Lineage Cell Therapeutics Investor Presentation — September 2021

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September 15, 2021The future of cell therapy.This presentation isforinformational purposes only and isnotanoffer tosellorasolicitation ofanoffer tobuy

any securities ofLineage 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 canbenoassurance astoitsaccuracy .

Allstatements inthis presentation, other than statements ofhistorical fact, are forward -looking statements

within the meaning offederal securities laws .Insome cases, you can identify forward -looking statements by

terms such as“may,” “will,” “would,” “expect,” “plan,” “anticipate,” “strategy,” “designed,” “could,” “can,” “intend,”

“believe,” “estimate,” “target,” “potential,” “aim,” “seek,” “continue,” “next steps,” “upcoming,” orthenegative of

these terms and other similar expressions .Such statements include, butarenotlimited to,statements relating to

the clinical and market potential ofLineage’s investigational products, itsin-house manufacturing capabilities,

anticipated clinical trial advancement, timing and data, regulatory communications and the timing thereof,

regulatory approval pathway, partnership opportunities, product pipeline expansion 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 arebased upon itscurrent expectations and involve assumptions that may never materialize ormay

prove tobeincorrect .Allforward -looking statements areexpressly qualified intheir entirety bythese cautionary

statements .Further information regarding these and other risks isincluded under theheading “Risk Factors” in

Lineage’s periodic reports filed with the SEC, including Lineage’s most recent Annual Report onForm 10-K,

Quarterly Report onForm 10-Qand itsother reports, which areavailable from theSEC’s website atwww .sec.gov.

You arecautioned nottoplace undue reliance onforward -looking statements, which speak only asofthedate on

the cover ofthis presentation .Lineage undertakes noobligation toupdate any forward -looking statement to

reflect events that occur orcircumstances that exist after that date, except asrequired bylaw.Forward -Looking Statements