The document discusses BioTime, Inc., a biotechnology company leading the regenerative medicine revolution. It summarizes BioTime's expertise in pluripotent stem cells and its focus on advancing two clinical programs - Renevia for facial aesthetics and OpRegen for dry age-related macular degeneration. It outlines upcoming milestones for these programs in 2016-2017, and how BioTime is unlocking value from its ownership stakes in public subsidiaries Asterias and OncoCyte, which are applying BioTime's stem cell technologies to therapies for conditions with high unmet medical need.

1. Leading the Regenerative Medicine Revolution
July 2016
NYSE MKT: BTX

2. The matters discussed in this presentation include forward looking statements which are subject to various
risks, uncertainties, and other factors that could cause actual results to differ materially from the results
anticipated. Such risks and uncertainties include but are not limited to the success of BioTime in developing
new stem cell products and technologies; results of clinical trials of BioTime products; the ability of BioTime
and its licensees to obtain additional FDA and foreign regulatory approval to market BioTime products;
competition from products manufactured and sold or being developed by other companies; the price of
and demand for BioTime products; and the ability of BioTime to raise the capital needed to finance its
current and planned operations. Any statements that are not historical fact (including, but not limited to
statements that contain words such as "will," "believes," "plans," "anticipates," "expects," "estimates")
should also be considered to be forward-looking statements. Forward-looking statements involve risks and
uncertainties, including, without limitation, risks inherent in the development and/or commercialization of
potential products, uncertainty in the results of clinical trials or regulatory approvals, need and ability to
obtain future capital, and maintenance of intellectual property rights. As actual results may differ
materially from the results anticipated in these forward-looking statements they should be evaluated
together with the many uncertainties that affect the business of BioTime and its subsidiaries, particularly
those mentioned in the cautionary statements found in BioTime's Securities and Exchange Commission
filings. BioTime disclaims any intent or obligation to update these forward-looking statements.
Safe Harbor Statement
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3. 3
Why BioTime Now?
Combining Expertise + Leveraging Science to Generate Shareholder Value
Focus On Primary Clinical Programs
• Renevia® in aesthetics
• OpRegen® in ophthalmics
Participation In Success Of Public Subs
• Asterias (Two clinical-staged programs)
• OncoCyte (Potential product launch in early ‘17)
Unlocking Value From Non-Core Private Subs

4. Gene Cloning
Technology Developed
Hybridoma
Technology Developed
2016
1970 1980 1990 2000 2010
1974
4
RECOMBINANT DNA REGENERATIVE MEDICINEMONOCLONAL ANTIBODIES
ANTICIPATED NEXT BIG
UNTAPPED MARKET POTENTIAL
$44B
CURRENT GLOBAL MARKET
$75B
CURRENT GLOBAL MARKET
Regenerative Medicine
19981975
Isolation of Pluripotent
Stem Cells

5. 5
Experienced Leadership Team
Board of Directors
• Alfred D. Kingsley, Chairman of the Board
⎻ Partner, Greenway Partners L.P.
• Deborah Andrews
⎻ Vice President-Chief Accounting Officer, STAAR Surgical Company
• Neal C. Bradsher, CFA
⎻ President, Broadwood Capital, Inc.
• Stephen C. Farrell
⎻ CEO and Director, Convey Health Solutions
• Adi Mohanty
⎻ Co-Chief Executive Officer
• Michael H. Mulroy
⎻ Former EVP, Strategic Affairs, General Counsel and Corporate
Secretary, Questcor Pharmaceuticals
• Angus C. Russell
⎻ Former CEO, Shire plc
• David Schlachet
⎻ Former Chairman of the Tel-Aviv Stock Exchange (TASE) –
Audit Committee
• Michael D. West, Ph.D.
⎻ Co-Chief Executive Officer
Management
• Adi Mohanty, Co-Chief Executive Officer
⎻ 16 years of experience in executive and management positions
• Michael D. West, Ph.D., Co-Chief Executive Officer
⎻ 26 years of experience in regenerative medicine and management
• Russell Skibsted, Chief Financial Officer
⎻ 25 Years of experience in finance, acquisitions, partnering, marketing
and operations
• François Binette, Ph.D., Head of Global Development
⎻ 20 years of experience driving innovation in regenerative medicine
therapy development
• Oscar Cuzzani, M.D., Ph.D., Head of Global Development
⎻ 30 years of experience as a physician and in clinical development
• Judith Segall, VP of Administration and Corporate Secretary
⎻ 26 years of experience as one of the co-founders of BioTime, Inc.
• Jim Knight, Head of Business Development
⎻ 25 years of experience in biotechnology and pharmaceuticals
/
Shading = Joined in 2013 or later

6. 6
BioTime, Inc.
NYSE MKT & TASE BTX
Market Cap
as of 6/6/16
$268M
Shares Outstanding 95M
Cash (Consolidated)
as of 3/31/16
$27M
Public Subsidiaries
as of 6/6/16
$70M in Asterias
(NYSE MKT: AST)
$66M in OncoCyte
(NYSE MKT: OCX)

7. Advantages of Pluripotent Stem Cells
Pluripotent Stem Cells (PSCs) allow the
manufacture of all human cell types on an
industrial-scale
Unlike adult stem cells, our clinical grade
master cell banks of PSCs propagate
indefinitely as a source of product (no
tissue sourcing required)
Uniformity of product and genotype
No generic approval path
Our cells are government (NIH) approved
7
Differentiate

8. 8
Advancing in the Clinic:

9. 9
Renevia®: Significant Need for Cell Delivery Matrix
• Localizes transplanted cells at
the intended site
• Support structure needed for
successful cell engraftment &
survival
3-Dimensional Cell Delivery Matrix
Key Advantages
living Cells
hyaluronic acid
collagen
cross-linker
Polymerization
Over Time

10. TRI AL DESI GN
Multicenter, randomized, more controlled trial
- Mid-face volume deficit score
- Global aesthetic improvement scale
Treated vs. delayed treatment control
25 completers in each group with treatment effect
measured at 1, 3, and 6 months
Increase in skin thickness as measured by
Ultrasound at 6 months
10
Renevia®: A “Gateway” Pivotal Trial
Trial to support CE Mark
Initial target:
HIV-associated Lipoatrophy
(facial Fat loss) in combination
with autologous fat
precursor cells
HIV-Related Lipoatrophy
Primary Endpoint
Secondary Endpoint

11. Renevia®: Potentially Larger Indications
11 (1) GBI Research Global Facial Aesthetics Market 2014
~350,000 people in Europe have HIV-related lipoatrophy or
facial wasting. A patient’s illness is seen on his/her face,
which presents the need.
The global facial aesthetics market was valued at $2.5B in
2013 and is expected to reach $5.4B by 20201
Potential for broader applicability in facial aesthetics in
Europe, United States, Brazil, Korea and other countries.
Facial
Aesthetics
$2.5B $5.4B
2013 2016

12. 12
Renevia®: Beyond HIV-Related Facial Lipoatrophy
Illustration Only: Age-Related
Lipoatrophy
Designed to safely regenerate 3-D adipose tissue
(1) GBI Research Global Facial Aesthetics Market 2014 (2) ASPS 2014 Plastic Surgery Statistics
~1M augmentation or reconstruction surgical procedures
performed by US plastic surgeons in 2014(1)
Renevia® - Potential for better, long-lasting and “more
natural” outcome than fillers by enabling the growth of
new facial tissue
Renevia® is not a dermal filler
Renevia® could enable true regenerative aesthetics

13. Renevia® supported the growth of new fat tissue
when human SVF were transplanted into nude mice
3 Months Post Transplant
• Isolated human SVF cells are transferred
into nude mice
⎻ SVF is stromal vascular fraction, progenitor
cells that are isolated from a lipoaspirate
• At 3 months new lipocytes are present
• At 6 months numerous new lipocytes are
present and spreading across the
engraftment area to form new tissue
• This in essence is what we are trying to
accomplish with Renevia® in man with
the pivotal HIV-LA trial
6 Months Post Transplant
13

14. Renevia® could replace facial fat transfers and be utilized as
an add-on with other cosmetic surgical procedures
14
~220K Liposuctions
>500K surgical procedures in U.S. where Renevia® could possibly be utilized
ASPS 2014 Plastic Surgery Statistics
Add-on procedure to abdominoplasty
– ~125K abdominoplasty procedures/year in the US
Add-on procedure to rhytidectomy
– ~125K rhytidectomy procedures/year in the US
Add-on procedure to liposuction
– ~220K liposuction procedures/year in the US
Replacement for facial fat transfer
– ~70K facial fat transfer procedures/year in the US

15. Renevia® could also be positioned as a premium alternative
to dermal fillers, dramatically increasing the opportunity
15
~220K Liposuctions
Even low penetration as an alternative to dermal filler procedures would
dramatically increase the size of the opportunity
ASPS 2014 Plastic Surgery Statistics; Internal BioTime estimates
Premium alternative to dermal fillers
– ~2.3M dermal filler procedures/year by US plastic surgeons
500K cosmetic surgical procedures

16. OpRegen®: Known Mechanism of Action
Drusen
Retinal Pigment
Epithelium (RPE)
Choroid
Photoreceptors
Dry Age-Related Macular Degeneration (DRY-AMD)
16
The leading cause of blindness in
people over age 60
Loss of RPE cells in the eye can cause
both dry or wet AMD
OpRegen® cells integrate into
subretinal space to replace missing
RPE cells
Off-the-shelf injection as a one-time
therapy
FDA Fast-Track designation

17. 17
OpRegen® Targeting Larger AMD Opportunity
● Lucentis
Approved
Therapies
1.6M new dry-AMD cases in the U.S. annually
90%
Dry-AMD
10%
Wet AMD
AMD afflicts 30+ million people worldwide
Currently, no approved therapies available for this condition
No
Approved
Therapy
● Eylea
>$5B

18. T R I A L D E S I G N
Part 1
Part 2
18
OpRegen® Phase I/IIa: First Patient Dosing 3Q15
Phase I/IIa Study: Dose escalation safety and
efficacy study of OpRegen® transplanted
subretinally in patients with advanced
dry-form of AMD (Geographic Atrophy – GA)
Study Site: Hadassah University Medical Center,
Jerusalem, Israel, and potentially other sites
Dose and Administration: Single escalating
doses of cells in saline injected into
subretinal space
US Approved IND: Open label, non-randomized,
sequential, single center trial for phase I
50,000 cells
Cohort 1 ● 3 Patients
BCVA 20/200 or less
200,000 cells
500,000 cells
Cohort 2 ● 3 Patients
BCVA 20/200 or less
Cohort 3 ● 3 Patients
BCVA 20/200 or less
Cohort 4 ● 6 Patients
BCVA 20/100 or less 500,000 cells

19. Upcoming Milestones
19
Milestones 2016 2017
Renevia®
(HIV Related
Lipoatrophy)
Complete pivotal trial enrollment
Last patient out
File CE mark
Potential to obtain regulatory approval in EU
Initiate pivotal trial in US
OpRegen®
(Macular
Degeneration)
Enrollment of the first cohort for dry AMD
Receive clearance from the DSMB to begin Cohort 2
Expect to complete enrollment of Cohort 2
Anticipate approval to proceed to Cohort 3 from the DSMB
3Q’16
1Q’
17
2Q’
17
2H’
17
1H’17
2Q’16
2Q’16
4Q’16
4Q’16

20. Unlocking Asset Value for BTX Shareholders
BioTime owns ~49% (~$70M) of Asterias (NYSE MKT: AST)
With proprietary, industry-leading platforms based on its pluripotent stem cell and dendritic cell
immunotherapy technologies, Asterias is focused on therapies to treat conditions in several
medical areas where there is high unmet medical need and inadequate available therapies.
20 As of 6/6/16

21. Unlocking Asset Value for BTX Shareholders
BioTime owns ~58% (~$66M) of OncoCyte (NYSE MKT: OCX)
Focused on non-invasive blood and urine diagnostic tests for early detection of cancer to improve
health outcomes through early diagnoses, to reduce the cost of care through the avoidance of
more costly diagnostic procedures, including invasive biopsy and cystoscopic procedures, and to
improve the quality of life for cancer patients.
21 As of 6/6/16

22. 1010 Atlantic Ave. #102
Alameda, CA 94501
510-521-3390
NYSE MKT: BTX
Leading the Regenerative Medicine Revolution
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