Mr. David Elsley reports

CARDIOL THERAPEUTICS REPORTS RESULTS OF 2024 ANNUAL GENERAL AND SPECIAL MEETING OF SHAREHOLDERS

Cardiol Therapeutics Inc. has released the results from its annual general and special meeting of shareholders, held virtually via live audio webcast on June 26, 2024. Shareholders voted in favour of all management resolutions proposed in the company's management information circular, dated May 13, 2024.

Resolutions proposed and approved at the meeting were:

• The election of the following directors for the ensuing year: David Elsley, Peter Pekos, Dr. Guillermo Torre-Amione, Colin Stott, Michael Willner, Jennifer Chao, Chris Waddick, Teri Loxam;
• The appointment of BDO Canada LLP as the auditor of the company until the next annual meeting and the authorization of the directors of the company to fix the remuneration to be paid to the auditor;
• The approval of the unallocated awards under the company's omnibus equity incentive plan.

The results of the voting on the election of directors are provided in the attached table.

About Cardiol Therapeutics Inc.

Cardiol Therapeutics is a clinical-stage life sciences company focused on the research and clinical development of anti-inflammatory and anti-fibrotic therapies for the treatment of heart disease. The company's lead small-molecule drug candidate, the CardiolRx (cannabidiol) oral solution, is pharmaceutically manufactured and in clinical development for use in the treatment of heart disease. It is recognized that cannabidiol inhibits activation of the inflammasome pathway, an intracellular process known to play an important role in the development and progression of inflammation and fibrosis associated with myocarditis, pericarditis and heart failure.

Cardiol Therapeutics has received investigational new drug application authorization from the United States Food and Drug Administration (FDA) to conduct clinical studies to evaluate the efficacy and safety of CardiolRx in two diseases affecting the heart: (i) a phase II multicentre open-label pilot study in recurrent pericarditis (the MAvERIC-pilot study; NCT05494788), an inflammatory disease of the pericardium, which is associated with symptoms including debilitating chest pain, shortness of breath and fatigue, and results in physical limitations, reduced quality of life, emergency department visits and hospitalizations; and (ii) a phase II multinational, randomized, double-blind, placebo-controlled trial (the Archer trial; NCT05180240) in acute myocarditis, an important cause of acute and fulminant heart failure in young adults and a leading cause of sudden cardiac death in people less than 35 years of age. The U.S. FDA has granted orphan drug designation to CardiolRx for the treatment of pericarditis, which includes recurrent pericarditis.

Cardiol Therapeutics is also developing CRD-38, a novel subcutaneously administered drug formulation intended for use in heart failure, a leading cause of death and hospitalization in the developed world, with associated healthcare costs in the United States exceeding $30-billion annually.

We seek Safe Harbor.