Tengion 8K Regulation FD Disclosure | TNGNQ 9 Jan 12

January 2012

Certain statements in this presentation may constitute forward-looking statements within the
meaning of the Private Securities Litigation Reform Act of 1995. Although Tengion believes that
these statements are based upon reasonable assumptions within the bounds of its knowledge
of its business and operations, there are a number of factors that may cause actual results to
differ from these statements.

For instance there can be no assurance that: (i) the Company will be able to successfully enroll
patients in its clinical trials, including its initial clinical trial for the Neo-Urinary Conduit; (ii)
patients enrolled in the Company's Neo-Urinary Conduit clinical trial will not experience
additional adverse events, which could delay clinical trials or cause the Company to terminate
the development of the Neo-Urinary Conduit; (iii) the Company's Neo-Urinary Conduit clinical
trial will not be placed on clinical hold by the Food and Drug Administration, or FDA; (iv) the
results of the clinical trial for the Neo-Urinary Conduit will support further development of that
product candidate; (v) data from the Company's ongoing preclinical studies will continue to be
supportive of advancing its preclinical product candidates; (vi) the Company will be able to
progress its product candidates that are undergoing preclinical testing, including the Neo-
Kidney Augment, into clinical trials; and (vii) the Company will be able enter into strategic
partnerships on favorable terms, if at all, or obtain the capital it needs to develop its product
candidates and continue its operations.

For additional factors which could cause actual results to differ from expectations, reference is
made to the reports filed by the Company with the Securities and Exchange Commission under
the Securities Exchange Act of 1934, as amended. The forward-looking statements in this
presentation are made only as of the date hereof and the Company disclaims any intention or
responsibility for updating predictions or expectations in this presentation.

Forward-looking Statements

Tengion products harness the body’s natural ability to regenerate

§ Unique and productive research platform

Neo-Urinary Conduit provides alternative to standard of care for bladder
cancer patients

§ Neo-Urinary Conduit avoids use of bowel tissue

§ Ongoing Phase 1 trial to enroll up to 10 patients

§ Focus on safety & defining the surgical procedure to implant the Neo-Urinary
Conduit

§ Anticipate patient 4 implant in Q1 2012; data permitting, implant patient 10 by end
of 2012

Neo-Kidney Augment delays progression of kidney failure

§ Four animal models of chronic kidney failure published and/or presented

§ Pre-IND filing anticipated in 1H 2012

Recent hiring of John Miclot as CEO (formerly CEO of Respironics)

Sufficient cash runway to achieve significant milestones in 2012

Company Highlights

INTEGRATED

PLATFORM

Industrialization

Cells

Biomaterials

Surgical Implantation

Humans have limited capacity to regenerate

Our platform uniquely catalyzes human tissue regeneration

Catalyzing Regeneration in the Body

Peripheral Artery Bypass

Advanced CKD

Cystectomy due to
Bladder Cancer

Cystectomy

Spina Bifida

Spinal Cord Injured

Short Bowel
Syndrome

Coronary Artery Bypass

Vascular Access Graft

Urge Incontinence (laparascopic)

Phase III

Phase II

Phase I

IND

Preclinical

Optimization

Neo-Vessel Replacement

Neo-GI Augment

Neo-Kidney Augment

Neo-Urinary Conduit

Neo-Bladder Replacement

Neo-Bladder Augment

Additional Platform Programs (not in active development)

Lead Platform Programs

Tengion Product Pipeline

Neo-Urinary Conduit

Up to 10 patients with primary bladder cancer requiring cystectomy

Sequential enrollment of initial patients

§ Allows for modifications to surgical procedure as needed

§ Three patients implanted to date at University of Chicago and Johns
Hopkins Hospital

– Anticipate patient 4 implant in Q1 2012

– Data permitting, implant patient 10 by end of 2012

Defining the surgical procedure

§ Surgical procedure has defined connection of NUC to ureters and blood
supply to NUC

§ Focus of procedure for 4th patient is to continue successful techniques
defined in patients 1-3 and translate procedure for stoma regeneration.

Primary efficacy assessment

§ Conduit integrity and patency at 1 year

Neo-Urinary Conduit: Initial Clinical Trial
Open label study to define surgical procedure and safety

Benefit of
Tengion
Products

Current
Standard of
Care

Primary
Patient
Populations
(US and EU)

Bowel used to create a tube to
transport urine from ureters to
abdominal wall into ostomy bag

Neo-Urinary Conduit

Phase I

Bladder cancer (20K/yr)

Bowel used to create a bladder
to carry and store urine inside
the patient for excretion via
urethra

Neo-Bladder Replacement

Pre-IND

Bladder cancer (1.6K/yr)

Eliminate the use of bowel and

reduce the associated complications and side effects

Neo-Bladder Augment

Bowel used to increase
bladder capacity and
decrease pressure

Phase II

Spina Bifida / SCI* (1K/yr)

*SCI = Spinal Cord Injury

Urologic Products to Enhance or Replace
Bladder

Neo-Kidney Augment

100,000 new dialysis patients each year in the US

§ 350,000 currently on dialysis

§ 20% annual mortality

§ $77,000 annual cost per patient

§ $39 billion in direct US costs annually for end stage kidney disease

Neo-Kidney Augment Overview
Intended to delay the need for dialysis or transplantation

Biopsy Cell Isolation & Culture Cell Selection Dose Preparation Delivery

(2-3 weeks) (<1 day) (2 weeks)

cells + carrier
injectable format

Initial data published in September, 2010

§ Aggressive preclinical rodent model of chronic kidney disease

§ Preserved functional kidney mass, slowed progression, improved survival at 6
months

Diabetic kidney failure

§ Aggressive diabetic, obese, hypertensive rodent model of kidney failure

§ Slowed kidney failure progression and improved survival at 1 year

Human kidney cells in nude rat kidney failure

§ Reversed kidney failure at 3 months

Large animal kidney failure

§ Observations consistent with small animal results

§ Effects seen as early as 7 weeks, with persistent effects reported at 9 months

Neo-Kidney Augment
Preclinical Data

NKA

NK
A

SHAM NX

HEALTHY NX NX + NKA

Renal cells delivered after chronic
disease state established enhanced
survival and renal function

§ sCREAT sustained at >200%

Renal cells improved multiple

structural and physiologic parameters

§ Enhanced survival

– 100% vs. 0% (Nx)

§ Improved glomerular function

§ Improved tubular function

Initial data published in September, 2010

§ Aggressive preclinical rodent model of chronic kidney disease

§ Preserved functional kidney mass, slowed progression, improved survival at 6
months

Diabetic kidney failure

§ Aggressive diabetic, obese, hypertensive rodent model of kidney failure

§ Slowed kidney failure progression and improved survival at 1 year

Human kidney cells in nude rat kidney failure

§ Reversed kidney failure at 3 months

Large animal kidney failure

§ Observations consistent with small animal results

§ Effects seen as early as 7 weeks, with persistent effects reported at 9 months

Neo-Kidney Augment
Preclinical Data

Treatment Group	63-week Survival
Untreated OB ZSF1	20% (1/5)
OB ZSF1 + NKA	100% (5/5)

Obese Tx (n=7)

Obese (n=5)

Age (Weeks)

Renal Cells improve kidney
function over time

Renal Cells support survival
beyond 50% mortality time point
for OB ZSF1

Initial data published in September, 2010

§ Aggressive preclinical rodent model of chronic kidney disease

§ Preserved functional kidney mass, slowed progression, improved survival at 6
months

Diabetic kidney failure

§ Aggressive diabetic, obese, hypertensive rodent model of kidney failure

§ Slowed kidney failure progression and improved survival at 1 year

Human kidney cells in nude rat kidney failure

§ Reversed kidney failure at 3 months

Large animal kidney failure

§ Observations consistent with small animal results

§ Effects seen as early as 7 weeks, with persistent effects reported at 9 months

Neo-Kidney Augment
Preclinical Data

Human-derived cells
prevent renal failure in
CKD Nude Rats for 3
mo.

Human-derived cells
improve CKD Nude Rat
nephron function

I-R/G Injury +
Human Renal
Cells

I-R/G Injury

Treatment

1 4 12

weeks post-treatment

* p<0.05

NoTx

Human Kidney Tissue Regeneration in Nude Rats

Delayed progression of CKD and stabilized renal function

Initial data published in September, 2010

§ Aggressive preclinical rodent model of chronic kidney disease

§ Preserved functional kidney mass, slowed progression, improved survival at 6
months

Diabetic kidney failure

§ Aggressive diabetic, obese, hypertensive rodent model of kidney failure

§ Slowed kidney failure progression and improved survival at 1 year

Human kidney cells in nude rat kidney failure

§ Reversed kidney failure at 3 months

Large animal kidney failure

§ Observations consistent with small animal results

§ Effects seen as early as 7 weeks, with persistent effects reported at 9 months

Neo-Kidney Augment
Preclinical Data

Treated

Untreated

Weeks Post Renal Cell Treatment

Significant reduction in rate of
tubular disease progression

§ Electrolyte,UPC

p < 0.0001*

Improvement and stabilization
of glomerular filtration

§ Iohexol Clearance (p<0.07)#

Ilagan et al, Amer Soc of Nephrology, 2010; Bruce et al, Exp Biol, 2011;

Kelley et al ISCT, 2010; Kelly et al TERMIS, 2010

Mechanism of Action Studies
NKA modifying widely accepted mechanisms

§ Engraftment

§ Renal cells persist for at least 6 months at low levels

§ Expansion post-implantation

§ NKA SRC and Resident nephron cellular components expand post-
implantation

§ Attenuation of inflammatory and fibrosis pathways

§ Substantially reduced gene and protein expression of key biochemical
and molecular pathways: TGFb >50%; PAI-1 >50%; Fibronectin 50%

§ NKA effects on chronic kidney disease can be linked to direct
and indirect mechanisms of selected regenerative cells.

Corporate

Financial Overview

September 30, 2011

Cash and Investments

Long-Term Debt

Adjusted Net Loss - YTD

Outstanding Shares

$20.3 M

$5.3 M

$18.2 M

23.9 M

June 30, 2011

$25.2 M

$5.6 M

$13.1 M

23.5 M

Tengion products harness the body’s natural ability to regenerate

§ Unique and productive research platform

Neo-Urinary Conduit provides alternative to standard of care for bladder
cancer patients

§ Up to 10 patients to be implanted in ongoing Phase 1 trial; data permitting,
complete patient 10 by end of 2012

§ Defining the surgical procedure to implant the Neo-Urinary Conduit

§ Advances have been made in first three patients

§ Current focus is on stoma regeneration

§ Anticipate patient 4 implant in Q1 2012

Neo-Kidney Augment delays progression of kidney failure

§ Four animal models of chronic kidney failure published and/or presented

§ Pre-IND filing anticipated in 1H 2012

Recent hiring of John Miclot as CEO (formerly CEO of Respironics)

Sufficient cash runway to achieve significant milestones in 2012

Summary

Tengion (TNGNQ) 8-KRegulation FD Disclosure