ersonal use only

Half-Year

Results 2022

Investor Presentation

Ralph Highnam, Group CEO

Craig Hadfield, CFO & Company Secretary

Important Notice & Disclaimer

This presentation, dated 23rd November 2021, has been prepared solely for the purpose of providing potential investors with information about Volpara Health Technologies Limited ("Volpara," "VHT," or the "Company"). The information contained in this presentation is of a general background nature, is in summary form, and does not purport to contain all the information that a potential investor may need or desire. Potential investors should conduct their own investigation and analysis of Volpara and of the information contained in this presentation and should rely solely on their own judgement, review, and analysis in deciding whether to invest in Volpara. The information in this presentation has been prepared in conjunction with an oral presentation and should not be taken out of context. The content of this presentation is provided as at the date of this presentation (unless otherwise stated) and the information in this presentation is subject to change without notice.

onlyForward-looking statements

This presentation may include forward-looking statements. Such statements can generally be identified by the use of words such as "may," "will," "expect," "intend," "plan," "estimate," "anticipate," "believe," "continue," "objectives," "outlook," "guidance," "forecast," and similar expressions. Indications of plans, strategies, management objectives, sales, and financial performance are also forward-looking statements. Such statements are based on assumptions and contingencies which are subject to change without notice and are not guarantees of future performance. Such statements involve known and unknown risks, uncertainties, assumptions, contingencies, and other factors, many of which are outside the control of Volpara. No representation is made or will be made that any forward-looking statement will be achieved or will prove to be correct. Actual results, performance, operations, or achievements may vary materially from any forward-looking statements. Circumstances may change and the content of this presentation may become outdated as a result. Readers are cautioned not to place undue reliance on forward-looking statements, and Volpara assumes no obligation to update such statements except as required by law. No representation or warranty, expressed or implied, is made as to the accuracy, reliability, adequacy, or completeness of the information contained in this presentation.

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.

Information is not financial or product advice or offer of securities

This presentation is not, and is not intended to constitute, financial or product advice, or an offer, invitation, solicitation, or recommendation to acquire or sell Volpara shares or any other financial products in any jurisdiction, and is not a prospectus, useproduct disclosure statement, disclosure document, or other offering document under Australian law or any other law. This presentation also does not form the basis of any contract or commitment to sell or apply for securities in Volpara or any of its subsidiaries. It is for information purposes only. Volpara does not warrant or represent that the information in this presentation is free from errors, omissions, or misrepresentations or is suitable for any intended use. The information contained in this pr sentation has been prepared without taking account of any person's investment objectives, financial situation, or particular needs and nothing contained in this presentation constitutes investment, legal, tax, or other advice. The information provided in this presentation may not be suitable for a potential investor's specific needs and should not be relied upon in substitution obtaining independent advice. Subject to any terms implied by law and which cannot be excluded, Volpara accepts no responsibility for any loss, damage, cost, or expense (whether direct, or indirect, consequential, exceptional, or special damages including but not limited to loss of revenue, profits, time, goodwill, data, anticipated savings, opportunity, business

reputation, future reputation, production or profit, any delay costs, economic loss, or damage) incurred by any person as a result of any error, omission, or misrepresentation in this presentation.

Preparation of information

All financial information has been prepared and reviewed in accordance with Generally Accepted Accounting Practice in New Zealand, New Zealand Equivalents to International Financial Reporting Standards, and International Financial Reporting Standards. Certain financial data included in this presentation is "non-IFRS financial information". The Company believes that this non-IFRS financial information provides useful insight in measuring the financial performance and condition of Volpara. Readers are cautioned not to place undue reliance on any non-IFRS financial information, including ratios, included in this presentation.

Third-party information and market data

ersonalThe views expressed in this presentation contain information that has been derived from publicly available sources that have not been independently verified. No representation or warranty is made as to the accuracy, completeness, or reliability of the information. This presentation should not be relied upon as a recommendation or forecast by Volpara. Market share information is based on management estimates except where explicitly identified.

No liability or responsibility

The information in this presentation is general in nature and is provided in summary form and therefore does not purport to be complete. No other party than Volpara has authorised, permitted, or caused the issue or lodgement, submission, dispatch, or provision of this presentation, and there is no statement in this presentation which is based on any statement made by any of them or by any party other than Volpara. To the maximum extent permitted by law, Volpara and each of its affiliates, directors, employees, officers, partners, agents, and advisers expressly disclaim all liabilities in respect of, and make no representations regarding, and take no responsibility for, any part of this presentation and make no representation or warranty as to the currency, accuracy, reliability, or completeness of this presentation.

To the maximum extent permitted by law, Volpara and each of its affiliates, directors, employees, officers, partners, agents, and advisers and any other person involved in the preparation of this presentation disclaim all liability and responsibility (including without limitation, any liability arising from fault or negligence) for any direct or indirect loss or damage which may arise or be suffered through use or reliance on anything contained in, or omitted from, this presentation. Volpara accepts no responsibility or obligation to provide an update in respect of any matter arising or coming to their attention after the date of this presentation which may affect any matter referred to in this presentation. Each recipient of this presentation represents and warrants to Volpara that it is able to receive this presentation without contravention of any applicable law or legal restriction in the jurisdiction in which the recipient resides, conducts business, or receives this document.

This presentation should be read in conjunction with Volpara's other periodic and continuous disclosure announcements lodged with ASX.

2

onlyuse ersonal3

Our Mission

Saving Families from Cancer

many more lives.
for their populations.
the prospect of saving
screening might look like
letters.
again, AI and software offer
optimal breast cancer
density notification
lung cancer market where,
countries understand what
and customised patient
but expansion into the US
reviewed papers-helps
density website
testing for breast cancer
unprecedented 200 peer-
consumer-facingbreast
reach in not only genetic
world-andan
have launched a
set the stage for greater
in countries around the
women directly, we
commercial partnerships
Our work with researchers
To reach and educate
Finally, our strategic

Half-year 2022: Volpara's growing impact

While noting an incredibly busy commercial HY, we recognise that for many of our employees and investors, an important outcome is impact. We are getting closer to not just early detection but prevention of breast cancer.

onlyWith over 13.4 million US women now using at least one Volpara product, and many women across Australia and New Zealand, it's clear we are helping more women get safer, more comfortable, and more accurate breast cancer screenings.

useResults from studies like the 10-year DENSE trial show that density-

ersonalbased screenings lead to significant increases in the numbers of cancers caught early.

4

1 Comparatives are Half-year2021 results unless otherwise stated.
2 Normalised non-GAAPadjusted loss is net loss before interest, tax, depreciation, amortisation, impairment, one-offitems, and non-cashitems.

Half-year 2022 highlights1

ANNUAL RECURRING REVENUES

US$20.4M (NZ$29.0M)

onlyUp from US$12.8M (NZ$19.9M)

NORMALISED NON-GAAP LOSS2

NZ$6.4M

use4% improvement

34% (approx.)

ersonalof women having a Group product applied on their images and data, up from approx. 27%

5

TOTAL REVENUE

NZ$12.3M

Up 30% (up 38% in constant currency)

NET OPERATING CASH OUTFLOW

NZ$5.5M

30% improvement from

NZ$7.8M

GROSS PROFIT MARGIN

91.4%

Last year was 91.7%

SUBCRIPTION REVENUE

NZ$11.8M

Up 35% (up 42% in constant currency)

NET LOSS AFTER TAX

NZ$8.5M

4% improvement

CASH AND CASH EQUIVALENTS

NZ$25.0M

at end HY21, down from

NZ$32.2M at end FY21, due to normal operating activities

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Volpara Health Technologies Ltd. published this content on 22 November 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 22 November 2021 21:46:08 UTC.