Mr. George Tziras reports

CYBIN ANNOUNCES CLOSING OF $175 MILLION REGISTERED DIRECT OFFERING

Cybin Inc. has closed its previously announced registered direct offering of 22,277,750 common shares in the capital of the company and, in lieu of common shares to certain investors, 4,605,500 prefinanced common share purchase warrants at a price of 6.51 (U.S.) per common share or prefianced warrant for aggregate gross proceeds of $175,009,911.45 (U.S.).

The financing includes new and existing investors, including Venrock Healthcare Capital Partners, OrbiMed, Point72, Deep Track Capital, Acorn Bioventures, Spruce Street Capital, Squadron Capital Management, Adage Capital Partners LP, Boxer Capital Management, ADAR1 Capital Management, Stonepine Capital Management, Pivotal Bioventure Partners and Ally Bridge Group.

Each common share and each prefinanced warrant are accompanied by 0.35 of one common share purchase warrant. Each warrant is exercisable to acquire one common share at a price of $8.14 (U.S.) per common share at any time prior to the earlier of: (i) June 30, 2027; (ii) 30 days following the publication by news release of top-line data for the approach trial of CYB003 in major depressive disorder; and (iii) 30 days following the date a news release is issued by the company announcing exercise of its acceleration right, which right can only be exercised if the closing price of the common share on NYSE American LLC is equal to or exceeds $19.53 (U.S.) per common share for any five consecutive trading days.

Each prefinanced warrant entitles the holder thereof to acquire one common share at a nominal exercise price. The prefinanced warrants will not expire.

Jefferies, TD Cowen and Cantor acted as joint lead placement agents, and Bloom Burton Securities Inc. acted as a placement agent for the offering.

The company intends to use the net proceeds from the offering to repay the company's outstanding unsecured convertible debentures held by High Trail Special Situations LLC, to progress the company's CYB003, CYB004 and CYB005 programs, and for working capital and general corporate purposes.

The company offered the securities in the United States and certain other jurisdictions, pursuant to a prospectus supplement to the company's short form base shelf prospectus dated Sept. 17, 2025. The prospectus supplement was filed in the United States with the United States Securities and Exchange Commission (SEC), as part of a registration statement on Form F-10, as amended (file No. 333-289139), which became automatically effective on Sept. 17, 2025, in accordance with the multijurisdictional disclosure system established between Canada and the United States. The base shelf prospectus and the documents incorporated by reference therein, including any marketing materials, are available on the company's SEDAR+ profile and the company's EDGAR profile. Copies of the prospectus supplement and base shelf prospectus may be obtained, without charge, by contacting Jefferies LLC, attention: equity syndicate prospectus department, 520 Madison Ave., New York, N.Y., 10022, by telephone at 877-821-7388 or by e-mail at Prospectus_Department@Jefferies.com, to TD Securities (USA) LLC, care of Broadridge Financial Solutions, 1155 Long Island Ave., Edgewood, N.Y., 11717, or by e-mail at TDManualrequest@broadridge.com, and to Cantor Fitzgerald & Co., attention: capital markets, 110 East 59th St. (sixth floor), New York, N.Y., 10022, or by e-mail at prospectus@cantor.com.

About Cybin Inc.

Cybin is a breakthrough phase 3 clinical-stage neuropsychiatry company committed to revolutionizing mental health care by developing new and innovative next-generation treatment options to address the large unmet need for people who suffer from mental health conditions.

With promising class leading data, Cybin is working to change the mental health treatment landscape through the introduction of novel drugs that provide effective and durable results for patients. The company is currently developing CYB003, a proprietary deuterated psilocin analog, in phase 3 studies for the adjunctive treatment of major depressive disorder that has received breakthrough therapy designation from the U.S. Food and Drug Administration, and CYB004, a proprietary deuterated N, N-dimethyltryptamine molecule in a phase 2 study for generalized anxiety disorder. The company also has a research pipeline of investigational, 5-HT-receptor focused compounds.

Founded in 2019, Cybin is operational in Canada, the United States, the United Kingdom and Ireland.

We seek Safe Harbor.