Dr. Amie Phinney reports

DEFENCE THERAPEUTICS PROVIDES UPDATES ON SHARING AGREEMENT

Defence Therapeutics Inc. has provided an update on its sharing agreement dated March 6, 2026, with Sorbie Bornholm LP, previously described in the company's news releases of March 9 and Feb. 27, 2026.

On March 6, 2026, the company completed a non-brokered private placement in which it issued 17,445,455 units of the company at a price of 55 cents per unit for gross proceeds of $9,595,000.25. Of the units issued under the offering, 10,909,091 units were subscribed for by SBLP and Sorbie Investments LLP for gross proceeds of $6-million. The common shares composed in the units were allotted to SBLP and Sorbie Investments.

Pursuant to the sharing agreement, the company would receive 18 monthly cash settlements, each determined by reference to a benchmark price of 73.32 cents per common share. The amount payable to the company under each settlement is calculated based on a volume-weighted average price for 20 trading days prior to each settlement relative to the benchmark price, with the maximum permitted discount to the market price at the time. If the 20-day VWAP is below the benchmark price, the company will receive less than the monthly amount of $333,333, and, if the 20-day VWAP exceeds the benchmark price, the company will receive more than the monthly amount of $333,333. The final amount of each settlement will depend on the company's future share price, which is subject to market fluctuations and may vary over time.

The company has received the first settlement in the amount of $182,623.49 as of the settlement date of Aug. 14, 2026, against 606,060 placement shares released to SBLP. As of today, 10,303,031 placement shares are held in escrow in connection with the sharing agreement, and there are 17 settlement payments remaining.

About Defence Therapeutics Inc.

Defence Therapeutics is a publicly traded biotechnology company committed to making cancer treatment more effective and safer. Using its Accum precision drug delivery platform, Defence is working to enhance the potency of ADCs and other complex biologics at lower doses, with the goal of reducing side effects and improving access to advanced therapies. By pursing cutting-edge science and collaborating with pharma and biotech partners, Defence strives to bring transformative therapies to patients who need them most.

We seek Safe Harbor.