Simavita releases progress update For Immediate Release: 20...

Simavita releases progress update For Immediate Release: 20 October, 2016 Sydney, Australia – Simavita Limited (“Simavita” or the “Company”) (ASX: SVA) today delivered a progress update to the market. In a few short months the Company has delivered significant change. We have: • Substantially increased sales, whilst reducing cost of goods sold, for our existing product range SIM™. Details of financial results will be included in the Company’s forthcoming Appendix 4C announcement to the ASX. • Materially reduced operating costs and outward cash flow. • In record time, our team has delivered a new and exciting incontinence management product AssessPLUS for new markets with significant unmet need. • Achieved a number of land mark transactions particularly in Australia and Europe. Background: Simavita is a world leader in the provision of smart, wearable and disposable sensors in the automated assessment and management of incontinence. Globally, the management of incontinence impacts many millions of people who range from seniors, the disabled and those with significant illness. The market is in the billions of dollars. In late April 2016, Simavita’s major shareholders moved to provide new financing to the Company and to introduce change management, including the formation of a largely new Board of Directors. This strategic change was a significant vote of confidence in the Company’s technology platform, its people and its future