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Investor Presentaiton

IBI-322 (PD-L1/CD47): A First-in-Class Anti-PD-L1/CD47 Bispecific Antibody IBI-322 Differentiated Advantages Manageable safety profiles with reduced CD47 binding on RBC to mitigate anemia AE and decreased RBC phagocytosis due to weak CD47 blockade activity • Improved DMPK profiles with reduced peripheral CD47 mediated sink effect and Optimized biodistribution and enhanced PD-L1+ tumor uptake Pre-clinical Highlights 20 1. CD47+, PD-L1+ tumor cells were subcutaneously implanted in MC38 tumor-bearing mice with CD47 knock-in • Clinical Highlights Modified Fibonacci method was used in the dose escalation design of all studies at present for the ongoing Phase 1 trial. DLT were not observed in all dose groups Incidence and degree of anemia were low. Preliminary antitumor activity has been observed. IBI-322 Development Program Overview • China US Started patient enrolment in Phase 1a/1b in advanced malignancies in 2H 2020 Started patient enrolment in Phase 1a in advanced malignancies in Feb 2021 Plan to publish preliminary Phase 1a study for advanced malignancies at academic conference Clinical progress 2. 89Zr-labeled IBI322, anti-CD47 mAb and anti-PD-L1 mAb were administrated intravenously at 0.5mg/kg After 24h of scanning, IBI322 was found to be highly distributed in CD47+ PD-L1+ subcutaneous tumor tissues, which proved IBI322 had a strong targeting ability 2021 plan • Plan to enter Phase 1b trial in China and get preliminary PoC data CD47/PDL1 CD47" PDL1* 89Zr" 0 %ID/g 89Zr-DFO# Innovent First clinical stage PD-L1/CD47 bispecific under global development; Phase 1 trials ongoing in China and US. Preliminary promising tolerability, safety and anti-tumor activity observed. Confidential Copyright©2021 Innovent Biologics 25 25
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