VGI Health Technology : Update for the period ending 31 March 2022

VGI Health Technology Limited

ABN: 35 111 082 485

Address: Level 45, MLC Centre, 19 Martin Place, Sydney NSW 2000

www.vgiht.com| Tel: [phone]

VGI Health Technology Limited

Sydney New South Wales, 29 April 2022 - The Directors of VGI Health Technology Limited (the Company or VTL) are pleased to provide the following update for the quarter ending 31 March 2022.

Status of Patent Ownership

On 8 February 2022, VGI Health Technology Limited was pleased to announce that the Hong Kong Patent Office has granted a patent for the Transmucosal Delivery of Tocotrienols to its wholly-owned subsidiary, Invictus Biotechnology Pty Ltd. (Invictus). The patent is directed to transmucosal delivery of tocotrienols for the treatment or prevention of Delayed Onset Muscle Soreness (DOMS) and will provide patent rights in Hong Kong until 2033. Invictus has filed a divisional patent application in China which, if granted, will expand the scope of patent coverage in both Hong Kong and China.

Technological and Product Development

On 25 January, Invictus Ops Pty Ltd ("Invictus"), a wholly owned subsidiary of VGI Health Technology Limited (NSX: VTL), was pleased to announce that it had contracted Resonance Health Ltd (ASX: RHT) ("Resonance Health") to provide liver-fat quantification services for its clinical study ("Study") on a potential new treatment for Non-Alcoholic Steatohepatitis ("NASH"). This Study is expected to span 18 months and involve approximately 100 trial participants. Resonance Health's recently (December 2020) US FDA regulatory cleared HepaFat-AI® medical device will be used for the first time in a NASH clinical study environment to measure, grade, and quantify the liver-fat of the trial participants at two-three timepoints over the 18-month period. This is the first time HepaFat-AI® will be used in a third-party NASH clinical trial and is therefore a milestone in the commercialisation of this technology platform. Importantly, the use of HepaFat-AI® in the Study further validates the efficacy of the device and sets a precedent for other clinical trial procurement efforts by Resonance Health. The contract value is estimated to be approximately A$100K and VGI Health Technology may discontinue or extend the Study at any time in which case the Resonance Health will be paid for services performed up to the termination date or additional payments may be due for any extension of the Study.

On 9 February 2022, VGI Health Technology Limited was pleased to announce that its wholly-owned subsidiary, Invictus Ops Pty Ltd, had received Human Research Ethics Committee (HREC) approval from a Lead Ethics Committee Site, Bellberry Ltd, for a Phase II clinical study on Non-Alcoholic Fatty Liver Disease (NAFLD)/Non-Alcoholic Steatohepatitis (NASH) at the Gallipoli Medical Research Foundation (GMRF) in Queensland. This HREC approval will also cover other sites for this study, and together with the other Lead Ethics Committee approval from the Royal Melbourne Hospital (which also applies to The John Hunter Hospital in New South Wales and other sites) previously announced on 6 October 2021, this now paves the way for all of the clinical study sites to commence recruitment of patients in March. This study will enrol eighty patients across eight sites in Australia. The study Invictus Ops Pty Ltd will be conducting is a randomised, double-blind, placebo-controlled Phase II clinical study on NAFLD/NASH to analyse the efficacy and safety of IVB001, a drug candidate based

on the non-invasive and direct delivery of tocotrienols using the Company's proprietary and patented transmucosal delivery platform.

On 23 February 2022, VGI Health Technology Limited was pleased to announce that Dr Jordan Moon, a member of its Scientific Advisory Board, would be presenting two abstracts at the American Physiological Society's (APS) Annual Meeting Experimental Biology Conference 2022 in Philadelphia, USA. The Experimental Biology Conference is the annual meeting of five societies that explores the latest research in anatomy, biochemistry and molecular biology, investigative pathology, pharmacology, and physiology. Thousands of participants represent scientists from academic institutions, government agencies, non-profit organizations and industry. In association with the APS, two abstracts will be presented on 5 April 2022 titled "Pharmacokinetics of a 40mg Sublingual Dose of Delta-Tocotrienol Powder" and "Pharmacokinetics of an 80mg Sublingual Dose of Delta-Tocotrienol Powder". The abstracts describe some of the results that have been generated from a pharmacokinetics study conducted by Dr Moon in the US using new formulations developed for the transmucosal delivery of tocotrienols. These new formulations and methods of manufacture are also the subject of a new patent filing "PCT/AU2021/051449 - Transmucosal delivery of tocotrienols" made by VTL's wholly-owned subsidiary Invictus Biotechnology Pty Ltd on 3 December 2021. The data from this study supports the fact that there is more flexibility with dosages for this particular drug delivery platform than earlier data had suggested.

On 21 March 2022, VGI Health Technology Limited was pleased to announce that Dr Jordan Moon would be presenting an abstract at the American Society for Nutrition (ASN) Annual Conference, Nutrition 2022. In association with the ASN, an abstract will be presented during the conference (14-16 June 2022) titled "Transmucosal delivery of tocotrienols from a delta-tocotrienol powder: A Multidose Pharmacokinetic study". The abstract describes some of the results that have been generated from a pharmacokinetics study conducted by Dr Moon in the US using new formulations developed for the transmucosal delivery of tocotrienols. These new formulations and methods of manufacture are also the subject of a new patent filing "PCT/AU2021/051449 - Transmucosal delivery of tocotrienols" made by VTL's wholly-owned subsidiary Invictus Biotechnology Pty Ltd on 3 December 2021. The data from this study supports the fact that there is more flexibility with dosages for this particular drug delivery platform than earlier research data had suggested.

Customer Recruitment

On 20 January 2022, Invictus Nutraceuticals, Inc. (Florida, USA), a wholly owned subsidiary of VGI Health Technology Limited, was pleased to announce that both NE1-Elite® and NE1-Heart® are now available for sale on Amazon in the United States. Amazon invests billions of dollars each year in logistics, tools, services and programs to help sellers build their brand. Invictus Nutraceuticals develops and commercializes nutraceutical products based on two proprietary and patented delivery platforms for improving the bioavailability and efficacy of tocotrienols (a natural product which is one part of vitamin E). NE1-Elite® reduces Delayed Onset Muscle Soreness (DOMS) and improves muscle recovery after workout along with being Informed Sport Certified (banned substance free tested). NE1-Heart® maintains heart health and increases the antioxidant status in the body.

On 25 February 2022, VGI Health Technology Limited was pleased to announce that its wholly-owned US subsidiary, Invictus Nutraceuticals, Inc. (IVN), had executed a Sales Representative Agreement with Continuum Sciences LLC of Colorado. Continuum Sciences has a successful track

record of placing innovative human consumer health products into major retailers in the US including Costco, Vitamin Shoppe, Walmart, Walgreens and Target. Through this Agreement, IVN is fast-tracking its retail market entry in the US and gaining access to retailers which would have otherwise required a much higher level of investment of capital and time by IVN. The Agreement between IVN and Continuum prescribes a range of commissions based on the gross invoice price of the products sold to the retailers by IVN as well as fees associated with marketing.

Quarterly Revenue

An update on the revenue for the March quarter will be provided in the NSX quarterly update to be released to the Market before the end of April.

Staff Recruitment

No new staff were recruited during the quarter.

For more information please contact:

Glenn Tong, CEO and Managing Director Ph: [phone]

Catriona Glover, Company Secretary Tel: [phone]

Andrew Crook, Investor and Media Relations Ph:[phone]

About VGI Health Technology Limited

VGI Health Technology Limited trading as VGI Health Technology is an Australian public listed biotechnology company (NSX:VTL) developing and commercialising novel dietary supplements and prescription medicines based on natural products (tocotrienols) which have wide therapeutic potential, including: Delayed Onset Muscle Soreness, muscle recovery, exercise endurance, Non-Alcoholic Fatty Liver Disease (NAFLD), Non-Alcoholic SteatoHepatitis (NASH), pancreatic cancer, hyperlipidaemia, hypertension and diabetes. VTL owns and controls patent and other intellectual property rights for novel approaches to non-invasively delivering tocotrienols directly to the target tissues. The Company has a product development program for evidence-based nutraceuticals and a clinical development program for prescription medicines.

For more information see:https://www.vgiht.com

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