Investor Presentation - Capital Raising and CN Conversion
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Enlitic, Inc. | Strictly Confidential | Figures in USD millions unless stated.
ENLITIC
ASX: ENL | JULY 2026
INVESTOR PRESENTATION
Capital Raising and Convertible Note
Conversion
1
Enlitic, Inc. | Strictly Confidential | Figures in USD millions unless stated.
Important Notice and Disclaimer
2
This following notice and disclaimer applies to this presentation and the information contained in it. You are advised to read this carefully
before reading or making any other use of this presentation or any information contained in this presentation. By attending a presentation
or briefing, or accepting, accessing or reviewing this presentation, you acknowledge and agree to the terms set out in this important notice
and disclaimer, including any modifications to them.
This presentation is dated 3 July 2026 and has been prepared by Enlitic, Inc. (ARBN 672 254 027) (ASX: ENL, “Enlitic” or the “Company”) in
relation to (i) a placement of new CHESS depositary interests (“CDIs”) representing shares of common stock in Enlitic (“New CDIs”) to
certain eligible institutional, sophisticated or professional investors (“Conditional Placement”), and (ii) an offer of New CDIs to eligible CDI
holders under a security purchase plan (“SPP”, together with the Conditional Placement, the “Offer”). The Conditional Placement (including,
for the avoidance of doubt, participation by any Directors) and the SPP are each conditional on the approval of the Company's shareholders
(among other things). As a company incorporated in Delaware, shareholder approval will also be required to amend the Company’s
Certificate of Incorporation to increase the total number of authorised shares available for issuance. Further details in respect of the
proposed SPP will be provided in due course. The Offer is not underwritten.
Barrenjoey Markets Pty Limited (ABN 66 636 976 059) is acting as lead manager and bookrunner in respect of the Conditional Placement
(“Bookrunner and Lead Manager”). The Bookrunner and Lead Manager has not authorised, approved or been involved in the preparation,
issue, lodgement or distribution of this presentation and no statement in this presentation is based on any statement made by the
Bookrunner and Lead Manager.
Eligibility of investors for the purposes of the Offer is determined by reference to a number of matters, including legal requirements and the
discretion of the Company and/or the Bookrunner and Lead Manager. Enlitic and the Bookrunner and Lead Manager disclaim any and all
liability in respect of the exercise or otherwise of that discretion, to the maximum extent permitted by law. You acknowledge and agree that
you will rely on your independent assessment of any information, statements or representations contained in this presentation and such
reliance will be entirely at your own risk.
Summary information
This presentation contains only summary information about the Company and its subsidiaries (“Group”) and their activities which is current
as at the date of this presentation unless otherwise stated and the information in this presentation remains subject to change without
notice. The information in this presentation is of a general background nature and does not purport to be complete, nor does it include all
information that a prospective investor may require in connection with any potential investment in the Company, nor does it contain all of
the information which would be required to be disclosed in a prospectus, product disclosure statement or other offer document under
Australian law or under any other law. This presentation has not been filed, registered or approved by regulatory authorities in any
jurisdiction.
The Company reserves the right to update, amend or supplement the information in this presentation at any time in its absolute discretion
(without incurring any obligation to do so). Any further information will be provided subject to the terms and conditions in this notice and
disclaimer. This presentation should be read in conjunction with the Company’s other periodic and continuous disclosure announcements
lodged with the Australian Securities Exchange (“ASX”), which are available at www.asx.com.au.
Reliance should not be placed on information or opinions contained in this presentation and, subject only to any legal obligation to do so,
Enlitic does not have any obligation to correct or update the content of this presentation. In considering an investment in Enlitic, investors
should have regard to (amongst other things) the ‘Key Risks’ section of this presentation when making their investment decision.
Not a prospectus or an offer
This presentation is not and should not be considered an offer, invitation, solicitation or recommendation in relation to the subscription,
purchase or sale of New CDIs or any other securities or financial products in the Company in any jurisdiction and does not and will not form
any part of any contract for the acquisition of Enlitic securities. This presentation is for informational purposes only and is not a prospectus,
product disclosure statement or other disclosure document under Australian law or the law of any other jurisdiction. Accordingly, it does
not contain all the information required to be included in an offer document prepared in accordance with the requirement of the
Corporations Act 2001 (Cth) (“Corporations Act”) and has not been lodged with the Australian Securities and Investments Commission
(“ASIC”) or any other financial services or securities regulator.
This presentation is not financial product or investment advice, a recommendation to acquire New CDIs, nor is it accounting, legal or tax advice and does
not and is not intended to be used as the basis for making an investment decision. Any investor that intends to deal in any existing or prospective
securities of the Company is required to make its own independent investigation and appraisal of the business and financial condition of the Group and
the nature of the securities at the time of such dealing. No one has been authorised to give any information or to make any representations other than
those contained in this presentation, and if given or made, such information or representations must not be relied upon as having been authorised by
the Company, the Bookrunner and Lead Manager or their respective affiliates.
This presentation has been prepared without taking into account the objectives, financial or tax situation or needs of any person. Any references to, or
explanations of, legislation, regulatory issues or any other legal commentary (if any) are indicative only, do not summarise all relevant issues and are not
intended to be a full explanation of a particular matter. You should not rely on this presentation, and in all cases, you should conduct your own
investigations and analysis of the financial condition, assets and liabilities, financial position and performance, profits and losses, prospects and business
affairs of the Company and the contents of this presentation and seek legal, financial, tax and other professional advice. Enlitic is not licensed to provide
financial product advice in respect of an investment in securities. Cooling off rights do not apply to the acquisition of New CDIs. This presentation is
intended as an outline only of the proposed Offer and does not purport to list or summarise all of the final terms and conditions of the proposed Offer,
nor to identify or define all or any of the risks that would be associated with an investment in the Company.
Disclaimer
No representation, warranty or undertaking (whether express or implied) is made as to, and no reliance should be placed upon, the currency, accuracy,
reliability, completeness or fairness of the information, opinions and conclusions contained in this presentation or as to the reasonableness of any
assumptions contained herein or in any other information made available (whether in writing or orally) to the recipient. None of the Company, the
Bookrunner and Lead Manager, their respective related bodies corporate, securityholders or affiliates, or any of their respective officers, directors,
affiliates, partners, representatives, consultants, advisers, agents or employees (each a “Limited Party”) guarantees or makes any representations or
warranties (whether express or implied) as to, or takes responsibility for, the currency, accuracy, reliability, completeness or fairness of this presentation
or the information, assumptions, opinions and conclusions contained in this presentation. No Limited Party represents or warrants that this presentation
is complete or that it contains all material information about the Company or that a prospective investor or purchaser may require in evaluating a
possible investment in Enlitic or an acquisition of securities in Enlitic. To the maximum extent permitted by law, each Limited Party expressly disclaims
any and all liability (whether direct, indirect, consequential or contingent), including, without limitation, any liability arising out of fault or negligence on
the part of any person, for any expenses, damages, costs or loss arising from the use of information contained in this presentation or in relation to the
accuracy or completeness of the information, statements, opinions or matters, express or implied, contained in, arising out of or derived from, or for
omissions from, this presentation, including, without limitation, any financial information, any estimates or projections and any other financial
information derived therefrom. Recipients agree, to the maximum extent permitted by law, that they will not seek to sue or hold the Company or any of
the other Limited Parties liable in any respect in connection with this presentation or the Offer.
None of the Company or any of the other Limited Parties act, or are responsible, as a fiduciary to you, your directors, officers, employees, affiliates,
partners, representatives, consultants, agents, advisers, securityholders, creditors or any other person. You and each of the Company and the other
Limited Parties expressly disclaim any fiduciary relationship. The Company and the other Limited Parties are relying on you complying with this important
notice and disclaimer and on the truth and accuracy of the representations, warranties, undertakings and acknowledgments given by you.
To the maximum extent permitted by law, neither the Bookrunner and Lead Manager nor any of its affiliates, related bodies corporate, directors, officers,
employees, agents or advisers owes any duty of care to any security holder of the Company or any other person in connection with the Offer or this
presentation.
Enlitic, Inc. | Strictly Confidential | Figures in USD millions unless stated.
Important Notice and Disclaimer
3
Disclaimer cont’d
The Bookrunner and Lead Manager and its affiliates and related bodies corporate are full service financial institutions engaged in various
activities, which may include trading, financing, corporate advisory, financial advisory, investment management, investment research,
principal investment, hedging, market making, brokerage and other financial and non-financial activities and services. The Bookrunner and
Lead Manager and its affiliates and related bodies corporate have provided, and may in the future provide, financial advisory, financing
services and other services to Enlitic and to persons and entities with relationships with Enlitic, for which they received or will receive
customary fees and reimbursement of expenses. The Bookrunner and Lead Manager and its affiliates and related bodies corporatemay
purchase, sell or hold a broad array of investments (including holding security interests over these investments) and actively trade
securities, derivatives, loans, commodities, currencies, credit default swaps and other financial instruments, or otherwise originate, hedge,
enforce or effect transactions, for their own account and for the accounts of their customers, and such investment and trading activities
may involve or relate to assets, securities and/or instruments of Enlitic, and/or persons and entities with relationships with Enlitic. The
Bookrunner and Lead Manager and its affiliates and related bodies corporate may also communicate independent investment
recommendations, market colour or trading ideas and/or publish or express independent research views in respect of such assets, securities
or instruments and may at any time hold, or recommend to clients that they should acquire, long and/or short positions in such assets,
securities and instruments.
In connection with the Offer, one or more investors may elect to acquire an economic interest in the New CDIs (“Economic Interest”),
instead of subscribing for or acquiring the legal or beneficial interest in those securities. The Bookrunner and Lead Manager or its affiliates
and related bodies corporate may, for their own respective accounts, write derivative transactions with those investors relating to the New
CDIs to provide the Economic Interest, or otherwise acquire securities in Enlitic in connection with the writing of those derivative
transactions in the Offer and/or the secondary market. As a result of those transactions, the Bookrunner and Lead Manager or its affiliates
or related bodies corporate may be allocated, subscribe for or acquire New CDIs or securities of Enlitic in the Offer and/or the secondary
market, including to hedge those derivative transactions, as well as hold long or short positions in those securities. These transactions may,
together with other securities in Enlitic acquired by the Bookrunner and Lead Manager or its affiliates or related bodies corporate in
connection with its ordinary course sales and trading, principal investing and other activities, result in the Bookrunner and Lead Manager or
its respective affiliates or related bodies corporate disclosing a substantial holding and earning fees.
The Company, in consultation with the Bookrunner and Lead Manager, reserves the right to change the timetable in their absolute
discretion including by closing the Offer early, withdrawing the Offer entirely or extending the Offer closing time (generally or for particular
investor(s)) in their absolute discretion (but have no obligation to do so), without recourse to them or notice to you. Furthermore,
communications that a transaction is ‘covered’ (i.e. aggregate demand indications exceed the amount of the security offered) in connection
with the Offer bookbuild are not an assurance that the transaction will be fully distributed.
Financial data
Unless otherwise stated, financial information contained in this presentation is unaudited and is therefore subject to change. Recipients of
this presentation are cautioned therefore to not place any reliance on the financial (or other) information included in this presentation.
Historical results are not necessarily indicative of results that may be expected in the future and interim results are not necessarily
indicative of the results that may be expected for the full fiscal year. The summary unaudited financial and other data included in this
presentation are not intended to replace Enlitic’s consolidated financial statements and the related notes and are qualified in their entirety
by Enlitic’s consolidated financial statements and the related notes included elsewhere in Enlitic’s public filings with the ASX and ASIC.
All dollar values are in United States dollars ($ or US$ or USD) unless stated otherwise.
Effect of rounding
A number of figures, amounts, percentages, estimates, calculations of value and fractions in this presentation are subject to the effect of
rounding. Accordingly, the actual calculation of these figures may differ from the figures set out in this presentation.
Pro forma financial information
This presentation contains pro forma financial information reflecting the Conditional Placement and/or the Conversion of the Convertible
Notes. The pro forma financial information provided in this presentation is for illustrative purposes only and is not represented as being
indicative of the Company's (or anyone else's) views on the Company's future financial position and/or performance. The pro forma
financial information has been prepared by the Company in accordance with the measurement and recognition requirements, but not the
disclosure requirements, of applicable accounting standards and other mandatory requirements under the Australian Accounting Standards
(“AAS”).
Any pro forma financial information does not purport to be in compliance with Article 11 or Article 3-05 of Regulation S-X of the Rules of the U.S.
Securities and Exchange Commission and has not been prepared with a view towards compliance with the published guidelines of the U.S. Securities and
Exchange Commission or the American Institute of Certified Public Accountants for the preparation and presentation of pro forma financial information.
In addition, the pro forma financial information is presented in abbreviated form and does not include all of the presentation and disclosures of general
purpose financial statements prepared in accordance with applicable accounting standards and accounting interpretations.
Non-IFRS financial measures
This presentation may contain non-IFRS financial measures under ASIC Regulatory Guide 230: 'Disclosing non-IFRS financial information' published by
ASIC and also 'non-GAAP financial measures' within the meaning of Regulation G under the U.S. Securities Exchange Act, as amended, and are not
recognised under AAS or the International Financial Reporting Standards (“IFRS”). The non-IFRS/non-GAAP financial information (if any) has not been
subject to audit or review. Such non-IFRS financial information/non-GAAP financial measures do not have a standardised meaning prescribed by AAS or
IFRS. Therefore, the non-IFRS financial information is not a measure of financial performance, liquidity or value under the AAS or IFRS and may not be
comparable to similarly titled measures presented by other entities, and should not be construed as an alternative to other financial measures
determined in accordance with AAS or IFRS. The disclosure of such non-GAAP financial measures in the manner included in this presentation may not be
permissible in a registration statement under the US Securities Act. Although the Company believes this information provides useful information for
investors and form key performance indicators for the Company investors are cautioned not to place undue reliance on any non-IFRS financial
information/non-GAAP financial measures included in this presentation.
Future performance and forward-looking statements
This presentation may contain forward-looking statements about the Company, including reference to certain intentions, expectations, future plans,
strategy and prospects of the Company. Often, but not always, forward-looking statements can generally be identified by the use of forward-looking
words such as ‘may’, ‘will’, ‘expect’, ‘intend’, ‘plan’, ‘estimate’, ‘anticipate’, ‘continue’, and ‘guidance’, or other similar words and may include, without
limitation, statements regarding plans, strategies and objectives of management, product target and forecast financials, and the future operations of the
Company. Forward-looking statements inherently involve known and unknown risks, uncertainties and other factors that may cause actual results,
performance and achievements to be materially greater or less than estimated or implied (refer to ‘Key Risks’ section of this presentation, beginning on
slide 36).
Any such forward-looking statements may or may not be achieved and are not guarantees or predictions of future performance. They are based on
certain current assumptions, which may not be met or on which views may differ and may be affected by known and unknown risks. The performance
and operations of the Company may be influenced by a number of factors, many of which are outside the control of the Company. Investors should
consider the forward-looking statements contained in this presentation in light of those disclosures and not place reliance on such statements.
Any forward-looking statements are provided as a general guide only and should not be relied on as an indication or guarantee or predictions of future
performance. As such, no undue reliance should be placed on any forward-looking statement, particularly in light of the current economic climate and
certain geopolitical tensions (such as the Russia / Ukraine conflict, Israel / Palestine conflict and Iran / Israel / Lebanon / United States conflict). Past
performance is not necessarily a guide to future performance, and no representation or warranty is made by any person as to the likelihood of
achievement or reasonableness of any forward-looking statements or other forecast.
Nothing contained in this presentation, or any other information made available to you is, or shall be relied upon as, a promise, representation, warranty
or guarantee as to the past, present or the future performance of the Company. None of the Company or any other Limited Party makes any
representation or warranty as to the accuracy of any forward-looking statements contained in this Presentation. Forward-looking statements speak only
as at the date of this presentation, and the Limited Parties disclaim any obligations or undertakings to release any update of, or revisions to, any forward-
looking statements in this presentation (including to reflect any change in expectations or assumptions), except as required by law or regulation
(including the ASX Listing Rules).
Enlitic, Inc. | Strictly Confidential | Figures in USD millions unless stated.
Important Notice and Disclaimer
4
Foreign jurisdictions
This presentation does not constitute or form a part of any offer or solicitation to purchase, subscribe or sell securities in the United States
or any other jurisdiction in which such offer would be illegal or impermissible. The New CDIs, and the shares of common stock underlying
the New CDIs, have not been, and will not be, registered under the US Securities Act of 1933 (“US Securities Act”) or the securities laws of
any state or other jurisdiction of the United States. Accordingly, the New CDIs, and the shares of common stock underlying the New CDIs,
may not be offered or sold in the United States except in transactions exempt from, or not subject to, the registration requirements of the
US Securities Act and applicable US state securities laws. The release, publication or distribution of this presentation (including an electronic
copy) outside Australia is restricted by law and any such restrictions should be observed, including those set forth in the ‘International Offer
Restrictions’ section of this presentation. If you come into possession of this presentation, you should observe such restrictions. Any non-
compliance with these restrictions may contravene applicable securities laws. Refer to the ‘International Offer Restrictions’ section of this
presentation for more information.
Enlitic’s CDIs are traded on ASX in reliance on the safe harbour provisions of Regulation S under the US Securities Act of 1933 as amended,
and in accordance with the procedures established pursuant to the provisions of a no action letter dated 7 January 2000 given to ASX by the
staff at the US Securities and Exchange Commission. The relief was given subject to certain procedures and conditions described in the no
action letter. One of the conditions is that the issuer provides notification of the Regulation S status of its securities in communications such
as this presentation.
Third party information
Any market and industry data (including industry forecasts, projections, market sizes, market shares and market positions) included in this
presentation has been obtained from public filings, research, surveys or studies conducted by third parties, including industry and general
publications, which has not been independently verified by the Company, as well as from the Company's own internal estimates and
research. The Company cannot warrant or guarantee the adequacy, fairness, accuracy or completeness of such information. You should note
that market data and statistics are inherently predictive and subject to uncertainty and not necessarily reflective of actual market
conditions. There is no assurance that any of the industry or market forecasts, including management estimates, which are referred to in
this presentation will be achieved. In addition, such data involves a number of assumptions and limitations, and there can be no guarantee
as to the accuracy or reliability of such assumptions. In addition, while the Company believes its own estimates and research are reliable,
such estimates and research have not been verified by any independent source.
This presentation may contain trademarks and trade names of third parties, which are the property of their respective owners. Third party
trademarks and trade names used in this presentation belong to the relevant owners and use is not intended to represent sponsorship,
approval or association by or with the Company.
Key investment risks
There are a number of risks specific to the Offer, Enlitic and of a general nature which may affect the future operating and financial
performance of Enlitic and the value of an investment in Enlitic. An investment in New CDIs under the Offer is subject to known and
unknown risks, some of which are beyond the control of Enlitic. Enlitic does not guarantee any particular rate of return or the performance
of the Company. Investors should have regard to the risk factors outlined in the ‘Key Risks’ section of this presentation when making their
investment decision.
SPP
The offer booklet for the SPP (“SPP Booklet”) is expected to be available to eligible CDI holders following its lodgement with the ASX. Any
eligible CDI holder who wishes to participate in the SPP should consider the SPP Booklet in deciding whether to apply under that offer. Any
eligible shareholder who wishes to apply for New CDIs under the SPP will need to apply in accordance with the instructions contained in the
SPP Booklet and the SPP application form. This presentation does not constitute financial product advice and does not and will not form
part of any contract for the acquisition of New CDIs including under the SPP.
Enlitic, Inc. | Strictly Confidential | Figures in USD millions unless stated.
Overview of Enlitic: Trusted data foundation
for the AI era of medical imaging
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Enlitic creates the governed trust infrastructure for autonomous imaging operations
Recurring SaaS transition underway 8 global OEM channels Record contracted value
Enlitic, Inc. | Strictly Confidential | Figures in USD millions unless stated.
THE TEAM
Leadership & governance
BOARD OF DIRECTORS MANAGEMENT TEAM
Lawrence Gozlan
Non-Executive Chair
CIO and founder of Scientia Capital. Director on several private and public
company boards in Australia. Deep expertise in capital markets and corporate
governance.
Michael Sistenich
Director & Chief Executive Officer
Experienced healthcare executive and investor with expertise in
transformative innovation. Leads Enlitic's strategic direction and commercial
growth globally.
Sergio Duchini
Non-Executive Director
Strategy and M&A specialist. Extensive background in corporate governance,
strategy implementation, accounting & finance and corporate structuring.
Lisa Pettigrew
Non-Executive Director
Seasoned board director with deep expertise in healthcare technology and
digital transformation across Australian and international health IT markets.
Darren Scotti
Chief Financial Officer
Veteran CFO/COO and board member with 20+ years international
experience. Strong financial leadership and governance discipline across
technology and healthcare.
Dan Kozimor
Chief Technology Officer
Leads engineering and data science developing next-generation medical
imaging software. Focused on deep learning and AI to transform
healthcare.
Steve Rankin
Chief Strategy Officer
Experienced Founder and health IT strategic leader driving go-to-market
strategy across migration, SaaS and data licensing in the US, Europe and
Australia.
Eric Poblenz
VP Data Science
Specialist in deep learning and image recognition models. Background
spans NASA, USPS and military – solving complex problems with broad
technical skill.
6
Enlitic, Inc. | Strictly Confidential | Figures in USD millions unless stated.
THE OPPORTUNITY
AI is probabilistic and inconsistent. Healthcare operations are accountable.
This is a central tension in Healthcare AI
Healthcare is increasingly deploying AI, but AI systems can only be trusted when the underlying data is accurate, consistent and governed.
We believe that as AI becomes more powerful, the value of trusted data increases.
Hospitals, AI vendors and researchers all need the same thing:
A reliable, auditable foundation on which automation can safely operate.
Healthcare is adopting AI
The shift toward automation is
accelerating across imaging
operations.
Trust is becoming critical
Governance, auditability and
accountability are increasingly
required.
Data is the bottleneck
Most healthcare data remains
fragmented, inconsistent and difficult
to use.
Enlitic provides the governance and trust layer that bridges healthcare data and healthcare AI.1
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(1) Governance – The centralised policies and controls that ensure imaging data is standardized, de-identified, auditable and traceable to source. Trust – the degree to which imaging data is accurate, consistent, de-identified and
traceable to source, so it can be relied on and automated on without manual re-checking. "Trusted" data is data whose quality and provenance can be demonstrated, not assumed.
Enlitic, Inc. | Strictly Confidential | Figures in USD millions unless stated.
THE PROBLEM
Healthcare AI has a data problem.
Healthcare AI is constrained by data quality. It
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