Mr. Andrew Schutte reports

REPLICEL LIFE SCIENCES ANNOUNCES ARBITRATION DECISION

On Monday, Oct. 16, 2023, RepliCel Life Sciences Inc. received the final award related to its continuing arbitration proceedings with Shiseido Co. Ltd. The tribunal dismissed RepliCel's claims finding that Shiseido validly terminated the collaboration and technology transfer agreement dated effective as of July 9, 2013. Management is currently considering the impact of the decision and assessing its options.