Medicalgorithmics S.A. — Regulatory Filings 2023

Jan 9, 2023

Notification thatMedicalgorithmics US Holding Corporation will receive 3,0 mUSD of theIRS Tax Refund Amount from Medi-Lynx on or before January 13, 2023_#160;_#160;_#160;

RB: 1/2023

Date: 07.01.2023

Legal basis: Article 17.1 MAR - confidentialinformation

Management Board of Medicalgorithmics S.A.headquarted in Warsaw (hereinafter the _quot;Company_quot;) with reference to theCompany's report no. 47/2022 and 52/2022, announces that on January 6th,2023, was notified that Medi-Lynx Cardiac Monitoring (hereinafter"Medi-Lynx") had received the IRS tax refund (as referred to in reportno. 47/2022)._#160;Accordingly,Medi-Lynx will remit 3.0 mUSD (65% of the tax refund amount less thecost of obtaining it) to the Medicalgorithmics US Holding Corporation onor before January 13, 2023. That payment was secured with a paymentguarantee provided by React Health. The amount when received will bebooked as an increase of the price of Medi-Lynx disposal.

In the opinion of the Management Board the Companyprior to receiving that notification already had sufficient funds toexecute on its short and mid-term goals. Its future financial stabilityand liquidity was already well secured after receiving cash capitalincrease of PLN 13.8 mPLN and a commitment to provide further financingup to PLN 13.8 mPLN within 36 months if needed from its majorshareholder Biofund Capital Management LLC (hereinafter "Biofund") asreferred to in a report no. 55/2022 and 72/2022 regarding the BiofundInvestment Agreement and Investment Presentation.

The tax refund amount was not included in Company'sfinancial plan, and it will additionally significantly increase cashreserves to nearly 39 mPLN.

Therefore, the increased funds held by the Companywill allow the Company to accelerate the implementation of the StrategicInitiatives outlined in the Presentation of Biofund investment inMedicalgorithmics published in the current report no. 58/2022,especially executing on the new technology roadmap. It will alsoaccelerate long-term sales growth in the US and Global (OUS) markets asper the current report no. 72/2022.