Mr. Zeeshan Saeed reports

FSD PHARMA INC. ANNOUNCES RESULTS OF ANNUAL GENERAL AND SPECIAL MEETING OF SHAREHOLDERS

FSD Pharma Inc. has released the results of its annual general and special meeting of shareholders, held on-line on June 29, 2023.

There were 148 shareholders represented in person or by proxy at the AGSM holding 48 Class A multiple voting shares and 8,176,402 Class B subordinate voting shares, representing 66.67 per cent and 20.94 per cent of the votes attached to the Class A shares and Class B shares, respectively, with each Class A share entitling the holder to 276,660 votes on all matters.

The detailed results of the vote for the election of directors of the company are set out herein.

As a result, the nominees for election as directors set out herein were elected as directors of the company to serve until the close of the next annual meeting of shareholders or until their successors are elected or appointed.

In addition, at the AGSM, the shareholders also reappointed MNP LLP as the company's auditor and authorized the directors to fix the auditor's remuneration, approved the equity incentive plan originally adopted by the board on May 16, 2022, reapproved the stock option plan originally adopted by the board on Feb. 9, 2018, and last approved by the company's shareholders on March 15, 2018, and approved the special resolution to amend the company's articles of incorporation to change the name of the company from FSD Pharma to such name as may be approved by the board of directors of the company (including the changing of the company's stock symbol to reflect its new name) in its sole discretion, without further approval of the shareholders of the company.

For more information on these matters, please refer to the company's management information circular dated May 19, 2022, on SEDAR. Details of the company's report of voting results are available under the company's profile SEDAR.

Name change

In the event that the company proceeds with a name change, letters of transmittal will be made available to shareholders of the company for use in depositing their certificates representing their Class A shares or Class B shares to the company's transfer agent in exchange for new certificates representing the new name of the company. Shareholders are not required to take any action at this time. Non-registered shareholders holding their Class A shares or Class B shares through an intermediary should note that intermediaries may have different procedures for processing a name change than those that will be put in place by the company for registered shareholders. If you hold your Class A shares or Class B shares with an intermediary and you have questions in this regard, you are encouraged to contact your intermediary. Shareholders should not destroy any share certificates and should not submit any certificates until requested to do so, if required.

You may contact the transfer agent, Marrelli Trust Company Ltd., by mail at c/o Marrelli Transfer Services Corp., 82 Richmond St. East, Toronto, Ont., M5C 1P1, by telephone at 416-361-0737 or over e-mail at info@marrellitrust.ca.

About FSD Pharma Inc.

FSD Pharma is a biotechnology company with three drug candidates in different stages of development. FSD BioSciences Inc., a wholly owned subsidiary, is focused on pharmaceutical research and development of its lead compound, FSD201, a proprietary ultramicronized PEA (palmitoyl ethylamine) formulation, for the treatment of inflammatory diseases. Lucid Psychss Inc., a wholly owned subsidiary, is focused on the research and development of its lead compounds, Lucid-Psych and Lucid-MS. Lucid-Psych is a molecular compound identified for the potential treatment of mental health disorders, and expanding this category, the company is investigating other products addressing acute medical needs due to the abuse of drugs such as alcohol. Lucid-MS is a molecular compound identified for the potential treatment of neurodegenerative disorders.

We seek Safe Harbor.