Business Description

OVERVIEW AbCellera is a clinical-stage biotechnology company focused on discovering and developing first-in-class antibody medicines for indications with high unmet medical need. We have built a platform for advancing antibody drug programs that we believe provides us with a competitive advantage in addressing challenging, high-value targets such as complex transmembrane proteins and novel modalities including multispecifics and antibody-drug conjugates. While we historically used our platform for our partners’ programs, we have evolved our strategy to build our own internal pipeline of AbCellera-owned drug assets. In 2025, we achieved a number of important milestones: • Initiated clinical trials for our first two internal drug candidates , ABCL635 and ABCL575. Our lead candidate, ABCL635, is a potential first-in-class non-hormonal medicine for moderate-to-severe vasomotor symptoms (VMS), also known as hot flashes. It is currently being evaluated in a Phase 2 clinical trial in Canada for the treatment of moderate-to-severe VMS associated with menopause, and we anticipate the topline data readout for the Phase 1/2 study in Q3 2026. Our second clinical candidate, ABCL575, is being evaluated in a Phase 1 clinical trial in Canada as a potential best-in-class medicine for the treatment of atopic dermatitis and other inflammation and immunology (I&I) conditions. We anticipate the topline data readout for the Phase 1 study of ABCL575 in Q4 2026. • Nominated two additional development candidates (DCs) , ABCL688 and ABCL386. We anticipate initiating Phase 1/2 clinical trials for ABCL688 and ABCL386 in 2027. • Opened our clinical manufacturing facility , which completes a multi-year investment to build our integrated platform for creating antibody medicines. As of December 31, 2025, we have approximately $700 million in available liquidity to continue executing on our strategy. We believe we have the capital to fund