Corporate Overview

CareDx, Inc.

June 2015

1

Safe Harbor Statement

These slides and the accompanying oral presentation contain forward-looking statements. All statements other than statements of

historical fact contained in this presentation, including statements regarding future financial position of CareDx, Inc. (“CareDx” or the

“Company”), including financial targets, business strategy, and plans and objectives for future operations, are forward-looking

statements. CareDx has based these forward-looking statements on its estimates and assumptions and its current expectations and

projections about future events. These forward-looking statements are subject to a number of risks, uncertainties and assumptions,

including those that may be described in greater detail in a registration statement (including a prospectus) that the Company may

subsequently file with the U.S. Securities and Exchange Commission (the “SEC”) for the transaction to which this communication relates.

In light of these risks, uncertainties and assumptions, the forward-looking events and circumstances discussed in this presentation are

inherently uncertain and may not occur, and actual results could differ materially and adversely from those anticipated or implied in the

forward-looking statements. Accordingly, you should not rely upon forward-looking statements as predictions of future events. CareDx

undertakes no obligation to update publicly or revise any forward-looking statements for any reason after the date of this presentation, to

conform these statements to actual results or to changes in CareDx’s expectations.

CareDx is an “emerging growth company” as defined under the Securities Act of 1933, as amended (the “Act”). These slides and the

accompanying oral presentation are intended to qualify as communications permitted pursuant to Section 5(d) of the Act. The Company

may file a registration statement (including a prospectus) under the Act with the SEC for the transaction to which this communication

relates. In the event the Company conducts an offering, before you invest you should read the prospectus in the registration statement and

other documents that the Company files with the SEC for more complete information about the Company and the offering. When available,

you may obtain those documents for free by visiting EDGAR on the SEC Web site at www.sec.gov.

Certain data in this presentation was obtained from various external sources, and neither the Company nor its affiliates, advisers or

representatives has verified such data with independent sources. Accordingly, neither the Company nor any of its affiliates, advisers or

representatives makes any representations as to the accuracy or completeness of that data or to update such data after the date of this

presentation. Such data involves risks and uncertainties and is subject to change based on various factors.

The trademarks included herein are the property of the owners thereof and are used for reference purposes only. Such use should not be

construed as an endorsement of the products or services of the Company or the proposed offering.

2

CareDx Overview

Markets Standard for Heart Transplant Surveillance - AlloMap

> 50% new transplant patient adoption

> 80% penetration of US Transplant Centers

Further growth from number of tests per patient

Commercial Stage Company with Strong Financial Profile

2014 Revenue of $27M, Gross Margins of ~65%

Platform for partnerships and menu expansion

Commercial Stage Growth Company in

Clinical Diagnostics Focused on Organ Transplantation

3

Expands into Kidney Transplant Opportunity - Cell-Free DNA

> $800 M Kidney Transplant Surveillance Opportunity

Adoption of Clinical Sequencing Technology to outcomes and costs

Outcomes for transplant recipients have not improved over the past decade

CareDx focuses on long-term Outcomes

4

TOO LITTLE

Increased risk of:

■ Rejection

Leading to failure

of the organ

TOO MUCH

Increased risk of:

■ Infections

■ Kidney failure

■ Cancer

■ Onset of Diabetes

Transplant Recipients are high value patients in the Health Care System

Median survival: Heart/Kidney 10-12 years

Established Standard for Surveillance of Heart

Transplant Rejection Risk

Clinically Useful and Actionable

Established in Transplantation

Recommended in Guidelines

FDA-cleared

Broadly Reimbursed

■ Used in 110 of the 129

U.S. heart transplant centers

■ Highly reproducible and quantitative;

99% Negative Predictive Value

■ FDA 510(k)-cleared to assess risk

of heart transplant rejection

■ 175 million covered lives and

> 79% overall tests reimbursed

■ Placed in ISHLT guidelines in 2010

AlloMap is a non-invasive, molecular diagnostic surveillance solution

5

Extensive Clinical Expertise with Landmark Trials

Year Study Impact Patients Samples

2004 CARGO ■ Validation of AlloMap – Gene Expression Test 722 14,200

2010 IMAGE ■ AlloMap surveillance non-inferior to biopsy 602 5,900

2011 CARGO II■ AlloMap performance in Acute Cellular Rejection

■ Long term outcomes and AlloMap variability741 22,900

2013 eIMAGE■ Early Use of AlloMap (≥ 55 days post-Tx)

■ AlloMap may be used guiding Medication60 500

2013 OAR ■ AlloMap Registry focused on Clinical Outcomes> 2,000

planned

> 8,000-

16,000

6

Reinvigorated Sales Growth for AlloMap

AlloMap Quarterly Unit Volume

■ Leadership change in late 2012

■ AlloMap repositioned as a surveillance solution 2013

■ Improved commercial focus reigniting growth & adoption

Regular Surveillance Tool

Immunosuppression

Longitudinal Data

Patient Stratification

Center by Center Approach

Actionable Data

Focus on Execution

Growth Plan

7

+11.4%

2042 2,087 2,225

2,488 2,600 2,751 2,792

3,019 3,024 3,103 3,111

Avg Avg Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1

2011 2012 2013 2014 2015

Post-Transplant Surveillance Market Opportunity

8

Total Addressable Market

First Year Patients 16.900 x 80% x 8 x $ 1500 = $ 0.2 Bn

Maintenance Patients 180.000 x 70% x 4 x $ 1500 = $ 0.8 Bn

Donor-derived cell-free DNA

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New Biomarker for surveillance of transplanted Organ

Non-rejection

(Quiescent)

Rejection

(cell injury)

cfDNA in

plasmaOrgan

Transplant

% of dd-cfDNA can be measured in plasma and increases as cells

from the transplanted organ are injured (aptosis, necrosis)

Growing Evidence for Utility of cfDNA

Author Year Description Technology

Macher, Rubio

(Seville)2014

• Monitoring in Liver

PLOS One 9(12):e113987

PCR

gender mis-match

DeVlaminck, Quake

(Stanford)2014

• Diagnosis of acute rejection in Heart

Sci Transl Med. 6(241):241

NGS shotgun/SNP

dual genotyping

Hidestrand

(Wisconsin)2014

• Used to detect rejection in Heart

JACC 63:1224

Targeted NGS

dual genotyping

Beck, Schutz

(Chronix)2013

• Methods to quantify in Heart, Kidney, Liver

Clin Chem 59:12

Digital PCR/SNP,

dual genotyping

Snyder, Quake

(Stanford)2011

• Elevated during rejection in Heart

PNAS 108(15):6229

NGS shotgun/SNP

dual genotyping

Gadi et al

(U Wash)2006

• Correlates with rejection of Pancreas-Kidney

Clin Chem 52:379

HLA qPCR

dual HLA typing

Lo et al

(Hong Kong)1998

• Present in Kidney & Liver

Lancet 351 (9112):1329

PCR

gender mis-match

Surveillance of Organ Health and Treatment Response

11

Time post transplant

%d

d-c

fDN

A

Rejection

Data recently presented at ISHLT, April 2015 and ATC, May 2015:

• dd-cfDNA increases with rejection and decreases following successful treatment

• Data generated for heart and kidney suggesting universal applicability (liver, lung)

• Approach doesn’t require genotyping of the donor or recipient

• For heart, dd-cfDNA provides value independent of AlloMap

1

2

3

41

Non-rejection

Rejection

1

2 Onset of Rejection

3

Post-Rejection4

Optimization of

Immunosuppression

Coverage Data

Development

PayorReimbursement

R&D assay AnalyticalValidation

CLIA Clinical ValidationAssay

Clinical

Reimbursement

DART 2

Clinical utilityInterimreview

DART 1 clinical validation

Development Building Blocks

12

MedicareReimbursement

In Progress

04/15

H1/16

04/15 12/15

cfDNA Test Development in Heart and Kidney

13

April 2015

Initiate DART (Observational Study)

Start Clinical Validation Process

April 2015

Completed Analytical

Performance Characterization

Q4 2015

Release Analytically

Validated Test

Q2 2016

Launch clinically Validated

cfDNA Test

Completed Clinical

Validation

H2 2016

Initiate DART 2 (Interventional Study)

Start Clinical Utility Study

cfDNA – Heart

AlloSure

cfDNA – Kidney

RenaSureDART IKARGO

CARGO II D-OAR

Clinical studies

DART 2

Archived samples

Open study

Development timeline

Today

Q2 2014Concept studies

Q3-4 2014Feasibility studies

Q4 2015

Analytical

manuscript

submission

H1 2016

Interim DART 1

Analysis

DART Trial runs in 2 Phases

Trial Sites

DART II

14

DART I

>6

Single Arm Multicenter Trial

Enrollment: n ~ 200

Interim analyses at 6, 12 & 18 m

Clinical validity

Correlate with clinical status

>10

Multicenter Interventional Trial

Enrollment: n ~ 600

Interim analyses at 6, 12 & 18 m

Clinical utility

Reduction in renal biopsies

Individualized Tacrolimus dose

Serum creatinine

Glomerular Filtration Rate

(Onset of need of dialysis)

Design

Endpoints

Objective

Note: Work in progress and subject to change

AlloMap

(FDA)

AlloMap

Variability

cfDNA

Heart

(RUO)

RenAsure

Kidney

(LDT)

cfDNA

Lung & Liver

Anellovirus

Pipeline

Metastatic

melanoma

Gene Expression

Profiling

Clinical Sequencing:

Cell injury

Clinical Sequencing:

Infections

Clinical Sequencing:

Malignancies

Kidney

GEP

Active

BD&L

effort

to

leverage

fully

operational

CliA lab

presence

Organic In-organic

Experienced Team with a Track Record of Success

Key Management Previous

Employment

Peter MaagPresident, CEO and Director

James P. YeeChief Medical Officer

Matthew MeyerChief Business Officer

Ken LudlumChief Financial Officer

Mitchell J. NellesChief Operating Officer

Partners

16

John Sninsky

Chief Scientific Officer

Josh DeFonzoChief Commercial Officer

(Strategic)

(Logistics)

(Europe)

Financial Summary

$20$22

$27

2012 2013 2014

$M

illio

ns

$-2.3 $-0.9

$1.2

Op

era

tin

g P

rofi

t

Close to Operating

Profitability in Core Business

59% 58%67%

2012 2013 2014

Gro

ss

Ma

rgin

Operating Profit

25-30%

Cost of Sales 20%

R&D 15%

G&A 10%

Cost of Revenue

25%

Gross Margin of ~75%

Operating Profit ~25%

Steady Sales Growth

Year Over Year

Achievable Financial Performance

Gross Margin

Already Good on Early Revenue

2012 2013 2014*

17

*includes one time revenue

$Millions

Financial Summary

Upcoming Events

Q2 Earnings Release – August 11th

Steady ASP since Launch

Quarterly Highlights

Strong Balance Sheet (3/31/15)

Jefferies Conference New York June 1st

Annual Shareholders Meeting June 16th

JMP Conference New York June 23rd

HFSA Baltimore Sept 26th

18

$500

$1,000

$1,500

$2,000

$2,500

$3,000

ASSETS ($ Millions)

Current Assets

Cash & cash equivalents 39.0

Other Current Assets 3.3

Total current assets 42.3

Long Term Assets 21.0

TOTAL ASSETS $63.3

Current Liabilities 5.2

Long Term Debt 15.7

Other Liability 2.9

Shareholders Equity 39.5

TOTAL LIABILITIES $63.3

CareDx – Growth Story

Build on the Foundation

- Drive AlloMap

- Develop cfDNA

- Add external growth

Leverage Platform

- Enter Kidney Tx Market

- Innovate Tx Offerings

- Infection/Virome

- Malignancies

- Expand capabilities/technologies

2015

2016

2017

19

Move from rejection risk

to long-term outcomes

for Heart Tx Patients

Improve long-term

outcomes for

Transplant Patients

Personalize

Care for

Chronically-ill Patients

Expand outside Transplant

- Enter Adjacencies

- Partner on solutions

- Drive Patient Engagement