Mr. George Tziras reports

HELUS PHARMA™ ANNOUNCES US$50 MILLION UNDERWRITTEN OFFERING

Cybin Inc. (Helus Pharma Corp.) has priced an underwritten offering of 10,309,280 common shares in the capital of the company at an offering price of $4.85 (U.S.) per common share, for aggregate gross proceeds of $50-million (U.S.).

Cantor and Barclays are acting as joint bookrunning managers for the offering. Bloom Burton Securities Inc. and Lucid Capital Markets are acting as lead managers for the offering.

The offering is expected to close on June 25, 2026, or such other date as may be mutually agreed by the company and the underwriters. The offering is subject to customary closing conditions, including approval of Cboe Canada Inc. and notification of the offering to the Nasdaq Global Market.

The company intends to use the net proceeds from the offering to progress the company's HLP003 for major depressive disorder with phase 3 Approach data expected in the fourth quarter of 2026, HLP004 for generalized anxiety disorder and HLP005 programs, and for working capital and general corporate purposes.

The company is offering the common shares only in the United States and in certain other jurisdictions outside of Canada, pursuant to a prospectus supplement to the company's short form base shelf prospectus dated Sept. 17, 2025, as amended on Dec. 19, 2025. The prospectus supplement will be filed with the securities commissions in all of the provinces and territories of Canada and with the United States Securities and Exchange Commission (the SEC), as part of a registration statement on Form F-10 (file No. 333-292294) which was filed with the SEC, under the United States Securities Act of 1933, as amended, on Dec. 19, 2025, in accordance with the multijurisdictional disclosure system established between Canada and the United States. Prior to forming an investment decision, prospective investors should read the base shelf prospectus and the documents incorporated by reference therein, including any marketing materials, which will be available on the company's SEDAR+ profile and the company's EDGAR profile.

The base shelf prospectus is, and the prospectus supplement will be accessible on SEDAR+ and on EDGAR. An electronic or paper copy of the base shelf prospectus and the prospectus supplement, upon filing and any amendments thereto, may be obtained, without charge, from any of the representatives by contacting Cantor Fitzgerald & Co., attention: Capital Markets, 110 East 59th St., sixth floor, New York, N.Y., 10022, or by e-mail at prospectus@cantor.com, or Barclays Capital Inc., c/o Broadridge Financial Solutions, 1155 Long Island Ave., Edgewood, N.Y., 11717, via telephone at 888-603-5847, or via e-mail at Barclaysprospectus@broadridge.com.

About Cybin Inc. (doing business as Helus Pharma)

Helus Pharma, the commercial operating name of Cybin, is a clinical stage pharmaceutical company committed to helping minds heal by developing proprietary NSAs -- novel serotonergic agonists: synthetic molecules designed to activate serotonin pathways that are believed to promote neuroplasticity. The company's proprietary NSAs are intended to address the large unmet need for people who suffer from depression, anxiety and other mental health conditions.

With class-leading data, Helus Pharma aims to improve the treatment landscape through the introduction of NSAs that aim to provide durable improvements in mental health. Helus Pharma is currently developing HLP003, a proprietary NSA, in phase 3 clinical development for the adjunctive treatment of major depressive disorder that has received breakthrough therapy designation from the U.S. Food and Drug Administration and HLP004, also a proprietary NSA in phase 2 for generalized anxiety disorder. Additionally, Helus Pharma has a portfolio of investigational NSAs.

The company operates in Canada, the United States, the United Kingdom and Ireland. Helus Pharma is a trademark of Helus Pharma.

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