• Record Group Revenue of A$32.3 million, up 17% year-on-year
• US Technegas® revenue of $2.7 million, up 226% year-on-year
• Third-party distribution revenue of $15.6 million, up 26% year-on-year

Cyclopharm delivered a strong financial and operational performance in 2025, recording another year of record revenue. The 17% increase in Group Revenue was driven by accelerating sales into the US, up 226%, reflecting the building momentum of the US roll out strategy. This strong performance has propelled the United States to the position of the largest individual Technegas® market in its first full year of operation following reimbursement approval. The building momentum of the US roll out supports expectations the US will drive a transformational step change in Technegas® sales. While the US is key focus, Cyclopharm continued to expand the geographic reach of Technegas® in 2025 by securing regulatory approval in Colombia in December 2025. Technegas® is now helping patients across 67 countries. The strong contribution to 2025 Group Sales Revenue by Technegas® was complemented by a continued solid performance from Third-party distribution sales globally. Cyclopharm continues to leverage its expanding global footprint, regulatory expertise and direct marketing capabilities to grow global Technegas® sales and the Third-party distribution partnerships business. The rapid expansion of the Third-party distribution business is supported by Cyclopharm's distribution network that directly services 17 of the countries where we directly operate. The Company continues to invest in our longer term Beyond Pulmonary Embolism, (Beyond PE), growth strategy. Cyclopharm is supporting new and existing clinical trials that demonstrate Technegas®' true functional lung ventilation imaging can be used to support patients with lung health conditions Beyond PE.

Cyclopharm reaffirmed guidance of reaching 250-300 revenue generating Technegas® sites in the US during the second half of 2026.

Cyclopharm's entry into the US market is expected to help accelerate the 'Beyond PE' growth strategy given the USFDA marketing approval allows for the use of Technegas® in lung imaging more broadly, which will support the use of Technegas® in new diagnostic applications in that market without the need for additional regulatory approval.