Mr. Adrian Mendes reports

PERIMETER MEDICAL IMAGING AI PROVIDES CORPORATE UPDATE ON GRANT FUNDING OPPORTUNITIES AND ANNOUNCES CONFERENCE CALL/WEBCAST TO DISCUSS FOURTH QUARTER AND YEAR-END 2023 FINANCIAL RESULTS

Perimeter Medical Imaging AI Inc. has provided details on coming events and a corporate update on grant funding opportunities to support its next-generation artificial intelligence technology development.

Adrian Mendes, Perimeter's chief executive officer, stated: "As we continue to ramp the number of surgeons using our technology, we are excited to showcase our flagship Perimeter S-Series OCT technology at an international conference hosted by the Society of Surgical Oncology. This is an important opportunity to connect with key customers and educate the broader surgical community about the benefits of using Perimeter's innovative technology to assist with visualizing margins real-time in their ORs."

Society of Surgical Oncology (SSO) International Conference on Surgical Cancer Care -- No. SSO2024:

• Dates: March 20 to 23, 2024;
• Location: Georgia World Congress Center, Atlanta, Ga.

Mr. Mendes continued: "Turning to the product development side of the business, although we were shortlisted to the final stages, we did not receive funding from this tranche of the federal PSI grant program sponsored by the Advanced Research Projects Agency for Health (ARPA-H). Although disappointing, it's important to note that these funds were proposed for future tissue-type investigations and related product development. All of our current clinical and product development plans remain on track and within our current financial modelling, including a planned interim readout from our ongoing clinical trial evaluating the use of proprietary AI combined with our OCT technology during breast conservation surgery. We continue to explore other relevant grant funding opportunities and were pleased to receive a term extension of our existing CPRIT grant, ensuring continued access to this funding beyond the interim readout clinical milestone. We look forward to providing a more detailed corporate update when we announce our year-end 2023 results next week."

Perimeter's fourth quarter/year-end 2023 results -- conference call/webcast information

Date: Thursday, March 28, 2024

Time: 4:30 p.m. Eastern Time

Audio webcast: register on-line (listen-only)

Dial-in: 1-888-886-7786 or 1-416-764-8658

Conference ID: 62216896

The conference call will also be broadcast live on-line through a listen-only webcast, which will be posted on the investors section of the company's website. The webcast will be archived on the company's investor relations webpage for at least 90 days. A telephonic playback of the conference call will be available for 14 days after the conference call by calling 1-844-512-2921 or 1-412-317-6671 and referencing conference ID 62216896. The above listed dates and times are subject to change.

About Perimeter Medical Imaging AI Inc.

Based in Toronto, Canada, and Dallas, Tex., Perimeter Medical Imaging AI is a medical technology company driven to transform cancer surgery with ultrahigh-resolution, real-time, advanced imaging tools to address areas of high unmet medical need. Available across the United States, the company's Food and Drug Administration-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 the company's next-generation artificial intelligence technology that is currently being evaluated in a pivotal clinical trial, with support from a grant of up to $7.4-million (U.S.) awarded by the Cancer Prevention and Research Institute of Texas (CPRIT). The company's ticker symbol PINK is a reference to the pink ribbons used during Breast Cancer Awareness Month.

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