Building a Premier Oncology Biotech: Two Pillar Strategy for Growth

Dr. Helen TorleyPresident & CEO

September 2016

Forward-Looking Statements

All of the statements in this presentation that are not statements of historicalfacts constitute forward-looking statements within the meaning of the PrivateSecurities Litigation Reform Act of 1995. Examples of such statements includefuture product development and regulatory events and goals, anticipatedclinical trial results and strategies, product collaborations, our businessintentions and financial estimates and results. These statements are basedupon management’s current plans and expectations and are subject to anumber of risks and uncertainties which could cause actual results to differmaterially from such statements. A discussion of the risks and uncertaintiesthat can affect these statements is set forth in the Company’s annual andquarterly reports filed from time to time with the Securities and ExchangeCommission under the heading “Risk Factors.” The Company disclaims anyintention or obligation to revise or update any forward-looking statements,whether as a result of new information, future events, or otherwise.

Halozyme: 2016 and Beyond

Diversified Oncology Biotech Fueled byHigh-Growth Royalty Platform

► Proprietary Oncology Pipeline– PEGPH20: Phase 3 asset with pan tumor potential – 2 pre-clinical assets – Strong Intellectual Property

► Proven, Proprietary ENHANZE™ Platform– 3 royalty generating products launched in Europe, 1 in U.S.– Strong Intellectual Property– Partners developing multiple potential blockbuster products

utilizing ENHANZE – Strong outlook for growth

2

Two-Pillar Strategy for Growth

Oncology PipelineENHANZE™ Platform

6 Global Licensing & Collaboration agreementsRecurring mid-single digit royalties • Approved and development stage

targets total $30B+ sales1 potential in 2025

• ENHANZE platform royalty revenue will depend upon indications and market penetration

Potential for up to $900M cumulative milestones2 for selected targets

PEGPH203, unique Phase 3 asset • Primary indication

– Pancreatic cancer, ~25,000 HA-HIGH population4

• Additional indications– Estimated 50,000 HA-HIGH

population4

HTI-1511, preclinical asset• Novel anti-EGFR antibody-drug

conjugate• Works in both wild type and mutated

KRAS and BRAF tumor animal models

PEG-ADA2, preclinical asset• Novel checkpoint Inhibitor

3

1 Mean analysts estimates for global revenue, Bloomberg; Analyst model estimates; EvaluatePharma, Sept. 2016.2 Assumes all developmental and commercial milestones achieved and paid to Halozyme for selected targets.3 PEGPH20 is an investigational drug; safety and efficacy profiles have not been established, nor is it available for commercial distribution.4 Estimated addressable patients in U.S., EU5 based on annual Incidence, SEER 18 2006-2012, Globocan 2012, Medscape; and Halozymeestimates for HA-HIGH %

PEGPH20 Goal: Improve Targeting Of Co-Administered Cancer Therapies

Hyaluronan (HA) Can Be a Barrier to Therapeutic and Immune Cell Access to Tumor Cells

HA (Red) surrounding a single breast cancer cell overexpressing HAS3 (Bright Green)7

1 Whatcott, et al. AACR (2013)2 Brekken et al. Anticancer Res. 20:3503 (2000)3 Provenzano and Hingorani, Br J Cancer 108:1 (2013)4 Thompson et al. Mol Cancer Ther. 9:3052 (2010)5 Stylianopoulos et al. PNAS. 110:18632 (2013)6 Singha et al. . Mol Cancer Ther. 14:523 (2015)7 Rilla et al. JHC. 56:901 (2008)

HA Surrounding a Cancer CellHA is a Structural Carbohydrate that:• Stabilizes the Tumor

Microenvironment (TME)• Is associated with decreased

survival1• Compromises Access to the

Tumor – Increases tumor interstitial

pressure2,3

– Compresses vasculature4,5

– Can decrease therapeutic and immune cell access6

5

PEGPH20 Targets Hyaluronan in the TME

PEGPH20

In HA-High Tumor Animal Models, Removal of HA by PEGPH20 Demonstrated to:

Decreaseintratumoral

pressure

Decompressvasculature

Increaseperfusion

Increase access for

therapeutics

Increase access for

immune cells

6

PEGPH20 Increases Accumulation and Effect of anti-PDL1 in Animal Models

***

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KPC-derived HA-High Pancreatic Tumor Model

SKOV3/HAS2 Ovarian Tumor Model Anti-Human PD-L1 Alexafluor 488

PEGPH20 Increased Tumor Growth Inhibition

PEGPH20 Increased Accumulation of Anti-PD-L1

7

Advancing Demonstration of PEGPH20 Pan-Tumor Potential

PEGPH20 Study

Preclinical Phase 1 Phase 2 Phase 3InCombination

withTumor

Gemcitabineand nab-Paclitaxel (ABRAXANE®)

Pancreatic1

Cancer

Pembrolizumab(KEYTRUDA®)

Gastric/ NSCLC

Eribulin(HALAVEN®)

BreastCancer(Eisai Collaboration)

HALO 301: First Patient Dosed in March 2016

Goal: Advance to Dose Expansion in 2H16

First Patient Dosed in July 2016

Goal: Sign Additional I-O Clinical Collaboration 2H 2016

1 HALO 202 Pancreatic closed enrollment in Feb. 2016. The Phase 2 study included a Stage 1 (146 patients) and Stage 2 (133 patients)

8

Study HALO 202 | Pancreatic

Design

Phase 2 Trial: 1L Stage IV pancreatic cancer

PEGPH20 plus ABRAXANE and gemcitabine versus ABRAXANE and gemcitabine alone

Primary endpoints: Progression-free Survival (PFS) and Thromboembolic (TE) Event rate

Number of Sites 45 (US)

Stage 1 146 patients: 43 HA-HIGH

Study results reported ASCO 20161

Stage 2133 patients: estimated 35-40% HA-HIGH

Projected topline results Q4 2016

1 Bullock, et. al. “Final Analysis of Stage 1 Data" American Society of Clinical Oncology (ASCO) Annual Meeting 2016.

Ventana Companion Diagnostic Used Retrospectively To Determine HA-HIGH Patients

9

HALO 202 | Pancreatic: Stage 1 PFS Resultsin HA High Patients

Bullock, et. al. “Final Analysis of Stage 1 Data" American Society of Clinical Oncology (ASCO) Annual Meeting 2016.

10

Preferred Term

PAG (n = 74)Patients, n (%)

AG (n = 61)Patients, n (%)

Any Grade Grade ≥ 3 Any Grade Grade ≥ 3Any AE 73 (98.6) 63 (85.1) 57 (93.4) 45 (73.8)Fatigue 52 (70.3) 15 (20.3) 42 (68.9) 11 (18.0)Peripheral edema 44 (59.5)1 2 ( 2.7) 19 (31.1) 4 ( 6.6)Nausea 43 (58.1) 5 ( 6.8) 31 (50.8) 2 ( 3.3)Muscle spasms 41 (55.4)1 6 ( 8.1) 1 ( 1.6) 0Diarrhea 31 (41.9) 6 ( 8.1) 24 (39.3) 2 ( 3.3)Anemia 30 (40.5) 14 (18.9) 30 (49.2) 10 (16.4)Decreased appetite 27 (36.5) 4 ( 5.4) 14 (23.0) 2 ( 3.3)Alopecia 24 (32.4) 0 25 (41.0) 0Vomiting 24 (32.4) 4 ( 5.4) 16 (26.2) 0Neutropenia 23 (31.1) 18 (24.3) 12 (19.7) 10 (16.4)Neuropathy peripheral 17 (23.0) 4 ( 5.4) 18 (29.5) 5 ( 8.2)

Stage 2 Thromboembolic Event (TE) rates: 9% in PAG arm (6/68), 6% in AG arm (2/34) with prophylaxis enoxaparin of 1 mg/kg/day (Data through March 31, 2016).

1 p < .05; Febrile neutropenia reported in 3 vs 1 PAG- and AG-treated patients, respectively.

HALO 202 | Pancreatic: Stage 1 Overall Safety Profile Treatment Related AEs >25%

11

Bullock, et. al. “Final Analysis of Stage 1 Data" American Society of Clinical Oncology (ASCO) Annual Meeting 2016.

HALO-301|Pancreatic: Phase 3 Trial Ongoing

• Randomized (2:1 PAG:AG), double-blind, placebo-controlled, global

• Interim analysis when target number of PFS events reached

• PFS powered with a hazard ratio of 0.59 (to detect a 41% risk reduction for progression)

• First patient dosed in March 2016, study will include approximately 200 sites in 20 countries

PEGPH20 + ABRAXANE® + gemcitabine (PAG)

ABRAXANE® + gemcitabine (AG) + placebo

MetastaticPDA

High-HA patients

N=420

Primary Endpoints: Progression-Free Survival (PFS)Overall Survival (OS)

12

Focus: Tumors with High Unmet Need

13

1L Metastatic Pancreatic Cancer

Annual Incidence (US and EU 5) ~65,000

Estimated % HA-HIGH 35-40%

Target HA-HIGH Population ~25,0001

Advanced Non-Small Cell Lung,2L Metastatic Gastric,

2L Stage IV Breast (HER2-)

Annual Incidence (US and EU 5) ~180,000

Projected % HA-HIGH 30%

Target HA-HIGH Population ~50,0001

1Annual Incidence, SEER 18 2006-2012, Globocan 2012, Medscape; Estimated HA-High %, Halozyme estimates

ENHANZE™ Platform

14

ENHANZE Value Demonstration

Product ENHANZE Value Proposition

ENHANZESubcutaneous Alternative

Number and frequency of injections per

month

Alternate SC:

Lifecycle Management

2030patent extension1

2014EU patent expiration

for Herceptin IV2

Mean chair time in 8 Countries3 25-133 mins / visit 198-329 mins / visit

for MabThera IV

1 European patent application EP24591672 Generics and Biosimilars Initiative, Aug. 12, 2016 (http://www.gabionline.net/Biosimilars/General/Biosimilars-of-trastuzumab)3 De Cock, et. al. “Time Savings with Rituximab Subcutaneous (SC) injection vs. Rituximab Intravenous (IV) Infusion: Final Analysis from a Time and Motion Study in 8 Countries.” American Society of Hematology (ASH) Annual Meeting, New Orleans, Louisiana. Dec. 7-10, 2013

15

ENHANZE Momentum: Expanding Partnerships, Advancing Royalty Pipeline

$25M

$160M

5

$23M

$130M

9

$15M

$113M

5

$8M

$85M

6

$10M

$37M

1

$20M

$37-47M

8

One-time Upfront

Total Milestones

/ Target1

Targets

20152007 2012 20142006

Recurring Mid-single Digit Royalties on Net Sales

16

1 Assumes all developmental and commercial milestones per target achieved and paid to Halozyme

ENHANZE Portfolio Opportunity

4 targets selected and non-disclosed

23 Additional Targets Licensed

Estimated 150 Targets Available3

bococizumab2

rivipansel2

17

Potential Future Opportunity

1 Mean analysts estimates for global revenue, Bloomberg; Analyst model estimates; EvaluatePharma, Sept. 2016. ENHANZE platform royalty revenue will depend upon indications evaluated by partners and market penetration

2 Phase 1 studies completed in 2016 3 150 targets based on Informa PLC data search: monoclonal antibodies, siRNA/RNAi, select small molecules,

delivered Intramuscular, intravenous and subcutaneously

The Top 3• $5B+ Royalty-Eligible Sales

in 20251

• Recurring mid-single digit royalties

The Next 5• $25B+ Sales in 20251

• Recurring mid-single digit royalty

The Top 3: Leading Commercial Assets Paying Recurring Royalties

First Approvals Indications

Estimated 2015 Total Brand Revenues,

Listed Indications, Ex-US and ex-Japan

EMA: Sept. 2013 • HER2+ Metastatic Breast Cancer

• HER2+ Early Breast Cancer

$3.8B1

EMA: Mar. 2014 • Follicular Lymphoma• Diffuse Large B-Cell

Lymphoma• Chronic Lymphocytic

Leukemia

$2.8B2

EMA: May 2013 • Adult Primary and Secondary Immunodeficiency $150M3

FDA: Sept. 2014 • Adult Primary Immunodeficiency

1 Reported sales of Herceptin excluding U.S., Japan (from Roche Investor Presentation, Jan. 28, 2016) and estimated sales in gastric indication2 Reported sales of MabThera excluding U.S., Japan (from Roche Investor Presentation, Jan. 28, 2016) and estimated sales in rheumatoid arthritis

indication3 Annual HyQvia sales run-rate as reported by Baxalta, 8K Filing for Q4 2015 Financial Results (February 16, 2016)

18

Herceptin SC and MabThera SC: Strong ConversionDriving Royalty and Revenue Growth

40+ countries

50+ countries 15+ countries

*Information provided during Roche investor update (Jul. 21, 2016)

19

Marketed Products: Royalty Revenue Ramp

20

First Half Second Half First Half

2015 2015 2016

48% CAGR$23.7M

The Next 5: Considerable Royalty Revenue Potential Upon Approval

Partner ProductGlobal Revenue Projection, All

Indications – 20252

ENHANZE Program

Stage

Upcoming Event/Catalyst

$5B Phase 1 Est. Completion Phase 1: Sept 20171

$8B Phase 1Est. Primary

Completion Date: Jan 20171

~$11B3 Phase 1 Complete Phase 1

bococizumab $2B Phase 1 Complete

Analysis of Phase 1 SC Data

rivipansel $0.4B Phase 1 Complete

Pending Partner Decision

21

1 Estimated study completion date, clinicaltrials.gov2 Mean analysts estimates for global revenue, Bloomberg; Analyst model estimates3 EvaluatePharma, Sept. 2016

ENHANZE Royalty Revenue Will Depend Upon Indications Evaluated by Partners and Market Penetration

ENHANZE Portfolio Opportunity

4 targets selected and non-disclosed

23 Additional Targets Licensed

Estimated 150 Targets Available3

bococizumab2

rivipansel2

22

Potential Future Opportunity

1 Mean analysts estimates for global revenue, Bloomberg; Analyst model estimates; EvaluatePharma, Sept. 2016. ENHANZE platform royalty revenue will depend upon indications evaluated by partners and market penetration

2 Phase 1 studies completed in 2016 3 150 targets based on Informa PLC data search: monoclonal antibodies, siRNA/RNAi, select small molecules,

delivered Intramuscular, intravenous and subcutaneously

The Top 3• $5B+ Royalty-Eligible Sales

in 20251

• Recurring mid-single digit royalties

The Next 5• $25B+ Sales in 20251

• Recurring mid-single digit royalty

Oncology Pipeline Update

PEG-ADA2 Immune Checkpoint Inhibitor

>100x IncreaseTumor Microenvironment Adenosine

~0.1 µM → ~50 µM

ATP

ATPAdenosineAMP

Tumor

CD73CD39

Adapted from Stagg & Smyth, Oncogene, 2010

• Abnormally high levels accumulate in the tumor microenvironment leading to immunosuppression

Adenosine: Attractive immune checkpoint target

• Checkpoint inhibitor• Anti-tumor responses observed in animal models

− Increase in T-cell infiltration− Decrease in high adenosine levels in tumor

microenvironment− Targeting IND enabling studies in 2017

PEG-ADA2: Engineered human enzyme targeting adenosine

24

HTI-1511 Anti-EGFR Antibody Drug Conjugate

Released Cytotoxins

Internalized ADC

ADC

ADC overcomesmutation resistance and selectively kills tumor cell

KRASMut

BRAF

MEK

ERK/MAPK

Tumor Cell Death

ADC = antibody-drug conjugate

Adapted from Pao, Nature Reviews Cancer 10, 760-774 (2010)

• Works in both wild type and mutated KRAS and BRAF tumor animal models

• Complete tumor responses observed in PDx tumor models

• IND enabling studies underway• Targeting Clinical Study in 1H 2018

HTI-1511: Anti-EGFR Antibody Drug Conjugate

25

Financial Update

2016 Financial GuidanceJanuary 2016 August 2016

Revenue $110M to $125M $140M to $150M

Operating Expenses $240M to $260M $245M to $260M

Cash Flow $35M to $55M $65M to $85M

Year-end Cash $140M to $160M $170M to $190M

27

Value Enhancing Milestones Throughout 2016

Goal Target DateInitiate HALO-301|Pancreatic trial Complete

Initiate HALO-Eisai Study in Breast Cancer Patients Complete

Project Reporting Mature ORR and PFS from HALO 202 | Pancreatic Q4 2016

Initiate 90% of study sites in Study 301 Dec. 2016

Initiate dose expansion Keytruda trial 2H 2016

Sign Additional I-O/PEGPH20 Clinical Collaboration 2H 2016

Support ENHANZE Partners’ Progress to Phase 2/3 2H 2016

Sign New ENHANZE Platform Agreement 2016

✓

✓

28

Two-Pillar Strategy for Growth

Oncology PipelineENHANZE™ Platform

6 Global Licensing & Collaboration agreementsRecurring mid-single digit royalties • Approved and development stage

targets total $30B+ sales1 potential in 2025

• ENHANZE platform royalty revenue will depend upon indications and market penetration

Potential for up to $900M cumulative milestones2 for selected targets

PEGPH203, unique Phase 3 asset • Primary indication

– Pancreatic cancer, ~25,000 HA-HIGH population4

• Additional indications– Estimated 50,000 HA-HIGH

population4

HTI-1511, preclinical asset• Novel anti-EGFR antibody-drug

conjugate• Works in both wild type and mutated

KRAS and BRAF tumor animal models

PEG-ADA2, preclinical asset• Novel checkpoint Inhibitor

29

1 Mean analysts estimates for global revenue, Bloomberg; Analyst model estimates; EvaluatePharma, Sept. 2016.2 Assumes all developmental and commercial milestones achieved and paid to Halozyme for selected targets.3 PEGPH20 is an investigational drug; safety and efficacy profiles have not been established, nor is it available for commercial distribution.4 Estimated addressable patients in U.S., EU5 based on annual Incidence, SEER 18 2006-2012, Globocan 2012, Medscape; and Halozymeestimates for HA-HIGH %