PACIFIC EDGE LIMITED — Investor Presentation 2021

Nov 10, 2021

PACIFIC EDGE

BELL POTTER HEALTHCARE CONFERENCE

10 NOVEMBER 2021

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Safe Harbour Statement and Disclaimer

Important Notice

This presentation has been prepared by Pacific Edge Limited (PEL) solely to provide interested parties with further information about PEL and its activities at the date of this presentation. Information of a general nature

The information in this presentation is of a general nature and does not purport to be complete nor does it contain all the information which a prospective investor may require in evaluating a possible investment in PEL or that would be required in a product disclosure statement for the purposes of the New Zealand Financial Markets Conduct Act 2013 (FMCA). PEL is subject to a disclosure obligation that requires it to notify certain material information to NZX Limited (NZX) for the purpose of that information being made available to participants in the market and that information can be found by visiting www.nzx.com/companies/PEB. This presentation should be read in conjunction with PEL’s other periodic and continuous disclosure announcements released to NZX.

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This presentation does not constitute legal, financial, tax, financial product advice or investment advice or a recommendation to acquire PEL securities, and has been prepared without taking into account the objectives, financial situation or needs of investors. Before making an investment decision, prospective investors should consider the appropriateness of the information having regard to their own objectives, financial situation and needs and consult an NZX Firm, solicitor, accountant or other professional advisor if necessary.

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Financial data

All dollar values are in New Zealand dollars unless otherwise stated.

This presentation should be read in conjunction with, and subject to, the explanations and views of future outlook on market conditions, earnings and activities given in the announcements relating to the results, and annual report, for the year ended 31 March 2020.

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Past performance

Investors should note that past performance, including past share price performance, cannot be relied upon as an indicator of (and provides no guidance as to) future PEL performance, including future financial position or share price performance.

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MOLECULAR DIAGNOSTICS making a difference globally

We are a globally focused cancer diagnostics company specialising in developing and commercialising molecular diagnostic tests that address large unmet needs in the detection and management of cancer.

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PACIFIC EDGE IS DELIVERING ON THE STRATEGY A GLOBAL CANCER MOLECULAR DIAGNOSTICS COMPANY

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Validated and class leading suite of Cxbladder products

• Four urine-based diagnostic tests (Cxbladder) for the detection and management of Urothelial Cancer (UC)

• First new diagnostic tests to be commercially available for UC in 19 years

• Commercial sales in New Zealand, Australia, Singapore and the U.S.

• CMS reimbursement and product specific CPT codes for Cxbladder Detect and Cxbladder Monitor

Portfolio of intellectual property and clinical evidence

• Products are underpinned by extensive clinical evidence published in toptier international journals

• Potential to leverage existing intellectual property into new product development for the detection and management of other cancers that can be detected in urine

Compelling growth opportunity

• The Annual Addressable Market (AAM) for Cxbladder in the U.S. estimated to be more than US$3.5b[*]

• Laboratory infrastructure in place in New Zealand and the U.S. with a combined design capacity for 300k tests per annum

• Dedicated and growing US sales force in place to drive test growth

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4

• Pacific Edge estimate, discussed further on slide 19

UROTHELIAL CANCER (UC) A SIGNIFICANT GLOBAL HEALTHCARE CHALLENGE

• ~ 550,000 new cases in 2018[1]

• ~ 200,000 deaths annually[1]

Urothelial Cancer

• 10th most common cancer globally, 6th most common in men[1 ] and the 5th most common in the US

• The disease is characterised by haematuria blood in the urine

• High recurrence rates ( with 70% recurrence following treatment). Requires regular monitoring

• High detection and management costs with invasive tests and procedures

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K idney 5%
are upper
tract (not
including
kidney)
Urete r
Bladder 95%
are bladder
cancer
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• Patient compliance low ~40% leading to an increase in disease progression

• Bray et al. Global cancer statistics 2018: GLOBOCAN estimates of incidence and mortality worldwide for 3 cancers in 185 countries. Ca Cancer J Clin. 2018;68:394-424

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5

CLINICAL PATHWAY FOR UROTHELIAL CANCER

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Primary Detection of UC - Hematuria Surveillance
FULL
EVALUATION REFERRAL EVALUATION,
BY PRIMARY TO A DIAGNOSIS MONITORING
PHYSICIAN SPECIALIST AND
TREATMENT
Traditional tests are expensive, invasive and have poor relative performance … providing
significant opportunities for new diagnostic tests that are cheaper, non-invasive and accurate.
The Cxbladder suite of products from Pacific Edge provides better care for patients, better
utility for urologists and savings for healthcare payers.
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CXBLADDER REVOLUTIONISES HOW UROLOGISTS DETECT AND MANAGE UROTHELIAL CANCER

Four class leading, urine based diagnostic tests for UC addressing multiple unmet needs across the clinical pathway:

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Cxbladder Triage (CxbT): Front line test for use in the primary evaluation of haematuria to rule out patients who do not have cancer

Cxbladder Detect (CxbD): For use by urologists for patients who have been referred for a full UC workup to detect cancers

Cxbladder Resolve[1] (CxbR): Segregates High Impact Tumours (HIT) from Low Impact Tumours (LIT) enabling a prioritisation of patients with cancer

Cxbladder Monitor (CxbM): Provides front line identification for urothelial cancer patients being monitored for recurrence of the disease

Integrated into standards of care and guidelines for a number of healthcare providers in New Zealand and the NCCN guidelines in the U.S.

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7

1. U.S. commercial launch of Cxbladder Resolve will be initiated in FY22

CXBLADDER’S CLASS LEADING PERFORMANCE METRICS: SENSITIVITY, SPECIFICITY AND NEGATIVE PREDICTIVE VALUE (NPV)

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Primary Detection of UC - Haematuria Surveillance of UC
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Cxbladder Triage	Cxbladder Detect	Cxbladder Resolve	Cxbladder Monitor
Sensitivity 95% NPV 99%	Sensitivity 82% Specificity 85% NPV 97%	Sensitivity (HIT) 92% Specificity (HIT) 94% NPV 99%	Sensitivity 93% NPV 97%

Cxbladder’s class leading performance metrics provides the confidence for physicians to:

1. Safely rule out patients who do not have disease,

2. significantly reduce the need for expensive, invasive tests 3. identify high impact tumours for immediate prioritization 4. Non-invasive test increases patient’s compliance with physicians clinical recommendations

HIT : High Impact Tumours; T1-T4, Cis, Ta HG

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8

FIRST MOVER ADVANTAGE WITH SIGNIFICANT COMPETITIVE ADVANTAGE

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9

Drive commercial use with large scale institutional accounts in each targeted market

Gain greater recognition in urology guidelines globally to enhance adoption

Positively shift our commercial customers to progress to include multiple Cxbladder products in their standard of care and commercial use

Trigger commercial activity in Australia and South East Asia following publication of SEA User Programme evidence

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Achieved

LAUNCH AND

COMMERCIALISE ALL FOUR CXBLADDER PRODUCTS IN OUR TARGETED MARKETS GLOBALLY

üCxbladder remains the only suite of products which cover the clinical pathway for urothelial cancer

üSuite of four Cxbladder products - three products commercially available in the U.S. Forward focus

• Fourth product – Cxbladder Resolve - to commence commercial launch in U.S. in FY22

• Strong adoption of Cxbladder is underway in NZ; accelerating momentum in U.S. and progression of User Programmes in Singapore and Australia

• • Gain greater recognition in national guidelines to deepen and accelerate commercial use of Cxbladder

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11

COMMERCIAL ADOPTION IN NZ LEADS THE WORLD

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• More than 70% of New Zealand’s

population now have access to Cxbladder through contract coverage by their public healthcare providers, who have adopted Cxbladder into commercial mainstream use and their standard of care

• New electronic guideline ‘Health Pathways’ with Cxbladder Triage and imaging for all haematuria patients - replacing previous gold standard cystoscopy and other tests and procedures

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12

PRIMARY REVENUE GENERATION FOCUS REMAINS UNITED STATES

Total Laboratory Throughput (TLT) by Region (as at 31 March 2021)

US Rest of World

TLT by Test Type (as at 31 March 2021)

UNITED STATES 75% FY21 Total Laboratory Throughput

SOUTH EAST ASIA

NEW ZEALAND

AUSTRALIA

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Pacific Edge’s perspective on the relative size of the market opportunity

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Triage Detect Monitor

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13

SIGNIFICANT U.S. TOTAL ADDRESSABLE MARKET > US$3.5 BILLION OPPORTUNITY FOR CXBLADDER PRODUCTS IN BOTH THE EVALUATION OF HAEMATURIA AND MONITORING FOR DISEASE RECURRENCE

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U.S. ANNUAL ADDRESSABLE MARKET MORE THAN 5 MILLION CXBLADDER TEST OPPORTUNITIES PER YEAR WITH AN ESTIMATED ANNUAL REVENUE POTENTIAL OF MORE THAN US$ 3.5 BILLION*

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14

• Pacific Edge estimate

Achieved

SUSTAIN THE GLOBAL FIRST MOVER ADVANTAGE; MAKE CXBLADDER THE PREFERRED GO-TO DETECTION AND MANAGEMENT TESTS FOR UROTHELIAL CANCER

üStrong competitive advantages – first mover position, leader in the field, years of investment into development and validation, IP protection

üIncreasing coverage by U.S. payers (insurers)

üSignificant portfolio of peer-reviewed published papers supporting superior performance of Cxbladder products

üConcluded major U.S. reimbursement and commercial milestones

üIncluded under the NCCN guidelines for monitoring for recurrence

üKaiser Permanente signed up and now commercially using both Cxbladder Monitor and Cxbladder Triage

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15

Achieved

REIMBURSEMENT

COVERAGE BY THE CMS PROVIDES A SIGNIFICANT VALIDATION AND COMMERCIAL MILESTONE

The successful LCD decision has allowed Pacific Edge to start recognising revenue (under NZ IFRS 15) for tests that are performed on CMS patients (Medicare and Medicare Advantage) in the US at the CMS price of US$760 per test for Medicare

ü CMS* reimbursement coverage for Cxbladder Detect and Cxbladder Monitor from 1 July 2020 at US$760 per test

ü CMS related tests (Medicare and Medicare Advantage) accounted for 67% of U.S. commercial test volumes in FY21

ü Cxbladder Detect and Cxbladder Monitor accounted for the majority of U.S. commercial test volumes in FY21

ü Inclusion in the CMS’s Local Coverage Determination (LCD) has resulted in a significant increase in recognised revenue and cash receipts – with CMS tests paid in approximately 30 days

ü Many global healthcare providers regard CMS reimbursement as a significant validation – which is expected to pave the way for wider adoption

• Centers for Medicare and Medicaid Services is the US National insurance payer for all US citizens over 65 years of age

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16

PIVOTAL CLINICAL PAPER

HIGHLIGHTS SIGNIFICANT BENEFIT FROM USE OF MULTIPLE CXBLADDER PRODUCTS

• § Co-authored by leading U.S. urologists and accepted for publication in the Journal of Urology[*]

• § Demonstrates the significant clinical and patient benefits from the use of a combination of Cxbladder products to:

• § Firstly rule out those who do not have cancer;

• § Then accurately identify those with cancer; and

• § Finally, segregate out those with high-impact tumours for priority investigation.

• § Highlights the enhanced clinical resolution from the integrated use of Cxbladder tests to provide 4.8x higher efficacy in the segregation of patients by risk class, than the latest American Urological Association (AUA) guidelines

The Journal of Urology is the official journal of the American Urological Association (AUA) and the most widely read and highly cited journal in the field of Urology. The paper publication on 8 July 2021

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17

RECENT PUBLISHED EVIDENCE SUPPORTS OUTPERFORMANCE OF CXBLADDER PRODUCTS

Real world use of the Patient –In-Home-Sampling-System for patients at home in the US during the Covid-19 pandemic

American Urological Association’s (AUA) Journal of Urology - “real world lookback study” highlighting the clinical utility of Cxbladder Monitor being used in the Covid setting for managing patients outside the clinic

The publication concluded that the use of Cxbladder Monitor and Pacific Edge’s Patient-In-Home Sampling System:

• Could be used to further stratify low risk patients for decreased surveillance during the pandemic and beyond;

• Reduced the number of cystoscopies required; and

• Was feasible and safe for patients being monitored for urothelial cancer during the Covid-19 pandemic.

The clinical paper was authored by Carrisa Chu, Kevin Li, Maxwell Meng and Sima Porten from the Department of Urology at the University of California San Francisco. The paper published Journal of Urology September 2021

18

GUIDELINES INCLUSION WILL ACCELERATE GROWTH

Inclusion in guidelines is a progressive process requiring substantive clinical evidence and generally follows post mainstream adoption by healthcare providers.

Cxbladder has been included in:

• New Zealand’s national standard of care and many of the local guidelines, replacing the gold standard cystoscopy

• The U.S.’s NCCN Guidelines with a 2b recommendation for patients being monitored for recurrence of urothelial cancer

Our focus will continue on:

• The publication of additional peer reviewed evidence highlighting the validation and clinical utility of the Cxbladder products in our target markets

• Changes are now being seen in both AUA and EAU 2020 guidelines wording that could help facilitate our inclusion

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19

GROW THE ADOPTION OF CXBLADDER BY LARGE SCALE INSTITUTIONAL HEALTHCARE CUSTOMERS, FOR MULTIPLE TARGETED CLINICAL NEEDS

Our focus on obtaining agreements for commercial use of Cxbladder by large institutional accounts has been shown to be successful in NZ and now the U.S.

Achieved

üInclusion in LCD for CMS reimbursement üCommercial agreement with Kaiser Permanente

üGrowing adoption and use by large scale, highly reputable healthcare organisations

üMore than 70% of NZ’s population under coverage by public healthcare providers

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20

ADOPTION OF MULTIPLE CXBLADDER PRODUCTS

• § Increasing awareness of Cxbladder as a proposition to better manage urology patients in the global Covid pandemic

• § Allows urologists and healthcare providers to manage patient care from home and reduce number of patients coming into clinics

• § New Zealand leading the world in adoption and commercial use of multiple Cxbladder products, and inclusion in standards of care

• § Kaiser Permanente moving to commercial use of second Cxbladder product, Cxbladder Triage

• § Pivotal Cxbladder clinical performance paper published in high profile urology journal; highlighting benefits and clinical utility from multiple product use

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21

• KAISER PERMANENTE: LARGE COMMERCIAL CUSTOMER FOR CXBLADDER AND PROVIDES SIGNIFICANT VALIDATION

• Kaiser is the largest non-profit healthcare provider in the U.S. with over 12 million members (approximately 3.8% of the U.S. population), 39 hospitals and approximately 23,000 physicians.

• Kaiser is reported to manage ~2% of U.S. urology patients

• Around 800,000 people in the U.S. are reportedly monitored for urothelial cancer, up to 4 times per year for 5 years

• National agreement with Pacific Edge for all Cxbladder products

• Utilising Cxbladder’s Patient In-Home Sampling System for its patients, with the process managed by Pacific Edge

• Kaiser reported approximately 15% of consultations were telehealth prior to Covid-19. The proportion of telehealth consultations are reported by Kaiser to have increased to around 95% during Covid19

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22

COMMERCIAL USE OF CXBLADDER BY KAISER PERMANENTE

• Commercial use of Cxbladder Monitor progresses, however, pace of roll-out still hampered by Covid-19

• Commitment to start commercial use of Cxbladder Triage commenced in August of 2021 well ahead of expected schedule. CxbT will add volume to the use of Cxbladder Monitor

• Growth in the commercial use of Cxbladder is expected to grow progressively in Kaiser Permanente over the latter part of FY22/early FY23 as Covid restrictions ease and electronic management of processes are concluded

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23

CONTINUING EVALUATION AND USE OF CXBLADDER BY LARGE HEALTHCARE INSTITUTIONS

USA		USA		SOUTH EAST ASIA
• Kaiser Permanente (Completed) • Carolina Urologic Research Center • City of Hope • Cleveland Clinic • Cornell • Fox Chase CC • Johns Hopkins CC • MD Anderson • Moffitt CC • Ohio State University CC • Penn State Milton S. Hershey Medical Center • Rush University • Thomas Jefferson University • TriStar Medical Center • UCLA		• University of California-San Diego • University of California-San Francisco • University of Chicago • University of Colorado • University of Michigan • University of Minnesota • University of Oklahoma • University of Pennsylvania • University of Southern California • UT Southwestern • VA Accounts • Wellstar		• Singapore General Hospital • Tan Tock Seng • Khoo Tech Puat Hospital • KK Women’s and Children’s Hospital • National University Hospital • Raffles Medical Group • Gleneagles Private Hospital
				AUSTRALIA/NEW ZEALAND
				• AUS: Multiple large public hospitals across Australia • NZ: Majority of public healthcare providers

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GROWING REIMBURSEMENT BY U.S. HEALTHCARE PROVIDERS AND PAYERS

UNITED HEALTHCARE COVERAGE

FACEY MEDICAL GROUP

• The largest private health insurer in the U.S 50 million members with more than 5.7 million Medicare Advantage members

• Coverage has facilitated reimbursement for Cxbladder Detect and Cxbladder Monitor tests performed on United Healthcare patients (Medicare Advantage policy holders) from 1April 2021 at US$760 per test

• Multi-specialty medical group with over 180 physicians providing care to more than 170,000 patients in California

• Affiliated with, or owned by Providence Health & Services, one of the largest health systems in the Western United States.

• Agreement covers the use of Cxbladder Detect and Cxbladder Monitor for Facey Medical Group patients.

25

FY21 AND FY22 YTD PERFORMANCE

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26

OUR CHANGING WORLD: COVID HAS PRESENTED CHALLENGES AND OPPORTUNITIES FOR PACIFIC EDGE

• The value of a robust healthcare system and enduring infrastructure has become evident

• The pandemic accelerated the deployment of innovative technologies and platforms, in particular telemedicine

• Adoption accelerated from the lifting of barriers, increase in CMS reimbursement rate

• Telemedicine is becoming a sustained channel in the healthcare sector, during and post-Covid19

• Drivers to changing established physician and healthcare provider behaviour – education and publication of peer reviewed high performance evidence

27

Pacific Edge, our Cxbladder products and urine sampling system were identified by many customers and urologists as being central to enabling telemedicine, in the urology space, when the Covid-19 pandemic took hold:

• Pacific Edge’s U.S. reimbursement milestones in place

• Commercial agreement with largest single validation customer in U.S. – Kaiser Permanente

• Existing system in place for in-home sampling; tested and proven by Kaiser Permanente study

• Simple and effective solution for urologists

• New Zealand urologists leading the way globally

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28

FY21 WAS A YEAR OF ACHIEVEMENT IN A DIFFICULT GLOBAL ENVIRONMENT

ü CMS coverage for Cxbladder Detect and Cxbladder Monitor

ü Commercial agreement with Kaiser Permanente for all four Cxbladder tests

ü Publication of additional clinical evidence highlighting the clinical utility of Cxbladder ü Scale up of U.S. operations to accelerate revenue growth

ü Commercial agreements with NZ public healthcare providers for more than two thirds of NZ’s population

ü Inclusion in S&P/NZX 50 Index

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FY21 DELIVERED STRONG IMPROVEMENT ACROSS OUR KEY FINANCIAL METRICS

Financial Milestones

ü 76% increase in operating revenue ü 52% increase in cash reimbursement ü 25% decrease in net loss after tax ü 56% increase in net cash, cash equivalents and short term deposits

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25
20
15
10
5
0
Total Revenue Operating Cash Receipts Cash &
Revenue equivalents
FY20 FY21
$Millions
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30

GROWTH CONTINUES IN FY22 Q1 FY22 was a record quarter for Cxbladder test volumes and cash receipts

Q1 FY22 Total Laboratory Throughput:

Total Laboratory Throughput

• Up 79% on Q1 FY21

6,000

• Up 9% on Q4 FY21

• Up 35% on quarterly average from FY21

• Q1 FY22 Cash Receipts:

• Up 142% on Q1 FY21

• Up 21% on Q4 FY21

• Up 50% on quarterly average in FY21

5356

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5,000
4,000
3,000
2,000
Q1 21 Q2 21 Q3 21 Q4 21 Q1 22
Test Numbers
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POSITIVE GROWTH OUTLOOK

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STRONG PLATFORM TO ACCELERATE GROWTH

• Four class leading products for the detection and management of Urothelial Cancer (UC), addressing a large, under-served global market opportunity - AAM for Cxbladder in the U.S. estimated to be more than US$3.5b

• Reimbursement milestones achieved in U.S. – CMS coverage and United Healthcare coverage for Cxbladder Detect and Cxbladder Monitor

• Commercial agreement with largest single validation customer in U.S. – Kaiser Permanente with 12.8 million people covered

• The majority of the public healthcare providers signed up in New Zealand covering more than 70% of the national population

• Two proprietary CAP-accredited, CLIA certified laboratories with a combined design capacity for approximately 300k tests per annum

• Recent ASX dual listing and $103.5m capital raise provided funding to execute growth strategy and accelerate commercial opportunities

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28

SCALE-UP OF U.S. COMMERCIAL OPERATIONS DRIVING GROWTH

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• Building US sales team to accelerate the adoption of Cxbladder: 28 account managers as at 31 October 202

• Expanding new and existing sales territories

• Expansion of customer services team to drive Patient In-Home Sampling System program for Kaiser and others

• Growing portfolio of published, clinical evidence in tier 1 clinical journals is driving adoption and inclusion in guidelines

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• U.S. Laboratory design capacity: 260,000 tests p.a

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34

OUTLOOK

The U.S. remains Pacific Edge’s primary near term focus:

• § An increasing number of commercially reimbursed tests from CMS and Kaiser Permanente covered patients are currently expected to underpin strong revenue growth and growth in cash receipts in FY22 and beyond;

• § Positive results from the recent scaleup of U.S. commercial operations are now starting to be seen;

• § United Healthcare* coverage provides validation supporting the potential adoption and coverage of Cxbladder with other private payers in the U.S.

• § Strong growth continues in New Zealand with customers moving to multiple Cxbladder products in mainstream use

• § Southeast Asia has the potential to become a market of scale over time with an accessible population base larger than the U.S.

• § Australia is in the early stages of commercial takeup and there exists an opportunity to deliver sales and volume growth

• § Potential to develop and grow new product opportunities by leveraging the company’s intellectual property across other cancers that can be detected in urine

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• Currently Medicare Advantage policyholders

“Pacific Edge has an exciting and profitable future ahead. We have a proven team delivering on a huge market opportunity for our Cxbladder products and we are just starting to scratch the surface. We are now well positioned to accelerate our momentum and grow adoption of our novel and world leading products.” David Darling CEO Pacific Edge November 2021

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36

DISCUSSION

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37