November 2017

Generating Value from Innovation

in Healthcare & Life Sciences

1

Disclaimer

This presentation may contain certain “forward-looking” statements. Such statements reflect current views on, among other things, our markets, activities, projections,

objectives and prospects. Such ‘forward-looking’ statements can sometimes, but not always, be identified by their reference to a date or point in the future or the use of

‘forward-looking’ terminology, including terms such as ‘believes’, ‘estimates’, ‘anticipates’, ‘expects’, ‘forecasts’, ‘intends’, ‘due’, ‘plans’, ‘projects’, ‘goal’, ‘outlook’, ‘schedule’,

‘target’, ‘aim’, ‘may’, ‘likely to’, ‘will’, ‘would’, ‘could’, ‘should’ or similar expressions or in each case their negative or other variations or comparable terminology.

By their nature, forward-looking statements involve inherent risks, assumptions and uncertainties because they relate to future events and circumstances which may or may

not occur and may be beyond our ability to control or predict. Actual outcomes and results may differ materially from any outcomes or results expressed or implied by such

forward-looking statements. Any forward-looking statements made by or on behalf of Arix Bioscience plc (the "Company") speak only as of the date they are made and no

representation or warranty is given in relation to them (whether by the Company or any of its associates, directors, officers, employees or advisers), including as to their

completeness or accuracy or the basis on which they were prepared.

Other than in accordance with our legal and regulatory obligations (including under the UK Financial Conduct Authority’s List ing Rules, the Disclosure Rules and Transparency

Rules and the Market Abuse Regulation), the Company does not undertake to update forward-looking statements to reflect any changes in the Company’s expectations with

regard thereto or any changes in events, conditions or circumstances on which any such statement is based.

Information contained in this presentation relating the Company or its share price or the yield on its shares are not guarantees of, and should not be relied upon as an

indicator of, future performance. Nothing in this presentation should be construed as a profit forecast or profit estimate.

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All opinions expressed in this presentation are subject to change without notice and may differ from opinions expressed elsewhere.

2

Overview

Life science discoveries advancing at an

unprecedented pace

Smaller companies are driving innovation

We help build these companies with a

permanent capital model and expert support…

… seeking to bring medical breakthroughs to

patients and build value for shareholders

3

Arix Bioscience: Building businesses and value

Life science ventures in a publicly-traded company

- Ticker: LSE: ARIX

- IPO raised £112m (February 2017)

Active management with a proven team of company builders

Direct interests built in 11 Group Businesses to date

- Spanning early to late stage development; multiple geographies

- Plus indirect interests through fund management business and BioMotiv

Privileged relationships with Big Pharma and Academia

Strong presence in Europe and the US

4

1. From 9 January 2006 to 8 December 2016

2. Cambridge Associates; Realised and unrealised returns; includes VC deals with an initial year of investment between 2006-2016 and net of fees

“Innovation” side of the healthcare sector driving investment returns

Life sciences delivering value for shareholders

Market Returns 2006-2016

8.1%

11.8%

22.5%

NASDAQ Index NASDAQ Biotech

Index (NBI)

Biopharma VC1 1 2

Targeting shareholder returns of 20% p.a. over the

longer term

Publicly traded shares versus ten year VC fund

Balanced exposure to diverse group of life science

companies

Highly experienced team with a strong track

record of building and realising value

Arix Bioscience

5

Source: Press releases, Pitchbook.

Note: Companies acquired while lead asset is in Phase I or preclinical development, for a disclosed value of over US$100m, 2010 to August 2017. This slide is not intended to indicate Arix’s expected returns or strategy in any way

but instead to provide an historical market context for early stage biotech.

Market opportunity

Transaction Value (US$m)

Pre

clin

ical

Ph

ase

I

Premium price paid for innovation

0 500 1000 1500 2000 2500 3000 3500

GlycoVaxyn / GlaxoSmithKline (2015)

Oncoethix / Merck & Co. (2014)

Heptares / Sosei (2015)

Amplimmune / AstraZeneca (2013)

Tensha / Roche (2016)

Fibrotech / Shire (2014)

Adheron / Merck & Co. (2015)

cCAM Biotherapeutics / Merck & Co. (2015)

Nimbus / Gilead (2016)

Seragon / Roche (2014)

Callidus / Amicus Therapeutics (2013)

Zacharon / BioMarin (2013)

CoStim / Novartis (2014)

Lotus Tissue Repair / Shire (2013)

IOMet / Merck & Co. (2016)

Calimmune / CSL Behring (2017)

Padlock / Bristol-Myers Squibb (2016)

iPierian / Bristol-Myers Squibb (2014)

Delinea / Celgene (2017)

Flexus / Bristol-Myers Squibb (2015)

IFM / Bristol-Myers Squibb (2017)

Engmab / Celgene (2016)

Upfront Earnout

Pre-Deal Cash Total Years FromRaised (US$m) Potential Deal US$m Inception to Exit

not disclosed 3,080 3.2

27 2,320 2.1

37 1,250 1.3

35 775 0.4

76 725 4.8

21 600 1.3

20 416 6.2

14 400 5.7

12 324 1.5

12 254 1.8

4 144 4.1

5 130 0.6

Average 23 717 (9.3x) 3.4

Median 12 478 (4.2x) 3.2

33 1,750 1

66 1,200 5.1

6 605 5

22.5 580 9.2

8 558 5.2

14 535 4.3

18 500 7.7

53 400 7.5

30 375 7

31 212 8.6

Average 31 653 (9.3x) 5.8

Median 30 546 (7.8x) 5.2

6

Broad science and commercial expertise

Joe Anderson, CEO

• VC & investor

background

• Former Partner,

Abingworth LLP

• First State Investments

• Dresdner Kleinwort

Benson

• Wellcome Trust, Ciba

• PhD Biochemistry

Jonathan Peacock,

Chairman• Big Pharma Background

• Former CFO Amgen and

Novartis Pharma, and

former Board Director of

Kite Pharma

• On Boards of Bellerophon

and Avantor

• Partner at McKinsey &

Company

Sir Chris Evans,

Deputy Chairman• Renowned scientist and

entrepreneur

• Founded numerous

successful companies

including Chiroscience,

Celsis, Biovex,

ReNeuron, Vectura,

Merlin Biosciences

Edward Rayner• Alliance Bernstein

• AMP Capital, UBS Asset

Management, JP

Morgan Investment

Management

• MA Chemistry and MSc

Management,

University of Oxford

Jonathan Tobin• Imperial Innovations

(Touchstone)

• MRC Technology

• PhD Molecular

Medicine from

University College

London; MBA from

Imperial College

Daniel O’Connell• OrbiMed Advisors

• Associate Director of

Cardiovascular

Research, Arisaph

Pharmaceuticals

• MD and PhD from Tufts

University

Mark Chin• Longitude Capital

• Boston Consulting

Group

• Gilead Sciences,

Genentech

• MBA Wharton; MS

Biotechnology UPenn

Owen Smith• Arthurian Life Sciences

• Grant Thornton

• BA Biology, University

of Bristol

Business Development Team

Leadership Team

7

Highly experienced Board

Former Roche Chairman and CEO

Non-Executive Director of Citigroup and Chugai Pharma

Former Chairman of Diageo plc, Chairman of INSEAD Board of Directors, and Board Director of Kite Pharma

Dr. Franz

Humer

Lead

Independent

Director

Former chairman of FTSE 100 companies Johnson Matthey, Whitbread, Kingfisher, Tarmac

Director of Invesco until May 2015

Former Chairman of ECI Partners

Former Director-General of the Confederation of British Industry (CBI), and first Controller of the Audit Commission

Chairman of Innoveas International

Sir John Banham

NED

Pharmacologist, and leader in drug receptor research, pharma R&D, biotechnology and venture investing

Led Zeneca’s global research activities and subsequently SmithKline Beecham’s R&D

Has worked to establish the Harrington Project since 2012; BioMotiv board member and chair of the Advisory Board

David

U’Prichard,

PhD, NED

British Member of Parliament for 18 years; former Secretary of State for Work and Pensions, Secretary of State for Business and Secretary of State for Defence

Adviser to Bechtel and Lockheed Martin and NED to Circle Holdings Plc and Sirius Minerals Plc

Chairs the Nuclear Industry Association

Lord Hutton

of Furness

NED

Former Group R&D Director at The Wellcome Foundation and a former director of Allergan

Former Director General of the Association of the British Pharmaceutical Industry; and a member of the UK Government Medicines Commission for 12 years

Visiting professor at King’s College, London, holds honorary degrees & Gold Medals from six universities

Professor Trevor

Jones, PhD, NED

Previously Group CFO of Charles Stanley plc, a leading Wealth Manager

Former Group CFO of Coutts, a global Private Bank & Wealth Manager

Former CFO of UBS Wealth (UK) before taking a global role in UBS Wealth based in Zurich

James

Rawlingson

CFO

Partner at L1 Health; and Associate Professor of Strategy and Health Policy at Columbia University

Former Executive Vice President of Strategy and Health Policy at Cardinal Health

Holds a DrPh in Healthcare Policy from New York Medical College, a BSN in Nursing from Fairfield University, and a Master of Public Health from Columbia University

Meghan

FitzGerald, DrPh

NED

Giles Kerr

NED

CFO of Oxford University

Director of Oxford University Innovation Ltd.; Non-Executive Director of AdaptimmuneTherapeutics plc, BTG plc, Senior plc, and PayPoint plc

Former CFO of Amersham

Fellow of Keble College, Oxford, and a Fellow of the Institute of Chartered Accountants in England and Wales

8

Building a balanced group

Currently: 11 companies (plus indirect holdings)

Target: 12 companies by end of FY17

20 companies by end of FY18

Target shareholder returns: 20% p.a. over the longer term

Early and late stageLife sciences GlobalBreakthrough

treatments

9

Successfully deploying capital since IPO

Led $65m Series B financing round

Invested & committed £8.6m total; fully diluted equity stake of 8.2%

Board seat

Exciting businesses addressing important areas of unmet medical need

Co-led $45m Series B financing round

Invested & committed £9.5m total; fully diluted equity stake of 12.0%

Board seat

Participated in $20m Series A financing round

Invested & committed £3.1m total; fully diluted equity stake of 9.0%

Board Observer position

Led $45m Series B financing round

Invested & committed £7.9m total; fully diluted equity stake of 15.4%

Board seat

Co-led $29m Series A financing round

Invested & committed £6.1m total; fully diluted equity stake of 23.4%

Board seat

Participated in $67m Series C financing round

Invested & committed £4.7m total; fully diluted equity stake of 3.8%

Board Observer position

KEY: Figures shown above are based on assumption of total invested and committed capital per latest funding round.

10

Direct interests in 11 Group Businesses to date

Oncology

Anti-Infectives

Gene Therapy &

Orphan Diseases

Technology

Platforms

Respiratory

£20.1m; 9.0% equity;

13.5% of NAV

£5.1m; 14.9% equity;

3.4% of NAV

£9.5m; 12.0% equity;

5.7% of NAV

£8.6m; 8.2% equity;

5.7% of NAV

£4.7m; 3.8% equity;

3.1% of NAV

£7.9m; 15.4% equity;

5.2% of NAV

£3.1m*; 2.5% equity;

2.6% of NAV

£1.0m; 20.7% equity;

0.7% of NAV

£6.1m; 23.4% equity;

4.2% of NAV

£1.3m; 31.9% equity;

0.9% of NAV

£3.1m; 9.0% equity;

1.0% of NAV

KEY: Figures shown above are based on assumption of total invested and committed capital per latest funding round. £ figures indicate value of Arix interest in the corresponding Group

Business (*value of Verona Pharma marked to market as of Arix Bioscience plc Half Yearly Report for the Six Months Ended 30 June 2017). % figures indicate Arix’s fully diluted equity

stake in the corresponding Group Business. % of NAV reflects percentage of total calculated Net Asset Value as of 30 September 2017.

11

Group Businesses reaching milestones

Initiated clinical trials for 3 lead programmes

Reached milestones agreed at Series B financing (March 2016)

Successful $80m Series C; value uplift to $300m post-money (from £110m)

Arix actively supporting further development of Group Businesses

Appointed Graeme Smith as CSO (co-inventor of Lynparza™)

Established world-class Scientific Advisory Board

Reached a series of development milestones

Data from two Ph.1 clinical trials and five non-clinical trials show lead

candidate well-tolerated and safe in patients, non-clinical efficacy

Lead candidate Ph.2-ready

Successfully listed on NASDAQ and raised $80m

Ph.2a clinical data showed significant improvement in lung function

and onset of action in combination with Spiriva® vs. Spiriva® alone

Agreed collaboration with AbbVie to develop novel immuno-oncology

therapeutics

Collaboration results in value uplift of c. 25% for Arix stake

12

Case study: Autolus

In March 2016, Arix led Series B financing round at £110m

post-money valuation

Invested and committed £10.0m for 9.0% equity stake and

seat on Board of Directors

Autolus met successive development milestones, including

progressing 3 programmes into clinic, releasing Series B

funding tranches

In September 2017, Autolus successfully raised $80m in a

Series C financing; valuation uplift to $300m post-money;

Arix participated in financing slightly super pro-rata

Currently, Arix’s total stake in Autolus is 9.0% equity at a

valuation of £20.1m, representing 13.5% of NAV

Substantial development progress and value creation since Arix involvement

13

Building valueAnticipated milestones*

Q4’17 2018 2019

Ph.1 CAR-T trials

startedPh.1 CAR-T trials data

Clinical candidate selection (Pol Θ) Ph.1 PolΘ trial start

2nd Clinical candidate selection

Clinical candidate selection Ph.1 prostate cancer dataPh.1 prostate cancer trial start

Ph.1 HPN536 trial start2nd Clinical candidate selection

Ph.2 fungal trials start Ph.2 fungal trials data

Ph.2/3 fungal trial starts

Ph.3 antibiotic trial starts Ph.3 antibiotic trials data

Ph.2a and 2b COPD

trials dataPh.2a Cystic Fibrosis data

Ph.2b COPD data;

Ph.2/2a/2b COPD and Cystic

Fibrosis trial starts

Clinical candidate selection

Clinical candidate selection

Ph.1/2 gene therapy trial start

Clinical candidate selection Ph.1/2 orphan bone trial start

Biomarker confirmation

Clinical candidate selection

Ph.1 Huntington’s trial start

Ph.1 Huntington’s data

Pilot scale development Commercial scale development

* Other value-creating events can happen during the period, e.g. third party financings, corporate deals, M&A, IPOs, etc.

14

Data shown as per Arix Bioscience plc Half Yearly Report for the Six Months Ended 30 June 2017, updated to reflect post-period end disclosures and investments through 30 September 2017.

Arix Bioscience plc has a rigorous cash reserve policy which means that all financial and contingent commitments relating to existing Group Businesses are met with existing cash reserves.

Group Businesses well resourced

£39m

£23m

£45m

Invested Committed Reserved

15

Novel therapeutics for autoimmune and allergic diseases B

Delivery systems for type II diabetes B

Minimally invasive interventional and surgical procedures -

Advanced ultrasound education and training simulators -

Full-service CRO focused on the most challenging therapeutic areas B

Proton Beam Therapy for cancer B

Clinical-stage stem cell therapy for stroke-related disabilities B

CRO specialising in early clinical development B

Markets Proxima – a platform for measuring blood gases, electrolytes and metabolites B

Clinical stage biotech with a “first-in-class” drug for chronic obstructive pulmonary disease -

Antibodies for respiratory diseases including COPD and α1-anti-trypsin deficiency A

Antibodies for atopic dermatitis, inflammatory bowel disease and colorectal cancer A

Koutif Therapeutics Small molecules for pain and inflammation A

NYNEX Small molecules targeting deubiquitinase UPS9X for the treatment of cancers A

Small molecules targeting protein unfolded response for retinitis pigmentosa and ALS A

Small molecule targeting nuclear receptor for autoimmunity and immuno-oncology A

SAPVAX Peptide-based, self-adjuvanting vaccines for cancer A

Antibody inhibitor of leukocyte infiltration for autoimmune disorders A

Source: Company, BioMotiv

BioMotiv, a US research accelerator, and ALS, Arix’s fund manager

Interests through BioMotiv and ALS

A = BioMotiv Board Representation B = ALS Board Representation

Board Seat

BioMotiv

holdings

in the US

Arthurian

Life

Sciences

managed

portfolio

16

Proprietary deal sourcingRich, renewable pipeline; Run-rate over 800 ideas annually

Industry

Partnerships4% shareholder in Arix5% shareholder in Arix

Broad VC Networks

in EU and US

Universities

17

Proprietary deal sourcingRich, renewable pipeline; Run-rate over 800 ideas annually

Research

Accelerators

Fund Manager

Current holdings

Germany

Wholly-owned subsidiary of Arix

First mandate: Wales Life Sciences

Investment Fund

£55m in funding

2.5% management fee and 20%

carried interest

US

18

Broad access to life science opportunities

Arix contacts,

46%

Brokers, 26%

Direct company

approaches,

11%

BioMotiv/accelerators, 6%

Universities,

11%

North

America, 37%

UK, 30%

Europe, 25%

ROW, 5%

Australia, 3%

Preclinical,

55%

Phase 1, 14%

Phase 2, 21%

Phase 3, 7%

Approved,

3%

* 801 opportunities seen since 1

March 2016 to 15 October 2017

Of Biotechnology Opportunities…

19

Screening for the best opportunities

Run-rate of over

800 opportunities

per year

Extensive diligence

on ~60 opportunities

to date

‘Live’ opportunities

20

Detailed diligence approach

• Breakthrough science & unmet medical need

• Validating preclinical or clinical data

• Capability of management and R&D teams

• Opportunity to add significant operational value

• Cash runway

• Deal structuring

• Agree clear value inflection points

• Regulatory pathway

• Market analysis

• Intellectual Property

Science

Commercial

Operations

Finance

21

White papers drive rigorous understanding and identify specific opportunities

Proactive sector research

Objective: Rigorous sector evaluation to

develop a detailed understanding of a sector

Contents: Memorialise findings that becomes a

“living document”

Market opportunity / unmet need

Current competition / standard of care

Clinical development approaches

Regulatory environment

Pipeline / new technologies

Commercialisation (pricing, reimbursement)

Strategic interest / valuations

Results: List of companies / technologies worth

immediate diligence or longer-term monitoring;

e.g. Iterum, Harpoon, LogicBio

Recent Focus Areas: Anti-Infectives, Oncology and Gene Therapy

22

Life science ventures in a public company

Conclusion

Deep pipeline of new opportunities

Key relationships with Big Pharma

High potential group of 11 companies already in place

Bringing life science ventures to public market investors

Appendices

24

Strong Support from Expert Syndicates

c. $100m invested and committed by Arix in 11 Group Businesses to date

c. $400m additional contributed by expert syndicates, several of which we

have led

25

Extensive relationships in the industry and VC community

Dealflow supported by team at Arix HQ in London

UK: “First Look” Agreements with 6 leading universities

Germany: “First Look” Agreement with the Max Planck LDC

Max Planck Society operates c.100 research institutions in Germany

Employs > 15,000 people and receives funding of €1.7bn p.a.

Broad VC networks and agreements with leading research centres

Europe: Sourcing innovation

26Source: Company, BioMotiv

Broad VC networks and shareholding in a research accelerator

US: Sourcing innovation

Extensive relationships in the industry and VC community in the US

Dealflow and US Group Companies supported by a team in NYC

Innovative science also sourced through BioMotiv with links to the

Harrington Scholars program

Arix is a BioMotiv shareholder and has committed $25m

Arix can invest in businesses via BioMotiv, alongside BioMotiv, or

independently of BioMotiv

Opportunities pre-qualified at point of review by BioMotiv following

Harrington screening process

27

Harrington Scholars programme

Source: BioMotiv

Extensive reach into US academic centres

Albert Einstein

College of Medicine

Rutgers

Columbia

University

University of

North Carolina

Duke

UniversityEmory

University

University of

Kentucky

Indiana

University

Washington

University in

St. Louis

University of

ColoradoUniversity of

Southern California

University of

California,

San Francisco

Mayo

Clinic

The Ohio State

University

Case Western

Reserve University

Harvard

University

Sickle Cell

disease

Hypoxemia &

Cardiac Arrest

Myocardial

Infarction

Diabetes and Atherosclerosis

Macular Degeneration

Cancer

Breast & Ovarian Cancer

Prostate Cancer

HTN & Atherosclerosis

Bacterial Drug Resistance

Type I Diabetes

Diabetes Cancer

Retinitis Pigmentosa

BlindnessOsteoporosisAlzheimer’s

DiseaseAge Related Macular

Degeneration

COPD

Obesity & Diabetes

Ischemic Retinal Diseases

Wound Healing

Basal Cell Carcinoma

Huntington’s Disease and

Neurodegenerative

Disorders: Psoriasis

Type I Diabetes

Neonatal Brain

Injury & Stroke

Retinitis

PigmentosaHeart Failure

Tuberculosis

Alzheimer’s

Disease

Alzheimer’s

Stroke and Cancer

Acute Myeloid Leukaemia

Bacterial Drug Resistance

Blood Cancers

Respiratory Stimulant

Inflammation

Alzheimer’s Disease

Niemann-Pick C Disease

BioAtla

Autoimmune

Retinal Degeneration

Cancer

Rheumatoid Arthritis

La Jolla Institute

University of California,

San Diego

Pain Control

Nervous System

Movement Disorders

Osteoporosis

Alzheimer’s Disease

Alzheimer’s

Disease

Diabetes

Vanderbilt

University

Lung

Transplant

Rejection

Non-

alcoholic

Fatty Liver

Disease and

Diabetes

Yale University

Pain Management

CancerMt.

Sinai

The Rockefeller

UniversityMyocardial

Infarction

Memorial Sloan

Kettering Cancer

Center

Brigham and

Womens Hospital

Heart Rhythm Disorder

Psoriasis, Diabetes,

Rheumatoid Arthritis and

Alzheimer's Disease

HDI

Sickle Cell anaemia and

Beta-Thalassemia

Boston

University

University of

Pittsburgh

New York

University

University of

Pennsylvania

Johns Hopkins

University

Massachusetts

General Hospital

Inherited Heart

Rhythm

Disorders

Geisel

MRSA

University

of Texas

Cancer

U. of

Maryland

Depression

University of

Michigan

Melanoma

University of

Arizona

Stanford University

Cancer

28

Two-way flow of information on business opportunities, covering:

Sourcing

Screening

Due diligence

Joint business building

Benefits for Arix:

Access to deep scientific knowledge and R&D capabilities

Market intelligence and commercial assessment

Strategic investments at IPO: 5% holding from Takeda, 4% from UCB Pharma

Pharmaceutical partnershipsTakeda and UCB Pharma