Both programmes demonstrate Exscientia's ability to design highly differentiated, potentially best-in-class molecules

Exscientia will receive $15 million for achieving these milestones and is eligible for over $600 million in additional milestone payments for these two programmes as well as high-single-digit to mid-teen royalties

Three programmes in the partnership have now advanced through initial milestones with multiple more progressing at earlier stages

Exscientia plc (NASDAQ:EXAI) today announced the advancement of two additional discovery programmes within its collaboration with Sanofi, with Exscientia receiving an aggregate of $15 million in milestone payments. Both lead compounds have met the product profile requirements, set by both Exscientia and Sanofi, to enable a transition to the lead optimisation phase within the collaboration. Both programmes have also shown a high level of differentiation in early profiling and have the potential to produce best-in-class assets.

"We are excited to announce the advancement of these programmes. This is testament to our consistent ability to design compounds that solve complex problems," said David Hallett, Ph.D., interim Chief Executive Officer and Chief Scientific Officer of Exscientia. "We look forward to continuing to work with Sanofi to advance these programmes towards development, and ultimately working together to bring potential new treatment options to patients with significant unmet need."

Exscientia will receive $15 million, in aggregate, for achieving these milestones. The payment is expected to be received by Exscientia in the fourth quarter of 2024 and reflected as cash inflows from collaborations and recognised as revenue over the duration of the collaboration. For these two programmes, Exscientia is also eligible to receive additional pre-commercial milestone payments of over $300 million and commercial milestones of over $300 million as well as tiered royalties on product sales ranging from high-single-digits to mid-teens, subject upon the achievement of certain specified research, development, regulatory and commercial milestones.

About Exscientia

Exscientia is a technology-driven drug design and development company, committed to creating more effective medicines for patients, faster. Exscientia combines precision design with integrated experimentation, aiming to invent and develop the best possible drugs in the most efficient manner. Operating at the interfaces of human ingenuity, artificial intelligence (AI), automation and physical engineering, we pioneered the use of AI in drug discovery as the first company to progress AI-designed small molecules into a clinical setting. We have developed an internal pipeline focused on oncology, while our partnered pipeline extends to many other therapeutic areas. By leading this new approach to drug creation, we believe we can change the underlying economics of drug discovery and rapidly advance the best scientific ideas into medicines for patients.

For more information visit us on www.exscientia.com or follow us on LinkedIn @ex-scientia and X @exscientiaAI.

Forward-looking Statements

This press release contains certain forward-looking statements within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. Words such as "anticipates," "believes," "expects," "intends," and "projects" or similar expressions are intended to identify forward-looking statements. All statements, other than statements of historical facts, included in this press release are forward-looking statements. These statements include, but are not limited to, statements regarding the further development of the two programmes under the collaboration with Sanofi, including advancing the product candidates through optimisation phrase and into the clinic; the creation of best-in-class therapies which meet unmet medical needs in inflammation and oncology; expectations and benefits related to the Sanofi collaboration including the development of additional molecule programmes and potential for future milestone payments; and the ability of Exscientia's technology to design compounds to create more effective medicines for patients. Such statements are subject to a number of risks, uncertainties and assumptions, including those related to: the initiation, scope and progress of Exscientia's and its partners' planned and ongoing preclinical studies and clinical trials and ramifications for the cost thereof; clinical, scientific, regulatory and technical developments; the development and deployment of new technology and facilities; the process of discovering, developing and commercialising product candidates that are safe and effective for use as human therapeutics and the endeavour of building a business around such product candidates; and the process of creating a combined company with Recursion Pharmaceuticals and subsequent activities by any such combined company. In light of these risks and uncertainties, and other risks and uncertainties that are described in the Risk Factors section and other sections of Exscientia's Annual Report on Form 20-F, filed with the Securities and Exchange Commission (SEC) on March 21, 2024, and other filings that Exscientia makes with the SEC from time to time (which are available at https://www.sec.gov/), the events and circumstances discussed in such forward-looking statements may not occur, and Exscientia's actual results could differ materially and adversely from those anticipated or implied thereby. Although Exscientia's forward-looking statements reflect the good faith judgement of its management, these statements are based only on facts and factors currently known by the Company. As a result, investors are cautioned not to rely on these forward-looking statements. Exscientia undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required by law.

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Exscientia Achieves Milestones for Two Programmes in Sanofi Collaboration