ALCIDION GROUP LIMITED — M&A Activity 2026

May 17, 2026

ALCIDION

18 May 2026

Australian Securities Exchange
20 Bridge Street
Sydney NSW 2000

Acquisition of the Kyra flow products, from Telstra Health

Melbourne, Victoria | Alcidion Group Limited (ASX:ALC) ('Alcidion' or the 'Company') is pleased to announce it has signed an Asset Sale Agreement (ASA) to acquire the business and assets of Kyra Patient Flow Manager, Kyra Queue Manager and Kyra IQ (collectively, the 'Kyra flow products') from Telstra Health.

This acquisition further strengthens Alcidion's position as a leading provider of enterprise patient flow solutions across Australia, New Zealand and the UK, and is aligned with the Company's strategy to drive sustainable, high-margin, recurring revenue growth.

Investors are invited to join a live webcast and Q&A hosted by Group Managing Director and CEO, Kate Quirke on Monday, 18 May 2026 at 11:30am Australian Eastern Standard Time (AEST).

To register for webcast: https://us02web.zoom.us/webinar/register/WN_FLQw8w9SR9KI0edRAohAFg

Highlights:

• The Kyra flow products are a proprietary suite of digital solutions that address patient flow and data access challenges across hospital inpatient and outpatient settings
• Expands Alcidion's presence across Australia, notably into Queensland where Kyra Patient Flow Manager and Queue Manager Products are used by the majority of Hospital & Health Services, and adds several new customers in Victoria, WA and Tasmania, across both public and private sectors
• Approximately 33 long-standing customers, with the top 10 customers having an average relationship of 10 years, demonstrating the critical and embedded nature of the Kyra flow products; only two of these are existing Alcidion customers, providing a meaningful opportunity to broaden Alcidion's footprint
• FY26 forecast revenue of $3.7M, with more than 90% related to recurring product revenue and underlying EBITDA of approximately $1.1M
• Upfront cash purchase price of $3.0M with additional earn-out of up to $1.0M, subject to achieving future recurring revenue thresholds. Implies upfront underlying FY26 EBITDA multiple of 2.7x
• The acquisition is expected to be earnings accretive from completion (anticipated end June 2026), reflecting Kyra flow products' attractive recurring revenue and margin profile

Alcidion CEO and Managing Director, Kate Quirke said:

"This acquisition is highly complementary to our core business and further consolidates our market position in the Australian patient flow market. There is strong strategic and financial alignment as we continue to build a scaled, recurring revenue-driven health technology company."

"We look forward to building on Telstra Health's long-standing customer relationships and believe Alcidion, as an international leader in patient flow, is one of the few industry players with the infrastructure, credibility and expertise to continue delivering the level of support that enterprise government and private health service customers expect."

Alcidion Group Limited | Level 10 9 Yarra Street SOUTH YARRA VIC 3141 | ABN 77 143 142 410
T 1800 767 873 | W www.alcidion.com | E info@alcidion.com

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"Patient flow continues to be a critical pain point across the healthcare setting with an aging population and increasing rates of hospital admission expected to only further compound the need for validated enterprise digital solutions that both simplify decision support and also remove administrative burden."

"Alcidion looks forward to welcoming the Kyra customers to our community and to providing continued, excellent service alongside an opportunity to share what Alcidion can offer them as they look to evolve the value they receive from their digital investments for patients and staff."

"We also look forward to maintaining a relationship with Telstra Health, to leverage the complimentary nature of our respective product suites."

Telstra Health Managing Director, Elizabeth Koff AM added:

"Telstra Health is building a care intelligence ecosystem, one that connects care, patients and clinicians across the care continuum."

To support that, we're making clear choices about where we focus, where we invest, and where we partner.

Telstra Health's Kyra Flow products are a strong set of hospital patient flow and operational solutions; however, they do not align with our future roadmap for connecting care. Choosing the right owner for this product suite to continue to support hospital care was critical and required careful consideration. Alcidion fulfilled the criteria comprehensively.

Alcidion brings strong capability, deep industry expertise and a proven track record supporting hospitals. We are confident they are well placed to continue to evolve these products for customers.

For Telstra Health, our new care intelligence ecosystem will serve, connect and enable clinicians and care providers from primary, community and aged care, to hospitals and government services - across every health journey.

Our priority is to ensure a smooth transition for the Kyra Flow products to Alcidion, with continuity of service and support for customers and their teams."

About Kyra Flow Products

The Kyra flow products include three complementary inpatient and outpatient hospital focused patient flow solutions:

• Kyra Patient Flow Manager – provides clinicians and administrative teams real-time access and oversight of a patient's hospital journey from admission through to discharge. Enables proactive decision making to streamline bed management and internal resourcing
• Kyra Queue Manager – comprehensive outpatient solution enabling patient check-ins, wayfinding, referral management, triage and billing capability
• Kyra IQ – data warehouse that consolidates health data from multiple disparate systems into real-time operational dashboards and administrative reports

Strategic Rationale

Customer Expansion

• The Kyra flow products business has customers in five of six Australian states with a significant presence across the Queensland market, a strategically important market noting Alcidion's recent 5-year contract with Gold Coast Health (also a Kyra flow products customer)
• Adds several new customers in Victoria – both public and private – building upon Alcidion's patient flow presence at Hume, Peninsula Health, Western Health and Alfred, among others
• Existing relationships with only 2 of Kyra flow products' 33 customers, thereby materially increasing Alcidion's footprint across Australia and creating future opportunities for product and capability advancement

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Long-standing Customer Base

• Driven by the critical and embedded nature of the Kyra flow products solution, the average Top 10 customer relationship is approximately 10 years
• Customer contract terms range from 1 to 3 years with the majority on rolling annual contracts

Leader in Patient Flow capability

• Expands Alcidion's leading position in the patient flow market in ANZ and the UK and strengthens the position as a provider of a modern platform approach that increases value from investments in digital health infrastructure, creating greater insights and improved engagement in the use of data
• Deep industry and specialist product knowledge with the technology to ensure a seamless customer transition process over time

Attractive Financial Profile

• FY26F (June Y/E) revenue of $3.7M and underlying EBITDA of $1.1M, broadly consistent with FY25 financial performance
• 90%+ of revenue generated from recurring support and maintenance contracts with strong corresponding cashflow conversion
• The transaction is immediately earnings accretive (pre synergies) with the ability to create future opportunities for Miya Precision and the Kyra customers

Transaction Structure and Funding

The asset transaction is structured as a $3.0M upfront payment and up to $1.0M earn-out, funded through existing cash reserves, thereby aligning the financial interests of both parties.

• $3.0M upfront payment - paid on completion, on a cash free and debt free basis, and subject to customary completion adjustments; and
• Up to $1.0M earn out payment – subject to recurring revenue metrics, assessed over the 12-month period post completion, meeting agreed thresholds.

The transaction will be funded from available cash reserves. As of 31 March 2026, Alcidion held $15.1M of cash and no debt. Completion expected to occur by the end of June 2026, subject to satisfying closing conditions.

Henslow Pty Ltd acted as corporate advisor and Arnold Bloch Leibler as legal advisor to the transaction.

ENDS

Authorised for ASX release by the Board of Directors of Alcidion Group Limited

For further information, please contact:

Investor Relations

investor@alcidion.com

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About Telstra Health

At Telstra Health, we're here for life - working alongside governments, clinicians and communities to support better care for all. With a unique footprint across Australia and internationally, we bring deep expertise across health, aged care and social services. Our capabilities span national cancer screening, social support programs and secure, integrated software solutions. By connecting people, providers and systems with real-time data, AI-powered workflows and clinically safe solutions, we help enable coordinated care that supports outcomes and empowers individuals to take charge of their wellbeing.

Telstra Health media contact: communications@health.telstra.com

About Alcidion

Alcidion Group Limited (Alcidion) has a simple purpose: to transform healthcare with proactive, smart, intuitive technology solutions that improve the efficiency and quality of patient care in healthcare organisations worldwide.

Alcidion offers a complementary set of software products and technical services that create a unique offering in the global healthcare market. Based on the flagship product, Miya Precision, the solutions aggregate meaningful information to centralised dashboards, support interoperability, facilitate communication and task management in clinical and operational settings and deliver clinical decision support at the point of care; all in support of Alcidion's mission to improve patient outcomes.

Since listing on the ASX in 2016, Alcidion has acquired multiple healthcare IT companies and now operates across three established markets — Australia, New Zealand and the United Kingdom — serving hospitals and healthcare organisations at scale, with further geographical expansion planned.

With over 25 years of 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 2026