This corporate presentation from Caladrius Biosciences outlines their pipeline of late-stage development programs focused on cell and immunotherapies. They have four active programs targeting ischemic repair using CD34+ cells and immune modulation using T regulatory cells. Their lead programs include CLBS12 for critical limb ischemia in Japan, which has received a breakthrough designation, and CLBS14-CMD for coronary microvascular dysfunction in the US. The presentation highlights the large market opportunities and compelling clinical data from prior studies supporting further development of these programs. Caladrius has an experienced management team and a strong cash position to advance multiple value-creating milestones over the next 18 months.

1. Corporate Presentation
David J. Mazzo, PhD
President and Chief Executive Officer
January 2019 | NASDAQ: CLBS

2. Forward-looking statements advisory
This Investor Presentation contains forward-looking statements within the meaning of Private
Securities Litigation Reform Act of 1995. Forward-looking statements reflect management’s
current expectations, as of the date of this presentation, and involve certain risks and
uncertainties. All statements other than statements of historical fact contained in this Investor
Presentation are forward-looking statements. The Company’s actual results could differ
materially from those anticipated in these forward-looking statements as a result of various
factors. Factors that could cause future results to differ materially from the recent results or
those projected in forward-looking statements include the “Risk Factors” described in the
Company’s Annual Report on Form 10-K filed with the Securities and Exchange Commission
(“SEC”) on March 22, 2018, as subsequently amended on April 2, 2018, and in the Company’s
other periodic filings with the SEC. The Company’s further development is highly dependent
on, among other things, future medical and research developments and market acceptance,
which are outside of its control. You are cautioned not to place undue reliance on forward-
looking statements, which speak only as of the date of this Investor Presentation. Caladrius
does not intend, and disclaims any obligation, to update or revise any forward-looking
information contained in this Investor Presentation or with respect to the matters described
herein.
2

3. Caladrius Biosciences: Uniquely positioned for near-term success
 Late-stage therapeutics development company
 Four active development programs; two with “breakthrough” designation*
 CD34+ cells for ischemic repair (CLBS12*, CLBS14-CMD, CLBS14-NORDA1*)
 T regulatory cells for immune modulation (CLBS03)
 Financially stable and debt-free
 Strong balance sheet (~$43 million cash projected for December 31, 2018)
 Low operating cash burn (~18 months of operating cash on-hand2)
 Multiple value creating events within the next 18 months
 Key regulatory and data milestones across the pipeline
3
1Formerly known as CLBS14-RfA
2As of January 1, 2019

4. Experienced executive team with broad domain-specific expertise
David J. Mazzo, PhD
President and Chief Executive Officer
35+ years of experience in all aspects of large pharma (Merck, Baxter, RPR, HMR,
Schering-Plough) and emerging biopharma (Chugai USA, Regado); successful
international drug development across all therapeutic areas, international capital
raising and business transactions; Director and former Chairman of EyePoint Pharma
Douglas W. Losordo, MD
Executive VP, Global Head of R&D and
Chief Medical Officer
25+ years of experience as a leader in cell therapy research and development;
renowned clinician with noteworthy academic (Tufts, Northwestern, NYU) and industry
(Baxter) credentials; pioneer of CD34+ cell therapy
Joseph Talamo, CPA, MBA
Senior VP and Chief Financial Officer
25+ years of experience as a versatile finance executive with strong accounting/audit
background (KPMG) and leadership roles in publicly traded pharmaceutical
development and commercial-stage companies (OSI Pharmaceuticals, BMS)
Todd Girolamo, JD, MBA
Senior VP, General Counsel and
Corporate Secretary
25+ years of legal experience as a practicing attorney (Cahill, Gordon & Reindel; Reid
& Priest) as well as finance and biotechnology industry experience (Oppenheimer,
CIBC, Leerink Swann)
John D. Menditto
Executive Director,
Investor Relations and Corporate Communications
20+ years of experience as an investor relations and corporate communications
professional with a major focus on healthcare and life science (Novartis, Medco Health
Solutions, Argos Therapeutics)
4

5. Ischemic Repair
Autologous CD34+ cells
5

6. CD34+ cells promote angiogenesis of the microvasculature
 >700 subjects studied in randomized double-blind placebo-controlled trials
provide consistent evidence of therapeutic benefit and tolerance
 Improved mortality, reduced chest pain and increased exercise tolerance in refractory angina1
 Reduced amputation in critical limb ischemia2
 Improved function in claudication3
6
1. Losordo et al. Circ Res 2011.; Povsic et al. JACC Cardiovasc Interv. 2016.
2. Losordo et al. Circ Cardiovasc Interv 2012.
3. From US study (n=17); Not yet published
Normal microvasculature Augmented microvasculature
post-CD34+ cells introduction
Compromised microvasculature

7. Simple, scalable and economical autologous cell therapy process
7
Cells returned to
same patient
Maximum of 4 days from donation to injection
Day -3: Patient dosed with GCSF to mobilize CD34+ cells from bone marrow to peripheral blood
Day 1: Sample collection via apheresis; shipment to processing center
Day 2: CD34+ cells isolated, preparation for patient injection and shipment to clinic
Day 3-4: Cells returned to patient through intramuscular, intracoronary or intramyocardial injection, depending on indication
Isolation of
CD34+ cells
Sample collection
ShipmentShipment

8. CLBS12
Critical Limb Ischemia (CLI)
(Japan)
8

9. 9
CLI Represents a Multi-billion Dollar Global Market Opportunity
Japan USA Europe*
No-option CLI patients eligible for CLBS12
(not eligible for revascularization)
~51,000 ~300,000 ~560,000
CLI represents an expedited commercial opportunity in Japan
*Europe:
Source: Independent Third-party analysis; Full third-party report available upon request
 CLBS12 eligible for early conditional approval based on current phase 2 study
 Estimated >$100M initial commercial opportunity with significant pharmaco-eco benefits
 Successful outcome in Japan could lead to expedited development in other major markets

10. 10
Week 12 Post-treatment
BeforeTreatment
Kawamoto et al, Atherosclerosis 2012
Single CD34+ cell therapy administration appears to permanently reverse CLI
ActualCLI Patient
Laser Doppler Imagery

11. 11
Design • Prospective, open label, controlled, randomized trial (1:1 w/SOC) CLI patients
Primary Endpoint • Time to continuous CLI-free status (2 consecutive monthly visits, adjudicated independently)
Study Size • 30 patients with no-option CLI plus 5 patients with Buerger’s Disease; ~10 centers in Japan
Dose • Up to 106 autologous G-CSF-mobilized peripheral blood-derived CD34+ cells/kg per affected limb
Control/ comparator
• Standard of Care drugs approved in Japan (e.g., antiplatelets, anticoagulants and vasodilators)
• Choice of pharmacotherapy will be made by the investigators according to protocol
Mode of
administration • Intramuscular, 20 injections in affected lower limb in single administration
Timing/Cost
• First patient enrolled in December 2017 with final results expected early 2020
• <$7 million costs remain to study completion (fully funded)
CLBS12 phase 2 study in Japan
Awarded SAKIGAKE (“breakthrough”) designation with priority review
Eligible for early conditional approval

12. CLBS14-CMD
Coronary Microvascular Dysfunction (CMD)
(USA)
12

13. 13
CMD is an unmet medical need with significant market potential
1Cleveland Clinic/AHA (American Heart Association)
2Townsend, N, et al.: Cardiovascular disease in Europe: epidemiological update 2016, European Heart Journal, Volume 37, Issue 42, 7 November 2016, Pages 3232–3245
3Kita, T; Coronary heart disease risk in Japan – an East/West divide?, European Heart Journal Supplements, Volume 6, Issue suppl_A, 1 March 2004, Pages A8–A11
4Ueshima, H, et al.; Cardiovascular Disease and Risk Factors in Asia, AHA Journal, December 16/23, 2008, Volume 118, Issue 25
 Nearly 50% of patients with Coronary Artery Disease have CMD
 Multi-billion dollar global opportunity based on significant pharmaco-eco benefits
USA1 Europe2 Japan3,4
~8,300,000 ~6,000,000 ~1,000,000
CMD Patients Eligible for CLBS14-CMD
Europe:

14. CLBS14-CMD Phase 1b/2a proof-of-concept study (ESCaPE-CMD)
Currently enrolling patients in USA
14
Design • Interventional, open label, proof-of-concept trial
Primary Endpoint • Safety and the evaluation of adverse events
Secondary Endpoints
• Changes from baseline to 6 months for coronary flow reserve, endothelial-dependent
microvascular function, time to angina; other cardiovascular metrics
Study Size • 20 patients at 2 centers in the USA (Cedars Sinai, LA & Mayo Clinic)
Dose • Up to 300 x 106 CD34+ cells
Control • No control arm
Mode of administration • Single intracoronary infusion
Timing/Cost
• First patient enrolled April 2018 with final results expected by end of 2019
• NIH grant covers majority of costs
• <$0.5 million CLBS costs remain to study completion (fully funded)

15. CLBS14-NORDA
No Option Refractory Disabling Angina (NORDA)
(USA)
Formerly known as CLBS14-RfA
15

16. Patients Eligible for CLBS14-NORDA
NORDA presents a multi-billion dollar global market opportunity
16
Europe:
USA Europe Japan
<100K ~50K ~30K
 Patients with NORDA often have multiple costly comorbidities
with no current effective treatment options
Source: Independent Third-party analysis; Full third-party report available upon request

17. Compelling previous results support CLBS14-NORDA development
17
 Data license obtained from Shire in 1Q18
 CLBS owns IP for product
 IND active with CLBS as sponsor
 RMAT (Regen Medicine Advanced Therapy) designation – awarded 2Q18
 Granted by the FDA for therapies intended to treat serious conditions
 Therapy must show preliminary evidence of addressing unmet medical need
 Similar to breakthrough therapy designation, it includes increased agency interaction
and potential for accelerated approval
 Type B meeting with FDA completed and discussions to finalize
remaining development steps expected to conclude in 1Q2019
 FDA collaborating and showing flexibility consistent with the RMAT designation

18. 18
Compelling previous results support CLBS14-NORDA development
 CD34+ cell therapy improves exercise tolerance in NORDA patients after single
administration in phase 2 study (n=168)1
1Losordo, D.W., et al., Intramyocardial, autologous CD34+++ cell therapy for refractory angina. Circ Res, 2011.

19. Compelling previous results support CLBS14-NORDA development
 Phases 1, 2, & partial 3 clinical studies1,2,3 completed (combined n=304)
 Compelling results of patient-level pooled-analysis published in European Heart Journal, 1/2018
 Enrollment criteria meet NORDA definition in all studies
19
1 Losordo, D.W., et al, Intramyocardial transplantation of autologous CD34+++ stem cells for intractable angina: a phase I/Iia double-blind, randomized controlled trial. Circluation, 2007. 115(25): p. 3165-3172
2 Losordo, D.W., et al., Intramyocardial, autologous CD34+++ cell therapy for refractory angina. Circ Res, 2011. 109(4): p. 428-36.
3 Povsic, T.J., et al., The RENEW Trial: Efficacy and Safety of Intramyocardial Autologous CD34++(+) Cell Administration in Patients With Refractory Angina. JACC Cardiovasc Interv, 2016. 9(15): p. 1576-85.
IMPROVED total exercise time throughout the 3–
12 month period on treadmill stress test
Significant DECREASE in all-cause mortality at
24 months
LOWER relative frequency of angina throughout
the 3–12 month period

20. Compelling previous results support CLBS14-NORDA development
 Phases 1, 2, & partial 3 clinical studies1,2,3 completed (combined n=304)
 Compelling results of patient-level pooled-analysis published in European Heart Journal, 1/2018
 Enrollment criteria meet NORDA definition in all studies
20
1 Losordo, D.W., et al, Intramyocardial transplantation of autologous CD34+++ stem cells for intractable angina: a phase I/Iia double-blind, randomized controlled trial. Circluation, 2007. 115(25): p. 3165-3172
2 Losordo, D.W., et al., Intramyocardial, autologous CD34+++ cell therapy for refractory angina. Circ Res, 2011. 109(4): p. 428-36.
3 Povsic, T.J., et al., The RENEW Trial: Efficacy and Safety of Intramyocardial Autologous CD34++(+) Cell Administration in Patients With Refractory Angina. JACC Cardiovasc Interv, 2016. 9(15): p. 1576-85.
Pooled angina frequency results

21. Compelling previous results support CLBS14-NORDA development
 Phases 1, 2, & partial 3 clinical studies1,2,3 completed (combined n=304)
 Compelling results of patient-level pooled-analysis published in European Heart Journal, 1/2018
 Enrollment criteria meet NORDA definition in all studies
21
1 Losordo, D.W., et al, Intramyocardial transplantation of autologous CD34+++ stem cells for intractable angina: a phase I/Iia double-blind, randomized controlled trial. Circluation, 2007. 115(25): p. 3165-3172
2 Losordo, D.W., et al., Intramyocardial, autologous CD34+++ cell therapy for refractory angina. Circ Res, 2011. 109(4): p. 428-36.
3 Povsic, T.J., et al., The RENEW Trial: Efficacy and Safety of Intramyocardial Autologous CD34++(+) Cell Administration in Patients With Refractory Angina. JACC Cardiovasc Interv, 2016. 9(15): p. 1576-85.
Major cardiac events (MACE) results

22. Immune Modulation
Autologous, ex vivo expanded & activated polyclonal T regulatory cells
CLBS03
(USA)
22

23. T regulatory cells (Tregs) control immune balance and function
 Deficiency in number or function of Tregs manifests as autoimmune disease
 Augmentation of Tregs is intended to restore the immune system to its “native” state
and reduce/eliminate autoimmune disease symptoms and progression
23
1 Normal immune system:
immune balance
2 Autoimmunity:
immune imbalance
3 Infusion of Tregs:
Immune balance restored
T regulatory cells T effector cells Natural polyclonal T regulatory cells

24. Immune modulation critical to curtailing disease progression
24
Chronic blood glucose
management
Disease Modification
(CLBS03)
Function regeneration
Approach
Symptom management
Reduce or eliminate
disease progression;
potentially “curative”
Replace depleted cells/organs
producing insulin; does not
address underlying autoimmune
disease
Insulin
Impact
Improve therapeutic
effect and/or efficiency of
delivery of insulin/analogs
Avoid or reduce need
for insulin by preserving
active beta cells
Provides new source of insulin
producing cells
Availability Currently available with
more in development
Currently in
Phase 2 trial
Many years of
development remaining

25. 25
USA4 Europe5 Japan6
New onset T1D patients eligible for CLBS03 19,000 54,500 3,000
T1D is a >$1 billion worldwide market opportunity
5Europe:
 Each year ~20,000 newly diagnosed patients <20 years of age in USA1
 3% CAGR worldwide2
 No curative treatments, only lifelong insulin therapy
 Frequent serious, costly co-morbidities
 Preserving remaining beta cell function should slow/stop disease progression
 Leading to long-term pharmaco-economic benefits3
1. National Diabetes Statistic Report, 2014
2. Maahs DM, et al. Endocrinol Metab Clin North Am. 2010
3. Nathan DM, et al. Arch Intern Med. 2009
4. Thunander M et al, Diabetes Res Clin Pract. 2008:82:247-255
5. Haller MJ et al, Pediatr Clin North Am. 2005;52:1553-157
6. Kawasaki E., Matsuura N., Eguchi K., Diabetologia, 2006:49(5):828-36

26. Reliable, scalable & economically viable autologous cell therapy process
 Proprietary and efficient clinical manufacturing process:
 Simple, minimally intrusive cell collection process (whole blood or, eventually, apheresis)
 Reliable and well-characterized cGMP process
 High Phase 2 manufacturing success rate (>93%)
 Discounted development and manufacturing services rates from HCATS through 2024
1 Day 1: Patient whole
blood donation
3 Day ~14: Infusion of Treg
therapy to same patient
Collection & Shipment Processing & Return Shipment Infusion
2 Days 2-13: Treg isolation,
activation & expansion
26

27. Phase 2 (T-rex) trial in adolescents with T1D initiated in March 2016
27
Design
• Double-blind, placebo-controlled, randomized (1:1:1) trial
• Adolescent patients ages 8 to <18 with recent-onset T1D (diagnosed within 100 days)
Standard Endpoints
• Preservation of C-peptide level, insulin use, severe hypoglycemic episodes, glucose
and hemoglobin A1c levels
Study Size • 110 patients enrolled across 15 study sites in the USA (enrollment completed in Dec. 2017)
Power • 80% power to detect a 0.2 pmol/mL difference in AUC mean C-peptide (active vs. placebo)
Dose • CLBS03 dose cohorts of 2.5 or 20 million cells/kg body weight
Control • Placebo (standard of care including insulin)
Mode of Administration • Single infusion
Timing/Cost
• Top-line data in early 2019
• ~$1 million in study costs remaining (fully funded)

28. CLBS03: Recent onset Type 1 Diabetes program summary
 International regulatory recognition
 FDA Fast Track (first time granted to a T1D program) and Orphan designation
 EU ATMP (Advanced Therapeutic Medicinal Product) classification
 Enrollment completed for landmark Phase 2 clinical study in T1D (T-Rex trial)
 T-rex trial based on published clinical studies showing the T regulatory cell therapy is
well tolerated1,2, durable1 and preserving of beta cell function in children2
 CIRM and JDRF grants of ~$10 million combine to offset study costs
 Strategic collaboration with Sanford Research (Sioux Falls, SD) providing $5 million in
equity investment plus operating support for trial and clinical sites
 Planned interim analysis completed: therapy is well tolerated and non-futile for
therapeutic effect
 Primary endpoint analysis on track for 1Q2019
28
1. Bluestone, et al. Science Translational Medicine 2015
2. Marek-Trzonkowska, N et al. Clinical Immunology 2014
3. Remission Definition: Daily dose of insulin ≤ 0.5 UI/kg body weight & fasting c-peptide > 0.5 ng/ml at 12 months after recruitment

29. Country: USA
Pre-Clinical Phase 1 Phase 2 Phase 3
Country: USA
Country: Japan
Multi-product pipeline based on proprietary technology platforms
29
Active trial
Development plan to
BLA pending finalization
of discussions with FDA
CLBS14-CMD Coronary Microvascular Dysfunction
CD34+ Cell Therapy Platform
(Ischemic Repair)
T Regulatory Cell Therapy Platform
(Immune Modulation)
CLBS12 Critical Limb Ischemia*
CLBS03 Recent Onset Type 1 Diabetes
CLBS14-NORDA No Option Refractory Disabling Angina Country: USA
*Eligible for early conditional approval

30. Program 2019 2020
Phase 2 Topline Data
Expected
Phase 2 Topline Data
Expected
Phase 2 Topline
Data Expected
Finalize Clinical
Plan with FDA
Timeline of key development milestones by project
30
CLBS03 (Type 1 Diabetes)---------------------------------------------------------------------------------------------------------------------
CLBS12 (Critical Limb Ischemia)---------------------------------------------------------------------------------------------------------------
CLBS14-NORDA (No Option Refractory ----------------------------------------------------------------------------------------------------
Disabling Angina)
CLBS14-CMD (Coronary Microvascular Dysfunction)----------------------------------------------------------------------------------------
Pivotal Clinical
Trial Initiation
Target
Target Enrollment
Completion
Target Enrollment
Completion

31. Key CLBS financial information
31
Unaudited Year-end Cash 2018: $43m
Unaudited 2018 Operating Cash Burn:
(Includes ~$2m PCT-sale related one-time payments)
~$21m
Cash Runway Based on Current Plan:
(Including CLBS14-NORDA Clinical Initiation Costs ~18 months*
Long-Term Debt: $0
Common Shares Outstanding: 10m shares
Options Outstanding:
Exercise Price < $5.00 = 481,000 shares
Exercise Price < $25.00 = 192,000 shares
Exercise Price > $25.00 = 363,000 shares
~1m shares
*As of Jan. 1, 2019

32. Caladrius Biosciences: Uniquely positioned for near-term success
 Late-stage therapeutics development company
 Four active development programs; two with “breakthrough” designation*
 CD34+ cells for ischemic repair (CLBS12*, CLBS14-CMD, CLBS14-NORDA1*)
 T regulatory cells for immune modulation (CLBS03)
 Financially stable and debt-free
 Strong balance sheet (~$43 million cash projected for December 31, 2018)
 Low operating cash burn (~18 months of operating cash on-hand2)
 Multiple value creating events within the next 18 months
 Key regulatory and data milestones across the pipeline
32
1Formerly known as CLBS14-RfA
2As of January 1, 2019

33. Investor Relations Contact
John D. Menditto
Phone: 908.842.0084
Email: jmenditto@caladrius.com
www.caladrius.com
33
NASDAQ: CLBS