Mr. Philip Young reports

LOBE SCIENCES, LTD. ANNOUNCES THE APPOINTMENT OF MATHEW LEE AS CFO

Mathew Lee will join Lobe Sciences Ltd. as chief financial officer, effective Sept. 18, 2023.

"Appointing Mathew is part of our overall long-term strategy of enlisting top talent to lead our senior executive team while supporting our ongoing R&D [research and development] and commercialization initiatives," said Phil Young, chairman and chief executive officer of Lobe. "Mathew's proven financial experience in the capital markets will play a direct role in allowing us to achieve our business goals. I also want to thank Brian Zasitko for his work as CFO over these last three years. We are very pleased to have him continuing on as adviser during the transition."

"Joining Lobe as CFO represents an incredible opportunity to contribute to the success of the Lobe team and I am excited to be joining an already-successful world-class management team," said Mr. Lee, the company's new chief financial officer. "My near-term focus will be building out the back-office and support structure and supporting the company's commercial activities moving forward."

Mr. Lee has over 15 years of experience as a finance executive. Mr. Lee currently serves as president of Manning Lee Management Ltd., a management consulting firm providing chief financial officer services to publicly traded companies. Mr. Lee specializes in providing M&A (merger and acquisition), accounting, management, securities regulatory compliance, and corporate secretarial services to companies listed on the TSX Venture Exchange, the Canadian Securities Exchange and the OTC (over-the-counter) market. Mr. Lee is a CPA charterholder and has earned a BComm from the University of British Columbia.

About Lobe Sciences Ltd.

Lobe Sciences is a biopharmaceutical company focused on developing patient-friendly, practical psychedelic medicines. The company, through collaborations with industry-leading partners, is engaged in drug research and development using subhallucinatory doses of proprietary compounds to treat orphan diseases. Each of the company's new chemical entities, L-130 and L-131, is being developed to address unmet medical needs such as chronic cluster headaches and other orphan diseases. Additionally, the company will be commercializing Altemia for the treatment of patients diagnosed with sickle cell disease.

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