Revolution Medicines Reports Second Quarter Financial Results and Update on Corporate Progress Company Shows Continued Progress Demonstrating Differentiation of RAS(ON) Inhibitors, Targeting Additional RAS Variants and P

Revolution Medicines Reports Second Quarter Financial Results and Update on Corporate Progress

Company Shows Continued Progress Demonstrating Differentiation of RAS(ON) Inhibitors, Targeting Additional RAS Variants and Progressing

Assets Toward the Clinic

RMC-4630-02 Study Support Deprioritizing Certain Approaches and Focusing on Combinations of RMC-4630 with Direct RAS Inhibitors

New Amgen Clinical Collaboration and Supply Agreement for Planned Global Phase 2 Study, RMC-4630-03, Evaluating RMC-4630 in Combination with Lumakras

REDWOOD CITY, CA August 11, 2021 Revolution Medicines, Inc. (Nasdaq: RVMD), a clinical-stage precision oncology

company focused on developing targeted drugs to inhibit frontier targets that drive and sustain RAS-addicted cancers, today announced its financial results for the second quarter and six months ended

June 30, 2021, and provided a corporate update.

Treatment for RAS-addicted cancers reached an

important milestone in the second quarter with the first FDA approval of a targeted medicine for lung cancer carrying the KRASG12C mutation, Amgen s Lumakras , or sotorasib. Likewise, Revolution Medicines continued making excellent progress reinforcing our belief that our cohesive and innovative asset portfolio can lead to rational, mechanism-based

and beneficial combination treatments for patients. We have made the decision to deprioritize indirect combination treatment strategies represented in the RMC-4630-02

study while expanding evaluation of combination regimens with direct inhibitors of RAS proteins combined with our SHP2 inhibitor, RMC-4630. We are particularly gratified to conduct the RMC-4630-03 study under a clinical trial collaboration and supply agreement with Amgen through which we will evaluate the combination for potential additional benefit to lung

cancer patients with the KRASG12C tumor mutation. We also maintain strong momentum toward bringing our highly differentiated RAS(ON) Inhibitors to bear against a wide range of RAS-addicted cancers, said Mark A. Goldsmith, M.D., Ph.D., chief executive officer and chairman of Revolution Medicines.

Revolution Medicines continues to advance its first-in-class RAS(ON) Inhibitor platform, including an expansive collection of

tri-complex inhibitors targeting diverse oncogenic RAS variants through highly differentiated chemical and pharmacologic profiles.

RAS Companion Inhibitors Revolution Medicines continues to advance and

expand multiple clinical studies of its RAS Companion Inhibitors designed to provide maximum clinical benefit in RAS-addicted cancers.

Corporate Highlights

Second Quarter 2021 Financial Highlights

Cash Position: Cash, cash equivalents and marketable securities were $646.3 million as of June 30, 2021, compared to

$440.7 million as of December 31, 2020. The increase was primarily due to proceeds from the company s equity public offering in February 2021.

Revenue: Total revenue, consisting of revenue from the company s collaboration agreement with Sanofi, was $8.7 million for the quarter ended

June 30, 2021, compared to $10.0 million for the quarter ended June 30, 2020. The decrease was due to lower reimbursed research and development services for RMC-4630 resulting from lower

clinical trial costs.

R&D Expenses: Research and development expenses were $45.9 million for the quarter ended June 30, 2021,

compared to $32.9 million for the quarter ended June 30, 2020. The increase was primarily due to an increase in research expenses associated with the company s pre-clinical research portfolio,

an increase in personnel-related expenses related to additional headcount, and an increase in stock-based compensation.

G&A Expenses: General

and administrative expenses were $7.3 million for the quarter ended June 30, 2021, compared to $5.1 million for the quarter ended June 30, 2020. The increase was primarily due to stock-based compensation and personnel-related

expenses related to additional headcount.

Net Loss: Net loss was $44.3 million for the quarter ended June 30, 2021, compared to a

net loss of $27.2 million for the quarter ended June 30, 2020.

2021 Financial Guidance

Revolution Medicines continues to expect full year 2021 GAAP net loss to be between $170 million and $190 million, which includes estimated

non-cash stock-based compensation expense of approximately $20 million.

Revolution Medicines will host a conference call and webcast this afternoon, August 11, 2021, at 4:30 PM EDT (1:30 PM PDT).

To listen to the conference call, please dial (833) 423-0425 or (918)

922-3069, provide conference ID: 9829729 and request the Revolution Medicines conference call. To listen to the live webcast, or access the archived webcast, please visit: https://ir.revmed.com/events-and-presentations. Following the live webcast, a replay will be available on the Company s website for at least 14 days.

About Revolution Medicines, Inc.

Revolution Medicines is a clinical-stage precision oncology company focused on developing novel targeted therapies to inhibit high-value frontier targets in RAS-addicted cancers. 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.

pipeline comprises RAS(ON) Inhibitors designed to suppress diverse oncogenic variants of RAS proteins, and RAS Companion Inhibitors for use in combination treatment strategies. RAS(ON) Inhibitors in development include

RMC-6291, RMC-6236, and a pipeline of research compounds targeting additional RAS variants. RAS Companion Inhibitors in development include RMC-4630, RMC-5552, and RMC-5845.

Keytruda is a registered trademark of Merck

Sharp & Dohme Corp., a subsidiary of Merck & Co. Tagrisso is a registered trademark of the AstraZeneca group of companies. Cotellic is a registered trademark of Genentech, Inc. (a member of the Roche Group). Lumakras

is a trademark of Amgen, Inc.

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 the company s development plans and timelines and its ability to advance its portfolio

and R&D pipeline; the company s belief that its asset portfolio can lead to rational, mechanism-based and beneficial combination treatments for patients; dosing, expansion and enrollment in the company s clinical trials and the

tolerability and potential efficacy of the company s candidates being studied; the ability of the company s therapies to inhibit frontier targets in RAS-addicted cancers, including bringing its

RAS(ON) inhibitors to bear against RAS-addicted cancers; the company s plans to submit an IND for RMC-6291 and RMC-6236; the

company s plans to nominate a third development candidate from its RAS(ON) inhibitor portfolio; the selection of a combination dose for the CodeBreak 101c study; enrollment in and findings from the company s planned RMC-4630-03 study; the company s plans to study its RAS Companion Inhibitors, including RMC-4630 and RMC-5552, in combination with RAS inhibitors; the potential advantages and effectiveness of the company s preclinical candidates, including its RAS(ON) Inhibitors; the company s plans to release data

related to its RAS Companion Inhibitors, including RMC-5552, and the related timing; and the company s expected net loss and estimated stock-based compensation expenses for the year ending

December 31, 2021. 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 the company s 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, the company s

ability to successfully establish, protect and defend its intellectual property, other matters that could affect the sufficiency of the company s 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 August 11, 2021, 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.

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