimab injection Hematology BCR/ABL (olverembatinib) NAILIKE Launched CML BCMA CART (Equecabtagene Autoleuce) IBI-326 NDA in 1H2022 MM PI3K (parsaclisib) IBI-376 49 PD-1 (sintilimab) TYVYTⓇ CYRAMZA™ PD-1 (sintilimab) TYVYTⓇ ramucirumab injection 10 mg/ml solution Lung Cancer RET (selpercatinib) ROS1 (taletrectinib) RETSEVMO® IBI-344 Pivotal Ph2 Launched Launch in 2022 Launch in 2022 FL 1L sqNSCLC; 1L nsq NSCLC Pivotal Ph2 HALPRYZAⓇ SULINNOⓇ PemazyreⓇ IL-23 Clear Unmet Olverembatinib PDE4 Need and Good RETESVMO® Opportunity 达伯华 達伯坦> BCMA CAR-T Pemazyre (tablets) ROS1/NTRK 苏立信 PI3K8* 奧爾巴尼 pivorembatinib # KRAS G12C PD-1 (sintilimab) IBI-351 Ph1 TYVYTⓇ Launched EGFR+ NSCLC RET+ NSCLC ROS1+ NSCLC KRAS+ NSCLC 1L HCC VEGF-A (bevacizumab) BYVASDAⓇ Launched 1L HCC Retevmo™ Liver Cancer VEGFR2 (ramucirumab) CTLA-4 (ipilimumab) FGFR1/2/3 (pemigatinib) CYRAMZAⓇ Launched 2L GC IBI-310 PEMAZYRE® Ph3 Launched 1L HCC PD-1 (sintilimab) PD-1 (sintilimab) 耐立克 Gastrointestinal VEGFR2 (ramucirumab) KRAS G12C CLDN18.2 TYVYTⓇ TYVYTⓇ CYRAMZAⓇ IBI-351 IBI-360;IBI-345;IBI-389 Launch in 2022 Launch in 2022 CCA 1L GC 1L ESCC Launched Ph1 Ph1 Franchise and Synergy in TAs Gynecological Metabolic PD-1 (sintilimab) CTLA-4 (ipilimumab) VEGF-A (bevacizumab) PCSK-9 (tafolecimab) GLP1/GCGR TYVYTⓇ IBI-310 BYVASDAⓇ TNFα (adalimumab) IBI-306 IBI-362 SULINNOⓇ Autoimmune IL-23 IBI-112 PDE4 (orismilast) IBI-353 Ph3 in 2023 Oncology | Metabolic | Autoimmune | Ophthalmology Ophthalmology VEGF/C (efdamrofusp alfa) IBI-302 Ph2 Innovent Confidential Copyright©2022 Innovent Pivotal Ph2 Pivotal Ph2 Launched NDA in 1H2022 Ph3 in 2022 Launched Ph3 in 2022 2L GC CRC, PC, etc. GC, PC, etc. 2L CC 2L CC OC, CC nFH, HeFH Diabetics, Obesity RA, AS, Psoriasis, PJIA, Uveitis Psoriasis; Ulcerative colitis Psoriasis; Atopic Dermatitis nAMD 17#18Keep Advancing Robust Pipeline Assets in 2022 Early Stage +8 Рос +5 Pivotal NDA Approved +4 +4 +2 Additional 8-10 novel molecules to enter first-in- human study in China and ex-China PDL1/4-1BB CD73 Additional 5 Molecules to receive PoC or preliminary PoC data and possibly move to further studies VEGF/C LAG-3 SIRPa PD-L1/CD47 CLDN18.2 mAb PD-1/IL-2 PD-L1/LAG-3 TIGIT At least additional 4 molecules are planned to enter pivotal or registrational studies this year ROS1 CD47 KRAS G12C GLP-1/GCGR IL-23 Additional 3 to 4 late stage pipeline to file NDA BCMA CAR-T CTLA-4 PCSK-9 РІЗКО* Anticipate two more products to receive regulatory approval PD-1 VEGF TNFα CD20 FGFR1/2/3 BCR/ABL PD-1/IL-21/IL-2 VEGF/ANG-2 VEGF-A/VEGF-C CLDN18.2 ADC CLDN18.2 CAR-T CLDN18.2/CD3 IGF-1R PDE4 PD-1/TIGIT Innovent VEGFR-2 RET CYRAMZA™ ramucirumab injection 10 mg/ml solution Retevmo Anticipated Pipeline Progress in Year 2022 Confidential Copyright©2022 Innovent *Note: We plan to have communication with China NMPA regarding the potential submission of PI3KS. Incyte has withdrawn the application of parsaclisib in FL, MZL and MCL in the U.S. as a business decision and is not related to any changes in either the efficacy or safety of parsaclisib. 18#19Full Speed for Global Development of Global assets With established global development platform and rich experience, Innovent is accelerating to bring more assets to global clinical trials in the near future. Increasing Global Rights and Global Potential Novel Molecules A dozen of global potential assets in clinics IBI188 (CD47) IBI110 (LAG-3) IBI939 (TIGIT) IBI395 (PD1/IL2/IL21) IBI324 (VEGF/ANG-2) IBI322 (PD-L1/CD47) IBI323 (PD-L1/LAG-3) IBI302 (VEGF/C3) IBI351 (KRAS G12C) IBI333 (VEGF-A/VEGF-C) IBI345 (Claudin 18.2 CAR-T) IBI363 (PD-1/IL2) 4 PoC clusters With global and blockbuster potential • IBI188 (CD47) IBI188 positive POC data readout in 1Q, 2022 IBI322 (PD-L1/CD47) • IBI110 (LAG-3) IBI323 (PD-L1/LAG-3) IBI939 (TIGIT) IBI321 (PD-1/TIGIT) IBI302 (VEGF/C3) IBI324 (VEGF/ANG-2) IBI333 (VEGF-A/VEGF-C) • IBI322 POC data readout in 2H,2022 IBI110 POC data readout in 1H, 2022 IBI323 phase 1a dose escalation ongoing IB1939 POC data readout in 2H, 2022 IBI321 phase 1a dose escalation ongoing IBI302 Phase 1b POC data readout in 2H, 2021 IBI324 and IBI333 FPD in 2022 Enhanced global development platform • Capable to conduct more global MRCTs China Product Development (n=800+) 8 IND already approved Global Clinical Development (n=150) Seamless collaboration between China team and global team, improved efficiency and synergy Established team and expertise in the whole process from IND to BLA Innovent Confidential Copyright©2022 Innovent 19#20Internally Focus on 7 Major Research Taskforces to Deliver Global Potential Drugs With the goal to discover, develop and commercialize potential global blockbuster drugs by 2030, we have 80 research programs at pre-clinical stage supported by state-of-the-art protein and antibody engineering technologies. Innovent Academy Projects (80 projects & 7 taskforce) Proprietary technology platforms Monoclonal antibody ADC traditional ADC ISAC Multi- specific T/NK engager Immuno- cytokine Polymeric Pro-drug IgG ADC platform, Bispecific platform, Phage and yeast display platform, Hybridoma platform....... Global discovery powerhouse US lab established in 2021 Innovent Confidential Copyright©2022 Innovent Shanghai R&D center in operations by 2023 20 20#21BD Strategy is Complementary to Innovent's Globalization Strategy Strengthen Technical Core-Competency Strengthen Global Product Portfolio Early/Mid Stage - GLOBAL RIGHTS GLOBAL R&D PLATFORMS In/out-license out opportunities, accelerate US/EU presence ADCS/ISAC Antibody discovery platforms "Next Generation Targets" Cell Therapies Cytokine Fusions Prodrug Technologies Multi-specific Abs/Proteins New targeted therapies Novel targets ■ mRNA Technology T/NK Cell Validated new targets ADC approaches Intrabody Engagers Going From Domestic to Global Market Late Stage-CHINA RIGHTS Collaborate on China molecules to synergize with pipeline development and commercialization GLOBAL FOOTPRINT Collaborate with experienced and sophisticated partner "Close to market focus" Various validated targets Oncology ■ Non-oncology (metabolic, ophthalmology, immunology) "Establish global brand" ■ Maximize the commercial value of product portfolio Accelerate to meet the global unmet medical needs with good image As our BD transactions align with our strategy - we lay a strong path for globalization. Innovent Confidential Copyright©2022 Innovent 21 24#22Anticipated Milestones in 2022 Regulatory Actions Regulatory Filings New Phase 3 /Pivotal studies Key PoC readouts PoC/Phase 2 data release First-in-human assets ⚫TYVYTⓇ (PD-1): 1L GC • TYVYTⓇ (PD-1): 1L ESCC ⚫ IBI326 (BCMA CAR-T): MM ⚫ IBI306 (PCSK9): nFH • IBI188 (CD47): 1H2022, MDS ⚫ IBI110 (LAG3): 1H2022 • TYVYT® (PD-1): EGFRM NSCLC ⚫ IBI306 (PCSK9): HeFH ⚫IBI310 (CTLA-4): CC ⚫ IBI362 (OXM3): 2H2022, Obesity ⚫IBI362 (OXM3): 2H2022, Diabetes • IBI322 (CD47/PDL1): 2H2022 • IBI110 (LAG-3) • IBI351 (KRAS): 1H2022 • IBI322 (CD47/PDL1) • RETSEVMO® (RET): NSCLC • IBI939 (TIGIT): 1H2022 ⚫ IBI376 (PI3K8): FL* ⚫ RETSEVMO® (RET): MTC • IBI112 (IL-23): 2H2022, Psoriasis ⚫ IBI351 (KRAS) • IBI323 (PD-L1/LAG3): 2H2022 ⚫ IBI939 (TIGIT) • RETSEVMO® (RET): TC • IBI351 (KRAS): 2H2022, NSCLC • CYRAMZAⓇ (VEGF): HCC PemazyreⓇ: mCCA (mainland China) • BYVASDAⓇ : Indonesia • IBI188 (CD-47): 1H2022, MDS • IBI310 (CTLA-4) • IBI362 (OXM3): Diabetes; Obesity • IBI112 (IL-23): Psoriasis • IBI363 (PD-1/IL-2) ⚫ IBI389 (CLDN18.2/CD3) ⚫ IBI325 (CD73) ⚫ IBI333 (VEGF-A/VEGF-C) • IBI324 (VEGF/ANG-2) ⚫ IBI311 (IGF-1R) ⚫ IBI353 (PDE4) • IBI346 (CLDN18.2 CAR-T) ⚫ IBI343 (CLDN18.2 ADC) • More including ADC, cell therapy, Ab, multispecific antibodies, etc. *Note: We plan to have communication with China NMPA regarding the potential submission of PI3K8. Incyte has withdrawn the application of parsaclisib in FL, MZL and MCL in the U.S. as a business decision and is not related to any changes in either the efficacy or safety of parsaclisib. Innovent Confidential Copyright©2022 Innovent 22 22#23Key Takeaways Innovent We have a proven track record with sustained strong performance Innovent We are building solid foundations and an expanding robust pipeline We have a clear strategy and strong financial position to take us to the next level: a world-class biopharmaceutical company Confidential Copyright©2022 Innovent 23 23#24Part 3 Company Overview Innovent 24 24#25Innovent: Transforming From a China Leading Biopharmaceutical Company to a Global Premier Player XIX Innovent Fully Integrated Biopharmaceutical Platform World-class discovery, development, manufacturing and commercialization capabilities 60,000L production capacity, one of the largest in China • Strong commercialization capability with a commercial team of ~3,000 people Comprehensive Global Collaborations Continued collaborations with global pharmaceutical and biotech companies Established an integrated platform with validated capabilities, striving to be the best choice for our partners 阿达水单抗注射液 Innovent 达伯舒 达攸同 苏立信® 达伯华 ® 逹伯坦 利妥昔单抗注射液 Pemazyre (tablets) 耐立克 9 奥雷巴替尼 olverembatinib CYRAMZA™ ramucirumab injection 10 mg/mL solution Confidential Copyright©2022 Innovent Robust Pipeline in Both Oncology and Non-oncology • Robust pipeline across novel therapeutics in both oncology and non- oncology 7 commercialized, 1 NDA, 5 in pivotal trials and 18 in clinical stage * Global R&D Organization and Footprint Global R&D platform with 1,500 talents in China, US and Europe • Innovent Academy as a powerful discovery engine to nourish global FIC and BIC products 25 25#26Robust Pipeline Across Novel Therapeutics - Oncology 6 approved, 1 NDA, 4 in pivotal trials and 14 assets in clinical stage Launched Lilly Products Target (s) Modality Therapeutic Area Commercial Rights TYVYT (sintilimab injection) PD-1 BYVASDA (bevacizumab injection) VEGF-A HALPRYZAⓇ (rituximab injection) Pemazyre (Pemigatinib) CD20 FGFR1/2/3 Monoclonal antibody Monoclonal antibody Monoclonal antibody Oncology Worldwide Oncology Worldwide Pre-clinical IND Approved Status Phase 1 Phase 2 NDA Pivotal Phase 2/ Phase 3 Approved: 1L nsqNSCLC, 1L sqNSCLC, 1L HCC, CHL; NDA submitted: 1L GC, 1L ESCC, EGFRM NSCLC after EGFR TKI Approved: NSCLC, MCRC, HCC, rGBM, r/r CC, OC Oncology Worldwide Approved: nHL, CLL and WG Small molecule Oncology Olverembatinib (BCR/ABL TKI) BCR-ABL/KIT Small molecule Oncology Mainland China, HK, Taiwan, Macau Mainland China, HK, Taiwan, Macau Approved: 2L CCA Approved: 2L TKI-resistant CML Cyramza (ramucirumab) VEGFR-2 Monoclonal antibody Oncology Retsevmo (selpercatinib) RET Small molecule Oncology Mainland China, Mainland China Approved : 2L GC, NDA submitted: 2L HCC IBI-310 CTLA-4 Monoclonal antibody Oncology Worldwide IBI-376 (Parsaclisib) PI3K8 Small molecule Oncology Mainland China, HK, Taiwan, Macau IBI-326 BCMA CAR-T Cell therapy Oncology Worldwide IBI-344 (Taletrectinib) ROS1/NTRK Small molecule Oncology Mainland China, HK, Taiwan, Macau IBI-188 CD47 Monoclonal antibody Oncology Worldwide IBI-110 LAG-3 Monoclonal antibody Oncology Worldwide IBI-322 PD-L1/CD47 Bispecific antibody Oncology Worldwide IBI-351 KRAS Small molecule Oncology Worldwide RETM NSCLC/TC 2L Cervical cancer 1 HCC r/r FL; MZL Myelofibrosis (Incyte's global Phase 3) r/r multiple myeloma ROS1+ NSCLC (1L + 2L) NTRK+ Solid tumors MDS (China) MDS (US) Phase 1b and Phase 2 for multiple cancer types Advanced malignancies Advanced malignancies (US) KRAS+ NSCLC/CRC NSCLC IBI-939 TIGIT Monoclonal antibody Oncology Worldwide IND approved (US) IBI-321 PD-1/TIGIT Bispecific antibody Oncology Mainland China, HK, Macau Advanced malignancies IBI-319 PD-1/4-1BB Bispecific antibody Oncology Mainland China, HK, Macau IBI-323 LAG-3/PD-L1 Bispecific antibody Oncology Worldwide Advanced malignancies Advanced malignancies IBI-315 PD-1/HER2 Bispecific antibody Oncology Worldwide Advanced malignancies IBI-360 CLDN18.2 Monoclonal antibody Oncology Worldwide Advanced malignancies IBI-389 IBI-346 CLDN18.2/CD3 CLDN18.2 Modular CAR-T Bispecific antibody Oncology Worldwide Advanced malignancies Cell therapy Oncology IBI-325 CD73 Monoclonal antibody Oncology IBI-397 SIRPa Monoclonal antibody Oncology Worldwide Worldwide Mainland China, HK, Taiwan, Macau Advanced malignancies Advanced malignancies Advanced malignancies Listed drugs Biologics Coherus. Lilly (Incyte 旦 Lilly Lilly Incyte AnHeart 驹方医药 GENFLEET Lilly Lilly Hanmi Small molecules Clinical progress in the U.S. Robust oncology pipeline with 25 clinical stage assets, covering monoclonal antibodies, bispecific antibodies, CAR-T and small Innovent molecules Confidential Copyright©2022 Innovent 26 26#27Building on Our Oncology Pipeline with Immuno-Oncology Focus Increasing Novelty of the mAb and bi-Abs NDA or Pivotal Stage CD47 (IBI188) PoC Stage CTLA-4 (IBI310) LAG3 (IBI110) Phase 1 PD-L1/CD47 (IBI322) PD-L1/LAG3 (IBI323) PD-1/Her2 (IBI315) PI3K8 (IB1376) ROS1 (IBI344) RET (selpercatinib) Approved PD-1 (TYVYT) VEGF (BYVASDA) CD20 (HALPRYZA) FGFR (Pemazyre) BCR-ABL (NAILIKE) VEGFR2 (Cyramza) Sintilimab Bevacizumab biosimilar Rituximab biosimilar Pemigatinib Olverembatinib Ramucirumab PD-1/TIGIT (IBI321) TIGIT (IBI939) PD-1/CD137 (IBI319) Research Programs PD-1/IL2 (IBI386) PD1/IL2v/IL21v (IBI395) SIRPα (IBI397) KRAS (IBI351) ...... The fully integrated product development platform to realize the value as more novel assets enter into clinical trials Positioning the right molecules for right patients in a robust, abundant and diversified pipeline Explore PD-1's value as a cross-age IO backbone Innovent Confidential Copyright©2022 Innovent 27#28Robust Pipeline Across Novel Therapeutics - Non-oncology Pipeline 1 commercialized, 1 in pivotal trials and 5 assets in clinical stage Therapeutic Area Commercial Rights Products Target (s) Modality SULINNOⓇ (adalimumab injection) TNF-alpha Monoclonal antibody Autoimmune Worldwide Status Pre-clinical IND Approved Phase 1 Phase 2 Pivotal/ Phase 3 NDA RA, AS, Psoriasis, PJIA, Uveitis IBI-306 PCSK9 Monoclonal antibody Metabolic Mainland China, HK, Taiwan, Macau HOFH HeFH nFH Obesity IBI-362 GLP1/GCGR (OXM3) Polypeptide Metabolic Mainland China, HK, Taiwan, Macau Diabetics IBI-302 VEGF/Complement Fusion protein Ophthalmology IBI-112 IL-23 p19 Monoclonal antibody Autoimmune Worldwide Worldwide WAMD High concentration for wAMD Inflammatory enteritis and other autoimmune diseas Psoriasis Launched IBI-353 PDE4 Small molecule Autoimmune Mainland China, HK, Taiwan, Macau IBI-314 SARS-COV2 S Antibody Cocktail Autoimmune Worldwide Moderate to severe psoriasis (to join Union's global Ph3 study) Moderate to severe atopic dermatitis (to join Union's global Ph3 study) COVID19 (Phase 1/2 ongoing) COVID19 ( Phase 1/2 ongoing) Listed drugs Biologics Small molecules Clinical progress in the U.S. Differentiated non-oncology pipeline represents long-term growth potential in major therapeutic areas including autoimmune, metabolic, and ophthalmology Confidential Copyright©2022 Innovent 28 Innovent Lilly ⚫UNION THERAPEUTICS#29Global R&D Structure with Expanding Footprint Innovent R&D Led by Dr. Yongjun Liu President, Innovent Chairman of the Department of Immunology; Founding Director of the Center for Cancer Immunology Research of MD Anderson Cancer Center Global Head of Research of Sanofi 1,500 R&D employees Innovent Academy Product Development BD & global alliance management Project and Portfolio management 300+ employees Discovery engine for global FIC/BIC products 1100+ employees China & global dual clinical development Suzhou R&D center, China Shanghai R&D center, China 20+ employees Partnership with regional and global players EK 20+ employees Maryland wet lab, US Innovent Confidential Copyright©2022 Innovent 29 29#30Fully-fledged Commercial Ecosystem with Validated Track Record Fully-fledged Commercial Ecosystem + National Coverage + Validated Track Record ⚫ Medical Insurance Commercial City Annual Product Revenue (RMB) Affordability Solutions • Commercial Health Insurance • City supplementary Insurance (Huiminbao) Team Coverage 镁信健康 • PAP program MediTrust Health 4.0 bn ~3000 300+ Patient Benefits • Market Education 北京康盟慈善基金会 +69.0% Seng Health Allance Charitable Foundation ⚫ Pharmaceutical Care 心可依 • Clinical trials recruitment Medical Community +133.0% 2.4 bn • B2C/020/DTP • 国药集团 SINOPHARM Hospital Coverage DTP Coverage • Low-tier City Penetration Channel Optimizatio 1.0 bn 5000+ 1000+ •Academic Promotion INC • RWS/RWE 2000 World Core anlang Cacar Shagon ESMO ASCO 2019 2020 2021 We are confident to maintain fast and sustainable revenue growth of our commercial portfolio. Innovent Confidential Copyright©2022 Innovent 30 30#31State-of-the-art Manufacturing Facilities Designed to, Built with, and Operating at International Standards R&D Labs Total capacity: 60,000 L 36,000L Administration Warehouse QC labs 24,000L A total of 60,000L manufacturing facilities in operation, providing competitive advantage on the production cost of products including TYVYTⓇ and other antibody drugs. More capacity is under construction. • Full CMC capability across process development, manufacturing, quality, supply chain and engineering, with talented management and Subject expert with MNC or Oversea experience. • Advanced CMC development capability including perfusion, ADC and high concentration DP platform End-to-end quality system across product lifecycle per international GMP requirements Established world-class CMC Strategic Advisory Board with Strong Support from Global Renowned Top Experts Innovent • • • David LaPré, MBA. Erwin Vanhaecke, Ph.D. An accomplished biopharmaceutical executive Former EVP/Head of Global Pharma Technical Operations Former VP of Global Supply Chain Management in Roche Currently President of DGL Advisors, LLC Holder of a BS degree from Worcester Polytechnic Institute in Worcester, Massachusetts and an MBA from New York University Former Head of Group Quality for Novartis Former SVP of Global Quality Operations Former Chairman of the Ophthalmic Special Interest Group Currently President of Vanhaecke and Associates Winner of Novartis Excellence Award, Albert Nelson Marquis Lifetime Achievement Award and the Cross of Knight in the Order of the Crown (Belgium) Confidential Copyright©2022 Innovent Chiang Syin, Ph.D. Former Chief Quality Officer and SVP of WuXi Biologics Former FDA Associate Country Director Currently President and founder of Meadows Biosolutions, LLC. Over 30 years of experiences working in the regulatory agencies and biotech industry Winner of Foreign Services Award, Scientific Achievement Award, Public Health Achievement, and Outstanding Service Award from FDA • • Charles L. Cooney, Ph.D. Full professor of the Massachusetts Institute of Technology Director of Green Light Bioscience, Mitra Biotech, Mitra RxDx and LayerBio, etc. Adviser to the Singapore MIT Alliance for Research and Technology (SMART) Innovation Center Founding Faculty Director of the Deshpande Center for Technological Innovation at MIT 31#32Innovent is Your Preferred Partner in China "from product development to commercial launch" Pioneering MNC Partnerships Building Platforms for the Future Unlocking Value of Regional Best-in-class Biotech Assets Partnering Lilly "Lilly/Innovent" most comprehensive partnership after 7 years • . Tyvyt: Co-development, co- commercialization in China in 2015 Multiple Expansions: ✓ PD1 Bispecifics (2015) ✓ GLP-1/GCGR (2019) ✓ Tyvyt - Ex-China (2020) ✓ Cyramza and Retsevmo (2022) Innovent • • • Roche Synaffix connect to cure BIOTHERAPEUTICS Adimab EpimAb Hanmi BOLT ALECTOR 劲方医药 GENFLEET Coherus Incyte UNION Biotherapeutics Partnering to Build Capabilities THERAPEUTICS. Untapping Portfolio Potentials Multi-Asset Roche partnership BOLT Multi-Asset ISAC partnership Synaffix-ADC partnership Incyte - Late Stage ✓ 3 Late stage assets - co- developed globally, now launching in China and Taiwan Alector Early Stage Genfleet Early Stage Confidential Copyright©2022 Innovent In-house R&D • BIOSCIENCES etana Biotech 亞盛醫藥 Ascentage Pharma AnHeart Therapeutics BLAK Assisting Local companies to outcompete MNCs in China Avastin biosimilar out-license: ✓ Coherus - North America ✓ Etana - Indonesia • Local partnering: ✓ AnHeart's ROS1 LOKNA Lane Ther ✓ Ascentage's BCR-Abl and BCL2 ✓ IASO Bio's BCMA CART Establishing a world-class biologic platform ✓ Immunology science ✓ Cancer biology ✓ Protein engineering 32 32#33Executives with a Proven Track Record of Success Michael Yu, Ph.D. Founder, Chairman & CEO • Ph.D. in Genetics, Chinese Academy of Sciences Inventor of Oncorine®, Co-inventor of Conbercept and TYVYTⓇ Inventor of 60+ issued patents & patent applications Authorship of 50+ SCI scientific articles & book chapters 24 years of industry experience • 1997 2001: Vice President of R&D, Calydon • 2001 - 2005: Principal Scientist, Cell Genesys 2005: Vice President of R&D, Applied Genetics • . 2006 2010: Founding President and CEO, Chengdu Kanghong Biotech 2011 to date: Founding CEO and Chairman, Innovent Biologics YongJun Liu, Ph.D. President Over 30 years of academic and biopharma experience Former Head of Research, Global R&D at Sanofi and Global Head of Research, CSO at MedImmune, AZ AstraZeneca SANOFI Ronnie Ede Chief Financial Officer Former CFO of Mindray Medical International Ltd. Responsible for Finance, Investor Relation, North America Operations, and Internal Audits Former CFO of Biosensors International Ltd. mindray BIOSENSORS INTERNATIONAL™ Min Liu Chief Commercial Officer Former member of Roche Global Oncology Franchise Leadership Team Vice President of one of two Oncology Business Units at Roche Pharma China, leading marketing & sales efforts for products in lung, GI, and hematology cancers AstraZeneca Roche Vivian Zhang Chief People Officer Responsible for Human Resources, Administration, Legal, PR, GA as well as the operations of the Chairman Office Innovent 信达生物制药 Innovent Confidential Copyright©2022 Innovent 33#34Long-Term Vision Developing core competiveness based on strategic vision, global talent and strong execution 2025 2030 Innovent 2021 • 6 commercialized products More products at late stage development Increased GMP manufacturing capacity Established Labs in the US . Expanded commercialized products in China • Multiple products approved in the global markets . Global commercial supply • More commercialized · products, including first-in-class blockbusters launched globally To be a premier global biopharmaceutical company