Lyell Immunopharma : Company Presentation

DRAFT JPM22

Updated 12-14-21

Lyell Immunopharma

September 11, 2023

Forward-lookingstatements

Certain matters discussed in this presentation are "forward-looking statements" of Lyell Immunopharma, Inc, Inc. (hereinafter referred to as the "Company," "we," "us," or "our") within the meaning of the Private Securities Litigation Reform Act of 1995 (the "PSLRA"). All such written or oral statements made in this presentation, other than statements of historical fact, are forward-looking statements and are intended to be covered by the safe harbor for forward-looking statements provided by the PSLRA. Without limiting the foregoing, we may, in some cases, use terms such as "predicts," "believes," "potential," "continue," "estimates," "anticipates," "expects," plans"," "intends," "forecast," "guidance," "outlook," "may," "could," "might," "will," "should" or other words that convey uncertainty of future events or outcomes and are intended to identify forward-looking statements. Forward-looking statements are based on assumptions and assessments made in light of management's experience and perception of historical trends, current conditions, expected future developments and other factors believed to be appropriate. Forward looking statements in this presentation are made as of the date of this presentation, and we undertake no duty to update or revise any such statements, whether as a result of new information, future events or otherwise. Forward-looking statements are not guarantees of future performance and are subject to risks, uncertainties and other factors, many of which are outside of our control, that may cause actual results, levels of activity, performance, achievements, timelines and developments to be materially different from those expressed in or implied by these forward-looking statements. Important factors that could cause actual results, developments and business decisions to differ materially from forward-looking statements are described in the sections titled "Risk Factors" in our filings with the Securities and Exchange Commission (the "SEC"), and include, but are not limited to, the following substantial known and unknown risks and uncertainties inherent in our business related to: the effects of geopolitical instability; macroeconomic conditions and the lingering effects of the COVID-19 pandemic; our ability to submit planned INDs or initiate or progress clinical trials on the anticipated timelines, if at all; our limited experience as a company in enrolling, conducting or completing clinical trials; our ability to manufacture and supply our product candidates for our clinical trials; the nonclinical profiles of our product candidates not translating in clinical trials; the potential for results from clinical trials to differ from nonclinical, early clinical, preliminary or expected results; significant adverse events, toxicities or other undesirable side effects associated with our product candidates; the significant uncertainty associated with our product candidates ever receiving any regulatory approvals; our ability to obtain, maintain, or protect intellectual property rights related to our product candidates; implementation of our strategic plans for our business and product candidates; the sufficiency of our capital resources and the need for additional capital to achieve our goals; other risks, including general economic conditions and regulatory developments, not within our control; and those risks described under the heading "Risk Factors" in our SEC filings, including our Quarterly Report on Form 10-Q for the quarter ended June 30, 2023 and subsequent filings with the SEC.

• P R O P R I E T A R Y

Advancing T cell therapies for solid tumors

Clinical data from two lead programs in 2024

Two clinical programs: wholly-owned,	Executing a scalable manufacturing
addressing large patient populations	strategy
LYL797: ROR1 targeted CAR T cell	Lyell's LyFE center producing current clinical supply
• 1H2024: P1 clinical & translational data from 20+ patients	• 2024: Epi-R P2 process to shorten TIL manufacturing time
• TNBC, NSCLC	without impacting cell number and phenotype
LYL845: Tumor Infiltrating Lymphocyte (TIL)	Planning for the future
• 2024: P1 clinical & translational data	• CAR T cell proof-of-concept collaboration with Cellares
• Melanoma, NSCLC, CRC	to build scale and reduce cost

Portfolio of novel reprogramming platform technologies

• 1H2024: IND filing for LYL119, ROR1 targeted CAR T cell designed for enhanced potency and durability; using four of our technologies

~$633 million in cash

• Runway into 2026

ROR1, receptor tyrosine kinase-likeorphan receptor 1; TNBC, triple-negative breast cancer; NSCLC, non-small-cell lung cancer; CRC, colorectal cancer; P1, Phase 1

• P R O P R I E T A R Y

Lyell is developing two types of personalized cell therapy:

Focused on getting the T-cells right

OUR GOAL: Reprogram T cells to defeat solid tumors

CAR T cells

Metastatic	Tumor-
cancer	infiltrating
	lymphocytes

CAR, chimeric antigen receptor

Resist exhaustion Durable cytotoxicity Self-renewal Persistence

Durable cytotoxicity Maintain polyclonality Right phenotype Hot and cold tumors

• P R O P R I E T A R Y

Lyell's T-cell reprogramming technologies are designed to address primary barriers to success in solid tumors

TO ACHIEVE SUCCESS IN SOLID TUMORS, CELL THERAPY MUST:

RESIST EXHAUSTION, RETAIN FUNCTION

Maintain cancer cell killing in the immunosuppressive tumor microenvironment

ENHANCE DURABLE STEMNESS

Increase ability to self-renew and persist to drive durable tumor cytotoxicity

• P R O P R I E T A R Y