OmniAb : March 2024 Corporate Overview

Disclaimer

We caution you that this presentation contains forward-looking statements.

All statements other than statements of historical facts contained in this presentation, including statements regarding our future results of operations and financial position, expected cash runway and cash use, business strategy, our expectations regarding the application of, and the rate and degree of market acceptance of, our technology platform and other technologies, our expectations regarding the addressable markets for our technologies, including the growth rate of the markets in which we operate and the need for antibody-related discovery technologies, the staffing and resources required, and our ability to efficiently leverage the growth of our business, the timing of the initiation or completion of preclinical studies and clinical trials by our partners, expectations regarding product approvals and potential for future revenue growth, launches by our partners and the timing thereof, the anticipated introduction of new technologies and innovations and enhancement of our technology stack and partners' experiences, the continued innovation around and the expected performance of our technologies and the opportunities they may create, the ability to add new partners and programs, and the potential for and timing of receipt of milestones and royalties under our license agreements with partners, are forward-looking statements. In some cases, you can identify forward-looking statements by terms such as "may," "will," "should," "expect," "plan," "anticipate," "could," "intend," "target," "project," "contemplates," "believes," "estimates," "predicts," "potential" or "continue" or the negative of these terms or other similar expressions. The inclusion of forward-looking statements should not be regarded as a representation by us that any of our plans will be achieved. Actual results may differ from those set forth in this presentation due to the risks and uncertainties inherent in our business, including, without limitation: our future success is dependent on acceptance of our technology platform and technologies by new and existing partners, as well as on the eventual development, approval and commercialization of products developed by our partners for which we have no control over the development plan, regulatory strategy or commercialization efforts; biopharmaceutical development is inherently uncertain, risks arising from changes in technology; the competitive environment in the life sciences and biotechnology platform market; our failure to maintain, protect and defend our intellectual property rights; difficulties with performance of third parties we will rely on for our business; regulatory developments in the United States and foreign countries; unstable market and economic conditions, may have serious adverse consequences on our business, financial condition and stock price; we may use our capital resources sooner than we expect; and other risks described in our press releases and filings with the SEC. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date made, and except as required by applicable law, we do not plan to publicly update or revise any forward-looking statements contained herein, whether as a result of any new information, future events, changed circumstances or otherwise. All forward-looking statements are qualified in their entirety by this cautionary statement, which is made under the safe harbor provisions of the Private Securities Litigation Reform Act of 1995.

Information regarding partnered products and programs comes from information publicly released by our partners.

This presentation also contains estimates and other statistical data made by independent parties and by us relating to market size and growth and other data about the antibody industry. This data involves a number of assumptions and limitations, and you are cautioned not to give undue weight to such estimates. In addition, projections, assumptions, and estimates of our future performance and the future performance of the markets in which we operate are necessarily subject to a high degree of uncertainty and risk.

Our Business

LEVERAGING OUR PROPRIETARY DISCOVERY TECHNOLOGY PLATFORM WORLDWIDE

Technology Offering Addresses Most Critical Challenges of DiscoveryOne of the Largest Greenfields in the Pharma Industry

Create, Screen, Deliver antibodies leveraging industry's only 4-species platform with differentiated tech and core competencies

POISED FOR GROWTH TO MEET A GLOBAL INDUSTRY

Total addressable market for

antibodies expected to surpass

$300 billion in 2027

Sources: Clarivate Analytics Cortellis database.

Demand for Discovery Technology is Increasing

Higher industry success rates and other factors are driving an acceleration of antibody-based investment by the pharmaceutical industry

Provision for drug price negotiations between Medicare and drug makers

Small molecule drugs are eligible for negotiation 7 years after approval while large molecule are not eligible until 11 years after approval.

In a PhRMA survey of biopharmaceutical companies, 63% said they expect to shift R&D investment away from small molecule medicines as a result of the IRA.(2)

Inflation Reduction

Act (IRA)

• (1) BIO | QLS Advisors | Informa Feb 2021 Report; Applied Clinical Trials

• (2) phrma.org;https://phrma.org/en/Blog/WTAS-Inflation-Reduction-Act-already-impacting-RD-decisions

  Data from The Antibody Society suggests the industry is further improving clinical success rates for antibodies

  Phase 1 to Any Approval - Success Rates over Time3

  Phase Transition and Approval Success Rates

  (for antibody therapeutics which entered clinical studies 2000 - 2019)

  40

  TransitionRate%

  20

  0

  2000-2009 2005-2014 2010-2019

  n = 357

  n = 567

  n = 1,001

  Final outcomes (approval or termination) known for 90%. 84%, and 59% of molecules for 2000-2009, 2005-2014, 2010-2019 periods, respectively.

• (3) Trends in Commercial Development of Antibody Therapeutics, The Antibody Society, Inc., October 24, 2023;https://www.antibodysociety.org/learningcenter/antibodies-to-watch-webinar-series/.

2023: A Highly Productive Year for the OmniAb Business

POSITIONED THE BUSINESS FOR FUTURE GROWTH

Significant growth of our partnership base and pipeline, and advancement of key programs by partners

Expansion of our operations and globalization of our business development function

Successful new technology launches in 2023 (OmniDeep™ and OmnidAb™) driving new programs and technology uses

Performance Indicators

• • Annual growth in key performance indicators continues

  • ‒ Active Partners:(1) 12% YoY Growth, 2023 vs. 2022

  • ‒ Active Programs:(2) 12% YoY Growth, 2023 vs. 2022

  • ‒ Active Clinical and Approved Programs:(2) 23% YoY Growth, 2023 vs. 2022

• • 2022 and 2023 were years of significant growth in our business, despite macro headwinds

Number of Active

Partners

80 70 60 50 40 30 20

10

0

Number of Active

Programs

350

300

250

200

150

100

50

0

• (1) An active partner is one that has rights to an active program or has executed a license agreement in advance of initiating an active program.

• (2) An active program is one in which research work has commenced or an antigen is introduced into our animals and also includes active clinical programs and approved products.

Number of Active Clinical Programs and Approved Products

35 30 25 20 15

10 5

0

New Discovery and Academic Partners Added in 2023

• • Despite macro environment in 2023, we entered into four new deals with Start-up partners

• • Additions of two new, global Big Pharma partners who are highly active

• • Biotech partners have been especially efficient in starting new work

• • Added deals with Academic partners in revenue share models, knowing: 1) academic centers can feed future "scientist migration" to industry; and 2) recent proof-points in the ability of leading academic centers to turn OmniAb-derived assets into companies

Select OmniAb Partners

>75 COMPANIES CURRENTLY HAVE ACCESS TO OMNIAB ANTIBODIES

Growth and Advancement of Active Programs

We started 2023 with 291 Active Programs and grew to 325 as of 12/31/23, net of attrition

Reported numbers above are net of attrition, as of 12/31/23. Preclinical stage programs are programs that are confirmed to be in pre-IND studies by partners.

During 2023:

Active Discovery programs grew from 251 to 278

8 programs successfully transitioned from Discovery to Preclinical

6 programs transitioned from Preclinical to Phase 1

1 Program transitioned from Phase 3 to Registration (China filing)