Truscreen Investor Presentation

INVESTOR PRESENTATION
April 2020
(NZX: TRU)

A world without cervical cancer
Cervical Cancer can and should be prevented.
Truscreenprovides an accurate, real time screening solution.
Our screening solution is ideal for communities that can’t
access conventional laboratory-enabled screening methods.
It is affordable and easy to learn.
Our purpose is to ensure that all women of screening age –no
matter who they are –can have access to quality screening.
2

Cervical cancer
is a major public health issue
Fourth most common cancer, affecting women
►570,000 new cases each year
►311,000 deaths p.a.
Young women in low and middle income
countries (LMIC) are most at risk
►Most diagnoses occur at age 35-44
►85% of cases and 87% of deaths occur in LMICs
1BN+ women of screening age in LMICs –this is our focus
3

90% coverage of HPV
Vaccination of girls
(by 15 years of age);
WHO has set a
target to eliminate
cervical cancer by
the end of the
century
WHO GLOBALTARGETS FOR 2030
70% coverage of screening
(70% of women are
screened with high-
performance tests by the
ages of 35 and 45 years)
and 90% treatment of
precancerous lesions;
Management of
90%of invasive
cancer cases







4

►LMICs –lowest screening rates, highest
incidence and mortality rates
►Innovative service delivery models are required,
if LMICs are to meet screening targets
►TruScreen’sdisruptive model offers this
•No reliance on lab infrastructure
•Accurate real time screening
•Easy to learn
•Affordable
►TruScreen already has a presence in many
of these markets –and the support of Key
Opinion Leaders, NGOs and government
organisations
The opportunity for
TruScreen
5

Access to screening
programs has been
limited due to:
TruScreen’s
solution is
ideal for
LMICs
Access to ‘’no lab’’,
accurate, simple to use
and affordable
screeningessential
TRUSCREEN HAS CLOSE TO 1bln WOMEN ELIGIBLE FOR
SCREENING IN KEY MARKETS
Russia (44m)
China (401M)
Middle East
(70M)
Vietnam (30M)
Zimbabwe (4M)
TruScreen’scurrent markets
Targeting commercial roll-out
►Lack of laboratory
infrastructure
►No HPV vaccination
programs
►Shortage of diagnostic
technicians
Mexico (31m)
India (302M)
6

Investment highlights
The onlyreal-time cervical screening method available in LMICs
Disruptive technology, high potential
Clinical and commercial validation
Attractive commercial modelPoised for growth
►Real-time, single visit, mobile screening
technology
►No lab infrastructure required, nurse
administered
►Recognisedby WHO, UNITAID and the Clinton
Health Access Initiative
►Sensitivity and specificity equal to, or better, than
alternative screening tools
►Clinically tested on over 40,000 women in 25
studies across 20 countries
►Established user base / KOL support in key markets
►Targeting large markets
►Lean distributor-based model
►Annuity revenue stream
►Ramping up in existing markets to deliver sales
growth amid COVID impact
►New markets (India, Vietnam) coming on board
►Manufacturing process enhancements to deliver
double-digit margin improvement
7

17. 4 %
8.8%
7. 3 %
5.3%
$0.10 (as at 23 April 2020)
$1M (as at 31 March 2020)
Consolidated Nominees
Browns Island Holdings Ltd
Waitara Trustees Limited
NZ Central Securities
Market cap
Share price
Cash position
NZ$21.1M (as at 23 April 2020)
Significant
shareholders
Financial overview ($NZD)
8
0.0 m
0.1 m
0.2 m
0.3 m
0.4 m
0.5 m
0.6 m
0.7 m
0.8 m
0.9 m
1.0 m
0.04
0.06
0.08
0.1
0.12
0.14
0.16
0.18
0.2
Apr-19Jun-19Aug-19Oct-19Dec-19Feb-20Apr-20
Volume (m)
Share price ($)
Volume

Charging station
TruScreen
Device
Single Use Sensor
(SUS)
How it works
►Low electrical charge and light
examines the cervix’s surface
►Uses algorithm to determine
if cervix tissue is normal or
abnormal
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Competitive advantage
Patients
►Real-time results
►Painless
►Non-Invasive
TRUSCREEN
Clinics
►Objective readings
►Minimal training
►Cost effective
►Single visit
►Portable
Technology
►No requirement for lab
►User-friendly
►Accurate readings
PAP
Patients
►Repeat visit
►Scraping of cervix
Clinics
►Widely varying accuracy
►Human error
►Labour intensive
►Long wait times
(days/weeks/months)
►Vaccines don’t cover all
►HPV types
Technology
10

Compelling market opportunity
End customers
►NZD $166M
addressable market
p.a.*
►SUS creates annuity
revenue
►Co-investment
model with
distributors, lean
organizational
structure
TruScreen’slocal
distributors target:
►Public hospitals
►Private hospitals
►Public health
initiatives
►Governments
►Non-Government
Organisations
TruScreendevice
Single Use Sensors
(SUS)
*
Based on TruScreenachieving 5 per cent market share of developing markets’ cervical cancer screening age population screened once every three years
11
Sustainable ‘razor-blade’ revenue model

12
Video: Acceptance in one of our core markets (Russia)
Please click on the following link toupload the video, or copy and paste the link to your browser
https://truscreen.com/news/truscreen-market-acceptance-russia/

Listing on
NZAX
2014 Nov
2 017 D ec
CFDA approval for
second generation
device
Listing on
NZAX
2018 Jul
2018 Jul
Commence large
scale pilot with China
CDC and COGA
523%sales
growth in H1
2018 Oct
2018 Dec
Migration to NZX
Recognition
by World
Health
Organization
2019 May
2019 Sep
China COGA study
first screening results
exceed expectations
•Strengthen / growing team
•RecoveryCOVID-19
•Margin improvement
•Further roll-out in China &
Russia
•Setting commercial roll-out
in Vietnam and India
2020 -20222022 & onwards
•Rollout Gen3 device
•Rapid non-linear sales
growth
•Company growth to support
the sales
•Strategic partnerships
Setting the fundamentals Transformation
Rapid growth
2014 -2019
13
Our commercialization journey

Drive adoption in
established markets and
new markets
►Continue roll-out in more
established markets
(China, Russia, Zimbabwe)
►Drive adoption and
prepare roll-out in India
and Vietnam based on
successful clinical trials
finalized recently
►Seed in promising LMIC
markets (Eastern Europe,
Asia Pacific)
Relentless focus on
product quality and
innovation
►New Quality Assurance
(QA) systems
implementation
►Ongoing improvement of
device in line with
feedback from markets
►Generation 3 product
development and launch
Expanding clinical support
►New clinical publications
under MAC supervision
►Continue local trials to
ensure local KOL support
►Launch online education
module with certification
to prepare the company
for rapid expansion
Enhance team capabilities
►Hiring of high profile
executives with expertise
in medical devices / LMIC
markets (CEO, CTO)
►Leverage digital solutions
for QA, training &
education, sales support
►Grow the team in line with
sales progress/business
needs
►Establish on-going team
upskilling
14
Growth Strategy

China –Most Advanced Market & Largest
Opportunity
►Truscreen’slargest market (57% of sales)
►World’s largest cervical cancer market
►First distribution agreements signed in 2014
►Pilot program of 20,000 women with Centre
for Disease Control (CDC)
►Clinical study with Chinese Obstetricians &
Gynaecologists Association (COGA) of 20,000
women in public hospitals –results from
Hunan province released and exceeded
expectations
►Hospital usage of SUS: Up to 1,000 per month
Market
Screening
population
NGO/KOL
engagement
Pilot
program
Distribution/
sales
commenced
Number of
devices
installed
China
401MYesYesYes49
Mexico31MYesYesYes10
Russia44MYesYesYes29
India300MYesYesNo0
Zimbabwe
30MYesYesNo0
Vietnam26MYesYesNo0
Key Markets
15
Key markets

Key variances
Revenue
Gross Profit
Research and
Development
Marketing
►Initiated major initiativefor SUS cost reduction,
signinglong-term contract with SUS supplier
►Optimising total overheads via revisiting the external
suppliers network and ruthless prioritization of activities
►R&D costs reducing as product matures
►Investment in business capability and people
►Negatively impacted by COVID-19
►Chinese business gradually recovering after COVID-19
outbreak, expect improvement from Q2 2020
►R&D 2020 includes positive adjustment from 2019
Operating
EBITA
►Improved in 2020 with lower R&D spend and benefit of
positive adjustment on 2019 R&D receipt
KEY FINANCIALS
NZD (m)
FY17
Actual
FY18
Actual
FY19
Actual
FY20
Estimate
% Change
FY20/FY19
Sales0.60.81.91.3- 40%
Total Revenue
1.42.23.12.5- 19%
COGS
.47.741.40.9-
R&D
1.21.91.70.9-
Marketing
.56.39.29.47-
G&a
2.12.72.52.8-
EBITDA
(3.0)(3.6)(2.8)(1.7)+40%
Net Assets
14.311.611.39.8
Cash
and Cash
Equivalents
3.71.21.71.0-60%
Net Assets
►Net assets subject to audit review of carrying value of
intangibles given uncertainty of COVID-19
16
Financials

$0
$500,000
$1,000,000
$1,500,000
$2,000,000
$2,500,000
$3,000,000
$3,500,000
20192020
Total revenue
$1,200,000
$1,230,000
$1,260,000
20192020
R&D Income
$0
$200,000
$400,000
$600,000
$800,000
$1,000,000
20192020
Device revenue
$0
$200,000
$400,000
$600,000
$800,000
$1,000,000
$1,200,000
20192020
Consumables (SUS)
Full-Service Distribution Chanel
•SUS revenue will grow at a higher rate
thanDevicerevenue
•SUSrevenue will become a sustainable
recurring revenue stream
•The device has an expected lifetime
of 5-7 years and the SUS is used
once per test per patient
0 yrs.5 yrs.
Device
SUS
Device and SUS Revenue
Revenue, $NZ

18
►“Return to normal” in China –supporting business as
China recovers from COVID-19
►Implementation of improved electronic quality assurance
system
►Hire Chief Technology Officer
►Overhead reduction program via review of all external
suppliers and revisit priority activities
►SUS cost reduction program initiated > new contract terms
with SUS supplier, long-term agreement
►Continue to prepare for dual ASX listing
Milestones: Near-term
Business transformation underway

19
►Targeting double-digit percentage revenue growth despite
COVID-19 impact
►Further roll-out in China to reach installed devices
base of min 70 hospitals (+43% vs 2020)
►Continue with the roll-out in Russia and initiate the
roll-out in Vietnam and India
►Implementation of a comprehensive device traceability QA
system
►Achieve double digit percentage reduction of SUS cost to
boost GP
►Commence local device assembly in China
►Generation 3 development > improved product design in
line with customers’ feedback
Milestones: Next 12 months
Focus on rapid non-linear sales growth once
COVID-19 restrictions are lifted

CEO
VictoriaPotarina
►More than 20 years
commercial experience
►Previously worked at
Johnson and Johnson
across UK andEurope
►Heldpositions atmultiple
multinational companies in
theFMCG, over-the-
counter, medical devices
and healthcare sectors
CFO
Guy Robertson
►Chartered accountant with
30 years financial
management
and leadership experience
►CFO & Company Secretary
for TruScreen
GM International BD
Dr Jerry Tan
►Qualified gynaecologist
►Extensive experience in
China, and East Asia
►Oversees distributors,
market evaluation and
clinical trials
Chief Technology
Officer
►Expert in Healthcare
Compliance including
medical device licensing
and quality assurance
►Responsible for
manufacturing, research
and development,
registrations and quality
assurance
GM Quality &
Regulatory Compliance
Paul Curran
►Key role to be hired
20
Invigorated and experienced executive team

Chairman
Tony Ho
►Non-executive chairman of
Greenland Minerals (ASX:
GGG) and Bioxyne
(ASX:BXN)
►Chairmen of Cannasouth
Limited (NZX: CBD)
►Past NED of Hastings
Technology Metals
(ASX:HAS) and Brazin
(ASX:BRZ)
Non Executive Director
Christopher Horn
►Chair of Audit, Finance and
Risk Committee
►20 years as a partner of
KPMG and its predecessor
firms.
Non Executive Director
Chris Lawrence
►Experienced life science
and biotech investor
►Strong experience in high
growth companies,
particularly in biotech
sector
►Member of Audit, Finance
and Risk Committee
►Senior healthcare
executive with 30+ years
experience
in international and
medical device businesses
Non Executive Director
Con Hickey
21
Board of directors with extensive experience

Contacts
Tony Ho, Chairman
Victoria Potarina, CEO
Guy Robertson, CFO
www.truscreen.com
E: victoriapotarina@truscreen.com
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APPENDIX
23

Market entry and
development
Build awareness
•Key opinion leader (KOL) engagement and
endorsement
•Medical conferences
•Clinical trials/studies
Expand global footprint
•Local distributorstrategy
•Public health initiatives
•Partnerships with Non-Government Organisationsand
Government agencies
Technology transfer to key markets

Doctor acceptance
(1)
•152 women surveyed at the Whittington Hospital,
London
82% preferred TruScreen
•2% preferred the Pap smear
•Main factors cited for TruScreenpreference were
immediate results, less pain or discomfort
•> 60% of doctors rated TruScreenat 4 – 5 out of 5
•The two main advantages cited were TruScreen’s
real time results and the absence of a need for
laboratory facilities and personnel
Patient acceptance
(2)
20
16
12
8
4
0
a.. Real-time results-
Patients are not lost to
follow-up
b. No laboratory
facilities or trained
cytologists needed
c. Objective, self-
checking procedures
ensure consistent and
reproducible results
d. High accuracy
and earlier
detection of
precancerous
lesions
e. Non-
invasive, less
discomfort to
women
25
Acceptance of TruScreen

TruScreen1 at Guadalajara (2016)Sensitivity to CIN2+ 78%Specificity 64%
TruScreen1 atLi Xia et al in China (2011)Sensitivity to CIN2+ 81.7%Specificity 79.6%
TruScreen1at Guangdong China (2010)Sensitivity to CIN2+ 78.8%Specificity 74.4%
TruScreen1 in Shandong China (2010)Sensitivity to CIN2+ 75%Specificity 85%
TruScreen’sperformance
Interim results RHW (2017): Excellent. 93% Negative Predictive Value
Interim results Hunan China (2019): Sensitivity: 89.29%; Specificity: 87.17%
PAP and HPV in TruScreen’smarkets – Sensitivity to CIN2+
Guadalajara (2016)HPV DNA 56%PAP 36%
TruScreenin Hunan China (2019)
HPV DNA 92.86%PAP 67.87%
TruScreen1at Guangdong China (2010)
PAP 42.2%
TruScreen1 in Shandong China (2010)
PAP 43%
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Clinical Data

Professor Neville Hacker AM
•Professor Neville Hacker is conjoint Professor of Gynaecological
Oncology at the University of New South Wales and recently retired
from clinical practice after 32 years as the director of the
GynaecologicalCancer Centre, Royal Hospital for Women in Sydney,
where he continues to serve as an Emeritus Consultant.
•Heisa pastPresidentoftheSocietyofPelvicSurgeons. Heisa past
PresidentoftheInternationalGynaecologicalCancerSociety,former
ChairmanoftheOncologyCommitteeoftheRANZCOG,anda former
ChairmanofExaminersforGynaecologicOncology,RANZCOG.
Clinical Advisory - Professor of Gynaecological
Oncology
Colonel (Dr.) Michael J. Campion –
Chairman
•Colonel(Dr.) MichaelJ. Campionis a SeniorStaffSpecialistandHeadof
thePreInvasiveClinicattheGynaecologicalCancerCentreoftheRoyal
HospitalforWomeninSydneyandisa ConjointAssociateProfessor,
SchoolofWomen’sandChildren’sHealth,attheUniversityofNewSouth
Wales.Hehasover30years’experienceasaqualifiedmedical
practitionerandover20yearsofexperienceasanexpertcolposcopist.
•Inaddition,Dr. Campionis theDirector,HealthServicesArmyReserve–
EasternRegionfortheRoyalAustralianArmyMedicalCorpsandis both
aBoardmemberandNationalHospitaller,StJohnAmbulance,
Australia. Dr. Campionhaswrittennumerouspeerreviewedpapersand
chaptersoncervicalcancer,includingpapersonTruScreen.
RAAMC, CStJ, KM, KCHS, KLJ
27
Experienced medical advisory board

Intellectual property
•TruScreenuses trade secrets to ensure protection against IP
infringement
•Enumerated in the appendices to the Marrakesh Agreement
which established the World Trade Organisation
•Electro Optical Assembly
•Firmware
•Circuit Design and Printed Wire Assemblies (electronics)
•Single Use Sensor
•Algorithm
•Trademarks
•All testing protocol and manufacturing specifications
•China:
•Patent - Apparatus for Tissue Recognition Using Multiple Measurement
(ZL201210439914.9)
•Trademarks for “TruScreen” and “SUS” (English and Chinese equivalent)
IP coverage:
28

Disclaimers
This presentation should be viewed in conjunction with TruScreen’sFinancial Statements for the 12 months to 31 March 2019 and the accompanying NZX release. The information presented is a snapshot and does not contain
supporting information necessary to make an investment decision. It is not intended to act as a recommendation to acquire TruScreenshares. There can be no assurance that actual outcomes will not materially differ from the
forward looking statements presented. 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 TruScreenas at the date of this presentation. Except as required by law (including the NZAX Listing Rules), TruScreenundertakes no obligation to provide any additional or updated information whether as a result of new
information, future events or results or otherwise. TruScreen, its advisers, affiliates, related bodies corporate, directors, officers, partners, employees and agents make no representationor warranty, express or implied, as to the
currency, accuracy, reliability or completeness of information in this presentation.
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