IMPEDIMED LIMITED — Capital/Financing Update 2021

Oct 26, 2021

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27 October 2021

ASX ANNOUNCEMENT

IMPEDIMED COMPLETES A$35 MILLION INSTITUTIONAL PLACEMENT

ImpediMed Limited ( ImpediMed or the Company ) is pleased to announce that it has received firm commitments to raise A$35m (before costs) by the way of institutional placement to support product, data and software enhancements, the development and commercialisation of the renal failure application, and general working capital.

Highlights

• ImpediMed has received firm commitments from existing and new institutional and sophisticated investors to raise A$35 million at A$0.1525 per share.

• Funds raised will support product, data and software enhancements, development and commercialisation of renal failure application and general working capital.

• ImpediMed will also offer a non-underwritten share purchase plan to eligible shareholders in Australia and New Zealand to raise up to ~A$5 million.

Commenting on the capital raising, ImpediMed Managing Director and CEO, Richard Carreon, said, “We are very encouraged by the level of support investors have shown as we look to capitalise on the significant opportunity with the recently released PREVENT Trial results. Following the completion of the capital raising, we are now in a fully funded position to accelerate sales in Oncology, while still investing in our other key focus areas of Renal Failure and Heart Failure.”

“We thank our existing shareholders for their ongoing support and welcome new shareholders to the register. This is an exciting time for the Company, as we believe the PREVENT Trial results will be practice changing and the continued commercialisation of SOZO will positively impact the lives of so many patients,” he continued.

The capital raising comprised an institutional placement to raise A$35 million ( Placement ) to existing and new institutional and sophisticated investors and a share purchase plan to existing eligible shareholders in Australia and New Zealand to raise up to approximately A$5 million ( SPP ). All shares issued under the Placement and SPP will rank equally with existing fully paid ordinary shares in ImpediMed as at their date of issue.

Placement

The Placement received strong support from existing and new institutional and sophisticated investors. ImpediMed will issue 229.5 million new shares at A$0.1525 per share utilising ImpediMed’s existing placement capacity under ASX Listing Rule 7.1 (79.8 million shares) and ASX Listing Rule 7.1A (149.7 million shares).

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ImpediMed Limited ASX Announcement

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• The issue price under the Placement represents a 10.3% discount to the last closing price of ImpediMed’s shares on the ASX on 22 October 2021 (the last Trading Day before the announcement of the Placement and SPP); and

• a 9.8% discount to the 5-day volume weighted average price of ImpediMed’s shares ended 22 October 2021.

The Placement is not underwritten.

Canaccord Genuity (Australia) Limited and Wilsons Corporate Finance Limited are joint lead managers for the Placement.

Share Purchase Plan

Existing eligible shareholders, being those shareholders that are residents in Australia or New Zealand that held ImpediMed’s shares as at 7:00pm (Sydney time) on 26 October 2021, will be invited to participate in the SPP at the same issue price as the Placement (A$0.1525 per share). The SPP will provide such shareholders the opportunity to increase their holding by up to A$30,000 without incurring any brokerage or transaction costs.

The SPP aims to raise approximately A$5 million and is not underwritten. ImpediMed reserves the right to increase the size of the SPP at its discretion. The SPP may also be subject to a scale back of application at the absolute discretion of the Company.

Existing eligible shareholders wishing to participate in the SPP should carefully read the SPP Offer Booklet and accompanying form, which are expected to be dispatched on or around 3 November 2021. A copy of the SPP Offer Booklet will also be available on the ASX website.

Use of Funds

ImpediMed intends to use the proceeds of the Placement and SPP (net of costs and expenses) for:

• general working capital that is sufficient for ImpediMed to achieve breakeven, including advance inventory purchases to address growth, current global chip shortages, COVID-19 related supply chain issues and transition to SOZO II;

• product enhancement of the SOZO II digital health platform, including weight scales and improved electronics for renal and heart failure;

• data and software enhancements including corporate account development such as electronic health record integration and heart failure programs; and

• the development and commercialisation of renal failure application, including end stage renal disease clinical trial and US FDA clearance.

For further information, please refer to the Investor Presentation released to the ASX today.

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ImpediMed Limited ASX Announcement

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Key dates for capital raising*

Event	Date (Sydney time)
Record date for determining eligibility to participate in the SPP	Tuesday, 26 October 2021
Placement shares are issued and commence trading	Tuesday, 2 November 2021
Despatch of SPP offer booklet and SPP offer period opens	Wednesday, 3 November 2021
SPP offer period closes	5pm on Thursday, 11 November2021
Issue of shares under the SPP	Before 12pm on Thursday, 18November 2021
SPP shares commence trading	Friday, 19 November 2021

*The dates set out in the timetable above are indicative only and are subject to change without notice. Any change in the timetable does not affect the rights or obligations an investor or shareholder has as a result of accepting an allocation in the Placement or the SPP.

Authorised for release by the Board of Directors of ImpediMed Limited

Contact Details

Investor Relations Contact:

Mike Bassett, ImpediMed T: +61 407 431 432 E: mbassett@impedimed.com

About ImpediMed

Founded and headquartered in Brisbane, Australia with US and European operations, ImpediMed is a medical software technology company that non-invasively measures, monitors and manages fluid status and tissue composition using bioimpedance spectroscopy.

ImpediMed produces a family of FDA cleared and CE Marked medical devices, including SOZO[®] for multiple indications including heart failure, protein calorie malnutrition and lymphoedema, sold in select markets globally.

For more information, visit www.impedimed.com.

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ImpediMed Limited ASX Announcement