File: '\\swfile\EmailIn\20240315 154319 Attachment HBP - News Release re Update on Late Filing of FS (Mar 15, 2024).doc'

March 15, 2024 Press Release

Bay Adelaide Centre - North Tower

40 Temperance Street, Suite 2700

Toronto, ON M5H 0B4

www.helixbiopharma.com

Helix BioPharma Corp. Provides Bi-Weekly Update on

Late Filing of Interim Financial Statements

(Toronto, Ontario - March 15, 2024) - Helix BioPharma Corp. (TSX: "HBP") ("Helix" or the "Company), a clinical-stage biopharmaceutical company developing unique therapies in the field of immune-oncology, based on its proprietary technological platform DOS47, provides an update to its news release dated March 1, 2024 (the "Default Announcement"), announcing the late filing of the Company's interim financial statements and accompanying management's discussion and analysis for the six months ended January 31, 2024 (the "Interim Filings").

The Company has applied to the Ontario Securities Commission as its principal regulator and other applicable securities regulators for a volunary management cease trade order (the "MCTO"). As of the date hereof, no MCTO has been granted. If granted, the MCTO will stay in effect until the Interim Filings are filed. During the MCTO, the public will continue to be able to trade in the Company's common shares. However, the Company's Chief Executive Officer and Chief Financial Officer will not be permitted to trade in the common shares.

There are no material changes to the information contained in the Default Announcement. In addition: (i) the Company is satisfying and confirms that it intends to continue to satisfy the provisions of the alternative information guidelines under National Policy 12-203 - Management Cease Trade Order and issue bi-weekly default status reports for so long as the delay in filing the Interim Filings is continuing, each of which will be issued in the form of a press release; (ii) the Company does not have any information at this time regarding any anticipated specified default subsequent to the default in filing the Interim Filings; (iii) the Company is not subject to any insolvency proceedings; and (iv) there is no material information concerning the affairs of the Company that has not been generally disclosed.

The Company is diligently working on the Interim Filings and anticipates filing them by May 18, 2024, as noted in the Default Announcement.

About Helix BioPharma Corp.

Helix BioPharma Corp. is a clinical-stage biopharmaceutical company developing unique therapies in the field of immune-oncology for the prevention and treatment of cancer based on our proprietary technological platform DOS47. Helix is listed on the TSX under the symbol "HBP".

For more information, please contact:

Helix BioPharma Corp.

Bay Adelaide Centre - North Tower

40 Temperance Street, Suite 2700

Toronto, ON M5H 0B4

Tel: 604-684-2181

Jacek Antas, CEO jantas@helixbiopharma.com

Forward-Looking Statements and Risks and Uncertainties

This news release contains forward-looking statements and information (collectively, "forward looking statements") within the meaning of applicable Canadian securities laws. Forward-looking statements are statements and information that are not historical facts but instead include statements regarding plans, goals, objectives, intentions and expectations with respect to the Company's future business, operations, research and development, including the Company's activities relating to DOS47. Forward-looking statements can further be identified by the use of forward-looking terminology such as "will", "plans", "expects", or the negative thereof or any other variations thereon or comparable terminology referring to future events or results, or that events or conditions "will", "may", "could", or "should" occur or be achieved, or comparable terminology referring to future events or results. Forward-looking statements are statements about the future and are inherently uncertain and are necessarily based upon a number of estimates and assumptions that are also uncertain. Although the Company believes that the expectations reflected in such forward- looking statements are reasonable, such statements involve risks and uncertainties, and undue reliance should not be placed on such statements. Forward-looking statements are intended to provide information about management's current plans and expectations regarding future operations, and may not be appropriate for other purposes. Certain material factors, estimates or assumptions have been applied in making forward-looking statements in this news release. The Company's actual results could differ materially from those anticipated in the forward-looking statements contained in this news release as a result of numerous known and unknown risks and uncertainties, including the risk factors discussed in the Company's continuous disclosure record filed under the Company's profile on SEDAR+ at www.sedarplus.ca from time to time. Forward-looking statements and information are based on the beliefs, assumptions, opinions and expectations of Helix's management on the date of this new release, and the Company does not assume any obligation to update any forward-looking statement or information should those beliefs, assumptions, opinions or expectations, or other circumstances change, except as required.