MEMPHASYS LIMITED. — Capital/Financing Update 2026

Mar 19, 2026

==> picture [195 x 46] intentionally omitted <==

ASX Release ASX Code: MEM

20 March 2026

Memphasys Maintains Uninterrupted Middle East Operations; Secures New Orders and Expands into new MENA markets

Highlights:

• Middle East commercial operations continue uninterrupted, with no impact to distribution, customer engagement or supply chains despite ongoing regional conflict.

• Qatar operations remain fully operational, with Hamad Medical Corporation (HMC) continuing routine clinical use of the Felix™ System and ongoing cartridge consumption.

• New commercial orders secured from customers in the United Arab Emirates and Iraq, demonstrating continued regional demand and commercial momentum.

• Egypt reseller partnership confirmed, progressing through regulatory approval pathway, with initial trial orders expected next quarter as part of market entry strategy.

• Turkey progressing through regulatory approval process, with first commercial orders anticipated next quarter.

• Memphasys and distribution partner ITL aligned on flexible supply chain logistics, with capacity to deliver directly into all contracted MENA markets.

• Regional commercial strategy remains on track, underpinned by diversified customer base across multiple countries, reducing reliance on any single market.

Memphasys Limited (ASX: MEM) (“Memphasys” or “the Company”) advises that its commercial operations across the Middle East and North Africa (MENA) region continue to operate unaffected, despite ongoing geopolitical instability in parts of the region, while expanding its commercial footprint across additional countries in the region with its partner ITL. Following a review of operations, distribution networks and customer engagement across its key markets, the Company confirms that all commercial activities, logistics and partner operations are continuing as normal, with no material disruptions identified.

Importantly, current demand and order activity across the region remains consistent with the Company’s expectations and ongoing commercial rollout.

Qatar – Established Commercial Operations Continue

Operations in Qatar remain fully operational and unaffected, with Hamad Medical Corporation (HMC) continuing to utilise the Felix™ System as part of its routine assisted reproductive technology (ART) procedures.

HMC, as a leading institutional customer in the region, continues to generate consistent cartridge usage, reinforcing the recurring revenue profile associated with Felix™ adoption. The continuation of clinical use and procurement activity highlights both the embedded nature of the technology within clinical workflows and the resilience of demand in the IVF sector.

Memphasys maintains ongoing engagement with HMC and local stakeholders, with no interruption to operations, logistics or customer support.

This ongoing utilisation provides a stable foundation of recurring demand within the region, supporting broader commercial expansion.

Memphasys Limited Contact Details E info@memphasys.com Level 1, 34-36 Richmond Road P +612 8415 7300 W memphasys.com Homebush West, NSW 2140 ABN 33 120 047 556

Egypt and Turkey - Advancing Near-Term Growth Markets

Memphasys continues to make measurable progress in advancing regulatory approvals and commercial entry into two key strategic markets:

Egypt

Egypt represents the largest and one of the fastest-growing IVF markets within the MENA region. Memphasys and partner ITL have confirmed a reseller partnership in-country and are progressing through the regulatory registration process, which is advancing as planned with no issues identified to date.

The Company also notes strong interest in the Felix™ System following presentations by Memphasys at an IVF conference in Cairo earlier this year, reinforcing the market opportunity.

Initial trial orders are expected in the next quarter as part of a structured market entry and clinic onboarding program. These trial orders are expected to form the foundation for a broader commercial rollout, consistent with the Company’s strategy of building demand at the clinic level prior to scaling.

Turkey

In Turkey, regulatory processes are also advancing and are on track, with initial commercial orders anticipated next quarter, subject to completion of approvals.

Turkey represents an attractive expansion market given its established fertility sector and strategic geographic position, providing an additional pathway for Felix™ adoption across both domestic and adjacent markets.

UAE and Iraq – New Orders Reflect Ongoing Demand

Memphasys confirms that new commercial orders have been received from customers in both the United Arab Emirates and Iraq.

These orders reflect:

• Continued clinic-level demand for the Felix™ System

• Expansion of Memphasys’ commercial footprint beyond initial anchor markets

• The effectiveness of the Company’s direct engagement strategy in driving purchasing activity

These orders are initial in nature and form part of the Company’s broader strategy of building recurring cartridge demand through progressive clinic onboarding.

Importantly, order flow from multiple jurisdictions demonstrates that demand is broad-based across the region, rather than concentrated in a single market, supporting a more resilient and scalable revenue profile.

Supply Chain and Distribution - Continuity and Flexibility

Memphasys continues to work closely with its exclusive regional distribution partner, International Technical Legacy (ITL), to ensure uninterrupted supply of the Felix™ System across all contracted territories.

E info@memphasys.com W memphasys.com ABN 33 120 047 556

Contact Details P +612 8415 7300

Memphasys Limited Level 1, 34-36 Richmond Road Homebush West, NSW 2140

The Company confirms that:

• Existing logistics channels remain fully operational

• No delays to deliveries or fulfilment timelines have been experienced to date

• Inventory planning and supply coordination remain aligned with forecast demand

• Product can be shipped directly into any contracted country, providing flexibility in response to changing regional conditions

This distribution capability, combined with Memphasys’ direct-sales engagement model, provides a robust and adaptable supply framework, supporting continued commercial execution across multiple jurisdictions.

Commercial Strategy - Diversified and Resilient Execution

Memphasys’ Middle East strategy-focused on direct clinic engagement, distributor collaboration and recurring cartridge revenue-continues to execute as planned.

The Company’s commercial model is characterised by:

• Clinic-level demand generation, rather than reliance on distributor-led push

• A diversified customer base across multiple countries

• Multiple active and emerging markets at different stages of adoption

This approach reduces reliance on any single geography and supports greater resilience in the face of regional uncertainty.

Recent developments, including ongoing institutional usage, new orders and expanding regulatory progress, demonstrate that the strategy is delivering broad-based traction across the region.

Marjan Mikel, Chair of the Commercialisation Committee, said:

"Our on-the-ground commercial model is designed to build demand at the clinic level across multiple markets, and this update reinforces the resilience of that approach. We are seeing continued utilisation in established markets like Qatar, alongside new orders and advancing regulatory pathways in additional countries."

"Importantly, our exposure is diversified across the region, and our supply chain and distribution framework remains fully operational. This positions us well to continue executing our commercial rollout strategy, despite the current geopolitical backdrop."

Outlook

Memphasys remains confident in the continued rollout of the Felix™ System across the MENA region and broader international markets.

The Company will continue to update shareholders on:

• Additional commercial orders

• Regulatory milestones across new markets

• • Expansion of clinic-level adoption

At this stage, Memphasys does not expect the current geopolitical environment to have any material impact on its operations, supply chain or commercial trajectory .

E info@memphasys.com W memphasys.com ABN 33 120 047 556

Contact Details P +612 8415 7300

Memphasys Limited Level 1, 34-36 Richmond Road Homebush West, NSW 2140

Authorised for release by the Board of Memphasys Limited.

ENDS

For further information, please contact:

David Tasker Managing Director Chapter One Advisors Tel: +61 433 112 936 E: dtasker@chapteroneadvisors.com.au

About Memphasys

Memphasys Limited (ASX: MEM) is an Australian-based reproductive biotechnology company commercialising the Felix™ System, a patented bio separation technology that isolates the most viable sperm cells for human assisted reproduction.

By combining electrophoresis and size-exclusion membranes, Felix™ delivers a fast, gentle and standardised sperm selection process that enhances sperm quality and reduces laboratory time. The system replaces traditional centrifugation, which can cause cellular stress and DNA damage, offering clinicians a superior, repeatable alternative.

Memphasys’ commercial strategy focuses on building contracted sales through direct and distribution-led channels, scaling production to improve margins, and establishing Felix™ as a new global standard in sperm preparation for ART procedures.

Website: www.memphasys.com

The Felix™ System is a registered trademark of Memphasys Limited. All rights reserved.

E info@memphasys.com W memphasys.com ABN 33 120 047 556

Contact Details P +612 8415 7300

Memphasys Limited Level 1, 34-36 Richmond Road Homebush West, NSW 2140