Mr. Zeeshan Saeed reports

QUANTUM BIOPHARMA'S USD $700 MILLION LAWSUIT ALLEGING STOCK MARKET MANIPULATION SUBJECT OF 3-PART SERIES INVESTIGATIVE NEWS PROGRAM W5

National television network CTV News' flagship investigative program W5 will air, starting today, a three-part series about Quantum Biopharma Ltd. and the company's allegations of stock market manipulation.

Top CTV News journalist and W5 investigative reporter Jon Woodward describes part one of the series in an article entitled, "Was a Canadian company's multiple sclerosis research nearly derailed by 'market manipulation'?" The series explores the phenomenon of stock spoofing, a market manipulation tactic that is illegal in both Canada and the United States, and the basis of a $700-million (U.S.) lawsuit by Quantum Biopharma against two of Canada's largest banks CIBC and RBC.

Quantum Biopharma chief executive officer Zeeshan Saeed commented: "We thank W5 for their important investigation into the illegal, but little known, practice of stock spoofing and some of its harmful effects on retail investors. Our goal has always been to bring Lucid-MS -- a potentially game-changing drug that in animal studies has been shown to stop and even reverse the degradation of nerve cells (a hallmark of multiple sclerosis) giving back mobility and control to the body unlike any drug today for the benefit of millions of people around the world who courageously live with this progressive and debilitating disease. By shining a light on our experience with alleged stock market manipulation, we hope to prevent other companies, their shareholders and their beneficiaries, from experiencing what we have been through."

About Quantum Biopharma Ltd.

Quantum Biopharma is a biopharmaceutical company dedicated to building a portfolio of innovative assets and biotech solutions for the treatment of challenging neurodegenerative and metabolic disorders and alcohol misuse disorders with drug candidates in different stages of development. Through its wholly owned subsidiary, Lucid Psycheceuticals Inc., Quantum Biopharma is focused on the research and development of its lead compound, Lucid-MS. Lucid-MS is a patented new chemical entity shown to prevent and reverse myelin degradation, the underlying mechanism of multiple sclerosis, in preclinical models. Quantum Biopharma invented unbuzzd and spun out its OTC version to a company, Celly Nutrition Corp., now Unbuzzd Wellness Inc., led by industry veterans. Quantum Biopharma retains ownership of 19.86 per cent as of Sept. 30, 2025, of Unbuzzd Wellness Inc. The agreement with Unbuzzd Wellness also includes royalty payments of 7 per cent of sales from unbuzzd until payments to Quantum Biopharma total $250-million. Once $250-million is reached, the royalty drops to 3 per cent in perpetuity. Quantum Biopharma retains 100 per cent of the rights to develop similar products or alternative formulations specifically for pharmaceutical and medical uses. Quantum Biopharma maintains a portfolio of strategic investments through its wholly owned subsidiary, FSD Strategic Investments Inc., which represents loans secured by residential or commercial property.

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