ResApp Health Limited advised that it has received the independent results from the Data Confirmation Study of its COVID-19 algorithm associated with the revised scheme of arrangement (Revised Scheme) with Pfizer Australia Holdings Pty Limited (Pfizer). The Data Confirmation Study was conducted by ResApp to provide confirmation of the previously announced results of ResApp's pilot study on an independent data set. Given the Data Confirmation Study was ongoing at the time the terms of Revised Scheme were agreed, ResApp entered into a Revised Scheme Implementation Deed with Pfizer under which the Scheme Consideration payable to ResApp shareholders would be conditional on the results of the Data Confirmation Study.

The Data Confirmation Study showed that ResApp's COVID-19 algorithm achieved a sensitivity of 84% and a specificity of 58%, significantly lower than the results of ResApp's pilot study. These results are also below the thresholds required to satisfy the Confirmatory Data Readout Condition under the Revised Scheme, which consisted of a minimum sensitivity of 86% and a minimum specificity of 71%. The results were both calculated by ResApp and independently analysed and verified by a highly qualified and respected independent third-party statistician.

The ResApp Board continues to unanimously recommend that shareholders vote in favour of the Revised Scheme at the Scheme Meeting, in the absence of a superior proposal and subject to the Independent Expert concluding in the final Independent Expert's Report (and continuing to conclude) that the Revised Scheme is in the best interests of shareholders. The ResApp Board believes that the terms of the Revised Scheme recognise ResApp's long-term growth prospects, as well as the risks associated with those prospects, and provides certainty, in cash, to ResApp shareholders. ResApp expects to provide the Scheme Booklet to shareholders in early-mid July, with the Scheme meeting to be held in August.