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LEGEND BIOTECH August 11 , 2026 Second Quarter 2026 Financial Results & Corporate Update This presentation is for investor relations purposes only - Not for product promotional purposes
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Opening Remarks Q2 2026 Highlights & Recent Accomplishments Pipeline CARVYKTI ® Performance Overview Financial Performance Q&A Agenda 1 2 3 4 5 6 2 This presentation is for investor relations purposes only - Not for product promotional purposes
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Carlos Santos Chief Financial Officer 3 This presentation is for investor relations purposes only - not for product promotional purposes Alan Bash Interim Chief Executive Officer
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Forward-looking Statements 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®; and statements about regulatory submissions for CARVYKTI®, statements related to Legend Biotech's ability to achieve operating profit; statements related to Legend Biotech’s ability to fund its operations beyond 2026 and Legend Biotech’s anticipated profitability in 2026; the progress of submissions with the FDA, the EMA and other regulatory authorities; expected results and timing of clinical trials; Legend Biotech’s expectations on advancing its pipeline and product portfolio, and the potential benefits of Legend Biotech’s product candidates, including the potential of LB2102 and LB2501 and the reproducibility and durability of any favorable results initially seen in patients dosed to date in clinical trials. 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, 2025, filed with the Securities and Exchange Commission (SEC) on March 10, 2026 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. 4 This presentation is for investor relations purposes only - Not for product promotional purposes
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5 Non-IFRS financial metrics This presentation refers to certain non-IFRS financial metrics. We use Adjusted Net Income (Loss) and Adjusted Net Income (Loss) per Share (which we sometimes refer to as “Adjusted EPS”, or “ANI per Share”, respectiv ely) as performance metrics. Adjusted Net Income (Loss) and ANI per Share are not defined under IFRS, are not a measure of operating income, operating performance, or liqu idity presented in accordance with IFRS, and are subject to important limitations. Our use of Adjusted Net Income (Loss) has limitat ions as an analytical tool, and you should not con sider it in isolation or as a substitute for analysis of our results as reported under IFRS. For example: (i) although depreciation and amortization are non-cash charges, the ass ets being depreciated and amortized may have to be replaced in the future, and Adjusted Net Income (Loss) does not reflect cash capital expenditure requirements for such replacements or f or new capital expenditure requirements; (ii) Adjusted Net Income (Loss) excl udes unrealized foreign exchange gain (loss); ( iii) Adjusted Net Income (Loss) does not reflect c hanges in, or cash requirements for, our working capital needs; and (iv) Adjusted Net Income (Loss) excludes such as share based compensation expense, which has been, and will continue to be for the foreseeable future, a significant recurring expense for our business and an important part of our compensation strategy. Also, our definition of Adjusted Net Income (Los s) and Adjusted Net Income (Loss) per share may not be the same as similarly titled measures used by other companies. However, we believe that providing information concerning Adjusted Net Income (Loss) and Adjusted Net Income (Loss) per Share enhances an investor’ su n d e r s t a n d i n go fo u r financial performance. We use Adjusted Net Income (Loss) as a performance metric that guides management in its operations of planning for the future o f the business. We believe that Adjusted Net Income (Loss) provides a useful measure of our operation performance from a period to period by excluding certain items that we belie ve are not representative of our core business. We define Adjusted Net Income (Loss) as Net Income (Loss) adjusted for (1) non-cash items such as depreciation and amortization, sh are-based compensation, and impairment loss and (2) unrealized foreign excha nge gain (loss). Adjusted Net Income (Loss) per Sha re is computed by dividing Adjusted Net Income (Lo ss) by the weighted average shares outstanding. Reconciliations of Adjusted Net Income (Loss) and Adjusted Net Income (Loss) per Share to the most directly comparable IFRS measures are included at t he end of this presentation. 5 This presentation is for investor relations purposes only - Not for product promotional purposes
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6 6 This presentation is for investor relations purposes only - not for product promotional purposes Alan Bash Interim Chief Executive Officer
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7 7 This presentation is for investor relations purposes only - Not for product promotional purposes Q2 2026 Highlights & Recent Accomplishments • CARVYKTI® Net Trade Sales grew 50% YoY1 $657M • 32% YoY growth in US • 128% YoY growth OUS • CARVYKTI® is launched in 19 global markets, with 3482 global activated CARVYKTI® treatment sites • At EHA 2026, established first clinical proof-of-concept data for LB2501, in vivo CAR-T cell therapy for R/R B-NHL patients3 • At ASCO 2026, announced new CARTUTUDE program data as well as first-in-human clinical data for LB2102, a DLL3- targeted CAR-T therapy for SCLC and LCNEC 4 • Closed public offering of ADSs resulting in approximately $212 million of net proceeds • CARVYKTI® Net Trade Sales grew 50% YoY1 $657M • 32% YoY growth in US • 128% YoY growth OUS • CARVYKTI® is launched in 19 global markets, with 3482 global activated CARVYKTI® treatment sites • At EHA 2026, established first clinical proof-of-concept data for LB2501, in vivo CAR-T cell therapy for R/R B-NHL patients3 • At ASCO 2026, announced new CARTUTUDE program data as well as first-in-human clinical data for LB2102, a DLL3- targeted CAR-T therapy for SCLC and LCNEC 4 • Closed public offering of ADSs resulting in approximately $212 million of net proceeds Q2 2026 Highlights 1. YoY = year over year 2. As of August 4, 2026. 3. Presented LB2501 results in a late-breaking session at the European Hematology Association (EHA) 2026 Congress (Abstract #LB5006) 4.Presented data at the American Society of Clinical Oncology (ASCO) 2026 Annual Meeting (Abstract #8012) (Abstract #7536) (Abstract #7533)
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CARVYKTI® Net Trade Sales ($MM) U.S. OUS +50% growth to $657M in Q2’26 vs. $439M in Q2’25 → U.S. QoQ growth of 9% primarily driven by: • Accelerated uptake in earlier treatment lines • ATCs5 includes ~40% community hospitals → OUS QoQ growth of 13% primarily driven by: • Launch uptake in 19 markets worldwide, with 196 OUS treatment sites Expanding market penetration and earlier-line adoption represent a substantial and durable growth opportunity 8 CARVYKTI® Sales Highlights 1. Q2 2026 vs Q2 2025; 2. Quarter over Quarter growth for Q2 2026 vs Q1 2026 ; 3. OUS – O utside U.S. 4. Includes a currency impact. Excluding the 1.7% YoY currency impact, global operational growth was 47.7% YoY; 5. ATC – Authorized Treatment Centers This presentation is for investor relations purposes only - Not for product promotional purposes QoQ Growth2YoY Growth1 9%32%U.S. 13%128%OUS3 10%50%Global4 140 167 258 304 318 358 396 420 433 472 16 20 27 31 51 81 128 135 164 185 0 100 200 300 400 500 600 700
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9 9 This presentation is for investor relations purposes only - Not for product promotional purposes Select Presentations at ASCO 2026 LB2102 - DLL3-targeted CAR-T therapy for SCLC1 & LCNEC2 • At higher dose levels, LB2102 achieved an ORR3 of 28.6% and a DCR4 of 78.6%, with durable responses observed in some patients • Demonstrated a manageable safety profile and encouraging clinical activity in heavily pretreated patients CARTITUDE Program • Continued to support durable efficacy and a consistent safety profile for CARVYKTI® in multiple myeloma, including sustained PFS/OS5 benefit across cytogenetic risk groups and a low incidence (1.2%) of IEC-EC6 LB2102 - DLL3-targeted CAR-T therapy for SCLC1 & LCNEC2 • At higher dose levels, LB2102 achieved an ORR3 of 28.6% and a DCR4 of 78.6%, with durable responses observed in some patients • Demonstrated a manageable safety profile and encouraging clinical activity in heavily pretreated patients CARTITUDE Program • Continued to support durable efficacy and a consistent safety profile for CARVYKTI® in multiple myeloma, including sustained PFS/OS5 benefit across cytogenetic risk groups and a low incidence (1.2%) of IEC-EC6 LB2102 & CARTITUDE Program Data 1. Small Cell Lung Cancer. 2. Large-cell Neuroendocrine Carcinoma. 3. Overall Response Rate 4. Disease Control Rate 5. Progression-Free Survival/Overall Survival 6. Immune Effector Cell-Associated Enterocolitis
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10 10 This presentation is for investor relations purposes only - Not for product promotional purposes Promising LB2501 Efficacy Data from EHA 2026 LB2501: in vivo CD19/CD20 dual-target CAR-T therapy Phase 1 study in adults with Relapsed/Refractory B-Cell NHL • Anticipate filing IND9 for LB2501 in 2H 2026 CLINICAL DEVELOPMENT PLANS 1. EHA: European Hematology Association; 2. DLBCL: Diffuse Large B-Cell Lymphoma; 3. MCL: Mantle Cell Lymphoma; 4. FL: Follicular Lymphoma; 5. ORR: Objective Response Rate; 6. CR: Complete Response; 7. DLT: Dose-Limiting Toxicity; 8. Serious Adverse Events; 9. IND: Investigational New Drug application; 10. TCE: T-cells Engager • Dose Level 2 (DL2) across DLBCL2, MCL3 and FL4: • 100% (6/6) ORR5 • 83.3% (5/6) CR6 • CAR-T cells detectable in peripheral blood for up to 116 days • LB2501 is well tolerated with no DLTs7, SAEs8, and no deaths RESULTS PRESENTED AT EHA1 2026 Duration of Responses in Patients (DL2) 0123 4 Pt 7: FL Pt 8: FL Pt 9: DLBCL Pt 10: DLBCL Pt 12: MCL Pt 11: DLBCL Pt 8 had prior TCE with washout of 2.7 months Months since infusion Total (N=12)DL2 (N=6)Response Rate 6 (50.0) [21.1-78.9]6 (100) [54.1-100]ORR, n (%) [95% CI] 5 (41.7) [15.2-72.3]5 (83.3) [35.9-99.6]CR, n (%) [95% CI] Preevaluation CR PR Still being followed
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11 Advancing a Robust, Differentiated Cell Therapy Pipeline This presentation is for investor relations purposes only - Not for product promotional purposes Notes： 1. In collaboration with Janssen, Pharmaceutical Companies of Johnson & Johnson. NDMM = Newly Diagnosed Multiple Myeloma. 2. Phase 1 investigator-initiated trial in China 3. IND applications have been cleared by the United States FDA 4. 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 the 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 PartnerCurrent StatusNDAPhase IIIPhase IIPhase IPre-ClinicalIndicationTargetProgram CARVYKTI®: BCMA-directed Autologous Therapy Patient follow-upNDMM (Front-line) (Transplant Not Intended) (CARTITUDE-5)(1) BCMACARVYKTI® Patient follow-upNDMM (Front-line, Transplant Eligible) (CARTITUDE-6)(1) EnrollingNDMM (Front-line, Transplant Not Intended) (CARTITUDE-10)(1) Autologous Therapies Met primary endpoint, patient follow-upRelapsed/Refractory Gastric & Pancreatic Cancers(3)Claudin 18.2LB1908 NOVARTISMet primary endpoint, patient follow-up2L+ Small Cell Lung Cancer and Large Cell Neuroendocrine Carcinoma (3)(4)DLL3LB2102 Patient follow-upRelapsed/Refractory Multiple Myeloma(2)GPRC5DLB2401 Patient follow-upRelapsed/Refractory Multiple Myeloma(2)CD19 x GPRC5DLB2402 Patient follow-upRelapsed/Refractory Multiple Myeloma(2)GPRC5D (FAST CAR)LB2403 EnrollingRelapsed/Refractory Multiple Myeloma(2)FcRH5 (FAST CAR)LB2502 Allogeneic Therapies EnrollingRelapsed/Refractory Autoimmune Diseases(2)CD19 x CD70 (CAR-γδ T)LB2404D EnrollingRelapsed/Refractory Autoimmune Diseases(2)CD19 x BCMA (CAR-NK)LB2405 EnrollingRelapsed/Refractory B-cell Non-Hodgkin Lymphoma(2)CD20 (CAR-αβ T)LB2302 EnrollingRelapsed/Refractory B-cell Non-Hodgkin Lymphoma(2)CD19 x CD20 (CAR-γδ T)LB2303 EnrollingRelapsed/Refractory B-cell Non-Hodgkin Lymphoma(2)CD19 x CD20 (CAR-γδ T)LB2406 In Vivo Therapies EnrollingRelapsed/Refractory B-cell Non-Hodgkin Lymphoma(2)CD19 x CD20LB2501 EnrollingRelapsed/Refractory Multiple Myeloma(2)GPRC5DLB2503 InitiatingRelapsed/Refractory Autoimmune Diseases(2)BCMALB2505 Multi-Regional Clinical Trial Multi-Regional Clinical Trial US IND US IND Multi-Regional Single Arm Trial
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12 Well Positioned For Long-Term Growth 12 This presentation is for investor relations purposes only - Not for product promotional purposes 1. Net Trade Sales - Cost of Good Sold - Operating Expenses = CARVYKTI Profit; 2. As of June 30, 2026; 3. MM = Multiple Myeloma; 4. For the quarter ended June 30, 2026; 5. Legend Biotech and Johson & Johnson Estimate; 6. Company-wide profit defined as Adjusted Net Income; 7. As of July 13 6, 2026 • • Advancing next generation cell therapy pipeline, with promising in vivo data presented at EHA 2026 • Expecting IND submission for LB2501 in 2H 2026 • ~$965 Million in Cash, Cash Equivalents and Time Deposits2 • Expect to achieve company-wide profitability in 20266 Q2 2026 CARVYKTI Net Trade Sales Cash Position2 CAR-T Leadership in MM3 Cell Therapy Innovation Durable Global Business • CARVYKTI® is the top-selling CAR-T in a single quarter4 • >$5B peak annual sales potential5 ~13,000 patients treated with CARVYKTI® 7 Pipeline Programs 12
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13 13 This presentation is for investor relations purposes only - not for product promotional purposes Carlos Santos Chief Financial Officer
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14 14 This presentation is for investor relations purposes only - Not for product promotional purposes Progress Towards Sustainable Profitability in 2026Revenue ($MM) -200% -150% -100% -50% 0% 50% 100% 150% 0 50 100 150 200 250 300 350 400 450 Revenue Operating Margin Revenue has scaled at a CAGR of 74% since 2Q23, with gradual gross margin improvements CARVYKTI® franchise became profitable in 2025, expect company-wide profitability in 20261 Non-IFRS Adjusted Net Income/(Loss) (USD $M) 2H 20262Q 2026Q1 2026202520242023 Strong underlying demand growth, with Operating Margin improving from -142% in 2Q23 to 15% in 2Q26 Operating Margin (%) 52% y/y Growth -336 -189 -33 -11 1. Company-wide profitability defined as Adjusted Net Income 63
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15 15 This presentation is for investor relations purposes only - Not for product promotional purposes Driving Operating Leverage Over Time o Significant revenue growth of 52% YoY with operating expenses growth of only 7% YoY o Gross margin improved ~150 bps YoY driven by higher volume, labor utilization and OOS4 improvement o Lower R&D investment of -2% YoY primarily driven by BCMA5 frontline clinical studies maturing o SG&A investment increased 19% primarily due to emphasis on sustaining BCMA CAR-T market leadership while keeping G&A flat o Operating margin of 15% vs. -9% in 2Q25 o Incomes taxes of $22.3 million primarily driven by an increase in taxable income across our U.S., Belgium and PRC entities. o ANI grew more than 6x YoY to $63.1 million Q2 2026 Financial Highlights ChangeQ2 2025Q2 2026$ in millions (except per share) 48%219.7326.1Collaboration Revenue 73%35.461.4License & Other Revenue 52%255.1387.5Total Revenue 1%57%58%Gross Margin on Net Product Sales 7%179.0192.4Total Operating Expenses -2%98.396.0R&D 19%80.796.4SG&A NMF3(21.9)57.7Operating Income (Loss) NMF(0.6)(22.3)Income Tax NMF(125.4)33.2Net Income (Loss) NMF10.163.1ANI1 (Loss)2 NMF$0.03$0.17ANI (Loss)2 Per Share – Basic NMF$0.03$0.16ANI (Loss) Per Share – Diluted 1. ANI: Adjusted Net Income. 2. Adjusted Net Loss and Adjusted Net Loss per Share (on basic and diluted shares basis) are non-IFRS measures. Reconciliations of Adjusted Net Loss and Adjusted Net Loss Per Share to the most directly comparable IFRS measures are included at the end of this presentation. The definitions of these non-IFRS measures are at the beginning of this presentation. 3. Not Meaningful. 4. OOS: Out of Spec. 5. BCMA – B -cell maturation antigen.
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16 16 This presentation is for investor relations purposes only - Not for product promotional purposes Profitability and Strong Balance Sheet for Business Sustainability • Advancing in vivo CAR-T pipeline programs • Focused, synergistic business development • Modest capital expenditures for ongoing manufacturing capacity expansion • Advancing in vivo CAR-T pipeline programs • Focused, synergistic business development • Modest capital expenditures for ongoing manufacturing capacity expansion Investment Priorities • 3/4 of CARVYKTI® orders from 2-4L • Consecutive quarter over quarter growth • Company-wide profitability expected in 20261 • IND submission for LB2501 • 3/4 of CARVYKTI® orders from 2-4L • Consecutive quarter over quarter growth • Company-wide profitability expected in 20261 • IND submission for LB2501 2026 Goals • ~$965 Million in Cash, Cash Equivalents and Time Deposits as of June 30, 2026 • No long-term debt • ~$965 Million in Cash, Cash Equivalents and Time Deposits as of June 30, 2026 • No long-term debt Balance Sheet Strength 1. Company-wide profitability defined as Adjusted Net Income
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Carlos Santos Chief Financial Officer 17 This presentation is for investor relations purposes only - not for product promotional purposes Alan Bash Interim Chief Executive Officer Q&A Yuhong Qiu Interim Head of R&D
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18 Thank you! This presentation is for investor relations purposes only - Not for product promotional purposes
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19 19 Reconciliation of IFRS to Non-IFRS Metrics This presentation is for investor relations purposes only - Not for product promotional purposes Three months ended June 30, 20252026($ in millions, except per share data) (125.4)33.2Net income (loss) 5.911.7Depreciation and amortization 18.717.3Share-based compensation 0 0.3 Impairment loss (included in other operating expense) 110.90.6Unrealized foreign exchange loss/(gain) (included in Other income/(expense), net) 10.1 63.1 Adjusted net income (loss) Adjusted net income (loss) per share: 0.030.17Adjusted net income (loss) per share – basic 0.03 0.16Adjusted net income (loss) per share – diluted Financials under IFRS (0.34)0.09Earnings (loss) per share – basic (0.34)0.09Earnings (loss) per share – diluted