Mr. Chris Seto reports

SPECTRAL MEDICAL ANNOUNCES CFO DEPARTURE

Blair McInnis has provided notice of his resignation as chief financial officer of Spectral Medical Inc., which is effective immediately, to pursue a new opportunity. Mr. McInnis will assist the company to ensure a smooth transition.

"I would like to thank the Spectral board and my colleagues for the opportunity to serve as the company's CFO," said Mr. McInnis. "It has been a privilege to be part of the exciting journey in my tenure at Spectral. I am confident that I will be leaving the company in good hands with a solid foundation to continue the execution of the Tigris trial."

"We would like to thank Blair for his leadership and many valuable contributions to our recent successes and wish him the very best in his future endeavours," said Chris Seto, president and chief executive officer of Spectral.

Spectral will conduct a formal search process in due course to choose a new chief financial officer. In the interim, Mr. Seto will assume the responsibilities of the chief financial officer office with the support of the vice-president of finance.

Amended advance notice bylaw

Spectral also announced that its board of directors has amended and updated its advance notice bylaw that establishes a framework for the advance notice of nominations of directors of Spectral by shareholders. Among other things, the advance notice bylaw establishes deadlines by which shareholders must notify Spectral of nominations of directors prior to a meeting of Spectral shareholders and sets forth the information that must be included with such a nomination and the method by which a nomination must be delivered to Spectral.

The amended and updated advance notice bylaw is effective immediately and will be placed before shareholders for approval and ratification at the next annual and special meeting of shareholders expected to be held in the second quarter of 2024.

The full text of the advance notice bylaw is available under the company's profile on SEDAR+.

About Spectral Medical Inc.

Spectral is a phase 3 company seeking U.S. Food and Drug Administration approval for its unique product for the treatment of patients with septic shock, Toraymyxin (PMX). PMX is a therapeutic hemoperfusion device that removes endotoxin, which can cause sepsis, from the bloodstream and is guided by the company's endotoxin activity assay (EAA), the only FDA-cleared diagnostic for the risk of developing sepsis.

PMX is approved for therapeutic use in Japan and Europe, and has been used safely and effectively on more than 340,000 patients to date. In March, 2009, Spectral obtained the exclusive development and commercial rights in the United States for PMX, and in November, 2010, signed an exclusive distribution agreement for this product in Canada. In July, 2022, the U.S. FDA granted breakthrough device designation for PMX for the treatment of endotoxic septic shock. Approximately 330,000 patients are diagnosed with septic shock in North America each year.

We seek Safe Harbor.