MICRO-X LIMITED — Investor Presentation 2021

Sep 8, 2021

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Micro-X Limited, ABN 21 153 273 735

INVESTOR PRESENTATION TO SHARECAFÉ SMALL CAPS WEBINAR

Friday 10 September 2021, 12.30pm (AEDT)

Adelaide, Australia, 9 September 2021: 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, announces that the Company’s CEO and Managing Director, Peter Rowland, will be presenting at the ShareCafé Small Cap “Hidden Gems” webinar at 12.30pm on Friday 10 September 2021 (AEDT).

Micro-X CEO and Managing Director, Peter Rowland, will provide the attached presentation on the Company, followed by a question and answer session.

To register to attend this free investor event, please use the following link:

https://us02web.zoom.us/webinar/register/5416151767246/WN_VlZUS1yxTfiigIcSgtg4jg

The Company’s presentation for the conference is attached.

This ASX Announcement is approved by Kingsley Hall, Company Secretary of Micro-X.

– ENDS –

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 Director Tel: +61 8 7099 3966 E:admin@micro-x.com	David Allen / John Granger Hawkesbury Partners Tel: +61 2 9103 9494 E:dallen@hawkesburypartners.com jgranger@hawkesburypartners.com

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

www.micro-x.com

A C N 1 5 3 2 7 3 7 3 5 / A S X : M X 1

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S H A R E C A F E I N V E S T O R W E B I N A R 10th September 2021

Peter Rowland Managing Director & CEO

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I M P O R T A N T N O T I C E D I S C L A I M E R

S C O P E & L I M I T A T I O N S

This Presentation has been prepared by Micro-X Limited ( Micro-X or the Company ) (ASX.MX1). The Presentation is a summary only and does not contain all the information about the Company’s assets and liabilities, financial position and performance, profits and losses and prospects. This material in this Presentation may be supplemented with an oral presentation and/or other more detailed documents and should not be taken out of context. Although the information contained herein is based upon generally available information and has been obtained from third-party sources believed to be reliable, the Company does not guarantee its accuracy, and such information may be incomplete or condensed. The Company also refers to its filings made with the ASX Limited and the Australian Securities & Investments Commission.

F O R W A R D L O O K I N G I N F O R M A T I O N

This Presentation contains forward looking and other subjective information. Such expectations, estimates, projections and in formation are not a guarantee of future performance and involve unknown risks and uncertainties. Actual results and developments will almost certainly differ from those expressed or implied and recipients of this Presentation should make their own assessment of the expectations, estimates, projections and the relevant assumptions and calculations upon which the opinions, estimates and projections are based. No representation or warranty, express or implied, is given as to the accuracy or completeness of the information or opinions contained in this Presentation and no liability whatsoever is accepted by the Company, or its directors, members, officers, employees, agents or advisers for any use or, or reliance placed upon, such information or opinions.

N O T A N O F F E R F O R S E C U R I T I E S

This Presentation is not a prospectus, product disclosure statement or other offering document under Australian law (and will not be lodged with ASIC) or any other law. This Presentation does not constitute an offer, invitation, solicitation or recommendation with respect to the purchase or sale of any shares nor does it constitute financial product or investment advice nor take into account your investment objectives, taxation situation, financial situation or needs. An investor must not act on the basis of any matter contained in this Presentation but must make its own assessment of the Company and conduct its own investigations and analysis. Before making an investment in the Company, a prospective investor should consider whether such an investment is appropriate to their particular investment objectives and

financial situation and seek appropriate advice, including legal, taxation and financial advice appropriate to their jurisdiction and circumstances.

U N I T E D S T A T E S

The Company’s securities have not been and will not be registered under the U.S. Securities Act of 1933, as amended (the Securities Act ), or under the securities laws of any state or other jurisdiction of the

United States. Accordingly, the Company’s securities may not be offered or sold, directly or indirectly, within the United States or to, or for the account of benefit of, U.S. Persons (as defined in Regulation S under the Securities Act as amended). This Presentation may not be distributed within the United States or to any person in the United States

O T H E R J U R I S D I C T I O N S

This Presentation may only be accessed in other jurisdictions where it is legal to do so.

M I N I A T U R I S I N G X - R A Y First Mover in Next Generation X-ray for Global Health and Security Markets

Platform technology in cold cathode x-ray

• X-ray products with significant reduction in size, weight and power

• Patented technology – platform for health and new security applications

• First to market with proven cold cathode medical x-ray product

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25kg
Comparison
Conventional x-ray tube and Micro-X x-ray tube
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O U R S T R A T E G Y To Monetise Our ‘First Mover’ Advantage

Successful first movers in breakthrough technology move quickly: Early Commercial success becomes a barrier commercial to entry for others domination OUR GOAL Four global production lines Create required paths to – common technology platforms market at scale – high-margin Platform – operating within five years Expand channel Look for low partners & hanging fruit technology in cold collaborations products OUR 4 PRODUCT LINES Mobile DR cathode x-ray Bedside imaging – Medical, Military, Vet IED X-ray Camera Our technology delivers a Counter terrorist bomb assessment Commercialise high in the value customer benefit and the chain to maximise revenue best product margins Airport Checkpoint - Commercialise avoid commoditisation as long as Self-service airport security high in the possible - value chain Brain CT keep innovating to stay in front of In-ambulance stroke imaging competitors

M O B I L E D I G I T A L R A D I O L O G Y Extending Bedside Imaging with Lightweight and Ultra-mobility

$3.6m Sales FY21

4 New Distributors Signed

2021

Rover Mark II Launched

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THE PRODUCT RANGE

OEM Products – ‘Carestream DRX-Revolution Nano’

• First sold 2018 – now operating in 20+ countries

• Other, non exclusive OEM partnerships in development

Micro-X ‘Rover’ – wholly Micro-X branded and controlled imaging solution for:

• Medical hospitals & temporary facilities

• Ruggedised for deployed military hospitals and humanitarian aid

• Veterinary applications in small-animal hospitals and specialist clinics

I E D X - R A Y C A M E R A Next Generation Security Device to Save Lives

$1.8b Addressable market

Prototype Dec 2021

2022 Target Launch

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one X-ray camera takes images like a camera - sided viewing without separate detector Bomb disposal technicians face life threatening situation when ‘over the target’ placing a conventional x-ray detector Small size and weight – easily carried by robots Australian Defence Force proof of concept imaging completed Military and FBI / bomb disposal interest No competition = higher gross margins

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Traditional x-ray of IEDs requires manual placement of separate detector

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First public showing of IED X-Ray Camera at Army Robotics Conference in April 2021

A I R P O R T S E L F - S E R V I C E C H E C K P O I N T US Dept. of Homeland Security – Two Contracts Totalling US$4m

US$24b

Addressable market

US$4m

Two contracts for US Dept of Homeland Security

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A blend of backscatter and transmission x-ray to provide three-dimensional imaging of carry on luggage

Integrated body scanner and passport reader Based on work Micro-X undertook in 2 contracts won from UK’s Department for Transport Concept reimagines the future of airport checkpoints based on self-service model Addressable global market ~ US$24B TSA alone US$8B market opportunity

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Above: Illustration of Future Airport Checkpoint Portal

B R A I N C T I M A G I N G F O R S T R O K E D I A G N O S I S Pre-Hospital Diagnosis & Treatment in Ambulance

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CT imaging with no moving parts – small enough and affordable to be fitted to every ambulance

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US$5b

Addressable market

Early stroke diagnosis allows treatment in a road or ambulance – improved patient outcomes within the ‘Golden Hour’

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$8m

Curved detector will be the first of its kind – provided in collaboration with Fujifilm $8m funding under Second Phase of Australian Stroke Alliance Project – Medical Research Future Fund

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Australian Stroke Alliance – MRFF funding

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P A R T N E R S

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Potential to be a game changer in modern stroke management with addressable market ~$5b

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Above: Illustration of curved CT scanner in ambulance setting

S I G N I F I C A N T M A R K E T S A C R O S S F O U R P R O D U C T I O N L I N E S

Sequenced Product Rollout as CNT Manufacturing Expands

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Mobile DR Range

IED X-Ray Camera

Airport Checkpoint

Brain CT Scanner

First Sales 2018 Addressable Market US$500m pa[*]

First Sales 2022[*] Addressable Market US$1.8b

First Sales 2023[*] Addressable Market

USA: US$8b RoW: US$16b

First Sales 2026[*] Addressable Market US$5b

• These dates are estimates and may vary

• Pre COVID-19 levels

E S T A B L I S H E D C A P A B I L I T I E S Key Disciplines – Engineering Design, Development and Manufacturing

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M I L E S T O N E S & A C H I E V E M E N T S Initiatives to Deliver Commercial Outcomes for all Stakeholders

First IED X-Ray Camera Demonstration Grow Micro-X Rover Paths to Market – US, EMEA In-sourced Generator Tested Launch Rover Veterinary Rover Mk II – Second Generation Launched Airport Security Contracts Signed Brain CT Scanner Contract Signed

IED X-Ray Camera Prototype Increased Mobile DR Sales Scaling X-Ray Tube Manufacturing IED X-Ray Camera Commercialisation Brain CT Scanner Prototype Airport Security Scanner Prototype Airport Security Portal Prototype

A C N 1 5 3 2 7 3 7 3 5 / A S X : M X 1

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T H A N K Y O U Peter Rowland Managing Director & CEO

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E X P E R I E N C E D L E A D E R S H I P Technical and Commercial Expertise to Support Our Objectives

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Peter Rowland David Knox Managing Director &CEO Non-Executive Chairman

Patrick O’Brien

Non-Executive Director

Yasmin King Non-Executive Director

Dr Alexander Gosling, AM Jim McDowell Non-Executive Director Non-Executive Director

• Over 30 years’ • Extensive international engineering and business experience management in delivering large energy medical device & and projects aerospace industries

• Formerly CEO of

• • Previously BAE Santos and Australian Systems, Ellex Medical Naval Infrastructure and Biolase • Chair of Snowy Hydro,

• Technology (NASDAQ)

• Chair of Snowy Hydro, Director of CSIRO

• Over 25 years’ business and finance experience in UK, Asia and Australia

• Former Executive Director at Macquarie Group; McKinsey; and Minter Ellison

• Extensive experience in business, negotiation & procurement and Government

• Currently CEO of Skills IQ, formerly Associate Commissioner of ACCC

• Director of the Australian Healthcare and Hospitals Association

• Over 40 years’ business, technology and R&D experience

• A founding Director at Invetech (Vision Systems); strategy for Capstone

• Extensive experience in Defence and Aerospace industries

• Current CEO of Nova Group

• Former Chief Executive of the Department of Premier for South Australia

CORPORATE SNAPSHOT Growth Stage Company with Institutional Support

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MX1 - Share Trading (1 September 2020 to 8 September 2021)
$0.45 12.0
$0.40
10.0
$0.35
$0.30 8.0
$0.25
6.0
$0.20
$0.15 4.0
$0.10
2.0
$0.05
$0.00 0.0
01 Sep 15 Sep 29 Sep 13 Oct 27 Oct 10 Nov 24 Nov 08 Dec 22 Dec 05 Jan 19 Jan 02 Feb 16 Feb 02 Mar 16 Mar 30 Mar 13 Apr 27 Apr 11 May 25 May 08 Jun 22 Jun 06 Jul 20 Jul 03 Aug 17 Aug 31 Aug
Millions
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Volume Price

Share & Trading Statistics (Closing Price on 8 September 2021) Share Price $0.295 per share Total Shares On Issue 459.7 million Options Issued 2.5 million Market Cap ~$135.6m

Key Financials & Shareholders

Cash ~$30.1m (30 June 2021) – Debt free ~40.0% Institutions Perennial (13.5%), Regal (8.9%), Thorney (5.7%), AusSuper (5.2%) Board & Related Parties ~ 4.8%

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