MICRO-X LIMITED — Capital/Financing Update 2022

Apr 3, 2022

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Micro-X Limited, ABN 21 153 273 735

MICRO-X COLLABORATES WITH DMS IMAGING TO SUPPLY COLD CATHODE IMAGING CHAIN

French specialist medical X-ray company DMS Imaging to use Micro-X technology in new X-ray imaging products

Adelaide, Australia and Gallargues le Montueux , France, 4[th] April 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 that the Company has created a new sales channel for its technology with the signing of a collaboration agreement where Micro-X’s revolutionary cold cathode X-ray tubes, generators and imaging chain systems will be sold to French listed DMS Imaging SA (Euronext Brussels - ISIN: BE0974289218 - Ticker: DMSIM) for incorporation into new x-ray imaging products which DMS Imaging is developing for global markets.

Key Points

• Collaboration and supply agreement executed with DMS Imaging, French x-ray manufacturer with a range of imaging products sold by 120 distributors across 140 countries – annual turnover over A$54m

• New sales channel created - selling Micro-X Rover cold cathode X-ray and imaging chain sub-systems

• DMS Imaging will create new products delivering additional volumes and strong manufacturing revenues for Micro-X

On 1st April 2022, Mobile DR General Manager Charlie Hicks, executed a collaboration and supply agreement with DMS Imaging SA (DMS Imaging), a leading French diagnostic medical imaging company. With over 40 years of experience in the imaging and healthcare industry and over A$54M turnover (36,2 M€), DMS Imaging is a manufacturer offering a range of innovative medical solutions in radiology, bone densitometry, and stereo-radiography through its network of over 120 distributors across 140 countries and through majors such as Fujifilm Healthcare, Carestream Healthcare and Canon Medical system, under white-label branding. DMS Imaging is listed on both the Paris and Brussels Stock Exchanges.

Under the agreement, DMS Imaging will purchase imaging chain sub-systems from Micro-X which will be included as key components in the new innovative X-ray solution that will be manufactured in DMS Imaging facilities in France and planned to be launched worldwide by the end of 2023. The development project is partly funded by the French government as part of the Recovery Plan and the Future Investment Programme and the imaging chain sub-systems to be provided by MicroX include the Rover’s x-ray tube and generator.

Within the framework of this agreement, Micro-X will also have the capability to extend its Rover product offering by integrating ADAM, the proprietary imaging software solution created by DMS imaging. ADAM is a new concept of multi detector software platform that includes AI based post-processing image capabilities and new innovative workflow management which represent the state-of-the-art solution for image management in X-ray.

Recently listed on Euronext Brussels and Paris (BE0974289218 - DMSIM), DMS Imaging is expanding its product portfolio and identified the capability of Micro-X’s innovative NEX (Nanotube Electronic X-Ray) cold cathode technology over conventional x-ray tubes. DMS particularly sought to access both the smaller size and weight and superior imaging performance which this technology could bring to its new products. DMS Imaging will purchase initial quantities of imaging chain components from Micro-X to support product development and testing activities.

The sale of the imaging chain components represents a new sales channel in the Micro-X Mobile DR commercialisation portfolio, creating an additional path to market and leveraging our collaboration partner’s innovation and existing global

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

www.micro-x.com

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distribution network to increase sales revenue with further market penetration of NEX technology. Micro-X intends to prioritise strategies to increase the global adoption of its NEX Technology across many areas in radiology.

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

“We are very pleased to be collaborating with DMS Imaging as this represents another validation of Micro-X’s core, cold cathode X-ray technology by a highly regarded player in the imaging sector. We are very confident that DMS Imaging’s new products with our X-ray technology will be both competitive and innovative and further advance the market awareness of the benefits NEX technology can bring.

We will continue to work in parallel to build our own direct and channel sales capabilities for the Micro-X Rover range of X-ray imaging products whilst taking advantage of this new channel to boost production volumes of our core technology components. This collaboration greatly helps Rover’s commercialisation as it will create further awareness and broader adoption of the Micro-X technology across the imaging market.

DMS Imaging’s Managing Director, Samuel Sancerni commented:

“We are very excited to begin this collaboration with Micro-X as we will expand our product portfolio with this innovative solution which will be manufactured in France. We currently enjoy success with our R/F solution, marketed globally across various channels since 2015. Building on this momentum, we plan to add a DR mobile solution to our offering. In keeping with our vision on how to create value to customers and to bring “intelligence to the modality”, this one-of-a-kind technology aligns with our development strategy which is to provide the most advanced technologies in the medical imaging sector.

This new solution will support the future growth of our business; it will be a smart solution that will disrupt the mobile X- ray market. After the launch in 2021 of our Platinum Neo, we want to continue to bring innovation and intelligence to our equipment. Both for the medical staff but also for the patient diagnosis thus using our software platform Adam which is representing the heart of our solutions. ”

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

– ENDS –

About DMS Imaging

DMS Imaging is a French high-tech company based in the south of France specialized in medical imaging diagnostics. With more than 30 years of experience, the brands that make up DMS Imaging: Apelem , DMS , AXS Medical and Medilink offer a complete range of innovative solutions in radiology, bone densitometry, stereo-radiography and posturology, all of which are adapted to the demands of the global marketplace. Our network of over 120 distributors in over 140 countries all across the globe as well as subsidiaries and joint-ventures, contribute to the international dimension of the quality of our products. DMS Imaging generates 85% of our turnover through the exportation market.

Listed on Euronext Brussels and Paris (ISIN: BE0974289218 - Ticker: DMSIM), DMS Imaging is a subsidiary of DMS Group listed on Euronext Growth Paris (ISIN: FR0012202497 - Ticker: ALDMS).

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

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

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CONTACTS

Micro-X Limited	Investor Enquiries
Peter Rowland, Managing DirectorKingsley Hall, CFO and Company SecretaryTel: +61 8 7099 3966E:admin@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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