Mr. Zeeshan Saeed reports

FSD PHARMA FILES SUPPLEMENT TO MANAGEMENT INFORMATION CIRCULAR IN CONNECTION WITH SPECIAL MEETING TO BE HELD ON NOVEMBER 20, 2023

FSD Pharma Inc. has provided certain additional disclosure, by way of a supplement dated Nov. 15, 2023, to its management information circular dated Oct. 20, 2023, relating to certain restrictions on resale that will apply to the Celly Nu shares that will be distributed to the FSD Pharma securityholders. Capitalized terms not defined in this news release have the meanings assigned in the Circular.

FSD Pharma Securityholders may access the Supplement which contains this additional disclosure in the same manner as the Circular, which was delivered using the notice and access method. Accordingly, FSD Pharma Securityholders may access electronic copies of the additional disclosure online at:

agmconnect.com/fsdpharma2023

and

www.sedarplus.ca

The Chair of the Meeting has the discretion to accept proxies received less than 48 hours prior to the Meeting and, to ensure that FSD Pharma Securityholders have sufficient time to vote, FSD Pharma will now accept proxies received prior to 5:00 p.m. (Toronto time) on Friday, November 17, 2023. The form of proxy previously sent to FSD Pharma Securityholders remains valid for use at the Meeting, and no new form of proxy will be provided with the Supplement. FSD Pharma Securityholders who have already submitted a proxy or voting instruction form and do not wish to change their vote, do not need to take any further action with respect to the Meeting. FSD Pharma Securityholders who wish to change their vote should refer to "Appointment of Proxyholders and Revocation of Proxies" in the Circular.

About FSD Pharma

FSD is a biopharmaceutical company dedicated to building a portfolio of innovative assets and biotech solutions for the treatment of challenging neurodegenerative, inflammatory and metabolic disorders and alcohol misuse disorders with drug candidates in different stages of development. Through its wholly-owned subsidiary, Lucid Psycheceuticals Inc. ("Lucid"), FSD is focused on the research and development of its lead compound, Lucid-MS (formerly Lucid-21-302) ("Lucid-MS"). Lucid-MS is a patented new chemical entity shown to prevent and reverse myelin degradation, the underlying mechanism of multiple sclerosis, in preclinical models. FSD is also focused on the research and development of UNBUZZD(TM), a proprietary formulation of natural ingredients, vitamins, and minerals to help with liver and brain function for the purposes of quickly relieving individuals from the effects of alcohol consumption. FSD maintains a portfolio of strategic investments through its wholly-owned subsidiary, FSD Strategic Investments Inc., which represent loans secured by residential or commercial property.