Announcement PDF HITIQ Limited Unit 4/38-42 White Street, South Melbourne 3205 ASX: HIQ Investors@hitiq.com ACN 609 543 213 www.hitiq.com HITIQ LIMITED ASX ANNOUNCEMENT Quarterly Activities Report – September 2026 30 October 2026 Quarter Highlights • US Defence Research Collaboration: Executed a non-binding Letter of Intent with the University of Southern Mississippi Sport and Tactical Athlete Research Lab (USM STAR) and the University of Mississippi National Center for Tactical Readiness (UM NCTR), establishing a framework to evaluate head impact exposure and head-neck kinematics in military and tactical training environments. • Strategic Military Advisor Appointed: Appointed Aaron Bell, a former full-time Australian Army Lieutenant Colonel with more than 25 years of experience, to support Defence engagement, capability development and procurement strategy, including engineering guidance on military deployment requirements. • Balance Sheet Strengthened: Harmil Angel Investments converted $1 million of convertible notes, including associated interest amounts, into ordinary shares. The conversion reduced debt without generating new cash proceeds. • R&D Funding Facility Established: Entered into a $1.5 million rolling R&D tax incentive loan facility with No Bull Health Pty Ltd at 12% per annum. An initial $750,000 drawdown was completed. The facility is initially unsecured, with proposed security subject to shareholder approval. • Victorian Government Grant Received: Received $480,000 in July under the Victorian Government grant program, supporting the Company’s Victorian manufacturing and research capability. • Placement and Shareholder Approvals: Progressed the approximately $1.4 million placement announced in June. All eight resolutions at the 7 September General Meeting were carried, with second-tranche shares and attaching options subsequently issued. HITIQ Limited Unit 4/38-42 White Street, South Melbourne 3205 ASX: HIQ Investors@hitiq.com ACN 609 543 213 www.hitiq.com Operational and Strategic Updates During the September 2026 quarter, HITIQ Limited (ASX: HIQ) (HITIQ or the Company) continued to progress its Defence strategy, including a US research collaboration and the appointment of a Strategic Military Advisor. The Company also progressed its capital management initiatives through placement activity, receipt of Victorian Government grant funding, a debt-to-equity conversion and the establishment of a new R&D tax incentive loan facility. On 20 August 2026, HITIQ announced a Letter of Intent with USM STAR and UM NCTR. The initial collaboration focuses on using PROTEQT D-MAX and PROTEQT instrumented mouthguard technologies to measure head impact exposure and head-neck kinematics in military and tactical training environments. The proposed work includes potential applications in firearms training and special operations environments. USM STAR and UM NCTR bring research capability in military safety, performance and tactical readiness. The parties intend to explore potential future Cooperative Research and Development Agreements (CRADAs) with US military stakeholders, subject to relevant approvals and separate formal agreements. The Letter of Intent is non-binding. Specific study scopes, funding arrangements, data rights, publication rights and any future CRADAs remain subject to separate formal agreements. The collaboration does not constitute a binding procurement contract or committed revenue. Aaron Bell was appointed Strategic Military Advisor alongside the collaboration. His experience includes service as Chief Engineer for the Australian Army’s Black Hawk, Kiowa and Chinook helicopter fleets and Chief of Plans for Joint Task Force 633. His role includes supporting Defence engagement, procurement pathways, systems integration, data optimisation and ruggedisation requirements. The Company’s Defence strategy builds on the sensor and analytics platform supporting its existing sport products. The August update reported Australian scope-of-work discussions and development of channels in the United States and United Kingdom. These activities support the evaluation and potential adoption of PROTEQT D-MAX within Defence environments. The $480,000 Victorian Government grant receipt during July supported the funding framework for the Company’s Victorian manufacturing and research activities. The Company’s existing sport, university and research relationships remain part of the broader commercial platform described in its FY26 Annual Report. Sport and Retail Commercial Expansion: HITIQ remains firmly committed to its sport and retail markets, with continued focus on driving sales of its PROTEQT smart mouthguard. The Company is HITIQ Limited Unit 4/38-42 White Street, South Melbourne 3205 ASX: HIQ Investors@hitiq.com ACN 609 543 213 www.hitiq.com working with major retail partners, including Rebel, Chemist Warehouse, JB Hi-Fi and Amazon, to strengthen distribution and maximise sales opportunities ahead of the key January sporting period. HITIQ is also progressing partnerships with leading Australian community football competitions, including the VAFA and the Southern Football Netball League, supported by ongoing AFL and NRL ambassador engagement to increase brand awareness and market adoption. United States Market Expansion: HITIQ continues to progress its US expansion strategy through ongoing discussions with prospective strategic partners to support market entry and distribution across universities and major US retail channels. In parallel, the Company is advancing its US regulatory strategy to support future commercialisation and broader market access. These initiatives form part of HITIQ's strategy to establish a sustainable presence in the US sport, research and retail markets. Capital Management and Corporate Activity Placement shares were issued in July and September at $0.007 per share in connection with the approximately $1.4 million placement announced on 29 June 2026. The July issues comprised 80,271,434 shares on 3 July and 95,714,290 shares on 6 July. Following shareholder approval, 24,014,276 additional placement shares were issued on 10 September. At the General Meeting held on 7 September, shareholders carried all eight resolutions, covering placement ratification and securities issues, attaching options, lead manager options, director participation and other advisory arrangements. The Company issued 200 million free-attaching placement options on 10 September and 60 million lead manager options on 29 September. These options have an exercise price of $0.007 and expire on 30 June 2027. Their issue did not generate cash proceeds. Each option, upon exercise, entitles the holder to one ordinary share and one piggyback option exercisable at $0.007 and expiring on 30 June 2029. Future exercise proceeds are contingent on holder decisions. On 27 August, HITIQ announced the conversion by Harmil Angel Investments of $1 million of convertible notes, including associated interest amounts. The related quotation filing reported 198,412,698 shares issued on 26 August. Further conversion of the remaining note balance and accrued interest remains at Harmil’s election. Other securities activity included the conversion of 1,704,546 vested performance rights into shares in August, the issue of 3 million performance rights for advisory services, and the issue of 250,000 shares for brand ambassador services in September. These transactions are distinct from cash funding received. HITIQ Limited Unit 4/38-42 White Street, South Melbourne 3205 ASX: HIQ Investors@hitiq.com ACN 609 543 213 www.hitiq.com Jennifer Tucker’s resignation as Non-Executive Director was announced on 27 July. The Company released its FY26 Annual Report, Appendix 4E, Corporate Governance Statement and Appendix 4G on 28 August. Market Outlook The Company remains focused on progressing Defence evaluation and procurement pathways, advancing the next stages of its US research collaboration and pursuing revenue opportunities through existing commercial relationships. Proposed research programs and potential procurement opportunities remain subject to further agreements, funding and applicable approvals. Management continues to maintain a disciplined approach to expenditure and capital management. The R&D funding facility, Victorian Government grant funding and shareholder support provide funding sources as the Company progresses commercial opportunities across sport, research and Defence markets. Financial Position During the quarter, the Company received $480,000 under the Victorian Government grant program and completed an initial $750,000 drawdown under its new R&D tax incentive facility. Placement cash receipts and transaction costs are to be reconciled to the accompanying Appendix 4C. Cash and cash equivalents at 30 September 2026 were $658,242, with customer receipts of $2,889 and net operating cash outflows of $1,453,284. Available undrawn financing facilities at quarter end were $750,000. R&D Funding and Loans The $1.5 million No Bull Health R&D facility is a rolling facility subject to annual review, with interest of 12% per annum, an application fee of $5,500 including GST and a final tax claim date of 30 June 2027. It is initially unsecured; shareholder approval is to be sought at the upcoming General Meeting for a Specific Security Agreement. An initial $750,000 drawdown was completed with a further drawdown of $275,000 completed subsequent to the end of the quarter. On 2 October 2026 the previous R&D facility was repaid from the FY26 R&D tax incentive refund of $1,065,734, with the shortfall of $472,234 rolled into the new facility. HITIQ Limited Unit 4/38-42 White Street, South Melbourne 3205 ASX: HIQ Investors@hitiq.com ACN 609 543 213 www.hitiq.com Related Party Payments Payments to related parties during the quarter comprised executive and non-executive director remuneration consistent with the disclosures contained within the accompanying Appendix 4C. • Executive Director Salary and Superannuation - $105,668 • Non-Executive Director fees - $15,750 About HITIQ HITIQ Limited (ASX: HIQ) operates in the healthcare equipment sector, developing an end-to-end concussion management and athlete safety technology platform. The Company’s PROTEQT system combines instrumented smart mouthguards with advanced analytics to support the identification, monitoring and management of sport-related brain injury across elite, community, research, defence and institutional settings. HITIQ is targeting the growing global concussion management market through the integration of advanced wearable technology, cloud-based analytics and real-time data insights, with applications across elite and community sport, universities, military and healthcare markets. Authorised for release by the Board of Directors. For more information, contact: investors@hitiq.co HITIQ Limited Unit 4/38-42 White Street, South Melbourne 3205 ASX: HIQ Investors@hitiq.com ACN 609 543 213 www.hitiq.com Appendix 4C Quarterly cash flow report for entities subject to Listing Rule 4.7B Name of entity HITIQ Limited ABN Quarter ended (“current quarter”) 53 609 543 213 30 September 2026 Consolidated statement of cash flows Current quarter $A’000 Year to date (3 months) $A’000 1. Cash flows from operating activities 3 3 1.1 Receipts from customers 1.2 Payments for (200) (200) research and development product manufacturing and operating costs - - advertising and marketing (82) (82) leased assets - - staff costs (900) (900) administration and corporate costs (755) (755) 1.3 Dividends received (see note 3) - - 1.4 Interest received 1 1 1.5 Interest and other costs of finance paid - - 1.6 Income taxes paid - - 1.7 Government grants and tax incentives 480 480 1.8 Other (GST & re-imbursement) - - 1.9 Net cash from / (used in) operating activities (1,453) (1,453) 2. Cash flows from investing activities - - 2.1 Payments to acquire or for: (a) entities businesses - - property, plant and equipment - - investments - - intellectual property - - other non-current assets - - 2.2 Proceeds from disposal of: - - (a) entities businesses - - property, plant and equipment - - HITIQ Limited Unit 4/38-42 White Street, South Melbourne 3205 ASX: HIQ Investors@hitiq.com ACN 609 543 213 www.hitiq.com Consolidated statement of cash flows Current quarter $A’000 Year to date (3 months) $A’000 investments - - intellectual property - - other non-current assets - - 2.3 Cash flows from loans to other entities - - 2.4 Dividends received (see note 3) - - 2.5 Other (provide details if material) 2.6 Net cash from / (used in) investing activities - - - 3. Cash flows from financing activities 1,276 1,276 3.1 Proceeds from issues of equity securities (excluding convertible debt securities) 3.2 Proceeds from issue of convertible debt securities - - 3.3 Proceeds from exercise of options - - 3.4 Transaction costs related to issues of equity securities or convertible debt securities (93) (93) 3.5 Proceeds from borrowings 760 760 3.6 Repayment of borrowings - - 3.7 Transaction costs related to loans and borrowings - - 3.8 Dividends paid - - 3.9 Other (provide details if material) - - 3.10 Net cash from / (used in) financing activities 1,943 1,943 4. Net increase / (decrease) in cash and cash equivalents for the period 169 169 4.1 Cash and cash equivalents at beginning of period 4.2 Net cash from / (used in) operating activities (item 1.9 above) (1,453) (1,453) 4.3 Net cash from / (used in) investing activities (item 2.6 above) - - 4.4 Net cash from / (used in) financing activities (item 3.10 above) 1,943 1,943 4.5 Effect of movement in exchange rates on cash held (1) (1) 4.6 Cash and cash equivalents at end of period 658 658 HITIQ Limited Unit 4/38-42 White Street, South Melbourne 3205 ASX: HIQ Investors@hitiq.com ACN 609 543 213 www.hitiq.com 5. Reconciliation of cash and cash equivalents at the end of the quarter (as shown in the consolidated statement of cash flows) to the related items in the accounts Current quarter $A’000 Previous quarter $A’000 5.1 Bank balances 658 169 5.2 Call deposits - - 5.3 Bank overdrafts - - 5.4 Other (provide details) - - 5.5 Cash and cash equivalents at end of quarter (should equal item 4.6 above) 658 169 6. Payments to related parties of the entity and their associates Current quarter $A'000 6.1 Aggregate amount of payments to related parties and their associates included in item 1 121 6.2 Aggregate amount of payments to related parties and their associates included in item 2 - Note: if any amounts are shown in items 6.1 or 6.2, your quarterly activity report must include a description of, and an explanation for, such payments. The amount at 6.1 includes Director fees and salary (including superannuation) for the Executive Chairman and Non-Executive Directors. 7. Financing facilities Note: the term “facility’ includes all forms of financing arrangements available to the entity. Add notes as necessary for an understanding of the sources of finance available to the entity. Total facility amount at quarter end $A’000 Amount drawn at quarter end $A’000 7.1 Loan facilities 4,524 3,774 7.2 Credit standby arrangements - - 7.3 Other (please specify) - - 7.4 Total financing facilities 4,524 3,774 7.5 Unused financing facilities available at quarter end 750 7.6 Include in the box below a description of each facility above, including the lender, interest rate, maturity date and whether it is secured or unsecured. If any additional financing facilities have been entered into or are proposed to be entered into after quarter end, include a note providing details of those facilities as well. HITIQ Limited Unit 4/38-42 White Street, South Melbourne 3205 ASX: HIQ Investors@hitiq.com ACN 609 543 213 www.hitiq.com The Company has a Convertible Note facility with its major shareholder, Harmil Investments Pty Ltd (Harmil) which has an interest rate of 12.5%. During the quarter, Harmil converted $1,000,000 of the convertible note into fully paid ordinary shares. The balance of the facility at 30 September was $1,084,628. The Company has three additional facilities with No Bull, an associated entity of Harmil, the first a fully drawn $1,400,000 loan which is secured against the FY26 R&D refund, also a $500,000 loan facility that has been extended prior to previous quarter end, with the accrued interest of $39,266 capitalised to the total loan facility balance at that point. During the quarter the Company announced a $1,500,000 R&D tax incentive loan facility with No Bull. The facility bears interest at 12% per annum, is rolling subject to annual review, and has a final tax claim date of 30 June 2027. The application fee is $5,500 including GST. An initial $750,000 drawdown was completed. 8. Estimated cash available for future operating activities $A’000 8.1 Net cash from / (used in) operating activities (item 1.9) (1,453) 8.2 Cash and cash equivalents at quarter end (item 4.6) 658 8.3 Unused finance facilities available at quarter end (item 7.5) 750 8.4 Total available funding (item 8.2 + item 8.3) 1,408 8.5 Estimated quarters of funding available (item 8.4 divided by item 8.1) 1.0 Note: if the entity has reported positive net operating cash flows in item 1.9, answer item 8.5 as “N/A”. Otherwise, a figure for the estimated quarters of funding available must be included in item 8.5. 8.6 If item 8.5 is less than 2 quarters, please provide answers to the following questions: 8.6.1 Does the entity expect that it will continue to have the current level of net operating cash flows for the time being and, if not, why not? Answer: Yes, cashflows to continue as sales increase and the capital management considerations are implemented. 8.6.2 Has the entity taken any steps, or does it propose to take any steps, to raise further cash to fund its operations and, if so, what are those steps and how likely does it believe that they will be successful? Answer: The Company completed a capital raise of $1,250,000, entered into a new R&D loan facility with initial $750,000 drawdown and received first tranche of Victorian Government grant of $480,000. The Company remains confident it will continue to secure additional funding as required. 8.6.3 Does the entity expect to be able to continue its operations and to meet its business objectives and, if so, on what basis? Answer: Yes, the company expects to be able to continue its operations and meet its business objectives on the basis of the expected implementation and completion of the activities outlined in 8.6.2. HITIQ Limited Unit 4/38-42 White Street, South Melbourne 3205 ASX: HIQ Investors@hitiq.com ACN 609 543 213 www.hitiq.com Note: where item 8.5 is less than 2 quarters, all of questions 8.6.1, 8.6.2 and 8.6.3 above must be answered. Compliance statement 1 This statement has been prepared in accordance with accounting standards and policies which comply with Listing Rule 19.11A. 2 This statement gives a true and fair view of the matters disclosed. Date: 30 October 2026 Authorised by: The Board of HITIQ Limited (Name of body or officer authorising release – see note 4) HITIQ Limited Unit 4/38-42 White Street, South Melbourne 3205 ASX: HIQ Investors@hitiq.com ACN 609 543 213 www.hitiq.com Notes 1. This quarterly cash flow report and the accompanying activity report provide a basis for informing the market about the entity’s activities for the past quarter, how they have been financed and the effect this has had on its cash position. An entity that wishes to disclose additional information over and above the minimum required under the Listing Rules is encouraged to do so. 2. If this quarterly cash flow report has been prepared in accordance with Australian Accounting Standards, the definitions in, and provisions of, AASB 107: Statement of Cash Flows apply to this report. If this quarterly cash flow report has been prepared in accordance with other accounting standards agreed by ASX pursuant to Listing Rule 19.11A, the corresponding equivalent standard applies to this report. 3. Dividends received may be classified either as cash flows from operating activities or cash flows from investing activities, depending on the accounting policy of the entity. 4. If this report has been authorised for release to the market by your board of directors, you can insert here: “By the board”. If it has been authorised for release to the market by a committee of your board of directors, you can insert here: “By the [name of board committee – eg Audit and Risk Committee]”. If it has been authorised for release to the market by a disclosure committee, you can insert here: “By the Disclosure Committee”. 5. If this report has been authorised for release to the market by your board of directors and you wish to hold yourself out as complying with recommendation 4.2 of the ASX Corporate Governance Council’s Corporate Governance Principles and Recommendations, the board should have received a declaration from its CEO and CFO that, in their opinion, the financial records of the entity have been properly maintained, that this report complies with the appropriate accounting standards and gives a true and fair view of the cash flows of the entity, and that their opinion has been formed on the basis of a sound system of risk management and internal control which is operating effectively.