#1Omni Ab OmniAb, Inc. Nasdaq: OABI May 11, 2023 MNM 010N 1010101 NOIOL Y H 010 101010 010#22 Disclaimer 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, the anticipated introduction of new technologies and innovations and enhancement of our technology stack, the continued innovation around and the expected performance of our technologies, the ability to add new partners and programs, 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:; 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, including adverse developments with respect to financial institutions and associated liquidity risk, may have serious adverse consequences on our business, financial condition and stock price; we may use our capital resources sooner than we expect; the anticipated benefits of our separation from Ligand Pharmaceuticals may not be achieved and costs and challenges in transitioning to becoming a stand-alone public company; 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#3Our Business LEVERAGING OUR PROPRIETARY DISCOVERY TECHNOLOGY PLATFORM WORLDWIDE Industry's Only 4-Species Platform Transgenic animals for fully human and bispecific antibody discovery O :: Leading and Proven Technology 70 partners have access to OmniAb antibodies 301 programs with 3 product approvals Sources: Clarivate Analytics Cortellis database. POISED FOR GROWTH TO MEET A GLOBAL INDUSTRY NEED One of the Largest Greenfields in the Pharma Industry $279 billion total addressable 11 market for antibodies by 2025 Innovation and Intelligent Expansion of Our Technology New technology launches in 2023 3 AI ML OmniAb#4Mission Our mission is to enable the rapid development of innovative therapeutics by pushing the frontiers of drug discovery technologies. OmniAb#5Antibodies and Industry Demand HIGHER CLINICAL SUCCESS RATES FOR ANTIBODY MEDICINES DRIVE OUR INDUSTRY'S NEED FOR DISCOVERY TECHNOLOGY Increasing Antibody Market ● $279B in antibody sales by 2025 (up from ~$238B in 2022) 51 blockbuster antibodies in 2022 5 best-selling antibodies had ~$75B of sales in 2022 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: Clarivate Analytics Cortellis database. 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. LO 5 OmniAb#6Growth of Partner Programs PROGRESSION AND PERFORMANCE IN PROGRAMS BY STAGE OF DEVELOPMENT 21 as of 2016(¹) Preclinical: 1 Discovery: 20 (1) Estimated at the time of acquisition of OMT, Inc. Phase 1: 20 Preclinical: 14 301 Active Programs as of 03/31/2023 Substantial progress in all phases, increase in discovery programs expected to feed growth in new clinical programs and future approvals Phase 2: 2 Phase 3: 2 Approved: 3 Discovery: 260 6 OmniAb#7Performance Indicators SIGNIFICANT GROWTH IN ACTIVE PARTNERS AND ACTIVE PROGRAMS • New license and revenue sharing agreement signed 70 in Q1 with Scripps ● ● Strong annual growth in key performance indicators continues, net of attrition Active Partners:(1)~18% CAGR 2016 through 2022 Active Programs:(2) ~25% CAGR 2016 through 2022 Metrics position our business for growth 60 50 40 30 20 10 0 Number of Active Partners 2016 2017 2018 2019 2020 2021 2022 3/31/2023 300 250 200 150 100 50 0 Number of Active Programs 2016 (1) Represents the unique number of partners that have an active program or have executed a license agreement in advance of initiating an active program. (2) Represents programs for which research work has commenced or an antigen is introduced into our animals and remains so as long as the program is actively being developed or commercialized. 2017 2018 2019 2020 2022 2021 7 3/31/2023 OmniAb#8Select 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 8 OmniAb#9Performance Indicators ACTIVE CLINICAL PROGRAMS AND APPROVED PRODUCTS ● ● New program entered the clinic in Q1 2023 SGN-BB228 (Seagen): Anti-CD228 x 4-1BB Anticalin Based on dialog with partners, we see potential for approximately 3-5 new entries into clinical development for novel OmniAb-derived antibodies in 2023 • Partner progression also showing the flexibility of our platform, with an increasing number of formats and modalities in clinical or preclinical development 30 25 20 15 10 5 0 2016 Number of Active Clinical Programs and Approved Products 2017 2018 2019 2020 2021 2022 3/31/2023 9 OmniAb#10Q1 2023 and Recent Updates SELECT RECENT DEVELOPMENTS SHOW CONTINUED PARTNER MOMENTUM FcRn ● Batoclimab ● ● HANALL HARBOUR BIOMED Ongoing studies in: BIOPHARMA . Myasthenia Gravis (P3) Thyroid Eye Disease (P3) Chronic Inflammatory IMMUNOVANT Reference: Partner and Company disclosures Demyelinating Polyneuropathy (P2b) Graves' Disease (P2) FcRn ● ● IMVT-1402 HANALL IMMUNOVANT BIOPHARMA Next-gen FcRn antagonist Immunovant expects SAD/MAD Phase 1 data in second half of 2023 CD228x4-1BB ● SGN-BB228 ● Seagen An investigational costimulatory bispecific molecule composed of a CD228-directed antibody and 4-1BB directed Anticalins Seagen announced Phase 1 study now enrolling in advanced melanoma and other solid tumors 10 OmniAb#11The OmniAb Platform LICENSES TO OUR TECHNOLOGY PLATFORM ARE STRUCTURED TO ALIGN ECONOMIC AND SCIENTIFIC INTERESTS WITH OUR PARTNERS Create Diverse Antibody Repertoires Create Diverse Repertoires 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 11 OmniAb#12The OmniAb Technology Offering Create Diverse Antibody Repertoires Screen Antibody Candidates Technologies Create Diverse Repertoires of High-Quality Naturally-Optimized Antibodies Computational Antigen Design & Proprietary Reagents SomniRat OmniChicken OmniMouse Robust Antibodies for Any Target OmniFlic OmniClic Bispecific Antibody Generation --B. OmniTaur™ Cow-inspired Antibodies for Difficult Targets Screen Millions of Cells to Find Potential Therapeutic Candidates xploration High-Throughput Single Cell Screening ● ● Identify the Right Antibody Custom Bioinformatics 000 000 000 Further Characterize, Select & Optimize the Right Antibody Next Generation Sequencing (NGS) Hit Expansion 000 ● Comprehensive Functional Characterization • Proprietary lon Channel Assays bo Gel Encapsulated Microenvironment (GEM) Single Cell Screening Technology offering addresses the most critical challenges of antibody discovery 12 OmniAb#13TM What 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 13 OmniAb#14The 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 Repertoires Screen Antibody Candidates Identify the Right Antibody We believe generating large and diverse repertoires 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 24 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 14 OmniAb#15Rodent Platforms ● ● ● Endogenous lg genes inactivated Expression of full human V gene diversity Streamlined conversion into fully human molecule Well-validated transgene design utilizes rodent constant regions for robust immune responses from the B-cell repertoire Geurts et al. Science 2009 Ménoret et al. Eur J Immunol 2010 Osborn et al. J. Immunol. 2013 VL mniRat OmniMouse Light chain loci CL Fully human LC VJ C + mRNA ţ ОЮП VDJ C VH Heavy chain locus DH JH EuCuCy1 Cy2b εα HHHHH▬▬▬▬▬▬▬ Rat constant Human V, D, J Easy conversion Human Antibody 15 OmniAb#16OmniChicken 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 16 OmniAb#17OmniTaur: Ultralong CDRH3s Create Novel Binding Domains UNIQUE STRUCTURAL FEATURES OF ULTRALONG H3 ANTIBODIES OmniTaur ● ● CDRH3 Human Cow Novel structure may enable targeting epitopes unreachable by standard antibodies Long H3 domains can be expressed on human VH framework, or alone as ~5kD Picobodies™ antigen glycans VL VH Knob Stalk CDR H3 Stanfield, et.al. Sci Adv (2020) 6(20): eaba0468. 17 OmniAb#18Common Light Chain Platforms for Bispecific Antibodies STANDARD IgG FORMAT TO DE-RISK DOWNSTREAM DEVELOPMENT* OmniFlic Rearranged IgVK3-15/JK1 JK2-5 0000- IgKC Rearranged human VK3-15 light chain combined with diversifying heavy chain +The Evolution of Bispecifc Antibodies, Nimish Gera https://doi.org/10.1080/14712598.2022.2040987 Bispecifics are a growing area of therapeutics (20% of mAbs in clinic) ~30% of new OmniAb programs seek to use OmniFlic or OmniClic OmniClic Simple reformatting from monospecific into bispecific for efficient production P Bispecific IgG IgVK3-15/JK1 "Germlining" human VK3-15 light chain combined with diversifying heavy chain Monospecific IgG 18 Common light chain for OmniFlic and OmniClic allows interchangeability between the platforms OmniAb#19Host 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 ● ● ● ● ● ● Create Diverse Antibody Repertoires ● Structural and immunological features Diverse V gene usage and mixed genetic backgrounds Diverse V gene usage and mixed genetic backgrounds Distinctive target recognition 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 19 OmniAb#20Screening 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 Repertoires 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 20 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#21The 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 Repertoires Screen Antibody Candidates of ||N| Identify the Right Antibody 21 OmniAb#22Ion Channels and Transporters WE HAVE EXTENSIVE BIOLOGICAL CAPABILITIES FOR ION CHANNELS AND TRANSPORTERS Proprietary cell lines enable high-speed antigen production Create Diverse Antibody Repertoires Create Diverse Repertoires of High-Quality Naturally Optimized Antibodies Screen Antibody Candidates Screen Millions of Cells to Find Potential Therapeutic Candidates Proprietary assays leveraged for discovery and characterization of 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 22 OmniAb#23Leveraging Biological Intelligence™ with Computational Tools Biological Intelligence OmniRat OmniChicken OmniMouse OmniTaur Omniflic OmniClic Model-aided optimization Differentiated sources of antibody sequences In silico developability Sequence databases and bioinformatics ● ● ● Sequence liability assessment Comparison to clinical antibodies • Structure-based calculations ● Antibody homology modeling Computational antibody optimization ● Customized cloud-based antibody sequence databases Large-scale repertoire analysis 23 OmniAb#24Launching OmniDeep at PEGS- Boston 19TH ANNUAL PEGS BOSTON CONFERENCE & EXPO 1:10 Wrangling Diverse OmniAb Antibody OmniAb Repertoires with OmniDeep Bob Chen, PhD, Sr. Director, Systems Engineering, OmniAb, Inc. We are presenting a showcase of discovering common light chain antibodies against a NK cell target. OmniDeep is a suite of in silico tools for antibody therapeutic discovery and optimization. Deep screening and high-throughput expression/characterization were used to seed information on top of NGS data sets. Our results demonstrate the power of this approach in corralling diverse OmniAb antibody repertoires and accelerating the development of effective therapeutics. OmniDeep OmniDeep is a suite of in silico tools for therapeutic discovery and optimization that are woven throughout OmniAb, Inc.'s various technologies and capabilities. These tools include structural modeling, large multi-species antibody databases, molecular dynamics simulations, Al, and machine and deep learning sequence models, and more. OmniDeep facilitates rapid identification of candidates with the right affinity, specificity, and developability profiles, to make drug development more effective and efficient. 24 OmniAb#25Active Programs by Antibody Source Technology Omniflic 26% OmniChicken 14% Significant diversity of source OmniClic 3% 3% OmniMouse OmniTaur OmniRat 54% As of 3/31/2023, Combination of sources allocated to contributing source used based on percentage of end therapeutic 25 OmniAb#26Diverse Formats and Modalities of Clinical Molecules THREE NEW FORMATS INTRODUCED TO CLINIC IN RECENT MONTHS Duobody Ⓡ (IgG4 exchange) IgG-scFv Fab-VHH (Knob-in-hole) YX ADAPTIR™ scFv-Fc-scFv IgG-Anticalin Ⓡ Fab-Fc/scFv-Fc-scFv XXX Duobody and Hexabody are registered trademarks of Genmab ADAPTIR is a trademark applied for by Aptevo Anticalin is a registered trademark of Pieris Pharmaceuticals IgG ADC 10% Multispecific (incl. T cell engager) 33% Monospecific 57% IgG HexaBody Ⓡ * 26 OmniAb#27Intellectual 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 27 OmniAb#28Business Model OUR AGREEMENTS ARE STRUCTURED TO ALIGN ECONOMIC AND SCIENTIFIC INTERESTS WITH OUR PARTNERS License partnerships designed to include: Upfront/Access fees Potential Collaboration/Service fees Milestones Royalties on commercial sales ● 28 OmniAb#29Illustrative 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 lon Channel Technology deal structures. Profile B 5 10 Clinical & Regulatory Milestones: ~$5M - $15M 15 20 Royalties: ~Mid Single Digits Potential IP Extension 25 29 OmniAb#30First Quarter 2023 Financial Results Q1 2023 $ 12.6 4.0 0.3 16.9 ($ Millions) License and milestone revenue Service revenue Royalty revenue Total revenues Research & development General & administrative Amortization of intangibles Other operating (income)/expense, net Total operating expenses Income/(loss) from operations Other income (expense) Income/(loss) before income taxes Income tax (expense) benefit Net income/(loss) Net income/(loss) per share, basic and diluted Shares used in diluted per share calculation 13.8 8.2 3.4 0.0 25.4 (8.5) 1.3 (7.1) 1.0 ($ 6.1) ($0.06) 99.2 Q1 2022 Table includes rounded figures. Please reference press release dated 5/11/23 for more detailed information. $ 4.1 5.3 0.3 9.6 10.8 4.1 3.4 (0.4) 17.8 (8.2) 0.0 (8.2) 1.9 ($ 6.3) ($0.08) 82.6 Variance $ 8.5 (1.3) 0.1 7.3 3.0 4.1 (0.0) 0.5 7.5 (0.2) 1.3 1.1 (0.9) $ 0.2 30 OmniAb#31Balance Sheet Summary March 31, 2023 in Millions ASSETS Current assets: Cash & investments Accounts receivable, net Other current assets Goodwill & intangible assets PPE & leases Other assets Total assets LIABILITIES AND STOCKHOLDERS' EQUITY A/P & accrued exp Contingent liabilities Deferred revenue Operating lease liabilities Deferred income taxes, net Other Liabilities Stockholders' equity: Total liabilities and stockholders' equity $ 113.6 1.8 5.7 248.3 40.3 3.3 $ 413.0 $9.9 6.2 9.9 25.9 20.4 0.0 340.8 $ 413.0 December 31, 2022 $ 88.3 30.3 6.4 251.2 41.5 3.6 $ 421.2 $ 12.0 8.1 12.5 25.8 21.3 0.0 341.4 $ 421.2 Business is close to break-even cash flow 31 Expect to end 2023 with slightly more cash than 12/31/22 cash balance Current cash balance and cash from operations expected to provide sufficient capital to fund operations for foreseeable future OmniAb#32Quarterly Results ($ Millions) License and milestone revenue Service revenue Royalty revenue Total revenues Research & development General & administrative Amortization of intangibles Other operating (income)/expense, net Total operating expenses Income/(loss) from operations Other income (expense) Income/(loss) before income taxes Income tax (expense) benefit Net income/(loss) Table includes rounded figures. Q1 '22 Ś 4.1 5.3 0.3 9.6 10.8 4.1 3.4 (0.4) 17.8 (8.2) 0.0 (8.2) 1.9 ($ 6.3) Q2 '22 $ 2.3 4.7 0.1 7.2 11.5 5.0 3.1 0.2 19.8 (12.6) 0.0 (12.6) 2.3 ($ 10.3) Q3 '22 $ 1.4 4.9 0.6 6.9 13.2 5.6 3.3 (0.2) 21.8 (14.9) 0.0 (14.9) 2.3 ($ 12.6) Q4 '22 $ 31.1 3.9 0.4 35.3 12.9 10.2 3.3 (0.1) 26.3 9.0 0.6 9.6 (2.8) $ 6.8 Q1 '23 $ 12.6 4.0 0.3 16.9 13.8 8.2 3.4 0.0 25.4 (8.5) 1.3 (7.1) 1.0 ($ 6.1) 32 OmniAb#33FY 2022 Financial Results ($ Millions) License and milestone revenue Service revenue Royalty revenue Total revenues Research & development General & administrative Amortization of intangibles Other operating (income)/expense, net Total operating expenses Income/(loss) from operations Other income (expense) Income/(loss) before income taxes Income tax (expense) benefit Net income/(loss) Net income/(loss) per share, basic and diluted Weighted average shares outstanding $ FY21 Ś 14.7 20.1 0.0 34.7 39.2 16.9 13.0 1.2 70.4 (35.6) 1.3 (34.4) 7.3 ($ 27.0) (0.33) 82.6 FY22 $38.9 18.8 1.4 59.1 48.4 24.9 13.0 (0.6) 85.7 (26.6) 0.6 (26.1) 3.7 ($ 22.3) $ (0.26) 85.3 Table includes rounded figures. Please reference press release dated 3/30/23 for more detailed information. Variance $ 24.3 (1.3) 1.4 24.3 9.1 8.0 0.1 (1.8) 15.4 9.0 (0.7) 8.3 (3.6) $ 4.7 33 OmniAb#34Share Information - as of 3/31/23 (in millions) Basic Share Count Total Earnout Shares RSU/Options/Warrants Employee Unvested RSU/PS Employee Options Public/Private Warrants Total RSU/Options/Warrants Total Potential Shares 99.3 16.3 1.7 18.7 19.0 39.5 155.0 Basic Shares - Common Shares Outstanding/Public Float Earnout Shares - 50% vest at $12.50, 50% vest at $15.00 - VWAP of stock for 20 out of 30 consecutive - trading days at each respective level for vesting to occur Expire 11/1/27 Warrants Expire 11/1/27, $11.50 strike price 34 OmniAb#35Matt 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 2022 Nobel Laureate Board Member Alnylam Former Board Member Eli Lilly, Founder of multiple companies S&T Chair, 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, S&T 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 armaceuticals 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, S&T 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 35 Doug Krafte, PhD SVP, Ion Channels Former Exec at Icagen Inc., 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#36Our 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 Team: Strong culture; hire, develop, motivate the best Expanding the Reach of our Platform A FOCUS ON KEY STAKEHOLDERS IS AT OUR FOUNDATION 8 8 $8 Fu Partners: Focus on customer service and future needs \/ > Investors: Superior business execution to create value New Technology Development Incl. new animal and computational innovations Community: Lead with integrity and responsibility 36 OmniAb#37Omni Ab For more information, please visit www.omniab.com#38OmniAb's History CUTTING-EDGE PLATFORM BUILT FROM >15 YEARS OF INVESTMENT AND STRATEGIC ACQUISITIONS 2008 OMT, Inc. Founded Acquired OMT Development of OmniRat/OmniFlic/OmniMouse & 16 partnerships signed OmniRat OmniMouse Omniflic ● 2016 ● ● 2017 Acquired Crystal Bioscience OmniChicken 2018 Acquired Ab Initio (Computationally-Powered Antigen Design) 2019 Acquired Icagen Intelligent Expansion, Internal Investment and R&D Next-generation animals (Bispecifics, Heavy-Chain, etc.) Expanded state-of-the-art labs and facilities and added capacity Al-powered single-cell microcapillary and in silico platform expansion ICAGEN ION CHANNEL TECHNOLOGY Acquired xCella xploration® Strategically built tech platform to optimally harness the power of Biological Intelligence™ 38 2020 Acquired Taurus OmniTaur™ OmniAb#39Approved and Clinical-Stage Partner Pipeline as of 03/31/2023 THREE APPROVED PRODUCTS AND 24 ACTIVE CLINICAL-STAGE ANTIBODIES Target Source Animal OmniRat OmniRat Therapy Area Oncology Oncology OmniRat Oncology OmniRat Immunology OmniRat Oncology Oncology OmniRat OmniRat OmniMouse Oncology Oncology Oncology OmniRat OmniRat Oncology OmniRat Oncology OmniRat Oncology OmniRat Oncology OmniRat Oncology OmniRat Oncology OmniFlic Oncology OmniFlic Oncology OmniFlic Oncology OmniRat Metabolic OmniRat OmniRat OmniChicken Partner Program gloria ARCUS GILEAD Zimberelimab BIOSCIENCE 1381 HANALL'>< 基石药业 CSTONE Janssen Jehon HARBOUR IMMUNOVANT BIONED Genentech A Member of the Roche Group Genmab BIONTECH Merck Aptevo Janssen Pfizer Janssen tehen *...* Genmab OCTTQ symphogen a Servier Company symphogen a Servier Company symphogen a Serviar Company abbvie AstraZeneca AMGEN SalubrisBio CURON Zhilkang Hongyi Boehringer Undisclosed Merck Genmab BIONTECH Janssen Sugemalimab Teclistamab Batoclimab Tiragolumab GEN1046 M6223 APVO436 JNJ-70218902 JNJ-78306358 GEN1047 S095017 S095018 S095024 S095029 ABBV-383 TNB-486 AMG 340 SAL003 CN1 Undisclosed Undisclosed Undisclosed M9140 GEN1053 JNJ-79635322 SGEN-BB228 OmniRat OmniRat OmniRat OmniRat OmniRat PD-1 PD-L1 BCMA x CD3 FcRn TIGIT PD-L1 x 4-1BB TIGIT CD123 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 Gastrointestinal Undisclosed CEACAM-5 CD27 Oncology Oncology Undisclosed Oncology Oncology Oncology Oncology Phase 1 Phase 2 Phase 3 Registration Approved Undisclosed Seagen CD228 x 4-1BB 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 and marketed in China. Teclistamab is approved and marketed in the US and EU with $35M launch milestones paid. Indicates program with fully paid license from OMT, Inc. prior to acquisition. Programs discovered by Teneobio under a fully paid license. Future programs discovered under license agreement are subject to downstream economics. 39 OmniAb