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February 23, 2026 VIR-5500 Strategic Collaboration with Astellas and Positive Phase 1 Data 2026 Vir Biotechnology, Inc. 1
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Legal disclaimer Forward-Looking Statements Statements in this presentation that are not statements of historical fact are forward-looking statements. Such forward-looking statements include, without limitation, statements regarding: the therapeutic and commercial potential of VIR-5500 and other assets within its oncology solid tumor portfolio, preclinical pipeline and the PRO-XTEN® masking technology, as well as Vir Biotechnology's strategy, plans and expectations related thereto; the therapeutic and commercial potential of Vir Biotechnology's CHD program, as well as Vir Biotechnology's strategy, plans and expectations related thereto; the potential of and Vir Biotechnology's expectations for its other pipeline programs; Vir Biotechnology’s and Astellas' immediate and potential future financial and other obligations under the collaboration agreement, including Vir Biotechnology's expectations to receive payments upon the closing of the transaction, the successful manufacturing technology transfer, and the achievement of future milestones, as well as from earned royalties; Vir Biotechnology's beliefs regarding Astellas as a collaboration partner for the VIR-5500 program and the potential benefits for Vir Biotechnology as a result of the collaboration; Vir Biotechnology's anticipated cash position and runway as a result of the agreement with Astellas and future capital allocation strategy; Vir Biotechnology's plans and expectations for VIR- 5500 and its other clinical development programs, including protocols for and enrollment into ongoing and planned clinical studies, potential partnering opportunities, and data readouts and presentations, as well as anticipated timelines; the potential benefits, safety and efficacy of Vir Biotechnology's investigational therapies; and any assumptions underlying any of the foregoing. Words such as “aim,” “anticipate,” “believe,” “could,” “expect,” “goal,” “intend,” “may,” “plan,” “potential,” “promising,” “will,” and similar expressions are intended to identify forward-looking statements, though not all forward- looking statements necessarily contain these identifying words. These forward-looking statements are based on the beliefs of the management of Vir Biotechnology, as well as assumptions made by and information currently available to management. Such statements reflect the current views of Vir Biotechnology with respect to future events and are subject to known and unknown risks, including, without limitation: unexpected safety or efficacy data or results observed during clinical studies or in data readouts, including the occurrence of adverse safety events; risks of unexpected costs, delays or other unexpected hurdles; the timing and amount of Vir Biotechnology's actual operating expenses, as determined in accordance with U.S. Generally Accepted Accounting Principles; difficulties in collaborating with other companies, some of whom may be competitors of Vir Biotechnology or otherwise have divergent interests, and uncertainty as to whether the benefits of Vir Biotechnology's various collaborations can ultimately be achieved; challenges in accessing manufacturing capacity; clinical site activation rates or clinical enrollment rates that are lower than expected; the timing and outcome of Vir Biotechnology's planned interactions with regulatory authorities, as well as general difficulties in obtaining any necessary regulatory approvals; successful development and/or commercialization of alternative product candidates by Vir Biotechnology's competitors, as well as changes in expected or existing competition; Vir Biotechnology's use of AI and machine learning in its efforts to engineer next- generation proteins and in other research and development efforts; geopolitical changes or other external factors; and unexpected litigation or other disputes. In light of these risks and uncertainties, the events or circumstances referred to in the forward-looking statements may not occur. Drug development and commercialization involve a high degree of risk, and only a small number of research and development programs result in commercialization of a product. Results in early-stage clinical studies may not be indicative of full results or results from later stage or larger scale clinical studies and do not ensure regulatory approval. The actual results may vary from the anticipated results and the variations may be material. Other factors that may cause Vir Biotechnology’s actual results to differ from current expectations are discussed in Vir Biotechnology’s filings with the U.S. Securities and Exchange Commission, including the section titled “Risk Factors” contained therein. These forward-looking statements should not be taken as forecasts or promises nor should they be taken as implying any indication, assurance or guarantee that the assumptions on which such forward-looking statements have been made are correct or exhaustive or, in the case of the assumptions, fully stated in this presentation. You are cautioned not to place undue reliance on any scientific data presented or these forward- looking statements, which speak only as of the date of this presentation. Except as required by law, Vir Biotechnology undertakes no obligation to publicly update any forward-looking statements, whether as a result of new information, future events or otherwise. Vir Biotechnology claims the protection of the safe harbor for forward-looking statements contained in the Private Securities Litigation Reform Act of 1995 for all forward-looking statements. Product candidates included in this presentation are investigational and have not been approved by the U.S. Food and Drug Administration or other regulatory authorities. No representation is made or intended regarding their safety or efficacy or that of other investigational agents mentioned herein. Any comparative data presented are based on cross-trial comparisons and not head-to-head clinical studies; therefore, caution should be exercised in interpreting these data. PRO-XTEN® is a trademark of Amunix Pharmaceuticals, Inc., a Sanofi company 22026 Vir Biotechnology, Inc.
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VIR-5500 Data Update Mark Eisner, M.D., M.P.H. Executive Vice President and Chief Medical Officer Agenda 32026 Vir Biotechnology, Inc. Strategic Rationale Marianne De Backer, M.Sc., Ph.D., MBA Chief Executive Officer and Director KOL Perspective Johann de Bono M.D., M.Sc., Ph.D., FRCP, FMedSci The Institute of Cancer Research and the Royal Marsden NHS Foundation Trust Financials Jason O’Byrne, MBA Executive Vice President and Chief Financial Officer
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4 VIR-5500 strategic collaboration with Astellas & Positive Phase 1 data 2026 Vir Biotechnology, Inc. Marianne De Backer, M.Sc., Ph.D., MBA
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VIR-5500 strategic collaboration with Astellas and new positive Phase 1 data Collaboration pairs Astellas’ world class capabilities in prostate cancer with Vir Bio’s potential best-in-class T-cell engager VIR-5500, powered by PRO-XTEN® masking technology i 2026 Vir Biotechnology, Inc. 5 New Phase 1 data at ASCO-GU show compelling safety and efficacy profile in prostate cancer, highlighting VIR-5500’s potential and validating PRO-XTEN® platform Deal economics enable rapid advancement of VIR-5500 in early and late-stage prostate cancer and position Vir Bio as an emerging leader in immuno-oncology ASCO-GU: American Society of Clinical Oncology Genitourinary Cancers Symposium; PSMA: prostate-specific membrane antigen
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Metastatic castration resistant prostate cancer (mCRPC) is an area of high unmet need with a significant market opportunity 62026 Vir Biotechnology, Inc. 1 in 8 Men diagnosed with prostate cancer in their lifetime1 ~30% mCRPC 5-year survival rate2 1 https://www.cancer.org/cancer/types/prostate-cancer/about/key-statistics.html; 2 https://pubmed.ncbi.nlm.nih.gov/40200467/; 3 Clarivate DRG, projected drug treated patients, 2032; 4 https://doi.org/10.1084/jem.20251652 9 TCE breakthrough immunotherapies already on the market in hematological malignancies4 Application in solid tumors limited due to toxicity and off-tumor activation~100k Estimated late-line and early- line mCRPC patients (U.S. & EU)3 T-cell engagers (TCEs) represent a promising new approach for treatment of solid tumors
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VIR-5500 is positioned to be a best-in-class TCE designed to address the unmet need in mCRPC 72026 Vir Biotechnology, Inc. VIR-5500: PSMA-targeted dual masked TCE Specific cleavage of masks by proteases in the tumor microenvironment Data affirm a favorable safety and tolerability profile Powered by PRO-XTEN® technology Phase 1 Data indicate VIR-5500 is potential best-in-class Designed to reduce toxicity, enabling higher dosing and wider therapeutic window Treatment with VIR-5500 provided dose-dependent anti-tumor activity as measured by PSA declines, radiographic RECIST and PSMA-PET responses Longer drug half-life supports optimization of dosing schedules mCRPC: metastatic castration-resistant prostate cancer; PET: positron emission tomography ; PSA: Prostate-specific antigen; PSMA: prostate-specific membrane antigen; RECIST: Response Evaluation Criteria in Solid Tumors; TCE: T-cell engager
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Astellas is the partner-of-choice in prostate cancer, with proven track record of successful co-development with biotech partners 82026 Vir Biotechnology, Inc. Astellas Corporate Presentation and Website; XTANDI® and PADCEV® are trademarks of Astellas and Pfizer Inc. 1L: first-line Track record of co-development Co-developed XTANDI® with Medivation (now Pfizer) – achieving market leadership status in prostate cancer Co-developed PADCEV® (enfortumab vedotin-ejfv) with Seagen (now Pfizer) – the standard of care across 1L urothelial carcinoma Global clinical development capabilities Operates in ~70 countries with leading in-house development capabilities XTANDI® studied in over 30 prostate cancer clinical trials, successful vison for post-approval lifecycle management, label expansion Market leader in prostate cancer XTANDI® (enzalutamide) is the #1 drug for prostate cancer worldwide XTANDI® generated $6B in sales in FY 2024 >1.5M men treated with XTANDI® globally
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Global strategic collaboration with Astellas maximizes potential of VIR-5500 in prostate cancer1 92026 Vir Biotechnology, Inc. Strategic collaboration overview $1.7B In upfront payments and milestones2 50/50 profit/loss share in the U.S. Co-promote option for Vir Bio 40/60 Vir Bio / Astellas global development cost share4 Tiered, double-digit royalties on ex-U.S. net sales Positions Vir Bio to accelerate clinical development of VIR-5500 into pivotal trials in 2027 1 Transactions with Astellas are subject to customary closing conditions, including regulatory approvals. 2 Amounts shown exclude payments to third parties. Sanofi is entitled to 20% of certain collaboration proceeds, including: upfront, equity premium, and the portion of milestones, profit share & royalties that exceed the amounts already owed to Sanofi under the terms of the existing Sanofi agreement, effective September 9, 2024. 3 Through a sharing of expenses and revenues. 4 R&D cost share: Global studies Vir Bio 40% & Astellas 60%; U.S.-specific studies Vir Bio 50% & Astellas 50%; ex-U.S.-specific studies Astellas 100% VIR-5500 co-development and co-commercialization in prostate cancer3
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10 Positive Phase 1 data for VIR-5500 in prostate cancer Validates PRO-XTEN® Platform 2026 Vir Biotechnology, Inc. Mark Eisner, M.D., M.P.H.
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VIR-5500 monotherapy study of PSMA-targeted dual-masked TCE in prostate cancer 112026 Vir Biotechnology, Inc. All dose escalation cohorts have cleared DLT (N=58) No requirement of prophylactic steroids or IL-6 therapy except for exploratory analysis in high dose cohort (n=3) Eligibility criteria: • Documented progressive metastatic CRPC • ≥ 1 prior taxane regimen • ≥ 1 prior ARPI • 0 to 1 ECOG status • Life expectancy >6 months 60 µg/kg (N=3) 120 180 180 µg/kg (N=4) 300 600 1000 µg/kg (N=4) 500 1000 2000 µg/kg (N=3) 30 µg/kg (N=3) 200 300 400 µg/kg (N=5) 1000 2000 3000 µg/kg (N=4) QW dose escalation (N=26) Q3W dose escalation (N=32) 300 600 1000 µg/kg (N=6) 500 1000 2000 µg/kg (N=4) 1000 2000 3000 µg/kg (N=5) 800 2000 3500 µg/kg (n=9) 1000 2000 4000 µg/kg w/ Prophylactic Steroids (N=3) 800 1500 3000 µg/kg (N=5) ARPI: androgen receptor pathway inhibitor; CRPC: castration-resistant prostate cancer; DLT; dose limiting toxicities; ECOG; Eastern Cooperative Oncology Group; PSMA: prostate-specific membrane antigen; QW: once weekly; Q3W: once every 3 weeks; TCE: T-Cell Engager VIR-5500-V101 ClinicalTrials.gov Identifier: NCT05356741 Data as of: January 9, 2026
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Late-line mCRPC population including patients with liver metastases 122026 Vir Biotechnology, Inc. Median age, years (range) 68 (49-81) Prior lines of therapy (Any Setting) Number, Median (Min, Max) Prior Taxane, n (%) Prior ARPI, n (%) Prior PSMA-radioligand therapy a, n (%) 4 (2, 7) 55 (94.8) 58 (100) 7 (12.1) Baseline Central PSA, ng/mL Median (min, max) 79 (4, 3708) Disease Characteristics RECIST-evaluable b, n (%) Bone metastases, n (%) Lymph node metastases, n (%) Visceral metastases c, n (%) Liver metastases, n (%) 30 (51.7) 52 (92.9) 18 (32.1) 25 (44.6) 10 (17.9) VIR-5500 baseline characteristics NCT05997615 VIR-5500 N=58 a 4 of 7 Prior PSMA-radioligand therapy treated patients received VIR-5500 doses ≤ 120 µg/kg. b RECIST-evaluable population is defined as having measurable disease documented at baseline according to RECIST v1.1 criteria and at least one follow-up tumor assessment after a full cycle of treatment c Visceral metastases include site of lesions in lung, adrenal and liver. Max: maximum; mCRPC; metastatic castration-resistant prostate cancer; Min: minimum; N: number of participants; PSA: prostate-specific antigen; PSMA: prostate-specific membrane antigen; RECIST: Response Evaluation Criteria in Solid Tumors; STEAP1: Six-transmembrane epithelial antigen of the prostate 1; TCE: T Cell Engager VIR-5500-V101 ClinicalTrials.gov Identifier: NCT05997615. Data as of: January 9, 2026 Study & enrollment details: Heavily pre-treated participants: • Median 4 prior lines of therapy • 95% prior taxanes in any setting* • 12% prior PSMA-radioligand therapy (mostly in low dose cohorts) • 2 with prior STEAP1 TCE Significant disease burden in all cohorts: • 93% of subjects with bone metastases • 45% visceral metastases o 18% liver metastases (poor prognosis) *Participants who were deemed clinically unsuitable to be treated with a taxane regimen or have refused treatment with a taxane regimen are considered eligible.
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VIR-5500 Phase 1 study shows favorable safety profile with meaningful anti-tumor activity 132026 Vir Biotechnology, Inc. Well tolerated with no dose limiting toxicities Dose-dependent and meaningful anti-tumor activity CRS All Grades 59% (13/22) Grade 1 50% (11/22) Grade 2 9% (2/22) Grade 3 0 PSA Response PSA50 82% (14/17) PSA90 53% (9/17) PSA99 29% (5/17) • Emerging evidence of durable PSA50, PSA90 and RECIST responses Early signs of PSA and radiographic durability *RECIST-evaluable population is defined as having measurable disease documented at baseline according to RECIST v1.1 criteria and at least one follow-up tumor assessment after a full cycle of treatment CRS: cytokine release syndrome; DLT: dose limiting toxicities;G3+: Grade ≥ 3; ORR; objective response rate; PSA: prostate-specific antigen;Q3W; once every 3 weeks; RECIST: Response Evaluation Criteria in Solid Tumors; TRAE: treatment related adverse event VIR-5500-V101 ClinicalTrials.gov Identifier: NCT05997615. Data as of: January 9,2026 ≥3,000 µg/kg Q3W • 12% Grade ≥ 3 TRAEs • Limited CRS 50% (29/58) primarily seen in first cycle and mostly Grade 1 (Fever Only) • No DLTs • Clear dose-response relationship with deeper PSA declines observed with higher doses • 45% (5/11) ORR of RECIST-evaluable* patients (Q3W ≥3,000 µg/kg) • 4 patients confirmed up to Week 27 • 1 patient pending confirmation Safety evaluable population is defined as all enrolled participants who have received at least one dose of VIR-5500. PSA evaluable population is defined as participants who received ≥1 cycle of VIR-5500 and must have at least one pre- treatment and at least one post-treatment PSA measurement. PSA 50, PSA decline of 50%-100% from baseline; PSA90, PSA decline of 90%-100% from baseline; PSA99, PSA decline of 99%-100% from baseline
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14 KOL perspective 2026 Vir Biotechnology, Inc. Johann de Bono M.D., M.Sc., Ph.D., FRCP, FMedSci
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Case Study 1: complete resolution of multiple (>14) liver lesions at Week 9; PSA99 152026 Vir Biotechnology, Inc. Case study detail • 63-year-old male • High disease burden: liver and bone lesions • 5 Prior Lines of Treatment: Docetaxel, Olaparib, Cabazitaxel, Abiraterone, MOMA-313-001 • uPR, 63% decrease in tumor diameter • Metabolic response of PSMA-avid bone and hepatic lesions • Patient bone pain resolved • Continues on treatment (Cycle 6) PSA: prostate-specific antigen; PSMA: prostate-specific membrane antigen; Q3W: once every 3 weeks; uPR; unconfirmed partial response VIR-5500-V101 ClinicalTrials.gov Identifier: NCT05997615. Data as of: January 9, 2026 Q3W Cohort 800/1500/3000 µg/kg Baseline PSA 99 ng/mL Week 9 PSA 0.4 ng/mL PSMA-PET PSMA-PET Whole Body MRI Whole Body MRI 99% PSA Decline
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Case Study 2: significant RECIST response in large liver lesions 162026 Vir Biotechnology, Inc. Case study detail • 75-year-old male • High disease burden; liver and lymph- nodes (no bone lesions) • 6 Prior Lines of Treatment: Enzalutamide, Docetaxel, Cabazitaxel, and NX-1607 • Confirmed PR, 46% decrease in tumor diameter • Disappearance of majority of PSMA-avid hepatic lesions • Continues on study (Cycle 10) PR: partial response; PSA: prostate-specific antigen; PSMA: prostate-specific membrane antigen; Q3W: once every 3 weeks; RECIST: Response Evaluation Criteria in Solid Tumors; VIR-5500-V101 ClinicalTrials.gov Identifier: NCT05997615. Data as of: January 9, 2026 Q3W cohort 800/2000/3500 µg/kg Week 9 PSA 44 ng/mL Baseline PSA 403 ng/mL 2 lymph-node lesions, SLD changes: A) 2.1 to 2.0 cm; B) 2.7 to 1.7 cm 2 Liver Lesions SLD Changes: •6.3 to 3.1 cm •3.2 to 1.2 cm 94% Best PSA Decline
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Case Study 3: durable RECIST, PSMA-PET and deep PSA response up to 8 months 172026 Vir Biotechnology, Inc. Case study detail • 70-year-old male with peritoneal and abdominal wall lesions • 3 Prior lines of Treatment: Enzalutamide, Docetaxel, Cabazitaxel • Confirmed PR, complete resolution of small lesions • Ongoing sustained PSA90 response at 8 months • Complete PSMA-PET response • Excellent Quality of life • Continues on study (Cycle 10) Week 9Baseline Week 18 Baseline Week 27 PSMA-PET CT/MRI Week 9 PET: positron emission tomography; PR: partial response; uPR: unconfirmed partial response; PSA: prostate-specific antigen; PSMA: prostate-specific membrane antigen; Q3W: once every 3 weeks; RECIST: Response Evaluation Criteria in Solid Tumors VIR-5500-V101 ClinicalTrials.gov Identifier: NCT05997615. Data as of: January 9, 2026 Q3W cohort 800/2000/3500 µg/kg Week 9Baseline Week 18 CT/MRI PSA 15 ng/mL PSA 0.3 ng/mL PSA 0.1 ng/mL
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Case Study 4: complete response in diffuse lesions with prior radioligand therapy 182026 Vir Biotechnology, Inc. LN, 40x mag PSMA membrane H-score 1401 100% tumor PSMA+ T cell abundance 0 PSMA H-score 0 No malignancy identified T cell abundance 4 Baseline Week 5 LN, 40x mag LN 10x mag LN, 10x mag Complete Response in Lymph Node Brown = PSMA+ tumor cells Pink = CD3 T cells Lymph Node Biopsy PSMA/CD3 Duplex IHC LN, 40x mag Week 9 PSA 0.05 ng/mL Baseline PSA 81 ng/mL Q3W Cohort 1000/2000/4000 µg/kg with Prophylactic Steroids AR: androgen receptor; CD3: cluster of differentiation 3; CR: complete response H-score: histo-score; IHC: immunohistochemistry; PD: progressive disease; PSA: prostate-specific antigen; PSMA: prostate-specific membrane antigen; Q3W: once every 3 weeks; RLT: radioligand therapy VIR-5500-V101 ClinicalTrials.gov Identifier: NCT05997615. Data as of: January 9, 2026 Case Study Detail • 63-year-old male with lymph-node and bone lesions • 5 prior lines of Treatment including Enzalutamide, Docetaxel, TAS3681 AR antagonist, and RLT ( 225Ac-pelgifatama) • CR for target lesions and non-CR/non-PD for non-target bone lesions; PSA99 at Cycle 2 Day 1 (Week 4) • Excellent quality of life, with significant reduction in pain • Patient withdrew from the study on Cycle 5, while in remission since deriving significant benefit 99% PSA Decline PSMA PET PSMA PET
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Case Study 5: complete response with ~12 months of durability 192026 Vir Biotechnology, Inc. 14-Jan-2025 3-Jun-2025 21-Oct-2025 0 20 40 60Local PSA (ng/mL) C1D1 C3D1 C5D1 C7D1 C9D1 C11D1 C13D1 C15D1 C17D1 9 Week Scans SD Baseline Scans 18 Week Scans SD 27 Week Scans CR (NTL) 39 Week Scans CR (NTL) Baseline Week 9 Baseline Week 9 Baseline Week 9 Week 18 Week 27 Q3W cohort 300/600/1000 µg/kg Case study detail • 77-year-old male • Significant disease burden including >20 bone lesions and positive lymph nodes • 4 prior lines of Treatment: • Darolutamide, Abiraterone, Olaparib, and Docetaxel • Complete Response per PCWG3 at Cycle 9/Week 27 • Significant PSA responder with PSA90 response starting at Cycle 3 Day 1 and PSA currently undetectable • Continues on treatment (Cycle 17) PSA 42 ng/mL PSA 0.6 ng/mL CR: complete response; NTL: non-target lesion; PCWG3: prostate cancer working group 3; PSA: prostate-specific antigen; Q3W: once every 3 weeks; SD: stable disease VIR-5500-V101 ClinicalTrials.gov Identifier: NCT05997615. Data as of: January 9, 2026
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20 Positive Phase 1 data for VIR-5500 in prostate cancer validates PRO-XTEN® platform 2026 Vir Biotechnology, Inc. Mark Eisner, M.D., M.P.H
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Well-tolerated with favorable safety profile 12% grade ≥ 3 TRAEs, limited CRS, mostly grade 1 (Fever Only), and no DLTs 212026 Vir Biotechnology, Inc. TEAEs in any Participant n (%) (N=58) Any TEAE 58 (100) Related TEAE 50 (86.2) Serious Related TEAE 17 (29.3) Related Grade ≥ 3 TEAE# 7 (12.1) TEAE Leading to Treatment Discontinuation^ 2 (3.4) Treatment Related AEs (Most Frequent) in Doses ≥3,000 µg/kg Q3W (N=22) Preferred Term Grade 1 Grade 2 Grade ≥ 3 Participant with at least 1 TRAE 9 (41) 9 (41) 3(14)1 Cytokine Release Syndrome 11 (50) 2 (9) 0 Back Pain 3 (14) 2 (9) 0 Fatigue 3 (14) 2 (9) 0 Infusion Related Reaction 4 (18) 1 (5) 0 Anemia 1 (5) 3 (14) 0 Asthenia 4 (18) 0 0 Nausea 4 (18) 0 0 Blurred Vision 1 (5) 0 2 (9) 0 1 2 3 4 5 6 7 8 9 800/1500/3000 µg/kg (n=5) 1000/2000/3000 µg/kg (n=5) 800/2000/3500 µg/kg (n=9) 1000/2000/4000 µg/kg with C1 Steroid Prophylaxis^ (n=3) Grade 1 Grade 2 Grade ≥ 3 1 G3 Neutropenia (2), G3 Tumor Flare, G3 Bone Pain (2), G3 Lymphocyte Decrease; G3 Vision Blurred, G4 Vision Blurred Limited High-Grade Events and Tx Discontinuations Low Grade CRS in Doses ≥3,000 µg/kg Q3W (N=22) Limited transaminase elevation Very Low incidence of hypoacusis, xerostomia, dry eye, stomatitis or dysgeusia; Grade 1 only1 No DLTs* No ICANS * Two blurred vision events at the 4,000 ug/kg dose were reviewed and incorporated into dose-escalation considerations and ongoing study conduct ^ 4-8 mg of Dexamethasone premedication in cycle 1 evaluated in 1000-2000-4000 ug/kg Q3W cohort. 1 Grade 1 events: Dry Mouth/Xerostomia (4), Dry Eye (2), Hypoacusis (5), Stomatitis (1), Dysgeusia (1), Renal toxicities (2); as well as 3 unrelated SAEs of Acute Kidney Injury and Hematuria AE: adverse event; C1: cycle one; CRS: cytokine release syndrome; DLT: dose limiting toxicities; ICANS: immune effector cell- associated neurotoxicity syndrome; Q3W: once every 3 weeks; TEAE: treatment emergent adverse event VIR-5500-V101 ClinicalTrials.gov Identifier: NCT05997615. Data as of: January 9, 2026 No requirement of prophylactic steroids or IL-6 therapy except for exploratory analysis in high dose cohort (n=3) Participants with CRS (n) No Prophylactic Steroids or Anti-IL-6 # Related Grade ≥ 3 TEAE: AST increased, neutrophil count decreased, WBC count decreased, cytokine release syndrome (in participant at 200-300-400 ug/kg undergoing intraparticipant dose escalation), tumor flare/arthralgia, neutropenia, blurred vision, lymphocyte count decreased, bone pain ^ One unrelated spinal cord compression requiring radiation therapy and one Grade 4 treatment- related blurred vision event that improved, with unclear pathophysiology & non-specific MRI findings.
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Dose response relationship: deeper PSA declines and confirmed PSA responses at higher doses 222026 Vir Biotechnology, Inc. 1 Prior Radioligand therapy 2 Prior STEAP1 TCE # PCWG3 (Prostate Cancer Working Group 3) measured PSA rise or fall at ≥C2D1. Y-axis truncated at 100. All Best PSA %Changes occurred prior to intra-patient dose escalation ^ CRS event grade at dose indicated, prior to any intra-patient dose escalation C1: cycle one; PSA: prostate-specific antigen VIR-5500-V101 ClinicalTrials.gov Identifier: NCT05997615. Data as of: January 9, 2026 0 1 2^CRS Grade Confirmed PSA Response at ≥ 3 weeks * -100 -50 0 50 100PSA Best % Change from Baseline (PCWG3)# 30 μg/kg QW 60 μg/kg QW 200/300/400 μg/kg QW PSA50 PSA90 300/600/1000 μg/kg QW 120/180/180 μg/kg QW 500/1000/2000 μg/kg QW 500/1000/2000 μg/kg Q3W 1000/2000/3000 μg/kg QW 300/600/1000 μg/kg Q3W 1000/2000/3000 μg/kg Q3W 800/2000/3500 μg/kg Q3W 1000/2000/4000 μg/kg Q3W (+C1 Steroid Prophylaxis) 800/1500/3000 μg/kg Q3W * * * * * * * * * * * * * * * ** * * * * * * 1 22 1 11
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-100 -75 -50 -25 0 25 50 75 100 PSA Best % Change from Baseline (PCWG3)^ PSA50 PSA90 1000/2000/3000 μg/kg Q3W 1000/2000/4000 μg/kg Q3W (+C1 Steroid Prophylaxis) 800/2000/3500 μg/kg Q3W 800/1500/3000 μg/kg Q3W * *** *** * * * ** * Deep PSA declines observed as early as Cycle 1 Day 8, evidence of concordant RECIST responses in evaluable patients 232026 Vir Biotechnology, Inc. Doses ≥ 3000 ug/kg Q3W Significant Anti-tumor Responses: • Rapid and deep responses as soon as Cycle 1 Day 8 • Participants with the deepest PSA responses (PSA 90 & PSA99) often had confirmed RECIST responses Any PSA Decline 15/17 (88%) PSA50 14/17 (82%) PSA90 9/17 (53%) PSA99 5/17 (29%) ≥ 3000 µg/kg Q3W PSA50, PSA decline of 50%-100% from baseline; PSA90, PSA decline of 90%-100% from baseline; PSA99, PSA decline of 99%-100% from baseline Evaluable participants who received ≥1 cycle of VIR-5500 PCWG3 measured PSA at ≥C2D1. Y-axis truncated at 100 VIR-5500-V101 ClinicalTrials.gov Identifier: NCT05997615. Data as of: January 9, 2026 0 1 2CRS Grade Visceral Mets2 RECIST Response CRS GradePD PD SD PD SD PD NM NM NM cPR cPR NM NM NM cPR uPR1 cCR + + + - - + - - - + + - - - + + - Confirmed PSA Response at ≥ 3 weeks * 1 Week 18 visit pending for RECIST confirmation 2 Visceral metastases include site of lesions in lung, adrenal and liver 3 Prior Radioligand therapy C1: cycle one; cCR: confirmed complete response; cPR: confirmed partial response; CRS: cytokine release syndrome; NM: non-measurable disease; PD: progressive disease; PR: partial response; PSA: prostate-specific antigen; Q3W: once every 3 weeks; RECIST: Response Evaluation Criteria in Solid Tumors; SD: stable disease; uPR: unconfirmed partial response 3
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Reduction in PSMA total tumor volume by central PSMA PET analysis, RECIP responses associated with deep PSA declines and RECIST responses 242026 Vir Biotechnology, Inc. Complete Response Partial Response Stable Disease Progressive Disease RECIP 1.0 Classification PSA99 PSA90 PSA50 PSA 0-50% decrease PSA Increase Best PSA Response RECIP Response PSA Response RECIST ResponsePD PD NM cPR PD NM NM cPR SD cPR uPR* cCR NM Imaging performed at baseline and at 9 weeks, or EOT, whichever comes first. PSMA-Total Tumor Volume is the sum of all PSMA-avid lesions (bone and soft tissue) in cubic centimeters. https://pubmed.ncbi.nlm.nih.gov/40473460/ Y-axis truncated at 100% C1: cycle one; cCR: confirmed complete response; cPR: confirmed partial response; EOT: end of treatment; NM: non-measurable disease; PD: progressive disease; PET: positron emission tomography; PSA: prostate-specific antigen; PSMA; prostate-specific membrane antigen; Q3W: once every 3 weeks; RECIP: Response Evaluation Criteria in PSMA; RECIST: Response Evaluation Criteria in Solid Tumors; SD: stable disease; uPR: unconfirmed partial response -100 -50 0 50 100 % Change in PSMA Total Tumor Volume (PSMA-PET) 800/2000/3500 μg/kg Q3W 1000/2000/3000 μg/kg Q3W 1000/2000/4000 μg/kg Q3W (+C1 Steroid Prophylaxis) 800/1500/3000 μg/kg Q3W -30 1 Prior Radioligand therapy 1 Doses ≥ 3000 ug/kg Q3W
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-80 -60 -40 -20 0 20 40 60 80 100 -62.80-62.50-59.70 -48.70-46.00 -16.40 -11.36-10.90 0.00 26.70 71.43 Best Change from Baseline in RECIST SLD (%) 1000/2000/3000 μg/kg Q3W PSA50 PSA90 800/2000/3500 μg/kg Q3W 1000/2000/4000 μg/kg Q3W (+C1 Steroid Prophylaxis) 800/1500/3000 μg/kg Q3W Measurable Lesion Site Liver Liver, Adrenal Adrenal gland Liver, Abdom wall Lymph nodes Lymph node Liver, LN Lymph Nodes Peritoneal implants Lymph node Liver Best Overall Response PD PD PD (new lesions) SD SD PD (new lesions) cPR cPR cPR cCR uPR (Wk 18 pending) PSMA PET Response (SUVmax) Not available -79.6% 8.3 -78% -64.1% -22.6% -89.7% -95% -81% -88.2% -97.3% Robust RECIST responses with VIR-5500 monotherapy in RECIST-evaluable participants 252026 Vir Biotechnology, Inc. ORR 45% (5/11)* DCR 64% (7/11) * 4 patients with confirmed responses and 1 patient pending confirmation Imaging performed every 9 weeks Baseline Assessment: patient must have measurable disease per RECIST criteria at baseline Post-Baseline Assessment: at least one follow-up tumor assessment after starting treatment is required to determine response (CR, PR, SD, PD) C1: cycle one; cCR: confirmed complete response; cPR: confirmed partial response; DCR: Disease Control Rate (includes SD+PR+CR); NM: non- measurable disease; ORR: objective response rate; PD: progressive disease; PET: positron emission tomography; PR: partial response; PSA: prostate- specific antigen; PSMA: prostate-specific membrane antigen; Q3W: once every 3 weeks; RECIST: Response Evaluation Criteria in Solid Tumors; SD: stable disease; SLD: sum of longest diameters; QW: once weekly; PD: progressive disease; uPR: unconfirmed partial response 1 Prior Radioligand therapy 1 Doses ≥ 3000 ug/kg Q3W
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-80 -60 -40 -20 0 20 40 60 80 Months since first treatment % Change from Baseline (RECIST SLD) 800/1500/3000 μg/kg Q3W 800/2000/3500 μg/kg Q3W 1000/2000/3000 μg/kg Q3W 1000/2000/4000 μg/kg Q3W (+ C1 Steroid Prophylaxis) 1 2 3 4 5 60 RECIST responses concordant with deep PSA responses 262026 Vir Biotechnology, Inc. Doses ≥ 3000 ug/kg Q3W cPR, PSA90 cCR, PSA90 cPR,PSA90cPR, PSA90 uPR*, PSA90 Initial Stable Disease followed by disease progression due to metastases to the liver and new bone metastases resulting in spinal fracture Progressive Disease with metastasis to liver and lungs leading to discontinuation; only received 3 cycles of treatment Progressive Disease with PSMA-negative lesions in the liver; only received 2 cycles of treatment PSA50 PSA50 PSA50 Ongoing Imaging performed every 9 weeks * Week18 visit pending C1: cycle one; cCR: confirmed complete response; cPR: confirmed partial response; ORR: objective response rate; PSA: prostate- specific antigen; PSMA: prostate-specific membrane antigen; Q3W: once every 3 weeks; RECIST: Response Evaluation Criteria in Solid Tumors; SLD: sum of longest diameters; uPR: unconfirmed partial response VIR-5500-V101 ClinicalTrials.gov Identifier: NCT05997615. Data as of: January 9, 2026 Radiographic responses at efficacious Q3W dose levels • 45% (5/11) ORR in RECIST-evaluable patients • All evaluable responders achieved confirmed responses; 1 patient pending confirmation • Tumor shrinkage across multiple lesions and patients, providing evidence of effective T-cell engagement
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Emerging evidence of PSA and radiographic durability 272026 Vir Biotechnology, Inc. Doses ≥ 3000 ug/kg Q3W, CRS Restricted to Early Cycles *101-1007: PSMA-positive brain lesions, early progressor, received 3 cycles of VIR-5500 ^101-1006: PSMA-negative liver lesions, early progressor, received 2 cycles of VIR-5500 cCR: confirmed complete response; cPR: confirmed partial response; CRS: cytokine release syndrome; G1: Grade 1; G2: Grade 2; PSA: prostate-specific antigen; Q3W: once every 3 weeks; uPR: unconfirmed partial response VIR-5500-V101 ClinicalTrials.gov Identifier: NCT05997615. Data as of: January 9, 2026 0 2 4 6 8 10 Months * ^ Time on Treatment Ongoing PSA50 PSA90 uPR cPR cCR G1 CRS G2 CRS 800 / 1500 / 3000 µg/kg 1000 / 2000 / 3000 µg/kg 800 / 2000 / 3500 µg/kg 1000 / 2000 / 4000 µg/kg
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Progressing toward initiating Expansion Dose Cohorts in Q2 2026 • Late-line mCRPC (Monotherapy) • Early-line mCRPC (Combination) • mHSPC (Combination) Initial monotherapy recommended expansion dose Next steps for VIR-5500: rapid advancement into earlier treatment setting in prostate cancer 282026 Vir Biotechnology, Inc. Conclusion of monotherapy QW and Q3W dose escalation in late-line mCRPC Plans to initiate Phase 3 program in 2027 QW: once weekly; Q3W: once every 3 weeks; mCRPC: metastatic castration-resistant prostate cancer; mHSPC: metastatic hormone-sensitive prostate cancer
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29 Financial summary 2026 Vir Biotechnology, Inc. Jason O’Byrne, MBA
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Collaboration summary: accelerates development, access to expertise, and delivers attractive economics1,2 302026 Vir Biotechnology, Inc. Scope Global development and commercialization collaboration for VIR-5500 in prostate cancer 1 Transactions with Astellas are subject to customary closing conditions, including regulatory approvals. 2 Amounts shown exclude payments to third parties. Sanofi is entitled to 20% of certain collaboration proceeds, including: upfront, equity premium, and the portion of milestones, profit share & royalties that exceed the amounts already owed to Sanofi under the terms of the existing Sanofi agreement, effective September 9, 2024. 3 R&D cost share: Global studies Vir Bio 40% & Astellas 60%; U.S.-specific studies Vir Bio 50% & Astellas 50%; ex-U.S.-specific studies Astellas 100% 4 Near-term milestone represents a $20M manufacturing technology transfer payment,anticipated mid-2027. 5 Equity investment at $10.36 per share, a 50% premium to theVIR 30-day VWAP, as of February 17, 2026. Commercial rights U.S. commercialization based on 50/50 profit share Vir Bio option to U.S. co-promote Ex-U.S. Astellas has exclusive rights to commercialize Global development cost share 40 / 60 global development cost share (Vir Bio / Astellas)3 Upfront and near-term payments4 $240M in upfront cash and $75M from equity5 $20M near-term milestone payment $335M combined upfront and near-term payments Additional milestones Up to $1.37B in additional development, regulatory and ex-U.S. sales milestones Royalties Tiered double-digit royalties on ex-U.S. net sales
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2025 financial results Years Ended December 31, $ in millions (except for headcount) 2025 2024 Change % Total revenues $68.6 $74.2 $(5.6) (8%) Operating expenses: Cost of revenue − 0.8 (0.8) (100%) Research and development 456.0 506.5 (50.5) (10%) Selling, general and administrative 92.1 119.0 (26.9) (23%) Restructuring, long-lived assets Impairment and related charges, net (0.2) 35.0 (35.2) (101%) Total operating expenses 547.9 661.4 (113.5) (17%) Loss from operations (479.3) (587.2) 107.9 (18%) Total other income 41.6 64.1 (22.5) (35%) (Provision for) benefit from income taxes (0.2) 1.1 (1.3) (118%) Net loss $(438.0) $(522.0) $84 (16%) Ending headcount (full-time & part-time) 367 408 (41) (10%) 312026 Vir Biotechnology, Inc. 1 Vir Bio reported cash, cash equivalents and investments of $782 million as of December 31, 2025. 2 Cash runway projection based on the current operating plan and incorporating the effects of the Astellas collaboration agreement. Numbers above may not tie due to rounding. Cash and cash equivalents of $782M1 as of December 31, 2025 Including effects of recent collaborations, guiding runway into Q2’282
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32 Closing remarks: Advancing immune-powered therapies to transform patient care 2026 Vir Biotechnology, Inc. Marianne De Backer, M.Sc., Ph.D., MBA
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Our clinical pipeline of masked TCEs demonstrates promise of the PRO-XTEN® platform 332026 Vir Biotechnology, Inc. Universal masking platform allows us to rapidly expand into other solid tumors with high unmet need 7 preclinical programs across solid tumors, including lung, colorectal and bladder cancers Progressing to development candidate selection by early 2027 The only dual masked TCE in clinical development for prostate cancer Well-tolerated with favorable safety profile Potent anti-tumor activity Potential to move into earlier treatment settings and initiate pivotal trials in 2027 The only masked TCE in clinical development for HER2 tumors PD-1 combination dose escalation ongoing Phase 1 dose escalation data in 2H’26 Dual-masked TCE in clinical development for EGFR tumors (incl. NSCLC, CRC, HNSCC, and others) First patient dosed on July 25, 2025 Phase 1 initial dose escalation data TBD VIR-5500 (PSMA) VIR-5818 (HER2) VIR-5525 (EGFR) 7 Preclinical Programs CRC: colorectal cancer; EGFR: epidermal growth factor receptor; HER2: human epidermal growth factor receptor 2; HNSCC: head and neck squamous cell carcinoma; NSCLC: non-small cell lung cancer; PSMA: prostate-specific membrane antigen; TCE: T-cell engager
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VIR-5500 strategic collaboration with Astellas and new positive Phase 1 data Collaboration pairs Astellas’ world class capabilities in prostate cancer with Vir Bio’s potential best-in-class T-cell engager VIR-5500, powered by PRO-XTEN® masking technology i 2026 Vir Biotechnology, Inc. 34 New Phase 1 data at ASCO-GU show compelling safety and efficacy profile in prostate cancer, highlighting VIR-5500’s potential and validating PRO-XTEN® platform Deal economics enable rapid advancement of VIR-5500 in early and late-stage prostate cancer and position Vir Bio as an emerging leader in immuno-oncology ASCO-GU: American Society of Clinical Oncology Genitourinary Cancers Symposium; PSMA: prostate-specific membrane antigen
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PATIENTS ARE WAITING 2026 Vir Biotechnology, Inc. 2026 Vir Biotechnology, Inc. 35