Advanced Human Imaging (AHI) Prices 1M Share IPO at $10.50/sh

Advanced Human Imaging Limited (NASDAQ: AHI) is pleased to announce the pricing of its U.S. initial public offering of 1,000,000 units at a price to the public of US$10.50 per unit. Each unit issued in the offering consists of two American Depositary Shares ("ADSs") and one warrant to purchase one ADS. Each ADS offered represents 7 ordinary shares of AHI. The warrants will be exercisable immediately, expire three years from the date of issuance and will have an exercise price of US$5.52 per ADS. The ADSs and warrants are immediately separable and will be issued separately. The ADSs are expected to begin trading on the Nasdaq Capital Market under the ticker symbol "AHI" on November 19, 2021 and the warrants will not be listed for trading. Gross proceeds from the offering, before deducting underwriting discounts and commissions and other estimated offering expenses, are expected to be US$10.5 million.

In addition, AHI has granted the underwriters a 45-day option to purchase up to an additional 300,000 ADSs and/or up to an additional 150,000 warrants to purchase up to 150,000 ADSs at the public offering price, less underwriting discounts, and commissions.

The ADSs are expected to begin trading on the Nasdaq Capital Market on November 19, 2021, under the symbol "AHI". The offering is expected to close on November 23, 2021, subject to satisfaction of customary closing conditions.

We plan to use the net proceeds we receive from this offering primarily for research and product development of our current products and business development and marketing, with the remainder of the proceeds to be used for general corporate purposes, including, without limitation, investing in or acquiring companies that are synergistic with or complimentary to our technologies and working capital.

Maxim Group LLC is acting as sole book-running manager for the Offering.

The offering is being conducted pursuant to the Company's registration statement on Form F-1 (File No. 333-259090), as amended, previously filed with, and subsequently declared effective by, the Securities and Exchange Commission ("SEC") on November 18, 2021. A final prospectus relating to the offering will be filed with the SEC and will be available on the SEC's website at http://www.sec.gov. Electronic copies of the final prospectus relating to this offering, when available, may be obtained from Maxim Group LLC, 300 Park Avenue, 16th Floor, New York, NY 10022, at (212) 895-3745.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

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