Grant of Options and Restricted Stock Units

Spectral MD Holdings, Ltd

(“Spectral MD” or the “Company”)

Grant of Options and Restricted Stock Units

LONDON, U.K. AND DALLAS, TX, U.S. – Spectral MD Holdings, Ltd. (AIM: SMD), a predictive analytics company with proprietary artificial intelligence (AI) algorithms and optical technology for faster and more accurate treatment decisions in wound care, announces that it has granted options ("Options") over a total of 1,301,000 common stock of US$0.001 each in the Company ("Common Stock") to various employees, including a Director and Persons Discharging Managerial Responsibilities ("PDMR") as detailed below. The Options are granted under the 2018* and 2022** Long Term Incentive Plans (“LTIP”), vest over a three-year period from the date of grant, expire after 10 years and have an exercise price of 35 pence.

In addition, the Company announces that it has granted Restricted Stock Units (“RSUs”) over 600,000 Common Stock to certain Non-Executive Directors. The RSUs are granted under the 2022 Long Term Incentive Plan, vest over a three-year period from the date of grant, are not subject to performance conditions and have no expiration date. Details are as follows:

*Please refer to the Company’s Admission Document for further information on the terms of the 2018 LTIP

**Please refer to the Company’s announcement dated 1 September 2022 for further information on the terms of the 2022 LTIP

Market Abuse Regulation (MAR) Disclosure

The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014 as it forms part of UK domestic law by virtue of the European Union (Withdrawal) Act 2018 ('MAR'). Upon the publication of this announcement via Regulatory Information Service ('RIS'), this inside information is now considered to be in the public domain.