• Company's application for a Category III CPT code for EchoSolv AS in the US was unsuccessful
• Evaluating options for reimbursement, including requesting reconsideration with the AMA
• Continuing engagement with the AMA on new AI-based CPT code framework

Echo IQ Ltd (ASX: EIQ), an AI and medical technology company, has announced that its application for a Category III Current Procedural Technology (CPT) code for its EchoSolv AS product in the US was unsuccessful, per the American Medical Association's (AMA) filing on 3 October 2025 (US time). Following this decision, Echo IQ will be evaluating several options regarding reimbursement and will continue to work with customers utilizing Miscellaneous Code 93799. One option being considered is lodging a request for reconsideration with the AMA, which is required to be submitted within the next 14 days for a further decision at a future Editorial Panel meeting. The reconsideration process enables applicants to seek review of a CPT Editorial Panel decision, where it is believed that relevant information existing at the time was not presented or a material procedural irregularity occurred. Concurrently, the company will continue to engage with the AMA regarding the CPT Digital Medicine Coding Committee's proposal for new Category III CPT codes, specifically designed for Artificial Intelligence (AI) based technologies. This proposal, introduced during the last CPT Editorial Panel meeting on 18 September 2025, outlines the development of a framework for new CPT codes under a new category titled Clinically Meaningful Algorithmic Analysis (CMAA). These new codes for health AI services that 'augment physician capabilities and improve patient care' are anticipated to be implemented during CY2026. Echo IQ believes that the pending CMAA framework will provide another avenue for more specific reimbursement in the US through a standardized framework which encourages technological innovation. Alongside these reimbursement initiatives, Echo IQ remains focused on the broader deployment of EchoSolv AS in the US, progressing its FDA submission for EchoSolv HF, and pursuing licensing and partnership opportunities for its EchoSolv technology.

While more robust reimbursement remains a key factor in Echo IQ's commercialization journey, the company is continuing to advance a number of initiatives, including expanding commercial use with Miscellaneous Code 93799, regulatory engagement with the FDA for EchoSolv HF, expanded US deployments of the EchoSolv platform, and partnerships to strengthen the commercialization of its technology. These parallel efforts leave Echo IQ well positioned to drive adoption and unlock long-term value for shareholders.