Ms. Leah Gibson reports

CYBIN ANNOUNCES UP TO USD$35 MILLION AT-THE-MARKET EQUITY PROGRAM

Cybin Inc. has established an at-the-market equity program that allows Cybin to issue and sell up to $35-million (U.S.) of common shares in the capital of the company from treasury to the public, from time to time, through the agents. All shares sold under the ATM program will be sold in transactions that are deemed to be "at-the-market" distributions as defined in National Instrument 44-102 -- Shelf Distributions, directly through the Neo Exchange Inc., the NYSE American LLC or any other "marketplace" (as defined in National Instrument 21-101 -- Marketplace Operation) upon which the shares are listed, quoted or otherwise traded, at the prevailing market price at the time of sale. Cybin intends to use the net proceeds from sales of shares under the ATM program, if any, for growth opportunities and working capital initiatives.

Distributions of shares under the ATM program, if any, will be made pursuant to the terms and conditions of an "at-the-market equity" distribution agreement dated Aug. 8, 2022, that the company entered into with Cantor Fitzgerald Canada Corp. and Cantor Fitzgerald & Co.

The ATM program will be effective until the earlier of the issuance and sale of all of the shares issuable pursuant to the ATM program and Aug. 5, 2023, unless earlier terminated in accordance with the terms of the distribution agreement. The company is not obligated to make any sales of shares under the ATM program and there can be no assurance as to when such sales will be completed, if ever. The volume and timing of distributions under the ATM program, if any, will be determined in Cybin's sole discretion and in accordance with the distribution agreement. As any shares distributed under the ATM program will be issued and sold at the prevailing market price at the time of the applicable sale, prices may vary among purchasers through the duration of the ATM program. The completion of sales of shares under the ATM program will be subject to customary closing conditions, including the listing of such shares on the Neo Exchange and the NYSE American LLC, and any required approvals of each exchange.

The ATM program is being established, and the sale of the shares through the ATM program will be made pursuant to, and qualified by way of, a prospectus supplement dated Aug. 8, 2022, to the company's short form base shelf prospectus dated July 5, 2021, filed with the securities commissions in each of the provinces and territories of Canada. The supplement was also filed with the United States Securities and Exchange Commission, as part of a registration statement on Form F-10, which was declared effective by the SEC on Oct. 8, 2021, in accordance with the multijurisdictional disclosure system established between Canada and the United States.

The supplement and accompanying base prospectus contain important detailed information about the ATM program. The supplement and accompanying base prospectus can be found under the company's profile on SEDAR and with the United States Securities and Exchange Commission on EDGAR. Copies of the supplement and accompanying base prospectus may also be obtained from Cantor Fitzgerald Canada Corp., Attn: Equity Capital Markets, 1500, 181 University Ave., Toronto, Ont., M5H 3M7, e-mail: ecmcanada@cantor.com, Cantor Fitzgerald & Co., Attn: Capital Markets, 499 Park Ave., 4th floor, New York, N.Y., 10022, e-mail: prospectus@cantor.com.

Prospective investors should read the supplement and accompanying base prospectus and the other documents the company has filed before making an investment decision.

About Cybin Inc.

Cybin is a leading ethical biopharmaceutical company, working with a network of world-class partners and internationally recognized scientists, on a mission to create safe and effective therapeutics for patients to address a multitude of mental health issues. Headquartered in Canada and founded in 2019, Cybin is operational in Canada, the United States, the United Kingdom, the Netherlands and Ireland. The company is focused on progressing psychedelics to therapeutics by engineering proprietary drug discovery platforms, innovative drug delivery systems, novel formulation approaches and treatment regimens for mental health disorders.

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