th Investor Relations Event at the 65 ASH Annual Meeting

Forward-Looking Statements This presentation contains forward-looking

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available to our management. All statements other than statements of historical facts contained in this presentation, including statements regarding our future financial condition, results of operations, business strategy, operations and prospects,

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predict all risk factors or assess the impact of all factors on the business or the extent to which any factor, or combination of factors, may cause actual results to differ materially from those contained in, or implied by, any forward-looking

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date subsequent to the date of this presentation. This presentation discusses product candidates that are under preclinical or clinical evaluation and that have not yet been approved for marketing by the U.S. Food and Drug Administration or any

other regulatory authority. The presentation also includes select interim and preliminary results from an ongoing clinical trial as of specific data cutoff dates. Such results should be viewed with caution as final results may differ as additional

data becomes available. Until finalized in a clinical study report, clinical trial data presented herein remain subject to adjustment as a result of clinical site audits and other review processes. No representation is made as to the safety or

effectiveness of these product candidates for the use for which such product candidates are being studied. This presentation also contains estimates and other statistical data made by independent parties or publicly available information, as well as

other information based on our internal sources. These data involve a number of assumptions and limitations, and you are cautioned not to give undue weight to such estimates. We have not independently verified the accuracy or completeness of the

data contained in these industry publications and other publicly available information. Accordingly, we makes no representations as to the accuracy or completeness of that data. Cross-trial comparisons are not based on head-to-head studies and no

direct comparisons can be made. Cross-trial data interpretation should be considered with caution as it is limited by differences in study population, design and other factors. 2 Arcellx | 2 C0 o2 r3 p o ArS a H t e IR P E rv ee sn et ntation

Agenda Topic Presenter Time Opening Remarks Rami Elghandour 10 Minutes

Chairman and Chief Executive Officer, Arcellx Phase I Study of anito-cel: A CART- Matthew J. Frigault, M.D., M.S. 20 Minutes Therapy Utilizing a Novel Synthetic iMMagine-1 and ACLX-001 Clinical Study Investigator, Binding Domain for the Treatment of

Clinical Director of the Cellular Therapy Service at Mass Subjects with Relapsed or Refractory General Cancer Center and Assistant Professor at Harvard Multiple Myeloma Medical School Panel Discussion and Q&A Panelists: 30 Minutes Matthew J.

Frigault, M.D., M.S. Krina K. Patel, M.D., M.Sc. iMMagine-1 Clinical Study Investigator, Associate Professor, Department of Lymphoma/Myeloma, Division of Cancer Medicine at the University of Texas MD Anderson Cancer Center Moderator: Chris Heery,

M.D. Chief Medical Officer, Arcellx Q&A 30 Minutes 3 Arcellx | 2 C0 o2 r3 p o ArS a H t e IR P E rv ee sn et ntation

Arcellx is a Different Kind of Cell Therapy Company Potential

best-in-class therapy partnered with Kite, the global leader in cell therapy. Scalable manufacturing and commercial footprint to support leadership in a $12B+ Multiple Myeloma cell therapy market. Sufficient capital to fund operations into

Arcellx is well positioned for launch and scale D-Domain, A

Differentiated Potential Best-in-Class Positioned for Scale and Technology Platform Multiple Myeloma Franchise Success in CAR-T Space High Expression: Novel synthetic binder Potential best-in-class profile for Well

capitalized: Strong cash enables high CAR positive drug product CAR-T in MM: data from phase 1 position of $483M as of 9/30 with a low overall cell dose and high ($768M pro-forma post Kite trial demonstrates deep and surface expression durable

responses with expansion) expected to fund manageable safety profile operations into 2027 Manufacturability: Small size and high Large market with high unmet stability may allow for consistent, Favorable collaboration need:

Global Myeloma Market $12B+ scalable manufacturability structure: Co/co structure nd th across 2 to 5 line increases operating leverage, with CMC commercial readiness Versatility: Single infusion CAR-T and Partnered with Kite/Gilead:

Proven costs covered by Kite/Gilead dosable/controllable CAR-T platforms CMC capability and largest through collaboration provide novel approaches in commercial footprint with 17,000+ challenging hematologic and solid patients treated and 300+ ATC

tumor cancer settings D-Domain IP: Growing pipeline is presence in 25+ countries wholly owned outside of CART- ddBCMA and ACLX-001 5 Arcellx | 2 C0 o2 r3 p o ArS a H t e IR P E rv ee sn et ntation

Anitocabtagene autoleucel (anito-cel/CART-ddBCMA) 1 Autologous

BCMA-directed CAR T-cell therapy using a novel, D-Domain binder Bi-Valent 2 TCR 4 Camelid VHh (50kDa) (25kDa) 3 scFv (25kDa) D-Domain (8kDa) 41BB 41BB 41BB CD3 CD3 CD3 CD3 CD3 1 Rotte, et al. Immuno-Oncology Insights

2022; 3(1), 13-24 2 Chan, KF. et al. 2018.,Nat Commun 9:1026-1026 3 Bjerragaard-Anderson, K., et al 2018. Sci. Rep., 8:10836-10836. 6 4 https://commons.wikimedia.org/wiki/File:1I3V_(Lama_VHH_domain_unligated).png#file Arcellx | 2 C0 o2 r3 p o

ArS a H t e IR P E rv ee sn et ntation

High CAR+ cell product with lower overall cell dose Anito-cel has higher

transduction efficiency Enabling higher CAR+ within a lower overall cell dose Typical product dose: CAR+ viable T-cell and estimated total cell count per infusion (M cells) 1000 70% 750 500 ~360 250 167 ~15% 0 2 1 Anito-cel Cartitude-1 Anito-cel

Cartitude-1 (est.) Calculated approximate total cell dose CAR+ % Range Median CAR+ % Median CAR+ T-Cells dosed Calculated approximate total cell dose range 3 Higher total cell dose has been found to be a key risk factor for both severe CRS and

severe neurological toxicities Note: Data above are not from head-to-head studies 7 1 2 3 Zudair et al.; Foster et al.; Wu et al. Arcellx | 2 C0 o2 r3 p o ArS a H t e IR P E rv ee sn et ntation

Phase 1 Clinical Profile Supports Potential Best-in-Class Candidate 100%

ORR Median PFS No Delayed not reached Neurotoxicities 76% CR/sCR at median follow-up of 26.5 mos. Including no Parkinsonian Symptoms No grade 3 CRS and 1 case of Grade 3 CR/sCR rate maintained across In the overall population studied, the

high-risk subgroups, including EMD, estimated median PFS has not been ICANS at RP2D. All events resolved without high-risk cytogenetics, age 65 reached at 24 months sequelae with routine management 32 patients at DL1 have had at least the

12-month follow-up visit and are evaluable for safety 0% Grade 3 CRS in DL1 and 3% Grade 3 ICANS in DL1 No tissue-targeted toxicities, no Guillain-Barr syndrome, no cranial nerve palsies observed as of latest data cut-off Phase 2

Pivotal Study Currently Enrolling 8 Phase 1 Study: October 15, 2023, data cut-off; ASH Annual Meeting, December 2023, abstract #1023 Arcellx | 2 C0 o2 r3 p o ArS a H t e IR P E rv ee sn et ntation

Anito-cel Phase 1 in a higher risk patient population Extramedullary

Disease B2M 5.5 (ISS stage 3) High-Risk Cytogenetics** 50% 30% 40% 25% 40% 30% 20% 30% 15% 20% 28% 36% 35% 20% 39% 29% 34% 10% 18% 24% 16% 10% 14% 10% 20% 5% 13% 0% 0% 0% A An ni it to o- -C ce ell Cartitude-1 Legend-2 KarMMa* A An niit to

o- -C ce el l Cartitude-1 Legend-2 KarMMa A An niit to o- -C ce ell Cartitude-1 Legend-2 KarMMa Bone marrow plasma cells 60% Age group 65 Penta Refractory 30% 60% 80% 25% 50% 60% 20% 40% 15% 30% 40% 53% 68% 24% 22% 10% 20% 36% 35%

20% 42% 5% 10% 26% NA NA NA NA 0% 0% 0% Anito-cel Anito-cel Anito-cel Anito-Cel Cartitude-1 Legend-2 KarMMa Anito-Cel Cartitude-1 Legend-2 KarMMa Anito-Cel Cartitude-1 Legend-2 KarMMa *KarMMa EMD figure includes bone-based lesions; **Defined as the

presence of Del 17p, t(14;16), t(4;14); for Anito-cel, high risk cytogenetics including +1q gain is n=26 (68%); Data above are not from head-to-head studies. 9 4 6 7 KarMMa: Munshi et al.; Legend-2: Zhao et al.; Cartitude-1: Martin et al. (2023)

Arcellx | 2 C0 o2 r3 p o ArS a H t e IR P E rv ee sn et ntation

Multiple Myeloma is a Significant Market Opportunity Growing

opportunity for CAR-T 3rd most solutions as more effective common therapies move to blood cancer earlier line patients Incurable Impacting Multiple disease with 100,000 patients life expectancy annually Myeloma of just over 5 years Limited Therapies

Total addressable comprise ~$20B global market (2L+) of $12B+ market today in CAR-T 10 Arcellx | 2 C0 o2 r3 p o ArS a H t e IR P E rv ee sn et ntation

A Rich Development Pipeline with Growth in Mind Clinical and

Preclinical Pipeline Discovery/ Phase 2 / Indication Platform Phase 1 Current Status / Anticipated Milestone Preclinical Pivotal iMMagine-1 pivotal/ anito-cel Present preliminary data 2H'24 ddCAR Multiple Earlier line Ph 3 Confirmatory RCT /

anito-cel Initiation planned for 2024 Myeloma ACLX-001: BCMA ARC-SparX Kite exercised option ACLX-002: CD123 Phase 1 enrolling ARC-SparX AML/MDS ACLX-003 SCLC ARC-SparX Solid Tumors ddCAR HCC 11 Arcellx | 2 C0 o2 r3 p o ArS a H t e IR P E rv ee sn

Arcellx Reimagining Cell Therapy + Novel Synthetic Positive Interim

Phase Partnered with Global Platform Built for Binding Domain 1 Clinical Results Leader in Cell Therapy Potential Success Single-infusion ddCAR 100% ORR; 76% CR/sCR Combining potential ACLX-001 Phase 1 clinical Strong investor base platform and deep

durability in best in class program trial in MM initiated in Exceptional team CART-ddBCMA with Kite's established 2Q22 and multiple myeloma commercial and Wholly owned IP ACLX-002 Phase 1 clinical Dosable, controllable Phase 1 study with mPFS

manufacturing expertise trial in AML/MDS Well capitalized ARC-SparX platform not reached at 26.5 mo. initiated in 4Q22 median follow-up Pivotal study enrolling 12 Arcellx | 2 C0 o2 r3 p o ArS a H t e IR P E rv ee sn et ntation

Agenda Topic Presenter Time Opening Remarks Rami Elghandour 10 Minutes

Chairman and Chief Executive Officer, Arcellx Phase I Study of anito-cel: A CART- Matthew J. Frigault, M.D., M.S. 20 Minutes Therapy Utilizing a Novel Synthetic iMMagine-1 and ACLX-001 Clinical Study Investigator, Binding Domain for the Treatment of

Clinical Director of the Cellular Therapy Service at Mass Subjects with Relapsed or Refractory General Cancer Center and Assistant Professor at Harvard Multiple Myeloma Medical School Panel Discussion and Q&A Panelists: 30 Minutes Matthew J.

Frigault, M.D., M.S. Krina K. Patel, M.D., M.Sc. iMMagine-1 Clinical Study Investigator, Associate Professor, Department of Lymphoma/Myeloma, Division of Cancer Medicine at the University of Texas MD Anderson Cancer Center Moderator: Chris Heery,

M.D. Chief Medical Officer, Arcellx Q&A 30 Minutes 13 Arcellx | 2 C0 o2 r3 p o ArS a H t e IR P E rv ee sn et ntation

Abstract: 1023 Phase 1 Study Of Anito-cel For The Treatment Of Patients

With Relapsed And/Or Refractory Multiple Myeloma: Results From At Least 1-year Follow-up In All Patients 1 2 3 4 5* Matthew Frigault, MD, MS , Jacalyn Rosenblatt, MD , Binod Dhakal, MBBS , Noopur Raje, MD , Daniella Cook, BS , 6 7* 8* 9* 9* Mahmoud

R. Gaballa, MD , Estelle Emmanuel-Alejandro , Danielle Nissen , Kamalika Banerjee , Anand Rotte, PhD , 9 10 11 12 Christopher R. Heery, MD , David Avigan, MD , Andrzej Jakubowiak, MD, PhD and Michael R. Bishop, MD

Anitocabtagene autoleucel (anito-cel/CART-ddBCMA) 1 Autologous

BCMA-directed CAR T-cell therapy using a novel, D-Domain binder D-Domain Attributes: 1,2 Non-Antibody Derived Synthetic Protein Small D-Domain construct facilitates high transduction Expression efficiency, CAR positivity, and CAR density on the

T-cell 2-4 surface Rapid D-Domain folding, lack of disulfide bonds, and a Stability hydrophobic core enables stability at and beyond 5,6 physiologic conditions Due to small size and compact structure, D-Domain CARs have a scFv Bivalent camelid VHh

D-Domain 6 Structure low risk of tonic signaling and (~25 kDa) (~25 kDa) (~8 kDa) potentially more efficient Multiple Myeloma cell killing 1 2 3 4 Rotte, et al. Immuno-Oncology Insights 2022; 3(1), 13-24; Frigault, et al. Blood Adv. 2023;

7(5):768-777; Cante-Barrett, et al. BMC Res. Notes 2016; 9:13; Buonato, et al. Mol. Cancer Ther. 2022; 15 5 6 21(7):1171-1183; Zhu, et al. Proc. Nat. Acad. Sci. 2003; 100(26): 15486-15491; Qin, et al. Mol. Ther. 2019; 27(7): 1262-1274. A Arrc c ee

llx ll x | 2023 ASH IR Event

Anito-cel Phase 1: Background and Methods Phase 1 first-in-human trial

is in patients with relapsed and/or refractory myeloma Prior IMiD, PI, and CD38-targeted therapy Anito-cel Received 3 prior lines of therapies or triple refractory 2 Dose Levels evaluated, 6 patients in each dose escalation

cohort 6 DL1 = 100 + 20% x 10 CAR+ cells BCMA Binding Domain 6 DL2 = 300 + 20% x 10 CAR+ cells Expansion cohort is enrolled at DL1 Phase 2 pivotal study (NCT05396885) is enrolling patients 16 A Arrc c ee llx ll x | 2023 ASH IR

Anito-cel Phase 1: Patient Disposition Enrolled and Leukapheresed n=40

Successful Manufacture of Anito-cel n=40 Discontinued: Infection, n=1 Lymphodepletion n=39 Discontinued: Hypoxia/Heart Failure, n=1 Total Dosed n=38 6 6 DL1, 100x10 CAR+ cells DL2, 300x10 CAR+ cells n=32 n=6 Safety and Efficacy evaluable in all

dosed patients n=38 Dose escalation Dose escalation Expansion cohort n=6 n=6 n=26 Median administered dose at DL1, 115 million cells (range, 112-120 million cells) 17 A Arrc c ee llx ll x | 2023 ASH IR Event

Anito-cel Phase 1: A higher risk patient population 4 6 7 KarMMa

Legend-2 Cartitude-1 Anito-cel ph1 Greater percentage of patients N=128 N=74 N=97 N=38 with poor prognostic features: Anito-cel Phase 1 has higher rates BMPC > 60%, # (%) NA NA 21 (22%) 9 (24%) of patients with high tumor burden, ISS

stage III, EMD, and B2M > 5.5 (ISS stage 3), # (%) 21 (16%) 21 (28%) 14 (14%) 7 (18%) high-risk cytogenetics, which are all poor prognostic features for 50 (39%) EMD, # (%) 15 (20%) 13 (13%) 13 (34%) {incl. bone-based lesions} cell therapy High

risk cytogenetics, # (%)* 45 (35%) 15 (36%) 23 (24%) 11 (29%) Greater percentage of patients ECOG 0 57 (45%) 30 (41%) 39 (40%) 12 (32%) that are difficult to treat: Anito- cel Phase 1 has older patients Age group > 65, # (%) 45 (35%) NA

35 (36%) 20 (53%) (age 65), higher disease burden (BMPC 60%) and fewer ECOG 0 Triple refractory, # (%) 108 (84%) NA 85 (88%) 38 (100%) patients Penta refractory, # (%) 33 (26%) NA 41 (42%) 26 (68%) Greater percentage of

refractory Previous ASCT 120 (94%) 18 (24%) 87 (90%) 29 (76%) patients: Anito-cel Phase 1 Bridging Therapy, # (%) 112 (88%) NA 73 (75%) 26 (68%) enrolled all triple-refractory patients and had more penta- Median prior therapies 6 [3-16] 3 [1-9] 6.0

[3-18] 4 [3-16] refractory disease patients, unresponsive to other therapies *Defined as the presence of Del 17p, t(14;16), t(4;14); Anito-cel high-risk cytogenetics including +1q gain is n = 26 (68%); Cross-trial data interpretation should be

considered with caution as it is limited by differences in study population, study design, and other factors 18 4 6 7 Munshi et al.; Zhao et al.; Martin et al. (2023) A Arrc c ee llx ll x | 2023 ASH IR Event

Greater proportion of patients with ISS Stage III 4 6 7 KarMMa Legend-2

Cartitude-1 Anito-cel ph1 Greater percentage of patients N=128 N=74 N=97 N=38 with poor prognostic features: Anito-cel Phase 1 has higher rates BMPC > 60%, # (%) NA NA 21 (22%) 9 (24%) of patients with high tumor burden, ISS stage III,

EMD, and B2M > 5.5 (ISS stage 3), # (%) 21 (16%) 21 (28%) 14 (14%) 7 (18%) high-risk cytogenetics, which are all poor prognostic features for 50 (39%) EMD, # (%) 15 (20%) 13 (13%) 13 (34%) {incl. bone-based lesions} cell therapy High risk

cytogenetics, # (%)* 45 (35%) 15 (36%) 23 (24%) 11 (29%) Greater percentage of patients ECOG 0 57 (45%) 30 (41%) 39 (40%) 12 (32%) that are difficult to treat: Anito- cel Phase 1 has older patients Age group > 65, # (%) 45 (35%) NA 35

(36%) 20 (53%) (age 65), higher disease burden (BMPC 60%) and fewer ECOG 0 Triple refractory, # (%) 108 (84%) NA 85 (88%) 38 (100%) patients Penta refractory, # (%) 33 (26%) NA 41 (42%) 26 (68%) Greater percentage of

refractory Previous ASCT 120 (94%) 18 (24%) 87 (90%) 29 (76%) patients: Anito-cel Phase 1 Bridging Therapy, # (%) 112 (88%) NA 73 (75%) 26 (68%) enrolled all triple-refractory patients and had more penta- Median prior therapies 6 [3-16] 3 [1-9] 6.0

[3-18] 4 [3-16] refractory disease patients, unresponsive to other therapies *Defined as the presence of Del 17p, t(14;16), t(4;14); Anito-cel high-risk cytogenetics including +1q gain is n = 26 (68%); Cross-trial data interpretation should be

considered with caution as it is limited by differences in study population, study design, and other factors 19 4 6 7 Munshi et al.; Zhao et al.; Martin et al. (2023) A Arrc c ee llx ll x | 2023 ASH IR Event

Greater proportion of patients with EMD 4 6 7 KarMMa Legend-2