Sorrento Therapeutics : August Presentation

SRNE (NASDAQ)

1. Leading Immunotherapy and Non-Opioid Pain Management Company August 2019

© 2019 Sorrento Therapeutics, Inc. All Rights Reserved

Forward-Looking Statements and Non-GAAP Financial Information

Certain statements contained in this presentation or in other documents of Sorrento Therapeutics, Inc. (the "Company" or "Sorrento") and of any of its affiliates, along with certain statements that may be made by management of the Company orally in presenting this material, may be considered "forward-looking statements" as defined in the Private Securities Litigation Reform Act of 1995. These statements can be identified by the fact that they do not relate strictly to historic or current facts. They use words such as "estimate," "expect," "intend," "believe," "plan," "anticipate," "projected" and other words and terms of similar meaning in connection with any discussion of future operating or financial performance or condition. Sorrento cautions that these statements are based upon the current beliefs and expectations of the Company's management and are subject to significant risks and uncertainties. Statements regarding future action, future performance and/or future results including, without limitation, those relating to the timing for completion, and results of, scheduled or additional clinical trials and the FDA's or other regulatory review and/or approval and commercial launch and sales results (if any) of the Company's formulations and products and regulatory filings related to the same, and receipt by the Company of milestone and royalty payments may differ from those set forth in the forward-looking statements. Peak sales and market size estimates have been determined on the basis of market research and comparable product analysis, but no assurances can be given that such sales levels will be achieved, if at all, or that such market size estimates will prove accurate.

The Company assumes no obligation to update forward-looking statements as circumstances change. Investors are advised to consult further disclosures that the Company makes or has made on related subjects in the Company's Form 10-K,10-Q and 8-K reports filed with the Securities and Exchange Commission (the "SEC")

In presenting this material or responding to inquiries in connection with a presentation, management may refer to results, projections or performance measures that are not prepared in accordance with U.S. Generally Accepted Accounting Principles ("GAAP") as reported in the Company's SEC filings. These results, projections or performance measures are non-GAAP measures and are not intended to replace or as a substitute for results measured under GAAP, but rather as supplement to the GAAP reported results.

Because actual results are affected by these and other potential risks, contingencies and uncertainties, the Company cautions investors that actual results may differ materially from those expressed or implied in any forward-looking statement. It is not possible to predict or identify all such risks, contingencies and uncertainties. The Company identifies some of these factors in its SEC filings on Forms 10-K,10-Q and 8-K, and investors are advised to consult the Company's filings for a more complete listing of risk factors, contingencies and uncertainties affecting the Company and its business and financial performance.

Sorrento® and the Sorrento logo are registered trademarks of Sorrento Therapeutics, Inc.

© 2019 Sorrento Therapeutics, Inc. All Rights Reserved	2

Investment Highlights

Sorrento is a diversified biopharmaceutical company discovering, developing and commercializing

differentiated medicines in areas of high unmet need with breakthrough growth potential

Robust,

Diversified Pipeline

Significant Near-

Term Value-Drivers

Strategic Holdings in

High-Profile Assets

Executing

Commercial

Launch

Strong Management

Team and

Marquee Partners

• Next-generationI-O platform has the potential to transform cancer care into a treatable or manageable disease
• Commercial and late-stage pain analgesics portfolio products target large, established, yet underserved markets and have blockbuster potential
• Key milestones include Phase 1 data read-out from the anti-CD38CAR-T therapy for multiple myeloma in Q4 2019/Q1 2020, continued revenue growth for ZTlido® and the SP-102 pivotal Phase 3 trial read-out targeted for 1H 2020
• Pivotal trials for Resiniferatoxin ("RTX") expected to begin in the next 6-9 months
• Multiple avenues to drive additional near-term value through subsidiaries and partnerships with leading biopharma companies
• Significant ownership in Scilex, Celularity and ImmuneOncia
• Pre-clinicaland clinical-stage library of novel compounds can provide non-dilutive financing through out-licensing
• ZTlido® sales off to a strong start - Net Sales grew 63% from $2.86 million in Q1 2019 to $4.66 million in Q2 2019
• Established reimbursement access for ZTlido® covering more than 100 million U.S. insured lives
• Management pedigree includes Celgene, Pfizer and the FDA
• Key joint venture partners include Celgene and United Therapeutics; key financial partners include Vivo Capital, Canaan Partners and Frazier Healthcare Partners

© 2019 Sorrento Therapeutics, Inc. All Rights Reserved	3

Sorrento's Business Model

Creating value through self-development of immuno-oncology and non-opioid pain

analgesics, and strategic transactions with top financial and biopharmaceutical partners

• Mission to develop therapeutic approaches that extend and enhance cancer patients' lives
• Innovate and develop high-value-potentialnon-opioid therapeutics and monetize through
• Innovate and develop high-value-potentialnon-opioid analgesics and monetize through strategic transactions
  strategic transactions
• Unlock value through creative strategic transactions, including potential subsidiary IPOs, joint ventures and mergers/M&A, among others
• Unlock value through creative strategic transactions, including potential subsidiary IPOs, joint ventures and M&A, among others

© 2019 Sorrento Therapeutics, Inc. All Rights Reserved	4

Turn-Key System:

G-MABImmuno-Oncology Discovery and Development Platform

Highly successful screening hit rate (100+ clinically relevant targets screened)

Very high diversity (2.1 x 1016 distinct antibody sequences)

Proprietary technology (RNA amplification for library generation)

Manufacturing Capabilities:

• cGMP facility (4,000 L)
• Fill/Finish capabilities
• Full analytical support

© 2019 Sorrento Therapeutics, Inc. All Rights Reserved	5