Slide 1: 3Q 2025 Results Conference Call and Webcast
3Q 2025 Results Conference Call and Webcast November 6, 2025 Nasdaq: ZYME | zymeworks.com
Slide 2: Legal Disclaimer
Legal Disclaimer This presentation and the accompanying oral commentary include “forward-looking statements” or information within the meaning of the applicable securities legislation, including Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of
Slide 3: 3Q 2025 Earnings Results Call Agenda
3Q 2025 Earnings Results Call Agenda Leone Patterson, MBA, CPA Sabeen Mekan, MD Paul Moore, Ph.D. Ken Galbraith EVP, CBO and CFO SVP Clinical Development CSO Chair and CEO • Business Update • Clinical Updates • R&D Update • Q&A • Financial Update • Q&A • Q&A • Q&A 3
Slide 4: Financial Update
FINANCIAL UPDATE Leone Patterson, MBA, CPA Executive Vice President, Chief Business and Financial Officer 4
Slide 5: Continued Progress Across Business in Q3 2025
Continued Progress Across Business in Q3 2025 Pipeline Partnership Financial Progress Progress Highlights • In October 2025, at EMSO our partner • J&J Innovative Medicine Initiated Progress on both clinical and preclinical Jazz presented a trial-in-progress poster Phase 3 study for pasritamig (JNJ-
Slide 6: 3Q 2025 Revenues, Operating Expenses and Cash Resources
3Q 2025 Revenues, Operating Expenses and Cash Resources Revenue Operating Expenses Cash, Cash equivalents and Royalty (USD) (USD) Marketable Securities (USD) Research support fee R&D & drug supply Milestones G&A $45.8M $333.4M $ 1.0 M $ 14.1 M $ 13.9 M $1.4 M $15.0M $324.2M $15.7M $ 324.2 M $34.4M $
Slide 7: Clinical Development Update
CLINICAL DEVELOPMENT UPDATE Sabeen Mekan, MD Senior Vice President, Clinical Development 7
Slide 8: ZW191 Demonstrates a Favorable Clinical Safety Profile
ZW191 Demonstrates a Favorable Clinical Safety Profile ZW191 ZW191 ZW191 ZW191 ZW191 ZW191 ZW191 Total TRAE, n (%) 1.6 mg/kg 3.2 mg/kg 4.8 mg/kg 6.4 mg/kg 8.0 mg/kg 9.6 mg/kg 11.2 mg/kg (n=41) (n=3) (n=3) (n=4) (n=10) (n=11) (n=8) (n=2) Any TRAE 1 (33) 3 (100) 3 (75) 8 (80) 10 (91) 6 (75) 2 (100) 33
Slide 9: ZW191 Demonstrates a Potential Best-In-Class Efficacy Profile
ZW191 Demonstrates a Potential Best-In-Class Efficacy Profile Best percent change in target lesion size from baseline (n=27) Preliminary efficacy for response-evaluable participants with gynecological cancer ZW191 ZW191 ZW191 ZW191 ZW191 ZW191 ZW191 Best 1.6 3.2 4.8 6.4 8.0 9.6 6.4-9.6 Total respons
Slide 10: ZW191: Next Steps
ZW191: Next Steps • Building confidence in our ADC platform through safety, Data-Driven pharmacokinetics, and efficacy with emerging clinical Development data • 11.2 mg/kg dose defined as MTD since this data-cut • Randomized dose optimization to begin in 4Q-2025 in Optimization & platinum resistant
Slide 11: ZW251: Phase 1 Study in Glypican 3-Expressing HCC
ZW251: Phase 1 Study in Glypican 3-Expressing Hepatocellular Carcinoma (HCC) (NCT07164313) Key Eligibility Criteria Part 1: Dose Escalation (~6 dose levels; n=60) Part 2: Dose Optimization (n=40) • HCC advanced or metastatic • Progressed on SOC treatment ZW251 ZW251 • Measurable by RECIST 1.1 ZW251
Slide 12: Research & Development Update
RESEARCH & DEVELOPMENT UPDATE Paul Moore, Ph.D. Chief Scientific Officer 12
Slide 13: ZW191 Phase 1 Data Provides Early Validation of ADC Platform
ZW191 Phase 1 Data Provides Early Validation of ADC Platform and Design Philosophy Clinical Assets Preclinical Assets Next Gen ZW191 ZW251 ZW220 ZW327 ZW318 Target FRα GPC3 NaPi2b Ly6E PTK7 Various Targeted small molecule, Novel Payload ZD06519 (TOPO1i) ZD06519 (TOPO1i) ZD06519 (TOPO1i) ZD06519 (TOP
Slide 14: ZW171 Phase 1 Provides Learnings for Next-Gen T Cell Engager Pipeline
ZW171 Phase 1 Provides Learnings for Next-Gen T Cell Engager Pipeline Molecular Design Clinical Design MSLN ZW171 MSLN Novel CD3 Azymetric QSP Modelling Target: MSLN x CD3 Subcutaneous Step Up CD3 Epitope and EFECT for FIH & Dose Format: T Cell Engager Delivery Dosing mutations Projections Strategy:
Slide 15: Diverse Potential Revenue Streams from Existing Partnerships
Diverse Potential Revenue Streams from Existing Partnerships • Near-Term Revenue Catalysts: Continued royalties from Jazz and BeOne Medicines for Ziihera® expected in 2025. • Long-Term Growth Potential: Wholly-owned assets provide flexibility for future licensing and royalty opportunities. Current P
Slide 16: Q&A
Q&A Ken Galbraith Chair & CEO Paul Moore, Ph.D. CSO Leone Patterson, MBA, CPA EVP, CBO and CFO Sabeen Mekan, MD SVP Clinical Development 16