Ann: Imricor Q4 FY22 Quarterley Activities Report and Appendix 4C, page-2

This QAR is disappointing, if not a very poor Company performance, as the market decimated the SP today, shedding 18%.

Operating costs ballooning to $3+m while revenue was smashed.

Chair and CEO comes across non-confident about Company future outlook in terms of revenue growth, profitability or where the company is expected to be in relation to market share - rather relying on, among other things, opening new sites, discussions (not negotiations) with GE Healthcare and Phillips regarding 3D NorthStar MR Mapping System and securing a favourable US$5m loan (convertable notes). Cash balance at 31 December 2022, is pitifully US$5.7m - or a runway of approx 19 months.

At this stage, no BOD or senior executives, including 3rd party sales, marketing & distribution should be in the running for bonuses this FY. Perhaps the BODs should also take a haircut in their fees, as part of ownership of this Quarter poor performance.

SH's should be concerned about future SP & growth potential, and perhaps look elsewhere in the sector to invest.