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Renalytix plc · Investor Meet Company presentation · 29 September 2026 Today's review 1 A strategic pivot to partnered national distribution The Quest Diagnostics collaboration and implications of broad-scale distribution 2 Balance sheet renewal with new equity, debt to zero The September fundraise and the conversion of our convertible debt 3 Future catalysts Expanding strategies for Cardiovascular Renal Metabolic precision testing Renalytix plc (LSE: RENX) (OTCQB: RNLXY)
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Renalytix in brief Founded in 2018 Founded on research from the Joslin Diabetes Center and the Mt. Sinai School of Medicine (MSSM) Business To develop advanced risk assessment (prognosis) testing in cardiovascular, kidney, metabolic (CKM) disease Lead product kidneyintelX.dkd: an AI-enabled algorithmic test for kidney disease Mission: to control cost & reduce suffering from large population chronic disease Sources: Renalytix announcements, 6 November 2018 (AIM admission), 10 January 2024 (FDA De Novo, June 2023), 14 March 2024 (KDIGO), 14 June 2024 (Medicare), 22 April 2026 (laboratory), 30 June 2026 (two-year outcomes), 1 September 2026 (Quest). © 2026 Renalytix kidneyintelX.dkd 2
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One blood tube enables powerful, accurate, early understanding of risk in 15M US patients with diabetic kidney disease Maintain: the current treatment plan Manage: close follow-up, review of therapy Intensify: add therapy now, specialist referral Sample reports. Each level reflects the risk of progressive decline in kidney function within 5 years. © 2026 Renalytix kidneyintelX.dkd 3
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The first and only fully commercial prognostic test with FDA Authorization and Medicare insurance payment FDA FDA authorized Medicare Medicare insurance covered at $950 Guidelines Recommended clinical practice international guidelines (KDIGO) Indicated for adults 21 and older with type 2 diabetes and chronic kidney disease stages 1 to 3b. Sources: Renalytix announcements, 14 March 2024 (KDIGO 2024: recommended as an externally validated tool), 14 June 2024 (Medicare coverage and price), 1 September 2026 (FDA authorization). © 2026 Renalytix kidneyintelX.dkd 4
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A kidneyintelX.dkd test score can have critical consequences 18x A high kidneyintelX.dkd score means you are 18x more likely to have significant kidney function decline 67% of patients with a high-risk result will experience significant, kidney function decline 5 of patients with a low-risk result progressed to kidney failure within five years Source: Nadkarni GN, Stapleton S, Takale D, Edwards K, et al. Diabetes, Obesity and Metabolism. Published 18 September 2023. doi:10.1111/dom.15273. Kaplan-Meier estimates, adjusted for clinical and demographic features. © 2026 Renalytix kidneyintelX.dkd 5 0%
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The cost of not understanding this risk and delaying action is staggering for all of us 131,564 US patients starting dialysis in 2025 at ~$100,000 annual cost This approximates >$13B in annual costs for this single cohort $141B Annual Medicare spending on chronic kidney disease patients 25% Annual Medicare budget spent on chronic kidney disease patients £6.4B Direct NHS cost of kidney disease annually, est. £10.9B by 2033 Sources: United States Renal Data System, 2023 and 2024 Annual Data Reports (incidence and prevalence 2021; dialysis spending2022, inflation adjusted). Renalytix announcement, 1 September 2026 (Medicare CKD spending). UK Renal Registry annual reports. Kidney Research UK, Kidney disease: a UK public health emergency, 2023. © 2026 Renalytix kidneyintelX.dkd 6
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In multi-year, real-world use across thousands of patients, kidneyintelX.dkd has changed the approach Blood Sugar Improvement 8.2% to 7.5% HbA1c, high-risk patients Blood Pressure Improvement 33% to 61% High and intermediate risk, under 140/90 Urine Protein Reduction >20% UACR Lower, high and intermediate risk Kidney Function Improvement 43% Slower rate of eGFR decline, high-risk patients Move to Lower Risk 29% Patients moved to a lower risk level Sources: Tokita J, et al. J Prim Care Community Health 2024;15 (12 months, Mount Sinai). Renalytix announcement, 30 June 2026, on two-year results in Diabetes, Obesity and Metabolism. Renalytix announcement, 12 November 2025 (patients tested). Changes measured from baseline. © 2026 Renalytix kidneyintelX.dkd 7 Real-World Associations of KidneyIntelX Risk Stratification With Guideline-Directed Therapy, Kidney Outcomes, and Metabolic Trajectories in Early Diabetic Kidney Disease June 2026 Major Study Publication
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September 2026 agreement with Quest Diagnostics: an inflection for kidneyintelX.dkd national adoption Quest at a glance Generated 2025 revenues of approximately $11B Touches the lives of one-third of American adults each year Serves approximately half of the physicians and hospitals in the U.S. annually Enables access for approximately 90% of U.S. insured lives Engages workforce of nearly 57,000 employees dedicated to putting patients first every day Employs a medical and scientific staff of over 700 M.D.s and Ph.D.s Facilitates transport of specimens via a logistics network of over 4,000 courier vehicles and nearly 20 aircraft that collectively make more than 73,000 stops daily Source: Quest Diagnostics. © 2026 Renalytix kidneyintelX.dkd 8 T H E S T R A T E G I C P I V O T
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One agreement, comprehensive national reach and logistics for kidneyintelX.dkd beginning 2027 ~50% of US physicians and hospitals 2,000 service centers where patients can have blood drawn 6,000 in-office phlebotomists drawing blood © 2026 Renalytix kidneyintelX.dkd 9 T H E S T R A T E G I C P I V O T
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Access through Quest infrastructure eliminates final critical barriers to market #1 Patient identification The UACR urine test (kidney disease diagnosis or “Dx”) is a key entry point for kidneyintelX.dkd (kidney disease prognosis or “Px”) #2 Seamless Order & Sample Easy for patient. kidneyintelX.dkd blood draw at 2,000 Quest service centers, 6,000 in-office phlebotomists Easy for doctor. kidneyintelX.dkd is ordered from a familiar, widely used system Easy for Renalytix. Samples travel to our New York laboratory with results sent electronically to physician Source: Renalytix announcement, 1 September 2026. Ordering through Quest is expected to be available in the first quarter of 2027. © 2026 Renalytix kidneyintelX.dkd 10 T H E S T R A T E G I C P I V O T
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T H E S T R A T E G I C P I V O T Immediate operating cost savings with a radical reduction in capital needed to scale Margin Improvement Renalytix expects substantial margin improvement for sample acquisition, transport, servicing, score reporting Limited capital for scale Renalytix completes national distribution access without need to build large fixed commercial overhead (e.g, sales force) Financial discipline remains a priority with resource allocation now being directed to supporting Quest opportunity Sources: Renalytix announcements, 1 and 3 September 2026. Forward-looking statements, subject to the risks described in the Circular to Shareholders of 8 September 2026. © 2026 Renalytix kidneyintelX.dkd 11
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Timing is everything – the 2026 kidney groundswell Rapidly expanding diagnosis (UACR) Sources: FDA De Novo decision summary DEN200052 (intended population and test inputs). NCQA HEDIS Kidney Health Evaluation for Patients with Diabetes (KED). Renalytix announcement, 1 September 2026. Video: Boehringer Ingelheim, 'Mission: Detect the SOS', Super Bowl LX, 8 February 2026. kidneyintelX.dkd 12 New drug therapies available Through Quest, millions of known patients qualify for and need kidneyintelX.dkd 2026 Superbowl UACR Dx key lead to kidneyintelX.dkd Px
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I M P L E M E N T A T I O N The road to first Quest-supported orders in 2027 Sep 26 Agreement executed Sep 26 Repositioning with £10.5M new equity + debt retirement Under way Ordering & results interface built and tested within Quest Pre-launch Commercial team trained, Renalytix lab capacity and automation Q1 2027e kidneyintelX.dkd available for ordering through Quest 2027 target: 25,000 kidneyintelX.dkd tests Subject to timing on completion of the interface and training for the commercial team. A target, not a forecast. Sources: Renalytix announcement, 1 September 2026; Circular to Shareholders, 8 September 2026. The 2027 figure is a target, not a forecast. Forward-looking statements are subject to the risks described in the circular. © 2026 Renalytix kidneyintelX.dkd 13 Jan-Sep 26 Comprehensive diligence
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C A P A C I T Y T O F I T S C A L E Reconfiguring our lab for rapid upscale & processing By 2028 200,000 tests / yr (770 tests per day) New location April 2026 New lab has more than 3.5 times the capacity, at a lower fixed cost Automation December 2026 Adding automation features to significantly increase throughput with limited personnel increase Limited Cost Within budget Lower COGS and greater margin with ability to scale capacity vs. demand Sources: Renalytix announcement, 22 April 2026 (laboratory transfer, capacity, savings); Circular to Shareholders, 8 September 2026 (use of proceeds). 'Variable overhead' is a management statement. © 2026 Renalytix kidneyintelX.dkd 14
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C A P I T A L T A B L E Significant improvement in the Balance Sheet N E W E Q U I T Y I N V E S T M E N T £10.5M Oversubscribed placing with institutional investors, including significant US fund participation Strong director investment alongside shareholders Priced at 6p, a 44.6% premium to the closing price D E B T R E D U C T I O N £3.5M to £0 Long-term institutional debt eliminated through full conversion of debt to equity Sources: Renalytix announcements, 3 and 8 September 2026; Circular to Shareholders, 8 September 2026. £10.5M gross across placing, subscription and retail offer; second tranche subject to today's resolutions. Conversion of about US$4.7M of convertible bonds (£3.5M at 6p). © 2026 Renalytix kidneyintelX.dkd 15
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F U T U R E V A L U E & C A T A L Y S T S Potential short-term value catalysts Worldwide distribution In discussions with multiple large diagnostic manufacturers for worldwide distribution CE mark moving to final stage Pharma kidneyintelX.dkd advancing as patient-inclusion criterion and outcomes endpoint in large pharma drug trial Expected increase to 2027 services revenue line Capital markets US and UK analyst coverage Enhanced trading liquidity in UK and US Option to explore dual listing on Nasdaq at the appropriate juncture Forward-looking statements, subject to the risks described in the Circular to Shareholders of 8 September 2026. Nothing on this slide is a commitment or a forecast. Sources: Renalytix announcements, 8 October 2024, 12 November 2025, 26 March 2026 and 22 April 2026. © 2026 Renalytix kidneyintelX.dkd 16