Spectral Medical (EDT) AGM 2024 summary

Opening remarks and agenda

• Meeting conducted both in person and via live webcast, with clear instructions for participation and Q&A procedures.

• Formal agenda included presentation of financial statements, election of directors, auditor appointment, and CEO presentation.

• Management presentation and Q&A session scheduled as part of the meeting agenda.

• Voting was facilitated online and by ballot, with results to be released via press release.

Financial performance review

• Annual audited financial statements for the year ended December 31, 2023, and related MD&A were distributed and made available online.

• Closed $8.5 million CAD convertible note financing in May 2024, led by an existing investor, with company-friendly terms and a 4-year maturity.

• Approximately $900,000 in net proceeds from stock option and warrant exercises in late May and June, supporting funding through trial completion.

• Cash runway projected to last through final patient enrollment.

• Share price performance over the past year has outperformed peers and broader indices, with a 63% increase attributed to strong trial enrollment and effective marketing.

Board and executive committee updates

• Seven directors were nominated and confirmed as willing and qualified to serve for the ensuing year.

• Cristiano Franzi welcomed as a new board member, bringing expertise relevant to the company’s strategic direction.

• Recognition given to retiring board member Tony Bihl for 16 years of service, including 14 as Chairman.