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CO PY RI GH T © A BC EL LE RA MAY 8, 2025 Q1 2025 BUSINESS UPDATE

These statements involve risks, uncertainties and other factors that may cause actual results, levels of activity, performance, or achievements to be materially different from the information expressed or implied by these forward-looking statements. These risks, uncertainties and other factors are described under "Risk Factors," "Management's Discussion and Analysis of Financial Condition and Results of Operations" and elsewhere in the documents we file with the Securities and Exchange Commission from time to time. We caution you that forward-looking statements are based on a combination of facts and factors currently known by us and our projections of the future, about which we cannot be certain. As a result, the forward-looking statements may not prove to be accurate. The forward-looking statements in this presentation represent our views as of the date hereof. We undertake no obligation to update any forward-looking statements for any reason, except as required by law. DISCLAIMER This presentation contains forward-looking statements, including statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. The forward-looking statements are based on management’s beliefs and assumptions and on information currently available to management. All statements contained in this presentation other than statements of historical fact are forward-looking statements, including statements regarding our ability to develop, commercialize and achieve market acceptance of our current and planned products and services, our research and development efforts, and other matters regarding our business strategies, use of capital, results of operations and financial position, and plans and objectives for future operations. In some cases, you can identify forward-looking statements by the words “may,” “will,” “could,” “would,” “should,” “expect,” “intend,” “plan,” “anticipate,” “believe,” “estimate,” “predict,” “project,” “potential,” “continue,” “ongoing” or the negative of these terms or other comparable terminology, although not all forward-looking statements contain these words. 2 CO PY RI GH T © A BC EL LE RA Q1 2 02 5 Bu si ne ss U pd at e

3 CO PY RI GH T © A BC EL LE RA Q1 2 02 5 Bu si ne ss U pd at e Enter the clinic and initiate activities at clinical manufacturing facility. ABCL635 Phase 1 clinical trials initiated in 2025 ABCL575 Phase 1 clinical trials initiated in 2025 Complete platform investments by the first half of the year Initiate activities at the new clinical manufacturing facility Nominate additional development candidate(s) for CTA-enabling studies in available liquidity to execute on our strategy ~$810M 2025 PRIORITIES

4 CO PY RI GH T © A BC EL LE RA CO NF ID EN TI AL Q1 2 02 5 Bu si ne ss U pd at e Neurokinin 3 receptor (NK3R) ABCL635 is a potential first-in-class antibody for the non-hormonal treatment of vasomotor symptoms (hot flashes). Target G protein-coupled receptor (GPCR) Target Type Moderate-to-severe vasomotor symptoms (VMS) associated with menopause Indication Endocrinology / women’s health Therapeutic Area INTERNAL PIPELINE & PROGRAMS

5 CO PY RI GH T © A BC EL LE RA Q1 2 02 5 Bu si ne ss U pd at e ● Potential first-in-class antibody therapy ● Anticipate differentiated safety profile ● Expected monthly (Q4W) subcutaneous dosing schedule, preferred by women with VMS Science DifferentiationCommercial Opportunity Development Path ● NK3R is a GPCR involved in endocrine homeostasis and thermoregulation ● Pathway is clinically validated with small molecules ● Primary scientific risk is in achieving sufficient target engagement ● Approximately 40 million women are of menopausal age in the US1 and ~30% experience moderate-to- severe VMS2 ● Novel non-hormonal treatments for VMS are estimated to become a $2B+ market opportunity ● Well-established clinical development path ● Biomarkers enable assessment of target engagement in Phase 1 ● Safety and early efficacy data readouts in 2026 1. US Census Bureau. Women age 45-64. 2. Nappi RE, et. al. Menopause. 2021 May 24;28(8):875-882. doi: 10.1097/GME.0000000000001793. Initiation of Phase I clinical study anticipated in Q3 2025 INTERNAL PIPELINE & PROGRAMS ABCL635 NK3R Antagonist

6 CO PY RI GH T © A BC EL LE RA CO NF ID EN TI AL Q1 2 02 5 Bu si ne ss U pd at e VMS are highly prevalent, significantly impact health and well-being, and are the most common reason for seeking treatment for menopause. 1. Avis NE, et al. JAMA Intern Med. 2015 Apr;175(4):531-9. doi: 10.1001/jamainternmed.2014.8063.. 2. Thurston RC, et al. Obstet Gynecol Clin North Am. 2011 Sep;38(3):489-501. doi: 10.1016/j.ogc.2011.05.006. 3. Faubion SS, et al. Mayo Clin Proc. 2023 Jun;98(6):833-845. doi: 10.1016/j.mayocp.2023.02.025. 4. O'Neill MT, et al. Occup Med (Lond). 2023 Sep 29;73(6):332-338. doi: 10.1093/occmed/kqad078. Millions of women seek treatment VMS are a significant burden Commercial Opportunity ABCL635 VMS are the most common symptoms of menopause, persisting for a median of 7.4 years.1 They have a significant impact on quality of life, are associated with cardiovascular disease risk,2 and result in lost productivity, career advancement, and income.3,4,5 Approximately 40 million women are of menopausal age in the US.6 ~30% of women experience moderate-to-severe VMS,7 and it is estimated that more than half seek treatment for menopausal symptoms.8 5. Ko J, et al. Menopause Foundation of Canada; October 16, 2023. Accessed April 24, 2025. https://menopausefoundationcanada.ca/menopause-and-work-in-canada-report/ 6. US Census Bureau. Women age 45-64. 7. Nappi RE, et. al. Menopause. 2021 May 24;28(8):875-882. doi: 10.1097/GME.0000000000001793. 8. Todorova L, et al. Menopause. 2023 Dec 1;30(12):1179-1189. doi: 10.1097/GME.0000000000002265.

7 CO PY RI GH T © A BC EL LE RA CO NF ID EN TI AL In a global study, 57% of women were eligible for MHT, but against using it.1 Q1 2 02 5 Bu si ne ss U pd at e 1. Stute P, et al. Maturitas. 2022 Oct;164:38-45. doi: 10.1016/j.maturitas.2022.06.008. 2. “The 2023 Nonhormone Therapy Position Statement of The North American Menopause Society” Advisory Panel. 2023 Jun 1;30(6):573-590. doi: 10.1097/GME.0000000000002200. ✝ AbCellera estimate. Despite effective treatments, there remains a large unmet need for many women suffering from VMS. ~12% of women are contraindicated.1 Presently there are contraindications to MHT for estrogen-dependent cancers and cardiovascular disease.2 Menopause Hormone Therapy (MHT) is an effective treatment for VMS, and the current standard of care. However, there are many women who are contraindicated, have complications, or who choose not to take MHT. ABCL635 ~8% of women discontinue MHT within 12 months.1✝ Commercial Opportunity

8 CO PY RI GH T © A BC EL LE RA CO NF ID EN TI AL Q1 2 02 5 Bu si ne ss U pd at e NK3R antagonists are effective non-hormonal options for VMS. ABCL635 Science Pre-Menopause

9 CO PY RI GH T © A BC EL LE RA CO NF ID EN TI AL Q1 2 02 5 Bu si ne ss U pd at e NK3R antagonists are effective, non-hormonal options for VMS. ABCL635 Menopause Science

10 CO PY RI GH T © A BC EL LE RA CO NF ID EN TI AL Q1 2 02 5 Bu si ne ss U pd at e NK3R antagonists are effective, non-hormonal options for VMS. ABCL635 Treatment Science Proposed mechanism of action for ABCL635 based on AbCellera nonclinical data and published literature.

11 CO PY RI GH T © A BC EL LE RA CO NF ID EN TI AL Approved and soon-to-be-approved NK3R therapies will establish the market. ABCL635 Small molecule NK3R antagonist Approved by US FDA on May 12, 2023 Stage Daily oral treatment Dosing Safe and effective in reducing severity and frequency of VMS Fezolinetant (Veozah®) by Astellas Small molecule NK3R and NK1R antagonist NDA accepted by US FDA October 9, 2024 Stage Daily oral treatment Dosing Safe and effective in reducing severity and frequency of VMS Elinzanetant by Bayer Q1 2 02 5 Bu si ne ss U pd at e Differentiation

12 CO PY RI GH T © A BC EL LE RA CO NF ID EN TI AL Q1 2 02 5 Bu si ne ss U pd at e ABCL635 is designed to offer an improved treatment option for women with moderate-to-severe VMS due to menopause. 1. LiverTox: Clinical and Research Information on Drug-Induced Liver Injury [Internet]. Bethesda (MD): National Institute of Diabetes and Digestive and Kidney Diseases; 2012-. Monoclonal Antibodies. [Updated 2024 Dec 10]. Available from: https://www.ncbi.nlm.nih.gov/books/NBK548844/. 2. Pinkerton JV, et al. JAMA. 2024 Aug 22;332(16):1343–54. doi: 10.1001/jama.2024.14618. 3. Lederman S,et al. Lancet. 2023 Apr 1;401(10382):1091-1102. doi: 10.1016/S0140-6736(23)00085-5. Potential for reduced toxicities & side-effects An antibody-based therapeutic may provide several benefits over current non-hormonal treatments: ABCL635 Differentiation 4. Johnson KA, et al. J Clin Endocrinol Metab. 2023 Jul 14;108(8):1981-1997. doi: 10.1210/clinem/dgad058. 5. Panay N., et al. Poster presentation at the North American Menopause Society (NAMS) Annual Meeting, [September 10 – 14, 2024]. Poster number P-121. 6. AbCellera. Sponsored primary market research, 2024. Survey question: If you were presented with two products that were equally efficacious and safe, with similar side effect profiles, which of the following would you prefer to take? Antibodies are generally not associated with drug-related liver toxicity.1 ABCL635 does not antagonize NK1R, and is therefore not expected to induce fatigue or somnolence.2, 3, 4, 5 Dosing flexibility Over 50% of women with VMS would prefer an injectable every 4 weeks over a daily oral treatment.6 Increasing use of GLP-1 agonists is significantly increasing the autoinjector-experienced population.

13 CO PY RI GH T © A BC EL LE RA CO NF ID EN TI AL Q1 2 02 5 Bu si ne ss U pd at e If successful, ABCL635 would be a differentiated product in a large and established market. ABCL635 Development Path CTA Submission 2025 Q2 Phase I Initiation 2025 Q3 Anticipated Phase I Readout safety & early efficacy 2026 H1 Anticipated

14 CO PY RI GH T © A BC EL LE RA MOLECULE TARGET THERAPEUTIC AREA STAGE ABCL635 NK3R Endocrinology & Women’s Health ABCL575 OX40L Immunology & Inflammation Q1 2 02 5 Bu si ne ss U pd at e Initiation of Phase I clinical trials for ABCL635 & ABCL575 anticipated in Q3 2025. * Clinical Trial Applications (CTAs) = Canadian equivalent to an Investigational New Drug (IND) submission CTA Submission 2025 Q2 Phase I Initiation 2025 Q3 Anticipated Phase I Readout 2026 Anticipated CTA Submission 2025 Q2 Phase I Initiation 2025 Q3 Anticipated Phase I Readout 2026 Anticipated May 9: Presentation of ABCL575 preclinical data at the Society for Investigative Dermatology annual meeting INTERNAL PIPELINE & PROGRAMS 20+ discovery programs in the pipeline

15 CO PY RI GH T © A BC EL LE RA Q1 2 02 5 Bu si ne ss U pd at e Transition to a clinical-stage biotech nearly complete. As we shift from building our platform to using it, we are leveraging capabilities in challenging targets, including GPCRs, ion channels, and T-cell engagers to advance our pipeline. 20+ internal programs in discovery: approximately half target complex membrane proteins. Additional development candidate targeting complex membrane protein expected Complete platform investments On track to initiate manufacturing activities in 2025 and completing final investments.

17 CO PY RI GH T © A BC EL LE RA Q1 2 02 5 Bu si ne ss U pd at e We have the capabilities and the capital to execute on our strategy. in total available government funding*~$180M in total cash, cash equivalents, & marketable securities*~$630M in available liquidity to execute on our strategy*~$810M * As of March 31, 2025

18 CO PY RI GH T © A BC EL LE RA Q1 2 02 5 Bu si ne ss U pd at e PARTNER-INITIATED PROGRAM STARTS WITH DOWNSTREAMS Cumulative # of MOLECULES IN THE CLINIC Cumulative # of Note: Showing year-end figures except most-recent quarter. Historical results are not necessarily indicative of future results. Notable Updates on Molecule This Quarter’s Update NBL-012 NBL-015/FL-301 NBL-020 NBL-028 Paused Continuing portfolio growth. MOLECULES IN THE CLINIC

19 CO PY RI GH T © A BC EL LE RA Q1 2 02 5 Bu si ne ss U pd at e Operating expenses reflect R&D investments. Operating Expenses USDRevenue USD Q1 2025Q1 2024 $39.3M $42.5M +$3.2M Q1 2025Q1 2024 $3.4M $2.8M -$0.5M Q1 2025Q1 2024 $17.4M $16.2M -$1.1M RESEARCH & DEVELOPMENT SALES & MARKETING GENERAL & ADMINLICENSING RESEARCH FEES MILESTONES Q1 2025 $0.2M $4.1M $10.0M $4.2M Q1 2024 $9.8M Research fees Licensin g Royalties Milestones

20 CO PY RI GH T © A BC EL LE RA Q1 2 02 5 Bu si ne ss U pd at e Net loss of $46M; equivalent to ($0.15) per share (basic & diluted). Earnings USD NET EARNINGS EARNINGS PER SHARE: BASIC AND DILUTED Q1 2024 Q1 2025 Q1 2024 Q1 2025

21 CO PY RI GH T © A BC EL LE RA Q1 2 02 5 Bu si ne ss U pd at e Approximately $633M in total cash, equivalents, and marketable securities. Cash Flows USD * Restricted cash (including restricted cash in other assets) FINANCING FX $446M Marketable Securities $159M Cash & Equivalents $27M* Mar 31, 2025 ($17M) Other $25M Marketable Securities (net) OPERATINGDec 31, 2024 $27M* $653M ($12M) $8M $6M $1M $633M $156M Cash & Equivalents INVESTING $469M Marketable Securities