X0206 3 2022-06-14 0 0001468492 Heart Test Laboratories, Inc. HSCS 0001933883 Simpson Andrew 550 RESERVE STREET, SUITE 360 SOUTHLAKE TX 76092 1 1 0 0 See Remarks Common Stock 436476 D Warrants 2.89 2021-11-17 2026-10-12 Common Stock 30 D Warrants 3.47 2013-06-28 2023-06-28 Common Stock 265 D Warrants 3.47 2013-08-23 2023-08-23 Common Stock 758 D Series C Convertible Preferred Stock 6.59 Common Stock 23216 D Employee Stock Option (Right to Buy) 12.21 2026-05-01 Common Stock 18939 D Employee Stock Option (Right to Buy) 12.21 2026-05-01 Common Stock 3788 D Employee Stock Option (Right to Buy) 15.18 2028-03-14 Common Stock 7576 D Employee Stock Option (Right to Buy) 15.18 2028-03-14 Common Stock 7576 D Employee Stock Option (Right to Buy) 15.18 2028-03-14 Common Stock 7576 D Employee Stock Option (Right to Buy) 15.18 2028-11-01 Common Stock 7576 D Employee Stock Option (Right to Buy) 15.18 2028-11-01 Common Stock 7576 D Employee Stock Option (Right to Buy) 15.18 2028-11-01 Common Stock 7576 D Employee Stock Option (Right to Buy) 1.29 2029-09-01 Common Stock 22727 D Employee Stock Option (Right to Buy) 1.29 2029-09-01 Common Stock 30303 D Employee Stock Option (Right to Buy) 1.29 2030-11-06 Common Stock 26515 D Employee Stock Option (Right to Buy) 1.29 2030-11-06 Common Stock 26515 D Employee Stock Option (Right to Buy) 3.47 2032-03-01 Common Stock 26515 D Employee Stock Option (Right to Buy) 3.47 2032-03-01 Common Stock 26515 D The Convertible Preferred Stock may be converted at any time, at the Holder's election and there is no expiration. The conversion ratio is 3.7954 shares of Common Stock for each share of Series C Preferred Stock. The entire option has become fully-vested and may be exercised at any time at the Holder's election. The option becomes fully-vested and may be exercised at any time at Holder's election upon the achievement of performance-based criteria related to approval by the U.S. Food and Drug Administration of certain of the Company's products. As of the date of this filing, the performance-based criteria have not been satisfied. The option becomes fully-vested and may be exercised at any time at Holder's election upon the achievement of performance-based criteria related to approval by the U.S. Food and Drug Administration of certain of the Company's products. As of the date of this filing, the performance-based criteria have not been satisfied. The option becomes fully-vested and may be exercised at any time at Holder's election upon the Company having one calendar quarter of positive EBITDA. As of the date of this filing, the performance-based criteria have not been satisfied The option becomes fully-vested and may be exercised at any time at Holder's election upon the sale of a specified number of units of certain of the Company's products. As of the date of this filing, the performance-based criteria have not been satisfied. The option becomes fully-vested and may be exercised at any time at Holder's election upon the achievement of performance-based criteria related to approval by the U.S. Food and Drug Administration of certain of the Company's products. As of the date of this filing, the performance-based criteria have not been satisfied. The option becomes fully-vested and may be exercised at any time at Holder's election upon the Company having one calendar quarter of positive EBITDA. As of the date of this filing, the performance-based criteria have not been satisfied. The option becomes fully-vested and may be exercised at any time at Holder's election upon the sale of a specified number of units of certain of the Company's products. As of the date of this filing, the performance-based criteria have not been satisfied. The option becomes fully-vested and may be exercised at any time at Holder's election upon the achievement of performance-based criteria related to approval by the U.S. Food and Drug Administration of certain of the Company's products. As of the date of this filing, the performance-based criteria have not been satisfied. The entire option has become fully-vested and may be exercised at any time at the Holder's election. The option becomes fully-vested and may be exercised at any time at Holder's election upon the achievement of performance-based criteria related to approval by the U.S. Food and Drug Administration of certain of the Company's products. As of the date of this filing, the performance-based criteria have not been satisfied. The option becomes fully-vested and may be exercised at any time at Holder's election upon the receipt of at least $15 million pursuant to the Company's sale of debt or equity securities or borrowings from any debt financing source. As of the date of this filing, the performance-based criteria have not been satisfied. The entire option has become fully-vested and may be exercised at any time at the Holder's election. The option becomes fully-vested and may be exercised at any time at Holder's election upon the achievement of performance-based criteria related to approval by the U.S. Food and Drug Administration of certain of the Company's products. As of the date of this filing, the performance-based criteria have not been satisfied. Chairman of the Board, President and Chief Executive Officer /s/ Andrew Simpson 2022-06-14