Annual Report 2023

ANNUAL REPORT
FOR THE YEAR ENDED 31 MARCH 2023

Highlights 4
Chairman’s Report 6
Chief Executive Officer’s Report 10
Pacific Edge Snapshot 16
Clinical Evidence 18
Board and Management 20
Consolidated Financial Statements 24
Independent Auditor's Report 58
Corporate Governance 63
Remuneration 74
Risk Analysis 79
Statutory Information 82
Company Directory 87
This report provides a summary review of Pacific Edge’s operational and financial performance for
the year to 31 March 2023. It should be read in conjunction with the company’s financial statements
on pages 24 to 57 of this report.
We consider the information included in this Annual Report to be materially consistent with the
information disclosed in the financial statements. However, note that it includes information about
the LCD decision that was announced after the financial statements were issued and that is different
from the expected outcome as disclosed in Note 25 at the time the financial statements were signed.
Throughout this report we have focused on what we believe matters most to our stakeholders
and our business. Our aim is to provide easily understood, transparent and engaging disclosures
for our shareholders that describe our business, what we do and why we do it. The information in
this report has been compiled in accordance with relevant law, rules, and corporate governance
recommendations for investor reporting. Financial information has been prepared in accordance with
appropriate accounting standards and has been audited by PwC.
An electronic version of this report is available on the investor section of our website
www.pacificedgedx.com
Pacific Edge Limited is a global cancer
diagnostics company leading the way in
the development and commercialization of
bladder cancer diagnostic and prognostic
tests for patients presenting with hematuria or
surveillance of recurrent disease.
Headquartered in Dunedin, New Zealand, with
shares listed on the NZX and the ASX under
the ticker code PEB, the company provides its
suite of Cxbladder tests globally through its
wholly owned, and CLIA certified, laboratories
in New Zealand and the USA.
CONTENTS
PACIFIC EDGE LIMITED ANNUAL REPORT 2023 3

ANNUAL FINANCIAL AND OPERATING HIGHLIGHTS
BUILDING MOMENTUM AHEAD OF
ADVERSE MEDICARE DECISION
Pacific Edge delivered strong growth in revenue and the adoption of its suite of
Cxbladder tests in the year to 31 March 2023. However, since the year end after the
signing of the financial statements and prior to publishing this report, these successes
have been significantly overshadowed with an adverse coverage determination that is
expected to result in the ceasing of payment for our Cxbladder tests by Medicare, the
US national health insurance provider, effective 17 July 2023.
PACIFIC EDGE REGIONAL
REVENUE SPLIT
$26.1M
TOTAL REVENUE

88%
$19.6M
ANNUAL OPERATING REVENUE

71%
31,565
TOTAL LABORATORY THROUGHPUT
OF CXBLADDER TESTS


37%
26,691
COMMERCIAL TESTS

39%
$27.0M
NET LOSS AFTER TAX
$77.8M
CASH AND
CASH EQUIVALENTS
FY 23
4%
96%
FY 22
■

APAC
■
USA
■

1H
■
2H
■

1H
■
2H
PACIFIC EDGE OPERATING REVENUE
GLOBAL TEST VOLUMES (TLT)
0
16,861
15,814
23,086
FY 20FY 21FY 22FY 23
5,000
10,000
15,000
20,000
25,000
30,000
35,000
TESTS
31,565
8,714
8,950
11,950
16,645
8,147
6,864
11,136
14,920

37%

71%
$0
$4,370
$7,701
$11,445
$19,616
FY 20FY 21FY 22FY 23
$5,000
$10,000
$15,000
$20,000
$(000)
$2,085
$4,375
$6,067
$10,909
$2,285
$3,326
$5,378
$8,707
7%
93%
PACIFIC EDGE LIMITED ANNUAL REPORT 2023 54 PACIFIC EDGE LIMITED ANNUAL REPORT 2023

This Local Coverage
Determination (LCD) by Novitas,
the Medicare Administrative
Contractor (MAC) with
jurisdiction over our US
laboratory, is now our principal
focus. It is expected to have a
significant impact.
In the year to 31 March 2023,
tests processed through our
laboratory for Medicare and
Medicare Advantage patients
represented ~60% of US
commercial test volumes and
generated ~$15.3 million, or 77.3%,
of Pacific Edge’s FY 23 total
operating revenue.
The LCD has consequently
prompted the Board and
Management to advance the
scenario planning commenced
last year to determine the optimal
path forward.
We discuss this program in
more detail below, but in light of
this review and the significant
impact of the LCD on the
company, we believe this annual
report must focus on explaining
to shareholders how we are
dealing with the new reality we
face. Consequently, we have
pared back the content of the
report to focus on the LCD and
our response to it. This means
a shorter and more succinct
document than you have seen
from us in the past.
Our aim is to leave you with a
good sense for why Directors and
Management continue to believe:
• Cxbladder is a world-leading
technology that delivers
clinically actionable and
valuable information that
can contribute to meaningful
improvements in cancer
treatment and improve
healthcare equity across
populations and healthcare
outcomes for patients
• CxBladder continues to be
adopted by leading medical
institutions, including Kaiser
Permanente, our largest US
customer, on whom Novitas
has no influence
• The clinical evidence
supporting the utility of
Cxbladder is strong. It has
been reviewed by some of
the world’s leading urologists
and published in some of
the world’s most respected
urology journals
• The necessary changes to
successfully chart a path
forward to guidelines inclusion
for standards of care was
already a priority for the
business and the timelines
for those studies to complete
is already established in our
clinical evidence roadmap
• The company still enjoys
market opportunities in the US
and around the world
We want to assure you that we
are leaving no stone unturned to
realize the potential of Cxbladder
and we are committed to keeping
you informed as we progress.
FINANCIAL RESULTS
In the year to 31 March 2023,
reflecting the growing awareness
and adoption of Cxbladder,
operating revenue, the income
generated from Cxbladder test
sales, increased 71% to $19.6
million from $11.4 million in the
prior financial year. Revenue
growth followed a 39% increase
in commercial tests to 26,691
from 19,196 tests in the prior year,
with US commercial test numbers
growing 46% to 23,072 from
15,752 for FY 22.
CHAIRMAN’S REPORT
MEDICARE DETERMINATION
CHANGES THE LANDSCAPE
FOR PACIFIC EDGE
Dear Shareholders
At the end of the 2023 financial year, your Board was looking forward to sharing
the progress we had made driving the adoption of Cxbladder, increased revenue
and shareholder value. However, this report is being written in the days immediately
after the release in June 2023 of a regulatory determination that is likely to see
coverage of our tests by Medicare, the US national health insurance provider, cease.
PACIFIC EDGE LIMITED ANNUAL REPORT 2023 76 PACIFIC EDGE LIMITED ANNUAL REPORT 2023

Favorable exchange rate
movements also positively
impacted FY 23 operating
revenue. Without this favorable
movement, operating revenue
increased 55% on the prior year.
As first reported in our Q4
FY 23 shareholder update in
April 2023, total test volumes for
FY 23 rose to 31,565, a 37%
increase on the 23,086 tests
processed in FY 22. Total
revenue, which includes
government grants and other
income, increased 88% to $26.1
million from $13.9 million in the
prior financial year assisted by
higher interest income, up $2.2
million to $2.8 million and foreign
exchange gains, up $2.1 million to
$2.3 million.
Our net loss after tax increased
to $27.0 million, from $19.7
million in the prior financial
year. This result followed a
58% increase in net operating
expenses to $53.1 million from
$33.7 million in the prior financial
year as the company invested
in growth, particularly in the US
market.
The investment program we
pursued included new hires in
direct sales, marketing, and sales
support. We also introduced
new capability into the business
including the creation of a
Medical Affairs team, tasked
with engaging the key opinion
leaders in urology that exert
significant influence over the
adoption of Cxbladder tests by
healthcare providers and payers,
and an expanded Market Access
team charged with among other
things gaining payer coverage.
Critically, we also expanded our
investment in the development
of high-quality clinical evidence
and the communication of that
evidence to key opinion leaders,
guidelines committee members,
and the wider urological
community. This approach is
expected to be the best offence
and defense with respect
to gaining initial coverage,
regaining lost coverage,
appealing coverage denials, and
gaining the support of guidelines
committees for inclusion of our
Cxbladder tests.
The strength of our balance
sheet at 31 March 2023 is
testament to our prudent
approach to this program. Cash,
cash equivalents and short-term
deposits on 31 March 2023 were
$77.8 million, compared to $93.5
million at the end of September
2022 and $105.4 million at the
end of March 2022. Pacific Edge
has the financial resources and
people to determine our path
forward to recovery from this
setback and continues to seek to
drive value for our shareholders.
STRATEGIC REVIEW
Chief Executive Officer Dr Peter
Meintjes will address the details
of the Novitas determination and
our response to it in his report
to shareholders on the following
pages. Instead, I want to focus
on the terms of our strategic
review and the criteria we are
using to determine the best
steps forward.
In light of the draft released
a year ago, Pacific Edge has
worked to ensure resilience in
the face of potential regulatory
change in combination with our
focus on driving test adoption
and revenue growth. These
changes were a key rationale
for establishing a US-based
Medical Affairs team, magnifying
our focus on Market Access
initiatives, and reconfiguring
our clinical evidence generation
program in New Zealand.
Now that we have a finalized
LCD from Novitas, the Board
and Management Team are
exploring the full range of
alternatives to a) overturn or
delay the LCD, including, but
not limited to legal challenges
or appeals; b) regain coverage
through Novitas or through
an alternative MAC; c) initiate
alternative billing practices
that would increase patient
responsibility; and d) consider
other strategic alternatives,
including partnerships with
other large biotech businesses
with strategic interests aligned
with Pacific Edge. We have also
moved to contain costs.
It is too early to determine
what these alternatives may
offer for shareholders, our
people, our US clinicians and
their patients. At this time, what
we can say with confidence is
that the options we pursue will
be assessed against several key
factors including: the potential
impact of any strategy on Pacific
Edge’s revenue, its expenditure,
and its cash reserves. They will
also be considered against the
time and resources required to
regain coverage, the implications
on shareholder value, and of
course the expected likelihood of
success.
Your Board and Management
Team are committed to keeping
you informed of the outcome of
this review and any update in our
strategy.
OUR PEOPLE
Our rapid expansion through
the last year coupled with new
leadership under Peter and the
recruitment of people into the
business has amounted to a year
of significant change for the
company and our staff. With the
Novitas determination we are
drawing heavily on the new staff
that we have attracted into our
business.
Directors are proud of the
way our team has risen to the
challenge through the year. They
have welcomed new colleagues
and embraced new ways of
doing things. More recently,
they have responded to the
Novitas determination with
pragmatism and resolve. On
behalf of the Board we thank
Peter, his leadership team, and
all our staff for their commitment
to, and enthusiasm for, realizing
the company’s vision and the
significant growth opportunities
it enjoys.
OUTLOOK
Pacific Edge remains committed
to delivering on the significant
potential we see for the business.
We are facing a company-
defining moment. However,
your Directors are confident
that we can overcome the new
hurdles we face, by leveraging
our clinical evidence generation
program, our strong balance
sheet, and of course our talented
teams in New Zealand and
the US.
We are looking forward to
meeting shareholders at our
Annual Meeting in Auckland on
27 July 2023 where we expect
to provide more detail on the
steps we are taking to move the
company forward.
We look forward to seeing you
there.
With my warm regards,
Chris Gallaher
Chairman
"Cxbladder is a
world-leading
technology that
delivers clinically
actionable
and valuable
information that
can... improve
healthcare equity
across populations
and healthcare
outcomes for
patients."
PACIFIC EDGE LIMITED ANNUAL REPORT 2023 98 PACIFIC EDGE LIMITED ANNUAL REPORT 2023

My aim in this report is to
provide details on the Novitas
determination, the views we
acknowledge and the views
we refute, and our approach
to overcoming this ‘company
defining’ moment. I am confident
about the future for Cxbladder.
It is world-leading technology.
It is supported by strong clinical
evidence and a talented team, and
I remain committed to realizing
the opportunities it offers.
THE NOVITAS DECISION
The uncertainty over Medicare
coverage first emerged in June
2022 when Novitas proposed
a new approach to Cxbladder
coverage in a draft LCD that
outsourced clinical evidence
decisions to three third party
databases
1
. Cxbladder was not
mentioned in that initial draft,
and we believed our Medicare
coverage would be unaffected.
Then in July 2022 Novitas
released a revised draft of the
LCD that explicitly excluded
Cxbladder from Medicare
coverage. The advice we received
at that time from multiple sources
was that the draft LCD had a
low chance of succeeding, was
unprecedented and potentially
unlawful given the emphasis of
the 21st Century Cures Act on
innovative diagnostic tools.
With key opinion leading
customers, other diagnostic
companies, the patient advocacy
group BCAN (Bladder Cancer
Advocacy Network) and C21
(the Coalition for 21st Century
Medicine
2
), we submitted written
comments for consideration,
supported by in person
representations. On 2 June 2023,
despite these representations,
Novitas finalized the draft LCD
noting multiple tests, including
Cxbladder Triage, Detect, Monitor,
Resolve and Detect
+
were ‘not
considered medically reasonable
and necessary’ and therefore
did not meet the threshold for
coverage under the US Social
Security Act.
All those with whom we
cooperated to seek a revision
of the LCD were surprised and
disappointed by it. The LCD
materially misunderstands the
important role that biomarkers
can play in ‘first line’ diagnostics
for risk stratifying patients with
hematuria into those that would
benefit from further potentially
more invasive medical attention
and those that would not.
Of greater procedural concern,
Novitas included in the LCD
a technical assessment of
our clinical evidence that
predominantly emphasized
negative comments in early
Cxbladder publications,
mischaracterizing what
are complicated issues or
confounding factors with our
evidence that were addressed
in subsequent publications and
routine commercial testing.
Finally, and in breach of its
own program integrity manual,
Novitas gave Pacific Edge no
opportunity to comment on the
technical assessment.
Pacific Edge maintains
this determination from
Novitas is not in the interest
of physicians, as the clinical
value of Cxbladder has been
repeatedly demonstrated in
patient management. Similarly, it
is not in the interests of patients
who deserve improvements to
the standard of care with non-
invasive, high-performing tests
such as Cxbladder that can
give them the peace of mind
that blood in their urine is not
attributable to bladder cancer or
that prior disease has recurred.
CHIEF EXECUTIVE OFFICER'S REPORT
SETTING A PATH FOR RECOVERY
Dear Shareholders
My first full financial year leading Pacific Edge has been marked by enormous
change, including growth in revenue and perhaps most importantly increasing
enthusiasm for, and recognition of, the clinical value of Cxbladder. The sense of
achievement the Pacific Edge leadership team has felt for the progress we have
made has been more recently overshadowed by Novitas finalizing an LCD that is
expected to see Medicare coverage of our tests cease.
1
Clinical Genome Resource; National Comprehensive Cancer Network; Oncology Knowledge Base.
2
An industry group representing some of the world’s most innovative diagnostic technology companies, clinical laboratories,
researchers, physicians, venture capitalists, and patient advocacy groups.
PACIFIC EDGE LIMITED ANNUAL REPORT 2023
1110 PACIFIC EDGE LIMITED ANNUAL REPORT 2023

OUR CLINICAL EVIDENCE
As we have consistently noted, our
clinical evidence is at the foundation
of Pacific Edge’s shareholder value.
All our data has been peer reviewed
and published in some of the
world’s leading urological journals.
It provides strong support for our
conviction on the clinical value of
Cxbladder.
The evidence review in the
determination has done a disservice
to the company and all the clinical
trials and research partners that
worked hard to deliver the Cxbladder
clinical evidence over the last 15
years. It does not acknowledge the
support Cxbladder is attracting from
urologists in the US and around the
world that is explicitly derived from
the clinical value it offers. In Q4 23,
1,150 separate US clinicians ordered
Cxbladder because they believed
them medically necessary to better
manage their patients. Meanwhile,
Cxbladder global test volume has
risen at a compound annual growth
rate of 41% over the last two years to
reach 31,565 tests in FY 23.
Molecular diagnostics is a
developing field, and this LCD has
made an unprecedented move to
change the threshold regarding
what’s acceptable evidence and
what’s not, by relying on third-party
databases that do not adequately
cover the current standard of
care in bladder cancer diagnosis.
Consequently, Novitas does not
appear to acknowledge that Pacific
Edge’s products improve the
standard of care.
Specifically, Novitas does
not consider hematuria as a
substantiated suspicion of bladder
cancer. This is not consistent
with current American Urological
Association (AUA) clinical guidelines,
which require cystoscopy in
the event of a presentation of
hematuria, except in a minority
of cases. It misunderstands the
central value proposition of
tests like Cxbladder with high
NPV (Negative Predictive Value)
in that they allow urologists
confidently and safely to
reduce unnecessary tests and
procedures in patients at low
risk of having bladder cancer but
are required to be investigated
by the current standard of care.
Similarly, it misunderstands how
to interpret a positive Cxbladder
result, i.e. that clinicians should
continue the evaluation of the
patient for any other cause of
disease, including upper urinary
tract assessment.
IMMEDIATE RESPONSE
We see this determination as
a delay, albeit significant, to our
future commercialization plans.
Now that Novitas has codified
its views in a finalized LCD, we
are able to consider and assess
the potential legal avenues to
dispute this determination, while
continuing our path of improving
our clinical evidence development
to ensure guidelines inclusion
and regaining Medicare coverage.
Over the last 18 months Pacific
Edge has consistently sought to
enhance and to strengthen its
research and evidence base with
a particular focus on its clinical
evidence generation program.
These efforts accelerated with
the appointment of urologist
Dr Tamer Aboushwareb, first as
Vice President of Medical Affairs,
and now leading our medical
organization as Chief Medical
Officer.
The language and framework
adopted in this LCD has
reinforced our recent decision
to develop and commercialize
our new test Cxbladder Detect
+

as a single test for hematuria
evaluation. The clinical evidence
for Detect
+
has been, and will be,
developed in a more structured
framework that focuses on
analytical validity (AV), clinical
validity (CV) and clinical
utility (CU) in defined patient
populations, with conventional
end points and at sufficient
sample sizes for future inclusion
in guidelines.
By building a solid and focused
clinical development plan based
on the foundations of AV, CV, and
CU (which are requirements for
guideline inclusion and coverage),
Cxbladder Detect
+
will likely be
the strongest candidate for future
potential inclusion in both the
National Comprehensive Cancer
Network (NCCN) and AUA
guidelines for the stratification of
microscopic hematuria patients.
We have an ongoing study with
the Veteran’s Administration
(DRIVE) which is expected to
be ready for publication by early
2024 and another two validation
studies (microDRIVE, and
AUSSIE) set to start soon with
target completion dates at the
end of 2024 (further detail on our
clinical study program is included
on pages 18 - 19 of this report).
For the immediate future,
the company will continue to
promote Cxbladder and process
all tests ordered by US clinicians
as we further consider our
strategy and future options. This
is a short-term measure aimed
at capturing the full benefit of
“The LCD materially
misunderstands
the important role
that biomarkers
can play in ‘first
line’ diagnostics
for risk stratifying
patients with
hematuria.”
2,133
2,791
3,110
3,824
4,277
4,706
4,591
5,290
6,073
6,699
6,629
7,816
-
1,000
2,000
3,000
4,000
5,000
6,000
7,000
8,000
Q121Q221Q321Q421Q122Q222Q322Q422Q123Q223Q323Q423
Q121Q221Q321Q421Q122Q222Q322Q422Q123Q223Q323Q423
TEST VOLUME
CLINICIANS
▲
43%
CAGR
4
411
462
516
530
657
690
741
789
895
978
1,082
1,150
-
200
400
600
800
1,000
1,200
▲
47%
CAGR
4
▲
-1%
CAGR
4
852
1,088
943
1,073
1,079
1,074
1,117
952
983
1,165
1,139
1,061
Q121Q221Q321Q421Q122Q222Q322Q422Q123Q223Q323Q423
TEST VOLUME
-
200
FY22FY23
400
600
800
1,000
1,200
19%
56%
25%
17%
61%
22%
2,133
2,791
3,110
3,824
4,277
4,706
4,591
5,290
6,073
6,699
6,629
7,816
-
1,000
2,000
3,000
4,000
5,000
6,000
7,000
8,000
Q121Q221Q321Q421Q122Q222Q322Q422Q123Q223Q323Q423
Q121Q221Q321Q421Q122Q222Q322Q422Q123Q223Q323Q423
TEST VOLUME
CLINICIANS
▲
43%
CAGR
4
411
462
516
530
657
690
741
789
895
978
1,082
1,150
-
200
400
600
800
1,000
1,200
▲
47%
CAGR
4
▲
-1%
CAGR
4
852
1,088
943
1,073
1,079
1,074
1,117
952
983
1,165
1,139
1,061
Q121Q221Q321Q421Q122Q222Q322Q422Q123Q223Q323Q423
TEST VOLUME
-
200
FY22FY23
400
600
800
1,000
1,200
19%
56%
25%
17%
61%
22%
2,133
2,791
3,110
3,824
4,277
4,706
4,591
5,290
6,073
6,699
6,629
7,816
-
1,000
2,000
3,000
4,000
5,000
6,000
7,000
8,000
Q121Q221Q321Q421Q122Q222Q322Q422Q123Q223Q323Q423
Q121Q221Q321Q421Q122Q222Q322Q422Q123Q223Q323Q423
TEST VOLUME
CLINICIANS
▲
43%
CAGR
4
411
462
516
530
657
690
741
789
895
978
1,082
1,150
-
200
400
600
800
1,000
1,200
▲
47%
CAGR
4
▲
-1%
CAGR
4
852
1,088
943
1,073
1,079
1,074
1,117
952
983
1,165
1,139
1,061
Q121Q221Q321Q421Q122Q222Q322Q422Q123Q223Q323Q423
TEST VOLUME
-
200
FY22FY23
400
600
800
1,000
1,200
19%
56%
25%
17%
61%
22%
USA TEST VOLUMES
3
Commercial tests represent 85% of FY 23 TLT in the USA
APAC TEST VOLUMES
3
Commercial tests represent 83% of TLT in FY 23 for APAC
UNIQUE US CLINICIANS ORDERING CXBLADDER
3
Total Laboratory Throughput including commercial, pre-commercial and clinical studies testing
4
CAGR compares Q4 21 to Q4 23
PACIFIC EDGE LIMITED ANNUAL REPORT 2023
1312 PACIFIC EDGE LIMITED ANNUAL REPORT 2023

Medicare reimbursement of our
tests that will continue until at
least 17 July 2023 and while we
explore our legal options for
overturning this determination.
This approach also gives us time
to determine the specifics for
alternative payment strategies,
including billing patients for
tests where the insurance
company has denied the claim
and maximizes revenue for our
shareholders.
We expect to continue to bill
and receive reimbursement for
our tests from contracted US
payers without interruption and
from non-contracted private
payers in line with historic
reimbursement rates. Notably,
our largest US customer Kaiser
Permanente is expected to
continue payment for our
Triage and Monitor products,
irrespective of the Novitas
determination. We also expect
continued reimbursement for
the small proportion of patients
insured by the US Veterans
Administration and other direct
bill payers.
Finally, to preserve capital we
have introduced a range of cost
containment initiatives including
an immediate hiring freeze, and
a halt to discretionary spending
and no new capital expenditure.
THE FUTURE
Despite this current setback,
we believe we can still deliver on
the significant opportunities we
see for Cxbladder in the US and
around the world.
It is too early to determine the
outlook for test volumes and
revenue for FY 24 as both are
linked to the decisions we make
over the coming weeks and
particularly any changes we make
in our approach to the market in
response to the LCD. However, I
want to assure you my team and
I are working as quickly as we
can to provide certainty to our
people, our customers, patients
and you, our Shareholders.
We will update the market
as we gain greater clarity and
have determined our strategic
path forward. We meanwhile
see catalysts that could partially
offset this challenge including
the ‘go live’ of the integration
of Cxbladder into Kaiser
Permanente’s electronic medical
records system; locally, a national
contract with Te Whatu Ora and
longer-term the publication of
clinical utility evidence from our
studies and those conducted
independently of Pacific Edge.
In closing, I want to echo Chris’
comments regarding the grit and
determination of our people in
response to the challenges we
have faced over the last year.
As a leadership group we are
maintaining transparency, and in
return our team have returned us
purpose and focus as we look to
address those challenges. It is a
privilege to lead and work with
such a talented and committed
team, and I thank you all for
your efforts of the last year, and
the last few weeks. I also want
to acknowledge and thank the
Board for their ongoing support
and advice.
I look forward to meeting with
shareholders at our Annual
Meeting in Auckland at the end
of July 2023.
Ngā mihi nui,
Dr Peter Meintjes
“All our data
has been peer
reviewed and
published in some
of the world’s
leading urological
journals.”
PACIFIC EDGE LIMITED ANNUAL REPORT 2023 1514 PACIFIC EDGE LIMITED ANNUAL REPORT 2023

UNITED STATES
Annual bladder cancer
cases: 80,617
6
TAM
7
: US$3.5B
Pacific Edge activity:
- -Cxbladder commercial
test volumes: 23,072,
up 46% on FY 22
- Laboratory, regional
sales, marketing, and
operational support
- Clinical study
partnerships
AMERICAS
Annual bladder cancer
cases: 43,220
6
TAM (ex USA): US$0.5B
8
Pacific Edge activity:
- Clinical study
partnerships in Canada
ASIA PACIFIC
Annual bladder cancer
cases: 98,689
TAM
(ex China): US$2.2B
8

Pacific Edge activity:
- Cxbladder commercial
test volumes: 3,619,
up 5% on FY 22
- Laboratory and global
sales, marketing, and
operational support in
New Zealand
- Clinical study
partnerships in New
Zealand, Australia, and
Singapore
EMEA
Annual bladder cancer
cases: 233,925
TAM
(ex most of Africa):
US$1.4B
8
Pacific Edge activity:
- Distribution in Israel
(serviced from the US)
5
World Cancer Research Fund Annual case figure for 2020.
6
Sung et al. Global Cancer Statistics 2020: GLOBOCAN Estimates of Incidence and Mortality
Worldwide for 36 Cancers in 185 Countries CA: A Cancer Journal for Clinicians 2021; 71: 209-249
7
Total Addressable Market
8
Pacific Edge estimates
PACIFIC EDGE HQ,
DUNEDIN
PACIFIC EDGE DIAGNOSTICS USA
HERSHEY, PENNSYLVANIA
■

USA
■
AMERICAS (NON USA)
■
EMEA (W/0 MOST OF AFRICA)
■
APAC (W/O CHINA)
ADDRESSING A GLOBAL
MARKET FOR OUR TESTS IS
WORTH US$7.6 BILLION
5
PACIFIC EDGE SNAPSHOT
ANSWERING THE CALL
OF A GLOBAL HEALTHCARE
CHALLENGE
Pacific Edge is delivering solutions to help with the diagnosis and management
of bladder cancer around the world. The disease is a major global healthcare
challenge, with nearly 600,000 people diagnosed with the disease each year.
5
Our tests offer a solution
to clinicians, healthcare
providers and healthcare
funders around the world,
improving healthcare
outcomes and helping to
ease the financial burden of
the disease. They are cost-
effective and can assist
clinicians to safely
de-intensify hematuria
evaluation in low incidence
populations, resolve
diagnostic dilemmas,
and monitor patients for
the recurrence of urothelial
carcinoma. Our tests also
offer opportunities to reduce
the waiting lists for specialist
urology care, increase the
speed and accuracy of cancer
diagnosis for better patient
management and drive
efficiencies in healthcare
spending.
PACIFIC EDGE LIMITED ANNUAL REPORT 2023 1716 PACIFIC EDGE LIMITED ANNUAL REPORT 2023

The program has been reconfigured to focus on delivering ‘endpoints’ that guidelines
committees agree are appropriate to demonstrate clinical validity and clinical utility
in a defined patient population. A key addition to the program this year has been
the addition of a new study microDRIVE, which will compare the performance of
Cxbladder Detect
+
against the current gold-standard for the detection of bladder
cancer, diagnostic cystoscopy, and pathology. It will run alongside the existing DRIVE
study with the VA and the AUSSIE study in Australia. The data for all three studies
will be pooled together for greater statistical power in microhematuria and gross
hematuria populations for assessment by guidelines.
CLINICAL EVIDENCE
DEMONSTRATING THE PATH TO
GUIDELINE INCLUSION
Our clinical study program is the foundation of Pacific Edge’s value,
delivering evidence to change clinical behavior.
CLINICAL EVIDENCE GENERATION TOWARDS GUIDELINE INCLUSION
STUDYAIMLOCATIONSENROLLED
SITES*
STATUS**
STRATASafe Testing of Risk for AsymptomaTic
MicrohematuriA
Demonstrate the clinical utility (CU) of Cxbladder
using a prospective, two-arm randomized design to
risk-stratify patients and rule out from cystoscopy
• Establish CU for Cxbladder Triage in MH
populations to identify patients at low risk of
bladder cancer that can safely avoid cystoscopy
• Retrospective analysis with Cxbladder Detect
+
to
show equivalent or greater CU in MH populations
with the improved performance characteristics
• CU evidence supports AUA/NCCN guidelines
inclusion using Cxbladder Triage and/or
Cxbladder Detect
+
to risk stratify MH populations
USA
Canada
12/13• Enrolment total is 524
• Target enrolment: ~600
patients, including
120 low risk subjects
randomized to test arm
• Last patient in: Q3
2023  
• Follow up: until Q3
2024
DRIVEDetection and RIsk Stratification in VEterans
Presenting with Hematuria
Prospective recruitment of patients to a single-
arm observational study to demonstrate the CV
of Cxbladder tests in risk stratifying Veterans
presenting with hematuria
• CV evidence for Cxbladder Triage in MH & GH
patients supplementing NZ Studies
• Demonstrate CV of Cxbladder Detect
+
within a
Veterans cohort
• Retrospective analysis with Cxbladder Detect
+
to
demonstrate CV evidence supporting AUA/NCCN
Guidelines inclusion in MH & GH patients
• Contribute data to pooled-analysis to establish CV
for Detect
+
in MH patients
VA Sites
(USA)
10/10• Enrolment total is 610
• Target enrolment: ~600
patients
• Last patient in: Q3
2023
• Follow up: until Q2
2025
STUDYAIMLOCATIONSENROLLED
SITES*
STATUS**
AUSSIEAustralian Urologic Risk Stratification of PatientS
wIth HEmaturia
Prospective recruitment of patients to a single-
arm observational study to demonstrate CV in an
Australian healthcare setting for patients presenting
with hematuria 
• Demonstrate CV of Cxbladder Detect
+
with an
Australian cohort
• Demonstrate accurate risk stratification of
hematuria patients to intensify or de-intensify
evaluation
• Contribute data to pooled-analysis to establish CV
for Detect
+
in MH patients   
Australia1/1• Enrolment due to start
July 2023
microDRIVEDetection and RIsk Stratification in VEterans
Presenting with Microhematuria  
• Demonstrate the clinical validity of Cxbladder
Detect
+
in detecting urothelial cancer in patients
presenting with microhematuria. 
• MicroDRIVE will compare the performance of
Detect
+
against the current gold-standard for
the detection of urothelial cancer, diagnostic
cystoscopy and pathology
USA0/1• Projected to start
recruitment Sep/Oct
2023 
• Target is 1000 patients
and 50 tumour
confirmed 
• Last patient in: March/
April 2024 
Micro-
hematuria
Pooled-
analysis
Pooled-analysis of Cxbladder Detect
+
performance
from multiple studies involving prospectively
recruited patients from single-arm observational
studies including eligible microhematuria patients 
• CV of Cxbladder Detect
+
with microhematuria
(MH) patients
• Combines data from DRIVE, AUSSIE and a future
MH-focused clinical trial
• CV evidence supports AUA/NCCN guidelines
inclusion using Cxbladder Detect
+
to risk stratify
MH populations
USA
Australia
N /A• DRIVE underway,
AUSSIE and
microDRIVE projected
to start in 2023
LOBSTERLOngitudinal Bladder Cancer Study for Tumor
REcurRence
Prospective recruitment of patients to a single-
arm observational study to evaluate the clinical
validity of Cxbladder Monitor 
• To safely risk stratify patients under surveillance
for recurrence of UC
• To demonstrate that it is safe to alternate
Cxbladder Monitor with cystoscopy for
intermediate and high-risk patients under
surveillance for recurrence of UC
• Targeting AUA/NCCN guidelines inclusion for
biomarkers as an alternative to cystoscopy in a
surveillance setting
USA
(including
someVA
sites)
Australia
5/10• Enrolment is now
79 with 125 samples
collected 
• Each site will enroll
100 patients within 12
months and follow up
for another 12 months
*Estimated number of enrolled sites **All dates are best-case estimates and subject to change
PACIFIC EDGE LIMITED ANNUAL REPORT 2023 1918 PACIFIC EDGE LIMITED ANNUAL REPORT 2023

Chris Gallaher,
Chairman and Independent
Director
(Appointed 2016)
Chris joined the Board in
2016 and was appointed as
Chairman in August 2016. A
New Zealand citizen resident
in Melbourne, Chris has held
senior positions in both CEO and CFO roles with a
number of large international companies and was
a partner in Arthur Young, Chartered Accountants.
Prior to retiring from full time corporate life, he was
CFO of Fulton Hogan, a large NZ resources based
civil contractor. Chris holds a BCom from Otago
University, is a Chartered Accountant, a member
of the Australian Institute of Company Directors
and is Chairman of Vinlink (Marlborough) Ltd and
Mariposa Holdings Ltd.
Anatole Masfen,
Independent Director
(Appointed 2008)
Anatole is the co-founder
of Artemis Capital, a private
equity investment firm based
in Auckland. He graduated
from the University of
Auckland with an MCom
(Hons) in Finance and Economics. Following that
he spent eight years with Air New Zealand (and
later the merged entity with Ansett Australia)
holding senior positions in Pricing, Revenue
Management and Systems implementation. He
holds directorships in numerous private companies
and has significant knowledge of financial capital
markets. As a long standing director of PEB and
investor in numerous medical and tech companies,
Anatole has an a detailed knowledge of the
medical sector and future trends. In particular
human sciences and disruptive technologies.
Sarah Park
Independent Director and
Chair of Audit
and Risk Committee
(Appointed 2018)
Sarah is the co-founder of
Even Capital, a VC fund
100% focused on investing
in female entrepreneurs in
New Zealand and Australia. Sarah brings 20+ years
international corporate finance and capital markets
experience to Pacific Edge after a professional
career with PwC in NZ and HSBC Investment Bank
in London. During her executive career, Sarah held
a wide variety of roles including being involved in
numerous M&A and capital market transactions,
managing family office investment arms and as an
Equity Research Analyst. Sarah is Deputy Chair of
National Provident Fund and a Director of Orbis
Diagnostics. Sarah has a MA(Hons) in Economics
from the University of Edinburgh.
Bryan Williams
Independent Director
(Appointed 2013)
Bryan is an internationally
recognised cancer researcher
and research administrator,
with significant business
experience. He has held a
number of governance roles,
including with a NASDAQ listed biotech company.
Presently, he serves on the board of two privately
held Australian biotechnology companies. Bryan
was Director and CEO of the Hudson Institute of
Medical Research. He is currently Emeritus Director
and Distinguished Scientist at the Hudson Institute
in Melbourne. He has a BSc (Hons) and PhD in
Microbiology from the University of Otago.
Anna Stove
Independent Director
(Appointed 2021)
Anna has a successful track
record in leading and driving
transformational change
within the pharmaceutical
sector. She has significant
Global business experience
having held a variety of senior executive roles
within NZ, Asia Pacific and Europe. Prior to
stepping down from corporate life, Anna was the
NZ General Manager of GlaxoSmthKline. She is
now committed to growing businesses through
best practice governance. Anna is also Chair of Rua
Bioscience and Deputy Chair of TAB NZ.
Mark Green
Independent Director
(Appointed 2021)
Mark is an experienced
corporate finance
professional, with
approximately 25 years
of experience in the
Australasian capital,
corporate and financial markets. He was an
Executive Director for Investment Banking at
Goldman Sachs where he worked for nearly
20 years and has been involved in many large
prominent New Zealand transactions including the
IPOs of Meridian, Mighty River Power and Vector.
Mark is a Director of a number of entities including
being Chair of The Better Product Group Limited
and a Director of Mariposa Holdings (a large
charitable organisation). Mark has a Bachelor of
Commerce and a Bachelor of Law degrees from
the University of Auckland.
Tony Barclay
Independent Director
(Appointed 2022)
Tony brings over 30 years
experience in business and 22
years healthcare experience.
Tony was CFO at medical
device company Fisher &
Paykel Healthcare from the
time of separation from Fisher & Paykel Appliances
in 2001 until retiring from full-time employment
in 2018. Prior to Fisher & Paykel Healthcare
Tony worked for PriceWaterhouse and Arnott's
Biscuits in finance roles. Tony holds a number of
directorships in private companies, all in MedTech.
Tony holds a BCom from the University of Otago
and is a Chartered Accountant and a member of
the New Zealand Institute of Directors and INFINZ.
BOARD AND MANAGEMENT
PACIFIC EDGE BOARD
PACIFIC EDGE LIMITED ANNUAL REPORT 2023 2120 PACIFIC EDGE LIMITED ANNUAL REPORT 2023

Dr Peter Meintjes, CEO
Peter is a molecular
diagnostics and genomics
leader focused on nascent
market development of
disruptive innovations to
drive commercial success.
Prior to joining Pacific Edge,
he was based in Boston, USA
for a number of molecular diagnostic leadership
roles. Most recently the Chief Commercial Officer
at Eurofins Transplant Genomics (TGI), a transplant
diagnostics company focused on revolutionizing
post-transplant care for kidney transplant recipients
with non-invasive biomarkers he was responsible
for scaling the commercial team behind TruGraf
(now OmniGraf), the only CMS-reimbursed test
for subclinical organ rejection. Prior to TGI, Peter
was CEO at Omixon Inc, a molecular diagnostics
company focused on the pre-transplant market,
world leader in HLA typing by NGS, and recipient
of the Innovation Grand Prize among all companies
in Hungary in 2018. Prior to his US career, Peter
worked at Auckland-based Biomatters, the creators
of Geneious – software specializing in translating
genetic and genomic data into biological insights
for researchers and medical insights for clinicians.
Biomatters was acquired by GraphPad in 2019.
Grant Gibson,
Chief Financial Officer,
Pacific Edge
Grant is an experienced
financial executive and
chartered accountant, who
brings significant financial
experience to the role. Prior
to joining Pacific Edge in
late 2019, Grant was Chief
Financial and Operating Officer for Dunedin-based
company, TracMap, where he was responsible for
leading the financial management and operations
across the company. Prior to that, Grant worked
in executive finance roles at Westpac, including as
Head of Finance for Westpac New Zealand. During
his time with Westpac, he headed the finance team
for New Zealand's largest financial transaction, the
local incorporation of Westpac New Zealand.
David Levison, President,
Pacific Edge Diagnostics USA
David has spent more than
25 years in the healthcare
industry, working across
a range of sectors from
pharmaceuticals to services
and diagnostics. He has
been the founder and CEO
of a number of high growth medical and medical
technology businesses (Oncology Therapeutics
Network/Bristol Myers/McKesson, Xdx/CareDx) in
the US as well as working in private equity. David
stepped down from the Pacific Edge Board in
November 2020, after four years as a director, to
take up the role of Executive Chairman of PED USA
and now leads the organization operationally and
strategically as President from September 1, 2022.
Dr Tamer Aboushwareb,
Chief Medical Officer,
Pacific Edge Diagnostics USA
Tamer joined Pacific Edge
in June 2022 and brings to
the company a depth of
experience in clinical, medical
research, and commercial
roles in urological medicine
in Egypt and the USA. Prior
to joining the company, he was Senior Director of
Oncology Clinical Development at colorectal, breast
and prostate cancer detection company Exact
Sciences and prior to that he was Global Therapy
Area Head, Urology, Medical Affairs at the global
pharmaceutical company Allergan. He is a graduate
of the Ain Shams University Medical School in
Cairo. He also holds a Master's degree in Urology, a
Doctoral degree in Molecular medicine, and has held
residency, post-doctoral and research roles in Egypt
and the US.
Glen Costin,
President APAC, Pacific Edge
Glen joined Pacific Edge
in April 2023 having spent
decades in Asia Pacific
markets with life science/
diagnostic companies such as
BD (Becton Dickinson), Bio-
Rad Laboratories and others,
in senior management roles to deliver significant
revenue growth. Glen has had extensive hands-on
commercial and go-to-market experience in China,
Korea, Taiwan, SE Asian countries, Australia and
New Zealand and established direct offices. His sales
and marketing experience has spanned, life science
research, diagnostic instrumentation, as well as
launching a new Oncology test for Cervical Cancer
Screening generating over US$38M pa in revenues
within APAC. Glen has sold at the executive
level for many years and developed Key Opinion
Leader networks to support innovative technology
introduction in the medical diagnostics sector,
including his former role as Global Private Pathology
Director at BD Diagnostics. Glen’s qualifications
include: Bachelor of Science (Genomics), Masters of
Management (Marketing Management & Finance)
from Macquarie Graduate School of Management.
Professor Parry Guilford,
Chief Scientific Officer,
Pacific Edge
Parry has led the science,
research and development
at Pacific Edge from its early
days. As one of the founding
scientists and a member of
the Scientific Advisory Board
of the Company, Parry is
the architect of many of the Company’s product
prototypes. Parry’s focus is to bring his world
class skills and experience on the step change in
biotechnology for the Company’s next generation of
products.
Dr Justin Harvey,
Chief Technology Officer,
Pacific Edge
Justin has been with Pacific
Edge since 2004 and came
on board with a background
in medical laboratory testing,
diagnostics and cancer
genetics. Justin has been
involved in the development
and commercialisation of the Cxbladder suite of
products and is now leading Pacific Edge’s scientific
Research and Development program to develop
novel products to help improve people’s lives and
patient outcomes by providing leading solutions for
the early detection and management of cancer.
Andy McIntosh,
Chief Digital Officer,
Pacific Edge
Andy is an experienced
executive leader with
strengths across digital
transformation, strategy
development and delivery,
product management and
people leadership. His
focus is on creating a more sustainable future
for business through digital technology, and in
developing technology capability and services.
Andy has worked in several senior roles including
General Manager Technology, Strategic Partnering
and Fleet at Citycare Group in Christchurch, Global
Commercial Manager for Tait Communications in
New Zealand, UK and Houston, and for Vodafone
New Zealand. Andy was a lawyer in the Digital
Sector in a mixture of in house and private practice
roles for 25 years.
Darrell Morgan,
Chief Operating Officer,
Pacific Edge
Darrell has extensive
experience in senior
leadership and executive
roles in large, mid-sized
and virtual pharmaceutical
companies in the UK, Europe
and New Zealand. He has
more than 37 years’ experience in pharmaceutical
R&D, immunodiagnostics, and device development
for drug delivery across human and animal health, in
R&D, technical operations and customer-facing roles.
Since 2013, Darrell has been a senior leader with
animal health company Argenta Research where his
roles have included Global Head of Pharmaceutical
Sciences, VP Customer Relationships –
Pharmaceutical Sciences, and Product Development
Director – Technical Operations. Prior to Argenta
Research, he worked for global biopharmaceutical
company UCB in the UK for eight years in senior
roles with a focus on sterile drug product and
medical device development.
BOARD AND MANAGEMENT
PACIFIC EDGE MANAGEMENT
PACIFIC EDGE LIMITED ANNUAL REPORT 2023 2322 PACIFIC EDGE LIMITED ANNUAL REPORT 2023

CONSOLIDATED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023
CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME
For the year ended 31 March 2023
Note: These Financial Statements are to be read in conjunction with the Notes to the Financial Statements
Notes
2023
($000)
2022
($000)
REVENUE
Operating Revenue 5 19,616 11,445
Total Operating Revenue 19,616 11,445
Other Income5 1,417 1,691
Interest Income9 2,761 549
Foreign Exchange Gain 2,330 193
Total Revenue and Other Income 26,124 13,878
OPERATING EXPENSES
Laboratory Operations 9,349 6,498
Research6 8,484 5,135
Sales and Marketing 25,123 14,277
General and Administration7 10,133 7,756
Total Operating Expenses 53,089 33,666
NET LOSS BEFORE TAX (26,965) (19,788)
Income Tax Expense16- -
LOSS FOR THE YEAR AFTER TAX (26,965) (19,788)
Items that may be reclassified to profit or loss:
Translation of Foreign Operations (99) 114
TOTAL COMPREHENSIVE LOSS attributable to
equity holders of the Company
(27,064) (19,674)
Earnings per share for loss attributable to the equity
holders of the Company during the year
Basic and Diluted Earnings per share3 (0.033) (0.026)
PACIFIC EDGE LIMITED ANNUAL REPORT 2023 2524 PACIFIC EDGE LIMITED ANNUAL REPORT 2023

Share
Capital
Accumulated
Losses
Share
Based
Payments
Reserve
Foreign
Currency
Translation
Reserve
Total
Equity
Notes($000)($000)($000)($000)($000)
Balance as at 31 March 2021 190,305 (170,061) 4,038 827 25,109
Loss after tax- (19,788)- - (19,788)
Other Comprehensive Income- - - 114 114
TOTAL COMPREHENSIVE LOSS
attributable to equity holders of the
Company
- (19,788)- 114 (19,674)
Transactions with owners in their
capacity as owners:
Issue of Share Capital18 99,622 - - - 99,622
Share Based Payments- Employee
Remuneration
8 172 - - - 172
Share Based Payment- Employee
Share Options
8 4,040 - (893)- 3,147
Balance as at 31 March 2022 294,139 (189,849) 3,145 941 108,376
Balance as at 31 March 2022 294,139 (189,849) 3,145 941 108,376
Loss after tax- (26,965)- - (26,965)
Other Comprehensive Income- - - (99) (99)
TOTAL COMPREHENSIVE LOSS
attributable to equity holders of the
Company
- (26,965)- (99) (27,064)
Transactions with owners in their
capacity as owners:
Issue of Share Capital18 (4)- - - (4)
Share Based Payments- Employee
Remuneration
8 182 - - - 182
Share Based Payment- Employee
Share Options
8- - 1,273 - 1,273
Balance as at 31 March 2023294,317 (216,814) 4,418 842 82,763
CONSOLIDATED STATEMENT OF CHANGES IN EQUITY
For the year ended 31 March 2023
Note: These Financial Statements are to be read in conjunction with the Notes to the Financial Statements
CONSOLIDATED BALANCE SHEET
As at 31 March 2023
Notes
2023
($000)
2022
($000)
CURRENT ASSETS
Cash and Cash Equivalents9 33,229 35,412
Short Term Deposits9 44,562 70,000
Receivables10 5,493 4,012
Inventory11 1,287 1,007
Other Assets12 1,400 1,183
Total Current Assets 85,971 111,614
NON-CURRENT ASSETS
Property, Plant and Equipment13 2,768 1,404
Right of Use Assets23 1,143 1,830
Intangible Assets14 1,031 434
Total Non-Current Assets 4,942 3,668
TOTAL ASSETS 90,913 115,282
CURRENT LIABILITIES
Payables and Accruals17 6,928 4,983
Lease Liabilities23 811 1,072
Total Current Liabilities 7,739 6,055
NON-CURRENT LIABILITIES
Lease Liabilities23 411 851
Total Non-Current Liabilities 411 851
TOTAL LIABILITIES 8,150 6,906
NET ASSETS 82,763 108,376
Represented by:
EQUITY
Share Capital18 294,317 294,139
Accumulated Losses (216,814) (189,849)
Share Based Payments Reserve 4,418 3,145
Foreign Translation Reserve 842 941
TOTAL EQUITY 82,763 108,376
FURTHER INFORMATION
Net Tangible Assets per share ($) 0.101 0.133
For and on behalf of the Board of Directors dated the 24th day of May 2023:
Director Director
Note: These Financial Statements are to be read in conjunction with the Notes to the Financial Statements
PACIFIC EDGE LIMITED ANNUAL REPORT 2023 2726 PACIFIC EDGE LIMITED ANNUAL REPORT 2023

CONSOLIDATED STATEMENT OF CASH FLOWS
For the year ended 31 March 2023
Note: These Financial Statements are to be read in conjunction with the Notes to the Financial Statements
Notes
2023
($000)
2022
($000)
CASH FLOWS TO OPERATING ACTIVITIES
Cash was provided from:
Receipts from Customers 18,468 10,942
Receipts from Grant Providers 1,066 1,413
Interest Received 2,716 365
22,250 12,720
Cash was disbursed to:
Payments to Suppliers and Employees 47,869 30,198
Net GST (inflow) cash outflow (44) 74
47,825 30,272
Net Cash Flows To Operating Activities20 (25,575) (17,552)
CASH FLOWS FROM (TO) INVESTING ACTIVITIES:
Cash was provided from:
Proceeds from Short Term Deposits 143,490 51,837
143,490 51,837
Cash was disbursed to:
Purchase of Short Term Deposits 118,107 102,837
Capital Expenditure on Plant and Equipment 1,870 713
Capital Expenditure on Intangible Assets 1,039 413
121,016 103,963
Net Cash Flows From (To) Investing Activities 22,474 (52,126)
CASH FLOWS (TO) FROM FINANCING ACTIVITIES:
Cash was received from:
Ordinary Shares Issued18 (4) 103,488
Exercising of Share Options- 2,306
(4) 105,794
Cash was disbursed to:
Repayment of Leases- Principal23 1,195 1,147
Repayment of Leases- Interest23 83 126
Issue Expenses18- 3,865
1,278 5,138
Net Cash Flows (To) From Financing Activities (1,282) 100,656
Net (Decrease) increase in Cash Held (4,383) 30,978
Add Opening Cash Brought Forward 35,412 4,129
Effect of exchange rate changes on net cash 2,200 305
Ending Cash Carried Forward9 33,229 35,412
Notes to the Consolidated Financial Statements
For the year ended 31 March 2023
1. ACCOUNTING POLICIES
SUMMARY OF ACCOUNTING POLICIES
Reporting Entity
The consolidated financial statements (hereafter referred to as the ‘financial statements’) presented for the year
ended 31 March 2023 are for Pacific Edge Limited (the ‘Company’) and its subsidiaries (collectively referred to as
the ‘Group’). The Group’s purpose is to research, develop and commercialise new diagnostic and prognostic tools
for the early detection and management of cancers.
Pacific Edge Limited is registered in New Zealand under the Companies Act 1993 and is a Financial Markets
Conduct (FMC) reporting entity under Part 7 of the Financial Markets Conduct Act 2013. The financial statements
of the Group have been prepared in accordance with the requirements of the Financial Markets Conduct Act 2013
and the NZX Listing Rules. The financial statements presented are those of the Group, consisting of the Parent
entity, Pacific Edge Limited and its subsidiaries. The Company is dual listed, with its primary listing of ordinary
shares quoted in New Zealand on the NZX Main Board, and a secondary listing in Australia as a Foreign Exempt
Entity on the ASX.
These financial statements have been approved for issue by the Board of Directors on the 24th May 2023.
Basis of Preparation
These financial statements of the Group have been prepared in accordance with Generally Accepted Accounting
Practice in New Zealand (NZ GAAP). The Group is a for-profit entity for the purposes of complying with NZ GAAP.
The financial statements comply with New Zealand equivalents to International Financial Reporting Standards (NZ
IFRS), other New Zealand accounting standards and authoritative notices that are applicable to entities that apply
NZ IFRS. The financial statements also comply with International Financial Reporting Standards.
The financial statements are presented in New Zealand Dollars, which is the Company’s functional currency and
Group’s presentation currency, and all values are rounded to the nearest thousand dollars ($000). The accounting
principles recognised as appropriate for the measurement and reporting of earnings, cash flows and financial
position on a historical cost basis have been used.
The Consolidated Statement of Comprehensive Income and Consolidated Statement of Cash Flows have been
prepared so that all components are stated net of GST. All items in the Consolidated Balance Sheet are stated net
of GST, with the exception of receivables and payables.
Management of Capital
The capital structure of the Group consists of equity raised by the issue of ordinary shares in the Company. The
Company’s objectives when managing capital are to safeguard the Company’s ability to continue as a going
concern in order to provide returns for shareholders, provide benefit for other stakeholders and to maintain an
optimal capital structure to support the development of its business. The Company meets these objectives through
closely managing revenue and expenditure, and where required issues new shares.
PACIFIC EDGE LIMITED ANNUAL REPORT 2023 2928 PACIFIC EDGE LIMITED ANNUAL REPORT 2023

Notes to the Consolidated Financial Statements
For the year ended 31 March 2023
Basis of Consolidation
The following entities and the basis of their inclusion for consolidation in these Financial Statements are as follows:
Name of Subsidiary
Place of
Incorporation
(or registration)
& Operation
Principal Activity
Ownership Interests
& Voting Rights
31 March
2023
%
31 March
2022
%
Pacific Edge Diagnostics New Zealand
Limited
New Zealand
Commercial Sales and
Diagnostic Laboratory
Operation
100100
Pacific Edge (Australia) Pty LimitedAustralia
Commercial Sales and
Biotechnology Research
& Development
100100
Pacific Edge Diagnostics USA LimitedUSA
Commercial Sales and
Diagnostic Laboratory
Operation
100100
Pacific Edge Diagnostics Singapore
Pte Limited
Singapore
Commercial Sales and
Biotechnology Research
& Development
100100
Pacific Edge Analytical Services
Limited
New ZealandDormant Company100100
The financial statements incorporate the assets, liabilities and results of all subsidiaries of Pacific Edge Limited as at
31 March 2023 and for the year then ended. All subsidiaries have the same balance date as the Company of 31 March.
Pacific Edge Limited consolidates all entities over which Pacific Edge Limited has control. Control is achieved when
the Group:
• has power to direct the activities of the entity;
• is exposed, or has rights, to variable returns from involvement with the entity; and
• has the ability to use its power to affect its returns.
Subsidiaries which form part of the Group are consolidated from the date on which control is transferred to the
Group. They are de-consolidated from the date that control ceases.
The acquisition method of accounting is used to account for business combinations by the Group. The consideration
transferred for the acquisition of a subsidiary is the fair value of the assets transferred, the liabilities incurred and the
equity interest issued by the Group.
The consideration transferred includes the fair value of any asset or liability resulting from a contingent consideration
arrangement. Acquisition-related costs are expensed as incurred. Identifiable assets acquired and liabilities and
contingent liabilities assumed in a business combination are measured initially at their fair values at the acquisition
date. On an acquisition-by-acquisition basis, the Group recognises any non-controlling interest in the acquiree either
at fair value or at the non-controlling interest’s proportionate share of the acquiree’s net assets. Inter-company
transactions, balances and unrealised gains on transactions between Group companies are eliminated. Unrealised
losses are also eliminated. Accounting policies of subsidiaries have been changed where necessary to ensure
consistency with the policies adopted by the Group.
Critical Accounting Estimates and Assumptions
In preparing these financial statements, the Group made estimates and assumptions concerning the future.
These estimates and assumptions may differ from the subsequent actual results. Estimates and assumptions are
continually evaluated and are based on historical experience and other factors including expectations or future
events that are believed to be reasonable under the circumstances.
There has been a change in a Critical Accounting Estimate for commercial test revenue recognised in the US, which
has resulted in Operating Revenue increasing by $418,000 for the reporting period ended 31 March 2023. This is
detailed in Note 5.
Notes to the Consolidated Financial Statements
For the year ended 31 March 2023
The Group has performed an initial assessment of potential climate related risks and considered the location of
laboratories and other key operations in each region that it operates in and concluded that there is no material
impact on the current financial statements.
All other significant 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 2022.
2. NEW STANDARDS
New and Amended Standards Adopted by the Group
There are no new standards or interpretations material to the Group to be applied during the year.
New Standards and Interpretations Not Yet Adopted by the Group
Certain new accounting standards and interpretations have been published that are not mandatory for 31 March
2023 reporting periods and have not been early adopted by the Group. These standards are not expected to have
a material impact on the entity in the current or future reporting periods and on foreseeable future transactions.
3. EARNINGS PER SHARE
(a) Basic
Basic earnings per share is calculated by dividing the profit (or loss) attributable to equity holders of the Company
by the weighted average number of ordinary shares on issue during the year excluding ordinary shares purchased
by the Company (Note 18).
GROUP
2023
($000)
2022
($000)
Loss attributable to equity holders of the Company (26,965) (19,788)
Weighted average number of ordinary shares on issue810,226 767,924
Earnings per share (0.033) (0.026)
(b) Diluted
Diluted earnings per share is calculated by adjusting the weighted average number of shares outstanding to
assume conversion of all dilutive potential ordinary shares. The Group’s dilutive potential ordinary shares are in the
form of share options. As the Group made a loss during the current year and losses cannot be diluted, basic and
diluted earnings per share are the same.
4. LABORATORY THROUGHPUT AND COMMERCIAL TESTS –
NON-GAAP REPORTING
Laboratory Throughput is a key metric for the Group: Laboratory Throughput provides evidence of the usage of
Cxbladder products globally and the rates of adoption between different customer segments. The inclusion of this
non-GAAP reporting is considered helpful to readers of these consolidated financial statements, as it allows readers
to compare the current period to prior periods and assess usage trends on a consistent basis. Total laboratory
throughput includes commercial tests, which are invoiced to customers (including tests for patients covered by
the US government’s medical program through the Centers for Medicare and Medicaid Services (CMS)), and
tests which are not considered to be commercial as these tests relate to Research Tests or other non-chargeable
activities.
Commercial Test numbers are also a key metric for the Group: Commercial Tests are those tests for which the
Company is actively seeking reimbursement and cash receipts, and tests performed at no charge in order to gain
new customers. The inclusion of this non-GAAP reporting is considered helpful to readers of these consolidated
financial statements as it allows readers to compare the current period to prior periods and assess trends on a
consistent basis.
PACIFIC EDGE LIMITED ANNUAL REPORT 2023 3130 PACIFIC EDGE LIMITED ANNUAL REPORT 2023

Notes to the Consolidated Financial Statements
For the year ended 31 March 2023
Laboratory Throughput and Commercial Tests per financial year are shown below.
FY23FY22
Total Laboratory Throughput (tests) 31,565 23,086
Change in Total Laboratory Throughput (%) 37%46%
Change in Throughput from previous year (tests) 8,479 7,272
Total Commercial Tests (tests) 26,691 19,196
Change in Commercial Tests from previous year (%)39%48%
Change in Commercial Tests from previous year (tests)7,4956,220
Commercial Tests as a percentage of Total Laboratory
Throughput (%)
85%83%
5. REVENUE
Background information on US customers and the payment process
A physician orders a Cxbladder test when a patient presents to their clinic with symptoms that indicate the
possibility of bladder cancer. The most common and significant symptom is haematuria or blood in their urine.
A urine sample is collected from the patient and sent in the Cxbladder Urine Sampling System to the Group’s
laboratory in the US or in New Zealand. The Group receives and processes the urine sample and returns the results
of the test back to the ordering physician. The individual patient is the Group’s customer, however typically in the
US market, the patient’s insurer may pay the Group for some or all of the cost of the test.
When a physician orders a Cxbladder test, the Group has an obligation to perform the test and report the results to
the ordering physician irrespective of the patient’s insurance contract. A patient may have private insurance cover,
be covered by the US government’s medical program through CMS, self cover or have no insurance cover.
Once the Cxbladder test has been completed, all information required for insurance purposes is sent to the Group’s
billing and reimbursement agent to begin the process to collect reimbursement from any applicable insurance
company/ies for the Cxbladder test performed.
For patients with private insurance cover, the relevant patient and test order information will be sent to their
insurance provider. When the Group does not have an individual agreement with that insurance provider to pay
for Cxbladder tests (“out of network”), the insurance provider will assess that individual patient’s test for medical
necessity and the level of insurance cover (if any) available to cover the cost of the test. This process of assessment
can take many months to work through before the Group receives payments (if any) from the insurance company.
The Group does have agreements with some insurance providers but these currently cover a small proportion of
the Group’s customers.
For patients covered by CMS, invoices are sent to CMS. Prior to 3 July 2020, Pacific Edge was not included in the
Local Coverage Determination (LCD) and as a result, did not normally receive any amounts for tests performed
for patients covered by CMS. On 3 July 2020, Pacific Edge received notice of inclusion in the LCD, resulting in
the Company receiving reimbursement for Cxbladder Monitor and Detect tests performed after 1 July 2020 for
patients covered by the CMS across the US that are deemed medically necessary.
For uninsured patients, the Group has no certainty of when or if the patient will pay.
Rest of World Customers
Revenue from Rest of World customers is primarily from Te Whatu Ora Health New Zealand. In all Rest Of World
locations, there is a clearly defined contract with the customer meeting the requirements of NZ IFRS 15. Pacific
Edge Diagnostics New Zealand Limited has individual contracts with regions across New Zealand and revenue is
recognised as described on the following pages.
Notes to the Consolidated Financial Statements
For the year ended 31 March 2023
Critical Accounting Estimate
The application of NZ IFRS 15: Revenue from contracts with customers (NZ IFRS 15) requires the application of
significant judgement in determining whether the Group meets the five key criteria identified in NZ IFRS 15, which
must be met before revenue may be recognised as performance obligations are satisfied. For the Group this would
result in some revenue recognised in advance of the receipt of cash.
The significant judgements adopted by the Group relate to :
- determining if a contract with the customer exists;
- identifying the rights of each party;
- identifying the payment terms;
- ensuring the contract has commercial substance; and
- determining whether it is probable that the Group will collect the consideration to which it is entitled.
While there has been significant judgement applied to all five criteria, there are two criteria that have higher levels
of uncertainty, requiring increased levels of judgement. The significant judgements applied to determine the
Transaction Price and determining the probability of collecting consideration are detailed in the Accounting Policy
relating to Revenue from Cxbladder Tests.
ACCOUNTING POLICY
Revenue from Cxbladder tests – USA
The Group performs Cxbladder tests when requested by a patient’s physician. At the point the test results are
returned to the physician, the Group has satisfied its performance obligation and has the right to issue an invoice.
The Group has determined a contract exists, and payment terms are identified, the contract has commercial
substance and the rights of each party have been identified.
On 3 July 2020, Pacific Edge received notice of inclusion in the LCD, resulting in the Company receiving
reimbursement for Cxbladder Monitor and Detect tests performed after 1 July 2020 for patients covered by
the CMS across the US that are deemed medically necessary. Reimbursement for these tests is at the already
determined national CMS price for Cxbladder of US$760 per test, less a 2% sequestration fee.
Since Cxbladder’s inclusion in the LCD, based on historical data, the Group has been able to reliably estimate
both the probability and size of payment received from the CMS. The inclusion within the LCD combined with the
growing support for the use of Cxbladder within the US has also allowed the Group to reliably estimate both the
probability and size of payment received from customers covered by Medicare Advantage policies provided by
private insurers and for the year ended 31 March 2023 for customers covered by Kaiser Permanente. The change
relating to Kaiser Permanente in the year ended 31 March 2023 has resulted in an increase to operating revenue
and receivables of $418,000.
Tests performed for patients covered by other private policies, or tests performed for those with no insurance
cover continue to be recognised as revenue when cash is received due to not being able to reliably estimate both
probability and size of payment received.
The Group have concluded that the contracts with the CMS and customers covered by Medicare Advantage and
Kaiser Permanente include variable consideration because the amounts paid by Medicare or the commercial
health insurance carriers that provide Medicare Advantage and Kaiser Permanente may be paid at less than our
standard rates or not paid at all, with such differences considered implicit price concessions. Variable consideration
attributable to these price concessions is measured at the expected value, and are determined by historical average
collection rates by test type and payor category taking into consideration the range of possible outcomes, and the
predictive value of our past experiences. Such variable consideration is included in the transaction price only to the
extent it is probable that a significant reversal in the amount of cumulative revenue recognised will not occur.
As a result of the Significant Judgements applied, the Group have determined the criteria under NZ IFRS 15 which
allows revenue to be recognised in advance of the receipt of cash have been met, and the Group has recognised
revenue for tests which were performed from 1 October 2022 to 31 March 2023 (6 months prior to balance date)
for which payment has not been received by 31 March 2023 for CMS, Medicare Advantage and Kaiser Permanente.
Kaiser Permanente revenue was recognised on receipt of cash in the prior year.
PACIFIC EDGE LIMITED ANNUAL REPORT 2023 3332 PACIFIC EDGE LIMITED ANNUAL REPORT 2023

Notes to the Consolidated Financial Statements
For the year ended 31 March 2023
Rest of World revenue recognition from tests performed
There has been no change in accounting policy or estimates for Operating Revenue for the Rest of World.
The Group performs Cxbladder tests when requested by a patient’s physician in New Zealand, Australia and
Singapore. At the point the test results are returned to the physician, the Group has satisfied its performance
obligations have been met. At the end of the month an invoice is issued to the customer based on the number of
tests performed. Revenue is recognised when the invoice is issued.
OTHER INCOME
Grant Income
Government Grants are not recognised until there is reasonable assurance that the Group will comply with the
conditions attached to them and that the grants will be received. Government Grants are recognised in Other
Income in the consolidated statement of comprehensive income, on a systematic basis over the periods in which
the Group recognises the related costs as expenses for which the grants are intended to compensate.
The Company receives grants from Callaghan Innovation for postgraduate internships and summer students.
All conditions of the grants have been complied with.
Research Rebates and Tax Incentives
- New Zealand R&D Tax Incentive (RDTI)
The New Zealand RDTI is a 15% tax credit on the money invested in eligible research and development (R&D) that
has occurred in New Zealand. As the New Zealand companies are in a tax loss position, the Group is eligible for the
Tax Incentive to be refunded.
The RDTI is recognised at its fair value where there is a reasonable assurance that the credit will be received and
the Group will comply with all attached conditions.
All conditions of the New Zealand RDTI have been complied with. Payment will be received after submission of
each annual research and development tax claim.
- Australia Cxbladder Research Rebate
A Cxbladder research programme is administered by Pacific Edge (Australia) Pty Limited and tax rebates are
received as a result of this programme.
The Cxbladder research rebate is recognised at its fair value where there is a reasonable assurance that the rebate
will be received and the Group will comply with all attached conditions.
All conditions of the research rebate have been complied with. Payment will be received after submission of each
annual research and development tax claim.
REVENUE AND OTHER INCOME
2023
($000)
2022
($000)
Cxbladder Sales
– US- Accrual Accounting16,362 9,687
– US- Cash Accounting2,388 953
– Total US Sales 18,750 10,640
– Rest Of World 866 805
Total Operating Revenue 19,616 11,445
Other Income
Grant Revenue 44 321
Research Rebates and Tax Incentives 1,373 1,370
Total Other Income 1,417 1,691
Notes to the Consolidated Financial Statements
For the year ended 31 March 2023
6. RESEARCH AND DEVELOPMENT COSTS
ACCOUNTING POLICY
Research is the original and planned investigation undertaken with the prospect of gaining new scientific
knowledge and understanding. This includes: direct and overhead expenses for diagnostic and prognostic
biomarker discovery and research; pre-clinical trials; and costs associated with clinical trial activities. All research
costs are expensed when incurred.
Development is the application of research findings to a plan or design for the production of new or substantially
improved processes or products prior to the commencement of commercial production.
When a project reaches the stage where it is probable that future expenditure can be recovered through the
process or products produced, expenditure that is directly attributed or reasonably allocated to that project is
recognised as a development asset within intangible assets. If the expenditure also benefits processes or products
for which it cannot be recovered, it will be expensed. The asset will be amortised from the date of commencement
of commercial production of the product to which it relates on a straight-line basis over the period of expected
benefit. Development assets are reviewed annually for any impairment in their carrying value.
GROUP
Notes
2023
($000)
2022
($000)
Research Expenses 8,484 5,135
Includes:
Employee Benefits8 4,930 2,664
7. GENERAL AND ADMINISTRATION EXPENSES
GROUP
Notes
2023
($000)
2022
($000)
Amortisation14 213 78
Auditors Remuneration: PricewaterhouseCoopers New Zealand
- Group year end financial statements
- Half year review of financial statements
- Singapore Statutory financial statements
184
30
12
172
28
12
Auditors Remuneration: PricewaterhouseCoopers Singapore
- Statutory financial statements 15 12
Depreciation13 263 132
Depreciation on Right of Use Assets23 187 176
Directors Fees22 495 413
Employee Benefits8 4,990 3,216
Insurance 501 418
Interest on Lease Liabilities23 13 23
NZX, ASX and Registry Fees 305 901
Other Operating Expenses 2,925 2,175
10,133 7,756
Note: Amounts displayed for Amortisation, Depreciation, Employee Benefits are only the General and Administration Expenses
component of the total expenses. Refer to relevant notes for full expense disclosure.
Other Operating Expenses
The major categories of expenditure which make up General and Administration Expenses, but are not disclosed
separately above are Information Technology costs, Compliance and Regulatory costs, Investor Relations costs,
Consultants and Contractors.

PACIFIC EDGE LIMITED ANNUAL REPORT 2023 3534 PACIFIC EDGE LIMITED ANNUAL REPORT 2023

Notes to the Consolidated Financial Statements
For the year ended 31 March 2023
8. EMPLOYEE BENEFITS
GROUP
Notes
2023
($000)
2022
($000)
Represented by:
Employee Benefits:
Employee Benefits in Lab Operations 2,4802,145
Employee Benefits in Research64,9302,664
Employee Benefits in Sales and Marketing15,1559,848
Employee Benefits in General and Administration74,9903,216
Total Employee Benefits27,55517,873
Employee Share Scheme
The Company has an Employee Share Scheme where ordinary shares in the Company may be issued to selected
employees to recognise performance or a significant contribution to the Company. These shares may be issued
in lieu of a cash bonus or in addition to the employee’s remuneration. The ordinary shares are issued directly to
the employee and the Company accounts for the cost of the shares. The shares are allocated to the employee on
the date that the Board approves the issue of the share capital. All employees who hold ordinary shares in the
Company must comply with the Company’s Share Trading Policy.
The issuance of ordinary shares to employees is treated as equity settled share-based payments. Equity-settled
share-based payments to employees are measured at the fair value of the equity instruments at the grant date
based on the market price at the time of issuance. The fair value of shares granted is recognised as an employee
expense in the Consolidated Statement of Comprehensive Income when the shares are issued. During the 2023
financial year, 278,000 (2022: 123,000) ordinary shares were issued to employees as part of the Employee Share
Scheme. The associated non-cash cost of these shares was $182,000 (2022: $172,000). Refer to Note 18 for further
details on the shares issued during the financial year.
Attract and Retain Options
The Board believes that the issue of share options provides an appropriate incentive for participating employees to
grow the total shareholder return of the Company.
Attract and retain options are issued to selected employees as a long-term component of remuneration in
accordance with the Group’s remuneration policy. Incentive Options entitle the holder, on payment of the exercise
price, to one ordinary share of the Company.
The exercise price of the granted options is determined using the fair value of the Company’s share price at the
time of the options being granted.
Incentive Options issued prior to 31 March 2022 generally vest over three years and contain the requirement to
remain as an employee of the Company in order for the options to vest. Tranches of options are exercisable over
four to ten years from the relevant vesting date. No options can be exercised later than the tenth anniversary of the
final vesting date.
Options issued after 1 April 2022 generally vest equally in three trances over a four year period, with 1/3 on the
second, third and fourth anniversary of the issue. The Options are exercisable up to four years after vesting date.
Option holders are required to remain as an employee of the Company in order for options to vest. No options can
be exercised later than the fourth anniversary of the final vesting date. The exercise price increases annually for
each vested tranche at the equity cost of capital.
Notes to the Consolidated Financial Statements
For the year ended 31 March 2023
ACCOUNTING POLICY
All options are accounted for as equity settled share based payments as the Group has no legal or constructive
obligation to repurchase or settle in cash. The fair value of all options granted is recognised as an expense in the
Consolidated Statement of Comprehensive Income over their vesting period, with a corresponding increase in the
employee share option reserve.
The fair value is determined at the grant date of the options and expensed on a straight-line basis over the vesting
period, based on the Group’s estimate of equity instruments that will eventually vest, with a corresponding increase
in equity. At the end of each reporting period, the Group revisits its estimate of the number of equity instruments
expected to vest. The impact of the revision of the original estimates, if any, is recognised in the Consolidated
Statement of Comprehensive Income such that the cumulative expense reflects the revised estimate, with a
corresponding adjustment to the share based payments reserve. The options expense for the year ended 31 March
2023 was $1,273,000 (2022: $839,000).
During the financial year ended 31 March 2023, there were no share options exercised (2022: 5,527,000). There was
no resulting increase in share capital (2022: $4,040,000). Refer to note 18 for further details on the share options
that were exercised in the year ended 31 March 2022.
Movements in the number of options outstanding and their related weighted average exercise prices are as follows:
GROUP
20232022
Weighted average
exercise price
$
Options
#
Weighted average
exercise price
$
Options
#
Outstanding at 1 April 0.60 13,861,319 0.42 15,952,289
Granted 0.60 4,293,215 1.23 3,682,500
Forfeited 1.04 (389,496)0.32 (246,076)
Exercised*- - 0.42 (5,527,394)
Expired- - - -
Outstanding at 31 March 0.59 17,765,038 0.60 13,861,319
Exercisable at 31 March 0.40 10,792,501 0.27 9,908,171
* There were no options exercised for the financial year ended 31 March 2023. The weighted average share price at the date of
options exercised during the year ended 31 March 2022 was NZ$1.35.
The Group used the Black-Scholes valuation model to determine the fair value of the equity instruments granted.
The Black-Scholes valuation model has been determined as the most appropriate method as it estimates the
theoretical value of options taking into account the impact of time and other risk factors. The significant inputs
into the Black-Scholes valuation model were the market share price at grant date, the exercise price shown below,
the expected annualised volatility of 50-70%, a dividend yield of 0%, an expected option life of between one and
ten years and an annual risk-free interest rate of between 0.65% and 4.94%.
The volatility measured is the standard deviation of continuously compounded share returns and is based on a
statistical analysis of daily share prices in the past one to ten years.
PACIFIC EDGE LIMITED ANNUAL REPORT 2023 3736 PACIFIC EDGE LIMITED ANNUAL REPORT 2023

Notes to the Consolidated Financial Statements
For the year ended 31 March 2023
Share options outstanding at the end of the reporting periods have the following expiry dates, vesting dates,
exercise prices and movements for the year ended 31 March 2023:
IssuedExpiryLow Exercise Price ($)High Exercise Price ($)Weighted Average Exercise Price ($)Opening Options as at 1 April 2022IssuedForfeitedExercisedExpiredClosing Options 31 March 2023Exercisable as at 31 March 2023
Apr 2014-
Mar 2015
Sept 2024-
Jan 2028
0.69 0.72 0.71 528,441 - - - - 528,441 528,441
Apr 2015-
Mar 2016
Sept 2025-
Mar 2029
0.50 0.60 0.51 332,399 - - - - 332,399 332,399
Apr 2016-
Mar 2017
Nov 2026-
Jan 2030
0.48 0.60 0.57 327,607 - - - - 327,607 327,607
Apr 2017-
Mar 2018
May 2028-
Feb 2031
0.28 0.51 0.50 2,770,899 - - - - 2,770,899 2,770,899
Apr 2018-
Mar 2019
Jun 2029-
Nov 2031
0.23 0.28 0.24 69,098 - - - - 69,098 69,098
Apr 2019-
Mar 2020
Aug 2030-
Aug 2032
0.23 0.23 0.23 4,037,267 - - - - 4,037,267 4,037,264
Apr 2020-
Mar 2021
Jun 2031-
Jun 2033
0.22 0.80 0.31 2,163,112 - (21,004) - - 2,142,108 1,478,052
Apr 2021-
Mar 2022
Aug 2032-
Aug 2034
1.23 1.23 1.23 632,496 - (278,881)- - 353,615 165,278
Apr 2021-
Mar 2022
Feb 2027-
Feb 2031
1.15 1.25 1.23 3,000,000 - - - - 3,000,000 600,000
Apr 2022-
Mar 2023
Dec 2026-
Dec 2030
0.48 0.70 0.60 - 4,293,215 (89,611)- - 4,203,604 483,463
TOTALS 0.59 13,861,319 4,293,215 (389,496) - - 17,765,038 10,792,501
Notes to the Consolidated Financial Statements
For the year ended 31 March 2023
9. CASH, CASH EQUIVALENTS AND SHORT TERM DEPOSITS
ACCOUNTING POLICY
Cash and cash equivalents includes cash in hand and deposits held on call with banks, and bank overdrafts. Term
deposits are also presented as cash equivalents if they have a maturity of three months or less from acquisition
date.
Short Term Deposits and Cash Equivalents include investments with ANZ, BNZ, Kiwibank and Westpac (2022: ANZ,
BNZ, Kiwibank and Westpac), with periods ranging up to 365 days. Funds held on term deposit with ANZ, BNZ
Westpac and Kiwibank can be accessed with one month’s notice at the request of the authorised bank signatories
of Pacific Edge Limited, but may incur fees and/or charges for early access.
GROUP
2023
($000)
2022
($000)
Cash and Cash Equivalents33,22935,412
Short Term Deposits44,56270,000
Total Cash, Cash Equivalents and Short Term Deposits77,791105,412
NZD55,95484,517
USD20,39918,601
AUD1,4292,284
EUR21
SGD79
Total Cash, Cash Equivalents and Short Term Deposits77,791105,412
INTEREST INCOME
ACCOUNTING POLICY
Interest income is recognised using the effective interest method.
Interest on the bank balances ranges from 0% to 5.99% (2022: 0% to 1.89%) per annum.
10. RECEIVABLES
ACCOUNTING POLICY
Receivables are initially measured at fair value and subsequently measured at amortised cost using the effective
interest rate method, less any provision for impairment. An allowance for impairment is made up of expected
credit losses based on the assessment of the trade receivables debt at the individual level for impairment, plus an
additional allowance on the remaining balance for potential credit losses not yet identified.
GROUP
2023
($000)
2022
($000)
Trade Receivables 2,780 1,633
Sundry Debtors 2,257 1,925
Accrued Interest 383 337
GST Refund Due 73 117
Total Receivables 5,493 4,012
PACIFIC EDGE LIMITED ANNUAL REPORT 2023 3938 PACIFIC EDGE LIMITED ANNUAL REPORT 2023

Notes to the Consolidated Financial Statements
For the year ended 31 March 2023
There is no provision for impairment relating to the revenue from Cxbladder sales in New Zealand. All outstanding
sales are current and there are no expected credit losses on the amounts outstanding at balance date.
US Trade Receivables includes a provision for future refunds of $271,000 (2022: $143,000).
Sundry Debtors include accruals for grants and rebates that have not yet been paid. These are expected to be paid
once the relevant claims have been submitted. The Company has met all conditions of the claims and there is no
indication that there is impairment of these balances.
Included in trade receivables are the below amounts which were past due but not impaired. These relate to a
number of customers for whom there is no history of default.
GROUP
2023
($000)
2022
($000)
3 to 6 Months 436 109
Total Overdue Trade Receivables 436 109
The foreign currency split of Receivables is:
GROUP
2023
($000)
2022
($000)
NZD 2,375 1,579
USD 2,685 1,550
AUD 433 883
Total Receivables 5,493 4,012
11. INVENTORY
ACCOUNTING POLICY
Inventories are stated at the lower of cost and net realisable value. Cost is determined using the weighted average
formula.
GROUP
2023
($000)
2022
($000)
Laboratory Supplies 1,287 1,007
Total Inventory 1,287 1,007
The major items of Inventory are laboratory reagents, chemicals and Cxbladder urine sampling systems.
Laboratory supplies used during the year of $2,540,000 (2022: $1,569,000) are included within the Consolidated
Statement of Comprehensive Income in Laboratory Operations and Research.
Notes to the Consolidated Financial Statements
For the year ended 31 March 2023
12. OTHER ASSETS
GROUP
2023
($000)
2022
($000)
Prepayments
1,156 1,014
Security Deposits
244 169
Total Other Assets
1,400 1,183
Prepayments are largely made up of insurance, industry conferences, subscriptions and travel not used. Security
deposits are paid to secure properties for lease in the US and Singapore and to secure credit cards in the US.
13. PROPERTY, PLANT AND EQUIPMENT
ACCOUNTING POLICY
Property, Plant and Equipment are those assets held by the Group for the purpose of carrying on its business
activities on an ongoing basis. All Property, Plant and Equipment is stated at cost less subsequent accumulated
depreciation and any accumulated impairment losses. The cost of purchased assets includes the original purchase
consideration given to acquire the assets, and the value of other directly attributable costs that have been
incurred in bringing the assets to the location and condition necessary for their intended service. This includes the
laboratory equipment for the establishment of the laboratories.
Gains and losses on disposals are determined by comparing the net proceeds with the carrying amount and are
recognised within the Consolidated Statement of Comprehensive Income when they occur.
Depreciation
Depreciation of plant and equipment is based on writing off the assets over their useful lives, using the straight line
(SL) and diminishing value (DV) basis.
Main rates used are:
Plant and Laboratory Equipment 5% to 40% DV
Computer Equipment 5% to 67% DV
Leasehold Improvements 6% to 10% SL
Furniture and Fittings 5% to 25% DV
The assets’ useful lives are reviewed, and adjusted if appropriate, at the end of each reporting period.
PACIFIC EDGE LIMITED ANNUAL REPORT 2023 4140 PACIFIC EDGE LIMITED ANNUAL REPORT 2023

Notes to the Consolidated Financial Statements
For the year ended 31 March 2023

Plant &
Laboratory
Equipment
($000)
Computer
Equipment
($000)
Leasehold
Improvements
($000)
Furniture
& Fittings
($000)
Total
($000)
Cost
Balance at 1 April 20212,1935123372993,341
Additions51123221333989
Disposals (788) (362) (159) (7) (1,316)
Translation Difference12115
Balance at 31 March 20221,9173843923263,019
Balance at 1 April 20221,9173843923263,019
Additions1,53525912671,873
Disposals (48) (64) (23) (123) (258)
Translation Difference371815171
Balance at 31 March 20233,4415973962714,705
Accumulated Depreciation
Balance at 1 April 2021 1,824 439 155 235 2,653
Depreciation Expense 150 89 14 10 263
Disposals (787) (355) (71) (91) (1,304)
Translation Difference 2 1 - - 3
Balance at 31 March 20221,189174981541,615
Balance at 1 April 2022 1,189 174 98 154 1,615
Depreciation Expense 332 136 33 26 527
Disposals (177) (69) 57 (58) (247)
Translation Difference 23 8 9 2 42
Balance at 31 March 20231,3672491971241,937
Carrying Amounts
At 1 April 2021 369 73 182 64 688
At 31 March 2022 728 210 294 172 1,404
At 31 March 2023 2,074 348 199 147 2,768
Notes to the Consolidated Financial Statements
For the year ended 31 March 2023
14. INTANGIBLE ASSETS
ACCOUNTING POLICY
Intellectual Property
The costs of acquired Intellectual Property are recognised at cost. All Intellectual Property has a finite life. The carrying
value of Intellectual Property is reviewed for impairment, where indicators of impairment exist. Amortisation is charged
on a diminishing value basis over the estimated useful life of the intangible assets (1-20 years). The estimated useful life
and amortisation method is reviewed at the end of each reporting period.
The following costs associated with Intellectual Property are expensed as incurred during the research phases of
a project and are only capitalised when incurred as part of the development phase of a process or product within
development assets: Internal Intellectual Property costs including the costs of patents and patent application.
Software Development Costs
Costs associated with the development of software are held at cost. Amortisation is charged on a diminishing value
basis over the estimated useful life of the intangible assets (2-10 years). The estimated useful life and amortisation
method is reviewed at the end of each reporting period.
Cxbladder Development Costs
Costs associated with the development of Cxbladder products have been removed as an Intangible Asset during the
financial year with the $13,000 remaining value expensed in the Consolidated Statement of Comprehensive Income for
the year ended 31 March 2023.
Software
Development
Costs
($000)
Patents
($000)
Cxbladder
Development
Costs
($000)
Total
($000)
Cost
Balance at 1 April 2021921415331,369
Additions278135- 413
Foreign Translation Difference- - - -
Balance at 31 March 20221,199550331,782
Balance at 1 April 20221,199550331,782
Additions97773- 1,050
Disposals(12)(33)(45)
Foreign Translation Difference4- - 4
Balance at 31 March 20232,168623-2,791
Accumulated Amortisation
Balance at 1 April 2021846328181,192
Amortisation Expense87672156
Foreign Translation Difference- - - -
Balance at 31 March 2022933395201,348
Balance at 1 April 2022933395201,348
Amortisation Expense35968- 427
Disposals- - (20)(20)
Foreign Translation Difference5- - 5
Balance at 31 March 20231,297463-1,760
Carrying Amounts
At 31 March 2021758715177
At 31 March 202226615513434
At 31 March 2023871160-1,031
PACIFIC EDGE LIMITED ANNUAL REPORT 2023 4342 PACIFIC EDGE LIMITED ANNUAL REPORT 2023

Notes to the Consolidated Financial Statements
For the year ended 31 March 2023
15. 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 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 their 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 year
ended 31 March 2023, is shown below.
2023
Commercial
($000)
Research
($000)
Less:
Eliminations
($000)
Total External
Income
($000)
Income
Operating Revenue – External19,616- - 19,616
Other Income4672,245 (1,295)1,417
Interest Income182,743- 2,761
Foreign Exchange Gain52,325- 2,330
Total Income20,1067,313 (1,295)26,124
Expenses
Expenses35,89116,360 (1,295)50,956
Depreciation & Amortisation1,311822-2,133
Total Operating Expenses37,20217,182 (1,295)53,089
Loss Before Tax (17,096) (9,869)- (26,965)
Income Tax Expense----
Loss After Tax (17,096) (9,869)- (26,965)
Net Cash Flow to Operating Activities (15,908) (9,667)- (25,575)
Notes to the Consolidated Financial Statements
For the year ended 31 March 2023
2022
Commercial
($000)
Research
($000)
Less:
Eliminations
($000)
Total External
Income
($000)
Income
Operating Revenue – External 11,445 - - 11,445
Other Income 437 2,187 (933) 1,691
Interest Income 2 547 - 549
Foreign Exchange Gain- 193 - 193
Total Income 11,884 2,927 (933) 13,878
Expenses
Expenses 20,378 12,737 (933) 32,182
Depreciation and Amortisation 977 507 - 1,484
Total Operating Expenses 21,355 13,244 (933) 33,666
Loss Before Tax (9,471) (10,317)- (19,788)
Income Tax Expense- - - -
Loss After Tax (9,471) (10,317)- (19,788)
Net Cash Flow to Operating Activities (8,620) (8,932)- (17,552)
Eliminations
These are the intercompany transactions between the subsidiaries and the Parent. These are eliminated on
consolidation of Group results. The Research segment of the business utilise consumables and other components
that are purchased by the Commercial segments of the business, with the costs of these components allocated to
Research segment, and the Commercial segment recognising revenue from the sale.
Segment Assets and Liabilities Information
2023
Commercial
($000)
Research
($000)
Total
($000)
Total Assets 9,375 81,538 90,913
Total Liabilities 5,853 2,297 8,150

2022
Commercial
($000)
Research
($000)
Total
($000)
Total Assets 6,031 109,251 115,282
Total Liabilities 4,571 2,335 6,906
Additions to Non Current Assets for the period include:
Commercial
($000)
Research
($000)
Total
($000)
Property, Plant and Equipment 1,785 88 1,873
Right of Use Assets 337 - 337
Intangible Assets 966 73 1,039
Total Additions to Non Current Assets 3,088 161 3,249
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.
PACIFIC EDGE LIMITED ANNUAL REPORT 2023 4544 PACIFIC EDGE LIMITED ANNUAL REPORT 2023

Notes to the Consolidated Financial Statements
For the year ended 31 March 2023
Geographic Split of Revenue and Non-Current Assets
The Group generates most of the operating revenue from Commercial tests from the US and New Zealand, and
also receives Grant revenue from Australia and New Zealand. Rest of World consists of Revenue from Australia and
Singapore.
2023
($000)
2022
($000)
Operating and Grant Revenue
US 18,750 10,640
New Zealand 1,611 1,729
Rest of World 672 767
Total Operating and Grant Revenue 21,033 13,136
2023
($000)
2022
($000)
Non-Current Assets
US 1,907 1,611
New Zealand 3,035 2,057
Rest of World- -
Total Non-Current Assets 4,942 3,668
16. INCOME TAX
ACCOUNTING POLICY
The tax expense for the period comprises current and deferred tax. Tax is recognised in the Consolidated
Statement of Comprehensive Income, except to the extent that it relates to items recognised in other
comprehensive income or directly in equity. In this case, the tax is also recognised in other comprehensive income
or directly in equity, respectively.
The current income tax charge is calculated on the basis of the tax laws enacted or substantively enacted at the
balance sheet date in the countries where the Company and its subsidiaries operate and generate taxable income.
Management periodically evaluates positions taken in tax returns with respect to situations in which applicable
tax regulation is subject to interpretation. It establishes provisions where appropriate on the basis of amounts
expected to be paid to the tax authorities.
Deferred income tax is provided in full, using the liability method, on temporary differences arising between the
tax bases of assets and liabilities and their carrying amounts in the financial statements in accordance with NZ
IAS 12. Deferred income tax assets are recognised to the extent that it is probable that future taxable profit will be
available against which the temporary differences can be utilised.
Deferred income tax is determined using tax rates (and laws) that have been enacted or substantially enacted by
the balance sheet date and are expected to apply when the related deferred income tax asset is realised or the
deferred income tax liability is settled.
The Company and Group has incurred an operating loss for the 2023 financial year and no income tax is payable.
GROUP
2023
($000)
2022
($000)
Income tax recognised in the Statement of Comprehensive
income

Current tax expense- -
Deferred Tax in respect of the Current Year (3,748) (4,258)
Adjustments to deferred tax in respect to Prior Years 137 94
Deferred Tax Assets not recognised 3,611 4,164
Income tax expense- -

The prima facie income tax on Pre-Tax Accounting Profit
from operations reconciles to:
Accounting loss before income tax (26,965) (19,788)
At the statutory Income Tax rate of 28% (7,550) (5,541)
Non-deductible Expenses 5,007 626
Difference in US, Singapore and Australian Income Tax Rates 1,211 657
Prior Period Adjustment 138 94
Tax Losses Utilised (2,417)-
Deferred Tax Assets not recognised 3,611 4,164
Income tax expense reported in the Statement of
Comprehensive income
- -
Tax Losses
The group has losses to carry forward of approximately $130,444,000 (2022: $112,330,000) with a potential tax
benefit of $28,913,000 (2022: $25,694,000). The tax losses are split between the following jurisdictions:
Tax Losses
($000)
Tax Effect
($000)Rate
New Zealand 20,800 5,800 28%
Australia 1,500 500 30%
Singapore 2,000 300 17%
United States 106,000 22,300 21%
Tax losses are available to be carried forward and offset against future taxable income subject to the various
conditions required by income tax legislation being complied with.
Deferred Research and Development Tax Expenditure:
The Group also has deferred research and development tax expenditure of $51,462,000 (2022: $45,846,000) to
carry forward and claim for income tax purposes in New Zealand in the future. This has a tax effect of $14,409,000
(2022: $12,889,000). The deferred research and development tax expenditure can either be carried forward and
offset against future income arising from the research and development, or subject to meeting the shareholder
continuity requirements can be offset against future other taxable income.
Deferred Tax Assets:
The Group does not recognise a deferred tax asset in the Consolidated Balance Sheet.
Imputation Credit Account
The Group has imputation credits of Nil (2022: Nil).
Notes to the Consolidated Financial Statements
For the year ended 31 March 2023
PACIFIC EDGE LIMITED ANNUAL REPORT 2023 4746 PACIFIC EDGE LIMITED ANNUAL REPORT 2023

17. PAYABLES AND ACCRUALS
ACCOUNTING POLICY
Trade and Other Payables Due Within One Year
Trade payables are recognised at the value of the invoice received from a supplier. The carrying value of trade
payables is considered to approximate fair value as amounts are unsecured and are usually paid by the 30th of the
month following recognition.
GROUP
2023
($000)
2022
($000)
Trade Creditors 2,178 1,906
Accrued Expenses 1,087 659
Employee Entitlements (refer below) 3,663 2,418
Total Payables and Accruals 6,928 4,983
Payables and accruals are non-interest bearing and are normally settled on 30 day terms, therefore their carrying
value approximates their fair value.
The foreign currency split for Payables and Accruals is:
GROUP
2023
($000)
2022
($000)
NZD 2,067 2,161
AUD 299 131
USD 4,521 2,656
SGD 41 35
6,928 4,983
Employee Entitlements
Employee entitlements are measured at values based on accrued entitlements at current rates of pay. These include
salaries and wages accrued up to balance date and annual leave earned to, but not yet taken at balance date.
GROUP
2023
($000)
2022
($000)
Income Tax 291 214
Holiday Pay 565 360
Accrued Wages 2,807 1,844
Total Employee Entitlements 3,663 2,418
Notes to the Consolidated Financial Statements
For the year ended 31 March 2023
18. SHARE CAPITAL
ACCOUNTING POLICY
Ordinary shares are described as equity.
Issue expenses, including commission paid, relating to the issue of ordinary share capital, have been written off
against the issued share price received and recorded in the Consolidated Statement of Changes in Equity.
Equity-settled share-based payments to employees and others providing services are measured at the fair value
of the equity instruments at the grant date. Details regarding the determination of the fair value of equity-settled
share based transactions are set out in Note 8.
GROUP
2023
($000)
2022
($000)
Ordinary Shares Authorised 294,317 294,139
Total Share Capital 294,317 294,139
All fully paid shares in the Group are Authorised and have equal voting rights and equal rights to dividends. All
Ordinary Shares are fully paid and have no par value.
Share Capital Group
2023 Shares
(000)
2023
($000)
2022 Shares
(000)
2022
($000)
Opening Balance 810,087 294,139 727,779 190,305
Issue of Ordinary Shares
- Placement
1
- Exercise of Share Options
2
- Employee Remuneration
3
-
-
278
-
-
182
76,657
5,528
123
103,487
4,040
172
Less: Issue Expenses
- (4)- (3,865)
Movement 278 178 82,308 103,834
Closing Balance 810,365 294,317 810,087 294,139

1) During the period no shares were issued under placements (2022: 76,657,358 at $1.35 per share)
2) During the period no share options were exercised (2022: 5,527,391 at an average price of $0.42)
3) During the period 277,985 shares were issued as part of employees remuneration in lieu of cash payments at an average price
of $0.65 per share. (2022: 123,086 at $1.40)
Notes to the Consolidated Financial Statements
For the year ended 31 March 2023
PACIFIC EDGE LIMITED ANNUAL REPORT 2023 4948 PACIFIC EDGE LIMITED ANNUAL REPORT 2023

19. FOREIGN CURRENCY
ACCOUNTING POLICIES
Foreign Currency Transactions
The individual financial statements of the Group are presented in the currency of the primary economic
environment in which the entity operates (its functional currency). For the purpose of the Group financial
statements, the results and financial position of the Group entity are expressed in New Zealand dollars (‘NZ$’),
which is the functional currency of the Parent and the presentation currency for the Group financial statements.
In preparing the financial statements of the individual entities, transactions in currencies other than the entity’s
functional currency (foreign currencies) are recorded at the rates of exchange prevailing at the dates of the
transactions. At the end of each reporting period, monetary items denominated in foreign currencies are
retranslated at the rates prevailing at the end of the reporting period. Non monetary items denominated in foreign
currencies are translated at the rates prevailing on the date the transaction occurs.
Exchange differences are recognised in the Consolidated Statement of Comprehensive Income in the period in
which they arise.
Foreign Operations
For the purpose of presenting the Group financial statements, the assets and liabilities of the Group’s foreign
operations are expressed in New Zealand dollars using exchange rates prevailing at the end of the reporting
period. Income and expense items are translated at the average exchange rates for the period, unless exchange
rates fluctuated significantly during that period, in which case the exchange rates at the dates of the transactions
are used. Exchange differences arising, if any, are recognised in other comprehensive income and accumulated as
a separate component of equity in the Group’s foreign currency translation reserve. Such exchange differences
are reclassified from equity to profit or loss (as a reclassification adjustment) in the period in which the foreign
operation is disposed of.
Foreign Currency Translation Reserve
Exchange differences relating to the translation from the functional currencies of the Group’s foreign subsidiaries into
New Zealand dollars are brought to account by entries made directly to the Foreign Currency Translation Reserve.
20. RECONCILIATION OF CASH FLOWS TO OPERATING ACTIVITIES WITH OPERATING NET LOSS
GROUP
2023
($000)
2022
$000
Net Loss for the Period (26,965) (19,788)
Add Non Cash Items:
Depreciation 527 263
Loss on disposal of Property, Plant and Equipment 24 11
Amortisation 427 156
Employee Share Options 1,273 839
Employee Bonuses paid in shares in lieu of cash 182 172
Depreciation on Right of Use Assets 1,179 1,064
Interest on finance leases shown in lease repayments 83 126
Total Non Cash Items 3,695 2,631
Add Movements in Other Working Capital items:
(Increase) in Receivables and Other Assets (1,641) (1,772)
Decrease in Inventory (280) (217)
Increase in Payables and Accruals 1,946 1,786
Effect of exchange rates on net cash (2,330) (192)
Total Movement in Other Working Capital (2,305) (395)
Net Cash Flows to Operating Activities (25,575) (17,552)
Notes to the Consolidated Financial Statements
For the year ended 31 March 2023
Notes to the Consolidated Financial Statements
For the year ended 31 March 2023
21. FINANCIAL INSTRUMENTS
ACCOUNTING POLICY
Foreign Currency Transactions
Financial instruments include cash and cash equivalents, short term deposits, receivables, security deposits, finance
lease liabilities and trade creditors. The particular recognition methods adopted are disclosed in the individual policy
statements associated with each item.
Managing Financial Risk
The Group’s activities expose it to the financial risks of changes in interest rate risk, credit risk, liquidity risk and
foreign currency risk. Management is of the opinion that the Company and the Group’s exposure to market risk
during the period and at balance date is defined as:
Risk FactorDescription
(i) Currency RiskFinancial assets and financial liabilities are denominated in NZD, USD, AUD, SGD and
EUR currencies
(ii) Interest Rate Risk Exposure to changes in Bank interest rates resulting in cash flow interest rate risk
(iii) Credit RiskRisk of financial loss if counterparty fails to meet contractual obligations
(iv) Liquidity RiskRisk the Group may not be able to meet its commitments as they fall due
(v) Other Price RiskNot applicable as no securities are bought, sold or traded
(i) Foreign Currency Risk
The Group faces the risk of movements in foreign currency exchange rates in relation to the New Zealand dollar.
The Group has significant operations in United States Dollars and less significant operations in Australian dollars,
Euros and Singapore dollars. As a result of this, the financial performance and financial position are impacted by
movements in exchange rates.
The Group manages foreign currency risk by purchasing overseas goods only when necessary and in line with the
approved treasury policy. It will also purchase foreign currency to fund overseas operations based on cash flow
forecasts in line with the approved treasury policy. There are no formal foreign currency hedges entered into.
A 10% increase or decrease in the foreign currency against the NZD will reduce/increase the loss reported by
approximately $337,000 (2022: $167,000) and increase/reduce equity by the same amount.
(ii) Interest Rate Risk
The Group’s interest rate risk arises from its cash and equivalents, and short term deposits. Cash and equivalents
comprise cash on hand and deposits at call with banks. Short term deposits comprise of term deposits placed with
New Zealand banks on fixed rates for different periods of time.
Management regularly review its banking arrangements to ensure it achieves the best returns on its funds while
maintaining access to necessary liquidity levels to service the Group’s day-to-day activities. The mixture of bank
deposits at floating interest rates and short term deposits at different rates over various periods of time mitigate the
risk of interest rates being received at less than market rates. The Group does not enter into interest rate hedges.
A 1% increase or decrease in bank deposit interest rates will reduce/increase the loss reported by approximately
$764,000 and increase/reduce equity by the same amount (2022: $1,041,000).
(iii) Credit Risk
Credit risk is the risk of financial loss to the Group if a customer or counterparty to a financial instrument fails to
meet its contractual obligations.
The Group incurs credit risk from:
a) cash and short term deposits;
b) receivables in the normal course of its business; and
c) other assets.
PACIFIC EDGE LIMITED ANNUAL REPORT 2023 5150 PACIFIC EDGE LIMITED ANNUAL REPORT 2023

Notes to the Consolidated Financial Statements
For the year ended 31 March 2023
The Group has no significant concentration of credit risk other than bank deposits, with the exposure as at 31
March 2023 expressed as a percentage of total assets: 24.0% at ANZ, 22.1% at BNZ, 20.3% at Westpac, 18% at
Kiwibank and 1.2% at Wells Fargo. The Group’s cash and short term deposits are placed with high credit quality
financial institutions including major banks who have at least a A+ credit rating and concentrations are managed
within the approved treasury policy.
Regular monitoring of receivables is undertaken to ensure that the credit exposure remains within the Group’s
normal terms of trade. These receivables balances mainly relate to New Zealand customers, and the New Zealand
and Australian Government. Refer to note 10 for further details on expected credit losses for receivables.
The Group continues to invoice for every billable test completed in the US, and the billing and reimbursement
process continues to maximise the cash that is received by the Group. The Group has included an accrual for
tests performed from 1 October 2022 to 31 March 2023 for which payment has not been received by 31 March
2023.
Regular monitoring of other assets is undertaken to ensure that the credit exposure is limited.
The carrying values of financial assets represent the maximum exposure to credit risk as represented below:
GROUP
Notes
2023
($000)
2022
($000)
Cash and Cash Equivalents933,22935,412
Short Term Deposits944,56270,000
Trade and Other Receivables (excludes GST)105,4203,895
Other Assets (excludes prepayments)12 244 169
83,455109,476
(iv) Liquidity Risk
Liquidity risk is the risk that the Group may encounter difficulty in raising funds at short notice to meet its
commitments as they fall due. Management maintains sufficient cash balances and uses cash flow forecasts to
determine future cash flow requirements. Liquidity risk is managed within the approved treasury policy. The Group
does not have any external loans but does have four finance leases.
Payables and Accruals totaling $6,928,000 are due within 3 months of balance date (2022: $4,983,000).
Fair Values
In the opinion of the Directors, the carrying amount of financial assets and financial liabilities approximate their fair
values at balance date.
Notes to the Consolidated Financial Statements
For the year ended 31 March 2023
22. RELATED PARTIES
A shareholder, the University of Otago, provided services, including rental space, car parking and use of University
Equipment, to the Group to the value of $407,000 (2022: $361,000). The Group has commitments totaling
$344,000 (2022: $269,000) with the University of Otago in the next financial year.
Key Management Compensation
Key management personnel comprise of Directors and the Chief Executive Officer of Pacific Edge Limited, and the
Chief Executive Officer and Executive Chairman of Pacific Edge Diagnostics USA Limited.
Refer to Note 8 for details of the Incentive Plan that includes key management remuneration.
GROUP
2023
($000)
2022
($000)
Salaries and Other Short Term Employee Benefits2,4832,207
Consulting Fees-105
Share Options Benefits907445
Total Employee Entitlements3,3902,757
Directors’ Fees
The current total Directors’ fee pool for non-executive Directors of Pacific Edge Limited, approved by the
shareholders at the Annual Shareholders Meeting on the 29th July 2021 was $465,000 per annum and was based
on six Directors. With the addition of Tony Barclay on 21 March 2022, the number of Directors increased to seven.
In accordance with NZX Listing Rule 2.11.3 which permits an issuer to increase the aggregate amount payable to
the Directors to take into account an additional Director without shareholder approval, the pool for non-executive
Directors of Pacific Edge increased to $529,000. The total amount of fees paid to Directors for the year ended 31
March 2023 was $495,000.
The table below sets out the total fees approved for non-executive Directors of Pacific Edge Limited for the year
ended 31 March 2023 based on the positions held:
Position
Quantity
2023
Fee per
Director
2023
($)
Total
Directors
Fees Paid
2023
($)
Quantity
2022
Fee per
Director
2022
($)
Total
Directors
Fees Paid
2022
($)
Chair1115,000115,0001115,000115,000
Deputy Chair 170,00070,000170,00070,000
Non-executive Directors560,000300,000460,000240,000
Chair Audit & Risk Committee110,00010,000110,00010,000
Special Governance Allocation---130,00030,000
Total Fee Pool495,000465,000
PACIFIC EDGE LIMITED ANNUAL REPORT 2023 5352 PACIFIC EDGE LIMITED ANNUAL REPORT 2023

Notes to the Consolidated Financial Statements
For the year ended 31 March 2023
23. FINANCE AND OPERATING LEASE COMMITMENTS
ACCOUNTING POLICY
The group leases various properties and equipment. Rental contracts vary depending on the type of asset
being leased. Lease terms are negotiated on an individual basis and contain a wide range of different terms and
conditions. The lease agreements do not impose any covenants, but leased assets may not be used as security for
borrowing purposes.
Contracts may contain both lease and non-lease components. The Group allocates the consideration in the
contract to the lease and non-lease components based on their relative stand-alone prices.
Leases are recognised as a right-of-use asset and a corresponding liability at the date at which the leased asset is
available for use by the Group. Each lease payment is allocated between the liability and finance cost. The finance
cost is charged to the Consolidated Statement of Comprehensive Income over the lease period to produce a
constant periodic rate of interest on the remaining balance of the liability for each period. The right-of-use asset is
depreciated over the shorter of the asset’s useful life and the lease term on a straight-line basis.
(i) Measurement basis
Assets and liabilities arising from a lease are initially measured on a present value basis. Lease liabilities include the
net present value of the following lease payments:
• fixed payments (including in-substance fixed payments), less any lease incentives receivable;
• variable lease payments that are based on an index or a rate;
• amounts expected to be payable by the lessee under residual value guarantees;
• the exercise price of a purchase option if the lessee is reasonably certain to exercise that option; and
• payments of penalties for terminating the lease, if the lease term reflects the lessee exercising that option.
Lease payments to be made under reasonably certain extension options are also included in the measurement of
the liability.
The lease payments are discounted using the interest rate implicit in the lease. If that rate cannot be readily
determined, which is generally the case for leases in the group, the lessee’s incremental borrowing rate is used. The
incremental borrowing rate is the rate that the individual lessee would have to pay to borrow the funds necessary
to obtain an asset of similar value to the right-of-use asset in a similar economic environment with similar terms,
security and conditions.
To determine the incremental borrowing rate, the Group:
• where possible, uses recent third-party financing received by the individual lessee as a starting point, adjusted to
reflect changes in financing conditions since third-party financing was received;
• uses a build-up approach that starts with a risk-free interest rate adjusted for credit risk for leases held by Pacific
Edge Limited, which does not have recent third-party financing; and
• makes adjustments specific to the lease, e.g. term, country, currency and security.
The Group is exposed to potential future increases in variable lease payments based on an index or rate, which are
not included in the lease liability until they take effect. When adjustments to lease payments based on an index or
rate take effect, the lease liability is reassessed and adjusted against the right-of-use asset.
Lease payments are allocated between principal and finance cost. The finance cost is charged to the Consolidated
Statement of Comprehensive Income over the lease period to produce a constant periodic rate of interest on the
remaining balance of the liability for each period.
Right-of-use assets are measured at cost comprising the following:
• the amount of the initial measurement of lease liability;
• any lease payments made at or before the commencement date;
• any initial direct costs; and
• restoration costs.
Right-of-Use assets are generally depreciated over the shorter of the asset’s useful life and the lease term on
a straight-line basis. If the Group is reasonably certain to exercise a purchase option, the Right-of-Use asset is
depreciated over the underlying asset’s useful life.
Notes to the Consolidated Financial Statements
For the year ended 31 March 2023
Payments associated with short-term leases and leases of low-value assets are recognised on a straight-line basis
as an expense in profit or loss. Short-term leases are leases with a lease term of 12 months or less. Low-value assets
include IT equipment and small items of office furniture.
Right of Use Assets
GROUP
2023
($000)
2022
($000)
Cost
Opening Balance 3,605 3,914
Additions 337 179
Removals (Leases Completed)- (366)
Foreign Currency Translation 249 (122)
Closing Balance 4,191 3,605

Accumulated Depreciation
Opening Balance 1,775 937
Depreciation 1,179 1,064
Reversal of Accumulated Depreciation (Leases Completed)- (153)
Foreign Currency Translation94 (73)
Closing Balance 3,048 1,775
Net Right of Use Assets Balance 1,143 1,830
Right of Use Assets Net Book Value
Buildings 1,128 1,792
Computer Equipment 15 38
Plant and Equipment- -
1,143 1,830
Depreciation
Buildings 1,152 1,018
Computer Equipment 27 24
Plant and Equipment- 22
1,179 1,064
Expenses relating to Short Term and Low Value Leases 115 74
Total Cash Outflow relating to Leases 1,278 1,273
PACIFIC EDGE LIMITED ANNUAL REPORT 2023 5554 PACIFIC EDGE LIMITED ANNUAL REPORT 2023

Notes to the Consolidated Financial Statements
For the year ended 31 March 2023
GROUP
Lease Liability
2023
($000)
2022
($000)
Opening Balance 1,923 2,878
Additions337 148
Lease Terminated- Liability Reversed- -
Lease Repayments (1,286) (1,230)
Interest Charged 83 126
Foreign Currency Translation165 1
Closing Balance 1,222 1,923
Split by:
Current Liability 811 1,072
Non-Current Liability 411 851
1,222 1,923
The maturity of the Lease Liabilities is as follows:
Less than one year 811 1,072
One to two years 116 671
Two to three years 122 51
More than three years 173 129
1,222 1,923
24. OTHER COMMITMENTS AND CONTINGENT LIABILITIES
a) Contingent Liabilities
There were no known contingent liabilities at 31 March 2023 (March 2022: Nil). The Group has not granted any
securities in respect of liabilities payable by any other party whatsoever.
b) Capital Commitments
There are no capital commitments at 31 March 2023 (March 2022: Nil).
25. PROPOSED LOCAL COVERAGE DETERMINATION (LCD) AND LOCAL COVERAGE
ARTICLE (LCA) CHANGES - POTENTIAL IMPACT ON REVENUE
On 29 July 2022 Pacific Edge Limited became aware of proposed changes by Novitas, the Medicare Administrative
Contractor (MAC) with jurisdiction for Pacific Edge’s US laboratory to the Local Coverage Determination (LCD)
and Local Coverage Article (LCA) that governs the reimbursement of Cxbladder in the US by the US Centers for
Medicare & Medicaid Services (CMS).
If the proposed LCD (DL39365) and LCA (DA59125) were approved unchanged, Cxbladder would not qualify for
coverage from Novitas for tests reimbursed by the CMS. These tests represent a significant portion of current
Cxbladder testing revenue. Multiple companies that have existing coverage, or are seeking coverage, are similarly
impacted by this proposal.
Notes to the Consolidated Financial Statements
For the year ended 31 March 2023
Having consulted with US-based advisers and industry experts, Pacific Edge believes the proposed changes are
unlikely to survive the ongoing review process in their current form. The consensus view of those consulted by
Pacific Edge was that the proposed changes to the LCD/LCA are contrary to US legal requirements and precedent.
The proposed changes also fundamentally change the process for determining coverage for specific tests and
could deprive US clinicians and Medicare patients access to diagnostic tools with proven, peer-reviewed clinical
utility.
Novitas closed the period for public comments on the proposals on 6 September 2022. Novitas has not provided
a specific date for a decision, however Pacific Edge understands Novitas must either publish or withdraw the draft
LCD/LCA within a year of the date of proposal, being 28 July 2023. When publishing, Novitas is required to address
all comments from Pacific Edge and other companies, and at their discretion may elect to alter the text of the draft
LCD/LCA in response to those comments when publishing. Pacific Edge understands CMS is required to give at
least 45 days’ notice of the effective determination date.
Pacific Edge received payment in line with the existing LCD/LCA for the financial year ended 31 March 2023, and to
the date of approval of these Consolidated Financial Statements. However, the Company is unable to determine the
future impact, if any, at the date of approval of these Consolidated Financial Statements.
26. SUBSEQUENT EVENTS
There are no subsequent events.
PACIFIC EDGE LIMITED ANNUAL REPORT 2023 5756 PACIFIC EDGE LIMITED ANNUAL REPORT 2023

Independent auditor’s report
To the shareholders of Pacific Edge Limited
Our opinion
In our opinion, the accompanying consolidated financial statements of Pacific Edge Limited (the
Company), including its subsidiaries (the Group), present fairly, in all material respects, the financial
position of the Group as at 31 March 2023, its financial performance and its cash flows for the year
then e
nded in accordance with New Zealand Equivalents to International Financial Reporting
Standards (NZ IFRS) and International Financial Reporting Standards (IFRS).
What we have audited
The Group's consolidated financial statements comprise:
● the consolidated balance sheet as at 31 March 2023;
● the consolidated statement of comprehensive income for the year then ended;
● the consolidated st
atement of changes in equity for the year then ended;
● the consolidated statement of cash flows for the year then ended; and
● the notes to the consolidated financial statements, which include significant accounting policies
and other explanatory information.
Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (New Zealand) (ISAs
(NZ)) and Inter
national Standards on Auditing (ISAs). Our responsibilities under those standards are
further described in the Auditor’s responsibilities for the audit of the consolidated financial statements
section of our report.
We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis
for our opinion.
Independence
We are independent of the Group in accordance
with Professional and Ethical Standard 1 International
Code of Ethics for Assurance Practitioners (including International Independence Standards)
(New Zealand) (PES 1) issued by the New Zealand Auditing and Assurance Standards Board and the
International Code of Ethics for Professional Accountants (including International Independence
Standards) issued by the International Ethics Standar
ds Board for Accountants (IESBA Code), and we
have fulfilled our other ethical responsibilities in accordance with these requirements.
Our firm carries out other services for the Group in the areas of half year review procedures and with
providing other assurance services. The provision of these other services have not impaired our
independence as auditor of the Group.
Key audit matters
Key
audit matters are those matters that, in our professional judgement, were of most significance in
our audit of the consolidated financial statements of the current year. These matters were addressed
in the context of our audit of the consolidated financial statements as a whole, and in forming our
opinion thereon, and we do not provide a separate opinion on these matters.
PricewaterhouseCoopers, PwC Centre, 60 Cashel Street, PO Box 13-244, Christchurch 8141 New Zealand
T: +64 3 374 3000, www.pwc.co.nz
Independent auditor’s report
To the shareholders of Pacific Edge Limited
Our opinion
In our opinion, the accompanying consolidated financial statements of Pacific Edge Limited (the
Company), including its subsidiaries (the Group), present fairly, in all material respects, the financial
position of the Group as at 31 March 2023, its financial performance and its cash flows for the year
then e
nded in accordance with New Zealand Equivalents to International Financial Reporting
Standards (NZ IFRS) and International Financial Reporting Standards (IFRS).
What we have audited
The Group's consolidated financial statements comprise:
● the consolidated balance sheet as at 31 March 2023;
● the consolidated statement of comprehensive income for the year then ended;
● the consolidated st
atement of changes in equity for the year then ended;
● the consolidated statement of cash flows for the year then ended; and
● the notes to the consolidated financial statements, which include significant accounting policies
and other explanatory information.
Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (New Zealand) (ISAs
(NZ)) and Inter
national Standards on Auditing (ISAs). Our responsibilities under those standards are
further described in the Auditor’s responsibilities for the audit of the consolidated financial statements
section of our report.
We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis
for our opinion.
Independence
We are independent of the Group in accordance
with Professional and Ethical Standard 1 International
Code of Ethics for Assurance Practitioners (including International Independence Standards)
(New Zealand) (PES 1) issued by the New Zealand Auditing and Assurance Standards Board and the
International Code of Ethics for Professional Accountants (including International Independence
Standards) issued by the International Ethics Standar
ds Board for Accountants (IESBA Code), and we
have fulfilled our other ethical responsibilities in accordance with these requirements.
Our firm carries out other services for the Group in the areas of half year review procedures and with
providing other assurance services. The provision of these other services have not impaired our
independence as auditor of the Group.
Key audit matters
Key
audit matters are those matters that, in our professional judgement, were of most significance in
our audit of the consolidated financial statements of the current year. These matters were addressed
in the context of our audit of the consolidated financial statements as a whole, and in forming our
opinion thereon, and we do not provide a separate opinion on these matters.
PricewaterhouseCoopers, PwC Centre, 60 Cashel Street, PO Box 13-244, Christchurch 8141 New Zealand
T: +64 3 374 3000, www.pwc.co.nz
PwC
Description of the key audit matter
How our audit addressed the key audit
matter
Determining the timing of revenue recognition for
US revenue
As disclosed in Note 5 of the consolidated financial
statements, the timing of revenue recognition for US
based revenue varies by revenue stream between
completion of the Cxbladder test and receipt of cash.
The Company has three material United States (US)
revenue streams:
1. Coverage via Centers for Medicare and Medicaid
Services (CMS) and Medicare Advantage;
2. Tests performed for Kaiser Permanente; and
3. Other private insurance.
In July 2020, the Company received Local Coverage
Determination (“LCD”) and Local Coverage Article
(LCA) for CMS. This determination created a set
price for the Company’s tests of US$760 per test
from July 2020, and established a clear transaction
price for the tests. This transaction price, along with a
history of payment, satisfies the NZ IFRS
requirement for revenue recognition. On 29 July
2022, the company became aware of the proposed
changes to the LCD/LCA by Novitas. This has the
potential to significantly change the reimbursement of
Cxbladder tests in the US as the tests represent a
significant portion of current Cxbladder testing
revenue. The LCD/LCA is still in place and the
Company continues to receive reimbursement in line
with the existing LCD/LCA. The uncertainty in respect
of future operations is disclosed in Note 25.
In the year ended 31 March 2023, the basis of
revenue recognition for Kaiser Permanente changed
to an accrual basis, in line with Medicare and
Medicare Advantage, from the cash basis in the prior
year. This is a change in accounting estimate and
has been disclosed in Note 5.
Accordingly, in the US derived revenue for tests
performed for CMS, Medicare Advantage and Kaiser
Permanente has been recognised in advance of cash
being received. Revenue for these customers is
recognised when the tests are performed.
All other US derived revenue is accounted for on a
cash receipt basis as disclosed in Note 5.
We determined this to be a key audit matter due to
the significance of the judgments applied by Directors
for revenue recognition and the potential impact of
changes in the proposed LCD/LCA.
Our audit procedures included the following:
We obtained an understanding of management’s
processes and controls for the CMS, Medicare
Advantage, Kaiser Permanente and Private
Insurance US revenue streams, including the
relevant controls at the external billing
reimbursements service organisation.
We obtained the SOC1 System and Organisation
Controls Report for the external billing reimbursement
service organisation, and evaluated the evidence
provided over the design and operating effectiveness
of the relevant controls.
We evaluated management’s determination of the
timing of revenue recognition by:
● Assessing the data supporting revenue
recognition for CMS and Medicare Advantage to
confirm that the transaction price can be
determined and collectability is probable;
● Obtaining management’s latest assessment,
correspondence and other information in relation
to the status of the proposed LCD/LCA;
● Assessing the data supporting the change in
accounting estimate for revenue recognition for
Kaiser Permanente;
● Assessing the data supporting revenue
recognition for other private insurance to confirm
that the transaction price and collectability is only
probable when cash is received;
● Performing subsequent receipt testing to validate
the probability of collection of the year end
receivables and performing look back
procedures over the prior year receivable to test
collection rates; and
● Evaluated whether revenue has been recognised
appropriately in accordance with NZ IFRS 15.
We have no matters to report from the procedures
performed above.

Independent auditor’s report
To the shareholders of Pacific Edge Limited
Our opinion
In our opinion, the accompanying consolidated financial statements of Pacific Edge Limited (the
Company), including its subsidiaries (the Group), present fairly, in all material respects, the financial
position of the Group as at 31 March 2023, its financial performance and its cash flows for the year
then e
nded in accordance with New Zealand Equivalents to International Financial Reporting
Standards (NZ IFRS) and International Financial Reporting Standards (IFRS).
What we have audited
The Group's consolidated financial statements comprise:
● the consolidated balance sheet as at 31 March 2023;
● the consolidated statement of comprehensive income for the year then ended;
● the consolidated st
atement of changes in equity for the year then ended;
● the consolidated statement of cash flows for the year then ended; and
● the notes to the consolidated financial statements, which include significant accounting policies
and other explanatory information.
Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (New Zealand) (ISAs
(NZ)) and Inter
national Standards on Auditing (ISAs). Our responsibilities under those standards are
further described in the Auditor’s responsibilities for the audit of the consolidated financial statements
section of our report.
We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis
for our opinion.
Independence
We are independent of the Group in accordance
with Professional and Ethical Standard 1 International
Code of Ethics for Assurance Practitioners (including International Independence Standards)
(New Zealand) (PES 1) issued by the New Zealand Auditing and Assurance Standards Board and the
International Code of Ethics for Professional Accountants (including International Independence
Standards) issued by the International Ethics Standar
ds Board for Accountants (IESBA Code), and we
have fulfilled our other ethical responsibilities in accordance with these requirements.
Our firm carries out other services for the Group in the areas of half year review procedures and with
providing other assurance services. The provision of these other services have not impaired our
independence as auditor of the Group.
Key audit matters
Key
audit matters are those matters that, in our professional judgement, were of most significance in
our audit of the consolidated financial statements of the current year. These matters were addressed
in the context of our audit of the consolidated financial statements as a whole, and in forming our
opinion thereon, and we do not provide a separate opinion on these matters.
PricewaterhouseCoopers, PwC Centre, 60 Cashel Street, PO Box 13-244, Christchurch 8141 New Zealand
T: +64 3 374 3000, www.pwc.co.nz
Independent auditor’s report
To the shareholders of Pacific Edge Limited
Our opinion
In our opinion, the accompanying consolidated financial statements of Pacific Edge Limited (the
Company), including its subsidiaries (the Group), present fairly, in all material respects, the financial
position of the Group as at 31 March 2023, its financial performance and its cash flows for the year
then e
nded in accordance with New Zealand Equivalents to International Financial Reporting
Standards (NZ IFRS) and International Financial Reporting Standards (IFRS).
What we have audited
The Group's consolidated financial statements comprise:
● the consolidated balance sheet as at 31 March 2023;
● the consolidated statement of comprehensive income for the year then ended;
● the consolidated st
atement of changes in equity for the year then ended;
● the consolidated statement of cash flows for the year then ended; and
● the notes to the consolidated financial statements, which include significant accounting policies
and other explanatory information.
Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (New Zealand) (ISAs
(NZ)) and Inter
national Standards on Auditing (ISAs). Our responsibilities under those standards are
further described in the Auditor’s responsibilities for the audit of the consolidated financial statements
section of our report.
We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis
for our opinion.
Independence
We are independent of the Group in accordance
with Professional and Ethical Standard 1 International
Code of Ethics for Assurance Practitioners (including International Independence Standards)
(New Zealand) (PES 1) issued by the New Zealand Auditing and Assurance Standards Board and the
International Code of Ethics for Professional Accountants (including International Independence
Standards) issued by the International Ethics Standar
ds Board for Accountants (IESBA Code), and we
have fulfilled our other ethical responsibilities in accordance with these requirements.
Our firm carries out other services for the Group in the areas of half year review procedures and with
providing other assurance services. The provision of these other services have not impaired our
independence as auditor of the Group.
Key audit matters
Key
audit matters are those matters that, in our professional judgement, were of most significance in
our audit of the consolidated financial statements of the current year. These matters were addressed
in the context of our audit of the consolidated financial statements as a whole, and in forming our
opinion thereon, and we do not provide a separate opinion on these matters.
PricewaterhouseCoopers, PwC Centre, 60 Cashel Street, PO Box 13-244, Christchurch 8141 New Zealand
T: +64 3 374 3000, www.pwc.co.nz
PACIFIC EDGE LIMITED ANNUAL REPORT 2023 5958 PACIFIC EDGE LIMITED ANNUAL REPORT 2023

PwC
Our audit approach

Overview
Overall group materiality: approximately $718,000, which represents 2.5% of
(loss)/earnings before interest, tax, depreciation and amortisation (EBITDA).
We chose (loss)/earnings before interest, tax, depreciation and amortisation
(EBITDA) as the benchmark because, in our view, it is the benchmark
against which the performance of the Group is most commonly measured by
users, and is a generally accepted benchmark.
We tailored the scope of our audit in order to perform sufficient work to
enable us to provide an opinion on the consolidated financial statements as
a whole, taking into account the structure of the Group, the accounting
processes and controls, and the industry in which the Group operates.
As reported above, we have one key audit matter, being:
● Determining the timing of revenue recognition for US revenue.

As part of designing our audit, we determined materiality and assessed the risks of material
misstatement in the consolidated financial statements. In particular, we considered where
management made subjective judgements; for example, in respect of significant accounting estimates
that involved making assumptions a
nd considering future events that are inherently uncertain. As in all
of our audits, we also addressed the risk of management override of internal controls, including among
other matters, consideration of whether there was evidence of bias that represented a risk of material
misstatement due to fraud.
Materiality
The scope of our audit was influenced by our application of materiality. An audi
t is designed to obtain
reasonable assurance about whether the consolidated financial statements are free from material
misstatement. Misstatements may arise due to fraud or error. They are considered material if,
individually or in aggregate, they could reasonably be expected to influence the economic decisions of
users taken on the basis of the consolidated financial statements.
Based on ou
r professional judgement, we determined certain quantitative thresholds for materiality,
including the overall Group materiality for the consolidated financial statements as a whole as set out
above. These, together with qualitative considerations, helped us to determine the scope of our audit,
the nature, timing and extent of our audit procedures and to evaluate the effect of misstatements, bo
th
individually and in aggregate, on the consolidated financial statements as a whole.
How we tailored our group audit scope
We tailored the scope of our audit in order to perform sufficient work to enable us to provide an opinion
on the consolidated financial statements as a whole, taking into account the structure of the Group, the
accounting processes and controls, and the industry in whic
h the Group operates.
We selected transactions and balances to audit based on their materiality to the Group rather than
determining the scope of procedures to perform by auditing only specific subsidiaries or business
units.
PwC
Other information
The Directors are responsible for the other information. The other information comprises the information
included in the Annual report, but does not include the consolidated financial statements and our
auditor's report thereon. The Annual report is expected to be made available to us after the date of this
auditor's report.
Our opinion on the consolidated financial stateme
nts does not cover the other information and we will
not express any form of audit opinion or assurance conclusion thereon.
In connection with our audit of the consolidated financial statements, our responsibility is to read the
other information and, in doing so, consider whether the other information is materially inconsistent with
the consolidated financial statements or our knowledge obtai
ned in the audit, or otherwise appears to be
materially misstated.
When we read the other information not yet received, if we conclude that there is a material
misstatement therein, we are required to communicate the matter to the Directors and use our
professional judgement to determine the appropriate action to take.
Responsibilities of the Directors for the consolidated financial statement
s
The Directors are responsible, on behalf of the Company, for the preparation and fair presentation of the
consolidated financial statements in accordance with NZ IFRS and IFRS, and for such internal control as
the Directors determine is necessary to enable the preparation of consolidated financial statements that
are free from material misstatement, whether due to fraud or error.
In prepari
ng the consolidated financial statements, the Directors are responsible for assessing the
Group’s ability to continue as a going concern, disclosing, as applicable, matters related to going
concern and using the going concern basis of accounting unless the Directors either intend to liquidate
the Group or to cease operations, or have no realistic alternative but to do so.
Auditor’s responsibil
ities for the audit of the consolidated financial statements
Our objectives are to obtain reasonable assurance about whether the consolidated financial statements,
as a whole, are free from material misstatement, whether due to fraud or error, and to issue an auditor’s
report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a
guarantee that an audit cond
ucted in accordance with ISAs (NZ) and ISAs will always detect a material
misstatement when it exists. Misstatements can arise from fraud or error and are considered material if,
individually or in the aggregate, they could reasonably be expected to influence the economic decisions
of users taken on the basis of these consolidated financial statements.
A further description of our responsibili
ties for the audit of the consolidated financial statements is
located at the External Reporting Board’s website at:
https://www.xrb.govt.nz/assurance-standards/auditors-responsibilities/audit-report-1/
This description forms part of our auditor’s report.
Who we report to
This report is made solely to the Company’s shareholders, as a body. Our audit work has been
undertaken so that we might
state those matters which we are required to state to them in an auditor’s
report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume
responsibility to anyone other than the Company and the Company’s shareholders, as a body, for our
audit work, for this report or for the opinions we have formed.

Independent auditor’s report
To the shareholders of Pacific Edge Limited
Our opinion
In our opinion, the accompanying consolidated financial statements of Pacific Edge Limited (the
Company), including its subsidiaries (the Group), present fairly, in all material respects, the financial
position of the Group as at 31 March 2023, its financial performance and its cash flows for the year
then e
nded in accordance with New Zealand Equivalents to International Financial Reporting
Standards (NZ IFRS) and International Financial Reporting Standards (IFRS).
What we have audited
The Group's consolidated financial statements comprise:
● the consolidated balance sheet as at 31 March 2023;
● the consolidated statement of comprehensive income for the year then ended;
● the consolidated st
atement of changes in equity for the year then ended;
● the consolidated statement of cash flows for the year then ended; and
● the notes to the consolidated financial statements, which include significant accounting policies
and other explanatory information.
Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (New Zealand) (ISAs
(NZ)) and Inter
national Standards on Auditing (ISAs). Our responsibilities under those standards are
further described in the Auditor’s responsibilities for the audit of the consolidated financial statements
section of our report.
We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis
for our opinion.
Independence
We are independent of the Group in accordance
with Professional and Ethical Standard 1 International
Code of Ethics for Assurance Practitioners (including International Independence Standards)
(New Zealand) (PES 1) issued by the New Zealand Auditing and Assurance Standards Board and the
International Code of Ethics for Professional Accountants (including International Independence
Standards) issued by the International Ethics Standar
ds Board for Accountants (IESBA Code), and we
have fulfilled our other ethical responsibilities in accordance with these requirements.
Our firm carries out other services for the Group in the areas of half year review procedures and with
providing other assurance services. The provision of these other services have not impaired our
independence as auditor of the Group.
Key audit matters
Key
audit matters are those matters that, in our professional judgement, were of most significance in
our audit of the consolidated financial statements of the current year. These matters were addressed
in the context of our audit of the consolidated financial statements as a whole, and in forming our
opinion thereon, and we do not provide a separate opinion on these matters.
PricewaterhouseCoopers, PwC Centre, 60 Cashel Street, PO Box 13-244, Christchurch 8141 New Zealand
T: +64 3 374 3000, www.pwc.co.nz
Independent auditor’s report
To the shareholders of Pacific Edge Limited
Our opinion
In our opinion, the accompanying consolidated financial statements of Pacific Edge Limited (the
Company), including its subsidiaries (the Group), present fairly, in all material respects, the financial
position of the Group as at 31 March 2023, its financial performance and its cash flows for the year
then e
nded in accordance with New Zealand Equivalents to International Financial Reporting
Standards (NZ IFRS) and International Financial Reporting Standards (IFRS).
What we have audited
The Group's consolidated financial statements comprise:
● the consolidated balance sheet as at 31 March 2023;
● the consolidated statement of comprehensive income for the year then ended;
● the consolidated st
atement of changes in equity for the year then ended;
● the consolidated statement of cash flows for the year then ended; and
● the notes to the consolidated financial statements, which include significant accounting policies
and other explanatory information.
Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (New Zealand) (ISAs
(NZ)) and Inter
national Standards on Auditing (ISAs). Our responsibilities under those standards are
further described in the Auditor’s responsibilities for the audit of the consolidated financial statements
section of our report.
We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis
for our opinion.
Independence
We are independent of the Group in accordance
with Professional and Ethical Standard 1 International
Code of Ethics for Assurance Practitioners (including International Independence Standards)
(New Zealand) (PES 1) issued by the New Zealand Auditing and Assurance Standards Board and the
International Code of Ethics for Professional Accountants (including International Independence
Standards) issued by the International Ethics Standar
ds Board for Accountants (IESBA Code), and we
have fulfilled our other ethical responsibilities in accordance with these requirements.
Our firm carries out other services for the Group in the areas of half year review procedures and with
providing other assurance services. The provision of these other services have not impaired our
independence as auditor of the Group.
Key audit matters
Key
audit matters are those matters that, in our professional judgement, were of most significance in
our audit of the consolidated financial statements of the current year. These matters were addressed
in the context of our audit of the consolidated financial statements as a whole, and in forming our
opinion thereon, and we do not provide a separate opinion on these matters.
PricewaterhouseCoopers, PwC Centre, 60 Cashel Street, PO Box 13-244, Christchurch 8141 New Zealand
T: +64 3 374 3000, www.pwc.co.nz
PACIFIC EDGE LIMITED ANNUAL REPORT 2023 6160 PACIFIC EDGE LIMITED ANNUAL REPORT 2023

PwC
The engagement partner on the audit resulting in this independent auditor’s report is Maxwell John
Dixon.
For and on behalf of:
Chartered Accountants Christchurch
24 May 2023
Strong governance is fundamental to the performance of Pacific Edge Limited (the Company) and Pacific
Edge’s Board is ultimately responsible for ensuring that the Company and its subsidiaries (the Group)
maintain high ethical standards and corporate governance practices.
Pacific Edge is committed to maintaining the highest standards of governance. It does this by ensuring that
its corporate governance practices are in line with best practice and the NZX Corporate Governance Code
issued 17 June 2022 (NZX Code). The Board believes that for FY 23, Pacific Edge’s governance practices are
appropriately aligned with the NZX Code.
The key corporate governance documents referred to in this report are available on Pacific Edge’s website
https://www.pacificedgedx.com/investors/governance/.
PRINCIPLE 1: CODE OF ETHICAL BEHAVIOUR
“Directors should set high standards of ethical behaviour, model this behaviour and hold management
accountable for these standards being followed throughout the organisation.”
CODE OF ETHICS
Pacific Edge maintains high standards of ethical behaviour and has both a Directors’ Code of Ethics and
an Ethical Behaviour Policy for employees of the Company, setting out the standards that each Director or
employee must adhere to whilst conducting their duties. The Code and Policy are reviewed every two years.
General principles within both Policies include (but are not limited to) requiring all Directors and employees
to:
• act honestly and with personal integrity in all actions;
• in the case of Directors, give proper attention to the matters before them and exercise their powers and
duties with a due degree of care and diligence;
• not make improper use of information acquired as a Director or employee, or of assets or resources of
the Company; and
• comply with Company policies at all times.
In particular, the Code and Policy cover conflicts of interest, gifts, confidentiality, behaviour and proper use
of assets and information. Pacific Edge’s policy is that donations are not made to any political parties.
Employees are encouraged to report any breaches. Pacific Edge has a Speak Up Policy that is designed
to ensure its employees and contractors are aware and encouraged to raise concerns regarding actual or
suspected wrong doing with regards to ethical, clinical, professional and legal standards in a safe, supported
and protected environment. Alongside the Speak Up Policy, Pacific Edge has a Protected Disclosures Policy
that is designed to promote the public interest by facilitating the disclosure and investigation of matters of
serious wrongdoing whilst protecting complainants who make disclosures of serious wrongdoing in good
faith in an organisation from victimisation or reprisals.
Processes have been established to ensure all employees are aware of and understand these Policies.
SHARE TRADING POLICY
Pacific Edge’s Board and management are committed to ensuring compliance with all regulatory and
market requirements. Pacific Edge’s Share Trading Policy, which applies to all employees and Directors but
has additional trading restrictions applying to Directors and Senior Managers is a core component of this
commitment. Details of Directors’ share dealings are set out on page 83 of this report.
These policies were most recently reviewed and updated in June 2020, and are in the process of being
refreshed in accordance with the NZX Corporate Governance Code dated 1 April 2023 that applies to
Pacific Edge for FY 24.
CORPORATE GOVERNANCE
Independent auditor’s report
To the shareholders of Pacific Edge Limited
Our opinion
In our opinion, the accompanying consolidated financial statements of Pacific Edge Limited (the
Company), including its subsidiaries (the Group), present fairly, in all material respects, the financial
position of the Group as at 31 March 2023, its financial performance and its cash flows for the year
then e
nded in accordance with New Zealand Equivalents to International Financial Reporting
Standards (NZ IFRS) and International Financial Reporting Standards (IFRS).
What we have audited
The Group's consolidated financial statements comprise:
● the consolidated balance sheet as at 31 March 2023;
● the consolidated statement of comprehensive income for the year then ended;
● the consolidated st
atement of changes in equity for the year then ended;
● the consolidated statement of cash flows for the year then ended; and
● the notes to the consolidated financial statements, which include significant accounting policies
and other explanatory information.
Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (New Zealand) (ISAs
(NZ)) and Inter
national Standards on Auditing (ISAs). Our responsibilities under those standards are
further described in the Auditor’s responsibilities for the audit of the consolidated financial statements
section of our report.
We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis
for our opinion.
Independence
We are independent of the Group in accordance
with Professional and Ethical Standard 1 International
Code of Ethics for Assurance Practitioners (including International Independence Standards)
(New Zealand) (PES 1) issued by the New Zealand Auditing and Assurance Standards Board and the
International Code of Ethics for Professional Accountants (including International Independence
Standards) issued by the International Ethics Standar
ds Board for Accountants (IESBA Code), and we
have fulfilled our other ethical responsibilities in accordance with these requirements.
Our firm carries out other services for the Group in the areas of half year review procedures and with
providing other assurance services. The provision of these other services have not impaired our
independence as auditor of the Group.
Key audit matters
Key
audit matters are those matters that, in our professional judgement, were of most significance in
our audit of the consolidated financial statements of the current year. These matters were addressed
in the context of our audit of the consolidated financial statements as a whole, and in forming our
opinion thereon, and we do not provide a separate opinion on these matters.
PricewaterhouseCoopers, PwC Centre, 60 Cashel Street, PO Box 13-244, Christchurch 8141 New Zealand
T: +64 3 374 3000, www.pwc.co.nz
PACIFIC EDGE LIMITED ANNUAL REPORT 2023 6362 PACIFIC EDGE LIMITED ANNUAL REPORT 2023

NOMINATION AND APPOINTMENT OF DIRECTORS
The procedure for the nomination and appointment of Directors to the Board is set out in the Charter.
While the nomination process for new Director appointments is the responsibility of the Board as a whole,
the Nomination Committee is responsible for identifying, reviewing and recommending candidates to the
full Board. The Board may engage consultants to assist in the identification, recruitment and appointment
of suitable candidates. The Company undertakes proper checks before appointing a Director and putting
forward a candidate for election as a Director. Key information is provided to shareholders when a Director
stands for election or re-election.
Directors will retire and may stand for re-election by shareholders at least every three years, in accordance
with the NZX Listing Rules. A Director appointed since the previous annual meeting holds office only until
the next annual meeting but is eligible for re-election at that meeting.
The Board asks for Director nominations each year prior to the Annual Shareholders Meeting, in accordance
with the constitution of the Company and the NZX Listing Rules.
INDUCTION AND PROFESSIONAL DEVELOPMENT
Newly elected Directors undergo a formal induction programme to ensure they have working knowledge of
our business. This includes one-on-one meetings with management and a tour of the laboratory and R&D
facilities. They are expected to familiarise themselves with their obligations under the constitution, Board
Charter and the NZX Listing Rules. Training is also provided to new and existing Directors where required to
enable Directors to understand their obligations.
The Company encourages all Directors to undertake appropriate training and education so that they
may best perform their duties. This includes attending presentations on changes in governance, legal
and regulatory frameworks; attending technical and professional development courses; and attending
presentations from industry experts and key advisers. Additional industry related training is provided by
Pacific Edge on a regular basis.
BOARD PERFORMANCE
The performance of the Board is reviewed periodically to assess the performance of each Director, each
Committee and the Board as a whole. The most recent evaluation of Board performance was undertaken
in September 2022. The Chair of the Board also regularly engages with individual Directors to evaluate and
discuss performance and professional development.
DIVERSITY
Pacific Edge is committed to bringing diversity to life in its employment practices and across all aspects of
the business.
The Board and Company believe in creating a flexible workplace that values difference and enhances
business outcomes. We follow equal employment practices, ensuring that our recruitment and selection,
development and talent management approaches enable inclusion and diversity at all levels.
The Diversity Policy outlines Pacific Edge’s approach towards diversity. While no measurable targets have
been set for diversity, the People and Culture Committee provides oversight of employment practices
and HR processes and practices and the Board is comfortable that these are in line with the intent of the
Diversity Policy.
Pacific Edge’s workforce demonstrates balance between genders across the business, but a skew to males
is evident in the leadership teams and on the Board. We recognize opportunities to increase diversity at all
levels of the workforce.
Pacific Edge will always hire the best person for the job based on capability, acceptance and best fit for the
business. We actively seek out those with a variety of thinking styles, backgrounds, and abilities. Where two
candidates applying for a role possess equivalent capability, competence and fit, then diversity becomes
the final criteria for appointment. We actively monitor for bias in both our recruitment process and our
remuneration practices.
PRINCIPLE 2: BOARD COMPOSITION & PERFORMANCE
“To ensure an effective Board, there should be a balance of independence, skills, knowledge, experience
and perspectives.”
Pacific Edge’s Board operates under a written Board of Directors’ Charter (Charter) which sets out the
roles and responsibilities of the Board (and clearly distinguishes and discloses the respective roles and
responsibilities of the Board and management). The focus of the Board is the creation of company and
shareholder value and ensuring the Company is committed to best practice. The Charter was most recently
reviewed and updated in June 2020, and is in the process of being refreshed in accordance with the NZX
Corporate Governance Code dated 1 April 2023 that applies to Pacific Edge for FY 24.
Responsibility for the day-to-day management of Pacific Edge has been delegated to the Chief Executive
Officer (CEO) and other Senior Management. Management is responsible for implementing the objectives
and strategies approved by the Board, through a set of delegated authorities.
The primary responsibilities of the Board include:
• Overall governance and providing strategic leadership
• Ensuring compliance with the Company’s constitution
• Setting clear goals for the Company, ensuring that there are appropriate strategies in place for
achieving those goals
• Monitoring the Company’s performance against its approved strategic, business and financial plans
• Appointment of the Chair and CEO
• Ensuring that the Company follows high standards of ethical and corporate behaviour
• Ensuring that the Company has appropriate risk management policies in place
• Appointing the Company auditors and setting the annual auditors fees
As at 31 March 2023, the Board was comprised of seven non-executive independent Directors. There were
no changes to the Board during the year ended 31 Match 2023.
The Chairman is an independent Director who is elected by the Directors. The Chairman and the CEO roles
are not executed by the same individual.
Directors are selected based on the diversity of skills needed as defined by the Company’s skills matrix
taking into account the composition of the Board in relation to the Company’s needs and operating
environment. The Board considers that its members currently have the appropriate balance of
independence, skills, knowledge, experience and perspectives necessary to lead Pacific Edge.
Posible focus of New
Board Appointments
Medicine/Science
Financial Acumen
Sales/Marketing/Distribution
Legal/Regulatory/Risk
Corporate Governance
New Market Development
Capital and Financial Markets
Health, Safety, Environment and Sustainability
■ High Capability ■ Moderate Capability
Details of each Director, along with their experience, length of service, independence and ownership
interests and attendance at Board meetings is included in this Annual Report. Director Profiles are available
on the Company’s website.
PACIFIC EDGE LIMITED ANNUAL REPORT 2023 6564 PACIFIC EDGE LIMITED ANNUAL REPORT 2023

PRINCIPLE 3: BOARD COMMITTEES
“The Board should use Committees where this will enhance its effectiveness in key areas, while still
retaining Board responsibility.”
The Board has delegated a number of its responsibilities to Committees to assist in the execution of the
Board’s responsibilities. These Committees review and analyse policies and strategies which are within their
terms of reference.
Committee members are appointed from members of the Board with membership reviewed on an annual
basis. Committees examine proposals and, where appropriate, make recommendations to the full Board.
Committees do not take action or make decisions on behalf of the Board unless specifically mandated by
prior Board authority to do so.
Management may only attend committee meetings at the invitation of the Committee.
The current Committees of the Board are the Audit & Risk Committee, People and Culture Committee,
Nominations Committee and Capital and M&A Committee.
The Committees have terms of reference (Charters), which are reviewed and approved by the Board. All
charters are reviewed at least every two years. These are available on the Company’s website.
Committee Membership as at 31 March 2023
Audit & Risk
Committee
People and Culture
Committee
Nomination
Committee
Capital and M&A
Committee
Sarah Park (Chair)
Mark Green
Chris Gallaher
To n y Barclay
Anna Stove (Chair)
Bryan Williams
Anatole Masfen
To n y Barclay
Chris Gallaher (Chair)
Bryan Williams
Anna Stove
Mark Green (Chair)
Anatole Masfen
Chris Gallaher
Sarah Park
Peter Meintjes
DIRECTOR MEETING ATTENDANCE
The Board meets as often as it deems appropriate including sessions to consider the strategic direction of
Pacific Edge and forward-looking business plans. Video and/or phone conferences are also used as required.
The table below sets out Director attendance at Board and Committee meetings during FY 23.
Board
Audit & Risk
Committee
Nomination
Committee
People and
Culture
Committee
Capital
and M&A
Committee
Tony Barclay
12/135/5-3/3
-
Chris Gallaher
13/135/5--
-
Mark Green
13/135/5--
-
Anatole Masfen
13/133*-1/3
-
Sarah Park
11/135/5--
-
Anna Stove
12/13
1*
-
3/3
-
Bryan Williams
12/13
2*
-
2/3
-
*Indicates optional attendance
The Officers of the Company (as defined by the NZX Listing Rules) are the CEO and specific direct reports
of the CEO having key functional responsibility. As at 31 March 2023, females represented 28% of Directors
and Officers of the Company (FY 22: 38%).
31 March 2023
Male
(FTE)
31 March 2023
Female
(FTE)
31 March 2022
Male
(FTE)
31 March 2022
Female
(FTE)
Directors
5
(71.4%)
2
(28.6%)
5
(71.4%)
2
(28.6%)
Officers*
8
(100%)
0
(0%)
7
(78%)
2
(22%)
Extended leadership team
including Officers
14.5
(78.4%)
4
(21.6%)
11
(68.8%)
5
(31.2%)
Total team
58.5
(50.7%)
56.8
(49.3%)
45.6
(52.7%)
41
(47.3%)
*Includes the CEO
PACIFIC EDGE LIMITED ANNUAL REPORT 2023
6766 PACIFIC EDGE LIMITED ANNUAL REPORT 2023