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Forward-Looking Statements This presentation contains forward-looking
statements within the meaning of Section 27A of the Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, as amended, that are based on our management's beliefs and assumptions and on information currently
available to our management. All statements other than statements of historical facts contained in this presentation, including, but not limited to, the following are forward-looking statements: statements regarding the attributes of the D-Domain
and its potential benefits; the safety and efficacy profiles of anito-cel, its potential to be best-in-class, the speed, reliability and scalability of its manufacturing, the ability of patients to access anito-cel, and growth opportunities for
anito-cel; enrollment in the iMMagine-3 study; our future financial condition, results, strategy, operations and prospects; plans and timelines for the preclinical and clinical development of our product candidates, including the therapeutic
potential, clinical benefits and safety profiles; expectations regarding timing, success and data announcements of our preclinical studies and clinical trials, the initiation, timing, progress and results of our current and future preclinical
studies and clinical trials; our plans to develop and commercialize our current and future product candidates, alone or with other parties; the plans and objectives of management; and the industry size and trends and market opportunities. In some
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trends that we believe may affect our financial condition, results of operations, business strategy and financial needs, and these statements represent our views as of the date of this presentation. We may not actually achieve the plans, intentions
or expectations disclosed in these forward-looking statements, and you should not place undue reliance on these forward-looking statements. Forward-looking statements are inherently subject to risks and uncertainties, including those set forth in
Part II, Item 1A (Risk Factors) in the Quarterly Report on Form 10-Q for the quarter ended September 30, 2024, filed with the Securities and Exchange Commission (SEC) on November 7, 2024, and the other documents that we may file from time to time
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Securities and Exchange Commission (SEC), actual results could vary significantly from those anticipated in this presentation, and our financial condition and results of operations could be materially adversely affected. 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. 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. 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. 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. 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 we have not independently verified the accuracy or completeness of the data contained in these industry publications and other publicly available information. Accordingly, we make no representations as to the
accuracy or completeness of that data. 2 Arcellx | 2024 ASH IR Event
Agenda Opening Remarks 10 min Rami Elghandour Chairman and Chief
Executive Officer, Arcellx iMMagine-1 Oral Presentation 20 min Ciara L. Freeman M.D., Ph.D iMMagine-1 Clinical Study Investigator Physician Panel Discussion 30 min Q&A 30 min 3 Arcellx | 2024 ASH IR Event
Potential best-in-class therapy partnered with Kite, the global leader
in cell therapy. Scalable manufacturing and commercial footprint to support a Different Kind leadership in a $12B+ Multiple Myeloma cell therapy market. of Cell Therapy Company Sufficient capital to fund operations into 2027.
Anitocabtagene Autoleucel (anito-cel/CART-ddBCMA) 1,2 Autologous
BCMA-directed CAR T-cell therapy using a novel, D-Domain binder Anito-cel attributes from novel D-Domain Small D-Domain construct Low total cell facilitates high transduction dose efficiency and CAR positivity, which permit a low total cell dose
Rapid folding, lack of disulfide Lack of tonic bonds, and a hydrophobic core signaling enables D-Domain stability and 5,6 lack of tonic signaling 4 The D-Domain has a fast off-rate 3,4 Optimal and high CAR surface expression. tumor cell This
combination may allow scFv Bivalent camelid VHH D-Domain killing optimal tumor cell killing without (~25 kDa) (~30 kDa) (~8 kDa) prolonged inflammation BCMA is B-cell Maturation Agent; CAR T is Chimeric Antigen Receptor T cell 1 2 3 4 5 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; 21(7):1171-1183; Zhu, et al. 6 5 Proc. Nat. Acad. Sci.
2003; 100(26): 15486-15491; Qin, et al. Mol. Ther. 2019; 27(7): 1262-1274 Arcellx | 2024 ASH IR Event
Anito-cel: The BCMA CAR T Without Compromise Potential Best-in-Class
Differentiated Safety Profile Rapid and Reliable Efficacy Profile with No Delayed Neurotoxicity Manufacturing 1 Phase 1 median PFS of 30.2 months Zero cases of delayed neurotoxicity <17-day turnaround time for or other
non-ICANS neurotoxicity patients treated in iMMagine-3, in seen in >150 patients treated with line with other Kite commercial iMMagine-1 pivotal trial consistent anito-cel to date CAR Ts with Phase 1 findings, with comparable ORR, CRR,
MRD-, and 6- and 12-mo PFS and OS % iMMagine-1 had highest rates of 96% commercial manufacturing < Grade 1 CRS (86%) and no ICANS success rate with >25,000 patients 1 (91%) out of all BCMA CAR T pivotal treated from Kite's
global CAR T Similar efficacy profile, with trials infrastructure comparable depth and durability of responses observed across high- risk subgroups Favorable safety profile can get Expansive market presence with 1 patients
home sooner, expanding 500+ ATCs globally will provide capacity at hospitals, and lowering unparalleled access to anito-cel resource utilization / cost of care ORR is Overall Response Rate; CRR is Complete Response Rate; MRD is Minimum Residual
Disease; PFS is Progression Free Survival; OS is Overall Survival; ICANS is Immune Effector Cell-associated Neurotoxicity 1 Syndrome, CRS is Cytokine Release Syndrome; Kite Data 6 Arcellx | 2024 ASH IR Event
Multiple Myeloma is a Large Global Market Opportunity for CAR T ~$20B
~$12B 1L+ ~$3.5B 2L+ Future growth iMMagine-3 captures opportunities in largest anticipated treating frontline MM coverage (95%) of patients and 4L+ $12B Total retreating CAR T Addressable patients Anito-cel potential Market (2L+) in CAR T
best-in-class at steady state candidate at launch Note: Based on internal projections and estimates of 2024 MM Incidence, which management believes are reasonable and accurate, key assumptions include: 2L+ steady-state figures in US, EU7, Canada,
Australia, and Japan and 75% anti-CD38 utilization in frontline by 2028E 7 Total Estimated Market Opportunity Arcellx | 2024 ASH IR Event
Anito-cel Facilitates Current MM CAR T Adoption Drivers CAR T Journey
CAR T CAR T Post Infusion Apheresis Manufacturing Infusion Monitoring Current CAR T Challenges Limited US ATC High Long turnaround High rates of footprint out-of-spec rates time hospital admission 78 Carvykti ATCs ~20-30% products out of 70d median
vein to vein time ~85-95% of patients treated 1 130 Abecma ATCs specification and (range: 36 - 275 days) outpatient admitted to 1 2 not reimbursed yields patient dropout from hospital ; delayed neurotoxicity disease progression may also
require admission Anito-cel: The BCMA CAR T without compromise Accessibility Consistency Reliability Differentiated Safety >150 Kite >96% Mfg <17-day 0 delayed neurotox 3 3 3 US ATCs Success Rate turnaround 86% < Grade 1 CRS ATC estimate
for Carvykti, Abecma, and Anito-cel are based on publicly available information and are as of Nov. 2024; Kite will be manufacturing the iMMagine-3 clinical supply, and if approved, commercial product 1 2 3 Carvykti real world evidence (Q1 2022
- Q4 2022) data shown (Sidana et al., 2024), Fierce Pharma (Liu, 2023); Carvykti - Outpatient Administration" Janssen Science (Apr 2024); Kite Data 8 Arcellx | 2024 ASH IR Event
Anito-cel Can Significantly Expand CAR T Access for MM Patients
Anito-cel has seen 0 cases of Parkinsonism, Anito-cel CRS median time to onset ~4 days and Guillain-Barr syndrome, or cranial nerve palsies, median duration ~3 days, potentially limiting time in potentially driving patient volume in earlier
lines of hospital and driving outpatient treatment therapy All other 100% 100% BCMA agents 86% (~7% of all cases of 80% 80% delayed neurotoxicity*) Carvykti 60% 60% (~93% of all cases of 40% 40% delayed 17% 20% neurotoxicity*) 20% 0% 0% iMM-1 No CRS
iMM-1 Gr < 1 CRS Q1 - Q3 2024 ~92% of iMM-1 patients had no CRS symptoms 10 days Anito-cel has seen 0 cases of delayed or non-ICANS from infusion neurotoxicity to date >80% of CAR T cases have favorable reimbursement through case rate
agreements or ASP+ *FDA FAERS Database Query was "CRANIAL NERVE PARALYSIS", "CRANIAL NERVE PALSIES MULTIPLE", "GUILLAN-BARRE SYNDROME", "PARKINSONISM" Komodo claims analysis from 3/1/2022-3/1/2023;
Freeman et al., Oral Presentation, ASH (Dec 2024); FDA FAERS Database 9 Arcellx | 2024 ASH IR Event
iMMagine-3 Global Phase 3 Trial with Kite Manufacturing, Currently
Enrolling Multi-center, Global, Phase 3 Randomized Controlled Clinical Trial (RCT) for anti-CD38 mAb and IMiD exposed patients Largest percentage of second line (2L) patients as anti-CD38 mAbs become standard of care in front line (1L)
Anticipate high physician interest in iMMagine-3 based on: o Potential best-in-class product profile o Relevant standard of care alternatives o Rapid and reliable turnaround time with Kite manufacturing Easy to identify patient
population, expected to streamline access to anito-cel post approval Confirmatory RCT will include ~450 adult patients randomized 1:1 in US and Intl sites mAbs is monoclonal antibodies; IMiD is Immunomodulatory drugs 10 Arcellx | 2024 ASH IR
D-Domain Technology: Expansive Platform ARC-SparX Dosable CAR T ddCAR
Classical Single Infusion CAR T Ability to leverage autologous or allogeneic strategies Therapeutic potential across liquid and solid tumors as well as non-oncology indications 11 CONFIDENTIAL Arcellx | 2024 ASH IR Event
A Rich Development Pipeline with Growth in Mind DISCOVERY PRECLINICAL
PHASE 1 PHASE 2 PHASE 3 PARTNER Multiple Myeloma iMMagine-1: anito-cel (4L+) iMMagine-3: anito-cel earlier lines (2L+) ACLX-001: BCMA Arc-SparX Acute Myeloid Leukemia ACLX-002: CD123 Arc-SparX ACLX-003 ACLX-004 Non-Oncology Generalized Myasthenia
Gravis: anito-cel Solid Tumors SCLC HCC 12 Arcellx | 2024 ASH IR Event
Agenda Opening Remarks 10 min Rami Elghandour Chairman and Chief
Executive Officer, Arcellx iMMagine-1 Oral Presentation 20 min Ciara L. Freeman M.D., Ph.D iMMagine-1 Clinical Study Investigator Physician Panel Discussion 30 min Q&A 30 min 13 Arcellx | 2024 ASH IR Event
Anito-cel Phase 1: 100% Overall Response and 79% Complete Response 100%
99.6% 97.9% 100% 87.8% 15% 90% 21% 26% 15% 80% 73.4% 70% ORR 60% VPGR+PR 40% 50% CR/sCR 82% 40% 79% 74% 73% 30% 20% 33% 10% 0% Anito-cel Ph1 Cartitude-1 MAIC Cartitude-1 KarMMa Legend-2 38.1 mo. follow-up 27.7 mo. follow-up 27.7 mo. follow-up 24.8
mo. follow-up 47.8 mo. follow-up 1 2 3 4 5 (n=38) (n=97) (n=97) (n=128) (n=74) Data cut-off October 3, 2024 Note: MAIC is matching-adjusted indirect comparison, a J&J study comparing Cartitude-1 results by adjusting its population to match that
of KarMMa; Data above are not from head-to-head studies. Cross-trial data 14 interpretation should be considered with caution as it is limited by differences in median follow-up, study population, design, and other factors. 1 2 3 4 5 Bishop et al.
(2024); Martin et al. (2022); Martin et al. (2023); Anderson et al. (2021); Zhao et al. Arcellx | 2024 ASH IR Event
Anito-cel Phase 1: Median PFS is 30.2 Months Anito-cel Phase 1 Median
Follow-up 38.1 months Minimum Follow-up 25.0 months 95% Time PFS Confidence (months) Estimate (%) Interval (%) 6 92.1 (77.5, 97.4) 12 75.9 (58.7, 86.6) All 18 65.0 (47.5, 78.0) Subjects (n=38) 24 56.6 (39.2, 70.8) Time from Infusion (Months) All
Subjects 38 34 28 24 19 12 6 3 2 1 0 30 50.3 (33.0, 65.3) With CR/sCR 30 28 26 23 19 12 6 3 2 1 0 Note: Data cut-off October 3, 2024 Bishop et al, American Society of Hematology 2024, Poster 4825 15 Arcellx | 2024 ASH IR Event
Anito-cel iMMagine-1: Phase 2 Study Design Lymphodepleting chemotherapy
2 Cyclophosphamide 300 mg/m 2 Fludarabine 30 mg/m Leukapheresis Day -5, -4, -3 Anitocabtagene Anitocabtagene Response and safety autoleucel Long-term safety Screening autoleucel assessments infusion follow-up manufacturing (up to 24 months) Day 0
Bridging therapy if necessary Key Eligibility Criteria Primary Endpoint: Prior IMiD, PI, and CD38-targeted therapy ORR, per 2016 IMWG criteria Received 3 prior lines of therapy Key Secondary Endpoints:
Refractory to the last line of therapy ECOG PS of 0 or 1 sCR/CR rate, per 2016 IMWG criteria Evidence of measurable disease ORR in patients limited to 3 prior LoT, per 2016 IMWG 6 Target Dose of 115 x 10 CAR+ T cells
criteria Primary and key secondary endpoints to be assessed per Independent Review Committee (IRC); Investigator assessment of response per IMWG also permitted per protocol. CR, complete response; ECOG PS, Eastern Cooperative Oncology Group
Performance Status; IMiD, immunomodulatory drug; IMWG, International Myeloma Working Group; LoT, line of therapy; ORR, overall response rate; PI, 16 proteosome inhibitor; sCR, stringent complete response. Freeman et al., Oral Presentation, ASH (Dec
2024) | Freeman et al, American Society of Hematology 2024, Abstract 1031 Arcellx | 2024 ASH IR Event
Anito-cel iMMagine-1: Overall Patient Disposition and Evaluable
Populations Enrolled (Leukapheresed) Discontinued: n=11 n=129 Withdrawal of Consent, n=4 Disease Progression, n=4 Intercurrent Illness, n=1 Investigator Decision, n=1 Lymphodepletion No longer eligible due to
myocardial infarction, n=1 n=118 Discontinued: n=1 Withdrawal of Consent, n=1 Total Dosed n=117 Safety Evaluable Efficacy Evaluable n=98 n=86 Subjects followed for 1 month by data Subjects followed for 2 months by cut-off of
October 31, 2024 are data cut-off of October 31, 2024 are evaluable for safety analysis evaluable for efficacy analysis Anito-cel was successfully manufactured for 99% of patients enrolled Total Patients Dosed per clinical database as of
presentation date [12/09/2024] Freeman et al., Oral Presentation, ASH (Dec 2024) 17 | Freeman et al, American Society of Hematology 2024, Abstract 1031 Arcellx | 2024 ASH IR Event
Anito-cel iMMagine-1: Patient and Disease Characteristics 1 2 3
Anito-cel iMMagine-1 Cartitude-1 KarMMa N=98 N=97 N=128 Age group > 65, # (%) 51 (52%) 35 (36%) 45 (35%) 5 Age group > 70, # (%) 30 (31%) -- 20 (16%) Gender (Male / Female) 56% / 44% 59% / 41% 59% / 41% Black / African-American, # (%) 9 (9%)
17 (18%) -- a ECOG 0 45 (46%) 39 (40%) 57 (45%) b EMD , # (%) 16 (16%) 13 (13%) 50 (39%)* c High risk cytogenetics , # (%) 39 (40%) 23 (24%) 45 (35%) Median prior therapies (min-max) 4 (3-8) 6 (3-18) 6 (3-16) 3 Prior lines of therapy, # (%) 45 (46%)
17 (18%) 128 (100%)** Refractory to last line, # (%) 98 (100%) 96 (99%) 128 (100%)** 85 (87%) 85 (88%) 108 (84%) Triple refractory, # (%) 41 (42%) 41 (42%) 33 (26%) Penta refractory, # (%) 4 5.9 (2 - 18) 6.0 (1 - 18) Median time since
diagnosis (min-max) 7.2 (1 - 23) 73 (75%) 87 (90%) 120 (94%) Prior ASCT, # (%) 65 (66%) 73 (75%) 112 (88%) Bridging therapy, # (%) 8 (8%) 0 (0%) 0 (0%) Outpatient administration Anito-cel iMMagine-1 data cut-off October 31, 2024; *Includes
bone-based lesions (plasmacytomas); **Assumed per protocol requirements Cross-trial data interpretation should be considered with caution as it is limited by differences in study population, study design, and other factors; a) Eastern Cooperative
Oncology Group Performance Status Scale; b) EMD is a form of Multiple Myeloma characterized by the presence of a non-bone based plasmacytoma; c) Defined as the presence of Del 17p, t(14;16), or t(4;14) 18 1 2 3 4 5 Freeman et al., Oral Presentation,
ASH (Dec 2024); Martin et al. (2023); Munshi et al. (2021); Janssen Carvykti Prior Line of Therapies (Dec 2024); Berdeja et al. (2020) Arcellx | 2024 ASH IR Event
Anito-cel iMMagine-1: Overall Response Rate and MRD Negativity Efficacy
Evaluable Patients (N=86) ORR=97% 15% At a median follow-up of 9.5 months, ORR was 97% and sCR/CR rate was 62% 20% 93.1% (n=54/58) of evaluable patients were -5 VGPR MRD negative at minimum of 10 sensitivity 81% sCR/CR 62% 62% Evaluable
Months Patients (min - max) Median time to first response 83 1.0 (0.9 - 7.3) -5 Median time to MRD negativity of 10 54 1.0 (0.9 - 6.4) Efficacy Evaluable Patients (N=86) Best Response: sCR/CR VGPR PR Responses are investigator assessed per