Mr. Nick Karos reports

UNIVERSAL IBOGAINE PROVIDES BI-WEEKLY DEFAULT STATUS REPORT ON 2025 YEAR-END FILINGS AND UPDATE ON RESTRUCTURING PROCESS

Universal Ibogaine Inc. has provided the following biweekly default status report update.

Management cease trade order

Further to the company's prior news releases (dated Nov. 25, Dec. 2 and Dec. 18, 2025), the company is providing this biweekly default status report in accordance with National Policy 12-203 (Management Cease Trade Orders).

On Nov. 25, 2025, Universal Ibogaine announced that it would have to delay the filing of its annual audited financial statements for the year ended July 31, 2025, its related management's discussion and analysis, and the chief executive officer and chief financial officer certifications past the prescribed deadline of Nov. 28, 2025.

The company applied for and was granted a management cease trade order by the Alberta Securities Commission, its principal regulator, on Dec. 4, 2025, and Universal Ibogaine is required to file continuing biweekly default status reports in the form of a news release during the period of the MCTO. Failure to file the required filings or the biweekly default status reports will result in the issuance of a general cease trade order.

The company intends to file the required filings upon completion of the audit of the consolidated financial statements for the year ended July 31, 2025. The company intends to undertake the audit process shortly, and ultimate completion of the audit may be dependent on the ultimate outcome of the company's current restructuring process (as described below) and any related TSX Venture Exchange regulatory approvals required.

Pursuant to the provisions of the alternative information guidelines specified in NP 12-203, the corporation reports that, since its last news release of Dec. 18, 2025, other than as noted herein:

• There have been no material changes to the information contained in the prior news releases/default status report that would reasonably be expected to be material to an investor.
• There have been no failures by the company to fulfill its stated intentions with respect to satisfying the provisions of the alternative information reporting guidelines under NP 12-203.
• There has not been, nor is there anticipated to be, any specified default subsequent to the default which is the subject of the default announcement.
• There is no other material information respecting the company's affairs that has not been generally disclosed.

Universal Ibogaine intends to comply with the provisions of the alternative information guidelines as set out in NP 12-203 for as long as it remains in default, by issuing biweekly default status reports, each of which will be issued in the form of a news release. The company will also continue, as required, to disclose any other material information concerning its affairs and continuing business activities.

Restructuring process

The company also provides the following update on the status of its current restructuring process as was initially noted in the prior news releases of Oct. 28 and Dec. 18, 2025:

• Universal Ibogaine previously has temporarily closed its Kelburn Recovery Centre addiction treatment operation, located near Winnipeg, Man. Universal Ibogaine continues to pursue various financing options, which may include the ultimate sale of all or a portion of the Kelburn property to a third party, subject to any relevant regulatory approvals.
• Universal Ibogaine continues the process of completing the terms of a letter of intent for a planned sale and will advise of the terms of such once finalized.
• Following a potential sale, Universal Ibogaine plans to continue to focus on its medical research business, which is the effort to have Ibogaine approved for use under Universal Ibogaine's clinical trial application, which is planned to be submitted to Health Canada following completion of the restructuring.
• A portion of the proceeds of a sale are intended to be used to complete the audit process for the above noted required filings and to repay the company's outstanding convertible debt balances (principal owing of $726,500), which recently matured.

About Universal Ibogaine Inc.

Universal Ibogaine is a life science company, with a mission to transform addiction treatment using medicalized ibogaine through a planned Canadian clinical trial focused on opioid use disorder and ultimately to utilize that treatment protocol globally through planned future licensing agreements.

We seek Safe Harbor.