Mr. Rishi Sharma reports

DANIEL DESJARDINS IS APPOINTED AS A DIRECTOR OF VELAN

Velan Inc.'s board of directors has appointed Daniel Desjardins as an independent director of Velan.

"Mr. Desjardins is an experienced director and lawyer who has a background in risk management and international operations that will enrich our board's skill set and his appointment is in line with the succession plan. We welcome him to the board with enthusiasm," commented James Mannebach, chair and chief executive officer of Velan.

About Mr. Desjardins

Daniel Desjardins, AdE, is a member of the board of directors of Transat A.T. Inc., the chair of its risk committee and a member of its audit committee since 2022. Mr. Desjardins was member of the board of directors and a member of the audit committee and independent committee of Noranda Income Fund until March, 2023, following the privatization of the fund. Mr. Desjardins is an accomplished business lawyer and executive with extensive expertise in business law, compliance and risk management as well as decades of experience in financing and complex mergers and acquisitions at Bombardier Inc., a company with a global footprint. For more than 20 years, until December, 2019, Mr. Desjardins was senior vice-president, general counsel and corporate secretary at Bombardier. In this role, he was responsible for legal affairs, compliance, internal audit, insurance and risk management for the entire company. From 2018 to January, 2021, he served as chair of the board of directors of Bombardier Transportation. Prior to joining Bombardier, Mr. Desjardins was a partner at a Quebec law firm for 15 years. He began his career at National Bank of Canada. He has been chair of the board of the Legal Leaders for Diversity Trust Fund since 2014 and is chair of the board of the Pointe-a-Calliere Museum. Mr. Desjardins has received numerous professional awards and has twice been named one of Canada's 25 most influential lawyers. In 2017, the Barreau du Quebec awarded him the advocatus emeritus distinction in recognition of his exceptional professional career. Mr. Desjardins holds a law degree from the Universite de Montreal and a master of laws from McGill University.

About Velan Inc.

Founded in Montreal in 1950, Velan is one of the world's leading manufacturers of industrial valves. Velan is a family-controlled public company, employing approximately 1,650 people with manufacturing facilities in nine countries. Velan is a public company with its shares listed on the Toronto Stock Exchange under the symbol VLN.

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