Lineage Cell Therapeutics Entered Into Definitive Agreements With Certain Institutional Investors And With Broadwood Partners, L.P. For The Purchase And Sale Of Up To An Aggregate Of 39,473,688 Of Lineage's Common Shares And Accompanying Warrants To Purchase An Aggregate Of Up To 39,473,688 Of Lineage's Common Shares At A Combined Purchase Price Of $0.76 Per Common Share And Accompanying Common Warrant

$30 Million Upfront With Up to an Additional $36 Million of Aggregate Gross Proceeds Upon the Exercise in Full of Clinical Milestone-linked Common Warrants

Lineage Cell Therapeutics, Inc. (NYSE American and TASE: LCTX), a clinical-stage biotechnology company developing allogeneic cell therapies for unmet medical needs, today announced that it entered into definitive agreements with certain healthcare focused institutional investors and with Broadwood Partners, L.P. ("Broadwood"), an affiliate of Neal Bradsher, a member of Lineage's board of directors, for the purchase and sale of up to an aggregate of 39,473,688 of Lineage's common shares and accompanying warrants (the "common warrants") to purchase an aggregate of up to 39,473,688 of Lineage's common shares at a combined purchase price of $0.76 per common share and accompanying common warrant, in a registered direct offering. Each common warrant will be exercisable for one common share at an exercise price of $0.91 per common share and will be exercisable commencing six months following their date of issuance and will expire on the earlier of (a) the three-year anniversary of the initial exercise date, and (b) the 90th day following the date of the public disclosure of the intent to advance OpRegen (also known as RG6501) into a multi-center phase 2 or 3 clinical trial which includes a control or comparator arm, or if the date of such public disclosure occurs prior to the initial exercise date of the common warrants, the 90th day following the initial exercise date. However, the common warrants that may be issued to Broadwood will not be exercisable until the later of (i) their date of issuance, which will be the date shareholder approval is obtained, and (ii) the six-month anniversary of the date of issuance of the common warrants to the unaffiliated institutional investors in the offering.

H.C. Wainwright & Co. is serving as the exclusive placement agent for the offering.