NOTE 1 – GENERAL INFORMATION

Pulsenmore Ltd. (separately and collectively referred to with its wholly-owned subsidiaries as the “Company” or “Pulsenmore”) is an Israeli-based company, incorporated in Israel, and commenced its operations on October 27, 2014. The Company’s registered office is located at 8 Omarim Street, Omer, Israel.

In March 2022, the Company established a wholly owned subsidiary, Pulsenmore Americas LLC (hereinafter – the “U.S. Subsidiary”), located in Boston, USA. The U.S. Subsidiary was incorporated under Delaware state law and began operations on March 10, 2022.

In February 2023, the Company established a wholly owned subsidiary, Pulsenmore Korea (hereinafter – the “Korean Subsidiary”), located in Seongnam, South Korea. On December 31 2025, the Korean Subsidiary commenced a process of gradual shutdown over a period of five years which will lead to dissolution at the end of that period.

As of June 30, 2026, the Company operates in a one operating segment, focusing on the research, development, manufacturing, and global marketing of innovative technological solutions, specifically portable ultrasound devices for home use. These devices enable remote physical examinations and monitoring via telemedicine technology. The Company develops and sells miniaturized ultrasound systems.

The Company’s shares are traded on Tel-Aviv Stock Exchange (TASE) since 2021. In addition, On January 21, 2026, the Company completed registration on the Nasdaq and became a dual-listed company.

On August 26, 2025, the Company received from a European certification body an EU Quality Management System Certificate for Regulation (CE MDR), valid until August 19, 2030.

On October 31, 2025, the Company received approval to market the Company’s home ultrasound product from the U.S. Food and Drug Administration (FDA).

In October 2023, Israel was attacked by Hamas, a terrorist organization and entered a state of war. Since the commencement of these events, there have been additional active hostilities, including with Hezbollah in Lebanon, the Houthi movement which controls parts of Yemen, and with Iran. In response to ongoing Iranian aggression and support of proxy attacks against Israel, on June 12, 2025, Israel conducted a series of preemptive defensive air strikes in Iran targeting Iran’s nuclear program and military commanders. On June 24, 2025, a ceasefire with Iran was reached. On October 9, 2025, Israel, Hamas, the United States and other countries in the region agreed to a framework for a ceasefire in Gaza between Israel and Hamas. While that ceasefire has been mostly maintained, in late February 2026, Israel and the United States preemptively attacked Iran. As part of this conflict, Iran and Hezbollah have launched missile attacks throughout Israel. As a result, the Israeli government imposed restrictions on opening of non-essential places of business and announced recruitment of military reserves.

The Company considered the impact of the war and determined that there were no material adverse impacts on the consolidated financial statements, including related significant estimates made by management, for the period ended June 30, 2026.

NOTES TO THE CONDENSED CONSOLIDATED INTERIM FINANCIAL STATEMENTS

NOTE 1 – GENERAL INFORMATION (cont.)

However, at this time, it is not possible to predict the intensity or duration of the war, nor can the Company predict how this war will ultimately affect Israel’s economy in general. The Company continues to monitor the situation closely and examine the potential disruptions that could adversely affect its operations.

These condensed consolidated financial statements were authorized for issuance by the board of directors on August 27, 2026, and should be read in conjunction with the Company’s Annual Report on Form 20-F for the fiscal year ended December 31, 2025 (the “2025 Annual Report”) filed with the Securities and Exchange Commission (the “SEC”) on March 30, 2026.

NOTE 2 – BASIS OF PREPARATION OF CONDENSED CONSOLIDATED INTERIM FINANCIAL STATEMENTS

NOTE 3 – SIGNIFICANT ACCOUNTING POLICIES

Significant accounting policies and calculation methods that have been applied in the preparation of the Condensed Interim Financial Information are consistent with those used in the preparation of the Company’s 2025 annual Consolidated Financial Statements. As to accounting policy relating to new issued warrants and pre-funded warrants classified as financial liabilities (see note 4).

NOTE 4 – FINANCINGS

June 2026 private placement

On June 26, 2026, the Company entered into a Securities Purchase Agreement with a healthcare-focused institutional investor, for the purchase and sale of pre-funded warrants to purchase 1,562,500 ordinary shares and ordinary warrants to purchase up to 1,562,500 ordinary shares in a private placement at a combined purchase price of $4.7999 per pre-funded warrant and accompanying warrant, representing a premium to the Nasdaq Minimum Price under Nasdaq rules. The gross proceeds from the offering were NIS 22.5 million (approximately $7.5 million), before deducting placement agent commissions and other offering expenses in total amount of NIS 2.1 million (approximately $0.7 million). The ordinary warrants have an exercise price of $4.80 per share, are exercisable immediately upon issuance, and will expire five years following the date of issuance. The pre-funded warrants will have at an exercise price of $0.0001 per share and are exercisable immediately until exercised in full.

The pre-funded warrants and warrants were classified as liabilities on the consolidated statements of financial position. They were initially recorded at fair value and subsequently remeasured at each reporting period at fair value through profit or loss. The fair value of the pre-funded warrant liability is based on a valuation technique which is equal to the market price of the underlying share less the $0.0001 strike price. The pre-funded warrant’s fair value is evidenced based on a valuation technique using data from observable markets, therefore the difference between the fair value and the transaction price is recognized immediately as a day one loss. As of the transaction date, the excess of the initial fair value of pre-funded warrants over the transaction proceeds amounting to approximately NIS 12 million (approximately $4 million) was recorded as financial expenses. The warrant liability estimates the fair value using a Black Scholes option pricing model calculation using the following inputs: stock price (Level 1 input); risk-free rates (Level 1 input); volatility (Level 3 input). The excess of initial fair value over the transaction proceeds of the warrant liability (hereinafter – “Deferred day 1 loss”) amounting to NIS 7.3 million (approximately $2.4 million) was deferred and will be released to financial expenses over the contractual life of the warrants (5 years). From the date of the transaction until June 30, 2026, the Company released NIS 16 thousand (approximately $5.3 thousand) to financial expenses.

Since all the instruments that were issued are classified as liabilities, all transaction costs, in amount of NIS 2.1 million (approximately $0.7 million), were expensed, of which NIS 0.3 million (approximately $0.1 million) has not been paid yet.

NOTES TO THE CONDENSED CONSOLIDATED INTERIM FINANCIAL STATEMENTS

NOTE 5 – FINANCIAL INSTRUMENTS AND FINANCIAL RISK MANAGEMENT

The financial instruments of the Company, as of June 30, 2026, are accounted for under the amortized cost basis, except for the pre-funded warrants and warrants which are measured at fair value through profit or loss. The carrying amounts of the Company’s financial assets and financial liabilities provide a reasonable approximation of their fair value, as the impact of discounting is immaterial.

The different levels of valuation of financial instruments are defined as follows:

As described in Note 4, the fair value of the pre-funded warrants is determined using a Level 2 valuation technique, whereas the fair value of the warrants is determined using a Level 3 valuation technique. Changes in the fair value of the pre-funded warrants and warrants are recognized in profit or loss. The theoretical fair value of the granted warrants, calculated using the Black-Scholes model, is based on the following assumptions: share price of $5.56, strike price of $4.8, expected volatility in a rate of 63.41%, risk-free interest rate of 4.12% and expected life of 5 years.

NOTES TO THE CONDENSED CONSOLIDATED INTERIM FINANCIAL STATEMENTS

NOTE 5 – FINANCIAL INSTRUMENTS AND FINANCIAL RISK MANAGEMENT (cont.)

NOTE 6 – COMMITMENTS AND CONTINGENT LIABILITIES

On January 21, 2026, the Company signed an addendum to the agreement with Clalit, to supply Pulsenmore FC and to update the commercial understanding between the parties under the Follicle Agreement. According to the addendum the Company and Clalit shall be entitled to market Pulsenmore FC directly to patients. A pilot period of 18 months shall commence upon 30 days from signing the addendum, after which Clalit shall purchase a yearly minimum quantity of the Pulsenmore FC for a period of 5 years for a total consideration of $9 million. The agreement includes the option to return products by Clalit in accordance with the terms and conditions set forth therein.

On January 29, 2026, and on February 4, 2026, the Company entered into a services agreements, in accordance, with the two medical Centers Under those agreements, the medical centers will purchase Pulsenmore ES home ultrasound services. The services agreements are in force for a term of one year and will be renewed automatically for successive one-year periods unless either Party gives at least 30 days’ written notice of non-renewal before the end of the then-current term.

On June 17, 2026, the Company entered into a strategic partnership with Ouma Health to expand access to remote prenatal care across the United States. The collaboration is intended to support care delivery for underserved patient populations, including those living in maternity deserts and underserved communities, and to generate insights and experience that may support future expansion opportunities with healthcare systems, maternity care providers and payer organizations.

NOTES TO THE CONDENSED CONSOLIDATED INTERIM FINANCIAL STATEMENTS

NOTE 7 – SUBSEQUENT EVENTS

On July 2, 2026, the Company was selected to participate in Israel’s Healthcare AI Regulatory Sandbox Program, established by the Israel Innovation Authority (hereinafter – the “IIA”) and the Ministry of Health. As part of the program, the Company expects to lead a project valued at NIS 3 million (approximately $1 million). The grant approved amounted to NIS 1.2 million (approximately $0.4 million). On August 12, 2026 the IIA approved an additional amount of NIS 3.8 million (approximately $1.27 million) as a grant to the Company for SmartScan AI Program.

As to date of this report, the Company has not received any grants under these programs and has not yet incurred any related costs.