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1 OmniAb, Inc. Investor & Analyst Day Nasdaq: OABI October 6, 2026 8:00 a.m. PT Emeryville, California
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2 We caution you that this presentation contains forward-looking statements. All statements other than statements of historical facts contained in this presentation, including statements regarding our future results of operations and financial position, including our financial guidance for 2026, business strategy, our expectations regarding the application of, and the rate and degree of market acceptance of, our technology platform and other technologies, our or our partners’ expectations regarding the addressable markets for our technologies or their product candidates, as applicable, including the growth rate of the markets in which we operate, our competitive advantage and the growth prospects of our business, the scalability of our business, our ability to leverage the growth of our business and to do so efficiently, the timing of the initiation or completion of preclinical studies and clinical trials by our partners, expectations regarding potential safety and therapeutic benefits of our partners’ product candidates, whether they could be first- in-class or best-in-class, product approvals and potential for future revenue growth, launches by our partners and the timing thereof, the anticipated introduction of new technologies and innovations and enhancement of our technology stack and partners' experiences, the continued innovation around and the expected performance of our technologies and the opportunities and earnings and cash flow accretion they may create, including xPloration, OmnidAb, OmniUltra and OmniTides, the ability to add new partners and programs, the scientific presentations and clinical and regulatory events of our partners and the timing thereof, the potential for and timing of receipt of milestones and royalties under our license agreements with partners, and the potential predictability and durability of revenue streams and cash flows, and our 2026 financial guidance, are forward-looking statements. In some cases, you can identify forward-looking statements by terms such as “may,” “will,” “should,” “expect,” “plan,” “anticipate,” “could,” “intend,” “target,” “project,” “contemplates,” “believes,” “estimates,” “predicts,” “potential” or “continue” or the negative of these terms or other similar expressions. The inclusion of forward-looking statements should not be regarded as a representation by us that any of our plans will be achieved. Actual results may differ from those set forth in this presentation due to the risks and uncertainties inherent in our business, including, without limitation: our future success is dependent on acceptance of our technology platform and technologies by new and existing partners, as well as on the eventual development, approval and commercialization of products developed by our partners for which we have no control over the development plan, regulatory strategy or commercialization efforts; biopharmaceutical development is inherently uncertain, risks arising from changes in technology; the competitive environment in the life sciences and biotechnology platform market; risks associated with quality and timing in manufacturing our xPloration instruments and related consumables and our reliance on a limited number of third-party manufacturers and suppliers; our failure to maintain, protect and defend our intellectual property rights; difficulties with performance of third parties we will rely on for our business; government healthcare reform, legislative measures and regulatory developments in the United States and foreign countries; unstable market and economic conditions, may have serious adverse consequences on our business, financial condition and stock price; we may use our capital resources sooner than we expect; we many not achieve our financial guidance; and other risks described in our press releases and filings with the SEC. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date made, and except as required by applicable law, we do not plan to publicly update or revise any forward-looking statements contained herein, whether as a result of any new information, future events, changed circumstances or otherwise. All forward-looking statements are qualified in their entirety by this cautionary statement, which is made under the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Information regarding partnered products and programs comes from reports or information publicly released by our partners and have not been independently verified by OmniAb. For our definitions of “active partners,” “active programs,” “active clinical programs and approved products” and “approved products”, see “Management’s Discussion and Analysis of Financial Condition and Results of Operations” in our Annual Report on Form 10-K for the year ended December 31, 2025 filed with the SEC on March 4, 2026. This presentation also contains estimates and other statistical data made by independent parties and by us and/or our partners relating to market size and growth and other data about the antibody industry. This data involves a number of assumptions and limitations, and you are cautioned not to give undue weight to such estimates. In addition, projections, assumptions, and estimates of our future performance and the future performance of the markets in which we operate are necessarily subject to a high degree of uncertainty and risk. Non-GAAP Financial Measures: This presentation contains non-GAAP financial measures, Cash Costs and Operating Expense, Cash R&D Expense and Cash G&A Expense. We believe these financial measures provide useful information to investors with which to analyze our operating trends and performance. However, non-GAAP financial measures should not be considered a substitute for, or superior to, measures of financial performance prepared in accordance with GAAP. See more information on GAAP to non-GAAP financial measures provided in our most recent earnings press release, which is available in the Investors section of our website at investors.omniab.com. Disclaimer
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3 Welcome Matt Foehr CEO
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4 Today’s Agenda Topics Slides Opening Remarks & Business Overview - Matt Foehr 6 – 21 Licensing - Todd Pettingill 22 – 25 Transgenic Chicken Advantage - Bill Harriman 26 - 31 OmniTides Platform - Yasmina Abdiche & Brian McGuinness 32 – 41 xPloration® Platform - Amechi Nwachuku 42 – 58 Enhancing Discovery with AI - Bob Chen 59 - 63 Finance / Wrap Up - Kurt Gustafson 64 - 68 Q&A, followed by lab tours with xPloration demonstrations
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5 Todd Pettingill VP Business Development & Strategy Bill Harriman, Ph.D. SVP Discovery Partnership Management & Technology Development Matt Foehr CEO Kurt Gustafson CFO Today’s Presenters Bob Chen, Ph.D. SVP Discovery Systems Amechi Nwachuku COO Yasmina Abdiche, Ph.D. SVP Exploratory Research & Advanced Characterization Brian McGuinness Senior Director Business Development
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6 Our mission is to enable the rapid development of innovative therapeutics by pushing the frontiers of drug discovery technologies. Mission 6
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7 OmniAb’s Business WE LICENSE PROPRIETARY DISCOVERY TECHNOLOGY TO THE BIOPHARMA INDUSTRY DIFFERENTIATED TECHNOLOGY PLATFORMS CREATE LICENSING OPPORTUNITIES Proprietary Transgenic Animals Create custom in vivo libraries for both antibody and peptide discovery BI and AI Powered Discovery Partners access the Biological Intelligence (BI) built into our transgenic animals combined with OmniDeep®, our AI-powered platform, to generate therapeutic candidates BUSINESS WITH SCALE, LEVERAGABILITY AND MULTIPLE REVENUE STREAMS 110 Active Partners Majority of Top 10 pharma companies 425 Active Programs 34 clinical programs and approved products $3B+ Contracted Milestones ~$340M associated with clinical-stage programs 3.4% Average Royalty Rate Across Portfolio >98% of programs have downstream economics Novel Screening Technologies xPloration® platform and ion channel screening technologies expand our reach and drive partnerships Poised for Growth with Multiple Revenue Streams Broad potential in >$500M market
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8 OmniAb’s Pillars of Value OmniAb is well-positioned to deliver for our stakeholders, with highly differentiated technologies and multiple ways to efficiently drive value Pipeline & Partnerships Substantial contracted downstream milestones & royalties from growing portfolio of potential best-in-class/first- in-class programs Our broad and growing base of partnerships provides unique vantage point on the industry, and informs our priorities Discovery Technologies Expanding suite of innovative technologies that continue to drive partnering and program additions Chicken-based technologies driving new partnerships and creating new avenues for value creation xPloration Platform Differentiated instrument platform creates opportunity to expand our reach Adds durable and meaningful revenue streams Synergistic with, and complementary to, existing discovery technology license offerings and business revenue model
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9 The Value of Royalties on Therapeutics Predictable & Recurring Cash Flows Pharmaceutical royalties entitle the holder to a percentage of future product sales. For approved drugs with established market adoption, royalty payments can provide highly visible, recurring revenue streams over many years. Limited Operating & Expense Risks Royalty owners participate in product success without funding ongoing operations, and don’t bear the costs of: clinical trials, manufacturing, sales and marketing, regulatory reviews and compliance Broad Exposure to Healthcare Market Growth As populations age and healthcare spending increases globally, successful therapies can experience sustained growth in patient demand and revenue. Because performance is driven primarily by medical outcomes and patent protection, royalties are a financial asset that are more insulated from broader economic cycles than typical financial instruments. Portfolio Diversification Broadly applicable. Novel technologies can build a diversified mix of royalty-bearing programs. Strong Intellectual Property Protection Drug royalties are typically supported by patents, regulatory exclusivities and/or proprietary manufacturing (or other) know- how. These protections can create significant barriers to competition, allowing innovative therapies to generate premium pricing and durable cash flows over the life of a product.
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10 The Intellectual Property Advantage at OmniAb Antibody Patent Applications Filed by Partners PARTNERS FILING PATENTS ON OMNIAB-DERIVED ANTIBODIES CAN CREATE DIVERSE AND DURABLE ROYALTY STREAMS AND A LENGTHY IP TAIL Approaching 120 patent filings by our partners claiming an OmniAb-derived antibody as primary invention, with expiries up to 2046 We maintain a broad intellectual property estate with multiple long duration patent families covering key elements of our technology platform Over 350 technology patents issued worldwide 0 60 120 Licenses are structured so that royalties are linked to the patents for the molecules discovered from our technologies, thereby creating a lengthy coverage tail
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11 OmniAb Technologies INNOVATION THAT ENABLES THE DISCOVERY OF NEXT GENERATION THERAPEUTICS Create Screen Deliver Custom In Vivo Libraries for Antibody & Peptide Discovery High Throughput Identification of Hits Prioritization of Candidates Conventional Antibodies Common Light Chain for Bispecific Antibodies Single Domain Antibodies High Throughput Functional Screening of Ion Channel Targets Custom Bioinformatics NGS-Guided Hit Expansion Binding Kinetics Epitope Binning Single Cell Phenotypic Screening Peptides Suite of in silico tools for discovery that are woven throughout our various technologies and capabilities. Includes structural modeling, large multi-species antibody databases, molecular dynamics simulations, AI, machine and deep learning sequence models, and more Ultralong CDRH3 Antibodies 0.01 0.1 1 10 1 10 100 1000 Target Potency (µM) Target Selectivity BIOLOGICAL INTELLIGENCE
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12 The Role of Ion Channels in Health and Disease(1) THERAPEUTIC TARGETS WITH HIGH UNMET MEDICAL NEED (1) Content adapted from www.ionchannellibrary.com/fundamentals/why-we-should-care-about-ion-channels Heartbeat Movement Vision Touch SmellHearing I think that ion channels are the most important single class of proteins that exist in the human body, or any body for that matter. – Clay Armstrong, M.D. Albert Lasker Award Interview “ “ Ion channels play an important role in regulating a number of critical biological processes Ion channels represent one of the largest drug target classes with many new opportunities for novel therapeutics in areas like pain, epilepsies, arrhythmias and immune disorders
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13 K2P Kv Kv10-11 Cav Nav KCa Kir TRP Stable Cell Line(s) Screening Assay OmniAb's Ion Channel Platform • We believe we have developed an industry-leading platform for ion channel drug discovery • We partner with big pharma players who are interested in pursuing ion channel targets, and want access to our discovery technologies, cell lines, custom reagents and high-throughput screening capabilities specific to ion channels ‒ Hundreds of proprietary cell lines and functional assays that enable discovery for most ion channel targets • License agreements typically include larger license and service fees, including time and pass-through costs, in addition to milestones and royalties ENABLING HIGH VALUE PARTNERSHIPS
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14 Active Partners Number of Active Partners(1)(2) • 8 of the 10 largest global pharma companies are Active Partners(4) • Our discovery partnership model provides unique vantage point on industry and informs our innovation and priorities (1) See our SEC filings for Active Partners definition (2) Values shown net of attrition (3) Partner location is based on partner headquarters (4) Top-10 largest global pharma companies based on 2025 reported sales Partner Type Partner Location(3) n = 110n = 110 110
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15 Active Programs • >98% of our Active Programs have contracted future economics to OmniAb • Over $3 billion in total contracted potential milestones (2) • Average royalty rate of ~3.4% across portfolio(2) (1) See our SEC filings for Active Programs definition (2) Excludes prepaid licenses and grandfathered licenses, all Ion Channel programs, and programs from Academic Partner/Revenue Share licenses where the economics to OmniAb will be linked to the future transaction with the developmental/commercial entity. For programs with tiered royalties, the royalty rate is calculated as a blended royalty assuming $1.3B sales level. Distribution of Contracted Royalty Rates (by Program(2)) 11% 21% 58% 10% Over $3 Billion of Milestone(s) (by Type(2)) Number of Active Programs(1) 425
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16 Active Clinical Programs and Approved Products • 34 active clinical programs and approved products, with increasing diverse therapy area distribution • Active clinical programs have ~$340 million in remaining potential milestones to OmniAb (1) See our SEC filings for Active Clinical Programs and Approved Products definition (2) Values shown net of attrition Number of Active Clinical Programs and Approved Products(1)(2) 0 15 30 Therapy Area of Clinical & Commercial Programs Source Technology n = 34 34 n = 34
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17 Clinical and Commercial-Stage Partner Pipeline(1)(2) ONLY PROGRAMS WITH DOWNSTREAM ECONOMICS ARE SHOWN (1) Program placement is based on most advanced status in any geography, market, or indication (2) Figure excludes any Clinical and Commercial-Stage Active Partner programs that do not have future or remaining economics to OmniAb, e.g., Teclistamab (TECVAYLI®), Tiragolumab, Etentamig (ABBV-383), Surovatamig (AZD0486), NTB-928 (also known as TNB-298) (3) Arcus Biosciences evaluating zimberelimab in combination with multiple molecules within the Arcus portfolio (see www.arcus.com) (4) Ramantamig is also referred to as JNJ-79635322 by Johnson & Johnson Innovative Medicines, reference J&J company disclosures and clinicaltrials.gov; Precemtabart tocentecan is also referred to as M9140 by Merck KGaA; IMVT- 1402 is also referred as Imeroprubart by Hanall Biopharma (5) Program derived from OmnidAb® (single domain Chicken technology) or from OmniChicken® Phase 1 Phase 1/1b Phase 1/2 Phase 2 Phase 3 Registration Approved Gloria Biosciences, Arcus Biosciences, Gilead Zimberelimab(3) PD-1 r/r Hodgkin’s lymphoma (China) r/r Cervical cancer (China) CStone Pharmaceuticals, EwoPharma, Arrotex, Pfizer Sugemalimab PD-L1 Non-small cell lung cancer (UK, EU, China) Extranodal NK/T-cell lymphoma (China) Esophageal squamous cell carcinoma (China) Gastric or gastroesophageal junction adenocarcinoma (China) Hanall Biopharma, Harbour Biomed, CSPC Batoclimab FcRn Myasthenia gravis (China) Phase 3 trial: Thyroid eye disease (Japan) Teva TEV-’408 IL-15 Celiac disease Vitiligo Johnson & Johnson Ramantamig(4) BCMAxGPRC5DxCD3 Multiple Myeloma Gloria Biosciences Brivestobart LAG-3 Servier (Symphogen) S095018 TIM-3 Servier (Symphogen) S095024 CD73 Servier (Symphogen) S095029 NKG2A AS OF 6/30/2026 Salubris SAL003 PCSK9 Hypercholesterolemia and combined hyperlipidemia (China) Hanall Biopharma Immunovant IMVT-1402(4) FcRn Myasthenia gravis GD, D2T-RA, CIDP, Sjögren's disease Phase 1 1/1b 1/2 CessationTherapeutics CSX1004 Fentanyl Teva, Fosun TEV-’278(5) PD-1/IL-2 Johnson & Johnson JNJ-87562761 Undisclosed Seismic Therapeutics S-4321(5) PD-1:FcyRIIb Innolake ILB2101 CD40 Aptevo Therapeutics Mipletamig CD123 x CD3 Rondo Therapeutics RNDO-564 CD28 x Nectin-4 Boehringer Ingelheim BI 765179(5) CD137 x FAP Zhikang Hongyi (Biocity) BC3425 4-1BB CTTQ Pharma TQB2223 LAG-3 Johnson & Johnson JNJ-70218902 TMEFF2 x CD3 Zhikang Hongyi (Biocity) BC3195 CDH3 Genmab GEN1079 Undisclosed Merck KGaA M5542 CTLA4-OX40L Undisclosed Undisclosed(5) Undisclosed Undisclosed Undisclosed(5) Undisclosed Undisclosed Merck KGaA Precemtabart tocentecan(4) CEACAM-5 ADC Colorectal cancer Boehringer Ingelheim BI 3802876(5) Undisclosed MASH
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18 Select Late-Stage Partner Programs MULTIPLE ROYALTY-BEARING PROGRAMS, EACH DESCRIBED AS “PIPELINE-IN-A-PRODUCT” PROGRAMS, ALSO WITH FIRST-IN-CLASS OR BEST-IN-CLASS POTENTIAL Program (target) Partner(s) Stage of Development Potential First Indication(s) (est. addressable patient population) Potential Added Indications (est. addressable patient population) IMVT-1402 (imeroprubart) FcRn Precemtabart tocentecan CEACAM-5 ADC TEV-’408 IL-15 Phase 3 Phase 3 Phase 2b Graves’ Disease (300,000(1)) Myasthenia Gravis (20,000 - 35,000(1)) D2T Rheumatoid Arthritis (85,000(1)) Sjögren’s Disease (90,000(1)) CIDP (16,000 - 58,000(1)) Metastatic Colorectal Cancer (2,000,000(2)) NSCLC (400,000(4)) Pancreatic Ductal Cancer (280,000(5)) Vitiligo (4,100,000(3)) Celiac (1,600,000(3)) Eosinophilic Esophagitis (600,000(3)) Alopecia Areata (2,100,000(3)) Atopic Dermatitis (23,900,000(3)) (1) Numbers for US only reported by Immunovant in September 2026 (https://www.immunovant.com/investors/news-events/presentations) (2) Number reported by EMD Serono in May 2026 (https://www.emdserono.com/us-en/company/news/press-releases/phase-three-proceade-study-investigates-antibody-drug-conjugate-in-colorectal-cancer-05-21-2026.html) (3) Numbers reported by Teva in September 2026 (https://s24.q4cdn.com/720828402/files/content_files/Presentation-of-Phase-2a-TLR-in-Celiac-for-TEV-408-Anti-IL-15-For-Website.pdf) (4) Reference World Health Organization (https://gco.iarc.who.int/today/en/fact-sheets-cancers/15/trachea-bronchus-and-lung), Alduais et al. Medicine (2023); Hsu et al. JTO Clin Res Rep. (2025) (5) Reference World Health Organization (https://gco.iarc.who.int/today/en/fact-sheets-cancers/13/pancreas); Park et al. JAMA (2021); Wainberg et al. Ann Onc 2026
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19 Partner Commitment to our Programs MILESTONE AND ROYALTY BEARING PROGRAMS FUNDED BY OUR PARTNERS Clinical Trial Starts(1) Planned or Enrolled Patients(1) (1) Reference Clinicaltrials.gov (2) Based on cost per patient build up of $20,000 per phase 1 patient, $35,000 per phase 2 patient, $75,000 per phase 3 patie nt. Source: https://novapharmanews.com/us/articles/fda-clinical-trial-cost-analysis-phase1-3-2024 We estimate our clinical-stage partners have committed to spend more than $2.4 Billion advancing programs through the clinic that leverage our technologies(2)
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20 Select Partner Clinical Read-Out Summary(1) BASED ON CLINICALTRIALS.GOV DISCLOSURES NCT06577337 (M5542) NCT06806046 (precemtabart tocentecan) NCT05464030 (precemtabart tocentecan) NCT05909436 (Brivestobart) Undisclosed (Undisclosed) 2026 2027 NCT05652335 (ramantamig) NCT06548672 (BC3195) Undisclosed (Undisclosed) NCT06162572 (S95018) NCT07018323 (IMVT-1402, imeroprubart) NCT07266441 (ramantamig) NCT07325526 (BI 3802876) NCT06754462 (IMVT-1402, imeroprubart) NCT07455578 (S-4321) NCT06604715 (JNJ-87562761) NCT06710132 (precemtabart tocentecan) NCT07469774 (BC3195) NCT07039916 (IMVT-1402, imeroprubart) NCT07589634 (ramantamig) Color indicates most advanced phase of partner program: Phase 3; Phase 2; Phase 1. (1) Placement on graphic based on estimated primary completion date on clinicaltrials.gov A substantial number of trials are reading out over the next 15 months
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21 Short-Term next two years Mid-Term 2029 through 2034 Long-Term 2034 and beyond OUR EXPECTATIONS FOR THE BUSINESS IN THE SHORT-, MID- AND LONG-TERM Highly Leverageable Business, Built for Value-Creation • Existing portfolio positioned to drive growth and major partner news flow • Milestones from late-stage assets realized • Potential IMVT-1402 launch • xPloration foundation, building momentum • Business evolves and grows, with an increasingly diverse revenue mix and multiple assets launching • Existing portfolio has potential for multiple major new product launches • Continue leveraging vantage point in industry to inform technology and workflow expansions • Potential for launch of additional major new drugs from portfolio • xPloration install base greatly expanded, producing recurring revenue • Continued robust, efficient and increasingly diversified partnering business model Controlled expense structure continues to demonstrate the efficiencies and the power of our business platform
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22 Licensing Todd Pettingill VP , Business Development & Strategy
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23 Industry Trends Favor OmniAb's Platforms and Position Biologics Outperform Small Molecules in Clinical Success Biologics have succeeded in the clinic roughly 60% more often than small molecules, underscoring the value of OmniAb's biologic platforms(¹). Also, streamlined non-clinical requirements and expedited review programs are favorable New Targets Have the Potential to Reshape the Industry As existing targets grow more crowded(2), a broad new range of targets is being unveiled(3), and the industry is realizing how much untapped target space remains(4), which drives growing need for OmniAb’s newer novel-biology platforms Novel Scaffolds Represent a Broad Market Opportunity Peptides and single-domain antibodies together address a combined market opportunity of approximately $1 trillion across bispecifics, CAR-T, radiopharma, and peptide therapeutics(5), driving need for OmniTides and OmnidAb Rise of “Lab-in-the-Loop” Discovery AI-driven discovery increasingly relies on the kind of data that OmniAb’s platforms are built to generate, especially important for novel/new targets Biotech Funding Environment Improving Rebounding venture and IPO activity, along with a record pace of M&A, expected to help drive more activity across the industry (6) (1) BIO, Informa Pharma Intelligence, QLS Advisors, Clinical Development Success Rates 2011-2020 | (2) L.E.K. Consulting, “Is Biopharma Doing Enough to Advance Novel Targets?”, May 2025 | (3) BioCentury, “Immune- enhancing mechanisms define new oncology targets at AACR”, April 2026 (172 new oncology targets identified) | (4) Target 2035 consortium, RSC Medicinal Chemistry, 2022 (fewer than 5% of the human proteome has been successfully drugged) | (5) Combined 2034 TAM across peptide therapeutics (Zion Market Research, $333B), bispecific antibodies (Towards Healthcare, $460B), CAR-T cell therapy (Polaris Market Research, $189B), and radiopharmaceuticals (Precedence Research, $14B) | (6) BioPharma Dive / PharmaVoice, H1 2026 biotech funding coverage
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24 New Agreements Driven by our New Source Technologies MAJORITY OF NEW PARTNERSHIPS DRIVEN BY CHICKEN AND NOVEL SCAFFOLD TECHNOLOGIES 0% 10% 20% 30% 40% 50% 60% 70% Percent of New Partnerships Driven by Interest in Novel Chicken-based Source Technologies • We leverage our vantage point in the industry to drive our innovation investment and technology development decisions • A majority of new partnerships are driven by interest in our newer technologies
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25 Standard Tech Licensing Provides access to our suite of discovery source technologies. Deal terms flex partner to partner. Upfront access fee, clinical milestones, and royalties on approved products. Project-based service and FTE work with milestone and royalty heavy upside, driven by long- term expertise in ion channel drug discovery and screening. Overall deal size runs significantly larger than our other licensing pathways. Similar framework as Standard Licensing, but equity received upfront and as part of the milestones, driving additional potential upside. Granting novel technology access to early entrepreneurs with promising science. Asset-Based Deals We can opportunistically sell technology POC-derived and other program assets, capturing a large portion of the value upfront with more modest remaining back-end milestones and royalties. Ion Channel Screening Entrepreneur Enablement Program Value Creation with Technology Licenses A VARIETY OF PATHS TO CREATE VALUE LEVERAGING OUR TECHNOLOGIES
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26 Transgenic Chicken Advantage Bill Harriman, Ph.D. SVP , Discovery Partnership Management & Technology Development
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27 GREATER EVOLUTIONARY DISTANCE YIELDS ROBUST RESPONSES TO HUMAN TARGETS PRIMORDIAL TARGET GENE CHICKEN ORTHOLOG CAMELID ORTHOLOG HUMAN ORTHOLOG 300 MILLION YEARS AGO ~95 MILLION YEARS AGO MURINE ORTHOLOG Early form of gene prior to avian/mammalian evolutionary split AVIAN LINEAGE MAMMALIAN LINEAGE Ching et al. MAbs 2018 BOVINE ORTHOLOG
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28 What is Biological Intelligence BIOLOGICAL INTELLIGENCE The ability of the immune system in our engineered transgenic animals to create optimized antibodies for human therapeutics is what we call BIOLOGICAL INTELLIGENCE We believe this approach increases the efficiency of therapeutic antibody discovery and may improve the probability of success of antibody product candidates in the clinic We believe that antibodies generated in vivo are superior to ones from other sources because they are naturally optimized through an iterative process that preferentially selects for antibodies with excellent specificity and developability profiles
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29 OmniAb Transgenic Chickens ENGINEERED TO PRODUCE HIGH AFFINITY HUMAN BINDING DOMAINS WITH FIT-FOR- PURPOSE STRUCTURAL FEATURES Diversifying single scaffold heavy chain (VH3-23) Diversifying light chain Diversifying single scaffold heavy chain (VH3-23) Fixed light chain Human stabilized VHH (VH3-23 with camelid back-mutations); no light chain Human framework antibody with ultralong CDR-H3 binding domain 2017 2019 2023 2025 Classical VH x VL IgG Expanded epitope coverage High homology targets Bispecific applications leveraging standard IgG format Simplified BsAb manufacturing Novel epitope coverage from human single-domain format, 12-15kD Building blocks for multispecific molecules Unique antibody structure to unlock cryptic epitopes on difficult targets
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30 Humanization Single Domain (VHH) Platform: OmnidAb® CDR1 CDR2 CDR3 Engineered humanized VHH therapeutic candidate Wild-type Llama or Camel Extensive ex-vivo engineering required Developable human sequences can be recovered directly from immunized OmnidAb chickens, saving 6 to 12 months on development timeline Affinity-matured Camelid VHH CDR1 CDR2 CDR3 Genetic framework pre-engineered for developability In vivo affinity maturation and optimization leveraging transgenic chicken host Developability Optimization Affinity Maturation CDR1 CDR2 CDR3 Naturally optimized human VHH therapeutic candidate BIOLOGICAL INTELLIGENCE Our ApproachTraditional approach to generating a therapeutic VHH Transgene Design Features OmnidAb chickens produce stabilized human sequences and bypass the need for extensive ex-vivo engineering
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31 Technology or OmniAb Event Rapid Progression of OmnidAb Partner Program KEY MILESTONES FROM TECHNOLOGY LAUNCH TO CLINIC Partner or Preclinical Event Clinical Milestone OmnidAb candidates delivered to partner in less than 7 months to early adopting partner 2023 2024 2025 Nov 2023 OmnidAb Launch Feb 2024 Start of OmnidAb Immunization Jun 2024 Start of xPloration Screening Sep 2024 Candidate Delivery Dec 2024 Lead Selection by Partner May 2025 Initiation of IND-Enabling Studies Q4 2025 Phase 1 Start (first patient) Activities Partner Activities
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32 OmniTides Yasmina Abdiche, Ph.D. SVP , Exploratory Research & Advanced Characterization
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33 OmniTides Platform BROADENING THERAPEUTIC PEPTIDE AUDIENCE Antibody Discovery Market An integrated discovery-to-synthesis peptide workflow, supported by qualified CROs, to deliver therapeutic candidates Ultralong applications are understood by target audience and current partner set in the antibody discovery space Peptide Discovery Market Powered by the OmniUltra discovery engine, OmniTides extends to high-value adjacent markets generating optimized therapeutic peptide libraries within a brand tailored to peptide discovery audiences
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34 OmniTides vs. Other Peptide Discovery Methods OmniTides Platform • Front-loaded novel discovery optimization: Powerful natural immune mechanisms generate target-specific biologically-enriched peptide libraries, reducing the need for extensive downstream optimization • Custom libraries with high functional diversity: Natural immune diversification produces bespoke libraries with a broad range of functional peptides • Built-in stability: Peptides evolve on a universal scaffold that supports stability and is compatible with downstream chemical synthesis/manufacturing • Workflow flexibility: Amenable to single B-cell discovery, display technologies, and rational-design approaches Other Methods • Combinatorial chemistry and display selection: Screens large, predefined libraries and often requires substantial downstream optimization to improve activity and developability • Rational design: Uses structural, functional, and computational knowledge to optimize a limited set of candidates, but it may miss novel binders outside of design assumptions Naturally-optimized peptide libraries powered by the immune system and compatible with chemical synthesis BIOLOGICAL INTELLIGENCE
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35 OmniTides Workflow NATURALLY-OPTIMIZED PEPTIDE LIBRARIES AMENABLE TO CHEMICAL SYNTHESIS A novel discovery-to-synthesis workflow, powered by our OmniUltra in vivo discovery engine to generate naturally-optimized peptide libraries Chemically synthesize peptides with qualified manufacturers Immunize with target Screen peptide library using xPloration Identify binder peptide sequences
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36 OMNITIDE PEPTIDE CHEMICAL SYNTHESIS • High-affinity target binding • Strong in vitro serum stability • Favorable thermostability and resistance to heat, cold, and acidic conditions Qualified Peptide Manufacturers Multiple peptide producers positioned for our discovery partners, with expected high purity (retaining full binding affinities to their specific targets) and efficient timelines
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37 Peptide Landscape Brian McGuinness Senior Director, Business Development
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38 Peptides Are a Growing Class of Therapeutics 2026 Peptides account for 10% of FDA approvals 2020-2024 ~130 FDA-approved peptide and peptide-based therapeutics as of 2026(¹) >$300B potential market value predicted by 2035 (1) Peptide Therapeutics Market Size, Share, Growth and Trends 2034 – Zion Market Research *www.peptidejournal.org/reference/fda-approved-peptide-drug-list $117B $333B Mid 2030’s 11% CAGR
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39 GROWTH RATE → Metabolic Disorders >60% market share Oncology Multiple modalities Neurological / CNS Rapid growth Rare & Endocrine Cardiovascular & Infectious (1) Bubble size reflects relative pipeline & commercial activity (illustrative). Source: aggregated market-research estimates (Grand View Research, Fortune Business Insights, SNS Insider, and others), 2026. Top 5 Therapeutic Areas (2026) (market size and growth trajectory - illustrative outlook) Peptides Impacting a Broad Range of High Value/ High Unmet Need Therapeutic Areas MARKET SIZE → Metabolic disorders currently >60% market share Indications with broad therapeutic scope and high unmet need growing rapidly
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40 Peptides Are Highly Versatile Therapeutic Modalities Therapeutic Peptides Theranostics Therapeutic peptides make up a significant proportion of currently approved peptide drugs Growing interest in peptide-drug conjugates and targeted peptide-based delivery Significant strategic upside for platforms that solve delivery problems Targeted Payload Delivery In vitro/in vivo DiagnosticsProtein Mimic/Small Mol Design TPD IVD BROAD SCOPE OF APPLICATIONS
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41 OmniTides Platform EXPANDING PARTNER BASE Peptide OmniTides peptides are highly versatile modular targeting agents Potential to address unmet need in markets with combined predicted value ~$1T(1) Stand-alone Peptides Peptide Oligo Conjugates Peptide Radioconjugates Bispecifics or Multivalent Constructs Peptide Drug Conjugates Antibody Peptide Conjugates Peptide Targeted Delivery Vehicles (1) Sources: Zion Market Research, Towards Healthcare, Nova One, Roots Analysis
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42 xPloration® Platform Amechi Nwachuku COO
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43 Bringing xPloration to More Researchers Partner Access Program • Launched May of 2025 • Available to 100+ partners • Consistently positive feedback from Partner Access Program users including Big Pharma, global CROs, and specialty biotech • Live demos are now converting interest into placements General Availability • Starting October 2026 • Available to all customers • Access to xPloration instrument, proprietary consumables, software, and support • A growing qualified sales pipeline and market research support opening access beyond the partner program
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44 Novel Technology for B Cell Screening FOR ANTIBODY DISCOVERY TEAMS Explore boldly. Screen without limits. Goes from dissociated sample to sorted hits in 1.5 to 4 hours Customers can run more discovery campaigns each year and reach a candidate sooner
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50 xPloration Core Application in B Cell Screening TOTAL ADDRESSABLE MARKET • Core B Cell Screening is a large and attractive market growing at double digit rates • While Industry is the majority of the market, Academia is significant and will also remain a focus • Competition is a mix of specialty and generalized instruments • Potential expansion applications include: Broader antibody repertoire screening Protein repertoire screening Organism screening >$500M Annual Market for Core B Cell Screening FACS 30% Single Cell NGS 29% 84% Hybridoma 16% All Other 25% Industry Academia 72% 28% 86% 14% 16% 87% 13% Competing technologies
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51 Primary Market Research And Partner Experiences Higher Throughput(1) Easier to Use More Robust Lower Cost (1) Cyto-Mine® / Beacon® platforms, screening up to 80,000 single cells. Cyto-Mine® Chroma | Fully-automated single cell analysis platform, Optofluidic Product Suite - Bruker Cellular Analysis xPloration competes favorably with current methods xPloration Value Drivers:
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52 Insights From Recent Primary Market Research Market Assessment Study • Quantitative Market Analysis • Market Dynamics and Sizing • Competitive Landscape Assessment • Projected Plans for New Equipment RESEARCH PERFORMED BY PERCEPTA ASSOCIATES Conjoint Preference Analysis • Customer Needs Assessment • Product Configuration Modeling • Competitive Landscape Evaluation • Customer Valuation of Attributes Commissioned studies included over 200 practitioners in industry and academia
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53 Active Market for in vivo B Cell Screening Technology PROJECTED TURNOVER RATE • Almost two thirds of the market should be “in play” in the next 3 years – Over 20% project needing a new platform in the next 12 months – 55% anticipate investing in advanced in vivo screening Projected Need for New Screening Platform in Next 3 Years Percent of Responses Yes 63% No 11% Don't Know 26%
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54 xPloration Platform Competes Favorably 45% 40% 15% SUMMARY OF RESULTS FROM CONJOINT MARKET ANALYSIS Attribute Importance in Purchasing Decision Percent(1) • Cells per screen, time per screen, and automation availability to potentially compete as best-in-class • Cost per screen and cost per hit compete favorably with existing technologies • xPloration is distinctive on ease-of- use operability dimensions (1) Aggregation of importance of attributes when selecting technology, totaling 100% Economics Operability Productivity xPloration offers highly favorable combination of economics, productivity, and operability
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55 Most Customers Would Likely Purchase xPloration 0% 40% 80% Industry Academia WINNING CONCEPTS IN CONJOINT STUDY Total • Over 80% intend to purchase the winning xPloration concept across customer types • Purchase intent linked to delivering on productivity and operability at the right price point High Purchase Intent(1) Percent of Responses (1) Percent of respondents that would “probably” or “definitely” buy the winning concept
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56 xPloration is a Complete Platform MULTIPLE REVENUE STREAMS Anchors the customer relationship and install base Drives downstream recurring revenue Instruments Recurring, usage-based revenue that scales with adoption High margin Consumables Expands value as workflows and applications grow Annual license renewals create predictable ARR Software Supports uptime, retention, and repeat purchases Multi-year service contracts on install base Service Capital sale of the xPloration system Proprietary chips and kits used each run Analysis and data management subscriptions Installation, training, and preventive maintenance
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57 xPloration Positioned to Deliver Durable Revenue Streams RECURRING REVENUE TO BECOME A LONG-TERM GROWTH DRIVER Expected xPloration Revenue $2 to $3M Instruments purchases likely to be biggest contributor for next few years Time Recurring revenue expected to ramp with increasing instrument install base Illustrative Potential xPloration Revenue Mix Instruments Consumables xPloration revenue is expected to double in 2027 and to double again in 2028 in millions
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58 We Welcome You to See xPloration in Action PLEASE JOIN TOUR FOLLOWING Q&A
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59 Enhancing Discovery with AI Bob Chen, Ph.D. SVP , Discovery Systems
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60 The Combined Power of BI and AI Immunize animals with target Recover antibody sequences THE BIOLOGICAL INTELLIGENCE OF OUR TRANSGENIC ANIMALS COMBINED WITH AI TOOLS CREATE, SCREEN AND DELIVER THE RIGHT ANTIBODY Screen for target selection Therapeutic candidates BIOLOGICAL INTELLIGENCE (BI) The ability of the immune system in our engineered transgenic animals to create optimized antibodies for human therapeutics In vivo antibodies are naturally optimized through an iterative process that preferentially selects for excellent specificity and developability profiles ARTIFICIAL INTELLIGENCE (AI) We use AI models to screen and identify optimized antibodies OmniDeep processes vast amounts of data to identify winning sequences BIOLOGICAL INTELLIGENCE
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61 Structure-Based Design Tools Deep Learning Models In silico Tools to Better Mine Immune Repertoires Deep Screening + Deep Sequencing Large-scale data collection Proprietary Databases Multi-species databases OMNIDEEP® AI-POWERED PLATFORM BIOLOGICAL INTELLIGENCE
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62 Expanding xPloration Platform with New Capabilities Vision Conversation becoming lab interface Simplified way to operate instruments Build Control software for lab-in-the-loop Foundation for future autonomous labs Scientific direction Scientist input, with future lab-agent integration AI layer Interprets the instruction and directs workflow xPloration Executes screen and recovers selected cells ANNOUNCEMENT Antibody Engineering & Therapeutics Conference December 2026
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63 xPloration’s robust engineering architecture: No fluidics Eliminates clogs, leaks, bubbles Validated components Fast cycle time Robust Hardware Architecture is Essential for AI Control Supports low maintenance operations Improves cell health and biological results Right technology at the right moment, as we enter a time when the industry embraces the value of lab automation and instrumentation for big data generation and AI-aided discovery
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64 Finance / Wrap Up Kurt Gustafson CFO
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65 OmniAb’s Scalable Business Model $0 $5 $10 $15 $20 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 2023 2024 2025 2026 R&D G&A 0 50 100 150 200 250 300 350 400 0 20 40 60 80 100 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 2023 2024 2025 2026 Active Programs Active Partners Active Partners Active Programs Cash R&D and G&A Expense(1) (1) Cash R&D and G&A Expense = GAAP R&D and G&A Expense less stock-based compensation and depreciation. (2) See our SEC filings for Active Partners and Active Programs definition. Values shown net of attrition. Active Partners & Active Programs(2) Active Partners and Active Programs have been growing while Cash R&D and G&A expenses have been decreasing We focus our work on scalable and leverageable technologies
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66 The Value of Aggregating Royalties Royalties are durable revenue streams that compound significantly over time The Compounding Effect of Royalty Aggregating xPloration revenue streams are additive to this, with consumables having durable and recurring elements similar to royalties Time Milestones are (individually) one-time events, but can provide meaningful revenue over time Service revenue provides consistent revenue base
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67 Strong Financial Performance REAFFIRMING 2026 GUIDANCE Costs & Operating Expense Cash UseRevenue in millions Cash Costs & Operating Expense(1) (1) Cash Costs and Operating Expense = GAAP Costs and Operating Expense less stock-based compensation, depreciation and amortization of intangibles. Refer to OmniAb’s Q2 2026 Earnings Release for GAAP to non-GAAP reconciliation. $26.4 $18.7 $32-$36 $0 $20 $40 2024 2025 2026 Guidance 2026 Guidance $100.9 $87.6 $84-$88 $50 $100 2024 2025 2026 Guidance 2026 Guidance $60.3 $51.7 $51-$55 $0 $50 $100 2024 2025 2026 Guidance 2026 Guidance $38.9 $33.3 $1-$5 $0 $20 $40 2024 2025 2026 Guidance 2026 Guidance
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68 Upcoming Events Investor Events and Conferences Scientific Conferences and Presentations Q3 2026 Earnings October 30 Jefferies, London November 16 – 18 Stifel, New York November 11 Truist, New York November 12 Craig Hallum, New York November 17 EANM Congress, Vienna October 17 – 21 TIDES Europe, Amsterdam November 3 – 5 PEGS Summit Europe, Lisbon November 16 – 18 Antibody Engineering & Therapeutics, San Diego December 14 – 16
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69 For more information, please visit www.omniab.com