Medigene : Präsentation zum Halbjahresbericht 2021

Building next generation TCR-T cell therapies for solid cancers

Medigene Half-Year Report 2021

12 August 2021

Forward looking statements disclaimer

All of the information herein has been prepared by the Company solely for use in this presentation. The information contained in this presentation has not been independently verified. No representation, warranty or undertaking, express or implied, is made as to, and no reliance should be placed on, the fairness, accuracy, completeness or correctness of the information or the opinions contained herein. The information contained in this presentation should be considered in the context of the circumstances prevailing at that time and has not been, and will not be, updated to reflect material developments which may occur after the date of the presentation. The Company may alter, modify or otherwise change in any manner the content of this presentation, without obligation to notify any person of such revision or changes.

This presentation may contain certain forward-looking statements and forecasts which relate to events and depend on circumstances that will occur in the future and which, by their nature, will have an impact on the Company's business, financial condition and results of operations. The terms

"anticipates", "assumes", "believes", "can", "could", "estimates", "expects", "forecasts", "intends", "may", "might", "plans", "should", "projects", "will",

"would" or, in each case, their negative, or other variations or comparable terminology are used to identify forward-looking statements. There are a number of factors that could cause actual results and developments to differ materially from those expressed or implied in a forward-looking statement or affect the extent to which a particular projection is realised. Factors that could cause these differences include, but are not limited to, implementation of the Company's strategy and its ability to further grow, risks associated with the development and/or approval of the Company's products candidates, ongoing clinical trials and expected trial results, technology changes and new products in the Company's potential market and industry, the ability to develop new products and enhance existing products, the impact of competition, changes in general economy and industry conditions and legislative, regulatory and political factors. While we always intend to express our best judgment when we make statements about what we believe will occur in the future, and although we base these statements on assumptions that we believe to be reasonable when made, these forward-looking statements are not a guarantee of our performance, and you should not place undue reliance on such statements. Forward-looking statements are subject to many risks, uncertainties and other variable circumstances. Such risks and uncertainties may cause the statements to be inaccurate and readers are cautioned not to place undue reliance on such statements. Many of these risks are outside of our control and could cause our actual results to differ materially from those we thought would occur. The forward-looking statements included in this presentation are made only as of the date hereof. We do not undertake, and specifically decline, any obligation to update any such statements or to publicly announce the results of any revisions to any of such statements to reflect future events or developments.

2

Investment highlights

Powerful platform to develop best-in-class T cell-based immunotherapies for solid tumors

Cutting edge ability to select optimal T cell receptors

Optimal TCR properties: Higher avidity & specificity

Strength in screening healthy TCR repertoires: Improved safety

Collection of TCRs against different antigens and HLAs

Antigen targets of choice including non-coding parts of genome

Functional enhancements to conquer hostile solid tumor microenvironment

Checkpoint pathway: Inhibition turned into activation

Augmented T cell activity and endurance

Extended activity to favor durable clinical response: TCR-Ts able to kill repeatedly over many cycles

TCR: T cell receptor; HLA: Human leukocyte antigen; TCR-T: T cell receptor-modified T cell

3

Key information

Company

Martinsried, near Munich, Germany

~70 employees

~€22.2 m cash*

COVID-19 Situation Update

Personnel

Work from home and on-site

Partner programs

Continued R&D activities at Medigene support partners

Preclinical and clinical development

Largely unaffected

*As of 30 June 2021; **At close 10 August 2021

Listing

Frankfurt Stock Exchange (MDG1)

~24.6 m shares outstanding

~€100 m market cap**

Financials

	H1 2020	H1 2021	2021e
Total revenues	€3.7 m	€4.3 m	€7-9 m
R&D expenses	€11.1 m	€6.3 m	€14-20 m
EBITDA loss	€11.3 m	€4.5 m	€10-17 m

Runway - will fund business operations into Q3 2022

No milestone payments or cash inflows included from existing or future partnerships or transactions

4

Validation of Medigene's TCR-T platform through partnerships

bluebird bio

TCR discovery projects for multiple antigen/HLA combinations

Worldwide development and commercial rights and exclusive license for IP

First TCR lead for MAGE-A4/HLA-A2 in preclinical development

Medigene eligible for R&D funding, development, regulatory and sales milestones and tiered, up to double digit % royalties

Roivant / Cytovant

Preclinical-stage TCR specific for the target NY-ESO-1;clinical indications chosen

DC vaccine program for AML

Discovery projects for 2 further TCRs tailored for Asian population

Regional license rights in East Asia

Medigene eligible for R&D funding, development, regulatory and sales milestones and tiered, up to double digit % royalties

5