MICRO-X LIMITED — Capital/Financing Update 2019

May 21, 2019

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

==> picture [127 x 37] intentionally omitted <==

ABN: 21 153 273 735

Wednesday 22nd May 2019

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

CLEANSING NOTICE FOR CAPITAL RAISE ANNOUNCED 24 DECEMBER 2018

Micro-X Limited (ASX: MX1) ( Company ) refers to the successful private placement of 7.4M Ordinary Shares to raise A$2,000,000 at an issue price of $0.27 per new Share (the 'Issue' ) as announced to the market on 24 December 2018. The placement shares were quoted on ASX on 03 January 2019.

Through an inadvertent administrative oversight, a cleansing notice under section 708A(5)(e) of the Corporations Act was not given to ASX within 5 business days after the days of issue of the placement shares.

The Company through its legal advisers has applied to the Federal Court for orders that: (a) the period of five days in which to lodge the cleansing notice be extended to the second business day after orders are made, and (b) a cleansing notice that is lodged within that extended timeframe will take effect as if it had been lodged within time.

The Company will make a further announcement after the Court confirms the date on which the application will be heard.

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.