Mr. Adrian Mendes reports

PERIMETER MEDICAL IMAGING AI SHORTLISTED TO ADVANCE TO NEXT STAGE OF GRANT FUNDING PROGRAM SPONSORED BY THE ADVANCED RESEARCH PROJECTS AGENCY FOR HEALTH (ARPA-H) UNDER BIDEN CANCER MOONSHOT INITIATIVE

Perimeter Medical Imaging AI Inc. has been short-listed in a grant funding process sponsored by the Advanced Research Projects Agency for Health (ARPA-H) under its Precision Surgical Interventions (PSI) Program. Perimeter attended the ARPA-H Proposer's Day on September 7, 2023 and subsequently submitted an abstract, which has been selected to advance to the next stage of the grant funding process with an invitation to submit a full proposal by November 16, 2023.

Adrian Mendes, Perimeter's Chief Executive Officer stated, "We are excited to participate in this important Biden Cancer Moonshot initiative and thrilled that the federal Advanced Research Projects Agency for Health has selected Dallas as one of three regional hubs in its $2.5 billion health innovation network. We look forward to submitting a full proposal to the ARPA-H PSI grant funding program, as its goals align precisely with the mission of Perimeter and further validate the significant healthcare problem that our team is committed to solving: ensuring that no patient needs to return for a repeat surgery due to cancer left behind. I believe Perimeter is a true pioneer in this space, with our advanced imaging technology delivering the clearest 2mm subsurface imagery currently available to surgeons in the OR, with 10x the image resolution of standard X-ray and ultrasound and 100x greater than MRI."

ARPA-H's new PSI program aims to deliver groundbreaking new tools to enable surgeons to successfully remove cancer for patients through a single operation by better identifying and differentiating between healthy and cancer tissue. Technologies developed through this program will also help surgeons spot and avoid important structures such as nerves, blood vessels, and lymph nodes, which can be mistakenly damaged during invasive surgical procedures. In alignment with the Biden Cancer Moonshot and to advance equity, the PSI program is designed to ensure emerging technologies that are accessible in rural and urban areas, improving health outcomes for all Americans facing cancer. ARPA-H anticipates multiple awards and award types will result from program. More information about ARPA-H can be found at: https://arpa-h.gov

About Perimeter Medical Imaging AI, Inc.

Based in Toronto, Canada and Dallas, Texas, Perimeter Medical Imaging AI (TSX-V: PINK) (OTC: PYNKF) (FSE: 4PC) is a medical technology company driven to transform cancer surgery with ultra-high-resolution, real-time, advanced imaging tools to address areas of high unmet medical need. Available across the U.S., our FDA-cleared Perimeter S-Series OCT system provides real-time, cross-sectional visualization of excised tissues at the cellular level. The breakthrough-device-designated investigational Perimeter B-Series OCT with ImgAssist AI represents our next-generation artificial intelligence technology that is currently being evaluated in a pivotal clinical trial, with support from a grant of up to US$7.4 million awarded by the Cancer Prevention and Research Institute of Texas. The company's ticker symbol "PINK" is a reference to the pink ribbons used during Breast Cancer Awareness Month.

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