Mr. David Elsley reports

CARDIOL THERAPEUTICS' PHASE II RECURRENT PERICARDITIS DATA PUBLISHED IN THE JOURNAL OF THE AMERICAN HEART ASSOCIATION

Cardiol Therapeutics Inc. has published its phase II Maveric study results in the Journal of the American Heart Association (JAHA). The publication comes as the pivotal phase III Maveric trial nears full patient enrolment.

The publication describes clinical findings in which CardiolRx was associated with rapid and sustained reductions in pericarditis pain and inflammation in patients with a high baseline disease burden. The study also reported substantial reductions in pericarditis episodes per year and a favourable safety and tolerability profile. Together, these findings provide the strong clinical rationale for Maveric, a randomized, double-blind, placebo-controlled, pivotal phase III trial evaluating CardiolRx for reducing the risk of pericarditis recurrence.

"The publication of these results in the Journal of the American Heart Association makes the full body of peer-reviewed phase II evidence available to the broader cardiovascular community," said David Elsley, president and chief executive officer of Cardiol Therapeutics. "The publication provides comprehensive details of findings previously presented at the American Heart Association scientific sessions, including clinically important reductions in pain, inflammation and recurrences with CardiolRx, a favourable safety and tolerability profile, and its potential to offer a non-immunosuppressive treatment for patients living with recurrent disease. These findings directly informed the design of Maveric, our pivotal phase III study. With enrolment now approaching completion, we believe the strong level of interest highlights the unmet need in this patient population and reinforces our confidence in the potential of CardiolRx to advance the standard of care."

The full publication is available in the Journal of the American Heart Association.

About Cardiol Therapeutics Inc.

Cardiol Therapeutics is a late-stage life sciences company focused on advancing the development of anti-inflammatory and anti-fibrotic therapies for heart disease. The company's lead small-molecule drug candidate, CardiolRx, modulates inflammasome pathway activation, an intracellular innate immune system response known to play an important role in the development and progression of inflammation and fibrosis associated with pericarditis, myocarditis, and heart failure.

The Maveric program is evaluating CardiolRx for the treatment of recurrent pericarditis, an inflammatory disease of the pericardium associated with symptoms including debilitating chest pain, shortness of breath and fatigue, which can lead to physical limitations, reduced quality of life, emergency department visits and hospitalizations. The program comprises the completed phase II Maveric-Pilot study (NCT05494788) and the continuing pivotal phase III Maveric trial (NCT06708299). The United States FDA (Food and Drug Administration) has granted orphan drug designation to CardiolRx for the treatment of pericarditis, including recurrent pericarditis.

The Archer program is also studying CardiolRx, specifically in acute myocarditis -- an important cause of acute and fulminant heart failure in young adults and a leading cause of sudden cardiac death in individuals under 35 years of age. The program comprises the completed phase II Archer study (NCT05180240), which evaluated the safety, tolerability and efficacy of CardiolRx in this patient population.

The company is also developing CRD-38, a novel, subcutaneously administered drug formulation intended for the treatment of inflammatory heart disease, including heart failure -- a leading cause of death and hospitalization in the developed world, with associated health care costs in the United States exceeding $30-billion (U.S.) per year.

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