Medicalgorithmics S.A.

Regulatory Filings • Feb 5, 2025

Subject:Medicalgorithmics Signs Fourth Service Agreement for a Clinical Studywith a Canadian Institute, Projecting a Total Revenue of EUR 580K by 2026

CurrentReport No.:4/2025Date of Preparation:February 4, 2025Legal Basis:Article 17(1) of the MAR Regulation - Inside Information

The ManagementBoard of Medicalgorithmics S.A., headquartered in Warsaw (the _quot;Company_quot;;the _quot;Issuer_quot;), announces the signing of a service agreement (the_quot;Agreement_quot;) with Hamilton Health Sciences Corporation (_quot;HHSC_quot;) throughthe Population Health Research Institute (_quot;PHRI_quot;; the _quot;Institute_quot;),based in Ontario, Canada.

Under theAgreement, Medicalgorithmics S.A. will collaborate with the Institute ona multicenter clinical study coordinated by PHRI, titledSurgicalAblation of Atrial Fibrillation Efficacy(SAFE) (the _quot;Study_quot;), byproviding PHRI with patient telemetry monitoring and ECG analysisservices (using PocketECG devices) for study participants (the_quot;Services_quot;).

The Servicesprovided by the Company will include:

The Agreementhas been signed for a fixed term of seven (7) years. PHRI may terminatethe Agreement with immediate effect upon written notice in the event ofa material breach by the Company, following an unsuccessful 14-day cureperiod. The Agreement may also be terminated by mutual consent of bothparties. Additionally, the Study and the Agreement may be discontinuedif the regulatory authority, Health Canada, withdraws its approval forthe clinical trial due to an increased risk-to-benefit ratio for studyparticipants.

According to theManagement Board's assessment, estimated revenues from the Agreementwill total up to EUR 310K over its duration, until 2031. However, theCompany expects that the full scope of the Agreement and compensationmay be realized within approximately 30 months, i.e., by early 2027. Inthe initial phase, during the first quarter of 2025, the Company mayreceive around EUR 30K, with the remaining compensation distributed overthe actual duration of the Agreement in line with the number of studiesconducted.

PHRI is a jointinstitute of McMaster University and Hamilton Health Sciences. Itcollaborates with research networks and other institutes in Ontario,across Canada, and globally. As a research institute, PHRI has conductedstudies involving 1.5 million participants across 105 countries on sixcontinents. PHRI's research contributes to advancements in medicaltherapies worldwide.

According to theManagement Board of the Company, the collaboration with PHRI willstrengthen the Company's market position and systematically increase thescale of its clinical research operations and revenues. This is theCompany's fourth agreement in the clinical research business sector,with estimated total revenues from these four agreements expected toreach approximately EUR 580K over the next two years (around EUR 230K in2025 and EUR 350K in 2026).