August 15, 2023

Second Quarter 2023
Financial Results &Corporate Update
This presentation is for investor relations purposes only - Not for product promotional purposes1Forward-looking Statements
This presentation has been prepared by Legend Biotech Corporation (“Legend Biotech” or the “Company”) solely for information purpose and does not contain all relevant information relating tothe Company.
The safety and efficacy of the agents and/or uses under investigation discussed in this presentation have not been established, except to the extent specifically provided by marketing
authorizations previously received from relevant health authorities. Further, for investigational agents and/or uses, the Company cannot guarantee health authority approval or that such agents
and/or uses will become commercially available in any country.
Certain information contained in this presentation and statements made orally during this presentation relate to or are based on studies, publications, surveys and other data obtained fromthird-party sources and Legend Biotech's own internal estimates and research. While Legend Biotech believes these third-party sources to be reliable as of the date of this presentation, it has
not independently verified, and makes no representation as to the adequacy, fairness, accuracy or completeness of, any information obtained from third-party sources. While Legend Biotech
believes its internal research is reliable, such research has not been verified by any independent source.
Statements in this presentation about future expectations, plans and prospects, as well as any other statements regarding matters that are not historical facts, constitute “forward-lookingstatements” within the meaning of The Private Securities Litigation Reform Act of 1995.
These statements include, but are not limited to, statements relating to Legend Biotech’s strategies and objectives; statements relating to CARVYKTI®, including Legend Biotech’s expectations
for CARVYKTI®; and statements about regulatory submissions for CARVYKTI®, and the progress of such submissions with the FDA, the EMA and other regulatory authorities; and expected
results of clinical trials; Legend Biotech’s expectations on advancing their pipeline and product portfolio; and the potential benefits of Legend Biotech’s product candidates. The words“anticipate,” “believe,” “continue,” “could,” “estimate,” “expect,” “intend,” “may,” “plan,” “potential,” “predict,” “project,” “should,” “target,” “will,” “would” and similar expressions are intended toidentify forward- looking statements, although not all forward-looking statements contain these identifying words. Actual results may differ materially from those indicated by such forwardlooking statements as a result of various important factors. Legend Biotech’s expectations could be affected by, among other things, uncertainties involved in the development of newpharmaceutical products; unexpected clinical trial results, including as a result of additional analysis of existing clinical data or unexpected new clinical data; unexpected regulatory actions ordelays, including requests for additional safety and/or efficacy data or analysis of data, or government regulation generally; unexpected delays as a result of actions undertaken, or failures toact, by our third party partners; uncertainties arising from challenges to Legend Biotech’s patent or other proprietary intellectual property protection, including the uncertainties involved in theU.S. litigation process; competition in general; government, industry, and general product pricing and other political pressures; the duration and severity of the COVID-19 pandemic andgovernmental and regulatory measures implemented in response to the evolving situation; as well as the other factors discussed in the “Risk Factors” section of Legend Biotech’s Annual Reporton Form 20-F filed with the Securities and Exchange Commission (SEC) on March 30, 2023 and Legend Biotech’s other filings with the SEC.
Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those described in this presentation asanticipated, believed, estimated or expected. Any forward-looking statements contained in this presentation speak only as of the date of this presentation. Legend Biotech specifically disclaims
any obligation to update any forward-looking statement, whether as a result of new information, future events or otherwise.
2

This presentation is for investor relations purposes only - Not for product promotional purposes

Agenda3

This presentation is for investor relations purposes only - Not for product promotional purposes

1Opening Remarks

2

Q2 2023 Performance Overview

3

CARTITUDE Clinical Development Program Update

4

Pipeline Progress

5

Financial Performance6

Outlook: 2023 and Beyond

7

Q&AOpening Remarks

4

Ying Huang

Lori Macomber

Chief Executive Officer

Chief Financial Officer

This presentation is for investor relations purposes only - Not for product promotional purposes

Q2 2023 Performance
CARVYKTI® NET SALES ($MM)

EPS

Q2 2023

Q/Q
ChangeY/Y Change

U.S.

114

63%

375%

Ex-U.S.

350%

Global11763%

Q2 2023

Q2 2022

Y/Y Change

-0.57

-0.62

-8%

N/A

1H 2023

1H 2022

Y/Y Change

388%

-0.91

-0.73

25%

Q2 2023 and Recent Highlights (order)

TOTAL REVENUE ($MM)

Submissions made to U.S. and EU regulatory agencies to expand indication→ CARTITUDE-4 data presented at ASCO, EHA and published in NEJM
demonstrating improvement over SOC in 2-4L MM→ FDA granted orphan drug designation for LB2102 (DLL-3) for small cell lungcancer→ Continued expansion of clinical capacity for cilta-cel with Novartis agreement;
addition of treatment sites; improved efficiencies→ Under the Janssen agreement, a milestone payment of $15 million was received
at the acceptance of the regulatory submission for CARVYKTI® by EMA and amilestone of $20 million was earned at its acceptance by the FDA→ Cash and cash equivalents, time deposits, and short-term investments of $1.5billion; recent financings extend cash runway through 2025
→5Q2 2023

Q2 2022

Y/Y Change$73$12513%

1H 2023

1H 2022

Y/Y Change$110$6277%

This presentation is for investor relations purposes only - Not for product promotional purposesUpdated Clinical Profile for Cilta-cel from ASCO 2023
LEGEND-2a

CARTITUDE-1

CARTITUDE-4Intent-to-treat (n=208)b

CARTITUDE-4As-Treated (n=176)bMedian number of prior LOT

3622Median follow-up (mo)65361616ORR

88%

98%

85%99%

≥CR

73%

83%

73%

86%

12mo PFS

~70%c

76%

76%

90%

mPFS (mo)1835

NRdNRdOS (mo)

56

NR

NR

NR

DOR (mo)

2334

NR

NR

CRS Gr3+

10%

5%

-1%

Neurotoxicity Gr3+

0%

11%

-3%

ICANS Gr3+0%

2%

-0%

Efficacy

SafetyaStudy investigating LCAR-B38M, a similar CAR construct to cilta-cel.
bIn the CARTITUDE-4 study, 419 patients were randomized, with 208 patients in the cilta-cel arm and 211 patients in the SOC

6arm. Among intent-to-treat (ITT) patients (n=208), 32 did not receive cilta-cel as study tx due to disease progression or death
during bridging therapy/lymphodepletion and 176 patients received cilta-cel as study treatment and were assessed for CAR-T
related toxicities.
cEstimated from Figure 2a, Zhao W-H et al., J Hematol. Oncol. 2018, https://www.ncbi.nlm.nih.gov/pmc/articles/PMC6302465/
dThe primary endpoint of the CARTITUDE-4 study is progression-free survival (PFS).

OS – Overall survival
LOT – Lines of therapy
DOR – Duration of response
ORR – Overall response rate
CRS - Cytopenia release syndrome Grade 3+
CR – Complete response
PFS – Progression-free survival ICANS - Immune effector cell-associatedneurotoxicity syndrome
This presentation is for investor relations purposes only - Not for product promotional purposesNear-Term Label Expansion Potential: Cilta-cel
Submissions Were Accepted by U.S. FDA and EMA for Expanded Use of CARVYKTI®

Heavily Pre-Treated for Multiple Myeloma

Earlier Lines for Multiple Myeloma

CILTA-CEL HOLDS POTENTIAL TO TRANSFORM MM TREATMENT PARADIGM→→→→

Approved by the U.S. FDA for the treatment of 5L+ MM in Feb. 2022→

Granted conditional marketing authorization by the European
Commission for 4L+ MM in May 2022→

Approved by Japan’s MHLW for 4L+ MM in Sep 2022
Long-term results from CARTITUDE-1 (mPFS of 34.9 mos at 3-yr FU) andLEGEND-2 (46% OS at 5-yr FU) demonstrated sustained deep and durable
responses at ASCO in June 2023

→Contracted with Novartis in April 2023 for external clinical capacity in2024
Results from CARTITUDE-4 demonstrated statistically significant
improvement over SOC for 2-4L MM (Hazard Ratio of 0.26) at ASCO inJune 2023
Submissions made to U.S. and EU regulatory agencies in 2Q 2023 toexpand indication

ANTICIPATED NEAR-TERM MILESTONES• U.S. FDA has accepted cilta-cel sBLA and has
assigned a PDUFA target date of April 5, 2024

7

• Enrollment of CARTITUDE-6 (1L MM, transplanteligible) expected to begin in 2H 2023.

This presentation is for investor relations purposes only - Not for product promotional purposes• Enrollment of CARTITUDE-5 (1L MM, transplant
not intended) to be completed by end of 2023

CARVYKTI® Uptake Continues
Continued market penetration, new indications and healthier populations represent significant opportunity for continued growth

CARVYKTI® Net Product Sales ($MM)+388% growth vs Q2’22120

3

YoY Growth

QoQ Growth

U.S.

375%

63%

ex-U.S.

N/A50%

Global388%

63%10080→2600055554002420114

U.S.

8Q3 2022

Q4 2022•

Higher slot availability, which was driven by ramping up
commercial capacity and ramping up more quickly thananticipated•

Improvement in the out-of-spec rate•

Number of activated U.S. treatment sites increased to 54

700
Q2 2022

U.S. QoQ growth of 63% primarily driven by:

Q1 2023

Q2 2023

Ex - U.S.

This presentation is for investor relations purposes only - Not for product promotional purposes→Ex-U.S. QoQ growth of 50% primarily due to ongoing launch inGermany

Our Pipeline
PRECLINICALNSCLC(GPC3)Autologous

COLORECTAL(GCC)
Autologous

GlobalPHASE 1

GASTRIC,ESOPHAGEAL &PANCREATIC†RRMM (BCMA)LEGEND-2†(CLAUDIN 18.2)
Autologous
NCT04467853

NCT03090659

NHL† /ALL†(CD19 X CD20 X
CD22)†
Autologous
NCT05318963
NCT05292898

MM†(BCMA)
Autologous
NCT05318963
NCT05292898

Autologous CAR-T

PHASE 2

GASTRIC &ESOPHAGEAL &PANCREATIC‡(CLAUDIN 18.2)
Autologous

RRMM (BCMA)*CARTIFAN-1
Autologous CAR-T
NCT03758417

NCT05539430

MM†(BCMA)
Allogeneic CAR-NK
NCT05498545

AML(CLL1/CD33)
Allogeneic CAR-γδ T
NCT05654779

HCC†

RRMM (BCMA)*(GPC3)
Autologous
NCT05352542

CARTITUDE-1
Autologous CAR-T
NCT03548207

SCLC‡(DLL3)MM (BCMA)*

Autologous
NCT05680922

CARTITUDE-2
Autologous CAR-T
NCT04133636*In collaboration with Janssen, Pharmaceutical Companies of Johnson & Johnson. †Phase 1 IIT in China. ‡Multiple allogeneic platforms are being developed.
The safety and efficacy of the agents and/or uses under investigation have not been established. There is no assurance that the agents will receive health authority approval or become commercially available in any country for the uses being investigated. Additionally, assome programs are still confidential, certain candidates may not be included in this list.
ALL, acute lymphoblastic leukemia; AML, acute myeloid leukemia; BCMA, B-cell maturation antigen; DLL3, delta-like ligand 3; GPC3, glypican-3; GCC, guanylyl cyclase C; HCC, hepatocellular carcinoma; IIT, investigator-initiated trial; MM, multiple myeloma; ND, newly
diagnosed; NHL, non-Hodgkin lymphoma; NSCLC, non small cell lung cancer; RRMM, relapsed or refractory multiple myeloma; SCLC, small cell lung cancer.

9This presentation is for investor relations purposes only - Not for product promotional purposes

USChina

PHASE 3

RRMM (BCMA)*
1-3 Prior Lines
CARTITUDE-4
Autologous CAR-T
NCT04181827

NDMM (BCMA)*
Transplant Not
Intended
CARTITUDE-5
Autologous CAR-T
NCT04923893

NDMM (BCMA)*
Transplant Eligible
CARTITUDE-6
Autologous
NCT05257083

2023 2Q and 1H Financial Highlights
80-0.54-190

+513%

70

EPS (in $)Net Loss (in $MM)

Total Revenue ($MM)-191-192

60

-0.55

-193-1935073

30

10-199-195-196-0.61-0.62-199-200

0Q2 2022-0.63

Q2 2022

Q2 2023

Q2 2023-0.1-50+77%100-10080

-0.2
-0.3

-225

-0.4

-311

-150
60

110

-0.91

-0.5

-0.7

20-3000-350

1H 2023

-0.73

-0.6

-200-25062

1H 2022
10Q2 2023

0012040

Q2 2022

EPS (in $)Net Loss (in $MM)

Total Revenue ($MM)

-0.62

-0.6

+3%

-198

12-0.58
-0.59

-197

20-0.57

-0.57

-194

40-8%

-0.56

This presentation is for investor relations purposes only - Not for product promotional purposes-0.8+38%+25%-0.9-1

1H 2022
1H 2022

1H 2023

1H 2023

2023 2Q and 1H Financial Summary($MM)

June 30, 2023

March 31, 2023

Dec 31, 2022

1,519

854

1,026

Cash and Cash Equivalents, Time
Deposits, and Short-Term Investments($MM)

112Q 2023

2Q 2022

Y/Y change

1H 2023

1H 2022

Y/Y change

License revenue

15——1550-70%

Collaboration revenue

58

12387%

94

12691%

Other revenue

0088%

0061%

Total revenue

73

12513%

1106277%Collaboration cost of revenue-33-1793%-68-17303%

Research and development
expenses-96-6939%

-181

-150

20%

Administrative expenses-28-1854%-50-3163%

Selling and distribution expenses-21-27-22%-39-49-19%

LOSS FOR THE PERIOD

-199

-193

3%

-311

-226

38%

This presentation is for investor relations purposes only - Not for product promotional purposes• Raised $785M in Apriland May, including$235M in PIPEs,$350M in a RegisteredDirect Offering and$200M from exerciseof a warrant• These funds, together
with existing cash andcash equivalents, will
extend the company’s
cash runway into2025.

Focused Investments in Pipeline and Development
2Q 2023 Operating Expenses Growth of 27% versus 2Q 2022
→12This presentation is for investor relations purposes only - Not for product promotional purposes

The increases of $27.0 million in R&D expenses wasprimarily due to:•Continuous research and development activities in ciltacel, including higher patient enrollment for Phase 3
clinical trials for cilta-cel•

An increase in research and development activities forother pipeline items. The other pipeline expensesinclude continued investment in our solid tumor
programs, which include two IND approvals that
advanced into phase 1 development→

The decrease of $6.0 million in S&D Expenses was primarily
due to non-recurring launch expenses incurred in the firsthalf of 2022 to support the commercialization in the U.Smarket→

The increase of $9.7 million in Administrative Expenses wasprimarily due to the expansion of supporting administrative
functions to facilitate continuous business growth andcontinued investment in building global information
technology infrastructure.

Outlook: 2023 and BeyondNEAR-TERM GOALS→

Increase manufacturing capacity and efficiency→

Focus on unmet medical needs in hematology/oncology→

Complete enrollment of CARTITUDE-5→

Develop therapies with transforming potential→

Initiate enrollment of CARTITUDE-6→

Increase accessibility through lower cost and scalable
manufacturing→

Advance pipeline programs→

Build a global powerhouse by leveraging external
collaborations→

13

LONG-TERM GROWTH STRATEGY

Launch 2nd line indication based on CARTITUDE-4, ifapproved by regulatory authorities. The PDUFA target
date is April 5, 2024.

This presentation is for investor relations purposes only - Not for product promotional purposesGhent Facility

14

Q&A

Ying Huang, Ph.D.

Lori Macomber

Chief Executive Officer

Chief Financial Officer

Guowei Fang, Ph.D.

Steve Gavel

Chief Scientific Officer & Head ofBusiness Development

15

This presentation is for investor relations purposes only - Not for product promotional purposes

SVP of Commercial Development,
US and Europe

Thank you!
16

This presentation is for investor relations purposes only - Not for product promotional purposes