Spectral Medical (EDT) AGM 2025 summary

Opening remarks and agenda

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

• Voting on resolutions available online and by ballot for registered shareholders and proxy holders.

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

• Management presentation and Q&A session outlined as the main agenda items for the meeting.

Financial performance review

• Annual audited financial statements for fiscal year ending December 31, 2024, were distributed and made available on SEDAR.

• Operating loss increased from CAD 11.07 million to CAD 15.08 million, mainly due to non-cash items related to convertible notes and derivative features.

• Operating cash expenses remained consistent year-over-year; the reported loss was largely non-cash.

• Company secured financings in 2024 and beyond, all on favorable terms with strategic capital partners.

• Vantive provided approximately $20 million in financial commitments, including milestone payments, convertible notes, and promissory notes.

• Vantive financing is structured to fully fund operations through potential PMX clearance and commercialization.

Board and executive committee updates

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

• Board members acknowledged for their global contributions and ongoing commitment.