#1Innovent Investor Presentation August 2021 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. 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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. 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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#5Innovent: Transforming From a China Leading Biopharmaceutical Company to a Global Premier Player Fully Integrated Biopharmaceutical Platform World-class discovery, development, manufacturing and commercialization capabilities Expected 60,000L¹ production capacity by end of 2021, one of the largest in China Strong commercialization capability with a commercial team of ~2,000 people Comprehensive Global Collaboration Continued collaborations with global pharmaceutical and biotech companies Established an integrated platform with validated capabilities, striving to be the best choice for our partners XIX Innovent Note: 1) 24,000L current production capacity with additional 36,000L to be completed by 2021 Innovent 达伯舒 达攸同 苏立信 达伯华 ® 達伯坦 阿达木单抗注射液 利妥昔单抗注射液 Pemazyre (tablets) Confidential Copyright©2021 Innovent Biologics Robust Pipeline in Both Oncology and Non-oncology • Robust pipeline across novel therapeutics in both oncology and non- oncology • 5 commercialized, 1 NDA under NMPA review, 5 in pivotal trials and 14 in clinical stage Global R&D Organization and Footprint 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 products • First BLA of sintilimab accepted by FDA for large cancer indication, exploring global market potentials 5#6World-class Fully Integrated Biopharmaceutical Platform to Address Unmet Medical Needs with Innovative Therapies Robust Pipeline Across Novel Therapeutics Discovery Deep understanding in immunology and unique strength in antibody engineering CMC (Manufacturing & Quality) In-house manufacturing with large capacity Oncology 10 backbone and high potential targets: PD-1, CTLA-4, CD47, LAG- 3, TIGIT, etc. Leading technology: cell therapy, multi-specific antibody, ADC Fully Integrated Biopharmaceutical Platform Clinical Development Robust pipeline in different clinical stages Strong execution capability Non-oncology Highly competitive and promising franchise in autoimmune, metabolic and ophthalmology • Commercialization Extensive network covering 4,700 hospitals and 1,000 DTP/Pharmacies ~2,000 sales & marketing team Innovent Target on Unmet Medical Needs Number of new cancer cases in 2020 (Global) % 11.7% 11.4% 10.0% 7.3% 5.6% Number of new cancer cases in 2020 (China) 17.9% 12.2% 10.5% 9.1% 9.0% # 2,261,419 2,206,771 815,563 1,931,590 1,414,259 555,477 1,089,103 478,508 416,371 410,038 Lung Colorectum Stomach Breast Humira Keytruda Revlimid Eliquis Imbruvica Confidential Copyright©2021 Innovent Biologics Source: WHO IARC 2020 report; Fierce Pharma, Evaluate Pharma Autoimmune Opdivo Eylea Stelara US$bn 20 Biktarvy 14 12 9 Xarelto Breast Lung Colorectum Prostate Stomach Top 20 Drug Sales in 2020 (Global) 8 8 8 8 7 7 6 6 5 5 55 5 4 Enbrel Prevnar 13 Ophthalmology Avastin Ibrance Trulicity Ocrevus Rituxan Metabolic Tagrisso Standi CO 4 Remicade Liver#7Strong Commercialization to Enhance Leadership in China PD-1 Market and to Capture Huge Potentials in Global Market Robust Product Revenue Growth¹ RMB mn 2,500 RMB 2,368mn 2,000 1,500 Y-o-Y -Y growth: 133.0% Y-o-Y growth: 101.4% RMB 1,855mn First-mover Advantage Comprehensive Development Strategy Maintain strong leadership position in China market RMB 1,016mn • RMB 921mn Strong revenue growth and leading market share 1,000 500 NMPA approval in Dec 2018 Out-license Partnership with Eli Lilly Backbone role for oncology TA Best positioned to explore huge potential in global markets • • First PD-1 included in NRDL in 2019 New indication approvals on • • Extensive network and experienced marketing and sales team (~2,000 ppl) . Manufacturing capacity: 24,000L in operation and additional 36,000L in construction • • • large cancers: 1L nsq NSCLC (approved in Feb 2021), 1L sq NSCLC and 1L HCC (approved in June 2021), 2L sq NSCLC 1L ESCC and 1L GC met primary endpoints TYVYT as one of a few PD-1 inhibitors that has shown to be efficacious in the 1L treatment of five major types of cancer Combo/bispecific with internal • First marketed China PD-1 out-licensed to global MNC pharmaceutical company 2021 May: BLA for sintilimab for 1L nsqNSCLC accepted by the U.S. FDA in May 2021 • Global PD-1 market size and valuation multiple times larger than that in China market H 2018 2019 2020 2020 1H 2021 1H pipeline (CTLA-4, TIGIT, FGFR, LAG-3, VEGF, etc.) 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. Note:1) Product revenue included all approved products' sales revenue Innovent Confidential Copyright©2021 Innovent Biologics 7#8Robust Pipeline in Both Oncology and Non-oncology with 25 Valuable Assets Across Diversified Clinical Stages • • • . TYVYTⓇ (sintilimab injection) BYVASDAⓇ (bevacizumab injection) SULINNOⓇ (adalimumab injection) HALPRYZAⓇ (rituximab injection) PemazyreⓇ (pemigatinib) 1 IBI-348 (BCR-ABL/KIT), NDA accepted by NMPA in 1H 2020 for treatment of drug- resistant CML Co-commercialization with Ascentage Pharma in China • 亞盛醫藥 Ascentage Pharma IBI-376 (PI3KS) r/r FL, pivotal Phase 2 ongoing • IBI-306 (PCSK9) • HeFH, met Phase 3 primary endpoints IBI-310 (CTLA-4) Combo with TYVYT in pivotal trials for multiple indications including HCC, ovarian cancer and melanoma IBI-326 (BCMA CAR-T) r/r MM, pivotal Phase 2 ongoing IBI-344 (ROS1/NTRK) NSCLC, pivotal Phase 2 ongoing • High potential IO targets: CD47 (IBI-188, IBI-322) LAG-3 (IBI-110, IBI-323) TIGIT (IBI-939, IBI-321) Bispecific candidates: IBI-319 (PD-1/CD137) IBI-315 (PD-1/Her2) Non-oncology candidates: IBI-362 (OXM3) - IBI-302 (VEGF/C-protein) IBI-112 (IL-23 p19) 5 assets approved 1 NDA under TITT NMPA review இ 5 assets at late stage Oncology:20 assets spanning in mAb, bispecific antibody, cell therapy, and small molecule ur TS 14 assets at Phase 1 or 2 Non-oncology: 5 assets spanning in autoimmune, ophthalmology, 4.8 ER NOTHERAPY Note: 1) Pemigatinib (IBI-375) has been approved in Taiwan market in June 2021, NDA submission accepted by NMPA in Jul 2021 Innovent Confidential Copyright©2021 Innovent Biologics metabolic 8#9Global R&D Structure with Expanding Footprint Innovent R&D Led by Dr. Yongjun Liu President, Innovent 1,000+ R&D employees 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 Innovent Academy Product Development BD 200+ employees Discovery engine for global FIC/BIC products 800+ employees China & global dual clinical development 20+ employees Partnership with regional and global players Innovent Portfolio Management and Project management 20+ employees Suzhou R&D center, China Shanghai R&D center, China Maryland wet lab, US Innovent Confidential Copyright©2021 Innovent Biologics 9#10Comprehensive Global Collaboration with Regional and Global Leading Players as Their Partner-of-Choice Collaborations with global player: Continued collaborations with global pharmaceutical and biotech companies Total deal value exceeds US$2.5bn¹ Including upfront payment of US$256m¹ Lilly ADC: co-development, in-licensed technology Synaffix connect to cure Access to Roche's bispecific antibody and Universal CART technologies Out-license ex-China global rights of up to US$ 2.1bn payments and royalties Roche Biosimilar: out-licensed Indonesia development and commercialization rights etana Biotech 3 small molecules: in-licensed Greater China rights Incyte Biosimilar: out-licensed North America development and commercialization rights Coherus BIOSCIENCES 1 pre-clinical asset: in-licensed Greater China rights ALECTOR Hanmi THE UNIVERSITY OF TEXAS MD Anderson Cancer Center Adimab Making Cancer History" loodle Hutchison Medi Pharma 00000 Collaborations with regional player: As integrated platform with validated capabilities, striving to be the best choice for partner Note: 1. Total deal value exceeds US$245m Collaborations on commercialization, Next generation TKI: co-development and commercialization rights in China BCMA CAR-T: 50:50 ownership of the asset clinical development, equity investment ค 亞盛醫藥 Ascentage Pharma Including both 2015 and 2020 strategic deals with Eli Lilly, not including royalties AnHeart Therapeutics EpimAb Biotherapeutics sirna⚫mics Advancing RNAI Therapeutics 微芯生物 CHIPSCREEN ...... Innovent Confidential Copyright©2021 Innovent Biologics 110 10#11State-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 capacity) received cGMP certification from the NMPA, providing competitive advantage on the production cost of our 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 11 Innovent#12Executives with a Proven Track Record of Success Dr. Michael Yu 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 Visionary Founder, CEO and Chairman Supported by Experienced Management Team 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 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#13Anticipated Achieved . Achieved and Anticipated Milestones from 2021 to Early 2022 6 6 9 8 Multiple Capacity Multiple Commercial portfolio TYVYTⓇ BYVASDAⓇ SULINNOⓇ HALPRYZAⓇ Pemazyre® (Taiwan market) Potential NDA approvals TYVYTⓇ 1L nsqNSCLC Potential NDA acceptance TYVYTⓇ 1L nsqNSCLC, US BLA IBI-375 (FGFR) 1L sq NSCLC 1L HCC BYVASDAⓇ 1L HCC 2L MCCA, mainland China IBI-375 (FGFR) 2L mCCA, Hong Kong BYVASDAⓇ Indonesia NDA Pivotal trial data release / readout TYVYTⓇ 2L sqNSCLC 1L ESCC (met endpoint) 1L GC (met endpoint) IBI-306 (PCSK9) HeFH (met endpoint) Other clinical data readout Capacity expansion IBI-362 (OXM3) Obesity IBI-110 (LAG-3) Phase 1 dosage escalation TYVYTⓇ BYVASDAⓇ SULINNOⓇ • HALPRYZA® • Pemazyre® (Taiwan market) . IBI-348 (BCR-ABL/KIT) TYVYTⓇ 2L sq NSCLC IBI-348 (BCR-ABL/KIT) Drug-resistant and T3151-mutation CML Prioritized clinical assets Phase 3 or pivotal phase 2 - IBI-310 (CTLA-4) IBI-306 (PCSK9) IBI-375 (FGFR) - IBI-376 (PI3KS) IBI-344 (ROS1/NTRK) - IBI-326 (BCMA CAR-T) Phase 2/ Phase 1b - IBI-188 (CD47) IBI-110 (LAG-3) TYVYTⓇ TYVYTⓇ IBI-362 (OXM3) Complete construction of 36,000L production lines - IBI-362 (OXM3) - 1L ESCC 2L EGFR+ NSCLC Diabetes IBI-302 (VEGF/compliment) - 1L GC • IBI-375 (FGFR) • IBI-310 (CTLA-4) 2L EGFR+NSCLC 2L MCCA • IBI-376 (PI3K8) IBI-315 (PD-1/Her2) Increase total production capacity from 24,000L to 60,000L Phase 1 ongoing IBI-322 (PD-L1/CD47) IBI-376 (PI3K8) - IBI-939 (TIGIT) r/r FL - r/r FL IBI-326 (BCMA CAR-T) • IBI-344 (ROS1/NTRK) IBI-302 (VEGF/compliment) IBI-188 (CD-47) IBI323 (LAG-3/PD-L1) - IBI321 (TIGIT/PD-1) - r/r MM NSCLC IBI319 (PD-1/4-1BB) IBI-315 (PD-1/Her2) By end of 2021 to early 2022, we expect to have six commercial products and diverse clinical stage assets that drive long-term Innovent upside potentials. Confidential Copyright©2021 Innovent Biologics 13#14Section 2 - Part 1 Pipeline Review Innovent#15Robust Pipeline Across Novel Therapeutics - Oncology 4 commercialized, 1 in NDA, 4 in pivotal trials and 11 assets in clinical stage Status Products Target (s) Modality 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 Monoclonal antibody Oncology Worldwide BYVASDAⓇ (bevacizumab injection) VEGF-A Monoclonal antibody Oncology Lilly HALPRYZA® (rituximab injection) CD20 Monoclonal antibody Oncology Worldwide Worldwide Incyte) IBI-375 (Pemigatinib) FGFR1/2/3 Small molecule Oncology Mainland China, HK, Taiwan, Macau 2L MCCA (Approved in Taiwan, NDA accepted in mainland China and HK); 1L CCA (joined Incyte's global Phase 3 trial) Drug-resistant chronic myeloid leukemia (CML), NDA accepted in China IBI-348 (Olverembatinib) BCR-ABL/KIT Small molecule Oncology Mainland China, HK, Taiwan, Macau GIST Ph + ALL IBI-310 CTLA-4 Monoclonal antibody Oncology Worldwide Incyte IBI-376 (Parsaclisib) РІЗКО Small molecule Oncology Mainland China, HK, Taiwan, Macau IBI-326 BCMA CAR-T Cell therapy Oncology Worldwide AnHeart Therapeutics IBI-344 (Taletrectinib) ROS1/NTRK Small molecule Oncology Mainland China, HK, Taiwan, Macau Adjuvant melanoma 2L Cervical cancer 11 HCC Lr/r FL and MZL (China). Myelofibrosis (Incyte's global Phase 3) r/r multiple myeloma ↑ ROS1+ NSCLC (1L+2L). NTRK+ Solid tumors MDS (China) MDS (US) r/r AML (China) Phase 1b and Phase 2 for multiple cancer types in plan Advanced malignancies (China) Advanced malignancies (US Phase 1b for multiple cancer types IBI-188 CD47 Monoclonal antibody Oncology Worldwide IBI-110 LAG-3 Monoclonal antibody Oncology Worldwide IBI-322 PD-L1/CD47 Bispecific antibody Oncology Worldwide Lilly IBI-318 PD-1/PD-L1 Bispecific antibody Oncology Mainland China, HK, Macau Hanmi IBI-315 PD-1/HER2 Bispecific antibody Oncology Worldwide IBI-939 TIGIT Monoclonal antibody Oncology Worldwide IND approved (US) Lilly IBI-321 PD-1/TIGIT Bispecific antibody Oncology Mainland China, HK, Macau Lilly IBI-319 PD-1/4-1BB Bispecific antibody Oncology Mainland China, HK, Macau IBI-323 LAG-3/PD-L1 Bispecific antibody Oncology Worldwide IBI-102 GITR Monoclonal antibody Oncology IBI-101 OX40 Monoclonal antibody Oncology Worldwide Worldwide Listed drugs Biologics Small molecules Clinical progress in the U.S. Robust oncology pipeline with 20 clinical stage assets, covering monoclonal antibodies, bispecific antibodies, CAR-T and small Innovent molecules Confidential Copyright©2021 Innovent Biologics 15#16Robust Pipeline Across Novel Therapeutics - Non-oncology Pipeline 1 commercialized assets, 1 assets in pivotal trials and 3 assets in clinical stage Lilly Products Target (s) Modality Status Therapeutic Area Commercial Rights Pre-clinical IND Approved Phase 1 Phase 2 Pivotal Phase 2/ Phase 3 NDA Launched SULINNOⓇ (adalimumab injection) TNF-alpha Monoclonal antibody Autoimmune Worldwide HoFH (Pivotal phase 2 ongoing) IBI-306 PCSK9 Monoclonal antibody Metabolic Mainland China, HK, Taiwan, Macau HeFH (Phase 3 met primary endpoint) nFH (Phase 3 ongoing) Obesity IBI-362 GLP1/GCGR (OXM3) polypeptide Metabolic Mainland China, HK, Taiwan, Macau Diabetics WAMD (Phase 2 onging) IBI-302 VEGF/Complement Fusion protein Ophthalmology Worldwide DME (to start Phase 2) Monoclonal antibody IBI-112 IL-23 p19 Autoimmune Worldwide Inflammatory enteritis and other autoimmune diseas Psoriasis (to start Phase 2) Listed drugs Biologics Small molecules Differentiated non-oncology pipeline represents long-term growth potential in major therapeutic areas including autoimmune, metabolic, and ophthalmology Innovent Confidential Copyright©2021 Innovent Biologics 16#17Innovent Section 2 - Part 2 Overview of Selected Pipeline - Oncology#18Sintilimab: Clinical Development Programs 4 indications approved, 1 sNDA under review in China, BLA accepted in US INDICATION China r/r Classical Hodgkin's Lymphoma 1L Non-squamous NSCLC 1L Squamous NSCLC 1L Hepatocellular Carcinoma 2L Squamous NSCLC 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-THERAPY (OTHER COMPONENTS) Mono Combo (pemetrexed and cisplatin) Combo (gemcitabine and platinum) Combo (IBI-305/biosimilar to bevacizumab) Mono 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 Combo (capecitabine and oxaliplatin) Mono Mono Combo (gemcitabine and cisplatin) 1L Squamous NSCLC 1L/2L Neuroendocrine Tumor Solid Tumors/colorectal cancer Solid Tumors/cholangiocarcinoma 3L colorectal cancer 2L Hepatocellular Carcinoma U.S. 1L Non-squamous NSCLC 1L Esophageal Carcinoma (MRCT) Solid Tumors Combo (EP/IP) Combo (Fruquintinib) Combo (Surufatinib) Combo (Chidamide) Combo (siRNA) Combo (pemetrexed and cisplatin) Combo (paclitaxel and cisplatin/5-FU and cisplatin) STATUS 1A 1B PHASE 2 PHASE 3 NDA FILED NDA APPROVED Mono Late Stage Endometrial Carcinoma Mono Symbols: = completed; = completed patient enrollment; ①= in progress; = to be initiated within next quarter.#19Sintilimab: the Only PD-1 inhibitor Proven to be Efficacious in the First-line Treatment of Five Major Types of Cancer 1 1L Nonsquamous NSCLC 2 1L Squamous NSCLC 3 1L HCC 4 1L ESCC 5 1L GC One of the few PD-1s approved for two 1L indications of NSCLC ORIENT-11 Study 2020.01: met primary endpoint 2021.02: SNDA approved in China 2021.05: US BLA accepted primarily based on ORIENT-11 data ORIENT-12 Study 2020.05: met primary endpoint 2021.06: SNDA approved in China Worldwide first PD-1 based combination therapy succeeded in 1L HCC ORIENT-32 Study 2020.09: met primary endpoint of OS 2021.06: SNDA approved in China First China-originated PD-1 succeeded in a global Phase 3 for 1L ESCC ORIENT-15 Study Global MRCT Phase 3 study 2021.06: met primary endpoint of OS regardless of PD-L1 expression ESMO 2021: Results to Release By end 2021: Plan to file sNDA to the NMPA Worldwide one of the only two PD-1s succeeded 1L GC ORIENT-16 Study 2021.08: met primary endpoint of OS in both ITT group and PD-L1 positive group ESMO 2021: Results to Release By end 2021: Plan to file sNDA to the NMPA Sintilimab is the only PD-1 inhibitor proven to be efficacious in the first-line treatment of five major types of cancer, which account for about 2.0m new cancer cases in China or 4.8m globally each year. Innovent Confidential Copyright©2021 Innovent Biologics 19#20ORIENT-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 1 0.75 OS Sint+Chemo PL+Chemo # 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 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% Number at Risk T T T 0 2 4 6 8 10 12 14 16 Months 266 262 248 206 134 72 18 3 0 Sint+Chemo PL+Chemo 131 128 113 92 Innovent 52 61 33 8 1 0 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 20 20#21ORIENT-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 21 24#22Pemazyre® (Pemigatinib, IBI-375) Development Plan Overview Commercial Stage FGFR1/2/3 Inhibitor with Best-in-class Profile Enzyme Inhibitory Activity of IBI-375 (FGFR1/2/3) 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 PemazyreⓇ (pemigatinib) Development Program Overview Clinical 130 Cellular potency 200 0.1 progress UNK 650 1.3 2L mCCA (cholangiocarcinoma) Approved in Taiwan market for 2L mCCA in 2021.06 NDA for 2L MCCA in mainland China accepted by the NMPA in 2021.07 NDA for 2L MCCA in Hong Kong market accepted by the Drug Office of HK DOH in 2021.07 . 1L MCCA 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 Joined Incyte-sponsored global Phase 3 trial (FIGHT-302) for IBI- 375 for 1L mCCA To release phase 2 data of 2L mCCA at ESMO 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- OS Median OS (95% CI), mo Cohort A Cohort B -Cohort C 2L MCCA 21.1 (14.8-NE) 6.7 (2.1-10.6) 4.0 (2.3-6.5) 2021 plan 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. Innovent Pemigatinib exhibits a best-in-class profile with excellent potency for FGFR 1, 2, and 3. Approved in Taiwan market, NDA accepted in mainland China and Hong Kong. Confidential Copyright©2021 Innovent Biologics 22 22#23IBI-348 (Olverembatinib, BCR-ABL) Development Plan Overview About-to-launch Third-generation BCR-ABL TKI at NDA Stage IBI-348 (Olverembatinib) Differentiated Advantages IBI-348 is an oral third-generation BCR-ABL1 inhibitor designed for treatment of the patients with CML that is refractory to or intolerant of tyrosine kinase inhibitors (TKIs). IBI-348 is effective against a broad spectrum of BCR-ABL1 mutations, including T3151, which confers resistance against all first- and second- generation TKIS. • • • Clinical Highlights IBI-348 shown highly and durably efficacious in heavily TKI-pretreated patients with T3151-mutated CML-CP or CML-AP. The probability and depth of clinical response may increase with prolonged treatment period. IBI-348 was well tolerated. Clinical Highlights Figure 1. Overview of efficacy in patients with CML-CP (Study CC201) and CML-AP (Study CC202) • 100- CC201 CC202 Patients(%) 80- 60- 40- 20- In CC201, as of the study cut-off date of March 23, 2020, total 41 patients were enrolled, across a median follow-up of 7.9 months, the mean 3-month PFS was 100% and 6-month PFS 96.7%. In CC202, as of the cut-off date of February 11, 2020, total 23 patients were enrolled, across a median follow-up of 8.2 months, the 3-month PFS was 100% and the 6-month PFS 95.5%. Clinical progress IBI-348 Development Program Overview Entered into multifaceted collaboration with Ascentage Pharma, including to co-develop and co-commercialize IBI-348 (Olverembatinib) in Greater China CML: NDA of IBI-348 (Olverembatinib) was accepted by the China NMPA in 2020.10 with priority review, for TKI-resistant and T3151+ chronic phase CML and accelerated phase CML 0 CHR MCYR CCYR MMR • Most adverse events were grade 1-2. N for CC201 31 41 N for CC202 23 23 41 23 41 23 Blood (2020) 136 (Supplement 1): 50-51. https://doi.org/10.1182/blood-2020-142142 Novel BCR-ABL1 Tyrosine Kinase Inhibitor (TKI) HQP1351 (Olverembatinib) Is Efficacious and Well Tolerated in Patients with T3151-Mutated Chronic Myeloid Leukemia (CML): Results of Pivotal (Phase II) Trials. 2021 plan CML: Anticipate to receive NDA approval of IBI-348 (Olverembatinib) by end 2021 About-to-launch first China-developed third-generation BCR-ABL TKI to address the clear unmet medical needs in CML patient population evolved with drug-resistance or intolerance to front line TKIs. Innovent Confidential Copyright©2021 Innovent Biologics 23 23#24IBI-376 (PI3K8) Development Plan Overview Potential Best-in-class PI3KS Near NDA Stage 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 501 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 Efficacy Evaluable All Patients Daily Group (86 Responders) (71 Responders) Median DOR (95% CI), months 15.9 (12.0-NE) 14.7 (12.0-17.5) IBI-376 (parsaclisib) Development Program Overview Clinical Preliminary ORR by IRC Overall ORR: 73% (95% CI: 64-81) Efficacy Evaluable All Treated Patients (N=118)* 2% 3% DG ORR: 75% (95% CI: 65-83) progress Efficacy Evaluable DG (N=95)* 2% 2% 6% 14% CR 17% SD CR 14% CR PR 15% SD SD PD 59% PR NE NA 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 All Patients (N=118) Median PFS (95% CI), months 15.8 (13.2-19.3) Efficacy Evaluable Daily Group (N=95) 15.8 (13.8-19.1) 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) r/r FL and MZL Have completed enrolment of pivotal Phase 2 trial for IBI-376 for r/r FL in China 2021 plan • r/r FL and MZL Plan to submit NDA to NMPA for IBI-376 for r/r FL between late 2021 to early 2022 Myselofibrosis - Plan to start patient enrolment of IBI-376 in China for Incyte- sponsored Phase 3 trial for 2L myelofibrosis by 2021 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) All Treated Patients (N = 100) Daily Group (N = 72) Median DOR (95% CI), months 12.0 (9.3-NE) NR (8.1-NE) Median PFS (95% CI), months 19.4 (13.7-NE) 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) NA Therapeutics 25% (40) 58.7% (104) 64% (11) 69.6 % IBI-376 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. Plan to file NDA in China in end 2021 to early 2022. Innovent Confidential Copyright©2021 Innovent Biologics 24#25IBI-326 (BCMA CAR-T) Development Plan Overview BCMA CAR-T with Best-in-class Profile Near NDA Stage in China • IBI-326 Differentiated Advantages Improved efficacy likely due to the lower binding affinity of BCMA CAR (facilitate serial triggering of CAR-T cell) and long-term persistence of CAR-T cells Improved persistence likely due to the humanized BCMA CAR (reduced CAR- directed immune clearance) • O ICANS IBI-326 Clinical Highlights Dose (x10 cells/kg) 01-001 01-002 1.0 1.0 01-004 1.0 01-005 3.0 * 01-007 3.0 70.6% G1-2 CRS 01-009 3.0 01-010 6.0 01-011 01-012 6.0 6.0 H 01-013 01-015 3.0 01-016 01-019 3.0 1.0 01-020 1.0 01-021 1.0 ** 01-022 1.0 01-023 1.0 01-024 1.0 Patient number Response SCR CR VGPR PR MR Stable disease PD NA Death H • Highly effective in pts with prior murine BCMA CAR-T failure • Improved safety likely due to the lower peak concentration CAR-T cells MRD *Negative * Positive 0 100 200 300 400 500 600 700 (Blood, 2021, 137: 2890-2901) Days Postinfusion IBI-326 Clinical Highlights In a phase 1 study of IBI-326 in 18 r/r MM: IBI-326 Development Program Overview r/r MM: Have been enrolling patients for the ongoing pivotal phase study of IBI-326 for r/r MM Received breakthrough therapy designation from NMPA Phase 1 study data published in Blood r/r MM: 2021 plan Plan to file rolling NDA submission of IBI-326 to the NMPA for r//r MM in end-2021 to early 2022. Clinical 100% ORR with 72% CR/SCR progress • 1 year PFS rate 58% (while in the first 2 BCMA CAR trials, bb2121 and LCAR- B38M/JNJ-4528, mPFS <1 year.) • CAR-T cell median persistence: 308d (while in the bb2121 and LCAR-B38M/JNJ- 4528, persistence <6mth) • 3/4 SCR and 4 VGPR in 4 murine BCMA CAR T-exposed pts (Blood, 2021, 137: 2890-2901). Near-NDA stage BCMA CAR-T leading development progress in China; best in class potential with impressive preliminary phase 1/2 data with rapid onset of action and long-lasting efficacy, as well as favorable safety profile. Innovent Confidential Copyright©2021 Innovent Biologics 25 25#26IBI-344 (Taletrectinib, ROS1/NTRK) Development Plan Overview Leading next-generation ROS1/NTRK at Pivotal Phase 2 IBI-344 (Taletrectinib) Differentiated Advantages Kinase selectivity (1) Ba/F3 CD74-ROS1 WT (2) Ba/F3 CD74-ROS1 G2032R Preliminary Data of Pivotal Phase 2 (2021 ASCO) Crizotinib naïve pts: ORR-93% (14/15) Crizotinib pre-treated pts: ORR=60% (3/5) 100 80 60 40 20 0 • Taletrectinib Plasma Concentration (ng/mL) 500 ACK ALK ROS1 LTK DDR1 NTRK1 INTRK2 NTRK3 TXK 『 Tumor Volume (mm³) 300 250 Vehicle Lorlatinib 2.5 mg/kg DS-6051b 50 mg/kg Entrectinib 30 mg/kg 200 150 100 50 0 ° 1 2 3 Days after treatment Tumor Volume (mm³) 500 400 300 200 100 0 2 6 Days after treatment --Vehicle DS-6051b 100 mg/kg Lorlatinib 10 mg/kg -Lorlatinib 7.5 mg/kg -Lorlatinib 5 mg/kg Entrectinib 60 mg/kg) IBI-344 (Taletrectinib) is highly effective against both ROS1 WT and ROS1 G2032R Mutation with the potential for a differentiated and competitive clinical profile Pre-clinical and Clinical Highlights 400 Day 15 300 200 100 0 0 8 12 C101 400mg QD (-3) -C101 600mg QD (N-7) Day 1 --C1D1S 400mg QD (N-3) 16 20 24 Time Post Dose (hour) Brain/plasma ration in preclinical study Time points (h) -C1015 600mg QD (N-5) Pre-treatment Brain metastases 63012 mutation SD SD PR PR PR Subjects (N-5) -100 Time gest dose (Months) 2012ation IBI344 has also shown a manageable safety profile characterized primarily by gastrointestinal adverse events, with reversible increases AST and ALT. IBI-344 Development Program Overview Post-treatment 6 weeks (PR) Clinical • progress Entered into incense agreement with Anheart to co-develop and co- commercialize IBI-344 (taletrectinib) in Greater China ROS1+ NSCLC: Initial pivotal phase 2 data for ROS+ NSLCC published in 2021 ASCO NTRK+ solid tumor Dosed first patient for pivotal phase 2 for NTRK+ solid tumor 4 10 24 Taletrectinib Repotrectinib ROS1+ NSCLC: 0.40±0.10 0.90±0.19 0.07±0.01 0.53±0.15 2021 plan 3.111.20 0 IBI-344 has better brain penetration and CNS tissue durability. Plan to complete patient enrolment for the pivotal phase 2 for ROS1+ NSCLC Pivotal-stage potential first-in-class and best-in-class next-generation ROS1/NTRK inhibitor in China with promising preliminary Phase 2 efficacy and safety profile, to address the clear unmet medical needs in ROS1+ NSCLC patient population and NTRK solid tumors. Innovent Confidential Copyright©2021 Innovent Biologics 26 26#27IBI-310 (CTLA-4) Development Plan Overview Leading CTLA-4 Antibody at Multiple Pivotal Studies in China Phase 1a/1b Safety Data (N=27) Part B+C (1b): IBI-310+ sintilimab IBI-310 + Sintilimab Development Program Overview • Melanoma Phase 3 trial in adjuvant setting (First patient dosed in China in Apr 2020) Cervical Phase 2 trial in 2nd line and above (First patient dosed in China in Dec 2020) Melanoma subtypes Part A (1a): IBI-310 N=10 N=17 Mucosal Acral 6 (60%) 5 (31.3%) Clinical 3 (30%) 2 (12.5%) Non-chronic sun damaged progress 1 (10%) 9 (56.3%) HCC chronic sun damaged 0 1 (5.9%) Part B+C (1b): IBI-310 + Part A (1a): IBI-310 N=10 sintilimab N=17 Phase 3 trial in 1st line (First patient dosed in China in Feb 2021) No DLT DLT No DLT AE > grade 3 No AEs of grade 3 One AE of grade 3: AST increased 2021 plan • Disclosed at ASCO 2020 Abstract - Cervical To complete patient enrolment for cervical cancer by 2021 Melanoma To release the Phase 1 study data of IBI-310 in melanoma CTLA-4 is one of the few validated IO targets worldwide. IBI-310 has shown good safety profile in Phase 1 studies and progressed into registrational trials for multiple indications. Innovent Confidential Copyright©2021 Innovent Biologics 27#28IBI-188 (Letaplimab, CD47 mAb) Development Plan Overview Potential Best-in-class anti-CD47 antibody with Fast Development Progress IBI-188 Differentiated Advantages Optimized affinity for balanced toxicity and efficacy Stronger efficacy than hu5F9 and comparable tolerability in NHPS Tumor volume (mm³) 1750 1500- 1250- 1000- 750- 500- Pre-clinical Highlights IBI188 in Raji on NOD/SCID model 250- 0 8 11 13 16 20 23 27 30 34 Days post tumor implantation 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 Clinical vehicle progress h-IgG, 0.5 mg/kg IBI188, 0.02mg/kg IBI188, 0.1mg/kg IBI188, 0.5mg/kg • AML MDS Keep enrolling patients for the Phase 1b study for r/r AML Keep enrolling patients for the Phase 1b study for 1L MDS AML Complete patient enrolment for the Phase 1b study for r/r AML 2021 plan • MDS Complete patient enrolment for the Phase 1b study for 1L MDS Good tolerability and safety profile in 63 patients dosed in Phase 1a. Proven efficacy in ongoing Phase 1b studies for AML and MDS. Global development ongoing; China to complete patient enrolment Phase 1b studies in 2021. Innovent Confidential Copyright©2021 Innovent Biologics 28#29IBI-322 (PD-L1/CD47) Development Plan Overview Global First-in-class PD-L1/CD47 Bispecific Antibody at Clinical Stage • 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 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. CD47/PDL1 CD47" PDL1* Pre-clinical Highlights 89 Zr 20 0 %ID/g 89Zr-DFO# 1. CD47+, PD-L1+ tumor cells were subcutaneously implanted in MC38 tumor-bearing mice with CD47 knock-in 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 IBI-322 Development Program Overview • China Clinical progress US Enrolling patients in the Phase 1a/1b studies for advanced malignancies Started patient enrolment in Phase 1a in advanced malignancies in 2021.02 2021 plan • Plan to enter Phase 1b trial in China and get preliminary PoC data 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 29 29#30LAG-3 Cluster: IBI-110 (LAG-3 mAb) and IBI-323 (PD-L1/LAG-3 Bispecific Antibody) Development Plan Overview IBI-110 Clinical Highlights Phase 1 study data released on 2021 ASCO: Promising preliminary results with good safety profile and anti-tumor activities • - 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 IBI-110 Development Program Overview • 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-323 Development Program Overview Phase 1 study completed Phase 1 study started Clinical Clinical Completed patient for Phase 1a and Phase 1b study of IBI-100 in 2021.01 progress progress Dosed the first patient of Phase 1 study for IBI-323 for advanced malignant tumors Publish the Phase 1 study data of IBI-110 at 2021 ASCO Phase 1b and Phase 2 studies to start Phase 1 study ongoing 2021 plan 2021 plan Will start multiple Phase1b and Phase2 studies to explore the potential of IBI110 in different tumor types To keep enrolling patients for the Phase 1 study of IBI-323 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 30#31IBI-110 (LAG-3 mAb): 2021 ASCO Data Promising Preliminary Efficacy and Safety Profile in Phase 1 Study IBI-110 Phase 1a/1b Study Design & Safety IBI-110 Phase 1a/1b Study Efficacy Data IBI110 5 mg/kg + sintilimab 200mg Q3W IBI110 3 mg/kg+ sintilimab 200mg Q3W IBI110 1.5 mg/kg+ sintilimab 200mg Q3W IBI110 0.7mg/kg + • Phase la: IBI110 dose escalation Advanced solid tumor 3+3 Dose escalation 4 weeks (28 d) DLT obs. IBI110 iv q3w IBI110 20 mg/kg IBI110 10 mg/kg IBI110 3 mg/kg IBI110 1 mg/kg sintilimab 200mg Q3W DLT completed IBI110 0.3mg/kg + IBI110 0.3 mg/kg sintilimab 200mg Q3W IBI110 0.1 mg/kg N=1 IBI110 0.01 mg/kg N=1 Phase Ib: IBI110+ sintilimab dose escalation PD-X naïve advanced solid tumor 3+3 Dose escalation 4 week (28 d) DLT obs. IBI110+ sintilimab iv q3w Figure 1 Clinical Activity in Pts Treated with IBI110+ Sintilimab 0.01mg/kg Mono 0.1mg/kg Mono 0.3mg/kg Mono■ 1mg/kg Mono 3mg/kg Mono■ 10mg/kg Mono 20mg/kg Mono ■ 0.3mg/kg Combo 0.7mg/kg Combo 1.5mg/kg Combo 3mg/kg Combo■ 5mg/kg Combo■ ▲ PR* ⚫ PD ■Death ⚫ First Combo Dose + EOT Treatment Ongoing 1 2 3 4 5 6 7 8 9 10 11 12 Months *1 PR in Pt treated with IBI110 monotherapy (ovarian cancer); 2 PR in Pts treated with IBI110+Sintilimab (lung cancer and endometrial cancer); Table 2 Treatment Related Adverse Events in Phase la Phase la (n=22) Table 3 Treatment Related Adverse Events in Phase Ib Phase Ib (n=18) All Grade, n (%) 2Grade 3, n (%) . All Grade, n (%) ≥Grade 3, n (%) Any TRAE 12 (66.7) 4 (22.2) Any TRAE 9 (40.9) 1 (4.5) AST increased 5 (27.8) о Anaemia 4 (18.2) 1 (4.5) ALT increased 4 (22.2) 0 Anaemia 4 (22.2) 0 Proteinuria 4 (18.2) 0 Rash 4 (22.2) 0 Blood creatinine 2 (9.1) 0 Bilirubin conjugated increased 1 (5.6) 1 (5.6) increased Hepatic function abnormal 1 (5.6) 1 (5.6) Neutrophil count 1 (4.5) 0 Hypertension 1 (5.6) 1 (5.6) irAE 4 (22.2) 1 (5.6) decreased Hypertriglyceridaemia 1 (4.5) Hypoglycemia 1 (4.5) irAE 0 000 Hyperglycaemia Listed all TRAES of 181110 single agent treatment period. Hypothyroidsm Hyperthyroidism Dry mouth Listed TRAES occurred in more than 20% subjects, any TRAE >Grade 3 and all irAES. 3 (16.7) 0 1 (5.6) 0 1 (5.6) 0 1 (5.6) 1 (5.6) 3 pts with PR when submitted to ASCO2021, including 1 PR with ovarian cancer in IBI110 monotherapy, 1 PR with endometrium carcinoma and 1 PR with small cell lung cancer in combination therapy. Efficacy updated with additional 2 PR with NSCLC failed of standard of care in combination therapy as of 2021.08 IBI110 alone or plus sintilimab has shown an acceptable safety profile and preliminary anti-tumor activity in the Phase 1 study. Innovent Confidential Copyright©2021 Innovent Biologics 31#32TIGIT Cluster: IBI-939 (TIGIT mAb) and IBI-321 (PD-1/TIGIT Bispecific Antibody) Development Plan Overview IBI-939 Preclinical Highlights • IBI-939 is fully human antibody with high TIGIT binding affinity and strong ligand blocking activity • • 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 Clinical progress 2021 plan IBI-321 Preclinical Highlights 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 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 Phase 1b study started • Phase 1 study started Clinical Started Phase 1b for IBI-939 in combination with sintilimab for advanced lung cancer in early 2021 progress Dosed the first patient of Phase 1 study for IBI-321 for advanced malignant tumors • Phase 1b study ongoing To keep enrolling Phase 1b for IBI-939 Phase 1 study ongoing 2021 plan To keep enrolling patients for the Phase 1 study of IBI-323 Leading and highly differentiated position in TIGIT area: TIGIT mAb under Phase 1b development; PD-1/TIGIT bispecifics started Phase 1 study with novel biological mechanism and potential strong synergy. Innovent Confidential Copyright©2021 Innovent Biologics 32#33Innovent Section 2 - Part 3 Overview of Selected Pipeline - Non-oncology#34IBI-306 (PCSK9) Development Plan Overview First China-developed PCSK9 at Multiple Phase 3 Studies Data of SAD and MAD IBI-306 Development Program Overview HeFH Phase 3 study for HeFH met primary endpoint in 2021.08 Non-FH Have completed patient enrollment for Phase 3 in China for Non-FH 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: 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%) Percent change in LDL-C from baseline, mean (SE) 20- -20- -40- -50- -60- Phase 1: Percentage Change from Baseline in LDL-C Levels • Clinical • progress 75 mg SC → 75 mg IV o 150 mg SC 300 mg SC 450 mg SC 450 mg IV 2021 plan - 600 mg SC Placebo -80 0 8 15 22 29 36 43 57 71 85 Days after single dose 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 a long-acting PCSK9 inhibitor. Percent change in LDL-C from baseline, mean (SE) 20- -20- -40- -50- -60- Phase 2: Percentage Change from Baseline in LDL-C Levels -80 0 15 29 43 57 71 85 Days after first dose Non-FH Will keep following up the registrational trials of IBI-306 in Non-FH Comparison with other PCSK9 in China Imported PCSK9i Amgen, Sanofi Other Domestic PCSK9i IBI-306 Innovent Status Ph3 On market 75 mg Q2W 140 mg Q2W HoFH HoFH o 300 mg Q4W 420 mg Q4W Indications HeFH Non-HF 450 mg Q6W → 600 mg Q6W -Placebo 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 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, with the Phase 3 for HeFH already met primary endpoint. Innovent Confidential Copyright©2021 Innovent Biologics 34#35IBI-362 (GLP-1/GCGR) Development Plan Overview Weekly GLP-1/GCGR with Potential BIC Profile for Obesity and Diabetics • Percent CFB in body weight (%), LS mean (SE) 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; improvement on Liver fat accumulation, inflammation and fibrosis 3) 4) potential CV risk reduction Clinical Highlights Percentage Change in body weight N 0 N + through week 12 -8- 0 4 8 12 Time (weeks) 0.6% CFB in body weight (kg), LS mean (SE) 2 CFB in body weight through week 12 -8. T 0 4 8 12 Time (weeks) Clinical Highlights Promising data of IBI-362 in both weight loss and glucose control in Ph1b studies (Obesity / Diabetes) 1) Results of the Phase 1b study of IBI362 in overweight/obesity (published at ADA 2021 and Eclinical Medicine) showed a favorable safety profile and robust efficacy, including weight loss and multiple metabolic benefits, underlying the advantages and potential of IBI362 as a best-in-class new generation GLP-1 based drug. The observation in extended cohort (higher dose level) were even more efficacious. 2) Results of the Phase 1b study of IBI362 in patients in Type 2 diabetes were very impressive, and will be disclosed at 2021 IDF annual meeting. Clinical IBI-362 Development Program Overview progress Obesity: Released Phase 1b data in obesity at ADA 2021 and Eclinical Medicine FPFD in Phase 2 study for IBI-362 in obesity in 2021.06 0.37 kg IBI362 3.0 mg IBI362 4.5 mg Diabetes: -3.80 kg -5.12 kg -5.77 kg IBI362 6.0 mg Pooled placebo 2021 plan 6 -4.81% -6.05% -6.40% 6 Enrolled first patient in Phase 2 study for IBI-362 in diabetes in 2021.08 Plan to release Phase 1b data in diabetics at IDF 2021 First-in-class OXM3 in Phase 2 stage in China that has demonstrated strong weight deduction effect as well as multiple metabolic benefit in the Phase 1b study for obesity subjects, and demonstrated strong glucose control and other metabolic improvements in the Phase 1b study for diabetics patients. Innovent Confidential Copyright©2021 Innovent Biologics 35#36IBI-302 (VEGF/Complement) Development Plan Overview First-in-class Bispecific Fusion Protein Blocking VEGF/Complement Proteins • • . IBI-302 Differentiated Advantages High affinity blocker of VEGF family and complement protein that simultaneously inhibits angiogenesis and inflammation pathways IBI-302 is constructed by domains of human VEGFR1/2 and CR1 on the human IgG1 backbone; Fully human sequence with low immunogenicity risk IBI-302 has the potential effect in retinal fibrosis and macular atrophy Clinical Highlights Primary outcomes of Phla in nAMD Chang from baseline in BCVA 20 • Clinical Highlights Phase 1a data was published at 2020 AAO: good safety and tolerability with promising effect 1) BCVA increased by 8 letters on average for 4mg group at week 12 and effect lasts about 8~12 weeks after three loading injections 2) Average central retinal thickness decreased by 134μm at week 12 Phase 1b data will be disclosed at 2021 AAO IBI-302 Development Program Overview Neovascular/wet AMD BCVA ETDRS letter 15 10 Day 8 15 29 43 Clinical progress Started Phase 2 trial in wet AMD in 2021.04 -0.05mg IBI302 -0.15mg IBI302 -0.5mg IBI302 1mg IBI302 2mg IBI302 2021 plan • 4mg IBI302 Diabetic macular edema BCVA: best corrected visual acuity Neovascular/Wet AMD Phase 2 study exploring efficacy in fibrosis and macular atrophy is underway in 40 sites Phase 1b/2 trial in diabetic macular edema will be launched by the end of 2021 Global first anti-VEGF/anti-complement bispecific molecule designed to potentially address huge unmet medical needs in neovascular AMD and other ophthalmology diseases with poor response or declining effect under current anti-VEGF treatment. Good safety and tolerability, promising Innovent effect observed in Phase 1. Confidential Copyright©2021 Innovent Biologics 36#37Section 3 Core Strategy Innovent#38Innovation and Globalization are Our Key Strategies Innovation Discover potentially global first-in-class assets + Build on robust pipeline Focus on unmet patients' needs ● Global leading R&D capabilities and cutting-edge technologies Innovent Globalization Develop and market Innovent products globally Innovent A premier global biopharmaceutical company 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 Confidential Copyright©2021 Innovent Biologics 38 88#39Innovent Academy and Key Drug Discovery Strategies Innovent Academy Monoclonal antibodies 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 US Lab (Maryland) Position: R&D center in the US; Important component of Innovent global R&D infrastructure Focus: Disease mechanism study and technology platform development Goal: Connect frontline global innovation and clinical practices; accelerate translation of scientific discovery into medicines Biology-driven, Technology-enabling (50+ drug discovery projects ongoing in Innovent Academy) Oncology: Immunotherapy and Targeted therapy Multi-specific antibodies ADC Cell Therapy Non-Oncology: Autoimmunity, Metabolic diseases, Autoimmunity Ophthalmology Metabolic diseases Ophthalmology Innovent Confidential Copyright©2021 Innovent Biologics Ope A FATTY LIVER Clary mude mea Opc re 39#40Fully Accelerated Global Development Footprint Global Development Organization and Capability Building up fully functioned global development team in short time: Global study footprint Drive and execute global strategy Strong CRO and vendor oversight Interface regulatory interactions Support in global medical community Explore Pipeline with Global Potential Sintilimab: BLA for 1L nsqNSCLC accepted by the U.S. FDA in May 2021. Pursue global opportunities for sintilimab across tumor types. Lilly IBI-305 (bevacizumab): NDA filed in Indonesia; Out licensed north America rights to Coherus Coherus OSCIENCES IBI-188 (CD47): Phase 1b in China and US IBI-322 (PD-L1/CD47): Phase 1 in China and US IBI-110 (LAG-3): IND approved by US FDA IBI-939 (TIGIT): IND approved by US FDA etana Biotech Global Development Strategy Innovation: Globally develop innovative and transformative molecules in indications with high unmet medical need Differentiation: Find differentiation position for innovative molecules by tumor/disease type, disease setting and mechanism of action Globalization: Build global development platform, team, and establish global clinical monitoring capabilities 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 40 40#41Section 4 Financial Overview Innovent#42Income Statement Six Months Ended 30 June RMB'million Revenue Cost of sales 2021 2020 1,941.8 984.2 (234.8) (184.8) Gross profit (IFRS Measure) 1,707.0 799.4 Other income 90.3 107.4 Research and development expenses (1,042.1) (808.0) Administrative and other expenses (340.9) (186.8) Selling and marketing expenses (1,137.3) (446.6) Royalties and other related payments (339.8) (134.9) Other gains and losses (85.2) 97.5 Finance costs (27.1) (32.6) Income tax expense (0.2) (3.5) Loss for the period (IFRS Measure) (1,175.3) (608.2) Adjustments to Non-IFRS measure 498.50 75.80 Loss for the period (Non-IFRS Measure) (676.8) (532.4) Note: Numbers may not add due to rounding Innovent Confidential Copyright©2021 Innovent Biologics Revenue In the first half year of 2021, we generated total revenue of RMB1,941.8 million, including RMB1,854.6 million driven by product sales coupled with RMB87.2 million from License fee income. 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) and HALPRYZAⓇ(rituximab biosimilar) IFRS loss for the period IFRS loss for the period was RMB1,175.3 million Non-IFRS loss for the period Non-IFRS loss was RMB676.8 million. Adjustments to IFRS measure include share-based compensation expenses and net foreign exchange gains or losses. 42#43Balance Sheet RMB'million Bank balances and cash Other financial assets-current Trade receivables Deposits, prepayments and other receivables Inventories Total Current Assets As at 30 June 2021 As at 31 December 2020 11,164.0 7,763.8 357.3 1,002.5 475.4 164.4 164.5 1,101.6 705.7 13,432.5 9,466.7 Property, plant and equipment 2,011.5 1,584.1 Right-of-Use assets 316.1 327.1 Intangible assets 96.9 32.6 Deposits for acquisition of property, plant and equipment 395.9 272.3 Other receivables and tax recoverables 158.2 139.3 Other financial assets 45.4 12.9 Total Non-current Assets 3,024.0 2,368.3 Total Assets 16,456.5 11,835.0 Trade payables (277.3) (120.6) Other payables and accrued expenses (1,369.4) (973.7) Contract liabilities (210.2) (120.4) Borrowings (370.0) (255.0) Lease liabilities (14.9) (16.2) Total Current Liabilities (2,241.8) (1,485.9) Contract liabilities (779.7) (588.1) Borrowings-non Government grants Lease liabilities Total Non-current Liabilities Total Liabilities Total Equity Innovent (58.5) (45.8) (1,468.1) (925.2) (3.1) (10.2) (2,309.4) (1,569.3) (4,551.2) (3,055.2) 11,905.3 8,779.8 Note: Numbers may not add due to rounding Confidential Copyright©2021 Innovent Biologics Cash balance As at 30 June 2021, our total cash increased to RMB11,164 million (equivalent to US$1.7 billion) 43 33#44Continuously Strong Support from Globally Renowned Investors Total fundraising since inception: US$ 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 PRIME CAPITAL OppenheimerFunds BlackRockⓇ US$ 485m 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 WELLINGTON MANAGEMENT SEQUOIA UBS Global Asset Management LAKE BLEU CAPITAL Innovent 清池资本 Confidential Copyright©2021 Innovent Biologics Continued interests and confidence of global investors Track record in value delivering Capability to exceed market expectations Removed "B" marker and was included in the Hang Seng Composite index and included in the Stock Connect 44#45Section 5 Outlook Innovent#46Key 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 25 diverse-staged assets (5 commercialized, 1 NDA under NMPA review, 5 pivotal trials, 14 at clinical stage) Driving upside potentials of prioritized 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 46 46#47Summary: A Long Term Vision 01 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 global markets • Global commercial supply Innovent 03 33 2030 • More commercialized ● products, including first- in-class products launched globally To be a premier global biopharmaceutical company Confidential Copyright©2021 Innovent Biologics VISION 47#48始于信 达于行 Start with Integrity Succeed through Action Innovent Confidential Copyright©2021 Innovent Biologics 48