MICRO-X LIMITED — Capital/Financing Update 2019

May 27, 2019

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Micro-X Limited, 1284 South Road, Tonsley, South Australia, 5042

ABN: 21 153 273 735

Tuesday 28[th] May 2019

ASX Announcement – MICRO-X LIMITED (ASX: MX1)

FEDERAL COURT ORDER - CLEANSING NOTICE EXTENSION FOR CAPITAL RAISE ANNOUNCED 24 DECEMBER 2018

Micro-X Limited (ASX: MX1) advises that the Federal Court yesterday made orders extending the period of time in which a Cleansing Notice may be lodged in relation to the issue of placement shares announced on 24 December 2018. The Cleansing Notice may be lodged with the ASX within two business days of the Court orders, a copy of which is enclosed.

In accordance with the orders, Micro-X will forward a copy of the orders to each person that was issued shares under the placement.

For further information please contact:

Mr Peter Rowland, Managing Director, Micro-X Limited

Telephone: +61 418 844 981 prowland@micro-x.com www.micro-x.com

About Micro-X: Micro-X Limited (“ MX1 ”) is an Australian Securities Exchange listed company developing and commercialising a range of highly innovative products based on proprietary carbon nanotube emitter technologies exclusively licensed and sourced from XinRay Systems Inc., a US based technology developer. These technologies enable the miniaturisation of a number of X-ray applications relevant to large global markets.

Federal Court of Australia District Registry: Victoria Division: General

No: VID543/2019

IN THE MATTER OF MICRO-X LIMITED (CAN 153 273 735)

MICRO-X LIMITED Applicant

ORDER

JUDGE: JUSTICE MIDDLETON DATE OF ORDER: 27 May 2019 WHERE MADE: Melbourne

Note: This order is made on the basis of (a) the affidavit of Mr Richard Nicholas Hannebery sworn 21 May 2019, (b) the affidavit of Ms Catherine Helen Macrae affirmed 27 May 2019 and (c) the Applicant’s outline of submissions dated 24 May 2019. Each were filed in the Victorian Registry of this Court and are available for inspection.

THE COURT ORDERS THAT:

1. In respect of the 6,914,809 ordinary shares in Micro-X Limited ACN 153 273 735 ( MX1 ) which were issued on 3 January 2019, the period of five business days referred to in s 708A(6)(a) of the Corporations Act 2001 (Cth) (the Act ) be extended to the second business day after the day on which these orders are entered.

2. A notice under s 708A(5)(e) of the Act given to the Australian Securities Exchange Limited ( ASX ) in respect of the relevant securities within the period provided for in Order 1 above be deemed to take effect as if it had been given to the ASX on 10 January 2019.

3. In respect of the 122,122 ordinary shares in MX1 which were issued on 11 January 2019, the period of five business days referred to in s 708A(6)(a) of the Act be extended to the second business day after the day on which these orders are entered.

4. A notice under s 708A(5)(e) of the Act given to the ASX in respect of the relevant securities within the period provided for in Order 3 above be deemed to take effect as if it had been given to the ASX on 18 January 2019.

Prepared in the Victoria District Registry, Federal Court of Australia Level 7, Owen Dixon Law Courts, 305 William Street, Telephone 03 8600 3333

• 2 -

• In respect of the 370,370 ordinary shares in MX1 which were issued on 7 May 2019, the period of five business days referred to in s 708A(6)(a) of the Act be extended to the second business day after the day on which these orders are entered.

• A notice under s 708A(5)(e) of the Act given to the ASX in respect of the relevant securities within the period provided for in Order 5 above be deemed to take effect as if it had been given to the ASX on 14 May 2019.

• The Applicant provide a copy of these Orders to:

• a. the ASX; and

• b. the persons to whom the securities referred to in Orders 1, 3 and 5 were issued, forthwith.

• Any person who claims to have suffered substantial injustice or is likely to suffer substantial injustice by the making of any or all of the orders has liberty to apply to vary or to discharge them within 28 days of the entry of orders.

• There be no order as to costs.

Date that entry is stamped: 27 May 2019

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Prepared in the Victoria District Registry, Federal Court of Australia Level 7, Owen Dixon Law Courts, 305 William Street, Telephone 03 8600 3333