letter from KEVIN

kevin conroy, Chairman of the Board & Chief Executive Officer

Fellow shareholders,
We have never been more excited about the future at Exact Sciences, following a transformative year in 2019. We screened nearly 1.7 million people with Cologuard® and tested 156,000 patients with Oncotype DX®. We announced and closed the Genomic Health acquisition, combining two of the strongest brands and teams in cancer diagnostics. The strong foundation we’ve built for Cologuard and Oncotype DX, the capabilities of our combined team, and our financial strength will allow us to deliver more innovative tests to people in need.

Following our combination with Genomic Health, we organized the company into four areas to support the strength of current tests and accelerate the introduction of new, innovative diagnostics. We have unmatched breadth in advanced cancer diagnostics, with sales teams focused on primary care, oncology, gastroenterology, urology, and women’s health, and talented insurance and health systems teams to support them. We have one of the largest and most productive research and development teams in diagnostics, along with a robust lab, regulatory, and IT platform for growth. This infrastructure enables us to rapidly develop and deploy advanced cancer diagnostics to support patients throughout their cancer experience on a global scale. This report highlights the team, tests, and strengths of each of these four areas, and how Exact Sciences is positioned to positively impact cancer care, from early-stage screening to late-stage therapy selection.

Continuing the fight against cancer during a global pandemic
Even in unprecedented times, cancer doesn't stop. The coronavirus pandemic highlights and increases the need for novel ways to screen for cancer, understand its aggressiveness, and guide treatment. Our Cologuard, Oncotype DX, and Paradigm PCDx™ tests meet those needs. In a world that is trying to avoid physician office visits, invasive procedures, and treatments, our tests and deep pipeline are more valuable now than ever. We plan to play an even greater role in the fight against cancer during the coronavirus pandemic and after it abates.

Forward-Looking Statements

This report contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, that are intended to be covered by the"safe harbor" created by those sections. Forward-looking statements, which are based on certain assumptions and describe our future plans, strategies and expectations, can generally be identified by the use of forward-looking terms such as "believe," "expect,""may," "will," "should," "would," "could," "seek," "intend," "plan," "goal," "project," "estimate," "anticipate" or other comparable terms. All statements other than statements of historical facts included in this report regarding our strategies, prospects, expectations, goals, financial condition, operations, costs, plans and objectives are forward-looking statements. Examples of forward-looking statements include, among others, statements we make regarding expected growth opportunities and market share, future operating results, anticipated results of our sales, marketing and patient adherence efforts, expectations concerning payer 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. Actual results, conditions and events 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 actual results, conditions and events to differ materially from those indicated in the forward-looking statements include, among others, the 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.