Filed by VG Acquisition Corp.
Pursuant to Rule 425 under the Securities Act of 1933
and deemed filed pursuant to Rule 14a-12
of the Securities Exchange Act of 1934
Subject Company: 23andMe, Inc.
Commission File No.: 001-39587
Disclaimer This presentation (this “Presentation”) is for
informational purposes only to assist interested parties in making their own evaluation of the proposed transaction (the “Transaction”) between VG Acquisition Corp. (“VG”) and 23andMe, Inc. (“23andMe”). This
Presentation does not constitute investment, tax or legal advice. No representation, express or implied, is or will be given by VG, 23andMe or their respective affiliates and advisors as to the accuracy or completeness of the information contained
herein, or any other written or oral information made available in the course of an evaluation of the Transaction. To the fullest extent permitted by law, in no circumstances will VG, 23andMe or any of their respective stockholders, affiliates,
representatives, partners, directors, officers, employees, advisers or agents be responsible or liable for any direct, indirect or consequential loss or loss of profit arising from the use of this presentation, its contents, its omissions, reliance
on the information contained within it or on opinions communicated in relation thereto or otherwise arising in connection therewith. Forward-Looking Statements This Presentation may contain certain “forward-looking statements” within the
meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, including statements regarding VG’s and its management
teams’ expectations, hopes, beliefs, intentions or strategies regarding the future. The words “anticipate”, “believe”, “continue”, “could”, “estimate”, “expect”,
“intends”, “may”, “might”, “plan”, “possible”, “potential”, “predict”, “project”, “should”, “would” and similar expressions may
identify forward looking statements, but the absence of these words does not mean that a statement is not forward looking. The forward-looking statements contained herein are based on VG’s and 23andMe’s current expectations and beliefs
concerning future developments and their potential effects on VG, 23andMe or any successor entity of the Transaction. There can be no assurance that the future developments affecting VG, 23andMe or any successor entity of the Transaction will be
those that have been anticipated. These forward-looking statements involve a number of risks, uncertainties (some of which are beyond the control of VG and 23andMe) or other assumptions that may cause actual results or performance to be materially
different from those expressed or implied by these forward-looking statements. These factors include, among others: the inability to complete the Transaction; the inability to recognize the anticipated benefits of the proposed transaction, including
due to the failure to receive required security holder approvals, or the failure of other closing conditions; and costs related to the proposed Transaction. Except as required by law, VG and 23andMe do not undertake any obligation to update or
revise any forward-looking statements whether as a result of new information, future events or otherwise. Non-GAAP Financial Measures Certain of the financial measures included in this Presentation, including Adjusted EBITDA, have not been prepared
in accordance with generally accepted accounting principles, or “GAAP”, and constitute “non-GAAP financial measures” as defined by the rules of the Securities and Exchange Commission (the “SEC”). VG has included
these non-GAAP financial measures because it believes they provide an additional tool for investors to use in evaluating the financial performance and prospects of 23andMe or any successor entity of the Transaction. These non-GAAP financial measures
should not be considered in isolation from, or as an alternative to, financial measures determined in accordance with GAAP. In addition, these non-GAAP financial measures may differ from non-GAAP financial measures with comparable names used by
other companies. See the Appendix for a description of these non-GAAP financial measures and a reconciliation of the historic measures to 23andMe’s most comparable GAAP financial measures. Note however, that to the extent forward looking
non-GAAP financial measures are provided herein, they are not reconciled to comparable forward-looking GAAP measures due to the inherent difficulty in forecasting and quantifying certain amounts that are necessary for such reconciliation.
Intellectual Property All rights to the trademarks, copyrights, logos and other intellectual property listed herein belong to their respective owners and VG’s and 23andMe’s use thereof does not imply an affiliation with, or endorsement
by the owners of such trademarks, copyrights, logos and other intellectual property. Solely for convenience, trademarks and trade names referred to in this Presentation may appear with the ® or ™ symbols, but such references are not
intended to indicate, in any way, that such names and logos are trademarks or registered trademarks of VG or 23andMe. Industry and Market Data This Presentation relies on and refers to certain information and statistics based on 23andMe’s
management’s estimates, and/or obtained from third party sources which it believes to be reliable. Neither VG nor 23andMe has independently verified the accuracy or completeness of any such third party information. Additional Information VG
has filed a registration statement on Form S-4 (File No. 333- 254772) (the “Registration Statement”) , which includes a preliminary proxy statement/consent solicitation statement/prospectus. After the Registration Statement is declared
effective, the definitive proxy statement/consent solicitation statement/prospectus and other relevant documents will be mailed to stockholders of VG as of a record date to be established for voting on the business combination. Shareholders of VG
and other interested persons are advised to read the preliminary proxy statement/consent solicitation statement/prospectus included in the Registration Statement, and when available, any amendments thereto and the definitive proxy statement/consent
solicitation statement/prospectus because these documents contain and will contain important information about VG, 23andMe and the Transaction. Shareholders can obtain copies of the Registration Statement and when available, the definitive proxy
statement/consent solicitation statement/prospectus, without charge, by directing a request to: VG Acquisition Corp. VG Acquisition Corp. 65 Bleecker Street, 6th Floor, New York NY 10012. These documents, once available, and VG’s annual and
other reports filed with the SEC can also be obtained, without charge, at the SEC’s internet site (http://www.sec.gov). This Presentation does not constitute an offer to sell or the solicitation of an offer to buy any securities, or a
solicitation of any vote or approval, nor shall there be any sale of securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such
jurisdiction. Participants in the Solicitation VG, 23andMe and their respective directors, executive officers, other members of management and employees may be deemed to be participants in the solicitation of proxies from VG’s shareholders in
connection with the Transaction. Information regarding the names and interests in the proposed transaction of VG’s directors and officers is contained VG’s filings with the SEC. Additional information regarding the interests of such
potential participants in the solicitation process is also included in the Registration Statement (and will be included in the definitive proxy statement/consent solicitation statement/prospectus and other relevant documents when they are filed with
the SEC).Disclaimer This presentation (this “Presentation”) is for informational purposes only to assist interested parties in making their own evaluation of the proposed transaction (the “Transaction”) between VG Acquisition
Corp. (“VG”) and 23andMe, Inc. (“23andMe”). This Presentation does not constitute investment, tax or legal advice. No representation, express or implied, is or will be given by VG, 23andMe or their respective affiliates and
advisors as to the accuracy or completeness of the information contained herein, or any other written or oral information made available in the course of an evaluation of the Transaction. To the fullest extent permitted by law, in no circumstances
will VG, 23andMe or any of their respective stockholders, affiliates, representatives, partners, directors, officers, employees, advisers or agents be responsible or liable for any direct, indirect or consequential loss or loss of profit arising
from the use of this presentation, its contents, its omissions, reliance on the information contained within it or on opinions communicated in relation thereto or otherwise arising in connection therewith. Forward-Looking Statements This
Presentation may contain certain “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange
Act of 1934, as amended, including statements regarding VG’s and its management teams’ expectations, hopes, beliefs, intentions or strategies regarding the future. The words “anticipate”, “believe”,
“continue”, “could”, “estimate”, “expect”, “intends”, “may”, “might”, “plan”, “possible”, “potential”, “predict”,
“project”, “should”, “would” and similar expressions may identify forward looking statements, but the absence of these words does not mean that a statement is not forward looking. The forward-looking statements
contained herein are based on VG’s and 23andMe’s current expectations and beliefs concerning future developments and their potential effects on VG, 23andMe or any successor entity of the Transaction. There can be no assurance that the
future developments affecting VG, 23andMe or any successor entity of the Transaction will be those that have been anticipated. These forward-looking statements involve a number of risks, uncertainties (some of which are beyond the control of VG and
23andMe) or other assumptions that may cause actual results or performance to be materially different from those expressed or implied by these forward-looking statements. These factors include, among others: the inability to complete the
Transaction; the inability to recognize the anticipated benefits of the proposed transaction, including due to the failure to receive required security holder approvals, or the failure of other closing conditions; and costs related to the proposed
Transaction. Except as required by law, VG and 23andMe do not undertake any obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise. Non-GAAP Financial Measures Certain of the
financial measures included in this Presentation, including Adjusted EBITDA, have not been prepared in accordance with generally accepted accounting principles, or “GAAP”, and constitute “non-GAAP financial measures” as
defined by the rules of the Securities and Exchange Commission (the “SEC”). VG has included these non-GAAP financial measures because it believes they provide an additional tool for investors to use in evaluating the financial
performance and prospects of 23andMe or any successor entity of the Transaction. These non-GAAP financial measures should not be considered in isolation from, or as an alternative to, financial measures determined in accordance with GAAP. In
addition, these non-GAAP financial measures may differ from non-GAAP financial measures with comparable names used by other companies. See the Appendix for a description of these non-GAAP financial measures and a reconciliation of the historic
measures to 23andMe’s most comparable GAAP financial measures. Note however, that to the extent forward looking non-GAAP financial measures are provided herein, they are not reconciled to comparable forward-looking GAAP measures due to the
inherent difficulty in forecasting and quantifying certain amounts that are necessary for such reconciliation. Intellectual Property All rights to the trademarks, copyrights, logos and other intellectual property listed herein belong to their
respective owners and VG’s and 23andMe’s use thereof does not imply an affiliation with, or endorsement by the owners of such trademarks, copyrights, logos and other intellectual property. Solely for convenience, trademarks and trade
names referred to in this Presentation may appear with the ® or ™ symbols, but such references are not intended to indicate, in any way, that such names and logos are trademarks or registered trademarks of VG or 23andMe. Industry and
Market Data This Presentation relies on and refers to certain information and statistics based on 23andMe’s management’s estimates, and/or obtained from third party sources which it believes to be reliable. Neither VG nor 23andMe has
independently verified the accuracy or completeness of any such third party information. Additional Information VG has filed a registration statement on Form S-4 (File No. 333- 254772) (the “Registration Statement”) , which includes a
preliminary proxy statement/consent solicitation statement/prospectus. After the Registration Statement is declared effective, the definitive proxy statement/consent solicitation statement/prospectus and other relevant documents will be mailed to
stockholders of VG as of a record date to be established for voting on the business combination. Shareholders of VG and other interested persons are advised to read the preliminary proxy statement/consent solicitation statement/prospectus included
in the Registration Statement, and when available, any amendments thereto and the definitive proxy statement/consent solicitation statement/prospectus because these documents contain and will contain important information about VG, 23andMe and the
Transaction. Shareholders can obtain copies of the Registration Statement and when available, the definitive proxy statement/consent solicitation statement/prospectus, without charge, by directing a request to: VG Acquisition Corp. VG Acquisition
Corp. 65 Bleecker Street, 6th Floor, New York NY 10012. These documents, once available, and VG’s annual and other reports filed with the SEC can also be obtained, without charge, at the SEC’s internet site (http://www.sec.gov). This
Presentation does not constitute an offer to sell or the solicitation of an offer to buy any securities, or a solicitation of any vote or approval, nor shall there be any sale of securities in any jurisdiction in which such offer, solicitation or
sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. Participants in the Solicitation VG, 23andMe and their respective directors, executive officers, other members of management and
employees may be deemed to be participants in the solicitation of proxies from VG’s shareholders in connection with the Transaction. Information regarding the names and interests in the proposed transaction of VG’s directors and officers
is contained VG’s filings with the SEC. Additional information regarding the interests of such potential participants in the solicitation process is also included in the Registration Statement (and will be included in the definitive proxy
statement/consent solicitation statement/prospectus and other relevant documents when they are filed with the SEC).
Evan Lovell Anne Wojcicki Steve Schoch Kenneth Hillan, M.B., Ch.B. Adam
Auton CIO, Virgin Group Co-Founder and CEO CFO Head of Therapeutics VP Human Genetics CFO, VGAC 1Evan Lovell Anne Wojcicki Steve Schoch Kenneth Hillan, M.B., Ch.B. Adam Auton CIO, Virgin Group Co-Founder and CEO CFO Head of Therapeutics VP Human
Genetics CFO, VGAC 1
Virgin’s Investment Thesis for 23andMe Disrupting the Healthcare
experience. 23andMe is building a personalized health and wellness 1 experience that caters uniquely to the individual by harnessing the power of their DNA The world’s premier re-contactable genetic database. A vast proprietary dataset rich
with both 2 genotypic and phenotypic information allows insights that unlock revenue streams across digital health, therapeutics, and much more Recognized and trusted brand with leading engagement metrics. Impressive repeat customer 3 engagement
validates the 23andMe platform and the demand for genetics-based consumer service Institutionally sponsored therapeutics efforts. A broad pipeline established in collaboration with GSK 4 validates the approach of developing novel therapeutics using
genetic data Multiple avenues for value creation. The FDA-approved consumer platform, the therapeutics efforts, and 5 the rich database each create optionality for outsized value creation that is difficult to replicate A world-class management team.
Pioneers in their industries, the team has a long track record of success 6 and value creation 2Virgin’s Investment Thesis for 23andMe Disrupting the Healthcare experience. 23andMe is building a personalized health and wellness 1 experience
that caters uniquely to the individual by harnessing the power of their DNA The world’s premier re-contactable genetic database. A vast proprietary dataset rich with both 2 genotypic and phenotypic information allows insights that unlock
revenue streams across digital health, therapeutics, and much more Recognized and trusted brand with leading engagement metrics. Impressive repeat customer 3 engagement validates the 23andMe platform and the demand for genetics-based consumer
service Institutionally sponsored therapeutics efforts. A broad pipeline established in collaboration with GSK 4 validates the approach of developing novel therapeutics using genetic data Multiple avenues for value creation. The FDA-approved
consumer platform, the therapeutics efforts, and 5 the rich database each create optionality for outsized value creation that is difficult to replicate A world-class management team. Pioneers in their industries, the team has a long track record of
success 6 and value creation 2
1 Behind Every Data Point is a Human Being1 Behind Every Data Point is a
Human Being
Our Mission is to Help People Access, Understand and Benefit from the Human
Genome 1 11.3M REGENERON 1M MILLION VETERAN 825,000 PROGRAM UK BIOBANK 500,000 ALL OF US 366,000 FINNGEN 176,000 DECODE GENETICS 160,000 100,000 GENOMICS ENGLAND Size and scale of 23andMe enables rapid, novel discoveries 1 8.9M of 23andMe’s
genotyped customers consented to research. Participant counts sourced from company websites (January 19, 2021). This comparison was conducted against databases that collect genetic information (genotypes, exomes, or genomes) on research participants
and have disclosed or published their consented research 3 participant numbers, as of December 31, 2020.Our Mission is to Help People Access, Understand and Benefit from the Human Genome 1 11.3M REGENERON 1M MILLION VETERAN 825,000 PROGRAM UK
BIOBANK 500,000 ALL OF US 366,000 FINNGEN 176,000 DECODE GENETICS 160,000 100,000 GENOMICS ENGLAND Size and scale of 23andMe enables rapid, novel discoveries 1 8.9M of 23andMe’s genotyped customers consented to research. Participant counts
sourced from company websites (January 19, 2021). This comparison was conducted against databases that collect genetic information (genotypes, exomes, or genomes) on research participants and have disclosed or published their consented research 3
participant numbers, as of December 31, 2020.
1 25% U.S. healthcare spending is waste The Healthcare 2 75% System is
Consumers wish their healthcare experience was more personalized Dysfunctional 3 “Of course our system isn’t about healthcare, it’s about -15 maximizing revenue for a whole bunch of different players that have nothing to do with
what’s good for patients.” The net positive score Americans gave the pharmaceutical industry Elisabeth Rosenthal (Editor-in-Chief, Kaiser Health News) 4 <12% Probability of success for a drug to be approved, taking ~10 years and
costing $2.6B to develop 1 2 JAMA, “Waste in the US Health Care System” (2019). Redpoint Global / Dynata survey of over 1,000 U.S. consumers (2020). 3 4 Gallup, “Americans’ Views of U.S. Business and Industry Sectors”
(2020). PhRMA, “Biopharmaceutical Research & 4 Development: The Process Behind New Medicines” (2015). 1 25% U.S. healthcare spending is waste The Healthcare 2 75% System is Consumers wish their healthcare experience was more
personalized Dysfunctional 3 “Of course our system isn’t about healthcare, it’s about -15 maximizing revenue for a whole bunch of different players that have nothing to do with what’s good for patients.” The net
positive score Americans gave the pharmaceutical industry Elisabeth Rosenthal (Editor-in-Chief, Kaiser Health News) 4 <12% Probability of success for a drug to be approved, taking ~10 years and costing $2.6B to develop 1 2 JAMA, “Waste in
the US Health Care System” (2019). Redpoint Global / Dynata survey of over 1,000 U.S. consumers (2020). 3 4 Gallup, “Americans’ Views of U.S. Business and Industry Sectors” (2020). PhRMA, “Biopharmaceutical Research
& 4 Development: The Process Behind New Medicines” (2015).
Media Consumer Scale and Travel Empowerment is the Key to Disrupting
Commerce Healthcare Hospitality “Healthcare cannot change from within, it will need an outside force to change it, and that force will be our customers.” Anne Wojcicki Healthcare 5Media Consumer Scale and Travel Empowerment is the Key to
Disrupting Commerce Healthcare Hospitality “Healthcare cannot change from within, it will need an outside force to change it, and that force will be our customers.” Anne Wojcicki Healthcare 5
TIME MAGAZINE INVENTION OF THE YEAR We Pioneered Digital 1 6 FDA Proven
accuracy (99% NPV/PPV) and accessibility D2C Healthcare to Authorizations Empower Customers Carrier Status (inherited conditions) 2015 With Affordable, 2016 GHR (genetic health risk) 2017 BRCA (breast and ovarian cancer) Direct Access 2018 PGt
(pharmacogenetic metabolism) MUTYH (colorectal cancer) 2019 PGt (pharmacogenetic drug response) 2020 6 1 See FDA De Novo Authorizations 140044, 160026, 170046 and 180028 and FDA 510K Clearances K182784 and K193492.TIME MAGAZINE INVENTION OF THE YEAR
We Pioneered Digital 1 6 FDA Proven accuracy (99% NPV/PPV) and accessibility D2C Healthcare to Authorizations Empower Customers Carrier Status (inherited conditions) 2015 With Affordable, 2016 GHR (genetic health risk) 2017 BRCA (breast and ovarian
cancer) Direct Access 2018 PGt (pharmacogenetic metabolism) MUTYH (colorectal cancer) 2019 PGt (pharmacogenetic drug response) 2020 6 1 See FDA De Novo Authorizations 140044, 160026, 170046 and 180028 and FDA 510K Clearances K182784 and
K193492.
Providing Customers 80% 12,000+ Customers receive Customers with an With
Key, Actionable a report with a increased risk for Chronic meaningful genetic Kidney Disease variant Insights “Like me, there are many women who have slipped through the cracks of our current medical screening system, either because they
don’t have a family history of breast or ovarian cancer. Or 6,000+ 7,000+ they do not know that they have Ashkenazi Jewish ancestry. In my case, even though I know I have Ashkenazi ancestry, that wasn’t Customers with Customers with
enough to prompt my doctor to consider screening. So there are a tested BRCA1 / many women walking around with this risk, who, like me, would Hypercholesterolemia have never known of their own risk but for this test from BRCA2 variant (FH) variants
23andMe.” 23andMe customer who discovered she had a BRCA1 mutation 7 Note: Estimates based on penetrance of variants in 23andMe’s Database. Providing Customers 80% 12,000+ Customers receive Customers with an With Key, Actionable a report
with a increased risk for Chronic meaningful genetic Kidney Disease variant Insights “Like me, there are many women who have slipped through the cracks of our current medical screening system, either because they don’t have a family
history of breast or ovarian cancer. Or 6,000+ 7,000+ they do not know that they have Ashkenazi Jewish ancestry. In my case, even though I know I have Ashkenazi ancestry, that wasn’t Customers with Customers with enough to prompt my doctor to
consider screening. So there are a tested BRCA1 / many women walking around with this risk, who, like me, would Hypercholesterolemia have never known of their own risk but for this test from BRCA2 variant (FH) variants 23andMe.” 23andMe
customer who discovered she had a BRCA1 mutation 7 Note: Estimates based on penetrance of variants in 23andMe’s Database.
World Class Leadership Team Merging Tech, Biotech and Healthcare Anne
Wojcicki Steve Schoch Kathy Hibbs, JD Kenneth Hillan, Co-Founder and Chief Chief Financial Officer Chief Legal & Regulatory Officer M.B., Ch.B. Executive Officer Head of Therapeutics Consumer Research & Corporate Therapeutics Select
Investors Kumar Iyer Joyce Tung, PhD Jennifer Low, MD, PhD Head of Product VP, Research Head of Therapeutics Development Previously at Facebook, Netflix Previously at Stanford University, UCSF Previously at Loxo, Genentech Steve Lemon Jacquie
Haggarty, MPP, JD Adam Auton, PhD VP, Engineering VP, Deputy General Counsel & Privacy Officer VP, Human Genetics Previously at Genomic Health, Latham & Watkins Previously at Albert Einstein College of Previously at Loopt, WebMD, Apple
Medicine, University of Oxford Tracy Keim David Baker Monica Viziano, PhD VP, Consumer, Marketing & Brand Chief Security Officer VP, Portfolio Strategy & Alliance Management Previously at RAPP, Bonobos, Volvo Previously at Okta, Bugcrowd
Previously at GSK, Gilead Fred Kohler Okey Onyejekwe, MD, JD VP, People Richard Scheller, PhD VP, Healthcare Ops & Medical Affairs Previously at GRAIL, Genentech Previously at Veterans Health, U.S. Air Force, Virta Board Director (former Chief
Science Officer) Previously at Genentech, Stanford University Katie Watson VP, Communications Previously at Google, Lewis PR 8World Class Leadership Team Merging Tech, Biotech and Healthcare Anne Wojcicki Steve Schoch Kathy Hibbs, JD Kenneth Hillan,
Co-Founder and Chief Chief Financial Officer Chief Legal & Regulatory Officer M.B., Ch.B. Executive Officer Head of Therapeutics Consumer Research & Corporate Therapeutics Select Investors Kumar Iyer Joyce Tung, PhD Jennifer Low, MD, PhD
Head of Product VP, Research Head of Therapeutics Development Previously at Facebook, Netflix Previously at Stanford University, UCSF Previously at Loxo, Genentech Steve Lemon Jacquie Haggarty, MPP, JD Adam Auton, PhD VP, Engineering VP, Deputy
General Counsel & Privacy Officer VP, Human Genetics Previously at Genomic Health, Latham & Watkins Previously at Albert Einstein College of Previously at Loopt, WebMD, Apple Medicine, University of Oxford Tracy Keim David Baker Monica
Viziano, PhD VP, Consumer, Marketing & Brand Chief Security Officer VP, Portfolio Strategy & Alliance Management Previously at RAPP, Bonobos, Volvo Previously at Okta, Bugcrowd Previously at GSK, Gilead Fred Kohler Okey Onyejekwe, MD, JD VP,
People Richard Scheller, PhD VP, Healthcare Ops & Medical Affairs Previously at GRAIL, Genentech Previously at Veterans Health, U.S. Air Force, Virta Board Director (former Chief Science Officer) Previously at Genentech, Stanford University
Katie Watson VP, Communications Previously at Google, Lewis PR 8
2 Transforming Healthcare With 23andMe’s Crowdsourced, Genetic
Database “The mission of 23andMe is not just about genetics. We want to transform healthcare...What I have learned after 11 years is that people want to participate in research…They don’t want to be a human subject. They want to be
respected as an equal and as a partner in the process.” Anne Wojcicki to Recode Decode (2018)2 Transforming Healthcare With 23andMe’s Crowdsourced, Genetic Database “The mission of 23andMe is not just about genetics. We want to
transform healthcare...What I have learned after 11 years is that people want to participate in research…They don’t want to be a human subject. They want to be respected as an equal and as a partner in the process.” Anne Wojcicki
to Recode Decode (2018)
Cracking the code… A C G T Unlocking the Genetic ...is a data
problem, Code Creates the a very big data Opportunity to problem Revolutionize the Diagnosis, Prevention and We are all Treatment of Most, if Not 99.5% 3 genetically alike All, Human Disease billion base pairs long 9Cracking the code… A C G T
Unlocking the Genetic ...is a data problem, Code Creates the a very big data Opportunity to problem Revolutionize the Diagnosis, Prevention and We are all Treatment of Most, if Not 99.5% 3 genetically alike All, Human Disease billion base pairs long
9
We Are Redefining Healthcare. With Data. At Scale. Cumulative Genotyped
Customers 16.4 Empowering Consumers (in M, fiscal year ends March 31) 10M+ Genetic Profiles 1 14.3 Created Critical Mass 11.3M Genotyped 12.6 Customers 11.3 9.8 Enabling Research & Services 7.8 4B+ Phenotypic Data Points 4.4 Developing
Therapeutics 2.0 40+ 2 Programs FY17A FY18A FY19A FY20A FY21A FY22E FY23E FY24E 1 8.9M consented customers allows 23andMe to perform Genome-Wide Association Studies with over 10,000 cases on all diseases over 0.1% prevalence. 10 2 As of March 21,
2021. Programs include collaborated, 100% owned and royalty interest targets. We Are Redefining Healthcare. With Data. At Scale. Cumulative Genotyped Customers 16.4 Empowering Consumers (in M, fiscal year ends March 31) 10M+ Genetic Profiles 1 14.3
Created Critical Mass 11.3M Genotyped 12.6 Customers 11.3 9.8 Enabling Research & Services 7.8 4B+ Phenotypic Data Points 4.4 Developing Therapeutics 2.0 40+ 2 Programs FY17A FY18A FY19A FY20A FY21A FY22E FY23E FY24E 1 8.9M consented customers
allows 23andMe to perform Genome-Wide Association Studies with over 10,000 cases on all diseases over 0.1% prevalence. 10 2 As of March 21, 2021. Programs include collaborated, 100% owned and royalty interest targets.
Consumer Powered Healthcare Flywheel We run hundreds of billions of
association tests per year that further our unique understanding of human biology Therapeutics / Product Consumer Research 11.3M Drug Genotyped Discoveries Customers Data Insights Novel 30K+ 80% Consumer Opt-In Daily Surveys Phenotypic Genetic to
Research Products Completed Data Data Innovative Results Return Value to the Customer 11Consumer Powered Healthcare Flywheel We run hundreds of billions of association tests per year that further our unique understanding of human biology
Therapeutics / Product Consumer Research 11.3M Drug Genotyped Discoveries Customers Data Insights Novel 30K+ 80% Consumer Opt-In Daily Surveys Phenotypic Genetic to Research Products Completed Data Data Innovative Results Return Value to the
Customer 11
Our Ancestry Service A Mass Entry Point to Building a Revolutionary
Database Visualize Genetic Connections With an Automatically Built Family Tree Ancestry Composition DNA Relatives 12 12 Note: Opt-in required for DNA Relatives and Family Tree builder.Our Ancestry Service A Mass Entry Point to Building a
Revolutionary Database Visualize Genetic Connections With an Automatically Built Family Tree Ancestry Composition DNA Relatives 12 12 Note: Opt-in required for DNA Relatives and Family Tree builder.
How Ancestry Matters In Connection To Your Health Current clinical
guidelines and eligibility for insurance coverage limit BRCA testing to women with a personal or family history of cancer (Robson, 2003) Adult individuals with a BRCA1 or BRCA2 variant 50% 50% Ann M. 23andMe Customer 1 Meet NCCN® criteria Do
not meet NCCN® criteria Ann did not know her ancestry origins and would not have been eligible for clinical testing under current guidelines. No first-degree family 20% 80% 45% Ann decided to do 23andMe to learn more history of a BRCA-related
about her potential health risks. Based on cancer her 23andMe report, she discovered she had a BRCA1 mutation. Did not self-report having 21% Jewish ancestry Identified by Missed by Her doctor confirmed the results and she healthcare system
healthcare system opted to have surgeries to reduce her risk of having ovarian and/or breast cancer. DTC Testing 13 1 NCCN is the National Comprehensive Cancer Network® (NCCN®). How Ancestry Matters In Connection To Your Health Current
clinical guidelines and eligibility for insurance coverage limit BRCA testing to women with a personal or family history of cancer (Robson, 2003) Adult individuals with a BRCA1 or BRCA2 variant 50% 50% Ann M. 23andMe Customer 1 Meet NCCN®
criteria Do not meet NCCN® criteria Ann did not know her ancestry origins and would not have been eligible for clinical testing under current guidelines. No first-degree family 20% 80% 45% Ann decided to do 23andMe to learn more history of a
BRCA-related about her potential health risks. Based on cancer her 23andMe report, she discovered she had a BRCA1 mutation. Did not self-report having 21% Jewish ancestry Identified by Missed by Her doctor confirmed the results and she healthcare
system healthcare system opted to have surgeries to reduce her risk of having ovarian and/or breast cancer. DTC Testing 13 1 NCCN is the National Comprehensive Cancer Network® (NCCN®).
Our Health Service 6 FDA The First and Only Multi-Disease DTC Genetic
Service That Includes FDA-Authorized Reports Authorizations and Provides Personalized Genetic Insights and Tools 1 Health Predispositions Wellness Carrier Status Pharmacogenetics 14 8 40+ 3 Including: Including: Including: Including: Type 2 Diabetes
(Powered by 23andMe Research) Muscle Composition Cystic Fibrosis SLCO1B1 Drug Transport Celiac Disease Genetic Weight Sickle Cell Anemia CYP2C19 Drug Metabolism Uterine Fibroids Alcohol Flush Reaction Familial Hyperinsulinism (ABCC8-Related) DPYD
Drug Metabolism Chronic Kidney Disease Saturated Fat and Weight Tay-Sachs Disease G6PD Deficiency Sleep Movement Glycogen Storage Disease (Type 1a) MUTYH-Associated Polyposis BRCA1/BRCA2 (selected variants) 14 1 Wellness information does not require
FDA Authorization.Our Health Service 6 FDA The First and Only Multi-Disease DTC Genetic Service That Includes FDA-Authorized Reports Authorizations and Provides Personalized Genetic Insights and Tools 1 Health Predispositions Wellness Carrier Status
Pharmacogenetics 14 8 40+ 3 Including: Including: Including: Including: Type 2 Diabetes (Powered by 23andMe Research) Muscle Composition Cystic Fibrosis SLCO1B1 Drug Transport Celiac Disease Genetic Weight Sickle Cell Anemia CYP2C19 Drug Metabolism
Uterine Fibroids Alcohol Flush Reaction Familial Hyperinsulinism (ABCC8-Related) DPYD Drug Metabolism Chronic Kidney Disease Saturated Fat and Weight Tay-Sachs Disease G6PD Deficiency Sleep Movement Glycogen Storage Disease (Type 1a)
MUTYH-Associated Polyposis BRCA1/BRCA2 (selected variants) 14 1 Wellness information does not require FDA Authorization.
A Meaningful, Engaging (and Fun) Experience Strong Engagement and Trust
Drive Longitudinal Data Collection 4B+ 80% 30K customers consent to research surveys phenotypic research completed daily data points 180+ 60% 7M published research genotyped customers pre-2015 customers papers logged-in logged-in during in 2020 2020
15A Meaningful, Engaging (and Fun) Experience Strong Engagement and Trust Drive Longitudinal Data Collection 4B+ 80% 30K customers consent to research surveys phenotypic research completed daily data points 180+ 60% 7M published research genotyped
customers pre-2015 customers papers logged-in logged-in during in 2020 2020 15
76% Report taking a positive 1 health action Eat healthier 55% Set future
goals 51% Genetic Data Helps to be healthier Adopt a healthier 50% Drive Behavior lifestyle in general Exercise more 45% Change Get more rest / 42% sleep Stop drinking / 16% drink less Stop smoking / 7% smoke less 16 1 Based on 2019 online survey,
designed by 23andMe and M/A/R/C Research, of 1,046 23andMe Health + Ancestry customers.76% Report taking a positive 1 health action Eat healthier 55% Set future goals 51% Genetic Data Helps to be healthier Adopt a healthier 50% Drive Behavior
lifestyle in general Exercise more 45% Change Get more rest / 42% sleep Stop drinking / 16% drink less Stop smoking / 7% smoke less 16 1 Based on 2019 online survey, designed by 23andMe and M/A/R/C Research, of 1,046 23andMe Health + Ancestry
customers.
Subscription is the Next Phase of Our D2C Journey Pharmacogenetics 3
reports (FDA-Authorized) Heart Health Reports Atrial Fibrillation, Coronary Artery Disease, LDL Cholesterol, Hypertension DNA Relatives Advanced filters, access up to 5,000 relatives Polygenic Risk Scores (Powered by 23andMe Research) Rapidly
discovering new genetic insights: Cancer risk Sleep Reproductive Health Fitness and injuries Diet Migraines 17Subscription is the Next Phase of Our D2C Journey Pharmacogenetics 3 reports (FDA-Authorized) Heart Health Reports Atrial Fibrillation,
Coronary Artery Disease, LDL Cholesterol, Hypertension DNA Relatives Advanced filters, access up to 5,000 relatives Polygenic Risk Scores (Powered by 23andMe Research) Rapidly discovering new genetic insights: Cancer risk Sleep Reproductive Health
Fitness and injuries Diet Migraines 17
Strong Early Demand From Customers for Subscription Product Soft Launch
October 2020 18Strong Early Demand From Customers for Subscription Product Soft Launch October 2020 18
Opportunity for Personalized Healthcare at Scale Practice of Medicine
Today Reactive – no customization until symptomatic Proactive – truly individualized from the very beginning 19Opportunity for Personalized Healthcare at Scale Practice of Medicine Today Reactive – no customization until
symptomatic Proactive – truly individualized from the very beginning 19
Genetics-Based Approach Will Transform the Continuum of Care Ge Gen ne eti
tic cs s- -Ba Bas se ed d Telehealth Pr Priim ma ar ry y C Ca ar re e Diagnostics Gen We etic lls n-e Ba sssed Testing PriRe mapor ry C tsare 70% Providers think Pharmacy / E- Medical genetic tests will Prescribing Records improve clinical 1
outcomes Genetics-Based Hospital Wearables Primary Care Connection 20 1 Health Affairs, “Views Of Primary Care Providers On Testing Patients For Genetic Risks For Common Chronic Diseases.” (2018). Genetics-Based Approach Will Transform
the Continuum of Care Ge Gen ne eti tic cs s- -Ba Bas se ed d Telehealth Pr Priim ma ar ry y C Ca ar re e Diagnostics Gen We etic lls n-e Ba sssed Testing PriRe mapor ry C tsare 70% Providers think Pharmacy / E- Medical genetic tests will
Prescribing Records improve clinical 1 outcomes Genetics-Based Hospital Wearables Primary Care Connection 20 1 Health Affairs, “Views Of Primary Care Providers On Testing Patients For Genetic Risks For Common Chronic Diseases.” (2018).
3 Transforming Therapeutic Development With the 23andMe Database3
Transforming Therapeutic Development With the 23andMe Database
Drug Development is Inefficient Limited Use of Data 7 ~90% and Lack of
Patient 2, 3 years average failure rate 1 time-to-IND Engagement Constrain Productivity $2.6B average cost of drug 3 development 1 IND = Investigational New Drug Application. fdareview.org, “The Drug Development and Approval Process”
(2020). 2 3 Probability of success for a drug to be approved is estimated to be <12%. PhRMA, “Biopharmaceutical Research & 21 Development: The Process Behind New Medicines” (2015). Drug Development is Inefficient Limited Use of
Data 7 ~90% and Lack of Patient 2, 3 years average failure rate 1 time-to-IND Engagement Constrain Productivity $2.6B average cost of drug 3 development 1 IND = Investigational New Drug Application. fdareview.org, “The Drug Development and
Approval Process” (2020). 2 3 Probability of success for a drug to be approved is estimated to be <12%. PhRMA, “Biopharmaceutical Research & 21 Development: The Process Behind New Medicines” (2015).
Pharmaceutical Industry 23andMe 7 ~4 23andMe Can years average years for
our 1 time-to-IND CD96 drug Efficiently Develop Novel Therapeutics Targets with genetic evidence have ~90% by Power, Need historically had 2 failure rate a higher 3 success rate and Speed NATURE GENETICS PUBLICATION The support of human genetic
evidence for approved drug indications Nelson et. al 2015 1 IND = Investigational New Drug Application. fdareview.org, “The Drug Development and Approval Process” (2020). 2 Probability of success for a drug to be approved is estimated to
be <12%. PhRMA, “Biopharmaceutical Research & Development: The Process Behind New Medicines” (2015). 3 22 Nature Genetics Publication, “The support of human genetic evidence for approved drug indications”
(2015).Pharmaceutical Industry 23andMe 7 ~4 23andMe Can years average years for our 1 time-to-IND CD96 drug Efficiently Develop Novel Therapeutics Targets with genetic evidence have ~90% by Power, Need historically had 2 failure rate a higher 3
success rate and Speed NATURE GENETICS PUBLICATION The support of human genetic evidence for approved drug indications Nelson et. al 2015 1 IND = Investigational New Drug Application. fdareview.org, “The Drug Development and Approval
Process” (2020). 2 Probability of success for a drug to be approved is estimated to be <12%. PhRMA, “Biopharmaceutical Research & Development: The Process Behind New Medicines” (2015). 3 22 Nature Genetics Publication,
“The support of human genetic evidence for approved drug indications” (2015).
Our Scale Enables Real-Time Genetics Health Research 1 1,100,000 750K
1,728,000 539,000 29,000 COVID-19 study Consumers participated High cholesterol Type 2 Diabetes Type 1 Diabetes participants in the COVID-19 study first 90 days in the (January 2021) 1,572,000 1,260,000 76,000 Depression APOE e4 carriers Epilepsy
(Alzheimer’s risk) COVID-19 Research 986,000 593,000 225,000 Asthma Atopic Dermatitis Psoriasis Kicked Off Study March 16 565,000 96,000 59,000 April 6 Launched Study Irritable Bowel UC / Crohn’s Barrett’s Esophagus Preliminary
Findings June 8 479,000 144,000 38,000 Arrhythmia Coronary Artery Pulmonary Embolism 2 Printed Findings Sept. 7 7,700 6,200 4,300 Systemic Sclerosis Sarcoidosis Idiopathic Pulmonary Fibrosis 1 2 23 As of January 2021. 23andMe COVID-19 manuscript
live on MedRXiv September 7, 2020.Our Scale Enables Real-Time Genetics Health Research 1 1,100,000 750K 1,728,000 539,000 29,000 COVID-19 study Consumers participated High cholesterol Type 2 Diabetes Type 1 Diabetes participants in the COVID-19
study first 90 days in the (January 2021) 1,572,000 1,260,000 76,000 Depression APOE e4 carriers Epilepsy (Alzheimer’s risk) COVID-19 Research 986,000 593,000 225,000 Asthma Atopic Dermatitis Psoriasis Kicked Off Study March 16 565,000 96,000
59,000 April 6 Launched Study Irritable Bowel UC / Crohn’s Barrett’s Esophagus Preliminary Findings June 8 479,000 144,000 38,000 Arrhythmia Coronary Artery Pulmonary Embolism 2 Printed Findings Sept. 7 7,700 6,200 4,300 Systemic
Sclerosis Sarcoidosis Idiopathic Pulmonary Fibrosis 1 2 23 As of January 2021. 23andMe COVID-19 manuscript live on MedRXiv September 7, 2020.
Cases Control s Genome-Wide SNP GGCCAGCTGGACGAGG Association Studies
GGCCAGCTGGATGAGG (GWAS) GWAS is a statistical analysis of Single Nucleotide Polymorphisms (SNPs), looking to identify differences in frequency between disease cases and controls. SNPs linked with disease will be found at different frequencies in
cases versus controls. Association is represented by the level of statistical significance (p-value) of the SNP frequency difference. SNPs can be tested across the genome and mapped to specific regions. 24Cases Control s Genome-Wide SNP
GGCCAGCTGGACGAGG Association Studies GGCCAGCTGGATGAGG (GWAS) GWAS is a statistical analysis of Single Nucleotide Polymorphisms (SNPs), looking to identify differences in frequency between disease cases and controls. SNPs linked with disease will be
found at different frequencies in cases versus controls. Association is represented by the level of statistical significance (p-value) of the SNP frequency difference. SNPs can be tested across the genome and mapped to specific regions.
24
Size and Scale Accelerate Target Discovery 1 1 Example: Number of
Osteoarthritis GWAS New programs are identified through GWAS hits, hits dramatically increase as database grows which increase as size of database grows 40,000 2016 35,000 30,000 25,000 2017 20,000 15,000 10,000 5,000 2019 0 2015 2016 2017 2018 2019
2020 25 1 Genome-Wide Association Study. Number of independent hits p<5e-8Size and Scale Accelerate Target Discovery 1 1 Example: Number of Osteoarthritis GWAS New programs are identified through GWAS hits, hits dramatically increase as database
grows which increase as size of database grows 40,000 2016 35,000 30,000 25,000 2017 20,000 15,000 10,000 5,000 2019 0 2015 2016 2017 2018 2019 2020 25 1 Genome-Wide Association Study. Number of independent hits p<5e-8
Hundreds of Distinct Clinical Phenotypes Across Major and Rare Diseases
Orthopedic Neurology Allergy Cancer G.I. Autoimmunity Cardiovascular Hematology Metabolic Disease Endocrine Ophthalmology Infectious Disease Phenotype Cases Controls Hits New Lost NAFLD (Non-Alcoholic Fatty Liver Disease) 48048 2517644 104 44 2
26Hundreds of Distinct Clinical Phenotypes Across Major and Rare Diseases Orthopedic Neurology Allergy Cancer G.I. Autoimmunity Cardiovascular Hematology Metabolic Disease Endocrine Ophthalmology Infectious Disease Phenotype Cases Controls Hits New
Lost NAFLD (Non-Alcoholic Fatty Liver Disease) 48048 2517644 104 44 2 26
Systematic, Scalable Research Platform Yields Novel Drug Targets
Phenotypic Data Genetic Data 23andMe’s database yields 10,000’s of Genome-Wide Association Study (GWAS) Hits thousands of GWAS hits Determine Disease Associated Genes and Directionality Researching to Understand Compelling Biology
Identifying Druggable Proteins Advanced biology and medicinal chemistry guide Phenome-Wide Association Studies (PheWAS) Reveal design of optimal compounds Additional Indications and Potential Safety Concerns from initial targets Assessment of Unmet
Need and Competitive Landscape Best Drug Targets Phenotypic breadth provides unique ability to uncover potential safety issues or Wet lab validated targets progress through standard stages of research possible indication expansions toward the
selection of preclinical lead molecules and clinical development 27Systematic, Scalable Research Platform Yields Novel Drug Targets Phenotypic Data Genetic Data 23andMe’s database yields 10,000’s of Genome-Wide Association Study (GWAS)
Hits thousands of GWAS hits Determine Disease Associated Genes and Directionality Researching to Understand Compelling Biology Identifying Druggable Proteins Advanced biology and medicinal chemistry guide Phenome-Wide Association Studies (PheWAS)
Reveal design of optimal compounds Additional Indications and Potential Safety Concerns from initial targets Assessment of Unmet Need and Competitive Landscape Best Drug Targets Phenotypic breadth provides unique ability to uncover potential safety
issues or Wet lab validated targets progress through standard stages of research possible indication expansions toward the selection of preclinical lead molecules and clinical development 27
Genetic Association of the TSLP Signalling Pathway With Asthma TSLP is a
well-known cytokine with a role in maintaining immune homeostasis and regulating inflammatory responses at mucosal barriers. TSLP TSLPR IL-7R! The TSLP signaling pathway is Cell membrane an attractive therapeutic target. e.g. Tezepelumab, a
TSLP-blocking monoclonal antibody for treatment of JAK2 JAK1 asthma. STAT5 Our genetic data shows that Proinflammatory signaling multiple genes within the TSLP pathway associate strongly with asthma. 28Genetic Association of the TSLP Signalling
Pathway With Asthma TSLP is a well-known cytokine with a role in maintaining immune homeostasis and regulating inflammatory responses at mucosal barriers. TSLP TSLPR IL-7R! The TSLP signaling pathway is Cell membrane an attractive therapeutic
target. e.g. Tezepelumab, a TSLP-blocking monoclonal antibody for treatment of JAK2 JAK1 asthma. STAT5 Our genetic data shows that Proinflammatory signaling multiple genes within the TSLP pathway associate strongly with asthma. 28
Breadth of Phenotyping Provides Asthma Deeper Genetic Understanding Beyond
Single Diseases PheWAS = Phenotype Wide Association Study Rare disease A Every SNP in the genome can be interrogated at >1,000 medically related phenotypes. Besides the role of a gene in a disease of interest, we can use genetics to learn
potential indication expansions or possible unwanted toxicities. For TSLP, PheWAS indicates lack of effect in eczema but also highlights potential indication expansion in a rare disease. 29Breadth of Phenotyping Provides Asthma Deeper Genetic
Understanding Beyond Single Diseases PheWAS = Phenotype Wide Association Study Rare disease A Every SNP in the genome can be interrogated at >1,000 medically related phenotypes. Besides the role of a gene in a disease of interest, we can use
genetics to learn potential indication expansions or possible unwanted toxicities. For TSLP, PheWAS indicates lack of effect in eczema but also highlights potential indication expansion in a rare disease. 29
Strategic Collaboration With 40+ $300M 50/50 Access to 1 equity shared
costs GSK technology and programs investment and profits platforms Inception-to-date targets discovered: “Our work with 23andMe is exceeding expectations and helping us advance a new way of thinking about drug discovery, one driven by genetics
and the DNA we inherit. The insights of why some people are protected from or are Oncology Immunology at greater risk for certain diseases can lead to genetically validated targets that are at least twice as successful in clinical trials.”
Cardiovascular Metabolic Disease Dr. Hal Barron, Chief Scientific Officer & President R&D, GSK (2021) Neurology 30 1 Including GSK unilateral programs.Strategic Collaboration With 40+ $300M 50/50 Access to 1 equity shared costs GSK
technology and programs investment and profits platforms Inception-to-date targets discovered: “Our work with 23andMe is exceeding expectations and helping us advance a new way of thinking about drug discovery, one driven by genetics and the
DNA we inherit. The insights of why some people are protected from or are Oncology Immunology at greater risk for certain diseases can lead to genetically validated targets that are at least twice as successful in clinical trials.”
Cardiovascular Metabolic Disease Dr. Hal Barron, Chief Scientific Officer & President R&D, GSK (2021) Neurology 30 1 Including GSK unilateral programs.
We Have Generated a Deep Pipeline Across Multiple Therapeutic Areas
Preclinical Phase 1 Phase 2 Phase 3 Next Milestone Phase 1 Data CD96 Immuno-oncology First Time in Human P006 EARLY-STAGE PROGRAMS Immuno-oncology 5 Cardiovascular/ Metabolic 6 Immunology 19 Neurology 9 Gynecology and Infectious Disease 2 31 Note:
As of March 21, 2021We Have Generated a Deep Pipeline Across Multiple Therapeutic Areas Preclinical Phase 1 Phase 2 Phase 3 Next Milestone Phase 1 Data CD96 Immuno-oncology First Time in Human P006 EARLY-STAGE PROGRAMS Immuno-oncology 5
Cardiovascular/ Metabolic 6 Immunology 19 Neurology 9 Gynecology and Infectious Disease 2 31 Note: As of March 21, 2021
Our Lead CD96 Program Was Identified With ML and AI Applied to Our
Proprietary I/O Genetic Signature CD96 pathway validated with ML and AI We discovered the signaling Large I/O market with over $41B applied to our proprietary I/O genetic pathway has a similar genetic expected in 2021 sales signature which also
identifies marketed I/O signature I/O drugs 2021 projected sales of leading I/O genetic signature shows opposing effects on CD96 plays an important role in regulating checkpoint inhibitors autoimmune and cancer phenotypes NK and T cell antitumor
activity KEYTRUDA $17.0B Autoimmune OPDIVO $7.9B YERVOY $1.8B Cancer GSK’608 (anti-CD96) is progressing through a Phase 1 multi-ascending dose trial in patients with advanced solid tumors 32 Source: Evaluate Pharma historical and forecast
estimates.Our Lead CD96 Program Was Identified With ML and AI Applied to Our Proprietary I/O Genetic Signature CD96 pathway validated with ML and AI We discovered the signaling Large I/O market with over $41B applied to our proprietary I/O genetic
pathway has a similar genetic expected in 2021 sales signature which also identifies marketed I/O signature I/O drugs 2021 projected sales of leading I/O genetic signature shows opposing effects on CD96 plays an important role in regulating
checkpoint inhibitors autoimmune and cancer phenotypes NK and T cell antitumor activity KEYTRUDA $17.0B Autoimmune OPDIVO $7.9B YERVOY $1.8B Cancer GSK’608 (anti-CD96) is progressing through a Phase 1 multi-ascending dose trial in patients
with advanced solid tumors 32 Source: Evaluate Pharma historical and forecast estimates.
Our 23andMe I/O Asset, P006, is a Potent Activator of Human T Cells
Suppressed by Tumor Antigen P006 pathway has a strong I/O P006 blocks tumor suppression signature unique to the of T cells and activates 23andMe database immune response P006 advancing to clinical trials Ligand Receptor Signaling P006 ligand is
strongly expressed in protein a subset of human tumors by end of FY2022 Immunohistochemistry for P006 ligand in Small Cell Lung Cancer 33 Immune Cancer Cancer ImmuneOur 23andMe I/O Asset, P006, is a Potent Activator of Human T Cells Suppressed by
Tumor Antigen P006 pathway has a strong I/O P006 blocks tumor suppression signature unique to the of T cells and activates 23andMe database immune response P006 advancing to clinical trials Ligand Receptor Signaling P006 ligand is strongly expressed
in protein a subset of human tumors by end of FY2022 Immunohistochemistry for P006 ligand in Small Cell Lung Cancer 33 Immune Cancer Cancer Immune
Cumulative Targets Through Validation 18 We Are Rapidly Scaling 9 Our
Therapeutics 5 Discovery Efforts March 31, 2019 March 31, 2020 December 31, 2020 34Cumulative Targets Through Validation 18 We Are Rapidly Scaling 9 Our Therapeutics 5 Discovery Efforts March 31, 2019 March 31, 2020 December 31, 2020 34
4 Financials4 Financials
Investing in Our Future 11.3 9.8 “Anyone trying to replicate the 7.8
23andMe model by focusing only on the data, and neglecting the central focus on empowered, engaged patients, 4.4 is likely to fail – and never understand why.” David Shaywitz 2.0 Forbes Magazine 1.3 0.9 FY15A FY16A FY17A FY18A FY19A
FY20A FY21A Cumulative Genotyped Customers in M Customer Acquisition Cost 35 Note: Fiscal year ends March 31.Investing in Our Future 11.3 9.8 “Anyone trying to replicate the 7.8 23andMe model by focusing only on the data, and neglecting the
central focus on empowered, engaged patients, 4.4 is likely to fail – and never understand why.” David Shaywitz 2.0 Forbes Magazine 1.3 0.9 FY15A FY16A FY17A FY18A FY19A FY20A FY21A Cumulative Genotyped Customers in M Customer
Acquisition Cost 35 Note: Fiscal year ends March 31.
Consumer and Research Services Investing in Our Future Profitable Growth
CRS Adjusted EBITDA $71 (in $M) $26 1 ($10) $5 - 15 Balancing Growth ($66) ($86) With Profitability in FY19A FY20A FY21E FY22E FY23E FY24E Consumer and 23andMe Financials (in $M, except for %) Research Services Revenue 1 $441 $305 $240 - $247 $256
$317 $400 Gross Margin 44% 45% 45% 51% 55% 58% Sales & Marketing Expense $191 $111 $44 $69 $76 $85 Note: Fiscal year ends March 31. 36 1 Updated as of May 5, 2021.Consumer and Research Services Investing in Our Future Profitable Growth CRS
Adjusted EBITDA $71 (in $M) $26 1 ($10) $5 - 15 Balancing Growth ($66) ($86) With Profitability in FY19A FY20A FY21E FY22E FY23E FY24E Consumer and 23andMe Financials (in $M, except for %) Research Services Revenue 1 $441 $305 $240 - $247 $256 $317
$400 Gross Margin 44% 45% 45% 51% 55% 58% Sales & Marketing Expense $191 $111 $44 $69 $76 $85 Note: Fiscal year ends March 31. 36 1 Updated as of May 5, 2021.
Drivers of Future Growth Consumer Opportunity Therapeutics ANNUAL KITS
SOLD CUMULATIVE SUBSCRIPTIONS CUMULATIVE TARGETS THROUGH (units in M) (in M) VALIDATION 2.9 2.5 2.1 1.7 1.6 1.6 18 0.7 9 5 0.1 FY21A FY22E FY23E FY24E FY21A FY22E FY23E FY24E March 31, March 31, December 31, 2019 2020 2020 37 Note: Fiscal year ends
March 31. Drivers of Future Growth Consumer Opportunity Therapeutics ANNUAL KITS SOLD CUMULATIVE SUBSCRIPTIONS CUMULATIVE TARGETS THROUGH (units in M) (in M) VALIDATION 2.9 2.5 2.1 1.7 1.6 1.6 18 0.7 9 5 0.1 FY21A FY22E FY23E FY24E FY21A FY22E FY23E
FY24E March 31, March 31, December 31, 2019 2020 2020 37 Note: Fiscal year ends March 31.
Revenue Composition Nine Months Ended Twelve Months Ended March 31,
December 31, 2020 FY2020 FY2019 Percentage of Percentage of Percentage of (in $M, except percentages) Amount Amount Amount Revenue Revenue Revenue Consumer Services $119 77% $272 89% $426 96% Research Services $36 23% $28 9% $12 3% Therapeutics $0
0% $6 2% $3 1% Total $155 100% $305 100% $441 100% 38Revenue Composition Nine Months Ended Twelve Months Ended March 31, December 31, 2020 FY2020 FY2019 Percentage of Percentage of Percentage of (in $M, except percentages) Amount Amount Amount
Revenue Revenue Revenue Consumer Services $119 77% $272 89% $426 96% Research Services $36 23% $28 9% $12 3% Therapeutics $0 0% $6 2% $3 1% Total $155 100% $305 100% $441 100% 38
Consumer Service Revenue Seasonality Nine Months Ended Nine Months Ended
Twelve Months Ended March 31, Twelve Months Ended March 31, December 31, December 31, 2020 FY2020 FY2019 2020 FY2020 FY2019 (in $M, except percentages) Amount Percentage of Year-to-Date Q1 ending June 30 $35 $66 $119 29% 24% 28% Q2 ending Sept 30
$41 $64 $81 34% 24% 19% Q3 ending Dec 31 $44 $57 $76 37% 21% 18% Q4 ending Mar 31 N/A $84 $149 N/A 31% 35% Year-to-Date $119 $272 $426 100% 100% 100% 39Consumer Service Revenue Seasonality Nine Months Ended Nine Months Ended Twelve Months Ended
March 31, Twelve Months Ended March 31, December 31, December 31, 2020 FY2020 FY2019 2020 FY2020 FY2019 (in $M, except percentages) Amount Percentage of Year-to-Date Q1 ending June 30 $35 $66 $119 29% 24% 28% Q2 ending Sept 30 $41 $64 $81 34% 24%
19% Q3 ending Dec 31 $44 $57 $76 37% 21% 18% Q4 ending Mar 31 N/A $84 $149 N/A 31% 35% Year-to-Date $119 $272 $426 100% 100% 100% 39
Research Services Revenue — GSK Component $300M Equity $27M Excess
$127M $100M Cash Consideration Investment $25M Research Services per year (x4) Revenue Allocated to transaction price Contract Months 1 - 12 13 - 24 25 - 36 37 - 48 GSK Option Period FY21 Fiscal Year FY19 FY20 FY22 FY23 (Current) 40Research Services
Revenue — GSK Component $300M Equity $27M Excess $127M $100M Cash Consideration Investment $25M Research Services per year (x4) Revenue Allocated to transaction price Contract Months 1 - 12 13 - 24 25 - 36 37 - 48 GSK Option Period FY21 Fiscal
Year FY19 FY20 FY22 FY23 (Current) 40
Research and Development Expense Composition Nine Months Ended Twelve
Months Ended December 31, 2020 March 31, 2020 Percentage of Percentage of (in $M, except percentages) Amount Amount Total R&D Expense Total R&D Expense Personnel-related expenses $63 55% $89 49% Lab-related research services $21 18% $40 22%
Facilities $15 13% $23 13% Depreciation, equipment and supplies $10 9% $14 8% Other $5 5% $15 8% Total $114 100% $181 100% 41Research and Development Expense Composition Nine Months Ended Twelve Months Ended December 31, 2020 March 31, 2020
Percentage of Percentage of (in $M, except percentages) Amount Amount Total R&D Expense Total R&D Expense Personnel-related expenses $63 55% $89 49% Lab-related research services $21 18% $40 22% Facilities $15 13% $23 13% Depreciation,
equipment and supplies $10 9% $14 8% Other $5 5% $15 8% Total $114 100% $181 100% 41
Sales and Marketing Expense Composition Nine Months Ended Twelve Months
Ended March 31, December 31, 2020 FY2020 FY2019 (in $M) Amount Amount Amount Advertising Expense $11 $72 $155 Personnel $11 $20 $20 Outside Services $5 $10 $10 Facilities and OH Allocation $4 $8 $6 Total $31 $111 $191 42Sales and Marketing Expense
Composition Nine Months Ended Twelve Months Ended March 31, December 31, 2020 FY2020 FY2019 (in $M) Amount Amount Amount Advertising Expense $11 $72 $155 Personnel $11 $20 $20 Outside Services $5 $10 $10 Facilities and OH Allocation $4 $8 $6 Total
$31 $111 $191 42
Adjusted EBITDA: Overall and by Segment Nine Months Ended Twelve Months
Ended March 31, December 31, 2020 FY2020 FY2019 (in $M) Amount Amount Amount Segment Adjusted EBITDA Consumer & Research Services ($5) ($66) ($86) Therapeutics ($39) ($53) ($32) Unallocated Corporate ($22) ($28) ($24) Total Adjusted EBITDA ($65)
($147) ($141) Reconciliation of Net Loss to Adjusted EBITDA Net Loss ($117) ($251) ($184) Adjustments: Interest (income), net ($0) ($6) ($5) Other (income), net ($1) ($1) $0 Depreciation and Amortization $16 $23 $10 Stock-based compensation expense
$37 $44 $37 Restructuring and other charges - $45 - Total Adjusted EBITDA ($65) ($147) ($141) 43 Note: Fiscal year ends March 31.Adjusted EBITDA: Overall and by Segment Nine Months Ended Twelve Months Ended March 31, December 31, 2020 FY2020 FY2019
(in $M) Amount Amount Amount Segment Adjusted EBITDA Consumer & Research Services ($5) ($66) ($86) Therapeutics ($39) ($53) ($32) Unallocated Corporate ($22) ($28) ($24) Total Adjusted EBITDA ($65) ($147) ($141) Reconciliation of Net Loss to
Adjusted EBITDA Net Loss ($117) ($251) ($184) Adjustments: Interest (income), net ($0) ($6) ($5) Other (income), net ($1) ($1) $0 Depreciation and Amortization $16 $23 $10 Stock-based compensation expense $37 $44 $37 Restructuring and other charges
- $45 - Total Adjusted EBITDA ($65) ($147) ($141) 43 Note: Fiscal year ends March 31.
Financial Summary FY19A FY20A FY21E FY22E FY23E FY24E in M Cumulative
Genotyped Customers 7.8 9.8 11.3 12.6 14.3 16.4 Cumulative Subscriptions - - 0.1 0.7 1.6 2.9 in $M 1 Revenue $441 $305 $240 - $247 $256 $317 $400 Gross Margin % 44% 45% 45% 51% 55% 58% Consumer & Research Services 1 ($86) ($66) $5 - $15 ($10)
$26 $71 Adjusted EBITDA Adjusted EBITDA ($141) ($147) ($106) ($134) ($109) ($78) Note: Fiscal year ends March 31. 1 Updated as of May 5, 2021. 44Financial Summary FY19A FY20A FY21E FY22E FY23E FY24E in M Cumulative Genotyped Customers 7.8 9.8 11.3
12.6 14.3 16.4 Cumulative Subscriptions - - 0.1 0.7 1.6 2.9 in $M 1 Revenue $441 $305 $240 - $247 $256 $317 $400 Gross Margin % 44% 45% 45% 51% 55% 58% Consumer & Research Services 1 ($86) ($66) $5 - $15 ($10) $26 $71 Adjusted EBITDA Adjusted
EBITDA ($141) ($147) ($106) ($134) ($109) ($78) Note: Fiscal year ends March 31. 1 Updated as of May 5, 2021. 44
Updated FY21 Financial Estimates Nine Months Ended FY21E FY21E FY20A
Previous Updated December 31, 2020 in $M Revenue $218 $240 - $247 $155 $305 Consumer & Research ($9) $5 - $15 ($5) ($66) Services Adjusted EBITDA Therapeutics Adjusted ($55) - ($65) N/A ($39) ($53) EBITDA Note: Updated as of May 5, 2021.Updated
FY21 Financial Estimates Nine Months Ended FY21E FY21E FY20A Previous Updated December 31, 2020 in $M Revenue $218 $240 - $247 $155 $305 Consumer & Research ($9) $5 - $15 ($5) ($66) Services Adjusted EBITDA Therapeutics Adjusted ($55) - ($65)
N/A ($39) ($53) EBITDA Note: Updated as of May 5, 2021.
Genetic Data Fuels Massive Market Opportunities U.S. Telehealth TAM 1
$250B Global Prescription Drug TAM 11M+ 2 $825B genotyped customers and growing Pharma R&D TAM 2 $190B 1 McKinsey, “Telehealth: a quarter-trillion-dollar post-Covid-19 reality?” (2020). 45 2 EvaluatePharma, “World Preview 2020,
Outlook to 2026” (2020).Genetic Data Fuels Massive Market Opportunities U.S. Telehealth TAM 1 $250B Global Prescription Drug TAM 11M+ 2 $825B genotyped customers and growing Pharma R&D TAM 2 $190B 1 McKinsey, “Telehealth: a
quarter-trillion-dollar post-Covid-19 reality?” (2020). 45 2 EvaluatePharma, “World Preview 2020, Outlook to 2026” (2020).
5 Q & A5 Q & A
Imputation Allows Us to Make the Vast Majority of GWAS Discoveries at a
Fraction of the Cost of Sequencing Genetic variants are correlated with each other. Knowing the alleles an individual carries at a given position in their genome allows alleles at nearby locations to be inferred. • This inference process is
known as ‘genotype imputation’. We type ~650,000 SNPs using our genotyping array, which Before allows accurate imputation for > 35m SNPs in the genome. imputation Genotype imputation is much more cost effective than whole-genome
sequencing. • Whole-genome sequencing ~$1000 / sample. Exome sequencing ~$400 / sample. Imputation < $0.01 / sample After imputation • We can impute variants down to ~0.5% frequency, which covers the range at which even large GWAS are
statistically powered. We do deploy sequencing in situations where there is a clear benefit over and above imputation. • E.g. Rare diseases, founder populations, non-European populations, complex regions of the genome, etc. 46Imputation Allows
Us to Make the Vast Majority of GWAS Discoveries at a Fraction of the Cost of Sequencing Genetic variants are correlated with each other. Knowing the alleles an individual carries at a given position in their genome allows alleles at nearby
locations to be inferred. • This inference process is known as ‘genotype imputation’. We type ~650,000 SNPs using our genotyping array, which Before allows accurate imputation for > 35m SNPs in the genome. imputation Genotype
imputation is much more cost effective than whole-genome sequencing. • Whole-genome sequencing ~$1000 / sample. Exome sequencing ~$400 / sample. Imputation < $0.01 / sample After imputation • We can impute variants down to ~0.5%
frequency, which covers the range at which even large GWAS are statistically powered. We do deploy sequencing in situations where there is a clear benefit over and above imputation. • E.g. Rare diseases, founder populations, non-European
populations, complex regions of the genome, etc. 46
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