Mr. J. Roderick Matheson reports

MARVEL BIOSCIENCES ANNOUNCES AN AMENDMENT TO THE CONVERSION PRICE FOR MARVEL'S PROPOSED CONVERTIBLE DEBENTURE OFFERING

Further to the company's news release of April 8, 2026, announcing its intention to complete a non-brokered private placement offering of unsecured convertible debentures in the principal amount of up to $500,000, Marvel Biosciences Corp. has amended the conversation price for the debentures, which are convertible at the holder's option into common shares, to a conversion price of 17 cents per common share. All other terms of the debenture and of the offering remain unchanged, and the offering remains subject to approval of the TSX Venture Exchange.

About Marvel Biosciences Corp.

Marvel Biosciences, with its wholly owned subsidiary, Marvel Biotechnology Inc., is a Calgary-based preclinical-stage pharmaceutical development biotechnology company. The company is developing MB 204, a novel fluorinated derivative of the approved anti-Parkinson's drug Istradefylline, the only clinically approved adenosine A2a antagonist. A significant and growing body of scientific evidence suggests drugs that block the adenosine A2a receptor, such as MB-204, could be useful in treating other neurological diseases such as autism, depression and Alzheimer's disease. The company is actively investigating its potential in addressing other neurodevelopmental disorders, such as Rett syndrome and Fragile X syndrome, to expand its therapeutic reach.

We seek Safe Harbor.