Slide 1: Company overview
Company overview March 2026
Slide 2: Disclaimer on forward-looking information and risk factors
Disclaimer on forward-looking information and risk factors This document has been prepared by Innate Pharma S.A. (the “Company”) solely for the purposes of a presentation concerning the Company. This document is not to be reproduced by any person, nor to be distributed. This document contains certai
Slide 3: A focused oncology company built for impact
A focused oncology company built for impact High-conviction targets In-house expertise and technologies to discover differentiated Ab therapeutics INNATE PHARMA Clinical & commercial value Smart & agile execution Focused on 3 high-value clinical assets Reshaped and fit-for-purpose Short-term catalys
Slide 4: Focused on 3 high-value assets
Focused on 3 high-value assets Phase 1 ongoing Phase 3 Initiation* in H2 2026 Phase 3 readout in H2 2026 Cohort enrichment ongoing TELLOMAK-3 PACIFIC-9 IPH4502 LACUTAMAB MONALIZUMAB IPH4502 LACUTAMAB MONALIZUMAB Nectin-4 ADC in solid tumors Anti-KIR3DL2 mAb in CTCL Anti-NKG2A mAb in NSCLC Clinical •
Slide 5: Lacutamab, anti-KIR3DL2 Ab
Lacutamab, anti-KIR3DL2 Ab Lead proprietary antibody progressing towards potential accelerated approval and Phase 3 initiation Lacutamab is an investigational antibody under clinical evaluation. It is not approved for any indication, and its safety and efficacy have not been established. 5
Slide 6: Lacutamab is a cytotoxic antibody targeting KIR3DL2 expressed on tumors
lacutamab Lacutamab is a cytotoxic antibody targeting KIR3DL2 expressed on tumors Precise targeting of tumor-specific antigen leads to deep tumor cell depletion KIR3DL2 is a tumor-associated antigen expressed in CTCL and PTCL CTCL: Cutaneous T-Cell Lymphoma; PTCL: Peripheral T-Cell Lymphoma; Lacutam
Slide 7: KIR3DL2 represents a high-conviction target in CTCL and PTCL with high unmet medical need
lacutamab KIR3DL2 represents a high-conviction target in CTCL and PTCL with high unmet medical need Sézary syndrome Mycosis fungoides Peripheral T-cell lymphoma (SS) (MF) (PTCL) ~5% of CTCL ~70% of CTCL ~10% of NHL Epidemiology In US ~300 patients incidence ~3000 patients incidence ~7000 patients in
Slide 8: CTCL patients face a high unmet medical need
lacutamab CTCL patients face a high unmet medical need Poor outcomes in advanced stages Strong impact on quality of life 94% 84% 78% Pruritus (itching) 5Y-OS (%) 47% 47% Visible disfiguring skin 40% 37% changes 18% 18% Fatigue and sleep disturbance IA IB IIA IIB IIIA IIIB IVA1 IVA2 IVB MF Early-stag
Slide 9: Current CTCL market is fragmented and needs new effective therapies
lacutamab Current CTCL market is fragmented and needs new effective therapies Mogamulizumab is approved for adult patients with relapsed or refractory MF or SS following at least 1 prior systemic therapy Sézary syndrome Mycosis fungoides Methotrexate Clinical trial 2% 2% 1% 2% Adcetris 3% 3% 6% 10%
Slide 10: In Phase 2 TELLOMAK, lacutamab demonstrated clinical benefit in SS patients
lacutamab In Phase 2 TELLOMAK, lacutamab demonstrated clinical benefit in SS patients with ≥2 prior lines of systemic therapy including mogamulizumab TELLOMAK Phase 2 - Cohort 1 (N=63 patients) : SS patients post-mogamulizumab ≥2 prior lines of systemic therapy Global ORR 42.9% (95% CI [31.4-55.1])
Slide 11: In mycosis fungoides, lacutamab induced deep responses regardless of KIR3DL2 expression level
lacutamab In mycosis fungoides, lacutamab induced deep responses regardless of KIR3DL2 expression level TELLOMAK Phase 2 – MF Cohorts KIR3DL2 ≥ 1% or KIR3DL2 <1% (N=107 patients), ≥2 prior lines of systemic therapy Global ORR 19.6% (95% CI [13.2-28.1]) Median DoR 13.8 months (95% CI [7.4-NE]) Median
Slide 12: Lacutamab is progressing toward Phase 3 initiation and a potential Accelerated Approval in Sézary syndrome
lacutamab Lacutamab is progressing toward Phase 3 initiation and a potential Accelerated Approval in Sézary syndrome Breakthrough Path to FDA clearance to Therapy Accelerated proceed with Designation for R/R SS Approval in SS Phase 3 Feb 2025 Nov 2025 Fast Track designation (FDA) Phase 2 TELLOMAK da
Slide 13: TELLOMAK-3, a confirmatory Phase 3 trial in CTCL
lacutamab TELLOMAK-3, a confirmatory Phase 3 trial in CTCL Open-label, multi-center, randomized comparative Phase 3 study of lacutamab in R/R patients with MF or SS Primary Key secondary endpoint endpoints Lacutamab KEY ELIGIBILITY SS cohort Randomization PFS CRITERIA Post moga OS 1:1 (BICR) n=108 R
Slide 14: Lacutamab projected regulatory timelines - potential AA in SS in 2027
lacutamab Lacutamab projected regulatory timelines - potential AA in SS in 2027 2025 2026 2027 2028 2029 2030 Sézary syndrome Regular Phase 2 BLA Accelerated sBLA Approval Approval SS data SS post-moga data from TELLOMAK T2V* Approval Primary analysis PFS Phase 3* SS cohort MF cohort Mycosis fungoid
Slide 15: Positioning lacutamab as preferred systemic therapy within NCCN Guidelines
lacutamab Positioning lacutamab as preferred systemic therapy within NCCN Guidelines St IA St IB IIA St IIB St III St IV Skin Directed Topical corticosteroids, imiquimod, retinoids, phototherapy (NB-UVB or PUVA), localized radiation therapy, total-skin electron beam therapy Bexarotene Interferon-alf
Slide 16: A significant untapped growth opportunity for lacutamab in CTCL
lacutamab A significant untapped growth opportunity for lacutamab in CTCL POTELIGEO® (mogamulizumab) Lacutamab positioned to expand Sales revenue (Million US$) value through multiple levers Market share Treatment duration Pricing Mogamulizumab sales establish CTCL market potential; lacutamab is posi
Slide 17: CTCL opportunity is accessible with a focused commercial footprint in the US
lacutamab CTCL opportunity is accessible with a focused commercial footprint in the US CTCL patients in the US (Real world claims data analyses using Komodo Health data) SS • >85% patients treated in academic centers US incidence ~300 patients • Shared MF/SS prescriber base US prevalence ~1 000 pati
Slide 18: Lacutamab market potential in CTCL is 500m$+
lacutamab Lacutamab market potential in CTCL is 500m$+ Up to $150m* Up to $500m* >$500m* Patient Incidence # Expand use of CTCL systemic therapy for market 1L Systemic therapy early-stage and expansion other CTCL patients Mycosis Mycosis 2L fungoides fungoides Sézary Sézary Sézary 3L+ syndrome syndr
Slide 19: Lacutamab positioned for clinical impact and commercial value in CTCL
lacutamab Lacutamab positioned for clinical impact and commercial value in CTCL Strong Phase 2 data addressing a Compelling Regulatory Path to value high unmet commercial profile momentum medical need Durable anti-tumor activity Peak year sales potential Potential AA pathway with a favorable tolerab
Slide 20: Further potential in PTCL: building on monotherapy signal and scientific rationale
lacutamab Further potential in PTCL: building on monotherapy signal and scientific rationale • Phase 1 monotherapy showed signal of activity Phase 2 ongoing: KILT, randomized non-comparative Phase 2 study of lacutamab with Gemox versus Gemox in relapsed/refractory peripheral T-cell lymphoma • KIR3DL
Slide 21: Lacutamab potential next catalysts
lacutamab Lacutamab potential next catalysts H2 2026 ≥ 2027 CTCL Phase 3 initiation* Lacutamab AA in SS PTCL Phase 2 data *Financing of the Phase 3 is not included in cash runway; CTCL: Cutaneous T-Cell Lymphoma; PTCL; Peripheral T-Cell Lymphoma; AA: Accelerated Approval; SS: Sézary Syndrome Lacutam
Slide 22: IPH4502 Novel and differentiated DAR8 Nectin-4 exatecan ADC
IPH4502 Novel and differentiated DAR8 Nectin-4 exatecan ADC IPH4502 is an investigational antibody under clinical evaluation. It is not approved for any indication, and its safety and efficacy have not been established. 22
Slide 23: Nectin-4 expression in solid tumors; no Nectin-4 drug approved
IPH4502 Nectin-4 expression in solid tumors 100 No Nectin-4 drug approved PADCEV (enfortumab vedotin, EV) is approved 01 solely for patients with urothelial cancer, where % of Nectin-4 expressing 80 expression of Nectin-4 is the highest tumor samples 60 PADCEV induced toxicity frequently leads to 02
Slide 24: IPH4502: novel and differentiated DAR8 Nectin-4 exatecan ADC
IPH4502 IPH4502: novel and differentiated DAR8 Nectin-4 exatecan ADC Target profile Binder Linker Payload Proprietary humanized anti-Nectin-4 antibody Cleavable Exatecan, a topoisomerase I inhibitor • High affinity • Hydrophilic → improved half-life, low clearance • Active in EV/MMAE-resistant model
Slide 25: IPH4502: overcoming MMAE limitations with Best-in-Class Topo I potential
IPH4502 IPH4502 : overcoming MMAE limitations with Best-in-Class Topo I potential Drug Status Payload DAR Linker IPH4502 Enfortumab vedotin Approved MMAE 4 MC-Val-Cit-PABC Pfizer/Astellas Zelenectide pevedotin Designed to address Ph2* MMAE 1 Val-Cit-SAR10 MMAE Bicycle key MMAE-related limitations Su
Slide 26: Preclinical activity supports IPH4502 opportunity in bladder cancer
IPH4502 Preclinical activity supports IPH4502 opportunity in bladder cancer IPH4502 activity in Post-EV setting IPH4502 activity vs EV in low Nectin-4 PDX models of acquired EV resistance (bladder cancer) PDX models of bladder cancer Bladder cancer Bladder cancer PDX PDX Nectin-4 H-score 300 Nectin-
Slide 27: Preclinical data support IPH4502 potential across solid tumors
IPH4502 Preclinical data support IPH4502 potential across solid tumors IPH4502 activity in solid tumors Potential best-in-class Topo I Nectin-4 ADC PDX models with low and heterogeneous Nectin-4 expression CDX models with high and low Nectin-4 expression HNSCC TNBC EsoC Breast cancer NSCLC PDX PDX P
Slide 28: New preclinical data reinforces best-in-class Topo I Nectin-4 ADC potential
IPH4502 New preclinical data reinforces best-in-class Topo I Nectin-4 ADC Potential CDX model with high CDX model with low Nectin-4 expression Nectin-4 expression Breast cancer NSCLC CDX CDX Nectin-4 High Nectin-4 Low 1200 1200 1000 1000 Tumor volume (mm3) Tumor volume (mm3) Tumor volume (mm3) Tumor
Slide 29: A First-in-Human Phase 1 clinical trial evaluating IPH4502 in solid tumors
IPH4502 A First-in-Human Phase 1 clinical trial evaluating IPH4502 in solid tumors A Phase 1, open-label, multi-center study of the safety, tolerability, and efficacy of IPH4502 as a single agent in advanced solid tumors (NCT06781983) STUDY Dose escalation Dose optimization OBJECTIVES POPULATION n=
Slide 30: Progression After EV+P in Bladder Creates a Therapeutic gap
IPH4502 Progression After EV+P in Bladder Creates a Therapeutic gap ~2/3 of patients progress within 2 years after EV+P No established standard post EV+P Progression-Free Survival from EV-302 (n=886) Fragmented treatment patterns1 and limited outcomes2 Platinum-based chemotherapy (carbo/cis) rwOS 7.
Slide 31: IPH4502 in solid tumors: bladder cancer and beyond
IPH4502 IPH4502 in solid tumors: bladder cancer and beyond IPH4502 potential best-in-class Topo I Nectin-4 ADC Bladder cancer Multiple solid tumors Post-PADCEV setting Low-to-medium Nectin-4 expression Address growing unmet need of post-EV mUC patients* High potential in several tumor types Move up
Slide 32: Monalizumab: Co-developed with AstraZeneca, Phase 3 PACIFIC-9 trial ongoing
Monalizumab Co-developed with AstraZeneca, Phase 3 PACIFIC-9 trial ongoing in NSCLC Monalizumab is an investigational antibody under clinical evaluation. It is not approved for any indication, and its safety and efficacy have not been established. NSCLC: Non-Small Cell Lung Cancer 32
Slide 33: Strategic asset providing scientific validation
monalizumab Strategic asset providing scientific validation Monalizumab, an anti-NKG2A checkpoint inhibitor Monalizumab blocks the NKG2A inhibitory receptor on both NK cells and cytotoxic CD8+ T cells. Monalizumab and durvalumab act synergistically to block the inhibitory action of tumor cells on tu
Slide 34: PACIFIC-9: Phase 3 trial of durvalumab + oleclumab or monalizumab in unresectable stage III NSCLC
monalizumab PACIFIC-9: Phase 3 trial of durvalumab + oleclumab or monalizumab in unresectable stage III NSCLC ✓ Three Phase 2 trials supporting rationale of combination in early NSCLC (COAST, NeoCOAST, NeoCOAST-2) Phase 3 PACIFIC-9 data expected in H2 2026 Barlesi et al. Future Oncol. 2024; NSCLC: N
Slide 35: COAST Phase 2 supports added benefit of monalizumab on top of durvalumab in NSCLC
monalizumab COAST Phase 2 supports added benefit of monalizumab on top of durvalumab in NSCLC COAST, a global, open-label, Phase 2 study of durvalumab (D) alone or combined with the anti-CD73 monoclonal antibody (mAb) oleclumab (O) or anti-NKG2A mAb monalizumab (M) as consolidation therapy • PACIFIC
Slide 36: Financial highlights of the partnership with AstraZeneca on monalizumab
monalizumab Financial highlights of the partnership with AstraZeneca on monalizumab Amounts received Total amount of the agreement: US$ 1.275 billion Potential milestones still to receive Milestone Initial payments 250 100 payments Development and regulatory 50 50 400 In US$ million Commercializatio
Slide 37: Monalizumab potential next catalysts
monalizumab Monalizumab potential next catalysts 2026 H1 2026 H2 ≥ 2027 Phase 3 Phase 3 PACIFIC-9 Monalizumab PACIFIC-9 primary completion data readout BLA in NSCLC (ct.gov) NSCLC: Non-Small Cell Lung Cancer; BLA: Biologics License Application All milestones and timelines are based on management’s c
Slide 38: Conclusion
Conclusion Upcoming catalysts All milestones, projected sales, and timelines are based on management’s current expectations and subject to change 38
Slide 39: A focused portfolio of 3 high-value assets driving Innate's value creation
A focused portfolio of 3 high-value assets driving Innate’s value creation IPH4502 LACUTAMAB MONALIZUMAB Nectin-4 ADC in solid tumors Anti-KIR3DL2 mAb in CTCL Anti-NKG2A mAb in NSCLC • Preliminary anti-tumor activity in • FDA clearance to proceed with • PACIFIC-9 Phase 3 in unresectable heavily pre-
Slide 40: Thank you
EURONEXT : IPH.PA NASDAQ : IPHA Thank you www.innate-pharma.com investors@innate-pharma.fr 40