LeadingtheRegenera-veMedicineRevolu-on

MichaelD.West,Ph.D.Co-ChiefExecu-veOfficerStrategicInvestmentConferenceMay25-26,2016

NYSEMKT:BTX

ThemaKersdiscussedinthispresenta-onincludeforwardlookingstatementswhicharesubjecttovariousrisks,uncertain-es,andother factors thatcouldcauseactual results todiffermaterially fromtheresultsan-cipated.Suchrisksanduncertain-esincludebutarenotlimitedtothesuccessofBioTimeindevelopingnewstemcellproductsandtechnologies;resultsofclinicaltrialsofBioTimeproducts;theabilityofBioTimeand its licensees to obtain addi-onal FDA and foreign regulatory approval tomarket BioTime products;compe--on fromproductsmanufacturedandsoldorbeingdevelopedbyothercompanies; thepriceofand demand for BioTime products; and the ability of BioTime to raise the capital needed to finance itscurrentandplannedopera-ons. Anystatementsthatarenothistoricalfact(including,butnotlimitedtostatements that contain words such as "will," "believes," "plans," "an-cipates," "expects," "es-mates")shouldalsobeconsideredtobeforward-lookingstatements.Forward-lookingstatementsinvolverisksanduncertain-es,including,withoutlimita-on,risksinherentinthedevelopmentand/orcommercializa-onofpoten-alproducts,uncertainty intheresultsofclinical trialsorregulatoryapprovals,needandability toobtain future capital, and maintenance of intellectual property rights. As actual results may differmaterially from the results an-cipated in these forward-looking statements they should be evaluatedtogetherwiththemanyuncertain-esthataffectthebusinessofBioTimeanditssubsidiaries,par-cularlythosemen-oned in the cau-onary statements found in BioTime's Securi-es and Exchange Commissionfilings.BioTimedisclaimsanyintentorobliga-ontoupdatetheseforward-lookingstatements.

SafeHarborStatement

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Aging: The demographic trend of our time

U.S. projected >80 yrs. old

�  Approximately 80% of health care costs are associated with degenerative disease.

�  Many degenerative diseases associated with loss or dysfunction of cells associated with aging, therefore, often only the symptoms are currently drugable.

Interven-onalGerontology

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AdvantagesofPluripotentStemCells

PluripotentStemCells(PSCs)allowthemanufactureofallhumancelltypesonanindustrial-scale

Unlikeadultstemcells,ourfocusisonclinicalgrademastercellbanksofPSCsthatpropagateindefinitelyasasourceofproduct

Uniformityofproductandgenotype

Significantpatentporeolio:>700patents/appsworldwide

Government(NIH)approvedlines,nonewsourcerequired

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Differen-ate

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AdvancingintheClinic:

OpRegen®:KnownMechanismofAc-on

Drusen Retinal Pigment

Epithelium (RPE)

Choroid

Photoreceptors

DryAge-RelatedMacularDegenera@on(DRY-AMD)

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Theleadingcauseofblindnessinpeopleoverage60

LossofRPEcellsintheeyecancausebothdryorwetAMD

OpRegen®cellsintegrateintosubre-nalspacetoreplacemissingRPEcells

Off-the-shelfinjec-onasaone--metherapy

FDAFast-Trackdesigna-on

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OpRegen®Targe-ngLargerAMDOpportunity

●Lucen@s

ApprovedTherapies

1.6MNewDryAMDCasesintheU.S.Annually

90%Dry-AMD

10%WetAMD

AMDafflicts30+millionpeopleworldwideCurrently,noapprovedtherapiesavailableforthiscondi@on.

NoApprovedTherapy

●Eylea

>$8B

T R I A L D E S I GN

Part1

Part2

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OpRegen®PhaseI/IIa:FirstCohortDosed

PhaseI/IIaStudy:Doseescala-onsafetyandefficacystudyofOpRegen®transplantedsubre-nallyinpa-entswithadvanceddry-formofAMD(GeographicAtrophy–GA)

StudySite:HadassahUniversityMedicalCenter,Jerusalem,Israel,andpoten-allyothersites

DoseandAdministra@on:Singleescala-ngdosesofcellsinsalineinjectedintosubre-nalspace

USApprovedIND:Openlabel,non-randomized,sequen-al,singlecentertrialforphaseI

50,000cellsCohort1●3Pa-entsBCVA20/200orless

200,000cells

500,000cells

Cohort2●3Pa-entsBCVA20/200orless

Cohort3●3Pa-entsBCVA20/200orless

Cohort4●6Pa-entsBCVA20/100orless 500,000cells

UnlockingAssetValueforBTXShareholders

BioTimeowns~49%(~$72M)ofAsterias(NYSEMKT:AST)

Withproprietary,industry-leadingplaeormsbasedonitspluripotentstemcellanddendri-ccellimmunotherapytechnologies,Asteriasisfocusedontherapiestotreatcondi-onsinseveralmedicalareaswherethereishighunmetmedicalneedandinadequateavailabletherapies.

9 Asof5/16/16

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CELLDELIVERYMATRIX

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Renevia®:SignificantNeedforCellDeliveryMatrix

•  Localizes transplanted cells at the intended site

•  Support structure needed for successful cell engraftment & survival

3-DimensionalCellDeliveryMatrix

Key Advantages livingCellshyaluronicacidcollagencross-linker

Polymeriza-onOverTime

TR IA L D E S IGN

Mul-center,randomized,morecontrolledtrial

-Mid-facevolumedeficitscore-Globalaesthe@cimprovementscale

Treatedvs.delayedtreatmentcontrol25completersineachgroupwithtreatmenteffect

measuredat1,3,and6months

IncreaseinskinthicknessasmeasuredbyUltrasoundat6months

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Renevia®:A“Gateway”PivotalTrial

TrialtosupportCEMarkIni@altarget:

HIV-associatedLipoatrophy(facialFatloss)incombina-onwithautologousfatprecursorcells

HIV-RelatedLipoatrophy

PrimaryEndpoint

SecondaryEndpoint

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Renevia®:BeyondHIV-RelatedFacialLipoatrophy

Illustration Only: Age-Related Lipoatrophy

Designedtosafelyregenerate3-Dadipose-ssue

~4.3Mfacialaesthe-csproceduresperformedinplas-csurgeryofficesin2014(2)

(1)GBIResearchGlobalFacialAesthe<csMarket2014; (2)ASPS2014Plas<cSurgerySta<s<cs

1Maugmenta-onorreconstruc-onsurgicalproceduresperformedbyUSplas-csurgeonsin2014(1)

Renevia®-Poten-alforbeKer,long-las-ngand“morenatural”outcomethanfillersbyenablingthegrowthofnewfacial-ssue

Renevia®isnotadermalfillerRenevia®couldenabletrueRegenera-veAesthe-cs

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BioTime,Inc.

NYSEMKT&TASE BTX

MarketCapasof5/16/16

$245M

SharesOutstanding 95M

Cash(Consolidated)asof3/31/16

$27M

Investmentsasof5/16/16

$72MinAsterias(NYSEMKT:AST)$57MinOncoCyte(NYSEMKT:OCX)

Clinical-stagecompanyfocusedondevelopingandcommercializingnoveltherapiesfrompluripotentstemcellassets.

GeneCloningTechnologyDeveloped

HybridomaTechnologyDeveloped

20161970 1980 1990 2000 2010

1974

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RECOMBINANTDNA REGENERATIVEMEDICINEMONOCLONALANTIBODIES

ANTICIPATEDNEXTBIGUNTAPPEDMARKETPOTENTIAL

$44BCURRENTGLOBALMARKET

$75BCURRENTGLOBALMARKET

Regenera-veMedicine

19981975

Isola-onofPluripotentStemCells

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Summary

COMPLETINGRENEVIA®PIVOTALTRIALTHISYEAR

CombiningExper@se+LeveragingSciencetoGenerateShareholderValue

REGENERATIVEMEDICINEISAREVOLUTIONARYNEWSTRATEGY

FOURTHERAPEUTICCANDIDATESINTHECLINIC

TECHNOLOGYLEADER

NYSEMKT:BTX

LeadingtheRegenera-veMedicineRevolu-on

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