MICRO-X LIMITED — Regulatory Filings 2021

Jun 30, 2021

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Micro-X Limited, ABN 21 153 273 735

MICRO-X ROVER LAUNCHED IN VETERINARY MARKET - FIRST AUSTRALIAN VET SALE

Medical Plus appointed as non-exclusive distributor for Australian veterinary market

Adelaide, Australia, 1[st] July 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 the launch of a new version of the Rover Mobile DR for use in small-animal veterinary hospitals.

Highlights:

• Micro-X Rover Veterinary mobile DR unit launched with first sale in the small-animal veterinary market

• New state-of-the-art imaging software from Varex tailored for small animal exams

• Australia is launch market and veterinary distributor now appointed

• Veterinary treatment for companion animals is a multi-billion market globally - estimated $2.6 B annually in Australia alone

Global Veterinary Market opportunity

The healthcare of companion animals or household pets, is a large, mature and growing multi-billion dollar market globally. Similar to human health, veterinarians frequently use radiology for diagnosis and treatment planning. Many technological advances in ultrasound imaging, anaesthesia and diagnostic equipment, first developed for human medicine, have in recent years been adopted in veterinary practices, however the uptake of digital X-ray technology has not progressed to the same extent. There is a large and growing market for veterinarians seeking improved and more cost-effective diagnostic x-ray imaging.

In Australia in 2019, $2.6 billion was spent by pet owners on vet services in local vet clinics and specialist animal hospitals, with nearly two thirds of households reporting having a pet. The range and costs of treatments for pets has grown significantly due to trends in pet insurance, higher household incomes, and a demand for more extensive clinical treatments. Globally, particularly in the developed world, there are similar trends of growing ownership of companion animals and with it, a rapid expansion in veterinary treatment options and expenditure. This also improves the value proposition for a wider range of vet clinics to invest in more capable X-ray equipment.

Micro-X believes that the trend experienced in human radiology away from fixed x-ray rooms in hospitals towards having mobile imaging procedures performed in ICUs, EDs, and ORs can create similar improvements in workflow and efficiency in veterinary hospitals where most radiology is still currently performed in dedicated x-ray rooms. Micro-X has collaborated in recent months in a trial with a local veterinary hospital in South Australia to study how new radiology workflows with Rover, a highly mobile digital x-ray, can deliver faster and better quality x-rays along with more convenience for the veterinary doctors and nurses using it.

Micro-X Rover Veterinary Mobile DR

The current Rover x-ray cart has been slightly modified for the veterinary market and a new user interface and imaging software has been sourced through an extension of Micro-X’s existing partnership with Varex Imaging Corporation of Salt Lake City, Utah. Varex Imaging is a leading innovator, developer and manufacturer of x-ray imaging components and software for the x-ray industry and makes around 23,000 imaging detectors annually, supplying many major radiography brands. Varex tailored a new imaging software suite and veterinary user interface specially for the Rover and Micro-X will roll out this new product globally under its own brand.

Andrew Hartmann, Senior Vice President at Varex Imaging said “ Varex Imaging Corporation is excited to announce that our collaboration with MICRO-X has now resulted in the first ever sale of this new veterinary system including our

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

www.micro-x.com

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Nexus DR and 4343W Gen5 Detector. We are looking forward to a great partnership supporting Micro-X’s innovative technologies with our own innovations in digital imaging.”

Market entry strategy – First Australian sale and Veterinary Distributor

Micro-X will adopt both a direct and a distributor sales and product support model in the key markets for the Rover Veterinary mobile DR unit, utilising the existing footprint and sales force where possible.

Medical Plus Pty Ltd, a nation-wide veterinary sales and distribution company specialising in diagnostic imaging, has been appointed as a non-exclusive distributor for a three-year term.

Australia is the launch market and the first sale of a Rover has now been made to a rapidly growing practice near Adelaide. The Gawler Animal Hospital’s Dr Steve Crouch commented “The Rover has really taken our radiology to a new level, especially in the OR. It increases risk to move an anaesthetised animal in the middle of a surgical procedure but now I can quickly and easily bring the Rover into the operating room to get an x-ray and this has really helped get better clinical outcomes. The staff love how easy it is to use and we can re-purpose our old x-ray room as another procedure area.”

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

“As we continue to innovate our proprietary mobile DR platform we are very excited to now be launching into the smallanimal veterinarian market with own branded and customised unit. Rover is a highly competitive offering for animal hospitals seeking to move into high-quality digital radiology and offers practice owners considerable savings in outlay as well as cost-saving workflow benefits. There are around 3,000 veterinary practices in Australia alone and each of these has an x-ray capability of some sort. As the adoption of DR gathers pace we expect this will be another key niche-sector for our technology.

We are proud to have launched the Rover Veterinary mobile DR unit in our home market with our first sale and to have appointed a well regarded Australian distributor. We will take learnings from the Australian market on board as we plan our roll out for the veterinary market in other regions.”

This ASX Announcement is authorised by the Board 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 two mobile digital medical x-ray systems being sold commercially for diagnostic healthcare applications and Micro-X medical products are now in operation in 14 countries around the world.

Micro-X has a portfolio of innovative products in development, including the MBI for imaging Improvised Explosive Devices in security, defence and counter-terrorism applications; a next-generation self-service X-Ray Airport Checkpoint Portal with an integrated body scanner; and a lightweight brain CT imager for early stroke diagnosis in ambulances. Micro-X has its core R&D, engineering and production capability in Adelaide, Australia with a fully in-sourced CNT tube manufacturing line and approximately 95% Australian locally manufactured content.

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

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CONTACTS

Micro-X Limited	Investor Enquiries
Peter RowlandManaging DirectorTel: +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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