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LETTER FROM THE MANAGING DIRECTOR & CEO

January 2018

Dear Friends, Colleagues and Stakeholders,

You are on an amazing journey with us. Today we stand together at the frontier of surgical robotic technology, and just over the horizon we have some exciting developments we can’t wait to share.

In 2018, we invite you to get inspired by NISI’s surgical revolution.

Go NISI and Get Inspired

Go NISI and Get Inspired” is more than our slogan for 2018 – it’s a mindset. A mindset that encourages the unwavering entrepreneurial spirit of NISI at its core, allowing people to dream, to inspire one another and be inspired by the knowledge we can achieve together. With commitment and passion, we strive to deliver technological innovations with the goal of improving patient’s lives around the world.

Inspiring Dreams, Changing Lives

At NISI, we aim to revolutionize the field of non-invasive surgery. Similar to game changers such as Apple and Tesla, we seek to inspire the unimagined and solve the impossible. Our flagship products, including the previously announced surgical robotic system known as IMAGINE, will do just that, and in the process we will inspire new methods of surgical implementation not yet dreamed of.

How will we become a world leader in non-invasive surgical robotic technology? By pushing the limits of such technology to transform the current practice of minimally invasive surgery (“MIS”). Our user-driven design leverages the experience and insights of experienced surgeons to address the deficiencies of current MIS technologies.

We have chosen four core values, namely innovation, commitment, passion and unity, as the basis of our corporate culture.

Innovation

We challenge conventions, explore undiscovered opportunities and turn visions into reality. NISI’s patented technologies are far more advanced than the prevailing technologies in the market.

Our growing global patent portfolio exemplifies NISI’s continued dedication to R&D, uniqueness of our core technologies and technological advancements in non-invasive surgery. For instance, recently granted patents cover virtually all aspects of the IMAGINE surgical robotic system, ranging from internally motorized robotic arms to a novel cannula system and detachable end effector systems.

Last year, for the first time in medical history, NISI together with the Department of Surgery at the University of Hong Kong (“HKU”) conducted a series of successful trans-rectal cholecystectomies using the IMAGINE prototype in live pigs. We also welcomed the construction of good manufacturing practice (“GMP”) cleanroom facilities in September.

While these innovations are exciting for us, our work is also attracting the attention and support of government funding. NISI was approved for a maximum funding of HKD10 million under the Enterprise Support Scheme from the Innovation and Technology Fund of the Hong Kong Special Administrative Region for IMAGINE, which commenced in August. In addition, we completed in December another round of financing in the release of Tranche II of the Pre-Series A round.

Commitment

Our team is devoted to overcome the challenges and complexities to achieve our mission and realize our vision. Demographic and economic changes mean increased demand for faster, cheaper and more compassionate care. NISI faces these challenges head on.

Our mission is to become a world leader in non-invasive surgical robotic technology. Our team of dedicated professionals, who are all leaders in their respective fields, seek to develop next generation products that will push the boundaries of medicine and robotics. Our vision is to revolutionize modern surgery by making non-invasive surgical procedures a commonplace reality. We envision a world where we can heal without causing harm. We believe that this presents a new opportunity that can alter the course of surgical science for the betterment of all patients.

Moving into 2018, we continue to commit extensive applied and clinical research to our product development in collaboration with our esteemed partners at the Innovation and Technology Bureau of the Hong Kong Special Administrative Region Government, HKU – Clinical Trials Centre, University of Cambridge (“Cambridge”) and maxon motor ag.

Passion

Our work motivates and inspires us to transform the surgical world. Our passion for the future of non-invasive surgery and its public benefits have not gone unnoticed, securing two significant recognitions in the past year.

Bio-Medical Engineering (HK) Limited, a wholly-owned subsidiary of NISI, was presented with the “Distinguished Knowledge Transfer Partnership Award” by the Hong Kong Polytechnic University in June. NISI has also been nominated for the “Caring Company Award” under the Caring Company Scheme by the Hong Kong Council of Social Service in March.

We continue to develop relationships with industry leaders who can spread the word about who we are and what we do. In February, we hosted a keynote speech by Nicholas Yang, Secretary for Innovation and Technology of Hong Kong, at NISI’s annual dinner. In April, our Cyberport office opened its doors to Wing-Man Ko, former Secretary for Food and Health of Hong Kong, and Patrick Tak-Kuen Nip, Secretary for Constitutional and Mainland Affairs.

Unity

We value each other and strive to work together to achieve our collective goals. NISI celebrated four new appointments who have committed their efforts to our revolutionary vision.

Nobel Laureate and former US Secretary of Energy Steven Chu, Academician of the Chinese Academy of Sciences and Chairman of the Medical Council of Hong Kong Joseph Wan-Yee Lau, and Standing Committee Member of the National Committee of the Chinese People‘s Political Consultative Conference of China Anthony Ting-Yuk Wu joined the Board in January, February and July respectively. Fellow of the Royal Academy of Engineering and Head of Department of Engineering at Cambridge David Cardwell also joined the Advisory Board in July.

However, the most important part of our year was you. Your continued support of NISI and its vision gives us a solid foundation for the next big milestone. Accomplishing anything great in life requires a significant change that pushes us beyond our comfort zones. We believe that no matter how big the dream or how difficult the journey, we can make a difference.

On behalf of all of us at NISI, we are excited to show you what 2018 holds. Go NISI and Get Inspired!

Sincerely,

Dave English Signature s

David Tze-Kin Wong

Founder, Managing Director & CEO