This presentation summarizes the business of Advanced Cell Technology Inc (ACT), a regenerative medicine company. ACT has multiple pluripotent stem cell platforms including embryonic stem cell lines and induced pluripotent stem cells. ACT has clinical programs in retinal pigment epithelium cells for dry age-related macular degeneration and Stargardt's macular dystrophy. Preliminary results from Phase I trials show no safety issues and signs of efficacy. ACT also has programs in mesenchymal stem cells and hemangioblast cells. ACT has a strong balance sheet to advance its clinical and preclinical programs.

1. Boston, MA
20 September 2012
Boston, MA
20 September 2012
LEADING
REGENERATIVE
MEDICINE
Stem Cells USA & Regenerative
Medicine Congress

2. This presentation is intended to present a summary of ACT’s (“ACT”, or “Advanced Cell
Technology Inc”, or “the Company”) salient business characteristics.
The information herein contains “forward‐looking statements” as defined under the federal
securities laws. Actual results could vary materially. Factors that could cause actual results
to vary materially are described in our filings with the Securities and Exchange Commission.
You should pay particular attention to the “risk factors” contained in documents we file from
time to time with the Securities and Exchange Commission. The risks identified therein, as
well as others not identified by the Company, could cause the Company’s actual results to
differ materially from those expressed in any forward‐looking statements. Ropes Gray
Cautionary Statement Concerning Forward‐Looking Statements
2

3. Multiple Pluripotent Cell Platforms
Single Blastomere-derived
Embryonic Stem Cell Lines
Generating hESC lines
WITHOUT DESTRUCTION OF EMBRYO
Utilizes a
SINGLE CELL BIOPSY
Induced Pluripotency Stem Cells (iPS)
• Early Innovator in Pluripotency (before iPS was even a term!)
• Controlling Filings (earliest priority date) to use of OCT4 for inducing pluripotency
3
Final Product Definition: hESC-derived
products will be manufactured using a cell
line made in 2005 from single cell isolated
without the destruction of any embryos

4. RPE Clinical Program

5. 5
retina
Life Support to Photoreceptors
Rod outer segments
Cone outer segments
RPE
Bruch’s membrane
Choroidal vessels

6. 6
Life Support to Photoreceptors
Detoxifies photoreceptor layer
Maintains Bruch’s Membrane
• natural antiangiogenic barrier
• immune privilege of retina
Absorbs stray light / protects from UV
Provides critical nutrients, growth
factors, ions and water
• photoreceptors see no blood
Recycles Vitamin A
• maintains photoreceptor
excitability
Function of
RPE Layer
Rod outer segments
Cone outer segments
RPE
Bruch’s membrane
Choroidal vessels

7. 7
Life Support to Photoreceptors
Loss of RPE cells
Build up of toxic waste
Loss of photoreceptors
Dry AMD
Bruch’s Mem. dehiscence
Choroidal neovascularization
Wet AMD

8. • Easy to identify – aids manufacturing
• Small dosage size – less than 200K cells
• Immune-privileged site - minimal/no immunosuppression
• Ease of administration - no separate device approval
RPE cell therapy may impact
over 200 retinal diseases
8
RPE Therapy- Rationale

9. 9
RPE Therapy- Rationale
Early Stage AMD
(10-15M)
Intermediate AMD
(5-8M)
Late Stage AMD
(1.75M)
U.S. Patient Population ACT’s RPE Cell Therapy should address
the full range of dry AMD patients.
• Halt progression of vision loss in early
stage patients
• Restore some visual acuity in later
stage patients
Dry AMD represents more than 90
percent of all cases of AMD
North America and Europe alone have
more than 30 Million dry AMD patients
who should be eligible for our RPE cell
therapy.

10. • GMP process for differentiation and purification of RPE
– Virtually unlimited supply from stem cell source
– Optimized for manufacturing
Ideal Cell Therapy Product
– Centralized Manufacturing
– Small Doses
– Easily Frozen and Shipped
– Simple Handling by Doctor
GMP Manufacturing
10
Product Cold Chain is Easily Scaled for Global Sales

11. Characterizing Clinical RPE Lots
11
• RPE cells are derived from an extensively tested hES MCB.
• Entire process is aspetic; no antibiotics used (~110 days).
• Cryopreserved bulk product is extensively tested prior to release.
• Bulk product is thawed and formulated for therapeutic on the day of use.
• Some unique quality tests include:
• Screening for the absence of hES cells (IFA)
• Assessing the extent of differentiation by:
• gene expression (q-RT-PCR)
• protein deposition (IFA staining)
• morphological evaluation
• extent of pigmentation (melanin)
• potency by phagocytosis assays (FACS)
In-Process Quality Testing
• Frequent Morphological
Assessments (1-2days)
• Periodic Sterility Testing
• Regular Karyotyping
• Immunohistochemical Staining
for RPE Markers

12. Characterizing Clinical RPE Lots
12
Quantitative Potency Assay
RPE cell potency of each lot is assessed
by phagocytosis
4°C 37°C

13. Effects of Pigmentation
13
Use melanin content to determine optimal
time to harvest and cryopreserve RPE.
y = 0.0141x + 0.0007
0.00
0.50
1.00
1.50
2.00
0 20 40 60 80 100120
Absorbanceat475nm
µg/mL Melanin
Quantitative Pigmentation Assay

14. Preclinical - Examples
14
control treated
Injected human RPE cells
repair monolayer structure in
eye
Photoreceptor
layer
photoreceptor layer
is only 0 to 1 cell
thick without
treatment

15. Phase I - Clinical Trial Design
15
SMD and dry AMD Trials approved in U.S., SMD Trial approved in U.K.
12 Patients / trial
ascending dosages of 50K, 100K, 150K and 200K cells.
Regular Monitoring - including high definition imaging of retina
50K Cells 100K Cells 150K Cells 200K Cells
Patient 1 Patients 2/3
DSMB Review DSMB Review

16. Phase I – SMD endpoints
16
PRIMARY ENDPOINTS:
ASSESSMENT OF
SAFETY
The transplantation of hESC-derived RPE cells MA09-hRPE will be considered safe and tolerated
in the absence of:
 Any grade 2 (NCI grading system) or greater adverse event related to the cell product
 Any evidence that the cells are contaminated with an infectious agent
 Any evidence that the cells show tumorigenic potential
SECONDARY
ENDPOINTS
Evidence of successful engraftment will consist of:
 Structural evidence (OCT, fluorescein angiography, autofluorescense photography, slit-lamp
examination with fundus photography) that cells have been implanted in the correct location
 Electroretinographic evidence (mfERG) showing enhanced activity in the implant location
Evidence of rejection will consist of:
 Structural (imaging) evidence that implanted MA09-hRPE cells are no longer in the correct
location or the presence of vascular leakage.
 If enhanced electroretinographic activity is observed after the transplantation, subsequent
electroretinographic evidence that activity has returned to pre-transplant conditions may be an
indication of graft rejection
CONFIDENTIAL

17. Phase I – Dry AMD endpoints
17
PRIMARY ENDPOINTS:
ASSESSMENT OF
SAFETY
The transplantation of hESC-derived RPE cells MA09-hRPE will be considered safe and tolerated
in the absence of:
 Any grade 2 (NCI grading system) or greater adverse event related to the cell product
 Any evidence that the cells are contaminated with an infectious agent
 Any evidence that the cells show tumorigenic potential
SECONDARY
ENDPOINTS
Evidence of successful engraftment will consist of:
 Structural evidence (OCT, fluorescein angiography, autofluorescense photography, slit-lamp
examination with fundus photography) that cells have been implanted in the correct location
 Electroretinographic evidence (mfERG) showing enhanced activity in the implant location
Evidence of rejection will consist of:
 Structural (imaging) evidence that implanted MA09-hRPE cells are no longer in the correct
location or the presence of vascular leakage.
 If enhanced electroretinographic activity is observed after the transplantation, subsequent
electroretinographic evidence that activity has returned to pre-transplant conditions may be an
indication of graft rejection
Additional secondary
endpoints will be
evaluated as exploratory
evaluations for potential
efficacy endpoints.
CONFIDENTIAL

18. Participating Clinical Sites
18
World-leading eye surgeons and retinal
clinics participate in clinical trials, DSMB
and Scientific Advisory Board
• US Clinical Trial Sites
• Jules Stein Eye (UCLA)
• Wills Eye Institute
• Bascom Palmer Eye Institute
• Massachusetts Eye and Ear Infirmary
• European Clinical Trial Sites
• Moorfields Eye Hospital
• Edinburgh Royal Infirmary
ClinicalTrials.gov
US: NCT01345006, NCT01344993
UK: NCTO1469832

19. Surgical Overview
19
Procedure:
• 25 Gauge Pars Plana
Vitrectomy
• Posterior Vitreous Separation
(PVD Induction)
• Subretinal hESC-derived RPE
cells injection
• Bleb Confirmation
• Air Fluid Exchange

20. Preliminary Results
20
No Adverse Events
No signs of hyperproliferation,
abnormal growth, rejection or retinal
detachment.
Persistence of cells
Anatomical evidence of hESC-RPE
survival and engraftment.
Increased pigmentation within the bed
of the transplant.
Impact on Acuity
Recorded functional visual
improvements in both patients.

21. Preliminary Results – Initial Patients
21
Visual Acuity Measurements
• SMD Patient: BCVA improved from hand motions to 20/800 and
improved from 0 to 5 letters on the ETDRS visual acuity chart
• Dry AMD Patient: Vision improved in the patient with dry age-
related macular degeneration (21 ETDRS letters to 28)
One Year Follow-up:
• Visual acuity gains remain relatively stable for both patients
• SMD Patient continues to show improvement.
U.K. SMD01 Patient (at 6 month follow-up)
• ETDRS: Improved from 5 letters to 10 letters
• Subjective: Reports significantly improved ability to read text on TV

22. Current Safety Profile – Stargardt’s Trial
22
7 SMD Patients Treated (as of 7 September 2012)
3 patients (50K cells cohort) treated at UCLA – US Trial
3 patients (50K cells cohort) treated at Moorfields Eye – UK Trial
1 patient (100K cells cohort) treated at Wills Eye – US Trial
No reports of any adverse events or complications due to
cells per se
• No evidence of inflammation or infiltration
• No evidence of ectopic tissue formation
• No evidence of retinal detachment

23. Current Safety Profile – Dry AMD Trial
23
4 dry AMD Patients Treated (as of 7 September 2012)
3 patients (50K cells cohort) treated at UCLA – US Trial
1 patient (100K cells cohort) treated at Wills Eye – US Trial
No reports of any adverse events or complications due to
cells per se
• No evidence of inflammation or infiltration
• No evidence of ectopic tissue formation
• No evidence of retinal detachment

24. Intellectual Property – RPE Program
• Treatment - Dominant Patent Position for Treating Retinal Degeneration
• Manufacturing - Broad Coverage for Manufacturing RPE Cells from hESC
• Preparations - Claims directed to pharmaceutical preparations of RPE Cells
from hESC, including both cell suspensions and scaffolded RPE layers.
• Sources – Issued patents cover RPE Cells derived from other pluripotent stem
cells (including iPS cells)
• Vigilance – Regularly Filing on Improvements
• Extend patent life cycle, with significance to commercialization
• Include composition-of-matter claims (cell preparations, pharmaceutical
preparations, etc.)
24

25. Price Justification
25
Unmet Therapeutic Need
Efficacy
Patient Prevalence
Pharmacoeconomics
Patient Advocacy
Pricing Justification
across all categories
of consideration

26. RPE Program - Investment Thesis
26
• Immense unmet medical need
• Small Doses
• Immunoprivileged – permits central (allogeneic) source of cells
• Noninvasive monitoring of retina
Market potential: More than 50 million patients in major markets.
1% market penetration may represent $5-10B market opportunity.
Orphan indications are meaningful: Estimating a 10% market penetration
with reoccurring treatments every 3-5 years, Stargardt’s disease can be a
$100+ million/year product.

27. ACT MSC Program

28. Mesenchymal Stem Cells in Therapy
28
Mesenchymal stem cells (MSCs) regulate immune responses
provide therapeutic potential for treating autoimmune or
inflammatory diseases.
• Allogeneic - without HLA matching.
• Potential
• Autoimmune conditions, such as MS, lupus, and Crohn's/IBD.
• Inflammatory Diseases
• Track Record - Adult-derived MSCs already in 200+ clinical trials.
An "off-the-shelf" cellular drug ready for treatment of a
wide range of inflammatory and autoimmune diseases.

29. Adult Mesenchymal Stem Cells
29
Impacts on Cell Banking
• Limitation on the number of doses that can be generated from
adult donors
• Requires constantly creating and validating MSC banks
from new donors
Impacts on Potency
• Passaging reduces immunomodulatory potency of MSC’s.
Replicative Capacity - limits adult sources (bone marrow,
fat, etc) for allogeneic MSC therapies.
Substantial need for
better MSC products

30. hESC- and iPS – derived MSC
30
ACT Proprietary Process
• hESC-derived MSCs can be expanded to large
numbers of cells
• Have qualities similar to fetal MSC’s
• Avoid replicative capacity problem of “old” adult MSC’s
Advantages for Manufacturing
• Use Single Master Cell Bank
• Simplifies FDA/regulatory process
• No need for finding donors
• Less labor-intensive

31. Preliminary Data
31
Animal Models testing hESC-derived MSC’s
Substantially decrease and reverse disease conditions
in autoimmune models.
• Far more potent than adult (BM) derived MSCs.
• Have longer duration of action compared to adult
(BM) derived MSCs.
Potential implications of increased potency and duration…
• Broader utility in range of diseases.
• Reduced cells per dose – improved safety profile.
• Longer duration between injections.

32. Potential applications
32
• >100 autoimmune diseases
• Multiple Sclerosis
• Osteoarthritis
• Aplastic Anemia
• Crohn’s Disease/IBS
• Chronic Pain
• Limb Ischemia
• Heart Failure/MI
• Stroke
• Graft-versus-host Disease
• Spinal Cord Injury
• Parkinson’s Disease
• Liver Cirrhosis
• Emphysema/Pulmonary Diseases
• Wound healing
(ulcers/decubitus/burns)
• HSC engraftment/irradiated
cancer patients
• Eye diseases (uveitis, retinal
degeneration, glaucoma)

33. ACT Vascular Program

34. Hemangioblast Program: Overview
34
The Hemangioblast cell is a multipotent cell, and a common
precursor to hematopoietic and endothelial cells.
Hemangioblast cells can be used
to produce all cell types in the
circulatory and vascular systems

35. Generation of megakaryoctyes/platelets
35
Human ES cells Hemangioblasts
Megakaryocyte Pro‐plateletsCD41/vWF/DAPI

36. Characterization of Platelets
36
hESC- and iPS-derived platelets participate
in clot formation and retraction

37. Next Steps
37
 Testing hES/hiPSC-platelets in vitro
• Morphology
• Biochemical status
• Physiological responses
 Testing hES/hiPSC-platelets in vivo
• Collaborations underway with several leading groups
(including Harvard University, Columbia University,
and University of Illinois College of Medicine)
 in vivo circulation and half-life
 in vivo function

38. Financial Update – Strong Balance Sheet
38
• Company ended 2012 Q2 with $10 million cash on hand
• $35 million more available under equity line
• Virtually debt-free
• Received shareholder approval for reverse split
• Filed application for NASDAQ uplisting and have initial comments
Other 2012 Milestones (so far)
• IRB approvals from Wills Eye Institute, Bascom Palmer Eye Hospital and
Massachusetts Eye & Ear
• Initiated Europe’s first human ESC-derived transplant at Moorfields Eye Hospital
• Published first report of hESC-derived cells transplanted into humans in top
medical journal, The Lancet.
• Completed Dose Cohort 1 of patients in both U.S. trials;
• Dosed first SMD and dry AMD patients in 100,000 cell cohorts – no AE’s observed.

39. ACT Management Team
Highly Experienced and Tightly Integrated Management Team
Gary Rabin – Chairman & CEO
Dr. Robert Lanza, M.D. – Chief Scientific Officer
Edmund Mickunas – Vice President of Regulatory Affairs
Dr. Irina Klimanskaya, Ph.D. – Director of Stem Cell Biology
Dr. Shi-Jiang (John) Lu, Ph.D. – Senior Director of Research
Dr. Roger Gay, Ph.D. - Senior Director of Manufacturing
Kathy Singh - Controller
Rita Parker – Director of Operations
Dr. Matthew Vincent, Ph.D. – Director of Business Development
Bill Douglass – Dir. of Corporate Communications & Social Media
39

40. Thank you
For more information, visit www.advancedcell.com