Pacific Edge Limited logo

Pacific Edge 2019 Annual Meeting of Shareholders

AGM31 July 2019PEBHealthcare

31 July 2019
Page 1 of 11

2019 ANNUAL MEETING

CHAIR AND CEO’S PRESENTATIONS


CHAIRMAN’S PRESENTATION: CHRIS GALLAHER


SLIDE 5: PACIFIC EDGE: CANCER DIAGNOSTICS COMPANY


Our consistency of purpose and strategy has not changed and we continue to make progress in our

commercial journey. We are very conscious that our pace in some areas is not as fast as we, or our

shareholders, would like it to be.


As we have continued to learn, everything outside of our control in our space takes much longer than planned

or hoped for.


Our goal remains to establish Cxbladder as the world’s leading molecular diagnostic technology for the

detection and management of urothelial cancer and to maximise the value of our technology for the benefit

of our shareholders.


Pacific Edge owns world leading technology and intellectual property and we have a significant time based

competitive advantage over the competition.


Urothelial cancer is primarily bladder cancer but also includes cancers of the upper urinary tract. It is the sixth

most common cancer in the USA and the fourth most common in men. It has the highest recurrence rate of

any cancer and the highest costs per patient. Traditional methods of diagnosis and monitoring are invasive,

expensive and their performance falls short of physician’s expectations.


Cxbladder provides a non-invasive, accurate and simple solution and our suite of tests is meeting the needs

of physicians, patients and healthcare payors.


The US market remains our primary focus with a potential market opportunity of more than a billion US

dollars.


In all our markets, we have increased our focus on large healthcare organisations, which can take longer to

bring into contract but offer significantly higher, long term value and reimbursement.


We have a first mover advantage in urothelial cancer with 17 years of R&D behind us, and a growing portfolio

of clinical evidence supporting the performance and clinical utility of our tests. We are now seeing growing

adoption and commercial use of our tests by key opinion leaders and urologists.


SLIDE 6: BOARD REPORT FY19


As a Board, our focus is on overseeing the successful implementation of our strategy .... gaining commercial

adoption of Cxbladder by large healthcare organisations in our targeted markets, and particularly the USA.

31 July 2019
Page 2 of 11

Our commercial approach was validated through an independent review by EY-Parthenon last year, which

confirmed both the scale of the opportunity and our market strategy.


Key milestones are being achieved, both in the US and in our other markets of Southeast Asia, Australia and

NZ.


Of particular note, we now have two of the three national reimbursement milestones required in the USA,

which enables us to progress commercial discussions with healthcare payors and institutional organisations.


Gaining inclusion in the Local Coverage Determination for the Centres for Medicare and Medicaid is the third

reimbursement milestone and it remains a critical focus for our team. This is an unprescribed process, based

on published clinical evidence. Our library of peer reviewed clinical papers continues to grow with several

new, very positive papers in recent months which we expect to be of benefit in the LCD review process.


In New Zealand, we have seen an escalation in uptake by the District Health Boards. Contract coverage is

now over 60% of the population and we expect the other DHBs to follow their lead. Commercial test sales

are increasing and we expect the NZ business to reach a cashflow breakeven position this year, which will be

a major highlight for our company and will further support the validity of our commercial strategy.


Southeast Asia is a longer term opportunity but could one day be bigger even than the States. We are in the

very early stages still, and have started with user programmes in Singapore. We hope to see these to start

transitioning to commercial customers in the near future.


As I noted earlier, the timeline to broad commercial success has taken longer than originally anticipated but

we are confident we are doing the right things and making progress in the areas that we can control.


Our reported loss for the year was $17.9m, a $2m reduction on last year and was in line with our internal

expectations.


Pacific Edge has always been run on a tight budget, with funding support sought from shareholders in smaller

increments and on a more regular basis, rather than large capital raisings.


We have constrained our expenditure on the US sales force last year and this has cost us some growth. This

is always a difficult balancing act between conserving scarce capital resources and continuing to drive growth.


I would like to thank shareholders for their support for last year’s $12m capital raising, which saw a number

of new investors also join our register. There is also growing interest from overseas investors in our company,

which was reflected in last year’s placement from Manchester Management Company in the USA, which

raised $2.6m.


Cash and cashflow management is very front of mind as you would expect from a growth business. The

company had cash of $12.8m as at 31 March 2019, and our cash burn remains in line with our expectations

at about $1.1m per month. We expect the escalation of commercial test sales, particularly in NZ, to have a

positive impact on our operating cashflows.

31 July 2019
Page 3 of 11

Our focus for FY19 remains on completing commercial arrangements with large healthcare institutions in all

our targeted markets. Obtaining the LCD for CMS reimbursement is also a priority. We will be working to

bring on board the remaining DHBs in NZ and to expand our presence in Southeast Asia, and in Australia

where we have now taken over the sales process.


I would like to sincerely thank the Board for their enthusiasm, skills, knowledge and support they have given

me as Chair over the last year. Without singling any of my colleagues out, I will do so! Both John and Sarah

have come onto the Board as part of our Board renewal process and have enthusiastically taken the Chair

roles in our two most important Board Committees. We conducted an external review of your Board’s

effectiveness during the year and our benchmark outcomes were very pleasing. I believe that shareholders

are well served by your Board.


Our company is uniquely placed to capitalise on the demand for better, more accurate, less invasive and

more cost-effective diagnostics. We appreciate and thank shareholders for your patience and support and

are working hard to deliver value for your investment in Pacific Edge.


CEO’S PRESENTATION: DAVID DARLING


SLIDE 8: FY19 HIGHLIGHTS AND MILESTONES


Despite not achieving all of the goals we set for ourselves, FY19 was a year of strong progress with a number

of achievements:

• Commercial sales and billable test volumes grew, with accelerated momentum in Q4, primarily

driven from the growing adoption by NZ’s public healthcare providers.

• We achieved two of the three milestones for US reimbursement.

• Our portfolio of clinical evidence has evolved and grown and we were added to the local

guidelines for some of the large public healthcare providers in New Zealand giving us a strong Q4

revenue for our NZ based business.

• And financially, we reported an improvement in Net Operating Cash Outflow and Net Loss.

• We also completed a successful $12m capital raise, providing us with the resources to continue

on our strategic pathway.


SLIDE 9: FY19 FINANCIAL SNAPSHOT


Under our financial reporting model, we only recognise revenue for US customers when cash payment is

received. Revenue therefore excludes tests done for the CMS, which comprised approximately 50 percent of

our tests in FY19. Once we receive the LCD, we will be able to negotiate with the CMS for reimbursement of

our large back-log of more than 17,000 test invoiced to the CMS to-date.


In FY19, revenue was up 12%, total operating expenses reduced by 7% and a net loss of $17.9m was a 9%

improvement on the prior year.


Our focus on disciplined cash management saw net operating cash outflow reduce from $18.1m to $17.5m

for the year, a 3% decrease on FY18.

31 July 2019
Page 4 of 11


US payment terms currently average between 7 to 12 months from completion of test to payment by relevant

US payer (insurer). However, the introduction of national product specific CPT codes for Cxbladder Detect

and Cxbladder Monitor in the USA, effective from 1 January 2019, has had a positive impact on cash collection

rates in Q419 and this positive trend is expected to continue over FY20.


SLIDE 10: FY19 KEY METRICS – LABORATORY THROUGHPUT


The key metrics we use to measure our progress are commercial sales, laboratory throughput and billable

test volumes. These all increased year on year.


The growing commercial adoption of Cxbladder can be seen in the percentage of billable tests, up to 81% of

total laboratory tests compared to 74% two years ago.


Momentum is growing and we have seen accelerated growth in lab throughput, particularly in the last

quarter of FY19.


Test volumes are well up on the same quarter last year, and the positive trends seen in Q3 to Q4 have

continued into this financial year. This increase in commercial test demand is mainly being driven by the

public health care providers in New Zealand, as more of them adopt Cxbladder at scale.


The US remains our biggest market with 80% of throughput, compared to 20% in ‘Rest of World’ markets

which themselves have grown 83% year on year.


SLIDE 11: COMMERCIAL PROGRESS BY REGION IN FY19


In the last year, we made progress on many fronts that move our business forward. We are now growing our

commercial base in all our target markets and building scale in our business.


SLIDE 12: GROWING COMMERCIAL ADOPTION IN NEW ZEALAND


Our home market of New Zealand is a great example of what our tests can achieve in terms of better patient

care, better outcomes and better use of limited healthcare resources.


The majority of New Zealand’s public healthcare providers are using Cxbladder commercially in their regions

with a combined coverage of more than 3 million people, or over 60% of New Zealand’s population. In some

of these public healthcare providers, Cxbladder has also been added into clinical guidelines, replacing the

gold standard cystoscopy in both the evaluation of haematuria and in the monitoring for recurrence of

urothelial cancer.


Demand and commercial sales in NZ are exceeding our expectations and are expected to continue to grow

as the remaining DHBs come on board and test usage grows.

31 July 2019
Page 5 of 11

While small in terms of test numbers relative to the US, this adoption by the majority of the New Zealand’s

national healthcare providers and the compelling look-back studies they have completed, are significant

steps in terms of global credibility.


The actions being taken here lead the world and their demonstrable benefits have been transformational for

urology healthcare here in New Zealand. This progress is being watched carefully by large healthcare

institutions and leading urologists around the world, and are another step towards gaining wider adoption

for Cxbladder.


SLIDE 13: CONTINUED REIMBURSEMENT PROGRESS IN THE US


The USA remains our primary commercial focus with an estimated addressable annual market opportunity

for Cxbladder of around US$1.2b, this was ratified by EY Parthenon in 2018.


Our tests can be used for the 7 million people who present annually with haematuria, the 3.4 million who

require further workup for bladder cancer annually, and the 800,000 who need monitoring for recurrence of

the disease more than 3 times per year. So you can see that this is a sizeable market where there has been

no new commercial tests launched in 17 years.


There are three key reimbursement milestones required to fully enable reimbursement from both private

and public payers in the US – receipt of CPT Codes; a national price; and inclusion in the Local Coverage

Determination for the CMS. We have achieved two of these milestones and are working hard to achieve the

third.


In March 2018, we received national product specific codes for Cxbladder Detect and Cxbladder Monitor.

This is a big achievement as these Codes are only issued for tests that have entered the mainstream and

where the volume of tests used by physicians has been shown to be indicative of significant adoption. The

panel of experts at the American Medical Association looks at the clinical evidence, the volume of tests used

annually and, on the basis of their review, CPT Codes were issued in 2018 for two of our Cxbladder products.

Currently Cxbladder Detect accounts for the majority of US sales, with Monitor following. A CPT code for

Cxbladder Triage is expected to follow as adoption of Cxbladder Triage grows in the US.


In October 2018, we received notification of a national price for all Cxbladder tests of US$760 per test.


The successful achievement of these two reimbursement milestones has allowed us to initiate negotiations

for contract terms with private payers. On successful completion, these will enable a shortening of the overall

administration of the payer transaction.... that will help the urologist and provide an improvement in the

time to receipt of cash for Pacific Edge.


Progress continues to be made with the process to obtain inclusion in the Local Coverage Determination,

which will enable reimbursement for patients covered under the CMS.


The publication of peer reviewed clinical papers is a critical part of the LCD process and the recent

publications in the prestigious European Urology journal and the real-world evidence on clinical utility

31 July 2019
Page 6 of 11

published in the NZ Medical Journal, will be expected to help drive positive reimbursement decisions with

both private payers and the CMS.


SLIDE 14: FOCUS ON INSTITUTIONAL HEALTHCARE ORGANISATIONS


Across all of our target markets, we continue our focus on large institutional healthcare organisations.

We have seen the impact our technology makes on these large healthcare providers who have burgeoning

patient needs, few resources, aging populations and need to show value changes for their clinical services.


While these institutional customers can take longer to bring to completion, once commercial agreement is

reached, they provide significant volume, require lower sales maintenance and deliver more sustainable,

longer term growth opportunities with shorter cash conversion cycles. This is what we have seen over the

last two years with the Canterbury public healthcare providers.


In line with this, we have transferred our NZ Sales Manager to replicate the successful New Zealand

commercialisation model into Australia.


SLIDE 15: KEY INSTITUTIONAL CUSTOMERS


We have a growing list of large healthcare organisations using our tests.


In South East Asia, we have User Programmes underway with the five largest hospitals in Singapore. These

are nearing completion and our focus will be on transitioning these hospitals to commercial customers and

growing the adoption of Cxbladder by other large healthcare organisations in the region. We have started

our commercial sales with the Raffles Medical Group and are building acceptance and experience with the

use of Cxbladder in the Asian population.


In the US we have re-focussed our US sales team and added more resource for these institutions. We are in

ongoing commercial negotiations and start up processes with multiple targeted institutional customers in

the USA, including John Hopkins Medicine, which commenced a commercial evaluation of Cxbladder during

the year.


SLIDE 16: GROWING CLINICAL EVIDENCE FOR CXBLADDER


We have generated in excess of 10 years of accumulated evidence showing the outperformance of Cxbladder.

This has been a significant and time consuming investment for the company and we are now seeing the fruits

of this investment in the reimbursement milestones in the USA, increasing adoption in all our markets, and

inclusion in NZ and USA guidelines.


SLIDE 17: COMMERCIAL PROGRESS IN LINE WITH PEERS


Published evidence is the key ingredient in driving positive reimbursement decisions and widespread

adoption of Cxbladder with customers globally. With growing adoption will come inclusion into more

international clinical guidelines, underpinning the expected acceleration in revenue for the company, as has

been seen in other companies in the US who have traversed this path.

31 July 2019
Page 7 of 11


Just this month, we were advised that Cxbladder has been included in the latest version of the National

Comprehensive Cancer Network (NCCN) Guidelines for Bladder Cancer in the USA.... as an approved clinical

intervention for high-risk patients being monitored for the recurrence of urothelial cancer.


This is a pivotal commercial outcome for the company with the NCCN Guidelines widely recognised and used

as the standard for clinical policy and practice in oncology by clinicians and payors in the USA. To be

considered for review and inclusion in the NCCN guidelines requires an extensive portfolio of clinical

evidence, a track record of clinical use, and broad adoption by physicians.


SLIDE 18: EUROPEAN UROLOGY PUBLICATION


The clinical evidence behind our Cxbladder tests is extensive and has shown to be commercially actionable.

New publications, commercial look-backs and clinical utility studies consistently and repeatedly define the

outperformance of Cxbladder compared to other tests used every day in the clinic, including the gold

standard cystoscopy. This evidence supports Cxbladder’s additional clinical utility; its patient benefits; and

its ability to reduce healthcare costs. These are the features driving the successes that we have announced

over the last 12 months and foretell the path forward in the other markets.


The most recent clinical publication has been in European Urology, the world’s number one ranked urology

journal with a reading audience in excess of 20,000 medical professionals globally.


This paper further extends Cxbladder’s clinical utility for physicians and patients through its ability to remove

the well-recognised diagnostic dilemma faced by physicians and patients alike - when the existing gold

standard tests and procedures are not able to determine a clear diagnostic outcome.


In simple terms, Cxbladder delivered 100% accuracy in adjudicating all patients with urothelial cancer from

amongst those with atypical and equivocal diagnostic results. This enabled physicians to resolve this

diagnostic dilemma without the inconvenience and added cost of re-evaluating the patient.


Cxbladder also significantly outperformed cytology for accurately identifying patients who do not have

urothelial cancer.


This real world outcome positions Cxbladder for consideration for inclusion in international guidelines which

in turn will fuel broader acceptance and adoption by physicians.


Over the preceding years, many of our customers in the USA have been hampered in their commercial use

of Cxbladder as the Cxbladder technology has not been specifically included in the guideline

recommendations. So, inclusion in the NCCN Bladder Cancer guidelines is a major commercial inflexion point

for us and will be of significant value as we progress our commercial discussions with our many urologist

customers including the large healthcare organisations we are targeting.




31 July 2019
Page 8 of 11

SLIDE 19: CLINICAL LOOK BACK STUDY


Providing evidence of clinical utility is now a requirement for the issue of positive reimbursement and

coverage decisions around the world. Physicians and payers need to be able to clearly identify the change in

clinical behaviour that will come about when the technology has been adopted.


During the year Canterbury DHB published their commercial lookback following adoption and integration of

Cxbladder into their standard of care, showing a significant increase in clinical utility from a reduction by

more than 30% of cystoscopies they would otherwise have used.


SLIDE 20: THE OPPORTUNITY FOR CXBLADDER


I’d now like to take a few minutes to review what we are seeking to achieve with Cxbladder globally and the

scale of the opportunity for our company....


SLIDE 21: DETECTING AND MANAGING UC


So why urothelial cancer? Well it’s a horrible disease. It’s largely a man’s disease with 80% of patients being

men and 20% being women. It’s about blood in your urine and if you have urothelial cancer, it’s about being

monitored for most of your life with expensive and invasive procedures.


Urothelial cancer is a major global health problem and creates a significant healthcare challenge. It is

prevalent, has high recurrence rates and is expensive to diagnose and monitor.


In the US alone, 3.4 million people are evaluated for UC every year, and over 81,000 new cases are diagnosed

annually. Including those being monitored for recurrence of the disease, more than 800,000 patients are

being managed for urothelial cancer at any one time, multiple times per year and all of these patients will

benefit from the use of Cxbladder.


SLIDE 22: CLINICAL PATHWAY FOR UC IN THE USA


Haematuria is blood in the urine and is a key indicator of urothelial cancer. Up to 20% of all urologic visits are

for haematuria, and up to 20% of Medicare patients present with haematuria annually. There are various

causes for blood in the urine and the priority for the physician is to determine if the patient has cancer.


Every year in the USA, approximately 7 million patients with haematuria present to their primary care

physician and are evaluated. 3.4 million of these are referred to a specialist for further work up. Historically,

evaluation and workups involved an arduous regime of invasive and expensive tests, including cystoscopy

which is a tube with a scope inserted into the urethra used to scan the bladder.


EY Parthenon has estimated in 2018 that the annual addressable market for Cxbladder tests is US$ 1.2 billion.

There have been no new diagnostic tests commercially available in urothelial cancer over the last 17 years.

Cxbladder has global first mover advantage and has built all of the necessary evidence to enable a

transformation in the detection and management of urothelial cancer. You have been witnessing it all

happening first, here in NZ.

31 July 2019
Page 9 of 11


So why is Cxbladder so effective? Cxbladder allows for non-invasive testing using urine based, liquid-biopsy

tests.


Patients who do not have cancer can now be removed from having a referral to urologists for a full work-up,

very accurately.


Only those identified as ‘at-risk’ now require a further work up. Further evaluation by a urologist allows for

the identification of high risk patients and allows treatment plans to be tailored to their needs.


The monitoring for recurrence of the disease is now easier and simpler for patients, using Cxbladder’s unique

sample container allowing them to complete the test at home and send it in for analysis, rather than having

to visit their specialist.


Overall, using Cxbladder in the evaluation of haematuria in patients has been shown to repeatedly, reduce

the need for cystoscopy by up to 60%. The test provides better and more detailed information for physicians,

the non-invasive nature increases patient compliance with the monitoring regimen and it is providing

significant cost savings for healthcare payers.


SLIDE 23: PATIENTS DON’T LIKE INVASIVE TESTS


The recent study by the Bladder Cancer Advocacy Network, on the regular use of cystoscopy, showed that

the majority of patients receiving a cystoscopy reported moderate to severe discomfort, anxiety and pain.


Compliance by patients with the physician’s recommendations is a major issue. A large 2011 study showed

that physicians and patients are not following current recommendations, with only 1 out of every 4,545

patients receiving all the recommended measures for surveillance. The authors noted that the invasive

nature and treatment strategies may play a part in non-adherence to clinical practice guidelines.


In a recent clinical paper, the use of Cxbladder on the evaluation of haematuria patients in NZ has been

shown to lead to a 35% reduction in the use of cystoscopy and, for patients who are being regularly

monitored for recurrence of the disease, more than 70% do not receive a cystoscopy, whilst providing highly

accurate results for physicians.


SLIDE 24: CXBLADDER: MEETING AN UNMET CLINICAL NEED


Cxbladder’s multiple products have been developed to meet the specific defined needs of urologist

physicians and they represent a transformational shift in the way that bladder cancer is detected and

managed. It’s been tremendously exciting to see our products now being recognised in guidelines......now to

turn this into cash revenue.


SLIDE 25: FY20 OUTLOOK


This has been a journey of building foundations in a healthcare environment where the burden of proof is

very high. Today we see that most of the foundations for commercial success have now been completed with

31 July 2019
Page 10 of 11

increasing recognition in local and national guidelines. The adoption of Cxbladder and commercial sales are

increasing and we remain focused on completing the Local Coverage Determination as the key to our national

reimbursement and a scale ramp in our revenue. Guidelines inclusion and the LCD will accelerate the

adoption of Cxbladder as has been seen in other comparator molecular diagnostic companies.


SLIDE 26: KEY OBJECTIVES FOR FY20


We have a number of key objectives over the near term which will help us achieve our goals of growing our

global reach, building and strengthening our customer base and increasing sales and adoption - all of which

will drive greater cash revenue.


We have identified the key opportunities for growth in all our targeted markets and will continue to direct

our time and resources to achieve these.


SLIDE 27: PRIMARY FOCUS REMAINS THE USA


The USA remains our primary commercial focus with an estimated annual market opportunity for our

Cxbladder products of approximately US$1.2b. Our test can be used for the 7 million people who present

with haematuria, the 3.4 million who require further workup for bladder cancer, and the 800,000 who need

monitoring, multiple times per year, for recurrence of the disease.


SLIDE 28: POSITIVE GROWTH OUTLOOK


Pacific Edge has been constantly treading new ground. Our tests are disruptive to conventional clinical

pathways and as we have learnt, the adoption process in the US can be time consuming and requires

substantial resource.


We are seeing accelerating momentum in commercial sales from new and existing customers and we expect

this to continue.


Demand from public healthcare providers in New Zealand is expected to grow strongly and positively impact

on laboratory throughput volumes and cash revenue.


Cash investment in our company is always one of our key focal points while we are still losing more cash than

we make. We have held the US sales force at a lower level than planned to conserve our cash while we

complete the CMS and LCD. FY20 total operating expenses are expected to remain in line with FY19.


Cxbladder test demand by US physicians is expected to be positively impacted in FY20 from having national

product specific CPT codes for Cxbladder and a national CMS reimbursement price in place.


Our compelling dossier of clinical evidence, which is being published in top tier international journals, is

expected to facilitate positive reimbursement decisions by both private and public payers over the near term.


The benefits and value our Cxbladder tests offer and the opportunities for our company are huge.

31 July 2019
Page 11 of 11

We are making positive commercial progress and we thank you for your continued support as we work hard

to attain our goals to make a step change in our revenue growth and realise our full potential.


ENDS

---

PACIFIC EDGE
2019 ANNUAL

MEETING

BOARD OF DIRECTORS
Chris GallaherIndependent Director, Chairman

David DarlingExecutive Director and Chief Executive Officer

John DuncanIndependent Director

David LevisonIndependent Director (US-based)

Anatole MasfenIndependent Director

Sarah ParkIndependent

Bryan WilliamsIndependent Director

2019 Annual Meeting2

GOVERNANCE

Board of Directors

Experience in governance, finance, sales

management cancer research,

biotechnology and life sciences,

investment and business advisory.

Subsidiary Board Directors

In-country commercial experience and

scientific and/or clinical expertise.

Scientific and Clinical Advisory Boards

Expert advice on global clinical needs

and product applications; and scientific

progress and clinical opportunities.

MEETING AGENDA
•Presentations:

•Address from the Chair, Chris Gallaher

•Address from the Chief Executive Officer, David Darling

•Shareholder Discussion

•Resolutions as per Notice of Meeting:

•Re-election of Chris Gallaher and David Levison

•Election of Sarah Park and John Duncan

•Authorise the Directors to fix the auditor’s remuneration

•Adoption of new Constitution

•General Business

•Close of Annual Meeting

2019 Annual Meeting3

CHAIRMAN
Chris Gallaher

FIRST MOVER ADVANTAGE IN A GLOBAL OPPORTUNITY IN
HAEMATURIA AND BLADDER CANCER

The USA and NZ markets dominate our commercial focus

“Pacific Edge’s annual

addressable market in

the USA alone has

been calculated to be

worth up to US$1.2

billion per annum.”

EY-Parthenon review 2018*

2019 Annual Meeting5

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

Suite of four

Cxbladder tests

17 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

BOARD REPORT FOR FY19
•Board oversight of strategy implementation following detailed strategic review in February 2018.

•Now starting to realise the revenue potential of our company –in early stages in the USA.

•Key milestones being achieved, although taking longer than anticipated to gain widespread

commercial adoption.

•Progress continues to be made with a number of important achievements in FY19.

•Strategic focus going forward:

•Achieve the third major milestone for national reimbursement (CMS)

•Targeting of large institutional healthcare providers in all markets

•Continue to build portfolio of clinical evidence to support reimbursement and adoption decisions.

•Board continues to carefully manage cash resources; achieving a cashflow breakeven position

remains front of mind.

•Refreshed the Board with appointment of two new directors with relevant expertise and skills.

2019 Annual Meeting6

CHIEF EXECUTIVE OFFICER
David Darling

FY19 HIGHLIGHTS AND MILESTONES
•Growth in commercial sales and billable test volumes:

-Strong growth in NZ and US commercial sales, particularly in Q4 FY19.

•Two of three US reimbursement milestones successfully attained:

-National price for all Cxbladdertests (US$760 per test)

-National product specific CPT codes for Cxbladder Detect and Cxbladder Monitor.

•High levels of adoption in NZ and addition to public healthcare provider guidelines.

•Increased focus on institutional healthcare organisationsin all markets following the success of the NZ

model

•Growing presence in Southeast Asia, commercial sales with Raffles Medical Group

•New sales focus in Australia driven by Pacific Edge.

•Increasing global pool of clinical evidence for Cxbladder facilitating test adoption and reimbursement.

•Increasing investor knowledge base and support.

2019 Annual Meeting8

FY19 FINANCIAL RESULT SNAPSHOT
2019 Annual Meeting9

üOperating revenue from test sales up 12% y/y

to $3.8m, with total revenue for the period of

$5.1m

üTotal operating expensesreduced to $23.0m

for the year, a 7% decrease on FY18

üNet loss of $17.9m for the year, an

improvement of 9% on FY18

üNet operating cash outflow reduced to

$17.5m, in line with expectations

ü$12.8m in cash, cash equivalents and short

term deposits as at 31 March 2019

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’ Local Coverage Determination

(LCD). As at 31 March 2019, Pacific Edge has completed and invoiced a total of 17,015 tests for CMS patients in the USA, forwhich the company is yet to be reimbursed.

(NZ$’000)FY19FY18

%

Change

Operating Revenue

1

(test sales)3,817

3,400

12%

Other Revenue 1,312

1,602

(18%)

Total Revenue5,129

5,002

3%

Operating Expenses23,038

24,646

(7%)

Total Comprehensive Loss17,921

19,727

(9%)

Net Operating Cash Outflow17,507

18,100

(3%)

Cash on hand as at 31 March 2019

(cash, cash equivalents and short term deposits)

12,847

16,242

(21%)

FY19 KEY METRICS –LABORATORY THROUGHPUT
USA

80%

ROW

20%

2019 Annual Meeting10

0

2

4

6

8

10

12

14

16

FY14FY15FY16FY17FY18FY19

(000s)

LABORATORY THROUGHPUT

(Commercial tests and User Programmes)

81%of FY19 tests were billable

CMS related tests cumulatively totalled in excess of 17,000 testsas at 31 March 2019.

Will negotiate for payment of these once Cxbladder is included in LCD.

Detect

57%

Monitor

23%

Triage

20%

Total Laboratory Throughput

(by region)

Total Laboratory Throughput

(by test type)

Test usage determined by length of time in market for each product.

Regional Throughput by Test USANZ

Cxbladder Detect66%20%

Cxbladder Monitor26%12%

Cxbladder Triage

8%68%

COMMERCIAL PROGRESS BY REGION IN FY19
2019 Annual Meeting11

GROWING COMMERCIAL ADOPTION IN
HOME MARKET (NEW ZEALAND)

•New Zealand’s public healthcare providers are leading the global

adoption of Cxbladder.

•Majority have now adopted Cxbladder into their standard of care

and, in some cases, their clinical guidelines, replacing the gold

standard cystoscopy

•Demand from NZ public healthcare providers exceeded expectations

with strong growth from new and existing customers, particularly in

Q419.

•Counties Manukau, Tairāwhiti, Capital & Coast and Hawkes Bay

District Health Boards all signed commercial agreements in FY19

bringing total contract coverage of New Zealand’s population to

more than 60%.

•Canterbury DHB’s comprehensive commercial look-back over

Cxbladderuse on 570 patients published providing compelling

support to change guidelines

•Demand from New Zealand’s public healthcare providers is

continuing its growth in FY20.

2019 Annual Meeting12

CONTINUED REIMBURSEMENT PROGRESS IN THE US
•Receipt of Product Specific CPT codes for Cxbladder Detect and

Cxbladder Monitor (January 2019)

•Notification of a National Price for all Cxbladder tests of $760

per test in (October 2018)

•Progress being made with the third and final milestone, to have

Cxbladder included in a Local Coverage Determination (LCD),

which will allow for reimbursement by CMS

2019 Annual Meeting13

TwoofthreemilestonesrequiredfornationalpublicreimbursementintheUSwerecompletedinFY19:

Allows Pacific Edge to

move into contract

negotiations with

private payers

FOCUS ON INSTITUTIONAL
HEALTHCARE ORGANISATIONS IN

ALL MARKETS

•Building on success achieved with large public

healthcare providers in New Zealand.

•Ongoing commercial negotiations and start up

processes with multiple targeted institutional

customers in the USA.

•FY19 commenced commercial evaluation with

John Hopkins Medicine, a US$8 billion

integrated global health enterprise and one of

the leading health care systems in the USA.

2019 Annual Meeting14

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.

INSTITUTIONS IN SOUTHEAST ASIA AND THE USA USING OR
EVALUATING CXBLADDER

•Carolina Urologic Research

Center

•City of Hope

•Cleveland Clinic

•Cornell

•Fox Chase CC

•Johns Hopkins CC

•MD Anderson

•Moffitt CC

•Ohio State University CC

•Penn State Milton S. Hershey

Medical Center

•Rush University

•Thomas Jefferson University

•TriStar Medical Center

•UCLA

•University of California-San Diego

•University of California-San Francisco

•University of Chicago

•University of Colorado

•University of Michigan

•University of Minnesota

•University of Oklahoma

•University of Pennsylvania

•University of Southern California

•UT Southwestern

•VA Accounts

•Wellstar

•Singapore General Hospital

•Tan Tock Seng

•Khoo Tech PuatHospital

•KK Womensand ChildrensHospital

•National University Hospital

SingaporeUSAUSA

GROWING CLINICAL
EVIDENCE FOR

CXBLADDER

•Publication of peer-reviewed papers is key to

gaining coverage and positive reimbursement

decisions.

•Library of comprehensive clinical evidence for

physicians, healthcare payers (reimbursement)

and healthcare providers alike.

•Application to have Cxbladder included in an

LCD has been supported by the recent

publication of further compelling clinical

evidence expanding the clinical utility of

Cxbladder.

•Cxbladder already in guidelines for some NZ

public healthcare providers.

•On 10 July 2019, Cxbladder Monitor was added

to the National Comprehensive Cancer

Network guidelines in the USA.

2019 Annual Meeting16

“This is first time urinary urothelial biomarkers have been included in the

guidelines...” Dr Sia DaneshmandNew York presentation 18 July 2018

COMMERCIAL PROGRESS IN LINE WITH PEERS
Cxbladder’scommercial progress is currently in

line with peers in the diagnostics world; gaining

coverage and reimbursement decisions will be key

to driving volume.

Cxbladder is tracking in line with Genomic Health

and MDxHealth:

•Sales of Cxbladderare currently in line with

those of Genomic Health’s Oncotype Dxand

MDxHealth’s ConfirmMDxat the time of their

launch

•Continuing to gain coverage and positive

reimbursement decisions will be crucial to help

accelerate test volume

•Guideline inclusion has also served as a key

catalyst for sales volume and physician adoption

Source: EY Parthenon review of Cxbladderstrategy in the USA 2018

( Updated by PE)

0

5,000

10,000

15,000

20,000

25,000

30,000

35,000

40,000

45,000

50,000

012345

Number of Tests Sold

Years After Launch

Test Volume of Various Diagnostics Post Launch

Cxbladder

Genomic Health

SelectMDx

Confir mMDx

FoundationOneHeme

FoundationACT

Inclusion in

ASCO and

NCNN

guidelines for

Genomic

Health

Cxbladder

DIAGNOSTIC OUTPERFORMANCE PUBLISHED
IN WORLD #1 CLINICAL JOURNAL

Conclusion:

•Cxbladder providing enhanced diagnostic outcomes not currently available from existing technology.

•Enables physicians to remove the diagnostic dilemma faced, when existing gold standard tests and

procedures are not able to determine a clear diagnostic outcome.

•This real world outcome positions Cxbladder for consideration for inclusion in other international

guidelines

18

*European Urology -has an Impact Factor Rating of 17.58 and is currently read by more than 20,000 urologists across the globe.

DEMONSTRATES SIGNIFICANT CLINICAL UTILITY OF CXBLADDER

•Diagnostic outperformance published in global number one* ranked urology journal, European Urology,

in May 2019.

Results:

•Use of Cxbladder resulted in 35% of patients avoiding cystoscopies.

•Cxbladder correctly adjudicated all atypical cytologiesand equivocal cystoscopies

SUPPORTS THE INCLUSION OF CXBLADDER IN A CLINICAL PATHWAY FOR THE INVESTIGATION OF HAEMATURIA
Published by the Canterbury District Health Board (CDHB) in the New Zealand Medical Journal (June 2019) on 571

haematuria patients.

Results:

•Cxbladder Triage had a sensitivity of 95.5% and a negative predictive value (NPV) of 98.6%.

•When combined in the new guidelines, imaging and CxbThad a sensitivity of 97.7% and NPV of 99.8%.

•All bladder cancers of significance were diagnosed by the combined use of imaging and CxbTbefore cystoscopy

was undertaken.

2019 Annual Meeting19

55

NZMJ 21 June 2019, Vol 132 No 1497

ISSN 1175-8716 © NZMA

www.nzma.org.nz/journal

Inclusion of a molecular

marker of bladder cancer

in a clinical pathway for

investigation of haematuria

may reduce the need for

cystoscopy

Peter J Davidson, Graham McGeoch, Brett Shand

T

he causes of asymptomatic haematuria

are numerous. As such the investigat-

ing algorithm for haematuria is com-

posed of a number of tests. Approximately

600 patients are accepted each year to the

Canterbury District Health Board (DHB)

Urology Department for evaluation of hae-

maturia. All referrals are accepted if they

have laboratory confi rmation of haematuria

and the investigations completed.

One of the most common important causes

of haematuria is bladder cancer. While a

number of these are detected on imaging,

the ‘gold standard’ for diagnosing bladder

cancer is cystoscopy.

1

While generally

well-tolerated by patients, fl exible cystoscopy

is uncomfortable and may have adverse

post-procedural consequences.

2,3

Anecdotally,

it is the test in the haematuria algorithm

least cherished by patients and also necessi-

tates patients seeing a specialist urologist. If

it were safe not to undertake cystoscopy in

a group of patients presenting with haema-

turia, then their work-up could potentially be

completed by clinicians other than a urol-

ogist, such as a general practitioner (GP).

The need to improve risk stratifi cation of

patients who may require cystoscopy and

imaging was emphasised in a recent review

of guidelines for assessing microhaema-

turia.

4

Numerous biomarkers have been

identifi ed in urine or blood samples that

ABSTRACT

AIM: To examine prospectively the impact of adding a urinary biomarker of bladder cancer (Cxbladder

Triage

TM

, CxbT) to a clinical pathway for investigating haematuria.

METHODS: The clinical outcome of 571 patients with haematuria who presented to their general practitioner

was reviewed. Outcome measurements included the findings of laboratory tests, imaging, cystoscopies,

histology and specialist assessments. The data were used to model a theoretical clinical pathway that

involved initial screening using CxbT


in combination with imaging, and only test positive patients being

referred for specialist assessment and cystoscopy.

RESULTS: All patients underwent cystoscopy and 44 transitional cell carcinomas were diagnosed in the

study cohort, with two low-risk cancers missed by CxbT, one of which was also not detected by imaging.

When combined, imaging and CxbT had a sensitivity of 97.7% and negative predictive value of 99.8%.

CONCLUSIONS: In our series, all significant bladder cancers were diagnosed by imaging and CxbT before

cystoscopy was undertaken. The high negative predictive value of this clinical pathway would allow

approximately one-third of patients with haematuria to be managed without cystoscopy.

ARTICLE

COMPELLING RESULTS FROM CLINICAL LOOK-BACK STUDY

Conclusions:

•The high NPV of this new clinical pathway enabled approximately one-third of patients with haematuria to be managed without cystoscopy and

other related procedures.

•Importantly, the patient with haematuria would also safely avoid the social disruption and discomfort of a secondary care visit for cystoscopy.

•The new pathway should be applicable in any health system with effective general practice or primary care and the ability to inform GPs of locally

recommended assessment and management of haematuria.

•This real world outcome positions Cxbladder for consideration for inclusion in other international guidelines.

THE OPPORTUNITY FOR
CXBLADDER

DETECTING AND MANAGING UROTHELIAL CANCER (UC)
CREATES A SIGNIFICANT HEALTHCARE CHALLENGE GLOBALLY

UC is a major global health problem:

•500,000 new cases annually

•200,000 deaths annually

•9

th

most prevalent cancer but 4

th

in men

•Highest recurrence rates of any cancer

In the USA:

•10.5 million patients present with hematuria annually and 3.4 million are

worked up to look for urothelial cancer

•81,000 new cases of UC diagnosed each year

•70% recurrence of the disease following treatment

•More than 800,000 people living with bladder cancer will present annually up

to 3 to 4 times a year for evaluation for the recurrence of UC

•Average lifetime costs of over US$240,000 per patient.

•Direct costs for bladder cancer predicted to reach $4.9 billion in 2020

NIH National Cancer Institute, 2016. Bladder Cancer Advocacy Network, 2017.

2019 Annual Meeting21

5%

are upper tract (not

including kidney)

95%

are bladder cancer

Ureter

Bladder

Kidney

Urothelial

cancer

CLINICAL PATHWAY FOR UC/BLADDER CANCER IN USA
FULL EVALUATION TESTING

DIAGNOSED WITH BLADDER CANCER

MONITORING

REFERRAL TO A SPECIALIST

Historically, diagnosis and

monitoring of bladder cancer

has involved an arduous

regime of invasive and

expensive tests over the

lifetime of the patient.

In the USA alone, up more than

5 million cystoscopies were

performed in 2018

A cystoscopy is a painful,

invasive and expensive

procedure that requires a tube

with a scope to be inserted in

to the urethra.

CANCER MANAGEMENT

EVALUATION BY PRIMARY

PHYSICIAN

STANDARD OF CARE

Due to high recurrence of bladder cancer,

patients undergo regular testing

Year One: up to six times

Year Two to Five: up to four times/year

HISTORICAL TESTING

Cxbladder Triage

Primary evaluation of haematuria

MORE THAN 60% REDUCTION

IN NEED FOR CYSTOSCOPY

Cxbladder Detect

For use by urologists to rule out UC

Cxbladder Resolve

Segregation of low grade tumours

from high grade and late stage

tumours

Cxbladder Monitor

Monitoring for recurrence of the

disease

CXBLADDER

PATIENTS DON’T LIKE INVASIVE TESTS
PATIENT COMMENTS

•“I recommend being put to sleep. Dealing with these while awake

was horrible.”

•“Asked doc for valium to relax, as anxiety is rampant and pain is

terrible.”

•“Av o i d o f f i c e c y s t o s c o p y a n d i n s i s t o n p r o c e d u r e b e i n g d o n e i n t h e

operating room under general anesthesia.”

•“Cystoscopy has to be done under general anesthesia because it is

so painful. Urination is extremely painful for two to three days

afterwards.”

•“How clean is the tool? I get a lot of infections post cystoscopy and

TURBT.”

•“Usually ends with an infection.”

•“Barbaric. Needs to be a better and more comfortable process.”

•“There has to be a better, non-invasive procedure.

My urothelial passage has been destroyed, now have a suprapubic

catheter.”

Source: Daneshmand: Bladder Cancer Advocacy Network patient survey, 2018, UROLOGY TIMES, In press.

CYSTOSCOPY PATIENTS REPORTED MODERATE TO SEVERE:

65%

DISCOMFORT

PAIN

ANXIETY

56%

38%

PATIENT FEEDBACK REGARDING CYSTOSCOPY: BCAN SURVEY IN OVER 900 US PATIENTS WITH UC

2019 Annual Meeting23

CXBLADDER: FILLING AN UNMET CLINICAL NEED
PROBLEM:

•Existing detection and management of UC

involves expensive and invasive tests.

•Performance of the existing tests and

procedures fall short of physicians’

expectations.

•Lack of confidence in most widely used

urine-based tests (eg, cytology, FISH).

•Some patients are unable to undergo

standard work-up procedures.

•Less than 40% compliance in surveillance

patients.

CXBLADDER:

•Accurate Objective Detection

•Reduces Invasiveness

•Confirms absence of UC with high NPV

•Effectively triages patients

•Replaces need for further adjunct urine-based tests in

primary workup

•Clarifies atypical or equivocal results from other tests

•Changes Clinical Practice

•Promotes Efficient Health Care Delivery

The suite of non-invasive Cxbladder tests represents a paradigm shift in performance offering physicians,

patients and payers significant increases in utility and outcomes

2019 Annual Meeting24

FY20 OUTLOOK

KEY OBJECTIVES GOWING FORWARD
SUCCESS WITH THESE OBJECTIVES WILL ADD SIGNIFICANT GROWTH TO OUR BUSINESS:

•GLOBAL REACH: Grow the number of large institutional healthcare customers globally and build on initial

sales to these organisations.

•USA: Successfully achieve the third and final USA reimbursement milestone to gain inclusion in the LCD,

upsell additional Cxbladder tests to contracted customers, and build on initial sales to the VA and other

organisations.

•NEW ZEALAND: Further accelerate the roll out of Cxbladder in New Zealand to obtain widespread contract

coverage with public health care providers (DHBs), upsell additional Cxbladder tests to each of the

contracted DHBs.

•AUSTRALIA: Replicate the successful NZ sales and marketing model in Australia to drive sales.

•SE ASIA: transition User Programmes in Singapore into commercial customers, and progress discussions with

potential strategic partners in South East Asia.

•TEST ADOPTION: Increase the commercial adoption of Cxbladder in the USA, Australia and South East Asia

markets by leveraging the clinical validation and commercial success of Cxbladder in New Zealand.

•CLINICAL EVIDENCE: Continue to build out the evidence portfolio to drive further positive reimbursement

decisions and addition to international guidelines.

2019 Annual Meeting26

5 January 2019
OUR PRIMARY FOCUS REMAINS THE USA MARKET

A SCALE OPPORTUNITY IN BOTH THE EVALUATION OF HAEMATURIA AND MONITORING FOR

RECURRENCE

2019 Annual Meeting27

*EY-Parthenon business review of the US market opportunity

UROTHELIAL AND BLADDER CANCER IN THE US

POSITIVE GROWTH OUTLOOK FOR PACIFIC EDGE
FY20 expectations are for:

•Continued growth in commercial sales from new and existing customers.

•Demand from public healthcare providers in New Zealand to grow strongly and positively impact on

laboratory throughput volumes.

•New Zealand business to be cashflow positive in FY20.

•Total operating expenses to remain in line with FY19.

•USA demand to be positively impacted from having national product specific CPT codes for Cxbladder and

a national CMS reimbursement price in place.

•Compelling clinical evidence published in top tier international journals to facilitate test adoption, coverage

and reimbursement in FY20.

2019 Annual Meeting28

Cxbladder is now covered in NCCN guidelines as an approved clinical intervention for high risk patients being

monitored for recurrence with an expected pivotal impact on US commercial sales.

SHAREHOLDER DISCUSSION
2019 Annual Meeting29

BUSINESS OF THE MEETING
2019 Annual Meeting30

RESOLUTIONS
Resolution 1: That Chris Gallaher, who retires by rotation and is eligible for re-election, be re-

elected as a Director of the Company.

Resolution 2: That David Levison, who retires by rotation and is eligible for re-election, be re-

elected as a Director of the Company.

Resolution 3: That Sarah Park, who was appointed as a Director by the Board during the year, be

elected as a Director of the Company.

Resolution 4: That John Duncan, who was appointed as a Director by the Board during the year, be

elected as a Director of the Company.

Resolution 5: To record the re-appointment of PricewaterhouseCoopers as auditor of the Company

and to authorise the Directors to fix the auditors’ remuneration for the ensuing year.

Resolution 6: That the Company revoke its existing Constitution and adopt a new Constitution in

the form and manner described in the Explanatory Notes, with effect from the close of the Annual

Meeting.

2019 Annual Meeting

Slide 31

PROXIES AND VOTING
We have received the following valid votes and proxies:

PROXIES AND POSTAL VOTES

FORAGAINSTDISCRETIONARYVALID

VOTES/PROXIES

RECEIVED

% OF TOTAL

ISSUED CAPITAL

1Re-election of Chris Gallaher192,616,6832,365,0983,129,581198,111,36238.78%

2Re-election of David Levison192,758,1262,223,6553,129,581198,111,36238.78%

3Election of Sarah Park192,843,5622,135,2373,084,397198,063,19638.77%

4Election of John Duncan192,671,2822,307,5173,084,397198,063,19638.77%

5Authorisationto fix the auditors’

remuneration

194,677,638349,3273,084,397198,111,36238.78%

6Adopt a new Constitution194,401,31223,0603,129,581197,553,95338.67%

Voting instructions for those voting online are available at: http://www.linkissuers.co.nz/VirtualAnnualMeeting/OnlinePortalGuide.pdf

2019 Annual Meeting32

OTHER BUSINESS
2019 Annual Meeting33

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

CLOSE OF THE MEETING

Presentations are available at www.pacificedgedx.com

DISCLAIMER
2019 Annual Meeting35

Information

The information in this presentation is an overview and does not contain all information necessary to make an investment decision. It is intended to constitute a

summary of certain information relating to the performance of Pacific Edge Limited . The information in this presentation is of a general nature and does not purport

to be complete. This presentation should be read in conjunction with Pacific Edge's other periodic and continuous disclosure announcements, which are available at

nzx.com.

Not financial product advice

This presentation is for information purposes only and is not financial or investment advice or a recommendation to acquire Pacific Edge securities, and has been

prepared without taking into account the objectives, financial situation or needs of individuals. Pacific Edge, its directorsand employees do not give or make any

recommendation or opinion in relation to acquiring or disposing of shares. In making an investment decision, investors must relyon their own examination of Pacific

Edge, including the merits and risks involved. Investors should consult with their own legal, tax, business and/or financial advisors in connection with any acquisition of

securities.

Future performance

This presentation contains certain 'forward-looking statements', for example statements concerning the development and commercialisation of new products,

regulatory approvals, customer adoption and results of future clinical studies. Forward-looking statements can generally be identified by the use of forward-looking

words such as, 'expect', 'anticipate', 'likely', 'intend', 'could', 'may', 'predict', 'plan', 'propose', 'will', 'believe', 'forecast', 'estimate', 'target', 'outlook', 'guidance' and

other similar expressions. The forward-looking statements contained in this presentation are not guarantees or predictions of future performance and involve known

and unknown risks and uncertainties and other factors, many of which are beyond the control of Pacific Edge and may involve significant elements of subjective

judgement and assumptions as to future events which may or may not be correct. There can be no assurance that actual outcomes will not materially differ from

these forward-looking statements. A number of important factors could cause actual results or performance to differ materially from the forward-looking statements.

The forward-looking statements are based on information available to Pacific Edge as at the date of this presentation. Except as required by law or regulation

(including the NZX Main Board Listing Rules), Pacific Edge undertakes no obligation to provide any additional or updated information whether as a result of new

information, future events or results or otherwise.

No representation

To the maximum extent permitted by law, Pacific Edge and its advisers, affiliates, related bodies corporate, directors, officers, partners, employees and agents make no

representation or warranty, express or implied, as to the currency, accuracy, reliability or completeness of information in thispresentation.

Data sourced from publicly available filings. Our datasets may not be complete. Automated analysis can produce errors. If you believe any data on this page is incorrect, please contact us at hello@nzxplorer.co.nz. For informational purposes only. Not investment advice.