CURVEBEAM AI LIMITED — Call Transcript 2025

Apr 29, 2025

QUARTERLY 4C CONFERENCE CALL 30th of April 2025

DISCLAIM ER

Introduction

THIS DOCUMENT IS NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN OR INTO OR FROM THE UNITED STATES OF AMERICA OR TO ANY RESIDENT THEREOF, OR ANY OTHER JURISDICTION WHERE SUCH RELEASE, PUBLICATION OR DISTRIBUTION IS UNLAWFUL. THIS DOCUMENT IS NOT AN OFFER OR INVITATION TO BUY OR SELL SECURITIES.

This presentation has been prepared by CurveBeam AI Limited (ACN 140 706 618) ( CurveBeam or the Company ) and contains summary information about CurveBeam and the business conducted by it as at 30 April 2025. The information in this presentation is for informational purposes only, does not purport to be complete and is not a prospectus, product disclosure statement or other disclosure document for the purposes of Chapter 6D or Part 7.9 of the Corporations Act 2001 (Cth) ( Act ) or other offer document under Australian law or the law of any other jurisdiction.

The distribution of this document outside of Australia may be restricted by law and any such restrictions should be observed. This document may not be distributed or released to any person in the United States. As further detailed below, none of CurveBeam, nor its advisers ( Advisers ) nor their respective affiliates, related bodies corporate (as defined in the Act) or security holders and their respective directors, officers, employees, partners, representatives, consultants, agents or advisers (each a Limited Party and together, the Limited Parties ) guarantees or make any representation or warranty to, or takes responsibility for, the accuracy, reliability or completeness of the information contained in this presentation, to the recipient of this document (you or the Recipient), and nothing contained in this document is, or may be relied upon as, a promise or representation, whether as to the past or future. To the maximum extent permitted by law, each Limited Party disclaims any liability for any loss arising from the use of information including representations or warranties or in relation to the accuracy or completeness of the information, statements, opinions or matters, express or implied, contained in, arising out of or derived from, or for omissions from, this presentation.

Forward looking statements

The information given in this presentation is given for illustrative purposes only and should not be relied upon as (and is not) an indication of CurveBeam’s views on future performance or condition. Past performance cannot be relied upon as an indicator of future performance. This presentation contains certain forward-looking statements. The words “forecast”, “estimate”, “like”, “anticipate”, “opinion”, “should”, “could”, “may” and other similar expressions are intended to identify future earnings, financial position and performance of CurveBeam. You are cautioned not to place undue reliance on these statements. These forward-looking statements are based on estimates, projections and assumptions made by CurveBeam about circumstances and events that have not yet taken place. Although due care and attention has been used in the preparation of these statements, such forward-looking statements are based on numerous assumptions regarding CurveBeam’s present and future business strategies and the political, regulatory and economic environment in which CurveBeam will operate in the future and are subject to change without notice. Statements about market and industry trends, which are based on interpretations of current market conditions, may not be reasonable, and are not guarantees or predictions of future performance. The actual results or performance of CurveBeam may be materially different from the results or performance expressed or implied by such forward-looking statements. No representation, warranty or assurance (express or implied) is given or made in relation to any forward-looking statement by any person (including any of the Limited Parties). In particular, no representation, warranty or assurance (express or implied is given that the occurrence of the events expressed or implied in any forward-looking statement in this presentation will actually occur). Subject to any continuing obligations under applicable law, the Company expressly disclaims any obligation or undertaking to provide any updates or revisions to any forward-looking statements in this presentation to reflect any change in expectations in relation to any forward-looking statement or any change in events, conditions or circumstances on which any statement is based.

Financial information

All numbers in this presentation are stated in Australian dollars ( A$ ) unless stated otherwise.

Not an offer or financial product advice

The information contained in this presentation is for informational purposes only and should not be considered, and does not contain or purport to contain, an offer, invitation, solicitation or recommendation with respect the purchase or sale of any securities in CurveBeam nor does it constitute legal, taxation, financial product or investment advice. The general information in this presentation has been prepared without taking into account the investment objectives, financial situation or particular needs of any particular person. Recipients of the presentation must undertake their own independent investigations, consideration and evaluation. By accepting this presentation, a Recipient agrees that if it proceeds further with its investigations, consideration or evaluation of investing in CurveBeam it will not in any way rely upon this document. Neither this presentation nor any of its contents will form the basis of any contract or commitment and it is not intended to induce or solicit any person to engage in any transaction nor is it intended to be used as the basis for making an investment decision.

CurveBeam recommends that potential investors consult their professional advisors as an investment in CurveBeam is subject to investment and other known and unknown risks, some of which are beyond the control of CurveBeam or its directors and therefore any investment is considered to be speculative in nature.

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4C SUM M ARY OF KEY ACTIVITIES

• During Q3 FY25, CurveBeam AI received purchase orders (POs) for seven (7) devices , four ( 4 ) of which were HiRise™.

• Total POs for Q3 FY25 were up 40% from five (5) in the prior corresponding period (pcp) .

• Twenty ( 20 ) POs have been received for the nine (9) month period to 31 March 2025 versus twelve ( 12 ) in the prior corresponding period, up 67%.

• During the quarter, the company pursued a vendor financing facility . CVB has entered into a non-binding term sheet with an international financing partner for an ~A$18m (€10m) facility . Contract completion is expected in Q4 FY25 post final due diligence. This facility will allow the Company to offer leasing deals to support direct sales in Europe and other key markets and also allow CVB to immediately finance existing leased devices which will result in positive cash inflows post signing.

CVB continuing to complete validation of the enhanced HiRise™ , required for custom protocols for hip and knee robotic surgical systems. As announced on 31 March 2025, the Company submitted further validation data and substantive accompanying documents to the vendor, including updated instructions for use to include HiRise™. The Company is confident this submission meets the requirements to complete validation and awaits the vendor review and its conclusion.

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Q U A R T E R L Y P U R C H A S E O R D E R S A N A L Y S I S

Device Purchase Orders	Device Purchase Orders	Device Purchase Orders	Device Purchase Orders	Q1	FY24	FY24	Q2	FY24	Q3 FY24	Q1	FY25	Q2	FY25	Q3 FY25	Q3 FY25
		US			2			2	2		1		8		4
		Rest of World			1			2	3		2		2		3
		Total			3			4	5		3	10			7
						Total Purchase Orders by Qtr
	12
	10
	8
	6
	4
	2
	0
		Q1 FY24	Q2 FY24				Q3 FY24 US		Rest of World	Q1 FY25 Total		Q2 FY25		Q3 FY25

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Cash Analysis

• Cash at the end of Q3 was A$4.9m, with receivables plus cash due as at the end of Q3 FY25 from previous POs of A$7.9m. This is expected to result in a near-term cash position for the Company of A$13.8m .

• Cash used in operations for Q3 FY25 was A$4.4m versus A$4.5m in Q3 FY24 (pcp) and A$2.7m in Q2 FY25.

• Cash outflows of A$5.9m down from A$6.8m in the pcp , and A$7.1m in Q2 FY25.

• Inventory levels as of the end of March were $12.7m.

• Cash from previous POs are collected as devices are installed and based on the current installation schedule, CVB expects 4Q FY25 will be cashflow positive .

• Given the expected cash inflows from device installations and other targeted initiatives, the Company Board is confident in the Company’s cash position .

• The Company is also advancing other opportunities that may deliver further nondilutive capital.

ENHANCED HIRISE™ PROJECT FOR ROBOTIC AIDED SURGICAL SYSTEMS

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• CurveBeam AI has completed the development of the Enhanced HiRise ™ platform and is FDA 510(k) cleared .

• Enhanced HiRise™ WBCT scans, with higher energy X-Ray source, allows key anatomical landmarks to be identified in larger patients.

• [As announced on 31 March 2025, the ] [Company submitted further ] validation data and substantive accompanying documents to the ™

• vendor, including updated instructions for use to include HiRise .

• The Company is confident this submission meets the requirements to complete validation and awaits the vendor review and its conclusion .

• The results can only be reviewed by the vendor under their device FDA clearance. We have delivered everything to the vendor we control and now await their regulatory/R&D review.

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IN CLOSING

• During Q3 FY25, CurveBeam AI received purchase orders (POs) for seven (7) devices, up 40% from five (5) in the prior corresponding period (pcp).

• Twenty (20) POs have been received for the nine (9) month period to 31 March 2025 versus twelve (12) in the pcp, up 67% .

• Cash at the end of Q3 was A$4.9m, with receivables plus cash due from previous POs of A$7.9m. This results in a near-term cash position for the Company of A$13.8m .

• During the quarter, CVB pursued a vendor financing facility and has entered into a non-binding term sheet with an international financing partner for an ~A$18m (€10m) facility . Contract completion is expected in Q4 FY25 post final due diligence. This facility will allow the Company to offer leasing deals to support direct sales in Europe and other key markets.

• CVB is continuing to complete the validation of the enhanced HiRise ™ and is confident the submission meets the requirements to complete validation and awaits the vendor review and its conclusion.

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DEFINITIONS

CurveBeam AI’s key metrics are defined and interpreted as follows:

• Purchase order – a signed purchase order (PO) for a CT scanner (device). The Company considers POs to be a key metric as it reflects actual sales at any given time.

• Receipts from customers – any cash consideration received from a customer by CurveBeam AI. This can include initial deposits required at the time of an order being placed.

• Revenue – Revenue is recognised after the device (e.g., HiRise™) is delivered, installed and training has been completed. Depending on the customer site requirements, there can be several months’ delay from a signed purchase order to recognition of revenue. Thus, revenue may not be reflective of sales progress in each period.

The Company will report on POs and cash receipts in its Appendix 4C (quarterly) lodgments, while revenue will be reported in Appendix 4E (full year report) and Appendix 4D (half year report).

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