- Invitae provides genetic testing and saw rapid growth in 2016, with sample volume tripling year-over-year to over 20,000 samples in Q4 2016. - Revenue nearly doubled year-over-year to $9.2 million in Q4 2016, and is expected to reach $55-65 million in 2017. Costs per sample decreased 43% in 2016 and continue to decrease. - Invitae expects to reach cash flow positive by the end of 2018 as volume increases further accelerate reductions in cash usage and drive the business towards profitability. The company exited 2016 with $97.3 million in cash to fund operations through 2018.

1. Q 4 & FULL YEAR 2016 CO NFERENCE CALL
INVITAE:
Genetics from downstream
to mainstream

2. © Invitae Corporation. All Rights Reserved. | CONFIDENTIAL | 2
Safe harbor statement
This presentation contains forward-looking statements within the meaning of the Private Securities Litigation
Reform Act of 1995, including statements relating to the company’s belief that it has the fastest growing market
share in the genetic testing industry; that it is on track to generate positive cash flow by the end of 2018; that it
can get the right diagnosis for more patients and connect them faster with its biopharma partners speeding up the
time to market for potential therapies; the company’s announced guidance and business objectives for 2017,
including plans to double volume, grow revenue, lower cost of goods sold, improve revenue per report,
commercially launch its medical exome by the end of the first quarter of 2017, secure additional biopharma
partnerships, and continue to expand its Genome Network to accelerate the understanding, diagnosis, and
treatment of hereditary disease through permission-based sharing of genetic and clinical information. Forward-
looking statements are subject to risks and uncertainties that could cause actual results to differ materially, and
reported results should not be considered as an indication of future performance. These risks and uncertainties
include, but are not limited to: the company’s history of losses; the company’s ability to compete; the company’s
failure to manage growth effectively; the company’s need to scale its infrastructure in advance of demand for its
tests and to increase demand for its tests; the company’s ability to develop and commercialize new tests and
expand into new markets; the risk that the company may not obtain or maintain sufficient levels of reimbursement
for its tests; the company’s inability to raise additional capital on acceptable terms; risks associated with the
company’s ability to use rapidly changing genetic data to interpret test results accurately, consistently, and
quickly; risks associated with the company’s limited experience with respect to acquisitions; security breaches,
loss of data and other disruptions; laws and regulations applicable to the company’s business; and the other risks
set forth in the company’s filings with the Securities and Exchange Commission, including the risks set forth in the
company’s Quarterly Report on Form 10-Q for the quarter ended September 30, 2016. These forward-looking
statements speak only as of the date hereof, and Invitae Corporation disclaims any obligation to update these
forward-looking statements.
NOTE: Invitae and the Invitae logo are trademarks of Invitae Corporation. All other trademarks and service marks
are the property of their respective owners.

3. © Invitae Corporation. All Rights Reserved. | CONFIDENTIAL | 3
Genetics from downstream to mainstream
§ Everyone has a unique genome that has
a significant impact on their health
§ There are more than 4,000 medically
relevant genetic tests today – most of
which are over-priced and under-utilized
§ High quality, low priced genetic testing
will dramatically increase the total market
to include everyone with access to
healthcare
§ Invitae is rapidly establishing itself as
one of the market leaders
E M E R G I N G A S A L E A D E R I N T H E D Y N A M I C G E N E T I C
I N F O R M AT I O N L A N D S C A P E

4. © Invitae Corporation. All Rights Reserved. | CONFIDENTIAL | 4
Key measures to cash flow positive
§ Volume of samples accessioned and reports delivered
§ Value of billable reports delivered
§ Revenue
§ Average revenue per report delivered assuming 90 days sales outstanding (DSO)
§ Average cost of goods per sample accessioned
§ Gross margin per report
§ Non-COGS related operating expenses
§ Cash

5. © Invitae Corporation. All Rights Reserved. | CONFIDENTIAL | 5
Q1:16
9,700
Q4:16
20,000
Q2:16
12,000
Q3:16
15,200
Continued rapidly growing volume
§ Accessioned over 20K samples
§ Roughly tripling volume year-over-year
§ 35 sales representatives in 2016,
now roughly double that number
§ Projecting 110–120K samples
accessioned in 2017
Accessioned volume

6. © Invitae Corporation. All Rights Reserved. | CONFIDENTIAL | 6
A significant business emerging
§ Q4 billable report value of $22.6M
Q1:16
11.8M
Q4:16
22.6M
Q2:16
11.7M
Q3:16
Value of billable reports
16.6M

7. © Invitae Corporation. All Rights Reserved. | CONFIDENTIAL | 7
Revenue will outpace sample volume growth
§ $9.2M in Q4 revenue
§ Nearly 200% year-over-year growth
§ 2016 annual revenue of $25M
§ Expect 2017 revenue from $55–65M
Revenue
Q1:16
4.0M
Q4:16
9.2M
Q2:16
5.6M
Q3:16
6.3M

8. © Invitae Corporation. All Rights Reserved. | CONFIDENTIAL | 8
Revenue per report trails contract operationalization
§ $600 revenue per report delivered at
90 DSO
§ Expected to increase as payer
contracts move into operation
§ Will vary from quarter to quarter,
will show consistent improvement
towards second half of the year Q2:16
Q3:16
Q4:16
$600
Q1:16
$567
$574
Revenue per report
$518

9. © Invitae Corporation. All Rights Reserved. | CONFIDENTIAL | 9
Continuing progress on lowering costs
§ Average cost per sample of ~$400
§ 43% improvement year-over-year
§ Expect to continue lowering COGS
throughout 2017
COGS per sample
Q1:16
$600
Q2:16
Q4:16
$400Q3:16
$450
$500

10. © Invitae Corporation. All Rights Reserved. | CONFIDENTIAL | 10
Volume now accelerates drive to positive cash flow
§ $47 average gross margin per report
00
genes
Q1:16
-$209
Q2:16
-$74
Q3:16
-$64
Gross margin positive
Q4:16
$47

11. © Invitae Corporation. All Rights Reserved. | CONFIDENTIAL | 11
Maintaining leverage from operating expenses
§ Q4 operating expenses of $26M
§ $6.7M in non-cash expenses, including
one-time $4.3M in performance equity
compensation
§ Non-COGS operating expenses declined
as compared to Q3 excluding a one-time
performance stock plan
Q1:16
$23.5M
Q2:16
$23.9M
Q3:16
$23.9M
Volume and OpEx
Q4:16
$26.0M
9,700
samples
20,000
samples
12,000
samples
15,200
samples

12. © Invitae Corporation. All Rights Reserved. | CONFIDENTIAL | 12
Healthy balance sheet, extending cash to end of 2018
§ Exited 2016 with $97.3M in cash
§ $76.3M cash used in operating expenses
in 2016 as compared to $80.7M in 2015
§ Accelerated reductions in cash usage
in back half of the year
§ Cash flow positive in 2018
Q1:16 Q2:16 Q3:16
Cash
Q4:16
0
Cash
($23.1M)
($18.5M) ($18.8M)
($21.2M)

13. Q&A:
General discussion