Polarean Imaging Plc - Exercise of Warrants

2 March 2020

Polarean Imaging Plc

(“Polarean” or the “Company”)

Exercise of Warrants

Polarean Imaging plc (AIM: POLX), the medical‑imaging technology company, with a proprietary drug‑device combination product for the magnetic resonance imaging (MRI) market, announces that it has issued 232,010 new ordinary shares of £0.00037 each in the capital of the Company (“Ordinary Shares”) at par value (the “New Shares”), following the exercise of warrants by Amphion Innovations plc (“Amphion”).

The consideration received by the Company pursuant to the warrant exercise will be approximately US$45,000.

Application will be made for the New Shares, which will rank pari passu with existing Ordinary Shares, to be admitted to trading on AIM (‘Admission’). It is expected that Admission will become effective and dealings will commence at 8:00 a.m. on or around 6 March 2020.

Following Admission, Amphion will hold 232,010 Ordinary Shares, representing 0.2% of the Company’s issued share capital with voting rights. After this exercise, Amphion does not hold any Polarean warrants.

Total Voting Rights

Following Admission, the total issued share capital of the Company will consist of 114,670,610 Ordinary Shares. This number may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest, or a change to their interest in, the Company under the FCA’s Disclosure Guidance and Transparency Rules.

This announcement contains inside information for the purposes of Article 7 of Regulation (EU) 596/2014.

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