#1Innovent Investor Presentation March 2021 Innovent 信达生物制药 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. 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Innovent Confidential Copyright©2021 Innovent Biologics 2#3Agenda 1 Business Updates 2 3 4 5 Innovent Pipeline Review Core Strategy Financial Review Outlook Confidential Copyright©2021 Innovent Biologics 3#4Section 1 Business Update Innovent 信达生物制药#5Innovent: Established Leadership in China with Unique Position to Become a Global Premier Biopharmaceutical Company Leading 2 1 biopharmaceutical Core strategy of global innovation company in China 达伯舒 达攸同® XX 苏立信 达伯华 利器昔单抗注射液 阿达木单抗注射液 Four commercialized products • Leading brand in China PD(L)-1 market; First included in NRDL • 3,600+ total employees • Robust pipeline of 23 assets across diversified clinical stages Innovent • 3 Fully-integrated, multi-function platform Discovery CMC (manufacturing & quality) Commercialization Development Global R&D platform with 1,000+ talents in China, US and Europe Innovent Academy as a powerful discovery engine to nourish global FIC and BIC Expand collaborations with global partners Confidential Copyright©2021 Innovent Biologics World-class discovery, development, manufacturing and commercialization capabilities 24,000L current production capacity with additional 36,000L to be completed, one of the largest in China. LO 5#6Strong Execution and Major Accomplishments in 2020 and YTD 2021 3.84bn 1-4 4 6 4 5 7 4 6 Commercial portfolio NDA approvals 2020 total revenue: RMB 3.84bn (product revenue RMB 2.37bn) TYVYTⓇ - (1L nsqNSCLC¹) BYVASDAⓇ • SULINNOⓇ 4 products - TYVYTⓇ - BYVASDAⓇ - SULINNOⓇ HALPRYZA® • • HALPRYZAⓇ • • NDA accepted Pivotal trial data release Late-stage assets New molecules Overseas out-licensing into IND deals TYVYTⓇ • TYVYTⓇ • IBI-310 (CTLA-4) • IBI-322 (PD-L1/CD47) ⚫ Eli Lilly Assets under global development TYVYTⓇ (PD-1) - (1L nsqNSCLC) - (1L nsqNSCLC) (TYVYT®) • IBI-306 (PCSK9) IBI-939 (TIGIT) - (1L sq NSCLC) (1L sq NSCLC) • Coherus (1L HCC) 1 - (2L sq NSCLC) IBI-375 (FGFR) • (1L HCC) (2L ESCC) TYVYTⓇ+BYVASDAⓇ IBI-376 (PI3KS) IBI-362 (OXM3) ⚫ IBI-375 (FGFR) • IBI-112 (IL-23) . Roche - (2L MCCA, Taiwan) IBI-326 (BCMA- CART) • IBI-319 (PD-1/4-1BB) (BYVASDAⓇ) (Bispecific, Cell therapy) ⚫ IBI-322 (PD-L1/CD47) ⚫ IBI-939 (TIGIT) . BYVASDAⓇ (VEGF) • IBI-188 (CD47) BYVASDA • IBI-323 (PD-L1/LAG3) • IBI-110 (LAG-3) • - (1L HCC)1 • IBI-102 (GITR) PT Etana¹ (BYVASDAⓇ) • Innovent Academy Dr. Yong Jun Liu joined as President Organization • US Lab in setup • Over 3,600 employees Capacity • Production line in operation expanded from 5,000L to 24,000L Additional 36,000L stainless production line in construction Note: 1. 1L nsq NSCLC of TYVYT was approved in Feb 2021. 1L HCC's and 2L sq NSCLC's NDA acceptance in Jan 2021; Collaboration with PT Etana in Jan 2021 Confidential Copyright©2021 Innovent Biologics Innovent#7Anticipated Milestones in 2021 (to Early 2022) 5 5 9 7 Multiple Multiple Capacity Commercial portfolio • TYVYTⓇ • BYVASDAⓇ • SULINNOⓇ . HALPRYZAⓇ . IBI-375 (Taiwan) Potential NDA Potential NDA • approvals TYVYTⓇ - (1L sq NSCLC) - (1L HCC) - (2L sqNSCLC) • BYVASDA (1L HCC) IBI-375 (2L mCCA, Taiwan) • acceptance TYVYTⓇ - (1L ESCC) (2L EGFR+NSCLC) (1L GC) (NSCLC, US BLA) IBI-375 (FGFR) (2L mCCA, mainland China) IBI-375 (FGFR) (2L MCCA, Hong Kong) • IBI-376 (PI3K8) • (r/r FL) BYVASDAⓇ (Indonesia NDA) IBI-326 (BCMA CART) - (r/r MM) Pivotal trial data release / readout • TYVYTⓇ (2L sqNSCLC) Prioritized clinical assets Early data readout Capacity expansion Complete construction of 36,000L production lines Increase total production capacity from 24,000L to 60,000L • Phase 3 ongoing • IBI-310 (CTLA-4) IBI-310 (CTLA-4) • - (1L ESCC) - IBI-306 (PCSK9) IBI-362 (OXM3) - (1L GC)1 Plan to start Phase 3 • IBI-302 - (2L EGFR+ NSCLC) - IBI-375 (FGFR) (VEGF/compliment) - IBI-376 (PI3KS) • IBI-188 (CD47) . IBI-318 (PD-1/PD-L1) . Plan to start Phase 2 • IBI-322 (PD-L1/CD47)★ • IBI-110 (LAG-3)★ • IBI-939 (TIGIT)⭑ IBI-375 (FGFR) 2L MCCA • IBI-376 (PI3KS) • r/r FL IBI-306 (PCSK9) HeFH1 IBI-362 (OXM3) IBI-302 (VEGF/compliment) Phase 1 ongoing - IBI-322 (PD-L1/CD47) • IBI-110 (LAG-3) IBI-939 (TIGIT) IBI-315 (PD-1/HER2) By end of 2021, we expect to have five commercial products and diverse clinical stage assets that drive long-term upside potentials. Innovent Note: 1) Expect data read out for TYVYT in 1L GC and for IBI-306 in HeFH in 2021 Confidential Copyright©2021 Innovent Biologics 7#8Leverage Unique Commercialization Capability to Capture Rapid Growth in China Market • • Diversified portfolio 该追利单抗注射液 贝优珠单抗注射液 阿木学抗注射液 Simina inction Hovaizumab injectin drix ng 利妥昔单抗注射 4 commercialized products 23 assets in pipeline covering Oncology, Autoimmune, Ophthalmology, Metabolism 24% Commercialization team • Expanded experienced sales and marketing team to ~1,600 employees • 2020 world new cancer incidents: 19.3m • China new cancer incidents: 4.6m, 24% (Vs US 2.3m, 12%) Others Cervix 22% Lung 18% uteri 2% China new Prostate cancer 3% Colorectum 12% 2020 world cancer moral cases: 10m Pancreas incidents • China cancer moral cases: 3m, 30% (Vs US 0.6m, 6%) 3% Thyroid 5% Oesophagus Liver 7% 9% Stomach Breast 10% 9% Indication advantages • Competitiveness in large indications (NSCLC, HCC, GC, ESCC etc) Advanced line treatments with excellent clinical data (e.g. 1L nsq/sq NSCLC, • 1L HCC etc) Note: Cancer data source IARC 2020 report Innovent Confidential Copyright©2021 Innovent Biologics Network coverage Expanded coverage to about 4,000 hospitals and 900 DTP/pharmacies across 300+ cities at the end of 2020 • Early mover in market penetration to lower tier cities in 2020 8#9TYVYTⓇ as Leading PD-1 brand in China Market with Unveiled Huge Potentials in Global Markets RMB mn 2,500 2,000 1,500 Strong sales growth since launch First-mover Advantage Comprehensive Development Strategy Innovent [新 Shee 信迪利单抗注射液 Sintilimab Injection 10ml:100mg 信惠利单抗注射液 10ml: 100mg RMB 2,290mn Out-license Partnership with Eli Lilly Maintain strong leadership position in China market Backbone role for oncology TA Best positioned to explore huge potential in global markets • First PD-1 included in NRDL in 2019 RMB 1,016mn • Strong revenue growth and leading market share 1,000 500 NMPA approval in Dec 2018 New indication approvals on large cancers upcoming: 1L nsq NSCLC (approved in Feb 2021), 1L sqNSCLC, 1L HCC, 2L sqNSCLC • • The first marketed China PD-1 out-licensed to global MNC pharmaceutical company Eli Lilly plans to file BLA (NSCLC) in 2021 • Expand to external new combos • Extensive network and experienced marketing and • sales team (>1500 ppl) Combo/Bispecific with internal pipeline (CTLA-4, TIGIT, FGFR, LAG-3, VEGF etc) • Global PD-1 market size and valuation multiple times larger than that in China market • Manufacturing capacity: 24,000L in operation and additional 36,000L in construction • Achieve the breakthrough and focus on 4 key tumor types (Lung, Liver, Gastric, Esophagus) 2018 2019 2020 Innovent is confident to maintain TYVYTⓇ as the leading PD-1 brand in China market and is best positioned to capture the much larger potential in global markets. Innovent Confidential Copyright©2021 Innovent Biologics 6#10State-of-the-art Manufacturing Facilities Designed to, Built with, and Operating at International Standards R&D Labs Total capacity in the future: 60,000 L 36,000L Warehouse 24,000L QC labs Innovent Administration Innovent • Manufacturing facilities (a total of 24,000L bioreactors) received cGMP certification from the NMPA for manufacturing TYVYTⓇ (sintilimab) as well as three biosimilar products Additional 36,000L capacity expected to complete construction and validation in 2021 Facilities were designed to meet FDA, EMA, PMDA and NMPA standards, and support the full process from DS to DP. DS, DP and GMP were successfully audited Facilities have undergone ordinary course, comprehensive annual audits to evaluate compliance with industry cGMP and quality compliance standards Manufacturing team has extensive experience at multi-national bio-pharmaceutical companies Confidential Copyright©2021 Innovent Biologics 10 Innovent#11Comprehensive Global Partnership Enhances Our Overall Development from R&D to Commercialization Continued solid collaborations with global pharmaceutical and biotech companies Lilly. Roche • Total deal value exceeds US$2.5bn¹ Including upfront payment of US$256m¹ Access to Roche's bispecific antibody and Universal CART technologies Out-license ex-China global rights of up to US$ 2.1bn payments and royalties • • As integrated platform with validated capabilities, Striving to be the best choice for our partners R&D: 1000+ in-house R&D team with top expertise and execution capability in clinical operation, quality control, registration experience to accelerate the R&D progress for our partners CMC: World-class CMC with best quality system validated by long MNC partnerships to support potential production needs of our partners Commercial: 1600+ commercial team with strong presence in oncology proven by TYVYT's leading position in China PD-1 market within 2 years of launch, and rich experienced professional team in non-oncology. THE UNIVERSITY OF TEXAS MD Anderson Cancer Center Making Cancer History Coherus BIOSCIENCES Hanmi Incyte . Licensed in 3 clinical-stage molecules Demonstrated our capability to help global partners bring their innovative therapies into China Note: 1. Including both 2015 and 2020 strategic deals with Eli Lilly, not including royalties Innovent EpimAb Biotherapeutics etana Biotech sirna mics Advancing RNAi Therapeutics Confidential Copyright©2021 Innovent Biologics We Discover New Drugs 微芯生物 CHIPSCREEN SHENOGEN PHARMA GROUP 驯鹿医疗 ALECTOR of Adimab в որ Hutchison Medi Pharma IASO BIOTHERAPEUTICS 11#12Executives with a Proven Track Record of Success Visionary Founder, CEO and Chairman Supported by Experienced Management Team Dr. Michael Yu Founder, CEO & Chairman • Ph.D. in Genetics, Chinese Academy of Sciences Inventor of Oncorine®, Co-inventor of Conbercept and TYVYTⓇ, three innovative biologics in China 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 Dr. Yong Jun Liu 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 SANOFI AstraZeneca Innvent 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 Copyright©2021 Innovent Biologics Roche Vivian Zhang Chief People Officer Responsible for Human Resources, Administration, Legal, PR, GA as well as the operations of the Presidential Office Innovent 信达生物制药 12#13Section 2 Pipeline Review Innovent 信达生物制药#14Robust Pipeline Across Novel Therapeutics 4 commercialized assets, 5 assets in pivotal trials and 14 assets in clinical stage Status Products Target (s) Therapeutic Area Commercial Rights Pre-clinical IND Approved Phase 1 Phase 2 Pivotal Phase 2/ Phase 3 NDA Launched Lilly TYVYT (sintilimab injection) PD-1 Oncology Worldwide BYVASDA (bevacizumab injection) VEGF-A Oncology Worldwide SULINNOⓇ (adalimumab injection) TNF-alpha Autoimmune Lilly HALPRYZA (rituximab injection) CD20 Oncology Worldwide Worldwide 2L MCCA (pivotal Phase 2 in mainland China); 2L mCCA (NDA accepted in Taiwan market) Incyte IBI-375 (Pemigatinib) FGFR1/2/3 Oncology Mainland China, HK, Taiwan, Macau 1L CCA (joined Incyte's global Phase 3 trial) HOFH (China) IBI-306 PCSK9 Metabolic Mainland China, HK, Taiwan, Macau HeFH (China) Worldwide IBI-310 CTLA-4 Oncology Incyte IBI-376 (Parsaclisib) РІЗКО Oncology Mainland China, HK, Taiwan, Macau IBI-326 BCMA-CART Oncology Worldwide Lilly IBI-362 OXM3 Metabolic IBI-188 Lilly IBI-318 CD47 Oncology PD-1/PD-L1 Mainland China, HK, Taiwan, Macau Worldwide Oncology Mainland China, HK, Macau nFH (China) Adjuvant melanoma (China) 1L HCC (China) 2L cervical cancer (China) r/r FL and MZL (China) Myelofibrosis (Incyte's global Phase 3) r/r MM (China) Obesity (China) Diabetes (China) MDS (China) MDS (US) r/r AML (China) SCLC (China) NK/T-cell lymphoma (China) CSCC (China) Neo-adjuvant/adjuvant HCC (China) WAMD (China) IBI-302 IBI-110 Hanmi IBI-315 VEGF/Complement proteins Ophthalmology Worldwide IBI-939 LAG-3 PD-1/HER2 TIGIT Oncology Worldwide Advanced malignancies (China) Oncology Worldwide Advanced malignancies (China) Oncology Worldwide Advanced malignancies (China) IND approved (US) IBI-322 PD-L1/CD47 Oncology Worldwide IBI-112 IL-23 p19 Autoimmune Worldwide Advanced malignancies (China) Advanced malignancies (US) Inflammatory enteritis and other autoimmune diseases (China) IBI-101 OX40 Oncology Worldwide Solid tumor (China) IBI-323 LAG-3/PD-L1 Oncology Worldwide IND approved (China) IBI-102 GITR Oncology Worldwide IND approved (China) Lilly Lilly IBI-321 IBI-319 PD-1/4-1BB Oncology Mainland China, HK, Macau IND approved (China) PD-1/TIGIT Oncology Mainland China, HK, Macau IND accepted (China) Listed drugs Biologics Small molecules Clinical progress in the U.S. Innovent Confidential Copyright©2021 Innovent Biologics 14#15Oncology Pipeline Summary: 18 Assets in Pipeline under Development (3 products launched, 15 assets in clinical trials) Oncology Pipeline IBI-308 (PD-1) IBI-301 (CD20) IBI-305 (VEGF-A) IBI-310 (CTLA-4) IBI-102 (GITR) IBI-188 (CD47) IBI-101 (OX40) IBI-110 (LAG-3) IBI-939 (TIGIT) IBI-375 (FGFR1/2/3) IBI-376 (PI3K8) Innovent N=C-BH3 HC HCN NC BH3 MANTIBODY SMALL MOLECULE H NEC B BISPECIFIC ANTIBODY SHS CAR-T CARC CAR T cell Confidential Copyright©2021 Innovent Biologics IBI-318 (PD-1/PD-L1) IBI-315 (PD-1/HER2) IBI-319 (PD-1/4-1BB) IBI-321 (PD-1/TIGIT) Roche partnership BsAb IBI-322 (PD-L1/CD47) IBI-323 (LAG-3/PD-L1) Tumor cell IBI-326 (fully human BCMA CAR-T) Roche partnership 15#16Non-oncology Pipeline Summary: 5 Assets in Pipeline under Development (1 product launched, 4 assets in clinical trials) Non-oncology Pipeline One-carbon metabolism + IBI-362 (GLP1/GCGR) IBI-306 (PCSK9) Innovent TNF-a IL-6 FGF21 + Carbohydrate Fat, protein 4 Liver fat DNL B-oxi Streptococcus Folate DIA/Obesity/NASH CARDIOVASCULAR OPHTHALMOLOGY AUTO-IMMUNE Confidential Copyright©2021 Innovent Biologics IBI-302 (VEGF/Complement) IBI-303 (TNF-α) IBI-112 (IL-23 p19) 16#17Clinical Development Programs for Sintilimab 2 indications approved, 3 sNDAs accepted, over 20 clinical trials ongoing globally INDICATION MONO-/COMBO-THERAPY (OTHER COMPONENTS) China r/r Classical Hodgkin's Lymphoma 1L Non-squamous NSCLC 1L Squamous NSCLC 2L Squamous NSCLC 1L Hepatocellular Carcinoma EGFR+ TKI Failure NCSLC (MRCT) 1L Gastric Cancer 1L Gastric Cancer (CPS ≥10) 1L Esophageal Carcinoma (MRCT) 2L Classical Hodgkin's Lymphoma Melanoma (adjuvant) 1L Hepatocellular Carcinoma 2L Hepatocellular Carcinoma 2L/+ Cervical cancer 2L ESCC r/r NK/T-cell Lymphoma 3L CRC Refractory Gastrointestinal Cancer 1L Gastric Cancer Mono Combo (pemetrexed and cisplatin) Combo (gemcitabine and platinum) Mono Combo (IBI-305/biosimilar to bevacizumab) Combo (IBI-305/biosimilar to bavecizumab) Combo (capecitabine and oxaliplatin) Combo (Ramucizumab) Combo (paclitaxel and cisplatin/5-FU and cisplatin) Combo (ICE) Combo (IBI-310/CTLA-4 mAb) Combo (IBI-310/CTLA-4 mAb) Combo (IBI-310/CTLA-4 mAb) Combo (IBI-310/CTLA-4 mAb) Mono Mono Combo (IBI-310/CTLA-4 mAb) Mono 2L NSCLC 1L/2L Melanoma 1L Squamous NSCLC 1L/2L Neuroendocrine Tumor Solid Tumors/colorectal cancer Solid Tumors/cholangiocarcinoma 3L colorectal cancer 2L Hepatocellular Carcinoma U.S. 1L Esophageal Carcinoma (MRCT) Combo (capecitabine and oxaliplatin) Mono Mono Combo (gemcitabine and cisplatin) Combo (EP/IP) Combo (Fruquintinib) Combo (Surufatinib) Combo (Chidamide) Combo (siRNA) Combo (paclitaxel and cisplatin/5-FU and cisplatin) Solid Tumors Mono Late Stage Endometrial Carcinoma Mono STATUS PHASE 1 1A 1B PHASE 2 PHASE 3 NDA FILED NDA APPROVED SNDAs accepted by the NMPA Symbols: = completed; = completed patient enrollment; = in progress; = to be initiated within next quarter.#18ORIENT-11 (1L nsqNSCLC): Sintilimab Combination Achieved Significant Improvement in both PFS and OS Progression-free survival 1 PFS (by IRRC) Events HR (95% CI) P Sint+chemo 42.1% PL+chemo 65.6% 0.482 (0.362, 0.643) <0.00001 0.75- Sint+Chemo PL+Chemo 0.5 Sintilimab in combination with chemo demonstrated larger decrease of progression and death hazard as 1L therapy for non-squamous NSCLC Product Design PFS (by IRRC) ORIENT-11[1] Sintilimab Double-blind KEYNOTE-189[2] Pembrolizumab Double-blind NCT03663205[3] NCT03134872[4] Tislelizumab Open label Camrelizumab Open label 0.25- Median (95% CI), months 0 2 4 -10 6 8 10 12 14 16 Number at Risk Months HR (95% CI) Sint+Chemo 266 231 202 143 63 25 3 3 0 P 0.48 (0.36, 0.64) <0.00001 0.52 (0.43, 0.64) <0.001 8.9 (7.1, 11.3) vs 5.0 (4.8, 6.2) 8.8 (7.6, 9.2) vs 4.9 (4.7, 5.5) 9.7 (7.7, 11.5) vs 7.6 (5.6, 8.0) 11.3 (9.5, NR) vs 8.3 (6.0, 9.7) 0.61 (0.46, 0.80) 0.0002 0.65 (0.46, 0.90) 0.0044 PL+Chemo 131 106 77 42 19 4 1 0 0 OS Survival probaility 0.75 1 OS Sint+Chemo PL+Chemo # 4+ +#+| 0.5 Events 6-mo OS rate HR (95% CI) P VIRTUAL Sint+chemo 19.2% 89.6% 0.25 0.609 (0.400,0.926) 0.01921 PL+chemo 29.8% 80.4% T T 0 2 4 6 8 10 12 14 16 Number at Risk Months Sint+Chemo 266 262 248 206 134 72 18 3 0 PL+Chemo 131 128 113 92 52 61 33 8 1 0 Innovent Median (95% CI), months HR (95%CI) P ESMO congress MHC-II antigen presentation pathway as a predictive biomarker for sintilimab plus chemotherapy as first-line treatment of non-squamous NSCLC Biomarker analysis of ORIENT-11 Study Yunpeng Yang M.D. Department of Medical Oncology, Sun Yat-sen University Cancer Center State Key Laboratory of Oncology in South China Collaborative Innovation Center for Cancer Medicine Guangzhou, China NR vs NR 0.61 (0.40, 0.93) 0.01921 20 NR vs 11.3 (8.7, 15.1) Not reported 0.49 (0.38, 0.64) <0.001 2020 Presidential Symposium AUGUST 8, 2020 | WORLDWIDE ORIENT-11: sintilimab + pemetrexed + platinum as first-line therapy for locally advanced or metastatic non-squamous NSCLC Li Zhang, Yunpeng Yang, Zhehai Wang, Jian Fang, Qitao Yu, Baohui Han, Shundong Cang, Gongyan Chen, Xiaodong Me", Zhixiong Yang, Rui Ma, Minghong Bi, Xiubao Ren, Jianying Zhou, Baolan Li State Key Laboratory of Oncology in South China. Collaborative innovation Center for Cancer Medicine, Sun Yat-sen University Cancer Center, China Shandong Cancer Hospital, China Peking University Cancer Hospital China: Tumor hospital of GuangZhuang Autonomous Region. China Shanghai Chest Hospital China: Hanan provincial people's hospital, China Hartin Medical University Cancer Hospital, China Anhui Provincial Hospital, China. "Affiliated Hospital of Guangdong Medical University Chine "Liaoning Cancer Hospital China The First Amiated Hospital of Bengbu Medical College China: Tian Cancer Institute & Hospital China The First Amiated Hospital Zhejiang Universty China Beijing Chest Hospital Capital Medical University. China Journal of Oncology NR (17.1, NR) vs 20.9 (14.2, NR) 0.72 (0.52, 1.01) 0.0272 ORIGINAL ARTICLE ARTICLES IN PRESS Log in at IASLC Log in Claim Efficacy and safety of sintilimab plus pemetrexed and platinum as first-line treatment for locally advanced or metastatic nonsquamous non-small cell lung cancer: a randomized, double-blind, phase 3 study (ORIENT-11) Yuripang Yang Zheha Wang Jan Fang Donglei Zhu Wen Zhang Li Zhang X + how at autho Confidential Copyright©2021 Innovent Biologics [1] Zhang L, et al. WCLC 2020 [2] Gandhi L, et al. NEJM 2018. DOI: 10.1056/NEJMoa1801005 [3] Lu S, et al. ESMO 2020 [4] Zhou CC, et al. WCLC 2019 18#19ORIENT-32 (1L HCC): Global First PD-1 Combination Study that Met Primary Endpoints Overall Survival (%) 100 75 50 OS 62.4% 48.5% Arms Events, n (%) 25 Median OS (mo) (95% CI) HR P value ab (95% CI)* Sin + Bev 122 (32.1) NE (NE, NE) <0.0001 0.569 (0.431, 0.751) Sor 87 (45.5) 10.4 (8.5, NE) Progression-free Survival (%) PFS (by IRRC) Arms Events, n (%) Median PFS (mo) (95% CI) P value & b HR (95% CI)* Sin + Bev 245 (64.5) 4.6 (4.1, 5.7) 0.565 <0.0001 (0.455, 0.701) Sor 142 (74.3) 2.8 (2.7, 3.2) 43.6% 32.7% 19.5% M AMA :11.6% 0 2 4 6 8 Months 10 12 14 16 0 2 4 6 8 10 12 14 Months Number at risk Sin + Bev 380 372 351 Sor 191 175 153 314 132 235 95 126 50 52 57 11 22 2 0 0 Number at risk SinBev 380 Sor 191 267 111 197 55 144 89 37 7 24 13 4 1 0 Sintilimab in combination with BYVASDAⓇ (bevacizumab biosimilar): the global first PD-1 combo study that met primary endpoints with significant improvement in both OS and PFS for 1L HCC Proffered Paper presentation VIRTUAL 2020 ESMO ASIA at the ESMO Asia Virtual Congress 2020 ESMO ASIA 2020 VIRTUAL Innovent 20-22 NOVEMBER 2020 Confidential Copyright©2021 Innovent Biologics 19#20IBI-310 (CTLA-4) Development Plan Overview Melanoma subtypes Part A (1a): IBI-310 N=10 Mucosal Acral 6 (60%) 5 (31.3%) Phase 1a/1b Safety Data (N=27) Part B+C (1b): IBI-310 + sintilimab N=17 IBI-310 + Sintilimab Development Program Overview . Melanoma Phase 3 trial in adjuvant setting (First patient dosed in China in Apr 2020) Cervical Clinical 3 (30%) 2 (12.5%) - Phase 2 trial in 2nd line and above Non-chronic sun damaged progress 1 (10%) 9 (56.3%) chronic sun damaged 0 1 (5.9%) Part A (1a): IBI-310 N=10 Part B+C (1b): IBI-310 + sintilimab N=17 HCC (First patient dosed in China in Dec 2020) Phase 3 trial in 1st line (First patient dosed in China in Feb 2021) DLT No DLT No DLT . Plan to complete patient enrolment for Cervical in 2021 AE > grade 3 No AEs of grade 3 One AE of grade 3: AST increased 2021 plan • Plan to present the Phase 1b study data of IBI-310 in HCC IBI-310 has shown good safety profile in Phase 1a/1b studies and progressed into registrational trials for multiple indications. Disclosed at ASCO 2020 Abstract Innovent Confidential Copyright©2021 Innovent Biologics 20 20#21IBI-375 (FGFR1/2/3) Development Plan Overview Enzyme Inhibitory Activity of IBI-375 IBI-375 (pemigatinib) Development Program Overview Parameter Assay Type IBI-375 BGJ3981 TAS-120² ARQ 0873 JNJ-427564934 FGFR1 IC50 (nM) Enzyme 0.4 0.9 3.9 4.5 1.2 Desired FGFR2 IC50 (nM) Enzyme 0.5 1.4. 1.3 1.8 2.5 target activity FGFR3 IC 50 (nM) Enzyme 1.2 1 1.6 4.5 3 FGFR4 IC50 (nM) Enzyme 30 60 8.3 34 5.7 Off-target activity VEGFR2 IC50 (nM) Enzyme 71 180 UNK 21 36.8 H-1581 (FGFR1 amp Lung Ca) KG-1A (FGFR1 translocated MPN) Cell viability 14 Cell viability 3 KATO-III (FGFR2 amp Gastric Ca) Cell viability RT-112 (FGFR3-TACC3 Bladder Ca) Cell viability 3 7 5 Clinical 130 Cellular potency 200 0.1 progress UNK 650 1.3 1. Guagnano et al (2011) J. Med. Chem; 2. Babina & Turner (2017), Nature Reviews Cancer; 3. Hall et al (2016) PLOS ONE 11(9); 4. Lorenzi et al (2017) Molecular Cancer Therapeutics Fight202 study: IBI-375 in Patients with Previously Treated Cholangiocarcinoma outside China . - MCCA Submitted NDA application and accepted in Taiwan market for IBI-375 for 2L mCCA in 1H 2020 Completed patient enrolment of Phase 2 of IBI-375 for 2L mCCA in mainland China in 2020 Joined Incyte-sponsored global Phase 3 trial (FIGHT-302) for IBI-375 for 1L MCCA Global updates from Incyte In Mar 2021, PMDA validated Incyte's marketing authorization application for pemigatinib for mCCA In Apr 2020, FDA approved pemigatinib for mCCA OS Median OS (95% CI), mo Cohort A Cohort B -Cohort C 21.1 (14.8-NE) 6.7 (2.1-10.6) Expect to receive NDA approval for IBI-375 from Taiwan FDA for 2L MCCA in 1H 2021 4.0 (2.3-6.5) 2021 plan • Plan to file NDA for IBI-375 for 2L mCCA in both mainland China and Hong Kong around the mid of 2021 1.0 PFS 0.9 1.0 0.9- 0.8 0.8- 0.7 Median PFS (95% CI), mo 0.7- 0.6- Cohort A 6.9 (6.2-9.6) 0.6- 0.5 Cohort B 2.1 (1.2-4.9) 0.5- 0.4 0.4- Cohort C 1.7 (1.3-1.8) 0.3 0.3- 0.2 0.2- 0.1 0.1- 0 0 D 2 4 6 8 10 12 14 16 18 20 22 24 0 2 4 6 8 10 12 14 16 18 20 22 24 26 Abou-Alfa GK, et al. Lancet Oncol. 2020 May;21(5):671-684. IBI-375 exhibits a Best-in-class profile with excellent potency for FGFR 1, 2, and 3. Fast progressing IBI-375 with pivotal Phase 2 ongoing in China and several more indication development in plan. Innovent Confidential Copyright©2021 Innovent Biologics 24 21#22IBI-376 (PI3KS) Development Plan Overview IBI-376 demonstrated a high rate of rapid and durable response in r/r FL and r/r MZL Phase 2 Study Evaluating the Efficacy and Safety of Parsaclisib in Patients with Relapsed or Refractory Follicular Lymphoma (CITADEL-203) (ASH 2020) Percentage Change From Baseline 50- 40- 30- 20 10 0 -10- -20- -30 -40- Weekly Group Daily Group -50- -60- -70- -80- -90- -100 90% (106/118) of efficacy evaluable All Treated Patients and 91% (86/95) of efficacy evaluable patients in the Daily Group had tumor regression at target lesions Efficacy Evaluable All Patients (86 Responders) Median DOR (95% CI), months 15.9 (12.0-NE) Efficacy Evaluable Daily Group (71 Responders) 14.7 (12.0-17.5) Overall ORR: 73% (95% CI: 64-81) Efficacy Evaluable All Treated Patients (N=118)* 2% 3% IBI-376 (parsaclisib) Development Program Overview Preliminary ORR by IRC Clinical DG ORR: 75% (95% CI: 65-83) Efficacy Evaluable DG (N=95)* 2% 2% progress 6% CR 14% CR PR 15% SD SD PD NE NA 14% CR 17% SD 59% PR Efficacy Evaluable 61% PR 77% of responses occurred at first assessment ORR by investigator assessment efficacy evaluable All Treated Patients 73% (95% CI: 64-81) Efficacy Evaluable Daily Group (N=95) 15.8 (13.8-19.1) All Patients (N = 118) Median PFS (95% CI), months 15.8 (13.2-19.3) WG: 20mg, qd, 8 weeks; 20mg, qw afterward; DG: 20mg, qd, 8 weeks; 2.5mg, qd afterward; Phase 2 Study Evaluating the Efficacy and Safety of Parsaclisib in Patients with Relapsed or Refractory Marginal Zone Lymphoma (CITADEL-204) (ASH 2020) 2021 plan r/r FL and MZL Started patient enrolment of pivotal Phase 2 trial for IBI-376 for r/r FL and MZL in China in Apr 2020 Myselofibrosis Filed IND application for IBI-376 in China for Incyte-sponsored global Phase 3 trial for 2L myselofibrosis in end 2020 Plan to start patient enrolment of IBI-376 in China for Incyte- sponsored global Phase 3 trial for 2L myelofibrosis in 2021 Plan to complete patient enrolment of IBI-376 for pivotal Phase 2 trial for r/r FL and MZL in China Plan to submit NDA to NMPA for IBI-376 for r/r FL between late 2021 to early 2022 Efficacy Compared within Different PI3K Inhibitors IRC Assessment ORR: 57.0% ORR: 56.9% 95% CI: 46.7-66.9 95% CI: 44.7-68.6 70% 50% 40% 51.0% 30% 51.4% PR 20% 30.0% SD 10% 6.0% 31.9% SD 5.6% est Percentage Change From Baseline 100- 80- 60- 40 20- 0 -20- -40- -60- -80- -100- Target lesion size Spleen size Medicine Target Parsaclisib (US data) PI3Kō Incyte Idelalisib PI3Kō Gilead Duvelisib PI3Kō, Y Infinity . All Treated Patients (N = 100) Daily Group (N=72) CI, confidence interval; CR, complete response; PR, partial response; SD, stable disease. 67% (38/57) of responders had an objective response (CR or PR) at first assessment Median time to first response was 8.1 weeks Umbralisib PI3Kō All Treated Patients (57 Responders) Daily Group (41 Responders) Median DOR (95% CI), months 12.0 (9.3-NE) NR (8.1-NE) Median PFS (95% CI), months All Treated Patients (N = 100) 19.4 (13.7-NE) Daily Group (N = 72) NR (11.0-NE) Copanlisib PI3K Bayer NE, not evaluable; NR, not reached. Co. DLBCL (n) 30% (23) Efficacy-ORR, % FL (n) 73% (118) MCL (n) 67% (9) MZL (n) 57% (100) NA 54% (72) 40% 57% NA 41%*(83) NA 33% (18) TG 27% (11) 45% (22) 79% (11) Therapeutics NA NA 25% (40) 58.7% (104) 64% (11) 69.6 % IBI-376 (PI3KS) is a highly selective, potent and differentiated PI3K inhibitor designed to reduce hepatotoxicity. IBI-376 shows the Best-in-Class potential in multiple B cell malignancies; pivotal Phase 2 trial is ongoing in China. Innovent Confidential Copyright©2021 Innovent Biologics 22 22#23IBI-306 (PCSK9) Development Plan Overview Data of SAD and MAD was disclosed in ESC, Aug 2020 IBI-306 Development Program Overview The point estimate and 95% confidence interval for the difference in percent reduction from baseline in LDL-C at 12 weeks for each dose group compared with placebo are as follows: Phase 1: Percentage Change from Baseline in LDL-C Levels • 75 mg Q2W: -58.91% (-76.54%, -41.28%) • • 140 mg Q2W: -51.89% (-70.09%, -33.68%) 300 mg Q4W: -57.73% (-72.89%, -42.57%) 420 mg Q4W: -69.85% (-84.43%, -55.26%) 450 mg Q6W: -59.95% (-78.81%, -41.10%) 600 mg Q6W: -54.11% (-73.78%, -34.44%) The safety profile of IBI-306 in MAD is consistent with that in SAD Incidence of TEAE between IBI-306 and placebo group is similar. • No SAE is reported. In SAD/MAD studies, IBI-306 demonstrated good efficacy/safety profile, and the potential to be developed as long-acting PCSK9 inhibitor. LDL-C的平均相对基线变化率(%) 低密度脂蛋白胆固醇(mmol/L) 相对基线变化率(%) (线性) 40- 20- 10 -20- -40 -60- -80- 给药后4小时7 11 15 20 0. -20- -40- -60- -80- 57 相对给药时间(天) 25 mg SC 75 mg SC 75 mg IV 150 mg SC -3--300 mg SC 450 mg SC -450 mg IV 600 mg SC 安慰剂合计 Phase 2: Percentage Change from Baseline in LDL-C Levels 71 85 D1, -1H D15, -1H D29, -1H D43, -1H D57, -1H D71, -1H D85 D99 相对给药时间(天) 75 mg Q2W 420 mg Q4W 140 mg Q2W 450 mg Q6W 300 mg Q4W 600 mg Q6W 安慰剂合计 Clinical progress 2021 plan . HeFH Completed patient enrolment for Phase 3 trial for HeFH in 2020 HOFH Kept patient enrolment for pivotal Phase 2 trial during 2020 In Jan 2021, completed patient enrolment for Phase 3 in China for Non-FH Plan to have data read out for Phase 3 study of IBI-306 in HeFH in 2021 Comparison with other PCSK9 in China Imported PCSK9i Amgen, Sanofi IBI-306 Innovent Status Ph3 On market HOFH HoFH Indications HeFH Non-HF Duration Efficacy Safety Patient Size in China Q4W or Q6W 50-70% LDL-C decreased 1200 HeFH Non-FH Q2W or Q4W 50-70% LDL-C decreased Comparable with each other 300-500 Other Domestic PCSK9i Ph1/Ph2/Ph3 HoFH Mixed Dyslipidema Q2W or Q4W Not disclosed Not disclosed 600-900 Compared with other PCSK9 inhibitors, IBI-306 has long-acting potential, good efficacy comparable to imported brands, and fastest clinical progress among domestic PCSK9 in China. Innovent Confidential Copyright©2021 Innovent Biologics 223#24IBI-188 (Letaplimab): Potential Best-in-Class anti-CD47 Monoclonal Antibody IBI-188 Differentiated Advantages Optimized affinity for balanced toxicity and efficacy Stronger efficacy than hu5F9 and comparable tolerability in NHPS Pre-clinical Highlights IBI188 in Raji on NOD/SCID model Clinical Highlights Phase 1a data published on SITC 2020: Well tolerated. Completed all pre-specified seven dosage without any DLT (maximum dose 30mg/kg QW). Good safety profile. TRAE mostly grade 1-2. 15% Anemia at controllable level. Anti-tumor activity observed in 1a. IBI-188 Development Program Overview China Completed Phase 1a dosage escalation and finalizing Phase 1a, started Phase 1b for both MDS and AML in 2H 2020 Tumor volume (mm³) 1750 1500- 1250- 1000- 750- 500- 250- 0 8 11 13 16 20 23 27 30 34 Days post tumor implantation Clinical vehicle US h-IgG, 0.5 mg/kg IBI188, 0.02mg/kg IBI188, 0.1mg/kg progress IBI188, 0.5mg/kg Completed Phase 1a dosage escalation and started Phase 1b in MDS in 1H 2020 Published Phase 1a data in SITC in Nov 2020 2021 plan Plan to start Phase 3 or pivotal trial in China in MDS in 2021 Proven well tolerability and good safety in 63 pts dosed in Phase 1a. Proven efficacy in 30 pts in 1L MDS study. Global development ongoing; China to enter Phase 3 or pivotal trial for 1L MDS in 2021. Innovent Confidential Copyright©2021 Innovent Biologics 24#25IBI-322 (PD-L1/CD47): A First-in-Class Anti-PD-L1/CD47 Bispecific Antibody IBI-322 Differentiated Advantages Manageable safety profiles with reduced CD47 binding on RBC to mitigate anemia AE and decreased RBC phagocytosis due to weak CD47 blockade activity • Improved DMPK profiles with reduced peripheral CD47 mediated sink effect and Optimized biodistribution and enhanced PD-L1+ tumor uptake Pre-clinical Highlights 20 1. CD47+, PD-L1+ tumor cells were subcutaneously implanted in MC38 tumor-bearing mice with CD47 knock-in • Clinical Highlights Modified Fibonacci method was used in the dose escalation design of all studies at present for the ongoing Phase 1 trial. DLT were not observed in all dose groups Incidence and degree of anemia were low. Preliminary antitumor activity has been observed. IBI-322 Development Program Overview • China US Started patient enrolment in Phase 1a/1b in advanced malignancies in 2H 2020 Started patient enrolment in Phase 1a in advanced malignancies in Feb 2021 Plan to publish preliminary Phase 1a study for advanced malignancies at academic conference Clinical progress 2. 89Zr-labeled IBI322, anti-CD47 mAb and anti-PD-L1 mAb were administrated intravenously at 0.5mg/kg After 24h of scanning, IBI322 was found to be highly distributed in CD47+ PD-L1+ subcutaneous tumor tissues, which proved IBI322 had a strong targeting ability 2021 plan • Plan to enter Phase 1b trial in China and get preliminary PoC data CD47/PDL1 CD47" PDL1* 89Zr" 0 %ID/g 89Zr-DFO# Innovent First clinical stage PD-L1/CD47 bispecific under global development; Phase 1 trials ongoing in China and US. Preliminary promising tolerability, safety and anti-tumor activity observed. Confidential Copyright©2021 Innovent Biologics 25 25#26LAG-3 Cluster: IBI-110 (LAG-3 mAb) and IBI-323 (PD-L1/LAG-3 Bispecific Antibody) IBI-110 Clinical Highlights Promising preliminary results in Phase 1a and 1b Well tolerated. No DLT observed Good safety profile. TRAE mostly grade 1-2. Anti-tumor activity observed in both monotherapy and combo therapy in Phase 1 Plan to release data in 2021 • • IBI-323 Preclinical Highlights Dual blockade of LAG-3 and PD-L1. Blocking LAG-3 can also inhibit the negative regulatory effect of Treg's, with a stronger and longer-lasting T- cell activity potential than single target. With bridging effect as bispecific antibody, tumor cells expressing PD-L1 can be closer to T cells expressing LAG-3, thus forming a stable TCR:MHC immune synapse that further activates T cells. IBI-110 Development Program Overview IBI-323 Development Program Overview Clinical Completed patient enrolment for Phase 1a trial in 2020 Clinical • IND application approved for IBI-323 in advanced cancer in the second half of 2020. progress • Completed patient enrolment for Phase 1b trial in Jan 2021 progress Continue the development of IBI-110 in 2021 2021 plan 2021 plan • Get PoC data in 2021 Plan to start the patient enrolment of Phase 1 clinical study of IBI-323 in 2021. • Publish the Phase 1 data of IBI-110 at medical conference in 2021 Leading and highly differentiated position in LAG-3 with IBI-110 (LAG-3 mAb) moving fast to get PoC in 2021, and IBI-323 (PD-L1/LAG-3) in Phase 1 with novel biological mechanism and potential strong synergy. Innovent Confidential Copyright©2021 Innovent Biologics 26 26#27TIGIT Cluster: IBI-939 (TIGIT mAb) and IBI-321 (PD-1/TIGIT Bispecific Antibody) IBI-939 Preclinical Highlights IBI-321 Preclinical Highlights • IBI-939 is fully human antibody with high TIGIT binding affinity and strong ligand blocking activity • Combining PD-1 and TIGIT inhibition to release PD-1/PD-L1 as well as TIGIT/PVR inhibition of intratumoral T/NK cells, to enhance T/NK-cell mediated anti-tumor efficacy • IBI-939 exhibited strong anti-tumor activities as monotherapy or in combination with anti-PD-1 antibody in different tumor models IBI-939 Development Program Overview • Bridge PD-1 and TIGIT on the same cell (T cells, NK cells) to maximal activation of CD226/PVR and relieve tumor immunosuppression IBI-321 Development Program Overview • Started Phase 1a study for IBI-939 in 2020 Clinical Clinical • progress Started Phase 1b for IBI-939 in combination with sintilimab for advanced lung cancer in early 2021 progress • Plan to complete the Phase 1b study in 2021 . 2021 plan Plan to publish the preliminary Phase 1 study result of IBI-939 in 2021 2021 plan Global development plan ongoing IND application for IBI-321 accepted by NMPA in early 2021 Plan to receive IND approval for IBI-321 in 2021 Plan to start Phase 1 clinical study for IBI-321 in 2021 Leading and highly differentiated position in TIGIT area: IBI-939 as domestic leading TIGIT mAb under development, and IBI-321 (PD-1/TIGIT) heading into clinical stage with novel biological mechanism and potential strong synergy. Innovent Confidential Copyright©2021 Innovent Biologics 27#28IBI-302 (VEGF/Complement): First-in-Class Bispecific Fusion Protein Blocking VEGF/Complement Proteins IBI-302 Differentiated Advantages • High affinity blocker of VEGF family and complement proteins that simultaneously inhibit angiogenesis and inflammation pathways • • . low IBI-302 is constructed by domains of human VEGFR1/2 and CR1 on the human IgG1 backbone; Fully human sequence with immunogenicity risk IBI-302 has the potential effect in retinal fibrosis and macular atrophy Primary outcomes of Ph1b Change of BCVA-ETDRS letters 25 20' 15- = 10. 5 0 Clinical Highlights BCVA Week • • Clinical Highlights Phase 1 data published at 2020 AAO: good safety and tolerability with promising effect Improved visual acuity and reduction of retinal edema at post- injection one week BCVA increased by 8 letters on average for 4mg group at week 12 and effect lasts about 8~12 weeks after three loading injections Average central retinal thickness decreased by 134μm at week 12 IBI-302 Development Program Overview Clinical • progress • • Completed Phase 1a study for wet AMD in 1H 2020 Completed patient enrolment of Phase 1b study for wet AMD in China in 1H 2021 Presented Phase 1 study results at AAO in Nov 2020 2mg IBI302 4mg IBI302 Aflibercept 2021 plan 20 BCVA: best corrected visual acuity To start Phase 2 trial in wet AMD in 1H 2021 In 2021, plan to start Phase 1b/2 trial for the treatment of diabetic macular edema Plan to present the clinical results of the Phase 1b study in wet AMD at academic meeting in 2H 2021 Global first anti-VEGF/anti-complement bispecific molecule designed to potentially address huge unmet medical needs in AMD and other ophthalmology diseases with poor response or declining effect under current anti-VEGF treatment. Good safety and tolerability, promising effect observed in Phase 1. Innovent Confidential Copyright©2021 Innovent Biologics 28#29IBI-362 (GLP-1/GCGR): A Weekly GLP-1/GCGR Dual Agonist IBI-362 Differentiated Advantages · • Weekly injectable OXM analog via optimized ratio of activation of GLP-1 and Glucagon receptor vs. binding GLP-1 only • Dual activation of GLP-1/GCGR may bring multiple metabolic and CV benefit include: . 1) blood glucose reduction and weight loss 2) blood pressure and Lipid spectrum improvement; 3) improvement on Liver fat accumulation, inflammation and fibrosis 4) potential CV risk reduction Pre-clinical Highlights Blood Glucose (mg/dL) 300 100 Glucose after a single treatment Rx Dark Dark Dark 0 12 24 48 60 72 84 96 Time Post Injection (hr) STZ-Vehicle, N=7 LSN3305677-30nmol/kg LSN3326311-30nmol/kg Semaglutide-30nmol/kg Non-STZ-Vehicle, N=7 LSN3305677: Co-agonist LSN3326311: Q3E mutant of LSN3305677, a GLP-1 agonist LSN3119036: Semaglutide, a FA acylated GLP-1 agonist Cumulative Weight Change (%) -20 -30 -40 RX RX Clinical Highlights Promising data of IBI-362 in both weight loss and glucose control The preliminary results of IBI-362 in of IBI-362 in patients with obesity/overweight and patients in Type 2 Diabetes were very impressive, demonstrated good tolerability/safety profile and very promising efficacy on HbA1c reduction and weight loss after 12-week treatment IBI-362 Development Program Overview --11% -12% Clinical -18% -20% -32% VRX VRX VRX √/RX -50 0 3 6 9 12 15 18 Treatments Day Vehicle, N=7 3305677, 15 nmol (68 ug)/kg 3305677, 30 nmol (137 ug)/kg 3326311, 30 nmol (137 ug)/kg Semaglutide, 60 nmol (247 ug)/kg GLP-PEG40K, 22.5 nmol (995 ug)/kg LSN3305677: Co-agonist LSN3326311: Q3E mutant of LSN3305677, a GLP-1 agonist progress 2021 plan Completed patient enrolment of Phase 1b trial in China in overweight or obese subjects in 2020 Completed patient enrolment of Phase 1b trial in China in diabetic patients in Jan 2021 In Jun 2021, plan to present Phase 1b study data in obesity at the annual meeting of American Diabetes Association Around the end of 2021, plan to present Phase 1b study in diabetic patients at academic meetings In 2021, plan to start Phase 2 trial in obesity subjects In 2021, plan to start Phase 2 trial in diabetic patients First-in-class OXM3 in China in face of 130m diabetics patients with the potential to bring additional benefit over glucose control incl. weight losses and other metabolic improvements. Increasing obesity groups with no prescription drugs in China. IBI-362 has demonstrated strong weight deduction effect in the Phase 1b trial. Innovent Confidential Copyright©2021 Innovent Biologics 29 29#30Section 3 Core Strategy Innovent 信达生物制药#31Innovation and Globalization are Our Key Strategies Innovation Develop potentially global first-in- class products + Globalization Develop and sell Innovent products globally Innovent 信达生物制药 A premier global biopharmaceutical company Build on robust pipeline ● Focus on unmet patients' needs Global leading R&D capabilities and cutting-edge technologies ● Collaboration with leading global biopharmaceutical companies Expand Innovent's in-house R&D and commercial arms globally ● Expand manufacturing capacity globally By 2030, more commercialized products, including first-in-class products launched globally Innovent Confidential Copyright©2021 Innovent Biologics 31#32Global R&D Platform Led by Dr. Yong Jun Liu, A World-class, Accomplished Executive San Francisco, US Innovent Academy (n=200+) Innovent R&D (n=1,000+) Led by Dr. Yong Jun Liu 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 US Lab (Maryland) London, UK Product Development (n=800+) Portfolio Management and Project management (n=20) BD (n= 18) China IP (n= 30) Fully integrated R&D Platform with 1,000+ expertise and advanced facilities aiming for global innovation. Innovent Confidential Copyright©2021 Innovent Biologics 32#33Innovent Academy and Key Drug Discovery Strategies Monoclonal antibodies Innovent Academy ● Objective: To develop and launch First-in-Class product globally as Innovent's powerful discovery engine • Key Therapeutic Focus: Oncology, metabolic diseases, immunology, and ophthalmology • Position: Global leading drug discovery platform for both scientific research and technology application • Structure: Immunology, Protein Antibody Engineering, Pharmacology, Translational Medicine and Cell Therapy Biology-driven, Technology-enabling (50+ drug discovery projects ongoing in Innovent Academy) Non-Oncology: Autoimmunity, Metabolic diseases, Ophthalmology Oncology: Immunotherapy and Targeted therapy Multi-specific antibodies ADC Cell Therapy Autoimmunity My fe Innovent Confidential Copyright©2021 Innovent Biologics Oge สว Metabolic diseases FATTY LIVER Ophthalmology Clary muse Celicne 33#34Innovation and Globalization are Our Key Strategies . Expand in global markets FDA IND approvals for 7 pipelines 6 assets under global development • Development/registration collaborations with leading global pharmaceutical companies Accelerate the expansion of US and Europe subsidiary Accelerate global development of pipeline portfolio Anticipate BLA filing with the U.S. FDA for TYVYTⓇ in NSCLC in 2021: 2020.08: ex-China rights out licensed to Lilly; total deal value >US$1Bn Maximized potential for a global TYVYTⓇ collaboration with Lilly; develop global brand to support future commercial efforts of the Company 2021: Anticipate BLA acceptance by the U.S. FDA for TYVYTⓇ in NSCLC. IBI-305 (bevacizumab injection): PT Etana to file NDA in Indonesia in 2021; Out licensed north America rights to Coherus IBI-188 (CD47): Phase 1b ongoing in China and US IBI-322 (PD-L1/CD47): Phase 1 ongoing in both China and US IBI-939 (TIGIT): IND approved by US FDA, global development plan IBI-110 (LAG-3): IND approved by US FDA, global development plan THE UNIVERSITY OF TEXAS MD Anderson Coherus Cancer Center BIOSCIENCES Making Cancer History" Lilly etana Biotech Innovent Leverage the advantages of China clinical development to accelerate pipeline's global development and registration. Innovent Expand overseas talent team as to fit the increasing global operation needs. Confidential Copyright©2021 Innovent Biologics 34#35Section 4 Financial Overview Innovent 信达生物制药#36Income Statement Year Ended 31 December (1,294.7) Revenue In 2020, we generated total revenue of RMB3,843.8 million, including RMB2,367.5 million driven by product sales; coupled with RMB1,476.3 million from License fee and service income Expenses R&D investments were spending on progressing clinical trials of late-stage and prioritized assets towards our robust pipeline globally 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) and HALPRYZAⓇ(rituximab biosimilar) IFRS loss for the year IFRS loss for the year was RMB998.4 million Non-IFRS loss for the year Adjustments to IFRS measure was driven by non-cash item namely share-based compensation expenses RMB'million Revenue Cost of sales Gross profit (IFRS Measure) Other income Research and development expenses Administrative and other expenses 2020 2019 3,843.8 1,047.5 (387.8) (124.9) 3,456.0 922.6 246.8 144.1 (1,851.5) (436.9) (255.3) Selling and marketing expenses (1,340.9) (692.5) Royalties and other related payments (384.1) (499.7) Other gains and losses (480.0) 15.2 Finance costs (68.4) (59.5) Income tax expense (139.7) Loss for the year (IFRS Measure) (998.4) (1,719.9) Adjustments to Non-IFRS measure 402.5 148.1 (595.9) (1,571.8) Loss for the year (Non-IFRS Measure) Note: Numbers may not add due to rounding Innovent Confidential Copyright©2021 Innovent Biologics 36#37Balance Sheet RMB'million Bank balances and cash 2020 17,763.8 1357.3 Year Ended 31 December 2019 4,232.6 462.5 Other financial assets-current Trade receivables 475.4 247.9 Contract assets 2.2 Deposits, prepayments and other receivables 164.5 151.6 Inventories 705.7 358.6 Total Current Assets 9,466.7 Property, plant and equipment 1,584.1 Right-of-Use assets 327.1 Intangible assets 32.6 - 5,455.4 1,344.8 91.5 Cash balance As of December 31, 2020, our total cash increased to RMB8, 121.1 million (equivalent to US$1.2 billion) As of February 28, 2021, our total cash was approximately US$1.8 billion. Deposits for acquisition of property, plant and equipment 272.3 84.8 Other receivables and tax recoverables 139.3 252.0 Other financial assets 12.9 2.0 Total Non-current Assets 2,368.3 1,775.1 Total Assets 11,835.0 7,230.5 Trade payables (120.6) (84.3) Other payables and accrued expenses (973.7) (885.0) Contract liabilities (120.4) (41.7) Borrowings (255.0) (17.0) Lease liabilities (16.2) (15.6) Total Current Liabilities (1,485.9) (1,043.6) Contract liabilities (588.1) (581.8) Borrowings-non Government grants Lease liabilities Total Non-current Liabilities Total Liabilities Total Equity Innovent (45.8) (16.5) (925.2) (808.0) (10.2) (24.5) (1,569.3) (1,430.8) (3,055.2) (2,474.4) 8,779.8 4,756.1 Note: Numbers may not add due to rounding Confidential Copyright©2021 Innovent Biologics 37 36#38Continuously Strong Support from Globally Renowned Investors Total fundraising since inception: US$ 2.6bn+ The largest IPO fund raise at the time for pre-revenue biopharmaceutical company Strong support from globally renowned investors from pre- IPO to post-IPO Pre-IPO Fund Raising Total follow-on offering: ~US$ 1.6bn The first and only HK biotech 18A with successful 4 rounds follow-on Industry Leader Receives More Attention and Focus by Capital Markets US$ 562m Lilly Asia Ventures Fidelity 礼来亚洲基金 TEMASEK HOLDINGS CAPITAL GROUP SDIC 国投创新 HILLHOUSE CAPITAL GIC ROCK SPRINGS IPO Total Proceeds CORMORANT ASSET MANAGEMENT CAPITAL |理成 LEGEND 資産 CAPITAL Ally Bridge Group 君联资本 Greenwoods 景林 F Fidelity INTERNATIONAL WELLINGTON MANAGEMENT SEQUOIA UBS Global Asset Management LAKE BLEU CAPITAL Innovent Continued interests and confidence of global investors PRIME CAPITAL OppenheimerFunds BlackRockⓇ US$ 485m Track record in value delivering Capability to exceed market expectations Value Partners Invesco Investing through discipline Follow-on Offerings 13 中国平安 US$ 1.6bn 中国人寿 PING AN CHINA LIFE 清池资本 Confidential Copyright©2021 Innovent Biologics Removed "B" marker and was included in the Hang Seng Composite index and included in the Stock Connect 38 88#39Section 5 Outlook Innovent 信达生物制药#40Key Takeaways Discovery CMC (Manufacturing & Quality) Clinical Development Innovent 信达生物制药 Commercialization 用目 Growing into a global biopharmaceutical company with fully-integrated capabilities (discovery, development, manufacturing, commercialization) and clear strategy of global innovation Robust pipeline of 23 diverse-staged assets (4 commercialized, 5 in pivotal trials, 14 at clinical stage) Driving upside potentials of prioritized early-stage assets with global rights (CD47 cluster, LAG-3 cluster, TIGIT cluster, OXM31, VEGF/c-protein) Building world-class R&D platform in global territory, Innovent Academy as a powerful discovery engine focusing on novel targets and cutting- edge technologies Committed to develop truly innovative products (potentially global First-in-Class and Best-in-class blockbuster drugs) Partner-of-choice for comprehensive global collaborations (in-license, out-license, assets, technology platform) Leverage the advantages of China clinical development to accelerate pipeline's global development and registration Note: 1: We own rights of OXM3 in Greater China. Innovent Confidential Copyright©2021 Innovent Biologics 40 40#41Summary: A Long Term Vision 2020 • 4 commercialized • products ⚫ More products at late stage development • Increased GMP . manufacturing capacity Establish Innovent Academy 02 2025 • Expanded commercialized products in China • Multiple products approved in the international markets • Global commercial supply 03 33 2030 • More commercialized products, including first- in-class products launched globally To be a premier global biopharmaceutical company 01 Innovent Confidential Copyright©2021 Innovent Biologics VISION 15 41#42始于信 达于行 Start with Integrity Succeed through Action Innovent Confidential Copyright©2021 Innovent Biologics 42 22