NANO-X IMAGING Says The Board Approved Plan Targets A 25%–30% Reduction In Annualized Operating Expenses, Compared To Annualized 2026 GAAP And Non-GAAP Operating Expenses, Once Fully Implemented, Expected By The End Of Q1 2027

NANO-X IMAGING LTD (NASDAQ:NNOX) ("Nanox" or the "Company"), an innovative medical imaging technology company, today announced that the Board of Directors of the Company (the "Board") has approved a plan to reduce costs and improve operational efficiency. The plan approved by the Board is in addition to the Company’s previously announced cost reduction initiatives, including the restructuring of its South Korea operations, and is expected to reduce the Company’s operating expenses, extend its cash resources and enable the Company to focus on its core priorities.

The additional measures, together with previously implemented initiatives, are designed to achieve an annualized reduction of 25%–30% in the Company's GAAP and non-GAAP operating expenses, compared to annualized 2026 operating expenses, excluding one-time restructuring-related charges, once the measures are fully implemented, which the Company currently expects to occur by end of Q1 2027. The 25%–30% target includes the approximately $2 million in annual cost savings previously announced in connection with the restructuring of the Company's South Korea operations. The plan includes reductions in operating expenses, a reduction of the Company's global workforce, and other operational adjustments. The Company expects that, once fully implemented, these measures will reduce its ongoing cash burn. However, restructuring-related payments may increase cash outflows in the near term, and the timing and extent of any reduction in the Company’s ongoing cash burn will depend on the Company’s ability to implement the plan adopted by the Board and other factors affecting the Company's cash flows. In addition, Nanox continues to review further opportunities to reduce expenses and improve its operating efficiencies, including potential changes to certain manufacturing and supply chain arrangements, infrastructure expenditures and other operational activities. The scope, timing and implementation of these potential measures remain subject to further evaluation and, where applicable, any required third-party or regulatory consent.