PRO MEDICUS LIMITED — Investor Presentation 2021

Aug 17, 2021

FY 2021 RESULTS PRESENTATION

August 2021

PRO MEDICUS (ASX:PME)

Healthcare IT company specializing in Enterprise Imaging and Radiology Information System (RIS) software.

Leading edge products, growing global presence.

RESULTS FY 2021

SALES FY21 Full Year

				University ofCalifornia
$25M/7 yearsNew Contract	$10M/7 yearsNew Contract	$18M/5 yearsNew Contract	$40M/7 yearsNew Contract	$31M/7 yearsNew Contract	$14M/8 yearsNew Contract
SEPTEMBER 2020	OCTOBER 2020	DECEMBER 2020	JANUARY 2021	FEBRUARY 2021	MAY 2021

In Review 2020-2021 Top Hospitals

FY 2021 Revenue Split

OPERATONAL (TRANSACTION) MODEL

• Used in vast majority of US contracts
• Delivered as SaaS model
• Now used in RIS contracts in AUS
• Model based on transaction minimums
• Forward revenue > A$320M/5 years*
• Upside as client examination volumes grow
• Annuity style revenue stream greater predictability

* Assumes key contracts up for renewal are renewed

$\boldsymbol{\mathsf{S}}$

EXAM (TRANSACTION) REVENUE

• Recurring in nature
• Increased by 16% YoY (28% on constant currency basis)
• Growth to continue for FY 2022 (Northwestern, NYU, Medstar & others).
• New Sites coming online in 1st Half FY22 (Intermountain, 2 UC campuses & UVM)
• Growth from existing clients (organic and M&A) plus new clients
• Further upside with adoption of new products (VISAGE 7 Open Archive and Worklist)

PROFESSIONAL SERVICES

• Project planning, training & implementation • Revenue spread over the length of the contract - new accounting standards (AASB 15) • Recurring in nature ~ 10% contract value • Data Migration as part of Visage Archive sale – once off

OPERATING LEVERAGE

• Highly scalable offering
• No capex (HW) SW only model
• Training & Installation charged as professional services
• Contained cost base
• High operating leverage
• Margin continues to grow as footprint increases

COVID-19

• PME/Visage transitioned to WFH in mid-March 2020
• Operating at 100% capacity
• Sales and marketing efforts continued throughout
• "Thinness" of the technology enabled large scale remote demonstrations
• New opportunities despite COVID restrictions.
• Visage 7 enables radiologists to seamlessly work from home
• Exam volumes back at or above pre COVID levels

VISAGE RIS

Visage RIS - Dr R Simpson (rsna) visage2 (2) @ Visage General Hospital (ris.promed.com.au)
RECEPTIONTECHNOLOGIST	DOCTOR TRANSCRIPTIONIST SEARCH	CLAIMINGOFFICESETUP			Recent $\blacktriangledown$ Dr R Simpson $\blacktriangledown$ $\bigcirc$ $\bigcirc$
Requested ArrivalAppointments	Billing Banking
RegionNorthernBook	Visage General Hospital	4 Tue, 17-Oct-2017 ▶$\triangleright$III	$\boldsymbol{z}$AM PM . Patient O Procedure Cancelled V Blocked		ResetService$1 \quad 2$
Visage X-ray	/isage CT v	Visage US Room 1	Visage US Room 2	Visage US Room 3	Visage Mammo
$\overline{\mathcal{L}}$	70	70	70	70	$\overline{\mathcal{A}}$ Q
1 Tue, 17-Oct-2017 ▶ ■ ☆ ●	1 Tue, 17-Oct-2017 ▶ ■■■■■■■■■■■■■■■■■■■■■■■■■■■■■■■■■■■	1 Tue, 17-Oct-2017 ▶ ■ 【 】 ▲ 1	1 Tue, 17-Oct-2017 ▶ ■ ■ ■ ● 0	1 Tue, 17-Oct-2017 ▶ ■■■■■■■■■■■■■■■■■■■■■■■■■■■■■■■■■■■	$\leftarrow$ Tue, 17-Oct-2017
08:30 AM	08:30 AM	TEST, Mr Roger: U08:00 AM	08:30 AM	08:30 AM	09:00 AM
Blocked08:45 AM	09:00 AM	Test 43.60708:15 AM	09:00 AM	08:50 AM	09:15 AM
09:00 AM	09:30 AM	08:30 AM	09:30 AM	09:10 AM	09:30 AM
09:15 AM	10:00 AM	08:45 AM	10:00 AM	09:30 AMUrgent	09:45 AM
09:30 AM	$\mathbf{9}$SMITH, Mr John: C10:30 AM	09:00 AM	10:30 AM	Urgent09:50 AM	10:00 AM
09:45 AMBlocked	11:00 AM	09:15 AM	11:00 AM	10:10 AMUrgent	10:15 AM
10:00 AM	11:30 AM	09:30 AM	11:30 AM	10:30 AMUrgent	10:30 AM
10:15 AM	12:00 PMLunch	09:45 AM	12:00 PM	10:50 AMUrgent	10:45 AM
10:30 AM	12:30 PMLunch	10:00 AM	12:30 PM	11:10 AMUrgent	11:00 AM
10:45 AMBlocked	01:00 PM	10:15 AM	01:00 PM	11:30 AM	11:15 AM
11:00 AM	01:30 PM	10:30 AMEdit Appointment		$\leftrightarrow$	$\Box$$\times$$\overline{\phantom{a}}$
11:15 AM11:30 AM	02:00 PMNon Contrast02:30 PM	10:45 AM
Blocked11:45 AM	03:00 PM	11:00 AMΘ11:15 AM	APPOINTMENTMr John SMITH	FOLIO 10.645	LunchACCESSION 10.1270Lunch
12:00 PM	03:30 PM	Tue, 17-Oct-201711:30 AM		Male 05-Oct-1977 (40y)	Lunch
12:15 PM	04:00 PM	10:30 AM - 11:00 AM11:45 AM			Lunch
12:30 PM	04:30 PM	12:00 PM		450 Swan Stree J. Dr Doogie Ho (03) 9800-1231 Appointment(s) + Medium	$\triangledown$
ADAMS, Mrs ROSE$\mathbf{P}$ +12:45 PM		12:15 PM
01:00 PM		V SUMMARY12:30 PM			А
01:15 PM		12:45 PM
01:30 PM		01:00 PM	Patient SMITH, Mr John 10.645	Referrer Dr Doogie Howser 0000000Y
01:45 PM		01:15 PM	Born: 05-Oct-1977 (40y)	Practice
02:00 PM		01:30 PM	Male
02:15 PM		01:45 PM	(03) 1212-1211	Address 23 Holywood lane ThePlace RICHMONDVIC 3121 Australia
02:30 PM		02:00 PM	Address 450 Swan Street RICHMOND VIC 3121
02:45 PM		02:15 PM	View all details	Referral date 09-Oct-2017
03:00 PM		02:30 PM		Referral period 12
03:15 PM		02:45 PM
03:30 PM		03:00 PM	Accession 10.1270
03:45 PM		03:15 PM	Order Status Arrived (1/1)
04:00 PM		03:30 PM
04:15 PM		03:45 PMET04:00 PM			ы
04:30 PM04:45 PM		04:15 PM		Save	Cancel
		04:30 PM
		04:45 PM

VISAGE RIS

• Long term (5 year) contracts with Primary Healthcare and I–MED, the 2 biggest radiology providers in AUS
• HIS (Healius) rollout now complete
• Upside via organic and M&A growth (I-MED)
• Increased market interest new opportunities
• PME undisputed market leader

Visage 7.0

Continues to be #1 in Speed, Functionality and Scalability.

MASSIVE DATA EXPLOSION

• High density Multi-slice CT 10,000+ images
• HD Breast Tomosynthesis 6 GB+
• Optoacoustic breast ultrasound 10+ GB
• Total Body PET Scan 10+ GB
• 7T MRI much larger than 3T

LEGACY TECHNOLOGY

"Compress and Send"

SOLUTION:

VISAGE 7 Streaming Technology

NYU LANGONE

• $25 Million over 7 Years
• Voted in the top 10 Hospitals in North America
• Transaction based licensing model with upside
• Teaching hospital for the Grossman School of Medicine
• Implementation completed in June 2021
• Visage to setup new R&D hub in NYC starting August 2021

LMU KLINKUM - Munich

• $10M 7-year Deal
• One or Europe's largest teaching hospitals
• 2nd major hospital contract in Germany
• Visage 7 Viewer and Visage Open archive
• Breaks the mold of "one-stop-shop" modality vendor systems
• Paves the way for further European sales
• Implementation completed December 2020

ZWANGER PESIRI

• $8.5M -5-year renewal contract
• One of the largest private outpatient groups in the US
• Increased minimum contract value by 70%
• Visage technology key enabler of practice growth
• Validates Visage's unique value proposition

MEDSTAR HEALTH

• $18M-5-year deal
• Replaces legacy PACS across 10 hospitals
• Largest health system in the Maryland/ (DC) region
• Contract for all three Visage modules –Viewer, Open Archive and Workflow
• Visage 7 platform to be fully deployed in the public cloud
• Extends PME's rapidly growing footprint in the IDN space
• Transaction-based model with potential upside
• Implementation completed June/July 2021

INTERMOUNTAIN HEALTHCARE

• $40M 7-year deal
• Largest healthcare provider in the Intermountain West
• Visage to replace legacy PACS across 24 hospitals and more than 200 clinics
• Contract includes the Visage 7 Viewer and Open Archive
• Visage 7 to be fully deployed in the public-cloud
• Extends PME's leading position in large, regional health systems
• Transaction-based model with potential upside

UNIVERSITY OF CALIFORNIA HEALTH SYSTEM

• $31M 7-year deal
• 5 leading academic campuses UCLA, UCSF, UCSD, UC Davis and UC Irvine
• Unifying all 5 academic campuses on a single diagnostic imaging platform
• Visage 7 to be deployed in the public cloud
• Further extends PME's footprint in tier 1 academic space
• Option for affiliates to adopt the Visage platform
• Transaction based model with potential upside

UNIVERSITY OF VERMONT MEDICAL CENTER

• $14M 8-year deal
• Visage to replace multiple legacy PACS systems
• Visage 7 to be deployed in the public cloud
• Extends PME's US academic institution footprint
• Transaction-based model with potential upside

FAST TRACK IMPLEMENTATION

• All implementations on or ahead of schedule
• Fast track methodology continues to deliver
• Large scale projects completed in under 1/4 the time of industry norm
• Delivers huge savings for client
• Frees PME staff for other jobs
• Reduces barrier to change
• OSU first 100% remote implementation
• New highly optimized hybrid model (onsite + remote)
• A key differentiator of Visage offering

KEY IMPLEMENTATIONS FY21

VISAGE – PROVEN ROI

Significant IT & Infrastructure Savings

Unparalleled Increase in Radiologist Efficiency

Greater Clinical Accuracy

Improved Physician Engagement

Delivers Superior Value Proposition

VISAGE – Clinical ROI

30

NORTH AMERICAN PIPELINE

VISAGE 7 OPEN ARCHIVE

• Same highly scalable Visage 7 platform
• Interoperable works in complex environments
• Enables choice of modular or single vendor solutions
• Three recent sales Viewer and Visage Open Archive
• Pipeline includes Visage Open archive opportunities
• Key component of Visage Cloud strategy
• Transaction based model with potential upside

Visage 7 WORKLIST

• Adds to V7 Viewer and Archive modules
• Based on over 30 years experience in Worklist SW
• Allows PME to offer single vendor solution
• Integral part of Visage in the Cloud SaaS solution
• Ability to interface with broad range of AI algorithms
• Transaction based model with potential upside

NEW PRODUCTS ENTERPRISE IMAGING

• Single viewer for ALLimages in the medical record (EMR)
• Radiology/Cardiology (DICOM format)
• Non-radiology– reflected light hi-res photos & videos
• VISAGE 7 technology ideally suited
• Increases Visage value proposition
• Growth opportunities within existing contracts

VISAGE in the CLOUD

• Visage 7 fully Cloud native
• Same ultrafast performance as on-premise
• Full Visage 7 functionality
• Security and scale of the cloud
• Complete PACS deployment or as backup/disaster recovery
• Suitable for all size implementations
• Opens new market opportunities
• Significant strategic advantage over competitors

Visage 7

• Unique end to end solution
• Supports both research and production environments on a single platform
• Based on market leading Visage 7 technology
• Enables Visage clients to fast-track AI as part of their imaging strategy

Visage 7

• Visage Research Server streamlines AI algorithm development
• Optimised for AI data curation and validation
• Open API seamless integration
• AI Ecosystem 3rd party and Visage developed algorithms
• Joint development/commercialisation opportunities - 3rd parties and academic clients.

AI Research Leadership

Malte Westerhoff Chief Technology Officer

Detlev Stalling Head of Development

Ming De Lin Clinical Research Manager North America

(RCA) Research Collaboration Agreements

Breast Density - AI

• 1st diagnostic AI algorithm produced by Visage
• Developed in collaboration with breast imaging team at Yale
• Provides "on the fly" AI assessment of breast density
• Previewed at RSNA 2019 as WIP
• FDA approval February 2021
• A model for future AI development

HIMSS21

THANK YOU