This presentation is intended to present a summary of ACT’s (“ACT”, or “Advanced Cell Technology Inc”, or “the Company”) salient business

characteristics.

The information herein contains “forward-looking statements” as defined under the federal securities laws. Actual results could vary materially.

Factors that could cause actual results to vary materially are described in our filings with the Securities and Exchange Commission.

You should pay particular attention to the “risk factors” contained in documents we file from time to time with the Securities and Exchange

Commission. The risks identified therein, as well as others not identified by the Company, could cause the Company’s actual results to differ materially

from those expressed in any forward-looking statements. Ropes Gray

Cautionary Statement Concerning Forward-Looking Statements

1

LEADING

REGENERATIVE

MEDICINE

May 2013

David versus Goliath

is the story of every

emerging regenerative

medicine company in

this room….

3

Structure of Retina

The Retina the light-sensitive

tissue lining the inner surface of

the eye

Retina

4

Life Support to Photoreceptors

Provides nutrients and growth factors

• photoreceptors see no blood

Recycles Vitamin A

• maintains photoreceptor excitability

Detoxifies photoreceptor layer

Maintains Bruch’s Membrane

• natural antiangiogenic barrier

• immune privilege of retina

Absorbs stray light / protects from UV

RPE Layer has

multiple critical roles

in the

health and function

of photoreceptors and the retina as a whole.

5

Life Support to Photoreceptors

Failure of RPE cells results in many degenerative diseases

Stargardt’s disease

Myopic Macular Dystrophy

Age-related macular degeneration (AMD)

6

RPE Therapy- Rationale

• Massive unmet medical need

7

RPE Therapy- Rationale

• Massive unmet medical need

8

RPE Therapy- Rationale

• Massive unmet medical need

• Small dosage size

– less than 200K cells

• Immune-privileged site

– minimal immunosuppression

• Ease of administration

– no separate device approval

• Unique measuring and observation environment

Preclinical Models

9

Injected human RPE cells

repair monolayer

structure in eye

Transplanted cells

engraft and form

correct anatomical structure

ELOVL4 Mouse model for macular degeneration

Preclinical Models

10

untreated treated

Photoreceptor

layer photoreceptor

layer is lost

Transplanted RPE cells

protect photoreceptors and

prevent loss of vision

RCS Rat model for

macular degeneration

•Untreated animals go blind

• Treated animals maintain

70-80% of normal vision

GMP Process

11

Harvest for

Cryopreservation

ES Cells EB

Formation RPE isolation P1 P2

0 5 weeks 12 weeks 15 weeks 18 weeks

TEST CASE: • Spiked with 10 percent hESC • No hESC’s in harvested cells

Limit of Detection for hESC 0.00008%

3 weeks

EB

Outgrowth

30 Weeks

Differentiation Media is Not

Permissive for hESCs

GMP Process

12

Extensive Safety Studies Shows

Lack of Tumorigenicity

GMP Process

13

Normal female (46 XX) karyotype

of the clinical RPE lot.

Regular Marker and Karyotype

Confirmation

GMP Process

14

Cell potency of each lot is assessed by phagocytosis (critical function in vivo) of fluorogenic bioparticles.

Flow cytometry histogram showing

phagocytosis of pHrodo bioparticles

4°C 37°C

Developed Quantitative Cell

Potency Assays

GMP Process

15

y = 0.0141x + 0.0007

0.00

0.50

1.00

1.50

2.00

0 20 40 60 80 100 120 A

bsor

banc

e at

475

nm

µg/mL Melanin

Pigmentation matters - optimize

time to harvest and cryopreserve

GMP process for differentiation and purification of RPE – Virtually unlimited supply from stem cell source

– Optimized for manufacturing

Ideal Cell Therapy Product

– Centralized Manufacturing

– Small Doses

– Easily Frozen and Shipped

– Simple Handling by Doctor

GMP Process

16

Product Cold Chain is Easily Scaled for Global Sales

ACT Cleanroom Suite

Phase I - Clinical Trial Design

17

SMD and dry AMD Trials approved in U.S., SMD Trial approved in U.K.

12 Patients / trial

ascending dosages of 50K, 100K, 150K and 200K cells.

Regular Monitoring - including high definition imaging of retina

50K Cells 100K Cells 150K Cells 200K Cells

Best Vision Inclusion Criteria – First Half SMD Trial: Hand Motion only, modified to 20/400

Dry AMD Trial: 20/800, modified to 20/400

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Participation by the leading

retinal surgeons in the world

Jules Stein

(UCLA)

Mass

Eye & Ear

Infirmary

Wills Eye

Institute

Bascom

Palmer Eye

Institute

Moorfields

Eye

Hospital

Edinburgh

Royal

Infirmary

Surgical Overview

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Procedure:

• 25 Gauge Pars Plana Vitrectomy

• Posterior Vitreous Separation

• Subretinal hESC-derived RPE cells

injection

• Bleb Confirmation

• Day Surgery/Sedation only

Preliminary Results

20

No Adverse Events

No signs of hyperproliferation,

abnormal growth, rejection or retinal

detachment.

Persistence of cells

Anatomical evidence of hESC-RPE

survival and engraftment.

Increased pigmentation within the bed

of the transplant.

Impact on Acuity

Recorded functional visual

improvements in both patients.

Preliminary Results

21

Persistence of cells

Anatomical evidence of hESC-RPE

survival and engraftment.

Increased pigmentation within the bed

of the transplant.

Engraftment and Survival: SD-OCT image collected at month 3

show survival and engraftment of RPE

Preliminary Results

22

Baseline

Injection site

Month 1 Month 2

Increased pigmentation within the bed

of the transplant.

Persistence of cells

Preliminary Results

23

Recorded functional visual

improvements in both patients.

• SMD Patient: Best corrected visual

acuity improved from hand

motions to 20/800 and improved

from 0 to 5 letters on the ETDRS

visual acuity chart in the study eye.

• Dry AMD Patient: Vision improved

in the patient with dry age-related

macular degeneration (21 ETDRS

letters to 28).

SMD

Patient

Preliminary Results

24

Varying degrees of improvement in visual acuity

across patients

Some patients have pronounced gains in VA

Observed persistence of cell engraftment and

VA gains- 22 months now for initial patients

• Increased letters on ETDRS Charts

• Color perception

• Contrast

• Low light vision

These are very late stage patients with a high degree of

heterogeneity in degree of “rescue-able” photoreceptors

Halfway Point

25

Based on safety and functional data from first 18 patients,

FDA and MHRA have approved new 4 patient cohorts in each trial.

Best Vision Inclusion Criteria for new Cohort 2a

includes patients with vision as good as 20/100.

50K Cells 100K Cells 150K Cells 200K Cells

100K Cells FDA and MHRA Approved “Cohort 2a”

Inclusion Criteria: vision 20/100+

Current Safety Profile

26

15 SMD Patients Treated

6 patients (50K cells cohort) treated – US&UK Trials > Cohort Complete

6 patient (100K cells cohort) treated – US&UK Trials > Cohort Complete

1 patient (150K cells cohort) treated – US

1 patient (150K cells cohort) treated – UK

1 patient (“Cohort 2a”) treated – US

8 dry AMD Patients Treated

3 patients (50K cells cohort) treated > Cohort Complete

3 patient (100K cells cohort) treated > Cohort Complete

1 patient (150K cells cohort) treated – US

1 patient (“Cohort 2a”) treated – US

Phase II/III Projected Timeline

27

Completion of Phase I : 2013-2014

Design of Phase II/III studies is an ongoing process, but

will become more concrete during 2H2013 • Design of future studies dependent upon information

gathered throughout PI/II study ― Efficacy

― Multiple Injections

― Further evaluation of I/E criteria

― Potentially less immunosuppression

Phase II/III study commencement 2014-2015

Working with our

experts/investigators in

design of studies

Expanding Clinical Programs

28

Myopia creates a higher risk of permanent vision loss due

to Myopic Macular Degeneration (MMD)

• Severe near-sightedness causes elongation of the eyeball --

which can cause fissures in RPE layer.

January 2013 - FDA Approved

MMD Phase I/II study Jules Stein Eye Institute (UCLA) and ACT

Price Justification

29

Unmet Therapeutic Need

Efficacy

Patient Prevalence

Pharmacoeconomics

Patient Advocacy

Pricing Justification

across all categories

of consideration

…this is what we

believe, now how will

we support this position.

Price Justification

30

We understand that reimbursement challenges are

increasingly becoming a central focus for new treatments

• We are working to integrate reimbursement planning early in our

RPE product life cycle • Addressing reimbursement after market clearance doesn’t work anymore

• Design the right studies the first time…consequences are significant

• Understand payer requirements early; anticipate changes

• Evidence of value is critical; not new…just more pressure • Value vs. alternatives

• Value to certain patient subpopulations & stakeholders

• Value vs. overall affordability (society, payer, employer & individual)

Reimbursement Strategy

31

Conducting a reimbursement analysis and formulating a strategy.

Working to secure meetings with CMS (Medicare) and private

insurers.

Phase II and III: Planning to gather health economics and

comparative clinical effectiveness data.

• Our design of later phases of our trials will include ability to collect and

assess pharmaco-economic data to demonstrate the cost

effectiveness and clinical effectiveness of our RPE product (relative to

existing treatments, if any approved).

Building the case for adequate reimbursement

based on a therapy’s clinical and social

benefits as part of the clinical trials is crucial.

Implementation

32

Activity Objectives

Document Unmet Needs and Clinical

Value

Engaging our KOLs to help us to develop robust arguments that our

RPE cellular therapeutic approach addresses a critical need and is

“good medicine”.

Collect data on

economics of

treatment

Analyzing in detail events, activities, length of time for treatment,

timing and any other associated costs under alternative treatment

scenarios for macular degenerative diseases, particularly dry AMD.

Watching progress of clinical studies using antibodies.

Prepare stakeholder

presentations and

proposals

Documenting disease characteristics, unmet need, current disease

management practices, and measurements of economic impact

Initiate discussions with

stakeholders

Will pursue parallel discussions with CMS, key private payers, and key

treatment centers to build awareness and solicit feedback

Our Strategy during clinical trials….

Implementation

33

Activity Objectives

Continue discussions

with providers

We will identify and address hurdles that may remain regarding

institutional review processes and procedures in key treatment

centers – will use our KOLs as necessary.

Engage with

Foundation and Patient

Stakeholders

Develop programs to refer patients, educate patients and families,

and provide reimbursement support, as necessary.

Our Prelaunch Strategy….

Implementation

34

Activity Objectives

Support approval and

reimbursement

Provide on-line, phone and in the field support for patient-by-patient

product use and insurance coverage

Our Strategy Post-Launch….

We have some great role

models to follow already…

Intellectual Property – RPE Program

Dominant Patent Position for Treating Retinal Degeneration

• Broad Coverage for Manufacturing RPE Cells

• Broad protection of pharmaceutical preparations

Covers both RPE cell suspensions and scaffolded RPE layers.

• RPE Cells derived from other pluripotent stem cells – e.g., iPS cells

o Careful Consideration of Literal Scope

o Preservation of Doctrine of Equivalents

o Constantly Mining Existing Filings

o Vigilantly Filing on Improvements

35

Keeping our

IP Lawyers

on their toes

RPE Program - Investment Thesis

36

Dry AMD: More than 50 million patients in major markets.

1% market penetration

may represent $5-10B market opportunity.

Orphan indications: 10% market penetration of SMD alone may be a $100+

million/year product. Orphan status provides options for early authorization.

Immense Unmet Medical Needs

Small Doses & Globally Scalable Cold

Chain

Immune Privileged Injection Site

ACT Corporate Overview

ACT Management Team

Highly Experienced and Tightly Integrated Management Team

Gary Rabin – Chairman & CEO

Dr. Robert Lanza, M.D. – Chief Scientific Officer

Edmund Mickunas – Vice President of Regulatory Affairs

Dr. Irina Klimanskaya, Ph.D. – Director of Stem Cell Biology

Dr. Shi-Jiang (John) Lu, Ph.D. – Senior Director of Research

Dr. Roger Gay, Ph.D. - Senior Director of Manufacturing

Kathy Singh - Controller

Rita Parker – Director of Operations

Dr. Matthew Vincent, Ph.D. – Director of Business Development

Bill Douglass – Dir. of Corporate Communications & Social Media

38

Dr. Ronald M. Green: Chairman

Dr. Judith Bernstein

Dr. Jeremy B.A. Green

Dr. Robert Kauffman

Dr. Carol A. Tauer

ACT Leadership

Gary Rabin: Chairman & CEO

Dr. Robert S. Langer, ScD: Prolific medical inventor; Chair – ACT SAB

Gregory S. Perry: EVP – Immunogen

Michael Heffernan: CEO – Collegium Pharma

Zohar Loshitzer: CEO Presbia; Founder LifeAlert Medical

Dr. Alan C. Shapiro: Renowned business school professor

39

World Class Board of Directors

Highly-regarded Ethics Advisory Board

Thank you

For more information, visit www.advancedcell.com