Announcement PDF ImpediMed Limited 1/50 Parker Court Pinkenba, QLD, 4008 Australia E: investorrelations@impedimed.com W : impedimed.com 31 July 2025 Companies Announcements Office Australian Securities Exchange Investor Presentation ImpediMed Limited (ASX:IPD) releases the attached presentation to be delivered to investors and analysts today. Approved for release by the Board of ImpediMed Limited. For more information, contact Leanne Ralph, Company Secretary, at leanne.ralph@bellev.com.au Impedimed Limited Q4 FY25 Results July 2025 Proprietary, do not reproduce, distribute, or excerpt without written permission from ImpediMed. ©2025 ImpediMed Limited. 1 Forward Looking Statements This presentation contains or may contain forward-looking statements that are based on ImpediMed Limited (ImpediMed) management’s beliefs, assumptions and expectations and on information currently available to management. All statements that address operating performance, events or developments that we expect or anticipate will occur in the future are forward-looking statements, including without limitation our expectations with respect to our ability to expand sales and market acceptance in the US and Australia including our estimates of potential revenues, costs, profitability and financial performance; our ability to develop and commercialise new products including our ability to obtain reimbursement for our products; our expectations with respect to our clinical trials, including enrolment in or completion of our clinical trials and our associated regulatory submissions and approvals; our expectations with respect to the integrity or capabilities of our intellectual property position. Any forward-looking statements, including projections, guidance on future revenues, earnings and estimates, are provided as a general guide only and should not be relied upon as an indication or guarantee of future performance. While management has prepared this information based on its current knowledge and understanding and in good faith, there are risks and uncertainties involved which could cause actual results to differ from projections. You should not place undue reliance on forward-looking statements which speak only as of the date when made. Except as required by law, ImpediMed does not assume any obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. ImpediMed may not actually achieve the plans, projections or expectations disclosed in forward-looking statements. Actual results, developments or events could differ materially from those disclosed in the forward-looking statements and no representation, warranty or assurance (express or implied) is given or made in relation to any forward-looking statement by any person (including ImpediMed Limited). Proprietary, do not reproduce, distribute, or excerpt without written permission from ImpediMed. ©2025 ImpediMed Limited. 2 Agenda 1 Q4 Key Highlights 2 Business Overview 3 Financial Performance 4 H1 FY26 Outlook Proprietary, do not reproduce, distribute, or excerpt without written permission from ImpediMed. ©2025 ImpediMed Limited. 3 Q4 Key Highlights Proprietary, do not reproduce, distribute, or excerpt without written permission from ImpediMed. ©2025 ImpediMed Limited. 4 Q4 FY25 vs Outlook ✓ Significant increase in US sales expected in Q4 and the balance of the 2025 calendar year: ✓ Continue to initiate Lymphoedema awareness activities to generate leads ✓ Further measured investment to accelerate sales strategy ✓ Drive improvement in sales metrics ✓Continued focus on private payor coverage ✓Optimise Lymphoedema Prevention Programs (LPP) to support customer utilisation and support renewals ✓Continued focus on costs ✓Round out Australian executive team with appointment of Chief Product Officer and Head of Business Development Proprietary, do not reproduce, distribute, or excerpt without written permission from ImpediMed. ©2025 ImpediMed Limited. 5 Q4 Key Highlights Financial • • • • • • Record TCV $6.3m. Revenue $3.3m. Annual recurring revenue $14.0m. Quarterly operating cash outflow ($3.5m). Qualified for US$5.0m Tranche 2 of US$15.0m growth capital facility. Cash balance $22.2m, equating to 6.3 quarters of operating cash flow. • • With the additional $US5.0m draw down of the debt facility, 8.4 quarters of operating cashflow remain. FY25 cash cost base reduction vs FY24 achieved with a 16% reduction vs. 10% forecast. Sales • US 44 SOZO units +100% on Q3 FY25. • Included in the 44 units sold in the US was a 9-unit contract with Legacy Health. • 13% increase in TCV for contracts renewed in the quarter. • Two new Key Account Executives with extensive breast cancer surgical device experience hired in the quarter with one open territory in recruitment. Reimbursement • • • Additional major commercial payor providing coverage from July 1, 2025, significantly increasing depth of coverage across multiple states. Number of states above 80% coverage increased from 25 to 36. Number of states above 90% coverage increased from 7 to 21. Proprietary, do not reproduce, distribute, or excerpt without written permission from ImpediMed. ©2025 ImpediMed Limited. 6 Business Overview Proprietary, do not reproduce, distribute, or excerpt without written permission from ImpediMed. ©2025 ImpediMed Limited. 7 Sales Continued focus on accelerating BCRL • Solid foundation set - ARR business model, 1,000+ devices deployed, leading US healthcare customers, NCCN & NAPBC guideline inclusions. • Reimbursement levels are improving and are sufficient to support sales needed to achieve Company’s stated goals. Key Accounts, IDNs, NAPBC and NCCN Centres remain a focus • High quality leading healthcare centres added and renewed in the quarter include: Yale New Haven, University of Texas MD Anderson, Memorial Sloane Kettering, Mount Sinai Medical Centre, Corewell Health, Ascension, Legacy Health, Northwell, University of Virginia, University of North Carolina, Kansas University, University of Tennessee and University of Miami • Included in the 44 units sold in the US was a 9-unit purchase by Legacy Health, a six-hospital health system serving Portland, Oregon and Vancouver, Washington metro areas. Legacy Health operates over 70 primary care, specialty and urgent care clinics and employs more than 14,000 staff, including nearly 3,000 healthcare professionals. • Expansion within existing accounts evident: SOZOs in 23 of 33 NCCN Member Institutions, with a total of 88 SOZOs, equating to ~4 SOZOs per institution. • Master Services Agreement (MSA) in place with 27 IDNs – enabling more rapid system wide expansion. Renewals • Positive momentum continues with an average 13% increase in TCV of contracts renewed in the quarter. Proprietary, do not reproduce, distribute, or excerpt without written permission from ImpediMed. ©2025 ImpediMed Limited. 8 Expanding reimbursement, robust pipeline, and strengthened sales team driving sustainable sales growth Reimbursement 1 July 2025 36 US states > 80% coverage 21 US states > 90% coverage 1 January 2025 25 US states > 80% coverage 7 US states > 90% coverage Leads Opportunities Sales US SOZO Leads SOZO Opportunity Pipeline SOZO US Unit Sales 385 568 New management commence Focus on lead generation 139 45 40 28 54 32 622 558 436 219 167 44 699 362 278 294 26 22 335 16 13 20 22 13 64 24 Proprietary, do not reproduce, distribute, or excerpt without written permission from ImpediMed. ©2025 ImpediMed Limited. 9 Sustainable sales growth expected in FY26 Confident in delivering sustainable sales growth in FY26 • Significantly larger pipeline from investment in systems & marketing • Increasing reimbursement - substantial increase from July 1, 2025 • Improvements in sales team • • • Appointment of Scott Long as new SVP of Sales with 30+ years in breast cancer medical device sales 2 additional KAEs with breast cancer experience now recruited with one additional territory to be filled Improvement in field force productivity metrics and implementation of new systems such as AcuityMD, Seamless AI and Outreach • Expansion opportunities with existing clients • • Focus on expanding in key accounts with existing MSAs totally >750 identified opportunities. Expansion within hospital systems a substantially faster process once the first agreement covering BAA, T&C’s, Pricing and IT approval is established • Broadening acceptance and integration of cancer patient survivorship programs into oncology care models • • 1. 2. 3. 4. 5. Enhanced awareness with guideline inclusion – NAPBC1 and NCCN2 American Cancer Society3, National Cancer Institute4 and ASCO5 now emphasise survivorship care plans and follow-up https://www.facs.org/quality-programs/cancer-programs/national-accreditation-program-for-breast-centers/standards-and-resources/ https://www.nccn.org/guidelines https://www.cancer.org/cancer/survivorship.html https://www.cancer.gov/about-cancer/coping/survivorship https://www.asco.org/news-initiatives/current-initiatives/cancer-care-initiatives/prevention-survivorship/survivorship-compendium/guidelines Proprietary, do not reproduce, distribute, or excerpt without written permission from ImpediMed. ©2025 ImpediMed Limited. 10 Strategy Achieve profitability through a focus on sales, marketing and clinical execution Current priorities Achieve profitability Innovate and expand GOAL 1 GOAL 2 GOAL 3 GOAL 4 GOAL 5 BCRL sales growth World-class customer experience Financial discipline Body Comp expansion Develop new markets • Continued focus on sales execution with urgency • Manage cash burn • Oncology • ROW activities initiated with market assessments underway • Support LPP implementation and patient utilisation • Execute on MSAs with large IDNs on system-wide implementation • Clinically managed weight loss • Continued progress to towards payor coverage target 85% through support of Academic Societies and KOLs • Heart failure development initiated through clinical research partnerships • Deliver actionable insights at the point of care Ensure everything we do is underpinned by quality and integrity Proprietary, do not reproduce, distribute, or excerpt without written permission from ImpediMed. ©2025 ImpediMed Limited. 11 Measured expansion into Body Comp initiated Body Comp opportunity Clinical guidelines recommending bioimpedance • The global GLP-1 market, currently valued at around $52 billion, is experiencing rapid growth and is projected to reach $188 billion by 2032 • • Body composition TAM for patients with planned (e.g. bariatrics, pharmacotherapy) and unplanned (e.g. cancer) weight loss estimated at $600 – $850 million in 2024 for clinical grade analysers SOZO is the only bioimpedance device with FDA clearance, TGA clearance and CE Mark to allow the measuring of Body Comp in an unhealthy patient population • The Lancet Diabetes & Endocrinology Commission, May 2025 definition and diagnostic criteria of clinical obesity expanded beyond BMI2: • Traditional measures of obesity, such as BMI, should only be used as a surrogate measure of health risk at a population level • Clinical Assessment of Obesity. Requires confirmation by objective measurements, which can include direct body fat measurement, which can include Dual-energy X-ray absorptiometry -DEXA or bioimpedance The Obesity Society, in collaboration with the Obesity Medicine Association, American Society for Nutrition (ASN), and American College of Lifestyle Medicine (ACLM), May 2025 Joint Advisory 3,4 : • Consider monitoring of muscle mass during weight loss pharmacotherapy, including use of validated tools such as bioimpedance to support a baseline and serial assessment of lean body mass and strength Commenced measured expansion into Body Comp for oncology and medically managed weight loss in a clinical setting 1. 2. 3. 4. https://www.fortunebusinessinsights.com/glp-1-receptor-agonist-market Rubino, Francesco et al. Definition and diagnostic criteria of clinical obesity. The Lancet Diabetes & Endocrinology, Volume 13, Issue 3, 221 – 262 Mozzafarian et al. Nutritional priorities to support GLP-1 therapy for obesity: a Joint Advisory from the American College of Lifestyle Medicine, the American Society for Nutrition, the Obesity Medicine Association, and The Obesity Society. The American Journal of Clinical Nutrition Volume 122, Issue 1, July 2025, Pages 344-367 The Obesity Society Applauds the Work of The Lancet Diabetes & Endocrinology Commission on Diagnostic Criteria of Clinical Obesity. The Obesity Society. January 2025 Proprietary, do not reproduce, distribute, or excerpt without written permission from ImpediMed. ©2025ImpediMed Limited. 12 Investigator led studies key to expanding in cardiology patients Heart Failure opportunity • Heart failure affects more than 64M people world-wide1. In the US, currently 6.7M US patients, growing to 8.5M patients by 2030. • US outpatient heart failure fluid monitoring TAM estimated at $1.1bn, based on a 30% share of the reimbursed market. • SOZO® has FDA and TGA clearance to support both in the assessment of fluid status in heart failure patients, as well as body composition assessment to support cardiac prehabilitation and rehabilitation. • ImpediMed is building the SOZO heart failure product offering leveraging investigator-initiated trials. • • Completed a 116-patient heart failure observational study in Sydney, with 6 abstracts being presented at the Cardiology Society of Australia and New Zealand Conference in Brisbane in August 2025 (soft launch) • 2 additional investigator initiated cardiac trials in the US ImpediMed’s heart failure program is advised by Professor Andrew Sindone, B. Med (hons), MD, FRACP, FCSANZ, FNHFA. • 1. 2. Professor Sindone is a practicing Cardiologist, the Director of the Heart Failure Unit and Department of Cardiac Rehabilitation at Concord Hospital, and Head of Department of Cardiology at Ryde Hospital. Professor Sindone is an advisor to the NSW Ministry of Health, as well as being co-author of the Australian Guidelines for the Management of Chronic Heart Failure Savarese et al. Global burden of heart failure: a comprehensive and updated review of epidemiology. Cardiovasc Res. 2023 Jan 18;118(17):3272-3287. doi: 10.1093/cvr/cvac013. Erratum in: Cardiovasc Res. 2023 Jun 13;119(6):1453. doi: 10.1093/cvr/cvad026. PMID: 35150240. Bozkurt et al; Writing Committee Members. Heart Failure Epidemiology and Outcomes Statistics: A Report of the Heart Failure Society of America. J Card Fail. 2023 Oct;29(10):1412-1451. doi: 10.1016/j.cardfail.2023.07.006. Epub 2023 Sep 26. PMID: 37797885; PMCID: PMC10864030. Proprietary, do not reproduce, distribute, or excerpt without written permission from ImpediMed. ©2025ImpediMed Limited. 13 Financial Performance Proprietary, do not reproduce, distribute, or excerpt without written permission from ImpediMed. ©2025 ImpediMed Limited. 14 Cash Flow Summarized Cash Flow In thousands AUD FY24 FY Actual Receipts from customers Research & development Product manufacturing & operating costs Advertising costs Staff costs Administration and corporate costs Interest received Government grants and tax incentives Net operating cash in/(out)flow: 11,493 (391) (946) (1,006) (23,307) (8,622) 1,604 3,386 (17,789) 2,718 (88) (314) (301) (4,899) (2,199) 279 (4,804) 3,419 (78) (389) (117) (4,801) (1,637) 217 915 (2,471) 4,059 (57) (643) (505) (4,789) (1,731) 200 (3,466) 3,784 (66) (230) (319) (4,968) (2,007) 276 (3,530) 13,980 (289) (1,576) (1,242) (19,457) (7,574) 972 915 (14,271) Purchase of property and equipment Purchase of intangibles Net investing cash in/(out)flow: (81) (3,024) (3,105) (447) (447) (144) (144) (405) (405) (60) (329) (389) (60) (1,325) (1,385) Transaction costs from capital raise Proceeds from borrowings Interest paid Operating leases Net financing cash in/(out)flow: (62) 58 (477) (481) (107) (107) (115) (115) (1,303) 15,967 (86) 14,578 (24) (576) (113) (713) (1,327) 15,967 (576) (422) 13,643 (21,375) (5,358) (2,730) 10,707 (4,632) (2,013) 297 (626) 1,775 (487) (1,033) (371) Cash at beginning of period Cash at close of period 45,710 24,632 24,632 18,648 18,648 17,693 17,693 27,913 27,913 22,248 24,632 22,248 Cash cost base* (37,854) (8,355) (7,281) (8,216) (8,092) (31,945) Net cash in/(out)flow: Net foreign exchange differences Year-over-year change Q1 Actual Q2 Actual FY25 Q3 Actual Q4 Actual FY Actual -16% • Q4 operating cash outflow of $3.5m, in line with forecasts. • Quarterly customer cash receipts of $3.8m. The reduction from Q3 largely due to timing. • FY25 cash cost base* of $31.9m is $5.9m or 16% lower than FY24; of which 97% was from a 22% reduction in staff remuneration, including capitalised development staff costs. • $US10.0m of the $US15.0m debt facility drawn. The remaining $US5.0m was drawn down in July 2025. • Net cash balance $A22.2m, equal to 6.3 quarters of operating cashflow. • • Including the additional $US5m draw down of the debt facility, 8.4 quarters of operating cashflow remain. • Strengthening of the AUD relative to USD resulted in an unrealised FX loss of $1.0m. One-off $1.2m payment for key electronic components, planned for Q4, will occur in Q1 FY26. * Cash cost base = operating CF excluding cash receipts, interest, and grants + investing CF + operating leases Proprietary, do not reproduce, distribute, or excerpt without written permission from ImpediMed. ©2025 ImpediMed Limited. 15 TCV and ARR SOZO Core Business Quarterly Total Contract Value1 SOZO Annual Recurring Revenue2 A$ millions A$ millions • • Record TCV of $6.3m up 86% vs. Q4 FY24; up 29% vs prior quarter. • ARR up 27% vs Q4 FY24; up 3% vs prior quarter. • ARR continues to grow as quarterly TCV gains translate into revenue. Price of renewed contracts increased 13% on average. • Stronger AUD reduced translated ARR. 1.Total Contracted Value (TCV) relates to new and renewed contracts and includes any consideration for the sale of SOZO units as well as the total licence fees for the duration of the signed contracts. Typically, these contracts are for a period of three years. 2.Annual Recurring Revenue (ARR) represents the amount of revenue reasonably expected to be recognised for the next 12-month period based on existing contracts, assuming installation upon sale and no churn. The amounts shown are as reported. The exchange rate used for Q4 FY25 ARR calculation was 0.64344 (Q3 FY25: 0.62384). Proprietary, do not reproduce, distribute, or excerpt without written permission from ImpediMed. ©2025 ImpediMed Limited. 16 Revenue and Cash Receipts Revenue Quarterly Cash Receipts A$ millions A$ millions • Q4 FY25 revenue down 1% vs Q3 FY25. • Quarterly cash receipts of $3.8m, up 27% vs Q4 FY24. • Q4 North America revenue flat vs Q3 FY25; ROW down 19%. • Q4 operating cash outflow of $3.5m in line with forecasts. • 15% growth versus Q4 FY24. • The reduction from Q3 largely due to timing of customer receipts. • Stronger AUD reduced translated US revenue. • Cash to fund 6.3 quarters of operating cashflow. Proprietary, do not reproduce, distribute, or excerpt without written permission from ImpediMed. ©2025 ImpediMed Limited. 17 Sales Global Installed Base Units Patient Tests (000s) ROW Installed Base U.S. Installed base 17% 3-year CAGR1 • 44 SOZO Units Sold vs 36 Q3 FY25 • US units sales increase by 100% to 44 units from 22 in Q3 FY25 • 0 ROW units in Q4 FY25 vs 14 in Q3 FY25 • Churn remains low, remains >3% pa • • 74,000 Patient Tests in Q4 FY25 Up 3% versus Q3 FY25 1.Compound Annual Growth Rate. Quarterly patient tests Q4 FY22 to Q4 FY25 Proprietary, do not reproduce, distribute, or excerpt without written permission from ImpediMed. ©2025 ImpediMed Limited. 18 Outlook for H1 FY26 Proprietary, do not reproduce, distribute, or excerpt without written permission from ImpediMed. ©2025 ImpediMed Limited. 19 Outlook for H1 FY26 ❑ Grow US sales leveraging changes to sales team and expanded reimbursement o o o o Continue to initiate Lymphoedema awareness activities to generate leads Further measured investment to accelerate sales strategy Drive improvement in sales metrics Fill remaining open territory ❑ Continued focus on payor coverage ❑ Expansion of Body Comp o Initiate sales strategy in oncology and clinically managed weight loss o Continue to refine the Body Comp offering ❑ Heart Failure o Continue product development ahead of Q2 soft launch in Australia o Continue to support investigator-initiated trials ❑ Optimise Lymphoedema Prevention Programs (LPP) to support customer utilisation and renewals ❑ Maintain financial discipline Proprietary, do not reproduce, distribute, or excerpt without written permission from ImpediMed. ©2025 ImpediMed Limited. 20 21