Legend Biotech : LEGN Q1 2024 Earnings Presentation

May 13, 2024

First Quarter 2024

Financial Results & Corporate Update

This presentation is for investor relations purposes only - Not for product promotional purposes

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®, and the progress of such submissions with the FDA, the EMA and other regulatory authorities; and expected results and timing of clinical trials; Legend Biotech's expectations for LB2102 and its potential benefits; the potential benefits of

the licensing transaction; Legend Biotech's expectations on advancing their pipeline and product portfolio; and the potential benefits of Legend Biotech's product candidates. 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; the duration and severity of the COVID-19 pandemic and governmental and regulatory measures implemented in response to the evolving situation; 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, 2023, filed with the Securities and Exchange Commission (SEC) on March 19, 2024 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.

2 This presentation is for investor relations purposes only - Not for product promotional purposes

Agenda

1. Opening Remarks
2. Q1 2024 Performance Overview
3. Our Pipeline
4. Financial Performance
5. Upcoming Milestones
6. Q&A

3 This presentation is for investor relations purposes only - Not for product promotional purposes

Forward-looking Statements

Ying Huang, PhD	Lori Macomber
Chief Executive Officer	Chief Financial Officer

4 This presentation is for investor relations purposes only - Not for product promotional purposes

Business Highlights

C O N T I N U E D P R O G R E S S A G A I N S T O U R S T R AT E G I C P R I O R I T I E S

Establishing a strong

foundation for CARVYKTI®

market penetration

• Achieved net trade sales of $157 million for Q1 2024
• Received FDA approval for label expansion to treat 2L+
  MM
• Received EC approval for label expansion to treat 2L+ MM
• Received approval in Brazil for 2L+ treatment of RRMM

Strengthening our	Unlocking value across
manufacturing capabilities	our broader pipeline
• Entered into Master	• Continued to advance early-
Manufacturing and Supply	stage pipeline candidates
Services Agreement with	across hematologic and solid
Novartis Pharmaceuticals	tumor indications
Corporation

• Continued industry leading launch performance for
  CARVYKTI®
• Wider release specification approved by the FDA following earlier lines approval
• On track for annualized capacity of 10,000 slots by end of 2025

Maintaining a solid financial position to fund sustainable growth

• Cash position of $1.3 billion and growing revenues expected to fund operating and capital expenditures into 2026, when we expect to begin to achieve an operating profit
• Achieved a $45 million milestone payment on April 5 for FDA's approval
  of CARVYKTI® label expansion to treat 2L+ MM
• Published inaugural ESG report

Published inaugural ESG report aligned to SASB sector standards

5	This presentation is for investor relations purposes only - Not for product promotional purposes

CARVYKTI® Regulatory Approval Progress

• Approved for patients with RRMM in:
• • U.S. (2L+)* - first and only BCMA-targeted therapy approved by
    FDA for treatment of 2L+ MM
  • E.U. (2L+)*
  • Brazil (2L+)*
  • Japan (4L+)
• Supported by extensive, long-term clinical data available across multiple lines of therapy for MM





Commercially available in US, Germany, Austria and Brazil

Well-positioned to build upon existing commercial footprint to continue growing market share

*Based on CARTITUDE-4 data demonstrating statistically significant and clinically meaningful improvement in progression free survival with CARVYKTI over SOC

6	This presentation is for investor relations purposes only - Not for product promotional purposes

Unleashing the Strength of CARVYKTI®

is a potential Best-in-Class CAR T approved in MM

	• Entered into a Master Manufacturing and Supply Services Agreement with Novartis1 to
On track to reach 10,000	supplement existing manufacturing capabilities, increase commercial supply, and
meet global demand of CARVYKTI®
annual dose capacity of
• Plan to double YE2023 CARVYKTI® capacity by the end of 2024
CARVYKTI® by end of 2025
	• Wider release specification approved by the FDA following earlier lines approval

Reliable manufacturing and economic advantages

Increased our capacity	Industry leading early	Expanded CMO	Significant improvement in	Over 140K square feet of
100% since beginning	launch performance	relationship with Novartis1	manufacturing success	manufacturing space
of 2023		to include commercial	rate	across facilities in
		supply through 2029		strategic geographies

Treated 2,700+ patients across 90+ ATCs2 globally

	1. Novartis Pharmaceuticals Corporation
8	2. ATC - Authorized treatment center

This presentation is for investor relations purposes only - Not for product promotional purposes

US and EU CARVYKTI® Supply Overview

GLOBAL CAPACITY ROADMAP

G L O B A L C A P A C I T Y R A M P U P

• Increase Current Raritan Output
• Add Supply Nodes
• Ramp Plants to Full Capacity
• Additional Facility Expansion

Launch

→ Process Optimization

Raritan Slot

Ramp Up

Tech Lane

Online

Obelisc

Online

Raritan Physical

Expansion

CMO Online

Facilities

Expansion/Process

Optimization

Facilities Driving

To Full Capacity

1H22

2H22

1H23

2H23

1H24

2H24

1H25

2H25

1H26

2H26

1H27

2H27

2028

2029

2030

9This presentation is for investor relations purposes only - Not for product promotional purposes

CARVYKTI® Uptake Continues

Continued market penetration, population in earlier lines of treatment represents significant opportunity for continued growth

180

160

140

120

100

80

60

40

20

0

CARVYKTI® Net Trade Sales ($MM)

+118% growth vs Q1'23

		12	13
		3
			146
		140
		2
0	0	114

70

0 55 55

24

	YoY Growth	QoQ Growth
U.S.	100%	-4%
EU	700%	23%
Global	118%	-1%

16

140

• U.S. QoQ decline of 4% primarily driven by phasing and timing of delivery and billing of orders
• Number of activated U.S. treatment sites increased to 72
• EU QoQ growth of 23% primarily due to ongoing launch in Germany and Austria

Q2 2022 Q3 2022 Q4 2022 Q1 2023 Q2 2023 Q3 2023 Q4 2023 Q1 2024

U.S. EU

10This presentation is for investor relations purposes only - Not for product promotional purposes