Mr. David Burke reports

SERNOVA BIOTHERAPEUTICS ANNOUNCES CLOSING OF RECENTLY APPROVED FINANCINGS

Sernova Biotherapeutics Inc. has completed the final closing of a series of previously disclosed financing transactions, following receipt of shareholder approval at the company's annual general meeting held on April 8, 2026.

The financings include:

• $1.5-million unsecured convertible debenture financing with an insider;
• $4.0-million non-brokered unit financing with an insider, the proceeds of which were used to retire outstanding loan obligations;
• Settlement of $192,574 of debt held by certain members of management in exchange for units of capital in the company;
• Settlement of $12,508,057 of debt held by a major vendor in exchange for units of capital in the company.

Certain of the financings constitute related party transactions within the meaning of applicable securities laws, as insiders of the company participated in the debt settlement and financings. The company relied on applicable exemptions from formal valuation and minority shareholder approval requirements, as the fair market value of the transactions did not exceed 25 per cent of the company's market capitalization.

All securities issued in connection with the financings are subject to applicable statutory hold periods in accordance with securities laws.

About Sernova Biotherapeutics Inc.

Sernova Biotherapeutics is a clinical-stage company developing regenerative medicine therapeutics combining its Cell Pouch with human donor cells or stem-cell derived islet-like clusters in collaboration with Evotec to create bio-hybrid organs to treat T1D. A bio-hybrid organ comprises non-biomaterials, such as the Cell Pouch, integrated with living tissues and blood vessels to provide oxygen and nutrients to contained cells to restore or enhance the function of a compromised organ.

We seek Safe Harbor.