MICRO-X LIMITED — Capital/Financing Update 2025

Sep 23, 2025

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$2.5 MILLION CHECKPOINTS CONTRACT EXTENSION WITH DHS

Additional funding for Micro-X to advance self-screening detection algorithms

Adelaide, Australia, 24 September 2025: 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 its U.S. subsidiary Micro-X Inc has been awarded a further optional contract extension of up to $2.5M by the U.S. Department of Homeland Security ( DHS ) to advance Passenger Self-Screening Checkpoint detection algorithms. This $2.5M of DHS funding is subject to milestones with $0.4M immediately committed.

Key points:

• $2.5M (US$1.7M) contract extension awarded by U.S. Department of Homeland Security

• Extends Self-Screening Checkpoint development contract to advance detection algorithms

• Extension takes Micro-X’s total contracted value with DHS to up to $31.7M (US$20.9M)

• Micro-X contracted payments for FY2026 onwards now up to $18.3M

Micro-X CEO Kingsley Hall commented:

“We welcome this additional extension of our work with DHS in the Passenger Self-Screening Checkpoint, bringing total funding under the DHS contracts to up to $31.7M. This funding will go towards the further advancement of our detection software, a critical element of an effective Checkpoint. We are focused on delivering a next generation airport security screening solution that not only improves the passenger experience but also helps the TSA stay ahead of evolving threats to keep the travelling public safe.”

Micro-X Inc, the Company’s U.S. subsidiary, continues to progress its development work with the DHS under the contract for the Passenger Self-Screening Checkpoint Portal, which was initiated in November 2020 and extended by up to $21.0M (U.S.$14.0M) in July 2023. Currently, there is one Micro-X Checkpoint and a further two baggage scanners being tested in the TSA test laboratory, with Micro-X, Inc. also contracted to supply an additional two Checkpoints to progress towards testing in a live airport setting.

This latest contract extension with DHS will accelerate the software and machine learning activities to further improve threat detection. This is a highly confidential and classified extension of the Micro-X technology.

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

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Micro-X Ltd. ABN 21 153 273 735, A14, 6 MAB Eastern Promenade, Tonsley, South Australia 5042 www.micro-x.com

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About Micro-X

Micro-X Limited 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 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 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 spans four, high margin, product applications in health and security. The first mobile digital radiology products are currently sold for diagnostic imaging in global healthcare, military and veterinary applications. The US Department of Homeland Security has contracted Micro-X to create a next generation airport security checkpoint. A miniature brain CT scanner for stroke diagnosis in ambulances is being developed with funding from the Australian Government’s Medical Research Future Fund. Micro-X is developing a full body CT under contract by US agency ARPA-H.

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

Contacts

Micro-X Limited	Investor Enquiries
Kingsley Hall, Chief Executive Officer Rebecca Puddy, Head of Corporate Communications Tel: +61 8 7099 3966 Email: media@micro-x.com	David Allen/John Granger Hawkesbury Partners Tel: 0410 577 155 Email: dallen@hawkesburypartners.com jgranger@hawkesburypartners.com

Micro-X Ltd. ABN 21 153 273 735, A14, 6 MAB Eastern Promenade, Tonsley, South Australia 5042 www.micro-x.com