Mr. Robert Andrade reports

FENNEC PHARMACEUTICALS ANNOUNCES INDUCEMENT GRANTS UNDER NASDAQ LISTING RULE 5635(C)(4)

On March 17, 2026, the compensation committee of Fennec Pharmaceuticals Inc.'s board of directors approved the grant of incentive stock option awards (ISOs) to purchase an aggregate of 377,500 of the company's common shares to 24 new non-executive employees of the company with a grant date of March 31, 2026, under the company's 2026 equity inducement plan. The ISOs were granted as inducements material to the employees entering into employment with the company in accordance with Nasdaq Listing Rule 5635(c)(4).

The inducement plan is used exclusively for the grant of equity awards to individuals who were not previously employees of the company, or following a bona fide period of non-employment, as an inducement material to such individuals' entering into employment with the company, pursuant to Nasdaq Listing Rule 5635(c)(4).

All ISOs have an exercise price of $5.77 per share, which is equal to the closing price of the company's common shares on The Nasdaq Capital Market on March 30, 2026, and a term of 10 years from the date of grant. One-third of the shares underlying each ISO vest on the one-year anniversary of the grant date and continue to vest monthly thereafter over 24 months, subject to each employee's continued employment with company as of each such vesting date. The stock options are subject to the terms and conditions of the inducement plan and the terms and conditions of an ISO agreement covering the grant.

About Fennec Pharmaceuticals Inc.

Fennec Pharmaceuticals is a specialty pharmaceutical company committed to the fight against ototoxicity in cancer patients who receive cisplatin-based chemotherapy. Fennec is focused on the commercialization of Pedmark to reduce the risk of platinum-induced ototoxicity in cancer patients. Pedmark received Food and Drug Administration approval in September, 2022, and European Commission approval in June, 2023, and United Kingdom (U.K.) approval in October, 2023, under the brand name Pedmarqsi.

In March, 2024, Fennec entered into an exclusive licensing agreement under which Norgine Pharmaceuticals Ltd., a leading European specialist pharmaceutical company, will commercialize Pedmarqsi in Europe, the United Kingdom, Australia and New Zealand. Pedmarqsi is now commercially available in the U.K. and Germany.

Pedmark has received orphan drug exclusivity in the U.S. and Pedmarqsi has received pediatric use marketing authorization in Europe which includes eight years plus two years of data and market protection.

We seek Safe Harbor.