Diagnostics for the early detection and prevention of colon cancer. Fourth-Quarter 2014 Earnings Call February 24, 2015

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1 Diagnostics for the early detection and prevention of colon cancer Fourth-Quarter 2014 Earnings Call February 24, 2015

2 Safe Harbor Statement Certain statements made in this presentation contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities and Exchange Act of 1934, as amended that are intended to be covered by the "safe harbor" created by those sections. Forward-looking statements can generally be identified by the use of forward-looking terms such as "believe," "expect," "may," "will," "should," "could," "seek," "intend," "plan," "estimate," "anticipate" or other comparable terms. All statements other than statements of historical facts included in this presentation regarding our strategies, prospects, financial condition, operations, costs, plans and objectives are forward-looking statements. Examples of forward-looking statements include, among others, statements we make regarding expected future operating results, anticipated results of our sales and marketing efforts, expectations concerning payor reimbursement and the anticipated results of our product development efforts. Forward-looking statements are neither historical facts nor assurances of future performance. Instead, they are based only on our current beliefs, expectations and assumptions regarding the future of our business, future plans and strategies, projections, anticipated events and trends, the economy and other future conditions. Because forward-looking statements relate to the future, they are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict and many of which are outside of our control. Our actual results and financial condition may differ materially from those indicated in the forward-looking statements. Therefore, you should not rely on any of these forward-looking statements. Important factors that could cause our actual results and financial condition to differ materially from those indicated in the forward-looking statements include, among others, the following: our ability to successfully and profitably market our products; the acceptance of our products by patients and health care providers; the amount and nature of competition from other cancer screening products and procedures; our ability to maintain regulatory approvals and comply with applicable regulations; our success establishing and maintaining collaborative and licensing arrangements; our ability to successfully develop new products; and the other risks and uncertainties described in the Risk Factors and in Management's Discussion and Analysis of Financial Condition and Results of Operations sections of our most recently filed Annual Report on Form 10-K and our subsequently filed Quarterly Reports on Form 10-Q. We undertake no obligation to publicly update any forward-looking statement, whether written or oral, that may be made from time to time, whether as a result of new information, future developments or otherwise. 1

3 Exact Sciences Strategy Patients Physicians Clinical Laboratory Advanced Cancer Diagnostics Pipeline Mayo Clinic Collaboration 2

4 Exact Sciences 2014 Key Milestones Medicare coverage, coding, payment Cologuard launch Potential FDA approval Preliminary Medicare coverage Medicare coverage application FDA Advisory Panel Peerreviewed journal 3

5 Exact Sciences Delivered in 2014 $493 Cologuard 4

6 Our Goals for 2015 Grow Cologuard World- Class Service Develop Pipeline 5

7 Key Fourth-Quarter 2014 Cologuard Metrics 1 4,000+ ordering physicians 2 4,000+ test results reported 3 75% patient compliance rate (The number of valid test results reported divided by the number of collection kits shipped to patients 60 or more days prior to Dec. 31, 2014) 4 $1.5 million in revenue 6

8 Reach of Current Sales Force 6% ~280,000 Primary Care Providers 6% of PCPs have been visited at least once by a sales rep (~16,000) Not visited Visited 7

9 Expanding the Sales Force ~200 reps ~140 reps ~80 reps Oct 2014 Mar 2015 By end of

10 Cologuard s Positive Effect on Compliance Colonoscopy 51% Never Screened or DRE Only 39% 49% never had a colonoscopy 10% FIT/FOBT Only 9 Source: Internal patient survey Data as of December 31, 2014

11 Driving Patient Compliance 4,000+ completed tests 10 Data as of December 31, 2014

12 Active Engagement Doubles Participation Fourth-Quarter % 75% 28% Two+ calls One call Compliance doubled 31% Completed with no compliance call Completed after 1 compliance call Completed after 2 + compliance calls Overall Compliance Rate 11

13 Reimbursement Efforts Focused on Commercial Insurance Medicare 43% Insurance Coverage (U.S., 50+) Commercial Insurance 40% Areas of Focus States with coverage mandates: IL, GA, MO, MD, KY, ME, RI, AK Health plans affiliated with health systems Uninsured 10% Military 2% Medicaid 4% 12 Sources: US Census Bureau, 2012 estimate; AIS Directory of Healthplans: 2014; Kaiser Family Foundation 2014; Company Analysis

14 First-Quarter Cologuard Launch Progress ~10,000 ~12,000 physicians enrolled 52% ordering 42% 8/10 8/17 8/24 8/31 9/7 9/14 9/21 9/28 10/5 10/12 10/19 10/26 11/2 11/9 11/16 11/23 11/30 12/7 12/14 12/21 12/28 1/4 1/11 1/18 1/25 2/1 2/8 2/15 13

15 First-Quarter Cologuard Launch Progress Total ordering physicians >6,300 First-quarter valid test results >5,200 4,000 completed in Q4 14 Data as of 2/20/15

16 Factors for Cologuard Success 2015 and Beyond 1 Expanding reach and frequency with providers 2 Expanding medical education programs Peer-to-peer physician outreach 3 Private payor coverage and reimbursement 4 USPSTF guideline inclusion HEDIS quality measures ACA insurance coverage mandate 15

17 Financial Results 2014 Fourth Quarter 2014 Full Year 2014 Revenues $1.5 million $1.8 million Operating expense $30.7 million $98.0 million Cash utilization $33.9 million $94.1 million Year-end cash balance $282.8 million 16

18 Summary Significant milestones accomplished in 2014 Uniquely positioned to execute on a differentiated long-term strategy Pleased with physician and patient Cologuard launch trajectory Expanding sales force to drive increased physician enrollment, adoption and ordering Compliance engine doubles patient completion, many of whom not screened before 18

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