An anonymous director reports

AETERNA ZENTARIS ANNOUNCES FURTHER ADJOURNMENT OF SHAREHOLDER MEETING

Aeterna Zentaris Inc. has further adjourned its annual general and special meeting of shareholders. The meeting was originally held on June 21, 2022, and was reconvened and further adjourned today prior to shareholders voting on the proposed consolidation of the company's common shares.

The further adjournment of the meeting is intended to provide Aeterna 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 15, 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 and under the company's profile at SEDAR and 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 encourages all shareholders who have not yet voted to vote for the share consolidation by 5 p.m. Eastern Time on July 14, 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 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, 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 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.