Mr. Michael Nederhoff reports

PSYCHED WELLNESS PROVIDES CORPORATE UPDATE

Jeff Stevens has stepped down from his position as chief executive officer and resigned as a director of Psyched Wellness Ltd., each effective May 31, 2026.

Mr. Stevens has also resigned from all of his positions with AME Wellness Inc., the company's wholly owned subsidiary, effective May 31, 2026. Specifically, he has stepped down as president, treasurer, secretary and director of AME Wellness.

In addition, the company announces that Janeen Stodulski has resigned as a director of the company, effective June 9, 2026.

The board of directors would like to thank Mr. Stevens for his leadership, dedication and contributions to the company during his tenure, would like to thank Ms. Stodulski for her contributions, and wish them both continued success in their future endeavours.

Effective June 1, 2026, Michael Nederhoff, the current chairman of the board, will assume the role of interim chief executive officer while the company undertakes the process of identifying a permanent CEO.

The company remains focused on advancing its strategic objectives and delivering value to its shareholders, customers and stakeholders.

About Psyched Wellness Ltd.

Psyched Wellness is a Canadian-based health supplement company dedicated to the distribution of mushroom-derived products and associated consumer packaged goods. The company's objective is to create premium mushroom-derived products that have the potential to become a leading North American brand in the emerging functional food category.

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