Sharps Technology Signs Asset Purchase Agreement to Acquire InjectEZ Specialty Copolymer Syringe Manufacturing Facility and a 10-Year Purchase Agreement for Over $400 Million from Nephron Pharmaceuticals $50 Million acqu

Technology Signs Asset Purchase Agreement to Acquire InjectEZ Specialty Copolymer Syringe Manufacturing Facility and

a 10-Year Purchase Agreement for Over $400 Million from Nephron

Million acquisition of InjectEZ strengthens manufacturing capacity and establishes Sharps' leading position in the specialized

copolymer prefillable syringe system industry

term sheet providing for up to $75 Million in debt financing to be used for the acquisition

commits to minimum orders of over $400 Million over 10 years; $30 Million in revenue the first year and subsequent minimum orders totaling

over $45 Million in annual revenue through December of 2033

YORK - West Columbia, South Carolina - (Date) Sharps Technology, Inc. (the "Company") (NASDAQ: "STSS"

and "STSSW"), an innovative medical device and pharmaceutical packaging company offering patented, best-in-class syringe

products, and Nephron Pharmaceuticals Corporation, ("Nephron") a privately owned U.S. leader in contract manufacturing

and 503B outsourcing, announce the signing of an Asset Purchase Agreement (APA) to acquire Nephron's

InjectEZ specialty syringe manufacturing facility. This includes a 10-Year purchase agreement

for over $400 Million from Nephron Pharmaceuticals for next-generation copolymer prefillable

syringe systems. Product delivery is scheduled for the first quarter of 2024 with revenue totaling approximately $30 Million for the

first twelve months of production and subsequent revenue of over $45 Million per year beginning in 2025, and continuing through 2033.

transactions represent a transformative event for the Company," commented Soren Christiansen, Board Chairman of Sharps Technology.

"Recruiting Robert Hayes as our CEO two years ago was a substantial achievement for Sharps Technology and its shareholders. Robert

has built a strong team, and together they worked through a successful, multi-month financing process that resulted in selecting a funding

partner that is poised to provide up to $75 Million in debt financing to be used for the transaction. The Company will now have manufacturing

operations in Europe and the United States and this deal will generate significant short and long-term revenue. This transaction enables

Sharps to enter the highly profitable copolymer prefillable syringe segment, which has the highest growth in the syringe market place.

The Company is well positioned for future growth and providing meaningful benefits to both patients and shareholders."

would like to thank Bill and Lou Kennedy, and the Nephron team, for their commitment since the inception of the manufacturing and research

partnership that was signed in 2022," commented Robert Hayes, Sharps Technology CEO. "With this landmark purchase agreement

in place for our copolymer prefillable syringes, we will accelerate the realization of our shared goals with the Kennedys, transition

the Company to revenue, and propel Sharps into a new phase of growth and sustainability. At the forefront of our growth trajectory are

our copolymer based prefillable syringe systems, a sector that is experiencing escalating market demand and is poised to shape the future

of Sharps. We are excited about the opportunities that lie ahead as we strengthen our relationship with Nephron and will update our shareholders

as the transaction advances."

a result of the propsed acquisition of InjectEZ, Nephron has agreed to a 10-year Purchase Agreement for Sharps' next-generation

copolymer prefillable 10 mL and 50 mL syringes with minimum orders for over $400 Million over the period. Product delivery is scheduled

for the first quarter of 2024 with revenue totaling approximately $30 Million for the first twelve months of production, with subsequent

revenue of over $45 Million per year beginning in 2025, and continuing through 2033.

$50 Million acquisition of the InjectEZ enables Sharps to commercialize innovative copolymer prefillable syringe systems to the healthcare

market beginning with Nephron Pharmaceuticals as the first client. InjectEZ is a new state-of-the-art facility with fully automated syringe

system manufacturing, packaging, and distribution in West Columbia, South Carolina. This advanced facility is the only fully dedicated,

specialized COC (cyclic olefin copolymer) prefillable syringe manufacturing plant in North America and was designed with innovative manufacturing

capabilities to produce specialty syringe systems. The agreement will leverage synergies from both companies and enable Sharps to further

support Nephron Pharmaceuticals in their growth strategy for fill-finish products.

finance the acquisition, Sharps retained Lampert Capital Advisors, a provider of complex financing solutions to publicly traded, privately

held, and entrepreneurially backed companies. Lampert is engaged in a financing process that has resulted, to date, in a signed term

sheet with a leading middle-market lender for up to $75 Million in debt financing to be used for the acquisition of InjectEZ,

production line enhancements, working capital, transaction fees and expenses, and general corporate purposes.

terms of the APA and purchase agreement are included in the Company's Current Report on Form 8-K that was filed with the SEC on

September 26, 2023. The acquisition is expected to close within 60 days upon the satisfaction of customary closing conditions.

The Company's ability to close the transaction depends on its ability to obtain committed financing for debt and preferred

financing to acquire InjectEZ's assets. There can be no guarantee that binding agreements will be entered into or sufficient capital

will be raised to fund the acquisition and performance under the APA and purchase agreement. The Company will provide customary disclosure

for the closing of the transaction through a press release and Form 8-K filing.

Technology is an innovative medical device and pharmaceutical packaging company offering patented, best-in-class smart-safety syringe

products to the healthcare industry. The Company's product lines focus on providing ultra-low waste capabilities, that incorporate

syringe technologies that use both passive and active safety features. Sharps also offers products that are designed with specialized

copolymer technology to support the prefillable syringe market segment. The Company has a manufacturing facility in Hungary and has partnered

with Nephron Pharmaceuticals to expand its manufacturing capacity in the U.S. For additional information, please visit www.sharpstechnology.com

press release contains "forward-looking statements". Forward-looking statements reflect our current view about future

events. When used in this press release, the words "anticipate," "believe," "estimate,"

"expect," "future," "intend," "plan," "poised" or the negative of these

terms and similar expressions, as they relate to us or our management, identify forward-looking statements. Such statements,

include, but are not limited to, statements contained in this press release relating to our business strategy, our future operating

results and liquidity, and capital resources outlook. Forward-looking statements are based on our current expectations and

assumptions regarding our business, the economy, and other future conditions. Because forward-looking statements relate to the

future, they are subject to inherent uncertainties, risks, and changes in circumstances that are difficult to predict. Our actual

results may differ materially from those contemplated by the forward-looking statements. They are neither statements of historical

fact nor guarantees of assurance of future performance. We caution you therefore against relying on any of these forward-looking

statements. Important factors that could cause actual results to differ materially from those in the forward-looking statements

include, without limitation, our ability to raise capital to fund continuing operations; our ability to protect our intellectual

property rights; the impact of any infringement actions or other litigation brought against us; competition from other providers and

products; our ability to develop and commercialize products and services; changes in government regulation; our ability to complete

capital raising transactions; and other factors relating to our industry, our operations and results of operations. Actual results

may differ significantly from those anticipated, believed, estimated, expected, intended, or planned. Factors or events that could

cause our actual results to differ may emerge from time to time, and it is not possible for us to predict all of them. We cannot

guarantee future results, levels of activity, performance, or achievements. The Company assumes no obligation to update any

forward-looking statements in order to reflect any event or circumstance that may arise after the date of this release.

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