EXACT Therapeutics (EXTX) investor relations material

Company status and clinical update

• Focused on developing ultrasound-based targeted oncology therapies, with PS101 targeting locally advanced pancreatic cancer (LAPC).

• ENACT Phase II trial in LAPC is ongoing, with promising early results showing significant tumor shrinkage, biomarker reduction, and some patients moving to curative treatment.

• All clinical sites in the US and UK are open for enrollment, with dose escalation and safety reviews progressing as planned.

• Interim readout for the phase II study is expected end of 2024 or mid-2026, with final analysis in the first half of 2027.

• Recent advances in KRAS/RAS-targeted therapies validate the approach and increase enthusiasm in the field.

Rationale and process for delisting

• Euronext Growth listing has low liquidity, with 50% of trading days seeing no trades and only 4.2% of shares traded year-to-date.

• Shareholder structure is concentrated, with the top 10-20 holders owning 75-87% of shares, limiting liquidity.

• Delisting is proposed to attract international VC funding, reduce costs, and support late-stage clinical development.

• Board and management unanimously support delisting to build future value and enable capital access.

• Feedback from venture capital and advisors indicates a private setting is needed for successful future financing.

Delisting process and shareholder impact

• General assembly vote on June 12 will authorize the board to apply for delisting; requires two-thirds majority.

• If approved, Oslo Stock Exchange will process the application, with last trading day likely in October and shares tradable until then.

• Shareholder rights and protections remain unchanged, but trading will move to alternative channels post-delisting.

• No exit offer is currently planned for minority shareholders; OSE will assess potential detriment before approval.

• Regular updates on clinical and financial status will continue via company channels.