Sofwave Medical Ltd.

Quarterly Report • May 6, 2025

Q1 2025 Summary

May 2025

Sofwave - The Aesthetic Device Regeneration Company

This presentation (the "Presentation") is for informational purposes only and does not constitute or form any part of any offer or solicitation to buy or subscribe for securities of Sofwave Medical Ltd. (the "Company" or "Sofwave") and should not be regarded as a recommendation or an opinion on such matters. The information included in this Presentation is not comprehensive and does not include all the information with respect to the Company and its business required for any decision concerning an investment in the Company's securities. This Presentation includes forecasts, estimates, assessments, expectations and other information, intent or belief pertaining to future events and/or matters, which constitute "forward-looking statements" as defined in the Securities Law 5728-1968, which is based on current expectations, projections and assumptions about future events. Actual results may differ materially due to variety of factors, some of which the Company has no control over and cannot be reasonably foreseen at this date, including, but not limited to the risk factors which are inherent to the Company's activity, third party decisions, including regulatory authorities and engagements with third parties, as well as by developments in the economic environment and the external factors which impact the Company's activity, which cannot be assessed in advance and are out of the Company's control. Such information may not materialize, in whole or in part, or may materialize in a manner significantly different to that forecast. Therefore, actual future results, performances or achievements of the Company may differ materially from what is or may be expressed or implied in this Presentation. Certain information and factual statements (including markets or trends) contained herein are based on or derived from publicly available documents or independent third party sources the accuracy of such information and the assumptions on which such information is based have not been independently verified. The past performance information contained herein is not indicative of future results and there can be no assurance that the Company will achieve comparable results or that the Company will be able to implement its investment strategy or achieve any investment objective.

DISCLAIMER

Dr. Shimon Eckhouse, Co-Founder and Chairman

Lou Scafuri, CEO

Assaf Korner, CFO

Presenters:

Investor meeting May 2025

Q1 2025 in Numbers

\$7.0M Recurring Revenues +49% YoY Growth

~\$20.4M Cash As of Mar. 31, 2025 (inc. short term deposits)

\$16.7M Revenues +26% YoY Growth

Over 520,000(*) Treatments (inception to date)

Market Trends and Conditions

Global Uncertainties: Consumer confidence and capital purchases remain impacted by macroeconomic conditions

US Market: Core physicians more resilient; Medspa growth challenged by access to capital

Growing adoption of GLP-1 Agonists driving demand for lifting, laxity and toning treatments

Anticipate continued solid momentum despite uncertain market conditions:

• Geopolitical
• High Interest rates
• Tariffs

Rising demand for energy-based volumization treatments as filler usage declines. Natural appearance is "in"

Market Landscape & Macro Trends Q2 and Beyond: Boldly Looking Ahead

Q1 2025 Overview

Solid Q1 Results YoY – both in systems and pulse sales More high points than low points; Momentum continued- Strong finish >Brand Awareness & Pulse Sales Reached record-high levels. 520,000 treatments to date Product and ROI Positioning Superior to competitive offerings and our value proposition is emerging as best in class

Rising Market Demand Growth in tightening, lifting, and toning driven by the prevalence of GLP-1 agonists. Increased traction with Plastic Surgeons

Quarterly Performance – Key Highlights

Our execution has been solid Scalable, lean infrastructure in-place to support continued high growth and profitability

Why Sofwave is Taking Market Share

Competitive Advantage extends to Global Market

Sofwave Value Proposition: Proven Outcomes, Provider ROI, Patient Satisfaction

Patient-Centric Innovation: Natural results, inclusivity for all skin types, and aligned with emerging trends (e.g., weight-loss drug implications)

Strong ROI for Providers: High utilization rates, minimal downtime, and easy delegation

Superior Clinical Outcomes: Backed by patient satisfaction and efficacy data

Growth Strategy : 3 Strategic Pillars of Scaling Phase

Sofwave can be integrated into the majority of aesthetic providers practices

Market Expansion

Regulatory approvals, especially in key growth markets like Japan and China

Provider Success

Demonstrate clear ROI, scalability, and ease of integration into practices

Demand Generation

Increase patient awareness through accelerated social media and digital

efforts

Sofwave Expands APAC Presence with Japan PMDA Approval

Japan's PMDA approves Sofwave's SUPERB technology, enabling commercial sales starting in Q2 2025

• Japan is the #3 global market for non-surgical aesthetic procedures and ranks #3 in number of plastic surgeons (ISAPS 2023–2024)
• Regulatory approval unlocks a significant growth opportunity amid:
  • Aging populations- culturally important to Seeking Natural looking results
  • Surge in non-invasive procedure adoption- want no downtime-texture, tone, and lifting
  • Rising demand driven by GLP-1 weight loss drugs
• Backed by a robust go-to-market strategy: in-house sales, growing distribution, and multi-channel consumer marketing

PROVEN TECHNOLOGY

15+ CLINICAL STUDIES 600+ STUDIED SUBJECTS 520K+ TREATMENTS PERFORMED

Q1 2025 Sofwave's ROI and Proven Technology driving Competitive Advantage

Sofwave ROI Calculator Disclaimer

The ROI calculations presented herein are derived from Sofwave Medical Ltd.'s ROI Calculator tool and are based on actual performance data from existing Sofwave customers. These data points should not be interpreted as guarantees of identical outcomes for all customers or investors. Various factors, including clinic location, customer demographics, marketing strategies, and operational execution, can influence actual returns on investment. Please note that the data used for the ROI map excludes states with less than 2 systems installed and excludes initial installs occurring in Q4/24This information does not constitute an offer to sell or a solicitation of an offer to buy Sofwave securities.

Q1 2025: Marketing

Dramatically Increase Global Brand Awareness

Accelerate Brand Awareness on both B2C and B2B to drive procedure demand

• Launched new website in Q1
• Rollout structured Influencer campaign activities into key demographics and markets in US
• Collaborating with Japanese distributor partner for B2B and B2C market launch in Japan in Q2
• Launched Redline and WeChat in both NA and China

Rapidly Expanding Brand Awareness (Unpaid Endorsement)

"Kardashian Effect"

6.5% Engagement Rate

SOCIAL MEDIA GROWTH: Q1 2025 COMPARED TO Q1 2024

FOLLOWERS: 292,017	28 %
REACH: 1.06M	22 %
FOLLOWERS: 478,718	14 %
REACH: 847,236	27 %
SUBSCRIBERS: 98,032	16 %
VIDEO VIEWS: 9.2 M	23 %
FOLLOWERS: 132,832	18 %
VIDEO VIEWS: 674,291	24 %
FOLLOWERS: 10,742	27 %
REACH: 67,273	47 %

WECHAT: OFFICIALLY LAUNCHED IN APRIL

MAKING WAVES: SOFWAVE'S IMPACT ON THE GLOBAL AESTHETIC STAGE

Brand Awareness Momentum Continues Latest Post April 30th , 2025

-

• -
  -

Back to Basics: What Makes SUPERB Technology a Game Changer?

Dr. Shimon Eckhouse

From our IPO Presentation: The "Wonder Zipper" The Challenge

The clinical impact of aging

SUPERB : The "Wonder Zipper"

Courtesy of Suzan Kilmer MD

SUPERB : The "Wonder Zipper"

SUPERB Technology Compared to Superficial HIFU and RF Microneedling

Thermal injury in the dermis SUPERB X7 Thermal injury in the dermis SUPERB X7

Thermal injury in the dermis Superficial HIFU X25

Thermal injury in the dermis Superficial RF Microneedling X44

SUPERB Technology Compared to Superficial HIFU and RF Microneedling

	SofWave	Microneedling	Superficial HIFU	Fractional Ablative Lasers
Energy injected/application (J)	25.2	4.81	4.5	1.8
Dermis volume heated to 60-700 C (mm3 )	22	1.26	0.88	~2
Time exposure to T>650 C (msec)	1,100	65	188	<100
Skin Cooling	YES	NO	NO	NO
Real time skin Temperature control	YES	NO	NO	NO
Down time days	0	3 to 7	0	3 to 7

SUPERB On The Body – Thermal Injury Volume is a Critical Parameter

Courtesy of Lehavit Akerman MD Courtesy of Skin Deep Medspa

Financial Highlights

• Continued strong YoY revenue increase with +26% in Q1.25 vs. Q1.24
• Q1/25 Pulse revenues increased to \$7.0M (49% YoY)

Q1 Revenue Growth (\$'m)

Annual Growth (\$'m)

Revenue Growth

| 25

Quarterly Revenue Growth

Quarterly Revenue Growth YoY (\$m)

Q1 2025 Geographical Split

Non-IFRS Quarterly Operating Loss/Income (\$M)

Non-IFRS excluding Stock Based Compensation and onetime litigation expenses

GM% continues to improve together with the growth in pulse sales

Operating loss improved by 55% on a Non-IFRS basis to (\$0.2M)

Financial Highlights Q1 2025 – P&L (\$'K)

	For the 3 months ended March 31,			Stock Based Compensation		Excluding Stock Based Compensation
	2025	2024	2025	2024	2025	2024
Revenues	16,671	13,184		-	16,671	13,184
COGS	3,949	3,270	8	21	3,941	3,249
Gross Profit	12,722	9,914	8	21	12,730	9,935
	76.3%	75.2%			76.4%	75.4%
R&D expenses	3,089	2,648	165	148	2,924	2,500
S&M expenses	8,811	6,529	374	73	8,437	6,456
G&A expenses	1,778	1,694	210	270	1,568	1,424
Operating loss	(956)	(957)	757	512	(199)	(445)

	Mar. 31, 2025	Dec. 31, 2024
Cash and Cash Equivalents (*)	19,879	21,616
Short Term Deposit	520	-
Trade Receivables	8,749	8,668
Other Receivables	2,381	2,641
Inventory	6,307	5,880
Total Current Assets	37,836	38,805
Total Non-Current Assets	4,219	4,224
Total Assets	42,055	43,029
Total current liabilities	16,800	17,502
Total non-current liabilities	964	1,001
Shareholders' equity	24,291	24,526
Total liabilities and shareholders' equity	42,055	43,029

Financial Highlights – BS (\$'K)

Strong cash position with \$20.4M(*) as of March 31, 2025

\$1.2M cash used in Q1/25, including onetime payment of \$0.9M related to a trademark litigation, vs. \$1.3M used in Q1/24

(*) including \$520K short term bank deposit

Investment Highlights

• Sofwave is delivering the next-generation patented energy based non-invasive aesthetic skin treatments disrupting an industry with outdated solutions
• Rapid industry adoption achieving +26% in Q1/25, scalable, lean infrastructure in-place to support continued high growth and profitability
• Broad range of FDA clearances for lifting, laxity and wrinkle treatment on face and neck, cellulite, acne scars, arm laxity and muscle toning
• Significant recurring revenue; over 40% of total revenue; over 520,000 treatments completed

Significant brand awareness growing social media following to over 1,000,000 followers