Aptevo Therapeutics : 09 January Investor Presentation

09 January 2023

Aptevo Therapeutics

Clinical stage immunotherapy company developing cancer therapeutics

NASDAQ: APVO

Forward-Looking Statements

Safe Harbor Statement

This presentation includes forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. All statements, other than statements of historical fact, including, without limitation, Aptevo's expectations about the activity, efficacy and safety of its therapeutic candidates and potential use of any such candidates as therapeutics for treatment of disease, expectations regarding the effectiveness of its ADAPTIR and ADAPTIR-FLEX platforms, whether the APVO436 data presented at the ASH conference will be indicative of later stage clinical trials, statements relating to the progress of Aptevo's clinical programs, including the continued dosing of patients in the Company's Phase 1b expansion program, the potential for a second indication for APVO436 in MDS, statements related to a Phase 2 program initiation for APVO436, the entry of ALG.APV-527 into clinical development, its potential for multiple indications, and the timing for its expected preliminary data, the possibility of meaningful data readouts for ALG.APV-527, the possibility of naming a new pipeline candidate, whether Pfizer can continue to generate RUXIENCE revenue for Aptevo to fully earn 2022 and 2023 milestones, statements related to Aptevo's receipt of payments from Medexus related to IXINITY sales, and any other statements containing the words "may," "believes," "expects," "anticipates," "hopes," "intends," "optimism," "potential," "designed," "engineered," "breakthrough," "innovative," "innovation," "promising," "plans," "forecasts," "estimates," "will" and similar expressions. Investors are, therefore, cautioned not to place undue reliance on any forward-looking statement. These forward- looking statements are based on Aptevo's current intentions, beliefs, and expectations regarding future events. Aptevo cannot guarantee that any forward-looking statement will be accurate. Investors should realize that if underlying assumptions prove inaccurate or unknown risks or uncertainties materialize, actual results could differ materially from Aptevo's expectations.

There are several important factors that could cause Aptevo's actual results to differ materially from those indicated by such forward-looking statements, including a deterioration in Aptevo's business or prospects; further assessment of preliminary data, adverse developments in clinical development, including unexpected safety issues observed during a clinical trial; and changes in regulatory, social, macroeconomics and political conditions. For instance, actual results may differ materially from those indicated by such forward-looking statements as a result of various important factors, including the uncertainties inherent in the results of preliminary data and pre-clinical studies being predictive of the results of later-stage clinical trials, initiation, enrollment and maintenance of patients, and completion of clinical trials, availability and timing of data from ongoing clinical trials, the trial design includes combination therapies that may make it difficult to accurately ascertain the benefits of a product candidate, expectations for the timing and steps required in the regulatory review process, expectations for regulatory approvals, the impact of competitive products, our ability to enter into agreements with strategic partners or raise funds on acceptable terms or at all, and other matters that could affect the availability or commercial potential of the Company's product candidates or business, economic disruptions due to catastrophes or other events, including natural disasters or public health crises such as the coronavirus (referred to as COVID- 19), and geopolitical risks, including the current war between Russian and Ukraine and macroeconomic conditions such as rising inflation and interest rates, increased market volatility and decreased consumer confidence. These risks are not exhaustive. Aptevo faces known and unknown risks. Additional risks and factors that may affect results are set forth in Aptevo's filings with the Securities and Exchange Commission, including its Annual Report on Form 10-K for the fiscal year ended December 31, 2021, and its subsequent quarterly reports on Form 10-Q and current reports on Form 8-K. The foregoing sets forth many, but not all, of the factors that could cause actual results to differ from Aptevo's expectations in any forward-looking statement. Any forward-looking statement speaks only as of the date of this presentation, and, except as required

by law, Aptevo does not assume any obligation to update any forward-looking statement to reflect new information, events, or circumstances. 2

Why Aptevo

APVO436 Efficacy: 100% clinical benefit rate* in Phase 1b trial of relapsed/refractory AML patients.

APVO436 is well tolerated and safe as a single agent and in combination therapy.

APVO436 Phase 2 Trial expected in 2H23 supported by Phase 1b target population data.*

Preliminary data anticipated in 2024.

Phase 1 trial: ALG.APV-527solid tumor trial expected in 1Q23.

Preliminary data anticipated in 2023.

Potential second APVO436 indication in myelodysplastic syndrome (MDS) based on promising, already reported results.

Continued generation of new candidates via proprietary platform technologies.

Announced new pipeline candidate, APVO711, January 2023

*Combination therapy with venetoclax + azacitidine + APVO436, in venetoclax treatment naïve patients.	3

Recent Highlights & Near-Term Plans

Clinical-stage immunotherapy company developing novel therapeutics that benefit patients fighting hematological and solid tumor malignancies

APVO436

100%

Clinical Benefit*

APVO436 Phase 2 Trial Initiation 2H23

ALG.APV-527 Clinical Entry in 2022

Growth Driven by

Proprietary

Platforms

• APVO436 in combination therapy demonstrates 100% clinical benefit rate* in Phase 1b in a heterogeneous poor prognostic acute myeloid leukemia (AML) patient population**
• APVO436 Safety: Combination therapy that includes APVO436 + (standard of care) venetoclax + azacitidine is safe and well tolerated
• Evaluating opportunity to expand APVO436 as monotherapy for the treatment of MDS
• Expansion trial was successful and defined a strategic path for Phase 2 clinical development
• Aptevo plans to initiate a Phase 2 trial evaluating AML patients in combination therapy using venetoclax + azacitidine + APVO436, in venetoclax Treatment Naïve Patients, in 2023
• Aptevo plans to initiate a Phase 1 clinical trial evaluating ALG.APV-527 for the treatment of multiple solid tumors expressing 5T4 in 1Q23
• Preliminary data readout anticipated in 2023
• Pipeline of additional bispecific candidates based on proven ADAPTIR and ADAPTIR-FLEX platform technologies including
• • APVO603 (4-1BB x OX40): Solid tumors
  • APVO442 (PSMA x CD3): Prostate cancer
• Continued generation of new candidates via proprietary platform technologies. Announced new pipeline candidate, APVO711, in January 2023

*Percentage of patients who achieved CR, CRi, MLFS and SD.	4
**Combination therapy with venetoclax + azacitidine + APVO436 in venetoclax treatment naïve patients.

Pipeline Provides Multiple Shots on Goal

Hematologic Cancers

Solid Tumor Cancers

PRODUCT/		POTENTIAL	CLINICAL DEVELOPMENT STAGE
CANDIDATE	TECHNOLOGY
INDICATIONS				Next Milestone(s)
Pre-Clinical	Phase I Phase II Phase III
TARGET
	Redirected				•	New expansion phase
APVO436	T cell	AML/MDS				data reported at ASH
CD3 x CD123	Cytotoxicity			•	Phase 2 program
	(RTCC)					initiation in 2H23
ALG.APV-527*	T cell	Multiple			•	IND cleared
Solid			•	Phase 1 trial
4-1BB x 5T4	Co-Stimulation
		Tumors				initiation 1Q23
APVO603	Dual T cell	Multiple			•	Ongoing IND-
Solid
4-1BB x OX40	Co-Stimulation				enabling studies
Tumors
APVO442	RTCC	Prostate			•	Ongoing pre-clinical
PSMA x CD3	Cancer				studies
	Checkpoint	Multiple			•	Initiated pre-clinical
APVO711	Inhibitor &
Stimulator of	Solid				studies
PD-L1 x CD40
Antigen	Tumors
	Presenting Cells

*Partnered with Alligator Bioscience.

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