Slide 1: Financial Results & Operational Update
FINANCIAL RESULTS & OPERATIONAL UPDATE Half year ended 31 December 2025 Kingsley Hall C h i e f E x e c u t iv e O f f i c e r 27 February 2026 Micro-X - 1H FY26 Results Presentation I 1
Slide 2: Important Notice
IMPORTANT NOTICE 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, pr
Slide 3: Creating Revolutionary X-Ray Imaging to Better Lives
CREATING REVOLUTIONARY X-RAY IMAGING TO BETTER LIVES Curious I Collaborative I Determine d Micro-X - 1H FY26 Results Presentation I 3
Slide 4: Overview
OVERVIEW World leading X-ray technology and growing commercial momentum - delivers record Half Yearly revenues Disrupting the high value CT market Clear path to commercialisation World first CT technology Validated by partners Rover Head CT Security Proprietary CNT platform - Multiple technology 1H
Slide 5: Breakthrough Imaging Technology
BREAKTHROUGH IMAGING TECHNOLOGY Technology advantages and portability enable new CT imaging uses CT imaging market is significant – growing demand → In excess of 100,000 CT installations globally1 → 2024 equipment revenue market US$5.7B2 World-leading Nano Electronic X-ray (NEX) platform - enabler →
Slide 6: World First Imaging Technology
WORLD FIRST IMAGING TECHNOLOGY Proprietary NEX Technology redefines portability and precision for X-ray Micro-X imaging solution – X-ray Tubes – Generators – HV Switching– Imaging Software Micro-X - 1H FY26 Results Presentation I 6
Slide 7: NEX Technology Platform
NEX TECHNOLOGY PLATFORM Proprietary and customisable platform for use across multiple applications NEX TUBES HIGH VOLTAGE GENERATOR MULTI-TUBE SWITCHING ARRAY RECONSTRUCTION SOFTWARE Cold cathode using proprietary 120kV and 160kV high voltage In-house designed high-voltage carbon nanotube emitter Pr
Slide 8: Medical Imaging Portfolio
MEDICAL IMAGING PORTFOLIO Pioneering smaller, smarter X-ray and CT through patented technology platform ROVER HEAD CT FULL BODY CT - MOBILE DIGITAL RADIOGRAPHY - MOBILE STROKE DIAGNOSIS - PORTABLE IMAGING SOLUTION Ultra-mobile X-ray systems delivering high quality Light, portable CT imaging to diagn
Slide 9: Experienced Leadership
EXPERIENCED LEADERSHIP Commercially focused to accelerate growth Kingsley Hall – CEO Brian Gonzales, PhD – CEO Americas Patrick O'Brien, Non-Exec Chair Jim McDowell, Non-Exec 25+ years exp in senior operational and Recognised industry leader in X-ray physics, CNT Former Senior Exec. Macquarie Chair
Slide 10: Results and Highlights
RESULTS AND HIGHLIGHTS Financial Half-Year ended 31 December 2025 Micro-X Investor Presentation I 10
Slide 11: Key Financials – 1H FY26
KEY FINANCIALS – 1H FY26 Momentum across product and project revenues drive improved cashflows Total Revenue Product Revenue $10.1M $4.4M 155% [1H FY25: $4.0M] 326% [1H FY25: $1.0M] Strong growth compared to 1H FY25 across both $3.3M Rover order to the Malaysian Ministry of Health Product revenues (
Slide 12: Strong Operational Achievements
STRONG OPERATIONAL ACHIEVEMENTS Platform laid in 2025 through multiple achievements - builds momentum for the future Rover – In market Head & Body CT – In development Security - In development Largest ever Rover order Head CT hospital trial ready Checkpoint & Scanner in testing First Hospital Supply
Slide 13: Record Half Year Revenues – 1H FY26
RECORD HALF YEAR REVENUES– 1H FY26 Revenues underpinned by both strong product and project revenues Total Revenue (FY24 to 1H FY26 - A$M) Revenue breakdown (FY24 to 1H FY26 - A$M) 8.0 7.5 12.0 10.1 7.0 10.0 9.1 5.7 8.2 6.0 5.0 8.0 7.0 5.0 4.4 4.4 3.8 #039;000 4.0 #039;000 6.0 2.9 4.0 3.0 2.0 4.0 2.0 1.6 1
Slide 14: Partnerships - Funding Tech Development
PARTNERSHIPS - FUNDING TECH DEVELOPMENT Micro-X saw increasing partnership activity through 1H FY26 New Partnership Funding Up to $25M funding Full Body CT $9.9M – Portable & [1H FY25 : $18.6M] Up to $31.7M funding Lightweight → $2.5M DHS contract extension $15M funding Checkpoints & → $4.4M IGP gra
Slide 15: Balance Sheet – Resourcing Our Strategies
BALANCE SHEET – RESOURCING OUR STRATEGIES Development workstreams funded by partnerships Cash & Current Assets A$000 Cash & Cash Equivalents 4,896 $12.0M Trade and Other Receivables 1,939 Inventories 4,026 Contracted payments for FY2026 onwards2 Other Current Assets 1,912 → ASA funding supports Head
Slide 16: Commercial Momentum
COMMER CIA L MOMENTUM Strategies to build revenues and deliver value in 2026 Micro-X - 1H FY26 Results Presentation I 16
Slide 17: Strategies & Priorities
STRATEGIES & PRIORITIES Three key near-term objectives with a focus on tangible outcomes 01 02 03 Build Validate Monetise Rover Sales Head CT in imaging trials Security Division Focus on building durable growth and larger Hospital trials in 2026 to provide pathway Launch Billion Prima parcel scanner
Slide 18: Go to Market Pathway
GO TO MARKET PATHWAY Bringing a portfolio of medical and security products to market Products Funding / Status 2025 2026 2027 Approved and in Revenue Execute larger sales Launch of Further growth opportunities updated Rover 400+ units sold to date Test bench Imaging trials & Head CT installed RMH co
Slide 19: Rover – Proven Technology
ROVER – PROVEN TECHNOLOGY Delivering on securing larger contracts and direct sales focus $3.3M order for Malaysian Ministry of Health - largest single order in Micro-X history – delivered Dec 25 → Following successful tender win by Malaysian distributor Integrated Medical Systems Approvals → Targeti
Slide 20: Full Body CT – Passed Design Stage
FULL BODY CT – PASSED DESIGN STAGE Bringing full diagnostic CT scanning to the patient Up to $25M development funding contract with US Govt biomedical research agency ARPA-H → Initial funding of $12.5M for first 2 years - up to $25M for a total of 5 years → Contract to design and deliver a lightweig
Slide 21: Airports & Security Business
AIRPORTS & SECURITY BUSINESS Expanding fully funded development with U.S. DHS and Billion Prima Up to $31.7M contracted development with DHS → Extension to advance detection algorithms for Self-Screening Passenger Checkpoint → TSA testing ongoing for Checkpoint and baggage scanners, second and third
Slide 22: Future - Head CT Scanner
FUTURE - HEAD CT SCANNER Entering stroke imaging hospital trials Micro-X - 1H FY26 Results Presentation I 22
Slide 23: Significant Unmet Medical Need
SIGNIFICANT UNMET MEDICAL NEED Stroke is the second largest cause of death worldwide A stroke occurs every 11 minutes in Australia The Golden Hour - Saving lives for millions of stroke victims → Nearly 2 million brain cells die per minute during an ischemic stroke → Three quarters of strokes are clo
Slide 24: Mobile Stroke Units Save Lives
MOBILE STROKE UNITS SAVE LIVES Size, weight and cost limitations hinder broad adoption Concept proven → 30 minute reduction in time to treatment (stroke onset to IV thrombolysis)1 leads to 65% increase in the odds of an excellent outcome1 → Around 50 mobile stroke units globally Challenges driving i
Slide 25: Micro-X Head CT - Reinvents Stroke Diagnosis
MICRO-X HEAD CT - REINVENTS STROKE DIAGNOSIS Delivering fast, accurate imaging wherever the patient is - hospital or pre-hospital Small, robust, lightweight → Concept design under 70kg → CT imager with no rotating gantry → Able to fit in the side wall of any ambulance (land & air) Efficient and accu
Slide 26: Head CT - Entering Human Imaging Trials
HEAD CT - ENTERING HUMAN IMAGING TRIALS Hospital and ambulance imaging trials to support regulatory applications “The strength of this technology is its lightweight, portable First human imaging trial site activated at Royal Melbourne Hospital structure, which will make it ideal for use in prehospit
Slide 27: Head CT Market Access Roadmap
HEAD CT MARKET ACCESS ROADMAP HEAD CT MARKET ACCESS ROADMAP In hospital imaging study to commence shortly at Royal Melbourne Hospital 2025 2026 2027 Supporting outcomes Australian Stroke Alliance ‘Stroke Golden Hour’ Project - $8M Australian Government Medical Research Future Fund Test Bench Develop
Slide 28: Summary
SUMMA R Y Strategies, partners and funding to deliver success Micro-X - 1H FY26 Results Presentation I 28
Slide 29: Milestones for CY2026
MILESTONES FOR CY2026 COMMERCIAL DEVELOPMENT PARTNERSHIPS Mobile DR Head CT Full Body CT Security Sales growth - current & new markets Undertake hospital imaging trials Develop Full Body test bench Execute security partnerships to Launch 2026 Rover model update unlock value Commence hospital human i
Slide 30: Wrap Up
WRAP UP A clear path forward 1 Commercial & customer focus deliver record Half Yearly results 2 Rover sales strategy targeting large opportunities 3 Head CT commence imaging trials - support regulatory submission 4 Partnering process to monetise security business 5 Validated by strong partners – fun
Slide 31: Appendices Financials
APPENDICES FINANCIALS Micro-X - 1H FY26 Results Presentation I 31
Slide 32: Profit & Loss – 1H FY26
PROFIT & LOSS – 1H FY26 Operating revenues increased $6.1M and Operating EBITDA improved by $3.1M Consolidated 31 Dec 25 31 Dec 24 Change Key Points #039;000 #039;000 #039;000 % Revenues Product Revenue 4,405 1,035 3,370 326% → 1H FY26 Operating revenues up $6.1M to $10.1M Costs of Goods sold (3,557) (902) (
Slide 33: Balance Sheet – 31 December 2025
BALANCE SHEET – 31 December 2025 Consolidated 31-Dec-25 30-Jun-25 Change #039;000 #039;000 #039;000 % Assets Current assets Cash and cash equivalents 4,896 3,242 1,654 51% Trade and other receivables 1,939 8,321 (6,382) (77%) Contract assets 1,660 839 821 98% Key points Inventories 4,026 4,274 (248) (6%) Oth