Mr. Dave Burwell reports

OCUMETICS ANNOUNCES FORBEARANCE AGREEMENT FOR $4 MILLION SECURED CONVERTIBLE DEBENTURES AND PROVIDES LIFE OFFERING UPDATE

Ocumetics Technology Corp. has entered into a forbearance agreement with the holders of secured convertible debentures that were issued by the corporation in May and June, 2024 (see press release dated Jan. 30, 2026). Pursuant to the forbearance agreement, the debentureholders will forbear from demanding payment of the debentures and from taking any steps to realize upon any security granted in respect of the debentures until June 19, 2027, notwithstanding the maturity of the debentures.

The debentures have an aggregate face value principal amount of up to $4-million. The debentures bear interest at a rate of 18 per cent per annum, compounded annually. Subject to the forbearance, the debentures will mature, and principal and interest will be payable by the corporation, on the date which is two years from the date of issue. The corporation may prepay the indebtedness under the debentures at any time upon 90 days prior written notice, without penalty.

Principal is convertible at the option of the holder into common shares of the corporation at a conversion price of 32 cents per share to and including the maturity date. Interest will be convertible into common shares of the corporation pursuant to shares-for-debt applications, from time to time, at the option of the debentureholders. Such shares-for-debt applications will be subject to the approval of the exchange. The debentures are secured by a general security agreement on the personal property of the corporation among other things.

In consideration for forbearance, the corporation has issued to the debentureholders an aggregate of 9,153,277 share purchase warrants, each warrant entitling the holder thereof to purchase one common share at an exercise price of 58 cents until June 19, 2027. The warrants are issued as bonus warrants pursuant to Policy 5.1 of the TSX Venture Exchange. Pursuant to Policy 5.1, if the debentures are repaid or converted in whole or in part within one year of the date the warrants are issued, a percentage of the warrants equal to the percentage of the amount of the indebtedness repaid or converted will be amended to the later of: (a) one year from the date of issuance; and (b) 30 days from the date of the repayment or conversion. The expiry date of all other warrants shall remain June 19, 2027.

Listed issuer financing exemption offering

The corporation's previously announced offering under the listed issuer financing exemption under Section 5A.2 of National Instrument 45-106 (Prospectus Exemptions), as amended, has terminated. A total of 1,706,383 units were sold under the offering at a price of 60 cents per unit for aggregate gross proceeds of approximately $1,023,830. Each unit consists of one common share in the capital of the corporation and one common share purchase warrant. Each warrant entitles the holder to purchase one additional common share at a price of 75 cents until Dec. 30, 2028. The issuance of the units was announced in the corporation's press release dated Jan. 2, 2026. The corporation did not complete any other tranches under the offering.

About Ocumetics Technology Corp.

Ocumetics is a Canadian research and product development company that is dedicated to developing advanced vision correction solutions that enhance the quality of life for patients. Through innovative research and development, Ocumetics aims to transform the field of ophthalmology with state-of-the-art intraocular lenses and other vision-enhancing technologies.

Ocumetics is in the first-in-human early feasibility study phase of a game-changing technology for the ophthalmic industry. Ocumetics has developed an 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 shift focus from distance to near, providing clear vision at all distances without the help of glasses or contact lenses.

We seek Safe Harbor.