Mesoblast Investor Presentation — August 2022

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Global Leader in Allogeneic Cellular Medicines

for Inflammatory Diseases

Operational Highlights & Financial Results for the

Year Ended June 30, 2022

ASX: MSB; Nasdaq: MESOCAUTIONARY NOTE REGARDING FORWARD -LOOKING STATEMENTS

Thispresentation includes forward -looking statements that relate tofuture events orourfuture financial performance andinvolve known andunknown risks, uncertainties andother factors that maycause ouractual

results, levels ofactivity, performance orachievements todiffer materially from anyfuture results, levels ofactivity, performance orachievements expressed orimplied bythese forward -looking statements .Wemake

such forward -looking statements pursuant tothesafeharbor provisions ofthePrivate Securities Litigation Reform Actof1995 andother federal securities laws.Allstatements other than statements ofhistorical facts

contained inthispresentation areforward -looking statements .Words such as,butnotlimited to,“believe,” “expect,” “anticipate,” “estimate,” “intend,” “plan,” “targets,” “likely,” “will,” “would,” “could,” andsimilar

expressions orphrases identify forward -looking statements .Wehave based these forward -looking statements largely onourcurrent expectations andfuture events ,recent changes inregulatory laws, andfinancial

trends that webelieve may affect our financial condition, results ofoperation, business strategy andfinancial needs .These statements may relate to,butarenotlimited to:expectations regarding thesafety or

efficacy of,orpotential applications for,Mesoblast's adult stem celltechnologies ;expectations regarding thestrength ofMesoblast's intellectual property, thetimeline forMesoblast's regulatory approval process, andthe

scalability andefficiency ofmanufacturing processes ;expectations about Mesoblast's ability togrow itsbusiness andstatements regarding itsrelationships with current andpotential future business partners andfuture