On this page of StockholderLetter.com we present the latest annual shareholder letter from Allogene Therapeutics, Inc. — ticker symbol ALLO. Reading current and past ALLO letters to shareholders can bring important insights into the investment thesis.

Message from Our President and CEO Dear Fellow Stockholders, As we reflect on 2024, I m proud of the significant progress we made toward delivering on Allogene s mission to transform the future of cancer and autoimmune care through the ongoing development of our investigational allogeneic CAR T cell products. With a focused strategy, disciplined execution, and shared commitment across our team and Board, we achieved significant milestones across our clinical pipeline, strengthened our manufacturing capabilities, and enhanced our corporate governance - each an important component of longterm value. During 2024, we significantly advanced our lead clinical development programs. We launched the pivotal Phase 2 ALPHA3 trial, positioning cema-cel as a component of first-line consolidation therapy for LBCL. This trial represents the opportunity to redefine the standard of care by reaching patients earlier, when disease burden is low and outcomes are potentially more favorable. We also received clearance of our investigational new drug (IND) application from the U.S. FDA for the RESOLUTION trial of ALLO-329 in autoimmune diseases, and earned RMAT designation for ALLO-316 in renal cell carcinoma. These advances reflect our leadership in the allogeneic CAR T field and the dedication of our team, none of which would be possible without your continued support. We recognize that innovation alone is not enough. Building a sustainable company also means holding ourselves to high standards in governance, fiscal discipline, and stakeholder responsiveness. In 2024, we executed an active stockholder engagement program, including targeted outreach following our annual meeting. We appreciated the thoughtful feedback and, in response, implemented several enhancements to our executive compensation practices and disclosures. Our Board remains focused on aligning our governance structures with our evolving operational profile. Looking ahead, we expect 2025 to be a defining year. With enrollment underway in the ALPHA3 trial and set to begin in the RESOLUTION trial, we are entering a period with the potential to transform how CAR T therapies are used in patient care, while laying the foundation for registration paths in multiple programs. As we do so, we remain grounded in our commitment to scientific excellence, integrity, and the patients we ultimately serve. Thank you for your trust and support as we work to bring the next revolution in cell therapy to patients. Sincerely, David Chang, M.D., Ph.D. President & Chief Executive Officer Allogene Therapeutics, Inc. April 29, 2025
IN MEMORIAM David Bonderman (1942 2024) Director, Allogene Therapeutics, Inc. (2018 2024) The Board of Directors and executive leadership of Allogene Therapeutics, Inc. respectfully acknowledge the passing of David Bonderman, a founding member of our Board of Directors. Mr. Bonderman served with distinction from 2018 until his passing in 2024. Mr. Bonderman brought to Allogene a unique combination of strategic insight, business acumen, and a deep commitment to innovation. His decades of experience as a global investor and leader in the private equity industry provided invaluable guidance during Allogene s formative years and throughout its evolution as a clinical-stage biotechnology company. Mr. Bonderman was a strong advocate for the promise of allogeneic CAR T therapy, and his counsel played a significant role in advancing our mission to revolutionize cancer treatment. His dedication to the Company, sound judgment, and steady leadership made a lasting impact on Allogene and on all those who had the privilege of working with him. We are deeply grateful for Mr. Bonderman s service and extend our heartfelt condolences to his family, friends, and colleagues.
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ALLO Shareholder/Stockholder Letter Transcript:


Message from Our President and CEO
Dear Fellow Stockholders,
As we reflect on 2024, I   m proud of the significant progress we made toward delivering on
Allogene   s mission to transform the future of cancer and autoimmune care through the
ongoing development of our investigational allogeneic CAR T cell products. With a focused
strategy, disciplined execution, and shared commitment across our team and Board, we
achieved significant milestones across our clinical pipeline, strengthened our manufacturing
capabilities, and enhanced our corporate governance - each an important component of longterm value.
During 2024, we significantly advanced our lead clinical development programs. We launched
the pivotal Phase 2 ALPHA3 trial, positioning cema-cel as a component of first-line
consolidation therapy for LBCL. This trial represents the opportunity to redefine the standard of
care by reaching patients earlier, when disease burden is low and outcomes are potentially
more favorable. We also received clearance of our investigational new drug (IND) application
from the U.S. FDA for the RESOLUTION trial of ALLO-329 in autoimmune diseases, and
earned RMAT designation for ALLO-316 in renal cell carcinoma. These advances reflect our
leadership in the allogeneic CAR T field and the dedication of our team, none of which would
be possible without your continued support.
We recognize that innovation alone is not enough. Building a sustainable company also
means holding ourselves to high standards in governance, fiscal discipline, and stakeholder
responsiveness. In 2024, we executed an active stockholder engagement program, including
targeted outreach following our annual meeting. We appreciated the thoughtful feedback and,
in response, implemented several enhancements to our executive compensation practices
and disclosures. Our Board remains focused on aligning our governance structures with our
evolving operational profile.
Looking ahead, we expect 2025 to be a defining year. With enrollment underway in the
ALPHA3 trial and set to begin in the RESOLUTION trial, we are entering a period with the
potential to transform how CAR T therapies are used in patient care, while laying the
foundation for registration paths in multiple programs. As we do so, we remain grounded in our
commitment to scientific excellence, integrity, and the patients we ultimately serve.
Thank you for your trust and support as we work to bring the next revolution in cell therapy to
patients.
Sincerely,
David Chang, M.D., Ph.D.
President & Chief Executive Officer
Allogene Therapeutics, Inc.
April 29, 2025

IN MEMORIAM
David Bonderman (1942   2024)
Director, Allogene Therapeutics, Inc. (2018   2024)
The Board of Directors and executive leadership of Allogene Therapeutics, Inc. respectfully acknowledge the passing of
David Bonderman, a founding member of our Board of Directors. Mr. Bonderman served with distinction from 2018 until
his passing in 2024.
Mr. Bonderman brought to Allogene a unique combination of strategic insight, business acumen, and a deep commitment
to innovation. His decades of experience as a global investor and leader in the private equity industry provided invaluable
guidance during Allogene   s formative years and throughout its evolution as a clinical-stage biotechnology company.
Mr. Bonderman was a strong advocate for the promise of allogeneic CAR T therapy, and his counsel played a significant
role in advancing our mission to revolutionize cancer treatment. His dedication to the Company, sound judgment, and
steady leadership made a lasting impact on Allogene and on all those who had the privilege of working with him.
We are deeply grateful for Mr. Bonderman   s service and extend our heartfelt condolences to his family, friends, and
colleagues.



shareholder letter icon 4/29/2025 Letter Continued (Full PDF)
 

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