MICRO-X LIMITED — Capital/Financing Update 2022

Aug 31, 2022

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Micro-X Limited, ABN 21 153 273 735

COMMERCIAL LAUNCH OF NEXT GENERATION ROVER PLUS

Rover Plus with in-house generator and new tube – greater imaging capability in an identical form factor

Adelaide, Australia, 1[st] September 2022: Australian hi-tech company Micro-X Ltd (ASX:MX1) ( Micro-X or the Company ), a leader in cold cathode x-ray technology for health and security markets globally, is pleased to announce the commercial launch of its next generation Micro-X Rover mobile x-ray, which incorporates both the in-house designed and manufactured generator and an extended capability x-ray tube.

Key Points

• Commercial launch of the Micro-X Rover Plus - next generation of Rover mobile DR unit

• First orders of Rover Plus from Israeli distributor Inframed and Rover Plus imaging chain sold to DMS

• Rover Plus offers significantly extended imaging capabilities – well-suited for demanding imaging environments such as operating theatres and emergency departments

• Customer features expected to drive higher sales demand – in house generator improves product margin

• Self-certification process underpinned by exceptional internal quality controls and operating procedures

Micro-X is pleased to confirm that it has launched its next generation Micro-X Rover, the Rover Plus, with first orders received from DMS in France and Inframed in Israel. The Rover Plus introduces the next generation of proprietary Micro-X NEX based tubes, greatly increasing the overall imaging capability of the mobile x-ray unit.

The Micro-X Rover Plus delivers significant customer benefits over currently available mobile x-ray units, carrying the existing benefits of the first-generation Rover’s smaller size and enhanced manoeuvrability to the next level with greater imaging capability from an increase in x-ray output. The increased output makes the Rover Plus highly suitable for specialised imaging needs in emergency departments, operating theatres, and military deployed hospitals. The shift from a third-party supplied generator, which has been the most expensive component in the Rover, to the Micro-X high-powered generator will also deliver strong margin improvement.

Micro-X obtained 510(k) clearance under a Note to File for the Rover Plus as the technical file remained largely unchanged from the previous generation Rover, with the flat panel detector sourced from Varex Imaging, cleared for sale in the United States since May 2021. This process involved an internal reliability and verification test on the high-power generator and x-ray tube and was enabled by the Company’s high quality internal controls and standard operating procedures. Micro-X is currently progressing its European CE mark certification for the first generation Rover, and once granted, an extension for the Rover Plus will be sought via an addendum filing.

Micro-X’s Managing Director, Peter Rowland, commented:

“ The launch of our next generation product in our Mobile DR range is the culmination of many months of amazing innovation and hard work from our technical and regulatory teams, who have combined to make this next generation Rover a reality. We are excited to ramp up our marketing and outreach activities to our customers and believe that our Mobile DR range offers compelling product features at competitive pricing. This is another demonstration of Micro-X’s dedication to continuous innovation across its technologies and product solutions .”

This ASX Announcement is authorised by the Board of Micro-X

Micro-X Limited, ABN 21 153 273 735, 1284 South Road, Tonsley, South Australia, 5042, AUSTRALIA

www.micro-x.com

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About Micro-X

Micro-X Limited (the Company ) is an ASX listed hi-tech company developing and commercialising a range of innovative products for global health and security markets, based on proprietary cold cathode, carbon nanotube (CNT) emitter technology. The electronic control of emitters with this technology enables x-ray products with significant reduction in size, weight, and power requirements, enabling greater mobility and ease of use in existing x-ray markets and a range of new and unique security and defence applications. Micro-X has a fully vertically integrated design and production facility in Adelaide, Australia. A growing technical and commercial team based in Seattle is rapidly expanding Micro-X’s US business.

Micro-X’s product portfolio is built in four, high margin, product lines in health and security. The first commercial mobile digital radiology products are currently sold for diagnostic imaging in global healthcare, military, and veterinary applications. An X-ray Camera for security imaging of Improvised Explosive Devices is in advanced development. The US Department of Homeland Security has selected Micro-X to design a next-generation Airport Checkpoint Portal with self-service x-ray. A miniature brain CT imager for pre-hospital stroke diagnosis in ambulances, is being developed with funding from the Australian Government’s Medical Research Future Fund.

For more information visit: www.micro-x.com

CONTACTS

Micro-X Limited	Investor Enquiries
Peter Rowland, Managing DirectorKingsley Hall, CFO and Company SecretaryRebecca Puddy, Head of Corporate CommunicationsTel: +61 8 7099 3966E:media@micro-x.com	David Allen / John GrangerHawkesbury PartnersTel: +61 2 9103 9494E:dallen@hawkesburypartners.com jgranger@hawkesburypartners.com

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

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