ATOMO DIAGNOSTICS LIMITED — Capital/Financing Update 2021

Apr 29, 2021

ASX Announcement

==> picture [133 x 39] intentionally omitted <==

30 April 2021

Update to Atomo's US market strategy

• Atomo progresses its US market entry programme, driven by the growth in telehealth and at-home testing and expansion of US government support for point of care test ( POCT ) solutions

• Specialist consulting firm Bondi Partners engaged to provide strategic advisory and commercial engagement activities in support of Atomo’s US go-to-market strategy

• Engagement designed to position Atomo to establish a meaningful foothold in the US$8B US POCT market

• 4,000,000 unlisted options will be issued to Bondi Partners or affiliated entities in two tranches at exercise prices of $0.40 and $0.60, a significant premium to Atomo’s current share price

SYDNEY Australia Friday, 30 April 2021: Atomo Diagnostics Limited (ASX: AT1) ( Atomo ) is pleased to announce that it has appointed specialist consulting firm, Bondi Partners, to assist with the development and execution of its US go-to-market strategy and commercial engagement across both public and private sectors.

With two of Atomo’s key customers now well progressed with FDA regulatory approvals, Atomo intends to focus on the growth of its business operations in the US market, which represents more than half of the POCT market value globally. Atomo has identified the growing home / telehealth market and expanded US government support for POCT solutions as of particular interest and has assessed the regulatory and commercial pathway to support the US launch of the Atomo HIV Self-Test. The engagement with Bondi Partners will focus on developing the Company's US market expansion strategy, identifying partnerships and building impactful relationships in the US; driving strategic communications and promoting Atomo as a leading innovator in point of care diagnostics, in particular the rapidly growing athome and telehealth markets where Atomo’s technology is uniquely suited to play a key role.

Atomo Diagnostics Limited ACN 142 925 684 Level 2, 701 – 703 Parramatta Road, Leichhardt NSW 2040

==> picture [133 x 39] intentionally omitted <==

Atomo’s Managing Director, John Kelly, said, “Our award-winning rapid test solutions are increasingly recognised in global markets and we see great promise for Atomo’s technology in the US. During the last year there has been major disruption in the US to the traditional healthcare delivery model, with a significant shift to broad acceptance of telehealth and athome healthcare solutions. With an existing track record assisting growing Australian companies to successfully enter the US, we feel that Bondi Partners are ideally placed to enable Atomo to execute on this exciting opportunity.”

Founding Partner and President of Bondi Partners, Joe Hockey said, “Bondi Partners looks forward to working with Atomo to support its entry to the United States - the largest and most influential diagnostics market in the world. Atomo’s technology is a great example of worldleading Australian innovation and they have the potential to make a major contribution to the evolution of healthcare delivery in the US”.

As part of the appointment, 4,000,000 unlisted options will be issued to Bondi Partners or affiliated entities in two tranches of 2,000,000 options per tranche. The options to be issued under tranche 1 are exercisable at $0.40 per option, vest on 30 April 2022 (conditional upon the extension of Bondi Partners' appointment) and expire on 30 April 2024. The options to be issued under tranche 2 are exercisable at $0.60, vest on 31 October 2022 and expire on 30 April 2024. More information on the options is set out in the attached Appendix 3B.

For more information, please contact:

Jane Lowe IR Department jane.lowe@irdepartment.com.au Phone: +61 411 117 774

John Kelly Atomo Diagnostics john.kelly@atomodiagnostics.com Phone: +61 401 922 279

Mark Rudder Bondi Partners Mark.rudder@bondipartners.com Phone: +61 411 362 362

This announcement was authorised by John Kelly, Managing Director.

Atomo Diagnostics Limited ACN 142 925 684 Level 2, 701 – 703 Parramatta Road, Leichhardt NSW 2040

==> picture [133 x 39] intentionally omitted <==

About Atomo

Atomo is an Australian medical device company supplying unique, integrated rapid diagnostic test (RDT) devices to the global diagnostic market. Atomo’s patented devices simplify testing procedures and enhance usability for professional users and untrained self-testers. Atomo has supply agreements in place for tests targeting a range of infectious diseases including for HIV, COVID-19, and viral vs bacterial differentiation.

See more at www.atomodiagnostics.com.

Atomo Diagnostics Limited ACN 142 925 684 Level 2, 701 – 703 Parramatta Road, Leichhardt NSW 2040