Mr. Gabriel Fahel reports

CYBIN ANNOUNCES RESULTS OF ANNUAL AND SPECIAL MEETING OF SHAREHOLDERS AND SHARE CONSOLIDATION

Cybin Inc. has released the voting results for each of the matters presented at the company's annual and special meeting of shareholders, held on Aug. 27, 2024. There were 87 shareholders represented in person or by proxy at the meeting holding 453,195,063 common shares, representing 59.66 per cent of Cybin's total issued and outstanding common shares as at the record date for the meeting. The voting results for each matter presented at the meeting are set out herein.

1. Appointment of auditor

Zeifmans LLP was appointed auditor of Cybin until the next annual meeting of shareholders at renumeration to be fixed by the directors of Cybin. Voting results are set out herein.

      Votes for           Votes withheld  

Number            %       Number          %   

447,888,253   99.29    3,192,685       0.71

2. Election of directors

Each of the nominees for election as director listed in Cybin's management information circular dated July 24, 2024, was elected as a director of Cybin for the ensuing year or until a successor is elected or appointed. Voting results are set out herein.

                           Votes for       Votes withheld  

                         Number       %     Number       %   

Theresa Firestone   294,246,457   99.30   2,068,215   0.70
Grant Froese        291,239,267   98.29   5,075,405   1.71
Paul Glavine        294,405,593   99.36   1,909,079   0.64
Eric Hoskins        289,686,724   97.76   6,627,948   2.24
Mark Lawson         291,772,251   98.47   4,542,420   1.53
Eric So             294,108,045   99.26   2,206,627   0.74
George Tziras       289,376,032   97.66   6,938,640   2.34

3. Consolidation of common shares

The resolution to approve the consolidation of the issued and outstanding common shares of the company by a ratio of one for up to 50 was approved by at least two-thirds of votes cast by the shareholders who voted in respect of the resolution present or represented by proxy at the meeting. Voting results are set out herein.

      Votes for           Votes against   

Number            %       Number        %   

430,616,168   95.46   20,464,958     4.54

4. Amendments to equity incentive plan

The resolution to approve certain amendments to Cybin's equity incentive plan was approved by a majority of votes cast by the shareholders who voted in respect of the resolution present or represented by proxy at the meeting. Voting results are set out herein.

      Votes for           Votes against    

Number            %       Number         %    

204,933,530   69.16   91,381,142     30.84

5. Amendments to shareholder rights plan

The resolution to approve certain amendments to Cybin's shareholder rights plan was approved by a majority of votes cast by the shareholders who voted in respect of the resolution present or represented by proxy at the meeting. Voting results are set out herein.

       Votes for         Votes against   

Number            %        Number       %   

285,100,993   96.22    11,213,679    3.78

6. Amendments to common share purchase warrants

The resolution to approve certain amendments to the outstanding common share purchase warrants of the company was approved by a majority of votes cast by the disinterested shareholders who voted in respect of the resolution present or represented by proxy at the meeting. Voting results are set out herein.

       Votes for          Votes against   

Number            %       Number        %   

252,224,216   94.06   15,927,910     5.94

Share consolidation

The company also announces that the board of directors of the company has approved the consolidation ratio for the proposed consolidation of the company's issued and outstanding common shares on the basis one new common share for every 38 existing common shares.

As a result of the consolidation, the 759,692,495 common shares issued and outstanding prior to the consolidation will be reduced to approximately 19,991,907 common shares. Each shareholder's percentage ownership in the company and proportional voting power remain unchanged after the consolidation, except for minor changes and adjustments resulting from the treatment of any fractional common shares

Furthermore, 148,656,000 options and 106,255,498 common share warrants, prior to the consolidation, have been reduced to approximately 3,912,000 options and approximately 2,796,197 common share warrants, respectively, as a result of the consolidation.

The company will not be issuing fractional postconsolidation common shares. Where the consolidation would otherwise result in a shareholder being entitled to a fractional common shares, the number of postconsolidation common shares issued to such shareholder shall be rounded either up or down to the next highest or lowest number of the whole consolidated common shares, as the case may be.

Shareholder approval of the consolidation was obtained at the meeting. In connection with the consolidation, the company expects to send letters of transmittal to registered holders of its common shares for use in transmitting their existing share certificates to the company's registrar and transfer agent, Odyssey Trust Company, in exchange for new certificates, representing the number of postconsolidation common shares to which such shareholder is entitled as a result of the consolidation. No delivery of a new certificate to a shareholder will be made until the shareholder has surrendered existing certificates. Until surrendered, each existing certificate shall be deemed for all purposes to represent the number of postconsolidation common shares to which the holder is entitled as a result of the consolidation.

The consolidation is subject to the approval of the Cboe Canada. The company expects the consolidation to be effective and the trading of the common shares of the company reflecting the consolidation to commence on or about Sept. 19, 2024.

About Cybin Inc.

Cybin is a clinical-stage breakthrough neuropsychiatry company on a mission to create safe and effective next-generation therapeutics to address the large unmet need for new and innovative treatment options for people who suffer from mental health conditions.

Cybin's goal of revolutionizing mental health care is supported by a network of world-class partners and internationally recognized scientists aimed at progressing proprietary drug discovery platforms, innovative drug delivery systems, novel formulation approaches and treatment regimens. Cybin is currently developing CYB003, a proprietary deuterated psilocybin analogue program for the treatment of major depressive disorder, and CYB004, a proprietary deuterated dimethyltryptamine molecule for generalized anxiety disorder, and has a research pipeline of investigational psychedelic-based compounds.

Headquartered in Canada and founded in 2019, Cybin is operational in Canada, the United States, the United Kingdom, the Netherlands and Ireland.

We seek Safe Harbor.