Lineage Cell Therapeutics Investor Presentation — April 2022

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April 25, 2022The future of cell therapy.This presentation isforinformational purposes only and isnot anoffer tosellorasolicitation ofanoffer tobuy any securities of

Lineage Cell Therapeutics, Inc.(“Lineage”) .This presentation includes certain information obtained from trade and statistical

services, third -party publications, and other sources .Lineage has not independently verified such information and there can beno

assurance astoitsaccuracy .

Allstatements inthis presentation, other than statements ofhistorical fact, areforward -looking statements within themeaning of

federal securities laws .Insome cases, you canidentify forward -looking statements byterms such as“may,” “will,” “would,” “expect,”

“plan,” “anticipate,” “strategy,” “designed,” “could,” “can,” “intend,” “believe,” “estimate,” “target,” “potential,” “aim,” “seek,”

“continue,” “next steps,” “upcoming,” orthenegative ofthese terms and other similar expressions. Such statements include, butare

not limited to,statements relating tothe broad potential forLineage’s regenerative medicine platform and Lineage’s ability to

expand thesame ;theprojected timing ofmilestones offuture studies, including their initiation and completion ;theprojected timing

ofinteractions with the FDA todiscuss product designation, manufacturing plans and improvements, and later- stage clinical

development ;thecollaboration and license agreement with Roche and Genentech and activities expected tooccur thereunder, its

potential success, themilestone and royalty consideration payable toLineage and Lineage’s planned useofproceeds therefrom ;the

potential success ofother existing partnerships and collaborations, thepotential opportunities fortheestablishment orexpansion of

strategic partnerships and collaborations and thetiming thereof ;thepotential forLineage’s investigational allogeneic celltherapies

togenerate clinical outcomes beyond thereach oftraditional methods and provide safe and effective treatment formultiple, diverse

serious orlifethreatening conditions ;and cash management and runway .Forward -looking statements involve risks, uncertainties

and assumptions that may cause Lineage’s actual results, performance, orachievements tobematerially different from those

expressed orimplied bytheforward -looking statements inthis presentation, including risks and uncertainties inherent inLineage’s

business and other risks described inLineage’s filings with theSecurities and Exchange Commission (SEC). Lineage’s forward -looking

statements are based upon itscurrent expectations and involve assumptions that may never materialize ormay prove tobe