#1Benevolent Strategic Plan to Position BenevolentAl for a New Era in Al 25 May 2023 LUX#2Disclaimer Forward-Looking Statements This document may contain forward-looking statements. Forward-looking statements are statements that are not historical facts and may be identified by words such as "plans", "targets", "aims", "believes", "expects", "anticipates", "intends", "estimates", "will", "may", "should" and similar expressions. Forward-looking statements include statements regarding objectives, goals, strategies, outlook and growth prospects; future plans, events or performance and potential for future growth; economic outlook and industry trends; developments in BenevolentAl's markets; the impact of regulatory initiatives; and/or the strength of BenevolentAl's competitors. These forward-looking statements reflect, at the time made, BenevolentAl's beliefs, intentions and current targets/aims. Forward-looking statements involve risks and uncertainties because they relate to events and depend on circumstances that may or may not occur in the future. The forward-looking statements in this release are based upon various assumptions based on, without limitation, management's examination of historical operating trends, data contained in BenevolentAl's records, and third-party data. Although BenevolentAl believes that these assumptions were reasonable when made, these assumptions are inherently subject to significant known and unknown risks, uncertainties, contingencies and other important factors which are difficult or impossible to predict and are beyond BenevolentAl's control. Forward-looking statements are not guarantees of future performance and such risks, uncertainties, contingencies and other important factors could cause the actual outcomes and the results of operations, financial condition and liquidity of BenevolentAl or the industry to differ materially from those results expressed or implied by such forward-looking statements. The forward-looking statements speak only as of the date of this release. No representation or warranty is made that any of these forward-looking statements or forecasts will come to pass or that any forecast result will be achieved. Benevolent 2#3New strategic plan to position BenevolentAl for a new era ORGANISATIONAL CHANGES REDUCING COST BASE FOCUSING ON HIGH-VALUE ASSETS Prioritising the most advanced assets, progressing them to their next value inflection points Expected net cost savings of £45m, extending the cash runway to at least July 2025 (before any new revenue) Other drug programmes will be paused, with a review underway to optimise value for these assets • Retaining key capabilities in drug discovery and target identification COMMERCIALISING AI TECH PLATFORM Commercialising our innovative technology platform through new revenue-generating products, collaborations and partnerships Planned launch of a new suite of products that enable biopharma companies to advance new discoveries by harnessing the power of Al ● Aligning the organisational structure to the new strategic direction, improving capital efficiency and operational effectiveness Streamlining operations across two business units: Bio and Tech, supported by Shared Business Ops Building a commercial function to drive revenue growth ● Cost savings driven by headcount reductions of up to approximately 180 employees, reduced lab and office footprint, and the pause of selected drug programmes The strategic plan maximises the potential of our portfolio and expands our differentiated technology platform to meet a moment of opportunity for Al in biopharma Benevolent 3#4Our new structure delivers a tangible path to enhance value creation Cash runway extended to at least July 2025, before factoring in any new revenue Opportunity for meaningful revenue generation from a new suite of Al products and portfolio assets Building a commercial function, including executive leadership, product sales and marketing, to drive revenue growth Increased operational focus from two distinct business units 1. Large Language Model. Bio Unit BEN-8744 Ulcerative Colitis Entering Ph. I in Q3 2023 BEN-28010 Glioblastoma Multiforme IND ready in Q4 2023 Earlier Stage Assets Amyotrophic Lateral Sclerosis, Parkinson's Disease & Fibrosis Discovery Collaboration AstraZeneca Paused Programmes Under review Tech Unit Augmented Intelligence Bio-Al Trained LLMs¹ and Knowledge Graphs + Data Model Multi-modal data foundations Modular use-cases Advance Drug Discovery Target ID, drug repurposing, and others Scale life scientist capabilities Al enabling day-to-day workflows Benevolent 4#5Tech Business Unit Overview#6Fundamental shift in Al landscape and market opportunity - BAI is uniquely positioned to lead At BenevolentAl, we build technology in the service of science Market Evolution Fundamental shift in AI landscape will result in a wide adoption of Al tools across biopharma R&D Companies now demand products that are tech-centric, modular, bio-specific, and secure Go-Forward Strategy 5+ years of experience building highly specific, biopharma sector and domain specialised LLMs and Al models for use across R&D Leverages our core competencies in drug discovery and data integration to support development of new products that scientists need Capitalising on our technology to scale thousands of scientists across biopharma globally Focus on solving for day-to-day scientific needs across biopharma R&D Platform built on a successful track record of impact and domain/sector specific AI LLM/NLP expertise Benevolent 6#7AUGMENTED INTELLIGENCE ENGINE Solving fundamental biopharma needs across R&D Augmented Intelligence Engine and new suite of modular use cases Scientist workflow modules Mitja f 000 Augmented research browser Multi-modal data Molecular Literature Omics Health Records Clinical Trials Regulatory Documents Experiments Biological Systems Meet-Ben, your R&D co-pilot Public, Licensed & Customer Data Secure private deployment Biomedical Q&A 04 00 Biopharma trained LLMs and Al models Multi-modal data foundations APIs integrating with customer & 3rd party apps API More in Development Advance Drug Discovery Modules deky Target Id & Validation @ Disease Exploration Drug Repurposing Ⓒ O O jo More in Development We have a unique and differentiated set of capabilities Products developed with internal biopharma domain experts Suite of modules solve critical challenges across biopharma R&D Bio-specific LLMs and Al models trained for biopharma use cases Multi-modal data foundations enable secure customer-level deployments and data integrations Technology translated to deliver scientific impact via suite of use-cases with proven value Benevolent™ 7#8New partnership model... Rapidly deployable products with highly customised installations in organisations Integrated into customer organisations with public, licensed, and customer data while maintaining confidentiality Modular suite of use cases that can be scaled within and across customers Broad useability across R&D organisation, with query-based system for wide adoption ...that will maximise the scale of our offerings Leverages our unique domain expertise in both bio-science and Al Long-term and broad-use partnerships covering all TAS Anticipated recurring revenue streams as companies adopt Augmented Intelligence Engine Utilised day-to-day across the entire R&D organization Benevolent 8#9Bio Business Unit Overview#10Prioritising our high-value assets 5 DIFFERENTIATED ASSETS Prioritises the Company's most advanced and high potential assets, which were originated by our Al platform, progressing them to their value inflection points HYBRID DEVELOPMENT MODEL Retention of in-house core competencies, combined with strategic outsourcing ENHANCED CAPITAL ALLOCATION Spend reduction through right-sized lab footprint, and allocation of resources towards our highest-potential assets i PRIORITISED ASSETS Chemistry & Lead Opt. BEN-8744 | Ulcerative Colitis BEN-28010 | Glioblastoma Multiforme BEN-34712 | ALS Parkinson's Disease I Pre-Clinical Fibrosis Other programmes are being paused; there will be no further spend I on BEN-2293 Pre-Clinical Ph. 1 Chemistry & Lead Opt. Benevolent 10#11Outlook#12Multiple value inflection points in the near-term Key Events Commercial discussions & software demonstrations with potential partners Completion of cost reduction program BEN-8744: Phase 1 start Formal new product launch BEN-28010: IND-ready Underway Early Q3 2023 Q3 2023 Q4 2023 Q4 2023 IR Calendar Interim results Capital markets day Sep 2023 Q4 2023 Benevolent 12#13Because A matters