Material Agreement Form 8 K

As a result of an increase in remote employees, including in the local Bay Area, and continued efforts to identify cost reduction opportunities, Iovance Biotherapeutics, Inc. (the "Company") will relocate its offices within the same building of its current San Carlos, California headquarters. As such, on November 15, 2024, the Company entered into a sublease agreement (the "New Headquarters Lease") with Vaxcyte, Inc. for Suite 100 of 825 Industrial Road, San Carlos, California (the "Building"). Under the New Headquarters Lease, the Company will lease approximately 16,731 rentable square feet of space in the Building (the "Premises"). The New Headquarters Lease is for a term of 24 months, commencing upon delivery of the Premises (the "Commencement Date"), which shall be no later than thirty (30) days after the full execution of the New Headquarters Lease and receipt of the consent thereto of ARE - San Francisco No. 63, LLC, a Delaware limited liability company (the "Landlord"), both of which took place on November 15, 2024. The New Headquarters Lease includes two options to extend the term of the lease for 12 months each, exercisable under certain conditions and at a rate increased by 3% from the applicable monthly base rent as described in the New Headquarters Lease.

Beginning on the Commencement Date, the Company's monthly base rent under the New Headquarters Lease will be $99,549.53 for the first 12 months of the initial term and $102,535.93 for the second 12 months of the initial term, which represent a significant reduction compared to the original monthly base rent under the Prior Headquarters Lease (as defined below) of $279,540.80 and which such original monthly base rent was also subject to an annual increase of 3%. The Company will also be responsible for paying operating expenses.

The New Headquarters Lease contains customary events of default, representations, warranties, and covenants.

The foregoing description of the New Headquarters Lease does not purport to be complete and is qualified in its entirety by reference to the complete terms and conditions of the New Headquarters Lease to be filed as an exhibit to the Company's next periodic report filed with the U.S. Securities and Exchange Commission (the "SEC").