RHYTHM BIOSCIENCES LIMITED — Capital/Financing Update 2021

Aug 30, 2021

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ASX Announcement

ASX code: RHY ACN: 619 459 335

No Extension to Rights Issue Offer Closing Date

31 August 2021, Melbourne: Rhythm Biosciences Limited (ASX: RHY) would like to remind shareholders that the non-renounceable pro-rata rights issue to Eligible Shareholders of up to 5,054,270 New Shares on the basis of 1 New Share for every 40 Shares held by Shareholders at the Record Date at an issue price of $0.85 per New Share together with 1 Class A Option and 1 Class B Option for every 2 New Shares subscribed under the Offer to raise a maximum of approximately $4.3 million before costs ( Offer ), closes at 5.00pm Friday, 3 September 2021.

Given the level of acceptances already received, the Board have determined not to extend the closing date .

Any eligible shareholder who has not taken up some or all of their entitlement under the Offer, and who wishes to participate in the Offer, should refer to the details contained in the Prospectus which can be accessed on the Company’s website or via this link: https://bit.ly/RHYrightsprospectus30July2021

Released with authority of the Board.

For further information, please contact:

Glenn Gilbert Chief Executive Officer +61 3 8256 2880

Australian Registered Office Level 2, 480 Collins Street Melbourne VIC 3000 www.rhythmbio.com

Rhythm Biosciences ACN: 619 459 335 ASX: RHY

Issued Capital 202,245,811 Shares 10,295,000 Options

Directors

Otto Buttula – Chairman of the Board Trevor John Lockett – Executive Director Louis James Panaccio – Non-Executive Director Eduardo Vom – Non-Executive Director

About Rhythm Biosciences

Rhythm Biosciences (ASX: RHY) is a transformative, predictive diagnostics company, specialising in early cancer detection. Rhythm’s initial business pursuit is centred upon technology originally developed by the CSIRO and involves the development and commercialisation of a screening and diagnostic test for the early detection of colorectal cancer, the third biggest cause of cancer-related deaths globally.

Rhythm’s lead product, ColoSTAT[®] , is intended to be a simple, affordable, minimally invasive and effective blood test for the early detection of bowel cancer for the global mass market. It is expected to be comparable to, if not better than, the current standard of care, the faecal immunochemical test (FIT), at a lower cost. ColoSTAT[®] also provides an alternative for those who choose not to, or are unable to, be assessed using standard screening programs.

ColoSTAT[®] is designed to be used easily by laboratories without the need for additional operator training or additional infrastructure. ColoSTAT[®] has the potential to play an important role in reducing the morbidity and mortality rates and healthcare costs associated with colorectal cancer via increasing current screening rates.

Globally, over 850,000 people die from colorectal cancer each year. Colorectal cancer is typically diagnosed at a later stage when there is a poor prognosis for long-term survival. Annual estimated unscreened 50-74-year old’s is estimated at +130m for the US, EU and AU alone, with this market potential being more than $6.5b.