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TRANSFORMING THE LIVES OF PATIENTS LIV ING WITH AUTOIMMUN E DISEASES AND C ANCER Making Cell Therapies
Forward-Looking Statements This presentation contains "forward-looking statements" within the
meaning of the Private Securities Litigation Reform Act of 1995, including statements regarding the safety and therapeutic potential of the Company's product candidates, the advancement of and plans and timelines related to the Company's
ongoing and planned clinical studies and the clinical investigation of its product candidates, the timing for the Company's receipt and announcement of data from its clinical trials and preclinical studies, the Company's clinical
development and regulatory strategy, the Company's progress and plans relating to, and the anticipated timing and outcome of, interactions with the FDA and other regulatory authorities, including its expectations relating to alignment with
regulatory authorities on potential registrational pathways for FT819, the Company's expectations regarding progress and timelines, and potential payments under its collaboration, and the objectives, plans and goals of its collaboration with
Ono Pharmaceutical, Ltd. These and any other forward-looking statements in this presentation are based on management's current expectations of future events and are subject to a number of risks and uncertainties that could cause actual results
to differ materially and adversely from those set forth in or implied by such forward-looking statements. These risks and uncertainties include, but are not limited to, the risk that results observed in studies of its product candidates, including
interim results and results from earlier studies, may not be predictive of final results or results observed in ongoing or future studies involving these product candidates, the risk of a delay in the initiation of, or in the enrollment or
evaluation of subjects in, any clinical studies, and the risk that the Company may cease or delay manufacture, or preclinical or clinical development, of any of its product candidates for a variety of reasons (including regulatory requirements,
difficulties in manufacturing or supplying the Company's product candidates, prioritization of other of its product candidates for advancement, and any adverse events or other negative results that may be observed during preclinical or
clinical development). These statements are also subject to other risks and uncertainties as further detailed in the Company's most recently filed periodic report, and subsequent periodic reports filed by the Company, under the Securities
Exchange Act of 1934, as amended, any of which could cause actual results to differ materially from those contained in or implied by the forward-looking statements in this presentation. The Company is providing the information in this presentation
as of the date hereof and does not undertake any obligation to update any forward-looking statements contained in this presentation unless required by applicablelaw. 2
Advancing The Frontier of
Off-the-Shelf Cell Therapy Progressing a pipeline of novel CAR T-cell therapies to treat autoimmune diseases and cancer COMMENCE
PHASE 2 POTENTIALLY DIFFERENTIATED CELL THE RAPY PIPELINE REGISTRATIONAL TR IAL IN SLE WITH LN CREATING PATI ENT & COMMERCIAL VALUE RECLAIM- LN Clonal Master Cell Bank (MCB) Paradig m FT819 ~1M patients with SLE1 Pioneering the
development of clonally derived MCBs from off-the-shelf ~ 50% develop LN2,3 induced pluripotent stem cells (iPSCs) anti-CD19 CAR T cell Each MCB can produce
>10 million CAR T-cell drug doses Estimated SLE US prevalence iPSC MCBs can also be used to manufacture other cell types RECLAIM-LN Trial found in the
body for the purposes of regenerative medicine Manufacturing Capability Highly differentiated therapeutic profile with favorable Leading the manufacture a nd global distribution of
on-tolerabilit y and broad patient accessibility demand readily available off-the-shelf CAR
T-c ell therapies Preliminary clinical efficacy supported by deep B-cell ~50,000 doses/year capacity at <$3,000 cost of goods/dose depletion with
reconstitution of the preferred na ve state Scalable manufacture process supports commercial launch Outpatient administration enabled with same-day discharge Next Generation CAR T-Cell Products & delivered in community hospital centers without the use of Transformative pipeline consisting of FT836 (9-point edited, intensive
conditioning chemotherapy pan-cancer targeting) & FT839 (13-point edited, broad RMAT designation and CDRP program inclusion support immune cell targeting)
programs across multiple indications Sword & Sh ieldTM technology supports CAR T-cell ac tivity accelerated path for drug develop ment without the need for conditioning c hemotherapy 1. Lupus
Foundation of America - lupus.org 3. Hoover, PJ. et al. Kidney International (2016) 90, 487-492 LN = lupus nephritis; MCB = master cell bank; SLE = systemic lupus erythematosus 2. Parodis, I. et al. Nat Rev Dis Primers 11, 69 (2025) 3
A Scalable Platform for Programmable Cellular Therapies Clonal source + multiplexed engineering = unlimited
standardized drug doses at low cost of goods (COGs) Best-In-Class Cell Programming & Engineering Unmatched Scalable Cell Manufacturing Capability iPSC
reprogramming technology based on Nobel prize winning biology 40,000+ ft2 cGMP facility co-located with corporate HQ (San Diego, CA) Industry leading cell engineering capability & cGMP
quality control Recognized excellence in cell therapy design & cGMP manufacture iPSCs have the unique Master cell bank is Consistent manufacture
Off-the-shelf drug Gene editing is a one- Master cell bank ability to differentiate renewable starting results in uniform and
product supports on-time event completed contains clonally into cell types found material for CAR T-cell homogenous drug demand delivery for at iPSC stage identical
population in the body manufacture product broad patient reach Induced Single product Clonal master Stored drug Treat thousands of pluripotent candidate clone cell bank (MCB) inventory patients on-demand stem
cell (iPSC) MCB vial acts as Clonal sorting iPSC exp ansion manufacturing Single step and selection and MCB creation starting material multiplex gene editing De-selected clones 4
Innovators in Delivering Value & Access to Patients Resetting the paradigm - not just the
patient Unlocking broad patient access to CAR T-cell therapy ENGINEERED FOR SAFETY & ACCESSIBILTY Precision engineered, clonally derived to manufacture uniform product candidates Built-in innovative genetic edits and tunable features Delivers consistent control w/o compromising potency Reproducible & scalable manufacturing at low COGs OUTPATIENT-ENABLED TREATMENT
PARADIGM On demand, off-the-shelf model enables accelerated and patient friendly treatment workflows Administered with less intense/no conditioning therapy
Outpatient administration of FT819 with same-day discharge simplifies care delivery and costs1 Providing off-the-shelf CAR
T-cell therapy in community hospital-based treatment settings makes transformative medicine accessible to the general patient population and reduces the burden on healthcare infrastructure 1.Performed as part
of ongoing FT819-102 Phase 1 clinical trial (NCT06308978) 5
Off-the-Shelf Cell Therapy
Product Pipeline Development of transformative medicines for complex diseases Program CAR/Antigen Target Indication Pre Clinical Phase 1/2 Registrational Partner Autoimmunity FT819-201 (RECLAIM- LN)
NCT07570862 Lupus Nephritis (LN) (RMAT) Not Yet Enrolling Systemic Lupus Erythematosus (SLE) (RMAT) FT819-102 FT819 FT819-102 CD19 Systemic Sclerosis (SSc) NCT06308978
(CDRP) Enrolling ANCA associated Vasculitis (AAV) FT819-102 Idiopathic Inflammatory Myopathies (IIM) FT819-102 FT839 CD19/CD381,2 Multicellular Autoimmune, i.e.
Rheumatoid Arthritis FT839-101 2H2026 FT522 CD191 Autoimmune Indications with mAb FT522-102 Oncology FT825-101 N CT06241456 FT825
HER21 HER2 Positive Solid Tumor (s) Enrolling Undisclosed Undisclosed Undisclosed Ongoing R&D activity FT836-101 NCT07216105 FT836 MICA/B1 Pan-tumor
Indications, including CRC Enrolling FT836-IIT NCT07221032 FT836 MICA/B1 Multiple Myeloma Not Yet Enrolling FT839 CD19/CD381,2 Hematological malignancies IND enabling studies 1. Product contains hnCD16 that
allows combination with licensed monoclonal antibodies, i.e. anti-CD20 to extend antigen targeting capability 2. Product contains CD3 fusion receptor that allows combination with licensed T cell engagers, i.e. anti-BCMA and anti-GPRC5D to extend
antigen targeting capability T Cell Asset NK Cell Asset RMAT: FDA Regenerative Medicine Advanced Therapy (RMAT) received in active moderate-to-severe SLE ; CDRP:
Chemistry, Manufacturing, and Controls Development and Readiness Pilot Worldwide rights to FT819, FT836, FT839 and FT522 6
Addressing Diseases with Significant Unmet Clinical Need Broad patient accessibility with on-demand off-the-shelf CAR T-cell therapies Autoimmune Disease Oncology Anti-neutrophil
cytoplasmic auto- Idiopathic Systemic Lupus Systemic antibody Inflammatory Hematological Erythematosus Sclerosis Solid Tumors associated Myositis Tumors (SLE) (SSc) vasculitis (IIM) (AAV) Group of disorders that Systemic inflammatory Characterized
by Inflamm ation & necrosis cause chronic disease with risk to fibrosis and vascular of blood vessels leading Efficacy for many patients is limited by inflammation and multiple organs and damage impacting to endothelial & organ
multiple tumor resistance mechanisms progressive muscle systems various organs damage weakness US & EU Patients ~1.3M ~2M Prevalence1-4 Annual mortality5 Market Size (2025) USD ~$120B6 USD
~$252B6 1. Izmirly et al. Arthritis Reum 2021 3. Bergamasco et al. Epi of Systemic Sclerosis 2019 5. SEER, Dyba 2021 2. Smoyer-Tomic et al. BMC Musc Dissorders 2012 4. Khoo et al. Nature 2023. Rare Disease Advisor, Nat'l Scleroderma Foundation
6. Market Reports World (Jul2025), BioSpace (Feb 2025) 7
PHASE 1 CLINICAL TRIAL UPDATE & PHASE 2 RECLAIM-LN FT819
Making Cell Therapy Accessible to All 8 FT819: Anti-CD19 CAR T-Cell Product Candidate Safe and effective targeting of CD19+ B cells with broad patient accessibility Lead Clinical Asset Derived from a defined
clonal MCB incorporating True Off-the-Shelf CAR T-Cell Drug Product unique functional elements to balance safety &
efficacy CD19 CAR TCR null 1XX CAR19: Novel CAR with CD28 costimulatory and State-of-the-art CAR motif Complete TCR
disruption prevents modified CD3z signaling domains for optimal safety and and expression control1 GvHD in allogeneic settings activity1 TRAC-targeted CAR: CAR inserted in the T-cell receptor alpha
constant (TRAC) locus to reproduce endo genous TCR expression for regulated an d optimal function TCR Null: Complete bi-allelic disruption of TRAC ablates TCR expression and eliminates the pos sibility
of GvHD On-Demand Delivery: R outinely manufactured at large scale f rom an engineered MCB that uniquely en sures a uniform,
off-the-shelf drug pro duct for broad patient access CD19 CAR T-cell designed to eliminate pathological auto-reactive B-cells with balanced efficacy and safety to establish immune reset and clinical remission2 1. van der Stegen, S.J.C., et al. Nat. Biomed. Eng 6, 1284-1297 (2022). 2. V. Sandhu, et al. Annals of the Rheumatic
Diseases, Volume 84, Supplement 1, 2025. 9
FT819 in Autoimmune Diseases - Phase 1 (FT819-102) Update
Uniquely administered with less-intensive fludarabine-free or no conditioning chemotherapy Conditioning chemotherapy Conditioning Treatment Cycle / DLT Assessment PTFU LTFU Day FT819 infusion Study Day: -5 -4 -3 1 2 4 8 15 22 29 Cyclophosphamide D -5: Stop all Regimen A or immuno-suppressive Safety & Activity Safety Bendamustine
medication Safety & Activity Assessments Continue Assessments Assessments No conditioning MMF/MPA (up to 2 years) (up to 15 years) Regimen B chemotherapy or AZA or MTX FT819 AZA= Azathioprine; DLT = Dose limiting toxicity; LTFU = Long-term follow-up; MMF/MPA = mycophenolate mofetil/ mycophenolic acid; MTX = Methotrexate; PTFU = Post-treatment follow-up INNOVATIVE THERAPEUTIC APPROACH1 ACCELERATING PATIENT
ENROLLMENT2 Available On-demand & Outpatient Enabled with: Total Patients Dosed with FT819 Total Activated Clinical Sites Single-dose FT819 administration Less-intensive or no
conditioning chemotherapy regimen No discontinuation of maintenance therapy (Regimen B) Patients treated as same-day discharge with on-demand product
Ability to multi-dose or re-dose Protocol authorized autoimmune diseases include: Systemic lupus erythematosus (SLE), ANCA-associated vasculitis (AAV), Idiopathic inflammatory myopathy (IIM),
Systemic sclerosis (SSc) 1. https://clinicaltrials.gov/study/NCT06308978 (ClinicalTrials.gov) 2. Patient dosing and clinical site activation data cut-off 1st June 2026 10
FT819 in Autoimmune Diseases - Phase 1 (FT819-102) Update
Baseline characteristics of patients with SLE treated with FT819 FT819-102 SLE Patient Cohort Representative of Real-World Patient Characteristics1,2 Essential Patient Features Baseline Patient Parameters
Regimen A (N=16)1,2 Age, y, mean (range) 33.8 (19, 57) Female, n (%) 14 (87.5) Sixteen SLE Regimen A patients have received a single SLE duration, y, median (range) 7.56 (1.0-33.7) dose of FT8191,2 Positive anti-ds DNA or anti-Smith, n (%) 13 (81.3) FT819 was available on-demand for all treated patients Prior therapies, n, median (range)* 7
(3-10) Follow-up, months, median (range) 6.01 (0.3-25.3) 8 patients received outpatient treatment1,2 Active lupus
nephritis, n (%) 10 (62.5) Class III V 3 (30) All patients with SLE exhibited high disease burden at Class IV V 6 (60) Class V 1 (10) baseline1,2 U PCr, mean SD 2.80 1.992 Renal 10 (62.5); Muc 10
(62.5); MSK 7 Median disease duration of 7.56 years BILAG A or B, n (%) (43.8); Cardio 5 (31.3); Heme 1 (6.3); Const 1 (6.3) Up to 10 prior treatment failures SLEDAI-2K, mean SD 13.6
4.27-PGA, mean SD 2.18 0.391 Median baseline SLEDAI 2K of 13.6 FACIT-Fatigue score, mean SD 26.4 13.79 D ata cutoff 14 May 2026. All patients had previously received glucocorticoids and
hydroxychloroquine. * Includes data entered after data cut-off. Cardio = cardiorespiratory; Const = constitutional symptoms; Heme = hematological; MSK = musculoskeletal; 1. Shiff N, et al. Annals of the
Rheumatic Diseases, Volume 85, Supplement 1, 2026 Muc = mucocutaneous; SLE = Systemic Lupus Erythematosus; SLEDAI-2K = Systemic Lupus Erythematosus Disease Activity Index 2000; 2. Data cut-off 14th May 2026 UPCr = urine protein-to-creatinine ration; PGA = Physician's Global Assessment; FACIT = Functional
Assessment of Chronic Illness Therapy. 11
FT819 in Autoimmune Diseases - Phase 1 (FT819-102) Update All
Regimen A patients with SLE tolerated FT819 without DLT, no grade >2 CRS, ICANS, GvHD or deaths reported on study Preliminary Safety Data of FT819 in Regimen A SLE; Select AESIs1-2 Safety data in line with FT819-101 in B cell malignancies (NCT04629729) Safety Parameter Incidence, n (%) (N=16)1,2 CRS (Grades 1-2) 4 (25.0) CRS (Grade 3) 0 ICANS 0 GvHD 0
Hypogammaglobulinemia 0 Dose Limiting Toxicity 0 Grade 3 Adverse Events (any) 6 (37.5) Infection (Grade 3)* 3 (18.8) Cytopenia (Grade 3) 3 (18.8) Data cutoff 14 May 2026. * Infection includes urinary tract infection
(2) and tooth abscess (1). Cytopenia includes the MedDRA preferred terms anemia, leukopenia, lymphopenia, and neutropenia, corresponding to hemoglobin decreased, white blood cell count decreased, lymphocyte count decreased, and
neutrophil count decreased, respectively. AESI = adverse event of special interest; CRS = cytokine release syndrome; GvHD = graft-versus-host-disease; ICANS = immune effector cell-associated neurotoxicity syndrome. Distinctly favorable safety and
tolerability product profile that supports outpatient administration 1. Shiff N, et al. Annals of the Rheumatic Diseases, Volume 85, Supplement 1, 2026 2. Data cut-off 14th May 2026 12
FT819 in Autoimmune Diseases - Phase 1 (FT819-102) Update FT819
with less intensive conditioning demonstrates rapid and sustained clinical improvement Disease activity measures among patients with SLE in Regimen A with at least 1 Month
follow-up1-2 UPCr cSLEDAI-2K Score PGA Score FACIT-Fatigue 4 16 3 50 3 12-52) 40 (0 Score 2 Score 30 2 2K Score
(mg/mg)-8 PGA Severe fatigue Fatigue 20 UPCr 1 cSLEDAI-1 0.5 mg/mg* 4 FACIT 10 0 0 0 0 BL1 2 3 6 9 12 15 18 21 24 BL1 2 3 6 9 12 15 18 21 24 BL1 2 3 6 9 12 15 18 21 24 BL1 2 3 6 9 12 15 18 21 24 Months Post Infusion Months Post Infusion
Months Post Infusion Months Post Infusion Benda N= 3 3 3 2 1 1 1 1 1 1 1 Benda N= 7 7 5 4 3 2 1 1 1 1 1 Benda N= 7 7 5 5 4 2 1 1 1 1 1 Benda N= 7 - 5 5 4 1 1 1 1 1 1 Cy N= 5 5 4 4 3 1 1 1 1 Cy N= 6 6 3 5 4 2 2 1 1 Cy N= 6 6 3 5 4 2 2 1 1 Cy N=
6 - 3 5 4 1 2 1 1 Data cutoff 14 May 2026. Mean SEM. Notes: FT819 administered on Day 1. Three participants treated with Cy resumed additional immunosuppressive therapy: one mycophenolate at ~7.5 months and voclosporin at ~15.5
months; one (without lupus nephritis) anifrolumab at ~2 months; and one azathioprine at ~3 months. One patient discontinued the study after the Month 1 visit due to inability to meet trial requirements. UPCr at Month 3 (bendamustine) includes data
entered after the data cutoff. * Complete renal response requires UPCr <0.5 mg/mg. UPCr = Urine Protein-to-Creatine Ratio;
cSLEDAI-2K = Clinical Systemic Lupus Erythematosus Disease Activity Index-2K; PGA = Physician Global Assessment; FACIT = Functional Assessment of Chronic illness
Therapy-Fatigue KEY TAKEAWAYS Clinical disease activity improved rapidly across multiple measurements following a single dose of FT819 with less-intensive conditioning chemotherapy and was maintained for more than 18 months post-treatment.
FT819 combined with bendamustine-conditioning exhibited the most pronounced, rapid & sustained improvement across each SLE disease activity measure. FACIT-fatigue improved from severe (< 30) to non-severe and was sustained over time, an improvement in quality-of-life measurement that is rarely observed with approved SLE
therapies. 1.Shiff N, et al. Annals of the Rheumatic Diseases, Volume 85, Supplement 1, 2026; 2. Data cut-off 14th May 2026 13