Echo IQ (EIQ) Investor update summary

Recent milestones and commercial progress

• Expanded commercial agreement with Mayo Clinic for EchoSolv HF, enabling potential distribution across its network and over 80 partner hospitals after FDA clearance.

• Deployed EchoSolv AS within Mount Sinai Health System, covering all facilities and enabling a hub-and-spoke rollout.

• Achieved a 3-year commercial agreement with Mayo Clinic prior to FDA clearance, reflecting strong technology validation.

• Quarter-on-quarter growth from Q4 to Q1 reached 130%, with over 65 qualified opportunities in the sales funnel.

• Strategic focus on large institutions and high-volume centers, with a growing sales team covering all major U.S. regions.

Regulatory and reimbursement status

• Currently in the standard FDA 510(k) review process for EchoSolv HF, with ongoing Q&A and high confidence in near-term clearance.

• Confident in launching EchoSolv HF into an existing CPT code (0932T) and actively engaging with CMS and HHS for future reimbursement pathways.

• Pressure testing reimbursement codes for EchoSolv AS with select customers and Medicare administrators, with positive early feedback.

Financial and operational highlights

• Maintains a strong balance sheet with AUD 11.5 million in cash and a monthly burn rate of about AUD 1 million, providing a 12-month runway.

• Additional AUD 1 million expected from an Australian R&D rebate in early Q2.

• Share price has seen significant appreciation since December, with leadership believing the company remains undervalued.

• First significant revenue ramp anticipated in the second half of the year, with analyst forecasts projecting steep growth into 2027-2028.