Appendix 4D and Half Year Financial Report

Contents

onlyDirectors' Report

Condensed consolidated statement of financial position

Condensed consolidated statement of profit or loss and other comprehensive income

useCondensed consolidated statement of changes in equity Condensed consolidated statement of cash flows

personalNotes to the condensed consolidated interim financial statements Directors' declaration

Auditor's Independence Declaration

Auditor's review report

For

ARTRYA LIMITED HALF-YEAR FINANCIAL REPORT 2022

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Directors' report

The directors of Artrya Limited ("the Company") present their report together with the consolidated financial statements for the six months ended 31 December 2021 and the review report thereon.

Directors

onlyThe names of the Company's directors in office during the half-year and until the date of this report are set out below. Directors were in office for this entire period, unless otherwise stated

Non-Executive

Mr Bernie Ridgeway

Independent Chair

Executive

Mr John Barrington AM Managing Director

useMr John Konstantopoulos Executive Director - Product

Artrya is an applied artificial intelligence healthcare company that assists clinicians in the diagnosis of coronary heart disease. The Company is developing deep learning algorithms to provide a holistic overview of a patient at risk.

Based in Perth, Australia, Artrya was founded in 2018 and commenced operations in early 2019. Artrya Ltd is listed on the

Australian Securities Exchange (ASX:AYA). personalReview of operations

On 26 November 2021, Artrya was admitted to the official list of the Australian Securities Exchange (ASX) following the successful completion of a $40 million initial public offering ("IPO"). The IPO included the issue of approximately 29.6 million fully paid ordinary shares at the issue price of $1.35 per share. The Company received approximately $37.2 million in net proceeds from the IPO after the payment of related fees and expenses of approximately $2.8 million.

Product Development & Regulatory Approval

Pilots of the Salix Coronary Anatomy (SCA) product commenced during the half in Perth and Sydney. User feedback was incorporated into subsequent versions of the product, the latest being released in January 2022.

The SCA product was admitted to the Australian Register of Therapeutic Goods in November 2020 and commercial r lease in Australia remains on target for Q4 FY22.

Regulatory applications for SCA have been submitted in the US (Food & Drug Administration), Canada (Health Canada), Europe (CE Mark) and the United Kingdom (UKCA). An external audit conducted by Notified Body BSI was successfully concluded in December 2021 as part of the CE Mark and UKCA approval processes.

ForThe Salix Coronary Flow (SCF) product research phase was completed ahead of schedule on 15 December 2021. Calibration, testing and validation against gold-standard data has commenced and the product will be submitted for regulatory approval in FY23.

Market Entry & Development

Australia

Sales and marketing activity progressed through the half to grow market awareness and generate prospective pilot site users. The initial sales focus on national radiology chains and stand-alone practices was extended to the hospital sector during Q2 FY22. Marketing to clinicians included delivery of a webinar to the annual Royal Australian and New Zealand College of Radiologists conducted virtually in October 2021.

United States

Market research completed during the Q1 and Q2 FY22 informed the Company's market entry strategies and discussions commenced with two significant institutes regarding clinical and workflow management research programs.

Two senior clinician appointments were made during Q2 FY22.

Dr Tom Cheek is a certified Internal Medicine Physician and Executive with extensive experience in medical management, onlyMedicare Advantage risk, Medicaid, clinical medicine, medical quality and outcome measurement. He is a 25-year veteran of Optum and UnitedHealth Group and is currently the Chief Medical Officer of UnitedHealthcare Clinical Services (UCS)

where he is responsible for improving the clinical care continuum across all products for UCS which include reducing hospitalisations, emergency department visits and increasing the affordability of care. He was previously the Clinical Vice President at Optum Care, Chief Medical Officer at Optum Health, Senior Medical Director at Aetna (one of the largest managed healthcare funds in the US) and Senior Medical Director at University Physicians Healthcare.

Dr Jim Bonnette has more than 40 years of health care experience. Dr Bonnette's areas of expertise include the strategic transformation of health care delivery systems, including value-based care and the federal mandate for health reform. He

usehas extensive knowledge of healthcare providers, payers and physician groups. He works with governments, payers, pharmaceutical manufacturers, GPO's, hospitals, and health systems to improve strategic direction, operational efficiency and financial performance. He is currently Executive Vice President at Optum Health (a subsidiary of UnitedHealth Group) and Chief Health Officer at Cogitativo. He has held a number of senior medical roles, including Chief Medical Officer and SVP of Clinical Operations for Vanguard Health Systems, an integrated health company with 26 hospitals and multiple outpatient centres in the United States.

US Scientific and Clinical Advisory Boards

personalIn January 2022, Artrya announced the appointment of Dr Jacque Sokolov to Chair Artrya's Scientific and Clinical Advisory Boards. Dr Sokolov has advised healthcare organisations across the US and served on government entities

including the White House under four presidents and Senate and House Committees.

Dr. Sokolov is Chairman and Chief Executive Officer of SSB Solutions, Inc., a US diversified healthcare management, development, and financial services company. His company has worked with more than 100 healthcare organisations across multiple US healthcare sectors to develop physician-driven,value-focused solutions in rapidly evolving markets. Dr. Sokolov currently serves on multiple public, private and not-for-profit healthcare boards. He is especially focused on cutting edge technology involving advanced digital health companies such as GlobalMed and next generation "genetic based" companies such as Calviri (mRNA diagnostics/products) and Lucid Diagnostics (DNA diagnostics-LUCD: NASDAQ). Dr. Sokolov received his BA and MD Degrees from the University of Southern California and completed his internal medicine residency at the Mayo Graduate School of Medicine followed by his fellowship in cardiovascular diseases/nuclear cardiology from the University of Texas-Southwestern Medical School.

Incentive arrangements for Dr Sokolov include 3.9 million 5-year Options with 1.3 million exercisable at A$1.35, 1.3 million exercisable at A$3.00 and 1.3 million exercisable at A$5.00 per Option.

United Kingdom

ForArtrya has partnered with global life sciences firm Eversana to activate the National Health Service Shared Business Services (NHS SBS) 2+2-year Framework Agreement, which introduces the Artrya Salix Coronary Anatomy (SCA) product to 1,250 Trust Hospitals throughout the United Kingdom.

Discussions were initiated in December 2021 with a leading UK research institute to undertake studies that will confirm the workflow benefits accruing from use of SCA in the UK NHS Trust Hospital setting. We expect this agreement to be finalised in Q3 FY22.

Financials

Net loss for the period was $6.64 million (net loss for half-year to 31 December 2020: $1.93 million).

The company's cash balance (including term deposits) was $43.7 million as of 31 December 2021.