Rhythm Biosciences : RHY Presentation at PAC Partners Healthcare Conference

ASX Announcement

6 April 2022

For personal use only

Release of Investor Presentations Represent Non-Deal Roadshows

Transformative, predictive cancer diagnostics technology company, Rhythm Biosciences Ltd (ASX: RHY) (Rhythm or the Company) would like to clarify, given shareholder queries and market speculation, that the ASX release on 5 April 2022, titled Investor Presentation and the release following this notice, titled 'Pac Partners Inaugural Healthcare Conference' are in regard of in-person investor presentations and should be considered a non-deal roadshow.

The release of the presentations onto the ASX platform is in line with ASX governance practices.

Non-Deal Roadshow (Investor Presentations)

The Company confirms it:

•  is not seeking to effect any transactions as a result of these presentations;

•  is well capitalised, with cash at bank of $10.8m as of 28 February 2022;

•  anticipates receiving up to circa $3.84m, as a result of ($1.20) in-the-money options expiring on 31 August 2022;

•  expects to receive a Research & Development tax refund circa in line with the $2.4m received in 1H'FY22 by the end of the calendar year; and

•  is targeting first revenues late CY'22.

- ENDS -

Authorised for release by the Board.

For further information contact:

Glenn Gilbert

CEO and Managing Director [phone]

About Rhythm Biosciences

Rhythm Biosciences Ltd ACN 619 459 335

ASX: RHY

www.rhythmbio.com

Australian Registered Address

Bio21 Molecular Science & Biotechnology Institute 30 Flemington Road

Parkville VIC 3010 Australia

• T [phone]

• [e-mail] Otto Buttula Glenn Gilbert Trevor Lockett Rachel David Louis Panaccio Eduardo VomExecutive ChairmanManaging Director Executive Director Non-Executive Director Non-Executive Director Non-Executive Director

For personal use only

Rhythm Biosciences is focused on becoming a globally significant, transformative, predictive diagnostics company, specialising in cancer detection technology. The Company is currently developing ColoSTAT® - a simple, low-cost, blood test for global mass market detection of colorectal cancer.

Worldwide, colorectal cancer is the third most common cancer in men and the second most common in women, accounting for an estimated 1.9 million new cases and 935,000 deaths annually.

In an effort to reduce the global burden, many countries have implemented screening programs aimed at early detection. These programs are predominantly administered with a faecal immunochemical test (FIT) for the assessment of colorectal cancer risk, with a positive result referred for a colonoscopy. FIT only analyses the presence of blood in faeces, which can occur for several reasons other than cancer, therefore it is not designed as an accurate test for cancer. Many people simply don't take the test for fear of an unnecessary colonoscopy procedure, unpleasantness, difficulty, or for religious/cultural reasons. There is currently no appropriate blood test alternative.

Rhythm aims to transform the global mass-market for colorectal cancer detection with ColoSTAT® its simple, low-cost blood test that is fit for purpose, meaning that it is designed to actually detect colorectal cancer. Since listing on the ASX in 2017, the Company has run a successful multi-year research and development program that has delivered technical validation of the core biomarker technology, being reproducible and stable. The ColoSTAT® test-kit was manufactured in 2021 and delivered performance testing that outperforms the current market standard faecal immunochemical test (FIT) utilising Rhythm's proprietary algorithm. The Company is currently finalising its clinical trial for ColoSTAT®, and is progressing regulatory, manufacturing and scale up activities ahead of market entry in 2022.

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 a key role in reducing the morbidity and mortality rates and healthcare costs associated with colorectal cancer via increasing current screening rates.

Rhythm's initial targeted global addressable population is over 800 million people which are over 50 years of age. Almost 70%, or 550 million people, are not currently screened for colorectal cancer due to the limitations of the current faecal based testing regime. This "at risk" population is also expanding with the disease growing rapidly in much younger age groups. Early detection and intervention can lead to cure in over 90 per cent of new cases, therefore the need for effective screening and early intervention has the potential to save a significant number of lives. Rhythm estimates today's colorectal cancer screening market alone to be worth in excess of $38 billion.

www.rhythmbio.com

ersonal use only

PAC Partners

Inaugural Healthcare Conference

6 April 2022 ASX:RHY

A transformative and predictive cancer diagnostics technology company

Disclaimer

ersonal use only

This presentation has been prepared by Rhythm Biosciences Limited (Rhythm) and is provided for general information purposes only. No party other than Rhythm has authorised or caused the issue of this document, or takes responsibility for, or makes any statements, representations or undertakings in this presentation.

This presentation is not intended to be relied upon as advice to investors or potential investors and does not take into account the investment objectives, financial situation or needs of any particular investor. Rhythm makes no warranty or representation (express or implied) as to the accuracy, reliability or completeness of the information contained in this presentation. Specifically, several matters referred to in the presentation remain under investigation and are subject to change or even elimination, depending on further research and investigation. Further, any opinions (including any forward-looking statements) expressed in this presentation are subject to change without notice. Rhythm and its directors, officers, employees, advisers and agents shall have no liability (including liability to any person by reason of negligence or negligent misstatement) for any statements, opinions, information or matters (express or implied) arising out of, contained in or derived from or for any omissions from this presentation, except liability under statute that cannot be excluded.

This presentation, including the information contained in this disclaimer, does not form part of any offer, invitation or recommendation in respect of shares, or an offer, invitation or recommendation to sell, or a solicitation of any offer to buy, shares in the United States, or in any other jurisdiction in which, or to any person to whom, such an offer would be illegal.

This presentation may include forward-looking statements. Forward-looking statements are only predictions and are subject to known and unknown risks, uncertainties and assumptions, many of which are outside the control of Rhythm. Actual values, results or events may be materially different to those expressed or implied in this presentation depending on a range of factors. Given these uncertainties, recipients are cautioned not to place reliance on forward-looking statements. No representation or warranty (express or implied) is made by Rhythm or any of its directors, officers, employees, advisers or agents that any forecasts, projections, intentions, expectations or plans set out in this presentation will be achieved.

Introduction

ersonal use only

Rhythm's initial product, ColoSTAT® is a simple, low-cost blood test for the early detection of colorectal cancer for global mass-market screening.

IP protection secured in all major international jurisdictions.

Commenced platform technology program for multiple / pan cancer targets.