#1Omni Ab OmniAb, Inc. Nasdaq: OABI Stifel Healthcare Conference New York, NY November 15-16, 2022 MNM 010N 1010101 NOIOL Y H 010 101010 010#2Disclaimer 2 We caution you that this presentation contains forward-looking statements. All statements other than statements of historical facts contained in this presentation, including statements regarding our future results of operations and financial position, expected cash runway, business strategy, our expectations regarding the application of, and the rate and degree of market acceptance of, our technology platform and other technologies, our expectations regarding the addressable markets for our technologies, including the growth rate of the markets in which we operate, the timing of the initiation or completion of preclinical studies and clinical trials by our partners, expectations regarding product approvals and potential for future revenue growth, launches by our partners and the timing thereof, and the potential for and timing of receipt of milestones and royalties under our license agreements with partners, are forward-looking statements. In some cases, you can identify forward-looking statements by terms such as "may," "will," "should," "expect," "plan," "anticipate," "could," "intend," "target," "project," "contemplates," "believes," "estimates," "predicts," "potential" or "continue" or the negative of these terms or other similar expressions. The inclusion of forward-looking statements should not be regarded as a representation by us that any of our plans will be achieved. Actual results may differ from those set forth in this presentation due to the risks and uncertainties inherent in our business, including, without limitation: the anticipated benefits of our separation from Ligand may not be achieved; our future success is dependent on acceptance of our technology platform by new and existing partners, as well as on the eventual development, approval and commercialization of products developed by our partners for which we have no control over the development plan, regulatory strategy or commercialization efforts; biopharmaceutical development is inherently uncertain, risks arising from changes in technology; the competitive environment in the life sciences and biotechnology platform market; our failure to maintain, protect and defend our intellectual property rights; difficulties with performance of third parties we will rely on for our business; regulatory developments in the United States and foreign countries; unstable market and economic conditions may have serious adverse consequences on our business, financial condition and stock price; we may use our capital resources sooner than we expect; and other risks described in our press releases and filings with the SEC. You are cautioned not to place undue reliance on these forward- looking statements, which speak only as of the date made, and except as required by applicable law, we do not plan to publicly update or revise any forward-looking statements contained herein, whether as a result of any new information, future events, changed circumstances or otherwise. All forward-looking statements are qualified in their entirety by this cautionary statement, which is made under the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Information regarding partnered products and programs comes from information publicly released by our partners. This presentation also contains estimates and other statistical data made by independent parties and by us relating to market size and growth and other data about the antibody industry. This data involves a number of assumptions and limitations, and you are cautioned not to give undue weight to such estimates. In addition, projections, assumptions, and estimates of our future performance and the future performance of the markets in which we operate are necessarily subject to a high degree of uncertainty and risk. OmniAb#3OmniAb, Inc. OUR BUSINESS MODEL IS FOCUSED ON LICENSING OUR PROPRIETARY DISCOVERY TECHNOLOGY ONE OF THE LARGEST GREENFIELDS IN THE PHARMA INDUSTRY $236 BILLION TOTAL ADDRESSABLE MARKET FOR ANTIBODIES BY 2025 LEADING AND PROVEN TECHNOLOGY GROWING ROSTER OF PARTNERS GROWING NUMBER OF PROGRAMS RECENT PRODUCT APPROVALS GLOBALLY-RECOGNIZED SCIENCE AND TEAM HISTORY OF FIRSTS IN GENETIC ENGINEERING EXPANDING TECHNOLOGY AND CAPABILITIES WE ARE MEETING A GLOBAL INDUSTRY NEED, POISED FOR GROWTH 3 OmniAb#4Mission Our mission is to enable the rapid development of innovative therapeutics by pushing the frontiers of drug discovery technologies. OmniAb#5The OmniAb Platform LICENSES TO OUR TECHNOLOGY PLATFORM ARE STRUCTURED TO ALIGN ECONOMIC AND SCIENTIFIC INTERESTS WITH OUR PARTNERS Create Diverse Antibody Pools Create Diverse Pools of High-Quality Naturally-Optimized Antibodies Screen Antibody Candidates Screen Millions of Cells to Find Potential Therapeutic Candidates Technology offering addresses critical industry needs and is paired with our highly specialized and efficient operations Identify the Right Antibody Further Characterize, Select & Optimize the Right Antibody We leverage our proprietary and differentiated technologies, rather than commoditized industry services that are widely available from CROS or built into big pharma LO 5 OmniAb#6Antibodies and Industry Demand HIGHER SUCCESS RATES FOR ANTIBODY MEDICINES DRIVE OUR INDUSTRY'S NEED FOR DISCOVERY TECHNOLOGY Increasing Antibody Market $236B in antibody sales by 2025 (up from ~$212B in 2021) • 49 blockbuster antibodies in 2021 (up from 41 in 2020) 5 best-selling antibodies had ~$66B of sales in 2021 ● Higher Success Rates Type of Drug Small Molecules Antibodies Clinical Success Rates (1) 7.5% 12.1% Historical success rates for antibodies are significantly higher than small molecules Acceleration of Regulatory Approvals (FDA and EMA) 70 60 50 40 30 20 10 0 Substantial growth in number of new antibody therapeutics Pre-2000 2001-2010 2011-2020 Sources: 2021 Sales of Recombinant Therapeutic Antibodies, Proteins, Biosimilars & Other Biologics (La Merie Publishing). Tables of approved mAbs and antibodies in review available at https://www.antibodysociety.org/resources/approved-antibodies/ (1) Defined as composite success rate of clinical development from Phase I trials to Approval, data from 2011-2020. Source: BIO | QLS Advisors | Informa Feb 2021 Report. 6 OmniAb#7The OmniAb Platform Technologies Create Diverse Antibody Pools Create Diverse Pools of High-Quality Naturally-Optimized Antibodies Computational Antigen Design & Proprietary Reagents OmniRat OmniChicken' mniMouse Robust Antibodies for Any Target Omniflic OmniClic Bispecific Antibody Generation OmniTaur™ Cow-inspired Antibodies for Difficult Targets Screen Antibody Candidates Screen Millions of Cells to Find Potential Therapeutic Candidates xploration High-Throughput Single Cell Screening 000 ● Custom Bioinformatics 000 Identify the Right Antibody • Next Generation Sequencing (NGS) Hit Expansion 000 Further Characterize, Select & Optimize the Right Antibody 000 ● N Comprehensive Functional Characterization Proprietary lon Channel Assays Gel Encapsulated Microenvironment (GEM) Single Cell Screening Technology offering addresses the most critical challenges of antibody discovery 7 OmniAb#8What is Biological Intelligence ™M? ● We believe that antibodies generated in vivo are superior to ones from other sources because they are naturally optimized through an iterative process that preferentially selects for antibodies with excellent specificity and developability profiles The ability of the immune system in our engineered transgenic animals to create optimized antibodies for human therapeutics is what we call Biological Intelligence • We believe this approach increases the efficiency and probability of success of therapeutic antibody discovery and may help limit the attrition of antibody product candidates in the clinic 8 OmniAb#9The OmniAb Platform Antibody Generation Technologies Computational Antigen Design & Proprietary Reagents Emnikat EmniMou OmniChicken Antibodies for Any Target Omniflic OmniClic OmniTaur Bispecific Antibody Cow-inspired Antibodies for Difficult Targets Generation Create Diverse Antibody Pools Screen Antibody Candidates Identify the Right Antibody We believe generating large and diverse pools of high-quality antibodies increases the likelihood of discovering the antibody with the most desirable therapeutic characteristics Industry's only 4-species platform 3 approved and 22 active clinical-stage antibodies A rich heritage of genetic engineering advancements Carefully designed transgenes for robust response Bispecific and cow-inspired technologies enable next-generation therapeutics 9 OmniAb#10OmniChicken POWERED BY EVOLUTION PRIMORDIAL TARGET GENE GREATER EVOLUTIONARY DISTANCE YIELDS GREATER IMMUNOGENICITY AND MORE ANTIBODY DIVERSITY 300 MILLION YEARS 95 MILLION YEARS OmniChicken ลูก HUMAN ORTHOLOGUE MURINE ORTHOLOGUE CHICKEN ORTHOLOGUE 10 OmniAb#11Host Antibody Repertoires NUMEROUS OPTIONS AVAILABLE TO ADDRESS DIVERSE PARTNER OBJECTIVES OmniMouse OmniRat niR OmniChicken OmniFlic OmniClic OmniTaur ● ● ● ● ● ● ● ● ● ● ● V genes Full human V gene diversity Choice of light chain isotype Full human V gene diversity Choice of light chain isotype Single framework VH3/VK3 or VH3/VL1 Full human VH gene diversity with non-diversifying VK3 Single framework VH3/non-diversifying VK3 Single framework VH4/VL1 ● ● Structural and immunological features Diverse V gene usage and mixed genetic backgrounds Diverse V gene usage and mixed genetic backgrounds Distinctive target recognition Create Diverse Antibody Pools Evolutionarily divergent host system for robust immune responses Fixed light chain for bispecific applications • Fixed light chain for bispecific applications Ultralong CDR-H3's for enormous structural diversity ● ● ● ● ● ● ● ● ● ● Screen Antibody Candidates ● Identify the Right Antibody Benefits for therapeutics discovery and development Widely accessible and flexible workflows Industry standard Widely accessible and flexible workflows Extensive track record Diverse and new epitope coverage High homology targets Excellent physical properties Bispecific applications leveraging standard IgG format Diverse epitope coverage Excellent physical properties Ease of manufacturing Access cryptic epitopes Unique modalities (Picobodies™M) Building blocks for multispecific molecules 11 OmniAb#12Screening Platforms Hybridoma Workflow B-cell Workflow Immunization Isolate B-cells enrichment optional ******* Fusion xPloration ooooo 00000 00 00 00000 00000 00000 00000 0000 Screen Omni Create Diverse Antibody Pools Expression Screen Antibody Candidates Validation Identify the Right Antibody nh ATGCTAGCAGT Sequence Single-cell NGS ******* MUA Technologies enable screening against difficult targets: GPCRs, ion channels and surface antigens Bioinformatics 12 Our powerful single B-cell screening technologies, xploration and GEM assay, bypass bottlenecks of hybridoma workflows Al-driven multi-parameter screening of tens of millions of cells in hours instead of weeks OmniAb#13The OmniAb Platform Our discovery teams are flexibly positioned to work closely with partners to identify the right antibody Data from multi-parameter screening and performance assays used in combination with bioinformatics • NGS hit expansion to identify variant antibodies with improved characteristics ● High-throughput epitope binning and kinetics analysis, and target-specific functional assays Proprietary assays for ion channel and transporter targets Create Diverse Antibody Pools Screen Antibody Candidates of ||N| Identify the Right Antibody 13 OmniAb#14Ion Channels and Transporters WE HAVE EXTENSIVE BIOLOGICAL CAPABILITIES FOR ION CHANNELS AND TRANSPORTERS Proprietary cell lines enable high-speed antigen production Create Diverse Antibody Pools Create Diverse Pools of High-Quality Naturally Optimized Antibodies Screen Antibody Candidates Proprietary assays leveraged for discovery and characterization of Screen Millions of Cells to Find Potential Therapeutic Candidates Cutting-edge assays facilitate high-throughput screens in our GEM and xploration platforms antibodies Identify the Right Antibody Further Characterize, Select & Optimize the Right Antibody Within OmniAb, Inc. are differentiated capabilities for viable target-to-lead delivery for difficult and high-value ion channel and transporter targets 14 OmniAb#15Growth of Partner Programs PROGRESSION AND PERFORMANCE IN PROGRAMS BY STAGE OF DEVELOPMENT 21 as of 2016(¹) Preclinical: 1 Discovery: 20 Preclinical: 12 282 as of 09/30/22(²) Phase 1: 18 Phase 2: 2 Substantial progress in all phases, increase in discovery programs expected to feed growth in new clinical programs and future approvals Phase 3: 2 (1) Estimated at the time of acquisition of OMT (2) In August 2022, our partner Jansen received marketing approval in the EU for teclistamab; and in October of 2022, Janssen received accelerated approval for teclistamab by the US FDA Approved: 3 Discovery: 245 15 OmniAb#16Diverse Drug Formats and Modalities PRECLINICAL AND CLINICAL OMNIAB MOLECULES IgG Fab-Heavy chain (Knob-in-hole) FORMATS Duobody Ⓡ (IgG4 exchange) IgG-scFv ADAPTIR™M scFv-Fc-scFv Antibody-Drug Conjugate Bispecific (incl. T cell engager) 37% MODALITIES ADC 6% Variety in the formats and modalities used by partners demonstrating the flexibility of our platform Monoclonal IgG 57% 16 OmniAb#17Select OmniAb Partners >65 COMPANIES CURRENTLY HAVE ACCESS TO OMNIAB ANTIBODIES AMGEN Genmab Merck Seagen® Aptevo™ Therapeutics GigaGen A Grifols Company ONO ONO PHARMACEUTICAL CO.,LTD. Ysym symphogen a Servier Company Boehringer Ingelheim BIOSCIENCES 誉衡生物 2Pfizer Takeda B 基石药业 CSTONE PHARMACEUTICALS Janssen sanofi Wuxi Biologics Global Solution Provider 17 OmniAb#18Key Performance Indicators TECHNOLOGY AND BUSINESS MODEL ARE HIGHLY SCALABLE ● Strong annual growth in key performance indicators continues Active Partners:(1) >30% CAGR 2014 through 2021 Active Programs:(2) >25% CAGR 2016 through 2021 Year-to-date numbers (as of 9/30/22) position our business for strong annual growth 70 60 50 40 30 20 10 0 Number of Active Partners 2014 2015 2016 2017 2018 2019 2020 2021 30-Sep-22 300 250 200 150 100 50 0 Number of Active Programs * * 2014 2015 2016 2017 (1) Represents the unique number of partners with whom we have active license agreements or who have an active program. (2) Represents programs for which an antigen is introduced into our animals and remains so as long as the program is actively being developed or commercialized. Active Programs not tracked prior to acquisition of Open Monoclonal Technology, Inc. in January 2016. * 2018 2019 2020 2021 30-Sep-22 25 20 15 10 5 Number of Active Clinical Programs and Approved Products 2014 2015 2016 2017 2018 2019 2020 2021 30-Sep-22 18 OmniAb#19Approved and Clinical-Stage Partner Pipeline NOW WITH THREE APPROVED PRODUCTS AND 22 ACTIVE CLINICAL-STAGE ANTIBODIES Program gloria ARCUS Zimberelimab BIOSCIENCES Partner Janssen gehason Jame Genentech* A Member of the Rache Group 基石药业 CSTONE PHARMACEUTICALS HANALLHARBOUR IMMUNOVANT BIONED Genmab MERCK Aptevo Janssen (chmen-dem Janssen toh Janssen b Genmab symphogen Servier Company symphogen a Servier Company symphogen a Servier Company symphogen a Servier Company abbvie + AstraZeneca AMGEN + SalubrisBio CURON Zhilkang Hongyi Boehringer Ingelheim Undisclosed Merck Sugemalimab Teclistamab Tiragolumab Batoclimab GEN1046 M6223 APVO436 JNJ-67371244 JNJ-70218902 JNJ-78306358 GEN1047 S095017 S095018 S095024 S095029 TNB-383B TNB-486 AMG 340 SAL003 CN1 Undisclosed Undisclosed Undisclosed M9140 Source Animal OmniRat OmniRat OmniRat OmniRat OmniRat OmniRat OmniRat OmniMouse OmniMouse OmniRat OmniRat OmniRat OmniRat OmniRat OmniRat OmniRat OmniFlic OmniFlic OmniFlic OmniRat OmniRat OmniRat OmniChicken OmniRat OmniRat Therapy Area Oncology Oncology Oncology Oncology Immunology Oncology Oncology Oncology Oncology Oncology Oncology Oncology Oncology Oncology Oncology Oncology Oncology Oncology Oncology Metabolic Oncology Oncology Undisclosed Gastrointestinal Oncology Target PD-1 PD-L1 BCMA x CD3 TIGIT FcRn PD-L1 x 4-1BB TIGIT CD123 x CD3 CD33 x CD3 Undisclosed HLA-G x CD3 B7H4 x CD3 LAG-3 TIM-3 CD73 NKG2A BCMA x CD3 CD19 x CD3 PSMA x CD3 PCSK9 Undisclosed Undisclosed Undisclosed Undisclosed CEACAM-5 Preclinical Phase 1 Phase 2 Animal launch year: OmniRat 2012; OmniMouse 2014; OmniFlic 2014; OmniChicken 2016; OmniClic 2019; OmniTaur 2020 Notes: Most advanced status for each program shown. Zimberelimab and Sugemalimab are approved in China. Phase 3 * Indicates programs with fully paid licenses. + Programs discovered by Teneobio under a fully paid license. Future programs discovered under license agreement are subject to downstream economics. Registration Approved 19 OmniAb#20Intellectual Property Advantage PARTNERS FILING PATENTS ON OMNIAB-DERIVED ANTIBODIES CAN CREATE DIVERSE AND DURABLE ROYALTY STREAMS AND A LENGTHY IP TAIL Over 300 patents issued worldwide ● • We maintain a broad intellectual property estate with multiple long duration patent families covering each major element of our technology platform • Licenses are structured so that royalties are linked to the patents for the antibodies discovered with OmniAb, thereby creating a lengthy coverage tail >65 patent filings by our partners claiming an OmniAb-derived antibody as primary invention, with expiries up to 2041 Antibody Patent Applications Filed by Partners 70 60 50 40 30 20 10 0 2014 2015 2016 2017 2018 Patents include: WO2015167293A1, WO2017020291A1, WO2017024515A1, WO2017024146A1, WO2017031104A1, WO2017053748A2, WO2017059196A2, WO2017059243A2, WO2017079121A2, WO2017178493A1, WO2017192567A1, WO2017223111A1, WO2018054241A1, US20180105600A1, WO2018057802 A1, WO2018069500A2, WO2018091661A1, WO2018095932A1, WO2018119016A1, WO2018119246A1, WO2018162749A1, WO2019094265A1, WO2019158645A1, WO2019164891A1, WO2019165982A1, WO2019179391A1, WO2019179422A1, WO2019196868A1, WO2019202041A1, WO2019214624A1, WO2019220368A1, WO2019224711A2, WO2019224713A2, WO2019224717A2, WO2020028479A1, WO2020093023A1, WO2020093024A2, WO20200970099A1, WO2020119719A1, WO2021194481A1, WO2020206251A1, WO2020202097A1, US10968280B2, WO2021019386A1,WO2021030488A1, WO2021044005A1, WO2021059075A1, WO2021078219A1, WO2021092196A9, WO2021089704A1,. WO2021093764A1, WO2021093849A1, WO2021101975A1, WO2021102173A1, WO2021140222A1, WO2021154761A1, WO2021156326A1, WO2021171257A1, WO2021181366A1, WO2021185934A1, WO2021205361A1, WO2021209495A1, US20210363273A1, WO2022024024A2, WO2022048883A1, WO2022037662A1, WO2022121966A1 2019 2020 2021 20 OmniAb#21Business Model OUR AGREEMENTS ARE STRUCTURED TO ALIGN ECONOMIC AND SCIENTIFIC INTERESTS WITH OUR PARTNERS License partnerships designed to include: Upfront and collaboration/access fees Milestones Royalties on commercial sales 21 OmniAb#22Illustrative Antibody Deal Structure Profile A Year 0 Collaboration/ Access Fees: ~$1M - $2M 5 10 Clinical & Regulatory Milestones: ~$10M - $20M 15 20 Royalties: ~Low Single Digits Potential IP Extension 25 Year 0 Collaboration/ Access Fees: ~$100k $500k Notes: Deal Economics have evolved over time. Unique deal structures may also be used (e.g., equity stakes, risk-sharing, buy-in options, etc.). Not representative of Icagen ion channel technology deal structures. Profile B 5 10 Clinical & Regulatory Milestones: ~$5M - $15M 15 20 Royalties: ~Mid Single Digits Potential IP Extension 25 22 OmniAb#23Cash Position Provides Long Operational Runway ($ millions) Gross Cash Proceeds Underwriting/Transaction/Other Fees Net Cash Shares Outstanding Shares Outstanding includes earnout shares, but excludes OmniAb options, RSUS, PSUs and APAC warrants $130 ~$35 ~$95 114.8 million BUSINESS IS CLOSE TO BREAK-EVEN CASH FLOW RECENT TRANSACTION PROVIDES SUFFICIENT CAPITAL TO FUND OPERATIONS FOR FORESEEABLE FUTURE 23 OmniAb#24Matt Foehr Chief Executive Officer Board Member Viking Therapeutics Former Exec at Ligand Pharmaceuticals, GlaxoSmithKline, Stiefel Labs, Connetics Corp. Carolyn Bertozzi, PhD Professor of Humanities & Sciences Stanford University Investigator HHMRI Nobel Laureate Former Board Member Eli Lilly, Advisor to GlaxoSmithKline Founder of Multiple Companies Nom/Gov Kurt Gustafson Chief Financial Officer Board Member Xencor, Inc Former CFO/Exec at Spectrum Pharmaceuticals, Halozyme Therapeutics, Amgen Sarah Boyce CEO, Avidity Former Akcea Therapeutics, lonis Pharmaceuticals, Forest Labs HC&C Chair Charles Berkman Chief Legal Officer Former General Counsel Bill Harriman, PhD SVP, Antibody Discovery Co-Founder/CSO, Crystal Bioscience Trellis, Roche, Abgenix UCSF-Immunology, Haas MBA Board of Directors at Ligand Pharmaceuticals, Attorney at Baker & McKenzie, Lyon & Lyon Management Jennifer Cochran, PhD Professor of Bioengineering Stanford University Founder of multiple companies, including xCella Biosciences Nom/Gov Chair, AC Christel Iffland, PhD SVP, Antibody Technologies Former Associate Director at Merck KGaA / EMD Serono, Co-inventor of Avelumab Dana Farber, Albert Einstein College John Higgins OmniAb, Inc. Board Chair CEO and Board Member, Ligand Pharmaceuticals Former CFO, Connetics Corp. Board Member Bio-Techne HC&C Sunil Patel Public & Private Biotech Executive Former Abgenix, Gilead, BiPar and OncoMed AC Chair, HC&C Marie-Cecile Van De Lavoir, PhD, DVM SVP, Technical Operations & Genetics Co-Founder/COO, Crystal Bioscience Origen Therapeutics, Inventor Germ Cell Technology Fulbright Scholar, UCSF, Utrecht, Guelph, Cornell Josh Tamaroff Partner, Avista Capital Partners Barclays Capital Lehman Brothers AC, Nom/Gov 24 Doug Krafte, PhD SVP, Ion Channels Former Exec at Icagen, Pfizer Pain & Sensory Disorders, Boehringer Ingelheim, Aurora Biosciences Univ. Rochester, Vanderbilt Matt Foehr Chief Executive Officer Board Member Viking Therapeutics Former Exec at Ligand Pharmaceuticals, GlaxoSmithKline, Stiefel Labs, Connetics Corp. OmniAb#25Our Key Areas of Focus Going Forward WE BELIEVE WE ARE WELL-POSITIONED FOR FUTURE GROWTH WHILE WE MAKE AN ENDURING AND SIGNIFICANT IMPACT ON THE INDUSTRY AND GLOBAL HUMAN HEALTH WE LEVERAGE A HIGHLY SCALABLE BUSINESS WHERE INVESTMENTS IN TECHNOLOGIES AND INNOVATION ARE INFORMED BY DISCOVERY RELATIONSHIPS WITH OUR PARTNERS Partnered Pipeline Development, Expansion and Advancement Continued Workflow Versatility Initiatives Expanding the Reach of our Platform New Technology Development Incl. new animal and computational innovations A FOCUS ON KEY STAKEHOLDERS IS AT OUR FOUNDATION 181 8 $8 Team: Strong culture; hire, develop, motivate the best Partners: Focus on customer service and future needs Investors: Superior business execution to create value G Community: Lead with integrity and responsibility 25 OmniAb#26OmniAb, Inc. Summary ● ● ● Demand for antibody-based approaches drives the industry's need for cutting-edge discovery technologies We maintain a highly scalable business where investments in and extensions of our differentiated technology are informed by a deep portfolio of partnerships Our partner pipeline is progressing and expanding Recent transaction creates robust financial position that fully funds operations, creates an opportunity to unlock value, and positions the business for future growth 26 OmniAb#27Omni Ab For more information, please visit www.omniab.com