ALCIDION GROUP LIMITED — Capital/Financing Update 2021

May 4, 2021

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5 May 2021

Completion of Share Purchase Plan

Melbourne, Victoria – Alcidion Group Limited (ASX:ALC) (“ the Company ”) is pleased to announce the successful completion of its Share Purchase Plan ( SPP ) which closed at 5.00pm (Melbourne time) on Friday 30 April 2021 ( Closing Date ). The SPP provided eligible shareholders the opportunity to participate in the capital raising following the successful completion of an institutional placement announced on 15 April 2021 ( Placement ).

The Company received very strong support from shareholders with over 1,900 applications totalling approximately $30 million, well in excess of the Company’s target of $2.5 million.

As a result of the oversubscription, the Company’s Board of Directors has decided, in accordance with the terms and conditions of the SPP, to increase the SPP’s offer size to $3.0 million, which will result in the issue of approximately 9.37 million new fully paid ordinary shares under the SPP at the issue price of $0.32 per share. All new shares issued under the SPP will rank equally with existing shares on issue.

In accordance with the terms and conditions of the SPP, the Company will conduct a scale-back of SPP applications, with:

• most applicants receiving a minimum basic entitlement of 3,125 SPP shares (worth $1,000 at issue price); and

• any remaining SPP shares after basic entitlements have been satisfied being allocated on a pro rata basis to those applicants receiving a basic entitlement, based on the size of the applicant’s shareholding at the record date.

Applicants who sold shares between the record date and the SPP close date, or who held less than a marketable parcel as at the record date (1,471 shares), will receive zero allocation (i.e. neither a basic entitlement nor a pro rata allocation).

Excess application funds resulting from the scale back, and any application funds received after the Closing will be returned to applicants by the Company’s registry as soon as possible. As announced to the market on Friday 30 April 2021, applicants may elect to receive any refund due via direct credit to an Australian bank account, rather than by the default cheque payment. Applicants who wish to receive any refund due to them via direct credit can add or update their bank account details by adding a New Payment Instruction at https://www.computershare.com.au/easyupdate/alc.

It is expected that the new shares will be issued and allotted on Tuesday 11 May 2021.

The combined funds raised under the Placement and the SPP total $18.4 million. Henslow Pty Ltd acted as Lead Manager to the Placement and SPP.

The Company’s CEO, Kate Quirke, said: “The Company would like to thank all shareholders who participated in the Share Purchase Plan and the Placement for their continued support. We acknowledge that shareholders who subscribed may be disappointed by the scale back. Ultimately, balancing the strong SPP participation with the foreseeable capital needs of the business is in the best interests of all shareholders."

Alcidion Group Limited | Level 10 9 Yarra Street SOUTH YARRA VIC 3141 |+61 3 8060 6177 | www.alcidion.com

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ENDS

For further information, please contact:

Kyahn Williamson

WE Communications Ph: +61 401 018 828 kwilliamson@we-worldwide.com

About Alcidion

Alcidion (ASX:ALC) has a simple purpose: to transform healthcare with smart, intuitive technology solutions that meet the needs of hospital and allied healthcare, worldwide. It offers a complementary set of software products and services that create a unique offering in the global healthcare market; solutions that support interoperability, allow communication and task management, and deliver clinical decision support at the point of care to improve patient outcomes. In 2017 Alcidion acquired Oncall System and its Smartpage clinical communication system. In 2018 it acquired the Patientrack bedside patient monitoring software and MKM Health, an IT solutions and services provider. These offerings now operate under the Alcidion brand. With over 25 years of combined healthcare experience, Alcidion brings together the very best in technology and market knowledge to deliver solutions that make healthcare better for everyone.

www.alcidion.com

© Alcidion Group Limited 2021. Alcidion, Miya Precision, Patientrack and Smartpage are registered trademarks. All other brands and product names and trademarks are the registered property of their respective companies.

This announcement is authorised for release by the Board of Directors of Alcidion Limited.

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