425

Filed by: NantKwest, Inc. Pursuant to Rule 425 under the Securities Act of 1933 and deemed filed pursuant to Rule 14a-12 under the Securities Exchange Act of 1934 Subject Company: NantKwest, Inc. Commission File No.: 001-37507 ImmunityBio Announces Combination with NantKwest to Create a Clinical-Stage Immunotherapy Leader December 21, 2020 ImmunityBio, Inc. – Confidential, Not for DistributionFiled by: NantKwest, Inc. Pursuant to Rule 425 under the Securities Act of 1933 and deemed filed pursuant to Rule 14a-12 under the Securities Exchange Act of 1934 Subject Company: NantKwest, Inc. Commission File No.: 001-37507 ImmunityBio Announces Combination with NantKwest to Create a Clinical-Stage Immunotherapy Leader December 21, 2020 ImmunityBio, Inc. – Confidential, Not for Distribution


Transaction Overview 2 ImmunityBio, Inc. – Confidential, Not for DistributionTransaction Overview 2 ImmunityBio, Inc. – Confidential, Not for Distribution


Our Opportunity to Lead in Immunotherapy Expansive clinical-stage pipeline and intellectual property. 13 assets in clinical trials, including 11 in Phase II to III clinical trials, as well as a strong global intellectual property portfolio of over 400 issued and pending worldwide patent applications with patent life extending to 2035 and beyond. Differentiated technology and assets. Best-in-class combined discovery and development platforms for novel therapies and next-generation early-stage candidates across immunotherapy, neoepitopes and molecules enhancing allogenic and autologous NK and T-cell therapies. Cutting-edge cell manufacturing expertise and ready-to-scale facilities. Extensive and seasoned R&D, clinical trial, and regulatory operations and development teams, which together will occupy over 200,000 square feet of facilities devoted to manufacturing and R&D. Improved ability to combine platforms and therapies. The transaction improves the ability to more seamlessly combine programs and leverage resources and expertise across both companies’ platforms, ultimately strengthening the efforts of both companies on behalf of patients to drive better outcomes in the fight against oncology and infectious disease. Significant potential for strategic and financial synergies. This opportunity will come from meaningful streamlining of clinical operations, therapeutic discovery and development, and manufacturing. ImmunityBio – Transaction Overview Consolidated Pipeline ImmunityBio Closing NantKwest Combinations ImmunityBio, Inc. – Confidential, Not for Distribution 3Our Opportunity to Lead in Immunotherapy Expansive clinical-stage pipeline and intellectual property. 13 assets in clinical trials, including 11 in Phase II to III clinical trials, as well as a strong global intellectual property portfolio of over 400 issued and pending worldwide patent applications with patent life extending to 2035 and beyond. Differentiated technology and assets. Best-in-class combined discovery and development platforms for novel therapies and next-generation early-stage candidates across immunotherapy, neoepitopes and molecules enhancing allogenic and autologous NK and T-cell therapies. Cutting-edge cell manufacturing expertise and ready-to-scale facilities. Extensive and seasoned R&D, clinical trial, and regulatory operations and development teams, which together will occupy over 200,000 square feet of facilities devoted to manufacturing and R&D. Improved ability to combine platforms and therapies. The transaction improves the ability to more seamlessly combine programs and leverage resources and expertise across both companies’ platforms, ultimately strengthening the efforts of both companies on behalf of patients to drive better outcomes in the fight against oncology and infectious disease. Significant potential for strategic and financial synergies. This opportunity will come from meaningful streamlining of clinical operations, therapeutic discovery and development, and manufacturing. ImmunityBio – Transaction Overview Consolidated Pipeline ImmunityBio Closing NantKwest Combinations ImmunityBio, Inc. – Confidential, Not for Distribution 3


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Significant Market Opportunity for Lead Programs BCG Unresponsive Non-Muscle Non-Small Cell Lung Cancer Pancreatic Cancer COVID-19 Invasive Bladder Cancer 1L Squamous & Non-Squamous 3L Metastatic COVID-19 Vaccine NSCLC Pancreatic Cancer ~81k ~106k ~31k ~350mm Bladder cancer Targeted 1L patients Targeted 3L patients Targeted patients in the patients in the U.S. in the U.S. in the U.S. U.S. 2L or Greater Checkpoint 1L/2L Metastatic Relapsed NSCLC Pancreatic Cancer ~18k ~21k ~49k | ~39k Targeted patients in patients in the U.S. Targeted 1L and 2L, the U.S. respectively, patients in the U.S. ImmunityBio – Transaction Overview Consolidated Pipeline ImmunityBio Closing NantKwest Combinations ImmunityBio, Inc. – Confidential, Not for Distribution 7Significant Market Opportunity for Lead Programs BCG Unresponsive Non-Muscle Non-Small Cell Lung Cancer Pancreatic Cancer COVID-19 Invasive Bladder Cancer 1L Squamous & Non-Squamous 3L Metastatic COVID-19 Vaccine NSCLC Pancreatic Cancer ~81k ~106k ~31k ~350mm Bladder cancer Targeted 1L patients Targeted 3L patients Targeted patients in the patients in the U.S. in the U.S. in the U.S. U.S. 2L or Greater Checkpoint 1L/2L Metastatic Relapsed NSCLC Pancreatic Cancer ~18k ~21k ~49k | ~39k Targeted patients in patients in the U.S. Targeted 1L and 2L, the U.S. respectively, patients in the U.S. ImmunityBio – Transaction Overview Consolidated Pipeline ImmunityBio Closing NantKwest Combinations ImmunityBio, Inc. – Confidential, Not for Distribution 7


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Consolidated Pipeline ImmunityBio, Inc. – Confidential, Not for DistributionConsolidated Pipeline ImmunityBio, Inc. – Confidential, Not for Distribution


Unparalleled Pipeline Across Oncology and Infectious Disease Phase Target Indication Pre-clinical Ph I Ph II Ph III ImmunityBio NantKwest BCG Unresponsive NMIBC Carcinoma In-Situ (CIS) Disease Breakthrough & Fast Track II / III ✓ Bladder BCG Unresponsive NMIBC Papillary Disease Fast Track II ✓ 1L Squamous & Non-Squamous NSCLC CPI Alone III ✓ Lung 1L NSCLC CPI + Concurrent Chemo III ✓ 2L or Greater Checkpoint Relapsed NSCLC IIb ✓ Glioblastoma Recurrent Glioblastoma II ✓ II / III 3L Metastatic Pancreatic Cancer ✓ ✓ Pancreatic II / III 1L / 2L Metastatic Pancreatic Cancer ✓ ✓ Breast 3L or Greater Triple Negative Breast Cancer Ib/II ✓ ✓ Merkel Recurrent Merkel Cell Carcinoma II ✓ ✓ I COVID-19 Therapeutic ✓ ✓ COVID-19 COVID-19 Vaccine Trials: TCELLVACCINE I / II / III ✓ ✓ hAd5 S-Fusion + N-ETSD (SC, Oral) HIV Human Immunodeficiency Virus (HIV) I ✓ N-820 Pre-IND Liquid Tumors: IL-15 Superagonist + Anti CD20 Fusion Protein ✓ N-809 Pre-IND Solid Tumors: IL-15 Superagonist + Anti PD-L1 Fusion Protein ✓ Solid Tumors: Tumor Necrosis Targeting (TNT) Pre-IND N-830 ✓ TNT + TGFb Trap Fusion Protein Solid Tumors: Tumor Necrosis Targeting (TNT) N-812 Pre-IND ✓ TNT + IL-12 Fusion Protein CD19 t-haNK IND Auth Diffuse Large B Cell Lymphoma ✓ HER2 t-haNK Pre-IND HER2+ Breast Cancer / Gastric Cancer ✓ EGFR t-haNK Pre-IND EGFR+ Squamous Cell Carcinoma ✓ M-ceNK Pre-IND All Solid & Liquid Tumors ✓ ImmunityBio – Transaction Overview Consolidated Pipeline ImmunityBio Closing NantKwest Combinations ImmunityBio, Inc. – Confidential, Not for Distribution 11 Pre-Clinical Clinical Stage Antibody NK Infectious Late Stage Clinical Development: Cytokine Platform Disease Anktiva Fusion ProteinsUnparalleled Pipeline Across Oncology and Infectious Disease Phase Target Indication Pre-clinical Ph I Ph II Ph III ImmunityBio NantKwest BCG Unresponsive NMIBC Carcinoma In-Situ (CIS) Disease Breakthrough & Fast Track II / III ✓ Bladder BCG Unresponsive NMIBC Papillary Disease Fast Track II ✓ 1L Squamous & Non-Squamous NSCLC CPI Alone III ✓ Lung 1L NSCLC CPI + Concurrent Chemo III ✓ 2L or Greater Checkpoint Relapsed NSCLC IIb ✓ Glioblastoma Recurrent Glioblastoma II ✓ II / III 3L Metastatic Pancreatic Cancer ✓ ✓ Pancreatic II / III 1L / 2L Metastatic Pancreatic Cancer ✓ ✓ Breast 3L or Greater Triple Negative Breast Cancer Ib/II ✓ ✓ Merkel Recurrent Merkel Cell Carcinoma II ✓ ✓ I COVID-19 Therapeutic ✓ ✓ COVID-19 COVID-19 Vaccine Trials: TCELLVACCINE I / II / III ✓ ✓ hAd5 S-Fusion + N-ETSD (SC, Oral) HIV Human Immunodeficiency Virus (HIV) I ✓ N-820 Pre-IND Liquid Tumors: IL-15 Superagonist + Anti CD20 Fusion Protein ✓ N-809 Pre-IND Solid Tumors: IL-15 Superagonist + Anti PD-L1 Fusion Protein ✓ Solid Tumors: Tumor Necrosis Targeting (TNT) Pre-IND N-830 ✓ TNT + TGFb Trap Fusion Protein Solid Tumors: Tumor Necrosis Targeting (TNT) N-812 Pre-IND ✓ TNT + IL-12 Fusion Protein CD19 t-haNK IND Auth Diffuse Large B Cell Lymphoma ✓ HER2 t-haNK Pre-IND HER2+ Breast Cancer / Gastric Cancer ✓ EGFR t-haNK Pre-IND EGFR+ Squamous Cell Carcinoma ✓ M-ceNK Pre-IND All Solid & Liquid Tumors ✓ ImmunityBio – Transaction Overview Consolidated Pipeline ImmunityBio Closing NantKwest Combinations ImmunityBio, Inc. – Confidential, Not for Distribution 11 Pre-Clinical Clinical Stage Antibody NK Infectious Late Stage Clinical Development: Cytokine Platform Disease Anktiva Fusion Proteins


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Selected Summary of Upcoming Catalysts Ph Trial Status Timing • Full Accrual • Q4 2020 • Initial Readout for FDA • 1H 2021 II / III BCG Unresponsive NMIBC Carcinoma In-Situ (CIS) 2L Bladder • BLA Filing • 2H 2021 • Full Accrual • Q4 2021 II BCG Unresponsive NMIBC Papillary 2L • Initial Readout • Q1 2022 III Non-Small Cell Lung 1L CPI Chemo Free • Activating Sites / Enrolling Patients • Ongoing Lung III Non-Small Cell Lung Cancer 1L CPI + Concurrent Chemo • Activating Sites / Enrolling Patients • Ongoing IIb Checkpoint Relapsed Lung 2L or Greater • Confirm Registrational Protocol Design • Q1 2021 Pancreatic II / III Pancreatic Cancer 3L • Confirm Registrational Protocol Design • Q2 2021 Breast Ib / II Triple Negative Breast Cancer 2L or Greater • Confirm Registrational Protocol Design • Q2 2021 Glioblastoma II Recurrent Glioblastoma • Confirm Registrational Protocol Design • Q1 2021 Merkel Cell II Merkel Cell Carcinoma • Activating Sites / Enrolling Patients • Ongoing Carcinoma COVID-19 I / II / III Human Adenovirus (hAd5) COVID-19 Vaccine (TCELLVACCINE) • Phase I Readout • Q1 2021 ImmunityBio – Transaction Overview Consolidated Pipeline ImmunityBio Closing NantKwest Combinations ImmunityBio, Inc. – Confidential, Not for Distribution 13Selected Summary of Upcoming Catalysts Ph Trial Status Timing • Full Accrual • Q4 2020 • Initial Readout for FDA • 1H 2021 II / III BCG Unresponsive NMIBC Carcinoma In-Situ (CIS) 2L Bladder • BLA Filing • 2H 2021 • Full Accrual • Q4 2021 II BCG Unresponsive NMIBC Papillary 2L • Initial Readout • Q1 2022 III Non-Small Cell Lung 1L CPI Chemo Free • Activating Sites / Enrolling Patients • Ongoing Lung III Non-Small Cell Lung Cancer 1L CPI + Concurrent Chemo • Activating Sites / Enrolling Patients • Ongoing IIb Checkpoint Relapsed Lung 2L or Greater • Confirm Registrational Protocol Design • Q1 2021 Pancreatic II / III Pancreatic Cancer 3L • Confirm Registrational Protocol Design • Q2 2021 Breast Ib / II Triple Negative Breast Cancer 2L or Greater • Confirm Registrational Protocol Design • Q2 2021 Glioblastoma II Recurrent Glioblastoma • Confirm Registrational Protocol Design • Q1 2021 Merkel Cell II Merkel Cell Carcinoma • Activating Sites / Enrolling Patients • Ongoing Carcinoma COVID-19 I / II / III Human Adenovirus (hAd5) COVID-19 Vaccine (TCELLVACCINE) • Phase I Readout • Q1 2021 ImmunityBio – Transaction Overview Consolidated Pipeline ImmunityBio Closing NantKwest Combinations ImmunityBio, Inc. – Confidential, Not for Distribution 13


Introduction to ImmunityBio ImmunityBio – NantKwest Combinations ImmunityBio, Inc. – Confidential, Not for DistributionIntroduction to ImmunityBio ImmunityBio – NantKwest Combinations ImmunityBio, Inc. – Confidential, Not for Distribution


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Bladder Phase I Results in NMIBC Lung Other Anktiva+BCGinHigh-RiskNMIBC–PhaseIResults Response Assessments Dose FDA granted (intravesicular Patient Stage W12 6M 9M 12M 15M 18M 21M 24M instillation) Fast Track Designation to 1 Pap T1 CR* CR CR CR CR CR CR CR the pivotal trial 100 μg 2 Pap Ta CR* CR CR CR CR CR CR CR based on this 3 Pap T1 CR* CR CR CR CR CR CR CR Phase I data. 4 Pap T1 IC CR* CR CR CR CR CR CR 200 μg 5 CIS IC IC IC CR CR CR CR CR 6 Pap T1 CR* CR CR CR CR CR CR CR 7 Pap T1 CR* CR CR CR CR CR CR CR Standard of Care historical response rate 400 μg 8 CIS CR* CR CR CR CR CR CR CR** is 58-81% at 3-6 months 9 Pap Ta CR* CR CR CR CR CR CR CR post BCG alone CR – Complete Response Data as of Feb 2018 CR* -- No Recurrence (NR) in Papillary Disease CR** -- Negative Cystoscopy Inconclusive Cytology 9 of 9 (100%) Patients Disease-Free at 24 Months ImmunityBio – Transaction Overview Consolidated Pipeline ImmunityBio Closing NantKwest Combinations ImmunityBio, Inc. – Confidential, Not for Distribution 16Bladder Phase I Results in NMIBC Lung Other Anktiva+BCGinHigh-RiskNMIBC–PhaseIResults Response Assessments Dose FDA granted (intravesicular Patient Stage W12 6M 9M 12M 15M 18M 21M 24M instillation) Fast Track Designation to 1 Pap T1 CR* CR CR CR CR CR CR CR the pivotal trial 100 μg 2 Pap Ta CR* CR CR CR CR CR CR CR based on this 3 Pap T1 CR* CR CR CR CR CR CR CR Phase I data. 4 Pap T1 IC CR* CR CR CR CR CR CR 200 μg 5 CIS IC IC IC CR CR CR CR CR 6 Pap T1 CR* CR CR CR CR CR CR CR 7 Pap T1 CR* CR CR CR CR CR CR CR Standard of Care historical response rate 400 μg 8 CIS CR* CR CR CR CR CR CR CR** is 58-81% at 3-6 months 9 Pap Ta CR* CR CR CR CR CR CR CR post BCG alone CR – Complete Response Data as of Feb 2018 CR* -- No Recurrence (NR) in Papillary Disease CR** -- Negative Cystoscopy Inconclusive Cytology 9 of 9 (100%) Patients Disease-Free at 24 Months ImmunityBio – Transaction Overview Consolidated Pipeline ImmunityBio Closing NantKwest Combinations ImmunityBio, Inc. – Confidential, Not for Distribution 16


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Bladder Review of Unmet Need in Lung Cancer Lung Other Lung cancer is the second most common cancer in the United States Monoclonal antibodies targeting PD-1 and PD-L1: Nivolumab, pembrolizumab, durvalumab and atezolizumab are FDA- approved 234k 154k Annual New Annual Cases Deaths Current standard of care results in patient responses that may be short lived, ranging from late response to progression after achieving an initial response 80-85% 15-20% NSCLC SCLC Strong rationale to evaluate Anktiva + anti–PD-1 or anti–PD-L1 checkpoint inhibitor for patients with NSCLC who have relapsed after achieving an initial response to PD-1 or PD-L1 blockade therapy ImmunityBio – Transaction Overview Consolidated Pipeline ImmunityBio Closing NantKwest Combinations ImmunityBio, Inc. – Confidential, Not for DistributionBladder Review of Unmet Need in Lung Cancer Lung Other Lung cancer is the second most common cancer in the United States Monoclonal antibodies targeting PD-1 and PD-L1: Nivolumab, pembrolizumab, durvalumab and atezolizumab are FDA- approved 234k 154k Annual New Annual Cases Deaths Current standard of care results in patient responses that may be short lived, ranging from late response to progression after achieving an initial response 80-85% 15-20% NSCLC SCLC Strong rationale to evaluate Anktiva + anti–PD-1 or anti–PD-L1 checkpoint inhibitor for patients with NSCLC who have relapsed after achieving an initial response to PD-1 or PD-L1 blockade therapy ImmunityBio – Transaction Overview Consolidated Pipeline ImmunityBio Closing NantKwest Combinations ImmunityBio, Inc. – Confidential, Not for Distribution


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Next Steps • SEC clearance of registration statement / proxy Required • NantKwest shareholder vote (Q1 2021) Approvals • Transaction subject to customary closing conditions – until closing, NantKwest will continue to operate as a separate and independent company • Registration statement / proxy • January: Submit and publicly file proxy Timing Expectations • March: Shareholder vote • March: Close transaction ImmunityBio – Transaction Overview Consolidated Pipeline ImmunityBio Closing NantKwest Combinations ImmunityBio, Inc. – Confidential, Not for Distribution 29Next Steps • SEC clearance of registration statement / proxy Required • NantKwest shareholder vote (Q1 2021) Approvals • Transaction subject to customary closing conditions – until closing, NantKwest will continue to operate as a separate and independent company • Registration statement / proxy • January: Submit and publicly file proxy Timing Expectations • March: Shareholder vote • March: Close transaction ImmunityBio – Transaction Overview Consolidated Pipeline ImmunityBio Closing NantKwest Combinations ImmunityBio, Inc. – Confidential, Not for Distribution 29


Forward-Looking Statements • This presentation contains forward-looking statements relating to the proposed transaction involving NantKwest, Inc. (“NantKwest”) and ImmunityBio, Inc. (“ImmunityBio”), including financial estimates and statements as to the expected timing, completion and effects of the proposed transaction and statements relating to NantKwest and ImmunityBio’s future success in improving the treatment of various diseases and illnesses, including, but not limited to COVID-19 and cancer. Statements in this communication that are not statements of historical fact are considered forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended (the “Securities Act”), and Section 21E of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), which are usually identified by the use of words such as “anticipates,” “believes,” “continues”, “could”, “estimates,” “expects,” “intends,” “may,” “plans,” “potential”, “predicts”, “projects,” “seeks,” “should,” “will,” and variations of such words or similar expressions. These forward-looking statements are neither forecasts, promises nor guarantees, and are based on the current beliefs of NantKwest’s management and ImmunityBio’s management as well as assumptions made by and information currently available to NantKwest and ImmunityBio. Such statements reflect the current views of NantKwest and ImmunityBio with respect to future events and are subject to known and unknown risks, including business, regulatory, economic and competitive risks, uncertainties, contingencies and assumptions about NantKwest and ImmunityBio, including, without limitation, (i) inability to complete the proposed transaction because, among other reasons, conditions to the closing of the proposed transaction may not be satisfied or waived, (ii) uncertainty as to the timing of completion of the proposed transaction, (iii) potential adverse effects or changes to relationships with employees, suppliers or other parties resulting from the announcement or completion of the proposed transaction, (iv) possible disruptions from the proposed transaction that could harm NantKwest’s or ImmunityBio’s respective business, including current plans and operations, (v) unexpected costs, charges or expenses resulting from the proposed transaction, (vi) uncertainty of the expected financial performance of the combined company following completion of the proposed transaction, including the possibility that the expected synergies and value creation from the proposed transaction will not be realized or will not be realized within the expected time period, (vii) the ability of each of NantKwest or ImmunityBio to continue its planned preclinical and clinical development of its respective development programs, and the timing and success of any such continued preclinical and clinical development and planned regulatory submissions, (viii) inability to retain and hire key personnel, and (ix) the unknown future impact of the COVID- 19 pandemic delay on certain clinical trial milestones and/or NantKwest’s or ImmunityBio’s operations or operating expenses. More details about these and other risks that may impact our business are described under the heading “Risk Factors” in NantKwest’s most recent Quarterly Report on Form 10-Q and Annual Report on Form 10- K filed with the U.S. Securities and Exchange Commission (“SEC”) and in subsequent filings made by NantKwest with the SEC, which are available on the SEC’s website at www.sec.gov. NantKwest and ImmunityBio caution you not to place undue reliance on any forward-looking statements, which speak only as of the date hereof. NantKwest and ImmunityBio do not undertake any duty to update any forward-looking statement or other information in this communication, except to the extent required by law. No representation is made as to the safety or effectiveness of these product candidates for the therapeutic use for which such product candidates are being studied. • Certain information contained in this presentation relates to or is based on studies, publications, surveys and other data obtained from third-party sources and NantKwest’s and ImmunityBio’s own internal estimates and research. While NantKwest and ImmunityBio believe these third-party sources to be reliable as of the date of this communication, it has not independently verified, and makes no representation as to the adequacy, fairness, accuracy or completeness of, any information obtained from third-party sources. In addition, all of the market data included in this communication involves a number of assumptions and limitations, and there can be no guarantee as to the accuracy or reliability of such assumptions. Finally, while NantKwest and ImmunityBio each believes its own internal research is reliable, such research has not verified by any independent source. ImmunityBio, Inc. – Confidential, Not for DistributionForward-Looking Statements • This presentation contains forward-looking statements relating to the proposed transaction involving NantKwest, Inc. (“NantKwest”) and ImmunityBio, Inc. (“ImmunityBio”), including financial estimates and statements as to the expected timing, completion and effects of the proposed transaction and statements relating to NantKwest and ImmunityBio’s future success in improving the treatment of various diseases and illnesses, including, but not limited to COVID-19 and cancer. Statements in this communication that are not statements of historical fact are considered forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended (the “Securities Act”), and Section 21E of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), which are usually identified by the use of words such as “anticipates,” “believes,” “continues”, “could”, “estimates,” “expects,” “intends,” “may,” “plans,” “potential”, “predicts”, “projects,” “seeks,” “should,” “will,” and variations of such words or similar expressions. These forward-looking statements are neither forecasts, promises nor guarantees, and are based on the current beliefs of NantKwest’s management and ImmunityBio’s management as well as assumptions made by and information currently available to NantKwest and ImmunityBio. Such statements reflect the current views of NantKwest and ImmunityBio with respect to future events and are subject to known and unknown risks, including business, regulatory, economic and competitive risks, uncertainties, contingencies and assumptions about NantKwest and ImmunityBio, including, without limitation, (i) inability to complete the proposed transaction because, among other reasons, conditions to the closing of the proposed transaction may not be satisfied or waived, (ii) uncertainty as to the timing of completion of the proposed transaction, (iii) potential adverse effects or changes to relationships with employees, suppliers or other parties resulting from the announcement or completion of the proposed transaction, (iv) possible disruptions from the proposed transaction that could harm NantKwest’s or ImmunityBio’s respective business, including current plans and operations, (v) unexpected costs, charges or expenses resulting from the proposed transaction, (vi) uncertainty of the expected financial performance of the combined company following completion of the proposed transaction, including the possibility that the expected synergies and value creation from the proposed transaction will not be realized or will not be realized within the expected time period, (vii) the ability of each of NantKwest or ImmunityBio to continue its planned preclinical and clinical development of its respective development programs, and the timing and success of any such continued preclinical and clinical development and planned regulatory submissions, (viii) inability to retain and hire key personnel, and (ix) the unknown future impact of the COVID- 19 pandemic delay on certain clinical trial milestones and/or NantKwest’s or ImmunityBio’s operations or operating expenses. More details about these and other risks that may impact our business are described under the heading “Risk Factors” in NantKwest’s most recent Quarterly Report on Form 10-Q and Annual Report on Form 10- K filed with the U.S. Securities and Exchange Commission (“SEC”) and in subsequent filings made by NantKwest with the SEC, which are available on the SEC’s website at www.sec.gov. NantKwest and ImmunityBio caution you not to place undue reliance on any forward-looking statements, which speak only as of the date hereof. NantKwest and ImmunityBio do not undertake any duty to update any forward-looking statement or other information in this communication, except to the extent required by law. No representation is made as to the safety or effectiveness of these product candidates for the therapeutic use for which such product candidates are being studied. • Certain information contained in this presentation relates to or is based on studies, publications, surveys and other data obtained from third-party sources and NantKwest’s and ImmunityBio’s own internal estimates and research. While NantKwest and ImmunityBio believe these third-party sources to be reliable as of the date of this communication, it has not independently verified, and makes no representation as to the adequacy, fairness, accuracy or completeness of, any information obtained from third-party sources. In addition, all of the market data included in this communication involves a number of assumptions and limitations, and there can be no guarantee as to the accuracy or reliability of such assumptions. Finally, while NantKwest and ImmunityBio each believes its own internal research is reliable, such research has not verified by any independent source. ImmunityBio, Inc. – Confidential, Not for Distribution


Additional Information and Where to Find It • This presentation is not intended to and does not constitute an offer to sell or the solicitation of an offer to buy, sell or solicit any securities or any proxy, vote or approval in any jurisdiction pursuant to or in connection with the proposed transaction or otherwise, nor shall there be any sale of securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. No offer of securities shall be deemed to be made except by means of a prospectus meeting the requirements of Section 10 of the Securities Act of 1933. • In connection with the proposed transaction, NantKwest intends to file a registration statement on Form S-4 with the SEC, which will include a prospectus and joint solicitation statement of NantKwest and ImmunityBio (the “solicitation statement/prospectus”). NantKwest may also file other documents regarding the proposed transaction with the SEC. This communication does not constitute an offer to sell or the solicitation of an offer to buy any securities or a solicitation of any vote or approval. This communication is not intended to be, and is not, a substitute for such filings or for any other document that NantKwest may file with the SEC in connection with the proposed transaction. BEFORE MAKING ANY VOTING OR INVESTMENT DECISION, INVESTORS AND SECURITY HOLDERS ARE URGED TO CAREFULLY READ THE ENTIRE REGISTRATION STATEMENT AND SOLICITATION STATEMENT / PROSPECTUS, WHEN THEY BECOME AVAILABLE, AND ANY OTHER RELEVANT DOCUMENTS FILED WITH THE SEC, AS WELL AS ANY AMENDMENTS OR SUPPLEMENTS TO THESE DOCUMENTS, CAREFULLY AND IN THEIR ENTIRETY BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION ABOUT THE PROPOSED TRANSACTION. Investors and security holders will be able to obtain free copies of the registration statement and solicitation statement/prospectus and other documents filed with the SEC by NantKwest through the website maintained by the SEC at www.sec.gov. In addition, investors and security holders will be able to obtain free copies of the prospectus and other documents filed with the SEC on NantKwest’s website at www.ir.nantkwest.com. • NantKwest and certain of its respective directors and executive officers may be deemed to be participants in the solicitation of proxies from stockholders of NantKwest in connection with the proposed transaction under the rules of the SEC. Investors may obtain information regarding the names, affiliations and interests of directors and executive officers of NantKwest in NantKwest’s proxy statement for its 2020 annual meeting of stockholders, which was filed with the SEC on April 24, 2020, as well as its other filings with the SEC. Other information regarding the participants in the proxy solicitation and a description of their direct and indirect interests, by security holdings or otherwise, will be included in the registration statement, solicitation statement / prospectus and other relevant materials to be filed with the SEC by NantKwest regarding the proposed transaction (if and when they become available). You may obtain free copies of these documents at the SEC’s website at www.sec.gov. Copies of documents filed with the SEC will also be available free of charge from NantKwest using the sources indicated above. ImmunityBio, Inc. – Confidential, Not for DistributionAdditional Information and Where to Find It • This presentation is not intended to and does not constitute an offer to sell or the solicitation of an offer to buy, sell or solicit any securities or any proxy, vote or approval in any jurisdiction pursuant to or in connection with the proposed transaction or otherwise, nor shall there be any sale of securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. No offer of securities shall be deemed to be made except by means of a prospectus meeting the requirements of Section 10 of the Securities Act of 1933. • In connection with the proposed transaction, NantKwest intends to file a registration statement on Form S-4 with the SEC, which will include a prospectus and joint solicitation statement of NantKwest and ImmunityBio (the “solicitation statement/prospectus”). NantKwest may also file other documents regarding the proposed transaction with the SEC. This communication does not constitute an offer to sell or the solicitation of an offer to buy any securities or a solicitation of any vote or approval. This communication is not intended to be, and is not, a substitute for such filings or for any other document that NantKwest may file with the SEC in connection with the proposed transaction. BEFORE MAKING ANY VOTING OR INVESTMENT DECISION, INVESTORS AND SECURITY HOLDERS ARE URGED TO CAREFULLY READ THE ENTIRE REGISTRATION STATEMENT AND SOLICITATION STATEMENT / PROSPECTUS, WHEN THEY BECOME AVAILABLE, AND ANY OTHER RELEVANT DOCUMENTS FILED WITH THE SEC, AS WELL AS ANY AMENDMENTS OR SUPPLEMENTS TO THESE DOCUMENTS, CAREFULLY AND IN THEIR ENTIRETY BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION ABOUT THE PROPOSED TRANSACTION. Investors and security holders will be able to obtain free copies of the registration statement and solicitation statement/prospectus and other documents filed with the SEC by NantKwest through the website maintained by the SEC at www.sec.gov. In addition, investors and security holders will be able to obtain free copies of the prospectus and other documents filed with the SEC on NantKwest’s website at www.ir.nantkwest.com. • NantKwest and certain of its respective directors and executive officers may be deemed to be participants in the solicitation of proxies from stockholders of NantKwest in connection with the proposed transaction under the rules of the SEC. Investors may obtain information regarding the names, affiliations and interests of directors and executive officers of NantKwest in NantKwest’s proxy statement for its 2020 annual meeting of stockholders, which was filed with the SEC on April 24, 2020, as well as its other filings with the SEC. Other information regarding the participants in the proxy solicitation and a description of their direct and indirect interests, by security holdings or otherwise, will be included in the registration statement, solicitation statement / prospectus and other relevant materials to be filed with the SEC by NantKwest regarding the proposed transaction (if and when they become available). You may obtain free copies of these documents at the SEC’s website at www.sec.gov. Copies of documents filed with the SEC will also be available free of charge from NantKwest using the sources indicated above. ImmunityBio, Inc. – Confidential, Not for Distribution