Exhibit 99.2

Barinthus Biotherapeutics Corporate Presentation Guiding the Immune System to Cure Disease November 2023

2 This presentation includes express and implied “forward - looking statements,” including forward - looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 . Forward looking statements include all statements that are not historical facts, and in some cases, can be identified by terms such as “may,” “will,” “could,” “should,” “expect,” “intend,” “plan,” “anticipate,” “believe,” “estimate,” “potential,” “ongoing,” or the negative of these terms, or other comparable terminology intended to identify statements about the future . Forward - looking statements contained in this presentation include, but are not limited to, statements regarding : our product development activities and clinical trials, including timing for readouts of any interim data for any of our programs, our regulatory filings and approvals, our estimated cash runway and cash burn, our ability to develop and advance our current and future product candidates and programs, our ability to establish and maintain collaborations or strategic relationships or obtain additional funding, the rate and degree of market acceptance and clinical utility of our product candidates, and the ability and willingness of our third - party collaborators to continue research and development activities relating to our product candidates . By their nature, these statements are subject to numerous risks and uncertainties, including factors beyond our control, that could cause actual results, performance or achievement to differ materially and adversely from those anticipated or implied in the statements . Such risks and uncertainties, include, without limitation, risks and uncertainties related to : preclinical and clinical studies, the success, cost and timing of our product development activities and planned and ongoing preclinical studies and clinical trials, whether results from preclinical studies and clinical trials will be predictive of the results of future trials, our ability to execute on our strategy, regulatory developments, our ability to fund our operations, global economic uncertainty, including disruptions in the banking industry, and the impact that the COVID - 19 pandemic may have on our clinical trials, preclinical studies and access to capital, and other risks, uncertainties and other factors identified in our filings with the Securities and Exchange Commission (the “SEC”), including our Annual Report on Form 10 - K for the year ended December 31 , 2022 , our Quarterly Report on Form 10 - Q for the most recently ended fiscal quarter and subsequent filings with the SEC . You should not rely upon forward - looking statements as predictions of future events . Although our management believes that the expectations reflected in our statements are reasonable, we cannot guarantee that the future results, performance or events and circumstances described in the forward - looking statements will be achieved or occur and actual results may vary . Recipients are cautioned not to place undue reliance on these forward - looking statements, which speak only as of the date such statements are made and should not be construed as statements of fact . Except as required by law, we do not assume any intent to update any forward - looking statements after the date on which the statement is made, whether as a result of new information, future events or circumstances or otherwise . Certain information contained in this presentation and statements made orally during this presentation relate to or are based on studies, publications, surveys and other data obtained from third - party sources and our own internal estimates and research . While we believe these third - party studies, publications, surveys and other data to be reliable as of the date of this presentation, it has not independently verified, and makes no representations as to the adequacy, fairness, accuracy or completeness of, any information obtained from third - party sources . In addition, no independent source has evaluated the reasonableness or accuracy of our internal estimates or research and no reliance should be made on any information or statements made in this presentation relating to or based on such internal estimates and research .

Company Overview • Formerly known as Vaccitech, a spinout company from the Jenner Institute for vaccine research at University of Oxford. • Backed by leading investment institutions with a validated platform from commercialization of one pipeline asset. • Headquartered in the UK with office and research facilities in the US. Our Mission To advance the next generation of immunotherapies that lead T cells to gain control over disease and improve patients’ lives. NASDAQ BRNS Staff 130 (UK: ~70%, US: ~30%) 1 Ordinary Shares Outstanding 38,546,594 2 Cash $160.3M 3 3 Guiding the immune system to cure disease 1 As of November 1, 2023 2 As of September 30, 2023 3 As of September 30, 2023

Compelling Fundamentals Driving Near and Long - term Growth 4 Large market opportunity across portfolio Diverse pipeline with anticipated near - term clinical milestones Proprietary platforms accumulating clinical data • Our proprietary platforms (ChAdOx, MVA, SNAP - CI) are designed to drive powerful immune responses . • We have generated clinical data across multiple indications (HBV, HPV, Prostate Cancer, COVID - 19). • 5 programs across infectious diseases, autoimmunity and cancer, with an additional 4 partnered programs . • 5 clinical stage programs with multiple expected near - term data readouts from 3 Phase 2 programs and 2 Phase 1 programs. • New SNAP - TI platform approaching entry into clinic, backed by strong supportive pre - clinical data. • High unmet need in autoimmune space, with no approved treatment for diseases such as Celiac disease. Expanding into autoimmunity with targeted immunotherapies

Proprietary Platforms and Approach 5 Working to Create More Effective Antigen - Specific Immunotherapies Through Innovative Technologies 1 Swadling et al (2014) Transl Med. 2 Ewer et al (2017) NEJM. 3 Moyo et al (2017) PloS One. 4 Voysey et al (2023 ) Clin. Exp. Immunol. ; Ewer et al (2016) NEJM ; Ogwang et al (2015) Sci Transl Med ; Ogwang et al (2013) PloS One ; Elias et al (2013) J Immunol ; O’Hara et al (2012) J Infect Dis ; Ewer et al (2016) Curr Opin Immunol. 5 Esposito et al (2020) Sci Transl Med . SFC: Spot Forming Colonies. PBMC: Peripheral blood mononuclear cells. Proprietary Viral Platforms Proprietary Synthetic Platform ChAdOx /MVA differentiators SNAP differentiators ChAdOx: Modified, replication - incompetent simian adenoviral vector MVA: Well - studied, replication - deficient, attenuated Vaccinia virus Ideally suited for chronic infections and cancer. Induced the highest published magnitude of disease - specific T cells 1 - 4 Elicit high magnitude, durable and polyfunctional CD8+ and CD4+ T cell responses. 1 - 4 • Two platform versions: SNAP - TI and SNAP - CI specifically designed for autoimmune and cancer indications , respectively. • M odular design utilizing self - assembly to co - deliver multiple antigens and immunomodulators . • C an be combined with ChAdOx and/or MVA in sequential combination regimens . • I deally suited for inducing specific T cell populations needed for diverse therapeutic indications, from oncology to immune tolerance. SNAP S elf - assembled platform co - delivering multiple antigens and immunomodulators 20 nm Antigen Immunomodulator + H 2 0 Self Assembly

6 Product Candidate Program Preclinical Phase 1 Phase 2 Phase 3 Marketed Barinthus Bio Rights Status/Anticipated Upcoming Milestones Infectious Disease Programs VTP - 300 Hepatitis B Virus (HBV) therapeutic Worldwide Phase 2 efficacy data updates (Q4 2023) VTP - 200 Human Papillomavirus (HPV) therapeutic Worldwide Phase 1b/2 final data (Q2 2024) Autoimmune Programs VTP - 1000 Celiac disease Worldwide Regulatory submission to initiate clinical trial (H2 2023) Cancer Programs VTP - 800/850 Prostate cancer therapeutic Worldwide Phase 1/2 futility data ( 2024) VTP - 1100 HPV Cancer Worldwide IND filing (2024) Near - term proof - of - concept readout Existing human clinical data Data supporting proof - of - concept announced ChAdOx + MVA SNAP “ MVA or ChAdOx Pipeline Harnessing the Power of Antigen - Specific Immunotherapies to Treat Infectious Diseases, Autoimmunity and Cancer These are estimated timelines only and our pipeline may be subject to change

VTP - 300 Hepatitis B Virus (HBV) Therapeutic

HBV: Global, Long - term Need for a Functional Cure 8 ~30 0 MILLION patients are chronically infected with HBV 1 1.5 MILLION new infections per year 1 Less than 10% get to Functional Cure with existing therapies 2 ~0.8 MILLION deaths per year from acute HBV infection, cancer & cirrhosis 1 ~25% of cases of chronic HBV infection progress to liver cancer 4 There is an urgent need to develop effective therapeutic strategies to cure chronic HBV infection 1 WHO, Hepatitis B , 2022 2 Boyd A, et al, Viruses. 2021 Jul 11;13(7):1341 3 Hsu YC, et al, Nat Rev Gastroenterol Hepatol. 2023 Aug;20(8):524 - 37 4 US CDC, Global Immunization, July 2022 5 Broquetas T and Carrion JA, Hepat Med. 2002 Jul;14:87 - 100 6 Van Zonneveld M, et al, Aliment Pharmacol Ther . 2005 May 1;21(9):1163 - 71 Existing therapies typically require chronic treatment NUCs are slow - acting with low cure efficacy 5 Pegylated Interferon has significant side effects 6 There is significant unmet medical need Large market opportunity for VTP - 300 ~300M Adults chronically infected with HBV 1 ~52M - only 15 - 20% diagnosed 7 7 Barinthus Bio, Data on file NUCs = Nucleos (t)ide analogs Projected increase in annual global deaths from HBV from 2015 - 30 with status quo 3 ~39%

VTP - 300 is an antigen - specific investigational immunotherapy that could be a critical component to enhancing rates of a functional cure. It is likely that a functional cure will require a combination of agents with complementary mechanisms of ac tio n. VTP - 300 Could be Critical Component to a Functional Cure Regimen for HBV 9 Inhibit viral replication Directly lower viral antigen Hepatitis B surface antigen burden (HBsAg) Stimulate host immune system response Approved Investigational Investigational NUCs Capsid & Entry Inhibitors ( Investigational ) RNAi Oligonucleotide Monoclonal antibodies ( mAbs ) Ag - specific immunotherapies PD - 1 Inhibitors Immunostimulants (TLR agonists) VTP - 300 is designed to engage the host immune system and has been shown to induce sustained HBsAg reduction. The objective of ongoing and planned clinical trials is to evaluate VTP - 300 in combination with other therapies as a component of a functional cure : NUCs + VTP - 300 + anti - PD - 1 NUCs + RNAi + VTP - 300 NUCs + VTP - 300 NUCs + RNAi + VTP - 300 + anti - PD - 1 Three potential components to a functional cure

10 HBV002 – VTP300 Ph 1b/2a; Trial Complete HBV DNA <40 copies HBsAg <4,000 IU/mL On NUCs for 1 year Inclusion Criteria Primary Endpoints VTP - 300 + Low - Dose Nivolumab (N=55) Secondary Endpoints • Safety: incidence of AEs and SAEs • % participants with reduction in HBsAg titre • % participants with HBsAg Loss • % participants with reduction of HBV DNA • Magnitude and avidity of HBV - specific CD4+ and magnitude of HBV - specific CD8+ T cells induced by each treatment regimen Objective: Evaluating safety, tolerability and T cell activity Group 1 (N= 10 ) Group 2 (N=18) Group 3 (N=18) Group 4 (N=9) MVA - HBV ChAdOx - HBV ChAdOx - HBV ChAdOx - HBV + LD Nivo * Day 1 Day 29 MVA - HBV MVA - HBV MVA - HBV + LD Nivo MVA - HBV + LD Nivo * Randomization N=55 Study reference: NCT04778904 *Nivolumab used with Day 1 and Day 29 doses in Group 4 CONFIDENTIAL

1 Full data was presented as a poster at EASL, Q2 2023. • VTP - 300 was administered with no treatment - related SAEs , and infrequent transient transaminitis. • Significant and durable reductions of HBsAg were seen in both VTP - 300 monotherapy (Group 2) and VTP - 300 + low - dose nivolumab group (Group 3) • Reductions in HBsAg were most prominent in those with lower baseline HBsAg . • Non - detectable HBsAg was observed in 2 of 5 Group 3 patients with baseline HBsAg <100 IU/mL at month 3 through month 9 . • Robust T cell response against all encoded antigens was observed following VTP - 300 administration. • VTP - 300 led to a decline in HBsAg in both genotype B and C patients 11 Maximum observed drop in HBsAg 0.3 logs or less 0.3 to <0.5 logs 0.5 to <1.0 logs 1.0 log or higher Dosing 1 HBV002 - VTP - 300 Showed Meaningful, Sustained HBsAg Reductions 1 1

HBV DNA ≤20 IU/mL HBsAg ≥100 to <5,000 IU/mL On NUCs for 1 year Inclusion Criteria Primary Endpoints Secondary Endpoints Safety: incidence of AEs and SAEs • Change in HBsAg concentration from baseline • Proportion of participants with a change in HBsAg from baseline meeting response criteria (≥0.5, 1, 2, or 3 log10 reduction) • Change in HBV DNA, RNA, core - related antigen, HBsAg antibody, HBsAg e - antibody from baseline AB - 729 (RNAi) + VTP - 300 +/ - Low - dose Nivolumab (N=60) Trial expanded in Q4 2022 to include an arm with low - dose Nivolumab 12 * Additional MVA - HBV/ Placebo to be dosed at Week 38, if patients have experienced a ≥0.5 log drop in HBsAg from Week 26 to Week 34. ** Additional MVA - HBV + Nivo to be dosed at Week 38, if patients have HBsAg ≥10 IU/mL at Week 34. LD: Low - dose AB - 729 (N=60) Week 1 Group A (N= 2 0 ) Group B (N=20) Week 24 Week 26 Week 48 ChAdOx - HBV Placebo Group C (N=20) ChAdOx - HBV Week 30 MVA - HBV + LD Nivo ** MVA - HBV* Placebo* Patients to discontinue NUCs if eligible Randomization Open Group • Alanine amino transferase (ALT) <2 î Upper limit of normal (ULN), and • HBV DNA <Lower limit of quantification (LLOQ), and • Hepatitis B e Antigen ( HBeAg ) negative, and • HBsAg <100 IU/mL, and/or • HBsAb positive Criteria: AB - 729 - 202 – Ph2a clinical collaboration with Arbutus; study design

AB - 729 - 202 Ph 2a – Interim Data 1 13 Meaningful and Sustained Declines Shown in HBsAg Levels with Imdusiran and VTP - 300 1 Based on interim data analysis presented as a poster by Arbutus Biopharma at AASLD, Q4 2023. Mean HBsAg Change from Baseline and Key Milestones Mean HBsAg Change from Baseline by Treatment Group Preliminary results: • Robust reductions of HBsAg were observed during the imdusiran treatment period, with 33/34 (97%) of subjects <100 IU/mL at the time of VTP - 300/placebo administration. • VTP - 300 treatment appeared to contribute to maintaining low HBsAg levels in the early post - treatment period . • All subjects who have reached Week 48 in Group A (N=5) have qualified to stop NUC therapy and remain off - treatment. *3 subjects have not yet reached VTP - 300 dosing period and are excluded from plot SE = standard error; N = subject number; Week 26 = ChAdOx1 - HBV/placebo dose; Week 34 = Eligibility assessed for 2ndMVA - HBV/placebo dose (>0.5 log 10 decline in HBsAg between Week 26 and 34).

AB - 729 - 202 Ph 2a – Interim Data 1 14 HBV - Specific T Cell Responses and Soluble Immune Biomarkers Increased after VTP - 300 dosing Preliminary results: • Elevations in HBV - specific T cell IFN - γ production were observed during imdusiran lead - in and after Week 26 dosing for N=7 subjects profiled thus far. • HBV - specific T cell IFN - γ production was enhanced in subjects receiving VTP - 300 (N=4) vs placebo (N=3). • HBV - specific T cell responses were observed against HBsAg, PreS1/S2 peptides in VTP - 300 treated subjects (N=4). • Transient increases in other plasma immune biomarkers were also observed during imdusiran lead - in and VTP - 300/placebo dosing period. • Subject 30 (Group A/VTP - 300) experienced HBsAg decline and enhanced IFN - γ production (via ELISpot) after VTP - 300 through Week 48 1 Based on interim data analysis presented as a poster by Arbutus Biopharma at AASLD, Q4 2023.

HBV003 – Ph 2b Study Enrolling Patients Inclusion Criteria HBV DNA ≤1,000 IU/mL HBsAg ≥10 to <4,000 IU/mL On NUCs for ≥6 months Primary Endpoint % participants with a greater than 1 log HBsAg reduction at 6 months after initiation of therapy Secondary Endpoints • Safety: incidence of AEs and SAEs • T cell response HBV003 is designed to obtain critical information on treatment dosing regimen • Group 1: Mirrors Group 3 in HBV002 to further support response effect observed • Group 2: Assesses if additional dose of MVA - HBV with LD nivolumab at Day 85 further reduces HBsAg • Group 3: Assesses if delaying LD nivolumab until after MVA - HBV is more optimal (plus adds option of 2nd MVA - HBV dose) VTP - 300 + Low - Dose Nivolumab (N=120) - Initiated in Q4 2022 Objective: Evaluating Additional Dosing and PD - 1 Inhibition Timing MVA - HBV + LD Nivo Day 1 Group 1 (N= 40) Group 2 (N=40) Group 3 (N=40) ChAdOx - HBV Day 29 Day 36 Day 85 ChAdOx - HBV ChAdOx - HBV MVA - HBV + LD Nivo MVA - HBV MVA - HBV + LD Nivo LD Nivo MVA - HBV Day 169 Patients to discontinue NUCs if eligible • ALT <2 î ULN, and • HBV DNA < LLOQ, and • HBeAg negative, and • HBsAg undetectable, and/or • HBsAg <100 IU/mL Criteria: 15 Study Reference: NCT05343481

VTP - 300 in Combination with Nivolumab Continues to Show Sustained HBsAg Reductions 16 HBV003 Ph 2b – Preliminary Data 1 HBsAg Screening >200 IU/mL** 1      1      1            6WXG\'D\                      0HDQ  6(  ORJFKDQJHIURP'D\  HBsAg Screening ≤200 IU/mL**             1      1      1            6WXG\'D\                      0HDQ  6(  ORJFKDQJHIURP'D\  Day 113: 4 weeks after last MVA dose Day 169: NUC discontinuation data • VTP - 300 in combination with nivolumab was observed to lead to HBsAg declines in all treatment groups , with reductions in HBsAg most prominent in patients with screening HBsAg levels ≤200 IU/mL *. • >0.5 and >1 log drops were observed in all groups at Day 113 in 23% and 9% of participants. • Participants with an HBsAg level of <200 IU/mL at Day 1 were more likely to have >1 log HBsAg reductions (31%) vs those with HBsAg levels > 200 IU/mL at Day 1 (2%). • Protocol being amended to include only participants with screening HBsAg ≤ 200 IU/ mL. *Participants with screening HBsAg <200 IU/mL account for ~30% of those currently on the study. **All Participants received ChAdOx - HBV on Day 1 1 Preliminary data presented as an oral presentation at AASLD, Q4 2023. • Group 1: Day 1 ChAdOx1 - HBV, Day 29 MVA - HBV+Nivo • Group 2: Day 1 ChAdOx1 - HBV, Day 29 & Day 85 MVA - HBV+Nivo • Group 3: Day 1 ChAdOx1 - HBV, Day 29 MVA - HBV, Day 36 Nivo , Day 85 MVA - HBV

17 All Participants by Screening HBsAg level <200 IU/mL vs >200 IU/mL • Preliminary data demonstrated that: • 54% participants with HBsAg at Screening ≤ 200 IU/mL had a >0.5 log decline from Day 1 * • 31% of participants with HBsAg at Screening ≤ 200 IU/mL had a >1 log decline from Day 1 * HBV003 Ph 2b – Preliminary Data 1 *Of subset of participants with data available at day 113. * * Discontinuation criteria: ALT <2 î ULN, and HBV DNA < LLOQ, and HBeAg negative, and HBsAg undetectable, and/or HBsAg <100 IU/ mL. NUC discontinuation** by Day 169 • Participants who discontinued NUCs closely followed up post - discontinuation o Bi - weekly for 8 weeks; monthly for 4 months; and quarterly for 6 months o Strict criteria for reinitiating NUCs • 7 (15%) of 47 participants who reached Day 169 were eligible for discontinuation* o 7 (78%) of 9 participants who reached Day 169 with screening HBsAg below 200 IU/mL were eligible o 3 participants have discontinued NUC therapy Safety Data • Preliminary safety data suggest VTP - 300 + nivolumab was generally well tolerated with no treatment related SAEs . • Transient ALT/AST elevations and thyroid function abnormalities observed in all groups 1 Preliminary data presented as an oral presentation at AASLD, Q4 2023.

VTP - 200 Human Papillomavirus (HPV) Therapeutic

Persistent HPV Infection Remains a Significant Public Health Problem 1 19 We are targeting persistent HPV – which can lead to precancerous lesions and cervical cancer 1 HPV is the most common sexually transmitted viral infection in the world 1 Cervical cancer was the 4 th most common cancer in women globally in 2020 2 . >95% of cervical cancer is caused by HPV 2 Approximately 291 million women worldwide are infected with HPV 4 • While HPV prophylactic vaccines are effective at preventing infection, these vaccines do not eliminate existing infections . 1 • L ow vaccination rates in many regions of the world. 1 • >3.6M diagnosed persistent high - risk cervical HPV in US and across 5EU annually collectively. 6 • Standard of care is monitoring and excision once high - grade lesions develop. 1 • Currently no treatment before high - grade lesions develop. 1 • People with HPV infections report cancer - related fear , worry over lack of treatment and HPV being a ‘ticking time bomb’ . 5 There is a high unmet need for patients with persistent HPV infection Cervical cancer in the US 3 : ~4,000 deaths per year even with screening & treatment ~12,000 cases per year ~342,000 deaths per year ~ 604 ,000 cases per year Cervical cancer worldwide 2 : 1 WHO, HPV vaccines: WHO position paper, 2022 2 WHO, Cervical Cancer 3 Center for Disease Control 4 Lancet Infect Dis. 2007 Jul;7(7):453 - 9. 10.1016/S1473 - 3099(07)70158 - 5 5 Psychooncology . 2021 Jan; 30(1 ): 84 – 92. doi : 10.1002/pon.5540 6 Barinthus Bio, Data on File

APOLLO (HPV001) – Ph 1b/2 Study Design 20 Inclusion Criteria High risk HPV positive for >6 months and low - grade cervical lesions. Study outputs Efficacy Data: % clearance of high - risk HPV and cervical lesions evaluated at 12 months. Interim data analysis: Interim data showed VTP - 200 was generally well tolerated with no product - related serious adverse events (SAEs) and had encouraging initial T cell activity results. The trial will continue as planned to the 12 - month primary endpoint. Final data analysis: Expected Q2 2024. Lead - in Phase: (N=9) Objective: Evaluating immunogenicity, safety data Group A (N=3) ChAdOx - HPV 2 x 10 8 vp MVA - HPV 1 x 10 7 pfu Group B (N=3) ChAdOx - HPV 2 x 10 9 vp MVA - HPV 1 x 1 0 7 pfu Group C (N=3) ChAdOx - HPV 2 x 10 10 vp MVA - HPV 1 x 10 8 pfu Regions EU UK Main Phase 1 : VTP - 200 (N=99) – Fully Enrolled Objective: Evaluating safety data, efficacy data, immunogenicity, dose - response 1, N=16 2, N=16 3, N=8 4, N=8 5, N=16 6, N=32 ChAdOx - HPV 2 x 10 9 vp MVA - HPV 1 x 10 7 pfu Day 1 ChAdOx - HPV 2 x 10 10 vp ChAdOx - HPV 2 x 10 8 vp ChAdOx - HPV 2 x 10 9 vp ChAdOx - HPV 2 x 10 10 vp Placebo MVA - HPV 1 x 10 7 pfu MVA - HPV 1 x 10 8 pfu MVA - HPV 1 x 10 8 pfu MVA - HPV 1 x 10 8 pfu Placebo Day 29 Group 60 of the Main phase participants will also take part in an immunogenicity sub - study 1 All groups open simultaneously Study Reference: NCT04607850 Primary Endpoint • Safety: incidence of AEs and SAEs Secondary Endpoints • Efficacy • Dose determination for further studies

21 VTP - 200 Demonstrated Favorable Tolerability and T Cell Profile at Interim Analysis Placebo Arm Active Arms (Pooled) 1 Data from 58 patients who had reached at l east the 6 - month time point, immunogenicity results available from a subset of participants who entered the immunogenicity sub - s tudy (N=45). Interim data presented at the International Papillomavirus Conference. Full data expected to be reported in Q2 2024. • VTP - 200 was generally well - tolerated. N o product - related grade 3 unsolicited adverse events, and no product - related SAEs. • Pooled active groups analysis showed: • Robust IFN γ responses, with average of >1,000 spot - forming units/10 6 . • Strongest T cell responses were observed against the E1, E2 and E6 antigens. • Induction of both CD4 and CD8 T cell responses. • Interim data were presented at IPVC in April 2023. APOLLO (HPV001): Phase 1b/2 Interim Data 1

Autoimmune Program

23 SNAP - TI (Tolerance Immunotherapy) Platform Inducing antigen - specific tolerance to address autoimmune diseases SNAP - TI Given IM Treated Established EAE Disease in Mice 2 Opportunity: Autoimmune diseases are currently treated with therapies that induce broad immunosuppression resulting in side effects and are not curative. It is estimated that 1 in 100 people worldwide suffer from celiac disease . 1 Our Solution : SNAP - TI, designed to induce Tregs and reduce the effector T cell response , both specific to the same antigens, without broad immunosuppression. Immunomodulator and antigens co - delivered by IM injection in self - assembled SNAP - TI designed to achieve a favorable antigen - specific Treg to Teffector ratio. VTP - 1000: Tolerance induction in Celiac Q4 2023: IND - Enabling studies expected to be completed with regulatory submission planned in Australia before the end of 2023 1 Singh. P, et al, Clinical Gastroenterology and Hepatology 2018. 2 Unpublished preclinical data, Barinthus Bio, Data on File. 0 20 40 0 1 2 3 4 Days after disease induction D i s e a s e s c o r e Treatment days 0.0 0.6 1.2 1.8 2.4 T r e g / T e f f r a t i o SNAP - TI Increases Treg to Teff Ratio in Mice to Impact Disease 2 [1] Vehicle [6] SNAPvax TV MOG; Rapamycin; 40 nmol Vehicle control SNAP - TI (MOG + mTORi)

Cancer Program

VTP - 850 for Prostate Cancer Prostate cancer is the 4th most common cancer diagnosis in the world 1 Prostate cancer worldwide 3 : 1 in 8 men will be diagnosed with prostate cancer in their lifetime .2 Novel immunotherapy candidate to prevent advanced disease 20 - 40% of patients with non - metastatic prostate cancer experience biochemical recurrence after local therapy (e.g., prostatectomy). ~1,400,000 new cases diagnosed deaths per year ~ 375 ,000 • Biochemical recurrence is indicated by rising PSA levels with no evidence of disease on conventional imaging, meaning the disease was not cured by local therapy. 4 • Treatment options for patients with biochemical recurrence include systemic therapies such as hormonal or chemotherapy, resulting in toxicity and side effects. VTP - 850 - a next generation ChAdOx - MVA multi - antigen product candidate designed to induce cytotoxic T cells and prevent advancement to metastatic disease. Barinthus Bio’s solution 1 WHO, 2022. 2 American Cancer Society, 2023 PSA: Prostate Specific Antigen . * Study Reference: NCT05617040 3 World Cancer Research Fund International. 2020. 4 Simon Ni, et al. Am Soc Clin Oncol Educ Book. 2022. 25

VTP - 800 First - Generation Single - Antigen Immunotherapy Showed Meaningful Reduction in PSA Phase 2 ADVANCE: VTP - 800 + Anti - PD - 1 in mCRPC 1 Antonarakis , E. et al. Journal of Clinical Oncology 2020 2 Data courtesy of Prostate Cancer Vaccine Group, Jenner Institute, UO. mCRPC : Metastatic Castrate Resistant Prostate Cancer VTP - 800 antigen: 5T4 Target patient population: 23 mCRPC patients enrolled Efficacy data readouts: • >50% reduction in PSA compared to baseline was seen in 22% of patients (5/23) • Historical comparator with a PSA response to anti - PD - 1 alone is ~9% 1 • 3 patients with PSA response also had measurable tumors and saw clinical responses S tudy in metastatic castration - resistant prostate cancer ( mCRPC ) patients using ChAdOx - MVA plus nivolumab 100 5 0 50 - 50 - 100 PSA change from baseline (%) Phase 2 ADVANCE: Serum PSA Results 2 26

PCA001 – Ph 1/2 Study Design Ongoing Phase 1/2 study for Multi - Antigen VTP - 850, a Next - Generation Candidate Hormone sensitive prostate cancer. Biochemical recurrence after definitive local therapy. No metastases by standard radiography. Inclusion Criteria Primary Endpoints Primary Endpoints Safety: incidence of AEs and SAEs. * Including 6 participants from Phase 1. ** If 4 or more of the 25 participants at the RP2R (including the Phase 1 participan ts who received the same dose regimen) have a PSA response, Stage 2 will be opened to enrolment of up to 100 additional participants. + Dosing dependent on outcome of Phase 1. Study Reference: NCT05617040 • PSA response, durability of PSA response, duration of PSA response, metastasis - free survival, time to metastasis, time to start of androgen deprivation therapy. Cohort 1 Low dose (N=3 - 6) IM/IM Cohort 2 Full dose (N=6) IM/IM Cohort 3 Full dose (N=6) IM/ IV VTP - 850 antigens: • 5T4 • PSA • PAP • STEAP Phase 1: Lead - in Phase VTP - 850 (N=15 - 18) Objective: Dose finding for Phase 2, evaluation of safety and immunogenicity. Phase 2: Main Phase VTP - 850 (N=125) Objective: Futility analysis, POC, durability of response rate. Stage 1 objective: Futility analysis based on PSA response. (N=25*) Dosing : IM + IM/ IV + Stage 2** objective: Establish proof of concept based on overall PSA response and duration of response. (N=100) Dosing: IM + IM/ IV+ 27

Partnered Programs 28

Barinthus Bio’s Partnered Pipeline 29 Program: COVID - 19 Coronavirus MERS Zoster NSCLC Partner AstraZeneca University of Oxford, CEPI CanSinoBIO Ludwig Cancer Research, CRUK Existing human clinical data ChAdOx “ MVA Prophylactic Programs VTP - 900 COVID - 19 Coronavirus* Licensed by OUI to AZ Fully approved in EMA/UK VTP - 500 MERS* Worldwide Initiation of Phase 2 VTP - 400 Zoster* Worldwide (excl. China) Initiation of Phase 1 Cancer Programs VTP - 600 NSCLC therapeutic in combo. with checkpoint inhibitor + chemo Worldwide (76% of Sub.) Phase 1/2a ongoing Product Candidate Program Preclinical Phase 1 Phase 2 Phase 3 Marketed Barinthus Bio Rights Status/Anticipated Upcoming Milestones * ChAdOx only

Company Highlights 30

Financial Overview & Catalysts Guiding the immune system to cure disease 31 Q4 2023 H1 2024 VTP - 1000 (Celiac) : Regulatory submission to initiate clinical trial 1 VTP - 200 (HPV) : Phase 1b /2 HPV001 final safety, efficacy and immunogenicity data 1 VTP - 1000 (Celiac) : Phase 1 GLU001 FPFV 1 VTP - 300 (HBV) : Phase 2b HBV003 interim analysis data 1 Expected near - term catalysts • $160.3 million as of September 30, 2023 • No debt or outstanding warrants • Estimated cash runway into the second quarter of 2025 Current cash position 1 Based on managements current estimates on expected clinical data milestones

Investment Highlights 32 Multiple anticipated near - term data readouts and clinical trial initiations from 3 Phase 2 programs and 2 Phase 1 programs. Established partnerships in 4 programs with leading institutions and biotech companies. Pipeline of 5 programs in infectious diseases, autoimmunity and cancer. Proprietary platforms ( ChAdOx , MVA, SNAP) designed to drive powerful immune responses in therapeutic and prophylactic settings. Clinical data in HBV, HPV, Prostate Cancer and the Oxford - AstraZeneca COVID - 19 vaccine. Expanding into autoimmunity with targeted immunotherapies in high unmet need areas with no current treatment, such as Celiac disease.

THANK YOU Guiding the Immune System to Cure Disease