INDEX TO UNAUDITED CONDENSED CONSOLIDATED INTERIM FINANCIAL STATEMENTS Unaudited Condensed Consolidated Interim Statements of Financial Position as of

UNAUDITED CONDENSED CONSOLIDATED INTERIM STATEMENTS OF FINANCIAL POSITION

(All amounts in thousands of $)

The accompanying notes are an integral part of these unaudited condensed consolidated interim financial statements.

In connection with a reverse stock split of 100-to-1 effective November 14, 2024, all shares have been retroactively adjusted for all periods presented to give effect to this reverse stock split.

The accompanying notes are an integral part of these unaudited condensed consolidated interim financial statements.

UNAUDITED CONDENSED CONSOLIDATED INTERIM STATEMENTS OF SHAREHOLDERS' EQUITY (DEFICIT)

(All amounts in thousands of $, except for share and per share data)

Note: Other reserve includes amounts transferred from share-based payment reserve when the share options are exercised or the restricted shares are vested.

In connection with a reverse stock split of 100-to-1 effective November 14, 2024, all shares have been retroactively adjusted for all periods presented to give effect to this reverse stock split.

The accompanying notes are an integral part of these unaudited condensed consolidated interim financial statements.

(All amounts in thousands of $)

The accompanying notes are an integral part of these unaudited condensed consolidated interim financial statements.

Notes to Unaudited Condensed Consolidated Interim Financial Statements

1.GENERAL INFORMATION

Apollomics Inc. ("Apollomics" or the "Company") is a clinical-stage biotechnology company focused on discovering and developing oncology therapies to address unmet medical needs, especially for difficult-to-treat and treatment-resistant cancers. Since our founding in 2015, we have built an oncology-focused pipeline, including product candidates that have progressed into clinical-stage development. Our lead program, vebreltinib, has demonstrated initial promising clinical results.

The Company was originally formed as CB Therapeutics Inc. as a result of a spin-off from Crown Bioscience International, which was completed on December 31, 2015. Prior to December 2015, Crown Bioscience International, through its subsidiaries, was the owner of certain patent rights relating to certain of these drug candidates. In order to focus on its core business, namely providing preclinical contract research organization services, and allow the drug discovery and development related business to be operated and financed separately, Crown Bioscience International spun off its Taiwan subsidiary, Crown Bioscience (Taiwan), and contributed it to the Company. As a result, the Company became the owner of these patent rights.

In addition to its U.S. headquarters, the Company also has locations in Australia (Apollomics (Australia) Pty Ltd, formed in November 2016), Hong Kong (Apollomics (Hong Kong) Limited, formed in June 2019) and China (Zhejiang Crownmab Biotech Co. Ltd. and Zhejiang Crown Bochuang Biopharma Co. Ltd., formed in May 2018 and May 2020, respectively). The Company's headquarters and global drug development team is based in the United States (San Francisco Bay area), and its China drug development team is based in China (Hangzhou and Shanghai).

The unaudited condensed consolidated interim financial statements are presented in U.S. dollars ("$"). The Company's subsidiaries included in the unaudited condensed consolidated interim financial statements are listed below (the Company and its subsidiaries are collectively referred to herein as the "Group"). These unaudited condensed consolidated interim financial statements have been prepared based on the accounting policies which conform with International Financial Reporting Standards ("IFRSs") as issued by the International Accounting Standards Board ("IASB") and have been prepared under the assumption the Company operates on a going concern basis.

2.BASIS OF PREPARATION OF THE UNAUDITED CONDENSED CONSOLIDATED interim FINANCIAL STATEMENTS AND GOING CONCERN

The Group has evaluated whether there are material uncertainties' related to events or conditions that may cast significant doubt upon the Group's ability to continue as a going concern within one year after the date of these financial statements. Based upon the Group's balance of cash and cash equivalents of $2.1 million as of June 30, 2025, the Group estimates that it may not have sufficient liquidity to continue as a going concern through at least June 30, 2026. The Group will require additional capital, from equity, debt or strategic partnerships, to continue as a going concern in the future. It is uncertain whether such capital will be available in amounts or on terms acceptable to the Group, if at all.

As of and for the six months June 30, 2025, the Group had reported a net loss of $12.5 million, and accumulated losses of $713.4 million and net current liabilities of $0.3 million. These conditions indicate ongoing liquidity risk and the need for continued access to capital over the longer term, management has concluded that, based on its operating plan and existing cash resources, these conditions raise substantial doubt about the Group's ability to continue as a going concern within one year after the date of the financial statements. If the Group is not able to obtain additional capital to meet its cash requirements in the future, its business, financial condition, results of operations and prospects could be materially and adversely affected. There can be no assurance that management's attempts to raise additional capital will be successful.

Notes to Unaudited Condensed Consolidated Interim Financial Statements

The unaudited condensed consolidated interim financial statements have been prepared in accordance with International Accounting Standard 34 ("IAS 34") "Interim Financial Reporting" issued by the IASB as well as the rules and regulations of the U.S. Securities and Exchange Commission, and have been prepared under the assumption the Group operates on a going concern basis, which contemplates the realization of assets and satisfaction of liabilities and commitments in the ordinary course of business.

In connection with a reverse stock split of 100-to-1 effective November 14, 2024, all shares and notes thereto have been retroactively adjusted for all periods presented to give effect to this reverse stock split.

3.PRINCIPAL ACCOUNTING POLICIES

The unaudited condensed consolidated interim financial statements have been prepared on the historical cost basis except for certain financial instruments, which are measured at fair values.

Other than additional accounting policies resulting from application of amendments to IFRSs, and the application of IFRS 15, Revenue from Contracts with Customers, the accounting policies and methods of computation used in the unaudited condensed consolidated interim financial statements for the six months ended June 30, 2024 and 2025 are the same as those presented in the Group's annual financial statements for the year ended December 31, 2024.

Application of amendments to IFRSs

For the purposes of preparing and presenting the unaudited condensed consolidated interim financial statements for the six months ended June 30, 2025, the Group has applied the following amendments to IFRSs issued by the IASB, for the first time, which are mandatorily effective for the Group's annual period beginning on January 1, 2025:

The application of the amendments to IFRSs in the current interim period has had no material impact on the Group's financial position and performance for the current and prior periods and/or on the disclosures set out in these unaudited condensed consolidated interim financial statements.

New standards, amendments and interpretations not yet adopted by the Group

Certain standards, amendments and interpretations have been published through the June 30, 2025 reporting period and have not been early adopted by the Group. These are as follows:

Presentation and Disclosure in Financial Statements (IFRS 18 Presentation and Disclosure in Financial Statements ("IFRS 18")); and

Annual Improvements to IFRS Accounting Standards - Volume 11;

The Group is in the process of analyzing the impact of the above.

IFRS 15, Revenue from contracts with customers

The Group may enter into collaboration and licensing arrangements for research and development, manufacturing, and commercialization activities with counterparties for the development and commercialization of its product candidates. These arrangements may contain multiple components, such as (i) licenses, and (ii) the manufacturing of certain materials. Payments pursuant to these arrangements may include non-refundable payments, payments upon the achievement of significant regulatory, development and commercial milestones, sales of product at certain agreed-upon amounts, and royalties on product sales.

In determining the appropriate amount of revenue to be recognized as it fulfills its obligations under a collaboration or license agreement, the Group performs the following steps for agreements that are in scope of IFRS 15 Revenue from contracts with customers ("IFRS 15"): (i) identification of the promised goods or services in the contract; (ii) determination of whether the promised goods or services are performance obligations, including whether they are capable of being distinct; (iii)

Notes to Unaudited Condensed Consolidated Interim Financial Statements

measurement of the transaction price, including the constraint on variable consideration; (iv) allocation of the transaction price to the performance obligations; and (v) recognition of revenue as the Group satisfies each performance obligation.

The Group must develop estimates and assumptions that require judgment to determine the underlying stand-alone selling price for each performance obligation, which determines how the transaction price is allocated among the performance obligations. The estimation of the stand-alone selling price may include such estimates as forecasted revenues and costs, development timelines, discount rates and probabilities of regulatory and commercial success. The Group also applies significant judgment when evaluating whether contractual obligations represent distinct performance obligations, allocating transaction price to performance obligations within a contract, determining when performance obligations have been met, and assessing the recognition and future reversal of variable consideration.

4.CRITICAL ACCOUNTING JUDGMENTS AND KEY SOURCES OF ESTIMATION UNCERTAINTY

The preparation of the unaudited condensed consolidated interim financial statements requires the management of the Group to make judgments, estimates and assumptions that affect the application of accounting policies and the reported amounts of assets and liabilities, income and expense. The estimates and underlying assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

In preparing these unaudited condensed consolidated interim financial statements, the critical judgments made by the management of the Group in applying the Group's accounting policies and the key sources of estimation uncertainty were the same as those that applied to the consolidated financial statements for the year ended December 31, 2024.

5.REVENUE AND SEGMENT INFORMATION

In March 2025, Apollomics entered into an agreement for the development and commercialization in Asia (excluding mainland China, Hong Kong and Macau) of vebreltinib, Apollomics' proprietary c-Met inhibitor, in combination with an EGFR inhibitor ("EGFRi") for the treatment of non-small cell lung cancer ("NSCLC") and other tumor types with LaunXP International Co., Ltd. ("LaunXP"). Under the terms of the LaunXP agreement ("the Agreement"), Apollomics is to receive upfront payments totaling $10 million. Apollomics is also eligible for regulatory and other pre-commercial milestone payments of up to $50 million, and royalties on net product sales at a rate of 11%. Such royalties are payable on a Licensed Product-by-Licensed Product and Region-by-Region basis from first commercial sale and continue, in each case, until the latest of patent expiration, expiration of regulatory exclusivity, or fifteen years following first commercial sale in the applicable region. LaunXP will be primarily responsible for the development of vebreltinib in combination with an EGFRi in the LaunXP territory (all countries in Asia other than mainland China, Hong Kong and Macau) for the treatment of NSCLC.

The Group determined that the Agreement and the supply activities and materials transfer fall within the scope of IFRS 15. In calculating the transaction price, it determined the following two performance obligations under the agreement: (i) provide exclusive license and (ii) provide initial drug supply.

The Group allocated the transaction price to the performance obligations as of June 30, 2025 as follows:

For each of the performance obligations described above, the Group has determined the following methods of revenue recognition:

License: The Group recognizes revenue from the license at a point in time. Upon signing the LaunXP Agreement and transferring the license know-how, the Group no longer has any rights to the license in the LaunXP territory, and the Group does not have the obligation to improve, modify or update the license transferred. As such, there is no significant continued involvement in the license provided. LaunXP can begin to use and benefit from the license after the effective date of the Agreement and transfer of the license know-how as they are now the owner' of the underlying patents and know-how in the LaunXP territory. The transaction price allocated to the license performance obligation was determined using the residual approach, as the standalone selling price of the license is highly variable. In connection with the license performance obligation, the Group recognized revenue of $8.5 million for the six months ended June 30, 2025.

Notes to Unaudited Condensed Consolidated Interim Financial Statements

Initial clinical supply: The Group is responsible for providing LaunXP with the initial clinical trial drug supply. It is obligated to transfer this initial supply to LaunXP in accordance with the development plan. The Group has not transferred the initial supply of drug product to LaunXP as of June 30, 2025, and therefore has not triggered the recognition of revenue at the point in time.

As of June 30, 2025, the Group had received $1.3 million of the upfront payment and had recorded $7.2 million in accounts receivable on the unaudited condensed consolidated statements of financial position. The Group received an additional $3.9 million in October 2025 and expects the remaining $3.3 million to be received within twelve months from June 30, 2025.

Operating segments are defined as components of an entity for which separate financial information is made available and is regularly evaluated by the chief operating decision maker ("CODM") in making decisions regarding resource allocation and assessing performance. The Group's CODM is its Chief Executive Officer ("CEO"), and operations are managed as a single segment for the purposes of assessing performance and making operating decisions. The CODM reviews the consolidated results when making decisions about allocating resources and assessing performance of the Group as a whole and hence, the Group has only one operating and reportable segment and no further analysis of this single segment is presented.

Note i: For the six months ended June 30, 2024, the Group recognized $1.0 million of other income related to a license agreement that the Group determined to no longer provide negotiation rights to the licensee, and $0.5 million of income for a liability that was extinguished.

7.FOREIGN EXCHANGE GAINS AND LOSSES

The Group primarily operates in the United States, People's Republic of China ("PRC"), and Australia, with most of the transactions settled in the U.S. dollar. The Group's presentation and functional currency is the U.S. dollar. Certain bank balances, deposits and other payables are denominated in Renminbi and Australian dollar, which exposes the Group to foreign currency risk. The Group incurs portions of its expenses in currencies other than the U.S. dollar, in particular, the Renminbi and Australian dollar. As a result, the Group is exposed to foreign currency exchange risk as its results of operations and cash flows are subject to fluctuations in foreign currency exchange rates.

The Group has not entered into any derivative contracts to hedge against its exposure to currency risk during the six months ended June 30, 2024 or 2025.

Notes to Unaudited Condensed Consolidated Interim Financial Statements

8.loss for the period

No dividend was declared or paid by the Group during the six months ended June 30, 2024 and 2025, nor has any dividend been proposed since the period ended June 30, 2025.

The calculations of the basic and diluted loss per share are based on the following data:

The diluted loss per share for the six months ended June 30, 2024 and 2025 does not include the effect of the following instruments held as of June 30, 2024 and 2025 as their inclusion would be anti-dilutive:

The reverse stock split did not result in any change to the number of warrants outstanding. Instead, in accordance with the terms of the warrant agreements, the exercise price and the number of shares issuable upon exercise of the warrants were proportionately adjusted through a change in the exchange ratio. Accordingly, the number of warrants disclosed reflects the warrants outstanding both before and after the reverse stock split.

11.PLANT AND EQUIPMENT

Notes to Unaudited Condensed Consolidated Interim Financial Statements

The Group acquired $24 thousand and nil of equipment during the six months ended June 30, 2024 and 2025, respectively. The Group also disposed of equipment totaling $18 thousand and $64 thousand during the six months ended June 30, 2024 and 2025, respectively.

12.RIGHT-OF-USE ASSETS

Lease agreements are entered into for fixed lease terms of 12 to 60 months, without extension and termination options. Lease terms are negotiated on an individual basis and contain a wide range of different terms and conditions. In determining the lease term and assessing the length of the non-cancellable period, the Group applies the definition of a contract and determines the period for which the contract is enforceable. The Group recognized right-of-use assets of $0.9 million and lease liabilities of $0.9 million during the six months ended June 30, 2024, and recognized right-of-use assets of $0.7 million and lease liabilities of $0.7 million during the six months ended June 30, 2025. During the six months ended June 30, 2025, the Group derecognized right-of-use assets and lease liabilities totaling $0.1 million following the early termination of a lease.

13.INTANGIBLE ASSETS

Intangible assets with finite useful lives that are acquired separately are carried at cost less accumulated amortization and accumulated impairment losses, if any. Amortization for intangible assets with finite useful lives is recognized on a straight-line basis over their estimated useful lives. The estimated useful life and amortization method are reviewed at the end of each reporting period, with the effect of any changes in estimate being accounted for on a prospective basis. Intangible assets not yet available for use that are acquired separately are carried at cost less any subsequent accumulated impairment losses.

On May 6, 2024, GlycoMimetics, the Group's licensor of uproleselan in China, announced negative results from its pivotal Phase 3 study of uproleselan in relapsed or refractory acute myeloid leukemia. The Group has been conducting a Phase 3 bridging study of uproleselan in China for the same indication. The Group believes that positive results from the GlycoMimetics global study was necessary for approval of uproleselan in China for this indication. Therefore, as a result of these negative Phase 3 results from GlycoMimetics, the Group determined the recoverable amount was lower than the carrying value of the intangible asset and recorded an impairment loss of $10.0 million to write down the full value of our intangible asset for this program.

As of December 31, 2024, the Group's intangibles had a total cost of $1.8 million and accumulated amortization of $0.1 million, for a net book value totaling $1.7 million.

On December 11, 2025, the Group issued a formal notice of termination to Edison Oncology Holding Corporation ("Edison") regarding the Development and License Agreement for APL-122 (EO1001), citing Edison's failure to meet certain material performance and reporting obligations under the agreement. The termination was effective immediately, and the Group disputes any outstanding payment obligations claimed by Edison based on its non-performance. The Group determined that the related intangible asset was no longer recoverable and recorded an impairment loss of $1.5 million for the six months ended June 30, 2025, writing down the remaining carrying value of the asset.

As of June 30, 2025, the Group's intangibles had a total cost of $0.3 million and accumulated amortization of $0.1 million, for a net book value totaling $0.2 million.

14.DEPOSITS, PREPAYMENTS AND DEFERRED EXPENSES

15.CASH AND CASH EQUIVALENTS

Bank balances earned interest at interest rates ranging from 0% to 5.1% per annum for the six months ended June 30, 2024 and from 4% to 4.2% per annum for the six months ended June 30, 2025.

Cash and cash equivalents presented on the unaudited condensed consolidated statements of financial position include:

Notes to Unaudited Condensed Consolidated Interim Financial Statements

(a) cash, which comprises of cash on hand and demand deposits; and

(b) cash equivalents, which comprises of short-term (generally with original maturity of three months or less), highly liquid investments that are readily convertible to a known amount of cash and which are subject to an insignificant risk of changes in value. Cash equivalents are held for the purpose of meeting short-term cash commitments rather than for investment or other purposes.