Adalta Ltd. · ASX:1AD
Adalta — Shareholder Meeting (November 2025)
25 slides from Adalta's shareholder meeting presentation, Nov 26, 2025
Slide 1: Chair and CEO presentations to AGM
ASX Announcement | 26 November 2025 AdAlta Limited (ASX:1AD) Chair and CEO presentations to AGM AdAlta Limited (ASX:1AD) (“AdAlta” or “the Company”), developer of next generation cell and protein therapeutic products is pleased to attach copies of the Chair remarks and CEO presentation to be made at
Slide 2: For more information
To learn more, please visit: www.adalta.com.au For more information Join our InvestorHub Follow us on LinkedIn Follow us on X (formerly Twitter) For personal use only 2
Slide 3: Chair address to 2025 Annual General Meeting
Chair address to 2025 Annual General Meeting AdAlta is now a year into our transformation journey, foreshadowed at our 2024 AGM. In early 2025 we fully committed to our “East to West” cellular immunotherapy strategy to drive growth in clinical stage assets, while recognising that there remains signi
Slide 4: Commercialising Life Saving Cellular Immunotherapies "East to West"
For personal use only COMMERCIALISING LIFE SAVING CELLULAR IMMUNOTHERAPIES “EAST TO WEST” Tim Oldham, CEO & Managing Director ADALTA LIMITED (ASX:1AD) | AGM PRESENTATION | NOVEMBER 2025 AdAlta Limited (ASX:1AD) | Investor Presentation | November 2025 | 1
Slide 5: Important Notice & Disclaimer
IMPORTANT NOTICE & DISCLAIMER Investment in AdAlta is subject to investment risk, including possible loss of income and capital invested. AdAlta does not guarantee any particular rate of return or performance, nor do they guarantee the repayment of capital. For personal use only This presentation is
Slide 6: AdAlta: Next Generation Cell & Protein Therapeutics
ADALTA: NEXT GENERATION CELL & PROTEIN THERAPEUTICS “East to West” cellular immunotherapy strategy for growth In-license next generation clinical stage assets from Asia, establish For personal use only Western manufacturing and generate clinical data for on-licensing AdAlta is - a clinical stage bio
Slide 7: One Year into Delivery of New Strategy
ONE YEAR INTO DELIVERY OF NEW STRATEGY 2025 in review Looking forward to 2026 • Committed to “East to West” cellular immunotherapy strategy • Fully launch AdCella “East to West” cellular For personal use only • 3 term sheets; 2 still active; robust pipeline immunotherapy powerhouse • First product l
Slide 8: "East to West" Strategy Central to AdAlta's Growth
For personal use only “EAST TO WEST” STRATEGY CENTRAL TO ADALTA’S GROWTH AdCella Pty Ltd, an AdAlta company AdAlta Limited (ASX:1AD) | Investor Presentation | November 2025 | 55
Slide 9: First Pillar of Strategy: CAR-T Revolution
FIRST PILLAR OF STRATEGY: CAR-T REVOLUTION For personal use only Turbo-charging patient’s immune cells to “see” and “kill” cancer CAR-T Living drug, single cell dose, durable, potentially curative Adapted from: https://www.cancer.gov/publications/dictionaries/cancer-terms/def/car-t-cell-therapy AdAl
Slide 10: T Cell Therapy for Solid Cancer: The Next Frontier
T CELL THERAPY FOR SOLID CANCER: THE NEXT FRONTIER FOR CELLULAR IMMUNOTHERAPY Bringing the same hope to solid For personal use only cancer patients requires: 1. Autologous T cells - the Two T cell therapies for 7 FDA-approved CAR-T most potent immune cells solid cancer approved by FDA in therapies 2
Slide 11: Second Pillar of Strategy: Rise of China Biotech
SECOND PILLAR OF STRATEGY: RISE OF CHINA BIOTECH China biotech is now driving global … creating significant pool of highly … but still facing barriers to reach biopharmaceutical innovation …2 innovative CAR-T products … Western patients5 For personal use only Big pharma licensing deals now 30% invol
Slide 12: AdCella's Solution: Becoming a Valuation Multiplier for Asian Partners
ADCELLA’S SOLUTION: BECOMING A VALUATION MULTIPLIER FOR ASIAN PARTNERS For personal use only 3 1. In-license market leading 3 1 assets from Asia (“East”): 3. On-licensing: • Highly differentiated assets • Establish global manufacturing • Low acquisition cost network and on-license to • By financing
Slide 13: AdCella Value Proposition to Stakeholders
ADCELLA VALUE PROPOSITION TO STAKEHOLDERS • First in class asset with demonstrated superior efficacy, acceptable safety over competitive For personal use only targets and modalities • Asset ready for pivotal/registrational studies in first indication Out-licensing partners • Portable manufacturing p
Slide 14: Business System
BUSINESS SYSTEM Low cost asset acquisition, efficient value-adding development, high value exit AdAlta leverages third party financing to create value for shareholders – indicative only For personal use only Larger biopharma companies Ownership – 1st financing conduct late-stage clinical 4. Efficien
Slide 15: Value at Exit: Phase I CAR-T Licensing Transactions
VALUE AT EXIT: PHASE I CAR-T LICENSING TRANSACTIONS Global top 25 oncology pharma companies investing 5y 2y 73 In vivo CAR-T assets at end of 2024 Will be seeking proven in autologous cell therapy (licensing, M&A, CVC) payloads for optimized 72% 44% 5 In vivo CAR-T assets in clinic in 2025 delivery
Slide 16: Example Opportunity: First-in-Class Armoured X-CAR-T
EXAMPLE OPPORTUNITY: FIRST-IN-CLASS ARMOURED X-CAR-T Product #1 Advanced, solid cancer Armoured-X-CAR-T patient: sustained response For personal use only What is the Anti-PD1 secreting CAR-T manufactured using 30h virus to armored-CAR-T product? free process Which cancers Lung, mesothelioma, ovarian
Slide 17: AdCella Spin-out: "East to West" Strategy Summary
ADCELLA SPIN-OUT: “EAST TO WEST” STRATEGY SUMMARY Substantial value inflection potential by bringing “Eastern” cellular For personal use only immunotherapy innovations to “Western” regulated markets Clear growth targets for “East to West” strategy Exclusive focus on T cell therapies for solid cancer
Slide 18: AD-214: A New Approach to Fibrosis
For personal use only AD-214: A NEW APPROACH TO FIBROSIS AVAILABLE FOR PARTNERING AdAlta Limited (ASX:1AD) | Investor Presentation | 15 November 2025 | 15
Slide 19: Monetising Fibrosis Disease Drug Candidate AD-214
MONETISING FIBROSIS DISEASE DRUG CANDIDATE AD-214 Investment to date has built strong value proposition Key Priority: Seek out-licensing or third-party investment to For personal use only unlock next level of value First in class molecule targeting established mode ✓ Competitively positioned as only
Slide 20: Pharma Companies Value IPF/Fibrosis Assets
PHARMA COMPANIES VALUE IPF/FIBROSIS ASSETS Upfront payment to Contingent Clinical Phase at Date Licensor/target Licensee/acquirer Transaction licensor milestones transaction For personal use only Aug-22 License US$100m US$600m 2 complete Apr-20 Acquisition US$45m Not disclosed 2a complete Nov-19 Acq
Slide 21: WD-34 i-body: A Potential Breakthrough in Malaria
For personal use only WD-34 I-BODY: A POTENTIAL BREAKTHROUGH IN MALARIA AVAILABLE FOR PARTNERING AdAlta Limited (ASX:1AD) | Investor Presentation | 18 November 2025 | 18
Slide 22: World First Pan-Species High Potency Anti-Malarial
WORLD FIRST PAN-SPECIES HIGH POTENCY ANTI-MALARIAL WD-34 i-body has potential to transform malaria treatment Strategy: seeking non-dilutive and commercial For personal use only ✓ 247 million cases, 619,000 deaths in 20211 partners to advance outside AdAlta Malaria remains a ✓ Re-emerging in US and E
Slide 23: Corporate Information
For personal use only CORPORATE INFORMATION AdAlta Limited (ASX:1AD) | Investor Presentation | 20 November 2025 | 20
Slide 24: Transaction-Based Growth Strategy: Unrealised Option Value
TRANSACTION-BASED GROWTH STRATEGY: UNREALISED OPTION VALUE For personal use only “East to West” cellular Exclusive position on first two Experienced team and accessible immunotherapy growth strategy assets for the “East to West” clinical global network ready to execute a positioned for growth levera
Slide 25: For More Information Please Contact
For personal use only FOR MORE INFORMATION PLEASE CONTACT: TIM OLDHAM CEO & MANAGING DIRECTOR +61 403 446 665 [email protected] [email protected] WWW.ADALTA.COM.AU AdAlta Limited (ASX:1AD) | Investor Presentation | November 2025 | 22