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CELULARITY'S VISION To deliver innovative off-the-shelf allogeneic
cellular medicines for patients with high unmet need at unparalleled scale, quality and cost. Lead the evolution in placental-derived therapeutics: advance the discovery of the placenta as a limitless, renewable source of neonatal cells, which are
biologically preferred to cells from adult bone marrow or peripheral blood. Target large markets with high unmet need: broad therapeutic application including cancer, infectious, and degenerative diseases. Develop safe and effective therapies:
leverage inherent advantages of placental-derived cells to produce uniform, scalable and optimized cellular medicines. Deliver off-the-shelf, affordable therapies: cryopreserved allogeneic cellular medicines and biomaterial products that clinicians
can access on demand and off-the-shelf, enabling repeat dosing/multiple cycles as required in an outpatient setting. Page 3
CELULARITY: COMPANY HISTORY Celgene Spin-out (2017) Leveraging 20+ Years
of Cellular Therapeutics Innovation Celularity and GX Acquisition IND Safe to Proceed Orphan Drug Designation Corp. Announced Merger CYNK-101 in for CYNK-101 in the FIH cryopreserved Agreement to Create a Publicly Company Ticker Advanced HER2/neu
Treatment of Advanced allogeneic placental- Listed Leader in Allogeneic Updated to "CELU" Positive Gastric and HER2/neu Positive derived NK cell therapy Cellular Therapy on Nasdaq GEJ Cancers Gastric and GEJ Cancers program launched
$100M Series (CYNK-001) B-1 Financing Fast Track Orphan Drug formed from Allogeneic Placental Placental Designation by Designation for Celgene Cell Pluripotent Cell T-cell/CAR-T Partnership with the FDA for CYNK-001 in the 1 program launched
Therapeutics spin- program launched CYNK-001 in the Treatment of out (APPL-001) (CyCART-19) Treatment of AML Malignant Gliomas 2000 2016 2017 2018 2019 2020 2021 2022 $45M Series $210M Placental IND Safe to Genetically-modified Exclusive Strategic
Preclinical Data on Multi-Year Strategic A Financing Series B Exosome Proceed NK cell therapy Partnership with CYNK-101 and Partnership with 2 Financing program CYNK-001 CAR-NK at the 63rd program launched launched in GBM ASH Annual Meeting
(CYNK-101) (pExo) IND Safe to Proceed Fast Track Exclusive Supply and Preclinical Data Fast Track CYNK-001 in COVID-19 Designation by Distribution Agreement for on CYNK-101 at Designation by the the FDA for Multiple Commercial 36th SITC Annual FDA
for CYNK-101 in 2000 - Anthrogenesis Corporation - Founded by Dr. Robert Hariri CYNK-001 in the Products with Meeting the Treatment of Treatment of Advanced HER2/neu 2002 - Anthrogenesis acquired by Celgene, becomes Celgene
Cellular Therapeutics Recurrent GBM Positive Gastric and 2005 - Allogeneic Placental Mesenchymal-like Stromal Cells in Crohn's, DFU GEJ Cancers 2014 - Celgene & Bluebird Bio Autologous CAR-T Collaboration 2015 - Celgene
& Juno Therapeutics Autologous CAR-T collaboration KEY: CORPORATE MILESTONE CLINICAL MILESTONE FINANCIAL MILESTONE 2016 - FIH allogeneic placental-derived NK cell therapy product (Placental NK-007) 1, 2 Celularity continues to work with
collaboration partners and may elect to provide updates at upcoming conferences. Page 4
CELULARITY PLACENTAL-DERIVED PRODUCT PLATFORM Capitalizing on the
Benefits of Placental-Derived Cells to Target Multiple Diseases One Placenta Many Patients Cryopreserved - On Demand T-Cell Isolation + Genetic Modification Universal donor material & Off-The-Shelf No requirement for
matching No immunogenicity or toxicity between a patient and donor Re-dose\fine tune treatments NK CD 34+ Cell Isolation CELL Absence of allo-antibodies THERAPY PLACENTA PRODUCTS NK CD34+ Cell Isolation + Genetic Modification
Mesenchymal-like Stromal Cell Isolation 1 Donor Postpartum Placenta Abundant, reliable, renewable and biologically consistent raw material Nature's professional' universal donor tissue +140 Million
Worldwide HEMATOLOGICAL SOLID DEGENERATIVE INFECTIOUS MALIGNANCIES TUMORS DISEASES DISEASE Greatest Degree of Natural Stemness Greater proliferative performance (Cmax), and persistence Greater natural immune tolerance 100-100K
Doses/Placenta High scalability Page 5
SINGLE-SOURCE, PLACENTA-BASED PLATFORM DRIVING BROAD PIPELINE 4 Key Cell
Types Driving 6 Clinical Indications and Potential for Broad Expansion SINGLE SOURCE 4 ALLOGENEIC 4 KEY PROGRAMS 6 INITIAL INDICATIONS MATERIAL CELL TYPES Placental CyCART-19 B-Cell Malignancies CAR-T AML CYNK-001 Unmodified NK (cryopreserved)
Glioblastoma Multiforme Placenta CYNK-101 HER2+ Gastric Cancer Genetically Modified NK CD16VP+ mAb Crohn's Placental Mesenchymal- APPL-001/ PDA-002 like Stromal Cells FSHD = INITIAL INDICATIONS OF FOCUS MANUFACTURING >> Purpose-built,
fully integrated manufacturing facility; rapidly scalable, end-to-end supply chain P Page age 6 6
MANUFACTURING OVERVIEW Fully Integrated, Purpose-Built Commercial Scale
Manufacturing Site Including Translational Research & Biorepository PURPOSE BUILT FACILITY FOR STAFFED BY OVER 100 HIGHLY COMMERCIAL SCALE, GMP-READY COMMERCIAL-SCALE CELLULAR SPECIALIZED SCIENTISTS, ENGINEERS THERAPEUTIC MANUFACTURING &
TECHNICIANS 9 Grade C/ISO 7 suites Optimized, product-specific CMC, QA/QC and 6 Grade D/ISO 8 labs $80M investment in cGMP/cGTP manufacturing manufacturing processes accelerate product Enables greater control,
efficiency and development, production and commercialization Dedicated translational research labs optimization than is achievable by outsourcing to contract manufacturing organizations (CMOs) Over 2 decades of experience with source
material alone procurement Celularity benefits from Celgene's 20 year+ investment in developing the technologies and capabilities required to manufacture cellular products at scale with consistent and reliable quality Page 7
OUR EXPERIENCED LEADERSHIP TEAM With Deep Expertise in Cell Therapy
Executive Leadership Team David Bradley Glover, Anne Jones, Robert J. Hariri, Andrew Pecora, John Dr. Stephen Keary Beth MD, PhD MD, FACP, CPE Haines Beers PhD PhD Brigido Dunn, Esq. Steinbrenner President Chief Financial Chief Technology Chief
Business President, Founder, Chairman Chief Operating EVP & General EVP, Human Officer Officer Officer Degenerative Diseases Officer Counsel Resources & CEO Anthrogenesis C O R P O R A T I O N Page 8
CLINICAL PIPELINE Overview Placental Derived Program Indication
Preclinical IND Submission Phase I Phase II Cell Type Acute Myeloid Leukemia (AML) Unmodified CYNK-001 Natural Killer Cell Glioblastoma Multiforme (GBM) ONCOLOGY Genetically CYNK-101 HER2+ Modified + mAb Gastric Cancer Natural Killer Cell B-Cell
CAR-T CYCART-19* Malignancies Crohn's APPL-001 Disease DEGENERATIVE Placental Mesenchymal- DISEASES like Stromal Cells Facioscapulohumeral Muscular Dystrophy PDA-002 (FSHD) *includes technology in-licensed from Sorrento Therapeutics, Inc. Page
Cell Characterization
THE PLACENTA IS ENRICHED FOR NA VE/SCM T CELLS COMPARED TO HEALTHY
DONOR PERIHPERAL BLOOD ENABLING PRODUCTION OF CAR-T CELLS WITH GREATER ACTIVITY IN ANIMAL MODELS Placenta T cell starting material contains similar CD4/CD8 ratio as healthy adult blood T cells PBMC T Placenta T Stem Cell Central Effector Marker
Na ve Memory Memory Memory CD45RA + + - +/- CD27 +++ +++ ++ +/- CCR7 +++ +++ ++ - CD28 ++ +++ +++ +/- Telomere +++ +++ ++ + The primary T cell population in placenta are T and Self-renewal + +++ ++ + N T which retain the greatest proliferative
potential IFN- - + ++ +++ SCM IL-2 - ++ +++ +/- Cytotoxicity - +/- + +++ Adopted from Gattinoni et al. Nature Reviews Cancer 2012 PBMC T Placenta T P Page age 11 11 Function Phenotype
CYCART-19 (PLACENTAL CAR-T) RETAINED STEMNESS VS PBMC CD19 CAR-T POST
MANUFACTURING Our process uses CRISPR to knockout CYCART-19 cells had better retention of the TRAC and transduction of CD19-CAR T population following manufacturing SCM PBMC CD19 CAR-T CYCART-19 PBMC CD19 CAR-T CYCART-19 CYCART-19 cells yielded a
preferable CYCART-19 had longer telomeres, resisted expression of CD4/CD8 CAR-T cell ratio closer to 1:1 senescence marker CD57 and checkpoint inhibitor LAG3 PBMC CD19 CAR-T CYCART-19 PBMC CD19 CAR-T CYCART-19 P Page age 12 12
CYCART-19 SECRETED HIGH LEVELS OF IL-2 AS COMPARED TO PBMC DERIVED
CAR-T, CONFERRING A POTENTIAL CAR-T CELL SURVIVAL AND PROLIFERATION BENEFIT CYCART-19 and PBMC CD19-CART were similarly cytotoxic CD4 and CD8 CYCART-19 cells strongly expressed IL-2 PBMC CD19 CAR-T CYCART-19 NT PBMC T NT CYCART CYCART-19 secreted
high levels of IL-2 and low levels of IFN following stimulation by CD19+ lymphomas PBMC CD19 CAR-T CYCART-19 Enhanced Intrinsic IL-2 production is expected to help sustain CYCART-19 survival, proliferation, resist exhaustion, and
maintain persistence in vivo - M. Kahan et al, Science Immunology 2022 Reduced IFN production by CYCART-19, is expected to limit local PD-L1 upregulation, which may mitigate severity of CRS P Page age 13 13 CD19 CAR-T CD19 CAR-T
CYNK-001 AML and GBM
CYNK-001(unmodified NK cellular therapy) Overview RATIONALE NK CELL
THERAPIES NK cells are natural immune cells that eradicate both cancer and virus- infected cells ADULT CELULARITY Cell Therapy DONOR CYNK-001 & - Key mediators of antibody-dependent cellular cytotoxicity (ADCC) Technology Scorecard
DERIVED CYNK-101 Placental-derived NK cells exhibit: Source Procurement Non-invasive Collection / Reliable - distinct, maturation and activation states Procurement - an immature phenotype Lower COGs - longer
telomere length in comparison to PB NK cells, which suggests Standardized, Scalable Manufacturing high in vivo proliferation and persistence Starting Material Consistent Quality and Phenotype KEY HIGHLIGHTS CYNK-001 (unmodified
NK cellular therapy) Ability to Readily Expand While Maintaining a Less Preclinical data support anticancer activity against a range of hematological Differentiated Phenotype malignancies and solid tumors Phase 1 trial in
relapsed/refractory (r/r) AML showed early signs of clinical "Off-the-Shelf" Treatment benefit and a generally positive safety profile Estimated trial completion in 2023 Ability to Re-dose Patients
Anticipated BLA in 2025 for AML (if Necessary) Anticipated BLA To Be Determined for GBM Page 15 MANUFACTURING COMPLEXITY
PERSISTENCE, MATURATION AND PROLIFERATION WITH ABSENCE OF ALLO-HLA
ANTIBODIES PNK-007 demonstrated persistence Persistent PNK-007 cells up to 28 days (mean=11days) matured and proliferated No detectable exhaustion PNK-007 demonstrated Absence of allo-HLA on PNK-007 cells effector function post infusion antibodies
in all subjects H L A -A/B/C P an el R ea ctiv e A n tib o d y T est (+ ) co n tro l (-) co n tro l scr e e n in g D ay 0 D ay 7 D ay 14 D ay 21 D ay 28 F IT C G eom . M ean Source: AACR 2019 poster: Immune monitoring of CYNK-001, an allogeneic, off
the shelf NK cell in a Phase I study of acute myeloid leukemia", Celularity data; *CYNK-001 is a P Page age 16 16 comparable cryopreserved formulation of PNK-007, the product used in this study 0 10 0 20 0 30 0 40 0 50 0 60 0
CYNK-001-AML-001 (MRD+ AND RELAPSED REFRACTORY AML) Phase 1 Study
Schema - Trial in progress Enrolling Cohort 4a: Cohort 5a: Cohort 6a: Cohort 7a: EXPANSION COHORT AML MRD+ AML MRD+ AML MRD+ AML MRD+ AML MRD+ (N=4) Lymphodepletion Regimen #1 1.8B x3 1.8B x3 1.8B x 4 3B x 4 (12B) MTD/MPD of CYNK (5.4B) (5.4B)
+ IL2* (7.2B) + IL2* + IL2* +/- IL2* Cohort 2: Cohort 3: Cohort 1: AML MRD+ AML MRD+ AML MRD+ Lymphodepletion Regimen #2 1.2B Cells 1.8B Cells of 600M Cells of CYNK* CYNK* of CYNK* Cohort 5b: Cohort 6b: Cohort 7b: EXPANSION COHORT Cohort 4b: R/R AML
R/R AML R/R AML R/R AML R/R AML (N=4) 1.8B x3 1.8B x 3 1.8B x 4 3B x 4 (12B) MTD/MPD of CYNK (5.4B) (5.4B) + IL2* (7.2B) + IL2* + IL2* +/- IL2* * CYNK-currently given on Days 0, 7,14 and D21 (for cohorts 6 & 7) LD Regimen #2 LD Regimen #1 For
Cohorts with IL-2 - Dose 6M IU on Days 0,2,4,7,9,11,14 & D21 (cohorts 6 & 7) Lymphodepletion Lymphodepletion for Cohorts 1 to 3 for Cohorts 4 to 6 Developed an enhanced Lymphodepletion Regimen implemented in cohort 4, which
enables safe outpatient administration (Days -5, -4, -3) (Days -6, -5, -4, -3) and results in adequate IL-15 serum levels and maximum suppression of T regulatory cells. This enables co-administration of IL-2 to promote CYNK-001 expansion,
persistence and potency for over 21 days. Cyclophosphamide Cyclophosphamide 300 mg/m2/day 900 mg/m2/day CYNK-001 is generally well-tolerated with evidence of a dose effect and biologic activity as demonstrated with CR's in some &
Fludarabine & Fludarabine patients. 25 mg/m2/day 30 mg/m2/day th MESNA From cohort 6, we plan to add IL-2, add a 4 dose of cells on day 21 and potentially increase the dose to 3 Billion CYNK- 001 cells/infusion given the window of dosing
opportunity observed in our translational studies. Page 18
AML PATIENT OUTCOMES DATA SUMMARY - RELAPSED REFRACTORY AML
Evidence of a dose effect of CYNK-001 LD Doses: Risk Group / Cell Dose Blast Patient ID Cytoxan/ Day 28 Day 60 Day 120 Day 180 Day 300 Age (yrs) / IL2 Pre-LD Fludarabine 002-1001 Poor/adverse / 70 8400 mg / 230 mg 70 Million 82.2% > 82.2% Died
006-1002 Poor/adverse / 61 8400 mg / 230 mg 70 Million > 10% > 10% Died 002-1003 Intermediate / 67 8400 mg / 230 mg 70 Million 89% 49% Died 007-1001 Poor/adverse / 30 8400 mg / 230 mg 240 Million 52% > 52% Died 001-1002 Poor/adverse / 59
8400 mg / 230 mg 240 Million 2% 25% Died 007-1002 Poor/adverse / 65 8400 mg / 230 mg 240 Million 15% > 15% Died 001-1003 Poor/adverse / 70 8400 mg / 230 mg 700 Million 9.7% 12% Died 002-1004 Poor/adverse / 69 8400 mg / 230 mg 700 Million 6% 1%