Cardioscan Update

CardioScan

Data Driven Healthcare CardioScan Update - Sep 2021

cardioscan.co

Confidentiality

Obligations of Confidentiality This report and analysis has been prepared by PJR Co Pty Ltd (“CardioScan”) for selected stakeholders. This report is based on information prepared by CardioScan management and is not audited and is subject to change without notice.

As signatories of CardioScan’s Shareholders Agreement, you are bound by strict confidentiality clauses and we remind you of their importance when considering information regarding CardioScan.

If you wish to discuss any part of this presentation, please contact CardioScan.

700k+ hearts Analysed and reported on each year

No set up cost All devices, software & supplies at no fee

Trusted Some of the world’s largest healthcare companies rely on our services

Global reach

35+ years

In 10 countries worldwide and growing

Reputable and trusted cardiac monitoring business

CardioScan’s team of cardiac technicians meet the highest compliance and analytical standards, whilst delivering the latest heart monitoring software and devices.

90% faster 2 hour turnaround on ECGs 6 hour turnaround on Holters and BPs

Our Services

CardioScan Tests ECG

Holter

Ambulatory BP

Duration

Diagnosing

Duration

Diagnosing

Duration

Seconds

Arrhythmias

1-30 days

Multiple forms of Arrythmias

1 day

Coronary Disease Treatment Success

Devices in field

Devices in field

Devices in field

1600+

>5000

800+

Geography Served

Volume Growth (FY21 Q2 v FY20 Q2)

Geography Served

Volume Growth (FY21 Q2 v FY20 Q2)

Australia

+35%

World

+60%

Geography Served

Australia, Singapore, HK, USA, UK

Diagnosing

Hypertension (causing Stroke, Heart Attacks)

Volume Growth (FY21 Q2 v FY20 Q2)

+20%

Introduction Last 12 Months •

Strong revenue growth across the business almost 30% growth in FY21 vs FY20

•

Covid was a factor in the USA and UK, but Company remained resilient and rebounded quickly

•

Strong emphasis on infrastructure in FY21 to provide foundation for growth in future years

•

Rollout of BeatBox v3 and global IT infrastructure will be fundamental to future success

Key focus for the next 12 Months

•

Migrate the business to BeatBox v3

•

Move US to breakeven by December 2021 and profitable in FY22

•

Move UK to breakeven by December 2021 and breakeven in FY22

•

Continue to expand market share in existing markets

Financial Summary CardioScan’s actual and forecast financial performance is outlined below. With ~30% revenue growth year on year, despite the pandemic, we see outstanding potential over the next 24 months .

Revenue Australia United States Hong Kong Singapore United Kingdom Malaysia Group Growth EBITDA Group Growth Margin

Act FY20 9,693,115 1,726,941 936,552 379,899 221,086 46,678 13,004,271

Act FY21 11,853,231 1,555,599 1,189,277 518,690 1,424,879 233,352 16,775,029 29.0%

Fcast FY22 12,846,328 4,387,658 1,439,257 830,545 2,614,189 518,404 22,636,382 34.9%

Fcast Q4 FY22 13,450,314 6,067,479 1,514,994 974,652 3,165,532 608,829 25,781,801

FY20 677,387

FY21 1,761,729 160.1% 10.5%

FY22 4,018,951 128.1% 17.8%

Q4 FY22 6,462,464

5.2%

Note: Q4 FY22 is April 2022 to June 2022, multiplied by 4

25.1%

Commentary ‒

We continue to see consistent growth in Australia, our founding market.

‒

The USA will drive growth for CardioScan over the next 24 months. The movement in this market is material and warrants our focus.

‒

The UK is an important strategic market for us as our first exposure to Europe.

‒

Our Asian markets prove the low cost market entry approach in these areas work well. We will continue to expand into attractive markets in this region

Focus – Next 24 Months We believe we have the strategy in place to position the group to be operating at a run rate EBITDA of $8m+ within the next 24 months.

For CardioScan to deliver this, we have the following eight deliverables to achieve:

1.

Move the USA to profitability (with a focus on large scale rollouts, software integrations)

2.

Move the UK to profitability (with a focus on gross margin and customer acquisition)

3.

Complete the rollout of BeatBox v3 across all service offerings and geographies

4.

Provide underlying IT infrastructure and teams to support rapid rollouts

5.

Support marketing and sales function to support rapid revenue growth

6.

Focus on quality and customer reporting to drive retention

7.

Complete due diligence on new geographies to build pipeline

8.

Support existing employees and attract outstanding talent

Thank You CardioScan Australia Suite 301, 293 Camberwell Road, Camberwell VIC 3124 Australia T +61 3 9832 2222 F +61 3 9832 2220 info@cardiscan.com.au

Visit us online for more

cardioscan.com.au