COMPUMEDICS LIMITED — AGM Information 2021

Oct 27, 2021

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Cover sheet to be added – Simone Corporate Presentation October 2021

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AGM Agenda

Meeting opens Chair’s address Ordinary business Meeting closes

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Ordinary Business

Item 1 Financial Statements and Reports Item 2 Re-election of a Director – David Lawson Item 3 Adoption of Remuneration Report (non-binding resolution)

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Who is Compumedics?

A leading global, innovative developer and manufacturer of medical devices for:

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Monitoring neurological Ultrasonic monitoring of Diagnosing disorders including longHighly sophisticated blood flow through the sleep disorders term epilepsy monitoring brain research brain (Transcranial (LTEM) Doppler [TCD]) A technological leader in its chosen markets: #1 China sleep #3 USA sleep diagnostic #1 Australian sleep & #1Japan sleep diagnostic device device supplier and neuro diagnostics device diagnostics device supplier to premier emerging #3 supplier for supplier supplier facilities & #1 TCD neurological monitoring device supplier devices FY21 Revenues up 2% to $35.7m, FY19 underlying EBITDA up 13% to $2.6m.

A technological leader in its chosen markets:

FY22 Guidance not given due to the ongoing uncertainty caused by the impacts of the COVID-19 pandemic on our markets around the world.

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130 employees across seven locations, Melbourne, Australia (Head Office), Charlotte, NC, USA, Hamburg, Dresden and Singen, Germany, Paris, France and Daejeon, South Korea. Compumedics listed ASX Dec 21, 2000. CMP has market capital of around $70m.

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All $ = A$ unless otherwise specified

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FY2021 – Performance Review

 Revenue $35.7m, EBITDA $2.6m, NPAT $1.0m

	FY21	FY20	Variance	Comment
Revenue	$35.7m	$35.1m	2%	Revenues stabilised and resumed growth as COVID-19 impacts lessened as FY21 progressed.
EBITDA – underlying EBITDA – reported	$2.6m $2.6m	$2.3m $(5.6)m	13% n/a	Underlying profitability improved as sales increased and tight cost control remained. In FY20 reported profitability was impacted by a once-off $7.7m write-down of intangible assets.
NPAT – underlying NPAT – reported	$1.0m $1.0m	$1.8m $(5.8)m	(44)% n/a	Underlying NPAT fell primarily as a result of a smaller tax benefit in FY21 compared to FY20. In FY20 reported NPAT was impacted by a once-off $7.7m write-down of intangible assets, which also impacted the tax expense/benefit in FY20.

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FY2021 – Performance Review

• Core: Europe rebounded well in FY21 with revenues increasing 49% over the prior period, this was driven by revenue increases in France, Germany and the DWL business.

• Core: Increases in Europe were off-set by declines in the USA based business, down 17% and Asia (including Australia) down 6% mostly in China with Australia performing in line with FY20. The declines in the USA and Asia were impacted by the strengthening AUD to the USD during FY21.

• Core: Profitability (EBITDA) improved as a result of the increase in sales as COVID-19 impacts abated. This was coupled with improved margins 54% in FY21 compared to 51% in FY20 and ongoing cost containment and efficiency gains in the operations of the business.

• MEG growth initiative: The second phase of the first MEG sale to Barrow Neurological Institute in Phoenix, AZ, USA, was scheduled for H2 FY20 but has been delayed by restrictions around COVID-19, currently targeting early 2022 completion. Further MEG opportunities identified with discussions on-going.

• –

• eHealth growth initiative 56 customers, with over 350 beds in US and Australia secured for Nexus 360 (professional application), which generated $1.1m of revenues in FY21 (COVID impacted due to lab closures).

• Somfit (consumer application) product development progresses with COVID-19 multi-modal capability applications currently being pursued alongside existing targeted applications.

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Revenue Composition at $35.7m

30 June 2021

By geographic region

By product/market

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Europe,
USA, 29%
31%
Aust, 13%
Asia, 27%
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Customer
Consumables
Care 9%
10%
Brain - Sleep -
Blood Flow Clinical
Monitoring Diagnostics
21% 28%
Sleep -
Brain -
Nexus360
Research
2%
15% Brain - Clinical
Monitoring 15%
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Software upgrades 5 to 10% of system revenues. MEG included in Brain – Research

Compumedics sells directly to end-user customers in Australia, USA, France and Germany and through its network of more than 50 distributors to all other parts of the world

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Revenue Bridge Chart – FY20 to FY21

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EBITDA Bridge Chart – FY20 to FY21

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Core Business – COVID-19 impacts absorbed, profits continue

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Core Business – Consistent Net Cash Position

$m	FY16	FY17	FY18	FY19	FY20	FY21
Cash	3.1	4.1	3.9	4.6	6.4	6.8
Trade receivables	11.9	13.1	18.3	16.0	12.6	13.0
Inventories	6.5	7.4	7.6	7.8	8.8	9.7
Capitalised R&D	2.4	2.4	4.0	6.8	2.8	4.1
Tax asset	0.5	0.8	0.1	0.0	0.8	0.8
PP&E	0.8	0.7	0.7	1.7	1.5	1.0
Other	0.9	0.7	0.0	1.8	2.6	3.2
Assets	26.1	29.2	34.7	38.7	35.5	38.6
Trade creditors	4.1	4.2	5.1	4.4	3.8	5.4
Borrowings	2.6	0.7	1.9	1.6	3.0	5.0
Deferred Revenues	2.0	1.6	1.7	1.4	2.1	2.0
Other/Deferred Tax	2.8	2.7	2.7	4.0	4.8	4.0
Total Liabilities	11.5	9.2	11.5	11.4	13.7	16.4
Net Assets	14.6	20.1	23.2	27.3	21.8	22.2
Net (Cash)/Debt to
Equity	(3)%	(17)%	(9)%	(11)%	(16)%	(8)%

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China - We are the number 1 Premier Supplier Compumedics Clients in China

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Sleep
Neuroscience
Neuroscan
2
28
5
Xin Jiang Helongjiang
Inner Mongolia 2 Jilin
China Sales (invoiced) – USD’s Beijing 88 2 Liaoning
23
Ningxia Qinhuangdao
QingHai
3 HeBei 10 3 Tianjin Dalian
2 3
16
9.6 Gansu 14 HeNan 12 Welfang
Shandong
7.6 Shaanxi 6 Rizhao
6.1 6.2 6.5 6.6 SiChuan10 HuBei 5JiningJiangSu 11 Shanghai
18 2 13 14 Suzhou 49
Chongqing AnHui 34 6 Zhejiang
YunNan GuiZhou 4 Nanchang
2 2 Changsha 26
Fujian
GuangXi GuangDong
FY16 FY17 FY18 FY19 FY20 FY21 27 2 Xiamen
8
Shenzhen
Challenges to continue in FY22 Hong Kong
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Growth Platform – Core and Step-Out

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Sales – schematic only
FY19A FY20A FY21A FY22F FY23F FY24F
Core - Base Core - Sleep/Neuro (Mid Market) Neuro - MEG Sleep - eHealth (Nexus360 & Somfit)
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• Step-out - NEURO – BRAIN IMAGING – First phase installation at Barrow Neurological Institute in Phoenix, AZ, USA has been undertaken and the second and final phase, which continues to be COVID-19 delayed, is currently planned for FY22. It confirms that we can transition from a USD30k software sale to a USD3.5m complete system sale. Additional sales opportunities being actively pursued.

• Step-out - SLEEP - CLOUD GROWTH – Nexus 360 cloud-based professional sleep diagnostic solution sold to more than 56 customers in US and Australia and generated revenues of about $1m in FY21 (COVID-19 impacted as some labs temporarily closed). Annual contracted fees now over $1.5m. Somfit development and discussions continue, including as a multi-modal COVID-19 monitor.

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*MEG = Magnetoencephalography

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Core Business – Premium Focus

	Sleep Diagnostics	Neuro Diagnostics – Clinic	Neuro Diagnostics - Research	Brain Blood Flow Diagnostics
Global market – USD pa	250m	1,300m	20m	15m
Compumedics
market share	6%	<1%	30%	35%
(approximate)
Compumedics market position	Aust – 1 USA – 3 China - 1	Aust – 1 USA – 3 China - 1	Aust – 1 USA – 1 China – 1	Aust – 1 USA – 2 China – 1 Germany – 1
Business and	Capital equip –	Capital equip –	Capital equip –	Capital equip –
product type	hardware and software	hardware and software	hardware and software	hardware and software
Annuity revenues –
~ % of total –	15%	10%	5%	5%
supplies & support

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Core Business - Growth Drivers

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Compumedics/Neuroscan innovative brain analysis software and high-performance amplifiers are unrivalled world class technology.

We have about 23,000 systems installed worldwide. Strong reputation and brand name. Customers like buying from Compumedics.

Earnings initiatives to continue to flow through in FY22 – FY23. New range of ambulatory products for sleep and neurology releasing FY22.

USA business still a key area of growth focus, with seeking and retaining key staff an ongoing priority.

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Continued expansion into untapped German market and ongoing growth in France and other parts of Europe.

Continuing growth in Asia, including China, in sleep diagnostics. Emphasis on the neuro diagnostic and monitoring market growth in Japan.

Ideally positioned to accelerate organic growth and value realization as the pandemic abates

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Core Business: New products > New markets Falcon HST

• A new generation of home or professional user experience for the home sleep testing market. Compumedics regulatory phases have now advanced to enable market release activities for this new device

• Will fully integrate with Compumedics existing Nexus 360 platform, our existing digital health platform for users and professionals alike

• There are up to 54m patients in the USA who suffer from OSA and the process for diagnosis has been lab or sleep centre focused, with significant bottlenecks, compounded by the pandemic. Home sleep testing provides a simpler path to initial screening compared to traditional methods and is reimbursable

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• Falcon HST will enable Compumedics for the first time to fully participate in this fast growing market segment

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Core Business: New products > New markets Falcon HST – market drivers

• The market opportunity (estimates to assist OSA sufferers) – USA 54m people, USD2.7b pa, Europe 66m people, USD 2.6b pa, Asia 77m, USD1.9b pa

• 26%1 of adults worldwide, including 54M in the US alone, suffer from sleep apnea. About 80% of adults in the US are undiagnosed

• Co-morbidities with OSA 2 times increased risk of stroke, 2 times risk of death from sudden cardiac arrest, 5 times risk of death from cardiovascular disease and 42% increased risk of recurrence of atrial fibrillation following ablation

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• HST studies likely to grow to 50% of total sleep testing -

• market from t 22% re ndemic jus p pa

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Core Business: New products > New markets Okti

• Best in class ambulatory, home or clinical EEG monitoring device, scalable from 32 channels up to 256 channels for routine EEG monitoring through to long-term epilepsy monitoring, including high density EEG capabilities

• Can be combined with Compumedics leading digital health platform Nexus 360 platform for fully integrated data, analysis storage and lab management

• Traditional capital equipment EEG market in the US estimated at approximately USD400m pa. Okti gives Compumedics a compelling advantage to convert customers and grow our existing market share to a more substantive market share

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Core Business: New Products > New Markets CURRY 9

• Compumedics class leading brain analysis software includes spike/seizure detection routines for the first time, incorporating artificial intelligence machine learning algorithms, enabling clinicians to quickly isolate epileptogenic activity

 No other package on the market provides the comprehensive feature set found in CURRY 9 including the ability to export results via DICOM to robotic surgical instruments (e.g. ROSA), coupled with the ability to record and analyse evoked potentials, popular in both clinical and research domains

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Next Generation Growth – Core and Step-out

	Sleep Diagnostics	Neuro Diagnostics – Clinic	Neuro Diagnostics - Imaging	Brain Blood Flow Diagnostics
Next generation growth platform	Cloud based sleep diagnostic platforms for both professional and consumer applications	Long term epilepsy market penetration into US, Europe and Asia	Leverage CURRY software into full MEG solution with KRISS	Leverage existing TCD technology and patent to Traumatic Brain Injury (TBI) application
Market potential	Professional application > USD3bn pa Consumer application > USD50bn pa	Greater than USD100m pa	Research only USD100m pa Brain Imaging >USD4bn pa	Estimated cost of TBI’s in the US alone greater than USD76bn pa
Business type	Services – fee per service	Capital equipment – bigger market	Capital equipment & Partnership – new market	Mixture of equipment and service fees

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Step out 1 - Brain Imaging:

Opportunity

Market & Competition

CMP’s CURRY brain analysis The MEG market is currently estimated software is already the gold at about 20 systems a year at an standard for the MEG market average selling price of USD4.0m each = US$80m/annum MRI is too slow to capture dynamic brain activity needed This is expected to grow about 10% a for alzheimer's et al year, excluding China CMP’s agreement with KRISS It is estimated that China could more provides access to a new and than double the existing market size to superior hardware platform about 50 units a year Compumedics can access a The dominant existing player is Elekta, complete MEG sale (circa based out of Sweden, followed by USD3 to 4m each) as Yokogawa (Japanese market) and CTF opposed to the USD30k MEG (a much smaller player) software sale*

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MEG = Magnetoencephalography *MRI = Magnetic resonance imaging

Outcome

Plan

FY22 – second and final FY19/FY20 CMP phase of MEG has sold and installation undertaken partially installed 1 at BNI (COVID-19 delay) MEG systems FY22 – Secure second H2 FY20 – gained MEG sales FDA for MEG in US for clinical application CMP expects to sell at 1 and possibly 2 MEG systems in FY22 CMP expects to double sales by FY24 to 2 to 4 MEG systems

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Step out 2 - eHealth – Cloud Sleep Diagnostics

Nexus 360 Operational systems have been (professional developed for the cloud-based cloud sleep capture, transfer diagnostics) sold and translation of medical grade to more than 56 sleep parameters from any web- customers in the enabled device. The system can US and Aust. sites then store, analyse and interpret with over 350 that data beds and in a simple and actionable manner, generated reducing the need for on-site revenues of about professionals. $1m in FY21. COVID-19 impacts expected to abate over FY22 and revenue growth to return

Compumedics is Key partners continuing to seek being pursued appropriate third include web, parties to expedite the telco, eHealth, process and take the consumer Somfit consumer device health/ to targeted market electronics opportunities, including providers as a potential multi and device modal COVID-19 manufacturers. monitoring device.

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Directors & Executive Team Key Management

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David Burton, Ph.D. Executive Chairman, CEO Founder, Tenure 32 yrs

Mr. David Lawson Chief Financial Officer & Company Secretary CMP Tenure 20 yrs

Mr Tucson Dunn Non Executive Director CMP Tenure 12 months

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Mr. Warwick Freeman Chief Technology Officer CMP Tenure 26 yrs

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Kerry Hubick, Ph.D. Trademark, Patent & General Legal Attorney CMP Tenure 11 yrs

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Mr. Christoph Witte General Managing Director Compumedics Germany GmbH CMP/DWL - Tenure 29 yrs

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Investor Summary

Core business profitable with on-going growth opportunities in key global markets

Compumedics remains committed to continuing to deliver superior returns to shareholders Spin off/strategic decisions to unlock significant value, provide funds for growth and potentially capital returns to shareholders

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International sales force

expansion , neurology and sleep market opportunity and earnings improvement initiatives to continue to drive growth of core business

Brain imaging and e-Health are the next steps Moving 25+years and $100m+

in cumulative R&D to a modern platform to solve massive and growing problems of neuro imaging in clinic and sleep disorders in the home

FY22 guidance: Guidance not given due to the ongoing uncertainty caused by the impacts of the COVID-19 pandemic on our markets around the world.

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Disclaimer

This presentation has been prepared by Compumedics Ltd (CMP). While the information in this presentation has been prepared in good faith and with reasonable care, no representation or warranty, express or implied, is made as to the accuracy, adequacy or reliability of any statement, estimates, opinions or other information contained in the presentation.

This presentation may contain forward looking statement. These forward-looking statement have been made based upon CMP’s expectations and beliefs concerning future developments and their potential effect on CMP (and it’s controlled entities) and are subject to risks and uncertainty which are, in many instances, beyond CMP’s control. No assurance is given that future developments will be in accordance with CMP’s expectations. Actual results could differ materially from those expected by CMP.

This presentation does not constitute an offer to sell or a solicitation of an offer to purchase any security or financial product or service. Any such offer or solicitation shall be made only pursuant to a Product Disclosure Statement, Information Memorandum, Prospectus or other offer document relating to a financial product or service.

Past performance is not necessarily indicative of future results and no person guarantees the performance of any financial product or service or the amount or timing of any return from it. There can be no assurance that the financial product or service will achieve any targeted return, that asset allocations will be met or that the financial product or service will be able to implement its investment strategy and investment approach or achieve its investment objective.

The information contained in this presentation is not intended to be relied upon as advice to investors or potential investors, who should consider seeking independent professional advice depending upon their specific investment objectives, financial situation or particular needs.

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compumedics.com.au

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