Novel medical imaging system to assist surgeons with real-time margin visualization in the OR

Pavilion Surgery Center, an affiliate of St. Joseph Hospital, along with Perimeter Medical Imaging AI, Inc. (TSX-V:PINK)(OTC:PYNKF) (FSE:4PC) (“Perimeter” or the “Company”) – a medical technology company driven to transform cancer surgery with ultra-high-resolution, real-time, advanced imaging tools to address high unmet medical needs – today jointly announced the first commercial placement of the Perimeter S-Series OCT system in the state of California at Pavilion Surgery Center in Orange, CA. The new medical imaging technology will be used under the direction of Michele Carpenter, MD, a breast surgeon who performs breast conservation and other surgeries at Pavilion Surgery Center.

Perimeter S-Series OCT received FDA 510(k) clearance in 2021 and is a medical imaging tool that uses Optical Coherence Tomography (OCT) to provide clinicians with cross-sectional, real-time margin visualization (1-2 mm below the surface) of an excised tissue specimen.

Michele Carpenter, MD, FACS, Breast Program Director, The Center for Cancer Prevention and Treatment, St. Joseph Hospital, Orange, CA, commented, “For years, breast surgeons have worried about not getting clean margins the first time they do a lumpectomy for breast cancer. With the Perimeter S-Series OCT system, we have a much better chance of doing that the first time.”

Alejandro Ramirez, MD, Medical Director, Chief of Medical Staff, Pavilion Surgery Center, said, “As part of Pavilion’s commitment to clinical excellence and innovation, we highly value the Perimeter S-Series OCT system to ensure the best outcome for our patients.”

Steve Sapot, Perimeter’s Chief Commercial Officer, stated, “This placement of the Perimeter S-Series OCT system is another successful outcome of our many market development activities underway across the U.S. Our sales team continues to connect with leading healthcare institutions to train and support innovative physicians who see the true benefits of using Perimeter’s technology in their surgical practices. We remain laser-focused on bringing Perimeter’s transformative ultra-high resolution medical imaging technology directly into the OR to assist the surgeon with real-time intraoperative margin visualization – with the aim of improving patient outcomes and reducing healthcare costs.”

About Perimeter S-Series OCT

Cleared by the FDA as an imaging tool in the evaluation of excised tissue microstructure, the company is bringing the Perimeter S-Series Optical Coherence Tomography (OCT) system to leading surgeons in hospitals across the U.S. Perimeter S-Series OCT gives physicians the ability to visualize microscopic tissue structures at the point-of-care – during the primary surgery compared to days later when pathology reports are available. This novel technology provides cross-sectional images of tissues down to 2mm depth, with 10x higher image resolution than standard x-ray and ultrasound. Giving physicians the ability to visualize microscopic tissue structures real-time in the operating room has the potential to result in better long-term outcomes for patients and lower costs to the healthcare system.

About Pavilion Surgery Center

Pavilion Surgery Center is one of Orange County’s premier healthcare facilities and one of the most technologically advanced outpatient surgical facilities in the greater Orange area. Affiliated with Providence St. Joseph Hospital, the center is physician-run and home to the latest advances in technology and equipment, many of the area’s most reputable physicians and surgeons, and a hand-picked team of experienced and highly trained nurses and technicians. Pavilion Surgery Center is a multi-specialty surgical center, with 12 ORs and 4 GI suites.

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 under clinical development. The company’s ticker symbol “PINK” is a reference to the pink ribbons used during Breast Cancer Awareness Month.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Forward-Looking Statements

This news release contains statements that constitute “forward-looking information” within the meaning of applicable Canadian securities legislation. In this news release, words such as “may,” “would,” “could,” “will,” “likely,” “believe,” “expect,” “anticipate,” “intend,” “plan,” “estimate,” and similar words and the negative form thereof are used to identify forward-looking statements. Forward-looking information may relate to management’s future outlook and anticipated events or results and may include statements or information regarding the future financial position, business strategy and strategic goals, competitive conditions, research and development activities, projected costs and capital expenditures, research and clinical testing outcomes, taxes and plans and objectives of, or involving, Perimeter. Without limitation, information regarding the potential benefits of Perimeter S-Series OCT, Perimeter B-Series OCT, and Perimeter ImgAssist are forward-looking information. Forward-looking statements should not be read as guarantees of future performance or results, and will not necessarily be accurate indications of whether, or the times at or by which, any particular result will be achieved. No assurance can be given that any events anticipated by the forward-looking information will transpire or occur. Forward-looking information is based on information available at the time and/or management’s good-faith belief with respect to future events and are subject to known or unknown risks, uncertainties, assumptions, and other unpredictable factors, many of which are beyond Perimeter’s control. Such forward-looking statements reflect Perimeter’s current view with respect to future events, but are inherently subject to significant medical, scientific, business, economic, competitive, political, and social uncertainties and contingencies. In making forward-looking statements, Perimeter may make various material assumptions, including but not limited to (i) the accuracy of Perimeter’s financial projections; (ii) obtaining positive results from trials; (iii) obtaining necessary regulatory approvals; and (iv) general business, market, and economic conditions. Further risks, uncertainties and assumptions include, but are not limited to, those applicable to Perimeter and described in Perimeter’s Management Discussion and Analysis for the year ended December 31, 2021, which is available on Perimeter’s SEDAR profile at www.sedar.com, and could cause actual events or results to differ materially from those projected in any forward-looking statements. Perimeter does not intend, nor does Perimeter undertake any obligation, to update or revise any forward-looking information contained in this news release to reflect subsequent information, events, or circumstances or otherwise, except if required by applicable laws.

Jodi Regts Perimeter Medical Imaging AI, Inc. Direct: 469-743-1834 Toll-free: 888-988-7465 (PINK) Investors: investors@perimetermed.com Media: media@perimetermed.com

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