STOCK PURCHASE AGREEMENT

THIS Stock Purchase Agreement (the “Agreement”) is entered into as of November 12, 2026, by and among Lineage Cell Therapeutics, Inc., a California corporation (“Buyer”), and the stockholders of the Company (as defined below) set forth on the signature page hereto (the “Sellers”), and Leslie Thompson, as the representative of the Sellers (the “Sellers’ Representative”). Buyer, the Sellers and the Sellers’ Representative are sometimes individually referred to herein as a “Party” and collectively as the “Parties.” To the extent that capitalized terms are not defined in the text hereof, such terms shall have the meanings set forth in Exhibit A hereto.

RECITALS

WHEREAS, the Sellers collectively own 100% of the issued and outstanding shares of common stock (the “Shares”) of NeuroAirmid Therapeutics, Inc., a Delaware corporation (the “Company”);

WHEREAS, the Parties desire to enter into this Agreement pursuant to which, at the Closing, among other things, Buyer shall purchase from the Sellers, and the Sellers shall sell to Buyer, all of the Shares, such that immediately upon the Closing, Buyer shall own 100% of the Shares (such purchase and sale, the “Acquisition”); and

WHEREAS, the Company and the Sellers have approved this Agreement, the Ancillary Agreements and the other agreements and transactions contemplated hereby and thereby.

Now Therefore, in consideration of the premises and the mutual promises herein made, and in consideration of the representations, warranties and covenants herein contained and other good and valuable consideration, the sufficiency of which is hereby agreed by the Parties, the Parties agree as follows:

Each Seller, severally and not jointly, with respect to himself, herself or itself, represents and warrants to Buyer as follows:

Subject to any exceptions that are expressly and specifically set forth in the disclosure schedule (it being agreed that disclosures in any section of the disclosure schedule shall qualify (i) the representations and warranties set forth in the corresponding section of this Agreement and (ii) the representations and warranties in any other section of this Agreement to the extent that the relevance of such disclosure to such other representation or warranty is reasonably apparent on its face) delivered by the Sellers to Buyer concurrently with the execution and delivery of this Agreement (the “Disclosure Schedule”) each Seller, severally and not jointly, represents and warrants to Buyer as of the date of this Agreement (other than representations and warranties that are made as of a specific date which are made only as of such date) that:

Buyer represents and warrants to each Seller as of the date hereof (other than representations and warranties that are made as of a specific date which are made only as of such date) that:

“THE SECURITIES REPRESENTED HEREBY HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED, OR UNDER THE SECURITIES LAWS OF ANY STATE, AND MAY NOT BE OFFERED, SOLD OR OTHERWISE TRANSFERRED, ASSIGNED, PLEDGED, OR HYPOTHECATED EXCEPT AS PERMITTED UNDER THE ACT AND APPLICABLE STATE SECURITIES LAWS, PURSUANT TO REGISTRATION OR EXEMPTION THEREFROM. THE ISSUER OF THESE SECURITIES MAY REQUIRE AN OPINION OF COUNSEL IN FORM AND SUBSTANCE SATISFACTORY TO THE ISSUER TO THE EFFECT THAT ANY PROPOSED OFFER, SALE OR

OTHER TRANSFER, ASSIGNMENT, PLEDGE, OR HYPOTHECATION IS IN COMPLIANCE WITH THE ACT AND ANY APPLICABLE STATE SECURITIES LAWS.

THE SECURITIES REPRESENTED HEREBY ARE SUBJECT TO RESTRICTIONS ON TRANSFER UNDER THAT CERTAIN STOCK PURCHASE AGREEMENT, DATED AS OF NOVEMBER 12, 2026, BY AND BETWEEN LINEAGE CELL THERAPEUTICS, INC. AND THE OTHER PARTIES THERETO (THE “PURCHASE AGREEMENT”). NO TRANSFER, SALE, ASSIGNMENT, PLEDGE, HYPOTHECATION OR OTHER DISPOSITION OF THESE SECURITIES MAY BE MADE EXCEPT IN ACCORDANCE WITH THE PROVISIONS OF THE PURCHASE AGREEMENT.”

“A general release does not extend to claims that the creditor or releasing party does not know or suspect to exist in his or her favor at the time of executing the release and that, if known by him or her, would have materially affected his or her settlement with the debtor or released party.”

Each Releasor represents that it has not made any assignment, conveyance or transfer of any kind of any claim released pursuant to this Section 8.4, and acknowledges and intends that this Section 8.4 shall be effective as a bar to each claim released hereby.

If to the Sellers, to the Sellers’ Representative at the address set forth below, or, for any notice required to be given directly to an individual Seller, to the address set forth on such Seller’s signature page attached hereto.

If to the Sellers’ Representative:

Leslie Thompson

[***]

[***]

Attn: [***]

Email: [***]

with a copy (which shall not constitute notice) to:

Pierce Atwood, LLP
100 Summer Street, Suite 2250
Boston, Massachusetts 02110

Attn: Sarah McGarrell
Email: smcgarrell@pierceatwood.com

If to Buyer:

Lineage Cell Therapeutics, Inc.

2173 Salk Avenue, Suite 200
Carlsbad, California 92008

Attention: Chief Executive Officer and General Counsel

Email: [***]

with a copy (which shall not constitute notice) to:

Sheppard Mullin Richter & Hampton LLP

12275 El Camino Real, Suite 100

San Diego, California 92130

Attention: Edwin Astudillo

Email: eastudillo@sheppard.com

Any such notice shall be deemed to have been given (a) when delivered by hand; (b) on the Business Day after the date sent if sent by a nationally recognized overnight courier for overnight delivery; (c) on the date sent by e-mail (with confirmation of transmission) if sent during normal business hours of the recipient, and on the next Business Day if sent after normal business hours of the recipient; or (d) on the third day after the date mailed, by certified or registered mail, return receipt requested, postage prepaid.

[Signature Page Follows]

IN WITNESS WHEREOF, the Parties hereto have executed this Agreement as of the date first above written.

IN WITNESS WHEREOF, the Parties hereto have executed this Agreement as of the date first above written.

Exhibit A
Definitions

“Actual Fraud” means actual and intentional common law fraud under Delaware law. For the avoidance of doubt, “Actual Fraud” shall not include reckless, constructive, negligent or any other theory of non-intentional or implied fraud.

“Affiliate” has the meaning set forth in Rule 12b‑2 of the regulations promulgated under the Securities Exchange Act of 1934, as amended.

“Ancillary Agreements” mean the Disclosure Schedule, the Consulting Agreements, the Non-Competition Agreements, and any other documents, agreements, certificates, schedules or other instruments contemplated by any of the foregoing or this Agreement.

“A&R UC License” means an amended and restated exclusive license agreement (or equivalent) intended to supersede the UC License, in substantially the form set forth on Exhibit F.

“Bank Engagement Letter Termination Agreement” means the agreement between the Company and Five Star Bank that, among other things, terminates the letter agreement dated December 12, 2024 from Five Star Bank to the Company executed by the Bank on March 26, 2025 and accepted by the Company on March 27, 2025, in a form reasonably satisfactory to Buyer.

“Benefit Plan” means any (i) plan, fund, program, agreement, policy or arrangement (written or oral) for the benefit of any current or former employee, director, officer or consultant (or their spouses or dependents) of the Company, including those that provide executive compensation, deferred or incentive compensation, compensation, bonus, commission, pension, profit-sharing, stock-related rights (including, but not limited to, stock bonus, stock option, stock purchase, restricted stock and restricted stock units), termination, salary continuation, employee assistance, supplemental retirement, severance, vacation, sickness, disability, death, material fringe benefit, insurance (including any self-insured arrangements), health or medical, worker’s compensation, supplemental unemployment benefits, post-employment or retirement benefits (including compensation, pension, health, medical or life insurance benefits) or other benefits; and (ii) Employee Pension Benefit Plan and Employee Welfare Benefit Plan (in each case, as such terms are defined in Section 3 of the Employee Retirement Income Security Act of 1974, as amended).

“Business Day” means any day of the year other than a Saturday, Sunday or any other day on which national banking institutions are authorized or obligated to close under the Laws of California.

“Buyer Agreed Expenses” shall mean (i) both of the Closing Conversion Payments (as such term is defined in the CIRM SAFE Termination Agreement) under the CIRM SAFE Termination Agreement, (ii) the [***] Payment (as such term is defined in the CIRM SAFE Termination Agreement) under the [***] Termination Agreement, and (iii) the license issue fee payable by Licensee pursuant to Paragraph 5.1 of the A&R UC License.

“Buyer Closing Stock Price” means the volume-weighted average price per share for Buyer Common Stock during Regular Trading Hours as reported by Bloomberg L.P. [***] (as appropriately adjusted for any stock splits, stock dividends or similar transactions). [***]

“Buyer Common Stock” means the common shares of Buyer.

“Buyer Future Stock Price” means the volume-weighted average price per share for Buyer Common Stock during Regular Trading Hours, as reported by Bloomberg L.P. [***] (as appropriately adjusted for any stock splits, stock dividends or similar transactions). [***]

“Buyer Material Adverse Effect” means any change, event, condition, circumstance, effect or occurrence (whether individually or in the aggregate with other changes, events, circumstances, effects or occurrences) that (a) has had or could reasonably be expected to have a material adverse effect on the assets, results of operations, condition (financial or otherwise), prospects or business of Buyer, taken as a whole, or (b) does or could reasonably be expected to materially impair or delay Buyer’s ability to consummate the Transactions, but shall not include any adverse effect to the extent resulting from or relating to (i) the economy or financial, banking or securities markets in the United States in general, (ii) national or international political or social conditions, including acts of terrorism and the engagement by the United States in hostilities, or (iii) any U.S. Government shutdown; provided that none of the events set forth in items (i), (ii) or (iii) shall have had a disproportionate effect on Buyer, taken as a whole, relative to participants in the industries in which Buyer participates.

“Buyer SEC Documents” means all forms, reports, schedules, statements and other documents, including any exhibits thereto, required to be filed by Buyer under the Exchange Act with SEC, together with any amendments, restatements or supplements thereto.

“CIRM” means California Institute for Regenerative Medicine.

“CIRM Awards” means, collectively, Award Nos. TR2-01841, PC1-08117, CLIN1-10953, DISC2-09569 and CLIN2-18595, each of which was granted by CIRM to The Regents.

“CIRM SAFE” means that certain simple agreement for future equity issued by the Company to CIRM in exchange for the payment by CIRM of $[***] on or about April 2, 2026.

“CIRM SAFE Termination Agreement” means a written agreement between the Company and CIRM pursuant to which each of the CIRM SAFE and the letter agreement dated April 2, 2026 related to the CIRM SAFE is terminated in their entirety as of the Closing with no liability of any party thereto, which agreement shall include mutual releases of all claims arising under or in connection with the CIRM SAFE and such letter agreement and a representation by each party thereto that no rights, obligations or liabilities survive such termination, in a form satisfactory to Buyer.

“Closing Cash” means (a) all unrestricted cash and cash equivalents (including marketable securities, checks, bank deposits, and short term investments) of the Company and restricted cash but only to the amount in excess of the restriction, plus (b) checks, wires, and drafts received by the Company but not yet cleared, minus (c) checks, wires, and drafts issued but not yet cashed or deducted, in each case, as of 11:59 p.m. Pacific Time on the Closing Date.

“Closing Consideration” means (a) $5,000,000, minus (b) the Unpaid Sellers’ Transaction Expenses, minus (c) Closing Indebtedness, minus, (d) the Expense Fund, plus (e) Closing Cash.

“Closing Indebtedness” means (a) total outstanding Indebtedness of the Company as of 11:59 p.m. Pacific Time on the Closing Date and (b) Unpaid Pre-Closing Taxes.

“Closing Stock Consideration” means the shares of Buyer Common Stock that Buyer determines to issue to the Sellers as part of the Closing Consideration in accordance with Section 1.3(d)(i).

“Code” means the Internal Revenue Code of 1986, as amended.

“Company Confidential Information” means any information concerning the Company or its business or assets that is proprietary or not generally available to the public, including know-how, Trade Secrets, its Contracts, operational methods and marketing plans or strategies, and any information disclosed to the Company by third parties to the extent that the Company has an obligation of confidentiality in connection therewith.

“Company Intellectual Property” means all Intellectual Property that is used or held for use in connection with the operation of the business of the Company, including all Owned Intellectual Property and Licensed Intellectual Property.

“Company IP Agreements” means any Contract, consent, settlement, or Order to which the Company is a party or by which it is bound that relates to any Intellectual Property, including: (a) any license of, option to license or covenant not to sue or assert with respect to, any Owned Intellectual Property or other Intellectual Property used in or necessary to the operation of business of the Company, granted by the Company to any third party, or pursuant to which any third party has obtained any right, title or interest in any such Intellectual Property; (b) any license or sublicense, or other permissions or agreements pursuant to which the Company has obtained any right, title or interest in any Intellectual Property owned or controlled by a third party, including all agreements pursuant to which Licensed Intellectual Property is made available to the Company; (c) any agreement between the Company and any third party relating to the use, development, prosecution, enforcement or commercialization of any Intellectual Property used in or necessary to the operation of the business of the Company; and (d) any consent, settlement or Order governing the use, validity or enforceability of any Owned Intellectual Property.

“Company IT Assets” means any and all IT Assets used or held for use in connection with the operation of the business of the Company as previously conducted, as currently conducted or as currently proposed to be conducted.

“Company Material Adverse Effect” means any change, event, condition, circumstance, effect or occurrence (whether individually or in the aggregate with other changes, events, circumstances, effects or occurrences) that (a) has had or could reasonably be expected to have a material adverse effect on the assets, results of operations, condition (financial or otherwise), prospects or business of the Company, taken as a whole, or (b) does or could reasonably be

expected to materially impair or delay the Company’s or any Seller’s ability to consummate the Transactions, but shall not include any adverse effect to the extent resulting from or relating to (i) the economy or financial, banking or securities markets in the United States in general, (ii) national or international political or social conditions, including acts of terrorism and the engagement by the United States in hostilities, or (iii) any U.S. Government shutdown; provided that none of the events set forth in items (i), (ii) or (iii) above shall have had a disproportionate effect on the Company, taken as a whole, relative to participants in the industries in which the Company participates.

“Company Product” means each cell therapy product developed, licensed, leased, offered, made available, or delivered by the Company, or that the Company is formulating, manufacturing, processing, producing, packaging, transporting, labeling, storing, distributing, marketing or selling, developing, licensing, leasing, offering, making available, or delivering, and including any products currently under research use only, preclinical or clinical development by the Company, including hNSC-01.

“Company Securities” means securities of the Company, including all shares of the Company’s capital stock, all options, all warrants, all equity and equity interests, and all other securities that are convertible into, or exercisable or exchangeable for, securities of the Company.

“Confidential Information” means (a) this Agreement and the Ancillary Agreements and the documents and instruments contemplated hereby and thereby, the terms and conditions hereof and thereof, and the transactions contemplated hereby and thereby, and any information obtained in connection with this Agreement, including information regarding the negotiations of this Agreement, and (b) all Company Confidential Information.

“Consulting Seller” means each of Leslie Thompson, John Reidling, and Yuna Muyshondt.

“Contract” means any agreement, contract, commitment, indenture, note, mortgage bond, lease, license, deed of trust, lease, rental agreement, sales order, purchase order, subcontract, teaming agreement, pledge agreement, noncompetition agreement, insurance contract and any other contract or binding arrangement, whether written or oral.

“Exchange” means the national securities exchange on which the Buyer Common Stock is then listed (as of the date of this Agreement, NYSE American LLC).

“Damages” means all damages, penalties, fines, Taxes, amounts paid in settlement, liabilities, losses, costs and expenses, including court costs and reasonable attorneys’ fees and expenses, and including any diminution in the value of the Company or the Shares; provided that, Damages shall not include punitive, exemplary, special, consequential or indirect damages, speculative (as opposed to actually proven) loss of anticipated or future income, revenue or profits, loss of reputation, opportunity costs, or damages based on any “multiple of EBITDA,” “multiple of profits,” “multiple of cash flow,” or other similar valuation methodology, in each case, unless actually paid to a third party in connection with a claim or demand asserted by a third party; provided further that nothing in this definition shall limit or exclude the recovery by the Sellers of any Milestone Payment, the First Anniversary Payment or any other portion of the Purchase Price that has actually become due and payable in accordance with Section 1.3, Section 2.2 or Section 2.5, all of which shall constitute direct damages; and provided further that none of the foregoing exclusions in this definition shall apply to, or in any way limit the recovery of Damages arising from, any claim for Actual Fraud or willful misconduct.

“Equitable Principles” means (a) bankruptcy, insolvency, reorganization, moratorium and similar Laws, now or hereafter in effect, in each case, affecting creditors’ rights and remedies generally, and (b) general principles of equity (regardless of whether enforcement is sought in a Proceeding at law or in equity).

“Expense Fund” means $200,000, which amount shall be withheld from the Closing Consideration and paid to the Sellers’ Representative at the Closing in accordance with Section 1.3(a)(v), to be held and disbursed by the Sellers’ Representative in accordance with Section 11.5.

“Exchange Act” means the Securities Exchange Act of 1934, as amended, and the rules and regulations promulgated thereunder.

“FDA” means the U.S. Food and Drug Administration.

“FDA Fraud Policy” means the “Fraud, Untrue Statements of Material Facts, Bribery, and Illegal Gratuities” Final Policy set forth in 56 Fed. Reg. 46,191 (September 10, 1991) and any amendments thereto.

“First Anniversary Payment” means $5,000,000.

“Founder Loans” means the payment obligations of the Company to those Sellers and in such amounts as set forth in Section 4.6(d) of the Disclosure Schedule.

“Fundamental Representations” are the representations and warranties contained in the following Sections: 4.1 (Organization, Qualifications and Corporate Power), 4.3 (Capitalization), 4.4 (Subsidiaries; Joint Ventures), 4.12 (Intellectual Property), 4.18 (Certain Business Relationships), 4.20 (No Other Agreements to Sell), 4.21 (Brokers), and 4.22 (FDA and Regulatory Matters).

“GAAP” means United States generally accepted accounting principles as in effect from time to time.

“Governing Documents” means, with respect to a particular Person (other than a natural person), the certificate/articles of formation/incorporation/organization, bylaws, partnership agreement, limited liability company agreement, trust agreement or other similar organizational document or agreement, as applicable, of such Person.

“Governmental Entity” means any government or any agency, bureau, board, commission, court, department, official, political subdivision, tribunal or other instrumentality of any government, whether federal, state or local, domestic or foreign, as well as any corporations owned or chartered by any such governmental agency, bureau, board, commission, court, department, official, political subdivision, tribunal or other instrumentality.

“Healthcare Laws” means, to the extent applicable to the conduct of the Company’s business, as applicable, the following: (a) the Clinical Laboratory Improvement Amendments of 1988 (“CLIA”), the Federal Food, Drug, and Cosmetic Act (21 U.S.C. § 301 et seq.), the Public Health Service Act (42 U.S.C. § 201 et seq.), the coverage and reimbursement provisions of Medicare (Title XVIII of the Social Security Act) and Medicaid (Title XIX of the Social Security Act) and other government healthcare programs, including the Veterans Health Administration and the U.S. Department of Defense healthcare and contracting programs, the federal Anti-Kickback Statute (42 U.S.C. § 1320a-7b(b)), the Civil Monetary Penalties Law (42 U.S.C. § 1320a-7a), the civil False Claims Act (31 U.S.C. §§ 3729 et seq.), the administrative False Claims Law (42 U.S.C. § 1320a-7b(a)), the Health Insurance Portability and Accountability Act of 1996 (42 U.S.C. § 1320d et seq.), including the criminal provisions thereunder, as amended by the Health Information Technology for Economic and Clinical Health Act (42 U.S.C. §§ 17921 et seq.) and the exclusion laws (42 U.S.C. § 1320a-7), the Sunshine/Open Payments Law (42 U.S.C. § 1320a-7h), and any other U.S. federal or state Law that regulates the design, development, testing, studying, manufacturing, processing, transporting, storing, importing or exporting, licensing, labeling or packaging, advertising, distributing, selling or marketing of any Company Product, or that is related to remuneration (including ownership) to or by physicians or other healthcare providers (including kickbacks) or the disclosure or reporting of the same, recordkeeping, the hiring of employees or acquisition of services or supplies from those who have been excluded from government healthcare programs, quality, safety, privacy, security, licensure, accreditation or any other aspect of providing healthcare products or services; (b) all equivalent or similar Laws in any jurisdiction applicable to the Company or any Company Product; and (c) all regulations and guidance documents promulgated pursuant to such Laws.

“Indebtedness” means, with respect to any Person, without duplication, any obligations (including principal, premium, accrued interest, reimbursement or indemnity obligations, bonds, financing arrangements, prepayment and other penalties, breakage fees, sale or liquidity participation amounts, commitment and other fees and related expenses) of, and all other amounts payable by, such Person and its Subsidiaries on a consolidated basis, in connection therewith (a) in respect of borrowed money, whether current or funded, secured or unsecured, or evidenced by bonds, notes, debentures or similar instruments (convertible or otherwise) or letters of credit (or reimbursement agreements in respect thereof), including factoring arrangements or asset securitizations, and all liabilities in respect of mandatorily redeemable or purchasable share capital or securities convertible into share capital; (b) representing foreign exchange Contracts, interest rate cap agreements, interest rate swap agreements, interest rate and currency swap arrangements, foreign currency exchange agreements or any other derivative or hedging contracts or arrangements designed to provide protection against fluctuations in interest or currency rates (in each case, valued at the termination cost thereof) (including breakage costs); (c) under conditional sale, title retention or other agreements or arrangements with respect to the deferred purchase price of any property, assets or services (including earn-outs and other contingent payments); (d) in respect of earn-out, contingent purchase price, deferred purchase price, or similar type payments with respect to the acquisition of another Person or property; (e) all indebtedness under leases of (or other arrangements conveying the right to use) real or personal property, or a combination thereof, that are required to be capitalized or classified and accounted for under GAAP as capital leases; (f) in respect of accrued or declared but unpaid dividends or other distributions; (g) for any customer deposits or deferred revenue (whether short-term or long-term), including customer overpayments; (h) all costs to fulfill such customer deposits or deferred revenue; (i) for any accrued or informally tracked but unpaid deferred compensation, employee bonuses, severance,

paid time off or similar payments (whether such payments are discretionary or mandatory), together with the employer’s share of payroll, social security, unemployment or similar Taxes attributable to such obligations (determined as though such obligations were payable as of the Closing); (j) for any accrued but unpaid Tax liabilities, including any Unpaid Pre-Closing Taxes; (k) in respect of any accrued but unfunded or under-funded contributions to any 401(k) plan or profit sharing plan (together with the employer portion of payroll, social security, unemployment or similar Taxes attributable to such obligations); (l) with respect to payroll liabilities and benefits accrued as of the Closing, plus the employer’s share of payroll, social security, unemployment and other Taxes associated with such payments (determined as though such obligations were payable as of the Closing), in each case to the extent not otherwise included in clauses (i) or (k) above; (m) all obligations secured by any Lien (other than Permitted Liens) on any assets or equity interests of such Person or its Subsidiaries; (n) the outstanding and past due balances under credit cards issued to the Company; (o) any off-balance sheet financing; (p) for the reimbursement of any obligor on any letter of credit, banker’s acceptance or similar credit transaction securing obligations of a type described in clauses (a) through (o) above to the extent of the obligation secured; (q) any unpaid but due or past due license maintenance fees, patent prosecution costs, and milestone payments under the UC License; (r) all accrued interest, fees and prepayment penalties on the items described in clauses (a) through (q) above; and (s) all obligations referred to in clauses (a) through (r) above of another Person that are guaranteed, directly or indirectly, by such Person or its Subsidiaries or are secured by any Lien on property or assets of such Person or its Subsidiaries, to the extent of the obligation guaranteed or secured. Notwithstanding the foregoing, “Indebtedness” shall not include any item of Transaction Expenses to the extent, and solely to the extent, such item is actually included in the calculation of Unpaid Sellers’ Transaction Expenses.

“Intellectual Property” means all of the following intellectual property rights existing worldwide: (a) rights in inventions, patents, patent applications, continuations-in-part, divisions or reissues; (b) trademarks, service marks, trade dress, and trade names, pending applications to register the foregoing, and common law trademarks, service marks and trademarks, designs, logos, and other designations of origin, together with the goodwill symbolized thereby; (c) any and all rights in works of authorship (whether or not copyrightable) including but not limited to registered copyrights in both published works and unpublished works, unregistered copyrights in both published works and unpublished works, and applications to register copyrightable works of authorship; (d) trade secrets, including, confidential or proprietary business information, know-how, concepts, methods, processes, specifications, inventions, formulae, reports, data, customer lists, mailing lists, business plans, or other material proprietary information (collectively, “Trade Secrets”); (e) all registered domain names; (f) all rights in software, including object code, source code, proprietary algorithms, and related databases and instruction manuals (collectively, “Software”); and (g) all similar intellectual property and proprietary rights.

“IRS” means the United States Internal Revenue Service.

“IT Assets” means Software (including object code, binary code, source code, libraries, routines, subroutines or other code, and including commercial, open-source and freeware software), IT Systems, servers, computers, hardware, firmware, middleware, networks, data communications lines, routers, hubs, switches and all other information technology equipment, and all associated documentation.

“IT Systems” means any and all electronic data processing, information, recordkeeping, communications, telecommunications, operating, account management, inventory management, and all other computer or information technology systems, equipment and assets, including related documentation, materials, media and specifications, that are owned, purported to be owned, contracted for, licensed, leased, used or held for use by the Company, including any and all such (a) computers, software, hardware, servers, peripherals, routers, hubs, switches, circuits, networks, data communications lines, telecommunications equipment and infrastructure and other technology-related plants and equipment, including databases, workstations, switches, and communication facilities; (b) websites and web pages, social media sites and social media pages, applications (including mobile applications), and application programming interfaces (APIs), including all related content of the foregoing, including data, data files, programs, scripts, design, layout, text, graphics, images, animation and sound; and (c) cloud services and infrastructure, such as software as a service (SaaS), platform as a service (PaaS) or infrastructure as a service (IaaS).

“Knowledge” means that which is known by a Person after due inquiry. In the case of the Sellers, “Knowledge” means the “Knowledge” of each Seller. In the case of Buyer, “Knowledge” means the “Knowledge” of each of [***].

“Law” means all foreign, federal, state, provincial and local laws, statutes, codes, ordinances, rules, regulations, guidance, resolutions, and Orders, in each case, promulgated by any Governmental Entity or quasi-Governmental Entity.

“Licensed Intellectual Property” means Intellectual Property licensed to the Company pursuant to the Company IP Agreements.

“Lien” means any mortgage, pledge, lien, encumbrance, security interest, deed of trust, collateral assignment, Uniform Commercial Code financing statement, conditional or other sales agreement, hypothecation, claim, option, right of first refusal, preemptive right, community property interest, restriction of any nature, and other encumbrance on or ownership interests in the assets or properties of the Company or the Shares (including any restriction on the voting of any security, any restriction on the transfer of any security or other asset, any restriction on the possession, exercise or transfer or any other attribute of ownership of any asset), as applicable, other than, with respect to the Shares, restrictions on transfer arising under applicable state or federal securities laws.

“Order” means any order, injunction, judgment, decree, award, determination, decision, ruling, verdict, writ, assessment or arbitration or other award of a Governmental Entity or arbitrator.

“Ordinary Course of Business” means the ordinary and usual course of business of the Company consistent with past practices.

“Owned Intellectual Property” means the Intellectual Property owned or purported to be owned by the Company.

“Permits” means all franchises, permits, clearances, licenses, variances, exemptions, Orders, approvals, registrations and any similar authorizations.

“Permitted Liens” means (a) any Lien for Taxes, assessments or other governmental levies, fees or charges which are not due and payable as of the Closing Date or being contested in good faith by appropriate Proceedings and for which appropriate reserves have been established in accordance with GAAP; and (b) mechanics Liens and similar Liens for labor, materials or supplies provided with respect to real property incurred in the Ordinary Course of Business for amounts which are not due and payable and which shall be paid in full and released at Closing.

“Person” means any individual, partnership, corporation, limited liability company, association, joint stock company, trust, joint venture, unincorporated organization, Governmental Entity, or other entity.

“Pre-Closing Tax Period” means any taxable period ending on or before the Closing Date and, with respect to any Straddle Period, the portion of such Straddle Period ending on and including the Closing Date.

“Privacy and Security Laws” means all (a) applicable Laws concerning the privacy, data protection, processing, transfer or security of Protected Information, including the following and their implementing regulations, if and to the extent applicable: Health Insurance Portability and Accountability Act (HIPAA), the Federal Trade Commission Act, the CAN-SPAM Act, Canada’s Anti-Spam Legislation, the Telephone Consumer Protection Act, the Telemarketing and Consumer Fraud and Abuse Prevention Act, the Children’s Online Privacy Protection Act, data security applicable Laws, including those established by the California Consumer Privacy Act, Massachusetts Data Privacy Act, data breach notification applicable Laws, consumer protection applicable Laws, the General Data Protection Regulation (EU) 2016/679, the European Union Data Protection Directive 95/46/EC (and implementing regulations adopted by applicable European Union member states); (b) all Contracts to which the Company is a party or is otherwise bound to the extent relating to Protected Information or protecting the security or privacy of information or IT Systems; (c) the Company’s internal and posted policies and notices relating to Protected Information and/or the privacy and security of the Company’s products, data, and IT Systems; (d) any applicable Laws concerning requirements for website and mobile application privacy policies and practices, call or electronic monitoring or recording or any outbound communications (including outbound calling and text messaging, telemarketing, and e-mail marketing).

“Proceeding” means any judicial, administrative or arbitral action, suit, claim, demand, complaint, charge, audit, hearing, review, investigation or other proceeding, whether public or private, by or before a Governmental Entity or arbiter.

“Program” means the research, development, manufacture and commercialization of the Product Candidate and/or any Derivative in the Field, whether conducted by or on behalf of Buyer, the Company, or any of their respective Affiliates, licensees or sublicensees. Where the context refers to a sale, transfer or other disposition of the

Program, the term also includes all rights, assets, Permits, regulatory filings (including IND 29720), data and Contracts that are owned or controlled by Buyer, the Company or any of their respective Affiliates and that are necessary for, or primarily used in, those activities. For the avoidance of doubt, “Program” does not include any other program or product candidate of Buyer or its Affiliates that is not the Product Candidate or a Derivative.

“Pro Rata Share” means, with respect to each Seller, the percentage set forth under the heading “Pro Rata Share” on the Payment Schedule, which percentage shall be the aggregate number of Shares owned by such Seller as of the Closing, divided by all of the Shares.

“Protected Information” means any information, in any form, that (a) is personally identifying (i.e., data that identifies an individual or, in combination with any other information or data available to the Company, is capable of identifying an individual); or (b) is considered personal data or otherwise governed, regulated or protected by one or more Privacy and Security Laws.

“Registered Intellectual Property” means any Owned Intellectual Property that is the subject of an application, certificate, filing, registration or other document issued by, filed with, or recorded by, any Governmental Entity at any time.

“Related Persons” means any director, officer, consultant, employee or Affiliate of the Company, any Seller or any Affiliate of any of the foregoing.

“Regular Trading Hours” means, for any trading day, the period beginning at the official open of the regular trading session of the Exchange and ending at the official close of the regular trading session of the Exchange on such day (i.e., excluding any pre-market or after-hours/extended-hours trading session), currently 9:30 am Eastern Time through 4:00 pm Eastern Time, or such other hours as may be determined by the Exchange from time to time.

“Representatives” means, with respect to any Person, such Person’s directors, managers, officers, employees, consultants, counsel, accountants, and other representatives.

“SEC” means the U.S. Securities and Exchange Commission.

“Securities Act” means the Securities Act of 1933, as amended, and the rules and regulations promulgated thereunder.

“[***] Agreement” means that certain Stock Redemption Agreement, dated as of November 24, 2025, entered into between [***], and the Company.

“[***] Termination Agreement” means a written agreement executed by [***] and the Company pursuant to which the [***] Agreement is terminated in its entirety as of the Closing with no liability of any party thereto, which agreement shall include mutual releases of all claims arising under or in connection with the [***] Agreement and a representation by each party thereto that no rights, obligations or liabilities survive such termination, in a form satisfactory to Buyer.

“Shellwater” means Shellwater & Co., one of the Sellers.

“Stockholder and Indemnification Matters” means (a) any claim by any Person asserting, alleging or seeking to assert rights with respect to Company Securities, in each case except for the right, following the Closing and in compliance with the terms of this Agreement, of the Sellers to receive the Purchase Price; and (b) any claim by any Person who is or at any time was, or alleges to be or have been, an officer, director, employee or agent of the Company against the Company, Buyer or any Affiliate of the Company or Buyer involving a right or entitlement or an alleged right or entitlement to indemnification, reimbursement of expenses or any other relief or remedy (under any of the Governing Documents of the Company, including prior versions thereof, under any Contract, any Law or otherwise) with respect to any act or omission on the part of such Person or any event or other circumstance that arose, occurred or existed at or prior to the Closing or otherwise related to the Transaction.

“Straddle Period” means any taxable period beginning on or before the Closing Date and ending after the Closing Date.

“Subsidiary” means any Person (including any joint venture) of which any outstanding share capital, voting securities or other equity interests is owned, directly or indirectly.

“Tax” and “Taxes” means (a) all taxes, charges, fees, levies, penalties or other assessments imposed by any federal, state, local or foreign taxing authority, including but not limited to, income, gross receipts, excise, property,

escheat, abandoned or unclaimed property, sales, use, transfer, net worth, franchise, environmental, payroll, withholding, employment, real property, value added, alternative or add-on minimum, estimated, social security or other taxes including any interest, penalties or additions attributable thereto and (b) any liability for the payment of any amounts of the type described in clause (a) as a result of the application of Treasury Regulation Section 1.1502-6 or any comparable provision of state, local, or foreign Law, as a transferee or successor, by contract, or otherwise.

“Tax Return” means any declaration, return, report, information return or other document, including any schedule or attachment thereto, and including any amendment thereof, relating to Taxes filed with any Tax authority or other Governmental Entity or required to be provided to any Person.

“Taxing Authority” means any Governmental Entity having jurisdiction over the assessment, determination, collection or imposition of any Tax.

“The Regents” means The Regents of the University of California, an instrumentality of the State of California.

“Transaction Expenses” means all fees, costs and expenses (whether or not billed or invoiced prior to the Closing) incurred by or on behalf of the Company or any Seller, in each case, required to be paid or reimbursed by the Company (whether or not such fees, costs and expenses are due upon notice or lapse of time or both and including benefits, severance, termination pay, time in lieu of pay and separation payments that may become payable in connection with termination of employment either at or following the Closing), including (a) all legal, accounting, tax, financial advisory, consulting and all other fees and expenses of third parties incurred in connection with the negotiation and effectuation of the terms and conditions of this Agreement and the Transaction; (b) any payments made or anticipated to be made by the Company as a brokerage or finders’ fee, agents’ commission or any similar charge in connection with the Transaction; (c) any other amounts paid or anticipated to be paid to third parties in connection with the Transaction, including with respect to any Consents, including any payment of a consent fee, “profit sharing” payment or other consideration, or increased rent payments or other payments under any Contract; (d) all costs and disbursements incurred in connection with the termination of any employment of an employee prior to the Closing Date (if any); (e) any severance, retention, bonus, consent fee, change-of-control or similar payment, profit sharing payment or other similar payment to any employee by the Company payable as a result of Closing or any of the other transactions contemplated hereby (whether before, on or after the Closing) under any Contract or pursuant to applicable Laws; (f) any Tax obligations of the Company with respect to forgiveness of Indebtedness owed to the Company (including any unamortized original issue discount, prepayment penalty, breakage fees, accelerated deferred financing fees, or other amounts treated as interest for federal income Tax purposes); (g) any increase of any benefits paid by the Company in connection with the Transaction over the amounts otherwise payable by the Company; and (h) all Taxes required to be paid in connection with the foregoing (including the employer’s portion of any wage or similar withholding Taxes); notwithstanding the foregoing, the Buyer Agreed Expenses shall not be Transaction Expenses.

“Transactions” means, collectively, the transactions contemplated under this Agreement and under the Ancillary Agreements.

“UC License” means that certain Exclusive License Agreement, dated May 28, 2024, by and between the Company and The Regents.

“Unpaid Pre-Closing Taxes” means all Pre-Closing Taxes that remain unpaid (including such Taxes that are accrued but not yet due and payable) as of 11:59 p.m. Pacific Time on the Closing Date, on a jurisdiction by jurisdiction and type by type basis, which may not be less than zero for any jurisdiction or type, and determined in a manner consistent with the past practices of the Company, except as otherwise required by applicable Law.

“Unpaid Sellers’ Transaction Expenses” means all Transaction Expenses that remain unpaid as of 11:59 p.m. Pacific Time on the Closing Date.

LINEAGE CELL THERAPEUTICS REPORTS THIRD QUARTER 2026 FINANCIAL RESULTS AND PROVIDES BUSINESS UPDATE

CARLSBAD, CA – November 12, 2026 - Lineage Cell Therapeutics, Inc. (NYSE American and TASE: LCTX), a clinical-stage biotechnology company developing novel, allogeneic, “off the shelf”, cell therapies for serious medical conditions, today reported its third quarter 2026 financial and operating results. The Company will host a conference call today at 4:30 p.m. Eastern Time to discuss these results and to provide a business update.

“While our collaboration with Roche and Genentech for the development of the OpRegen cell therapy program for dry AMD with geographic atrophy continues to advance, we are focused on using our platform to build a diversified portfolio of additional allogeneic cell transplant programs,” stated Brian M. Culley, Lineage CEO. “Today, we closed the acquisition of NeuroAirmid Therapeutics adding HUNT1, a third clinical-stage asset to our development pipeline. HUNT1 is a pluripotent stem cell derived, clinical-stage neural cell therapy program, with the potential to validate a new cell-based treatment modality for Huntington’s Disease. When we evaluated this opportunity, what stood out was the substantial development work that had been completed, external capital had been invested, and we believed our manufacturing expertise could create significant additional value for this program. This transaction reflects the disciplined approach to capital allocation and strategic fit that we believe our investors have come to expect from Lineage. HUNT1 was created on the same proprietary cell line that Lineage uses and is compatible with its AlloSCOPE “5D” technology, providing us with a head start on our planned contributions. Leveraging our experience with this line and our capabilities in cell manufacturing, process development, and scale-up, we intend to deploy our resources to migrate the HUNT1 process to our AlloSCOPE manufacturing platform and to support the evolution of HUNT1 onto a commercially viable and scalable production system more suitable to supporting late-stage registrational trials in parallel with its ongoing clinical development. In addition, the ongoing REGEN4HD clinical trial of HUNT1 is supported in part by a CIRM grant, reducing our out-of-pocket development costs.”

Mr. Culley continued, “In addition to this exciting acquisition, we also strengthened our proprietary manufacturing position through the issuance of a U.S. patent covering our AlloSCOPE 5D technology. 5D is an approach which we believe may provide a differentiated solution to one of the most important challenges facing the allogeneic cell therapy industry: enabling commercially-scalable and consistent manufacturing of pluripotent cell-derived therapies. We recently deployed AlloSCOPE 5D to COR1, our wholly owned corneal endothelial cell therapy program, and expect initial preclinical data in the first quarter of 2027, demonstrating the speed, scalability, and

versatility of our development platform. We also continued to employ 5D technology to advance our ILT1 program, which ultimately may become a treatment for Type 1 Diabetes.”

“In parallel with supporting the development of the OpRegen cell therapy program through the production, release, and delivery of multiple GMP batches of clinical trial material, we are prioritizing other programs that we believe can generate meaningful data in early clinical trials, and which supports our plan to optimize capital allocation and accelerate value creation. By combining strategic business development, proprietary manufacturing technologies, and internally generated innovation, we believe we are building a differentiated pipeline and positioning Lineage to create sustainable long-term value for our shareholders.” concluded Mr. Culley.

Select Business Highlights

Balance Sheet Highlights

Cash, cash equivalents, and marketable securities of $45.2 million as of September 30, 2026 is expected to support planned operations into Q2 2028.

Third Quarter Operating Results

Revenues: Revenue is generated primarily from collaboration revenues, royalties, and other revenues. Total revenues for the three months ended September 30, 2026 were approximately $1.5 million, a net decrease of $2.2 million as compared to $3.7 million for the same period in 2025. The decrease was primarily due to lower collaboration revenue recognized from deferred revenues under the Roche Agreement, reflective of measured progress towards completion of the first performance obligation. Additionally, revenue from our research collaboration agreement with WDI was lower; both decreases were driven by fewer services provided in the current year.

Operating Expenses: Operating expenses are comprised of research and development (“R&D”) expenses and general and administrative (“G&A”) expenses. Total operating expenses for the three months ended September 30, 2026 were approximately $8.8 million, an increase of $1.3 million as compared to $7.5 million for the same period in 2025.

R&D Expenses: R&D expenses for the three months ended September 30, 2026 were $3.8 million, an increase of $0.5 million as compared to $3.3 million for the same period in 2025. The net increase was primarily driven by $0.8 million for our preclinical programs and other undisclosed programs and $0.5 million for our Resonance program, partially offset by $0.2 million for our OPC1 program and $0.6 million for our OpRegen program.

G&A Expenses: G&A expenses for the three months ended September 30, 2026 were $4.9 million, an increase of $0.7 million as compared to approximately $4.2 million for the same period in 2025. The net increase was primarily driven by personnel costs and stock-based compensation expense.

Loss from Operations: Loss from operations for the three months ended September 30, 2026 were $7.3 million, an increase of $3.5 million as compared to $3.8 million for the same period in 2025.

Other Income/(Expenses): Other income/(expenses) for the three months ended September 30, 2026 reflected other income of $12.0 million, compared to other expense of ($26.0) million for the same period in 2025. The net change was primarily attributable to the quarterly fair value non-cash remeasurement of the warrant liabilities driven by a decrease in our share price as compared to an increase in the prior year’s quarter.

Net Income/(Loss) Attributable to Lineage: The net income/(loss) attributable to Lineage for the three months ended September 30, 2026 was net income of $4.2 million, or $0.02 earnings per share (basic) and ($0.03) loss per share (diluted), compared to a net loss of ($29.8) million, or ($0.13) loss per share (basic and diluted), for the same period

in 2025. The change was primarily driven by the quarterly fair value non-cash remeasurement of the warrant liabilities.

Conference Call and Webcast

Interested parties may access today’s conference call by dialing (800) 715-9871
from the U.S. and Canada and should request the “Lineage Cell Therapeutics Call” (Conference ID: 6471629). A live webcast of the conference call will be available online in the Investors section of Lineage’s website. A replay of the webcast will be available on Lineage’s website for 30 days and a telephone replay will be available through November 19, 2026, by dialing (800) 770-2030 from the U.S. and Canada and entering conference ID number 6471629.

About the AlloSCOPE (Allogeneic, Scalable, Consistent, Off-the-shelf, Pluripotent Cell Engineering) Platform

The AlloSCOPE (Allogeneic, Scalable, Consistent, Off-the-shelf, Pluripotent Cell Engineering) platform highlights the key attributes of Lineage’s in-house technology and describes a differentiation and production modality from which Lineage can manufacture millions of doses of an allogeneic, cell-based product derived from a single initial pluripotent cell line, conferring consistent, cost-effective, and scalable cell-based production and which can be applied across multiple programs. From our proprietary AlloSCOPE platform, we successfully completed a current Good Manufacturing Practice (“cGMP”) production run from a custom, two-tiered cell banking system, featuring a genetically-stable master cell bank (MCB) created from a single, well-characterized pluripotent cell line, which generated a working cell bank (WCB), which then provided the source material for two final cell-based product candidates. AlloSCOPE “5D” describes an application of AlloSCOPE with the goal of higher scale production with reduced manipulation.

Allogeneic cell therapy product manufacturing generally involves three basic steps: (i) expansion of pluripotent cells; (ii) differentiation of cells into the desired cell type, and (iii) further expanding those cells prior to harvesting, filling and cryopreserving the final product. In cell therapy manufacturing, how cells are grown and organized during differentiation and/or expansion can affect their scalability, phenotype, process control, manufacturing cost, and the characteristics of the final product. In a 2D process, cells are typically grown as an adherent monolayer on a flat, coated surface, such as a culture flask or multilayer vessel. This method allows for close control of cell growth and morphology, but scaling generally requires increasing the number of culture vessels, which can add labor, facility space, cost, and process complexity. In a 3D process, cells are grown in a three-dimensional environment, often as aggregates or spheroids within a bioreactor. This method can support automation, higher cell densities, and greater scale from a smaller footprint, but requires a tradeoff of less control and loss of synchronization. Lineage’s AlloSCOPE 5D technology is the Company’s innovative process of merging 2D manufacturing with 3D scale. By creating 2D-like growth conditions within a controlled, scalable 3D environment, AlloSCOPE 5D is designed to address one of the central manufacturing challenges in large-scale cell therapy manufacturing, by harnessing the precision and uniformity advantages of 2D culture with the scalability, efficiency, and automation capabilities of 3D bioreactor systems, while simultaneously avoiding the scale limitations of 2D methods and unresolved challenges associated with aggregate-based 3D culture.

About Lineage Cell Therapeutics, Inc.

Lineage Cell Therapeutics is a clinical-stage biotechnology company developing novel allogeneic, or “off the shelf”, cell therapies for serious medical conditions. Lineage’s programs are based on its proprietary cell-based technology platform, AlloSCOPE™ (Allogeneic, Scalable, Consistent, Off-the-shelf, Pluripotent Cell Engineering), and associated development and manufacturing capabilities. From this proprietary AlloSCOPE platform, Lineage develops, manufactures, and tests specialized human cells with anatomical and physiological functions similar or substantially identical to cells found naturally in the human body. These cells are created by applying directed differentiation protocols to established, well-characterized, and self-renewing pluripotent cell lines. These protocols generate cells with characteristics associated with specific and desired developmental lineages, and in some instances may be designed to have additional beneficial properties. Cells derived from such

lineages are transplanted into patients in an effort to replace or support cells that are absent or dysfunctional due to degenerative disease, aging, or traumatic injury, and to restore or augment the patient’s functional activity. Lineage’s pipeline currently includes: (i) OpRegen® cell therapy, a retinal pigment epithelial cell therapy in Phase 2a development under a worldwide collaboration with Roche and Genentech, a member of the Roche Group, for the treatment of geographic atrophy secondary to age-related macular degeneration; (ii) HUNT1, a pluripotent stem cell derived, neural cell therapy in Phase 1b/2a development for the treatment of Huntington’s Disease; (iii) OPC1, an oligodendrocyte progenitor cell therapy in Phase 1/2a development for the treatment of spinal cord injuries; (iv) COR1, a corneal endothelial disease cell therapy in preclinical development for the potential treatment of corneal endothelial disease; (v) ReSonance® (ANP1), an auditory neuronal progenitor cell therapy in preclinical development under a collaboration with William Demant Invest A/S for the potential treatment of auditory neuropathy; (vi) ILT1, an islet cell therapy focused on the issue of large-scale production of undifferentiated pluripotent cells, which if successful and applied to an islet cell differentiation protocol could be evaluated for the production of islet cells for the potential treatment of Type 1 Diabetes; (vii) RND1, a novel hypoimmune induced pluripotent stem cell line being evaluated for development under a gene editing partnership; and (viii) PNC1, a photoreceptor neural cell therapy research initiative being evaluated for development for the potential treatment of vision loss due to photoreceptor dysfunction or damage. For more information, please visit www.lineagecell.com or follow the company on X/Twitter @LineageCell.

Forward-Looking Statements

Lineage cautions you that this press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Lineage intends these statements to be covered by the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, to the extent applicable. All statements, other than statements of historical facts, contained in this press release are forward-looking statements. In some cases, forward-looking statements can be identified by terms such as “believe,” “aim,” “may,” “will,” “estimate,” “continue,” “anticipate,” “design,” “intend,” “expect,” “could,” “can,” “plan,” “potential,” “predict,” “seek,” “should,” “would,” “contemplate,” “project,” “target,” “suggest,” “goal,” “positioned,” “scheduled,” or the negative version of these words and similar expressions. The absence of these terms does not mean that a statement is not forward-looking. Such forward-looking statements include, but are not limited to, statements relating to: the potential benefits of the NeuroAirmid acquisition and HUNT1 as a cell-based treatment modality for Huntington’s Disease; plans to develop a commercially scalable production process for HUNT1 in parallel with its clinical development, including the application of Lineage’s cell-line experience and manufacturing, process development, scale-up and optimization capabilities and the use of AlloSCOPE for future HUNT1 manufacturing; the expected progress, enrollment, completion and funding of the REGEN4HD Phase 1b/2a study, including support from CIRM, and Lineage’s assumption of clinical development responsibility following completion of that study; plans and timing for development of COR1, including initial preclinical data expected in the first quarter of 2027; the potential safety and therapeutic benefits of COR1 for patients suffering from corneal endothelial disease, including FECD and bullous keratopathy; the benefits of a thaw-and-inject formulation and its combination with bioreactor-based precursor expansion and differentiation, and the potential for COR1 to demonstrate a superior product profile; the potential for Lineage’s AlloSCOPE manufacturing platform to enable large-scale production of COR1 in accordance with cGMP and other applicable manufacturing standards and requirements and reduce production costs; the ability of Lineage’s two-tiered cell banking system to generate millions of doses of final product; the potential of the AlloSCOPE platform, including based on our prior success in completing a production run for two product candidates, to manufacture millions of doses of a cost-effective, scalable, and consistent supply of an allogeneic, cell-based product derived from a single initial cell line, that can be applied across multiple programs; the potential for AlloSCOPE 5D to support large-scale production for high-dose indications such as Type 1 Diabetes and the anticipated speed, scalability and versatility of the platform; the expected June 9, 2043 expiration of the AlloSCOPE patent and the anticipated competitive benefits of the Company’s intellectual property; Lineage’s strategy of prioritizing programs that it believes can generate meaningful data in early clinical trials, thereby allowing the Company to evaluate opportunities and clinical potential earlier, optimize capital allocation, and accelerate potential value creation; Lineage's plans to, and its ability to, apply its manufacturing capabilities through its ILT1 initiative to establish an

expansion-through-differentiation production modality entirely in a 5D dynamic culturing system that, if successful and applied to an islet-cell differentiation protocol, could address production and commercialization hurdles for potential islet cell therapy product candidates for Type 1 Diabetes; the potential therapeutic benefits of OpRegen cell therapy in patients with GA secondary to age-related macular degeneration and the significance of the Phase 1/2a clinical study data reported to date, including the expectation that findings from the open-label, single-arm Phase 1/2a study may support continued evaluation; Genentech’s plans to evaluate proprietary surgical delivery devices that have potential advantages over available off-the-shelf devices in the Phase 2a GAlette Study; the ongoing open and active status of the Phase 2a GAlette Study at clinical sites in the U.S. and Israel and ongoing patient enrollment at such sites; the benefits of Lineage’s services agreement with Genentech and its impact on advancing the OpRegen cell therapy program; the plans and expectations with respect to OPC1, including the ongoing DOSED clinical study and enrollment of additional participants and expectations regarding continued study conduct and device design; expected funding, duration, activities and objectives of the WDI research collaboration for ReSonance (ANP1), including second-year preclinical advancement and functional testing using the established deafening model, manufacturing and release testing, and the planned fourth-quarter 2026 meeting with the Danish Medicines Agency to discuss development plans and seek scientific advice; Lineage’s expectation that its cash, cash equivalents and marketable securities are sufficient to support its planned operations into the second quarter of 2028; Lineage’s plans to advance and diversify its pipeline in 2026 and beyond, including its long-term strategy of creating a leading pipeline of cell-based transplant programs based on its core technology and AlloSCOPE manufacturing platform . Forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause Lineage’s actual results, performance or achievements to be materially different from future results, performance or achievements expressed or implied by the forward-looking statements in this press release, including, but not limited to, the following risks: that we may need to allocate our cash to unexpected events and expenses causing us to expend our cash, cash equivalents and marketable securities more quickly than expected; that cash runway projections are based on current operating assumptions and are subject to change based on business conditions, development activities, and other factors outside Lineage’s control, and that Lineage may need to raise additional capital before that time; that development activities, preclinical activities, and clinical trials of our product candidates may not commence, progress or be completed as expected due to many factors within and outside of our control; that Lineage's development strategy of prioritizing programs based on the potential for early meaningful data may not result in the generation of meaningful data, nor ultimately successful product candidates, and that the ability to generate meaningful data in early clinical trials is uncertain and may not be predictive of clinical success in later-stage studies; that early, exploratory, or interim findings in clinical and/or nonclinical studies of a product candidate may not be predictive of results in controlled, subsequent, or later-stage clinical and/or nonclinical studies of that candidate; difficulties transferring manufacturing processes and clinical responsibilities for HUNT1, maintaining necessary licenses and other rights, or achieving anticipated acquisition benefits, and the costs of deferred and contingent acquisition payments; the possibility that CIRM grant support may be delayed, conditioned, reduced or unavailable or insufficient to complete planned activities; delays or failures in the REGEN4HD study and dependence on collaborators, investigators, clinical sites, suppliers and service providers for that study; that Roche and Genentech may not successfully advance OpRegen cell therapy or be successful in completing further clinical trials for OpRegen cell therapy and/or obtaining regulatory approval for OpRegen cell therapy in any particular jurisdiction, and Genentech retains discretion over the advancement of OpRegen and Lineage cannot control Genentech's decisions; that competing alternative therapies may adversely impact the commercial potential of OpRegen cell therapy; that OPC1 clinical trials, including the DOSED study, may not be successful; that the DOSED study is evaluating device safety and utility and no safety or efficacy conclusions regarding OPC1 are available at this time; that COR1 is a preclinical asset and there is no assurance that preclinical data expected to be generated in the first quarter of 2027 will be positive or generated on the anticipated timeline, that COR1 will advance into clinical development, or that COR1 will demonstrate the same or superior efficacy, a superior product profile or disruptive potential relative to existing or competing therapies for corneal endothelial disease; that Lineage’s ILT1 development is in its early stages, and even if our AlloSCOPE 5D manufacturing initiative is successful in producing large scale production of undifferentiated pluripotent stem cells, that we may not be able to successfully or feasibly differentiate those cells into islet cells, and further, we may not successfully establish a production modality for large-scale islet cell production, and there is no assurance that undifferentiated pluripotent

stem cell manufacturing milestones will translate to clinical or commercial development or result in a viable product candidate for the treatment of Type 1 Diabetes; that the AlloSCOPE platform may not generate new programs with the speed, efficiency, or value creation potential that Lineage anticipates, and past development timelines may not be indicative of future results; that expected manufacturing scale, consistency, genetic stability, differentiation control, efficiency and cost advantages may not be achieved or maintained across programs or at clinical or commercial scale; that intellectual property protection may be challenged, limited or lost before its expected expiration; that the WDI collaboration may not achieve its intended objectives, that WDI may not contribute the full amount of anticipated funding, that the WDI anticipated funding may not be sufficient to complete the planned activities under the WDI collaboration and that additional funding may be required, and that the completed cGMP manufacturing run may not satisfy release testing requirements; that the planned Danish Medicines Agency meeting may be delayed or may not yield scientific advice supporting the anticipated development plans; that research initiatives, including PNC1 and RND1, may not result in viable product candidates or achieve their intended therapeutic or development objectives; that the ongoing 2026 Iran War and broader Israeli regional conflict may materially and adversely impact clinical activities at Israel trial sites participating in the GAlette study and/or our manufacturing processes, including cell banking and product manufacturing for our cell therapy product candidates, all of which are conducted by our subsidiary in Jerusalem, Israel; that Lineage may not be able to manufacture sufficient clinical quantities of its product candidates in accordance with current good manufacturing practice; and those risks and uncertainties inherent in Lineage’s business and other risks discussed in its filings with the Securities and Exchange Commission (SEC). Lineage’s forward-looking statements are based upon its current expectations and involve assumptions that may never materialize or may prove to be incorrect. Further information regarding these and other risks is included under the heading “Risk Factors” in Lineage’s periodic reports filed with the SEC, including its most recent Annual Report on Form 10-K filed with the SEC and its subsequent reports filed with SEC, which are available on the SEC’s website at www.sec.gov. You are cautioned not to place undue reliance on forward-looking statements, which speak only as of the date on which they were made. All forward-looking statements are expressly qualified in their entirety by these cautionary statements. Lineage undertakes no obligation to update any forward-looking statement to reflect events that occur or circumstances that exist after the date on which they were made, except as required by law.

Lineage Cell Therapeutics, Inc. IR

Ioana C. Hone

(ir@lineagecell.com)

(442) 287-8963

Russo Partners – Media Relations

Nic Johnson or David Schull

(Nic.johnson@russopartnersllc.com)

(David.schull@russopartnersllc.com)

(212) 845-4242

Tables to follow

LINEAGE CELL THERAPEUTICS, INC. AND SUBSIDIARIES

CONDENSED CONSOLIDATED BALANCE SHEETS

(IN THOUSANDS)

(UNAUDITED)

LINEAGE CELL THERAPEUTICS, INC. AND SUBSIDIARIES

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS

(IN THOUSANDS, EXCEPT PER SHARE DATA)

(UNAUDITED)

LINEAGE CELL THERAPEUTICS, INC. AND SUBSIDIARIES

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

(IN THOUSANDS)

(UNAUDITED)