Ms. Jenene Thomas reports

AETERNA ZENTARIS ANNOUNCES SHAREHOLDER APPROVAL OF SHARE CONSOLIDATION

Aeterna Zentaris Inc. received approval of a proposed consolidation of the company's shares at its reconvened annual meeting of shareholders held today.

Following the meeting, the company's board of directors approved the share consolidation on the basis of one post-share consolidation share for every 25 preshare consolidation shares. The company expects to file articles of amendment to implement the share consolidation in the coming days. The share consolidation remains subject to the approval of the Toronto Stock Exchange and the Nasdaq Capital Market.

For additional information regarding the share consolidation, please refer to the company's notice of annual general and special meeting of shareholders and management information circular dated May 16, 2022, which are available on SEDAR or EDGAR.

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; Ghryvelin), is the first and only Ubnited States FDA (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; 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.