transforming transfusion diagnostics, and beyond

TRANSFORMINGTRANSFUSIONDIAGNOSTICS,AND BEYOND.Franz Walt, CEO

Jeremy Stackawitz, President

Ed Farrell, President

Chris Lindop, CFO

March 4th, 2019

Safe Harbor Statement

March 2019The MosaiQ™ system is not yet commercially available or approved by any government agency. 2

This presentation contains forward-looking statements within the meaning of Section

27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act

of 1934 and the Private Securities Litigation Reform Act of 1995. These forward-

looking statements include statements regarding our expectations of continued growth,

the development, regulatory approval, commercialization, and impact of MosaiQ and

other new products (including our current expectations regarding the timing of MosaiQ

project milestones) and forecasts of the demand for MosaiQ Microarrays and our

expected sources of funding. Such statements are based on current assumptions that

involve risks and uncertainties that could cause actual outcomes and results to

differ materially.

These risks and uncertainties, many of which are beyond our control, include delays

or denials of regulatory approvals or clearances for products or applications;

market acceptance of our products; the impact of competition; the impact of facility

expansions and expanded product development, clinical, sales and marketing

activities on operating expenses; delays or other unforeseen problems with respect

to manufacturing, product development or field trial studies; adverse results in

connection with any ongoing or future legal proceeding; continued or worsening

adverse conditions in the general domestic and global economic markets; as well as

the other risks set forth in the company's filings with the Securities and Exchange

Commission (“SEC”). Investors are cautioned not to place undue reliance on these

forward-looking statements, which speak only as of the date hereof. Quotient

disclaims any obligation to update these forward-looking statements.

The Quotient logo and MosaiQ are registered trademarks or trademarks of Quotient

Limited and its subsidiaries in various jurisdictions. Any images, schematics or other

graphic or pictorial representations contained herein, including those representing

the MosaiQ™ Instrument or Microarrays, are for illustrative purposes only. Those

representations may change and may not accurately represent final Quotient products

or services.

This presentation contains statistics and other data that in some cases have been

obtained or compiled from information made available by third parties. Quotient makes

no representation or warranty, expressed or implied, with respect to the accuracy,

reasonableness or completeness of such information.

A shelf registration statement relating to the ordinary shares was filed with the SEC

and is effective. We will also file a prospectus supplement with the Sec for the

offering to which this communication relates. Before you invest, you should read the

prospectus in that registration statement, the prospectus supplement, and other

documents the issuer has filed with the SEC for more complete information about the

issuer and this offering. You may get these documents for free by visiting EDGAR

on the SEC website at www.sec.gov. Alternatively, the issuer, the underwriters, or

any dealer participating in the offering will arrange to send you the prospectus if you

request it by contacting Jefferies LLC, Attention: Equity Syndicate Prospectus

Department, 520 Madison Avenue, 2nd Floor, New York, NY 10022, by telephone at

(877) 547-6340 or by email at [email protected]; or Cowen

and Company, LLC, by mail at Cowen and Company, LLC, c/o Broadridge Financial

Services, 1155 Long Island Avenue, Edgewood, NY 11717, Attention: Prospectus

Department, or by telephone at (631) 274-2806.

STRATEGY

COMMERCIAL

TECHNOLOGY

FINANCE

Q&A


AGENDA


STRATEGY

Quotient

Eysins, Switzerland

Global headquarters & center of competence for MosaiQ microarray manufacturing

Edinburgh, United Kingdom

Center of competence for Alba reagent business and

product development for both reagent and MosaiQ microarray development

Newtown, Pennsylvania, USA

US Commercial base

History

1990: Scottish National Blood Services creates National Reagents Unit

1998: Diagnostics Scotland (later renamed Alba Bioscience)

created from merger of NRU and Scottish Antibody Production Unit

2007: Quotient founded and acquired Alba Bioscience

2014: Quotient Suisse SA formed & Quotient IPO on Nasdaq

2018: 72 reagents products CE marked and 63 FDA licensed/cleared

MosaiQ factory ISO certified and instrument CE marked

Over 30 years’ heritage in transfusion Dx


Milestones

Jun 2018 ✓

– Successful clinical trials (Initial IH)

– Senior notes issuance completed

Sep 2018 ✓

– EU submission of Initial IH

– MosaiQ instrument CE marked

Oct 2018 ✓

– Allan Robb Campus certified ISO 13485 under MDSAP (EU)

– Full FDA licensure (US)

Dec 2018 ✓

– Senior Notes restructured

– Raised $65m of new equity capital

– Eysins facility ISO 13485 certified

– V&V for initial SDS Microarray completed

Jan 2019 ✓

– Consolidation on Allan Robb Campus completed

– Publication of successful Expanded IH data

– Initial SDS field trial commenced


Consistently delivering on our commitments

Transfusion Dx marketAttractive $3.4 billion* market growing low single digit

The MosaiQ™ system is not yet commercially available or approved by any government agency.

*Source: Estimate based on BCC Research, The Global Blood Industry, March 2015

Donor Testing 2/3

– Concentrated customer base

– High test volume per customer

Patient Testing 1/3

– Fragmented customer base

– Low test volume per customer

SDS: $875m

MDS: $1,100m

IH: $325m

IH: $1,100m

March 2019 7

Transfusion Dx playersFragmented market with many highly specialized players


IH MDS

Source: Independent global consulting analysis commissioned

by Quotient and Quotient’s own internal analysis

SDS

Transfusion Dx playersMosaiQ has the potential to cover all with one technology


MDS

SDS

Source: Independent global consulting analysis commissioned

by Quotient and Quotient’s own internal analysis

IH

MosaiQ value proposition1) One technology covering all testing needs


Serological

Disease

Screening

Antibody

Screen/ID

Molecular Disease

Screening

Manual

Testing

Blood

grouping

MosaiQ value proposition1) One technology covering all testing needs


Manual Testing

MDSExpanded SDS

SDS (CMV & Syphilis)

Blood grouping

MDSSDS

Expanded IH & initial SDS

Blood grouping only

MosaiQ value proposition2) Automation helps to address shortage of qualified staff

Sources: Number of tests based on Genetic Testing Registry Data in National Center for Biotechnology Information [NCBI], https://www.ncbi.nlm.nih.gov/gtr/

Workforce calculation based on total number of Medical and Clinical Laboratory Technologists and Technicians jobs (Bureau of Labor Statistics [BLS], 2018)

Source: Mounting shortage of medical lab techs hurts most in rural Alberta, expert says 4 April 2017

.


300000

315000

330000

345000

360000

375000

10000

20000

30000

40000

50000

60000

2013 2014 2015 2016 2017

Nu

mb

er

of

tes

ts

Wo

rkfo

rce

[…] Canada’s aging population

is creating an increased demand

for lab tests, including blood

and DNA tests.

[…]. But with too few graduates

to fill the positions opening as older

workers retire in the coming years, the

problem is going to get worse,

[…] According to CSMLS, almost

50 per cent of its members

will retire over the next 10 years.

MosaiQ value proposition3) Better workflow leads to better cost position addressing budget constraints


Total costs of ownership

Current practice

Direct testing costs

Non-direct testing costs

MosaiQ


Better cost position


MosaiQ value proposition4) Comprehensively characterized blood is a better and safer product


Standard characterised

bag of blood

Comprehensively characterized

bag of blood

*Throughput and footprint based on publicly available data and targeted MosaiQ performance


MosaiQ 125

PK 7300

Erytra

Vision MAX

IH 1000

Neo Iris

2,875

2,400

800

690

720

N/A

1,863

1,491

1,039

527

488

N/A

MosaiQ value proposition5) Highest throughput and productivity per m²

Company & Instrument Throughput (Tests/h) Productivity ((Tests/h)/m2)

Expanded IH




Company & Instrument

MosaiQ 125

PRISMnEXT

PK 7300

Cobas e801

Vitros 3600

Architect i400SR

Throughput (Tests/h) Productivity ((Tests/h)/m2)

1,125

960

600

300

189

400

729

490

370

178

100

98

Expanded SDS




Company & Instrument

MosaiQ 125

PRISMnEXT

PK 7300

Throughput (Tests/h) Productivity ((Tests/h)/m2)

2,000

800

960

1,296

490

490

Expanded IH + Expanded SDS

Erytra

PRISMnEXT

Neo Iris

Portfolio roadmapBroad pipeline for transfusion Dx and beyond


Transforming transfusion diagnostics and beyond Potential in immunomicroarray and MDx

Source: Independent global consulting analysis commissioned by Quotient

The MosaiQ™ system is not yet commercially available or approved by any government agency.

Value propositionMosaiQ

Simplified workflow

Ability to combine test

modalities

High-throughput capabilities

Lower sample volume

requirements

Versatile chip printing and test mixing

Suited to immunomicro-array and MDx

Potential for reduced

costs

Highly automated and user friendly

Up to 132 probes per cartridge

(incl. controls)

Ability tohandle

differentliquid sample

types

MosaiQ offers a simple

and automated workflow

for high-throughput

immunomicroarray and

MDx tests

One sample, many tests

Consolidate multiple

testing platforms with

a single technology

Simplified workflow /

cost savings

Application

Current focus on blood transfusion:

estimated $3.4bn market (in 2015)

MosaiQ has the potential to be used

more broadly within immunomicroarray

(IA) and molecular diagnostics (MDx)

IA and MDx:

– c.32% (IA) and c.10% (MDx) of IVD market

– among the fastest growing segments

– forecasted to reach c.$40bn by 2023

An independent consulting firm was engaged to identify opportunities in IVD beyond the transfusion space

March 2019 19

Numerous opportunities evaluatedSeven Dx areas identified with significant commercial potential and fit


Shortlist of opportunitiesPreliminary screenPotential opportunities

16 TAs relevant to

immunoassay and MDx

Within each TA, identified major

patient situations requiring

frequent laboratory testing to

identify testing opportunities

leveraging MosaiQ’s core

modalities (IA and MDx)

Triaged long list of opportunities

to exclude those less amenable

to the MosaiQ platform if:

consisting of single tests

involving very low volumes

with low technical or

commercial feasibility*

currently pursued by

MosaiQ or in partnerships

Identification of opportunities

Relevant therapeutic areas

Shortlisted opportunities based on:

Commercial potential:

market size of relevant segment

level of addressable need

Suitability to MosaiQ:

suitability of testing modalities

breadth of test menu

extent of panel opportunities

56 potential opportunities

40 opportunities relevant

to MosaiQ platform Shortlist of 7 opportunities

across 5 TAs

Source: Independent global consulting analysis commissioned by Quotient

Deep dive into seven opportunitiesAbility to win: commercial attractiveness and technological fit


Therapeuticarea Opportunities

AllergyPresentation-specific allergy testing

and component testing panels

Infectious disease High-throughput diagnostic and monitoring panels

Reproduction and women’s health Pregnancy monitoring panels

Autoimmune disease

Disease-specific diagnosticpanels

Disease-specific monitoringpanels

Transplant medicine

Pre-transplant testing

Post-transplant recipient monitoring panel

Refined opportunities selected for in-depth analysis In-depth assessment of opportunities

Co

mm

erc

ial

att

racti

ven

ess

Co

mp

eti

tio

nA

bil

ity t

o w

in

Commercial size

Commercial feasibility

Key players

MosaiQ’s value

proposition and suitability

Requirements

for success

COMMERCIAL


Ready for innovation and change

Experts’ points of view

March 2019The MosaiQ™ system is not yet commercially available or approved by any government agency.

Mr B Block

BCA

23

Increasing complexity

Multiple instruments

Inefficient workflow

Lack of innovation

Prof M Schmidt

German Red Cross

Dr P Williamson

CTS

Dr E Castro

Valencia, Spain

MosaiQ is designed to meet customers’ needs


300000

315000

330000

345000

360000

375000

10000

20000

30000

40000

50000

60000

2013 2014 2015 2016 2017

Nu

mb

er

of

tests

Wo

rkfo

rce

Innovation, consolidating testing, improving workflow, reducing complexity

MosaiQ


Better cost position


MosaiQ impacts multiple areas in the donor center


Delivering lower total cost per donation from vein to vein

CollectionSamples

ReceptionSorting Testing

Product

ReleaseInventory

Preparing the market for adoption


Contacts 250

Accounts 125

Opportunities 75+

Countries represented 20

Hypercare sites

planned for 20198

Tenders in which we

plan to participate

in the next 12 months

15+

Customers engaged and identified

Hypercare launch plan


6 countries & 8 donor testing facilities

Site +1 +2 +3 +4 +5 +6 +7 +8 +9 +10 +11 +12 +13 +14

Customer 1 ITT

Customer 2 ITT

Customer 3 ITT

Customer 4 ITT

Customer 5 ITT

Customer 6 ITT

Customer 7

Customer 8

Instrument Installation Testing by Customer Influenced ITT

Month following commercial product availability

Preparing the market for adoption


We are engaged with the market and ready to launch

World-class advisory board ✓

Clinical trial experience and plans ✓

Commercial organization ready ✓

High customer awareness ✓

Hypercare launch planned ✓


TECHNOLOGY

Development history


Manufacturing site and instrument completed, now focusing on content development

Manufacturing

Instrument Microarray

Immunohematology (IH)Comprehensive menu on track


Expanded Antigen Microarray Performance

Concordance data were achieved in sample sizes

of between 120 to 280:

Blood Group

Antigen

A B D C c E e K K Cw

Concordance 100% 100% 100% 100% 100% 99.6 100% 100% 100% 100%

Blood Group

Antigen

Kpa Fya Fyb Jka Jkb M N S Leb

Concordance 100% 99.5% 100% 100% 100% 100% 99.1% 99.4% 100%

Serological Disease Screening (SDS)Field trial ongoing

In this V&V study, a total of 1261 samples were tested.


Initial internal SDS Performance

Pathogen Sensitivity % Specificity %

CMV 98.5% 98.8%

Syphilis 100.0% 99.9%

Molecular Disease Screening

The MosaiQ™ system is not yet commercially available or approved by any government agency. 33

Unique proprietary approach to molecular testing

NeutrAvidin-Gold

Amplification (PCR)

Overhang sequence DNA sequence (antisense)

Biotin

5’3

’

3’ 5’

Enriched target

Universal Array

Plasma sample

Cell lysis

Detection

Target amplicon

March 2019

Probe A Probe B Probe C



The complementary oligo system works

March 2019

tA-WNV

tB-WNV

tC-WNV

tD-WNV



Successful multiplex detection of six targets

March 2019

Single digit copy per 500µL

NegativePositive

FINANCE


$400 million of capital invested in the last 7 years

Source of funds ($m) Use of funds ($m)

More than $107 million in available cash at end of third quarter

Equity, $385

Dept, $120

Capital & Equipment, $104

R&D MosaiQ Instrument, $21

R&D MosaiQ Microarray, $177

R&D Reagents, $12

Corporate Costs, $39

Debt Service, $37

Increase in cash resources, $115


Indicative reagent spend


Illustrative average reagent spend for expanded IH and SDS menu on a microarray equivalent basis

Current Reagent Spend per Donation North America EU

Immunohematological Testing $ 8.00 $ 6.00

Serological Disease Screening $ 12.00 $ 8.00

Molecular Disease Screening $ 15.00 $13.00

$ 8.00

Microarray dollar unit cost at 50% yield*


Fixed cost leverage and automation drives gross margins

10MM** 60MM

Depreciation Overhead Labor Material

*Note: Illustrative. Based on internal estimates and subject to significant uncertainties.

**MM = Microarray volumes

Profitability and cost at various microarray sales levels*


Operating leverage drives profitability

10MM 60MM

COGS Operating Expenses EBIT

Revenue, costs

and EBIT in $

10MM** 60MM

*Note: Illustrative. Based on internal estimates and subject to significant uncertainties.

**MM = Microarray volumes

Takeaways


– Consistent strategy underpinned by

strong financial position

– Menu expansion progressing well

– Ready to launch

Q&A



QUOTIENT MANAGEMENTSpeaker bios

Franz Walt


Chief Executive Officer, Quotient

Franz Walt joined Quotient (NASDAQ:QTNT) as the company’s Chief

Executive Officer in March 2018. Quotient Limited is a commercial-

stage diagnostic company with an initial focus on blood grouping,

serological as well as molecular disease screening, based on its

proprietary MosaiQ™ technology platform.

Franz Walt brings 30 years of global experience in leadership roles at

two of the largest, most influential healthcare companies, Siemens

Healthineers and Roche, and as an expert advisor on the in-vitro

diagnostics industry to manufacturing companies and private equity

firms. His career has focused on business turnaround, above-market

growth, profitability improvement, innovation, strategic alliances,

quality, new product introduction and commercialization.

In December 2017, Mr Walt retired as President of Laboratory

Diagnostics for Siemens Healthineers. During his 23 years at Roche,

he held positions of increasing responsibility in pharma and

diagnostics, which includes CEO, Managing Director and President

roles, in various geographic regions for Roche Diagnostics, also

serving eight years as a member of the Roche Diagnostics Executive

Committee.

Mr Walt served as a board member of the AdvaMed DX industry

association, where he actively contributed to shape healthcare policy

in diagnostic testing to improve patient health. Mr Walt holds an MBA

from the City University of Bellevue (Washington).

Contact

[email protected]

D: +41 22 545 82 20

Quotient Suisse SA

Business Park Terre Bonne

Route de Crassier 13

1262 Eysins

Switzerland

mailto:[email protected]

Jeremy Stackawitz


President Commercial and Reagent, Quotient

Jeremy Stackawitz joined Quotient (NASDAQ:QTNT) 10 years ago,

overseeing the company through a period of sustained rapid growth.

He led Quotient’s entry into the US market, where the company

now serves over 1,000 customers and has successfully obtained over

60 FDA product approvals. He currently serves as President of

Commercial and the Reagent Business.

He brings over 20 years of experience in healthcare, including

diagnostics, pharmaceuticals and biotechnology. His past experiences

include serving in various business development, general

management and commercial roles for Johnson & Johnson, which

included Commercial Director of Immunohematology

for Ortho Clinical Diagnostics.

Previously he worked at Purdue Pharma running various Market

Research and Commercial groups, and served as a Strategy

Consultant to the healthcare industry with Monitor and McKinsey & Co

consultancies.

Mr Stackawitz holds a BA in Chemistry from Dartmouth College

and an MBA in Healthcare Management from The Wharton School,

University of Pennsylvania.

Contact

[email protected]

D: +1 215 497 8820

C: +1 215 432 9629

Quotient Suisse SA



1262 Eysins

Switzerland


Ed Farrell


President R&D and Manufacturing, Quotient

Edward Farrell joined Quotient (NASDAQ:QTNT) in February 2013

and serves as President of R&D and Manufacturing, overseeing

the product development and manufacturing of MosaiQ™ in

Switzerland and Scotland.

Mr Farrell has over 20 years of engineering, manufacturing and

R&D experience in medical diagnostics in various roles including

several senior positions.

While with Siemens Healthcare Diagnostics, Mr Farrell served

as Managing Director and Vice President with responsibility for R&D

and manufacturing, for a point-of-care diagnostic instruments and

consumables facility, and subsequently, for a high-volume

immunoassay reagent plant in the United Kingdom. Prior experiences

at Siemens include, working in the United States as Director for a

Distribution, Service and Repair site, and as a Senior Manufacturing

Manager in a large diagnostic instrument manufacturing plant in

Ireland. Previously Mr Farrell worked at Ingersoll Rand as a

Production Manager, as Intel Manufacturing Engineer and Supervisor.

Mr Farrell received a BE (Mechanical) and a Masters in Engineering

Science from University College Dublin.

Contact

[email protected]

D: +41 22 545 82 21

C: +44 7900 805487

Quotient Suisse SA



1262 Eysins

Switzerland


Chris Lindop


Chief Financial Officer, Quotient

Chris Lindop joined Quotient (NASDAQ:QTNT) as the company’s

Chief Financial Officer in February 2017.

Mr Lindop has more than 15 years of experience in senior finance

leadership roles with public healthcare companies. He previously

worked as Chief Financial Officer of Haemonetics Corporation

(NYSE:HAE), a global leader in blood processing technology and as

Chief Financial Officer of Inverness Medical Innovations, Inc., a global

developer, manufacturer and marketer of medical diagnostic products.

In addition, Mr Lindop was a non-executive director of Parexel

International Corporation (NASDAQ: PRXL) from 2006, where

he was chairman of the audit and finance committee and a member

of the nominating and governance committee until its sale.

Previously, he served as an audit partner with the Boston office

of Ernst & Young LLP and with the Boston office of Arthur Andersen

LLP. He holds a BA in Business from the University of Strathclyde

(Scotland).

Contact

[email protected]

D: +41 22 545 52 26

C: +41 79 961 69 38

Quotient Suisse SA



1262 Eysins

Switzerland


transforming transfusion diagnostics, and beyond

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