Mr. Todd Shapiro reports

RED LIGHT HOLLAND ANNOUNCES INTENTION TO REBRAND

Red Light Holland Corp. intends to undertake a corporate rebranding, including a change of the company's name, following the closing of the acquisition of Filament Health Corp. The proposed rebranding remains subject to shareholder approval of a name change resolution at the company's upcoming annual general and special meeting (AGSM), scheduled for May 11, 2026.

The decision to rebrand reflects the company's significant strategic evolution since its founding. Following the closing of the Filament transaction, the combined entity has operations in the research-driven, pharmaceutical-focused platform centred on the development of regulated psychedelic medicines across clinical, regulatory and commercial channels, in addition to existing business segments. The current Red Light Holland name is no longer fully representative of the breadth of the company's operations. A new name and brand identity will better position the company to pursue all business segments and to be recognized as a serious participant in the pharmaceutical and life sciences space.

The closing of the Filament transaction represented a defining milestone, bringing together Red Light's data collection and commercial infrastructure with Filament's established good manufacturing practice (GMP) production capabilities, regulatory engagement with the U.S. Food and Drug Administration (FDA), and a growing global clinical footprint. Central to the combined platform is Filament's lead drug candidate, PEX010, a botanical psilocybin formulation currently being evaluated across more than 70 clinical research sites worldwide in studies targeting serious mental health conditions, including depression, PTSD (posttraumatic stress disorder), substance use disorders and cancer-related distress. A name and branding reflective of this expanded scientific mandate will be announced in the coming weeks.

Management commentary

Todd Shapiro, chief executive officer of the company, commented: "The Filament Health transaction represents a transformative milestone for our company, and the time has come for our name and brand to reflect the evolution of our business and the direction of our strategy.

"Our progression from early, emerging markets to a disciplined, science-driven pharmaceutical platform has been both deliberate and substantial, supported by world-class clinical assets, patented drug candidates and an expanding global research network.

"We look forward to unveiling a new name and brand in the coming weeks. We urge all shareholders to vote in favour of the name change resolution at the upcoming AGSM on May 11, 2026."

Shareholder meeting and name change resolution

The name change resolution will be presented to shareholders at the AGSM scheduled for May 11, 2026. Details of the proposed new name will be included in the company's management information circular (MIC), which will be mailed and filed on SEDAR+ in advance of the AGSM. The name change remains subject to shareholder approval at the AGSM and any applicable regulatory approvals, including approval of the relevant stock exchanges.

The company strongly encourages all registered and beneficial shareholders to review the MIC carefully and to vote in favour of the name change resolution. Shareholders who have questions about how to vote their shares are invited to contact the company's investor relations team.

Grants of RSUs (restricted stock units)

Pursuant to the company's equity incentive plan approved at the company's annual, general and special meeting held on Oct. 31, 2024, the company granted 19,350,000 RSUs to certain officers, employees and consultants of the company, vesting over the next 18 months.

The common shares of the company underlying the RSUs are subject to a statutory four-month-and-one-day hold period and such further restrictions as may apply under foreign securities laws.

Certain directors of the company received 12.6 million RSUs, representing a related-party transaction under Multilateral Instrument 61-101, Protection of Minority Security Holders in Special Transactions. The participation of the related party of the company is exempt from the formal valuation and minority shareholder approval requirements provided under MI 61-101 in accordance with sections 5.5(a) and 5.7(1)(1) of MI 61-101, as neither the fair market value of the subject matter of the transaction, nor the consideration, exceeds 25 per cent of the company's market capitalization. The company did not file a material change report related to the RSU grant more than 21 days before the grant as required by MI 61- 101 but believes that this shorter period is reasonable and necessary in the circumstances as the company wishes to incentivize the retaining of key personnel as soon as possible.

Issuance of shares for debt settlement

The company also announces that its board of directors has approved the settlement of amounts owing to arm's-length creditors through the issuance of Shares at the deemed price per share to be determined at time of settlement.

About Red Light Holland Corp.

Red Light Holland is an Ontario-based organization advancing a focused strategy within the legal psychedelic sector, centred on consensual data collection and R&D (research and development) initiatives designed to expand naturally occurring drug development, understanding of psilocybin use and consumer experiences. Following the closing of the acquisition of Filament Health, Filament is now a wholly owned subsidiary of the company, bringing together its established good manufacturing practice (GMP) production capabilities, regulatory engagement with the U.S. Food and Drug Administration (FDA), and a growing global clinical footprint anchored by PEX010, a patented botanical psilocybin drug candidate. In parallel, the company operates commercial activities across Europe and North America, including psilocybin truffle sales in the Netherlands' legal market and mushroom home grow kits offered through B2B (business-to-business) and DTC (direct-to-consumer) channels, in compliance with applicable laws.

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