Simavita Limited ('Simavita' or the 'Company') (ASX: SVA) today clarified a condition contained in the Notice of Meeting dated October 30, 2020 relating to tomorrow's Special Meeting.

The Notice of Meeting, which was issued to all CDI holder on November 5, 2020 contained a reference to a pre-condition of the Company raising $1 million to fund the proposed Capital Reduction. Simavita advises that the $1 million capital will be raised prior to the closing of the Capital Reduction period, on December 31, 2020. The payment date under the Capital Reduction is January 7, 2021. Copies of the Notice and Management Information Circular (collectively, the 'Meeting Materials') are also available on SEDAR and on the Company's website atwww.simavita.com. Voting for the meeting closed at 11am Australian Eastern Daylight Time (AEDT) on November 30, 2020 however CDI holders are still able to lodge a CDI Retention form with Computershare up to the closing date for the Capital reduction which is 5pm (AEDT) on December 31, 2020. The record date for the Capital Reduction is December 8, 2020.

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About Simavita

Simavita (ASX: SVA) is a MedTech Company focused on the development of smart, wearable and disposable platform technologies for the health care market. Our key platform Smartz (formerly AlertPLUS) is a highly disruptive technology focused on transforming a traditional 'dumb' diaper into a smart device to help parents and carers of both infants and adults. With the support of our CDI holders, customers and employees, Simavita is absolutely committed to the business at hand; creating a commercially successful and growing corporation. www.simavita.com

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