Pacific Edge (PEB) Investor update summary

Strategic and Operational Update

• Draft Local Coverage Determination (LCD) for hematuria evaluation, including Cxbladder Triage and Triage Plus, is anticipated before September 2026, with final LCD expected before March 2027.

• Plans to seek claim-by-claim reimbursement after draft LCD publication to drive revenue prior to final coverage.

• Transitioning from legacy products to Triage Plus and Surveillance Plus, with Surveillance Plus CPT code submission targeted for December and reimbursement expected from July 2027.

• Kaiser Permanente Mid-Atlantic pilot study underway, potentially expanding access to 800,000 lives.

• National clinical pathway consideration in New Zealand and expansion efforts in Australia and Southeast Asia.

Financial Performance and Capital Management

• FY26 operating revenue declined to $11.5 million, with a net loss of $35.7 million, mainly due to Medicare non-coverage.

• Cash burn reduced to $2.4 million per month in the second half of FY26, with further reductions targeted for FY27.

• NZ$24 million capital raise launched via NZ$18 million placement and NZ$6 million retail offer at NZ$0.170 per share, a 2.3% discount to last traded price, to strengthen the balance sheet and support operations, Medicare re-coverage, and product development.

• Cash and cash equivalents were $5.1 million at 30 April 2026 and $7.8 million at March 2026, with post-offer funding expected to be NZ$29.1 million.

• APAC revenue and test volumes increased, contributing 19% of overall revenue in the second half, with APAC operations trending toward profitability on a direct cost basis.

Market Opportunity and Payer Landscape

• Total addressable market for hematuria evaluation and bladder cancer diagnostics is estimated at $10.8 billion globally, with the US as the largest opportunity.

• Medicare coverage expected to unlock commercial payer revenue by removing denial barriers and leveraging state biomarker laws.

• Commercial payers, especially for intermediate-risk patients, represent a market nearly four times larger than Medicare, with recent policy wins from BCBS North Carolina and South Carolina.

• Positive medical policies secured from Avalon and ECRI, with Blue Cross Blue Shield of North and South Carolina adopting these policies.

• Kaiser Permanente remains a key customer, with ongoing implementation and new pilot studies.