Mr. Christopher Moreau reports

ALGERNON ANNOUNCES PREFERRED SHARE CLASS APPROVED AT ANNUAL AND SPECIAL MEETING

Algernon Pharmaceuticals Inc. has released the voting results at its annual and special meeting of shareholders held earlier today, including an ordinary resolution to approve an alteration to the company's authorized share structure and articles, to include an unlimited number of preferred shares, of which an unlimited number of preferred shares will be designated as Series 1. The resolution received greater than 93 per cent of the votes in favour.

The Series 1 preferred shares include a 10-per-cent annual dividend payable in common shares or preferred shares at the discretion of the company's board of directors, and are convertible into, without payment of any consideration and without further action on the part of the holder thereof, 10 common shares. Following the approval of the resolution, the company will issue 450,000 preferred shares and 450,000 preferred warrants pertaining to an acquisition completed on May 22, 2025, and 1,268,334 preferred shares and 634,167 preferred warrants pertaining to a private placement of subscription receipts closed on July 24, 2025.

Additionally, the company announces the voting results for the election of its directors. Each of the five nominees listed in the company's management information circular dated July 31, 2025, namely Harry J.F. Bloomfield K.C., Christopher J. Moreau, Dr. Raj Attariwala, Dr. Mark Williams and U.S. ambassador (retired) Howard Gutman, was elected as a director of Algernon to hold office until the next annual meeting of shareholders or until a successor is duly elected. Each director received votes for, totalling greater than 95 per cent.

The company recently announced its plans to change its name to Algernon Health Inc. from Algernon Pharmaceuticals Inc., to better reflect its added work in the Alzheimer's disease diagnostic market and its plans to establish specialized neuroimaging clinics across North America as its lead program.

About Algernon Pharmaceuticals Inc.

Algernon Pharmaceuticals is a Canadian health care company focused on the provision of brain-specific PET scanning services through a planned network of new clinics in North America for the detection of Alzheimer's disease, as well as other forms of dementia, epilepsy, neuro-oncology and movement disorders. Algernon is also the parent company of a private subsidiary called Algernon NeuroScience that has been advancing a psychedelic program investigating a proprietary form of DMT for stroke and traumatic brain injury. The company also owns a 20-per-cent equity position in Seyltx, a private United States-based drug development company advancing a chronic cough drug called Ifenprodil.

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