Mauna Kea Technologies

Earnings Release • Jan 6, 2021

MAUNA KEA TECHNOLOGIES REPORTS PRELIMINARY FOURTH QUARTER 2020 SALES

Preliminary Fourth Quarter Total Sales Increase 30% to 36% year-over-year; U.S. Sales up 34% to 38% year-over-year and up 20% to 23% quarter-over-quarter.

Paris and Boston, January 6, 2021 – 5.45 PM CET – Mauna Kea Technologies (Euronext: MKEA) inventor of Cellvizio®, the multidisciplinary probe and needle-based confocal laser endomicroscopy (p/nCLE) platform, today announced preliminary sales for the fourth quarter of 2020. Given the significant uncertainties associated with pace of recovery from the COVID-19 pandemic, the Company has elected to provide, in this context, specific information on expected revenue trends for the fourth quarter of 2020. Preliminary sales figures for the fourth quarter of 2020 are unaudited.

Preliminary Sales Summary for Fourth Quarter 2020 (Unaudited figures)

• Preliminary sales for the fourth quarter of 2020 are expected in a range of €2.2 million to €2.3 million, representing growth of approximately 30% to 36% year-over-year
  • o Preliminary Q4'20 Sales by Geography:
    • U.S. sales are expected to increase approximately 34% to 38% year-over-year
    • Rest of World (ROW) sales are expected to increase approximately 26% to 33% year-overyear
  • o Preliminary Q4'20 Sales by Category:
    • Consumables sales are expected to decrease approximately 9% to 14% year-over-year
    • Systems sales are expected to increase approximately 177% to 185% year-over-year
    • Services sales are expected to decrease approximately 9% to 13% year-over-year

"Our fourth quarter preliminary sales performance reflects strong execution of our strategy, continued improvement in our underlying business and procedure trends and measured improvement in the global capital equipment environment," stated Robert L. Gershon, Chief Executive Officer of Mauna Kea Technologies. "Fourth quarter preliminary sales increased 30% to 36% year-over-year driven by an increase of 34% to 38% year-over-year in sales to U.S. customers and an increase of 26% to 33% year-over-year in sales to Rest-of-World customers. Fourth quarter sales growth was driven primarily by a continuation in the strong new system adoption trends we experienced during the third quarter and believe the strong system sales growth in the fourth quarter reflects both the improving health of the global capital equipment environment, and, further evidence that our new U.S. targeting strategy is welldefined. We are encouraged by the indications this quarter that the global capital equipment environment has continued to improve in recent months and we look forward to improving consumable demand as the global recovery continues to progress and customers around the world return to normal case-loads."

Next Sales Results Announcement:

Fourth quarter of 2020 sales – January 21, 2021 after market close

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Financial calendar

Please note that the 2021 financial calendar is available on the Mauna Kea Technologies website: https://www.maunakeatech.com/en/investors/financial-calendar

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 for a wide range of applications in the United States and more than 40 countries around the World. For more information on Mauna Kea Technologies, visit www.maunakeatech.com

United States

Mike Piccinino, CFA Westwicke, an ICR Company 443-213-0500

France and Europe NewCap - Investor Relations Thomas Grojean +33 (0)1 44 71 94 94 maunakea@newcap.eu

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 Universal Registration Document of Mauna Kea Technologies registered by the French Financial Markets Authority (Autorité des marchés financiers (AMF)) on August 7, 2020 under number 926346434_20200807 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.