Dr. Fred Sancilio reports

LOBE SCIENCES APPOINTS MR. YONG YAO AS CHIEF FINANCIAL OFFICER TO SUPPORT STRATEGIC GROWTH

Lobe Sciences Ltd. has appointed Yong Yao, MBA, CGMA, FCMA, as chief financial officer and executive vice-president, effective June 1, 2025.

Mr. Yao brings over 25 years of leadership experience spanning corporate finance, biomedical innovation and business transformation. He has held CFO and executive roles at several public and private companies in North America, including Mountain Valley MD Holdings Inc, Hanalytics BioMind and Xinyuan Real Estate Corp. Mr. Yao also served in senior management roles at Scotiabank, Morgan Stanley and Bank of America Merrill Lynch, where he led initiatives across finance, operations, compliance and risk. He has also served as CFO of ASEA Group and currently sits on the board of PSIG Group as an independent director and chair of the audit committee.

Mr. Yao's dual background in biotechnology and financial strategy, coupled with deep expertise in operations, budgeting and capital markets, positions him well to support Lobe's next phase of growth. He is also a co-founder of SelecIn Biomedical Inc., where he led the development of first-in-class small-molecule therapies and secured early-stage financing.

The appointment marks a strategic shift for Lobe as the company transitions from part-time financial support to full-time professional leadership, bringing capabilities aligned with its regulatory obligations and capital market objectives. This move reflects Lobe's evolving operational needs and its commitment to strengthening financial oversight, enhancing disclosure standards, and supporting the next phase of clinical and corporate development.

"We are excited to welcome Mr. Yao to the executive team at a pivotal time," said Dr. Frederick D. Sancilio, chief executive officer of Lobe. "His track record across biotech and financial sectors will bring valuable depth to our finance function and help strengthen our foundation as we grow."

Mr. Yao holds an MBA from McGill University and a bachelor of science in biology from Nankai University and is designated as a fellow chartered management accountant and chartered global management accountant.

About Lobe Sciences Ltd.

Lobe Sciences is a biopharmaceutical company focused on using lipid technology to develop innovative treatments for orphan and rare diseases. Lobe Sciences commercializes Altemia MF, a medical food designed to manage deficiencies commonly found in sickle cell disease. Additionally, through Cynaptec, Lobe Sciences retains an interest in developing Conjugated Psilocin in neurology and psychiatric indications. Alera Pharma remains a wholly owned subsidiary of the company that Lobe Sciences may elect to utilize for future activity unrelated to Conjugated Psilocin.

About Cynaptec Pharmaceuticals Inc.

Cynaptec is a biopharmaceutical company dedicated to developing innovative therapies for neurological and psychiatric disorders. Cynaptec's initial development program is focused on the use of its proprietary Conjugated Psilocin compound for treatment of the significant unmet medical needs of patients with chronic cluster headaches, with an additional preliminary proof of concept to assess potential utility for substance use disorders.

About Conjugated Psilocin

Conjugated Psilocin is a novel, patented, oral, stable analogue of psilocin, the active metabolite of psilocybin (a pro-drug), designed to enhance bioavailability and therapeutic efficacy, which has been identified as having therapeutic potential in a variety of neurological conditions. Whereas conventional psilocin is an unstable compound that has been challenging for the industry to develop as a standalone pharmaceutical, Conjugated Psilocin's stability and bioavailability profile and associated safety and efficacy signals suggest the potential for prescription drug development in a variety of neurological and psychiatric indications.

About Altemia Medical Food

Altemia Medical Food is a specially formulated emulsified blend of long-chain polyunsaturated fatty acids designed for oral administration in patients with sickle cell disease. As a medical food, Altemia must be prescribed under the care of a physician to ensure appropriate dietary management. Its formulation includes natural emulsifying agents such as egg yolk and vitamin E, which aid in restoring red blood cell membrane fatty acids. Clinical studies have demonstrated that Altemia Medical Food can help address the fatty acid imbalance frequently observed in sickle cell disease, potentially improving patient health outcomes. With limited treatment options available to hematologists for managing this condition, Altemia provides a promising new approach to supporting individuals affected by this debilitating disease.

We seek Safe Harbor.