ASCO 2017 WEBCAST Elacestrant (RAD1901) June, 4, 2017

Disclaimer: RAD1901 is an investigational agent NASDAQ: RDUS Please refer to the ASCO 2017 poster for complete details Safe Harbor

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| 2 3 Agenda

TOPIC PRESENTER Welcome Barbara Ryan, IR

Elacestrant Update Alison O’Neill, MD, VP, Oncolcgy Clinical Development Breast Cancer Treatment Landscape Gary Hattersley, PhD, Scientific Officer

Commercial Opportunity Robert Ward, President and CEO

Q&A

| 3 Elacestrant Update Maturing data presented at ASCO 2017 on the US Ph1 Dose Escalation & Expansion study

Data Presented at ASCO 2017

• Impressive single agent activity in heavily pre-treated ER+ breast cancer patients • Objective Response Rate (ORR) of 23% in patients with RECIST measurable disease at baseline • Clinical Benefit Rate (CBR) at 24 weeks of 42%* • Median Progression Free Survival (mPFS) of 4.5 months* • Responses documented in patients with prior fulvestrant therapy, prior CDK4/6i therapy and in patients with ESR1 mutations • 15 patients continue on treatment as of April 28, 2017

* In patient group with mature data for estimation (Parts A+B)

4 Evaluation of elacestrant (RAD1901), a novel oral investigational, selective estrogen receptor degrader (SERD), for the treatment of ER positive (ER+) advanced breast cancer (mBC)

Aditya Bardia1, Peter Kabos2, Richard Elledge3, Dannie Wang4, Jinshan Shen4, Fiona Garner4, Alison O'Neill4, Virginia G. Kaklamani3

1Massachusetts General Hospital Cancer Center and Harvard Medical School, Boston, MA; 2University of Colorado Denver, Greenwood Village, CO; 3CTRC, University of Texas Health Science Center San Antonio, San Antonio, TX; 4Radius Health Inc., Waltham, MA

5 Phase 1 dose escalation and expansion study design

• Study Objectives • Primary: define recommended Phase 2 dose • Secondary: safety and tolerability, pharmacokinetics (PK), preliminary anti-tumor effect, and evaluation of circulating tumor DNA (ctDNA; exploratory objective)

• Response evaluations performed every 8 weeks following RECIST v1.1 guidelines • Patient population ER+/HER2- postmenopausal women with mBC • ≤2 prior chemotherapies in the advanced or metastatic setting • No limit on number of prior endocrine therapies

6 Patient Demographics

Median of 3 prior systemic therapies ‒ 38% had previously received fulvestrant ‒ 40% had previously received CDK4/6 inhibitor therapy ‒ 30% had received >1 prior line of chemotherapy ‒ 50% were ESR1 mutant

7 Endocrine Endocrine combo) (in to 19%* (mono) from 2.1%* Range Agents ER+ (ORR) in Rates Response Objective for Breast Cancer Advanced *ORR is based on ITTon is based *ORR mTOR combo SERD combo combo SERD 2 2 2 3 nd nd nd rd line line line line

ORR 25% 0% (BELLE-3) (BELLE-3) Fulvestrant 2.1% (SOFEA, PALOMA-3) Fulvestrant 7-9%

monotherapy 8 Endocrine Endocrine combo) (in to 19%* (mono) from 2.1%* Range Agents ER+ (ORR) in Rates Response Objective for Breast Cancer Advanced *ORR is based on ITTon is based *ORR mTOR combo SERD combo combo SERD 2 2 2 3 nd nd nd rd line line line line

ORR 25% 0% (PALOMA-3) Fulvestrant +Palbociclib19% (BOLERO-2) + Everolimus Exemestane 9.5% (BELLE-3) (BELLE-3) Fulvestrant 2.1% (SOFEA, PALOMA-3) Fulvestrant 7-9%

monotherapy combinations 9 Elacestrant single agent ORR 23% in heavily pre-treated patients

• 22 patients had RECIST measurable disease • 5 confirmed partial responses • 9 patients with stable disease

• Confirmed responses observed in patients with prior fulvestrant, prior CDK4/6i therapy, and ESR1mut as well as wildtype

10 Endocrine Endocrine combo) (in to 67%* (mono) from 15.4%* Range Agents ER+ in (CBR) Rates Benefit Clinical for Breast Cancer Advanced *CBR is based on ITTon is based *CBR mTOR combo SERD combo combo SERD 2 2 2 3 nd nd nd rd line line line line

CBR 70% 0% (BELLE-3) (BELLE-3) Fulvestrant 15.4% (SOFEA, PALOMA-3) Fulvestrant 32-40%

monotherapy 11 11 Endocrine Endocrine combo) (in to 67%* (mono) from 15.4%* Range Agents ER+ in (CBR) Rates Benefit Clinical for Breast Cancer Advanced *CBR is based on ITTon is based *CBR mTOR combo SERD combo combo SERD 2 2 2 3 nd nd nd rd line line line line

CBR 70% 0% (PALOMA-3) Fulvestrant +Palbociclib67% (BOLERO-2) + Everolimus Exemestane 51.3% (BELLE-3) (BELLE-3) Fulvestrant 15.4% (SOFEA, PALOMA-3) Fulvestrant 32-40%

monotherapy combinations 12 Elacestrant single agent CBR at 24 weeks 42% in patient group with mature data set (Parts A+B)

Fulv = prior fulvestrant treatment; CDK4/6 = prior CDK4/6 inhibitor treatment; ESR1 = ESR1 mutation detected at baseline; RECIST = patients with RECIST measurable disease. Radius Health, Inc. PROPRIETARY Endocrine Endocrine from 1.8 Range Agents ( Free Survival Progression Median * mPFS is based on ITTon is based mTOR combo SERD combo combo SERD 2 2 2 3 nd nd nd rd line line line line

mo mPFS * (mono) to 9.5 * (mono) mPFS 10 0 mo ) in ) ER+ in for Breast Cancer Advanced

(BELLE-3) (BELLE-3) 1.8 (PALOMA-3, SOFEA ) 4.6-4.8 mo Fulvestrant mo Fulvestrant mo * (in combo) combo) * (in

monotherapy 14 Endocrine Endocrine from 1.8 Range Agents ( Free Survival Progression Median * mPFS is based on ITTon is based mTOR combo SERD combo combo SERD 2 2 2 3 nd nd nd rd line line line line

mo mPFS * (mono) to 9.5 * (mono) mPFS 10 0 mo ) in ) ER+ in for Breast Cancer Advanced

(PALOMA-3) 9.2 (BOLERO-2) 7.8 (BELLE-3) (BELLE-3) 1.8 (PALOMA-3, SOFEA ) 4.6-4.8 mo mo mo Fulvestrant +Palbociclib Exemestane + Everolimus Exemestane Fulvestrant mo Fulvestrant mo * (in combo) combo) * (in

monotherapy combinations Elacestrant single agent mPFS 4.5 months in patient group with mature data set (Parts A+B*)

*400 mg tablet data (Part C patients) is not mature for CBR or PFS estimates at this time **CBR at 24 weeks was calculated using the CBR population (ie. all 400mg patients in Part A+B who had at least 1 post baseline RECIST evaluation)

16 Most common (≥10%) treatment-related adverse events

• Elacestrant 400 mg administered orally on a continuous daily schedule was well tolerated • Longest 400mg treatment duration now exceeds 1 year • Predominantly G1 and G2 upper GI events (nausea, dyspepsia, vomiting) • Profile supportive of potential for combination with other agents

The two patients with G3 transaminase elevations had liver metastases; elevations were transient in one and associated with progressive disease in the liver in the second

Radius Health, Inc. PROPRIETARY 17 What is an IDEAL profile for a SERD ?

Targeted potent ER receptor degrader

Effective in treating resistant disease including ESR1 mutants

Safety profile that allows for drug combinations eg: SERD+ CDKi’s

PK profile that allows for once a day oral dosing

18 Elacestrant Demonstrates Complete ERa Degradation Comparison with Other Investigational SERDs

Human ER+ Breast Cancer Cell Line (MCF7) Cells were treated for 48 hours

RAD1901 (nM) AZD9496 (nM) RAD1901 (nM) GDC-0810 (nM) RAD1901 (nM) Bazedoxifene (nM)

V 0.1 1 10 100 1000 0.1 1 10 100 1000 V 0.1 1 10 100 1000 0.1 1 10 100 1000 V 0.1 1 10 100 1000 0.1 1 10 100 1000 ERα

Vinculin

Elacestrant has shown superior activity than comparator oral SERDs

19 Elacestrant Demonstrates Complete Tumor Growth Inhibition Comparison with Other Investigational SERDs

ESR1 Mutant Fulvestrant-Resistant Patient Derived Xenograft Model

2 5 0 0 F u lv e s tra n t C o n tr o l

2 0 0 0 G D C -0 8 1 0 ) 3 m m

( 1 5 0 0

e A Z D 9 4 9 6 m u l o V

r 1 0 0 0

PDX: ST941 o

Patient Rx history: Aromatase inhibitor m

ESR1: Y537S u T

5 0 0

Fulvestrant: 3mg/dose every week Comparable to current clinical E la c e s tra n t Elacestrant: 60mg/kg daily doses GDC-810: 100mg/kg daily Produces greatest efficacy in AZD9496: 5mg/kg daily models 0 0 1 0 2 0 3 0 4 0 5 0 6 0 D a y

Elacestrant has shown superior suppression of tumor growth compared to fulvestrant, AZD9496, and GDC0810

20 Potential Combination Targets for SERDs Targeted therapies may be combined with Elacestrant (RAD1901) to improve clinical outcomes

PI3K Inhibitors

Immuno- mTOR Oncology Inhibitors Agents

SERD CDK PARP Inhibitors Inhibitors

BCL2 HDAC Inhibitors Inhibitors

21 Elacestrant as a BEST in class SERD

Elacestrant demonstrates complete ER degradation ü

Elacestrant inhibits tumor growth in resistant models, including those that are ESR1 mutant ü

Elacestrant has a well tolerated safety profile ü

Elacestrant has a PK profile that supports once a day oral dosing ü

22 Elacestrant Update Maturing data presented at ASCO 2017 on the US Ph1 Dose Escalation & Expansion study

Data Presented at ASCO 2017

* In patient group with mature data for estimation (Parts A+B)

23 Endocrine therapies in second–line advanced breast cancer – phase III trials

Ther Adv Med Oncol 2015, Vol. 7(6) 304–320 24 Hormone Receptor Positive Breast Cancer and potential value of an ORAL SERD

Hormonal Therapies and Development of Endocrine Resistance

Adjuvant 1st Line 2nd Line 3rd Line

• Tamoxifen • Aromatase • Fulvestrant • Progestin • Aromatase Inhibitors • AI’s Inhibitors • Tamoxifen • Fulvestrant PFS* 9-13 mths 3-4 mths <3 mths

Endocrine Resistance Alterations of ER itself Up-regulation of alternative • “Loss” due to ESR1 silencing signal transduction pathways • Constitutional activation of ER due to ESR1 mutations/ fusion events

Source: MDACC (Hortobagyi, * S Johnston, SABCS 2016 plenary) 25 Hormonal agents have shown a consistent volume growth because of broad use, potentially extended duration of therapy and combo dosing SERD Unit Volume*

3,000,000 Unit Volume per Hormone Agent* 2,500,000 350,000,000 2,000,000 300,000,000 1,500,000 250,000,000 1,000,000 200,000,000 500,000 150,000,000

100,000,000 2011 2012 2013 2014 2015 2016

50,000,000

- Introduction of an Oral SERD will accelerate adoption 2011 2012 2013 2014 2015 2016 across all lines of treatment and in combination therapies

AI SERM SERD

* IMS: NSP (2011 – 2016)

26 Elacestrant Potential Opportunity in ER+ Breast Cancer

Patient estimates: US only Illustrative example

Adjuvant BC 140-150K pts

st 1 L Adv BC *Arimidex peak 35-40K patients sales $1.9B

2nd L Adv BC 30-35K patients *Current Faslodex (inj) $0.8B

Patientnumbers in sales Potential use of oral SERD 3rd L Adv BC either as mono 26-30K or all oral combo regimens

* Projected global sales 27 Highlights and Upcoming Milestones

FDA Approval of TYMLOS™ April 28, 2017 CHMP opinion on MAA for abaloparatide-SC in July 2017 Ex-US/ROW partnership for abaloparatide-SC by time of EU launch Report topline results for 24 month ACTIVExtend trial Q2’17 FDA meeting scheduled for Ph 2 study for elacestrant Q2’17 Initiate first in human trial for RAD140 in HR+ breast cancer in 2H’17

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