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Twist Licenses Bispecific PlatformFebruary 2026
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2 Legal Disclaimer PROPRIETARY | TWIST BIOSCIENCE | This presentation contains forward-looking statements. All statements other than statements of historical facts contained herein are forward-looking statements the current beliefs and expectations of management made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, including, but not limited to, the ability to utilize the B-Body platform to expand service offerings and meet future demand for bispecific therapeutics and the expected impact on future revenue,market size and growth,ability and timing to achieve profitability, ability and timing to achieve adjusted EBITDA breakeven and Twist’s other expectations regarding its future operations plans and financial performance, introduction of new products, and newly announced partnerships. Forward-looking statements involve known and unknown risks, uncertainties, and other important factors that may cause Twist’s actual results, performance, or achievements to be materially different from any future results, performance, or achievements expressed or implied by the forward-looking statements. Such risks and uncertainties include, among others, the ability to attract new customers and retain and grow sales from existing customers; the ability of Twist to achieve sufficient revenue to achieve or maintain positive cash flow from operations or profitability in any given period; risks and uncertainties of rapidly changing technologies and extensive competition in synthetic biology that could make the products Twist is developing obsolete or noncompetitive; the ability to integrate and leverage artificial intelligence and machine learning technologies to improve operational efficiency, product development, and customer solutions; the ability to expand DNA synthesis manufacturing capacity; dependence on one supplier for a critical component; dependence on key personnel; additional regulations that could increase Twist’s costs and delay commercialization efforts; changes in U.S. trade policies and other trade actions that could result in increased costs and supply chain disruptions; risks associated with the spin out of Atlas Data Storage; the ability to maintain and enforce intellectual property protection; uncertainty as to economic and market conditions and the impact of adverse economic conditions; and the ability to obtain financing when necessary. For a description of the risks and uncertainties that could cause actual results to differ from those expressed in these forward-looking statements, as well as risks relating to Twist’s business in general, see Twist’s risk factors set forth in Twist’s Annual Report on Form 10-Kfiled with the SEC on November 17, 2025. Any forward-looking statements contained in this presentation speak only as of the date hereof, and Twist specifically disclaims any obligation to update any forward-looking statement, whether as a result of new information, future events or otherwise.The presentation also contains supplemental financial information determined by methods other than in accordance with U.S. generally accepted accounting principles("GAAP"). These non-GAAP measure are not in accordance with, or an alternative for, measures prepared in accordance with generally accepted accounting principles (GAAP) and may be different from non-GAAP measures used by other companies. In addition, these non-GAAP measures are not based on any comprehensive set of accounting rules or principles. A reconciliation of adjusted EBITDA for the fourth quarter of fiscal 2026 to a corresponding GAAP financial guidance measure is not available on a forward-looking basis because the Company does not provide guidance on GAAP net loss and is not able to present the various reconciling cash and non-cash items between GAAP net loss and adjusted EBITDA without unreasonable effort. In particular, stock-based compensation expense is impacted by the Company’s future hiring and retention needs, as well as the future fair market value of its common stock, all of which are difficult to predict and are subject to change. The actual amount of these expenses during fiscal 2026 will have a significant impact on Twist’s future GAAP financial results.
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Diverse Solutions, Many Applications PROPRIETARY | TWIST BIOSCIENCE |3 Powering the Design-Build-Test-Learn Cycle for Early-stage Biotech throughBig Pharma, Academic Research(Formerly SynBio and Biopharma) DNA Synthesis & Protein SolutionsEnabling Efficient and Effective Customized, Scalable Solutions for Cancer, Inherited and Rare Disease Diagnostics(Formerly NGS) NGS Applications* DiagnosticsPrecision MedicineTherapeuticsHealthChemicalsSustainabilityFoodFood Security *See Terms and Conditions
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4PROPRIETARY | TWIST BIOSCIENCE | StandardMonospecificAntibodiesHistorical /OtherBispecific AntibodiesB-Body®BispecificAntibodiesNumber of genes required2 2, 3, 4 4Molecular configurationNatural human heavy and light chains100’s of variations, many non-human and complex2 heavy, 2 light with nearly 100% human sequences Expression and purificationRobust and very standard methodsMix of standard and non-standard methods Production risks typically require significant process optimizationHighly aligned with standard monospecific methods Little process optimizationThroughput scalabilityAmenable to high throughputVery difficultAmenable to high throughput Manufacturing yieldsAverage ~4-6g/L and up to 10+g/LAverage ~1-3g/L and up to ~4g/LAverage ~4-6g/L and up to 10+g/L Plug-n-play with existing monospecific bindersN/ARequires significant engineering to create a developable solutionVery robust plug-n-play track record requiring little to no engineering AvailabilityOff patentOlder off patent platforms not robust significant developability risksNewer patented platforms owned, typically not available Patented with significant lifespan with the goal of global democratized access Bispecific Requirements and Challenges
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Twist Accelerates Discovery PROPRIETARY | TWIST BIOSCIENCE |5* Varies based on orders over 1000 clones, and total assay combination Rapid, Iterative and Scalable 2-4 Week Cycle* •Oligo synthesis (1 day)•Clonal gene production (4-5 days)•Protein expression (5-8 days) •Expressability•Developability•Functionality•Affinity•Cross reactivity Build Test Design Learn StartIn Silico Design Powering AI for Our CustomersData PackageBuilding LLMs(~X,000 sequences) Characterized AntibodyTraditional antibody discovery(~100 sequences) 5-10 days Test Build
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PROPRIETARY | TWIST BIOSCIENCE |6 We move up the customer value chain Industrial & AppliedAcademic &GovernmentTherapeuticsA Common Pattern Across Markets Biological Continuum Gene poolsClonal genes IgG antibody proteinsDNA prep (micro to maxi prep) End-to-end discovery services Gene fragments Antibody and bispecific characterization (data) Oligos Bispecific antibody proteins
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The B-Body ® platform enables high throughput functional discovery in the final therapeutic formatB-Bodies ® are designed for compatibility with standard manufacturing processes required for therapeutic development High Performance in Both Discovery and Manufacturing Invenra’s B-Body ® FamilyInvenra’s B-Body® Platform Binding Specificity #2Binding Specificity #1Bispecific 2x1 B-Body ®Bispecific 1x1 B-Body ®Monoclonal Ab Bispecific 2x2 B-Body ®
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•IP protected•Native antibody building blocks•Not recognized as foreign Maximizes Performance in Discovery and Manufacturing Plug-N-Play Variable DomainsB-Body ® Design
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B-Body® Platform Purity PROPRIETARY | TWIST BIOSCIENCE |9 1x1 Bispecific2x1 Bispecific VOLUME (mL)VOLUME (mL) •High purity & homogeneity after purification•Purification strategies compatible with standard platform processes•Long term stability•Thermostability SEC ANALYSIS Robust B-Body® Assembly Facilitates Single-Step Bispecific Purification B-Body Platform Members
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DNASynthesisAntibodyDiscovery ServicesProteinExpression PROPRIETARY | TWIST BIOSCIENCE | Targeting Multiple Large, Growing Markets DNA Synthesis & Protein Solutions$4B+ SAM* 10*BCC reports, DeciBio, Twist internal estimates Blended Market Growth Rate~10% $18BTAM$2B$1.5B $0.7B Growth Drivers:•AI enabled therapeutics discovery•Large pharma•Dry lab companies•Big tech companies•Traditional therapeutics discovery•Increasing market share•Bispecific discovery Our proprietary writing advantage significantly expands our SAM 2020 SAM for NGS and DNA Synthesis and Protein Solutions was $2B, 2025 SAM was $7B 2030 SAM estimated at $12B + More Upside for New Product Intros
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DNA Synthesis and Protein Solutions DNA Synthesis & Protein Solutions (DSPS) Business LineCustom Molecular Biology DNA ProteinDiscoveryCharacterizationData BiologicsGenesGene Fragment Cloned Genes Multiplexed Gene FragmentsGene Pools mRNAEarly accessDNA LibrariesOligo PoolsGene PoolsSVLSOLD Antibody LibrariesCVLLibrary of LibrariesAntibody ProductionAntibodiesHT IgGMed ScaleStable CHO/CLD DiscoveryIn VitroIn VivoAntibody DiscoveryEngineeringOptimizationAI-enabled discovery CharacterizationBindingDevelopabilityFunctionalAdvancedCustom Protein EngineeringProtein EngineeringTherapeuticsBispecificsTherapeuticsBispecificsTherapeuticsBispecificsTherapeuticsBispecifics Biologic continuum Applications PROPRIETARY | TWIST BIOSCIENCE |11 Protein EngineeringProtein EngineeringProtein EngineeringProtein EngineeringFunctional GenomicsAgricultural BioGene Editing
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License Agreement~$20M for co-exclusive license•$5M Cash•$15M stock •Twist receives all revenue generated from bispecific antibody discovery programs conducted by Twist •Twist receives all revenue generated from B-Body® licenses sold by Twist or Invenra; Invenra receives 20% royalty Equity Investment~$13.8M Financial Details PROPRIETARY | TWIST BIOSCIENCE |12Accretive to revenue and adj EBITDA* in FY27 and beyond •Acquiring ~6% ownership stake in Invenra through preferred stock purchase from existing Invenra investors *Adjusted EBITDA is defined as net income (loss) adjusted to exclude interest income,income tax expense, depreciation and amortization, other income/expense, net, stock-based compensation expense and other items that we believe are not indicative of our ongoing results.
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PROPRIETARY and CONFIDENTIAL | TWIST BIOSCIENCE |13 Profitable Growth Is In Sight AdjustedEBITDA Breakeven Q4 FY 2026 Growing markets and customers Investment in innovationdriving top line acceleration Continued operational andcommercial execution Sustained revenue and margin growth New products and AI offering
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Writing the Future