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TruScreen Investor Presentation

Investor Presentation28 May 2025TRUIndustrials

Investor
Presentation

May 2025

Not for distribution or release in the United States

2
Disclaimer and important notice

This presentation has been prepared by TruScreen Group Limited (TRU). This presentation has been prepared in relation to the offer of new shares in TRU (New Shares) by way of a:

•Placement to selected investors in certain jurisdictions (Placement); and

•Share Purchase Plan to TRU's eligible existing shareholders with an address in either New Zealand or Australia (SPP),

under clause 19 of Schedule 1 of the Financial Markets Conduct Act 2013 (FMCA) in New Zealand and in accordance with the relief granted in Australian Securities and Investments Commission (ASIC) Instrument 23-

0122 and ASIC Corporations (Share and Interest Purchase Plans) Instrument 2019/547 as amended by ASIC Instrument 25-0323 in Australia (together, the Offer).

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This presentation contains summary information about TRU and its activities which is current as at the date of this presentation. The information in this presentation is of a general nature and does not purport to be

complete nor does it contain all the information which a prospective investor may require in evaluating a possible investment in TRU or that would be required in a product disclosure statement for the purposes of the

FMCA or a prospectus or other disclosure document for the purposes of Chapter 6D of the Australian Corporations Act 2001 (Cth) ("Australian Corporations Act"). The historical information in this presentation is, or is

based upon, information that has been released to NZX Limited (NZX) and ASX Limited (ASX). This presentation should be read in conjunction with TRU’s other periodic and continuous disclosure announcements,

which are available at www.nzx.com and www.asx.com.au.

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The New Shares will be quoted on the NZX Main Board following completion of each of the Placement and the Retail Offer, and an application will be made by TRU for the New Shares to be quoted on the ASX.

Neither NZX nor ASX accepts any responsibility for any statement in this presentation. NZX is a licensed market operator, and the NZX Main Board is a licensed market under the FMCA.

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Past performance:

Past performance information given in this presentation is given for illustrative purposes only and should not be relied upon as (and is not) an indication of future performance.

Future performance:

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expressions within the meaning of securities laws of applicable jurisdictions, and include, but are not limited to future revenues, the timing of implementation of certain initiatives, growth strategies, the timetable of

the Offer and the use of proceeds. The forward-looking statements contained in this presentation are not guarantees or predictions of future performance and involve known and unknown risks and uncertainties and

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assurance that actual outcomes will not materially differ from these forward-looking statements. A number of important factors could cause actual results or performance to differ materially from the forward-looking

statements, including the risk factors set out in this presentation. Investors should consider the forward-looking statements contained in this presentation in light of those disclosures.

3
Disclaimer and important notice (continued)

Future performance (continued):

The forward-looking statements are based on information available to TRU as at the date of this presentation. Except as required by law or regulation (including the NZX and ASX Listing Rules) TRU undertakes no

obligation to provide any additional or updated information whether as a result of new information, future events or results or otherwise. Indications of, and guidance on, future earnings or financial position or

performance are also forward-looking statements. An investment in securities in TRU is subject to investment and other known and unknown risks, some of which are beyond the control of TRU. TRU does not

guarantee any particular rate of return or the performance of TRU.

Financial data:

All dollar values are in New Zealand dollars (NZ$ or NZD) unless otherwise stated.

Investors should be aware that this presentation contains certain financial information and measures that are "non-GAAP financial information" under the New Zealand Financial Markets Authority Guidance Note on

disclosing non-GAAP financial information, "non-IFRS financial information" under Regulatory Guide 230 on disclosing non-IFRS financial information published by ASIC and "non-GAAP financial measures" within the

meaning of Regulation G, under the U.S. Securities Exchange Act of 1934, and, therefore, are not recognised under New Zealand equivalents to International Financial Reporting Standards (NZ IFRS) and International

Financial Reporting Standards (IFRS). The disclosure of such non-IFRS/GAAP financial information and financial measures in the manner included in this Presentation would not be permissible in a registration

statement under the U.S. Securities Act of 1933 (the U.S. Securities Act). The non-IFRS/non-GAAP financial information and financial measures do not have a standardised meaning prescribed by NZ IFRS, Australian

Accounting Standards or IFRS, and therefore, may not be comparable to similarly titled measures presented by other entities, nor should they be construed as an alternative to other financial measures determined in

accordance with NZ IFRS or IFRS. Although TRU believes the non-IFRS/non-GAAP financial information and financial measures provide useful information to users in measuring the financial performance and

condition of TRU, investors are cautioned not to place undue reliance on any non-IFRS/non-GAAP financial information or financial measures included in this presentation.

Pro forma financial information:

This presentation also contains pro forma historical financial information to show the impact of the Placement. The pro forma information has not been audited or reviewed by TRU's auditors. The pro forma financial

information provided in this presentation is for illustrative purposes only and is not represented as being indicative of TRU's views on its future financial condition and/or performance. The pro forma financial

information has been prepared on the basis set out in this presentation. Investors should note that the pro forma financial information has not been prepared in accordance with, and does not purport to comply with,

Article 11 of Regulation S-X under the U.S. Securities Act.

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presentation. Accordingly, this presentation may not contain all information which a prospective investor may require to make a decision whether to subscribe for New Shares and it does not contain all of the

information which would otherwise be required by New Zealand law, Australian law or any other law to be disclosed in a regulated product disclosure statement, prospectus, or any other form of disclosure document.

This presentation is for information purposes only and is not an invitation or offer of securities for subscription, purchase or sale in any jurisdiction, including the United States (and will not be lodged with the U.S.

Securities Exchange Commission).

Any decision to purchase New Shares in the SPP should be made on the basis of the information to be contained in a separate offer document to be prepared and made available to eligible retail shareholders. The

offer booklet for the SPP will be available to eligible retail shareholders in New Zealand and Australia following its lodgement with NZX and ASX. Any eligible shareholder who wishes to apply for New Shares under the

SPP should review the offer booklet and apply in accordance with the instructions contained in the offer booklet or as otherwise communicated by TRU. This presentation does not constitute investment or financial

advice (nor tax, accounting or legal advice) or any recommendation to acquire New Shares and does not and will not form any part of any contract for the acquisition of New Shares. The release, publication or

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By attending or reading this presentation you represent, warrant and agree that you: (i) are entitled to and permitted under applicable laws and regulations to receive the information contained in this presentation in

accordance with the restrictions as set out in this section of the presentation; (ii) will base any investment decisions solely on information released by TRU via NZX and ASX (including, in the case of the SPP, the offer

booklet for the SPP), and (iii) agree to be bound by the limitations contained therein.

4
Disclaimer and important notice (continued)

Distribution of presentation:

This presentation (including an electronic copy) must not be distributed in any jurisdiction to the extent that its distribution in that jurisdiction is restricted or prohibited by law or would constitute a breach by TRU of

any law. The distribution of this presentation in other jurisdictions outside New Zealand or Australia may be restricted by law, and persons into whose possession this presentation comes should observe any such

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person in relation to the distribution or possession of this presentation from or in any jurisdiction.

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jurisdiction in which such an offer would be illegal. The offer and sale of the New Shares have not been, and will not be, registered under the U.S. Securities Act or the securities laws of any state or other jurisdiction of

the United States. Accordingly, the New Shares may not be offered or sold in the United States except in transactions exempt from, or not subject to, the registration requirements of the U.S. Securities Act and any

other applicable securities laws of any state or other jurisdiction of the United States.

Eligibility:

Determination of eligibility of investors for the purposes of the Offer (or any part of the Offer) is determined by reference to a number of matters, including legal and regulatory requirements, logistical and registry

constraints and the discretion of the underwriters and lead managers, and TRU. Each of the underwriters and lead managers and TRU and each of their respective related bodies corporate and affiliates, and each of

their respective directors, officers, partners, employees, representatives and agents, disclaim any duty or liability in respect of that determination and the exercise or otherwise of that discretion, to the maximum

extent permitted by law.

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liability, for any direct or indirect expenses, losses, damages or costs incurred by you as a result of your participation in the Offer and/or the information in this presentation being inaccurate or incomplete in any way

for any reason, whether in tort (including negligence), arising under statute, in contract or equity or otherwise. To the maximum extent permitted by law, the underwriters and lead managers and their respective

advisers, affiliates, related bodies corporate, directors, officers, partners, employees and agents (Specified Persons) make no representation or warranty, express or implied, as to the currency, accuracy, reliability or

completeness of information in this presentation and, with regards to each Specified Person, take no responsibility for any part of this presentation or the Offer. The Specified Persons make no recommendations as to

whether you or your related parties should participate in the Offer nor do they make any representations or warranties to you concerning the Offer, and you represent, warrant and agree that you have not relied on any

statements made by any of the Specified Persons in relation to the Offer and you further expressly disclaim that you are in a fiduciary relationship with any of them. You agree that you will not bring any proceedings

against or hold or purport to hold any Specified Person liable in respect of this presentation or the information in this presentation and waive any rights you may otherwise have in this respect. Statements made in this

presentation are made only as the date of this presentation. The information in this presentation remains subject to change without notice. TRU reserves the right to withdraw the Offer or vary the timetable for the

Offer (whether for the Placement or the SPP) without notice.

General:

For the purposes of this Disclaimer and Important Notice, "presentation" means the slides, any oral presentation of the slides by TRU, any question-and-answer session that follows that oral presentation, hard copies

of this presentation and any materials distributed at, or in connection with, that presentation.

Who is TruScreen
The TruScreen Technology

Why TruScreen

TruScreen Sales Strategy and Markets

TruScreen Highlights CY 24 – CY25

TruScreen Outlook: FY26 and Beyond

TruScreen Options Key Terms

6
Who is TruScreen

Dual listed on the Australian (ASX) (foreign exempt listing) and New Zealand (NZX) stock

exchanges, with a common ticker code of TRU.

TruScreen Group Ltd is a revenue generating Life Science company with FY25 annual

sales of NZ$ 1.7m, down from $2.1m in FY24. This lower result was largely due to delays in

programs in Zimbabwe (delayed until FY26), Vietnam (launched April 2025), and delayed

product registrations in Indonesia and Uzbekistan. Sales from these delayed commercial

activities are expected to be realised in FY26.

TruScreen Group Ltd expects FY26 sales to exceed NZ$ 2.8m

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Market Cap:

NZ $16.09M

Share Price:

AU$0.027 / NZ$0.029

Cash Balance (pro-forma):

NZ$365,000

Issued Capital: 554,907,719

Current Holders: 1942

Key FinancialsTRU Price History (NZX)

As at 28 May 2025

8
An Experienced Leadership Team

•Currently a Director and Chairman of a number of listed ASX

companies.

•Previous Executive Director of sales and distribution company

Arthur Yates & Co Limited, as well as Finance Director/CFO of

listed retailers on the ASX – M. S. McLeod Holdings Limited

(Downtown Duty Free), Galore Group Limited (Barbeques Galore)

and Brazin Limited (Bras N Things, Sanity Music).

•Prior to joining commerce, Tony was a partner of Cox Johnston &

Co, Chartered Accountants which has since merged with Ernst &

Young.

•Involved with TruScreen for a number of years. He is an experienced business

executive and has acted in a number of management roles including 20 years as a

senior partner of KPMG and its predecessor firms.

•Director of a number of private companies across a broad range of business activities

including corporate advisory, financial services, and funds management.

•Commerce graduate from the University of New South Wales, Sydney, Australia and a

Fellow of the Institute of Chartered Accountants in Australia and New Zealand. Chris is

also the Chair of TruScreen’s Audit, Finance and Risk Committee.

Mr. Anthony Ho

B. Com (UNSW), CA, FAICD,

FCIS, FGIA

Non-executive Chairman

Mr. Christopher Horn

B. Com (UNSW), FCA

Non-executive Independent Director

9
An Experienced Leadership Team

•MBA from the Macquarie Graduate School of Management,

and Bachelor of Nursing from the Auckland Technical

Institute.

•More than 20 years’ experience working in Asia and Pacific

markets in Healthcare, in sales, Marketing and leadership.

Juliet was the General Manager/Country Director for Johnson

& Johnson Medical in New Zealand and has held various roles

in Johnson & Johnson in Australia and New Zealand since

2012.

•Experienced medical device engineer and specialist in product research and

development. Research and Development Manager of the respiratory

humidification division of Fisher & Paykel Healthcare, an ASX/NZX listed

healthcare company.

•20 Years of experience, Dr. Cheung brings a strong understanding of

manufacturing processes and has worked with suppliers and manufacturers

across the glove.

•Technical background in opto-electronics and expertise in medical device

engineering is highly relevant to TruScreen, who’s cervical cancer screening

device harnesses opto-electronic signatures for screening results.

Ms. Juliet Hull

B.Nurse ATI, MBA MGSM

Non-executive Director

Dr. Dexter Cheung

B. Tech (Hons), M.Eng, PHD

Non-executive Director

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An Experienced Leadership Team

Mr. Guy Robertson

B. Com (Hons.) CA

CFO & Company

Secretary

Professor Michael

Campion

Medical Advisory

Committee Chair

•Martin Dillon, the CEO of TruScreen Group Ltd,

skilfully managed the company’s listing on the

NZX and oversees its strategic vision. With over

30 years of commercial experience, he has

engaged with health and regulatory authorities

worldwide.

•Martin has held senior executive roles including

at CEO and Managing Director level in private and

public companies in healthcare, advertising and

marketing.

Martin Dillon

CEO

•Guy is an experienced finance executive, having held

the positions of Director, Company Secretary and

Chief Financial Officer of both private and ASX-listed

companies in Australia and Hong Kong.

•Guy held senior roles in the Jardine Matheson Group

of Companies, including General Manager Finance of

Franklins Limited, Chief Operating Officer of Colliers

International Asia Pacific and Managing Director

(NSW) Jardine Lloyd Thompson.

•University of New South Wales graduate (1977),

Scientific Program Director of the British Society for

Colposcopy and Cervical Pathology (1985 - 1987).

•Victor Bonney Award recipient (London Obstetrics and

Gynaecology Society, 1986) for his pivotal research into

the role of human papillomaviruses in the causation of

cervical cancer.

•Director of the Preinvasive Unit, Gynaecological Cancer

Centre, Royal Hospital for Women, Randwick

•Published over 60 academic papers, articles, book and

book chapters and presented at numerous scientific

congresses.

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2025 & BeyondBuilding for the Future 2020-2024

Building the Fundamentals 2014 - 2020

The TruScreen Journey

China Growth continues

Distribution of Dalton Bio IVD HPV DNA products

Vietnam HPHA program targets 260,000 women,

Uzbekistan and Zimbabwe screening programs to

commence.

Indonesia and ASEAN commence commercial use

Global focus on AI boosts recognition of TruScreen

523% sales

growth in H1

2018 Oct

Recognition by

World Health

Organization

2019 May

2020 Jan

ASX Listing

2014 Nov

Listing on NZAX

2023-24

COGA Blue Book and CSCCP Guidelines include TruScreen

UNITAID recognises TruScreen’s value for Cervical Cancer screening

WHO invited TruScreen to participate in Key AI meeting for cervical cancer

screening

Vietnam – HPHA large scale screening MOU signed

2018 Jul

Comence large

scale pilot

programs in China

with CDC and COG

2018 Dec

Migration to NZX

2022

Managing COVID-19 challenges

Cost reduction

Manufacturing and business

development in China

Completion of major COGA study

Strengthen distributor

arrangement in Vietnam

CFDA (NMPA)

approval for second

generation device

2017 Dec

The TruScreen
Technology

13
Handheld device (HHD)

Intelligent Cradle

Single Use Sensor (SUS)

•Enabled by AI, TruScreen provides an accurate, real time cervical cancer screening solution

•Each TruScreen examination takes one to two minutes to produce results, compared to

conventional Pap tests which can take days, weeks, or even months in some countries, for a

result to be returned.

14
a pen-like wand covered by a

Single Use Sensor (SUS) is used

to gently touch multiple spots on

the cervix. The SUS contains a

precision lens and electrodes

which interfaces with the cervix.

It sends and picks up low level

electrical and optical signals (14

readings per second) from the

cervical tissue.

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How it works

15
The TruScreen Handheld Device (HHD) then applies

an integrated AI-enabled algorithm to analyse these

signals and compares them to an integrated

database of 2,000 patients drawn from a wide range

of geographic and ethnic backgrounds with differing

histological diagnoses.

This identifies the presence of abnormal (cancerous

and pre-cancerous) cells in the cervix and provides

physicians with real-time results.

2

How it works

16
✓Clinicians/physicians are able to immediately plan

appropriate patient care

✓Device has an expected life span of 5–7 years

✓Disposable SUS is used once per test per patient - ensures

there is no chance of cross-infection between patients

✓The entire patient data collection and analysis is self-

checked and controlled. No tissue sample needs to be

taken. These measures ensure that the results are reliable

and consistent, and that the examination is painless and

safe

✓TruScreen has been used on over 1 million women and

there has never been a single adverse event reported

Why TruScreen?

18
Extensive body of clinical evidence

Over 40,000 women in clinical trials to date***

***Total number of subjects across published and unpublished clinical studies in English, data from TruScreen device generation I and II

YearCountryInvestigatorN

2002ChinaDr Huang Yi683

2002ChinaDr Wang Ziyao301

2003UK/Aus Prof A. Singer651

2008Poland Dr. Pruski234

2009ChinaProf Ding Ma302

2010ChinaDr. He Xiu-Kui392

2010ChinaProf Fengnian Rong532

2010Korea Dr. Hyeong Soo Lim292

2011Poland Dr. Pruski293

2011ChinaDr. Li Xia500

2015Turkey Dr. Özgü E285

2016ChinaDr. LI Pei,368

2017Mexico Dr. Ricardo Lua521

2018ChinaDr. Huixia Yang2730

2018-2021China54 Hospitals14,982

YearCountryInvestigatorN

2019ChinaDr. Baojin Wang315

2019ChinaDr. Wei Zhang1030

2019ChinaDr. Yanhong Jia320

2020ChinaDr Kang Yanan192

2021ChinaProf Chen Fei974

2021ChinaDr Wei Yingting458

2022ChinaDr Chen Zhenbo476

2022ChinaDr Zhu Bo283

2022ChinaDr Zhao Yuqian1319

2022AustraliaDr Jessica Vet506

2023ChinaDr Luo Lianmei318

2023ChinaDr Liu Hang997

2024ChinaDr Yang Yueming489

2024ChinaDr Fengyi Xiao & Long Sui1908

2024Saudi ArabiaDr S Maqsood and DrM Alhudhud507

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•TruScreen specificity surpassed Liquid Based Cytology (LBC) and hrHPV

•TruScreen was determined to be a simple, effective and rapid real-time cervical cancer screening method

•TruScreen was determined to be an appropriate primary cervical cancer screening tool in regions with high morbidity and mortality

to cervical cancer

•Also highlighted the superiority of TruScreen against alternative screening methods as well as the potential benefits of a TruScreen-

HPV co-testing. The size of the COGA study, which was TruScreen’s largest clinical evaluation to date, lends extra significance to its results and

broad conclusions.

TruScreen’s

sensitivity

was well above that for LBC

(87.5% v’s 66.5%), with a high

degree of statistical

significance (p<0.001).

TruScreen’s

specificity

(88.4%) was higher than both

LBC (86.3%) and hrHPV

testing (78.3%) (also at

p<0.001).

The sensitivity of TruScreen-hrHPV co-

testing (carrying out with multiple types

of screening tests at the same time, as

opposed to a single type) was higher than

that of LBC-hrHPV co-testing,

98.4% vs 95.9%

(statistically significant at p=0.006).

COGA Trial (n= 15,661, 2018-2021)


4

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Why TruScreen?

TruscreenLiquid Based Cytology (LBC)HPV DNA

Real time results

Low infrastructure

costs

Strong clinical results

Objective results

Low training threshold

Portable

No cell or tissue

samples taken

TruScreen Sales Strategy
and Markets

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TruScreen Sales Strategy

•TruScreen focuses on emerging economies such as China, India, Indonesia, Mexico,

Uzbekistan, Vietnam and Zimbabwe. Unlike the developed western markets, these countries

have no or minimal large-scale cervical cancer screening programs and infrastructure.

•This creates a gap in the market for TruScreen that is not available in the developed market and

allows quicker market access from a relative lack of existing competition.

•In contrast to competing products such as cytology and HPV DNA screening TruScreen is

‘capital light’, not requiring lab infrastructure to be established prior to commencing screening.

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Recurring Revenue Model

•TruScreen manufactures two devices –

oone made in China for use in China, where locally manufactured products have

preferential market access

oone made in Australia for other markets

•For each patient screened with the TruScreen device a new disposable Single Use Sensor

(SUS) must be used. This creates a recurring revenue model with a consumable sale for

each patient screened with TruScreen.

24
Entry into Public Screening Programs

•TruScreen’s sales to date have been achieved largely through traditional sales of devices and

Single Use Sensors to hospitals and clinics. In FY25 these traditional channels made up 99%

of sales.

•Following the previous success of TruScreen’s use in public screening programs in Zimbabwe,

TruScreen is currently targeting public screening programs in Zimbabwe, Vietnam, Uzbekistan

Mexico and Eswatini.

•These programs have large numbers of enrolled women (e.g Ho Chi Minh City - 260,000 women

to be screened over 5 years) and are expected to contribute greater than 20% of total sales in

FY26.

•An ever increasing percentage of sales is expected from these programs in following years.

25
China

477M

RUSSIA

48M,

CENTRAL ASIA

13M

ASEAN &

INDONESIA

142M

MEXICO

46M

VIETNAM

36M

SAUDI

11M

SOUTHERN

& CENTRAL

AFRICA

134M

INDIA

468M

UZBEKISTAN

12M

TruScreen’s presence and global markets

Existing market

Target market

26
World Health Organisation (WHO)

UNITAID

Clinton Health Access Initiative

Daffodil Foundation - Australia

China Obstetricians and Gynaecologists

Association

China Society for Colposcopy and

Cervical Pathology

Russia Cervical Cancer Screening

Guideline

Vietnam Hospital Technical List

•CE Mark, European Union

•NMPA, China

•TGA, Australia

•MHRA, UK

•SFDA, Saudi Arabia

•Roszdravnadzor, Russia

•COFEPRIS, Mexico

•WAND New Zealand

•Zimbabwe Ministry of Health

•IEAKI Indonesia

•Vietnam Technical List

TruScreen Regulatory Approvals

ISO 13485

ISO 60601-1-2

CE Mark

International Approvals:Recognized by

International Quality

Accreditation:

TruScreen Highlights
CY24 - CY25

28
TruScreen and Dalton BioScience

MOU signed February 2025 between TruScreen Group Ltd and Hangzhou Dalton Bioscience

•TruScreen to distribute globally (excluding USA and Canada) via selected distributors DaltonBio HPV related IVD

products including DNA tests and Self Sampling.

•DaltonBio to explore opportunities to assist TruScreen’s AI enabled real time cervical screening device within its

distribution network, notably its 200 Sub-distributors in China and regulatory and distribution partners in South

America

29
Key market China, accounting for over 85% of global sales,

exceeded budget and is poised for expansion in 6 key provinces

•Key provinces for growth: TruScreen’s China distributor Beijing Siweixiangtai

Technology Co Ltd (SWXT) is targeting 6 key provinces for growth in FY26 - Guangxi,

Jiangsu, Hunan, Zhejiang, Shanghai and Guangdong. These provinces have a

combined population of 496 million, and an addressable screening market of

approximately 124 million women.

•TruScreen unaffected by US and China proposed tariff regimes: TruScreen markets

both an Australian and a Made in China device, providing a dual product strategy in the

key China market, with preferential market access for China manufactured products

•SUS Pull Through: Consumable Single Use Sensor (SUS) pull through per month per

device has reached peak of 142 SUS per month per device, an increase of 30 % over 12

months.

•Software Upgrade: China’s NMPA registration variations have been approved and

software upgrade on Chinese devices has commenced. The upgrade will improve user

experience for clinicians and extend the device’s in-use service interval.

CHINA

477 million

women of

screening age*

30
•Private Sector Expansion: SWXT targeting of the growing China private health

sector including private clinic and Health Check Centre approvals in Jiangsu and

Shenzhen, and entry into the Luxury Hospital and Traditional Chinese Medicine

Hospital sectors.

•Public Health Insurance: In addition to having 11 provinces with approved pricing

for TruScreen, Beijing has awarded public health insurance reimbursement for

eligible TruScreen patients. Shanghai has completed the final round of evaluation

for public health insurance reimbursement and once he administrative processes

for this are formalised sales are expected to grow rapidly in this province.

CHINA

477 million

women of

screening age*

In April 2025 TruScreen and SWXT

planned the expansion of TruScreen

sales in China. From left to right: Mr Li,

partner SWXT, Marty Dillon, CEO

TruScreen, Miss Su Siming, Managing

Director SWXT, Tony Ho, Chair

TruScreen and Mr Wang, SWXT

manager of TruScreen business in

China

31
TruScreen selected to screen 260,000 women in Ho Chi

Minh City and adoption in Vietnam picks up pace

VIETNAM

36 million

women of

screening age*

•The formal agreement to conduct a 5-year program to screen 260,000 women for cervical

cancer in Ho Chi Minh City was signed in April 2025

Following the signing of a Memorandum of Understanding with the Ho Chi Minh City Public Health

Association and Gorton Health Services (Truscreen’s Vietnam distributor) in November, TruScreen

has been selected as the primary screening methodology for the capability of its unique, AI-

enabled real time cervical cancer screening technology to assist the Government of Vietnam

achieve its goal of screening 60% of women aged 30 to 54 for cervical cancer (currently only 25%

screened).

•Public Hospital Adoption

In January 2025 Professor Michael

Campion presented at Tu Duc

Hospital in Ho Chi Minh City,

leading to 6 major Ho Chi Minh City

hospitals agreeing to adopt and

install TruScreen.

April 12 2025. TruScreen Chair Tony

Ho, President of the Ho Chi Minh City

Public Health Association Dr Le

Truong Giang and Managing Director

of Gorton Health Services Mr An

Trang sign the formal agreement to

conduct a 260,000 women screening

program in Ho Chi Minh City.

32
TruScreen re-enters India with appointment of Renovate

Biologicals Pvt Ltd in April 2025

INDIA

468 million

women of

screening age*

India holds one-sixth of the world's population and one woman dies from

cervical cancer every eight minutes in the country.

The cervical cancer screening rate is only 2%, and India’s National

Academy of Medical Sciences (NAMS) has recently set a target of 70% by

2030.

The appointment of Renovate Biologicals now gives TruScreen distribution

capability in 3 of the 4 most populous countries in the world - China, India

and Indonesia.

33
Indonesia product registration completed and distributor

appointed, with commercial activity commenced in May 2025

INDONESIA

96 million

women of

screening age*

•Distributor Appointed: Following the completion of product registration,

TruScreen appointed a new Indonesian medical products distributor PT

Mawar Mitra Medika with commercial sales commenced in the world’s

largest Islamic nation, with a population spread over 14,000 islands.

TruScreen offers an ideal solution to providing screening to a geographically

dispersed and diverse population.

•AI presentation by CEO to MOH officials and KOL’s. In December 2024,

TruScreen presented to an AI Health webinar organised by Austrade and the

Indonesian Ministry of Health. TruScreen was one of only two companies

invited to present at this webinar, a recognition of our growing reputation as

a leader in AI innovative health technology with a particular relevance to

emerging economies.

34
TruScreen results and suitability in emerging markets continues to be validated by

independent studies and the World Health Organization

•October 2024 – UNITAID included TruScreen in its

technology landscape report “Screening and

treatment of pre-cancerous lesions for secondary

prevention of cervical cancer”, the only opto-

electrical device included

•October 2024 - TruScreen selected as a ‘Top 6

Pick’ - one of six global companies, from a cohort

of 580 companies, that will have an impact on

global women’s health. The evaluation was

conducted by Austrian based StartUs Insights.

35
•November 2024 – following the UNITAID inclusion, TruScreen were invited to present at the World Health

Organisation (WHO) key meeting to further the use of AI technologies for screening of cervical cancer in

Edinburgh, and were the only opto-electric tissue differentiating medical device company invited to participate.

•November 2024 - An Obstetrics and Gynaecology Hospital of Fudan University study (n=1908) concluded that

TruScreen optoelectronic real time screening detection accuracy was outperformed liquid-based cytology

(LBC) in patients with type 3 cervical transformation zone. The report was published by leading research

journal, Germany’s Springer Nature

•July 2024/April 2025 - The preliminary publication in July 2024 of a Saudi Arabia study investigating TruScreen’s

performance versus pap smears in cervical cancer detection, was peer reviewed and published by globally

renowned BMC Women’s Health. The study, entitled “Beyond Tradition: Investigating TruScreen’s Performance

Versus Pap Smear in Cervical Cancer Detection”

1

tested 507 women and was first published on Research

Square1 Link on 25 July 2024. Results showed that TruScreen demonstrated: High Sensitivity: TruScreen 83.3%,

compared to Pap Smear 66.7% / High Specificity: TruScreen 95%, compared to Pap Smear 98.2%

•April and May 2025 – TruScreen and the Baylor Foundation Eswatini agree on the validation and initial product

training for TruScreen to be used for a pilot program to screen women in Eswatini, formally Swaziland

TruScreen Outlook:
FY26 and beyond

37
FY25 Sales (Actual)FY26 Sales (Projection)

Projected +64% YOY increase with increased diversification of revenue

NZ$ 1.71m

NZ$ 2.8m

This slide contains forward-looking information and should be read in

conjunction with the important information on pages 2 – 4 of this presentation

38
TruScreen Expected Sales Increase FY26

Six key

provinces

targeted;

Expected sales

increase >15%

> NZ$ 1.75m

Public

Screening

Program to

resume;

Expected sales

> NZ$ 300k

Indonesia and

India sales

commence;

Expected sales

> NZ$ 300k

Dalton Bio IVD

HPV Test sales

to commence;

Expected sales

> NZ$ 200k

Ho Chi Minh

City Public

Screening

Program to

commence and

hospital sales

to increase;

Expected sales

> NZ$ 150k

Public

Screening to

commence;

Expected sales

> NZ$ 100k

Expected sales

> NZ$ 100k

NZ$ 2.8m

This slide contains forward-looking information and should be read in conjunction with the

important information on pages 2 – 4 of this presentation

39
Focus on key growth provinces (Shandong,

Jiangsu,, Hunan, Zhejiang, Guangdong,

Guangxi) - Total popn 496m

Market expansion to continue with

China the key focus

Strengthen vertical Asian market from

Indonesia through China, and capitalise on

Indian distribution network

Build on International NGO Recognition (WHO,

UNITAID, CHAI, COGA , CSCCP) to build

acceptance and remove barriers to sale

Strengthen China Distribution

Capability via Strategic Partnership

with Dalton Bio

Target Govt and NGO funded

programs in Zimbabwe, Vietnam,

Mexico and Uzbekistan

Growth Strategies

40
Developing strategic partnerships for

complementary woman’s health services

Focus on countries with limited or nil

cervical screening capability

Expand product portfolio to include Dalton

Bio HPV related IVD products DNA tests,

including HPV DNA tests and self sampling

Capitalise on global focus on AI

enabled cervical cancer technologies –

e.g. WHO

Reduce SUS and Device COGS and

increase margins

Growth Strategies (cont.)

TruScreen Options
Key Terms:

42
Attached Share Option

Subject to Shareholder approval by way of an ordinary resolution at a special meeting of TruScreen shareholders,

Eligible Shareholders who participate in the SPP or the Placement will also receive an unlisted option (“Share

Option”) with the following rights and liabilities:

(a) Rights and liabilities attaching to the Options: Each Share Option issued by the Company will entitle

its holder (“Optionholder”) to subscribe for one (1) fully paid ordinary share in the Company (“Share”) on

the following terms and conditions.

(b) Expiry Date:

i. The Share Options will expire at 7:00pm New Zealand Time on the date that is one (1) year from the

date of issue of the initial shares issued pursuant to the SPP or Placement (as applicable) (“Expiry

Date”).

ii.Any Share Options not validly exercised before the Expiry Date will automatically lapse on the

Expiry Date.

(c) Exercise Price: The amount payable upon exercise of each Share Option is A$[0.02] (NZ$[0.022]

(“Exercise Price”).

(d) Exercise multiples: The Share Options held by an Optionholder may be exercised in whole or in part. If

exercised in part, there is no minimum exercise multiple.

43
(e) Exercise Notice: An Optionholder may exercise their Share Options at any time before they lapse by

lodging with the Company:

i. a written notice of exercise of Share Options specifying the number of Share Options being

exercised (“Exercise Notice”); and

ii.electronic funds transfer for the Exercise Price for the number of Share Options being exercised.

(f) Effective exercise: The exercise of any Share Options is only effective on and from the later of:

i.the date of receipt by the Company of an Exercise Notice for those Share Options; and

ii.when the Company has received the full amount of the Exercise Price for those Share Options in

cleared funds.

(g) Timing of issue of Shares on exercise: The Company will issue to the Optionholder, on the last

Australasian Business Day of the calendar month following a valid exercise of Share Options in

accordance with paragraph (f) above, the number of Shares required under these terms and conditions to

be issued in respect of the number of Share Options validly exercised by the Optionholder. The Company

will take any necessary steps to ensure that, immediately after the Shares are issued, they are quoted on

the ASX or NZX.

44
(h) Shares issued on exercise: All Shares issued upon the exercise of any Share Options will upon

issue rank pari passu in all respects with other Shares.

(i)Share Options not transferable: The Share Options are not transferable.

(j) Quotation of Share Options: The Company will not apply for quotation of the Share Options on ASX

or NZX.

(k) Reorganisation of capital: If at any time the issued capital of the Company is reorganised, all

rights of an Optionholder are to be changed in a manner consistent with, and to the extent necessary

to comply with, the Listing Rules applying to reorganisations of capital at the time of the

reorganisation.

45
(l) Participation in new issues: There are no participation rights or entitlements inherent to the Share

Options and the Optionholders will not be entitled to participate in new issues of capital offered to

Shareholders during the currency of the Share Options (unless the relevant Share Options have been

validly exercised and the Optionholder has been entered in the register of members of the Company as

holding the Shares issued to it on exercise of those Share Options).

(m) No voting rights: The Share Options do not carry any voting rights.

(n) Change in exercise price: Subject to paragraph (k) above, an Option does not confer the right to a

change in exercise price or a change in the number of underlying securities over which the Option can

be exercised.

Terms capitalised but otherwise not defined in pages 42 – 44 of this Investor Presentation shall have the meaning given to them

in the SPP Booklet released to the market on or about the date of this Investor Presentation.

46
Contact us for more Information

Guy Robertson

Chief Financial Officer


M – +61 407 983 270

E – guyrobertson@truscreen.com

TruScreen

Suite 3.03 18 Orion Rd

Lane Cove West NSW 2066

Australia

www.truscreen.com

Martin Dillon

CEO

M - +61 449 115 065

E – martindillon@truscreen.com

TruScreen

Suite 3.03 18 Orion Rd

Lane Cove West NSW 2066

Australia

www.truscreen.com

References

*Women aged 15-64 years as detailed in the World Fact Book : https://www.cia.gov/the-world-factbook/

Data sourced from publicly available filings. Our datasets may not be complete. Automated analysis can produce errors. If you believe any data on this page is incorrect, please contact us at hello@nzxplorer.co.nz. For informational purposes only. Not investment advice.