Medigus Signs a Collaboration Agreement with L1 Systems for the Commercialization of COVID-19 Medical Products and Solutions

OMER, Israel, April 27, 2020 - Medigus Ltd. (NASDAQ:MDGS) (TASE:MDGS), a technology company developing minimally invasive tools
and an innovator in direct visualization technology, today announced the signing of a collaboration agreement with L-1 Systems Ltd. for the joint
commercialization of various COVID-19 related products and solutions to governmental agencies and institutional healthcare organizations. Pursuant
to the terms of the agreement, in consideration for jointly marketing the products with L1 Systems and providing working capital financing, Medigus
shall be entitled to proceeds from sales based on a profit share model based on the scope of financing provided by Medigus, 50% of the profits in the
case Medigus introduces the products, and in all other cases, of 5% of the profits.

Medigus and L1 Systems have entered a pilot arrangement with a prospective customer for an initial order, which conditioned upon such customer’s
satisfaction, may lead to larger purchase orders.

The agreement marks the second collaboration between Medigus and L1 Systems following the previously disclosed agreement for the
commercialization and licensing of the MUSE™ system in Latin America. The collaboration seeks to capitalize on the synergies derived from L1
System’s strong supply chain connections and Medigus’ medical experience and network.