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OmniAb OmniAb , Inc. Nasdaq : OABI August 2026 D igg IIII
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2 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, including our financial guidance for 2026, business strategy, our expectations regarding the application of, and the rate and degree of market acceptance of, our technology platform and other technologies, our or our partners’ expectations regarding the addressable markets for our technologies or their product candidates, as applicable including the growth rate of the markets in which we operate, our competitive advantage and the growth prospects of our business, the scalability of our business, our ability to leverage the growth of our business and to do so efficiently, the timing of the initiation or completion of preclinical studies and clinical trials by our partners, expectations regarding potential safety and therapeutic benefits of our partners’ product candidates, whether they could be first- in-class or best-in-class, product approvals and potential for future revenue growth, launches by our partners and the timing thereof, the potential for increased probability of success as programs progress to later stages, the anticipated introduction of new technologies and innovations and enhancement of our technology stack and partners' experiences, the continued innovation around and the expected performance of our technologies and the opportunities and earnings and cash flow accretion they may create, including the xPloration Partner Access Program and OmniUltra, the ability to add new partners and programs, the scientific presentations and clinical and regulatory events of our partners and the timing thereof, the potential for and timing of receipt of milestones and royalties under our license agreements with partners, and the potential to be cash flow break even or positive and the timing thereof, 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 and technologies 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; risks associated with quality and timing in manufacturing our xPloration instruments and related consumables and our reliance on a limited number of third-party manufacturers and suppliers; our failure to maintain, protect and defend our intellectual property rights; difficulties with performance of third parties we will rely on for our business; government healthcare reform, legislative measures and regulatory developments in the United States and foreign countries; unstable market and economic conditions, may have serious adverse consequences on our business, financial condition and stock price; we may use our capital resources sooner than we expect; 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 reports or information publicly released by our partners and have not been independently verified by OmniAb. For our definitions of “active partners,” “active programs,” “active clinical programs and approved products” and “approved products”, see “Management’s Discussion and Analysis of Financial Condition and Results of Operations” in our Annual Report on Form 10-K for the year ended December 31, 2025 filed with the SEC on March 4, 2026. This presentation also contains estimates and other statistical data made by independent parties and by us and/or our partners 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. Non-GAAP Financial Measures: This presentation contains a forward-looking non-GAAP financial measure, cash operating expense. We believe this financial measure provides useful information to investors with which to analyze our operating trends and performance. However, non-GAAP financial measures should not be considered a substitute for, or superior to, measures of financial performance prepared in accordance with GAAP. A reconciliation from GAAP to such non-GAAP financial measure is provided in our most recent earnings press release, which is available in the Investors section of our website at investors.omniab.com and includes additional information on the use of such measure. Disclaimer
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3 OmniAb at a Glance WE LICENSE PROPRIETARY DISCOVERY TECHNOLOGY TO THE BIOPHARMA INDUSTRY TECHNOLOGY PLATFORM Tg Proprietary Transgenic Animals Generating fully human antibodies and/or antibodies with unique characteristics including common light chains, single domain and ultra-long CDRH3 BI+AI BI and AI Powered Discovery Partners leverage the Biological IntelligenceTM (BI) built into our transgenic animals combined with OmniDeep®, our AI-powered platform, to generate bespoke therapeutic antibodies SCALE & ECONOMICS 110 Active Partners Majority of Top 10 pharma companies 425 Active Programs 32 clinical programs & approved products $3B+ Contracted Milestones ~$350M associated with clinical-stage programs 3.4% Average Royalty Rate Across Portfolio 98% of programs have downstream economics
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4 Our Business LICENSING PROPRIETARY DISCOVERY TECHNOLOGY PLATFORM WORLDWIDE Increasing Investment in Antibody Discovery Research Leveraging our growing ecosystem of 100+ partners and 400+ active programs Technologies used to discover antibodies, multispecifics, binders for CAR-T, radiopharmaceuticals and peptides Growing Partner Pipeline Differentiated Technology Offerings For Multiple Modalities Antibodies have higher regulatory approval rate than small molecules (12.1% vs. 7.5%)(1) Recent launches of xPloration® and OmniUltra drive new growth opportunities Innovative and Intelligent Expansion of Our Platforms AIML POISED FOR GROWTH BY MEETING GLOBAL INDUSTRY NEEDS (1) BIO | QLS Advisors | Informa Feb 2021 Report; Applied Clinical Trials Inflation Reduction Act accelerating shift to antibodies, with longer pricing protection
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5 Our Business Model OUR PARTNER AGREEMENTS ARE STRUCTURED TO ALIGN ECONOMIC AND SCIENTIFIC INTERESTS Technology licenses include: • Upfront/Access fees • Potential Collaboration/Service revenue • Milestones • Royalties on commercial sales
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6 OmniAb Technologies TECHNOLOGY OFFERINGS ADDRESSES THE MOST CRITICAL CHALLENGES OF ANTIBODY DISCOVERY Create Screen Deliver Create Diverse Repertoires of High-Quality Antibodies Screen Millions of Cells to Find Potential Therapeutic Candidates Further Characterize, Select and Optimize the Right Therapeutic Candidate Antigen Design & Proprietary Reagents Robust Antibodies for Any Target Bispecific Antibody Generation Novel Scaffolds High-Throughput Single Cell Screening • Custom Bioinformatics • Next Generation Sequencing (NGS) Hit Expansion • Comprehensive Binding Characterization • Proprietary Functional Ion Channel Assays • Fc-Silencing Technology (STR)* Suite of in silico tools for discovery and optimization that are woven throughout our various technologies and capabilities. Includes structural modeling, large multi-species antibody databases, molecular dynamics simulations, AI, machine and deep learning sequence models, and more *OmniAb entered into an agreement with mAbsolve Ltd. for STR, mAbsolve’s Fc-silencing platform technology, which provides OmniAb with non-exclusive, sublicensable right to incorporate the STR technology with antibodies that have been generated using OmniAb’s antibody discovery platform.
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7 What is Biological Intelligence BIOLOGICAL INTELLIGENCE 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 of therapeutic antibody discovery and may improve the probability of success of antibody product candidates in the clinic 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
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8 OmniUltra is the first and only transgenic chicken producing antibodies on a human framework with ultralong CDRH3 “knob” domains; a feature of antibodies found in cows Ultralong CDRH3s are designed to reach binding pockets not accessible with other antibodies Additionally, isolated ultralong CDRH3 knob domains can create a novel Picobody® - the smallest functional antibody fragment, about 1/3 the size of a nanobody® Picobodies have a range of potential uses, including as: • Bi-specifics • Multi-specifics • Binders for CAR-T • Radiopharmaceuticals • Peptides Nanobody is a registered trademark of Ablynx OmniUltra LAUNCHED AT ANTIBODY ENGINEERING & THERAPEUTICS CONFERENCE IN DECEMBER
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9 Novel Technology Poised for Value Creation DIVERSIFYING REVENUE OPPORTUNITIES Sale of two instruments in Q2 Competitively-priced instrument Proprietary, single-use consumables Annual software subscription • Deployed instruments performing well for our partners • Rapid run times, simplicity/ease-of-use, and robustness are key differentiators • Strong demand for instrument demos continues Through on-going discussions with partners and market research, seeing increased market opportunities Can represent a meaningful complement to our licensing business
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10 0 50 100 Active Partners • 110 Active Partners as of 6/30/2026 • New licenses added in Q2 included EnRosa Therapeutics and argenx • 8 of the 10 largest global pharma companies are Active Partners(4) Number of Active Partners(1)(2) Partner Type Partner Location(3) n=110 n=110 110 (1) See our SEC filings for Active Partners definition (2) Values shown net of attrition (3) Partner location is based on partner headquarters (4) Top-10 largest global pharma companies based on 2025 reported sales US 57%Europe 22% APAC 20% Middle East 1% Discovery 75% Commercial 20% Academic 5%
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11 425 0 100 200 300 400 500 407 (7) 25 425 Active Programs • 425 Active Programs as of 6/30/2026 • >98% of our Active Programs have contracted future economics to OmniAb • Over $3 billion in total contracted potential milestones(2) • Average royalty rate of ~3.4% across portfolio(3) Number of Active Programs(1) YTD 2026 Change in Active Programs (1) See our SEC filings for Active Programs definition (2) Total contracted milestones for standard antibody licenses associated with Active Programs (3) Excludes prepaid licenses and grandfathered licenses, all Ion Channel programs, and programs from Academic Partner/Revenue Share licenses where the economics to OmniAb will be linked to the future transaction with the developmental/commercial entity. For programs with tiered royalties, the royalty rate is calculated as a blended royalty assuming $1.3B sales level.
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12 Active Clinical Programs and Approved Products • 34 active clinical programs and approved products as of 6/30/2026 ‒ OmniRat®, OmniFlic® and OmniChicken®-derived programs were added in Q2(3) • Four new clinical additions so far in 2026 • There are now six novel chicken-derived programs in Phase 1 or Phase 2 clinical development(4) • Active clinical programs have ~$340 million in remaining potential milestones to OmniAb (1) See our SEC filings for Active Clinical Programs and Approved Products definition (2) Values shown net of attrition (3) Includes GEN1079, NTB-928 and BI 3802878 added in Q2 (4) Includes two clinical programs derived from OmnidAb (single domain technology) and four clinical programs derived from OmniChicken® Number of Active Clinical Programs and Approved Products(1)(2) 34 0 15 30
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13 Clinical and Commercial-Stage Partner Pipeline(1)(2) ONLY PROGRAMS WITH DOWNSTREAM ECONOMICS ARE SHOWN (1) Program placement is based on most advanced status in any geography, market, or indication (2) Figure excludes any Clinical and Commercial-Stage Active Partner programs that do not have future or remaining economics to OmniAb, e.g., Teclistamab (TECVAYLI®), Tiragolumab, Etentamig (ABBV-383), Surovatamig (AZD0486), NTB-928 (also known as TNB-298) (3) Arcus Biosciences evaluating zimberelimab in combination with multiple molecules within the Arcus portfolio (see www.arcus.com) (4) Ramantamig is also referred to as JNJ-79635322 by Johnson & Johnson Innovative Medicines, reference J&J company disclosures and clinicaltrials.gov; Precemtabart tocentecan is also referred to as M9140 by Merck KGaA; IMVT-1402 is also referred as Imeroprubart by Hanall Biopharma (5) Program derived from OmnidAb (single domain technology) or from OmniChicken® Phase 1 Phase 1/1b Phase 1/2 Phase 2 Phase 3 Registration Approved Gloria Biosciences, Arcus Biosciences, Gilead Zimberelimab(3) PD-1 r/r Hodgkin’s lymphoma (China) r/r Cervical cancer (China) CStone Pharmaceuticals, EwoPharma, Arrotex, Pfizer Sugemalimab PD-L1 Non-small cell lung cancer (UK, EU, China) Extranodal NK/T-cell lymphoma (China) Esophageal squamous cell carcinoma (China) Gastric or gastroesophageal junction adenocarcinoma (China) Hanall Biopharma, Harbour Biomed, CSPC Batoclimab FcRn Myasthenia gravis (China) Phase 3 trial: Thyroid eye disease (Japan) Teva TEV-’408 IL-15 Celiac disease Vitiligo Johnson & Johnson Ramantamig(4) BCMAxGPRC5DxCD3 Multiple Myeloma Gloria Biosciences GLS-012 LAG-3 Servier (Symphogen) S095018 TIM-3 Servier (Symphogen) S095024 CD73 Servier (Symphogen) S095029 NKG2A AS OF 6/30/2026 Salubris SAL003 PCSK9 Hypercholesterolemia and combined hyperlipidemia (China) Hanall Biopharma Immunovant IMVT-1402(4) FcRn Myasthenia gravis GD, D2T-RA, CIDP, Sjögren's disease, CLE Phase 1 1/1b 1/2 CessationTherapeutics CSX1004 Fentanyl Teva, Fosun TEV-’278(5) PD-1/IL-2 Johnson & Johnson JNJ-87562761 Undisclosed Seismic Therapeutics S-4321(5) PD-1:FcyRIIb Innolake ILB2101 CD40 Aptevo Therapeutics Mipletamig CD123 x CD3 Rondo Therapeutics RNDO-564 CD28 x Nectin-4 Boehringer Ingelheim BI 765179(5) CD137 x FAP Zhikang Hongyi (Biocity) BC3425 4-1BB CTTQ Pharma TQB2223 LAG-3 Johnson & Johnson JNJ-70218902 TMEFF2 x CD3 Zhikang Hongyi (Biocity) BC3195 CDH3 Genmab GEN1079 Undisclosed Merck KGaA M5542 CTLA4-OX40L Undisclosed Undisclosed(5) Undisclosed Undisclosed Undisclosed(5) Undisclosed Undisclosed Merck KGaA Precemtabart tocentecan(4) CEACAM-5 ADC Colorectal cancer Boehringer Ingelheim BI 3802878(5) Undisclosed MASH
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14 Select Partner Updates(1) IMVT-1402 FcRn IMVT-1402 showed clinically meaningful response rates of 72.7% ACR20, 54.5% ACR50 and 35.8% ACR70 at Week 16 in the open label period of its trial in difficult-to-treat rheumatoid arthritis (D2T RA). Immunovant’s development plans for IMVT-1402 remain on track across all six announced indications. They expect to provide further updates on the potentially registrational IMVT-1402 D2T RA program and report topline data from the proof-of-concept trial of IMVT- 1402 in cutaneous lupus erythematosus in the second half of calendar year 2026. In calendar year 2027, topline data are anticipated for the potentially registrational trials evaluating IMVT- 1402 in Graves’ disease and myasthenia gravis. Topline data are expected to follow in calendar year 2028 for the potentially registrational trials of IMVT- 1402 in chronic inflammatory demyelinating polyneuropathy and Sjögren’s disease. Other Partner Program Progression Updates Johnson & Johnson Innovative Medicines’ ramantamig advanced to Phase 3 in Multiple Myeloma directly from Phase 1(2) Boehringer Ingelheim’s BI 3802878 advanced to Phase 2 in MASH VERAXA Biotech announced advancement of novel bispecific antibody drug conjugate program VXA- 222 into its next collaboration phase with OmniAb's discovery work successfully concluded. VXA-222 addresses two different target antigens present on solid tumors with one molecule. Precemtabart tocentecan CEACAM5 ADC TEV-’408 IL-15 Teva announced plan to advance TEV- ’408, an investigational anti-interleukin- 15 monoclonal antibody, into a Phase 2b study in vitiligo in the fourth quarter of 2026. Data from the ongoing, open-label Phase 1b study showed improvements in skin pigmentation in patients with active or stable non-segmental vitiligo. At week 24, in evaluable participants: ‒ Nearly 75% of patients reported improvement in facial vitiligo, with half reporting “much” or “very much” improved; ‒ 42% achieved F-VASI50 and 21% achieved F-VASI75; ‒ 55% of patients reported improvement in total body vitiligo; ‒ 7% achieved T-VASI50. At the American Society of Clinical Oncology (ASCO) Gastrointestinal Cancers Symposium, pooled data on precemtabart tocentecan, a novel anti-CEACAM5 antibody-drug conjugate with a topoisomerase 1 inhibitor payload, from the PROCEADE- CRC-01 study in patients with metastatic colorectal cancer were presented that showed an objective response rate of 26.8% and median progression-free survival of 6.9 months. The overall safety profile was consistent with earlier data with no new or unexpected treatment-emergent adverse events. Based on this Phase 1 data, Merck KGaA advanced precemtabart tocentecan directly to Phase 3 in metastatic colorectal cancer in the second quarter. (1) Reference partner disclosures and clinicaltrials.gov (2) Ramantamig is also referred to as JNJ-79635322 by Johnson & Johnson Innovative Medicines, reference J&J company disclosures and clinicaltrials.gov
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15 Upcoming Partner Program Clinical/Regulatory Events POTENTIAL EVENTS IN SECOND HALF OF 2026(1) Clinical Data Events Hypercholesterolemia/ Mixed Dyslipidemia Market Approval(4) China Celiac Disease(2) Phase 2a Topline Results Difficult-to-Treat Rheumatoid Arthritis(3) Potentially Registrational Further Updates Cutaneous Lupus Erythematosus(3) Phase 2 Proof-of-Concept Topline Data (1) Based on partner public disclosures (2) Reference TEVA Q1 2026 report dated April 29, 2026 (3) See Roivant/Immunovant disclosures dated August 6, 2026, IMVT-1402 is also referred to as Imeroprubart by Hanall Biopharma (4) Salubris stated on September 22, 2025 that NDA submission aligns with China’s accelerated approval framework for high impact biologics, positioning for potential market entry in 2026 Regulatory Action/Market Entry In addition to multiple clinical data and regulatory events, also multiple new clinical study starts in 2026 Immunovant IMVT-1402 FcRn Teva TEV-’408 IL-15 Immunovant IMVT-1402 FcRn Salubris SAL003 PCSK9 Advanced or Metastatic Solid Tumors(2) Phase 1a/1b Initial Human Data Teva, Fosun TEV-’278 PD-1/IL-2
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16 Q2 2026 and June 2026 YTD Financial Results Table includes rounded figures. Please reference press release dated 8/6/2026 for more detailed information. (in millions, except per share data) Q2 2025 Q2 2026 Variance 2025 YTD 2026 YTD Variance License and milestone revenue $ 1.2 $ 9.5 $ 8.3 $ 3.3 $ 21.5 $ 18.2 Service revenue 1.9 2.5 0.6 3.8 4.6 0.8 xPloration revenue 0.6 1.2 0.6 0.7 1.2 0.5 Royalty revenue 0.1 0.3 0.2 0.3 0.5 0.2 Total revenue 3.9 13.4 9.5 8.1 27.8 19.7 Cost of xPloration revenue 0.3 0.6 0.3 0.3 0.6 0.3 Research & development 10.9 9.6 (1.3) 23.5 19.2 (4.3) General & administrative 7.7 6.7 (1.0) 15.6 13.3 (2.3) Amortization of intangibles 3.2 3.1 (0.1) 6.5 9.1 2.6 Other operating expense (income), net (1.9) 0.2 2.1 (2.7) 0.1 2.8 Total costs and operating expenses 20.1 20.1 (0.0) 43.1 42.3 (0.8) Loss from operations (16.2) (6.7) 9.6 (35.1) (14.5) 20.6 Other income (expense), net 0.5 0.4 (0.1) 1.0 1.0 (0.0) Loss before income taxes (15.8) (6.2) 9.5 (34.1) (13.5) 20.6 Income tax benefit (expense) (0.1) 0.4 0.5 (0.0) (0.1) (0.1) Net loss ($ 15.9) ($ 5.9) $ 10.0 ($ 34.1) ($ 13.6) $ 20.5 Net loss per share, basic and diluted ($ 0.15) ($ 0.05) ($ 0.32) ($ 0.11) Shares used in per share calculation 106.1 128.8 105.9 128.5
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17 Q2 2026 Cash Costs and Operating Expense (Non-GAAP) GAAP TO NON-GAAP RECONCILIATION Cash Costs and Operating Expense = GAAP Costs and Operating Expense less stock-based compensation, depreciation and amortization of intangibles. Refer to OmniAb’s Q2 2026 Earnings Release for GAAP to non-GAAP reconciliation. Table includes rounded figures. Please reference press release dated 8/6/2026 for more detailed information. (in millions) Q2 2025 Q2 2026 2025 YTD 2026 YTD Costs and operating expenses (GAAP) $20.1 $20.1 $43.1 $42.3 Less: Depreciation of property and equipment 0.9 0.6 1.8 1.2 Less: Amortization of intangible assets 3.2 3.1 6.5 9.1 Less: Share-based compensation 4.1 3.2 8.3 6.5 Cash costs and operating expenses (Non-GAAP) $11.9 $13.3 $26.6 $25.5
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18 Balance Sheet Table includes rounded figures. Please reference press release dated 8/6/2026 for more detailed information. (in millions) December 31, June 30, 2025 2026 ASSETS Current assets: Cash & investments $ 54.0 $ 52.0 Accounts receivable, net 7.4 10.3 Other current assets 3.9 3.7 Goodwill & intangible assets 209.1 200.1 PPE & leases 25.0 22.9 Other assets 1.5 1.3 Total assets $ 300.9 $ 290.3 LIABILITIES AND STOCKHOLDERS’ EQUITY A/P & accrued expenses $ 8.2 $ 6.7 Contingent liabilities 1.4 1.0 Deferred revenue 3.2 2.6 Operating lease liabilities 20.3 18.9 Deferred income taxes, net 0.8 0.9 Stockholders’ equity 267.0 260.3 Total liabilities and stockholders’ equity $ 300.9 $ 290.3
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19 Updated 2026 Guidance • We now expect Total Revenue to be in the range of $32 to $36 million • We now expect Costs and Operating Expense to be in the range of $84 to $88 million • We now expect Cash Costs and Operating Expense(1) to be in the range of $51 to $55 million • We now expect year-end cash balance to be in the range of $37 to $41 million • Full Year effective tax rate is expected to be ~0% due to a valuation allowance (1) Cash Costs and Operating Expense = GAAP Costs and Operating Expense less stock-based compensation, depreciation and amortization of intangibles. Refer to OmniAb’s Q2 2026 Earnings Release for GAAP to non-GAAP reconciliation.
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20 Strong Financial Performance 2026 GUIDANCE Costs & Operating Expense Cash UseRevenue in millions Cash Costs & Operating Expense(1) (1) Cash Costs and Operating Expense = GAAP Costs and Operating Expense less stock-based compensation, depreciation and amortization of intangibles. Refer to OmniAb’s Q2 2026 Earnings Release for GAAP to non-GAAP reconciliation. $26.4 $18.7 $32-$36 $0 $20 $40 2024 2025 2026 Guidance 2026 Guidance $100.9 $87.6 $84-$88 $50 $100 2024 2025 2026 Guidance 2026 Guidance $60.3 $51.7 $51-$55 $0 $50 $100 2024 2025 2026 Guidance 2026 Guidance $38.9 $33.3 $13-$17 $0 $20 $40 2024 2025 2026 Guidance 2026 Guidance
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21 For more information, please visit www.omniab.com