Mr. Christopher Moreau reports

ALGERNON HEALTH ANNOUNCES EFFECTIVE DATE OF PREVIOUSLY ANNOUNCED NAME CHANGE TO "GREY MATTERS HEALTH INC." AND ITS 10:1 SHARE CONSOLIDATION

Effective April 21, 2026, Algernon Health Inc.'s corporate name will change from Algernon Health to Grey Matters Health Inc. and the company will consolidate its Class A common shares on a one-new-for-10-old basis, as previously announced on March 31, 2026.

The company will begin trading under the new symbol, GREY, with the Canadian Securities Exchange. The new Cusip number will be 397884 10 7 and the new ISIN will be CA 397884 10 7 8 for the postconsolidation common shares of Grey Matters Health. The company's postconsolidation common shares are expected to begin trading on the CSE on or about April 21, 2026. The total issued and outstanding number of common shares postconsolidation will be approximately 5,418,243.

Letters of transmittal with respect to the consolidation will be mailed to all registered shareholders advising that the consolidation has taken effect. The letter of transmittal will contain instructions on how registered shareholders can exchange their share certificates or DRS statements evidencing their preconsolidated common shares for new share certificates or new DRS statements representing the number of postconsolidated common shares to which they are entitled. No action is required by non-registered shareholders (shareholders who hold their shares through an intermediary) to effect the consolidation.

In addition to the company's common shares, its current outstanding preferred shares, warrants (both common and preferred), stock options and restricted share units will also be adjusted in accordance with their respective terms.

About Algernon Health Inc.

Algernon is a Canadian health care company focused on the provision of brain specific PET scanning services through a planned network of new neuroimaging clinics in the United States for the early-stage detection of Alzheimer's disease and other forms of dementia, as well as epilepsy, neuro-oncology and movement disorders, including Parkinson's disease. Algernon has a program for Repirinast, a repurposed drug for CKD, and is also the parent company of Algernon NeuroScience, a wholly owned subsidiary, that has been advancing a psychedelic program investigating a proprietary form of DMT for stroke and traumatic brain injury recovery. The company's chronic cough drug, Ifenprodil, which works by stopping cough in the brain, was sold for $2-million (U.S.) cash and a 20-per-cent equity position in Seyltx, a private U.S.-based drug development company that continues to advance research on the drug.

We seek Safe Harbor.