MICRO-X LIMITED — Capital/Financing Update 2025

Feb 17, 2025

Appendix 3B - Proposed issue of securities

==> picture [21 x 22] intentionally omitted <==

Update Summary Entity name MICRO-X LIMITED Announcement Type Update to previous announcement Date of this announcement 18/2/2025 Reason for update to a previous announcement Change to number of Shares issued through Placement Refer to next page for full details of the announcement

Appendix 3B - Proposed issue of securities

1 / 9

Appendix 3B - Proposed issue of securities

==> picture [21 x 22] intentionally omitted <==

Part 1 - Entity and announcement details

1.1 Name of +Entity

MICRO-X LIMITED

We (the entity named above) give ASX the following information about a proposed issue of +securities and, if ASX agrees to +quote any of the +securities (including any rights) on a +deferred settlement basis, we agree to the matters set out in Appendix 3B of the ASX Listing Rules.

If the +securities are being offered under a +disclosure document or +PDS and are intended to be quoted on ASX, we also apply for quotation of all of the +securities that may be issued under the +disclosure document or +PDS on the terms set out in Appendix 2A of the ASX Listing Rules (on the understanding that once the final number of +securities issued under the +disclosure document or +PDS is known, in accordance with Listing Rule 3.10.3C, we will complete and lodge with ASX an Appendix 2A online form notifying ASX of their issue and applying for their quotation).

1.2 Registered Number Type

Registration Number

ABN 21153273735

1.3 ASX issuer code

MX1

1.4 The announcement is

Update/amendment to previous announcement

1.4a Reason for update to a previous announcement

Change to number of Shares issued through Placement

1.4b Date of previous announcement to this update

6/2/2025

1.5 Date of this announcement

18/2/2025

1.6 The Proposed issue is:

An accelerated offer A placement or other type of issue

1.6b The proposed accelerated offer is

Accelerated non-renounceable entitlement offer (commonly known as a JUMBO or ANREO)

Appendix 3B - Proposed issue of securities

2 / 9

Appendix 3B - Proposed issue of securities

==> picture [21 x 22] intentionally omitted <==

Part 3 - Details of proposed entitlement offer issue

Part 3A - Conditions

3A.1 Do any external approvals need to be obtained or other conditions satisfied before the entitlement offer can proceed on an unconditional basis? No

Part 3B - Offer details

+Class or classes of +securities that will participate in the proposed issue and +class or classes of +securities proposed to be issued

ASX +security code and description

MX1 : ORDINARY FULLY PAID

Is the proposed security a 'New class' (+securities in a class that is not yet quoted or recorded by ASX) or an 'Existing class' (additional securities in a class that is already quoted or recorded by ASX)? Existing class

Will the proposed issue of this If the entity has quoted company +security include an offer of options, do the terms entitle option attaching +securities? holders to participate on exercise? No No

Details of +securities proposed to be issued

ASX +security code and description

MX1 : ORDINARY FULLY PAID

ISIN Code (if Issuer is a foreign company and +securities do not have +CDIs issued over them)

ISIN Code for the entitlement or right to participate in the offer (if Issuer is foreign company and +securities do not have +CDIs issued over them)

Offer ratio (ratio to existing holdings at which the proposed +securities will be issued) Has the offer ratio been determined? Yes

The quantity of additional +securities For a given quantity of +securities to be issued held 1 10

Maximum number of +securities

Appendix 3B - Proposed issue of securities

3 / 9

Appendix 3B - Proposed issue of securities

==> picture [21 x 22] intentionally omitted <==

What will be done with fractional proposed to be issued (subject to entitlements? rounding) 58,371,999 Fractions rounded up to the next whole number

Offer price details for retail security holders

Has the offer price for the retail offer been determined? Yes

In what currency will the offer be What is the offer price per +security made? for the retail offer? AUD - Australian Dollar AUD 0.07000

Offer price details for institutional security holders

Has the offer price for the institutional offer been determined? Yes

In what currency will the offer be What is the offer price per +security made? for the institutional offer? AUD 0.07000 AUD - Australian Dollar

Oversubscription & Scale back details

Will individual +security holders be permitted to apply for more than their entitlement (i.e. to over-subscribe)? Yes

Describe the limits on over-subscription

The Company reserves the right to accept oversubscriptions under the Entitlement Offer and eligible shareholders will be entitled to bid for additional Shares up to 4 times their entitlement (subject always to the control restrictions under the Corporations Act).

Will a scale back be applied if the offer is over-subscribed? Yes

Describe the scale back arrangements

Any level of oversubscriptions not accepted will be scaled back on a pro rata basis to each participant based on the number of securities validly applied for.

Will these +securities rank equally in all respects from their issue date with the existing issued +securities in that class? Yes

Part 3D - Timetable

3D.1a First day of trading halt

31/1/2025

Appendix 3B - Proposed issue of securities

4 / 9

Appendix 3B - Proposed issue of securities

==> picture [21 x 22] intentionally omitted <==

3D.1b Announcement date of accelerated offer

6/2/2025

3D.2 Trading resumes on an ex-entitlement basis (ex date) 10/2/2025

3D.5 Date offer will be made to eligible institutional +security holders

6/2/2025

3D.6 Application closing date for institutional +security holders

7/2/2025

3D.8 Announcement of results of institutional offer

(The announcement should be made before the resumption of trading following the trading halt)

10/2/2025

3D.9 +Record date

10/2/2025

3D.10a Settlement date of new +securities issued under institutional entitlement offer 17/2/2025

3D.10b +Issue date for institutional +security holders

18/2/2025

3D.10c Normal trading of new +securities issued under institutional entitlement offer

19/2/2025

3D.11 Date on which offer documents will be sent to retail +security holders entitled to participate in the +pro rata issue

13/2/2025

3D.12 Offer closing date for retail +security holders

28/2/2025

3D.13 Last day to extend retail offer close date

25/2/2025

3D.19 +Issue date for retail +security holders and last day for entity to announce results of retail offer 6/3/2025

Appendix 3B - Proposed issue of securities

5 / 9

Appendix 3B - Proposed issue of securities

==> picture [21 x 22] intentionally omitted <==

Part 3E - Fees and expenses

3E.1 Will there be a lead manager or broker to the proposed offer? Yes

3E.1a Who is the lead manager/broker?

Morgans Corporate and Hawkesbury Partners

3E.1b What fee, commission or other consideration is payable to them for acting as lead manager/broker?

6% of total proceeds of the Offer.

3E.2 Is the proposed offer to be underwritten? No

3E.3 Will brokers who lodge acceptances or renunciations on behalf of eligible +security holders be paid a handling fee or commission? No

3E.4 Details of any other material fees or costs to be incurred by the entity in connection with the proposed offer

Part 3F - Further Information

3F.1 The purpose(s) for which the entity intends to use the cash raised by the proposed issue

Activities in Medical CT, progression of the Head CT through trials to approval, execution of partnership strategies in security and working capital.

3F.2 Will holdings on different registers or subregisters be aggregated for the purposes of determining entitlements to the issue?

No

3F.3 Will the entity be changing its dividend/distribution policy if the proposed issue is successful? No

3F.4 Countries in which the entity has +security holders who will not be eligible to participate in the proposed issue

Singapore, United States, Canada, United Kingdom, Japan, Malaysia, Hong Kong

3F.5 Will the offer be made to eligible beneficiaries on whose behalf eligible nominees or custodians hold existing +securities No

3F.6 URL on the entity's website where investors can download information about the proposed issue https://www.micro-x.com/investor-hub

3F.7 Any other information the entity wishes to provide about the proposed issue

3F.8 Will the offer of rights under the rights issue be made under a +disclosure document or product disclosure statement under Chapter 6D or Part 7.9 of the Corporations Act (as applicable)? No

3F.9 Any on-sale of the +securities proposed to be issued within 12 months of their date of issue will comply with the secondary sale provisions in sections 707(3) and 1012C(6) of the Corporations Act by virtue of: The publication of a cleansing notice under section 708A(5), 708AA(2)(f), 1012DA(5) or 1012DAA(2)(f)

Appendix 3B - Proposed issue of securities

6 / 9

Appendix 3B - Proposed issue of securities

==> picture [21 x 22] intentionally omitted <==

Part 7 - Details of proposed placement or other issue

Part 7A - Conditions

7A.1 Do any external approvals need to be obtained or other conditions satisfied before the placement or other type of issue can proceed on an unconditional basis? No

Part 7B - Issue details

Is the proposed security a 'New class' (+securities in a class that is not yet quoted or recorded by ASX) or an 'Existing class' (additional securities in a class that is already quoted or recorded by ASX)? Existing class

Will the proposed issue of this +security include an offer of attaching +securities? No

Details of +securities proposed to be issued

ASX +security code and description

MX1 : ORDINARY FULLY PAID

Number of +securities proposed to be issued

28,600,002

Reason for the update of 'Number of +securities proposed to be issued'

Change in number of Shares to be issued under the Placement.

Offer price details

Are the +securities proposed to be issued being issued for a cash consideration? Yes

In what currency is the cash What is the issue price per consideration being paid? +security? AUD - Australian Dollar AUD 0.07000

Will these +securities rank equally in all respects from their issue date with the existing issued +securities in that class? Yes

Appendix 3B - Proposed issue of securities

7 / 9

Appendix 3B - Proposed issue of securities

==> picture [21 x 22] intentionally omitted <==

Part 7C - Timetable

7C.1 Proposed +issue date

18/2/2025

Part 7D - Listing Rule requirements

7D.1 Has the entity obtained, or is it obtaining, +security holder approval for the entire issue under listing rule 7.1? No

7D.1b Are any of the +securities proposed to be issued without +security holder approval using the entity's 15% placement capacity under listing rule 7.1? Yes

7D.1b ( i ) How many +securities are proposed to be issued without security holder approval using the entity's 15% placement capacity under listing rule 7.1?

25,742,859

7D.1c Are any of the +securities proposed to be issued without +security holder approval using the entity's additional 10% placement capacity under listing rule 7.1A (if applicable)? No

7D.2 Is a party referred to in listing rule 10.11 participating in the proposed issue? Yes

7D.3 Will any of the +securities to be issued be +restricted securities for the purposes of the listing rules? No

7D.4 Will any of the +securities to be issued be subject to +voluntary escrow? No

Part 7E - Fees and expenses

7E.1 Will there be a lead manager or broker to the proposed issue? Yes

7E.1a Who is the lead manager/broker?

Morgans Corporate and Hawkesbury Partners

7E.1b What fee, commission or other consideration is payable to them for acting as lead manager/broker?

6% of total proceeds of the Offer.

7E.2 Is the proposed issue to be underwritten? No

7E.4 Details of any other material fees or costs to be incurred by the entity in connection with the proposed issue

Part 7F - Further Information

7F.01 The purpose(s) for which the entity is issuing the securities

Commercial activities in Medical CT, progression of the Head CT through trials to approval, execution of partnership strategies in security and working capital.

Appendix 3B - Proposed issue of securities

8 / 9

Appendix 3B - Proposed issue of securities

==> picture [21 x 22] intentionally omitted <==

7F.1 Will the entity be changing its dividend/distribution policy if the proposed issue proceeds? No

7F.2 Any other information the entity wishes to provide about the proposed issue

7F.3 Any on-sale of the +securities proposed to be issued within 12 months of their date of issue will comply with the secondary sale provisions in sections 707(3) and 1012C(6) of the Corporations Act by virtue of: The publication of a cleansing notice under section 708A(5), 708AA(2)(f), 1012DA(5) or 1012DAA(2)(f)

Appendix 3B - Proposed issue of securities

9 / 9