Mr. Adrian Mendes reports

PERIMETER ANNOUNCES GRANT AND CANCELLATION OF STOCK OPTIONS

Perimeter Medical Imaging AI Inc. intends to enter into cancellation agreements with certain employees and consultants of the company, pursuant to which it will cancel and grant stock options to such employees and consultants.

The company intends to enter into such cancellation agreements, pursuant to which it will cancel up to 2,175,619 previously issued stock options, exercisable at prices ranging from 38 cents to $2.85, granted to 27 employees and consultants of the company. In replacement for such cancelled original options, the company intends to grant up to 2,175,619 stock options to such employees and consultants, entitling them to acquire up to 2,175,619 common shares at a price of 30 cents per common share. The replacement options are expected to vest as follows: (i) 1,848,990 replacement options vest at one-48th per month, beginning Jan. 1, 2026; (ii) 234,125 replacement options vest at one-36th per month, beginning Jan. 1, 2026; and (iii) the remaining 92,504 replacement options vest one-12th per month, beginning Jan. 1, 2026. The replacement options will continue to have the same expiry date as the original options which they are replacing.

No directors or officers of the company will enter into cancellation agreements, have original options cancelled or receive replacement options.

The cancellation of the original options and issuance of the replacement options are considered a repricing under the policies of the TSX Venture Exchange and remain subject to the approval of the TSX Venture Exchange.

About Perimeter Medical Imaging AI Inc.

Based in Toronto, Canada, and Dallas, Tex., Perimeter Medical Imaging AI is a medical technology company driven to transform cancer surgery with ultrahigh-resolution, real-time, advanced imaging tools to address areas of high unmet medical need. Available across the United States, its Food and Drug Administration-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 its next-generation artificial intelligence technology that was recently evaluated in a pivotal clinical trial, with support from a grant of up to $7.4-million (U.S.) awarded by the Cancer Prevention and Research Institute of Texas. The company's ticker symbol PINK is a reference to the pink ribbons used during breast cancer awareness month.

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