Mr. Klaus Paulini reports

AETERNA ZENTARIS ANNOUNCES RESULTS OF ANNUAL MEETING OF SHAREHOLDERS

All items of business, other than the proposed consolidation of Aeterna Zentaris Inc.'s shares, were approved at its annual meeting of shareholders held today.

Results of meeting

At the meeting, all items of business other than the share consolidation were approved. The individuals noted herein were elected as directors of the company.

          VOTING RESULTS FOR ELECTION OF DIRECTORS

Name of nominee   Votes for        %   Votes withheld        %   

Peter Edwards    10,264,600   75.75%        3,285,758   24.25%
Carolyn Egbert    9,712,946   71.68%        3,837,412   28.32%
Gilles Gagnon     9,719,864   71.73%        3,830,494   28.27%
Klaus Paulini    10,178,648   75.12%        3,371,711   24.88%
Dennis Turpin    10,375,735   76.57%        3,174,623   23.43%

At the meeting, Ernst & Young LLP was reappointed as the company's auditor, and the continued use of the company's amended and restated shareholder rights plan was approved.

The company is an eligible interlisted issuer as such term is defined in the Toronto Stock Exchange company manual. As an eligible interlisted issuer, the company has relied on an exemption pursuant to Section 602.1 of the TSX company manual from Section 613 of the TSX company manual, the effect of which is that, subject to the satisfaction of certain conditions prescribed by the Toronto Stock Exchange, the company will not have to comply with certain Canadian requirements in connection with the company's long-term incentive plan. As a result, shareholders were not asked to approve the unallocated entitlements under the company's long-term incentive plan at the meeting.

For full voting details, please see the report of voting results filed on SEDAR and EDGAR.

Adjournment of meeting

The meeting was adjourned until July 6, 2022, at 10 a.m. Eastern Time. The adjournment of the meeting is intended to provide Aeterna Zentaris with additional time to solicit proxies to ensure that all shareholders have an opportunity to make their voices heard with respect to the share consolidation. The meeting will be reconvened as a virtual meeting on July 6, 2022, at 10 a.m. Eastern Time.

The share consolidation requires the approval of at least two-thirds of the votes cast by shareholders at the meeting. Without the share consolidation, the company is at risk of having its shares delisted from the Nasdaq. Additional information on the share consolidation can be found in the company's management information circular, which is available on the company's website, under the company's profile at SEDAR, and on the Securities and Exchange Commission website.

The record date for determining shareholders eligible to vote at the meeting remains May 17, 2022. Shareholders who have already voted do not need to recast their votes unless they wish to change their vote. Shareholders who have not already voted or wish to change their vote are strongly encouraged to do so promptly using the instructions provided in the circular and in the form of proxy or voting instruction form. The company has engaged Kingsdale Advisors as the company's strategic shareholder adviser and proxy solicitation agent, and will pay fees of approximately $60,000 to Kingsdale Advisors to assist in the solicitation of proxies with respect to matters to be considered at the reconvened meeting.

The company encourages all shareholders who have not yet voted to vote for the share consolidation by 5 p.m. Eastern Time on July 5, 2022.

If you have questions about the share consolidation or require assistance voting, please consult your financial, legal, tax and other professional advisers or the company' s strategic shareholder adviser and proxy solicitation agent, Kingsdale Advisors, by telephone at 1-800-775-4067 (toll-free in North America) or at 1-416-867-2272 outside of North America, or by e-mail at contactus@kingsdaleadvisors.com.

About Aeterna Zentaris Inc.

Aeterna Zentaris is a specialty biopharmaceutical company, developing and commercializing a diversified portfolio of pharmaceutical and diagnostic products focused on areas of significant unmet medical need. The company's lead product, macimorelin (macrilen and ghryvelin), is the first and only U.S. Food and Drug Administration- and European Commission-approved oral test indicated for the diagnosis of adult growth hormone deficiency (AGHD). The company is leveraging the clinical success and compelling safety profile of macimorelin to develop it for the diagnosis of childhood-onset growth hormone deficiency (CGHD), an area of significant unmet need, in collaboration with Novo Nordisk.

Aeterna Zentaris is dedicated to the development of therapeutic assets and has recently taken steps to establish a growing preclinical pipeline to potentially address unmet medical needs across a number of indications, including neuromyelitis optica spectrum disorder (NMOSD), Parkinson's disease (PD), hypoparathyroidism and amyotrophic lateral sclerosis (ALS or Lou Gehrig's disease). Additionally, the company is developing an oral prophylactic bacterial vaccine against SARS-CoV-2 (COVID-19) and chlamydia trachomatis.

We seek Safe Harbor.