PE Announces Improved Result and Capital Raising

1
PACIFIC EDGE LIMITED ANNOUNCES IMPROVED RESULT AND CAPITAL RAISING
Pacific Edge has announced an improved half year performance and capital raising to assist the company to
progress its commercial objectives.

(NZ$'000)
1H19
(unaudited)
1H18 Restated
(unaudited)
1H18: 1H19
(% change)
Operating Revenue (test sales) 2,033 1,425 43%
Other Revenue 606 627 (3%)
Total Revenue 2,639 2,052 29%
Operating Expenses 11,358 12,091 (6%)
Net Loss 8,719 10,039 (13%)
Net operating cash outflow (8,612) (10,185) (15%)
Cash on hand as at 30 September
(cash, cash equivalents and short term deposits)
10,060 3,997 152%

• Revenue from test sales up 43% on prior comparative first half year period (pcp).
• Billable test volumes up 12%, relative to a strong pcp and currently account for 82% of total laboratory throughput.
• Net operating cash outflow has reduced to ($8.6m) for the period, a 15% decrease on the previous first half year.
• Commercial adoption of Cxbladder by national healthcare providers is at a high level in Pacific Edge’s home market
of New Zealand and continues to improve, with 62% coverage providing significant local and international validation
(1H18: 36% coverage).
• Completion of two of the three milestones required for the USA national reimbursement being receipt of product
codes and notification of a national price (US$760 per test).
• Increased focus on large healthcare organisations in all markets is providing commercial traction; resulting in the
commercial evaluation of Cxbladder by Johns Hopkins Medicine, an US$8 billion integrated global health enterprise
and one of the leading health care systems in the USA.
• Commercial engagement with Raffles Medical Group and User Programmes with the five largest hospitals in
Singapore is driving strong engagement with other potential strategic partners across South East Asia.
• Pacific Edge intends to undertake a placement of up to $7m of new shares, followed by a share purchase plan of up
to $5m, to assist the company to progress its commercial objectives and become cash flow positive as soon as
possible.

Cancer diagnostics company, Pacific Edge Limited (NZX: PEB) has today announced its preliminary, unaudited results for
the six months to 30 September 2018 (1H19), reporting a 43% increase in test sales, a 15% decrease in operating cash
outflow and a 13% reduction in the net loss for the period.

The company, which is primarily focused on the US$1.2 billion annual addressable market
1
for its Cxbladder bladder
cancer diagnostic test in the USA, continues to grow sales and build awareness amongst leading urologists and healthcare
institutions.

The FY19 financial year to date has seen some notable firsts, including Cxbladder being added into local guidelines for
several of the public healthcare providers in New Zealand, engagement with a number of large healthcare organisations
including commencement of a commercial evaluation with Johns Hopkins Medicine, and notification of the national CMS
reimbursement price in the USA of US$760 per test.


1
EY Parthenon review of Cxbladder market size in the USA. Company strategy review document.

2
Validation from the New Zealand market is now at high levels, with approximately 62% of New Zealand’s population now
covered by contracts with the national public healthcare providers (up from 36% at the same time last year). This is
expected to increase further as remaining providers come on board. The majority have now adopted Cxbladder into their
standard of care and, in some cases, their clinical guidelines, replacing the gold standard cystoscopy. The company
expects to see the contribution from New Zealand’s public healthcare providers positively impact on commercial test
throughput in the second half of FY19.

The USA market remains the priority for Pacific Edge. Management is focused on completing agreements and building
sales from the large institutional accounts and payers it is targeting, including Kaiser Permanente, the recently
announced Johns Hopkins Medicine, the Veterans Administration and Tricare, the CMS and other blue chip institutions.

The company has now completed two of the three cornerstones of the USA national reimbursement process, and
progress continues to be made with the third of these cornerstones, which is to have Cxbladder included in the Local
Coverage Determination (LCD). This will allow for reimbursement of tests used by patients covered by the CMS. The
process is largely driven by peer reviewed, published clinical and utility evidence for the Cxbladder products, with a
general ‘rule of thumb’ being that it takes around five years to generate the specific evidence and gain inclusion into the
LCD. Pacific Edge commenced the LCD process in 2014 and continues to make good progress.

Following the success in New Zealand with the increased uptake by the national public healthcare providers, Pacific Edge
has increased its focus on large institutional healthcare organisations in its USA, South East Asia and Australasian markets.
While these customers can take longer to bring to completion, once commercial agreement is reached they can provide
significant volume, require lower sales maintenance and deliver more sustainable, longer term growth opportunities.

User Programmes are now underway with all five targeted hospitals in Singapore. Several are nearing completion and
the focus is on transitioning these to commercial customers. In Australia, Pacific Edge has taken over the sales and
distribution of Cxbladder, building on the successful practices developed in the New Zealand market.

Adoption of Cxbladder is growing and commercial sales are increasing. Pacific Edge has experienced a year on year 12%
lift in billable tests in 1H19, consolidating and growing on the strong numbers in 1H18. Total laboratory throughput,
which includes commercial sales as well as tests from User Programmes, grew to 7,397 tests in 1H19.

Operating revenue
2
from test sales was up 43% to $2.0m, with total revenue for the period of $2.6m. The company
accounts for its US revenue on a cash basis, and therefore operating revenue excludes tests sold in the US for which cash
payment has yet to be received, as well as tests completed for patients covered by the CMS
3
. The average payment
received per test by Pacific Edge is dependent on the mix of payers and insurance plans of each patient and can vary
significantly from period to period.

Pacific Edge has a prudent approach to its investment into the growth of the company. Total operating expenses for the
half year were down 6% to $11.4m with revenue outgrowing expenses by a net 13%. Operating expenses include research
and development costs of $1.7m (a 23% year on year decrease), with the remainder being direct operating costs.

2
Pacific Edge adopted NZ IFRS 15 in FY18. This means revenue for US based customers is now only recognised when the cash is received.
Under the previous accounting standard, which took into account all tests sold but which may not have yet been paid for, operating revenue
would have been $5.6m in 1H19, compared to $4.2m in 1H18 (an increase of 33%).

3
CMS tests account for approximately 47% of annual US laboratory throughput and cumulatively totalled in excess of 14,000 tests as at 30
September 2018. Pacific Edge will seek reimbursement for these when it is included in the CMS’s Local Coverage Determination (LCD).
Until then, these tests remain in the billing and reimbursement process and revenue will be accounted for when the cash is received.

3

Net operating cash outflows reduced to ($8.6m) for the period, a 15% decrease on 1H18. Cash receipts from customers
increased 22% to $2.0m with a large portion of the cash received in 1H19 being for tests sold in prior years.

Overall, the company reported a net loss of $8.7m for the half year, an improvement of 13% on the 1H18 loss of $10.0m.

Pacific Edge had $10.1m in cash, cash equivalents and short term deposits at 30 September 2018 (1H18: $4.0m), which
includes the investment of approximately $2.6m by US private investment fund, Manchester Management Company,
which specialises in biotech and life sciences investments. The company is undertaking a capital raise to assist in
progressing its commercial objectives and becoming cash flow positive as soon as possible.

Outlook

Pacific Edge is expecting a stronger second half of FY19, in line with annual trends as Americans with private healthcare
insurance reach their annual fixed deductible level
4
. The company also expects to see demand from public healthcare
providers in New Zealand positively impact commercial test throughput volumes in the second half of FY19.

Laboratory throughput is expected to increase by 23% in the second half of FY19, taking laboratory throughput for the
full year to approximately 16,500 tests (FY18: 14,448 tests)
5
. Approximately 82% of these tests are expected to be
billable, equating to a 14% year on year increase in commercial test volumes. The expected laboratory throughput in
FY19 excludes test volumes from any new commercial agreements which have yet to be signed. The New Zealand market
is expected to contribute approximately 18% of total laboratory throughput in FY19 (FY18: 14%).

Forward growth in commercial tests in the US will benefit from having a national product specific code for Cxbladder and
a national CMS reimbursement price. These milestones allow the company to move into the process of negotiating
contract terms with private payers, which will enable a shortening of the overall commercial transaction time and a
positive reduction in the time to receipt of cash.

CEO of Pacific Edge, David Darling, said: “Many of the foundations for commercial success have now been completed.
We have a proven business model, as can be seen in the uptake of Cxbladder in New Zealand, and we are using learnings
from this to replicate our success in other international markets.

“We are focused on growing adoption of Cxbladder by the large healthcare organisations which will be drivers of success
in our business. Gaining inclusion in the Local Coverage Determination remains a priority.”

Chairman Chris Gallaher said that the Board remained committed to the company’s strategy and to achieving the key
milestone of cashflow breakeven.

“The impact Cxbladder makes for the large healthcare providers that have burgeoning patient needs, few resources and
need to show value changes for their clinical services, is very clear. We are looking forward to successfully executing on
the next phase of our global growth plan as we continue to progress our objective of taking Cxbladder to the world.”



4
Annual fixed deductible is the amount a patient must pay before their insurance cover commences and they start to undertake the
medically recommended actions and treatments for which they will be reimbursed by their insurance company.

5
The company’s estimate for laboratory throughput for FY19 is expected to fall within a range of 16,000 and 17,000 tests

4
Capital Raising

Pacific Edge intends to undertake a placement of new shares at $0.35 to raise up to $7 m. The placement will occur today
while Pacific Edge is in trading halt, with participants including a range of institutional investors. Following completion of
the placement, a Share Purchase Plan (SPP) of up to $5 m will allow each New Zealand resident shareholder to subscribe
for additional shares at no greater than the placement price ($0.35). The full terms and conditions of the SPP will be
contained in an offer document which will be distributed to all eligible shareholders after the proposed record date.

Placement Timetable
Pacific Edge in trading halt 29 November
Placement undertaken 29 November
Pacific Edge expected to resume trading 30 November
Allotment and Settlement of placement shares 5 December

Share Purchase Plan Timetable
Record Date of SPP 7 December
Opening Date for SPP 10 December
Closing Date for SPP 25 January 2019
Allotment and Settlement of SPP shares 31 January 2019

All dates and times are indicative only and subject to change.

ENDS

For more information contact:

David Darling
Chief Executive Officer
Pacific Edge Ltd
P: +64 (3) 479 5800

OVERVIEW www.pacificedge.co.nz www.pacificedgedx.com
Pacific Edge Limited (NZX: PEB) is a New Zealand publicly listed, cancer diagnostic company specialising in the discovery and
commercialisation of diagnostic and prognostic tests for better detection and management of cancer. Its Cxbladder suite of non-invasive,
simple to use and accurate diagnostic tests provide actionable results, and better detection and management of urothelial cancer. The
company is developing and commercialising its range of Cxbladder bladder cancer tests globally through its wholly owned central laboratories
in New Zealand and the USA. The company’s products have been tested and validated in international multi-centre clinical studies.

ABOUT Cxbladder Triage www.cxbladder.com
Cxbladder Triage combines the power of the genomic biomarkers with additional phenotypic and clinical risk factors to accurately identify
patients with haematuria who have a low probability of bladder cancer and may not require a more extensive urological evaluation.
Cxbladder Triage is a tool for use by clinicians and physicians in primary evaluation of patients
with haematuria and is intended to reduce the need for an expensive and invasive work-up in patients who have a low probability of having
urothelial carcinoma.

ABOUT Cxbladder Detect www.cxbladder.com
Cxbladder Detect enables the non-invasive detection of bladder and other urinary tract cancers from a small volume of a patients’ urine.
Cxbladder Detect provides clinicians with a quick, cost effective and accurate measure of the presence of the cancer as an effective adjunct
to cystoscopy.

ABOUT Cxbladder Monitor www.cxbladder.com
Cxbladder Monitor allows urologists to monitor bladder cancer patients for recurrence of the disease. Bladder cancer has a recurrence rate
of 50-80% and requires life-long surveillance. Cxbladder Monitor accurately identifies patients with a prior history of urothelial cancer (UC)
whose Cxbladder Monitor score shows that they have a low probability of recurrent urothelial carcinoma. Cxbladder Monitor is designed to
be used as the preferred adjunct test to cystoscopy in the management of patients for ongoing evaluation of recurrent bladder cancer.

5
ABOUT Cxbladder Resolve www.cxbladder.com
Cxbladder Resolve identifies those patients who are likely to have aggressive or more advanced bladder cancer. Cxbladder Resolve, when
used as part of the primary evaluation of haematuria and/or in conjunction with other Cxbladder tests (Triage, Detect), is designed to assist
clinicians by accurately identifying patients with a high probability of having high grade or late stage bladder cancer, for whom alternative or
expedited treatment options may be warranted, or who can be prioritised for further investigation in high throughput settings.

Refer to www.cxbladder.com for more information.

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INTERIM
FINANCIAL
STATEMENTS
FOR THE SIX MONTHS
ENDED 30 SEPTEMBER 2018

PACIFIC EDGE LIMITED INTERIM REPORT 2018PACIFIC EDGE LIMITED INTERIM REPORT 2018
Note: These Statements are to be read in conjunction with the Notes to the Financial Statements.
FOR THE SIX MONTHS ENDED 30 SEPTEMBER 2018
STATEMENT OF COMPREHENSIVE INCOME
NOTES
UNAUDITED
SEPT 2018
6 MONTHS
($000)
UNAUDITED
SEPT 2017
6 MONTHS
($000)
RESTATED
AUDITED
MARCH 2018
12 MONTHS
($000)
REVENUE
Operating Revenue 5 2,033 1,425 3,400
Total Operating Revenue 2,033 1,425 3,400
Other Income5 442 538 1,242
Interest Income 169 81 231
Foreign Exchange (Loss)/Gain (5) 8 129
Total Revenue and Other Income 2,639 2,052 5,002
OPERATING EXPENSES
Laboratory Operations 2,356 2,289 4,619
Research 1,666 2,156 4,384
Sales and Marketing 4,434 4,401 9,436
General & Administration 2,902 3,245 6,207
Total Operating Expenses6 11,358 12,091 24,646
NET (LOSS) BEFORE TAX (8,719) (10,039) (19,644)
Income Tax Expense- - -
(LOSS) FOR THE YEAR AFTER TAX (8,719) (10,039) (19,644)
Translation of Foreign Operations 1 (26) (83)
TOTAL COMPREHENSIVE (LOSS) atttributable
to equity holders of the Company
(8,718) (10,065) (19,727)
Earnings per share for (loss) attributable to the
equity holders of the Company during the year
Basic and Diluted Earnings per share (0.019) (0.024) (0.045)
Interim Financial Statements
Statement of Comprehensive Income 3
Statement of Changes in Equity 4
Balance Sheet 6
Statement of Cash Flows 7
Notes to the Financial Statements
1. Summary of Accounting Policies 8
2. Investment and Advances in Subsidiaries 9
3. Dividends 9
4. Restatement 10
5. Revenue 12
6. Operating Expenses 13
7. Segment Information 14
8. Share Capital 17
9. Reconciliation of Cash used from Operating
Activities with Operating Net Loss 18
10. Contingent Liabilities 18
11. Capital Commitments 18
12. Subsequent Events 18
13. Going Concern 19
3 2

PACIFIC EDGE LIMITED INTERIM REPORT 2018PACIFIC EDGE LIMITED INTERIM REPORT 2018
Note: These Statements are to be read in conjunction with the Notes to the Financial Statements.
FOR THE SIX MONTHS ENDED 30 SEPTEMBER 2018
STATEMENT OF CHANGES IN EQUITY
NOTES
SHARE
CAPITAL
RETAINED
EARNINGS
SHARE BASED
PAYMENTS
RESERVE
FOREIGN CURRENCY
TRANSLATION
RESERVE
TOTAL
EQUITY
($000)($000)
RESTATED
($000)($000)
RESTATED
($000)
RESTATED
UNAUDITED 6 MONTHS TO SEPT 2017
Balance as at 31 March 2017
111,596 (94,507) 2,889 851 20,829
Adjustment on adoption of NZ IFRS 15 (net of tax)4- (5,968)- 112 (5,856)
Restated Balance as at 31 March 20174 111,596 (100,475) 2,889 963 14,973
Loss After Tax (as restated)- (10,039)- - (10,039)
Other Comprehensive Income (as restated)- - - (26) (26)
TOTAL COMPREHENSIVE (LOSS) atttributable to equity holders of the Company- (10,039)- (26) (10,065)
Transactions with owners in their capacity as owners:
Issue of Share Capital (net of expenses)- - ---
Exercise of Employee Share Options 112 - (18)- 94
Share Based Payments-Employee Remuneration 80 - -- 80
Share Based Payment-Employee Share Options- - 140 - 140
Balance as at 30 September 2017 111,788 (110,515) 3,011 937 5,222
AUDITED 12 MONTHS TO 31 MARCH 2018
Balance as at 31 March 2017 111,596 (100,475) 2,889 963 14,973
Loss after tax- (19,644)-- (19,644)
Other Comprehensive Income- - - (83) (83)
TOTAL COMPREHENSIVE (LOSS) atttributable to equity holders of the Company- (19,644)- (83) (19,727)
Transations with owners in their capacity as owners:
Issue of Share Capital (net of expenses)8 20,020 - -- 20,020
Exercise of Employee Share Options 112 - (18)- 94
Share Based Payments-Employee Remuneration 96 - -- 96
Share Based Payment-Employee Share Options- - 1,184 - 1,184
Balance as at 31 March 2018 131,824 (120,119) 4,055 880 16,640
UNAUDITED 6 MONTHS TO SEPT 2018
Balance as at 31 March 2018 131,824 (120,119) 4,055 880 16,640
Loss after tax- (8,719)-- (8,719)
Other Comprehensive Income- - - 1 1
TOTAL COMPREHENSIVE (LOSS) atttributable to equity holders of the Company- (8,719)- 1 (8,718)
Transations with owners in their capacity as owners:
Issue of Share Capital (net of expenses)8 2,600 - -- 2,600
Share Based Payment-Employee Remuneration88 - -- 88
Share Based Payment-Employee Share Options- - 284 - 284
Balance as at 30 September 2018 134,512 (128,838) 4,339 881 10,894
5 4

PACIFIC EDGE LIMITED INTERIM REPORT 2018PACIFIC EDGE LIMITED INTERIM REPORT 2018
Note: These Statements are to be read in conjunction with the Notes to the Financial Statements.
For and on behalf of the Board of DirectorsDirector Director
Dated 29th day of November 2018
AS AT 30 SEPTEMBER 2018
BALANCE SHEET
NOTES
UNAUDITED
SEPT 2018
6 MONTHS
UNAUDITED
SEPT 2017
6 MONTHS
AUDITED
MARCH 2018
12 MONTHS
($000)($000)
RESTATED
($000)
CURRENT ASSETS
Cash and Cash Equivalents 4,560 3,997 5,242
Short Term Deposits 5,500 - 11,000
Receivables 836 991 1,064
Inventory 846 1,014 752
Other Assets 912 643 472
Total Current Assets 12,654 6,645 18,530
NON-CURRENT ASSETS
Property, Plant & Equipment 876 942 854
Intangible Assets 273 346 281
Total Non-Current Assets 1,149 1,288 1,135
TOTAL ASSETS 13,803 7,933 19,665
CURRENT LIABILITIES
Payables and Accruals 2,771 2,589 2,926
Finance Leases 90 69 73
Total Current Liabilities 2,861 2,658 2,999
NON-CURRENT LIABILITIES
Finance Leases 48 54 26
Total Non-Current Liabilities 48 54 26
TOTAL LIABILITIES 2,909 2,712 3,025
NET ASSETS 10,894 5,221 16,640
Represented by:
EQUITY
Share Capital8 134,512 111,788 131,824
Accumulated Losses (128,838) (110,515) (120,119)
Share Based Payments Reserve 4,339 3,011 4,055
Foreign Translation Reserve 881 937 880
TOTAL EQUITY 10,894 5,221 16,640
FURTHER INFORMATION:
Return on Assets (%)(63%)(127%)(100%)
Return on Equity (%)(80%)(192%)(119%)
Debt to Equity Ratio (%)27%52%18%
Net Tangible Assets Per Share ($) 0.022 0.012 0.035
Note: These Statements are to be read in conjunction with the Notes to the Financial Statements.
FOR THE SIX MONTHS ENDED 30 SEPTEMBER 2018
STATEMENT OF CASH FLOWS
NOTES
UNAUDITED
SEPT 2018
6 MONTHS
UNAUDITED
SEPT 2017
6 MONTHS
AUDITED
MARCH 2018
12 MONTHS
($000)($000)($000)
CASH FLOWS TO OPERATING
ACTIVITIES
Cash was provided from:
Receipts from Customers 2,026 1,655 3,420
Receipts from Grant Providers 663 225 944
Interest Received 250 82 115
2,939 1,962 4,479
Cash was disbursed to:
Payments to Suppliers & Employees 11,610 12,101 22,575
Net GST change (59) 46 4
11,551 12,147 22,579
Net Cash Flows To Operating Activities9 (8,612) (10,185) (18,100)
CASH FLOWS FROM INVESTING
ACTIVITIES:
Cash was provided from:
Proceeds from Short Term Deposits 5,500 8,000 8,000
5,500 8,000 8,000
Cash was disbursed to:
Purchase of Short Term Deposits - - 11,000
Capital Expenditure on Plant and
Equipment
19 153 195
Capital Expenditure on Intangible Assets 71 106 140
90 259 11,335
Net Cash Flows From Investing Activities 5,410 7,741 (3,335)
CASH FLOWS FROM FINANCING
ACTIVITIES:
Cash was received from:
Ordinary Shares Issued 2,623 94 21,414
2,623 94 21,414
Cash was disbursed to:
Repayment of Finance Leases 43 17 59
Issue Expenses 23 - 1,298
66 17 1,357
Net Cash Flows From Financing Activities 2,557 77 20,057
Net (Decrease) in Cash Held (645) (2,367) (1,378)
Add Opening Cash Brought Forward 5,242 6,564 6,564
Effect of Exchange Rate Changes on Net
Cash
(37) (200) 56
Ending Cash Carried Forward 4,560 3,997 5,242
7 6

PACIFIC EDGE LIMITED INTERIM REPORT 2018PACIFIC EDGE LIMITED INTERIM REPORT 2018
FOR THE SIX MONTHS ENDED 30 SEPTEMBER 2018
NOTES TO THE FINANCIAL STATEMENTS
1 . SUMMARY OF ACCOUNTING POLICIES
The unaudited interim financial statements (“Interim Financial Statements”) presented
are those of Pacific Edge Limited (“the Company”) and its subsidiaries (“the Group”).
The Company is registered and domiciled in New Zealand for the purpose of developing
and commercialising new diagnostic and prognostic tools for the early detection and
management of cancers. Pacific Edge Diagnostics New Zealand Limited and Pacific Edge
Diagnostics USA Limited are sales and marketing entities which also manage and operate
the laboratories used for the detection of bladder cancer. Pacific Edge Pty Limited’s
purpose is to research and develop the Cxbladder product and other prognostic tools.
Pacific Edge Diagnostics Singapore Pte Limited is a sales and marketing entity and Pacific
Edge Analytical Services Limited is a dormant entity.
The Company is a for-profit entity for the purposes of complying with Generally Accepted
Accounting Practices, registered in New Zealand under the Companies Act 1993 and is a
reporting entity for the purposes of the Financial Markets Conduct Act 2013. The Company
is listed with NZX Limited with its ordinary shares quoted on the NZX Main Board.
(a) Basis of Preparation of Financial Statements
The Interim Financial Statements for the six months ended 30 September 2018 have been
prepared in accordance with the requirements of the NZX Main Board Listing Rules.
The Interim Financial Statements have been prepared in accordance with NZ IAS 34 - Interim
Financial Reporting. In complying with NZ IAS 34, these consolidated Interim Financial
Statements also comply with IAS 34 - Interim Financial Reporting and should be read in
conjunction with the Company’s 2018 Annual Report.
The Interim Financial Statements are prepared on the basis of historical cost, except where
otherwise identified. The presentation currency used in the preparation of the financial
statements is New Zealand dollars and all values are rounded to the nearest thousand
dollars ($000).
(b) Accounting Policies
The Group has adopted NZ IFRS 9 Financial Instruments in the 2019 financial year. This has
not had a material impact on the financial statements.
All other accounting policies have been applied on a basis consistent with those used in the
audited financial statements of Pacific Edge Limited for the year ended 31 March 2018.
(c) Restatement of Comparatives
The Group made the decision to adopt NZ IFRS 15 (Revenue from Contracts with Customers)
at the end of the 2018 financial year. This has impacted previously reported revenue and
receivables balances and resulted in a restatement of comparatives in these interim financial
statements. Please refer to note 4 for further details or note 2 in the 2018 Annual Financial
Statements.
(d) Authorisation
The Interim Financial Statements were authorised by the Board of Directors on 29 November
2018.
(e) Audit
The Interim Financial Statements for 2017 and 2018 have not been audited. The comparative
full year financial results for the year ended 31 March 2018 have been audited.
(f) Basis of Consolidation
The following entities and the basis of their inclusion for consolidation in these Interim
Financial Statements are as follows:
Ownership Interests
& Voting Rights
Name of Subsidiary
Place of
Incorporation
(or registration)
and Operation
Principal Activity
30 Sept
2018
(%)
30 Sept
2017
(%)
Pacific Edge Diagnostics
New Zealand Limited
New Zealand
Sales, Marketing,
Commercial Laboratory
100100
Pacific Edge Pty LimitedAustralia
Biotechnology Research
& Development
100100
Pacific Edge Diagnostics
USA Limited
USA
Sales, Marketing,
Commercial Laboratory
100100
Pacific Edge Analytical
Services Limited
New ZealandDormant Company100100
Pacific Edge Diagnostics
Singapore Pte Limited
SingaporeSales & Marketing100100
2. INVESTMENT AND ADVANCES IN SUBSIDIARIES
The Interim Financial Statements incorporate the assets and liabilities and results of Pacific
Edge Diagnostics New Zealand Limited, Pacific Edge Diagnostics USA Limited, Pacific Edge
Diagnostics Singapore Pte Limited, Pacific Edge Analytical Services Limited and Pacific
Edge Pty Limited, all of which are 100% owned by the Company. Subsidiaries have a 31
March balance date. The investments in and advances to subsidiaries are eliminated on
consolidation in the Group financial statements.
3. DIVIDENDS
The Company does not propose to pay dividends to shareholders similar to previous years.
FOR THE SIX MONTHS ENDED 30 SEPTEMBER 2018
NOTES TO THE FINANCIAL STATEMENTS
9 8

PACIFIC EDGE LIMITED INTERIM REPORT 2018PACIFIC EDGE LIMITED INTERIM REPORT 2018
4. RESTATEMENT
NZ IFRS 15: Revenue from contracts with customers (NZ IFRS 15)
The Group previously reported in the Financial Statements for the year ended 31 March
2018 it had early adopted NZ IFRS 15 from 1 April 2017 which resulted in changes in
accounting policies and adjustments to the amounts recognised in the financial statements.
In accordance with the transition provisions in NZ IFRS 15, the Group adopted the new
rules retrospectively and has restated comparatives for the 2017 financial year. None of the
available practical expedients have been applied.
Following its initial assessment of NZ IFRS 15 in 2017, the Group previously indicated that
there would not be a significant impact on the financial statements from the adoption of
this standard. This assessment was based on the expected completion of large customer
agreements during FY18, in particular inclusion in the Local Coverage Determination (LCD)
with the Centers for Medicare and Medicaid (CMS) and signing a commercial contract with
Kaiser Permanente. As these agreements were not concluded during FY18, the Group
reassessed the impact of NZ IFRS 15 and decided that the adoption of this standard
would have a significant impact on the recognition of revenue relating to Cxbladder tests
undertaken for US customers. There is no material impact for contracts with customers not
based in the US.
The Group presented the FY18 Interim Financial Statements on the basis it was not intending
to adopt NZ IFRS 15 from 1 April 2017. Due to this significant impact on the Group’s reported
financial results, the Group subsequently decided it was appropriate to early adopt NZ IFRS
15. An explanation of the change in revenue recognition can be found in Note 2 of the
2018 Annual Financial Statements. The tables below outline the changes required to the
previously reported comparative Interim Financial Statements from 30 September 2017.
Impact of NZ IFRS 15 on Previously Reported Financial Results
The specific financial statement line items affected by the change to the accounting policy
for revenue recognition are shown below. The 31 March 2017 balance sheet adjustments
were disclosed in the 31 March 2018 financial statements. These have been included again
here for transparency of movements.
Opening Balance Sheet
31 March 2017
2017
Previously
Reported
AdjustmentTransition
Adjustment
2017
($000)($000)
(i)
($000)($000)
RESTATED
Balance Sheet
Accounts Receivable 6,519 (290) (5,566) 663 a
Total Current Assets 22,397 (290) (5,566) 16,541 a
Total Assets 23,563 (290) (5,566) 17,707 a
Net Assets 20,829 (290) (5,566) 14,973 a
Accumulated Losses (94,507) (284) (5,684) (100,475)c
Foreign Translation Reserve 851 6 106 963 b
Total Equity 20,829 (290) (5,566) 14,973 a
FOR THE SIX MONTHS ENDED 30 SEPTEMBER 2018
NOTES TO THE FINANCIAL STATEMENTS
(i) This adjustment represents the correction of the FY15 incorrect application of the accounting policy and the
restated foreign currency impact.
a) The transition adjustments reduce accounts receivable at 31 March 2017 to remove all previously
recognised Cxbladder tests trade receivables from the period that cannot be recognised under NZ IFRS 15.
b) Represents the foreign currency translation adjustment relating to adjustments a) above.
c) Reflects the net of adjustments a) and b) above.
Statement of Comprehensive Income for the six months ended 30 September 2017
The specific financial statement line items affected by the change to the accounting policy
for revenue recognition are as follows:
For the 6 months ended
30 September 2017
2017
Previously
Reported
AdjustmentTransition
Adjustment
2017
($000)($000)
(ii)
($000)($000)
RESTATED
Operating Revenue 4,225 - (2,800) 1,425 a
Total Operating Revenue 4,225 - (2,800) 1,425 a
Total Revenue 4,852 - (2,800) 2,052 a
General & Administration 4,671 - (1,426) 3,245 b
- Bad Debts 674 (277) (397) - b
- Doubtful Debts 752 - (752) - b
Total Operating Expenses 13,517 (277) (1,149) 12,091 b
Net Loss Before Tax (8,665) (277) (1,097) (10,039)c
Loss for the year after Tax (8,665) (277) (1,097) (10,039)c
Translation of Foreign
Operations
(220) 4 190 (26)d
Total Comprehensive Loss (8,885) (273) (907) (10,065)e
Basic and Diluted Earnings per
Share ($)
(0.022) (0.000) (0.002) (0.024)e
(ii) This adjustment represents the correction of the previously recognised FY15 revenue that was written off in FY17
including the related foreign currency impact.
a) US Cxbladder test revenue has reduced with the change in policy to a cash receipts basis.
b) The bad and doubtful debts expense recognised for trade receivables relating to US Cxbladder tests has
been reversed.
c) Reflects the net of adjustments a) and b) above.
d) Represents the foreign currency translation adjustment relating to adjustments a) and b) above.
e) The adjustment to total comprehensive loss and included in the calculation for basic and diluted earnings
per share is the net of adjustments c) and d) above.

FOR THE SIX MONTHS ENDED 30 SEPTEMBER 2018
NOTES TO THE FINANCIAL STATEMENTS
11 10

PACIFIC EDGE LIMITED INTERIM REPORT 2018PACIFIC EDGE LIMITED INTERIM REPORT 2018
Reclassification of Expenditure
Expenses within the Statement of Comprehensive Income have been reclassified from the
previously reported Interim Financial Statements for the six months ended 30 September
2017. The expenses from the six months ended 30 September 2018 have been prepared on
this new basis. The expenses for the year ended 31 March 2018 are consistent with what
was previously reported in the 31 March 2018 financial statements. The reclassification has
been made to better represent the nature of the costs as the business evolves to allow for
improved comparability.
These reclassifications do not change the total expenses recognised for the six months
ended 30 September 2017. However, total expenses for the 2017 half year have changed
as a result of the implementation of NZ IFRS 15, which is further explained in Note 4 above.
The following reclassifications have been made for the six months ended 30 September 2017:
• Employee benefits, including salaries, wages, superannuation and health and disability
plans, previously included in other expenditure and totalling $3,262,000, have been re-
allocated to the functional areas as follows:
• Laboratory Operations: $700,000
• Sales and Marketing: $2,562,000
• Overhead expenditure, previously included in Other Expenses, totalling $2,195,000 has
been re-allocated to the functional areas as follows:
• Laboratory Operations: $971,000
• Research: $397,000
• Sales and Marketing: $827,000
5. REVENUE
Unaudited
Sept 2018
6 Months
($000)
Unaudited
Sept 2017
6 Months
($000)
Audited
March 2018
12 Months
($000)
Cxbladder Sales
- US1,8371,2743,188
- Rest of World196151212
Total Operating Revenue 2,0331,4253,400
Other Income
Grant Income352417853
Research Rebate Received90121389
Total Other Income4425381,242
FOR THE SIX MONTHS ENDED 30 SEPTEMBER 2018
NOTES TO THE FINANCIAL STATEMENTS
6. OPERATING EXPENSES
Unaudited
Sept 2018
6 Months
($000)
Unaudited
Sept 2017
6 Months
($000)
RESTATED
Audited
March 2018
12 Months
($000)
Operating Expenses
Amortisation 79 90 188
Auditors Remuneration - Audit Fees 118 56 89
- Other Assurance Services (refer below) 3 9 26
Depreciation 116 179 316
Directors Fees 136 137 275
Employee Benefits 5,184 5,773 11,129
Employee Share Scheme Expenses 88 80 96
Employee Share Options 284 141 1,184
Rental and Lease Expense 594 544 1,136
Other Operating Expenses 4,756 5,082 10,207
Total Operating Expenses 11,358 12,091 24,646
Other Assurance Services
Other assurance services performed by the auditor includes; agreed upon procedures,
review procedures and a review of the Callaghan Innovation Growth Grant claim.
Employee Share Scheme Expenses
Employee Share Scheme Expenses are a non-cash expense. These relate to shares issued to
employees in lieu of cash bonuses.
Employee Share Options
Employee Share Options are a non-cash expense. Refer to Note 10 of the annual report for
details of the accounting policy for Employee Share Schemes.
Other Operating Expenses
The major categories of expenditure which make up operating expenses, but are not disclosed
separately above include Laboratory costs, Information Technology costs, Compliance
and Regulatory costs, NZX and Registry fees, Investor Relations costs, Consultants and
Contractors.
FOR THE SIX MONTHS ENDED 30 SEPTEMBER 2018
NOTES TO THE FINANCIAL STATEMENTS
13 12

PACIFIC EDGE LIMITED INTERIM REPORT 2018PACIFIC EDGE LIMITED INTERIM REPORT 2018
7. SEGMENT INFORMATION
Operating segments are reported in a manner consistent with the internal reporting
provided to the chief operating decision-maker. The chief operating decision-maker, who is
responsible for allocating resources and assessing performance of the operating segments,
has been identified as the Chief Executive Officer who makes strategic decisions.
There are two operating segments at balance date:
1. Commercial: The sales, marketing, laboratory and support operations to run the
commercial businesses worldwide
2. Research: The research and development of diagnostic and prognostic products for
human cancer.
The reportable operating segment Commercial derives its revenue primarily from sales
of Cxbladder detection tests and the reportable operating segment Research derives its
revenue primarily from grant income. The Chief Executive Officer assesses the performance
of the operating segments based on net (loss) for the period.
Segment income, expenses and profitability are presented on a gross basis excluding inter-
segment eliminations to best represent the performance of each segment operating as
independent business units. The segment information provided to the Chief Executive
Officer for the reportable segment described above, for the period ended 30 September
2018, is shown below.
Unaudited 6 Months
to 30 September 2018
Commercial
($000)
Research
($000)
Less:
Eliminations
($000)
Total
External
Income
($000)
Income
Operating Revenue - External 2,033 - - 2,033
- Internal 76 - (76) -
Other Income 41 577 (176) 442
Interest Income 2 167 - 169
Foreign Exchange Gain - (4) (1) (5)
Total Income 2,152 740 (253) 2,639
Expenses
Expenses 7,348 4,068 (253) 11,163
Depreciation & Amortisation 66 129 - 195
Total Operating Expenses 7,414 4,197 (253) 11,358
Loss Before Tax (5,262) (3,457) - (8,719)
Net Cash Flow to Operating Activities (5,506) (3,106) - (8,612)
FOR THE SIX MONTHS ENDED 30 SEPTEMBER 2018
NOTES TO THE FINANCIAL STATEMENTS
Audited 12 Months
31 March 2018
Commercial
($000)
Research
($000)
Less:
Eliminations
($000)
Total
External
Income
($000)
Income
Operating Revenue - External 3,400 - - 3,400
- Internal 154 - (154) -
Other Income 127 2,137 (1,022) 1,242
Interest Income 2 3,158 (2,929) 231
Foreign Exchange Gain - 129 - 129
Total Income 3,683 5,424 (4,105) 5,002
Expenses
Expenses 18,834 9,413 (4,105) 24,142
Depreciation & Amortisation 191 313 - 504
Total Operating Expenses 19,025 9,726 (4,105) 24,646
Loss Before Tax (15,342) (4,302) - (19,644)
Net Cash Flow to Operating Activities (14,072) (4,028) - (18,100)
Unaudited 6 Months
30 September 2017 (RESTATED)
Commercial
($000)
Research
($000)
Less:
Eliminations
($000)
Total
External
Income
($000)
Income
Operating Revenue - External 1,425 - - 1,425
- Internal 47 - (47) -
Other Income 94 745 (301) 538
Interest Income - 81 - 81
Foreign Exchange Gain - 8 - 8
Total Income 1,566 834 (348) 2,052
Expenses
Expenses 7,810 4,360 (348) 11,822
Depreciation & Amortisation 122 147 - 269
Total Operating Expenses 7,932 4,507 (348) 12,091
Loss Before Tax (6,366) (3,673) - (10,039)
Net Cash Flow to Operating Activities (6,362) (3,823) - (10,185)
Eliminations
These are the intercompany transactions between the subsidiaries and the Parent. These
are eliminated on consolidation of Group results.
FOR THE SIX MONTHS ENDED 30 SEPTEMBER 2018
NOTES TO THE FINANCIAL STATEMENTS
15 14

PACIFIC EDGE LIMITED INTERIM REPORT 2018PACIFIC EDGE LIMITED INTERIM REPORT 2018
Segment Assets and Liabilities Information:
As at 30 September 2018
Commercial
($000)
Research
($000)
Total
($000)
Total Assets 2,493 11,310 13,803
Total Liabilities 2,100 809 2,909

As at 31 March 2018
Commercial
($000)
Research
($000)
Total
($000)
Total Assets 1,977 17,688 19,665
Total Liabilities 1,917 1,108 3,025
As at 30 September 2017
(RESTATED)
Commercial
($000)
Research
($000)
Total
($000)
Total Assets 2,070 5,863 7,933
Total Liabilities 1,570 1,142 2,712
Sales between segments are carried out at arm’s length. Post adoption of NZ IFRS 15,
the revenue from external parties reported to the Chief Executive Officer is measured in a
manner consistent with that in the Statement of Comprehensive Income.
Total Laboratory Throughput:
Commercial
(#tests)
Research
(#tests)
Total
(#tests)
Six months to 30 September 2018 6,078 1,319 7,397
Twelve months to 31 March 2018 11,866 2,582 14,448
Six months to 30 September 2017 5,439 1,680 7,119
Laboratory Throughput is a key metric for the Group: Laboratory Throughput provides
evidence of the increasing usage of Cxbladder products globally and the rates of adoption
between different customer segments. Total laboratory throughput includes billable/
commercial tests, which are invoiced to customers (including CMS tests), and tests which
are not considered to be billable as these tests relate to user programs or other non-
chargeable activities.
Billable/commercial test numbers are also a key metric for the Group: the tests are those
for which the Company is actively seeking reimbursement and cash receipts. Given the
time lag in the US between processing a Cxbladder test and receiving the associated cash
receipts, reported revenue based on the application of our accounting policy and billable
tests do not correlate in the same time period with one another. Billable test numbers also
include tests for CMS patients, which are all invoiced to CMS but for which revenue is not
being recognised.
Note that the Commercial and Research split shown above is reflective of the Billable/
Non-Billable split of laboratory throughput. Therefore the total of the Commercial tests
equals the total of the billable tests and all Research tests shown above are non-billable.
Non-billable tests may however be commercial in nature (ie. will lead to a commercial
relationship).
Additions to non-current assets for the period include:
Commercial
($000)
Research
($000)
Total
($000)
Property, Plant & Equipment 80 25 105
Intangible Assets - 71 71
Total Additions to Non Current Assets 80 96 176
The amounts provided to the Chief Executive Officer with respect to total assets and total
liabilities are measured in a manner consistent with that of the financial statements. These
assets and liabilities are allocated based on the operation of the segment and the physical
location of the asset.
There are no unallocated assets or liabilities.
8. SHARE CAPITAL
Sept 2018
6 Months
Shares (000)
Unaudited
Sept 2018
6 Months
($000)
Unaudited
Sept 2017
6 Months
($000)
Audited
March 2018
12 Months
($000)
Opening Balance 466,322 131,824 111,596 111,596
Issue of Ordinary Shares - Rights Issue
and Direct Offers
8,195 2,623 - 21,318
Issue of Ordinary Shares - Exercise of
Share Options
- - 112 112
Issue of Ordinary Shares - Employee
Remuneration
275 88 80 96
Less: Issue Expenses - (23) - (1,298)
Movement 8,470 2,688 192 20,228
Closing Balance 474,792 134,512 111,788 131,824
There are 474,792,378 (March 2018: 466,321,801 and September 2017: 399,704,401) Ordinary
Shares on issue.
All fully paid shares in the Company have equal voting rights and equal rights to dividends.
All Ordinary Shares are fully paid and have no par value.
FOR THE SIX MONTHS ENDED 30 SEPTEMBER 2018
NOTES TO THE FINANCIAL STATEMENTS
FOR THE SIX MONTHS ENDED 30 SEPTEMBER 2018
NOTES TO THE FINANCIAL STATEMENTS
17 16

PACIFIC EDGE LIMITED INTERIM REPORT 2018PACIFIC EDGE LIMITED INTERIM REPORT 2018
9. RECONCILIATION OF CASH USED FROM OPERATING ACTIVITIES WITH
OPERATING NET LOSS
Sept 2018
6 Months
($000)
Sept 2017
6 Months
($000)
RESTATED
March 2018
12 Months
($000)
Net Loss for the Period (8,719) (10,039) (19,644)
Add Non Cash Items:
Depreciation 116 179 316
Loss on Disposal of Property, Plant and Equipment - - 10
Amortisation 79 90 188
Employee Share Options 284 141 1,184
Employee Bonuses Paid in Shares in Lieu of Cash 88 80 96
Effect of Exchange Rates on Net Cash 6 (9) (131)
Total Non Cash Items 573 481 1,663
Add Movements in Other Working Capital items:
(Increase) in Receivables and Other Assets (80) (292) (383)
(Increase)/Decrease in Inventory (94) (190) 72
(Decrease)/Increase in Payables and Accruals (292) (145) 192
Total Movement in Other Working Capital (466) (627) (119)
Net Cash Flows to Operating Activities (8,612) (10,185) (18,100)
10. CONTINGENT LIABILITIES
There were no known contingent liabilities at 30 September 2018 (March 2018: Nil and
September 2017: Nil). The Company and Group have not granted any securities in respect
of liabilities payable by any other party whatsoever.
11. CAPITAL COMMITMENTS
There are no capital commitments at 30 September 2018 (March 2018: Nil and September
2017: Nil).
12. SUBSEQUENT EVENTS
New Capital
The Company announced on the 29th of November 2018 that it is completing a private
placement to new and existing shareholders. This private placement is expected to result
in additional capital for the Company of up to $7m. The Company also announced on the
same day a Share Purchase Plan to raise up to $5m of capital from existing shareholders.
The Share Purchase Plan has not been underwritten and is expected to open in December
2018 and close in January 2019.
FOR THE SIX MONTHS ENDED 30 SEPTEMBER 2018
NOTES TO THE FINANCIAL STATEMENTS
National Pricing for CMS
On the 12th of October 2018, the Company announced that the preliminary national CMS
reimbursement rate of US$760 per Cxbladder test had been publicly notified. This pricing
was finalised during November 2018 and takes effect from 1 January 2019. Obtaining the
pricing is the second of three steps to enable the Company to be reimbursed by CMS for
Cxbladder tests performed for CMS patients. The third and final step is the inclusion of
Cxbladder in the Local Coverage Determination (LCD) which the Company continues to
work towards achieving.
13. GOING CONCERN
The Interim Financial Statements have been prepared on the going concern basis which
assumes that the Company will have sufficient cash to pay its debts as they fall due for a
minimum of 12 months from the signing of the Interim Financial Statements.
As at 30 September 2018, the Company had $10.060m of cash and cash equivalents on
hand (2017: $3.997m) and net assets of $10.894m (2017: $5.221m). Cash receipts totalling
$2.939m were received in the six month period to 30 September 2018 (2017: $1.962m) along
with additional capital of $2.623m (2017: $94k). Net cash out flows from operating activities
for the six month period to 30 September 2018 were $8.612m (2017: $10.185m).
While the Company continues to incur operating losses, the Company remains solvent and
continues to pay its debts as they fall due. The Company continues to progress commercial
negotiations with targeted large scale health organisations in the USA and whilst these
negotiations are taking longer than expected to complete, the Company continues to
make good progress with these negotiations. The new contracts that will result from these
commercial negotiations will have a significant positive impact on the Company’s financial
position once they are concluded.
The Company has prepared cash flow forecasts which indicates that if these commercial
negotiations continue to be delayed, the Company may not have sufficient cash to meet its
minimum expenditure commitments and support its current levels of activity. The Company
may therefore need to raise additional funds to continue as a going concern.
To address the future additional funding requirements of the Company, the Directors have:
- Entered into discussions to secure additional equity funding from current or new
shareholders,
- Continued to monitor the Company’s ongoing working capital requirements and
minimum expenditure commitments, and
- Continued to focus on maintaining an appropriate level of expenditure in line with the
Company’s available cash resources.
The Directors are confident that they will be able to obtain additional equity funding to
enable the Company to meet its minimum expenditure requirements and support its planned
level of expenditure. However, in the event that the Company is not able to successfully
complete the fundraising, a material uncertainty may exist which may cast significant doubt
on the Company’s ability to continue as a going concern with the current capital and cost
structures.
FOR THE SIX MONTHS ENDED 30 SEPTEMBER 2018
NOTES TO THE FINANCIAL STATEMENTS
19 18

87 St David Street, PO Box 56, Dunedin, New Zealand
P +64 3 479 5800 F +64 3 479 5801
www.pacificedgedx.com

---

FY19 INTERIM RESULT AND CAPITAL RAISE
PRESENTATION
29 November 2018

Pacific Edge FY19 Half Year Result and Capital Raise Presentation
Our goals are to enable better patient care,
better clinical decision making and better
use of healthcare resources by providing
faster, more accurate and less invasive
diagnosis and management of bladder
cancer
CXBLADDER
BETTER SOLUTIONS
BETTER CARE

Pacific Edge FY19 Half Year Result and Capital Raise Presentation
HAEMATURIA AND BLADDER CANCER
The US opportunity dominates our commercial focus
Pacific Edge’s
addressable market in
the USA alone has been
calculated to be worth
up to US$1.2 billion per
annum.
Validated by EY-Parthenon review*
Slide 3
Approx. 7 million
people present with
haematuria annually
in the USA
79,000+ new bladder
cancer cases in USA
every year
9
th
most common
cancer in the world;
4
th
most common in
men
70% recurrence rate
leads to many clinical
procedures
Highest medical cost
of any cancer; up to
US$240k per patient
lifetime
Pacific Edge;
Suite of four
Cxbladder tests
16 years of R&D and
validation
Primary focus is the
USA; the world’s
largest healthcare
market
Commercial
partnerships in USA,
NZ, Australia and
Singapore
*EY Parthenon, a leading international consulting firm, has endorsed Pacific Edge’s USA market strategy and confirmed the addressable market for Cxbladderin the USA to be
more than US$1.2 billion per annum

Pacific Edge FY19 Half Year Result and Capital Raise Presentation
CXBLADDER
Validated by world leading physicians
The first new diagnostic tests for bladder cancer to be made
commercially available in the US market in 16 years, disrupting clinical
pathways and standards of care.
Four high performance Cxbladder products in use by clinicians and now
being integrated into standards of care and guidelines.
Non-invasive
Simple to use
Abilityto transport samples across international borders
Fast laboratory turnaround
Increase in clinical resolution
Can reduce healthcare spend
Ongoing clinical validation continues to demonstrate the
outperformance of Cxbladder compared to other commonly used
diagnostics. Third party clinical outcomes now being published
support the transition into commercial reality.

Pacific Edge FY19 Half Year Result and Capital Raise Presentation
CAPITAL RAISING
Placement Timetable
Pacific Edge in tradinghalt29 November
Placement undertaken29 November
Pacific Edge expected to resume
trading
30 November
Allotmentand Settlement of
placement shares
5 December
Slide 5
•Pacific Edge intends to undertake a placement of
new shares at $0.35 to raise up to $7m
•The placement bookbuild will occur on the 29
th
of November with participants including a range
of institutional investors
•Following completion of the placement, a Share
Purchase Plan (SPP) of up to $5m will allow each
New Zealand resident shareholder to subscribe
for additional shares at a price not more than the
placement price
•The full terms and conditions of the SPP will be
contained in an offer document which will be
distributed to all eligible shareholders after the
proposed record date
SharePurchase PlanTimetable
Record Date of SPP7 December
Opening Date for SPP10 December
Closing Date for SPP25 January 2019
Allotmentand Settlement of SPP
shares
31 January 2019
All dates and times are indicative only and subject to change

Pacific Edge FY19 Half Year Result and Capital Raise Presentation
1H19 HIGHLIGHTS AND MILESTONES
Slide 6
INCREASED TEST SALESUp 43% on prior comparative first half year period (pcp).
INCREASE IN BILLABLE TESTSUp 12%, relative to a strong pcp. Currently account for 82% of total laboratory throughput and
continues to increase.
IMPROVEMENT IN NET
OPERATING CASH OUTFLOW AND
NET LOSS
Net operating cash outflow reduced to ($8.6m) for the period, a 15% reduction on pcp. Net loss
reduced by 13% on pcp
INCREASING VALIDATION FOR
CXBLADDER
62% coverage by national healthcare providers in New Zealand, up from 36% this time last year.
US REIMBURSEMENT MILESTONESCompletion of two of the three components for national reimbursement in the USA. CxbladderDetect
and Monitor have been granted product specific codes (CPT codes) and Cxbladderhas been issued
with its national price of US$760 per test. The third and remaining component is the inclusion into the
Local Coverage Determination (LCD) that will enable reimbursement of tests for patients covered by
the Centersfor Medicare and Medicaid Services (CMS)
INCREASED FOCUS ON LARGE
HEALTHCARE ORGANISATIONS
Resulting in commercial evaluation with Johns Hopkins Medicine, an US$8 billion integrated global
health enterprise and one of the leading health care systems in the USA
GROWING PRESENCE IN
SOUTHEAST ASIA
Commercial engagement with Raffles Medical Group and User Programmes with the five largest
hospitals in Singapore is driving strong engagement with other potential strategic partners across
South East Asia.

Pacific Edge FY19 Half Year Result and Capital Raise PresentationSlide 7
New Zealand’s
public healthcare
providers are
leading the global
adoption of
Cxbladder
62% (1H19) coverage up
from 36% (1H18)
Cxbladder
replaces cystoscopy in standard of care

Pacific Edge FY19 Half Year Result and Capital Raise Presentation
1H19 RESULTS SNAPSHOT
(NZ$’000)
1H19
(unaudited)
1H18
(unaudited)
1H18: 1H19
(% change)
Operating Revenue
1
(test sales)2,0331,42543%
Other Revenue 606627(3%)
Total Revenue2,6392,05229%
Operating Expenses11,35812,091(6%)
Net Loss8,71910,039(13%)
Net operating cash outflow(8,612)(10,185)(15%)
Cash on hand as at 30 Sept 2018
(cash, cash equivalents and short term deposits)
10,0603,997152%
Slide 8
HIGHLIGHTS:
•43% increase in test sales
•6% decrease in operating expenses
•Operating cash outflow reduced 15%
•Reported net loss of $8.7m
•November 2018 placement and SPP
will assist the company to progress
its commercial objectives and
become cash flow positive as soon as
possible
1 Revenue excludes tests sold in the US for which cash payment has yet to be received, as well as tests completed for patients covered by the CMS. CMS tests account for
approximately 47% of annual US laboratory throughput and Pacific Edge will seek reimbursement for these when it is included in the CMS’s Local Coverage Determination (LCD).

Pacific Edge FY19 Half Year Result and Capital Raise Presentation
-
2.0
4.0
6.0
8.0
10.0
12.0
14.0
FY15FY16FY17FY18FY19
(000s)
LABORATORY THROUGHPUT
(Commercial tests and User Programmes)
1H2H
82% of 1H19 tests are billable
KEY METRICS: LABORATORY THROUGHPUT
Slide 9
•12% increase in billable test volumes, consolidating and
growing on the strong numbers in 1H18
•Billable tests account for 82% of total volume (1H18 76%)
•CMS tests account for approximately 47% of annual US
laboratory throughput and cumulatively totalled in excess
of 14,000 tests at 30 September 2018
•Implied average price of NZ$923 per test in 1H19, up 19%
from the pcpaverage of NZ$778 per test
•Total laboratory throughput expected to be stronger in
the second half of FY19

Pacific Edge FY19 Half Year Result and Capital Raise Presentation
KEY METRICS: OPERATING CASHFLOW
Slide 10
Operating cash outflow reduced 16%
•Net operating cash outflow reduced to ($8.6m), a 15%
decrease on 1H18: ($10.2m)
•Monthly cash outflow for 1H19 reduced to average $1.4m
(1H18: $1.7m). The first half of the financial year traditionally
has higher cash outflows due to annual costs being incurred in
the first half (e.g. insurance payments)
•Cash receipts from customers reflect the long reimbursement
processes, particularly in the US, with a large portion being for
tests sold in prior years
•Payment terms currently average 7 to 12 months lag between
completion of test and payment by relevant US payer
(insurer). Improvement expected now that national product
codes and a national CMS reimbursement price have been
received
•The growth in billable test volumes in 2H18 and 1H19 will
therefore progressively convert to cash in 2H19 and beyond
(NZ$’000)
1H19
(unaudited)
1H18
(unaudited)
1H18: 1H19
(% change)
Receipts from customers2,0261,65522%
Receipts from grants663225194%
Interest25082205%
Payments(11,610)(12,101)(4%)
Net GST change(59)46(228%)
Net operating cash
outflow
(8,612)(10,185)(15%)

Pacific Edge FY19 Half Year Result and Capital Raise Presentation
FOCUS FOR 2H19
Commercial growth in USA remains a focus for the Board and Management
Focus on growing the number of large institutional healthcare accounts including Kaiser Permanente and the
remaining public healthcare providers in NZ
Attain inclusion in LCD for CMS patients, which make up approximately 47% of current annual US laboratory
throughput. This will ensure cash uplift and timely reimbursement from CMS
Continuing uplift in commercial sales expected from existing and new customers
Build on initial sales from targeted VA centres and expand number of centres being targeted
Replicate successful NZ sales and marketing model in Australia to drive sales
Transition customers completing User Programmes in Singapore into commercial customers
Open discussions with potential strategic partners in South East Asia
Continue to build on the library of papers in peer reviewed clinical journals, that demonstrate the clinical utility
and validity of our products
Slide 11

Pacific Edge FY19 Half Year Result and Capital Raise Presentation
COMPARATIVE COMMERICAL LABORATORY TEST THROUGHPUT
(Number of Tests)1H172H17FY171H182H18FY181H192H19eFY19e
Total Laboratory Throughput
1
5,6225,62411,2467,1197,32914,4487,3979,10316,500
1
Billable Tests
% of total
4,112
73%
4,185
75%
8,297
74%
5,439
76%
6,427
88%
11,866
82%
6,078
82%
7,464
82%
13,542
82%
Non-billable Tests
% of total
1,510
27%
1,439
25%
2,949
26%
1,680
24%
902
12%
2,582
18%
1,319
18%
1,639
18%
2,958
18%
Slide 12
Half Year comparison FY17-FY19
1
The laboratory throughput in FY19 is expected to fall within a range of 16,000 and 17,000 tests with a mid point of 16,500 tests. This is
exclusive of any test volumes from any new commercial agreements which have yet to be signed and any benefit yet to be achieved from
step changes in new customers (Kaiser Permanente and CMS LCD inclusion).

Pacific Edge FY19 Half Year Result and Capital Raise Presentation
-
5.0
10.0
15.0
20.0
FY15FY16FY17FY18FY19
(000s)
LABORATORY THROUGHPUT
(Commercial tests and User Programmes)
OUTLOOK
COMMERCIAL PERFORMANCE:Stronger second half
expected in line with annual trends, with uplift in year on
year revenue
CASHFLOW:Continued improvement in operating
cashflow expected going forward, and improvement in
timing of receipt of cash
LABORATORY THROUGHPUT:FY19 laboratory throughput
expected to increase to 16,500
1
tests (FY18: 14,448
tests). Approx. 82% are expected to be billable –equal to
23% increase in 2H19 versus 1H19 and an 14% increase
year on year.
FUNDING FOR GROWTH:Cash balance materially
improved once announced placement and SPP
completed
Slide 13
FY19 laboratory throughput
estimate of 16,500
1
tests
1
The laboratory throughput in FY19 is expected to fall within a range of 16,000 and 17,000 tests. This
is exclusive of any test volumes from any new commercial agreements which have yet to be signed
and any benefit yet to be achieved from step changes in new customers (Kaiser Permanente and CMS
LCD inclusion).

CONTACT:
www.pacificedge.co.nz
www.cxbladder.com
www.pacificedgedx.com
David Darling
Chief Executive Officer
Pacific Edge Limited
Tel: +64 3 479 5802 Mobile: +64 21 797981
Email: david.darling@pelnz.com

Pacific Edge FY19 Half Year Result and Capital Raise Presentation
DISCLAIMER
Slide 15
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 byvisiting www.nzx.com/companies/PEB. This presentation should
be read in conjunction with PEL’s other periodic and continuous disclosure announcements released to NZX.
Not an offer
This presentation is for information purposes only and is not an invitation or offer of securities for subscription, purchaseorsale in any jurisdiction.
Not financial product advice
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.
Forward-looking statements
This presentation contains forward-looking statements that reflect PEL’s current views with respect to future events. Forward-looking statements, by their very nature, involve inherent risks and uncertainties. Many of those
risks and uncertainties are matters which are beyond PEL’s control and could cause actual results to differ from those predicted. Variations could either be materially positive or materially negative. The information is stated
only as at the date of this presentation. Except as required by law or regulation (including the NZX Main Board Listing Rules),PEL undertakes no obligation to update or revise any forward-looking statements, whether as a
result of new information, future events or otherwise. To the maximum extent permitted by law, the directors of PEL, PEL and anyof its related bodies corporate and affiliates, and their respective officers, partners,
employees, agents, associates and advisers do not make any representation or warranty, express or implied, as to the accuracy, reliability or completeness of such information, or the likelihood of fulfilment of any forward-
looking statement or any event or results expressed or implied in any forward-looking statement, and disclaim all responsibilityand liability for these forward-looking statements (including, without limitation, liability for
negligence).
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 2018.
Effect of rounding
A number of figures, amounts, percentages, estimates, calculations of value and fractions in this presentation are subject tothe effect of rounding. Accordingly, the actual calculation of these figures may differ from the
figures set out in this presentation.

Pacific Edge FY19 Half Year Result and Capital Raise Presentation
DISCLAIMER
Slide 16
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.
Investment risk
An investment in securities of PEL is subject to investment risk and other known and unknown risks, some of which are beyond thecontrol of PEL. PEL does not guarantee any particular return or the performance of PEL.
Distribution of presentation
This presentation must not be distributed in any jurisdiction outside New Zealand. The distribution of this presentation in jurisdictions outside New Zealand may be restricted by law, and persons into whose possession this
presentation comes should observe any such restrictions. Any failure to comply with such restrictions may violate applicablesecurities laws. None of PEL, any person named in this presentation or any of their affiliates
accept or shall have any liability to any person in relation to the distribution or possession of this presentation from or in any jurisdiction.
Not for distribution or release in the United States
This presentation is not for distribution or release in the United States. This presentation does not constitute an offer to sell, or the solicitation of an offer to buy, any securities in the United States. Any shares described in
this presentation have not been, and will not be, registered under the US Securities Act of 1933, as amended, or the securities laws of any state or other jurisdiction of the United States, and may not be offered or sold in the
United States except in transactions exempt from, or not subject to, registration under the US Securities Act of 1933, as amended, and applicable US state securities laws.
Disclaimer
None of PEL or PEL’s advisers or any of their respective affiliates, related bodies corporate, directors, officers, partners,employees and agents, have authorised, permitted or caused the issue, submission, dispatch or
provision of this presentation and, except to the extent referred to in this presentation, none of them makes or purports to make any statement in this presentation and there is no statement in this presentation which is
based on any statement by any of them.
To the maximum extent permitted by law, none of PEL and its advisers, affiliates, related bodies corporate, nor their respectivedirectors, officers, partners, employees and agents makes any representation or warranty,
express or implied, as to the currency, accuracy, reliability or completeness of information in this presentation; and none of them shall have any liability (including for negligence) for:
•any errors or omissions in this presentation; or
•any failure to correct or update this presentation, or any other written or oral communications provided in relation to this presentation; or
•any claim, loss or damage (whether foreseeable or not) arising from the use of any information in this presentation or otherwisearising in connection with this presentation or the information contained in it.
By receiving this presentation, you agree to the above terms and conditions
All information included in this presentation is provided as at 29November 2018.

---

Pacific Edge Limited
Appendix 1
Results for announcement to the market


Reporting Period 6 months to 30 September 2018
Previous Reporting Period 6 months to 30 September 2017

Amount (000s) Percentage Change
Revenue from ordinary
activities
- Operating Revenue:
NZ$2,033
- Other Income:
NZ$442

Revenue from ordinary
activities: NZ$2,475
- Operating Revenue:
43% increase
- Other Income: 18%
decrease

Revenue from ordinary
activities: 26% increase
Profit (loss) from ordinary
activities after tax
attributable to security
holder.
(NZ$8,719) 13% decrease
Net profit (loss) attributable
to security holders.
(NZ$8,718) 13% decrease

INTERIM / FINAL DIVIDEND
The Company does not propose to pay dividends to shareholders.

NET TANGIBLE ASSETS
Net tangible assets per share is 2.2 cents per share at 30 September 2018 (30 September
2017: 1.2 cents per share).

COMMENTARY ON RESULTS
The Company adopted NZ IFRS 15 at the end of the 2018 financial year. As a result, the
Previous Reporting period financial statements have been restated in the current Reporting
Period's financial statements. Refer to the Interim Financial Statements for further details.

For commentary on the results, please refer to the commentary in the related NZX release.

FINANCIAL INFORMATION
This Appendix 1 Release should be read in conjunction with the Interim Financial
Statements for the six months ended 30 September 2018 and the results presentation
commentary, both of which have been released with this NZX Appendix 1 Release.

The information below is as required by Appendix 1 of the NZX Main Board Listing Rules.

2.1 DETAILS OF THE REPORTING PERIOD AND THE PREVIOUS REPROTING PERIOD
The reporting period is for the six months ended 30 September 2018 ('current year') with
the comparative period being for the six months ended 30 September 2017 ('previous
year').

2.2 INFORMATION PRESCRIBED BY NZX
Refer to "Results for Announcement to the Market".

2.3 THE FOLLOWING INFORMATION

(a) - (c) Statement of Financial Performance, Statement of Financial Position and
Statement of Cash Flows
A Statement of Financial Performance, a Statement of Financial Position and a
Statement of Cash Flows are included in the Interim Financial Statements for the six
months ended 30 September 2018.

(d) Details of dividends or distributions and dividend or distribution payments
The Company does not propose to pay dividends to shareholders.

(e) Details of any dividend or distribution reinvestment plans in operation and the last
date for the receipt of an election notice for participation in any dividend or
distribution reinvestment plan.
The Company has no dividend reinvestment plan.

(f) Net tangible assets per security
Refer to the Results for Announcement to the Market

(g) Details of entities over which control has been gained or lost during the period
Entities over which control has been lost Nil
Entitles over which control has been gained Nil

(h) Details of associates and joint ventures
Nil

3.1 BASIS OF PREPARATION
The Interim Financial Statements have been prepared in accordance with New Zealand
Generally Accepted Accounting Practice (NZ GAAP). They comply with NZ IAS 34 and IAS 34
(Interim Financial Reporting).

3.2 ACCOUNTING POLICIES
Refer to the Summary of Accounting Policies in the Interim Financial Statements.

3.3 CHANGES IN ACCOUNTING POLICIES
The Company has adopted NZ IFRS 9 (Financial Instruments) in the 2019 financial year. This
has not had a material impact on the financial statements.

The Company adopted NZ IFRS 15 (Revenue from Contracts with Customers) at the end of
the 2018 financial year. As a result, the financial statements for the previous reporting
period have been restated.
Refer to the Interim Financial Statements for further details.

3.4 AUDIT REPORT
The financial statements are presented as unaudited.

3.5 ADDITIONAL INFORMATION
Not applicable.

---

APPENDIX 7 – NZSX Listing Rules
Number of pages including this one
(Please provide any other relevant
NZSX Listing Rule 7.12.2. For rights, NZSX Listing Rules 7.10.9 and 7.10.10. details on additional pages)
For change to allotment, NZSX Listing Rule 7.12.1, a separate advice is required.
Full name
of Issuer
Name of officer authorised to
Authority for event,
make this notice
e.g. Directors' resolution
Contact phone
Contact fax
numbernumber
Date
Nature of eventBonusIf ticked,
Rights Issue
Tick as appropriate
Issue
state whether:Taxable
/ Non TaxableConversionInterestRenouncable
Rights IssueCapitalCallDividend
If ticked, stateFull
non-renouncable
change
whether:
InterimYearSpecialDRP Applies
EXISTING securities affected by this
If more than one security is affected by the event, use a separate form.
Description of theISIN
class of securities
If unknown, contact NZX
Details of securities issued pursuant to this eventIf more than one class of security is to be issued, use a separate form for each class.
Description of theISIN
class of securities
If unknown, contact NZX
Number of Securities toMinimum
Ratio, e.g
be issued following eventEntitlement
1 for 2 for
Conversion, Maturity, Call
Treatment of Fractions
Payable or Exercise Date
Tick if
provide an
pari passu
ORexplanation
Strike price per security for any issue in lieu or date
of the
Strike Price available.
ranking
Monies Associated with Event
Dividend payable, Call payable, Exercise price, Conversion price, Redemption price, Application money.
Source of
Amount per securityPayment
(does not include any excluded income)
Excluded income per security
(only applicable to listed PIEs)
SupplementaryAmount per security
Currencydividendin dollars and cents
details -
NZSX Listing Rule 7.12.7
Total monies
TaxationAmount per Security in Dollars and cents to six decimal places
In the case of a taxable bonusResident
Imputation Credits
issue state strike priceWithholding Tax(Give details)
Foreign
FDP Credits
Withholding Tax(Give details)
Timing
(Refer Appendix 8 in the NZSX Listing Rules)
Record Date 5pmApplication Date
For calculation of entitlements -Also, Call Payable, Dividend /
Interest Payable, Exercise Date,
Conversion Date.
Notice DateAllotment Date
Entitlement letters, call notices,For the issue of new securities.
conversion notices mailedMust be within 5 business days
of application closing date.
OFFICE USE ONLY
Ex Date:
Commence Quoting Rights:Security Code:
Cease Quoting Rights 5pm:
Commence Quoting New Securities:Security Code:
Cease Quoting Old Security 5pm:
7 December, 201825 January, 2019
10 December, 201831 January, 2019
$$
$
NZD
Up to $5,000,000
Date Payable
N/ARounded up to nearest whole number
Enter N/A if not
applicable
N/A
NZPEBE000251
Ordinary Shares to be issued under a share purchase planNZPEBE000251
In dollars and cents
To be fixed on 25 January 2019
03 479 851003 479 580129112018
To be determined
NZ$1,000
Ordinary Shares
EMAIL: announce@nzx.com
Notice of event affecting securities
Pacific Edge Limited
Kate RankinDirectors' resolution