Mr. Christopher Moreau reports

ALGERNON ANNOUNCES ADDITIONAL INCREASE TO PRIVATE PLACEMENT FINANCING TO $858,000 AND FINAL CLOSING OF THE FINANCING

Algernon Health Inc. has increased its non-brokered private placement financing, previously announced on Nov. 6, 2025, to $858,000 and has closed the fourth and final tranche. Gross proceeds from the fourth tranche totalled $117,501 from the sale of 1,678,586 units at an issue price of seven cents per unit. The closing of the fourth tranche brings the financing to a total of $857,001 from the sale of 12,242,872 units, including the closing of previous tranches on Nov. 14, 2025, Nov. 28, 2025, and Dec. 23, 2025. The offering has closed.

Certain insiders of the company participated in the fourth tranche of the offering in the amount of $32,501. The participation by insiders in the fourth tranche of the offering constitutes a related-party transaction as defined under Multilateral Instrument 61-101 (Protection of Minority Security Holders in Special Transactions). The company is relying on the exemptions from the valuation and minority shareholder approval requirements of MI 61-101 contained in sections 5.5(a) and 5.7(1)(a) of MI 61-101, as neither the fair market value of the units purchased by insiders, nor the consideration for the units paid by such insiders exceeded 25 per cent of the company's market capitalization. The company did not file a material change report in respect of the related-party transaction at least 21 days before the closing of the fourth tranche of the offering, which the company deems reasonable in the circumstances as the details of the participation by insiders of the company were not settled until shortly prior to closing the fourth tranche of the offering and the company wished to complete the fourth tranche of the offering in an expeditious manner.

The company did not pay any cash finders' fees pertaining to the fourth tranche of the offering.

The company will use the proceeds of the offering for advancing its Alzheimer's disease program, including the opening of its first U.S. AD clinic, general and administrative expenses, and working capital purposes.

The securities issued and issuable, described in this and the previous news release on Nov. 6, 2025, will be subject to a statutory hold period of four months plus a day from the date of issuance in accordance with applicable Canadian securities legislation.

About Algernon Health Inc.

Algernon Health is a Canadian health care company focused on the provision of brain optimized PET scanning services through a planned network of new clinics in North America for the early-stage detection of Alzheimer's disease, as well as other forms of dementia, epilepsy, neuro-oncology and movement disorders. Algernon is also the parent company of a recently created private subsidiary called Algernon USA LLC that will oversee all U.S. neuroimaging operations.

We seek Safe Harbor.