NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, IN, INTO OR FROM ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OF SUCH JURISDICTION. THIS IS AN ANNOUNCEMENT FALLING

NOT FOR RELEASE, PUBLICATION

OR DISTRIBUTION, IN WHOLE OR IN PART, IN, INTO OR FROM ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS

OF SUCH JURISDICTION.

THIS IS AN ANNOUNCEMENT FALLING UNDER RULE 2.8 OF THE CITY

CODE ON TAKEOVERS AND MERGERS (THE "CODE")

THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION

Nektar Therapeutics ("Nektar")

Rule 2.8 Announcement

Further to the announcement made

by PureTech Health plc ("PureTech") on 7 October 2022, Nektar announces that it has mutually agreed with PureTech to

terminate discussions regarding a potential business combination.

Important Code notes

This is a statement to which Rule 2.8

of the Code applies.

As is customary under Rule 2.8 of

the Code, Nektar reserves the right to make or participate in an offer for PureTech (and/or take any other actions which would otherwise

be restricted under Rule 2.8 of the Takeover Code) within the next six months following the date of this announcement:

For the purposes of UK MAR, the person responsible for

arranging release of this announcement on behalf of Nektar is Jennifer Ruddock.