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Legend Biotech Corporate Presentation J.P. Morgan Healthcare Conference January 2026 © 2025 Legend Biotech. All rights reserved.
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Disclaimer 2 This presentation has been prepared by Legend Biotech Corporation (“Legend Biotech” or the “Company”) solely for information purpose and does not contain all relevant information relating to the Company. The safety and efficacy of the agents and/or uses under investigation discussed in this presentation have not been established, except to the extent specifically provided by marketing authorizations previously received from relevant health authorities. Further, for investigational agents and/or uses, the Company cannot guarantee health authority approval or that such agents and/or uses will become commercially available in any country. Certain information contained in this presentation and statements made orally during this presentation relate to or are based on studies, publications, surveys and other data obtained from third-party sources and Legend Biotech's own internal estimates and research. While Legend Biotech 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 obtained from third -party sources. While Legend Biotech believes its internal research is reliable, such research has not been verified by any independent source. Statements in this presentation about future expectations, plans and prospects, as well as any other statements regarding matters that are not historical facts, constitute “forward-looking statements” within the meaning of The Private Securities Litigation Reform Act of 1995. These statements include, but are not limited to, statements relating to Legend Biotech’s strategies and objectives; statements relating to CARVYKTI® (ciltacabtagene autoleucel; cilta- cel), including patient population of CARVYKTI®, Legend Biotech’s expectations for CARVYKTI®, including manufacturing expectations for CARVYKTI®; statements about regulatory submissions for CARVYKTI®, statements related to Legend Biotech's ability to achieve operating profit; statements related to Legend Biotech’s anticipated achievement of operating profit excluding unrealized foreign exchange losses in 2026; the progress of such submissions with the FDA, the EMA and other regulatory authorities; expected results and timing of clinical trials; Legend Biotech’s expectations on advancing their pipeline and product portfolio; statements regarding the estimated market size for Legend Biotech’s products and the potential benefits of Legend Biotech’s product candidates. The words “anticipate,” “believe,” “continue,” “could,” “estimate,” “expect,” “intend,” “may,” “plan,” “potential,” “predict,” “project,” “should,” “target,” “will,” “would” and similar expressions are intended to identify forward- looking statements, although not all forward-looking statements contain these identifying words. Actual results may differ materially from those indicated by such forward-looking statements as a result of various important factors. Legend Biotech’s expectations could be affected by, among other things, uncertainties involved in the development of new pharmaceutical products; unexpected clinical trial results, including as a result of additional analysis of existing clinical data or unexpected new clinical data; unexpected regulatory actions or delays, including requests for additional safety and/or efficacy data or analysis of data, or government regulation generally; unexpected delays as a result of actions undertaken, or failures to act, by our third party partners; uncertainties arising from challenges to Legend Biotech’s patent or other proprietary intellectual property protection, including the uncertainties involved in the U.S. litigation process; competition in general; government, industry, and general product pricing and other political pressures; as well as the other factors discussed in the “Risk Factors” section of Legend Biotech’s Annual Report on Form 20-F for the year ended December 31, 2024, filed with the Securities and Exchange Commission (SEC) on March 11, 2025 and Legend Biotech’s other filings with the SEC. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those described in this presentation as anticipated, believed, estimated or expected. Any forward-looking statements contained in this presentation speak only as of the date of this presentation. Legend Biotech specifically disclaims any obligation to update any forward-looking statement, whether as a result of new information, future events or otherwise.
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Unlocking the Potential of Immune Cells to Treat the Toughest Diseases 3 • • State-of-the-art R&D facility opened in Philadelphia, Pennsylvania • Patients dosed for IIT In Vivo CAR-T studies in 2025 • Novel clinical proof of concept approach emphasizes speed to entry • $1B in Cash, Cash Equivalents and Time Deposits6 • Expected to achieve company-wide operating profit in 2026 • 2,900+ person global team, with largest presence in United States Positive Operating Cash Flow2 $1.7B LTM CARVYKTI Net Trade Sales3 10 Pipeline ProgramsProfitable1 1) Net Trade Sales - Cost of Good Sold - Operating Expenses = CARVYKTI Profit; 2) As of September 30, 2025; 3) Last Twelve Months Net Trade Sales based on Q4 2024 through Q3 2025; 4) MM = Multiple Myeloma; 5) Based on companies’ public filings; 6) As of September 30, 2025; 7) Legend Biotech and Johson & Johnson Estimate; 8) As of January 6, 2026 CAR-T Leadership in MM4 Cell Therapy Innovation Durable Global Business • CARVYKTI® is the top-selling CAR-T in a single quarter5 • >$5B peak annual sales potential7 • Partnered with Johnson & Johnson on CARVYKTI® >10,000 patients treated with CARVYKTI® 8
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4 Reaching a Profitability Inflection Point Operating margin improvement from -142% in 2Q 2023 to -16% in 3Q 2025 Revenue ($MM) 0 50 100 150 200 250 300 2Q 2023 3Q 2023 4Q 2023 1Q 2024 2Q 2024 3Q 2024 4Q 2024 1Q 2025 2Q 2025 3Q 2025 Revenue Revenue has scaled nearly 4× since 2Q23 while sustaining ~60%+ gross margins 2026 will be an inflection point for adjusted non-GAAP operating income Non-GAAP Operating Loss/Income (USD $M)-336 -189 -89 2023 2024 2025 YTD1 2H 2026 1) As of the nine months period ended September 30, 2025
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Our 2026 Priorities 5 Shaping the Next Era of Growth Through Leadership and Innovation Maximize CARVYKTI® Market Leadership Advancing Our Cell Therapy Innovation Drive Profitability 01 02 03
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MAXIMIZE CARVYKTI® MARKET LEADERSHIP 6
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10,000+ Patients Have Been Treated with CARVYKTI® 1) as of December 21, 2025 7 • All Manufacturing Sites Now Online: ⁻ Raritan, NJ ⁻ Obelisc and Tech Lane in Ghent, Belgium ⁻ Morris Plains, NJ (Novartis CMO Site) • 97% Manufacturing Success Rate • <30-day median turnaround time (TAT) • 10,000 annualized dose capacity in 2026 • • 141 Activated Treatment Sites in the US • 279 global treatment sites • Global Expansion: • 2022-2024: 5 markets • 2025: 9 additional markets “The long-term PFS and OS data with cilta-cel in CARTITUDE 1 and CARTITUDE 4 are unprecedented in relapsed myeloma. When you see patients achieving durable disease control for years after a single infusion, it fundamentally changes how we think about the treatment journey. At first relapse, we as treaters should be considering CAR-T with every eligible patient” -Dr. Binod Dhakal, Medical College of Wisconsin, Division of Hematology BEST IN CLASS MANUFACTURING STRONG COMMERCIAL EXPANSION1
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Legend and Johnson & Johnson Global Collaboration 8 License Agreement to Develop and Commercialize Cilta-cel with J&J PARTNERSHIP ACCOMPLISHMENTS Enrolled the largest multiple myeloma CAR-T program to date Operationalized 4 manufacturing sites worldwide WORLDWIDE COLLABORATION J&J is the global multiple myeloma market leader 50/50% cost-sharing/profit-split arrangement except in Greater China1 1) J&J and Legend have a 30/70% cost-sharing/profit-split arrangement in Greater China
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9 CARTITUDE-1: ≥5-Year Remission and Survival After A Single Infusion How a Single Infusion is Changing Multiple Myeloma4 “A single infusion of immunotherapy has kept patients healthy for more than five years. This is an unprecedented milestone for this tough-to-treat blood cancer.” -Forbes Effective Immunotherapy for a Blood Cancer3 “one-third of the treated individuals had no evidence of detectable myeloma after five years without further therapy, an outcome widely thought of as a prerequisite to consider using the term cure...” -Nature JCO = Journal of Clinical Oncology ; *attention score a weighted number showing how much online attention a research paper gets from sources like news, blogs, social media ,etc. 1) Jagannath, Sundar, et al. “Long-Term (≥5-Year) Remission and Survival After Treatment With Ciltacabtagene Autoleucel in CARTITUDE-1 Patients With Relapsed/Refractory Multiple Myeloma.” Journal of Clinical Oncology; https://doi.org/10.1200/JCO-25-00760; 2) https://asco.altmetric.com/details/177711641 Accessed on 12.21.25; 3) Bird, S., & Pawlyn, C. “Immunotherapy using CAR T cells shows promising long-term outcomes for people with myeloma.” Nature News & Views, Aug 19, 2025 4. Haseltine, W. A. “How a Single Infusion Is Changing Multiple Myeloma Treatment.” Forbes, Oct 1, 2025. 60.7 months Median overall survival at 61.3-month median follow-up (N=97; 95% CI, 41.9–NE)1; 1/3 of Patients were treatment-and progression-free for ≥5 years after a single infusion, providing the first evidence that cilta-cel is potentially curative in RRMM1 From Chronic Disease to Potential Cure: CARVYKTI® Long-Term Survival Overall Survival *Median prior lines of therapy was 6 (range, 3-18)1 Ranked #1 JCO article by attention* (last 6 months)2
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10 aAs-treated population. bmFU from randomization. BCMA, B-cell maturation antigen; CAR, chimeric antigen receptor; cilta-cel, ciltacabtagene autoleucel; FU, follow-up; MRD, minimal residual disease; pLOT, prior line of therapy; RRMM, relapsed/refractory multiple myeloma; TCE, triple-class exposed. 1) Berdeja JG, et al. Lancet 2021;398:314-24; 2) Martin T, et al. J Clin Oncol 2023;41:1265-74. 3)Parekh, et al. Presentation at 7th American Society of Hematology (ASH) Annual Meeting. “Earlier use of ciltacabtagene autoleucel (cilta-cel) is associated with better immune fitness and stronger immune effects as shown by correlative analysis of peripheral blood and the bone marrow tumor microenvironment (TME) from the CARTITUDE-4 study” Raising the Bar for Progression-Free Survival (PFS) CARVYKTI® has demonstrated profound efficacy in patients with RRMM1,2 PFS improves when CARVYKTI® is used earlier in RRMM PRESENTED AT ASH 2025 (DEC)3 CARTITUDE-1 TCE RRMM ≥ 3 pLOT CARTITUDE-1 + CARTITUDE-4a TCE RRMM 3pLOT CARTITUDE-4a RRMM 1-3 pLOT N 97 34 176 Median PFS 34.9 months 50.4 months NR (mFUb: 34.0 months)
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Earlier Use of CARYKTI® is Associated With Better Outcomes 11 OS by pLOT in CARTITUDE-1 and CARTITUDE-41 CARTITUDE-1, ≥4 pLOT CARTITUDE-4 and CARTITUDE-1, 3 pLOT CARTITUDE-4, 1 pLOT 0 25 50 75 100 0 6 12 18 24 30 36 42 48 OS, months CARTITUDE-4, 2 pLOT Patients alive, % Earlier Use of Cilta-cel Results in Higher OS Rates Overall, 99% of products manufactured using cells from patients with 1-3 pLOT compared with 97% for ≥4 pLOT MANUFACTURING RELIABILITY4 OS = Overall Survival; pLOT= prior line of therapy. 1) Parekh S, et al. Blood. 2025;146(suppl 2) Abstract 92. Presented at: 67th ASH Annual Meeting; Dec 6-9, 2025; Orlando, FL. 2) CARVYKTI Prescribing Information. Janssen Biotech, Inc. Revised April 2024; 3) Dhakal B, et al. Blood. 2025;146(suppl 1):Abstract 2215. Presented at: 67th ASH Annual Meeting; Dec 6-9, 2025; Orlando, FL; 4) Bowden R, et al. Blood. 2025;146(suppl 1):Abstract 2411. Presented at: 67th ASH Annual Meeting; Dec 6-9, 2025; Orlando, FL • Following implementation of patient management strategies, parkinsonism rates were reduced from 6% in CARTITUDE-1 to 1% in CARTITUDE-42 • In CARTITUDE-4, no cases of parkinsonism in patients who achieved ≥PR with bridging therapy3 SAFETY Median follow-up for CARTITUDE-1: 33.4 months. Median follow-up for CARTITUDE-4: 30.5 months from cilta-cel infusion.
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12 2026 CARVYKTI® MARKET POTENTIAL (US)1: Significant Market Potential in Earlier Line Multiple Myeloma Growth potential is clear, supported by scalable manufacturing capacity 0 20,000 40,000 60,000 2L-4L Patients Treated (2025) 5L+Patients Treated (2025) CAR-T Therapy Doublet/Triplet Tx In 20251, • ≤5% of patients were treated with a BCMA targeting agent (CAR-T, Bi- Specific, or ADC) in 2L-4L • ≤10% of patients were treated with a CAR-T in 5L+ SIGNIFICANT GROWTH OPPORTUNITY IN 2L-4L 1) Komodo/SHS Claims Data
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Treatment of Myeloma At First Relapse 13 1) Vincent Rajkumar is a Professor of Medicine at the Mayo Clinic in Rochester and Editor-in-Chief at Blood Cancer Journal. Available at: oncoldaily.com. “Vincent Rajkumar: First-Relapse Myeloma Algorithm for ASH25”. Accessed Dec 10, 2025. ASCT; autologous stem cell transplant; Auto; autologous; CAR-T, chimeric antigen receptor T-cell; Dara, daratumumab; Dara-KPd, daratumumab, carfilzomib, pomalidomide, and dexamethasone; DPd, daratumumab, pomalidomide, dexamethasone; DRd, daratumumab, lenalidomide, dexamethasone; KRd, carfilzomib, lenalidomide, dexamethasone; Len, lenalidomide; SCT, stem cell transplant; Tec, teclistamab. Not Refractory to Anti-CD38 Refractory to Anti-CD38 Have access and able to give cell therapy and bispecifics per recommends guidelines Unable to give cell therapy and bispecifics per guidelines Have access and able to give cell therapy per recommends guidelines Unable to give cell therapy per guidelines Standard Triplet** Standard Triplet** *Cilta-cel should be considered in eligible patients, and patients should have a discussion on pros and cons of a one-time CAR-T approach vs. prolonged therapy **Choice of standard triplet is based on refractoriness to Len and other drugs. Key options are DRd, KRd, KPd, DPd, Dara-KPd Consider salvage ACST as alternative in patients eligible for ACST who have not had transplant before; Consider 2nd auto SCT if eligible and had >36 months response duration with maintenance to first ACST Cilta-cel* or Tec-Dara Cilta-cel* or Standard Triplet** Vincent Rajkumar, Professor of Medicine at the Mayo Clinic ASH25 algorithm for Relapsed Myeloma: First Relapse1
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Driving CARVYKTI® Expansion Into the Frontline 14 Advancing into earlier lines to broaden use and fuel long-term growth. CARTITUDE-21 CARTITUDE-52 CARTITUDE-63 • Global, multi-cohort study (NCT04133636) • Phase II open-label study of Cilta-cel in various clinical settings • Global, randomized, registrational study (NCT04923893) • Phase III open-label study of VRd followed by cilta-cel vs. VRd followed by Rd maintenance, in patients with NDMM for whom ASCT is not planned as initial therapy • Global, randomized, registrational study (NCT05257083) • Phase III open-label study comparing DVRd followed by cilta-cel vs. DVRd followed by ASCT in NDMM patients who are transplant eligible ASCT, autologous stem cell transplant; DVRd, daratumumab, bortezomib, lenalidomide, dexamethasone; NDMM, newly diagnosed multiple myeloma; VRd, bortezomib, lenalidomide, dexamethasone. 1) Clinicaltrials.gov: NCT04133636; 2) Clinicaltrials.gov: NCT04923893; 3) Clinicaltrials.gov: NCT05257083. CARTITUDE-6 is a collaborative study sponsored by the European Myeloma Network. Active Enrollment complete Enrollment complete
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Accelerating Growth in the United States Through Community & Outpatient Adoption *combined Legend Biotech and Johnson & Johnson 1) Based on CARVYKTI authorized treatment centers in the United States 15 1/3 Regional/ Community Hospitals 2/3 Academic Hospitals 80% of the MM market is now within 50 miles of a CARVYKTI site (US) ~70% of RRMM patients are in the community Leading BCMA CAR-T sales organization (Legend Biotech and Johnson & Johnson) CARVYKTI® in the Community1 Continued Growing Presence in Community Community Network Activation …additional network expansions in 2026
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16 CARVYKTI®: Unmatched Real World Results in BCMA CAR-T Unrivaled Evidence. Unmatched Experience. 1) Berdeja et al. [Supplement] Lancet. 2021;398(10297):314-324; 2) clinicaltrials.gov. https://www.clinicaltrials.gov/study/NCT03548207; 3) Kaur et al, European Hematology Association 2025, Abstract S201; 4) clinicaltrials.gov https://clinicaltrials.gov/study/NCT05396885; 5) Based on CARTITUDE 1 exclusion criteria “Have known active, or prior history of central nervous system (CNS) involvement or exhibits clinical signs of meningeal involvement of multiple myeloma” and iMMagine-1 exclusion criteria, “Any sign of active or prior CNS pathology including but not limited to history of epilepsy, seiz ure, paresis, aphasia, stroke, subarachnoid hemorrhage or CNS bleed, severe brain injury, dementia, cerebellar disease, Parki nson's disease”; 6) Arcellx. Investor Relations Event at the 67th ASH Annual Meeting . December 6, 2025. Company presentation; 7) ClinicalTrials.gov. U.S. National Library of Medicine, National Institutes of Health. Available at: https://clinicaltrials.gov. Accessed December 21, 2025; 8) Patel KK, et al. [Abstract title]. Presented at the 67th American Society of Hematology (ASH) Annual Meeting; December 2025. Abstract #256; 9) Patel et al, American Society of Hematology 2025, Abstract 256; 10) National Comprehensive Cancer Network®. NCCN Clinical Practice Guidelines in Oncology (NCCN Guidelines®): Multiple Myeloma . Version 2.2026. © 2025 National Comprehensive Cancer Network, Inc. All rights reserved. Accessed July 16, 2025. CARVYKTI®: THE FIRST AND ONLY CAR-T CELL THERAPY TO BE DESIGNATED AS NCCN CATEGORY 1 FOR MULTIPLE MYELOMA AFTER 1 PRIOR THERAPY10 Anito-Cel 19 clinical sites 7 0 commercial sites ~150 patients (clinical trials only)6 Not reported 15.9 months Median follow-up (iMMagine-1)8 Not approved in any indication 141 Sites 10,000+ patients treated (worldwide) 50.4 months (CART-1 & CART-4) 61.3 months Median follow-up (CART-1) 2L+ Real-world experience US Site Experience Data Maturity mPFS triple class exposed (TCE) with 3 pLOT Indicated Patients No Yes, Superior OS (CART-4 in label) Data vs. Active Control Anito-cel reported two delayed ICANS events (Grade 1 and Grade 2) during ASH 2025 presentation9 Late Line Study Key Patient Characteristics1-4 • 3 pLOT • Stricter CNS exclusion criteria5 • 73% steroid use • 6 pLOT • Less strict CNS exclusion criteria5 • 22% steroid use
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17 Optimizing Bridging Therapy Is Associated With Improved CARVYKTI® Safety Outcomes USE OF GPRC5D BI-SPECIFIC • 134 patients across 18 US academic medical centers and 2 German centers • 98 RRMM patients received talquetamab bridging therapy and CARVYKTI KEY FINDING There were no cases of IEC colitis or parkinsonism RESPONSE TO BRIDGING THERAPY IS KEY • 761 CARVYKTI treated patients • Risk of parkinsonism was higher in patients who did not respond to bridging therapy • Parkinsonism occurred in 2.9% of patients (n=22) KEY FINDING 95% (21/22) of all Parkinsonism cases occurred in those who did not respond to bridging therapy. 1. Dhakal B, et al. Blood. 2025;146(Suppl 1) 2. Sidana S, et al. Blood. 2025;146(Suppl 1):1034 Dhakal B, et al1: Sidana S, et al 2 :
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Updated NCCN Guidelines Recommend Bridging Therapy 18 “The panel recommends that talquetamab may be considered as a bridge to BCMA CAR-T Therapy in RRMM…” 1. National Comprehensive Cancer Network®. NCCN Clinical Practice Guidelines in Oncology (NCCN Guidelines®): Multiple Myeloma. Version 5.2026. © 2025 National Comprehensive Cancer Network, Inc. All rights reserved. Accessed January 9, 2026. National Comprehensive Cancer Network Guidelines Update1 Updated January 2026
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19 The Proven Leader Forging the Path to Cure 1) Based on company public filings and FDA Adverse Event Reporting System (FAERS) Public Dashboard; 2) L.J. Costa et al. “International myeloma working group immunotherapy committee recommendation on sequencing immunotherapy for treatment of multiple myeloma.” Leukemia; https://doi.org/10.1038/s41375-024-02482- • First and only CAR-T with demonstrated Overall Survival benefit • First and only CAR-T therapy with meaningful progression free outcomes of ≥5 years in late line MM Highly Effective • Parkinsonism has decreased in earlier lines with patient management strategies • Leveraging large patient data set to assist further risk mitigation efforts Well Tolerated • Efficacy, safety, and manufacturing outcomes all improved with earlier use • IMWG recommends CAR-T therapy before Bispecific T-Cell Engagers in patients eligible for both2 • mPFS for CARTITUDE 4 is NR with median follow-up of 34 months Earlier Treatment is Better • One-time infusion provides freedom to patients • Can be administered on inpatient or outpatient basis due CARVYKTI’s unique CRS profile • Earlier CAR-T may lower overall treatment costs by reducing future therapies and healthcare utilization One-Time Treatment
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ADVANCING OUR CELL THERAPY INNOVATION 20
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LEGEND-2† RRMM NCT03090659 Pipeline of Transformative Cell Therapy Advancements Provides Continued Value Creation 21 • *In collaboration with Janssen, Pharmaceutical Companies of Johnson & Johnson. †Phase 1 investigator -initiated trial. ‡IND applications have been cleared by the U.S. FDA. #Subject to an exclusive license agreement with Novartis Pharma AG. The safety and efficacy of the agents and/or uses under investigation have not been established. There is no assurance that t he agents will receive health authority approval or become commercially available in any country for the uses being investigated. Additionally, as some programs are still confidential, certain candidates may not be included in this list. INDICATIONS: LCNEC: large cell neuroendocrine carcinoma; MM: multiple myeloma; NDMM: newly diagnosed multiple myeloma; NHL: n on-Hodgkin lymphoma; RRMM: relapsed or refractory multiple myeloma; SCLC: small cell lung cancer TARGETS: BCMA: B-cell maturation antigen; DLL3: delta-like ligand 3; GCC: guanylyl cyclase C; GPRC5D: G-protein coupled receptor, family C, group 5, member D BCMA- directed Autologous Therapy CARTIFAN-1* RRMM NCT03758417 CARTITUDE-1* RRMM NCT03548207 CARTITUDE-2* MM NCT04133636 CARTITUDE-4* RRMM 1-3 Prior Lines NCT04181827 CARTITUDE-6* NDMM Transplant Eligible NCT05257083 Ciltacabtagene Autoleucel Clinical Studies P H A S E 2 P H A S E 3 P H A S E 1 P H A S E 1 SCLC & LCNEC‡# (DLL3) MM † (CD19 X GPRC5D), (GPRC5D) GASTRIC & PANCREATIC‡ (CLAUDIN 18.2) Additional Pipeline Programs NHL† (CD20) CAR-αβ T MM† (BCMA) CAR-NK NHL† (CD19 X CD20) CAR-γδ T COLORECTAL† (GCC) AUTOIMMUNE † (CD19 X CD20 X CD22) AUTOIMMUNE † (CD19 X BCMA) (CD19 X CD70) NHL† (CD19 X CD20) CARTITUDE-10* NDMM Transplant Not Intended NCT07149857 CARTITUDE-5 NDMM Transplant Not Intended NCT04923893 Autologous Therapies Allogeneic Therapies In Vivo Therapies
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22 Advancing R&D Innovation to Drive Long-Term Growth Lean Approach to Clinical Proof of Concept Utilizes R&D Investments Efficiently 1 2 3 Disciplined IIT-to-Global Transition Drives Speed and Capital Efficiency • Advances only assets with validated clinical activity into global trials • Avoids broad early-stage spend across unproven programs • Aligns development investment with demonstrated probability of success Platform-Enabled Execution Delivers Rapid Time-to-First-Patient • Demonstrates repeatable development velocity across emerging platforms • In vivo platform advanced from candidate selection to first patient dosed in approximately six months Unique Proof-of-Concept Model Accelerates Global Entry • Leverages investigator-initiated trials (IITs) in China to rapidly establish early clinical proof-of-concept • De-risks programs prior to initiating larger, more resource-intensive US and EU clinical trials
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Leveraging Stand-Alone Cell Therapy Leadership In Vivo TaVec (T-Cell Activation Vector) Design and Mechanism of Action TARGET • Oncology and autoimmune indications • TaVec platform • Provide T cell specificity, activation and safety • Mutations in glycoprotein and CD3 single-chain variable fragment to block transduction of non-T cells MECHANISM Clinical Development Progress • First few patients dosed for IIT studies in 2025 • Multiple US-IND enabling studies planned for oncology indicationsState-of-the-art R&D facility opened in Philadelphia, Pennsylvania 23
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CAR-T Expansion & B-Cell Depletion Post In Vivo CAR-T in Monkeys 24 Conclusion: Achieved a dose-dependent CAR-T expansion along with B cell elimination post in vivo CAR-T administration in pigtailed monkeys. 1. BM = Bone Marrow; PBMC= Peripheral Blood Mononuclear Cells 1 1 Low Dose High Dose High Dose:
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2026 Commitment to Business Development 25 Continue Innovation Through Enabling Technologies Generate Non-Dilutive Funding Through Strategic Partnerships Generate Other Revenue Beyond CARVYKTI® Build on Core Cell & Gene Therapies & Expand Beyond Maintain Hematology Leadership
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DRIVE PROFITABILITY 26
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Strong Balance Sheet Fueled by CARVYKTI Growth $524M Net Sales (Q3) CARVYKTI® Net Trade Sales ($MM) 24 55 55 70 114 140 146 140 167 258 304 318 358 396 2 3 12 13 16 20 27 31 51 81 128 0 100 200 300 400 500 600 Q2 2022 Q3 2022 Q4 2022 Q1 2023 Q2 2023 Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 84% YoY Growth (Q3 2024) Commercial Momentum • $1.7B LTM CARVYKTI® Net Trade Sales1 • CARVYKTI® Profitable2 • Positive Cash Flow * $524M in Q3’25 vs. $286M in Q3’24 $1B Cash, cash equivalents, & time deposits as of September 2025 U.S. OUS ***Certain prior year amounts have been reclassified to combine pledged deposits into prepayments, other receivables, and other assets for comparative purposes. 1) Last Twelve Months Net Trade Sales based on Q4 2024 through Q3 2025 2) Net Trade Sales - Cost of Good Sold - Operating Expenses = CARVYKTI Profit; 111% Compound Annual Growth Rate (CAGR) since launch in 2022 27
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2026 Priorities to Unlock Next Stage of Growth 28 • Deliver sequential CARVYKTI growth ONGOING • 3/4 of CARVYKTI® orders from 2-4L ONGOING • Present additional long-term data ONGOING • Continued globalization ONGOING Advancing Our Cell Therapy Innovation Drive Profitability Maximize CARVYKTI® Market Leadership TIMINGPRIORITIES • Present in vivo data 2H 2026 • File 1-2 US INDs 2H 2026 • Achieve company-wide operating profit 2026 • Disciplined operating expense management ONGOING GOALS
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Thank You