MAUNA KEA TECHNOLOGIES ANNOUNCES FURTHER STRENGTHENING OF FINANCIAL CONDITION BY SECURING €4M OF NON-DILUTIVE LOANS GUARANTEED BY THE FRENCH STATE (PGE)

Paris and Boston, July 17, 2020 - 8.00 AM CEST - Mauna Kea Technologies (Euronext: MKEA) inventor of Cellvizio®, the multidisciplinary probe-basedand needle-basedconfocal laser endomicroscopy (pCLE/nCLE) platform, announced that it has received financing approvals from BNP Paribas and Bpifrance for a total of €4 million in non-dilutivefinancing in the form of French state-guaranteedloans (Prêts Garantis par l'Etat, or PGE in France). BNP Paribas and Bpifrance will each provide loans of €2 million with fixed interest rates of 0.25% and 1.75% per annum, respectively. 90% of the bank loans will be guaranteed by the French Government under the PGE state-guaranteedloan scheme (ministerial orders of March 23 and April 17, 2020 awarding the state guarantee to credit institutions and finance companies, implementing Article 6 of Law no. 2020-289of March 23, 2020). Each loan has an initial term of 1 year. At the end of the first year, repayment of the principal amount due may be further deferred, at the option of the Company, over a maximum of 5 years.

"We are pleased to announce approvals for loans from BNP Paribas and Bpifrance totaling €4 million as part of the PGE state-guaranteedloan scheme by the French Government," said Robert L. Gershon, Chief Executive Officer of Mauna Kea Technologies. "This non-dilutive capital infusion, combined with the drawdown of the €6 million second tranche of our financing agreement with the European Investment Bank announced in July, further strengthens our financial condition and will support the execution of our strategic growth initiatives."

About Mauna Kea Technologies

Mauna Kea Technologies is a global medical device company focused on eliminating uncertainties related to the diagnosis and treatment of cancer and other diseases thanks to real time in vivo microscopic visualization. The Company's flagship product, Cellvizio®, has received clearance/approval in a wide range of applications in more than 40 countries, including the United States, Europe, Japan, China, and Mexico. For more information on Mauna Kea Technologies, visit www.maunakeatech.com

Contacts

Mauna Kea Technologies

United States

France and Europe

Westwicke, an ICR Company

NewCap - Investor Relations

Mike Piccinino, CFA

Thomas Grojean

+1 443-213-0500

+33 (0)1 44 71 94 94

maunakea@newcap.eu

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Disclaimer

This press release contains forward-looking statements concerning Mauna Kea Technologies and its activities. Such forward looking statements are based on assumptions that Mauna Kea Technologies considers to be reasonable. However, there can be no assurance that the anticipated events contained in such forward-looking statements will occur. Forward- looking statements are subject to numerous risks and uncertainties including the risks set forth in the registration document of Mauna Kea Technologies registered by the French Financial Markets Authority (Autorité des marchés financiers (AMF)) on July 12, 2019 under number D.19-0683 and available on the Company's website (www.maunakeatech.com), and to the development of economic situation, financial markets, and the markets in which Mauna Kea Technologies operates. The forward-looking statements contained in this release are also subject to risks unknown to Mauna Kea Technologies or that Mauna Kea Technologies does not consider material at this time. The realization of all or part of these risks could lead to actual results, financial conditions, performances or achievements by Mauna Kea Technologies that differ significantly from the results, financial conditions, performances or achievements expressed in such forward-looking statements. This press release and the information it contains do not constitute an offer to sell or to subscribe for, or a solicitation of an order to purchase or subscribe for, Mauna Kea Technologies shares in any country.

This press release and the information contained herein do not constitute an offer to subscribe or purchase, or the solicitation of an order to purchase or subscribe, any securities of Mauna Kea Technologies in the United States or in any other jurisdiction in which the transaction may be subject to restrictions.

This press release is a promotional communication and is not a prospectus within the meaning of Directive 2003/71/EC of the European Parliament and of the Council, as amended, as amended. The distribution, publication or distribution of this press release in certain countries may be subject to restrictions under applicable laws and regulations. Accordingly, persons in such countries in which this press release is issued, published or distributed must inform themselves of and comply with such laws and regulations.

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Mauna Kea Technologies SA published this content on 17 July 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 20 July 2020 09:20:00 UTC