Avacta : AGM Business Update deck

Annual General Meeting of Shareholders

Avacta Group plc

June 2024

Avacta is evolving in response to recent success:

We have a singular focus

on delivery of novel therapeutics with a reshaped board of directors and new executive management with the right credentials to deliver this innovative portfolio for both patient and shareholder value

REVOLUTIONARY

Approach

ROBUST

Pipeline

INNOVATIVE

R&D team

Avacta leverages a key protease (fibroblast activation protein-α,FAP) in the TME as a tumor-specific release mechanism enabling delivery of potent warheads directly to the TME with clinical POC achieved

The FAP-enabled drug release mechanism is used in small molecule peptide drug conjugates (PDC) and biologic-targetedapproaches in the

pre|CISION™ ADC and Affimer™ -DC(AffDC) programs

The R&D leadership team have >15 years industry experience each, over 40 INDs and drug approvals, with expertise in cancer biology, chemistry, clinical, and business development

© Avacta Group plc 2024

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Annual General Meeting of Shareholders

• Avacta Board of Directors and Management Team Evolution
• Avacta Financial Review and Planning
• Business Updates
• • Therapeutics Strategy Update and Introductions
  • Progress Advancing AVA6000 in the Clinic
  • Avacta Therapeutics Pipeline Evolution
  • Catalysts and Milestones
• Questions and Answers

© Avacta Group plc 2024 (CONFIDENTIAL)

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Avacta Names Shaun Chilton as Chairman of the Board And Darlene Deptula-Hicks as Non-Executive Director

"I'm delighted that Darlene Deptula-Hicks will join the Avacta Board as a Non- Executive. Darlene brings a wealth of financial and commercial experience supporting both public and private biotechnology companies alongside many years' operational experience."

Shaun Chilton, Chairman of the Avacta Board of Directors

Shaun Chilton was recently named as Chairman of the Avacta

Board of Directors

Avacta: The Board of Directors is Evolving to Deliver on the Tx Pipeline

• Chairman: Shaun Chilton
• • An entrepreneurial Chair and CEO who has led listed global platform companies with a track record of consistently delivering strong growth in enterprise value with businesses ranging from low single-digit £m profit through to £120m
• CEO: Christina Coughlin, MD, PhD
• • A biotech executive with deep oncology experience leading drug development programs to approvals and building biotechs with a successful track record in fundraising in both private and public settings
• Chair of Audit Committee: Paul Fry
• • An experienced financial executive with a strong track record in big pharma and going on to hold multiple CFO roles in biotech, private equity backed and FTSE listed life science growth businesses with a successful exit of for £1bn
• Chair of RemCom Committee: Trevor Nicholls
• • Company leader with 40 years experience of building international businesses in the life science industry, with a focus on genomics, pharma, biotech, government and academic clients
• Chair of Science and Technology Committee: Mark Goldberg, MD
• • A seasoned pharma Exec with Board experiences in delivering multiple modalities in oncology including ADC therapeutics as well as deep patient advocacy experience
• Non-ExecutiveDirector: Darlene Deptula-Hicks
• • An entrepreneurial business leader with extensive biotech experience including Pre-IPO/IPO/post-IPO deal experience with deep industry knowledge across life sciences with strong capital markets experience

© Avacta Group plc 2024 (CONFIDENTIAL)	5

The Avacta Leadership Team

Christina Coughlin, MD, PhD

Chief Executive Officer and Head of R&D

Chris is an oncologist and immunologist, trained at the University of Pennsylvania

She has >18 years of industry experience including >30 oncology INDs and approvals across small molecules to cell therapy in oncology

Simon Bennett,	Karen Harrison,	David Jones,
DPhil	MBA	DPhil
Chief Business Officer	Chief Operating Officer	VP and Head of Biology
Simon is a biochemist with	Karen has >30 years'	David trained at the
more than 26 years'	experience in building	University of Birmingham
commercial experience in	successful teams and	in the science of oncology
biopharmaceuticals,	delivering all operational	modeling with expertise in
supporting business	aspects of her teams	both in vitro and in vivo
development and corporate	Karen's focus is on value	modeling of cancer biology
development	creation and global reach	David has worked in models
Simon has been involved in	of companies, delivering	of human disease with more
over 80 commercial deals	transformational operational	than 15 years' industry
across geographies	planning	experience

Francis Wilson,

DPhil

VP and Head of Chemistry

Francis trained in medicinal chemistry at Oxford University

Francis has >30 years' experience in industry with multiple companies and programs advanced across multiple therapeutic areas including the science of biologic- small molecule conjugations

© Avacta Group plc 2024

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Avacta: Scientific Advisory Board

A group of deep subject matter experts brought together to help further define the development strategy for AVA6000 and the pipeline of assets

• William Tap, MD, (Chair), Chief of the Sarcoma Medical Oncology Service at the Memorial Sloan Kettering Cancer Center in New York City, New York
• Robin Jones, MBBS, MRCPD, MD, Professor and Group Leader in Sarcoma Clinical Trials at The Institute of Cancer Research and the Royal Marsden Hospital in London
• Lee Cranmer, MD, PhD, Head of Sarcoma Oncology and Professor of Medicine at the University of Washington and Fred Hutchinson Cancer Center, Seattle, Washington
• Robert Metcalf, MBChB MRCP PhD, Clinician Scientist in Experimental Cancer Medicine and Honorary Consultant in Head and Neck Cancer Oncology and Salivary Gland Cancer Expert at the Christie NHS Foundation Trust
• Alan Ho, MD, PhD, Clinician-Scientist and translational clinical researcher on the head/neck medical oncology service at Memorial Sloan Kettering Cancer Center, New York City
• Andrea Napolitano, M.D., PhD. Consultant Oncologist and Experimental Therapeutics Expert at the Institute for Cancer Research and Royal Marsden Hospital, London
• Anthony Yu, MD, MS, Clinical Onco-Cardiologist specializing in the management of cardio-toxicities of approved and experimental therapeutics, Memorial Sloan Kettering Cancer Center, New York City

© Avacta Group plc 2024 (CONFIDENTIAL)

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Avacta: Developing a Sustainable Funding Strategy

• The global funding environment in biotech continues to be difficult
• • Heights raise provided acquisition funding for Dx platform and financed key developments in Tx platform
  • The UK public markets continues to be very difficult for companies at Avacta's stage of development
  • Some recovery being seen, but primarily in the US which has typically been more supportive of pre-revenue Tx companies
• Avacta will continue to have a significant funding requirement going forward
• • AVA6000 is entering the next stage of development requiring funding of larger Phase 2 and Phase 3 trials for global approvals
  • New exciting pipeline of PDC and AffDC will require additional funds to move to the clinic
• Management is focused on bridging funding gap as far as possible with non-dilutive capital
• • The Company is in a process to realize value for Dx assets - drive to EBITDA +ve in 2024 and engaging with potential acquirers
  • The Company is seeking business development deals in the Therapeutics pipeline with our clinical proof of concept data in hand since April 2024
• Management is also focused on bringing institutional investors into the story, especially from the US, for the medium- and long-term capital needs
• • Clinical data are key to both equity funding as well as commercial deals
  • Management has presence at key global congresses designed to foster collaborations (AACR, ASCO, BIO) and clinical proof of concept for the preCISION platform enables
  • Board and Executive Team with credibility in the eyes of US specialist healthcare investors, who typically support companies at this stage of their evolution

© Avacta Group plc 2024

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Avacta: Combining Two Innovations to Deliver Potent Warheads to the TME

pre|CISION™ technology

The pre|CISION peptide prevents cellular entry of the warhead and is only released in the TME

pre|CISION peptide

The pre|CISION™ platform enables first-in-classpeptide drug conjugates (PDC) that

boost efficacy and minimize off-target toxicity with clinical proof-of-concept

warhead

Affimer® technology

Next-generation biotherapeutic class to surpass the limitations of antibody cancer therapies

Variable loop	Affimers® are a novel class
regions

of biologics, based on the Stefin A protein, with a best-in-classtherapeutic protein binder at 1/10th the size of an mAb

Next-gen pre|CISION ADC therapeutics

Combining the highly tumor-specific release mechanism of pre|CISION with the biologic advantages of an Affimer create a novel class of Affimer Drug Conjugates

© Avacta Group plc 2024

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Cleavage of the pre|CISION Peptide Occurs at FAP+ CAFs and

Concentrates the Warhead in the TME

pre|CISION peptide

Released Warhead (extracellular)

pre|CISION -Enabled Warhead Cannot Enter Cells

FAP

Tumor-specific and membrane- bound protease expressed in the CAF population

Released Warhead

Enters Local FAP+ or FAP- Cells