[ NASDAQ: MEIP ] Bank of America Merrill Lynch Health Care Conference May 12-14, 2015

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1 [ NASDAQ: MEIP ] Bank of America Merrill Lynch Health Care Conference May 12-14, 2015

2 Forward-Looking Statements These slides and the accompanying oral presentation contain forward-looking statements. Actual events or results may differ materially from those projected in any of such statements. Additional information concerning factors that may cause actual events or results to differ from those projected is contained in MEI Pharma s most recent annual report on Form 10-K and quarterly reports on Form 10-Q, as well as other subsequent filings with the SEC. 2

3 MEI Pharma (Nasdaq: MEIP) San Diego-based oncology drug development company with three wholly owned drug candidates Pracinostat: Oral HDAC inhibitor with evidence of clinical activity o Full data from Phase II study in elderly AML at EHA in June 2015 ME-344: Novel mitochondrial inhibitor with single-agent activity o Data from Phase Ib study expected in Q PWT143: PI3K delta inhibitor with compelling pre-clinical activity o First-in-human study expected to initiate in mid-2015 Strong intellectual property protection extending past 2028 in US Cash sufficient to fund operations to 2017 Management team with proven drug development experience 3

4 Management Team EXECUTIVE MANAGEMENT Daniel Gold, PhD President & Chief Executive Officer Former Chief Scientific Officer & Founder, Favrille Robert Mass, MD Chief Medical Officer Former Head of Medical Affairs, BioOncology, Genentech Thomas Zech Chief Financial Officer Former Chief Financial Officer, Pacira Pharmaceuticals David Urso, JD SVP, Corporate Development & General Counsel Former Principal, Forward Ventures / COO, Tioga Pharmaceuticals Karen Potts, PhD SVP, Regulatory Affairs Former SVP of Regulatory Affairs, Trius Therapeutics BOARD OF DIRECTORS Christine White, MD (Lead Director) Former Head of Global Medical Affairs, Biogen Idec Charles Baltic, JD Co-Head of Healthcare, Needham & Co. Leah Cann, MBA Two-time Wall Street Journal All-Star Analyst Kevan Clemens, PhD Former Head of Global Oncology, Roche Nick Glover, PhD Former President & CEO, YM BioSciences Daniel Gold, PhD President & CEO, MEI Pharma Thomas Reynolds, MD, PhD Former Chief Medical Officer, Seattle Genetics William Rueckert Former Chairman, Novogen Limited 4

5 SIGNALING PROGRAM CANCER METABOLISM PROGRAM EPIGENETICS PROGRAM Clinical Development Pipeline DRUG CANDIDATE INDICATION / COMBINATION PRE-CLINICAL PHASE I PHASE II PHASE III Acute Myeloid Leukemia Front Line, Elderly Azacitidine (Vidaza ) Pracinostat HDAC Inhibitor ME-344 Mitochondrial Inhibitor Myelodysplastic Syndrome Front Line, Int-2 & High-Risk Azacitidine (Vidaza ) Myelodysplastic Syndrome Refractory to HMA Azacitidine (Vidaza ) or Decitabine (Dacogen ) Myelofibrosis Front Line & Relapsed/Refractory Ruxolitinib (Jakafi ) Small Cell Lung Cancer Advanced or Metastatic Topotecan (Hycamtin ) Ovarian Cancer Advanced or Metastatic Topotecan (Hycamtin ) PWT143 PI3K Delta Inhibitor Hematologic Cancers 5

6 Pracinostat: Demonstrated Evidence of Clinical Activity in Hematologic Diseases Single-agent activity in elderly acute myeloid leukemia (AML) 14% (2/14) CR rate in Phase I dose-escalation study 1 Moderate single-agent activity in myelofibrosis 36% (8/22) clinical improvement rate in Phase II study 2 Encouraging activity w/ azacitidine in myelodysplastic syndrome (MDS) 89% (8/9) ORR rate in pilot study 3 Significant activity w/ azacitidine in front-line elderly AML 45% (15/33) CR/CRi/MLFS rate in Phase II study Garcia Manero et al ASH Annual Meeting, Abstract Quintás-Cardama et al. Leukemia Research, 2012 Sep;36(9): Quintás-Cardama et al ASH Annual Meeting, Abstract Garcia-Manero et al ASH Annual Meeting, Abstract 947

7 Phase II Study in Front Line MDS (MEI-003) Intermediate Risk-2 or High Risk MDS Patients Previously Untreated w/ HMA Pracinostat + Azacitidine Placebo + Azacitidine 102 evaluable patients at 19 sites in the U.S. One-to-one randomization, double-blind Primary endpoint: CR Secondary endpoints: overall response rate, hematologic improvement, clinical benefit rate, duration of response, progression-free survival, rate of leukemic transformation, overall survival, safety & tolerability 7

8 Phase II Study in Front Line MDS: Top-Line Data No difference in CR rate compared to azacitidine alone Data from event-driven endpoints (duration of response, event & progression free survival and overall survival) still immature Longer follow-up required to achieve meaningful conclusions Fatigue, gastrointestinal toxicities & myelosuppresion occurred more frequently in combination group Resulted in higher rate of drug discontinuations compared to azacitidine alone o Discontinuation difference most evident during first 2 cycles 8

9 Phase II Study in Front Line MDS (MEI-003) Cycle 1 & 2 Discontinuations Due to Tolerability* Placebo + Azacitidine (n=51) Pracinostat + Azacitidine (n=51) Cycle Cycle Total 4 (8%) 13 (25%) 9 * Includes adverse events, patient decisions/informed consent withdrawals and other

10 Phase II Study in Front Line AML (MEI-004) Elderly (Age 65 years) Patients with Newly Diagnosed AML Pracinostat + Azacitidine 50 patients enrolled between December December 2014 at 15 sites in the U.S. Primary endpoint: CR + CRi + MLFS* Secondary endpoints: overall response rate, complete cytogenetic response, duration of response, event-free survival, overall survival, safety & tolerability Response assessments end of cycle 1 or 2, then every other cycle until CR is achieved or as clinically indicated 10 * Morphologic leukemia-free state (i.e., marrow CR)

11 1 st Line Elderly AML Patients (N=33) Phase II Study in Front Line AML: Interim Data Duration on Study & Response ASH 2014 Response Based on Clinical Review of Efficacy Data Days on Study CR CRi MLFS PR/PRi Stable Disease Progressive Disease Clinical Benefit AE/Withdrew No Clinical Benefit AE/Withdrew Time to 1 st BM Assessment for Responders Remains on treatment

12 1 st Line Elderly AML Patients (N=33) Phase II Study in Front Line AML: Interim Data Duration on Study & Response March 2015* Response Based on Clinical Review of Efficacy Data * CR CRi * * * * MLFS PR/PRi Stable Disease Progressive Disease Clinical Benefit AE/Withdrew No Clinical Benefit AE/Withdrew Time to 1 st BM Assessment for Responders Remains on treatment Months on Study * Patients with improved response since presentation at ASH 2014

13 Phase II Study in Front Line AML: Interim Data Significant clinical activity in elderly patients w/ newly diagnosed AML 52% (17/33) achieved primary endpoint as of March 2015 CR = 33% (11/33) Majority of bone marrow responses occur within first two cycles Observed response rate continues to increase with longer follow-up 60-day mortality rate = 9% (3/33) Do data support development of Pracinostat + azacitidine in AML? 13

14 Phase II Study in Front Line AML vs. MDS Cycle 1 & 2 Discontinuations Due to Tolerability* MDS (MEI-003) Pracinostat + Azacitidine (n=51) AML (MEI-004) Pracinostat + Azacitidine (n=50) Cycle Cycle Total 13 (25%) 7 (14%) 14 * Includes adverse events, patient decisions/informed consent withdrawals and other

15 ME-344: Lead Mitochondrial Inhibitor Evidence of single agent activity in Phase I dose-escalation study in refractory solid tumors 1 Generally well tolerated at 10 mg/kg weekly o Dose limiting toxicity of Grade 3 neuropathy at 15 & 20 mg/kg Phase 1b combination study with topotecan in relapsed refractory ovarian & small cell lung cancers ongoing Ovarian cancer data expected in Q Novel mechanism of action directly targeting mitochondrial OXPHOS complex I 2, resulting in rapid loss of cellular energy (ATP) New pre-clinical data shows significantly enhanced anti-tumor activity when combined with a tyrosine-kinase inhibitor (TKI) 15 1 Cancer 2015 Apr 1;121(7): Am J Cancer Res 2015;5(2):

16 ME-344: First-in-Human Clinical Study Duration of Prior Therapy Compared to ME-344* Small Cell Lung Cancer Carcinoid of the Ileum Urothelial Cervical Cervical Leiomyosarcoma Non-Small Cell Lung Ovarian Non-Small Cell Lung Weeks 104 Duration of Last Prior Therapy Duration of ME * Patients achieving partial remission or stable disease

17 ME-344: Sensitive vs. Naturally Resistant Cells Sensitive Human Lung Cancer Cells: IC 50 > 100nM Resistant Human Lung Cancer Cells: IC 50 < 50uM 18

18 Effect of ME-344 on Mitochondria Stress Tests Lung Cancer Cells 19

19 Tumor Growth Inhibition Following Single Agent or Combination Therapy 1200 Tumor Growth Weeks Vehicle ME-344 BIBF ME TKI BIBF+ME TKI + ME

20 Impact of ME-344 on Disease Progression Following Treatment with TKI* Tumor Growth BIBF TKI - BIBF TKI Weeks BIBF TKI - BIBF+ME TKI + ME * When tumors reached 100mm 3, mice were treated with TKI for 10 weeks; mice were then randomized to receive continued TKI or TKI + ME-344

21 PWT143: Highly Selective PI3K Delta Inhibitor Acquired from Pathway Therapeutics in September 2013 Expands drug development pipeline Clinically validated target in hematologic diseases Potential synergies with Pracinostat Distinct chemical structure & evidence of improved pre-clinical activity compared to other PI3K delta inhibitors in development IND-enabling 2-species tox studies & scale manufacturing methods completed First-in-human study expected to initiate in June

22 Intellectual Property Pracinostat 3 issued US & 77 issued foreign patents 2 US & 8 foreign applications pending Composition of matter to May 2028 in US, Aug 2026 in EP May 2033 with up to 5 years patent term restoration in US Aug 2031 with up to 5 years Supplementary Protection Certificate in EP ME issued US & 18 issued foreign patents 3 US & 7 foreign applications pending Composition of matter to Sep 2025 in US & EP Sep 2029 with up to 4 years of patent term restoration in US Sep 2030 with up to 5 years Supplementary Protection Certificate in EP PWT143 1 issued US patent 3 US & 29 foreign applications pending Composition of matter to Jan 2031 in US, pending in EP 23

23 Financial Highlights Cash: $70.5 million (as of March 31, 2015) Sufficient to fund operations to 2017 Debt: None Shares outstanding: 33.3 million 24

24 2015 Clinical Milestones Pracinostat Full data from Phase II study in front line elderly AML (June) ME-344 Data from ovarian cancer cohort in Phase Ib study (Q4) PWT143 Initiation of first-in-human study (mid-2015) 25

25 [ NASDAQ: MEIP ] Bank of America Merrill Lynch Health Care Conference May 12-14, 2015

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