Slide 1: Corporate Presentation May 2026
Corporate Presentation May 2026 GENERATIVE AI DRUG CREATION CONFIDENTIAL AND PROPRIETARY | COPYRIGHT © 2026 ABSCI CORPORATION | ALL RIGHTS RESERVED
Slide 2: Disclaimers
Disclaimers F O R W A R D - L O O K I N G S T A T E M E N T S Statements contained in this press release regarding matters that are not historical facts are “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Because such statements are subject to
Slide 3: From Code to Clinic
AI NATIVE PLATFORM1. DIFFERENTIATED PIPELINE2. From Code to Clinic CONFIDENTIAL AND PROPRIETARY | COPYRIGHT © 2026 ABSCI CORPORATION | ALL RIGHTS RESERVED 3 A B S C I | I N T R O o Interdisciplinary Team with 10+ approved drugs and AI expertise o Integrated Lab-in-the-Loop leveraging 77k ft² automat
Slide 4: Industrializing Drug Discovery
Industrializing Drug Discovery INCREASING ‘SHOTS-ON GOAL’ WITH FASTER AND CAPITAL EFFICIENT DISCOVERY $10-15mil (Absci) $50-100mil (Large Pharma) 24 Months (Absci) 5-6 years (Large Pharma) C A P IT A L IN V E S T M E N T D IS C O V E R Y T IM E L IN E DELIVERING 3 CLINICAL- STAGE PROGRAMS TO DATE 1
Slide 5: Next-Gen Pipeline
*or equivalent ex-US filing N E X T - G E N P I P E L I N E COPYRIGHT © 2026 ABSCI CORPORATION | ALL RIGHTS RESERVED 5 P I P E L I N E T H E R A P E U T I C A R E A T A R G E T I D L E A D I D C A N D I D A T E I D I N D - E N A B L I N G P H A S E 1 P H A S E 2 A B S - 2 0 1 Androgenetic Alopecia (
Slide 6: ABS-201 has the potential to unlock a wholly new category of therapy in hair re-growth
ABS-201 has the potential to unlock a wholly new category of therapy in hair “re-growth” Significant clinical and commercial unmet need in androgenetic alopecia1. Strong scientific rationale, with validated target, de-risked Mode of Action, and pharmacology2. 3. COPYRIGHT© 2026 ABSCI CORPORATION | A
Slide 7: AGA: Underserved patient population looking for therapeutic innovation
COPYRIGHT © 2026 ABSCI CORPORATION | ALL RIGHTS RESERVED 7 A B S - 2 0 1 A G A Underserved patient population looking for therapeutic innovation ~80 million Americans live with androgenetic alopecia (AGA) FEMALE AGA ~30M women in the U.S. Only 1 FDA approved drug therapy for women ~50M men in the U.
Slide 8: PRLR inhibition for androgenetic alopecia is an innovative alternative
8 A B S - 2 0 1 | A G A PRLR inhibition for androgenetic alopecia is an innovative alternative to current treatment options P R O P O S E D D I R E C T I M P A C T O F A B S - 2 0 1 O N H A I R C Y C L E S T A G E S Telogen Resting Phase Hair falls out Catagen ↑↑ Apoptosis & Regression 2-4 weeks Ana
Slide 9: Prolactin impacts on organ-cultured human hair follicles
COPYRIGHT © 2026 ABSCI CORPORATION | ALL RIGHTS RESERVED 9 A B S - 2 0 1 A G A Prolactin impacts on organ-cultured human hair follicles Prolactin prematurely induces a catagen-like stage in organ-cultured human hair follicles1 characterized by: Vehicle 400 ng/ml prolactin Catagen IIIAnagen VI HS M D
Slide 10: PRLR inhibition anticipated to be safe & well tolerated as supported by human genetics
COPYRIGHT © 2026 ABSCI CORPORATION | ALL RIGHTS RESERVED 10 A B S - 2 0 1 A G A PRLR inhibition anticipated to be safe & well tolerated as supported by human genetics I. II. III. NV = Nonvariant ND = Not determined I. II. III. I. II. III. IV. Kobayashi, 2018 NEJM Moriwaki, 2021 JCEM Newey & Phil , 2
Slide 11: Terminal hair count in primate model
11 A B S 2 0 1 | A G A Terminal hair count ”Thick Hairs” in prior bald areas o Hair regrowth observed for both male and female animals (>100 hairs/cm2 increase in bald area at week 28 of treatment*) # T hi ck H ai rs Time (w) 20 0 100 0 25 0 150 50 30 0 4 8 12 16 20 24 A S S E S S M E N T A R E A =
Slide 12: ABS-201 shows superior efficacy vs 5% topical minoxidil
COPYRIGHT © 2026 ABSCI CORPORATION | ALL RIGHTS RESERVED 12 A B S - 2 0 1 A G A ABS-201 shows superior efficacy vs 5% topical minoxidil in 21d hair regrowth model Administration: mAbs i.p. biweekly; Minoxidil topical daily ABS-201 vs minoxidil/untreated/isotype **p<0.05; ***p<0.0001 - 2way ANOVA Hai
Slide 13: NHP PK data confirms extended half-life profile and high SC bioavailability
COPYRIGHT © 2026 ABSCI CORPORATION | ALL RIGHTS RESERVED 13 A B S - 2 0 1 A G A 56 Day NHP PK data confirms extended half-life profile and high SC bioavailability 0 20 40 60 10 2 10 3 10 4 10 5 10 6 10 7 Single Dose Comparative PK Profile in NHPs Time (d) m Ab s er um c on c (n g/ m l) ABS-201 100mg
Slide 14: Modelling shows superiority of ABS-201 vs HMI-115 on PK & Receptor Occupancy
COPYRIGHT © 2026 ABSCI CORPORATION | ALL RIGHTS RESERVED 14 A B S - 2 0 1 A G A Modelling shows superiority of ABS-201 vs HMI-115 on PK & Receptor Occupancy >3x extended half-life in NHPs predicted to translate in humans to Q8W-Q12W dosing intervals PK profile predicted to translate into higher inte
Slide 15: ABS-201 in human ex vivo culture study supports MOA
COPYRIGHT © 2026 ABSCI CORPORATION | ALL RIGHTS RESERVED 15 A B S - 2 0 1 | A G A ABS-201 in human ex vivo culture study supports MOA in human scalp follicles ABS-201 significantly prolongs anagen/inhibits catagen and stimulates hair matrix proliferation Anagen Early Catagen Mid Catagen lgG Ctrl ABS
Slide 16: Additional ABS-201 ex vivo study findings
COPYRIGHT © 2026 ABSCI CORPORATION | ALL RIGHTS RESERVED 16 A B S - 2 0 1 | A G A Additional ABS-201 ex vivo study found: o Prolonging anagen phase and blocking catagen, thereby inhibiting telogen effluvium o Protecting and promoting hair follicle stem cells and and restoring CD34+ progenitor cells
Slide 17: Phase 1/2a trial designed to provide readouts on safety, tolerability, and PoC in AGA
Phase 1/2a trial designed to provide readouts on safety, tolerability, and PoC in AGA Design Elements: o Double-Blind, Placebo-controlled, FIH o Multi-site study in Australia o Dose range ensures predicted >90% RO Population: o Up to 227 male & female healthy participants o SAD; n= 32 healthy volunt
Slide 18: ABS-201 TPP aims to offer a new treatment category in AGA
A B S - 2 0 1 | A G A COPYRIGHT © 2026 ABSCI CORPORATION | ALL RIGHTS RESERVED 18 ABS-201 TPP aims to offer a new treatment category in AGA based on efficacy and convenience 0 10 20 30 40 50 60 70 80 Ef fic ac y (t er m in al h ai rs /c m 2) Topical Minoxidil Oral Minoxidil Finasteride PRP Transplan
Slide 19: Consumer Research Validates Market Potential of ABS-201
Consumer Research Commissioned by Absci Validates Market Potential of ABS-201 Significant Unmet Need: Driven by psycho-social impacts (loss of confidence, self- esteem) from AGA Strong Commercial Demand: Nearly all men and roughly 90% of women are inclined to ask their doctors about ABS-201 High Val
Slide 20: Patient Funnel and Estimated TAM
5-9M Pts Treated/Year Assuming 2-3 Year Durability Patient Funnel >$25B E S T I M A T E D U . S . T A M >$40B P O T E N T I A L G L O B A L T A M Total AGA pts in the US 50M male, 30M female Income ≥$75K (US Census) Pts 17-69 yo Concerned / motivated about hair loss Strong interest in TPP Strongest
Slide 21: Development of ABS-201 in Endometriosis Addresses Long-standing Unmet Medical Need
Development of ABS-201 in Endometriosis Addresses Long-standing Unmet Medical Need and Poor standard of care 1. Large, untapped market offers significant upside potential 2. Strong Biological And Clinical Rationale: Including POC for PRLR mechanism in humans 3. COPYRIGHT© 2026 ABSCI CORPORATION | AL
Slide 22: Hormonal therapies and surgical intervention make up the treatment paradigm for Endo
COPYRIGHT © 2026 ABSCI CORPORATION | ALL RIGHTS RESERVED 22 A B S - 2 0 1 | E N D O M E T R I O S I S Hormonal therapies and surgical intervention make up the treatment paradigm for Endo • Endo is a chronic condition with currently no medical or surgical cure • Roughly, 75% of patients are estimated
Slide 23: Pain remains a persistent, chronic issue for women with endometriosis
COPYRIGHT © 2026 ABSCI CORPORATION | ALL RIGHTS RESERVED 23 Pain remains a persistent, chronic issue for women with endometriosis A B S - 2 0 1 E N D O Illustrative Endometrial Patient Journeys First Period Desire to Conceive Perimenopause PMID 40323608, PMID 17498711, ARTEMIS 2024 Report Patients w
Slide 24: PRLR antagonism is a novel and differentiated MoA in Endometriosis
o Endometriotic lesions produce prolactin under estrogen/progesterone control. o Excess prolactin promotes lesion growth and sensitizes pain-sensing nerves, contributing to chronic pelvic pain. o Prolactin signaling is independent of sex-hormone pathways, offering a differentiated, non-hormonal trea
Slide 25: Prolactin receptor in human endometrium
COPYRIGHT © 2026 ABSCI CORPORATION | ALL RIGHTS RESERVED 25 A B S - 2 0 1 E N D O Localization And Temporal Expression Of Prolactin Receptor In Human Endometrium PRL and PRLR increase during secretory phase in healthy tissue, and is overexpressed in endometrium of patients with endometriosis Me = me
Slide 26: Prolactin Regulates Pain Responses via a Female-Selective Nociceptor-Specific Mechanism
COPYRIGHT © 2026 ABSCI CORPORATION | ALL RIGHTS RESERVED 26 A B S - 2 0 1 E N D O Prolactin Regulates Pain Responses via a Female- Selective Nociceptor-Specific Mechanism PRLR antagonism suppresses postoperative pain in female mice and inhibits endometriosis interna formation The Effects of Prolacti
Slide 27: PRLR antagonism reduces lesion formation and pain in endometriosis mouse model
PRLR antagonism reduces lesion formation and pain in endometriosis mouse model 27 A B S - 2 0 1 | E N D O M E T R I O S I S COPYRIGHT© 2026 ABSCI CORPORATION | ALL RIGHTS RESERVED * 1 2 3 4 5 0 * * *D is ea se S co re Control Graft + danazol + faslodex + cetrorelix Prolactin Antagonist Antibody Prol
Slide 28: ABS-201: a potentially differentiated profile targeting a large underserved market
COPYRIGHT © 2026 ABSCI CORPORATION | ALL RIGHTS RESERVED 28 >$4.5B at peak sales Potential to generate A B S - 2 0 1 | E N D O M E T R I O S I S ABS-201: a potentially differentiated profile targeting a large underserved market opportunity NOVEL TREATMENT OPTION FOR ~9M PATIENTS IN THE U.S. ALONE WI
Slide 29: Leading AI x Bio platform driving Phase readouts in the next 24 months
Leading AI x Bio platform driving 2 Phase 2 readouts in the next 24 months COPYRIGHT © 2026 ABSCI CORPORATION | ALL RIGHTS RESERVED 29 C A T A L Y S T S ABS-201 in AGA o Ph1/2a Study initiated Dec 2025 o Safety, Tolerability, and PK readout expected 1H 2026 o Interim PoC Readout – anticipated 2H 202
Slide 30: Powered by Absci's Leading AI Platform
CONFIDENTIAL AND PROPRIETARY | COPYRIGHT © 2026 ABSCI CORPORATION | ALL RIGHTS RESERVED 30PYRIGH © 2026 ABSCI CORPORATION | ALL RIGHTS RE ERVED Powered by Absci’s Leading AI Platform
Slide 31: De novo AI models deliver differentiated lead candidates against challenging targets
31COPYRIGHT© 2026 ABSCI CORPORATION | ALL RIGHTS RESERVED A B S C I | A I P L A T F O R M Absci's de novo AI models deliver differentiated lead candidates against challenging targets *May include one week of AI lead optimization • Address challenging targets – Only target structure or sequence requi
Slide 32: We use AI to create novel & differentiated therapeutics
COPYRIGHT © 2026 ABSCI CORPORATION | ALL RIGHTS RESERVED 32 D E N O V O D E S I G N We use AI to create novel & differentiated therapeutics ENABLING FEATURES: MULTI-VALENCY, pH-DEPENDENT BINDING ABILITY TO ADDRESS DIFFICULT TARGET CLASSES, E.G. GPCRS EPITOPE-SPECIFIC DESIGN + EPITOPE INTERFACE OPTIM
Slide 33: Experimentally validated AI technology enabling de novo antibody design
COPYRIGHT © 2026 ABSCI CORPORATION | ALL RIGHTS RESERVED 33 We create experimentally validated AI technology that enables de novo antibody design A I P L A T F O R M Antibody Design (AbsciDesign) Library Design Wet Lab Validation (1) Generate antibody structures and sequences. (2) Filter designs tow
Slide 34: AI models design and optimize therapeutic antibodies
34COPYRIGHT© 2026 ABSCI CORPORATION | ALL RIGHTS RESERVED A B S C I | A I P L A T F O R M 1. Target structure(s) 2.Epitope(s) 3.Antibody framework(s) 4.CDR lengths CDR = Complementarity Determining Region H = Heavy Chain; L = Light Chain Design 1 HCDR1: GFNIKDTY HCDR2: IYPTNGYT HCDR3: SRWGGDGFYAMDY
Slide 35: Lab-in-the-loop ensures AI-designed antibodies translate into drug-ready candidates
35COPYRIGHT© 2026 ABSCI CORPORATION | ALL RIGHTS RESERVED A B S C I | A I P L A T F O R M Lab-in-the-loop ensures AI-designed antibodies translate into drug- ready candidates Ideal Drug Candidates Easy to produce Good physico- chemical behavior Stable High Affinity Functional validation • Screening
Slide 36: Introducing Origin-1: an AI platform for de novo antibody design
36COPYRIGHT© 2026 ABSCI CORPORATION | ALL RIGHTS RESERVED Introducing Origin-1: an AI platform for de novo antibody design against zero-prior epitopes Zero-Prior Epitope Targeting Designed full-length mAbs against epitopes with no known protein binders or structural data in <100 designs per target H
Slide 37: De novo AI models deliver differentiated lead candidates against challenging targets
37COPYRIGHT© 2026 ABSCI CORPORATION | ALL RIGHTS RESERVED A B S C I | A I P L A T F O R M Absci’s de novo AI models deliver differentiated lead candidates against challenging targets DE NOVO ANTIBODY DESIGN AGAINST TRANSMEMBRANE TARGET EPITOPE WITH NO KNOWN BINDER Designed seven high-affinity antibo
Slide 38: High-fidelity datasets with our own AI models enrich for developable candidates
38COPYRIGHT© 2026 ABSCI CORPORATION | ALL RIGHTS RESERVED A B S C I | A I P L A T F O R M We use high-fidelity, customized datasets with our own AI models to enrich for developable candidates Lab-in-the-loop synergy provides strong model performance out to >1018 combinatorial space* Generates divers
Slide 39: Success in AI-design and optimization of developability and pharmacological properties
39COPYRIGHT© 2026 ABSCI CORPORATION | ALL RIGHTS RESERVED A B S C I | A I P L A T F O R M Success in AI-design and optimization of multiple developability and pharmacological properties CROSS-SPECIES OPTIMIZATION Successful design of antibodies binding to both mouse and human antigens • Hits identif
Slide 40: Track record of industry-leading partnerships
Track record of industry-leading partnerships A I D R U G C R E A T I O N ™ P A R T N E R S H I P S O U R P A R T N E R S H I P F O C U S 25+ PARTNERED PROGRAMS TO DATE • Challenging Targets / Epitopes • Differentiated TPPs • Mono or Multi-specific Formats A B S C I | P A R T N E R S H I P S U P P O
Slide 41: Multilingual team with expertise in AI and drug creation
”Multilingual” team with expertise in AI and drug creation COPYRIGHT © 2026 ABSCI CORPORATION | ALL RIGHTS RESERVED 41 T E A M Sean McClain Founder, CEO & Board Director Zach Jonasson, PhD Chief Financial Officer & Chief Business Officer Shelby Walker, JD Chief Legal Officer Christine Lemke SVP, Por
Slide 42: Absci at a Glance
42 140 E M P L O Y E E S Biologics drug discovery expertise from: “Multi-lingual” AI + Drug Discovery expertise AI team drawing on experience from tech leaders: 77,000 S Q U A R E F E E T o State-of-the-art wet and dry lab in Vancouver WA o Absci AI Research (AAIR) lab in NYC o Innovation Centre in
Slide 43: Generative AI Re(Generative) Biology
Generative AI Re(Generative) Biology A B S C I C O R P O R A T I O N 2 0 2 6 A L L R I G H T S R E S E R V E D
Slide 44: AI Case Study I: de novo design of an antibody that binds the Caldera region of HIV-1 trimer
44C O P Y R I G H T © 2 0 2 6 A B S C I C O R P O R A T I O N . A L L R I G H T S R E S E R V E D . A I C A S E S T U D Y I de novo design of an antibody that binds the Caldera region of HIV-1 trimer
Slide 45: No natural or synthetic antibody for HIV exists today
COPYRIGHT © 2026 ABSCI CORPORATION | ALL RIGHTS RESERVED 45 No natural or synthetic antibody for HIV exists today because immune system cannot derive an antibody that is universally neutralizing against HIV Design challenge: create universally neutralizing HIV antibody by binding unique and conserve
Slide 46: HIV-Caldera: Determine inputs and design
COPYRIGHT © 2026 ABSCI CORPORATION | ALL RIGHTS RESERVED 46 D e n o v o d e s i g n HIV-Caldera: Determine inputs and design HIV Env Trimer Challenge : • Highly glycosylated • Extremely high sequence diversity among isolates • High mutation rate at common neutralizing epitopes Model inputs: 1. Antig
Slide 47: Best structures selected from 10,000+ structures generated by de novo model
COPYRIGHT © 2026 ABSCI CORPORATION | ALL RIGHTS RESERVED 47 D E N O V O D E S I G N 4 best structures selected from 10,000+ structures generated by de novo model 17b Structure S1 HCDR3 Structure S3 HCDR3 Structure S2 HCDR3 Structure S4 HCDR3 HeavyLight
Slide 48: Applied molecular dynamics simulation to de novo designed antibodies
COPYRIGHT © 2026 ABSCI CORPORATION | ALL RIGHTS RESERVED 48 2024 20252024 2025 2026 Applied molecular dynamics simulation to de novo designed antibodies C A S E S T U D Y # 1
Slide 49: Enriched de novo library binds open, not closed, Env trimer
COPYRIGHT © 2026 ABSCI CORPORATION | ALL RIGHTS RESERVED 49 H A ta g Antigen Clade A Env trimer Closed Open Enriched de novo library binds open, not closed, Env trimer conformation in YSD Closed Open Clade B Env trimer D E N O V O D E S I G N
Slide 50: SPR data demonstrate binding characteristics consistent with binding of caldera
COPYRIGHT © 2026 ABSCI CORPORATION | ALL RIGHTS RESERVED 50 D E N O V O D E S I G N SPR data demonstrate binding characteristics consistent with binding of caldera
Slide 51: HIV-Caldera: SPR demonstrates no binding of de novo designs to GP120 monomer
COPYRIGHT © 2026 ABSCI CORPORATION | ALL RIGHTS RESERVED 51 HIV-Caldera: SPR demonstrates no binding of de novo designs to GP120 monomer Hypothesis: If the designed mAbs are binding to the caldera region we should not observe binding to monomeric GP120 since the caldera is only present in the Env tr
Slide 52: HIV-Caldera: demonstrating AI de novo design for challenging target
COPYRIGHT © 2026 ABSCI CORPORATION | ALL RIGHTS RESERVED 52 HIV-Caldera: demonstrating AI de novo design for challenging target SUMMARY de novo design model created a novel and diverse antibody which binds multiple clades of HIV indicating successful targeting of the caldera epitope Screening cascad
Slide 53: AI Case Study II: AI Optimization for pH sensitivity
53C O P Y R I G H T © 2 0 2 6 A B S C I C O R P O R A T I O N . A L L R I G H T S R E S E R V E D . AI CASE STUDY I I A I O p t i m i z a t i o n f o r p H s e n s i t i v i t y
Slide 54: AI lead optimization platform for 'smart biologics'
AI lead optimization platform for ‘smart biologics’ COPYRIGHT© 2026 ABSCI CORPORATION | ALL RIGHTS RESERVED 54 C A S E S T U D Y # 2 The Challenge The diversity of antibodies is vast, making it impossible for traditional methods to explore effectively. Absci Solution Our AI can search a space of ~10
Slide 55: pH sensitivity may reduce toxicity and/or improve efficacy of therapeutic mAbs
pH sensitivity may reduce toxicity and/or improve efficacy of therapeutic mAbs COPYRIGHT© 2026 ABSCI CORPORATION | ALL RIGHTS RESERVED 55 C A S E S T U D Y # 2 Tumor specificity improves efficacy and reduces ”on-target off-tumor” toxicities Binding occurs in the acidic pH of the tumor microenvironme
Slide 56: Models identify pH sensitive Fab variants from the same lead for either indication
Models identify pH sensitive Fab variants from the same lead for either indication COPYRIGHT© 2026 ABSCI CORPORATION | ALL RIGHTS RESERVED 56 C A S E S T U D Y # 2 1. Library for model training sampled 60 positions on heavy chain framework and CDRs with up to 7 substitutions biased for ionizable res
Slide 57: Hits reformatted as mAbs show desired binding profiles
COPYRIGHT © 2026 ABSCI CORPORATION | ALL RIGHTS RESERVED 2024 20252024 2025 2026 Hits reformatted as mAbs show desired binding profiles SUMMARY AI optimized leads achieves variants with pH sensitive binding up to 100x differential pH-sensitive leads had no liabilities for stability, aggregation and
Slide 58: Summarized platform case studies
COPYRIGHT © 2026 ABSCI CORPORATION | ALL RIGHTS RESERVED 58 Summarized platform case studies C A S E S T U D I E S de novo Design de novo design model created molecule binds multiple clades of HIV suggesting successful targeting of the caldera epitope Represents second disclosed target success for o