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ALAMAR BIOSCIENCES Q2 2026 Earnings Presentation August 10 , 2026 © 2026 Alamar Biosciences , Inc.
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©2026 Alamar Biosciences, Inc. 2 ©2026 Alamar Biosciences, Inc. 2 Disclaimers Certain information contained in this presentation relates to or is based on studies, publications, surveys, and other data obtained from third-party sources and the internal estimates and research of Alamar Biosciences, Inc. (the “Company,” “Alamar,” “we,” “us,” or “our”). While the Company believes these third-party sources to be reliable as of the date of this presentation, it has not independently verified, and makes no representation as to the adequacy, fairness, accuracy, or completeness of any information. This presentation discusses products have not yet been approved for clinical use by the U.S. Food and Drug Administration (the “FDA”). This presentation contains trademarks, service marks, trade names and copyrights of Alamar and other companies which are the property of their respective owners. Alamar’s products are for research use only. FORWARD LOOKING STATEMENTS This presentation contains forward-looking statements. In some cases, you can identify forward-looking statements by the following words: “anticipate,” “believe,” “continue,” “could,” “estimate,” “expect,” “intend,” “may,” “ongoing,” “plan,” “potential,” “predict,” “project,” “should,” “will,” “would” or the negative of these terms or other comparable terminology, although not all forward-looking statements contain these words. Such statements are based upon current plans, estimates and expectations of management in light of historical results and trends, current conditions and potential future developments, and are subject to various risks and uncertainties that could cause actual results to materially differ from such statements. All statements other than statements of historical facts contained in this presentation, including statements regarding our estimates for the full year 2026, our financial outlook, our growth strategy and business priorities, our expected operations, the features, performance, capabilities, uses, opportunities, growth drivers and adoption of current and potential future solutions as well as product roadmap, expected development directions, timing of regulatory submissions and expected release of potential products, market and category leadership position, key priorities for growth in 2026 and beyond, and market opportunity are forward-looking statements. These statements involve known and unknown risks, uncertainties and other important factors that may cause our actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Because forward-looking statements are inherently subject to risks and uncertainties, some of which cannot be predicted or quantified and some of which are beyond our control, you should not rely on these forward-looking statements as predictions of future events. Risks and uncertainties include, among other things, risks and uncertainties related to intense competition in the proteomics market, exposure to legal proceedings, regulatory inquiries and other legal matters, failure to develop new assays or instruments, dependence on researchers who rely heavily on government funding, reductions in spending by research and academic institutions, the potential for products to be subject to more onerous regulation by the FDA or other regulatory requirements, the complexity of manufacturing our instruments and consumables, failure to obtain marketing authorizations for future products that are intended for clinical or diagnostic use, our ability to protect its intellectual property and other risks and uncertainties described in our filings with the Securities and Exchange Commission (the “SEC”), including those described from time to time under the caption “Risk Factors” in our Quarterly Report on Form 10-Q filed with the SEC on May 8, 2026. The events and circumstances reflected in our forward-looking statements may not be achieved or occur and actual results could differ materially from those projected in the forward-looking statements. Moreover, we operate in an evolving environment. New risk factors and uncertainties may emerge from time to time, and it is not possible for management to predict all risk factors and uncertainties. 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. ADDITIONAL INFORMATION AND WHERE TO FIND IT Copies of documents filed with the SEC by Alamar are available free of charge under the SEC Filings heading of the Investor Relations section of Alamar’s website at investors.alamarbio.com.
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Powering precision proteomics to enable the earliest detection of disease OUR MISSION ©2026 Alamar Biosciences, Inc. 3
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©2026 Alamar Biosciences, Inc. 4 ©2026 Alamar Biosciences, Inc. 4 The only platform combining all five pillars required for precision proteomics Alamar brings exceptional analytical performance and avoids the trade-offs Up to 12 Logs Range without dilution and manipulation Broad Dynamic Range 1 – 1,000s Plex capabilities Flexible Multiplex <30 Minutes Hands-on time High precision Seamless Automation >10 – 250X Improvement Ultra-high Sensitivity Proteoforms E.g., post-translational modification changes High Specificity
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©2026 Alamar Biosciences, Inc. 5 ©2026 Alamar Biosciences, Inc. 5 Delivered strong Q2 revenue growth Consumable revenue increased 147% compared to Q2 2025 Total Revenue (M) Q2 2025 Q2 2026 $16.2 $29.4 Services & Other Instruments Consumables Gross margin reached 60% for the first time in Q2 2026 Total revenue increased 82% compared to Q2 2025
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©2026 Alamar Biosciences, Inc. 66 ©2026 Alamar Biosciences, Inc. 6 Our near-term growth strategy Novel Content Expansion Further extend leadership in neurology & inflammation Expand content to address new markets Grow Installed Base Grow instrument placements and drive utilization with existing customers Expand team while maintaining an efficient commercial organization Use Cases & Applications Collaborate with customers to develop new applications Grow publication base to drive awareness and adoption ALAMAR ALAMAR ALAMAR
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©2026 Alamar Biosciences, Inc. 7 ©2026 Alamar Biosciences, Inc. 7 Key business highlights Rapid adoption of new Neuro 220 Panel Launched the first commercial, multiplex eMTBR-T au immunoassay (added to Neuro 220 Panel) Expanded content menu with Immune 340 Panel Enhanced platform capabilities with the launch of DBS Extraction Kit Expanded Alzheimer’s Disease Data Initiatives & Gates Ventures agreement, including new national initiative to advance biomarkers for neurological diseases Literature footprint grew to 165 publications and preprints, adding >40 in Q2 2026 Outstanding AAIC presence with 140+ podium presentations and posters
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©2026 Alamar Biosciences, Inc. 8 ©2026 Alamar Biosciences, Inc. 8 Plasma eMTBR-T au tracks T au PET Braak stage across the full spectrum of pathology Launched first blood-based multiplex immunoassay for eMTBR-Tau Non-invasive, blood-based measurement of the tau tangle burden, the core pathology associated with disease progression and cognitive decline in Alzheimer’s disease eMTBR-Tau is emerging as one of the most important biomarkers in AD Validated in multiple sample cohorts Data presented from multiple customer labs at AAIC
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©2026 Alamar Biosciences, Inc. 9 ©2026 Alamar Biosciences, Inc. 9 >140 posters and presentations using NULISA at AAIC Volume of data reflects widespread adoption of NULISA and ARGO HT technology among researchers studying Alzheimer’s and related dementias KEY THEMES FROM 2026 MEETING Add images Blood based biomarkers are going mainstream T au is emerging as a major drug target from Alzheimer’s disease Need to understand disease heterogeneity and co-pathologies Alamar’s workshop, “Beyond p -tau217: Expanding Alzheimer's Insights with Multiplex Protein Profiling”
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©2026 Alamar Biosciences, Inc. 10 ©2026 Alamar Biosciences, Inc. 10 Expanded global partnership with Gates Ventures and Alzheimer’s Disease Data Initiative Expanded collaboration adds ~86,000 samples to be profiled with Neuro 220 Combined dataset will encompass >140,000 samples profiled across multiple geographies and cohorts, integrated with clinical and longitudinal outcome data and shared with the global research community The largest cohort linked to clinical outcomes in Alzheimer’s disease Includes ~21,000 plasma samples for national- scale initiative with leading universities
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©2026 Alamar Biosciences, Inc. 11 ©2026 Alamar Biosciences, Inc. 11 Highly sensitive multiplex measurement captures regulatory proteins, like checkpoint inhibitors, and low abundance targets that standard platforms routinely miss Expanded panel advances the understanding of immune system across translational and clinical research in cancer, cardiovascular-metabolic, autoimmune and aging Raising the bar with Immune 340 Note: protein markers may be relevant to multiple disease areas
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©2026 Alamar Biosciences, Inc. 12 ©2026 Alamar Biosciences, Inc. 12 Launched NULISA Dried Blood Spot Extraction Kit Key capability for future population-scale screening and health-monitoring tests Reduces barriers for repeat or longitudinal testing No venipuncture enables at-home, remote sample collection Turns a few drops of blood into a dried, ambient-shippable specimen. Compatible with different collection devices, without losing the low-abundance biology Designed to enable more decentralized large-scale clinical trials
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©2026 Alamar Biosciences, Inc. 13 ©2026 Alamar Biosciences, Inc. 13 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026 Q2 2026 Strong and rapidly growing scientific publications 165 Publications & pre-prints since commercial launch Source: Chart of cumulative customer peer-reviewed publications and pre-prints ~50% findings in low abundance proteins requiring high sensitivity >50% of publications mention a signature or classifier Neuro remains the dominant therapeutic area KEY HIGHLIGHTS FROM Q2 Breadth and depth of publications demonstrate the impact of our platform
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©2026 Alamar Biosciences, Inc. 14 ©2026 Alamar Biosciences, Inc. 14 • High diagnostic accuracy to identify the dominant pathology and co-pathology in any individual • Functionality even in diagnostically ambiguous or presymptomatic individuals - based on biology • Reinforces our “precision proteomics” advantage (Performance with 15 proteins was similar to or better than that using hundreds of proteins from an orthogonal platform) Carlos Cruchaga, Ph.D. Source: Xu Y (2026) Alzheimers Dement. 23:e71420 Characterizing the burden of co-pathologies will enable better clinical trials and precision medicine 15-protein AI classifier for diagnosing & profiling neurodegenerative diseases AUC>0.92 (mean 0.955) Class AUC
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©2026 Alamar Biosciences, Inc. 15 Our strategy to unlock the precision proteomics market ©2026 Alamar Biosciences, Inc. 15 PRECISION PROTEOMICS RUO Flexible-plex LEGACY PROTEOMICS RUO large-plex “hits” and lists PRECISION PROTEOMICS PRECISION PROTEOMICS Early disease detection and health monitoring Clinical Dx LDT/IVD Note: Alamar’s products are currently available for research use only and have not yet been approved for clinical use by the FDA.
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©2026 Alamar Biosciences, Inc. 16 ©2026 Alamar Biosciences, Inc. 16 Executing on our Dx enablement strategy to unlock significant opportunities in precision proteomics STEP 1 Platform Validation After obtaining FDA marketing authorization1, launch FDA cleared instrument, ARGO HT/DX, to support development of LDTs/IVDs on platform STEP 2 Dx Enablement Partner with IVD/LDT companies to support development and commercialization of high-value, differentiated tests (standalone or multi-omics solutions) Potential CDx use Platform Validation Dx Enablement 1. Planned submission for ARGO HT/DX in 2027
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©2026 Alamar Biosciences, Inc. 17 ©2026 Alamar Biosciences, Inc. 17 Strong topline growth driven by both consumable and instruments $16.2 $29.4 Q2 2025 Q2 2026 YOY growth 82% $6.3 $15.5 Q2 2025 Q2 2026 $5.8 $7.8 Q2 2025 Q2 2026 YOY growth 35% YOY growth 147% Total Revenue (M) Consumable Revenue (M)Consumable Revenue (M) Instrument Revenue (M)
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©2026 Alamar Biosciences, Inc. 18 ©2026 Alamar Biosciences, Inc. 18 Diverse Q2 revenue composition across customers and geographies EMEA 22% APAC 9% Americas 69% 1. Biopharma includes pharmaceutical, biotechnology, and CROs/CDMOs Biopharma1 42% Academic 52% Distributor 6% Geographic Split Customer Split
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©2026 Alamar Biosciences, Inc. 19 ©2026 Alamar Biosciences, Inc. 19 Q2 2026 financial highlights Q2 2026 Q2 2025 Revenue $29.4M $16.2M Gross Margin 60% 53% R&D $13.8M $8.9M SG&A $17.4M $7.6M Total Operating expense $31.2M $16.5M Net loss ($13.2M) ($7.0M) Net loss per share ($0.22) ($0.62) June 30, 2026 March 31, 2026 Cash, cash equivalents, short-term investments & restricted cash $256.3M $69.5M
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©2026 Alamar Biosciences, Inc. 20 ©2026 Alamar Biosciences, Inc. 20 Initiating revenue guidance for FY 2026 $74.2 2025 2026 Total Revenue (M) $116 - 120 Guidance range reflects expected annual growth of 59% at midpoint Expect FY revenue for 2026 to be in the range of $116 - $120 million
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©2026 Alamar Biosciences, Inc. 21 ©2026 Alamar Biosciences, Inc. 21 Key growth drivers in 2026 & beyond 2026 2027 Grow installed base & drive utilization Launch multiplex panel for new disease areas Submit ARGO HT/DX for FDA approval Establish partnerships for Dx enablement strategy Grow installed base by ≥100 instruments, bringing total placements to >200 Maintain per instrument pull through >$400K Become the reference standard through adoption into additional large, population-scale studies
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©2026 Alamar Biosciences, Inc.