#1Driving the Next Generation of Cell-Based Therapies MaxCyte Corporate Presentation NASDAQ: MXCT • LSE: MXCT August 2023 M MaxCyte M MaxCyte eœpert® AT»³ ST» GTX" are registered trademarks of MaxCyte, Inc. in the U.S.A. VL™ is a trademark of MaxCyte, Inc.#2Disclaimer M MaxCyte The content of this document (the "Presentation") has not been approved by an authorized person within the meaning of the Financial Services and Markets Act 2000 ("FSMA"), as amended. Reliance on this document for the purpose of engaging in any investment activity may expose an individual or organization to a significant risk of losing all of their investment. If you are in any doubt about the investment to which this Presentation relates, you should consult a person authorized by the Financial Conduct Authority who specializes in advising on securities of the kind described in this Presentation or your stockbroker, bank manager, solicitor, accountant or other financial adviser. This Presentation has been issued by MaxCyte Inc (the "Company") and does not constitute or form of, not be construed as an offer or invitation to sell or issue or any solicitation of, any offer to purchase or subscribe for any securities in the Company in any jurisdiction. Neither the Presentation, nor any part of it nor anything contained or referred to in it, nor the fact of its distribution, should form the basis of or be relied on in any connection with or act as an inducement in relation to a decision to purchase or subscribe for or enter into any contract or make any other commitment whatsoever in relation to any such securities. This Presentation does not constitute a recommendation regarding the securities of the Company. This presentation is only addressed to and directed at (i) persons who are outside the United Kingdom, (ii) persons who have professional experience in matters relating to investments falling within Article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005, as amended (the "Order"), (iii) persons who are high net worth entities falling within Article 49(2)(a) to (d) of the Order, and/or (iv) any other persons to whom this presentation may otherwise lawfully be communicated without contravention of section 21 of the Financial Services and Markets Act 2000 or to whom it may otherwise lawfully be distributed (all such persons together being referred to as "relevant persons"). This presentation may not be acted on or relied on by persons who are not relevant persons. Any investment or investment activity to which this presentation relates is available only to relevant persons. Certain statements in this Presentation are, or may be deemed to be, forward looking statements within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1955, including but not limited to statements regarding our expected potential future revenue. The words "may," "might," "will," "could," "would," "should," "expect," "plan," "anticipate," "intend," "believe," "expect," "estimate," "seek," "predict," "future," "project," "potential," "continue," "target" and similar words or expressions are intended to identify forward-looking statements, although not all forward-looking statements contain these identifying words. Any forward-looking statements in this presentation are based on management's current expectations and beliefs and are subject to a number of risks, uncertainties and important factors that may cause actual events or results to differ materially from those expressed or implied by any forward-looking statements contained in this press release, including, without limitation, statements regarding the Company's future growth, results of operations, performance, future capital and other expenditures (including the amount, nature and sources of funding thereof), competitive advantages, business prospects and opportunities. These and other risks and uncertainties are described in greater detail in the section entitled "Risk Factors" in our Annual Report on Form 10-K for the year ended December 31, 2022, filed with the Securities and Exchange Commission on March 15, 2023 as well as discussions of potential risks, uncertainties, and other important factors in the other filings that we make with the Securities and Exchange Commission from time to time. These documents are available through the Investor Menu, Financials section under "SEC filings" on the Investors page of our website at http://investors.maxcyte.com. No statement in the presentation is intended to be, or intended to be construed as, a profit forecast or profit estimate or to be interpreted to mean that earnings per Company share for the current or future financial years will necessarily match or exceed the historical earnings per Company share. As a result, no undue reliance should be placed on such statements. Any forward-looking statements represent our views only as of the date of this press release and should not be relied upon as representing our views as of any subsequent date. We explicitly disclaim any obligation to update any forward-looking statements, whether as a result of new information, future events or otherwise. No representations or warranties (expressed or implied) are made about the accuracy of any such forward-looking statements. 2 © 2023 MaxCyte, Inc. All Rights Reserved#3A Leading Provider of Cell-Engineering Platform Technologies With 600+ platforms in place, our proprietary technology unlocks the significant potential of advanced therapeutics Leading the growing next-generation cell therapy market and capitalizing on rising demand for non-viral engineering approaches Ⓡ • Enables delivery of almost any molecule into almost any cell type • Leads the industry in performance (measured. by consistency, efficiency, viability, flexibility and scale) • Extensive product portfolio, supported by a robust intellectual property portfolio ● ~25% 5-Year CAGR of core revenue growth (2018-2022); pharmaceutical-like gross margins of ~89% (2018-2022) • 20+ years of cell engineering expertise; 30+ field sales and application scientists that support our customers* ● ● Significant number of collaborations with industry and academia FDA Master File and International Technical Files provide clear regulatory path, potentially reducing clinical risk/shortening clinical development Used to manufacture drug products for over 45 clinical trials to date 3 M MaxCyte Innovative business model focused on value creation and shared partnership success -P₂- • Allows MaxCyte to participate in the value created by our partners' programs ● • 23 SPL partnerships, which include approximately $2B in potential pre-commercial milestone payments with upside from commercial sales-based payments • Focused over the long-term on creating a diverse portfolio of patient treatments for indications developed by our strategic partners *As of December 31, 2022 © 2023 MaxCyte, Inc. All Rights Reserved#4Who We Are - Collaborative, Innovative and Experienced Partner Nasdaq Launch of EXPERT Listing Nasdaq VLx/ Grand Opening Rockville, MD Impact Scientific Foundation 1999 *As of December 31, 2022 23 SPL Partnerships Signed Since 2017 125 Employees* 30+ Field Sales and Application Scientists* Scalable GT Transfection System Cell Therapy 2000 FDA Master File 2002 Scalable STX Transfection System 2008 Listing London Stock Exchange/AIM LSE: MXCT, MXCN March 2016 London Stock Exchange Drug Discovery 2016 ATX Gen 2 Transfection System 4 2018 EXPERT™ Platform expert 2019 MXCT July 2021 M MaxCyte 2021 2022 © 2023 MaxCyte, Inc. All Rights Reserved#5MaxCyte: Leading Partner for Complex Cellular Engineering Current addressable market** **Number of gene-modified ex- vivo cell therapy companies using non-viral delivery. Allogene CRISPRI THERAPEUTICS 75+ Potential SPL Partnerships THERAPEUTICS invios editas 23 MEDICINE INNOVATIVE IMMUNO-ONCOLOGY Beam THERAPEUTICS 23 SPL Partnerships signed since 2017 Strategic Platform Licenses (SPL) Partnerships, including 5 so far in 2023 CARIBOU BIOSCIENCES Kite KSQ MYELCID A GILEAD Company Therapeutics, Inc. VERTEX PRECISION BIOSCIENCES CO celularity 125+ Programs* Clinical Licenses that are part of our SPLs VOR BIOPHARMA Sana Biotechnology INTIMA BIOSCIENCE ● nkarta THERAPEUTICS *Updated as of December 31, 2022 LG Chem curamys M MaxCyte 16 Programs are currently active in the clinic* Cleared INDS or Equivalent catamaranBIO WALKING FISH THERAPEUTICS VITTORIA biotherapeutics Lyell prime medicine_ © 2023 MaxCyte, Inc. All Rights Reserved#6Value Creation from SPLs BT tit Licensing deals include significant development milestones and high-value participation in future commercial success of partners Potential value of pre-commercial (clinical development) milestones from SPLs: ~$2B Sales-based payments upon partner's product commercialization Recurring revenues from lease of instruments and sales of single-use disposables that grow with program success Milestone revenue is MaxCyte's highest growth revenue stream **Casebia/CRISPR's SPL partnership (signed in 2017) included the rights to use MaxCyte's technology in the development of exa- cel (formerly known as CTX001). As announced in the press release on September 28th, 2022, Vertex has signed an SPL agreement with MaxCyte - Vertex has obtained the clinical and commercial rights to use MaxCyte's technology for the development of exa-cel (formerly known as CTX001). 6 Cumulative Potential Pre-CML Milestones Potential Value of Pre-Commercial Milestones: ~$2B USD ** CASEBIA THERAPEUTICS 2017 PRECISION BIOSCIENCES CRISPRI THERAPEUTICS 2018 KSQ V VOR BIOPHARMA editas MEDICINE Beam THERAPEUTICS Kite AGILEADC invios INNOVATIVE IMMUNO-ONCOLOGY CARIBOU BIOSCIENCES™ Allogene nkarta THERAPEUTICS Sana Biotechnology M MaxCyte CO celularity curamys 2020 2021 2019 Graph is provided for illustrative purposes only. VERTEX LG Chem MYELCID % INTIMA BIOSCIENCE 2022 prime medicine_ VITTORIA biotherapeutics Lyell WALKING FISH THERAPEUTICS catamaranBIO 2023 © 2023 MaxCyte, Inc. All Rights Reserved#7Continued Investment in Cell and Gene Therapy 650+ 6 Genetically-modified cell therapies in preclinical development New cell and gene therapies approved in 2022 WW Product Sales: ($M) 1,800+ Genetically-modified cell therapies in development Source: Evaluate Pharma 25,000 20,000 15,000 10,000 5,000 0 Projected sales of gene-modified cell therapies by 2026 2020 0 2021 Source: Evaluate Pharma 2022 2023 Source: Evaluate Pharma 2024 2025 2026 M MaxCyte Total amount of 2022 global financings for cell and gene therapy companies $12.6B Source: Alliance for Regenerative Medicine 2022 was focused on innovation and complexity: "Other" cell types (such as dendritic cells, stem cells or myeloid cells, among others) grew 129% in 2022 compared to 2021 Development of allogeneic therapies has increased more sharply (33%) than autologous modalities (23%) in the past year Rapid growth in cell targets: TAA, GPRC5D, CLEC12A, CD22, CD276, CLDN18 and KRAS experienced 100+% yr/yr growth in 2022 Source: Saez-Ibañez, Ana Rosa, et al. "Landscape of Cancer Cell Therapies: Trends and Real-World Data." Nature News, June 2022. © 2023 MaxCyte, Inc. All Rights Reserved#8EXPERT™ Platform Addresses Industry Challenges Challenges A⁰ C Lack of industry standard for process design causes development to be costly and inconsistent across manufacturing runs Next-generation cell therapy programs have become increasingly complex requiring multiple edits Regulatory risk increases with new unknowns (donor cells, next-gen approaches, new indications) Vein-to-vein manufacturing times are high; optimizations needed to deliver medicines to patients faster MaxCyte's Solutions A (✓: 8 M MaxCyte MaxCyte technology allows plug and play processes with rapid optimization delivering reproducible outcomes and the ability to seamlessly scale up from pre-IND to the clinic and commercialization Flow Electroporation® technology facilitates multiplex and sequential engineering without the payload and capacity limitations of viral approaches FDA Master File can be referenced in regulatory filings to accelerate and de-risk regulatory review EXPERT™ platform provides industry leading transfection efficiency & cell viability at high scale in 30 minutes or less, enabling manufacturers to quickly scale up production © 2023 MaxCyte, Inc. All Rights Reserved#9The EXPERT™ Platform Enabling Non-Viral Cell Engineering ● Launched in 2019 based on MaxCyte's proprietary Flow Electroporation technology and has been optimized for the past 20+ years • Leverages the reversible permeability of the cell membrane in response to an electric charge • Universally delivers molecules, such as nucleic acids, gene-editing tools and proteins, into cells ● Agnostic to cell type, approach (auto/allo) and/or gene manipulation technology Enables customers to use a single platform from concept through to the clinic in a GMP environment • Supported by a robust intellectual property portfolio (150+ patents granted in US and foreign jurisdictions and 95+ patents pending worldwide) EXPERT™ Instrument Portfolio Small/mid-scale RUO AT&™ ● High Performance: >90% transfection efficiencies (depending on cell type and molecule) • >90% cell viabilities Computer-controlled system for reproducible results 9 Full scale RUO STX Flexibility: Single, fully-defined, animal component-free electroporation buffer for all cell types Pre-loaded library of validated, cell-specific protocols ● Scalability - Ability to Transfect: 75,000 to 7 million cells in seconds ● GTX ● Full scale RUO/CGMP Up to 20 billion cells in less than 30 minutes And up to 200 billion cells in less than 30 minutes with the high scale VLX M MaxCyte High Quality: ● Large Scale RUO/CGMP VLX™ TM Sterile, single-use processing assemblies (PAS) Closed, cGMP-compliant, ISO-certified, and CE marked instruments Supported by US FDA Master File and global equivalents © 2023 MaxCyte, Inc. All Rights Reserved#10MaxCyte Business Model - Drug Discovery Market DRUG DISCOVERY & DEVELOPMENT - Cells used to Discover / Produce Drug Products Key Applications: Cell-based assays, protein and antibody production, vaccine development Customer base: Large/small biopharma and academic centers Drug Discovery Revenue Model Instrument sale (ATX/STX) sale (ATX/STX) + AT& Small/mid-scale RUO 10 MM Single-use disposables (processing assemblies) ST** Full scale RUO M MaxCyte M Razor/Razor Blade Economics © 2023 MaxCyte, Inc. All Rights Reserved#11MaxCyte Business Model - Cell Therapy Market CELL THERAPY - Cell itself is the Drug Key Applications: Ex-Vivo Engineered Cell Therapies Customer Base: Leading global cell therapy developers and academic translational centers Preclinical and Academic Revenue Model SPL Partnership Model Instrument Sale (ATX/GTX) Primarily ATX given early development AT RUO ¹0 Small/mid-scale Annual Instrument License Fee (GTX) (Research / Clinical) Full scale GTX CGMP + 11 + Single-use Disposables (processing assemblies) Full scale GTX RUO Single-use Disposables (processing assemblies) + Strategic Partnership Terms M MaxCyte Razor/Razor Blade Economics Razor/Razor Blade Economics and Share of Therapeutic Economics © 2023 MaxCyte, Inc. All Rights Reserved#12Example: Typical Single-Product Revenues from a Representative License Deal F Commercial Phase Low single digit % share of sales, including sales-based payments, annual instrument fees and disposable sales Approval: Year 5+ Multiple 7-figure milestones Mid-late Clinical: (Phase 2/3) Years 3-5+ 7-figure milestone per product increasing instrument and disposables usage Early Clinical: (Phase 1/2) Years 1-3 Mid-6-figure to Low-7-figure milestones 1-3+ instruments + disposables 12 M MaxCyte Cell Therapy Partner Program Value Schematic Instruments and Processing Assemblies Milestones Sales-Based Payments © 2023 MaxCyte, Inc. All Rights Reserved#13SPL Partnerships Offer Significant Revenue Upside, Particularly in Commercial Higher Value Partnership NPV Influencing Factors: • Large indications - greater ● royalty revenues or early achievement of sales-based milestones • Instrument & consumables - Higher utilization Significant upside in commercial revenue opportunity $200 $100 *10-year NPV **Weighted based on the expected split of commercial programs in Year 6 (assuming earliest approval); Assumes first 5-years of standard ten-year biotech sales curve $0 Example Partnerships NPV* Assumes 6 programs per SPL launching 1 year apart, 2 fail in preclinical, 4 enter clinical, and 1 reaches commercial ~$165M $147 $18 Higher Value Partnership While pre-commercial revenues are comparable, commercial revenues can vary significantly ~$53M $37 $16 ~$85M 13 $69 $16 Weighted Average NPV** Commercial Pre-Commercial Numbers are illustrative as an example and not specific to one SPL Partnership ● M MaxCyte Influencing Factors: Small indications - lower sales royalties or longer time period to realize commercial milestones ● Lower Value Partnership NPV Conservative commercial milestones - Smaller opportunity Instrument & consumables - Lower utilization Lower-bound estimate per Partnership © 2023 MaxCyte, Inc. All Rights Reserved#14MaxCyte Partnership Pre-Commercial Milestone Events Total Milestone Events by Phase Pivotal or Later Pre-Pivotal 2017-2022 IND Pivotal or Later As of March 2023/ Pre-Pivotal includes Phase 1, Phase 2 and first manufacturing events IND O 2023-2025 50 potential SPL pre-commercial milestone events over the next 3 years 14 M MaxCyte Representative SPL Payments IND: Low to Mid 6-figure milestones Pre-Pivotal: Low 7-figure milestones Pivotal or Later: Low to Mid 7-figure milestones Pre-Pivotal © 2023 MaxCyte, Inc. All Rights Reserved#15MaxCyte Partnerships - Near and Long-Term Revenue Potential with Strong Upside in Commercial Opportunity First Wave 1 Potential Approved Partner Program Launch Potential: 2024 SPL Program: Vertex's Exa-Cel Indications: Sickle Cell Disease Beta-Thalassemia Source: Evaluate Pharma Second Wave 7 Potential Approved Partner Programs Launch Potential: 2025-2027 SPL Programs: SPL Partner A Program 1 SPL Partner A Program 2 Caribou's CB-010 Editas' EDIT-301 Precision Bio's Azer-cel Vor's Trem-cel Invios' APN401 Indications: Lymphoma/Leukemia Solid Tumors Sickle Cell Disease Beta-Thalassemia Third Wave 8 Potential Approved Partner Programs Launch Potential: 2028-2030 SPL Programs: Undisclosed Example Indications: Solid Tumors Lymphoma/Leukemia Multiple Myeloma Sickle Cell Disease Beta-Thalassemia 15 Fourth Wave 20+ Additional Preclinical Partner Programs Launch Potential: 2030+ Example Indications: Solid Tumors Autoimmune Diseases Neurodegenerative Diseases Genetic Diseases Lymphoma/Leukemia M MaxCyte Fifth Wave Additional Licensed Programs and New Partnerships Signed Launch Potential: 2032+ © 2023 MaxCyte, Inc. All Rights Reserved#16MaxCyte-Enabled Active Clinical Trials. Clinical Phase: Phase 1 Phase 1/2 Pivotal Cell Approach: Allogeneic Autologous As of March 2023/ Includes Commercial and Academic Clinical Trials Program received IND clearance but is not yet listed on clinicaltrials.gov CBO10 (Caribou) CAR-T Azer-Cel (Precision) CD34+/HSCS Trem-cel (Vor) CD34+/HSCS 16 Exa-cel: B-thal (Vertex) EDIT301: B-thal (Editas) Exa-cel: SCD (Vertex) M MaxCyte EDIT301: SCD (Editas) M MaxCyte Other Cell Types/ Approaches APN401 (Invios) © 2023 MaxCyte, Inc. All Rights Reserved#17MaxCyte Enables Next-Generation Cell Therapies Across a Variety of Diseases Indications in Active MaxCyte-Enabled Clinical Trials Clinical trial = FDA IND clearance or equivalent Genetic Diseases Beta-Thalassemia Sickle Cell Disease Chronic Granulomatous Disease (CGD) Hematological Malignancies Acute Lymphoblastic Leukemia Acute Myeloid Leukemia Chronic Lymphocytic Leukemia Multiple Myeloma Non-Hodgkin Lymphoma T-Cell Lymphoma Infectious Disease As of March 2023 / Includes Commercial and Academic Clinical Trials. Source: clinicaltrials.gov HIV Solid Tumors Non-small Cell Lung Cancer Glioblastoma Renal Cell Carcinoma Other Solid Tumors 1,000+ Estimated patients in active clinical trials enabled by MaxCyte 17 M MaxCyte Gene-Editing Tools used in MaxCyte-Enabled Clinical Trials ✓ ARCUS ✓ Base-editing (CRISPR) ✓ CRISPR ✓ RNA-Based Engineering ✓ TALENS ✓ Zinc Finger Nucleases (ZFNs) First MaxCyte-Enabled Therapy is expected to be approved as early as 2023/2024 Source: Evaluate Pharma © 2023 MaxCyte, Inc. All Rights Reserved#18Financials Update M MaxCyte® 18 © 2023 MaxCyte, Inc. All Rights Reserved#19Q2 2023 Key Financial Highlights Revenues ($M) $9.6M $1.9 $7.7 $9.0M $0.8 $1.7 Gross Margins ~85% $6.6 Q2 2022 Q2 2023 Cell Therapy Drug Discovery Program-related 19 Operating Expenses ($M) $17.2M M MaxCyte Q2 2022 $20.7M Q2 2023 Balance Sheet Total cash, cash equivalents and short-term investments were $216 million as of June 30, 2023 © 2023 MaxCyte, Inc. All Rights Reserved#20Continued Growth Over the Last 5+ Years 2022 2021 2020 2019 2018 2017 2022 2021 2020 2019 2018 2017 1 3 Core Business Revenue by Year $16M $13M $19M Core Business Revenue 8 $23M Cumulative SPL Partnerships by Year SPL Partnerships 12 $31M 15 18 20 $40M Core Revenue 5-Year CAGR ~25% 2018-2022 200+ Rapid Growth of Cumulative Instrument Placements 2017 250+ 2018 320+ M MaxCyte 2019 400+ Gross Margin ~89% 2018-2022 2020 500+ 2021 600+ 2022 © 2023 MaxCyte, Inc. All Rights Reserved#212023 YTD Summary and Outlook for 2023+ ● ● 1 2023 YTD Achievements Five SPL partnerships announced year-to-date: ● Prepare/Isolate ● 2 Prime Medicine in August, Lyell Immunopharma and Vittoria Biotherapeutics in July, Walking Fish Therapeutics in May and Catamaran Bio in January The total number of SPL partners now stands at 23 Total cash, cash equivalents and short-term investments were $216 million as of June 30, 2023 Concentrate Douglas J. Swirsky appointed MaxCyte's Chief Financial Officer, bringing over two decades of experience in the healthcare sector, including as a public company executive at Nasdaq-listed organizations Published Inaugural ESG 2023 Summary Report in May ● ● 21 3 2888 4 Culture 5 Cryopreserve M MaxCyte 6 Thaw/Dose 2023 Guidance and 2023+ Outlook Core revenue for 2023 expected to be comparable to 2022 and SPL Program-related revenue expected to be approximately $6 million for the year Continue to launch new PAs to address customer needs around scale and build out in-house manufacturing capacity including automation Controlled launch of the VLx to develop use cases in applications and cell types Continue to build out capabilities to serve global commercial launches of therapeutic products enabled by MaxCyte Evaluate opportunities that are an expansion of the core technology including process analytics and product characterization © 2023 MaxCyte, Inc. All Rights Reserved#22M MaxCyte Ⓡ Thank you! Any questions? [email protected] © 2023 MaxCyte, Inc. All rights reserved. MaxCyte®, MaxCyte ATX®, MaxCyte GTⓇ, MaxCyte STX®, MaxCyte VLXⓇ, Flow Transfection®, Flow Electroporation®, expert®, AT&Ⓡ, STx® and GTⓇ, are registered trademarks of MaxCyte, Inc. MaxCyte GTXTM, MaxCyte STXTM, EXPERT ATXTM, EXPERT GTX™, EXPERT STX™M, EXPERT VLXTM, EXPERTTM, ATX™M, GTXTM, STXTM, VLxTM, and VLTM are trademarks of MaxCyte, Inc. 22 © 2023 MaxCyte, Inc. All Rights Reserved