Ayala Investor Presentation — March 2022

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We target clinically underserved cancers

This presentation contains forward- looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. All statements contained in this presentation that do not relate to matters of historical fact should be

considered forward- looking statements, including statements relating to our development of AL101 and AL102, the promise and potential impact of our preclinical or clinical trial data, the timing of and plans to initiate additional clinical trials

of AL101 and AL102, the timing and results of any clinical trials or readouts, the sufficiency of cash to fund operations, and the anticipated impact of COVID- 19, on our business. These forward- looking statements are based on

management's current expectations. The words ”may,” “will,” “should,” “expect,” “plan,” “anticipate,” “could,” “intend,” “tar get,” “project,” “estimate,” “believe,” “predict,” “potential” or “continue” or the negative of these terms or other similar

expressions are intended to identify forward- looking statements, although not all forward- looking statements contain these identifying words.

These statements are neither promises nor guarantees, but involve known and unknown risks, uncertainties and other important factors that may cause our actual results, performance or achievements to be materially different from any

future results, performance or achievements expressed or implied by the forward- looking statements, including, but not limited to, the following: we have incurred significant losses since inception and anticipate that we will continue to incur

losses for the foreseeable future. We are not currently profitable, and we may never achieve or sustain profitability; we wil l require additional capital to fund our operations, and if we fail to obtain necessary financing, we may not be able to

complete the development and commercialization of AL101 and AL102; we have a limited operating history and no history of comm ercializing pharmaceutical products, which may make it difficult to evaluate the prospects for our future