Slides
Page 1
Corporate Presentation November 2025
Page 2
© 2025 mdxhealth. All rights reserved. 2 Forward looking statement This presentation contains forward-looking statements and estimates with respect to the anticipated future performance of MDxHealth and the market in which it operates, all of which involve certain risks and uncertainties. These statements are often, but are not always, made through the use of words or phrases such as “potential,” “expect,” “will,” “goal,” “next,” “potential,” “aim,” “explore,” “forward,” “future,” and “believes” as well as similar expressions. Forward-looking statements contained in this release include, but are not limited to, statements regarding expected future operating results; our strategies, positioning, resources, capabilities and expectations for future events or performance; and the anticipated timing and benefits of our acquisitions, including estimated synergies and other financial impacts. Such statements and estimates are based on assumptions and assessments of known and unknown risks, uncertainties and other factors, which were deemed reasonable but may not prove to be correct. Actual events are difficult to predict, may depend upon factors that are beyond the company’s control, and may turn out to be materially different. Examples of forward-looking statements include, among others, statements we make regarding expected future operating results, product development efforts, our strategies, positioning, resources, capabilities and expectations for future events or performance. Important factors that could cause actual results, conditions and events 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 and services by healthcare providers; our ability to achieve and maintain adequate levels of coverage or reimbursement for our current and future solutions we commercialize or may seek to commercialize; the willingness of health insurance companies and other payers to cover our products and services and adequately reimburse us for such products and services; our ability to obtain and maintain regulatory approvals and comply with applicable regulations; timing, progress and results of our research and development programs; the period over which we estimate our existing cash will be sufficient to fund our future operating expenses and capital expenditure requirements; our ability to remain in compliance with financial covenants made to and make scheduled payments to our creditors; the possibility that the anticipated benefits from our business acquisitions like our acquisition of the ExoDx business and Oncotype DX GPS prostate cancer business will not be realized in full or at all or may take longer to realize than expected; and the amount and nature of competition for our products and services. Other important risks and uncertainties are described in the Risk Factors sections of our most recent Annual Report on Form 20-F and in our other reports filed with the Securities and Exchange Commission. MDxHealth expressly disclaims any obligation to update any such forward-looking statements to reflect any change in its expectations with regard thereto or any change in events, conditions or circumstances on which any such statement is based unless required by law or regulation. This does not constitute an offer or invitation for the sale or purchase of securities or assets of MDxHealth in any jurisdiction. No securities of MDxHealth may be offered or sold within the United States without registration under the U.S. Securities Act of 1933, as amended, or in compliance with an exemption therefrom, and in accordance with any applicable U.S. securities laws. [vers. October 1, 2025] NOTE: The mdxhealth logo, mdxhealth, Confirm mdx, Select mdx, Resolve mdx, Genomic Prostate Score, Exosome Diagnostics, ExosomeDx, ExoDx, ExoDx Prostate Intelliscore (EPI), and Monitor mdx are trademarks or registered trademarks of MDxHealth SA and its affiliates. The GPS test was formerly known as and is frequently referenced in guidelines, coverage policies, reimbursement decisions, manuscripts and other literature as Oncotype DX Prostate, Oncotype DX GPS, Oncotype DX Genomic Prostate Score, and Oncotype Dx Prostate Cancer Assay, among others. The Oncotype DX trademark, the Bio-Techne trademark, and all other trademarks and service marks, are the property of their respective owners. Analyst Coverage Any opinions, estimates or forecasts made by analysts are theirs alone and do not represent opinions, forecasts or predictions of mdxhealth or its management. Requests for copies of analyst reports should be directed at the respective analyst and institution.
Page 3
© 2025 mdxhealth. All rights reserved. 3 mdxhealth provides highly accurate and clinically actionable urologic solutions to inform patient diagnosis and treatment while improving healthcare economics for payers and providers Ticker: MDXH
Page 4
© 2025 mdxhealth. All rights reserved. mdxhealth fundamentals for growth 4 • Compelling and comprehensivemenu in prostate cancer • Robust clinical data • Establishedreimbursementand guidelinesinclusion Fundamentals in place • World-class CLIAcertified multi-state lab operations • Experiencedand expandedchannel into urology • UrinaryTract Infection opportunityvalidated Established focus & execution • Expansion of mdxhealthclinical pathwayfor prostate cancer (acquisitionof Genomic Prostate Score & ExoDx Prostate T est) • ExpandingUS commercialfootprint Levers for growth • Opportunistic decentralizationof menu as appropriate • Expanded channel outside of urology • Menu Expansion: Monitormdx and business development opportunities Potential opportunities
Page 5
© 2025 mdxhealth. All rights reserved. Experienced leadership team 5 Kim Leroux ExecutiveVice President RevenueCycle Mgmt. Joined Mdxhealth in 2025 Invitae CombiMatrix LabCorp Track record of success Michael K. McGarrity Chief ExecutiveOfficer Joined mdxhealth in 2019 Nanosphere (Luminex/DiaSornin) Stryker Scott McMahan Vice President of Finance / Interim Chief Financial Officer Joined mdxhealth in 2020 Pathnostics PLUS Diagnostics LabCorp Westcliff John Bellano Chief CommercialOfficer Joined mdxhealth in 2019 Assurex Health (Myriad Genetics) Third Wave Technologies (Hologic) Roche Diagnostics Molecular Diagnostics Joseph Sollee Executive Vice President Corp. Dev. GeneralCounsel Joined mdxhealth in 2008 Triangle Pharmaceuticals TherapyEdge
Page 6
© 2025 mdxhealth. All rights reserved. Our menu addresses a $4.9B U.S. market opportunity(1-5) 6 $1.5B $1.5B $450M $450M $1B $4.9B TOTAL COMPREHENSIVE UROLOGY MENU *In development & ExoDx Prostate Test
Page 7
© 2025 mdxhealth. All rights reserved. Commercial levers to drive growth 7 One of the most compelling, comprehensive and accurate menus in urology Standardized laboratory partner for urology group practice • One rep, One laboratory, One patient support program • ONE PARTNER in the diagnosis and treatment of prostate cancer Experienced distribution channel and broad KOL network • Expanded commercial team to >80 people Acquired Exact Sciences’ Genomic Prostate Score (GPS) test • Established brand with broad customer base • Covered by Medicare Validated advanced Urinary Tract Infection (UTI) opportunity • Launched in second half of 2021 Acquired Exosome Diagnostics’ Exodx Prostate test • Established brand with broad customer base • Reimbursed by Medicare UTI TEST LAUNCHED 2021 ACQUIRED AUGUST 2022 ExoDx Prostate Test ACQUIRED SEPTEMBER 2025
Page 8
© 2025 mdxhealth. All rights reserved. Current challenges with diagnosing prostate cancer 8 Prostate cancer screening elevated PSA results annually(1-2)~3 million of biopsies DO NOT reveal cancer and may lead to increased complications and hospitalization(3-6) Prostate cancer is the most common cancer and the 2nd deadliest cancer in U.S. men(1) Prostate cancer risk stratification prostate cancers diagnosed annually(8) of new prostate cancer diagnosis are localized; Active Surveillance or treatment decision(8) Prostate cancer diagnosis men undergo biopsies annually(2) of cancer-negative biopsies are false negatives, meaning these patients actually have cancer(7) ~500K ~300K 30% 69% 60%
Page 9
© 2025 mdxhealth. All rights reserved. Expanding menu in the prostate cancer diagnostic pathway 9 One of the most comprehensive menus in prostate cancer
Page 10
© 2025 mdxhealth. All rights reserved. improves patient selection prior to prostate biopsy 10 Non-invasive 60% of initial biopsies do not reveal cancer (5-8) 60% Accurate 95% negative predictive value (1) Validated 12 published studies on genes and technology Cost effective Potential to avoid invasive and unnecessary prostate biopsies and save the U.S. healthcare system >$500 million (2) each year National guidelines Included in EAU and NCCN guidelines (3-4) A highly predictive test to identify men at low risk for aggressive prostate cancer Binary actionable results for patient and HCP 95% NPV Abnormal PSA/DRE At risk for aggressive cancer? Negative Routinely Monitor Positive Biopsy Urine-based “rule-out” test improves the diagnostic disposition of patients by avoiding unnecessary prostate biopsies
Page 11
© 2025 mdxhealth. All rights reserved. a non-invasive (No DRE) test for the detection of clinically significant prostate cancer 11 Non-invasive Accurate(1) 91.3% for Gleason ≥7 (3+4 and higher) NPV of 97% for Gleason ≥ 7 (4+3) Validated Prospective level 1 clinical validation study National guidelines inclusion NCCN Included in the NCCN Early Detection of Cancer Guidelines ExoDx informs if prostate biopsy is necessary, independent of PSA and other standard of care information • NO DRE required • NO vigorous prostate massage • Done “in-office” or with “At-Home Collection Kit” AUA Included in the AUA Guidelines 15 mL ‘first catch’ Urine Sample Multivariate Algorithmic Analysis Patented Exosomal RNA Extraction Result qRT-PCR Analysis Risk for HGPCAExoDx Testing PCA3 SPDE F ERG 15.6 0.0 100 Prostate Exosomes Completely independent molecular information • Does not require standard of care (SOC) clinical risk factors
Page 12
© 2025 mdxhealth. All rights reserved. improves diagnostic confidence of biopsy result 12 Non-invasive 30% of men with a cancer-negative biopsy result actually have cancer (5) 30% Accurate 96% Negative Predictive Value for aggressive prostate cancer (1) Validated Over 55 published studies on genes and technology Cost effective Potential annual U.S. health system savings of $500K per 1M covered patients(2) National guidelines National guidelines: Included in EAU and NCCN guidelines (3-4) The only epigenetic test to identify men at risk for aggressive prostate cancer 96% NPV (1)False-negative biopsy Positive Biopsy/MRI Negative Avoid Biopsy/MRI “Rule-out” test performed on previous biopsy tissue
Page 13
© 2025 mdxhealth. All rights reserved. guides treatment decisions for localized prostate cancer 13 Non-invasiveThe test analyzes prostate cancer gene activity to predict disease aggressiveness and provide clinically meaningful endpoints(1-23) test performed on previous biopsy tissue Accurate Predicts adverse pathology, distant metastasis, prostate cancer mortality and pT3/Extra prostatic extension Validated Predicts adverse pathology in AS candidate cohorts in 7 studies >2,000 patients HOW THE TEST CAN HELP YOU Surveillance Surgery Radiation Active SurveillanceLow Risk Treatment IntensityHigh Risk WHEN TO TREAT HOW TO TREAT Provides additional information to help when deciding on whether to pursue active surveillance or more aggressive treatment options Provides information to help select treatment intensity Very low Low Favorable intermediate Unfavorable intermediate High
Page 14
© 2025 mdxhealth. All rights reserved. 14 Current Standard of Care Patients under active surveillance are currently monitored by invasive and costly prostate biopsies Monitor mdx Monitor mdx will be a non-invasive alternative that risk-stratifies patients for continued active surveillance vs. intervention, which may also improve patient compliance Est. market size (men annually) 1.5M High Risk Intervention Low Risk Continued Active Surveillance Prostate Cancer Pipeline Active surveillance monitoring (Localized prostate cancer)
Page 15
© 2025 mdxhealth. All rights reserved. Urinary Tract Infection (UTI) annual market opportunity 15 The addressable market for UTI testing in the urology segment is 2M tests(2) annually, or $1B(3) of volume presents to urology(3) 10M 20% suspected UTI cases present annually(2) • Current standard is based on dated culture methodologies • Complex molecular methods target both organism and susceptibility markers • Market conversion comps: Virology and infectious disease The current UTI testing market is underserved Long Term Care 10% Urology 20% Primary Care 70% U.S. Market for UTI(3) $1B UTIs are the most common outpatient infection(1)
Page 16
© 2025 mdxhealth. All rights reserved. Advance molecular urinary tract infection testing 16 Non-invasive Urine-based test that provides personalized antibiotics options for urinary tract infections. Accurate 19 pathogens, 6 classes of resistance genes and susceptibility to guide antibiotic selection Turnaround Time Results within 24 - 48 hours of recognized uropathogens that traditional urine culture may miss 33% 67% of urine cultures are polymicrobial, especially in elderly populations As many as Up to Resolve mdx • identifies and quantities uropathogenic bacteria and associated antibiotics susceptibility • improves antibiotic stewardship Guide antibiotic selectionPositive Rule out infectionNegative
Page 17
© 2025 mdxhealth. All rights reserved. Selected Financial Data 17 Three months ended (unaudited) In $’000 (except EPS) Sept 30, 2025 Sept 30, 2024 % Change Total revenue $27,433 $23,317 +18% Gross profit $17,875 $14,275 +25% Gross profit % 65.2% 61.2% +4.0pp Net loss ($8,010) ($11,189) (28%) Adjusted EBITDA1 $952 ($3,869) n/a EPS $(0.16) $(0.40) (60%) 1 A reconciliation of IFRS to non-IFRS financial measures has been provided in the tables included in the appendix. An explanation of these measures is also included under the heading "Non-IFRS Disclosures" Nine months ended (unaudited) Sept 30, 2024 Sept 30, 2023 % Change $78,330 $65,310 +20% $50,946 $39,624 +29% 65.0% 60.7% +4.3pp ($24,591) ($31,228) (21%) $981 ($13,120) n/a $(0.50) $(1.14) (56%) 2025 REVENUE GUIDANCE OF $108-110M Unaudited 3Q25 results and 2025 guidance representing year-over-year revenue growth of approximately 21% at the midpoint
Page 18
© 2025 mdxhealth. All rights reserved. mdxhealth is well-positioned for sustainable growth and value creation 18 Revenue growth • Multi-billion-dollar addressable market opportunity fortified by acquisition of GPS and ExoDx tests • 2025 guidance of $108-110 million Experienced and expanded channel into urology • Commercial team of > 80 • Additional channel opportunities as they present Gross margin leverage • Driving additional payer coverage for full menu • Accretion of GPS and ExoDx tests Leadership team and operating discipline • Focus and execution across all operating disciplines
Page 19
© 2025 mdxhealth. All rights reserved. Thank you INVESTOR RELATIONS LifeSci Advisors, LLC US +1.949.271.9223 ir@mdxhealth.com GLOBAL OPERATIONS US Headquarters & Laboratory 15279 Alton Parkway, Ste 100 Irvine, CA 92618 United States EU Headquarters CAP Business Center Rue d’Abhooz, 31 4040 Herstal, Belgium
Page 20
© 2025 mdxhealth. All rights reserved. References Slide 6 – Our menu addresses a $4.9B U.S. market opportunity 1. MDxHealth management estimates 2. Welch. et. Al., Prostate-Specific Antigen Levels in the United States: Implications of V arious Definitions for Abnormal. JNCI 2005. 3. NIH Cancer Trends Progress Report. July 2021. https://progressreport.cancer .gov/detection/prostate_cancer 4. NIH Surveillance, Epidemiology and end Results Program. July 2021. https:// seer .cancer.gov/statfacts/html/prost.html. 5. Paul et. al. State of the Globe: Rising Antimicrobial Resistance of Pathogens in Urinary Tract Infection. J Glob Infect Dis. 2018. Slide 8 – Current challenges with diagnosing prostate cancer in U.S. 1. NIH 6/10/2024 Website: https://seer.cancer.gov/statfacts/html/prost.html 2. Mdxhealth management estimates. 3. Moyer VA, U.S. Preventive Services Task Force. Screening for prostate cancer: U.S. Preventive Services Task Force recommendation statement. Ann Intern Med. 2012;157:120–134. 4. Bhindi B, Mamdani M, Kulkarni GS, et al. Impact of the U.S. Preventive Services Task Force recommendations against prostate specific antigen screening on prostate biopsy and cancer detection rates. J Urol. 2015;193:1519–1524. 5. Loeb et al. European Urology 2013. 6. Loeb et al. Journal of Urology 201 1. 7. Stewart et al. Journal of Urology 2013. 8. NIH Cancer Stat Facts: Prostate Cancer. https://seer.cancer.gov/statfacts/html/prost.html Slide 10 – SelectMDx improves patient selection prior to prostate biopsy 1. Haese, A, et al. (2019) Multicenter Optimization and Validation of a 2-Gene mRNA Urine Test for Detection of Clinically Significant Prostate Cancer Prior to Initial Prostate Biopsy. J Uro. doi: 10.1097/JU.0000000000000293. 2. Govers TM, et al. (2018) Cost-Effectiveness of Urinary Biomarker Panel in Prostate Cancer Risk Assessment. J Urol. doi: 10.1016/j.juro.2018.07.034A. 3. 2022 National Cancer Center Network Guidelines. Early Detection for Prostate Cancer . Version 1.2022 – July 16, 2022. 4. 2021 European Association of Urology Prostate Cancer Guidelines. 5. Moyer VA, U.S. Preventive Services Task Force. Screening for prostate cancer: U.S. Preventive Services Task Force recommendation statement. Ann Intern Med. 2012;157:120–134. 6. Bhindi B, Mamdani M, Kulkarni GS, et al. Impact of the U.S. Preventive Services Task Force recommendations against prostate specific antigen screening on prostate biopsy and cancer detection rates. J Urol. 2015;193:1519–1524. 7. Loeb et al. European Urology 2013. 8. Loeb et al. Journal of Urology 201 1. Slide 1 1- Exodx a non-invasive (No DRE) test for the detection of clinically significant prostate cancer 1. McKiernan et al., A Novel Urine Exosome Gene Expression Assay to Predict High- grade Prostate Cancer at initial Biopsy. Jama Oncology 2016;2;(7):882- 889. doi:10.1001/jamaoncol.2016.0097 Slide 12 – ConfirmMDx improves diagnostic confidence of biopsy result 1. Van Neste, et al. (2016) Risk Score Predicts High-Grade Prostate Cancer in DNA-Methylation Positive, Histopathologically Negative Biopsies. J Urology. 2. Aubry. Et al., Budget Impact Model: Epigenetic Assay Can Help Avoid Unnecessary Repeated Biopsies and Reduce Healthcare Spending. American Health &. Drug Benefits 2013. 3. 2022 National Cancer Center Network Guidelines. Early Detection for Prostate Cancer . Version 1.2022 – July 16, 2022. 4. 2021 European Association of Urology Prostate Cancer Guidelines. 5. Stewart et al., Clinical Utility of an Epigenetic Assay to Detect Occult Prostate Cancer in Histopathologically Negative Biop sies: Results of the MA TLOC Study. Journal of Urology Slide 13 –(f/k/a Oncotype DX) Genomic Prostate Score (GPS) to guide treatment decisions for localized prostate cancer 1. Brooks MA, et al. Validating the associate on of adverse pathology with distant metastasis and prostate cancer mortality 20-years after radical prostatectomy. Urol Oncol. 2022;40(3):104.e1-104.e7. 2. Mehralivand S, et al. A grading system for the assessment of risk of extraprostatic extension of prostate cancer at multiparametric MRI. Radiology. 2019;290(3):709-719. 3. Brooks MA et al. GPS assay association with long-term cancer outcomes: twenty-year risk of distant metastasis and prostate cancer-specific mortality. JCO Precis Oncol. 2021;5:PO.20.00325. 4. Cullen J, et al.,. The 17-gene genomic prostate score test as a predictor of outcomes in men with unfavorable intermediate risk prostate cancer. Urology. 2020;143:103-11 1. 5. Klein EA, et al. A 17-gene assay to predict prostate cancer aggressiveness in the context of Gleason grade heterogeneity, tumor multifocality, and biopsy under sampling. Eur Urol. 2014;66(3):550-560. 6. Cullen J, et al. A biopsy-based 17-gene genomic prostate score predicts recurrence after radical prostatectomy and adverse surgical pathology in a racially diverse population of men with clinically low- and intermediate-risk prostate cancer. Eur Urol. 2015;68(1):123-131. 7. Van Den Eeden SK, et al. A biopsy-based 17-gene genomic prostate score as a predictor of metastases and prostate cancer death in surgically treated men with clinically localized disease. Eur Urol. 2018;73(1):129-138. 8. Eggener S,, et al. A 17-gene panel for prediction of adverse prostate cancer pathologic features: prospective clinical validation and utility. Urology. 2019;126:76-82. 9. Lin DW , et al. 17-gene genomic prostate score test results in the Canary Prostate Active Surveillance Study (P ASS) cohort. J Clin Oncol. 2020;38(14):1549-1557. 10. Badani KK,, et al. The impact of a biopsy based 17-gene genomic prostate score on treatment recommendations in men with newly diagnosed clinically prostate cancer who are candidates for active surveillance. Urol Pract. 2015;2(4), 181- 189. 11. Dall’Era MA, et al.,. Utility of the Oncotype DX® prostate cancer assay in clinical practice for treatment selection in men newly diagnosed with prostate cancer: a retrospective chart review analysis. Urol Pract. 2015; 2(6), 343-348. 12. Albala D, et al. Health economic impact and prospective clinical utility of Oncotype DX® Genomic Prostate Score. Rev Urol. 2016;18(3):123-132. 13. Eure G, et al. Use of a 17-gene prognostic assay in contemporary urologic practice: results of an interim analysis in an observational cohort. Urology. 2017;107:67-75. 14. Lynch JA, et al. Improving risk stratification among veterans diagnosed with prostate cancer: impact of the 17-gene prostate score assay. Am J Manag Care. 2018;24(1 Suppl):S4-S10. 15. Leapman MS, et al. Association between a 17-gene genomic prostate score and multi- parametric prostate MRI in men with low and intermediate risk prostate cancer (PCa). PLoS One. 2017;12(10):e0185535. 16. Kornberg Z, et al. Genomic Prostate Score, PI-RADS version 2 and progression in men with prostate cancer on active surveillance. J Urol. 2019;201(2):300-307. 17. Salmasi A, et al. A 17-gene genomic prostate score assay provides independent information on adverse pathology in the setting of combined multiparametric magnetic resonance imaging fusion targeted and systematic prostate biopsy. J Urol. 2018;200(3):564-572. 18. Magi-Galluzzi C, et al. The 17-gene genomic prostate score assay predicts outcome after radical prostatectomy independent of PTEN status. Urology. 2018;121:132-138. 19. Cullen J, et al. Multicenter comparison of 17-gene genomic prostate score as a predictor of outcomes in African American and Caucasian American men with clinically localized prostate cancer . J Urol. 2021;205(4):1047-1054. 20. Murphy AB, et al. A 17-gene panel genomic prostate score has similar predictive accuracy for adverse pathology at radical prostatectomy in African American and European American men. Urology. 2020;142:166-173. 21. Moschovas M, et al. Association between Oncotype DX genomic prostate score and adverse tumor pathology after radical prostatectomy. Eur Urol Focus. 2021;S2405-4569(21)00094-8. 22. Aboushwareb, et al. Active surveillance or watchful waiting in clinically low-risk prostate cancer patients in the SEER database with and without an Oncotype Dx genomic prostate score assay. J Urol. 2021;206(3S):e1094 (MP62-06). 23. Brand TC, et al. Patient-specific meta-analysis of 2 clinical validation studies to predict pathologic outcomes in prostate cancer using the 17-gene genomic prostate score Urology. 2016;89:69-75. Slide 15 – U.S. Urinary Tract Infection (UTI) annual market opportunity 1. Medina M, Castillo-Pino E. An introduction to the epidemiology and burden of urinary tract infections. Ther Adv Urol. 2019;11:1756287219832172. Published 2019 May 2. doi:10.1177/1756287219832172. 2. Flores-Mireles AL, Walker JN, Caparon M, Hultgren SJ. Urinary tract infections: epidemiology, mechanisms of infection and treatment options. Nat Rev Microbiol. 2015;13(5):269-284. doi:10.1038/nrmicro3432. 3. Mdxhealth management estimates are informed by the Company’s knowledge of the industry. 20
Page 21
Appendix
Page 22
© 2025 mdxhealth. All rights reserved. Select mdx robust clinical evidence 22 12 published studies on genes and technology Analytical validity Clinical utility Clinical validity Health economics PIVOTAL CLINICAL STUDIES Analyticalvalidation Hessels et al., TranslationalMedicine Communications2017 Clinically validated for a 95% NPV Haese et al., Journal of Urology 2019 Significantly impactsprostate biopsy decision making Shore et al., Urology Practice2019 >$500Min savings to health care system Goverset al., Journal of Urology 2018
Page 23
© 2025 mdxhealth. All rights reserved. ExoDx robust clinical evidence 23 11 published studies on ExoDx Analytical validity Clinical utility Clinical validity Health economics PIVOTAL CLINICAL STUDIES Clinically validated for a 91% NPV McKiernanet al., JAMA Oncology, 2016 McKiernan et al., European Urology 2018 Exodx improves patient stratification for biopsy Tuturoneet al., Prostate Cancer and Prostatic Disease 2020 ExoDx Prostate Test Prospective Utility Study
Page 24
© 2025 mdxhealth. All rights reserved. Confirm mdx robust clinical evidence 24 Over 55 published studies on genes and technology PIVOTAL CLINICAL STUDIES Analytical validation Van Neste et al., BMC Urology2013 Validation of high NPV Partin et al., Journal of Urology 2014. Meta analysis validatinghigh NPV Partin et al., Trans. of the Am. Clin. and Clim. Assoc 2016 Risk score developmentNPV 96% CS PCa Van Neste et al. The Prostate 2016 Validatedin African American men Waterhouseet al., Urology 2016 Validation of clinical utility/actionability Wojno., et al 2014 Savingsto health care system Aubry et al., AmericanHealth Drug and Benefits2013 Analytical validity Clinical utility Clinical validity Health economics
Page 25
© 2025 mdxhealth. All rights reserved. GPS robust clinical evidence 25 Over 20 published clinical validation and utility studies Analytical validity Clinical utility Clinical validity Health economics PIVOTAL CLINICAL STUDIES Analytical validation Knezevic et al., 2013 Clinically validated as an independentpredictor of adversepathology Klein et al., 2014, Cullen et al., 2015, Eeden et al., 2017, Eggner et al., 2019 Clinical validated in African American men Cullen et al., 2015, Murphy et al., 2021 Validation of clinical utility Badani et al., 2015, D Validation of clinical utility/actionability Badani et al., 2015, Dall’Era et al., 2015, Eure et al., 2017, Lynch et al., 2017, Murphy et al., 2021, Moschovaset al., 2021 Cost savings by decreasingunnecessary immediate treatment Albala et al., 2016
Page 26
© 2025 mdxhealth. All rights reserved. Select mdx, ExoDx, Confirm mdx and GPS technology 26 The most comprehensive menu in prostate cancer Select mdx(1) ExoDx(2) Confirm mdx(3) GPS(4) Specimen Urine Urine Prostate tissue Localized PCa tissue Science mRNA RT-PCR assay RNA Exosomes DNA Methylation Specific PCR assay Multi gene expression RT-PCR Assay Biomarkers DLX1, HOXC6 PCA3, ERG, SPDEF GSTP1, APC RASSF1 AZGP1, FAM13C, KLK2, SRD5A2, FLNC GSN, GSTM2, TPM2, BGN, COL1A1, SFRP4, TPX2, ARF1, ATP5E, CLTC, GPS1, PGK1 Clinical Model Clinical model combines mRNA with established clinical risk factors N/A Clinical model combines DNA Methylation markers with established clinical risk factors Clinical algorithm aggregates expression of 5 reference genes to normalize the expression of the 12 cancer-related genes Performance 95% NPV for clinically significant prostate cancer 91% NPV for clinically significant prostate cancer 96% NPV for clinically significant prostate cancer Predicts adverse pathology, distant metastases, PCa mortality 1. Haese, A, et al. (2019) MulticenterOptimizationand Validation of a 2-Gene mRNA UrineTest for Detectionof ClinicallySignificant Prostate Cancer Priorto Initial Prostate Biopsy. J Uro. 2. McKiernan J., (2016) A Novel Urine Exosome Gene Expression Assay to Predict High-Grade Prostate Cancer at Initial Biopsy. Jama Oncology 3. Van Neste, et al. (2016) RiskScore PredictsHigh-Grade Prostate Cancerin DNA-MethylationPositive,HistopathologicallyNegative Biopsies. J Urology. 4. Knezevic et al., (2013) Analyticalvalidation of the Oncotype DX prostate cancer assay – a clinical RT-PCR assay optimized for prostate needle biopsies. BMCGenomics
Page 27
© 2025 mdxhealth. All rights reserved. Unaudited reconciliation of IFRS to non-IFRS financial measures 27 1) Primarily related to GPS contingent consideration and Exact Sciences 5-year warrants 2) Bank fees and other non-cash expenses Non-IFRS disclosure In addition to the Company's financial results determined in accordance with IFRS, the Company provides adjusted EBITDA, a non-IFRS measure that the Company determines to be useful in evaluating its operating performance. The Company defines adjusted EBITDA as net loss less interest expense, depreciation and amortization of intangible assets, impairment, share-based compensation, fair-value adjustments, debt extinguishment costs, provision for inventory obsolescence, reduction in force severance costs, ExoDx acquisition expenses, amendments related to the Exact Sciences earnout, income tax benefit (expense), and other financial and non-cash expenses. Management believes that presentation of non-IFRS financial measures provides useful supplemental information to investors and facilitates the analysis of the Company's core operating results and comparison of operating results across reporting periods. The Company uses this non-IFRS financial information to establish budgets, manage the Company’s business, and set incentive and compensation arrangements. However, non-IFRS financial information is presented for supplemental information purposes only, has limitations as an analytical tool and should not be considered in isolation or as a substitute for financial information presented in accordance with IFRS. For example, non-IFRS adjusted EBITDA excludes a number of expense items that are included in net loss. As a result, positive adjusted EBITDA may be achieved while a significant net loss persists. The Company’s presentation of expected non-IFRS adjusted EBITDA is a forward-looking statement about the Company’s future financial performance. This non-IFRS measure includes adjustments like share-based compensation, debt extinguishment costs, fair-value adjustments related to contingent considerations that are difficult to predict for future periods because the nature of the adjustments pertain to events that have not yet occurred. Additionally, management does not forecast many of the excluded items for internal use. Information reconciling forward-looking non-IFRS measures to IFRS measures is therefore not available without unreasonable effort and is not provided. The occurrence, timing, and amount of any of the items excluded from IFRS to calculate non-IFRS could significantly impact the Company’s IFRS results. Three Months Ended September 30, Nine Months Ended September 30, Thousands of $ 2025 2024 2025 2024 IFRS net loss (8,010) (11,189) (24,591) (31,228) Amortization of intangible assets 1,297 1,327 3,939 3,575 Depreciation expense 957 821 2,828 2,271 Impairment 367 - 367 - Share-based compensation expense 447 365 1,518 1,059 Interest expense, net 2,816 2,033 7,330 4,962 Income tax (benefit) expense (6) 334 (285) 334 Debt extinguishment cost - - - 3,130 Provision for inventory obsolescence 266 - 794 - Reduction in force severance costs (16) - 335 174 ExoDx acquisition expenses 1,566 - 1,566 - Fair value adjustments (1) 2,100 2,661 7,735 2,478 Other adjustments (2) (832) (221) (555) 125 Adjusted EBITDA 952 (3,869) 981 (13,120)