Revolution Medicines Reports First Quarter 2020 Financial Results and Continued Corporate Progress Closed Initial Public Offering Raising Gross Proceeds of $273.7 Million Presented First Evidence of Clinical Activity of

Revolution Medicines Reports First Quarter 2020 Financial Results and Continued Corporate Progress

Closed Initial Public Offering Raising Gross Proceeds of $273.7 Million

Presented First Evidence of Clinical Activity of SHP2 Inhibitor (RMC-4630) Against KRAS Mutant Lung

Preclinical Programs Continue to Advance in Support of Monotherapy and Combination Therapy Strategies for RAS Tumors

REDWOOD CITY, CA May 14, 2020 Revolution Medicines, Inc. (Nasdaq: RVMD), a clinical-stage oncology company

focused on developing targeted therapies to inhibit frontier cancer targets, today announced its financial results for the first quarter ended March 31, 2020, and provided an update on its R&D pipeline and other corporate developments.

Highlights from the Quarter Ended March 31, 2020

Revolution Medicines achieved important scientific, clinical and operational milestones during this quarter, said Mark A. Goldsmith, M.D., Ph.D.,

president, chief executive officer and chairman of Revolution Medicines. In January, we presented initial data from our ongoing Phase 1 monotherapy trial evaluating our investigational new drug designed to inhibit SHP2, RMC-4630, in patients with KRAS mutant non-small cell lung cancer (NSCLC) at the AACR-IASLC International Joint Conference. The findings represent the first reported evidence

of clinical activity against KRAS mutant lung cancers by a SHP2 inhibitor, as well as initial evidence of the potential benefit of an intermittent dosing schedule. Our ongoing Phase 1/2 clinical program evaluating

RMC-4630 in a range of tumor types continues to advance and enrollment has been in line with our expectations. We also continued to make progress across our broad preclinical pipeline that supports our

strategy to target multiple nodes in the oncogenic RAS pathway and bring forward potential monotherapies and combination treatment regimens. During the period, the company also completed a successful IPO, raising gross proceeds of more than

$273 million. Revolution Medicines strong balance sheet will support continued development of our promising pipeline on behalf of cancer patients.

We acknowledge the severe health and economic impact of the COVID-19 pandemic we are all experiencing and the

burden it has placed on our healthcare system and the clinical trial landscape. Early on, Revolution Medicines made appropriate adjustments to our operating approach, and we ve continued to make progress on both our preclinical and clinical

programs. At present, we do not expect material delays in our ongoing clinical trials, but it is reasonable to anticipate that for planned future studies some site initiations may be delayed, and enrollment may be slowed for some period of time. We

are continuing to refine our approach as needed to minimize these impacts.

Scientific and Clinical Highlights

Corporate Highlights

The company expects to use the net proceeds from this offering to fund the development of its multiple RAS inhibitor programs, including the

RAS(ON) portfolio, SOS1 inhibitor program, and 4EBP1/mTORC1 program, and other general corporate purposes, which may include the hiring of additional personnel, capital expenditures and the costs of operating as a public company.

Q1 2020 Financial Highlights

Cash Position: Cash, cash equivalents and marketable securities were $347.9 million as of March 31, 2020, compared to $122.8 million as

of December 31, 2019. The increase was primarily due to proceeds from the IPO in February 2020.

Revenue: Total revenue, consisting of revenue

from our collaboration agreement with Sanofi, was $11.5 million for the quarter ended March 31, 2020, compared to $13.2 million for the quarter ended March 31, 2019. This decrease was primarily due to lower reimbursed research

and development services in the quarter ended March 31, 2020 resulting from lower manufacturing costs. During the quarter ended March 31, 2019, we incurred upfront manufacturing costs related to the supply of

RMC-4630 for our clinical trials.

R&D Expenses: Research and development expenses were

$27.5 million for the quarter ended March 31, 2020, compared to $21.2 million for the quarter ended March 31, 2019. This increase was primarily due to an increase in research expenses associated with our RAS inhibitor programs.

G&A Expenses: General and administrative expenses were $5.2 million for the quarter ended March 31, 2020, compared to

$2.4 million for the quarter ended March 31, 2019. This increase was primarily due to an increase in expenses associated with transitioning to and becoming a public company.

Net Loss: Net loss was $19.5 million for the quarter ended March 31, 2020, compared to net loss of $10.1 million for the quarter

ended March 31, 2019.

About Revolution Medicines, Inc.

Revolution Medicines is a clinical-stage oncology company focused on developing novel targeted therapies to inhibit elusive high-value frontier cancer targets

within notorious growth and survival pathways, with particular emphasis on RAS and mTOR signaling pathways. The company possesses sophisticated structure-based drug discovery capabilities built upon deep chemical biology and cancer pharmacology know-how and innovative, proprietary technologies that enable the creation of small molecules tailored to unconventional binding sites.

The company s pipeline includes RMC-4630, a clinical-stage drug candidate, partnered with Sanofi, that is

designed to selectively inhibit the activity of SHP2. Additionally, the company is developing a broad portfolio of inhibitors of other key frontier oncology targets within the notorious RAS pathway, as well as the related mTOR signaling cascade.

These include inhibitors of multiple mutant RAS proteins and SOS1, as well as RMC-5552, a development candidate within the company s 4EBP1/mTORC1 program currently in

IND-enabling studies.

Tagrisso is a registered trademark of the AstraZeneca group of companies.

Forward Looking Statements

This press release contains forward-looking statements within the meaning of the U.S. Private Securities Litigation Reform Act of 1995. Any statements in

this press release that are not historical facts may be considered forward-looking statements, including without limitation statements regarding Revolution Medicines development plans and timelines, Revolution Medicines

planned clinical data update in 2020, Revolution Medicines plans to initiate clinical trials evaluating RMC-4630 in combination with (i) AMG 510, (ii) osimertinib and (iii) a PD-1 inhibitor, Revolution Medicines plan to nominate a development candidate from its RAS(ON) inhibitor program and Revolution Medicines plan to be IND-ready with

RMC-5552 in 2020. Forward-looking statements are typically, but not always, identified by the use of words such as may, will, would, believe, intend,

plan, anticipate, estimate, expect, and other similar terminology indicating future results. Such forward-looking statements are subject to substantial risks and uncertainties that could cause our

development programs, future results, performance or achievements to differ materially from those anticipated in the forward-looking statements. Such risks and uncertainties include without limitation risks and uncertainties inherent in the drug

development process, including Revolution Medicines programs early stage of development, the process of designing and conducting preclinical and clinical trials, the regulatory approval processes, the timing of regulatory filings, the

challenges associated with manufacturing drug products, Revolution Medicines ability to successfully establish, protect and defend its intellectual property, other matters that could affect the sufficiency of Revolution Medicines capital

resources to fund operations, reliance on third parties for manufacturing and development efforts, changes in the competitive landscape and the effects on our business of the worldwide COVID-19 pandemic. For a

further description of the risks and uncertainties that could cause actual results to differ from those anticipated in these forward-looking statements, as well as risks relating to the business of Revolution Medicines in general, see Revolution

Medicines Quarterly Report on Form 10-Q filed with the Securities and Exchange Commission on May 14, 2020, and its future periodic reports to be filed with the Securities and Exchange Commission.

Except as required by law, Revolution Medicines undertakes no obligation to update any forward-looking statements to reflect new information, events or circumstances, or to reflect the occurrence of unanticipated events.

Vida Strategic Partners

Vida Strategic Partners

REVOLUTION MEDICINES, INC.

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS

(in thousands, except share and per share data)

REVOLUTION MEDICINES, INC.

SELECTED CONDENSED CONSOLIDATED BALANCE SHEETS

(in thousands, unaudited)