Haven’t caught the meeting yet but I see Terri has picked up nearly 60k shares (although not on market - long term incentive plan).

Although I’d always like to see on market buys I don’t mind stock based incentives if they align management with shareholders…

Appendix 3Y Change of Director’s Interest Notice

Rule 3.19A.2

Appendix 3Y Change of Director’s Interest Notice

Information or documents not available now must be given to ASX as soon as available. Information and documents given to ASX become ASX’s property and may be made public.

Introduced 30/09/01 Amended 01/01/11

Name of entity Volpara Health Technologies Limited ABN 609 946 867

We (the entity) give ASX the following information under listing rule 3.19A.2 and as agent for the director for the purposes of section 205G of the Corporations Act.

Name of Director Teri Thomas Date of last notice 1 October 2022

Part 1 - Change of director’s relevant interests in securities

In the case of a trust, this includes interests in the trust made available by the responsible entity of the trust

Note: In the case of a company, interests which come within paragraph (i) of the definition of “notifiable interest of a director” should be disclosed in this part.

      Direct or indirect interest

Date of change

Direct

1 June 2023

 Nature of indirect interest

(including registered holder)

Note: Provide details of the circumstances giving rise to the relevant interest.

  N/A

  No. of securities held prior to change

  110,000 Ordinary Shares

225,841 Restricted Stock Units (FY23 grant under Volpara long term incentive plan) vesting (subject to ongoing employment) as follows:

• 1 June 2023 – 75,280

• 1 June 2024 – 75,280

• 1 June 2025 – 75,281

 Class

Number acquired Number disposed

+ See chapter 19 for defined terms. 01/01/2011 Appendix 3Y Page 1 3450-4190-1859, v. 1

Ordinary Shares

75,280 Ordinary Shares Nil

Appendix 3Y Change of Director’s Interest Notice

  Value/Consideration

Note: If consideration is non-cash, provide details and estimated valuation

  Nil consideration paid on exercise

(value - AUD$57,213 (based on VHT closing share price on 31 May 2023))

 No. of securities held after change

  185,580 – Ordinary Shares 150,561 RSUs

 Nature of change

Example: on-market trade, off-market trade, exercise of options, issue of securities under dividend reinvestment plan, participation in buy-back

Exercise of 75,280 RSUs issued as part of FY23 RSU grant under Volpara long term incentive plan.

 Part 2 – Change of director’s interests in contracts

Note: In the case of a company, interests which come within paragraph (ii) of the definition of “notifiable interest of a director” should be disclosed in this part.

Detail of contract N/A Nature of interest

Name of registered holder (if issued securities)

Date of change

Interest acquired

Interest disposed

Value/Consideration

Note: If consideration is non-cash, provide details and an estimated valuation

Interest after change Part 3 – +Closed period

Were the interests in the securities or contracts detailed No above traded during a +closed period where prior written clearance was required?

If so, was prior written clearance provided to allow the trade N/A to proceed during this period?

If prior written clearance was provided, on what date was this N/A provided?

+ See chapter 19 for defined terms. 01/01/2011 Appendix 3Y Page 2 3450-4190-1859, v. 1

     No. and class of securities to which

interest related prior to change

Note: Details are only required for a contract in relation to which the interest has changed

Bye bye bye.

lol

that said, great interview and agree with comments of others, feel this business is ready to flourish.

the risk aspect seems like a huge market and the breast arterial calcification aspect could be quite significant in risk prediction too!

fascinating medically:

they have a massive database of breast imaging if that can be turned to predicting cardiovascular disease imagine the utility of a mammogram which also risk stratifies for ischaemic heart disease!

ASX RELEASE

Microsoft and Volpara Health join forces to accelerate the research and development of software that uses mammograms to identify potential cardiovascular issues

Highlights:

• Heart disease is the leading cause of death of US women

• Breast arterial calcifications* have been shown to be associated with

cardiovascular disease outcomes1

• The collaboration’s intent is to expand breast cancer screening programs’ ability

to make cardiovascular assessments from routine mammograms

• Microsoft, based in Redmond, WA, USA, are leaders in the development of

personal computer software systems, applications, and cloud services

• Volpara Health, based in Wellington, NZ, are leaders in artificial intelligence for

breast cancer detection and risk assessment

Wellington, NZ, 21 June 2022: Volpara Health Technologies (“Volpara,” “the Group,” or “the Company”; ASX:VHT), a global health technology software leader providing an integrated platform for personalised breast care, today announced a new research and development collaboration with Microsoft to accelerate the creation of a product that detects and quantifies breast arterial calcifications (BACs).

Microsoft and Volpara share a commitment to improving women’s health through science and innovation. The product will build upon Volpara’s approach to quantitative and objective breast density scoring using artificial intelligence (AI). Capitalising upon Volpara’s recent BAC patent, the product will create a tissue composition map that identifies and quantifies BACs from a mammogram, helping radiologists identify the need to take steps toward prevention of heart disease. Machine learning and AI specialists from Microsoft will assist with improving Volpara’s BACs model and data processing, while Microsoft engineers will collaborate with the Volpara team on the product’s technical development and operationalisation.

This project is an expansion of the companies’ relationship over the last decade. Last year, Volpara’s innovative work in supporting healthcare providers was recognised with its SaaS (Software as a Service) Award win at the Microsoft New Zealand Partner Awards. Microsoft SaaS and cloud products have played a fundamental role in supporting Volpara’s development of the latest, FDA-cleared version of their core AI algorithm. To date, the algorithm has been used

to assess the breast composition of more than 14.5M women through Volpara’s analysis of over 60M mammography and tomosynthesis images. These images, representing one of the world’s largest de-identified image datasets, will prove a pivotal resource for the BACs project.

The BACs product, as a cardiac decision-support tool for radiologists, would mark Volpara’s entrance into a new area of care, part of a US$146.4B2 cardiovascular disease market. With access to over 35 percent of the US breast screening market, Volpara has the installation base to facilitate rollout and adoption of the product, creating a new revenue stream. For women, the BACs product would add a new dimension to their regular breast screenings, providing important information about their cardiovascular health. Any significant BACs findings could be delivered through the Volpara® Breast Health PlatformTM directly to the healthcare provider or through Volpara’s partner network.

Recently, Volpara announced Teri Thomas as the new Chief Executive Officer, with cofounder and former CEO Ralph Highnam, PhD, transitioning to Chief Science and Innovation Officer. As part of his new role, Highnam will spearhead the BAC initiative.

Of the joint project Highnam said: “The trusted relationship we have built with Microsoft over the years is important to Volpara’s future, especially our utilisation of the powerful Azure Cloud platform for machine learning and product development. Our mission and vision around the future of healthcare align well with Microsoft’s. Though we are in the early stages of BAC product development, this collaboration will accelerate our efforts as we advance science together.”

“With one in three deaths in New Zealand caused by cardiovascular disease, this new research and development collaboration means that, together, we can detect and identify earlier symptoms of heart disease in women,” said Microsoft New Zealand Partner Lead, Matt Bostwick. “Volpara’s innovation with AI is not only improving healthcare across the globe, but it has the potential to save millions of lives. This is true AI for Good.”

*Breast arterial calcifications are clusters and patterns of calcification that appear on the mammogram image and may indicate heart disease or high risk of disease.

1. https://www.ncbi.nlm.nih.gov/pmc/articles/PMC7386618/#:~:text=Conclusions,and%20inversely %20associated%20with%20smoking.

2.

https://www.ncbi.nlm.nih.gov/pmc/articles/PMC5370385/#:~:text=The%20cardiovascular%20dise ase%20market%2C%20which%20includes%20hypertension%2C%20dyslipidaemia,1.8%25%2C %20according%20to%20business%20intelligence%20provider%20GBI%20Research.

Authorisation & Additional Information

This announcement was authorised by the CEO of Volpara Health Technologies Limited.

ENDS

For further information, please contact:

Teri Thomas

Chief Executive Officer

Volpara Health Technologies teri.thomas@volparahealth.com t: +64 4 499 6029

Hannah Howlett

Director, Investor Relations

WE Communications WE-AUVolpara@we-worldwide.com

t: +61 407 933 437

 About Volpara Health Technologies Limited (ASX: VHT)

VHT is a health technology software company founded in 2009 on research originally conducted at the University of Oxford. VHT’s clinical functions for screening clinics provide feedback on breast density, compression, dose, and quality, while its mammography practice-management software helps with productivity, compliance, reimbursement, and patient tracking.

VHT’s technology and services have been used by customers and/or research projects in 40 countries and are supported by numerous patents, trademarks, and regulatory clearances, including FDA clearance and CE marking. Since its listing on the ASX in April 2016, VHT has raised A$132 million, including A$37 million in April/May 2020, and has made two significant acquisitions in MRS Systems, Inc. (patient tracking software), and CRA Health, LLC (risk and genetics software). VHT is based in Wellington, New Zealand.

For more information, visit www.volparahealth.com.

About Microsoft Corp (Nasdaq “MSFT” @microsoft)

Microsoft enables digital transformation for the era of an intelligent cloud and an in