Update on Phase I Clinical Trial

September 10, 2021

IQ-AI Limited

("IQ-AI" or the "Company")

IQ-AI update on Phase I clinical trial and software sales

IQ-AI Limited (LSE: IQAI, OTCQB: IQAIF) announces that the Gallium Maltolate phase I clinical trial will now commence towards the end of Q4 2021. This rescheduling is the consequence of a change in the trial agent's encapsulation supplier.

While the selection and qualification process will result in a delay, securing and establishing a robust supply chain now will benefit subsequent trial phases and support high-volume production capacity. Overall, the trial continues to advance at a remarkable pace and has obtained all regulatory and institutional milestones as scheduled.

Elsewhere, IQAI continues to experience increased interest in its software platforms and further installations are anticipated to be contracted during Q4, when the Company will also be deploying its software at two more US National Cancer Institute-designated cancer centres on a trial basis.

The Directors of the Company accept responsibility for the contents of this announcement.