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FROM CODE TO CURE

CorporateOverview

www.cgen.com

January 2019

Anat Cohen-Dayag, PhD

President & CEO

TM

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SAFE HARBOR STATEMENTThis presentation contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of

1995. Forward-looking statements can be identified by the use of terminology such as “will,” “may,” “expects,” “anticipates,” “believes,”

“potential,” “plan,” “goal,” “estimate,” “likely,” “should,” and “intends,” and describe opinions about possible future events. These forward-

looking statements involve known and unknown risks and uncertainties that may cause the actual results, performance or achievements of

Compugen to be materially different from any future results, performance or achievements expressed or implied by such forward-looking

statements. Among these risks: Compugen’s business model is substantially dependent on entering into collaboration agreements with third

parties, and Compugen may not be successful in generating adequate revenues, or commercializing aspects of its business model.

Compugen also may not meet expected milestones in its development pipeline. Moreover, the development and commercialization of

therapeutic candidates involve many inherent risks, including failure or delay to progress to clinical trials or, if they progress to or enter

clinical trials, failure to receive regulatory approval. These and other factors, including the ability to finance the Company, are more fully

discussed in the "Risk Factors" section of Compugen’s most recent Annual Report on Form 20-F as filed with the Securities and Exchange

Commission (“SEC”) as well as other documents that may be subsequently filed by Compugen from time to time with the SEC. In addition,

any forward-looking statements represent Compugen’s views only as of the date of this presentation and should not be relied upon as

representing its views as of any subsequent date. Compugen does not assume any obligation to update any forward-looking statements

unless required by law. Certain studies and data presented herein have been conducted for us by other entities as indicated where relevant.

All intellectual property, including trade marks, trade names, slogan, logos, service marks, patents, copyrights or trade secret displayed in

this presentation, including the name Compugen, whether registered or unregistered intellectual property rights of Compugen.

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Transforming patient lives by

developing first-in-class therapeutics

based on Compugen’s computational

target discovery platform

Our Vision

FROM CODE TO CURE TM

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%SIGNIFICANT UNMET NEED: 70-80% OF PATIENTS NON-RESPONSIVE TO APPROVED CANCER IMMUNOTHERAPIES

~20-30% Average Response Rate

PD-1 blockers approved indications

In clinical testing

COMPUGEN IS TARGETING NOVEL PATHWAYS TO ADDRESS NON-RESPONSIVE PATIENT POPULATIONS

Our value proposition and differentiated approach:

• New targets aimed towards non-responsive patient populations

• Mechanistic-driven first-in-classcombinations

• Robust biomarker strategy to select patients based on pathway expression profile

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KEY INVESTMENT HIGHLIGHTS

Innovative I/O

Portfolio

• First-in-class Phase 1 drug candidates

• COM701, BAY 1905254

• Novel immune checkpoints and immunomodulatory targets

Proven

Computational

Platform

• Established engine for novel drug programs

• Purpose-built algorithmic analyses

• Integrated I/O and drug development expertise

Strategic

Collaborations

• Corporate partners:

• R&D collaborations:Johns Hopkins, Mount Sinai

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COMPUGEN’S PIPELINEFrom Code to Cure™

* Collaboration is designed to address potential future combinations, including trials sponsored by Bristol-Myers Squibb to investigate combined inhibition of checkpoint mechanisms, such as PVRIG & TIGIT

IMMUNO-ONCOLOGY

COM701

anti-PVRIG antibody

DISEASE DRUG DISCOVERY PRECLINICAL DEVELOPMENT PHASE 1 PROGRAM

COM701 + Opdivo® *

anti-PVRIG antibody + anti-PD-1 antibody

BAY 1905254

anti-ILDR2 antibody

COM902

anti-TIGIT antibody

Bi-specific products

Multiple myeloid programs

AUTOIMMUNE

CGEN-15001

ILDR2-Fc

P1 initiation planned for 2019

PARTNER

U N D I S C L O S E D

Compugen-owned program Partnered programs

All comers; expansion

to Lung, Breast,

Ovarian, Endometrial

Lung, Breast, Ovarian,

Endometrial

Undisclosed

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INNOVATIVE IMMUNO-ONCOLGY PORTFOLIO

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• COM701: a high-affinity humanized IgG4 mAb targeting PVRIG

• PVRIG – novel immune checkpoint pathway discovered by Compugen’s computational

platform; part of the DNAM axis

• Clinical opportunities in tumor types with high unmet need, such as endometrial,

ovarian, breast, lung and other solid tumors

• PVRIG is broadly expressed in both PD-L1+ and PD-L1- tumors

• Rationale for combination strategy based on deep understanding of DNAM axis

• Dual and triple combination with TIGIT and PD-1 inhibitors

• Robust biomarker-driven strategy and rationale based on elevated expression of

axis members

• Strong IP position

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COM701: FIRST-IN-CLASS DRUG OPPORTUNITY IN NON-RESPONSIVE TUMOR TYPES

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COM701 ADDRESSES HIGH UNMET NEED IN MAJOR MARKET CANCER INITIAL INDICATIONS

FUTURE EXPANSION OPPORTUNITIES IN ADDITIONAL INDICATIONS & EARLIER LINES OF THERAPY

• Leading cause of cancer death

• Large opportunity in PD-1 R/R population (≥2L)

• Chemo ORR of ~10%

• No approved PD-1• Significant unmet

need in ≥3L• Chemo ORR of 8-15%

• No approved PD-1• Limited benefit seen

w/ PD-1 in HR+/Her2-• Modest benefit seen

w/ PD-1 mono in TNBC (~10% ORR)

• Significant unmet need in advanced patient populations

• No approved targeted therapies

• Significant unmet need in ≥2L MSS

• Chemo ORR of 10%

NSCLCOvarian

BreastEndometrial Total

Source: Decision Resources

298,000

70,000

43,000

160,000

Ad

van

ced

Can

cer

pat

ien

ts 25,000

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PVRIG IS A NOVEL CHECKPOINT IN THE TIGIT/DNAMAXIS: TWO PARALLEL INHIBITORY PATHWAYS

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Martinet & Smyth, 2015 (modified)

T CELL / NK Cell

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DNAM INTERSECTS WITH THE PD-1 PATHWAY AND IS REQUIRED FOR IN VIVO RESPONSE TO PD-1 INHIBITORS

Wang et al., Science Immunology, 2018

DNAM KO

anti-DNAM

PD-1 inhibition blocks DNAM (CD226) dephosphorylation and inactivation

DNAM KO or inhibition reverses anti-PD1 + anti-GITR tumor growth inhibition

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+Tumor/

APC

-

-

PVRIG

DNAM

TIGIT

PVRL2

PVR

-

PD-1 PD-L1

Tumor/

APC

T Cell

THE DNAM AXIS: POTENTIAL MOLECULAR INTERACTIONS OF PD-1 AND TIGIT/PVRIG PATHWAYS SUPPORT DRUG COMBINATION APPROACH

PVRIG PATHWAY: A SUGGESTED MECHANISM OF RESISTANCE IN PD-1 INHIBITOR NON-RESPONSIVE TUMORS

COM701

COM902

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COM701 PHASE 1 CLINICAL STUDY – INITIATED SEPT 2018ClinicalTrials.gov Identifier: NCT03667716

Phase 1bPhase 1a Study objectives

Safety & Tolerability

PK/PD

Clinical activity - COM701 monotherapy and in combination with Opdivo

Expression of DNAM axis members. Additional indications based on biomarker analysis.

Biomarker strategy

Breast

NSCLC

Ovarian

Endometrial

All comers (progressed on SOC)

Breast

NSCLC

Ovarian

Endometrial

Dual combination(Escalating doses of COM701 with fixed dose of Opdivo)

COM701 MonotherapyCohort Expansion(20 patients; progressed on SOC)

COM701 MonotherapyDose escalation(Hybrid accelerated titration design with 3+3 design)

All comers

Dual Combination (COM701 + Opdivo) Expansion(~20 patients/cohort)

Arm A

Arm B

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TARGET INDICATIONS EXPRESS HIGHER PVRL2 RELATIVE TO PVR SUGGESTING MONOTHERAPY POTENTIALMonotherapy and Combination Potential

PVRL2 PVRIGRNA (TCGA database)

NSCLC #1

NSCLC #2

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PVRL2 IS COMMONLY EXPRESSED IN PD-L1 NEGATIVE TUMORSOpportunity to Treat PD-1 Inhibitor Relapsed/Refractory Tumors

SITC, November 2017, Whelan, et al., poster presentation

LungAdenocarcinoma

EndometrioidCancer

PVRL2 PD-L1

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COM701 INCREASES T CELL ACTIVATIONSynergistic Effect in Combination With Other Checkpoint Inhibitors

COM701 +/- anti-TIGIT COM701 +/- anti-PD1 Triple combination

ASCO, June 2017, Ophir, et al., poster presentation

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PVRIG ABLATION/INHIBITION REDUCES TUMOR GROWTH IN MOUSE CANCER MODELS

Ganguly and Pardoll, Johns Hopkins Univ. MC38 model

PVRIG KO MICE (MC38) anti-PVRIG + anti-PD1 (CT26) anti-PVRIG + TIGIT KO (B16)

Control IgG

aPDL-1

aPDL-1+a-mPVRIG

WT

KO

WT + αPDL-1

KO + αPDL-1

Reduced tumor growth in KO mice Synergistic tumor growth inhibition with anti-PD1

PVRIG inhibition required for tumor growth inhibition in TIGIT KO mice

SITC, November 2016, Hunter, et al., oral presentation

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INITIATION OF COM902 PHASE 1 EXPECTED IN 2019

• Potential best-in-class TIGIT antibody• A high-affinity (femtomolar) mAb

• In vitro activity comparable to or better than the top clinical TIGIT antibodies

• Preclinical data demonstrates parallel PVRIG and TIGIT inhibitionenhances tumor growth inhibition

• Combination of COM902 & COM701 offers unique clinical differentiation in tumors that are non-responsive to approved checkpoint inhibitors

COM902 ANTI-TIGIT PROGRAM DESIGNED TO MAXIMIZE COM701 CLINICAL POTENTIAL

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MYELOID PROGRAMS – OUR NEXT WAVE OF I/O PROGRAMS

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Antibody MoA –

Cell Depletion

NK

Myeloid

Multiple programs at various stages of research and development

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CGEN-15001: FIRST-IN-CLASS THERAPEUTICS INDUCING IMMUNE TOLERANCE IN AUTOIMMUNE DISEASES

PRECLINICAL PROOF OF CONCEPT; INTENTION TO PARTNER

Fc fusion

CTLA4-lg(Orencia®)

Fc fusionCGEN-15001

BAY 1905254/anti-ILDR2 mAb

Compugen retained all rights to develop Fc fusions for autoimmune indications

counterpart

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STRATEGIC COLLABORATIONS

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CLINICAL COLLABORATION WITH BRISTOL-MYERS SQUIBBClinical Trial Collaboration and Equity Investment, signed October 2018

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• Bristol-Myers Squibb to supply Opdivo® for Compugen’s Phase 1 dual combination arm of COM701 and Opdivo®

• Framework for expansion to additional combination studies, such as PVRIG and TIGIT blockers

• Broad assessment of COM701 in patients non-responsive to immunotherapy

• Potential to accelerate clinical development timelines for COM701

• Bristol-Myers Squibb has right-of-first negotiation during exclusivity period

• Compugen retains ownership and commercial rights of COM701

• $12 million strategic equity investment, representing ~4% ownership in Compugen

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DEVELOPMENT & COMMERCIALIZATION AGREEMENT WITH BAYER Collaboration and License Agreement, signed August 2013

BAY 1905254 – first-in-class therapeutic antibody program targeting ILDR2

• ILDR2 – a novel immune checkpoint discovered by Compugen computationalplatform

• Phase 1 – first patient dosed September 2018

• Preclinical data for BAY 1905254 demonstrate unique mechanism of action with broad combination potential

$Over 30M*in upfront and milestone

payments to date

Over $250M in potential future milestone payments

Royalties on global net sales: mid-to-high single digit

* CGEN15001T and CGEN-15022

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LICENSE AGREEMENT WITH MEDIMMUNESigned March 2018

Development of bi-specific and multi-specific immuno-oncology antibody products

• Based on one pipeline program

• MedImmune has the right to create multiple products and is responsible for research, development and commercial activities

• Compugen retains full rights to all of its pipeline programs:

• As monotherapies and in combination with other products

• For the development of bi-specific and multi-specific programs, with the exception of the rights licensed to MedImmune

$10MUpfront payment

Up to $200MMilestone payments for first product

Milestone payments on each additional products

Tiered royalties on future products sales

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COMPUTATIONAL DISCOVERY PLATFORM & NEXT WAVE OF NEW I/O PROGRAMS

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Differential Correlation

Patient stratificationSingle Cell analysis

RNASeq(Cancer/Normal)

Proteomics

Genomic Structure

Clinical SamplesModel

TestRefine

APPLYING OUR PREDICTIVE APPROACH TO TARGET DISCOVERY

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Immune cells

Differential expression Survival analysis

Single cell microarray

Transcriptome and proteome

Novel target Identification

New therapy solutions C

linic

al h

ypo

the

sis

Expert integration ofmulti-omics data Analysis across multiple

proprietary platforms

Integrated expert review• Computational• Immuno-oncology• Drug development• Clinical

MORE THAN 80 PEER-REVIEWED PAPERS DEMONSTRATING COMPUTATIONAL DISCOVERY POWER

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atas

ets

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Differential Correlation

Patient stratificationSingle Cell analysis

RNASeq (Cancer/Normal)

Proteomics

Genomic Structure

Clinical SamplesModel

TestRefine

APPLYING OUR PREDICTIVE APPROACH TO DISCOVER NOVEL IMMUNE CHECKPOINTS

Immune cells

Differential expression Survival analysis

Single cell microarray

Transcriptomeand proteome

TIGITILDR2PVRIGOthers…

Clin

ical

hyp

oth

esi

s

Expert integration ofmulti-omics data Analysis across multiple

proprietary platforms

Purpose-built Platform: Algorithmic identification of ICP genes with conserved structures

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PROVEN PREDICTIVE DISCOVERY ENGINE IS POWERING NEXT WAVE OF NEW I/O PROGRAMS

• Dendritic cell activation & antigen presentation • TAM depletion/reprogramming

• PD-1 inhibitor resistance• T & NK cell activation

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FINANCIAL POSITION

Gross Cash Expenditures*

Market Capitalization

$34.9 million*

(September 30, 2018)

No Debt

~$150 million (December 2018)

NASDAQ (CGEN)

TASE (CGEN.TA)SME-150, TA-Biomed, TA Global

BlueTech, TA Tech-Elite

• Does not include cash receipts from any source

Cash Balance

~$9-10 million/quarter 2018 quarterly forecast

* Does not include $7.8M milestone payment from Bayer and $12M equity investment by BMS

A

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2018 ACCOMPLISHMENTS AND FUTURE VALUE DRIVERS

• COM701 IND filing and Phase 1 initiation

• BAY 1905254 IND filing, Phase 1 initiation and milestone payment from Bayer

• Bristol-Myers Squibb COM701 clinical collaboration and equity investment

• MedImmune bispecific license agreement

• Validation of the computational platform

• 2 programs from computer prediction of a novel drug target to clinical development

• 2 programs in preclinical development

• Multiple COM701 data readouts

• Monotherapy safety data

• COM701 + Opdivo® combination data

• Monotherapy & combination expansion cohorts

• COM902 IND filing and phase 1 initiation

• Partnered products

• Continued BAY 1905254 development

• MedImmune product development

• Advancement of next wave of I/O programs

2018 Accomplishments Future Value Drivers

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KEY INVESTMENT HIGHLIGHTS

Innovative I/O

Portfolio

• First-in-class Phase 1 drug candidates

• COM701, BAY 1905254

• Novel immune checkpoints and immunomodulatory targets

Proven

Computational

Platform

• Established engine for novel drug programs

• Purpose-built algorithmic analyses

• Integrated I/O and drug development expertise

Strategic

Collaborations

• Corporate partners:

• R&D collaborations:Johns Hopkins, Mount Sinai

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LEADERSHIP TEAM

BOARD OF DIRECTORSMANAGEMENT TEAM

Paul SekhriChairman of the Board

Anat Cohen-Dayag, PhD President & CEO, Director

Yair Aharonowitz, PhDDirector

Gilead HalevyDirector

Sanford (Sandy) ZweifachDirector

Kinneret Livnat Savitzky, PhDDirector

Anat Cohen-Dayag, PhD President and CEO

Ari KrashinChief Financial & Operating Officer

Kirk ChristoffersenSVP, Corporate & Business Development

John Hunter, PhDChief Scientific Officer

Zurit Levine, PhDSVP, Technology Innovation

Henry Adewoye, MD Chief Medical Officer

Arie Ovadia, PhDDirector

Jean-Pierre Bizzari, MDDirector

Dorit AmitayVP, Human Resources

Riki SchwartzVP, Research and Discovery

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BUSINESS ADVISORSSCIENTIFIC ADVISORY BOARD

Elliott Sigal, MD, PhDFormer CSO, EVP and Director

Richard HaiduckFormer CBO and CEO Life science companies

Charles Drake, MD, PhD

Howard Soule, PhD

Iain McInnes, MD, PhD

STRATEGIC ADVISORSIndustry Veterans, Renowned Oncologists and Immunologists

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Miriam Merad, MD, PhD

Multi-year strategic collaboration

Steven HoltzmanPresident and CEO, Decibel TherapeuticsFormer CBO and CEO

Antoni Ribas, MD, PhDDrew Pardoll, MD, PhDChairman of the SAB

Multi-year strategic collaboration

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FROM CODE TO CURE

Thank you

www.cgen.com

January 2019

Anat Cohen-Dayag, PhD

President & CEO

TM