Revolution Medicines Reports Third Quarter 2020 Financial Results and Update on Corporate Progress Recommended Phase 2 Dose and Schedule Selected for Further Evaluation of RMC-4630 as Monotherapy and RMC-4630 plus Cobime

Revolution Medicines Reports Third Quarter 2020 Financial Results and

Update on Corporate Progress

Recommended Phase 2 Dose and Schedule Selected for Further Evaluation of RMC-4630 as Monotherapy

and RMC-4630 plus Cobimetinib Combination

First-in-Class RAS(ON) Inhibitor Programs for Five Targets in

REDWOOD CITY, CA November 12, 2020 Revolution Medicines, Inc. (Nasdaq: RVMD), a

clinical-stage precision oncology company focused on developing targeted therapies to inhibit frontier targets in RAS-addicted cancers, today announced its financial results for the third quarter and nine

months ended September 30, 2020, and provided a corporate update.

Revolution Medicines is a leader in developing innovative medicines and

treatment strategies on behalf of patients with RAS-addicted tumors. We are advancing a growing portfolio consisting of both direct RAS(ON) Inhibitors and RAS Companion Inhibitors designed to enable

combination approaches, including RMC-4630 targeting SHP2, RMC-5552 targeting mTORC1, and inhibitors of SOS1, said Mark A. Goldsmith, M.D., Ph.D., chief executive

officer and chairman of Revolution Medicines.

In our RAS Companion Inhibitor portfolio, we continue to make important strides with RMC-4630, our clinical stage inhibitor of SHP2. We selected the recommended Phase 2 dose and schedule (RP2DS) for both our monotherapy trial

(RMC-4630-01) and the RMC-4630/cobimetinib (Cotellic ) combination arm

of the RMC-4630-02 clinical trial, and each trial will further evaluate the appropriate RP2DS in expansion cohorts of molecularly selected patients. As anticipated, we

recently dosed a first patient in a new combination study of RMC-4630 with the third-generation EGFR inhibitor, osimertinib (Tagrisso ). We also entered

into a new clinical collaboration with AstraZeneca to study RMC-4630 in combination with an emerging asset targeting KRASG12C from AstraZeneca s

In addition, we accelerated growth of our RAS(ON) Inhibitor platform, which has produced a collection of potent, cell-active inhibitors

of diverse oncogenic RAS variants responsible for the vast majority of RAS-addicted cancers. Previously, we demonstrated significant anti-tumor effects of a representative potent and oral inhibitor of

KRASG12C(ON). During the third quarter we confirmed the broad scope of our platform by demonstrating that representative KRASG12D(ON)

inhibitors likewise induced tumor regressions in a preclinical model of human pancreatic cancer harboring the oncogenic KRASG12D mutation. We have advanced our KRASG12C/NRASG12C(ON), KRASG12D(ON),

KRASG13C(ON) and KRASG12V(ON) inhibitor programs into lead optimization.

RAS Companion Inhibitors

Corporate Highlights

Upcoming Corporate Milestones

RAS Companion Inhibitors

Third Quarter 2020 Financial Highlights

Position: Cash, cash equivalents and marketable securities were $466.1 million as of September 30, 2020, compared to $122.8 million as of December 31, 2019. The increase was primarily due to proceeds from the

company s initial public offering in February 2020 and follow-on equity public offering in July 2020.

Revenue: Total revenue, consisting of revenue from the company s collaboration agreement with Sanofi, was $12.7 million for the quarter ended

September 30, 2020, compared to $12.5 million for the quarter ended September 30, 2019.

R&D Expenses: Research and development expenses were $34.9 million for the quarter ended

September 30, 2020, compared to $23.0 million for the quarter ended September 30, 2019. This increase was primarily due to an increase in research expenses associated with the company s

pre-clinical research portfolio, and an increase in personnel-related expenses related to additional headcount.

G&A Expenses: General and administrative expenses were $5.3 million for the quarter ended September 30, 2020, compared to

$3.1 million for the quarter ended September 30, 2019. This increase was primarily due to an increase in expenses associated with operating as a public company.

Net Loss: Net loss was $27.2 million for the quarter ended September 30, 2020, compared to net loss of $12.8 million for the

quarter ended September 30, 2019.

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 include compounds targeting KRASG12C/NRASG12C(ON), KRASG12D(ON),

KRASG13C(ON), KRASG12V(ON) and other RAS variants. RAS Companion Inhibitors include RMC-4630 targeting

SHP2, RMC-5552 targeting mTORC1, and inhibitors of SOS1.

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 the registered trademark of Genentech, Inc. (a member of the Roche Group).

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

and its ability to advance its portfolio and R&D pipeline; 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; the company s planned expansion cohorts for single-agent RMC-4630 and

RMC-4630 in combination with cobimetinib; the growth and scope of the company s RAS(ON) Inhibitor platform; the potential advantages and effectiveness of the company s preclinical candidates,

including its RAS(ON) Inhibitors; the company s plans to nominate development candidates from its family of RAS(ON) Inhibitors; the company s plans to release data related to its RAS Companion Inhibitors; the company s plan to advance

RMC-5552 to IND-ready status and to begin treating patients with RMC-5552 monotherapy.

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 November 12, 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)