Mr. Jason Birmingham reports

NOVERIS HEALTH SCIENCES PROVIDES CORPORATE UPDATE

Noveris Health Sciences Inc. has provided this corporate update.

Re-engagement with Applied Pharmaceutical Innovation

The company is pleased to announce that it has re-engaged Applied Pharmaceutical Innovation, one of Canada's largest life science commercialization organizations, with operations at multiple sites in Alberta, to provide consulting services focused on psilocybin product development, the discovery of novel compounds, and the identification and protection of related intellectual property, including potential patent applications. The engagement is governed by a master service agreement, effective May 27, 2026.

The company initially established its strategic partnership with API in June, 2020, but was unable to continue the engagement following funding constraints that resulted in the project being paused in November, 2024. API remains an ideal partner to support the company's objectives of discovering, developing and optimizing intellectual property within the psilocybin sector, as well as any other areas of drug development pursued by the company, particularly with API's significantly expanded research facilities and operations that have grown over the past two years to include global-scale commercial manufacturing. Accordingly, the company is pleased to announce the re-engagement of API and payment of a $20,000 retainer pursuant to the service agreement to recommence the parties' collaborative development efforts. API retains ownership of certain work product related to its previously engagement with the company, and, as part of the new engagement, will be providing recommendations on assets to transfer back to the company.

In addition to the retainer, the company has budgeted a minimum of $100,000 for research and development consultancy services from API (to be invoiced based on hourly rates) under the service agreement during its fiscal year ending Dec. 31, 2026. The service agreement does not impose a minimum (or maximum) spend requirement on the company.

Applied Pharmaceutical Innovation is an industry-funded, not-for-profit life science commercialization organization that provides commercialization, development and strategic support services on a fee-for-service basis. API's engagement is expected to focus on assisting the company with the evaluation, development, protection and potential commercialization of intellectual property opportunities. API is not being granted ownership of company intellectual property, nor any royalty, licensing or commercialization rights in respect of such intellectual property as part of the current engagement.

Update on its stem cell initiatives

While management views opportunities in the stem cell and regenerative medicine sectors as complementary to the company's broader life science focus, the company believes that its immediate priority is to advance and maximize the value of its existing intellectual property portfolio and its renewed collaboration with API.

As previously announced on April 29, 2026, the company entered into a non-binding term sheet contemplating the acquisition of an equity interest in Ell Stem Cells, a distributor of regenerative medicine products, including extracellular matrices, exosomes and stem-cell-based therapies, to physicians from licensed laboratories. The company remains in discussions with the vendors of Ell regarding potential avenues to participate in the stem cell distribution market and is evaluating a range of transaction structures, including a joint venture, licensing arrangement, strategic partnership or equity investment. No definitive agreement has been entered into at this time, and, as noted in the company's April 29 news release, there can be no assurance that any transaction will be completed. Management will provide further updates on its stem cell initiatives as they become available.

About Noveris Health Sciences Inc.

Noveris is a publicly traded biopharmaceutical and life science company focused on the research, development and commercialization of next-generation medications and therapies to address mental health disorders, including nicotine addiction and posttraumatic stress disorder.

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