Mr. Mariusz Olejniczak reports

PROPOSED SHARE CONSOLIDATION OF WPD'S COMMON SHARES

WPD Pharmaceuticals Inc. has proposed a consolidation of its common shares on the basis of one postconsolidation share for 25 preconsolidation shares. Management believes that the consolidation is in the best interest of shareholders of the company. At the annual general and special meeting on Aug. 7, 2024, the shareholders approved of the consolidation.

At the date of this news release, the company has 115,987,137 shares issued and outstanding. Following completion of the consolidation, the company anticipates having 4,639,485 shares issued and outstanding.

No fractional shares of the company will be issued if, as a result of the consolidation, a registered shareholder would otherwise be entitled to a fractional share. Instead, the company will round any fractional shares resulting from the consolidation down to the nearest whole share. The postconsolidation shares will be assigned a new Cusip and ISIN.

A letter of transmittal will be mailed to shareholders advising that: (i) the consolidation has taken effect; and (ii) shareholders should surrender their existing share certificates (representing preconsolidation shares) for replacement share certificates (representing postconsolidation shares). Until surrendered, each existing share certificate will be deemed, for all purposes, to represent the number of shares to which the holder thereof is entitled as a result of the consolidation.

The consolidation is intended to increase the company's flexibility and make the company's securities more attractive to potential investors and other interested parties.

The company will issue another news release in the future to disclose the record date and effective date of the consolidation.

We seek Safe Harbor.