MedPal AI (MPAL) investor relations material

Trading and liquidity

• New Health dispensed over 2,300 private prescription orders on 5 Oct 2026, with total order value of ~£0.3m.

• Cash, debtors and stock totaled ~£6.36m as at 6 Oct 2026, including cash balances of ~£3.39m; figures are unaudited.

• Other working-capital assets: VAT ~£1.40m, September NHS prescription income ~£0.36m, estimated GLP-1 manufacturer rebates ~£0.59m and medication stock at cost ~£0.62m.

• The £5m placing proceeds, received 24 Sep 2026, are being applied principally to acquire stock to meet order growth; the placing was settled in full and predominantly taken up by existing shareholders.

Working capital and funding

• Indicative term sheet received from a non-bank lender for an £8m working-capital facility; discussions with UK clearing banks and specialist lenders continue on receivables-backed funding.

• No facility agreement has been entered into; terms remain under negotiation and completion is uncertain.

• No equity fundraising has been agreed and none is planned.

Growth and order economics

• New Health incurs discretionary marketing and introductory-pricing costs to acquire customers on their first order; acquisition spend can be adjusted and is expensed as incurred.

• Since July 2026, repeat orders at every order cycle have generated positive margin after medication costs; margin increases from the second order, with repeat orders expected to contribute more to cash flows as customers reorder.