• Sales of the Pulse arterial health monitor continued to grow, with FY25 sales exceeding A$0.7m and total units sold exceeding 2,100
• Launched 'On-Demand' Cardiovascular Assessment feature in the CONNEQT App to increase user engagement and support transition to subscription-based digital health services
• Evolving the SphygmoCor XCEL platform to support a subscription-based clinical model, enabling recurring revenue tied to report usage

In Q4 FY25, Cardiex advanced several core initiatives across consumer, clinical, and research markets, setting the stage for sustained growth into FY26. Sales of the CONNEQT Pulse continued to accelerate, supported by strong consumer engagement, positive clinical feedback, and growing interest from decentralized research sponsors. Key product and platform updates - including the launch of On-Demand Cardiovascular Reports in the CONNEQT App and the forthcoming upgrade to the SphygmoCor XCEL - are expanding the Company's recurring revenue model and deepening its integration across both at-home and in-clinic use cases. The marketing team made significant progress in optimizing paid acquisition and lead generation strategies, laying the foundation for more scalable, cost-efficient growth. Clinician and consumer interest continues to inform product development and commercialization strategy, particularly in evolving the business model toward subscription-based services. The Company is also exploring commercialization opportunities for the Pulse in Australia following its inclusion in the ARTG. Overall, Cardiex has achieved significant progress within just six months since starting to ship the Pulse, reflecting the Company's commitment to regulatory excellence, consumer trust, and building a scalable platform for long-term growth.

The Company expects that the introduction of in-app monetization will provide new levers to reduce customer acquisition cost by lowering the upfront cost of entry. By shifting more of the product's value into the software layer, Cardiex gains the flexibility to offer pricing models that reduce purchase friction and improve conversion. This approach is expected to support broader accessibility and improve marketing efficiency over time.