Modular Medical Announces Proposed Public Offering San Diego

Modular Medical Announces Proposed Public Offering

San Diego, February 15, 2024 -- Modular Medical,

Inc. (Nasdaq: MODD) ("Modular Medical"), a development stage insulin delivery technology company seeking to launch the next

generation of easy to use and affordable insulin pump technology, today announced that it has commenced an underwritten public offering

(the "offering") of shares of its common stock (or pre-funded warrants to purchase shares of its common stock in lieu thereof).

Modular Medical also intends to grant the underwriter a 30-day option to purchase up to an additional 15% of the aggregate number of shares

of its common stock (or pre-funded warrants). The offering is subject to market and other conditions, and there can be no assurance as

to whether or when the offering may be completed or as to the actual size or terms of the offering. All of the shares of common stock

and pre-funded warrants to be sold in the proposed offering will be sold by Modular Medical.

Titan Partners Group, a division of American Capital

Partners, is acting as sole book-running manager for the proposed offering.

The offering is being made pursuant to an effective

"shelf" registration statement on Form S-3 (File No. 333-264193) previously filed with the Securities and Exchange Commission

(the "SEC") on April 8, 2022, as amended on April 15, 2022, and declared effective by the SEC on April 19, 2022. The securities

may be offered only by means of a prospectus. A preliminary prospectus supplement and the accompanying prospectus relating to and describing

the terms of the offering have been filed with the SEC. Electronic copies of the preliminary prospectus and, when available, copies of

the final prospectus supplement and the accompanying prospectus relating to the offering may be obtained by visiting the SEC's website

at www.sec.gov or by contacting Titan Partners Group LLC, a division of American Capital Partners, LLC, 4 World Trade Center, 29th

Floor, New York, New York 10007, by phone at (929) 833-1246 or by email at info@titanpartnersgrp.com.

This press release does not constitute an offer

to sell or the solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or other

jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities

laws of any such state or jurisdiction.

About Modular Medical

Modular Medical, Inc. (NASDAQ: MODD) is a development-stage

medical device company that intends to launch the next generation of insulin delivery technology. Using its patented technologies, the

company seeks to eliminate the tradeoff between complexity and efficacy, thereby making top quality insulin delivery both affordable and

simple to learn. Our mission is to improve access to the highest standard of glycemic control for people with diabetes taking it beyond

"superusers" and providing "diabetes care for the rest of us."

Modular Medical was founded by Paul DiPerna, a

seasoned medical device professional and microfluidics engineer. Prior to founding Modular Medical, Mr. DiPerna was the founder (in 2005)

of Tandem Diabetes and invented and designed its t:slim insulin pump. More information is available at https://modular-medical.com.

Forward-Looking Statements

This press release contains forward-looking statements that are made

pursuant to the Safe Harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements can be identified

through the use of words such as may," "might," "will," "intend," "should," "could,"

"can," "would," "continue," "expect," "believe," "anticipate," "estimate,"

"predict," "outlook," "potential," "plan," "seek," and similar expressions and variations

or the negatives of these terms or other comparable terminology. Such forward-looking statements are subject to risks, trends, and uncertainties

that could cause actual results to be materially different from the forward-looking statements contained in this press release, including

whether or when the offering may be completed. These factors include, but are not limited to, whether Modular Medical can successfully

develop its proprietary technologies, whether the market will accept Modular Medical's products and services, whether the Company will

be issued additional patents for its proprietary technology, Modular Medical's ability to obtain regulatory clearance for its MODD1 product,

anticipated consumer demand for its products, whether Modular Medical can successfully manufacture its products at high volumes, general

economic, industry or political conditions in the United States or internationally as well as other risk factors and business considerations

described in Modular Medical's SEC filings, including its annual report on Form 10-K. Any forward-looking statements in this press release

should be evaluated in light of these important risk factors. In addition, any forward-looking statements included in this press release

represent Modular Medical's views only as of the date of its publication and should not be relied upon as representing its views as of

any subsequent date. Modular Medical assumes no obligation to update these forward-looking statements, except as required by law.

Chief Executive Officer

Modular Medical, Inc.