Firefly Neuroscience CEO Issues Letter To Stockholders

Dear Fellow Firefly Stockholders,

This week's closing and the addition of working capital puts us in a position to execute on our strategic objectives.   This is an extraordinary milestone for us and our stockholders. Firefly is focused on using AI to bring objective assessment of brain function to the front lines of healthcare. We are dedicated to improving outcomes for people suffering with brain health illnesses and disorders such as dementia and depression. The right diagnosis and treatment, the first time, is something that drives us forward at Firefly.

We plan to execute upon two key strategic pathways to support better outcomes. First, the commercialization of our FDA-cleared Brain Network Analytics (BNA™) technology to neurologists in the United States, and second, partnering with Central Nervous System ("CNS") drug companies to advance the development of new treatments for people with brain health disorders and illnesses.

Firefly's BNA™ arrives at a critical time to help clinicians looking for innovative technologies that can provide an objective understanding of how the brain is functioning. BNA™ reinforces precise and timely diagnosis, and the optimization of patient care pathways. In fact, real world use of BNA™ in the United States has shown that when BNA™ is part of a patient care plan, patients required fewer medication changes, recovered faster, and were more compliant with their treatment. 1 Based on these promising results, we are very excited to make BNA™ commercially available to neurologists in 2025.

Through our partnerships with CNS drug development companies, we have already been featured in three publications in 2024. These include partnerships with Novartis, Takeda, and STALICLA SA. We are very proud of these collaborations, and their findings provide the impetus for us to pursue other partnerships in the CNS drug development space. If BNA™ is integrated into the clinical strategy, we believe that the cost of CNS drug development can be dramatically reduced, can help de-risk critical decision making, and potentially expedite time to approval.

We believe that Firefly's distinct advantage lies in our expertise in data science and clinical research. For example, our FDA-cleared age-matched normalized database is part of a standardized proprietary database of over 17,000 patients across 12 disorders and illnesses. We believe our database and proprietary technology gives us a strong competitive advantage in developing clinical biomarkers to help fundamentally change how clinicians manage their patients. We ascribe great importance to the value initial accurate diagnosis and effective treatment play in a patient's overall treatment plan. Furthermore, being in the advantageous position to commercialize BNA™ supports product development as our database grows with every BNA™ assessment, further establishing our leadership position in the CNS space.

In closing, I want to extend my appreciation for the hard work and passion exhibited by the entire Firefly team, and I would like to thank our stockholders for their patience and belief in our vision. Without your commitment and support, none of this would have been possible. Today our team is very well positioned to continue its commitment to improving patients' lives. Your trust and confidence in Firefly have helped us build the remarkable company we have become, and one whose future has never been brighter.

Sincerely,

Jon Olsen

CEO

Firefly Neuroscience, Inc.