Dr. Frederick Sancilio reports

LOBE SCIENCES ANNOUNCES RESULTS OF ANNUAL GENERAL AND SPECIAL MEETING OF SHAREHOLDERS

Lobe Sciences Ltd. has released the voting results from its annual general and special meeting of shareholders held on July 30, 2026.

A total of 152,807,032 common shares were represented at the meeting, representing approximately 49.6 per cent of the company's issued and outstanding common shares as of the June 15, 2026, record date. All resolutions presented to shareholders were approved, including the election of directors, the reappointment of the company's auditor, approval of a new long-term incentive plan, ratification of prior restricted share unit grants and amendments to the company's constating documents.

The special resolution approving amendments to the company's constating documents, including the elimination of the company's existing class of preferred shares, received 99.773-per-cent shareholder approval.

Board of directors

Shareholders elected the following individuals as directors of the company to serve until the next annual meeting of shareholders or until their successors are duly elected or appointed:

• Dr. Frederick D. Sancilio;
• Dr. Harry R. Jacobson;
• Wesley Ramjeet;
• Marco Mastrodonato;
• Nick Karakochuk.

Governance initiatives

Shareholders approved a new long-term incentive plan that reduces the maximum number of common shares issuable under all security-based compensation arrangements from 40 per cent to 20 per cent of the company's issued and outstanding shares. The revised incentive structure is intended to better align management, employees, consultants and directors with long-term shareholder interests while significantly reducing potential dilution.

Shareholders also approved amendments to the company's constating documents, including the elimination of the company's preferred share class. Management believes these amendments simplify the company's capital structure and enhance corporate governance transparency.

Corporate update

Following the formal business of the meeting, management provided shareholders with an update on the company's strategic, operational and capital market initiatives.

Dr. Sancilio, chairman and chief executive officer, reviewed the company's strategy of identifying and advancing pharmaceutical assets through dedicated subsidiary companies focused on specific therapeutic opportunities. The company's objective is to advance these programs through value-creating development milestones and strategic initiatives intended to maximize shareholder value.

Management also discussed continuing efforts directed toward a future senior exchange listing. The company believes that a senior listing may provide broader access to institutional investors, increased market visibility, enhanced trading liquidity and improved opportunities to support future growth initiatives.

In addition, shareholders were updated on the progress of the company's subsidiary development programs, including regulatory and preclinical activities supporting the advancement of Cynaptec Pharmaceuticals' L-130 program and Applied Lipid Therapeutics' S-100 program.

About Lobe Sciences Ltd.

Lobe Sciences is a biopharmaceutical development company focused on identifying, acquiring, developing and advancing therapeutic candidates through focused subsidiary companies and strategic development initiatives. The company's business strategy is centred on advancing promising pharmaceutical assets through key development milestones and strategic transactions that may create value for shareholders.

The company currently operates through specialized subsidiary platforms, including Cynaptec Pharmaceuticals and Applied Lipid Therapeutics, which are advancing programs targeting significant unmet medical needs in neurology and rare disease.

We seek Safe Harbor.