MICRO-X LIMITED — Capital/Financing Update 2026

Mar 9, 2026

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FIRST FULL BODY CT LABORATORY TEST BENCH COMPLETED

$1.6M milestone payment from collaboration partner ARPA-H

Adelaide, Australia, 10 March 2026: 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 achievement of a $1.6M project milestone under the Development Agreement with the U.S. Government’s Advanced Research Projects Agency ( ARPA-H ), with the completion of a Full Body CT laboratory test bench.

Key points:

• Project milestone with completion of the first Full Body CT laboratory test bench

• Achieves Milestone 6 in ARPA-H Development Agreement - $1.6M payment to Micro-X

• Full Body CT Programme moves into critical design review phase

Micro-X has completed the first Full Body CT Test Bench, an engineering milestone under its development agreement with US Government research organisation ARPA-H. The completion of this sixth milestone secures a $1.6M (US$1.14M) payment to Micro-X.

This achievement follows the recently completed preliminary design review, confirming system architecture and enabling the transition from early prototyping into full physical system development. The Full Body CT program now moves into its next phase focused on validating this test bench in the laboratory, refining the system architecture, and strengthening the platform to support future clinical readiness.

The completion of the first Full Body CT laboratory test bench represents a meaningful derisking of the ARPA-H program as the work in the first phase of the contract continues. As with all novel, high technology products, there remains substantial development, validation and integration activities as the program progresses through the balance of phase one this year.

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

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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. Electronically controlled emitters enable 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 design a next generation airport security checkpoint. A miniature brain CT imager for prehospital 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 Government agency ARPA-H. For more information visit: www.micro-x.com

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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Contacts

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