Announcement PDF Enlitic, Inc. Appendix 4E Preliminary Final Report 1. Company details Name of entity: Enlitic, Inc. ARBN: 672 254 027 Reporting period: For the year ended 31 December 2025 Previous period: For the year ended 31 December 2024 2. Results for announcement to the market US$ Revenues from ordinary activities up 251.9% to 3,796,140 Loss from ordinary activities after tax attributable to the owners of Enlitic, Inc. down 12.2% to (13,373,824) Loss for the year attributable to the owners of Enlitic, Inc. down 12.2% to (13,373,824) Dividends There were no dividends paid, recommended or declared during the current financial period. Comments The loss for the Group after providing for income tax amounted to US$13,373,824 (31 December 2024: US$15,237,895). Refer to ‘Review of operations’ in the attached Annual Report for details of the operations for the year. 3. Net tangible assets 2025 Cents 2024 Cents Net tangible assets per ordinary security (0.09) 0.98 Group 2025 US$ 2024 US$ Net assets 4,076,809 11,028,200 Less: Right-of-use assets (86,581) (109,167) Less: Intangibles (4,742,620) (5,313,366) Add: Lease liabilities 5,134 112,378 Net tangible assets (747,258) 5,718,045 Total shares issued (number) 833,174,615 583,167,692 4. Control gained over entities Not applicable. 5. Loss of control over entities Not applicable. i Enlitic, Inc. Appendix 4E 2025 Enlitic, Inc. Appendix 4E (continued) 6. Dividends Current period There were no dividends paid, recommended or declared during the current financial period. Previous period There were no dividends paid, recommended or declared during the previous financial period. 7. Dividend reinvestment plans Not applicable. 8. Details of associates and joint venture entities Not applicable. 9. Foreign entities Details of origin of accounting standards used in compiling the report: Not applicable. 10. Audit qualification or review Details of audit/review dispute or qualification (if any): The financial statements have been audited and an unmodified opinion has been issued. 11. Attachments Details of attachments (if any): The Annual Report of Enlitic, Inc. for the year ended 31 December 2025 is attached. 12. Signed Darren Scotti Chief Financial Officer and Company Secretary Date: 27 February 2026 ii Enlitic, Inc. Appendix 4E 2025 Annual Report 2025 Clear strategy. Platform built. Execution in motion. Who Are Enlitic? Enlitic is building the data foundation for next-generation medical imaging. Our mission at Enlitic is to revolutionise healthcare by leveraging AI and data, empowering evidence-based decision-making, enhancing research, and transforming healthcare delivery. We are at the forefront of the AI-enabled healthcare evolution, transforming how medical imaging data is migrated, structured and governed, enabling healthcare providers and industry partners to unlock value from imaging archives that have historically been difficult to use beyond their original diagnostic purpose. For decades, medical imaging data has been manipulated to support individual clinical workflows, with limited consideration for reuse, consistency or long-term value. As healthcare systems invest in new platforms, AI tools and cloud strategies, this legacy data has become a constraint rather than an asset. Enlitic addresses this challenge by applying AI at the most critical stages of the imaging data lifecycle. Our platform is designed to operate across vendors, systems and geographies, supporting operational needs today while establishing a scalable foundation for future innovation. By automating routine tasks, accelerating diagnostic workflows, and optimising operations, we provide significant enhancements in efficiency, automation, and productivity across the healthcare sector. Addressing a critical Healthcare Challenge 02 Chairman’s Report 03 CEO’s Report 04 Unified Enlitic Ecosystem 06 Solutions that Work 08 Innovation and Growth 09 Leadership & Governance 10 Key Management 11 Directors’ Report 13 Auditor’s Independence Declaration 34 Financial Statements 35 Directors’ Declaration 80 Contents Enlitic, Inc. Annual Report 2025 Healthcare’s digital transformation is not being held back by a lack of technology, but by the brittle condition and unreliable state of the data that technology is expected to operate on. High-quality data plays a crucial role in enabling accurate assessments and deriving essential insights. Across the industry, imaging archives remain fragmented, inconsistently labelled and operationally complex. This increases costs, limits productivity and reduces the return on investment from PACS upgrades, AI deployment and cloud migration. Enlitic’s software and migration systems provide the solution are designed to address this problem in a way that delivers immediate economic benefit, – reducing operational friction, lowering infrastructure complexity, and accelerating time to value – while also enabling establishing a durable, standardised data foundation that supports long-term strategic outcomes, including scalable AI deployment, advanced analytics, interoperability, and future system flexibility. We focus on improving the quality, structure and usability of imaging data at scale – creating a data foundation that supports clinical workflows, operational efficiency, analytics and AI adoption. Importantly, this approach does not require healthcare providers or vendors to abandon existing systems or standards. Instead, Enlitic creates value by working within current environments and making better data economically advantageous for all participants. As the healthcare landscape continues to evolve and become more integrated, providers will need to harness these advanced data and medical imaging technologies, enabling more automated, efficient and personalised care to be delivered. Our strategy is being executed. Enterprise migrations are underway, strategic OEM partnerships have been secured, and our platform is being deployed in production healthcare environments. Our business is moving from build to delivery. Why Enlitic? 01 Enlitic, Inc. Annual Report 2025 Healthcare systems generate vast volumes of medical imaging data, yet much of that data remains under-utilised and costly to manage. Traditional migration approaches prioritise system changeover but do little to improve data quality or usability. As a result, long-standing inconsistencies are often carried forward into new environments, limiting operational improvement and slowing innovation. Enlitic addresses this challenge by integrating AI-driven normalisation and governance directly into the migration process. This allows data to be corrected, completed and standardised at the point when it is most accessible, before it becomes embedded in new production systems. By improving data quality during migration, Enlitic helps healthcare organisations reduce complexity, improve system performance and realise tangible operational and financial returns, while also establishing a stronger foundation for future initiatives. Critical Healthcare Data Challenge Addressing a This challenge can be addressed by integrating AI-driven normalisation and governance directly into the migration process. 02 Enlitic, Inc. Annual Report 2025 Chairman’s Report Dear Shareholders, On behalf of the Board of Directors and Management of Enlitic, Inc., I am pleased to present the Annual Report for the financial year ended 31 December 2025. The past year has been one of important progress for Enlitic, set against a challenging market backdrop. Global equity markets, and small-cap technology stocks in particular, have remained volatile. During the year, the Company completed two capital raises and our share price declined further. These outcomes are disappointing, and the Board recognises the impact this has had on shareholders. At the same time, the Board remains focused on its primary responsibility: ensuring Enlitic is positioned to deliver sustainable, long-term value. Over the past year, the Company has continued to execute its strategy. Enlitic has completed the build-out of its core platform, progressed large-scale enterprise deployments, and secured strategic partnerships with major industry participants. These are not speculative initiatives – they are tangible steps that underpin future revenue, scalability and relevance within the healthcare ecosystem. Medical imaging data remains one of the most under-addressed challenges in healthcare. While the industry continues to invest heavily in AI, cloud infrastructure and advanced analytics, the quality and usability of underlying imaging data has lagged. Enlitic’s focus on data migration, normalisation and governance directly address this gap, positioning the Company at a critical intersection of healthcare operations and future innovation. During the year the Company raised A$18 million in two separate raisings via a new CDI placement and an issue of convertible notes. We thank our investors for their ongoing support. The capital raised has provided the Company with funding to continue executing its strategy, while the Board remains acutely aware that further progress is required to strengthen the balance sheet over time. Capital discipline and alignment of expenditure with clearly defined strategic priorities remain a key focus. Looking ahead, the Board believes Enlitic is entering a new phase. The emphasis is shifting from platform development to execution and scale. Enterprise deployments are underway, partnerships are being operationalised, and the Company is increasingly focused on converting strategic positioning into recurring commercial outcomes. While challenges remain, the strategy is clear and unchanged. The Board is confident that management is executing with focus and discipline, and that the foundations being laid out today are essential to building a durable and valuable business over the long term. On behalf of the Board, I thank our shareholders for their continued support and interest in Enlitic, and our employees for their commitment and resilience during a demanding period. We will continue to execute our strategy and remain focused on the task ahead. Yours sincerely, Lawrence Gozlan Chairman Enlitic, Inc. 03 Enlitic, Inc. Annual Report 2025 Healthcare continues to invest heavily in AI, cloud infrastructure and advanced analytics. However, the return on these investments is increasingly constrained by the state of underlying data – particularly in medical imaging. Imaging archives remain fragmented, inconsistently labelled and operationally burdensome. This complexity slows clinical workflows, impedes system interoperability, and limits the practical adoption of new technologies. Enlitic addresses this challenge at its foundation. Our strategy is straightforward: improve the quality, structure and governance of medical data as it moves through the healthcare system. By embedding AI-driven normalisation into the migration and consolidation process, we enable healthcare organisations to realise immediate operational benefits while simultaneously establishing a scalable data foundation for future innovation. During the year, we moved this strategy from theory to execution. We progressed enterprise scale migrations across complex, multi-site environments and deployed our platform alongside existing clinical systems and vendor infrastructure. This is a critical distinction – our approach works within real-world constraints rather than requiring wholesale system change. Importantly, our deployments do more than relocate data – We improve it. Structured, standardised, and governed imaging data reduce system complexity, allows automation to improve workflow efficiency, and accelerates time to value for both operational and analytical use cases. We also made meaningful progress in building a broader ecosystem around our platform. Strategic OEM partnerships advanced during the year, aligning Enlitic’s capabilities with the systems healthcare providers already depend on. We believe durable standards emerge through adoption and economic alignment, not mandate, and our partnership strategy reflects this principle. From an organisational perspective, 2025 required discipline. We invested in product readiness, regulatory capability, and commercial execution while navigating a challenging capital markets environment. Capital raised during the year was deployed carefully, with a clear focus on near-term delivery milestones and long-term value creation. CEO’s Report Dear Shareholders, 2025 was a year of execution and transition for Enlitic. Over the past twelve months, we moved from building our platform towards deploying it at enterprise scale. Core product development was completed, complex enterprise-scale migrations advanced strategic OEM partnerships progressed. These activities reflect a deliberate shift in focus – from demonstrating capability to delivering operational outcomes in healthcare environments. 04 Enlitic, Inc. Annual Report 2025 Looking ahead, our priorities are clear: scale deployments, convert strategic relationships into recurring revenue, and expand platform adoption across clinical operations, analytics and AI enablement. The foundations are now in place to drive disciplined expansion and repeatable execution. I am confident in the direction of the Company, the relevance of our strategy, and the capability of our team. Enlitic is solving a structural data problem in healthcare with a practical, economically aligned model – and we are doing so with increasing momentum. On behalf of the Board and management team, I would like to thank our employees for their dedication, resilience and hardwork, our partners for their collaboration, and our shareholders for their continued support as we execute the next phase of the Enlitic’s growth. Yours sincerely, Michael Sistenich Chief Executive Officer Enlitic, Inc. 05 Enlitic, Inc. Annual Report 2025 Unified Enlitic Ecosystem Enlitic delivers a unified ecosystem that connects data migration, standardisation and operational use. Our platform brings these together into a coordinated data pipeline that supports both near-term outcomes and long-term strategy, rather than treating these as separate initiatives. The Enlitic ecosystem includes AI-enabled migration of large imaging archives, automated standardisation to improve consistency and usability, a governed data layer supporting search, cohort creation and analytics, and privacy-preserving capabilities that enable compliant secondary use. Our ecosystem is designed to work alongside existing clinical systems, vendor platforms and enterprise environments. Adoption is driven by practical benefit – reduced operational friction, improved data usability and faster time to value – rather than by imposed standards or mandated change. 06 Enlitic, Inc. Annual Report 2025 Creating a Foundational Data Asset for Customers Elevating the value of your data with Ensight ENABLE: Value Transformation Structured and Linked Data For Analytics De-Identified and AI-Ready Data Cleansed and Normalised Data Raw Messy Data Monetisable Institutional Data Asset Ready for integration with EHR, Pathology, Genomics Ready for QA, research and Data exchange Harmonized Metadata and Standardized Ontologies Unstructured DICOM Data Little Value outside of Local Viewing • FAIR data principles Data Export to Enterprise Intelligence and Analytics • • Cohort Identification • Bulk De-identification • Ops Dashboard Utilization and Quality insights • Training and Validation of AI Algos • Imaging derived Biomarkers (Radiomics) • Longitudinal and Multi-omic analysis • Search and View Structured Data Elements • Informs Cloud Strategy and Architecture • Data supports LLM RAG 07 Enlitic, Inc. Annual Report 2025 Solutions that Work Enlitic’s solutions are being deployed in real-world healthcare environments to support complex, large-scale imaging data transitions. Across enterprise migration programs, the platform is being used to manage high study volumes, support multi-site environments and improve data quality as part of the migration process. This approach enables healthcare organisations to achieve operational continuity while realising immediate improvements in data usability and workflow efficiency. By focusing on both data movement and data improvement, Enlitic helps customers extract greater value from existing archives, supports more effective system utilisation and lays the groundwork for future innovation. During 2025 we announced an expansion of the relationship with GE Healthcare. In addition, we consummated our initial relationships with Philips, Fuji and Infinitt as we continue to execute on our OEM strategy. These deployments provide practical validation of the platform and support broader commercial expansion. By focusing on both data movement and data improvement, Enlitic helps customers extract greater value from existing archives. 08 Enlitic, Inc. Annual Report 2025 Innovation and Growth Enlitic is entering a phase of measured and disciplined growth. With core platform capabilities established, the focus is now on scaling deployments, expanding strategic partnerships and broadening use cases across clinical operations, analytics and AI enablement. As healthcare organisations increasingly prioritise economic return alongside technological capability, Enlitic’s approach of delivering immediate operational benefits while establishing a scalable data foundation, positions the Company to address the growing and recurring needs of our customers. The product is built. Execution is underway. Our strategy is clear. 09 Enlitic, Inc. Annual Report 2025 Lawrence B. Gozlan Non‑executive Chairman Lawrence, a leading biotechnology investor and advisor, is the Life Sciences Investment Manager at Jagen Pty Ltd, an international private investment organisation. Lawrence is also the Chief Investment Officer and Founder of Scientia Capital, a specialised global investment fund focused exclusively on life sciences. He currently serves as a director on several private and public company boards in Australia and the United States and holds a B.S. with Honors from the University of Melbourne. Michael Sistenich Chief Executive Officer and Executive Director Michael Sistenich is a Partner and Founder of Aurenda Partners and has over 24 years of experience in the investment banking, corporate finance, and asset management industry. Michael was the founder and lead portfolio manager of the €6.5bn DWS Investments healthcare franchise and was also the founder of the first European healthcare hedge fund at Meditor Capital Management running more than €500mn. He has served as a board member of nonprofits, as well as private and public companies in the United States and Australia and holds a Master of Science with Honors in Biochemistry from the University of Oxford. Sergio Duchini Non‑executive Director Sergio has over 30 years of professional services experience including 23 years as a Deloitte Australia Tax Partner and 8 years as a Deloitte Australia Board member. At Deloitte he held multiple senior positions, including Australian Tax Practice Chief Strategy Officer, Australian Tax Practice Chief Operating Officer, and Global Innovation and Investment Business Leader. Sergio’s non‑executive experience includes Risk & Audit Committee Chair, Chair of Remuneration Committee, Board Chair with a decade of board level experience with expertise in the Life Science and Biotech, Professional Services and Not for Profit sector. He has Bachelor of Commerce from the University of Melbourne, is a Chartered Accountant, a Fellow of the Tax Institute of Australia and a AICD graduate. Lisa Pettigrew Non‑executive Director Lisa Pettigrew is a highly experienced non‑executive director with more than 15 years of board and executive experience spanning Australian and US companies. Lisa is Founder and Managing Partner at CRO Syndicate. Her previous Board roles included NeuRA and MS Australia Ltd and executive roles included Global Chief Sales Officer for Avanade and Cognizant, and General Manager roles leading Healthcare at DXC Technology and Accenture. Ms. Pettigrew is also a founder of senior executive nonprofit female networking forums – MS Angels in Australia and Australian Women in DC (AWDC) in US. Lisa resides in Washington DC. Leadership & Governance 10 Enlitic, Inc. Annual Report 2025 Michael Sistenich Chief Executive Officer and Executive Director See Leadership and Governance Section for details. Darren Scotti Chief Financial Officer and Company Secretary Darren is a seasoned CFO and board member with over two decades of experience managing capital, financial modelling and mergers and acquisitions. Darren is responsible for leading the financial and strategic activities of the business across Performance Reporting, Taxation, Financial Control, Treasury, M&A and Regulatory Reporting. He is an experienced financial and corporate executive with a strong understanding of all aspects of accounting, finance, and corporate governance. He has experience across a broad range of industries but in recent times has focused on technology startup companies. Dan Kozimor Chief Technology Officer Dan has spent his entire career focusing on the human aspects of software engineering, using his extensive experience developing radiology information technology to evolve the process of reading medical images. As CTO at Enlitic, Dan leads the engineering and data science teams to develop the next generation of medical imaging software and find new ways to transform the future of healthcare. In fact, Dan specialises in scaling tech companies and enabling exceptional engineers to reimagine what healthcare can become. Steve Rankin Chief Strategy Officer Steve possesses a wealth of experience, dedicating more than half of his professional journey to steering strategic growth within the healthcare sector. Fueled by his entrepreneurial drive, Steve pioneered the establishment and leadership of Client Outlook and eUnity, successfully elevating its value to the extent of its acquisition by Mach7. At Enlitic, he applies this proven approach, channeling his efforts towards the development and execution of Enlitic’s product and market strategy. Steve is committed to propelling sustained growth for Enlitic in the years ahead. Key Management 11 Enlitic, Inc. Annual Report 2025 Enlitic, Inc. Consolidated Financial Statements As at 31 December 2024 Contents Directors’ Report 13 Auditor’s Independence Declaration 34 Consolidated Statement of Profit or Loss and Other Comprehensive Income 35 Consolidated Statement of Financial Position 36 Consolidated Statement of Changes in Equity 37 Consolidated Statement of Cash Flows 38 Notes to the Consolidated Financial Statements 39 Corporate Entity Disclosure Statement 79 Directors’ Declaration 80 Independent Auditor’s Report 81 Securityholder Information 87 Corporate Directory 90 Enlitic, Inc. Annual Report 2025 12 Directors’ Report 31 December 2025 The Directors present their report, together with the financial statements, on the consolidated entity (referred to hereafter as the ‘Group’) consisting of Enlitic, Inc. (referred to hereafter as the ‘Company’ or ‘parent entity’) and the entities it controlled at the end of, or during, the year ended 31 December 2025. Directors The following persons were Directors of Enlitic, Inc. during the whole of the financial year and up to the date of this report, unless otherwise stated: Lawrence Gozlan – Chair Michael Sistenich Sergio Duchini Lisa Pettigrew Principal activities The Group’s principal activity is to intelligently manage healthcare data using the power of artificial intelligence to expand capacity and improve clinical workflows and create a foundation for a real-world evidence medical image database for healthcare providers. Dividends There were no dividends paid, recommended or declared during the current or previous financial year. Review of operations Enlitic is developing and commercialising software and services that manage and standardise medical imaging data in radiology, including MRI, CT, X-ray and ultrasound imaging. The Group’s mission is to improve healthcare delivery by enabling scalable, interoperable imaging data that supports clinical workflows, operational efficiency and real-world evidence generation. Enlitic operates within the global healthcare IT market, with a particular focus on imaging data migration, routing and standardisation. The 2025 financial year represented the first full year of operations following the acquisition of Laitek, Inc. in October 2024. Laitek is a leading United States-based provider of technology-enabled medical imaging data migration and routing services. The acquisition materially expanded the Group’s commercial offering and revenue base. For the year ended 31 December 2025, the Group recorded revenue of US$3.8 million, compared to US$1.1 million in the prior year. The increase primarily reflects a full twelve-month contribution from Laitek, compared to a partial period of ownership in 2024, together with continued execution across both subscription-based software contracts and project-based migration services. The Group reported a loss after income tax of US$13.4 million for the year (2024: US$15.2 million). While the Group continues to invest in product development and commercial execution, the reduction in loss year-on-year reflects revenue growth and ongoing cost discipline following the completion of major one-off corporate activities in the prior period. Operating expenses for the year totalled approximately US$17.1 million, compared to approximately US$17.0 million in 2024. Notwithstanding the inclusion of a full year of Laitek operations in 2025, operating costs remained broadly consistent year-on-year, reflecting disciplined cost management and integration efficiencies. The prior year included one-off costs associated with corporate and acquisition activity, which did not recur at the same level in 2025. In May 2025, the Group entered into a binding Memorandum of Understanding with GE HealthCare, pursuant to which Laitek is expected to provide migration services over a multi-year period. This agreement represents a strategically important validation of the Group’s expanded service offering and operational capabilities. 13 Enlitic, Inc. Annual Report 2025 Directors’ Report (continued) The Group no longer reports an aggregated sales pipeline metric. Instead, Enlitic reports total contract value signed each quarter through its quarterly ASX reporting. This approach reflects the increased maturity of the business following the Laitek acquisition and provides a clearer measure of commercial execution. As Laitek was only owned for part of the 2024 financial year, no meaningful comparative information is presented on a year-on-year basis. Going concern Refer to note 2 in relation to the Directors’ assessment of going concern. Significant changes in the state of affairs At an Extraordinary General Meeting held on 14 January 2025, the shareholders approved the issuance of options to the Board of Directors as follows: Number Issued Michael Sistenich 23,000,000 Lawrence Gozlan 6,800,000 Lisa Pettigrew 2,800,000 Sergio Duchini 2,800,000 35,400,000 On 16 January 2025, the Company awarded 35,968,000 options to employees. The total options issued on 16 January 2025 was 71,368,000. GE Healthcare In May 2025 the Company signed a binding Memorandum of Understanding1 (‘MOU’) with GE Healthcare. Under this MOU, Enlitic’s wholly owned subsidiary, Laitek, agreed to work in good faith to deliver between US$3-6m per year of annual migration capacity to GE HealthCare for the next 5 years. GE HealthCare paid US$2 million for Laitek’s migration services in early July 2025, thereby fulfilling all required actions under the MOU and allowing both parties to move forward with their collaboration. Capital raising In May 2025, the Company requested a trading halt for the purposes of undertaking a proposed equity raising. In mid-June 2025, Enlitic successfully completed a capital raising of A$10 million by way of a two-tranche placement via the issue of new CDIs. Convertible note raising On 24 December 2025, the Company announced that it had secured commitments for a capital raise of A$8.0 million through the issue of secured convertible notes to a group of sophisticated investors (the ‘Convertible Notes’), with approximately A$2.6 million received in an initial tranche and the balance subject to shareholder approval. 1. The MOU, while binding, is not a complete expression of the necessary terms between the parties, but rather, establishes the basis for developing a definitive agreement or agreements and/or amending existing agreements between the parties to establish such a complete expression of necessary terms. The MOU does, however, oblige GE HealthCare to provide advance payment of US$2 million upon confirmation by Enlitic that it has secured A$10 million in funding from external sources. As announced to ASX on 4 July 2025, confirmation of such funding was provided by Enlitic in June 2025 and Enlitic received the US$2 million advance payment from GE HealthCare in July 2025. 14 Enlitic, Inc. Annual Report 2025 Directors’ Report (continued) The Convertible Notes were issued in two tranches: • Tranche 1 Convertible Notes, with commitments of approximately A$2.6 million, were issued in December 2025 following satisfaction of customary conditions precedent; and • Tranche 2 Convertible Notes, representing the balance of approximately A$5.4 million (providing A$8.0 million in aggregate), were approved by shareholders at an Extraordinary General Meeting held on 4 February 2026 and issued thereafter. The Convertible Notes have a maturity date of 30 September 2026 and are secured by a first priority security interest over all of the Company’s present and future right, ti