EMVISION MEDICAL DEVICES LTD — Capital/Financing Update 2021

Dec 7, 2021

8/12/21

EMVision Medical Devices Ltd ACN 620 388 230 Level 10, 12 Creek Street, Brisbane Qld 4000 02 8667 5337 contact@emvision.com.au

EMVISION RECEIVES $3.4M NON-DILUTIVE FUNDING THIS QUARTER

EMVision Medical Devices Limited (ASX:EMV) (“EMVision” or the “Company”), a medical device company focused on the development and commercialisation of portable medical imaging technology, is pleased to advise that the Company has received a total non-dilutive cash funding injection of $3.4 million in the current quarter. Following receipt of the cash receipts outlined below, EMVision has cash reserves of approximately $10.3 million.

GE Healthcare Partner Cash Contribution under CRC-P

The Company is pleased to advise it has received an initial $180,000 (of $360,000) CRC-P partner cash contribution towards its clinical development activities from GE Healthcare. EMVision was awarded a nondilutive CRC-P grant from the Government of the Commonwealth of Australia in late 2017 to support the development of its novel technology. GE Healthcare is a grant participant partner and collaborator.

EMVision has also received $30,000 from the Commonwealth Government during the quarter. EMVision anticipates receiving the outstanding contributions under the CRC-P grant totalling $330,000 by the end of Q1CY22, being $150,000 from the Commonwealth Government and an additional $180,000 from GE Healthcare.

R&D Tax Incentive Rebate for FY21

EMVision confirms it has received a cash rebate of $1,990,372 from its R&D tax incentive claim for the financial year ending 30 June 2021.

Australian Stroke Alliance Grant Funding

As advised in the AGM Chairman’s address, EMVision has received $1,200,000 in grant funding from the Australian Stroke Alliance during the quarter. EMVision was pleased to secure $8,000,000 of non-dilutive staged grant funding via the Australian Stroke Alliance and Medical Research Future Fund during the year. The funding received to date represents the first two milestone payments due.

Authorised for release by the Board of the Company.

[ENDS]

For further information, media or investor enquiries, please contact:

Andrew Keys Sling & Stone Scott Kirkland Investor Relations Media and Communications Executive Director +61 400 400 800 emvision@slingstone.com +61 2 8667 5337 andrew.keys@keysthomas.com 02 8073 5390 skirkland@emvision.com.au

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About EMVision Medical Devices

EMVision Medical Devices Limited is focused on the development and commercialisation of medical imaging technology. The Company is developing and seeking to commercialise a potentially cost effective, portable, medical imaging device using electromagnetic microwave imaging for diagnosis and monitoring of stroke and other medical applications. The technology is the result of over 10 years of development by researchers at the University of Queensland. The team of approximately 20 researchers is led by co-inventor Professor Amin Abbosh, who is considered a global leader in electromagnetic microwave imaging. EMVision’s Chief Scientific Officer is Professor Stuart Crozier, who is a co-inventor and is globally renowned for creating technology central to most MRI machines manufactured since 1997. EMVision’s CEO, Dr Ron Weinberger, is the Former Executive Director and CEO of Nanosonics' (ASX:NAN), a $2 billion market cap healthcare company. Dr Weinberger has over 25-years’ experience developing and commercialising medical devices. During his time at Nanosonics, Dr Weinberger co-developed the company’s platform technology and launched their breakthrough product ‘Trophon’ globally, which would go on to become the gold standard for infection prevention. Dr Weinberger was instrumental in transforming Nanosonics from a research and development company to one of Australia’s leading medical device commercialisation success stories.

Forward-looking Statements

This release may contain certain forward-looking statements with respect to matters including but not limited to the financial condition, results of operations and business of EMVision and certain of the plans and objectives of EMVision with respect to these items. These forward-looking statements are not historical facts but rather are based on EMVision’s current expectations, estimates and projections about the industry in which EMVision operates, and its beliefs and assumptions. Words such as "anticipates," "expects," "intends," "plans," "believes," "seeks," "estimates", "guidance" and similar expressions are intended to identify forward looking statements and should be considered an at-risk statement. Such statements are subject to certain risks and uncertainties, particularly those risks or uncertainties inherent in the process of developing technology and in the endeavour of building a business around such products and services. These statements are not guarantees of future performance and are subject to known and unknown risks, uncertainties and other factors, some of which are beyond the control of EMVision, are difficult to predict and could cause actual results to differ materially from those expressed or forecasted in the forward looking statements. EMVision cautions shareholders and prospective shareholders not to place undue reliance on these forward-looking statements, which reflect the view of EMVision only as of the date of this release. The forward-looking statements made in this announcement relate only to events as of the date on which the statements are made. EMVision will not undertake any obligation to release publicly any revisions or updates to these forward-looking statements to reflect events, circumstances or unanticipated events occurring after the date of this announcement except as required by law or by any appropriate regulatory authority.

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