4DMEDICAL LIMITED — Capital/Financing Update 2021

Apr 5, 2021

Proposed issue of securities

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Update Summary

Entity name

4DMEDICAL LIMITED

Announcement Type

Update to previous announcement

Date of this announcement

Tuesday April 6, 2021

Reason for update to a previous announcement

Share Purchase Plan upsized to 6 million dollars from 3 million dollars

Refer to next page for full details of the announcement

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Part 1 - Entity and announcement details

1.1 Name of +Entity

4DMEDICAL LIMITED

We (the entity named above) give ASX the following information about a proposed issue of +securities and, if ASX agrees to +quote any of the +securities (including any rights) on a +deferred settlement basis, we agree to the matters set out in Appendix 3B of the ASX Listing Rules.

1.2 Registered Number Type

ABN

Registration Number

31161684831

1.3 ASX issuer code

4DX

1.4 The announcement is

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Update/amendment to previous announcement

1.4a Reason for update to a previous announcement

Share Purchase Plan upsized to 6 million dollars from 3 million dollars

1.4b Date of previous announcement(s) to this update

Thursday March 4, 2021

1.5 Date of this announcement

Tuesday April 6, 2021

1.6 The Proposed issue is:

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An offer of +securities under a +securities purchase plan A placement or other type of issue

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Part 4 - Details of proposed offer under securities purchase plan

Part 4A - Conditions

4A.1 - Are any of the following approvals required for the offer of +securities under the +securities purchase plan issue to be unconditional?

+Security holder approval Court approval Lodgement of court order with +ASIC ACCC approval FIRB approval Another approval/condition external to the entity

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No

Part 4B - Offer details

Class or classes of +securities that will participate in the proposed issue and class or classes of +securities proposed to be issued

ASX +security code and description

4DX : ORDINARY FULLY PAID

Will the proposed issue of this +security include an offer of attaching +securities? No

Details of +securities proposed to be issued

ASX +security code and description

4DX : ORDINARY FULLY PAID

Maximum total number of those +securities that could be issued if all offers under the +securities purchase plan are accepted 3,870,954

Will the offer be conditional on applications for a minimum number of +securities being received or a minimum amount being raised (i.e. a minimum subscription condition)? No

Will the offer be conditional on applications for a maximum number of +securities being received or a maximum amount being raised (i.e. a maximum subscription condition)? No

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Will individual security holders be required to accept the offer for
a minimum number or value of +securities (i.e. a minimum
acceptance condition)?
Yes
Is the minimum acceptance unit based or dollar based?
Dollar based ($)
Please enter the minimum acceptance value
$ 2,500
Will individual security holders be limited to accepting the offer
for a maximum number or value of +securities (i.e. a maximum
acceptance condition)?
Yes
Is the maximum acceptance unit based or dollar based?
Dollar based ($)
Please enter the maximum acceptance value
$ 30,000
Describe all the applicable parcels available for this offer in number of securities or dollar value The offer allows eligible shareholders to subscribe for one of the following parcels: $2,500, $5,000, $7,500, $10,000, $12,500, $15,000, $17,500, $20,000, $22,500, $25,000, $27,500, $30,000
Reason for the update of 'Maximum Number of +securities proposed to be issued' Share Purchase Plan upsized to 6 million dollars from 3 million dollars
Offer price details
Has the offer price been determined?
Yes
In what currency will the offer What is the offer price per
be made? +security?
AUD - Australian Dollar AUD 1.55000
Oversubscription & Scale back details
Will a scale back be applied if the offer is over-subscribed?
Yes
Describe the scale back arrangements The Company may in its absolute discretion undertake a scale back of applications for New Shares to the extent and in the manner it sees fit

Will these +securities rank equally in all respects from their issue date with the existing issued +securities in that class? Yes

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Part 4C - Timetable

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4C.1 Date of announcement of +security purchase plan

Thursday March 4, 2021

4C.2 +Record date

Wednesday March 3, 2021

4C.3 Date on which offer documents will be made available to investors

Monday March 15, 2021

4C.4 Offer open date

Monday March 15, 2021

4C.5 Offer closing date

Monday March 29, 2021

4C.6 Announcement of results

Wednesday March 31, 2021

4C.7 +Issue date

Wednesday April 7, 2021

Part 4D - Listing Rule requirements

4D.1 Does the offer under the +securities purchase plan meet all of the requirements of listing rule 7.2 exception 5 or do you have a waiver from those requirements? Yes

Part 4E - Fees and expenses

4E.1 Will there be a lead manager or broker to the proposed offer? No

4E.2 Is the proposed offer to be underwritten? No

4E.3 Will brokers who lodge acceptances or renunciations on behalf of eligible +security holders be paid a handling fee or commission? No

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4E.4 Details of any other material fees or costs to be incurred by the entity in connection with the proposed offer

• Part 4F - Further Information

4F.01 The purpose(s) for which the entity intends to use the cash raised by the proposed issue

Combined proceeds from the Placement and SPP will finance the Company's contribution to the development and commercialisation of XVD Scanners under Australian Lung Health Initiative's MRFF Frontiers project and flexibility to pursue growth opportunities

4F.1 Will the entity be changing its dividend/distribution policy if the proposed offer is successful? No

4F.2 Countries in which the entity has +security holders who will not be eligible to accept the proposed offer Any country other than Australia and New Zealand

4F.3 URL on the entity's website where investors can download information about the proposed offer https://investors.4dmedical.com/Investor-Centre/?page=announcements-and-media-releases

4F.4 Any other information the entity wishes to provide about the proposed offer

None

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Part 7 - Details of proposed placement or other issue

Part 7A - Conditions

7A.1 - Are any of the following approvals required for the placement or other type of issue? +Security holder approval Court approval Lodgement of court order with +ASIC ACCC approval FIRB approval Another approval/condition external to the entity No

Part 7B - Issue details

Is the proposed security a 'New Will the proposed issue of this class' (+securities in a class that is +security include an offer of not yet quoted or recorded by ASX) attaching +securities? or an 'Existing class' (additional No securities in a class that is already quoted or recorded by ASX)? Existing class

Details of +securities proposed to be issued

ASX +security code and description

4DX : ORDINARY FULLY PAID

Number of +securities proposed to be issued

25,806,436

Reason for the update of 'Maximum Number of +securities proposed to be issued' N/A

Offer price details

Are the +securities proposed to be issued being issued for a cash consideration? Yes

In what currency is the cash What is the issue price per consideration being paid? +security? AUD - Australian Dollar AUD 1.55000

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Will these +securities rank equally in all respects from their issue date with the existing issued +securities in that class? Yes

Part 7C - Timetable

7C.1 Proposed +issue date

Monday March 15, 2021

Part 7D - Listing Rule requirements

7D.1 Has the entity obtained, or is it obtaining, +security holder approval for the entire issue under listing rule 7.1? No

7D.1b Are any of the +securities proposed to be issued without +security holder approval using the entity's 15% placement capacity under listing rule 7.1? Yes

7D.1b ( i ) How many +securities are proposed to be issued without security holder approval using the entity's 15% placement capacity under listing rule 7.1?

25,806,436 ordinary shares

7D.1c Are any of the +securities proposed to be issued without +security holder approval using the entity's additional 10% placement capacity under listing rule 7.1A (if applicable)? No

7D.2 Is a party referred to in listing rule 10.11 participating in the proposed issue? No

7D.3 Will any of the +securities to be issued be +restricted securities for the purposes of the listing rules? No

7D.4 Will any of the +securities to be issued be subject to +voluntary escrow? No

Part 7E - Fees and expenses

7E.1 Will there be a lead manager or broker to the proposed issue? Yes

7E.1a Who is the lead manager/broker?

Bell Potter Securities Limited and E&P Corporate Advisory Pty Limited are Joint Lead Managers

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7E.1b What fee, commission or other consideration is payable to them for acting as lead manager/broker?

4.5% Management Fee plus 1.0% Incentive Fee to be paid at the sole and absolute discretion of the Company

7E.2 Is the proposed issue to be underwritten? No

7E.4 Details of any other material fees or costs to be incurred by the entity in connection with the proposed issue

Part 7F - Further Information

7F.01 The purpose(s) for which the entity is issuing the securities

Combined proceeds from the Placement and SPP will finance the Company's contribution to the development and commercialisation of XVD Scanners under Australian Lung Health Initiative's MRFF Frontiers project and flexibility to pursue growth opportunities

7F.1 Will the entity be changing its dividend/distribution policy if the proposed issue proceeds? No

7F.2 Any other information the entity wishes to provide about the proposed issue

None

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