Mr. Philip Young reports

LOBE SCIENCES PROVIDES COMPANY REVIEW OF 2023

Lobe Sciences Ltd. has provided an update on its progress and achievements in 2023.

Philip Young CEO commented, "2023 was a remarkable year that witnessed the company make important advancements in clinical development of our proprietary pharmaceutical products and the acquisition and commercial launch of Altemia, our novel medical formulation for Sickle Cell Disease."

Major Achievements In 2023

Transitioned to a focus on treating Orphan Diseases

Acquired Altemia in April of 2023

Appointed Baxter Phillips III as COO of Lobe and President of Altemia

Signed Exclusive Collaboration with Pentec Health for the launch and distribution of Altemia(TM)

Recorded revenue of $1.1M CAD for Altemia(TM)

Completed of the first Phase 1 study evaluating the PK and safety of L-130

Demonstrated L-130 12 Month shelf stability

Confirmed the improved pharmacokinetics of L-130 delivered as a shelf-stable capsule over its inactive prodrug, psilocybin

"2023 was truly a transformative year for Lobe Sciences. With the completion of the first-in-man clinical work on L-130 we have demonstrated that we have a very valuable pharmaceutical product with a more predictable PK stability profile that we believe the preferred drug candidate for any Company pursuing the development of serotonin targeted therapeutics, including psychedelic uses and non-psychedelic dosing as we are pursuing." Young continued, "We believe the initial sales of Altemia portend a promising 2024 for the use of Altemia by the patient and physician Sickle Cell Disease community. The company plans to build on this momentum in 2024 and I look forward to updating our investors throughout 2024."

Management will be meeting with prospective investors and corporate partners during the 42nd Annual J.P. Morgan Healthcare Conference in San Francisco on January 8-11. To schedule a meeting please contact ir@lobesciences.com

About Lobe Sciences Ltd.

Lobe Sciences is a biopharmaceutical company focused on developing transformative medicines to treat rare diseases. The Company, through collaborations with industry-leading partners, is additionally engaged in drug research and development using non-hallucinatory doses of stabilized psilocin based compounds to address unmet medical needs in orphan neurological therapeutic applications.

We seek Safe Harbor.