Mr. Dean Burns reports

OCUMETICS ANNOUNCES SUCCESSFUL COMPLETION OF ANIMAL STUDY Q1 2024 FIRST IN HUMAN STUDY PLANNED

Ocumetics Technology Corp. has confirmed the successful completion of its biocompatibility animal study, in preparation for its first-in-human study, anticipated to commence in first quarter 2024 in the Dominican Republic.

The biocompatibility of the Ocumetics accommodating intraocular lens was evaluated by surgical implantation of two lenses into the eyes of rabbits. The first lens, the Ocumetics accommodating lens, was compared to the second lens, a commercially available monofocal intraocular lens (IOL) as a control. Results from this three-month animal study demonstrated that there were no biocompatibility or safety issues related to the Ocumetics accommodating lens when compared to the control IOL.

The study also evaluated the occurrence of anterior and posterior capsular opacification in the rabbit model over the three-month period. There were no significant differences between the two IOL groups in terms of posterior capsular opacification and anterior capsular opacification at the end of the study.

Dr. Garth Webb, founder and chief scientific officer of Ocumetics, expressed enthusiasm about the outcomes, emphasizing: "Our primary focus in this study was to assess the surgical implantation performance of our revolutionary accommodating intraocular lens design. I am thrilled to report that the results not only met, but surpassed our expectations. This marks the realization of years of dedicated technological advancement."

Dr. Doyle Stulting, chief medical officer of Ocumetics, shed light on the Ocumetics accommodating lens innovation, stating: "Our latest lens design caters to the needs of ophthalmologists by offering precise control during implantation, ensuring a gradual unfolding within the capsular bag. This new lens design was enthusiastically received by our medical advisory board and should assure broad acceptance by ophthalmic surgeons immediately after U.S. FDA [Food and Drug Administration] marketing approval."

Dean Burns, president and chief executive officer of Ocumetics, shared the road map ahead: "This successful study is a major milestone for Ocumetics, and a critical step for us to continue our journey towards U.S. FDA approval. We anticipate initiating our first-in-human proof of concept studies in Q1 2024. These latest results are a testament to our team's skill and dedication, and we eagerly anticipate the launch of human trials."

About Ocumetics Technology Corp.

Ocumetics Technology, headquartered in Calgary, Alta., Canada, is an innovator in the field of ophthalmic technology, dedicated to developing and commercializing advanced vision correction solutions that enhance the quality of life for individuals worldwide.

Ocumetics is in the preclinical study stage of a game-changing technology for the ophthalmic industry. In its pursuit of a next-generation interocular lens solution, Ocumetics has developed the Ocumetics accommodating lens, an expandable intraocular lens that fits within the natural lens compartment of the eye potentially to eliminate the need for corrective lenses. It is designed to allow the eye's natural muscle activity to seamlessly shift focus from distance to intermediate to near.