Arcus Biosciences : Investor Presentation – JP Morgan 2023

COMBINING TO CURE

Arcus is at the forefront of designing precision combinations in the pursuit of cures for patients living with cancer.

1Q23 CORPORATE PRESENTATION

January 9, 2023

Forward-looking Statements/Safe Harbor

This presentation contains forward-looking statements about Arcus Biosciences, Inc. ("we," "Arcus" or the "Company") made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. All statements regarding events or results to occur in the future contained in this presentation are forward-looking statements, including statements about: our strategy, advantages, and expectations, including regarding our productivity and competitiveness; expectation that our cash and investments are sufficient to fund operations into 2026; potential of our investigational products and portfolio; anticipated benefits of our collaborations with Gilead, Taiho and AstraZeneca; expected timing of our clinical and developmental milestones, including clinical trial initiation and clinical readouts; expected timing for our investigational products to be commercially available; possible first to market advantage for any of our investigational products; anticipated marketing or packaging strategies for any of our investigational products. These forward-looking statements are subject to a number of risks, uncertainties and assumptions that may cause actual results to differ materially from those contained in any forward-looking statements we may make, including, but not limited to: risks associated with preliminary or interim clinical data or preclinical data not being guarantees that future data will be similar; the unexpected emergence of adverse events or other undesirable side effects; difficulties or delays in initiating, conducting or completing our clinical trials due to difficulties or delays in the regulatory process, enrolling subjects or manufacturing or supplying product for such clinical trials, all of which may be exacerbated by unfavorable global economic, political and trade conditions; risks associated with our collaboration arrangement with Gilead including our dependence on Gilead for the successful development and commercialization of our investigational products; changes in the competitive landscape; our limited operating history and our ability to manage our growth; risks regarding our license and collaboration agreements and our ability to obtain and maintain intellectual property protection for our product candidates; and the inherent uncertainty associated with pharmaceutical product development and clinical trials.

We operate in a very competitive and rapidly changing environment. New risks emerge from time to time. It is not possible for our management to predict all risks, nor can we assess the impact of all factors on our business or the extent to which any factor, or combination of factors, may cause actual results to differ materially and adversely from those anticipated or implied in the forward-looking statements. Further information on these and other factors that could affect the forward-looking statements made herein are described in our most recent Annual Report on Form 10-K and Quarterly Report on Form 10-Q filed with the U.S. Securities and Exchange Commission.

You should not rely upon forward-looking statements as predictions of future events. Except as required by law, neither we nor any other person assumes responsibility for the accuracy and completeness of the forward-looking statements. We undertake no obligation to update publicly any forward-looking statements for any reason after the date of this presentation to conform these statements to actual results or to changes in our expectations.

The Arcus name and logo are the property of Arcus. All other trademarks used herein are the property of their respective owners and are used for reference purposes only. Such use should not be construed as an endorsement of Arcus.

2	© Arcus Biosciences 2023

Arcus Has Created a Late-stage Portfolio with a Sustainable R&D Engine

$1.2B	Global,	4	Lung (3) & Upper GI (1)
		Phase 3 studies in
in cash, cash equivalents &	late-stage company

marketable securities	6 clinical-stage molecules
Funding into 2026

	2022 Recap	Top tier partners	Productive research
Dom (TIGIT)	Etruma / Quemli		organization
	ARC-7 topline data	(A2R/ CD73)		1-2 new development
	and presentation	 Initiated two new
Initiated two new	Phase 2 studies		candidates a year
	Phase 3 studies	AB521 (HIF-2α)		At least 2 new FIH in 2023:
	Initiated Phase 3
 Completed healthy
	PACIFIC-8 study
	volunteer study		AB598 | AB801 | 1st inflammation candidate
	Completed
	demonstrating
	enrollment of ARC-7	best in class potential

• Initiated Phase 1b study in patients

3

FIH: first in human: GI: gastrointestinal

© Arcus Biosciences 2023

Arcus Has a Broad Portfolio of Molecules with Best-in-Class Potential, Enabling Differentiated Combination Therapies

DIFFERENTIATED SMALL MOLECULES

etrumadenant (AB928): First-in-class dual A2aR / A2bR antagonist; generated early evidence of clinical activity in colorectal, prostate and lung cancers

quemliclustat (AB680): First-in-class small-moleculeCD73 inhibitor; generated early evidence of clinical activity in pancreatic cancer; enrolling new cohorts in lung and GI cancers

AB521: Highly potent and selective HIF-2α inhibitor; a Phase 1/1b in cancer patients are ongoing

DIFFERENTIATED ANTI-TIGIT

+ ANTI-PD-1 BACKBONE

domvanalimab (AB154): Potential best in class anti-TIGITmonoclonal antibody (mAb; Fc silent) - multiple ongoing Phase 2 and 3 studies enrolling

zimberelimab (AB122): Anti-PD-1mAb; approved in China for classical Hodgkin Lymphoma (cHL)*

NEXT-GENERATION PROGRAMS

AB598: Anti-CD39 mAb

AB801: small molecule Axl inhibitor

Undisclosed: Small molecule inhibitor of target involved in inflammation

WORLD-CLASS DRUG DISCOVERY

4	*Gloria Biosciences secured China approval; it holds commercial rights to zim in China and	© Arcus Biosciences 2023
conducts its activities independently	from Arcus

ARC-7 Key Highlights from ASCO Plenary Presentation Dec. 2022

SELECT PFS TAKEAWAYS:

• With median follow-up of 12 months, mPFS was 12.0 months for the doublet (DZ) and 10.9 months for triplet (EDZ) vs. 5.4 months for zim monotherapy
• Doublet PFS HR=0.55; triplet HR=0.65
• Doublet resulted in a longer median PFS than reported for PD-1 or PD-1 + chemo combinations in Phase 3 studies

PRIMARY PROGRESSIVE DISEASE TAKEAWAYS:

• Dom-containingarms resulted in reduction of early primary progressive disease (patients who progress at first scan)
• 5% and 13% for the doublet and triplet, respectively, vs. 25% for zim mono
• Demonstrates potential for an anti-TIGIT + anti-PD-1 combo to displace the use of anti-PD-1 in patients with aggressive disease

SUMMARY:

• Largest and first prospective randomized dataset to date for an anti-TIGIT combination in 1L PD-L1-high NSCLC
• Both dom-containing arms demonstrated clinically meaningful differentiation compared to zim monotherapy across all efficacy measures evaluated
• No unexpected safety signals were observed in both dom-containing arms
• Low rates of immune-related adverse events and infusion-related reactions observed; potential differentiator for domvanalimab

5	dom: domvanalimab; zim: zimberelimab; doublet: dom + zim; triplet: dom + zim + etrumadenant;	© Arcus Biosciences 2023
cORR: confirmed overall response rate; mPFS: median progression-free survival