USCOM LIMITED — Capital/Financing Update 2019

Sep 29, 2019

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ASX MEDIA RELEASE

Uscom completes private placement to management and major shareholders

SYDNEY, Australia, Monday 30[th] September 2019: Uscom Limited (ASX code: UCM) (the Company or Uscom ) today announced the private placement of shares at an issue price of 10c per share to raise up to $1,050,000 as follows:

1. A total of 4 million shares will be issued to Director of Uscom China, Ms Teresa Guo, and an unrelated current shareholder to raise $400,000. The issue of shares to Ms Guo and the current shareholder will be made under listing rule 7.1.

2. A total of 3 million shares will be issued to the Uscom Executive Chairman, Prof Rob Phillips, to raise $300,000. The issue to Prof Phillips is conditional on shareholder approval which will be sought at a general meeting to be convened by the Company.

3. Uscom has made an offer to another current shareholder, Mr Meng Xianhui, which permits him to subscribe up to $350,000 on or before 31 December 2019 at 10c per share. The issue of shares to Mr Meng, if any, will be made under listing rule 7.1.

The issue price of 10c per share is a 9.1% discount to the prior monthly VWAP (11c, range 9.5c to 12.5c), and a 13% discount to the closing price on the date of offer (11.5c).

This growth capital will be used to build new USCOM 1A, BP+ and SpiroSonic devices following record manufacturing in June, and to support new marketing initiatives in China, Europe and the US, and to finalise the costs of China and US regulatory approvals.

The share issues, if all proceed, amount to nearly 7% of the Company’s listed equity. Following the issue of shares and outstanding performance rights, Uscom Executive Chairman Prof Rob Phillips and Mr Meng, a Beijing international investor, will each hold approximately 20% of Uscom’s issued equity.

Executive Chairman of Uscom, Associate Professor Rob Phillips said “Management and lead investors have recognised the investment opportunities with the continuing trend growth of Uscom fundamentals, combined with multiple impending international regulatory approvals. Our 2019 Annual Report cited a six-year compound sales growth of 29% per year, with a total sales growth for that period of 358% despite an increasingly difficult and unpredictable international commercial environment. The report also outlined strategies for sustaining this growth and our PP provides the capital to fund the manufacture of devices to support our new sales initiatives in China, Europe and the US. Management are concurrently implementing cost control initiatives targeting near term profitability. This PP investment by management and lead investors is an endorsement of the Company’s achievements and future growth strategy.”

The share placements come at the same time as the Company is in the process of consolidating small parcel shareholdings, which will commence on 21[st] October 2019, and is part of the Company’s broader capital rationalisation strategy.

Uscom Limited (ABN 35 091 028 090) Suite 2, Level 8, 66 Clarence Street, Sydney, NSW, 2000, Australia T: +612 9247 4144 E: info@uscom.com.au W: www.uscom.com.au

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ASX MEDIA RELEASE

Uscom manufactures and markets the USCOM 1A, the Uscom BP+, and the Uscom SpiroSonic digital ultrasonic spirometry technologies. These premium digital devices are changing the way we diagnose and treat cardiovascular and pulmonary diseases. The USCOM 1A provides vital guidance for optimising management of sepsis and the administration of fluid, inotropes and vasoactive therapies in critical care monitoring. The BP+ SpiroSonic devices improve diagnosis and management of hypertension, heart failure, asthma, COPD and sleep disorders in the clinical and home care environments.

About Uscom

Uscom Limited (UCM) : An ASX listed innovative medical technology company specialising in development and marketing of premium non-invasive cardiovascular and pulmonary medical devices. Uscom has a mission to demonstrate leadership in science and create noninvasive devices that assist clinicians improve clinical outcomes. Uscom has three practice leading suites of devices in the field of cardiac, vascular and pulmonary monitoring; the USCOM 1A advanced haemodynamic monitor, Uscom BP+ central blood pressure monitor, and the Uscom SpiroSonic digital ultrasonic spirometers. Uscom devices are premium resolution, noninvasive devices which deploy innovative and practice leading technologies approved or submitted for FDA, CE, CFDA and TGA regulatory approval and marketing into global distribution networks. The USCOM 1A : A simple to use, cost-effective and non-invasive advanced haemodynamic monitor that measures cardiovascular function, detects irregularities and is used to guide treatment. The USCOM 1A device has major applications in Paediatrics, Emergency, Intensive Care Medicine and Anaesthesia, and is the device of choice for management of adult and paediatric sepsis, hypertension, heart failure and for the guidance of fluid, inotropes and vasoactive cardiovascular therapy.

The Uscom BP+ : A supra-systolic oscillometric central blood pressure monitor which measures blood pressure and blood pressure waveforms at the heart, as well as in the arm, information only previously available using invasive cardiac catheterisation. The Uscom BP+ replaces conventional and more widespread sub-systolic blood pressure monitors, and is the emerging standard of care measurement in hypertension, heart failure and vascular health. The Uscom BP+ provides a highly accurate and repeatable measurement of central and brachial blood pressure and pulse pressure waveforms using a familiar upper arm cuff. The BP+ is simple to use and requires no complex training with applications in hypertension and pre-eclampsia, heart failure, intensive care, general practice and home care. The Uscom BP+ is supported by the proprietary BP+ Reporter , an innovative stand alone software solution that provides a digital platform to archive patient examinations and images, trend measure progress over time, analyse pulse pressure waves and generate summary reports.

Uscom SpiroSonic digital multi-path ultrasonic spirometers : High fidelity, digital, pulmonary function testing devices based on multi path ultrasound technology. They require no calibration, are simple to disinfect, and are simple and accurate to use providing research quality pulmonary function testing in small hand held devices that can be used in research, clinical and home care environments. The devices can be coupled with mobile phone applications and proprietary SpiroSonic software platforms with wireless interfacing to provide remote tele-monitoring of pulmonary disease. The devices are specialised for assessment of COPD, sleep disordered breathing, asthma, industrial lung disease and monitoring of pulmonary therapeutic compliance. The SpiroSonic devices are supported by the proprietary SpiroReporter , an innovative stand alone software solution that provides a digital platform to archive patient examinations and images, trend measure progress over time, analyse spirometry outputs and generate summary reports. For more information, please visit: www.uscom.com.au

Uscom Contacts

Rob Phillips Brett Crowley Executive Chairman Company Secretary rob@uscom.com.au

Uscom Limited (ABN 35 091 028 090) Suite 2, Level 8, 66 Clarence Street, Sydney, NSW, 2000, Australia T: +612 9247 4144 E: info@uscom.com.au W: www.uscom.com.au