Mr. Jagdip Bal reports

LEXSTON ANNOUNCES CHANGE OF AUDITOR

Lexston Life Sciences Corp.'s board of directors has approved a change of the company's auditor. At the request of the company, Saturna Group Chartered Professional Accountants LLP has resigned as auditor of the company, effective June 27, 2023. The audit committee and the board of directors of the company have appointed WDM Chartered Professional Accountants as the successor auditor, effective June 27, 2023, until the close of the next annual general meeting of the company.

The company has sent a notice of change of auditor to the former auditor and to the successor auditor and has received a letter from each, addressed to the securities commissions in each of Ontario, Alberta and British Columbia and the Canadian Securities Exchange stating that they agree with the information contained in the notice. The notice, together with the letter from the former auditor and the letter from the successor auditor, has been reviewed by the company's audit committee and its board of directors and is available on SEDAR.

There were no disagreements or unresolved issues with the former auditor on any matter of audit scope or procedures, accounting principles or policies, or financial statement disclosure. It is the company's opinion that there have been no reportable events (as defined in National Instrument 51-102 (Continuous Disclosure Obligation)) between the company and the former auditor. The former auditor did not provide a modified opinion in the auditor's report for the financial statements of the company for the fiscal years ended May 31, 2022, and 2021.