Mr. George Tziras reports

HELUS PHARMA ANNOUNCES CLOSING OF US$50 MILLION UNDERWRITTEN OFFERING

Cybin Inc., operating as Helus Pharma, has closed its previously announced underwritten offering of 10,309,280 common shares in the capital of the company at an offering price of $4.85 (U.S.) per common share for aggregate gross proceeds of $50-million (U.S.).

Cantor and Barclays acted as joint bookrunning managers for the offering. Bloom Burton Securities Inc. and Lucid Capital Markets acted as lead managers for the offering.

The company intends to use the net proceeds from the offering to progress the company's HLP003 program for major depressive disorder, with phase 3 Approach data expected in the fourth quarter of 2026, HLP004 program for generalized anxiety disorder and HLP005 program and for working capital and general corporate purposes.

The company offered the common shares only in the United States and in certain other jurisdictions outside of Canada, pursuant to a prospectus supplement to the company's short-form base shelf prospectus dated Sept. 17, 2025, as amended on Dec. 19, 2025. The prospectus supplement was filed with the securities commissions in all of the provinces and territories of Canada and with the U.S. Securities and Exchange Commission as part of a registration statement on Form F-10 (file No. 333-292294), which was filed with the SEC, under the U.S. Securities Act of 1933, as amended, on Dec. 19, 2025, in accordance with the multijurisdictional disclosure system established between Canada and the United States. The base shelf prospectus, the prospectus supplement 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. An electronic or paper copy of the base shelf prospectus and the prospectus supplement may be obtained, without charge, by contacting 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, or Barclays Capital Inc., care of Broadridge Financial Solutions, 1155 Long Island Ave., Edgewood, N.Y., 11717, by telephone at 888-603-5847 or by e-mail at Barclaysprospectus@broadridge.com. In consideration for their services, the company paid to the underwriters a cash commission of $3-million (U.S.).

About Cybin Inc.

Helus Pharma, the commercial operating name of Cybin, is a clinical-stage pharmaceutical company committed to helping minds heal by developing proprietary NSAs (novel serotonergic agonists): synthetic molecules designed to activate serotonin pathways that are believed to promote neuroplasticity. The company's proprietary NSAs are intended to address the large unmet need for people who suffer from depression, anxiety and other mental health conditions.

With class-leading data, Helus Pharma aims to improve the treatment landscape through the introduction of NSAs that aim to provide durable improvements in mental health. Helus Pharma is currently developing HLP003, a proprietary NSA in phase 3 clinical development for the adjunctive treatment of major depressive disorder that has received breakthrough therapy designation from the U.S. Food and Drug Administration, and HLP004, also a proprietary NSA in phase 2 for generalized anxiety disorder. Additionally, Helus Pharma has a portfolio of investigational NSAs.

The company operates in Canada, the United States, the United Kingdom and Ireland. Helus Pharma is a trademark of Helus Pharma Corp.

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