Mr. Ronnie Miller of Ceapro reports

AETERNA ZENTARIS AND CEAPRO MERGER APPROVED BY SECURITYHOLDERS AT SPECIAL MEETINGS

Securityholders of both Aeterna Zentaris Inc. and Ceapro Inc. approved the all-stock merger of equal transaction at their respective special meetings held today. The specific voting results were as follows.

Aeterna shareholders approved the transaction with the voting results shown in an attached table.

Ceapro securityholders approved the transaction with the voting results shown in an attached table.

"We thank our shareholders for their backing of this transaction," said Carolyn Egbert, chair of Aeterna. "This is an excellent outcome that supports the creation of what we believe will be a long-term sustainable business, optimally positioned to deliver value to the biopharma sector and to Aeterna and Ceapro shareholders."

"We are thrilled by the support for this transaction displayed by our valued securityholders at today's meeting," echoed Ronnie Miller, chairman of Ceapro. "This is an integral step on the path to completing the transaction with Aeterna."

The transaction is subject to customary closing conditions for transactions of this nature, including Alberta court approval and applicable stock exchange approvals. Subject to obtaining all required approvals and satisfying all required conditions, the transaction is expected to close in the second quarter of 2024. Following closing, a new name for the combined company will be announced for shareholders of the combined company to consider and approve at the first annual meeting of the combined company. The combined company is expected to be listed on the Nasdaq Stock Market and the Toronto Stock Exchange, subject to the receipt of all necessary approvals.

Further information

Further disclosure on the transaction can be found in the respective management information circulars filed by Aeterna and Ceapro which are available under each company's profile on SEDAR+.

About Aeterna Zentaris Inc.

Aeterna is a specialty biopharmaceutical company developing and commercializing a diversified portfolio of pharmaceutical and diagnostic products focused on areas of significant unmet medical need.

About Ceapro Inc.

Ceapro is a Canadian biotechnology company involved in the development of proprietary extraction technology and the application of this technology to the production of extracts and active ingredients from oats and other renewable plant resources.

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