Precision BioSciences to Receive $13 Million in Proceeds from Maturity of Imugene Convertible Bond as Part of Azer-Cel Deal in August 2023 Page 1

Precision BioSciences, Inc. (Nasdaq: DTIL), an advanced gene editing company leveraging its novel proprietary ARCUS platform to develop in vivo gene editing therapies for advanced gene editing including gene knockout, gene insertion and gene excision, today announced the maturity of a $13 million convertible note from its previously announced strategic transaction with Imugene Limited (ASX: IMU) for azercabtagene zapreleucel (azer-cel) in oncology. The proceeds to Precision BioSciences include $9.75 million in cash and $3.25 million in Imugene common stock.

“We are pleased that Imugene azer-cel continues to advance to a pivotal trial in LBCL for patients with significant unmet need,” said Michael Amoroso, President and Chief Executive Officer of Precision BioSciences. “This marks one year since our strategic decision to focus our internal programs exclusively on in the flesh gene editing and further strengthens our balance sheet, enabling us to generate Phase 1 clinical data across multiple in the flesh gene editing programs starting in the first half of 2025. In the near term, we are focused on advancing our pipeline toward the clinic and remain on track to submit applications to multiple global regulatory agencies for PBGENE-HBV for chronic hepatitis B later this year.”