South Perth - Advanced Health Intelligence Ltd (ASX/NASDAQ: AHI) ('AHI' or the 'Company') is pleased to announce a significant milestone in its ongoing commitment to innovation and research.

AHI's submission to the Australian Government was successful in obtaining eligibility for 43.5% reimbursement of approved expenditures incurred abroad for overseas Research & Development (R&D) of intellectual property (IP) under the Australian Government Research and Development Tax Incentive Scheme.

Following a thorough review and assessment by the relevant governmental bodies, AHI's R&D projects for further enhancement of its IP pertaining to its biometric health assessment, clinical trial validations and on-device algorithms was approved. As a result, the Company is now eligible to claim 43.5% of the costs incurred for these approved Overseas Research and Development activities. After closing the acquisitions in 2022 of Vertica Health and wellteq Digital Health Inc., the Company expanded its global development team across the US, Singapore, South Africa, and Netherlands. The economic value returned to the Company through the R&D reimbursement scheme is significant, and AHI will now be able to cast a far broader net to attract additional skills required to extend its leadership in its field of smartphone-derived biometric health technology.

Vlado Bosanac, Founder and Head of Strategy at AHI, stated, 'This achievement is a pivotal moment in AHI's journey towards global innovation and improvement of care. The support from the Australian Government not only validates our innovation but also empowers us to continue to push the boundaries of research and development as a great Australian Company. Between 2017 and 2022, we have successfully applied for reimbursement through the R&DTI, across expenditure amounting to $13.36 million. This significant financial support has been instrumental in our growth and success. Now, with the ability to seek overseas expenditure reimbursement, we will expand this even further, opening new avenues for collaboration and innovation on a global scale. We are committed to leveraging this opportunity to enhance our global impact. Moreover, the economic value returned through the R&DTI will enable AHI to attract the skilled professionals we need from around the globe and continue to be at the forefront of innovation as a leading MedTech / Health-Tech company.'

Scott Montgomery, CEO of AHI, also commented, 'We are immensely proud of this accomplishment, and I want to extend my gratitude to our dedicated team that made this possible through pushing boundaries for nine years. The eligibility for off-shore R&D reimbursement significantly boosts our resources and allows us to invest further in developing ground-breaking IP that aligns with our vision to bring biometric health screening to every smartphone globally. The Research and Development Tax Incentive is vital in Australia's innovation landscape and greatly assists innovative companies to bridge the gap between research and commercialisation. By supporting businesses in their R&D endeavours, the scheme plays a key role in driving Australia's competitiveness on the global stage and fostering a thriving innovation ecosystem which we're very grateful for'.

This success underscores AHI's dedication to pioneering research and aligns with the Australian Government's robust support for advancing global research initiatives and Australian-owned IP development. It reflects both the stringent eligibility criteria and the broader goals of the R&D reimbursement program, designed to foster innovation and growth within the industry. The reimbursement will significantly contribute to AHI's ongoing R&D projects, enabling the Company to invest in cutting-edge technologies and methodologies that will drive future success and what we believe to be game-changing for global health.

Contact:

Scott Montgomery

Email: admin@ahi.tech

About Advanced Health Intelligence Ltd

Advanced Health Intelligence Ltd (AHI) is committed to becoming a global leader in digital health, harnessing its proprietary technology and innovative processes to redefine health screening. Leveraging the ubiquity and convenience of smartphones, AHI aims to deliver a comprehensive suite of assessment tools to healthcare providers, caregivers, insurers, and governments around the world.

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