File: '\\swfile\EmailIn\20260320 141043 Attachment ASEP - News Release Debt Settlement_032026_FINAL.docx'

Asep Medical Holdings Inc.

2

FOR IMMEDIATE RELEASE

Asep Medical Announces $1,056,872 Debt Settlement

VANCOUVER, BC, March 20, 2026 - Asep Medical Holdings Inc. ("Asep" or the "Company") (CSE: ASEP) (OTCQB: SEPSF) (FSE: JJ8) intends to settle debt (the "Debt Settlement"), on March 26, 2026, in the aggregate amount of $1,056,872 owed by the Company to certain creditors of the Company in exchange for 4,489,614 common shares (each, a "Settlement Share") at a price of $0.24 per Settlement Share. The debt to be settled relates to fees payable to certain creditors, directors, officers and advisors of the Company.

The proposed Debt Settlement is a "related party transaction" within the meaning of Multilateral Instrument 61-101 Protection of Minority Security Holders in Special Transactions ("MI 61-101"). The Debt Settlement is exempt from the valuation requirement of MI 61-101 by virtue of the exemptions contained in section 5.5(b) of MI 61-101 as the common shares are not listed on a specified market and from the minority shareholder approval requirements of MI 61-101 by virtue of the exemption contained in section 5.7(1)(a) of MI 61-101 in that the fair market value of the Debt Settlement will not exceed 25% of the Company's market capitalization. As the material change report disclosing the Debt Settlement is being filed less than 21 days before the transaction, there is a requirement under MI 61-101 to explain why the shorter period was reasonable or necessary in the circumstances. In the view of the Company, it is necessary to immediately close the Debt Settlement and therefore, such shorter period is reasonable and necessary in the circumstances to improve the Company's financial position.

ABOUT ASEP MEDICAL HOLDINGS INC.

Asep Medical is a standout biotechnology research and development company based in Victoria, BC, Canada. The Company possesses a valuable portfolio of global patents for innovative diagnostic and therapeutic medical technologies. These technologies were developed over the past decade at the University of British Columbia under the guidance of Dr. Robert E. W. Hancock, one of the world's foremost microbiologists. Asep holds a controlling interest in two private subsidiary companies - Sepset Biosciences (Asep's leading product, a sepsis diagnostic technology) and ABT Innovations (specializing in anti-biofilm technology). As the Company's patented innovations address unmet medical needs, it presents a unique investment opportunity for both retail and institutional investors.

The CSE has not reviewed and does not accept responsibility for the accuracy or adequacy of this release.

FOR MORE INFORMATION, PLEASE CONTACT -

Chris Dallin, Marketing Director

ASEP Medical Holdings Inc.

E. chris@asepmedical.com

T. +1 (604) 362-3654

FORWARD-LOOKING STATEMENTS

This news release contains certain "forward-looking statements" within the meaning of such statements under applicable securities law. Forward-looking statements are frequently characterized by words such as "anticipates," "plans," "continues," "expects," "projects," "intends," "believes," "estimates," "may," "will," "potential," "proposed," "positioned" and other similar words, or statements that certain events or conditions "may" or "will" occur. These statements include, but are not limited to, the successful execution of the Company's business plan, the development, testing, and commercialization of its sepsis diagnostic test (Sepset), and other statements regarding the Company's proposed business plans and technologies. Various assumptions were used in drawing conclusions or making the predictions contained in the forward-looking statements throughout this news release. Forward-looking statements are based on the opinions and estimates of management at the date the statements are made and are subject to a variety of risks, including the risk that the Company's products may not perform as expected, may not receive regulatory approvals, or may not generate revenue as anticipated. Additional risk actors are identified in the Asep Medical Holdings Inc. prospectus dated November 9, 2021, and in the Company's management discussion and analysis, available for review under the Company's profile at www.sedarplus.ca. Asep Medical Holdings Inc. undertakes no obligation to update or revise any forward-looking statements, except as

required by applicable law.