The Toronto Stock Exchange reports that Cosciens Biopharma Inc. will: (i) consolidate its common shares on the basis of one postconsolidation share for every 150 preconsolidation shares; and (ii) immediately split of the postconsolidation shares on the basis of 50 postsplit shares for every one postconsolidation share, for a final consolidation ratio of 1:3, effective at the open on July 7, 2026. According to the TSX, the shares will continue trading under the symbol CSCI. The new Cusip number is 22112H 20 0.

The TSX notes that no fractional shares will be issued. Shareholders with positions representing a number of shares less than the consolidation ratio will cease to hold such shares and will be entitled to an amount in cash per share equal to $1.60 (U.S.), rounded down to the nearest whole cent. Shareholders with positions representing a number of shares equal to or greater than the consolidation ratio will not have such shares (fractional or otherwise) acquired by the company following the consolidation and will continue to be shareholders of the company. The shares (including fractions thereof) of the remaining shareholders will be subject to the split. No fractional shares will be issued to remaining shareholders as a result of the split and any fractional interest in shares that would otherwise result from the split will be rounded down to the nearest whole share without any compensation therefor.

According to the TSX, registered shareholders must complete and sign the letter of transmittal and return it, together with the certificates or DRS advices representing such shares, as applicable, to Computershare Trust Company of Canada at its principal office in Toronto. Each share certificate or DRS advice held by consolidated shareholders will entitle such registered consolidated shareholder to receive the consolidation consideration. A new DRS advice will be sent to registered remaining shareholders reflecting the new number of shares such registered remaining shareholders are entitled to.

Beneficial shareholders who own preconsolidation shares beneficially through an intermediary or in the name of a clearing agency (such as CDS) are not required to submit a letter of transmittal. The intermediary or the clearing agency, as the case may be, will: (i) take the appropriate steps and arrange for payment of any consolidation consideration to consolidated shareholders; and/or (ii) take the appropriate steps to ensure that the accounts of beneficial remaining shareholders are adjusted to reflect the new number of shares such remaining shareholders are entitled to.

For more information, see the company's management proxy circular dated May 18, 2026, and its news releases dated April 20, 2026, June 22, 2026, and July 3, 2026.