NantKwest : "38th Annual J.P. Morgan Healthcare Conference" - January 14, 2020

The Leading Late Stage Immunotherapy Companies

Harnessing Immunogenic Cell Death

JP Morgan Healthcare Conference

January 14, 2020

1

GENERAL DISCLAIMER

Not all product candidates and/or services referenced in these slides are proprietary to NantKwest or ImmunityBio and may be owned or controlled by third parties, including their affiliates.

FORWARD-LOOKING STATEMENTS

These slides and the accompanying oral presentation contain forward-looking statements within the meaning of the Securities Act of 1933, as amended, or the Securities Exchange Act of 1934, as amended, that are based on

management's beliefs and assumptions and on information currently available to our management. Forward-looking statements include, but are not limited to:

• our ability to pioneer immunotherapy, harness the power of the innate immune system, implement precision cancer medicine and change the current paradigm of cancer care;
• our expectations regarding the potential benefits of our strategy and technology;
• our ability to utilize multiple modes to induce cell death;
• our beliefs regarding the benefits and perceived limitations of competing approaches, and the future of competing technologies and our industry;
• our beliefs regarding the success, cost and timing of our product candidate development activities and clinical trials;
• the timing or likelihood of regulatory filings or other actions and related regulatory authority responses, including any planned investigational new drug (IND) filings or pursuit of accelerated regulatory approval pathways or orphan drug status and breakthrough therapy designations;
• our ability to implement an integrated discovery ecosystem and the operation of that planned ecosystem;
• our expectations regarding our ability to utilize the Phase I aNK clinical trial data to support the development our other product candidates;
• our ability to produce an"off-the-shelf" therapy;
• our beliefs regarding the potential manufacturing and distribution benefits associated with our product candidates, and our ability to scale up the production of our product candidates;
• our ability to obtain and maintain intellectual property protection for our product candidate and not infringe upon the intellectual property of others;
• the ability and willingness of strategic collaborators, including certain of our affiliates, to share our vision and effectively work with us to achieve our goals;
• the ability and willingness of various third parties to engage in research and development activities involving our product candidates, and our ability to leverage those activities; and
• regulatory developments in the United States and foreign countries.

Factors that could cause our results to differ materially from those expressed in forward-looking statements include, without limitation:

• the fact that our business is based upon the success of aNK cells as a technology platform and the success ofN-803 and the other product candidates;
• our aNK platform and other product candidate families, including genetically modified taNK, haNK andt-haNK product candidates, will require significant additional clinical testing;
• even if we successfully develop and commercialize our aNK product candidates orN-803, we may not be successful in developing and commercializing our other product candidates either alone or in combination with other therapeutic agents;
• we may not be able to file INDs, to commence additional clinical trials on timelines we expect;
• we will need to obtain substantial additional financing to complete the development and any commercialization of our product candidates; and
• risks associated with our ability to enforce intellectual property rights.

Forward-looking statements include statements that are not historical facts and can be identified by terms such as "anticipates," "believes," "could," "seeks," "estimates," "expects," "intends," "may," "plans," "potential," "predicts," "projects," "should," "will," "would," or similar expressions and the negatives of those terms.

Forward-looking statements involve known and unknown risks, uncertainties, and other factors that may cause our actual results, performance, or achievements to be materially different from any future results, performance, or achievements expressed or implied by the forward-looking statements. These and other risks regarding our business are described in detail in NantKwest's Securities and Exchange Commission filings. We encourage you to review NantKwest's SEC filings in order to understand these risks. These forward-looking statements speak only as of the date thereof, and we disclaim any obligation to update these statements except as may be required by law. Given these uncertainties, you should not place undue reliance on these forward-looking statements. Also, forward-looking statements represent our management's beliefs and assumptions only as of the date of this presentation.

Except as required by law, we assume no obligation to update these forward-looking statements, or to update the reasons actual results could differ materially from those anticipated in these forward-looking statements, even if new information becomes available in the future. No representation or warranty, express or implied, is given as to the completeness or accuracy of the information or opinions contained in this document and we do not accept any liability for any direct, indirect or consequential loss or damage arising from reliance on such information or opinions. Past performance should not be taken as an indication or guarantee of future performance. You should read this presentation completely and with the understanding that our actual future results may be materially different from what we expect.

ImmunityBio, Inc. & NantKwest Inc. - JP Morgan Healthcare Conference 2020

2

The Cross Talk of the Immune System in Cancer

Inducing Immunogenic Cell Death

Cancer

Cell

TregTumorMDSCs

Microenvironment

M2 Macrophages

Off-the-Shelf NK Cell

Natural Killer		Cross Talk
(NK) Cell
	NKG2D

E2b Deleted Adenovirus

Dendritic Cell

IL-15 Fusion Protein

Cross Talk		Memory Killer
	T Cell
	TCR

NASDAQ: NK

NK Cell - Born to Kill:

Nature's Killer Cell

Innate Immune System

Dendritic Cell - The Trainer:	T Cell - Trained to Kill:
Nature's Trainer Cell	Nature's Targeted Killer
The Cross Talk Between	Adaptive Immune System
ImmunityBio, Inc.Innate & Adaptive Immune SystemConference 2020	3

ASCO 2019: Seminal Discovery by NANT of Neoepitope Silencing

ImmunityBio, Inc. & NantKwest Inc. - JP Morgan Healthcare Conference 2020

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ASCO 2019: Seminal Discovery by NANT of Neoepitope Silencing

ImmunityBio, Inc. & NantKwest Inc. - JP Morgan Healthcare Conference 2020

5

The NANT Discovery of the Tumors Ability to Evade & Silence the Immune System

Tumor's Defense

Hide

Suppress

Disable

Metastasize

Cancer

ASCO 2019

Treg

MDSCs

M2 Macrophages

ImmunityBio, Inc. & NantKwest Inc. - JP Morgan Healthcare Conference 2020

6

Next Generation Immunotherapy

The NANT Cancer Vaccine

The Path to Complete Remission:

Unleashing the Triangle Offense of Killer Cells

Cancer

TregTumorMDSCs

Microenvironment

Triangle Offense

Immunomodulate the Tumor Itself as a Vaccine (DAMPs) and Transform the Microenvironment to Overcome Suppression (Metronomic Therapy)

Expose				M2
Unleash		Triangle Offense: Simultaneous Activation of NK, Dendritic and T Cells
Kill
			Temporal Spatial Orchestration
Complete						of NK & T Cells Towards
Remission			Crosstalk		Immunogenic Cell Death
		Natural Killer
			Dendritic Cell
					Memory Killer
		(NK) Cell
			The Trainer:		T Cell
		Born to Kill:
				Trained to Kill:
			Nature's Trainer Cell
		Nature's Killer Cell		Nature's Targeted Killer
			The Cross Talk Between
		Innate Immune System		Adaptive Immune System
		Innate & Adaptive Immune System

ImmunityBio, Inc. & NantKwest Inc. - JP Morgan Healthcare Conference 2020

7

1990 - 2017:Identified and Developed Key

First-in-Class Agents Driving Immunogenic Cell Death

1990	1992	2015	2015	2017	2017
Abraxane (Nab-Paclitaxel)	NK-92:Off-The-Shelf NK	E2b Deleted Adenovirus	N-803IL-15 Fusion Protein	Aldoxorubicin	Nanatinostat
Transcytosis to the	Activated NK Cell Line Without	Genomically Informed	Activation of NK &	Transcytosis to the	Epigenetic Activation
Tumor Microenvironment	Inhibitory Receptors	Dendritic Cell	Memory T Cells	Tumor Microenvironment	of MHC1
Activation of M2 Macrophages				DAMP Activator

ImmunityBio, Inc. & NantKwest Inc. - JP Morgan Healthcare Conference 2020

8

1990 - 2017:Key First-in-Class Immunogenic Cell Death Agents

2016:Announce Cancer Breakthroughs 2020

2017:Obtain FDA Authorization to Test Novel-Novel Immunological Combinations - QUILT

The NANT Cancer Vaccine: The Triangle Offense

2017 - 2019: Demonstrate Early Signals of Durable Complete Remission

2020 - 2023: Forecast for FDA Approvals in Multiple Tumor Types

ImmunityBio, Inc. & NantKwest Inc. - JP Morgan Healthcare Conference 2020

9

Cancer Breakthroughs 2020:

Phase I / II Trials to Test the Hypothesis of the "Triangle Offense"

in Multiple Tumor Types (2014 - 2019)

Eleven (11) I/O Agents

3 I/O Agents

Two (2) I/O Agents

haNK

PD-L1t-haNK

N-803

N-803

N-803

N-803

N-803

N-803

N-803

N-803

BCG

Rituxumab

aNK

BCG

Pembro/Nivo

Pembro

Avelumab

Aldoxorubicin

1

st

Line

2nd& 3rdLine

nd

rd

nd

3rdLine

st

nd

rd

2ndLine

2

& 3 Line

2 Line

Checkpoint

1 Line

2

& 3 Line

Metastatic

NMIBC

iNHL

Merkel Cell

NMIBC

Relapse

Metastatic

Merkel Cell

Pancreatic

Bladder

Carcinoma

Bladder

NSCLC

Carcinoma

NSCLC

Cancer

QUILT-2.005

QUILT-3.002

QUILT-3.009

QUILT-3.032

QUILT-3.055

QUILT-2.023

QUILT-3.063

spIND

Fast Track

Phase 1 / 2

Phase 2

Breakthrough

Pivotal

Pivotal

Pivotal

spIND

Phase 2*

Phase 2*

Phase 2*

Phase 2*

Phase 2*

NCT02138734

NCT02384954

NCT02465957

NCT03022825

NCT03228667

NCT03520686

NCT03853317

spIND

InitiationDateMay 2014

Mar 2015

Jun 2015

Jan 2017

Jul 2017

May 2018

Feb 2019

Sep 2019

Five (5) I/O Agents

Ad-CEA	Ad-CEA
Ye-Ras	Ye-Ras
aNK	haNK
N-803	N-803
Avelumab	Avelumab
2nd& 3rdLine	2nd& 3rdLine
Metastatic	Metastatic
Pancreatic	Pancreatic
Cancer	Cancer
QUILT-3.039	QUILT-3.060
Phase Ib / II	Phase Ib / II
NCT03136406	NCT03329248
May 2017	Nov 2017

Six (6)

I/O Agents

Aldoxorubicin

Ad-CEA

Ye-Ras

aNK

N-803

Avelumab

2nd& 3rdLine

Metastatic

Pancreatic

Cancer

QUILT-3.070

Phase Ib / II

NCT03387098

Dec 2017

Ten (10)

I/O Agents

Ad-MUC1

Ad-Brachy

Ye-Brachy

Ye-CEA

Aldoxorubicin

Ad-CEA

Ye-Ras

haNK

N-803

Avelumab

3rdLine

Metastatic

TNBC

QUILT-3.067

Phase Ib / II

NCT03387085

Dec 2017

Ad-HER2	Ad-HER2	Ad-HER2
Ad-MUC1	Ad-MUC1	Ad-MUC1
Ad-Brachy	Ad-Brachy	Ad-Brachy
Ye-Brachy	Ye-Brachy	Ye-Brachy
Ye-CEA	Ye-CEA	Ye-CEA
Aldoxorubicin	Aldoxorubicin	Aldoxorubicin
Ad-CEA	Ad-CEA	Ad-CEA
Ye-Ras	Ye-Ras	Ye-Ras
haNK	haNK	haNK
N-803	N-803	N-803
Avelumab	Avelumab	Avelumab
3rd Line	3rdLine	2nd& 3rdLine
Metastatic	Metastatic
Metastatic
Randomized	Pancreatic
Head & Neck
Colorectal	Cancer
QUILT-3.090	QUILT-3.071	QUILT-3.080
Phase Ib / II	Phase Ib / II	Phase Ib / II
NCT03387111	NCT03563157	NCT03586869
Dec 2017	Jun 2018	Jul 2018

1/14/2020

ImmunityBio, Inc. & NantKwest Inc. - JP Morgan Healthcare Conference 2020

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Cancer Breakthroughs 2020:

Evidence of Early Signals of Durable Complete Remission in Multiple Tumor Types

59 out of 105 (56%) Complete Responses in 7 Tumor Types

69 out of 161 (41%) Overall Response Rate in 8 Tumor Types

Ten (10)

I/O Agents

Ad-MUC1

Ad-Brachy

Ye-Brachy

Six (6)

Ye-CEA

I/O Agents

Five (5) I/O Agents

Aldoxorubicin

Aldoxorubicin

Ad-CEA

Ad-CEA

Ad-CEA

Ad-CEA

Ye-Ras

Ye-Ras

Ye-Ras

Ye-Ras

3 I/O Agents

Two (2) I/O Agents

aNK

haNK

aNK

haNK

PD-L1t-haNK

haNK

N-803

N-803

N-803

N-803

N-803

N-803

N-803

N-803

N-803

N-803

N-803

N-803

BCG

Rituxumab

aNK

BCG

Pembro/Nivo

Pembro

Avelumab

Aldoxorubicin

Avelumab

Avelumab

Avelumab

Avelumab

st

nd

rd

nd

3rdLine

st

nd

rd

2ndLine

2nd& 3rdLine

2nd& 3rdLine

2nd& 3rdLine

1

Line

2nd& 3rdLine

rd

2

& 3 Line

2 Line

Checkpoint

1 Line

2

& 3 Line

Metastatic

Metastatic

Metastatic

Metastatic

3 Line

NMIBC

iNHL

Merkel Cell

NMIBC

Relapse

Metastatic

Merkel Cell

Pancreatic

Pancreatic

Pancreatic

Pancreatic

Metastatic

Bladder

Carcinoma

Bladder

NSCLC

Carcinoma

TNBC

NSCLC

Cancer

Cancer

Cancer

Cancer

QUILT-2.005

QUILT-3.002

QUILT-3.009QUILT-3.032QUILT-3.055QUILT-2.023

QUILT-3.063

spIND

QUILT-3.039

QUILT-3.060

QUILT-3.070

QUILT-3.067

Pivotal

Fast Track

Phase 1 / 2

Phase 2

Breakthrough

Pivotal

Pivotal

spIND

Phase Ib / II

Phase Ib / II

Phase Ib / II

Phase Ib / II

Phase 2*

Phase 2*

Phase 2*

Phase 2*

Phase 2*

NCT02138734

NCT02384954

NCT02465957

NCT03022825

NCT03228667

NCT03520686

NCT03853317

spIND

NCT03136406

NCT03329248

NCT03387098

NCT03387085

Complete

Complete

Complete

Complete

Durable

Durable

Complete

Complete

Initiation

Response

Response

Response

Response

Response

Response

Feb 2019

Response

May 2017

Nov 2017

Dec 2017

Dec 2017

Date

May 2014

Mar 2015

Jun 2015

Jan 2017

Jul 2017

May 2018

Sep 2019

Response

Eleven (11) I/O Agents

Ad-HER2		Ad-HER2	Ad-HER2
Ad-MUC1		Ad-MUC1	Ad-MUC1
Ad-Brachy		Ad-Brachy	Ad-Brachy
Ye-Brachy		Ye-Brachy	Ye-Brachy
Ye-CEA		Ye-CEA	Ye-CEA
Aldoxorubicin		Aldoxorubicin	Aldoxorubicin
Ad-CEA		Ad-CEA	Ad-CEA
Ye-Ras		Ye-Ras	Ye-Ras
haNK		haNK	haNK
N-803		N-803	N-803
Avelumab		Avelumab	Avelumab
3rd Line		3rdLine	2nd& 3rdLine
	Metastatic	Metastatic
Metastatic
	Randomized	Pancreatic
Head & Neck
	Colorectal	Cancer
QUILT-3.090		QUILT-3.071	QUILT-3.080
Phase Ib / II		Phase Ib / II	Phase Ib / II
NCT03387111		NCT03563157	NCT03586869
			Durable
Complete	Jun 2018
DecResponse2017	Jul 2018
			Response

ImmunityBio, Inc. & NantKwest Inc. - JP Morgan Healthcare Conference 2020

11

Cancer Breakthroughs 2020:

Evidence of Early Signals of Durable Complete Remission in Multiple Tumor Types

NK & T Cell Activator

N-803

Complete & Durable Responses in

Advanced Metastatic Disease Across Multiple Tumor Types

59 out of 105 (56%) Complete Responses in 7 Tumor Types

Off-the-Shelf

Natural Killer Cell Line

haNK

PD-L1t-haNK

ImmunityBio, Inc. & NantKwest Inc. - JP Morgan Healthcare Conference 2020

12

Cancer Breakthroughs 2020:

Evidence of Early Signals of Durable Complete Remission in Multiple Tumor Types

	Complete & Durable Responses in
	Advanced Metastatic Disease Across Multiple Tumor Types
	Indication	Responses	Duration of Response Chemotherapy Free
NK & T Cell Activator
BCG Naïve Bladder Cancer (Phase I)	9 / 9 CR	> 24 Months
N-803

Off-the-Shelf

Natural Killer Cell Line

haNK

PD-L1t-haNK

ImmunityBio, Inc. & NantKwest Inc. - JP Morgan Healthcare Conference 2020

13

Bladder Cancer - Complete Response in 9 of 9 Patients

Phase I	Phase I (N=9)
NCT02138734	A Study of Intravesical BCG in Combination With N-803 in
QUILT 2.005	Patients With Non-Muscle Invasive Bladder Cancer

N-803 + BCG in High-Risk NMIBC - Phase IResults

Durable Complete Responses (CR) or No Recurrence (NR) in 9 out of 9 Patients

Dose	Patient	Stage			Response Assessments
(intravesicular	W12	6M	9M	12M	15M	18M	21M	24M
instillation)
	1	Pap T1	CR*	CR	CR	CR	CR	CR	CR	CR
100 μg
2	Pap Ta	CR*	CR	CR	CR	CR	CR	CR	CR
	3	Pap T1	CR*	CR	CR	CR	CR	CR	CR	CR
	4	Pap T1	IC	CR*	CR	CR	CR	CR	CR	CR
200 μg
5	CIS	IC	IC	IC	CR	CR	CR	CR	CR
	6	Pap T1	CR*	CR	CR	CR	CR	CR	CR	CR
	7	Pap T1	CR*	CR	CR	CR	CR	CR	CR	CR
400 μg
8	CIS	CR*	CR	CR	CR	CR	CR	CR	CR**
	9	Pap Ta	CR*	CR	CR	CR	CR	CR	CR	CR

9 of 9 (100%) Patients Disease-Free at 24 Months

BCG naïve alone (SoC): Historical response rate is 55-75% at 3-6 months post BCG alone

Based on this data, FDA granted Fast Track Designation to the Pivotal Trial

*CR termed as No Recurrence (NR) in Papillary Disease **Negative Cystoscopy Inconclusive Cytology

ImmunityBio, Inc. & NantKwest Inc. - JP Morgan Healthcare Conference 2020

14

Cancer Breakthroughs 2020:

Evidence of Early Signals of Durable Complete Remission in Multiple Tumor Types

Complete & Durable Responses in

Advanced Metastatic Disease Across Multiple Tumor Types

Indication

Responses

Duration of Response Chemotherapy Free

NK & T Cell Activator

N-803
BCG Unresponsive CIS Bladder Cancer (Phase II)	34 / 46 CR	3 - 29 Months
	& Ongoing

Off-the-Shelf

Natural Killer Cell Line

haNK

PD-L1t-haNK

ImmunityBio, Inc. & NantKwest Inc. - JP Morgan Healthcare Conference 2020

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Breakthrough Designation

Registrational Trial in BCG Unresponsive CISNMIBC

2ndLine N-803 + BCG

Indication and Tumor	Design	Patients	CR Rate	Cystectomy	Safety &
Type	Enrolled	Avoidance	Tolerability
2ndLine	Single Arm:	55 / 80	73%	89%	1%
BCG Unresponsive	BCG + N-803	Complete	Cystectomy	with treatment
to Date
CIS	N = 80	Response	Free	related SAEs

16

Breakthrough Designation

Registrational Trial in BCG Unresponsive CISNMIBC

2ndLine N-803 + BCG Compared to Pembro December Approval

				Drug	Patients	CR any	CR 3	CR 6	CR 9	CR 12
				time	months	months	months	months
				N-803 + BCG	55	73%		Ongoing Study
				CI (57%, 85%)
	Dec 2019

Local Therapy - 1% Adverse Events

Pembro	96	NA	41%	NA	NA	20%
Systemic Therapy			CI (25%, 51%)			CI (16%, 33%)

Systemic Therapy - >10% Adverse Events

Cancer Breakthroughs 2020:

Evidence of Early Signals of Durable Complete Remission in Multiple Tumor Types

Complete & Durable Responses in

Advanced Metastatic Disease Across Multiple Tumor Types

Indication

Responses

Duration of Response Chemotherapy Free

NK & T Cell Activator

N-803

3rdLine Relapsed & Refectory Checkpoint

Non-Small Cell Lung Cancer

Off-the-Shelf

Natural Killer Cell Line

haNK

PD-L1t-haNK

10 / 56 ORR

2 - 45 Months

& Ongoing

ImmunityBio, Inc. & NantKwest Inc. - JP Morgan Healthcare Conference 2020

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Metastatic Non-Small Cell Lung Cancer (NSCLC)

N-803 in Combination with Nivolumab in 3rdLine or Greater Patients

Relapsed and Refractory to Nivo or Chemo

Efficacy	All Patients	PD-L1 ≥ 50%
Enrolled
Endpoint	(n=16)
(n=56)
Median	3.5 Months	4.5 Months
Progression
(2.7, 5.1)	(1.4, 8.5)
Free Survival
Median Overall	13.4 Months	17.1 Months
Survival	(9.6, 19.5)	(4.6, Ongoing)
Overall	18%	38%
Response Rate
Stable Disease	45%	38%
Disease	63%	75%
Control Rate

Jan 12, 2020: Presented, Plenary

Session: Sixth AACR-IASLC

International Joint Conference: Lung Cancer Translational Science from the Bench to the Clinic

ImmunityBio, Inc. & NantKwest Inc. - JP Morgan Healthcare Conference 2020

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N-803 When Combined with Nivo Appears to Reduce AE's

Associated with Checkpoint Inhibitors

Comparison of Immune Related AEs in 2ndLine Treatment of NSCLC

Agent	Trial	Immune Related AEs
Grade 3 or higher
Nivo + N-803	NCT02523469	7%
Nivo Alone	Checkmate 57	~14%
Pembro Alone	Keynote 10	~15%

ImmunityBio, Inc. & NantKwest Inc. - JP Morgan Healthcare Conference 2020

Cancer Breakthroughs 2020:

Evidence of Early Signals of Durable Complete Remission in Multiple Tumor Types

Complete & Durable Responses in

Advanced Metastatic Disease Across Multiple Tumor Types

Indication

Responses

Duration of Response Chemotherapy Free

NK & T Cell Activator

N-803

3rdLine Merkel Cell Carcinoma

2 / 7 CR

31 - 46 Months

& Ongoing

Off-the-Shelf

Natural Killer Cell Line

haNK

PD-L1t-haNK

ImmunityBio, Inc. & NantKwest Inc. - JP Morgan Healthcare Conference 2020

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Phase I/II: Complete Response in Merkel Cell CarcinomaWho Failed Checkpoints & Previous Chemotherapy

10/2014	12/2014			01/2015	04/2015	06/2015
First consultation at UW, Seattle	After RT plus IFN plus Imiquimod	Recurrent MCC nodules on	anti-PD-1 after 12 weeks of	Enrolled on a clinical
				scalp in RT fields. Started anti-			pembrolizumab	trial of intralesional
				PD-1 (pembrolizumab) for	Pembrolizumab discontinued	TLR-4 agonist plus RT
				unresectable MCC	due to progressive disease

07/2015	12/2015	03/14/2016	03/30/2016	06/21/2016	09/01/2016
Received neutron RT to scalp	Recurrent MCC tumors on	Enrolled on aNK trial	Day 14	Day 99	Day 171
and B/L neck tumors.	scalp.	Baseline Day 01		No New Lesions	No New Lesions
		First Infusion on 03/15/2016		Since 03/14/2016	Since 03/14/2016

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Durable Complete Response in Merkel Cell Carcinoma

aNK alone	Treatment Initiation - August 2016
No Treatment Since July 2019
followed by	Durable Complete Response 42 Months and Ongoing
Checkpoint	Patient alive and disease free to date
	(1,258 Days: 3.5 Years - As of Jan 11, 2020)

Page 23

Cancer Breakthroughs 2020:

Evidence of Early Signals of Durable Complete Remission in Multiple Tumor Types

Complete & Durable Responses in

Advanced Metastatic Disease Across Multiple Tumor Types

Indication

Responses

Duration of Response Chemotherapy Free

NK & T Cell Activator

N-803

Indolent Non-Hodgkin Lymphoma

Off-the-Shelf

Natural Killer Cell Line

haNK

PD-L1t-haNK

10 / 21 CR

10 - 26 Months

& Ongoing

ImmunityBio, Inc. & NantKwest Inc. - JP Morgan Healthcare Conference 2020

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Relapsed Indolent Non-Hodgkin's Lymphoma Phase 1/2 Clinical Trial of N-803 Plus Rituximab

IL15N72D			Best Response	SubQ (N=9)
15Ra		Rel/ref	CR	7 (78%)
+
Indolent	PR	0 (0%)
IgG1Fc	Non-Hodgkin
		Lymphoma
N-803		ORR	7 (78%)
	rituximab
(IL-15 Super
Agonist Complex)	(anti-CD20 mAb)	SD	2 (22%)
		78% CR Rate
		PD	0 (0%)

ImmunityBio, Inc. & NantKwest Inc. - JP Morgan Healthcare Conference 2020

Cancer Breakthroughs 2020:

Evidence of Early Signals of Durable Complete Remission in Multiple Tumor Types

Complete & Durable Responses in

Advanced Metastatic Disease Across Multiple Tumor Types

Indication

Responses

Duration of Response Chemotherapy Free

NK & T Cell Activator

N-803

Off-the-Shelf	4thLine Head & Neck Cancer	1 / 4 CR	7 Months	Metronomic Low Dose
Natural Killer Cell Line

haNK

PD-L1t-haNK

ImmunityBio, Inc. & NantKwest Inc. - JP Morgan Healthcare Conference 2020

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5thLine Relapsed Head and Neck Cancer

Patient: 3090-001-002

Pre-Treatment

5thLine

Complete Response in 5th

Line Metastatic Head & Neck

Cancer After 2 Cycles

Complete Remission Post

Cancer Memory Vaccine

Treatment

After 2-Cycles

5 cm

Tumor Mass

Failed Radiation,

Chemo, Checkpoint

(5thLine)

Complete

Response

CT SCAN

Complete

Response

CT SCAN

PET SCAN

5 cm

Tumor Mass

Failed Radiation, Chemo,

Checkpoint

(5thLine)

Tumor Mass Completely

Resolved After 60 Days

(2 Cycles, July 15, 2018)

Unpublished Data

ImmunityBio, Inc. & NantKwest Inc. - JP Morgan Healthcare Conference 2020

27

Cancer Breakthroughs 2020:

Evidence of Early Signals of Durable Complete Remission in Multiple Tumor Types

Complete & Durable Responses in

Advanced Metastatic Disease Across Multiple Tumor Types

Indication

Responses

Duration of Response Chemotherapy Free

NK & T Cell Activator

N-803

Off-the-Shelf

Natural Killer Cell Line

haNK

3rdLine Triple Negative Breast Cancer

2 / 9 CR

PD-L1t-haNK

9 - 12 Months	Metronomic Low Dose
& Ongoing

ImmunityBio, Inc. & NantKwest Inc. - JP Morgan Healthcare Conference 2020

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% Change from Baseline

	Jan 11, 2020
3rdLine Triple Negative Breast Cancer
Best Response by Resist 1.1
20%	20% Progression
X002	ORR: PR*+ CR: 5 / 9 (56%)
X004
0%	Complete Response: 2 / 9 (22%)
X003
	Disease Control: 7 / 9 (78%)

-20%	SD 006
	-30% Partial Response
	PR 003
-40%	X010	X001

-60%

										Legend
										Stable Disease
-80%										Partial Response
				CR 008						Complete Response
									Withdrew
-100%					CR 009					X = Off-Study
Baseline	Scan 1	Scan 2	Scan 3	Scan 4	Scan 5	Scan 6	Scan 7
		2 Months	4 Months	6 Months	8 Months	10 Months	12 Months	14 Months

Presented at 2019 San Antonio Breast Cancer Symposium

As of Jan 2020

Encouraging Efficacy Signals with Combination Therapy

KEYNOTE-086

QUILT-3.067

NANT Triple Negative Breast Cancer (TNBC) Vaccine: Molecularly Informed Integrated Immunotherapy in Subjects With TNBC Who Have Progressed on or After Standard-of-care Therapy.

9 out of 170 patients responded
(5.3% ORR)	5 (2 CR + 3 PR) out of 9patients responded	(56% ORR)
2 out of 170 patients had complete response	(1.2% CR)	2 out of 9 patients had complete response	(22% CR)
13 out of 170 patients had disease control	(7.6% DCR)	7 out of 9 patients had disease control	(78% DCR)
		ImmunityBio, Inc. & NantKwest Inc.	- JP Morgan Healthcare Conference 2020		30

Cancer Breakthroughs 2020:

Evidence of Early Signals of Durable Complete Remission in Multiple Tumor Types

59 out of 105 (56%) Complete Responses in 7 Tumor Types 69 out of 161 (41%) Overall Response Rate in 8 Tumor Types

Complete & Durable Responses in

Advanced Metastatic Disease Across Multiple Tumor Types

Indication

Responses

Duration of Response Chemotherapy Free

NK & T Cell Activator

N-803

Off-the-Shelf

Natural Killer Cell Line

haNK

PD-L1t-haNK

2ndLine Metastatic Pancreatic Cancer

1 / 9 CR

2 Months	Metronomic Low Dose
& Ongoing

ImmunityBio, Inc. & NantKwest Inc. - JP Morgan Healthcare Conference 2020

31

PD-L1t-haNK (Tumor Targeted High Affinity NK)

First In Human PD-L1Off-the-Shelf NK

• haNK cells engineered to incorporate CARs to target cancer cells displaying specific surface antigens
• Three modes of killing: via NK receptors, ADCC, and CAR directed killing
• ADCC andCAR-directed cytotoxicity are independent but synergistic
• Currently in Development:

o	PD-L1t-haNK	Phase I Complete
o	CD19 t-haNK	IND Approved
o	HER2 t-haNK	IND Ready

1/14/2020

HER2 taNK

32

			2ndLine Metastatic Pancreatic Cancer
		Complete Response After Five PD-L1t-haNK
		Liver Metastasis	Infusions with N-803
		July 12, 2019
5000		Positive PET CT
		Relapse FOLFIRI
4500

9-CA19

4000	CA19-9 Level decreases from 4584 to 50
3500

3000

2500

2000

1500

November 14, 2019

Dec 30, 2019

1000

Complete Response

PET CT

Confirmed Complete Response

500

PD-L1t-haNK

N-803

PET CT

0

8/12/19

8/19/19

8/26/19

9/2/19

9/9/19

9/16/19

9/23/19

9/30/19

10/7/19

10/14/19

10/21/19

10/28/19

11/4/19

11/11/19

11/18/19

11/25/19

12/2/19

12/9/19

12/16/19

12/23/19

12/30/19

1/6/20

Chemo Modulation	Chemo Modulation	Chemo Modulation
	N-803	N-803
	PD-L1t-haNK	PD-L1t-haNK
		Aldoxorubicin

ImmunityBio, Inc. & NantKwest Inc. - JP Morgan Healthcare Conference 2020

33

Cancer Breakthroughs 2020:

Evidence of Early Signals of Durable Complete Remission in Multiple Tumor Types

59 out of 105 (56%) Complete Responses in 7 Tumor Types 69 out of 161 (41%) Overall Response Rate in 8 Tumor Types

NK & T Cell Activator

N-803

Off-the-Shelf

Natural Killer Cell Line

haNK

PD-L1t-haNK

Complete & Durable Responses in

Advanced Metastatic Disease Across Multiple Tumor Types

Indication	Responses	Duration of Response	Chemotherapy Free
BCG Naïve Bladder Cancer (Phase I)	9	/ 9 CR	> 24 Months
BCG Unresponsive CIS Bladder Cancer (Phase II)	34	/ 46 CR	3 - 29 Months
& Ongoing
3rdLine Relapsed & Refectory Checkpoint	10 / 56 ORR	2 - 45 Months
Non-Small Cell Lung Cancer	& Ongoing
3rdLine Merkel Cell Carcinoma	2	/ 7 CR	31 - 46 Months
& Ongoing
Indolent Non-Hodgkin Lymphoma	10	/ 21 CR	10 - 26 Months
& Ongoing
4thLine Head & Neck Cancer	1	/ 4 CR	7 Months	Metronomic Low Dose
3rdLine Triple Negative Breast Cancer	2	/ 9 CR	9 - 12 Months	Metronomic Low Dose
& Ongoing
2ndLine Metastatic Pancreatic Cancer	1	/ 9 CR	2 Months	Metronomic Low Dose
& Ongoing

ImmunityBio, Inc. & NantKwest Inc. - JP Morgan Healthcare Conference 2020

34

1990 - 2017:Key First-in-Class Immunogenic Cell Death Agents

2016:Announce Cancer Breakthroughs 2020

2017:Obtain FDA Authorization to Test Novel-Novel Immunological Combinations - QUILT

The NANT Cancer Vaccine: The Triangle Offense

2017 - 2019: Demonstrate Early Signals of Durable Complete Remission

2020 - 2023: Forecast for FDA Approvals in Multiple Tumor Types

ImmunityBio, Inc. & NantKwest Inc. - JP Morgan Healthcare Conference 2020

35

Cancer Breakthroughs 2020:

Phase I / II Trials to Test the Hypothesis of the "Triangle Offense" in Multiple Tumor Types

Albumin Bound

Tumor DAMP Inducer

Epigenetic Tumor

Modifier

NK & T Cell Activator

Off-the-Shelf

Natural Killer Cell Line

Unique Adenovirus

Dendritic Cell Activator

FDA Interactions and Authorizations

	2017	2018	2019	2017-2019
Formal Interactions with FDA	135	268	278	681
INDs Authorized by FDA	13	2	3	18
Pivotal Studies with	4	1	2	7
Registrational Intent
spINDs Issued	11	26	38	75
Investigator-initiated(II)-INDs	5	2	14	21
Issued
Fast Track Designations	2	0	1	3
Breakthrough Therapy	0	0	1	1
Designation
FDA Approval	0	0	1	1

ImmunityBio, Inc. & NantKwest Inc. - JP Morgan Healthcare Conference 2020

36

Tumor Types and Indications Treated

Tumor Type	Number of Indications
Non-Small Cell Lung Cancer (NSCLC)	4
Colon	2
Head & Neck Squamous Cell Carcinoma	2
Indolent Non-Hodgkin's Lymphoma	2
Merkel Cell Carcinoma (MCC)	2
Non-Muscle Invasive Bladder Cancer (NMIBC)	2
Ovarian	2
Pancreatic	2
Prostate	2

Albumin Bound

Tumor DAMP Inducer

Epigenetic Tumor

Modifier

NK & T Cell Activator

Off-the-Shelf

Natural Killer Cell Line

Tumor Types & Indications

Studied (2017 - 2020)

Number of Tumor Types	36
Number of Indications	48

Triple Negative Breast Cancer (TNBC)	2
Acute Myeloid Leukemia (AML)	1
Adenoid Cystic Carcinoma	1
Burkitt Lymphoma	1
Carcinosarcoma	1
Cervical	1
Cholangiocarcinoma	1
Chordoma	1
Clear Cell Sarcoma	1
Esophageal	1
Ewing Sarcoma	1
Gastric	1
Glioblastoma	1
Inflammatory Breast Cancer	1
Intravascular Angiosarcoma	1
Laryngeal Squamous Cell Carcinoma	1
Medullary Carcinoma	1
Melanoma	1
Mesothelioma	1
Myelodysplastic Syndrome (MDS)	1
Osteosarcoma	1
Progressive Multifocal Leukoencephalopathy (PML)	1
Rectal	1
Renal Cell Carcinoma (RCC)	1

Unique Adenovirus

Dendritic Cell Activator

Rhabdomyosarcoma	1
Small Cell Lung Cancer (SCLC)	1
Spindle Cell Sarcoma	1
36 Total Tumor Types	48 Total Indications

ImmunityBio, Inc. & NantKwest Inc. - JP Morgan Healthcare Conference 2020

37

Cancer Breakthroughs 2020:

Phase I / II Trials to Test the Hypothesis of the "Triangle Offense" in Multiple Tumor Types

Peer Review Publications 2017 - 2019

Albumin Bound

Tumor DAMP Inducer

Epigenetic Tumor

Modifier

NK & T Cell Activator

Off-the-Shelf

Natural Killer Cell Line

Unique Adenovirus

Dendritic Cell Activator

	Publications
Aldoxorubicin	15
Nanatinostat	1
N-803	23
Natural Killer Cells	15
(aNK, haNK, PD-L1t-haNK)
Adenovirus	4
GPS Cancer & Neoepitope	39
Total	94

ImmunityBio, Inc. & NantKwest Inc. - JP Morgan Healthcare Conference 2020

38

Selected Key Publications

ImmunityBio, Inc. & NantKwest Inc. - JP Morgan Healthcare Conference 2020

39

Cancer Breakthroughs 2020:

Phase I / II Trials to Test the Hypothesis of the "Triangle Offense" in Multiple Tumor Types

Albumin Bound

Tumor DAMP Inducer

Epigenetic Tumor

Modifier

Clinical Trial Sites & Investigators Activated (2016 - 2019)

• 206Clinical Trial Sites Activated
• 206Investigators
• 20Clinical Trials Actively Enrolling
• 41States

NK & T Cell Activator

Off-the-Shelf

Natural Killer Cell Line

Unique Adenovirus

Dendritic Cell Activator

ImmunityBio, Inc. & NantKwest Inc. - JP Morgan Healthcare Conference 2020

40

Off the Shelf Natural Killer Cells as a Product:

World's Largest Production and Clinical Infusion of Natural Killer Cells

3.3 Trillion Cells Manufactured

Off-the-Shelf

Natural Killer Cell Line

1.6 Trillion Cells in Storage

Off-the-Shelf Natural Killer Cells

Linearly Scalable

By the Numbers:

aNK / haNK / PD-L1t-haNK	2017 - 2019
Number of Cells Manufactured in	3.3 Trillion Cells
GMP Facility to Date
Number of Patients Dosed	53
as Outpatient
Number of Doses Administered	719
(>2 Billion Cells Per Dose)
Number of Cells Administered to 53	1.5 Trillion Cells
Patients Since 2017
Number of Cells in Storage	1.6 Trillion Cells
NK Treatment Related	Zero
Cytokine Storm

Off-the-Shelf Engineered NK-92

aNK, haNK, PD-L1t-haNK

Ready for Transfusion

Cryopreserved Off-the-Shelf

NK Product

ImmunityBio, Inc. & NantKwest Inc. - JP Morgan Healthcare Conference 2020

41

Cancer Breakthroughs Forecast for Next Four Years

Anticipated BLA Registration Filings 2020 - 2024

Tumor Types & Indications

Filing Date

NANT Agents

# of

# of Patients

Forecast

Sites

Accrued to Date

ImmunityBio

ImmunityBio

NantKwest

Bladder Cancer: BCG Unresponsive

2020

35 Active Sites

FDA Breakthrough

Complete

NMIBC CIS

N-803

55 / 80

Bladder

Response

Bladder Cancer: BCG Unresponsive

2021

35 Active Sites

FDA Fast Track

NMIBC Papillary

N-803

40 / 80

Bladder Cancer: BCG Naive

2023

32 Active Sites

FDA Fast Track

NMIBC CIS

N-803

49 / 366

Non-Small Cell Lung Cancer:

2021

25 Active Sites

19 / 55

Durable

Checkpoint Relapsed 2

nd

Line

N-803

Response

Non-Small Cell Lung Cancer:

2021

25 Active Sites

8 / 43

Lung

Checkpoint Relapsed 3rdLine

N-803

Non-Small Cell Lung Cancer:

2021

To Be Opened

0 / 55

Durable

PD-L1 Expression Second Line

N-803

PD-L1t-haNK

Response

Non-Small Cell Lung Cancer:

2023

28 Active Sites

11 / 388

PD-L1 Expression 1st

Line

N-803

TNBC

Triple Negative Breast Cancer

2022

To Be Opened

0 / 43

Complete

rd

Line

N-803

Aldox

PD-L1t-haNK

Response

3

MCC

Merkel Cell Carcinoma:

2023

3 Active Sites

1 / 43

Complete

Checkpoint Relapsed, 2ndLine

N-803

haNK

Response

Panc

Response

Metastatic Pancreatic Cancer

2024

N-803

Aldox

PD-L1t-haNK

To Be Opened

0 / 188

2

Line

Complete

nd

ImmunityBio, Inc. & NantKwest Inc. - JP Morgan

Total Patients Accrued To Date = 183 / 1341

42

1990 - 2017:Key First-in-Class Immunogenic Cell Death Agents Identified

2016:Announced Cancer Breakthroughs 2020
2017:Obtained FDA Authorization to Test Novel-Novel-Novel Immunological Combinations
2017 - 2019:39 INDs Authorized with >200 Investigator Sites in 41 States
94 Peer Reviewed Scientific Publications
The Triangle Offense, QUILT Trials Completed with Over 1 Trillion NK Cells Infused
Combination Therapy Tested in 36 Tumor Types in 48 Indications
Tumor Mutation Burden for Tumor-Normal Tissue: First FDA Approval in US - Omics Core
Demonstrated Early Signals of Durable 59 Complete Remissions out of 105 Solid Tumors in Multiple Diseases
2020 - 2023: Forecast for FDA Approvals in Multiple Tumor Types
Breakthrough Status Achieved for Bladder Cancer
7 Active Registration Trials in Bladder, Lung, and Merkel Cell Cancer
NantKwest & ImmunityBio to Integrate Platforms of NK Cells, N-803 and Aldoxorubicin	43
ImmunityBio, Inc. & NantKwest Inc. - JP Morgan Healthcare onference 2020

The Cross Talk of the Immune System in Cancer

Inducing Immunogenic Cell Death

Cancer

Cell

TregTumorMDSCs

Microenvironment

M2 Macrophages

Off-the-Shelf NK Cell

Natural Killer

(NK) Cell

E2b Deleted Adenovirus

Cross Talk	Dendritic Cell

IL-15 Fusion Protein

Cross Talk	Memory Killer
T Cell

PD-L1t-haNK

N-803

NASDAQ: NK

NK Cell - Born to Kill:

Nature's Killer Cell

Innate Immune System

Dendritic Cell - The Trainer:	T Cell - Trained to Kill:
Nature's Trainer Cell	Nature's Targeted Killer
The Cross Talk Between	Adaptive Immune System
ImmunityBio, Inc.Innate & Adaptive Immune SystemConference 2020	44