Mr. Jody Aufrichtig reports

PSYENCE GROUP ANNOUNCES RESIGNATION OF BOARD MEMBER

Marvin Singer has resigned from his position as a non-executive director of Psyence Group Inc. for personal reasons. Mr. Singer has been an integral part of the board of the company since listing in January, 2021, providing valuable insights and guidance during his tenure.

Jody Aufrichtig, executive chairman, expressed his gratitude for Mr. Singer's contributions, stating: "We appreciate Marvin's dedicated service and the significant impact he has made during his time with Psyence Group. His strategic thinking and wealth of experience have been invaluable to our board and have played a crucial role in our company's growth." The board of directors has already initiated the process to identify a suitable candidate to fill the vacancy left by Mr. Singer. The company remains committed to maintaining a strong and diverse board that reflects the values and goals of Psyence Group.

About Psyence Group Inc.

Psyence is a life science biotechnology company listed on the Canadian Securities Exchange, with a focus on natural psychedelics. Psyence works with nature-derived psilocybin products for the healing of psychological trauma and its mental health consequences in the context of palliative care. The company's name, Psyence, combines the words psychedelic and science to affirm the company's commitment to producing psychedelic medicines developed through evidence-based research.

Informed by nature and guided by science, the company built and operates one of the world's first federally licensed commercial psilocybin mushroom cultivation and production facilities in southern Africa. The company's team brings international experience in both business and science and includes experts in mycology, neurology, palliative care and drug development. The company works to develop advanced nature-derived psilocybin products for clinical research and development.

The company's key divisions, Psyence Production and Psyence Therapeutics, anchor an international collaboration, with operations in Canada, the United Kingdom, southern Africa and Australia and a presence in the United States.

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