Fate Therapeutics, Inc. · NASDAQ:FATE
Fate Therapeutics — Investor Presentation (December 2025)
38 slides from Fate Therapeutics's investor presentation, December 2025
Slide 1: Corporate Presentation
TRANSFORMING THE LIVES OF PATIENTS WITH AUTOIMMUNE DISEASES AND CANCER TM Making Cell Therapies Accessible to All Corporate Presentation December 2025 © 2025 Fate Therapeutics. All rights reserved. -1-
Slide 2: Forward-Looking Statements
Forward-Looking Statements This presentation contains "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995, including statements regarding the safety and therapeutic potential of the Company’s product candidates, the advancement of and plans and tim
Slide 3: Uniting the transformational power of cell therapy with unencumbered access
“Uniting the transformational power of cell therapy with unencumbered access” - Bob Valamehr, President & CEO Making Cell Therapy Accessible to All -3-
Slide 4: 2025 Corporate Highlights
2025 Corporate Highlights Competitively positioned to accelerate clinical stage development Milestones Achieved Near Term Next Steps ✓ 12 lupus patients (as of Nov 25th 2025) enrolled with 5 Complete Phase 1 SLE cohort enrollment by mid-2026. Autoimmune initial sites. 14 total clinical sites current
Slide 5: Vision Statement: Resetting the Paradigm - Not just the Patient
Vision Statement: Resetting the Paradigm - Not just the Patient Pioneering the development of truly accessible cell therapies - available on demand - anywhere Unique Living Drugs with Renewable Manufacturing Process Novel Therapy Paradigm Broad Disease Targeting Capability Delivering On-Demand Cell
Slide 6: A Differentiated & Renewable Cell Manufacturing Process
A Differentiated & Renewable Cell Manufacturing Process Fate’s platform uniquely delivers cell therapies on-demand to all patients in need Autologous CAR T Cell Allogeneic CAR T Cell Accessible CAR T Cell • Profound efficacy in difficult-to- • Potential for profound efficacy in • Potential for profo
Slide 7: Immune Modulation Therapeutic Landscape
Immune Modulation Therapeutic Landscape Fate’s preprogrammed CAR T cells deliver potency of a living drug with uniformity of traditional biologics In Vivo T Cell Reprogramming Preprogrammed T cells Protein Engagers Viral Synthetic mAb T cell engager LV AAV NC LNP Limited disease reach through reduce
Slide 8: Unique Platform for Delivery of Off-the-Shelf Cellular Therapies
Unique Platform for Delivery of Off-the-Shelf Cellular Therapies Mass produced, multiplexed-engineered cell products for on-demand patient treatment Induced Single product Clonal Master Cell Stored Drug Treat thousands of pluripotent stem candidate clone Bank (MCB) Inventory patients on-demand cell
Slide 9: Mass Production of Cell Therapy Drug Products
Mass Production of Cell Therapy Drug Products Advanced manufacturing capabilities to provide clinical and early commercial supply State of the Art GMP facility (San Diego, CA, USA) • 40,000+ ft2 Fate cGMP manufacturing facility co-located with corporate headquarters • End-to-end capabilities and con
Slide 10: Cellular Medicines Pipeline
Cellular Medicines Pipeline Making Cell Therapy Accessible to All - 10 -
Slide 11: First-in-Class Product Pipeline
First-in-Class Product Pipeline Multiplexed-engineered, iPSC-derived product candidates Program CAR/Antigen Target Indication Research Preclinical Phase 1 (NCT#) Partner Autoimmunity Systemic Lupus Erythematosus (SLE) FT819-102 Systemic Sclerosis (SSc) FT819-102 FT819 NCT06308978 CD19 Enrolling (RMA
Slide 12: Addressing Diseases with Significant Unmet Clinical Need
Addressing Diseases with Significant Unmet Clinical Need Reaching patients in their communities with an off-the-shelf treatment without lympho-conditioning chemotherapy Autoimmune Disease Oncology Antineutrophilic Idiopathic Systemic Lupus Systemic cytoplasmic anti- Inflammatory HER2+ Pan Tumor Eryt
Slide 13: FT819 Program
FT819 Program CD19 Targeting CAR T-Cell Product Candidate Making Cell Therapy Accessible to All - 13 -
Slide 14: Systemic Lupus Erythematosus (SLE): A Disease of Significant Unmet Need
Systemic Lupus Erythematosus (SLE): A Disease of Significant Unmet Need Chronic disease burden, multi-organ involvement and increased morbidity & mortality High disease burden, disability & organ damage • Typical patient is a women of childbearing age presenting with fatigue, joint pain, rash and sy
Slide 15: FT819: Off-the-Shelf anti-CD19 CAR T-Cell Product Candidate
FT819: Off-the-Shelf anti-CD19 CAR T-Cell Product Candidate Safe and effective targeting of CD19+ B cells with broad patient accessibility True Off-the-Shelf CAR T-Cell Drug Product Derived from a defined clonal MCB incorporating unique functional elements to balance safety and efficacy: CD19 CAR TC
Slide 16: FT819 Provides Rapid and Dose Dependent B Cell Elimination
FT819 Provides Rapid and Dose Dependent B Cell Elimination Relative CD19 CAR T cell activity against SLE patient derived PBMCs show FT819 to be highly potent CAR T-cell Product Uniformity 100 Manufacturing & Engineering Process Influences FT819 demonstrates superior % CD19 CAR 75 expression Product
Slide 17: FT819-102: Phase 1 Study of FT819 in B-cell Mediated Autoimmune Diseases
FT819-102: Phase 1 Study of FT819 in B-cell Mediated Autoimmune Diseases1,2 Uniquely administered with fludarabine-free conditioning or maintenance therapy in the absence of chemotherapy conditioning Stop all immuno suppressive medication Continue MMF/MPA or AZA or MTX Clinical Trial NCT063089782 Hi
Slide 18: FT819-102 Update: Patient baseline characteristics
FT819-102 Update: Ongoing Phase 1 Study of FT819 in B-cell Mediated Autoimmune Diseases1,2 Patient baseline characteristics treated with FT819 as of Nov 25, 2025 data cut off date FT819-102 Patient Cohort Representative of Real-World Patient Characteristics Overall (N=13) Essential Patient Features
Slide 19: FT819-102 Update: Differentiated safety data
FT819-102 Update: Ongoing Phase 1 Study of FT819 in B-cell Mediated Autoimmune Diseases1,2 Continuation of differentiated safety data – select adverse events of interest Continued absence of high-grade CRS, No ICANS, and No DLTs observed in FT819 treated patients with at least 1 month follow up3 Saf
Slide 20: FT819 Treatment Demonstrates Early and Sustained Improvement in SLE disease
FT819 Treatment Demonstrates Early and Sustained Improvement in SLE disease Regimen A: One-time FT819 treatment with less intensive conditioning chemotherapy1,2 Durable (≥18 month) SLE disease remission and complete renal response in LN patients with single dose of FT819 with less intensive conditio
Slide 21: FT819 Elicits Rapid and Deep Depletion of B Cells and Immune Remodeling
FT819 Elicits Rapid and Deep Depletion of B Cells and Immune Remodeling Peripheral blood and tissue residing B cell elimination results in the repopulation of naïve B cell subsets Effective depletion of pathogenic B cell populations & replacement with naïve subsets to normal levels1-3 Regimen A – Do
Slide 22: Sustained Response in SLE Achieved Without Lympho-Conditioning
Sustained Response in SLE Achieved Without Lympho-Conditioning Regimen B: FT819 (DL1) as add-on to maintenance therapy exhibit improvement in disease activity SLEDAI-2K composition scores per patient at baseline (pre-FT819) and at specified study time points1-4 SLEDAI-2K(N=2) PGA (N=2) 20 B1-DL1 20
Slide 23: FT819-102 Summary and Next Steps
FT819-102 Summary and Next Steps ➢ True off-the-shelf CAR T cell, manufactured from a master cell bank, addresses the key challenges faced by autologous and allogenic cellular therapies. ➢ Preliminary data supports durable clinical activity with reduced or no conditioning and potential for combinati
Slide 24: FT825 Program
FT825 Program HER2 Targeting CAR T-Cell Product Candidate Making Cell Therapy Accessible to All - 24 -
Slide 25: Seven-Point Edited HER2-Directed CAR T-Cell Therapy Designed for Enhanced Solid Tumor Efficacy
Seven-Point Edited HER2-Directed CAR T-Cell Therapy Designed for Enhanced Solid Tumor Efficacy FT825/ONO-8250: Off-the-shelf anti-HER2 CAR T-cell product candidate Overcoming the Challenges in Solid Tumors • TCR Null: Complete bi-allelic disruption of TRAC ablates TCR expression and eliminates the p
Slide 26: Novel Cancer-Specific CAR Binder Limits Off Tumor Toxicity
Novel Cancer-Specific CAR Binder Limits Off Tumor Toxicity FT825/ONO-8250 designed for preferential and multi-antigen targeting • Novel binder (H2CasMab-2) preferentially targets HER2 expressed on tumor HER2+++ HER2+ Tumor Tissue Normal Tissue cells with limited on-target off-tumor toxicity Hercepti
Slide 27: FT825/ONO-8250-101: A Phase 1 Study of FT825 in Advanced Solid Tumor
FT825/ONO-8250-101: A Phase 1 Study of FT825 in Advanced Solid Tumor Phase 1 Study: FT825/Ono0825 with/without monoclonal antibody combination (NCT06241456) Clinical Trial NCT062414561 • HER2+ Breast, Gastric, GEJ, Early Clinical Observations Regimen A: HER2Mut NSCLC FT825 Monotherapy • HER2+ saliva
Slide 28: Next Generation CAR T Cells
NEXT GENERATION CAR T CELLS FT836 Program FT839 Program MICA/B Targeting CD19/CD38 Targeting CAR T-Cell Product Candidate CAR T-Cell Product Candidate Making Cell Therapy Accessible to All - 28 -
Slide 29: Engineering a Portfolio of Attributes to Unlock Multi-Disease Therapy Potential
Engineering a Portfolio of Attributes to Unlock Multi-Disease Therapy Potential Integrating modular attribute cell systems to operate & synergize with the patients’ immune system Overcoming Multiple Tumor Challenges Broad Elimination of Pathological Across Diverse Tumors Indications Immune Cell Subs
Slide 30: Sword & Shield Technology Shields from Rejection & Drives Persistence
Sword & ShieldTM Technology Shields from Rejection & Drives Persistence Best-in-class allo-immune evasion system to enhance persistence & eliminate the need for lympho-conditioning Combination with HLA-I & HLA-II HLA-I & HLA-II HLA-I & HLA-II Sword & ShieldTM Strategy Intense CCT Knockout Knockout +
Slide 31: Targeting MICA/B Overcomes Tumor Evasion & Unlocks Pan-Tumor Potential
Targeting MICA/B Overcomes Tumor Evasion & Unlocks Pan-Tumor Potential FT836: Off-the-shelf anti-MICA/B CAR T-cell product candidate Novel recognition of MICA/B α3 domain MICA/B shedding is a common MICA/B is widely expressed across multiple cancer indications5 unlocks pan-tumor recognition1,2 immun
Slide 32: Phase 1 FT836-101 Study in Pan Solid Tumor Open to Enrollment
Phase 1 FT836-101 Study in Pan Solid Tumor Open to Enrollment1 Evaluation of FT836 with/without monoclonal antibody combination with optional Paclitaxel priming (NCT07216105) FT836 Clinical Study Schema FT836: A Highly-Differentiated Therapeutic Approach ➢ Novel cancer antigen targeting system that
Slide 33: CD19/CD38 Co-Targeting Delivers Potent, Multi-Compartment Immune Ablation
CD19/CD38 Co-Targeting Delivers Potent, Multi-Compartment Immune Ablation FT839: Off-the-shelf anti-CD19/CD38 dual CAR T-Cell product candidate B cell lineage and activated immune cell state antigen targeting FT839 eliminates B cells & allo-reactive immune cells3 Data source2 High Target Biology: HS
Slide 34: Upcoming Milestones for Next Generation CAR T Cell Candidates
Upcoming Milestones for Next Generation CAR T Cell Candidates Phase 1 clinical evaluation to commence in 2025 FT836 Product Candidate FT839 Product Candidate Attribute Systems: ➢ IND Cleared Q3 2025 Attribute Systems: ➢ Anticipated IND filing in 2026 ➢ Targeting - ➢ Targeting - • 3MICA/B CAR ➢ Phase
Slide 35: FT522 Program
FT522 Program CD19 CAR NK Cell Product Candidate Making Cell Therapy Accessible to All - 35 -
Slide 36: Multi-Antigen Targeting CAR NK Cell Armed with ADR to Avoid the Need for Conditioning
Multi-Antigen Targeting CAR NK Cell Armed with ADR to Avoid the Need for Conditioning Chemotherapy FT522: Off-the-shelf anti-CD19 CAR NK cell product candidate True Off-the-Shelf Next Gen CAR NK cell Drug Product ADR armed NK Cells Uniquely Able to Proliferate and Persist • 1XX CAR19: Novel CAR with
Slide 37: FT522 Phase 1 Basket Study in Autoimmunity
FT522 Phase 1 Basket Study in Autoimmunity IND cleared: Clinical development strategic planning ongoing No Conditioning; Multiple Indications; Induction and Maintenance Regimens Basket Trial Design AAV = Antineutrophilic cytoplasmic antibody-associated vasculitis IIM = Idiopathic inflammatory myosit
Slide 38: Transforming the Lives of Patients with Autoimmune Diseases and Cancer
TRANSFORMING THE LIVES OF PATIENTS WITH AUTOIMMUNE DISEASES AND CANCER TM Making Cell Therapies Accessible to All October 2025 © 2025 Fate Therapeutics. All rights reserved. www.fatetherapeutics.com - 38 -
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