Jasper Therapeutics : Corporate Presentation January 2023

Harnessing the Power of

Jasper's Differentiated

c-Kit Therapeutic Approach

Nasdaq: JSPR

January 2023

Safe Harbor Statements

Forward-Looking Statements

This investor presentation and any accompanying oral presentation (together, this "Presentation") contain forward-looking statements. All statements other than statements of historical fact contained in this Presentation, including statements regarding the future opportunities and prospects of Jasper Therapeutics, Inc. (together with its subsidiary, "Jasper" or the "Company"), including milestones, business strategy, and plans and objectives for future operations, are forward-looking statements. Jasper has based these forward-looking statements on its estimates and assumptions and its current expectations and projections about future events. These forward-looking statements are subject to a number of risks, uncertainties and assumptions, including those contained in the "Risk Factors" section of the Company's Annual Reports on Form 10-K for the year ended December 31, 2021, Quarterly Reports on Form 10-Q and Current Reports on Form 8-K that the Company has subsequently filed or may subsequently file with the SEC. In light of these risks, uncertainties and assumptions, the forward-looking events and circumstances discussed in this Presentation are inherently uncertain and may not occur, and actual results could differ materially and adversely from those anticipated or implied in the forward-looking statements. Accordingly, you should not rely upon forward-looking statements as predictions of future events. Jasper undertakes no obligation to update publicly or revise any forward-looking statements for any reason after the date of this Presentation or to conform these statements to actual results or to changes in Jasper's expectations.

Industry and Market Data

Certain data in this Presentation was obtained from various external sources, and neither the Company nor its affiliates, advisers or representatives has verified such data with independent sources. Accordingly, neither the Company nor any of its affiliates, advisers or representatives makes any representations as to the accuracy or completeness of that data or undertakes any obligation to update such data after the date of this Presentation. Such data involves risks and uncertainties and is subject to change based on various factors.

Trademarks

The trademarks included herein are the property of the owners thereof and are used for reference purposes only. Such use should not be construed as an endorsement of the products or services of the Company.

Briquilimab is an investigative drug	2
and is not approved for any indication

Briquilimab is an anti c-Kit antibody for acute and chronic therapy in multiple mast and stem cell diseases

Clinical validation in 5 for 5

transplant indications

Sickle cell disease

(SCD)

Severe combined immunodeficiency (SCID)_

Fanconi anemia (FA)

Acute myeloid leukemia

(AML)

Myelodysplastic syndrome (MDS)

Therapeutic development

in chronic disease

Chronic Spontaneous

Urticaria (CSU)

(Expected Start Q3 2023)

Low to Int. Risk MDS

(Expected Start

March/ April 2023)

Expansion

opportunities: chronic

inducible urticaria,

allergic asthma, prurigo nodularis, eosinophilic esophagitis

Efficient development with

near-term catalysts

Initial data expected:

Late 2023: Lower to Int.

Risk MDS

Mid 2024: CSU

SCID BLA submission

targeted for 2024

Multiple transplant studies currently funded and run by partners

Briquilimab is an investigative drug	3
and is not approved for any indication

Tyrosine kinase KIT plays a central role in regulating mast and stem cell survival

Mast Cell

c-Kit

Blocking c-Kit signaling depletes

mast cells

Mast Cells

Play a key role in immune system through the release of compounds that induce inflammation (degranulation)

Unregulated mast cell activation may cause episodes of hives and inflammation (i.e. Chronic Urticaria)

Briquilimab blocks c-Kit signaling and may lead to lasting depletion of mast cells in Chronic Urticaria and other mast cell diseases

Stem Cells

Hemopoietic stem cells are the pluripotent cells that drive ongoing production of red blood cells, platelets and immune cells

Many blood cancers and genetic diseases can be cured by depleting diseased stem cells and replacing with donor or gene modified stem cells

Briquilimab can be added to existing transplant regimens to block c-Kit signaling on stem cells and potentially deliver more effective transplants

Briquilimab is an investigative drug	4
and is not approved for any indication

Briquilimab is optimally designed to directly block c-Kit signaling

Briquilimab

Blocks SCF binding to c-Kit (CD117) to

directly inhibit receptor signaling

Briquilimab

SCF

c-KIT (CD117)

Validated

Mechanism

of Action

Favorable

Drug

Properties

Encouraging

Clinical

Profile

Briquilimab is designed to directly block SCF from binding to c-Kit (CD117) with high affinity and avidity

• Aglycoslyated IgG1 antibody directly inhibits stem cell factor from binding to the c-Kit receptor on mast and stem cells
• Inhibition of SCF signaling leads to depletion of mast cells in the skin and hematopoietic stem cells in the bone marrow
• Wide therapeutic potential across a range of mast and stem cell- mediated diseases
• Kd < 5pM affinity to human c-Kit with IC50 ~ 70pM
• Human mast cell survival bioassay IC50 ~12.5nM
• No Fc mediated ADCC or complement mediated cytotoxicity which reduces risk of adverse effects related to express CD117
• Human clinical data as IV or Sub-Q delivery
• Predictable clearance from ages 3yrs to 79yrs, no need to monitor PK
• Demonstrated single agent lasting depletion of mast cells
• Demonstrated efficacy in 5 clinical transplant studies
• No briquilimab-related SAEs reported

Briquilimab is an investigative drug	5
and is not approved for any indication