Mr. Douglas Janzen reports

AEQUUS ANNOUNCES COMPLETION OF PREVIOUSLY ANNOUNCED SALE OF ZIMED PF

Aequus Pharmaceuticals Inc. has completed the previously announced sale of its Zimed PF product to Luvo Medical Technologies Ltd. for aggregate consideration of approximately $531,693. As the transaction constituted the sale of all or substantially all of the assets of the company pursuant to Section 301 of the Business Corporations Act (British Columbia), the transaction was approved by the company's shareholders at the annual general and special meeting held on Nov. 21, 2025. For additional details regarding the transaction, please refer to the company's news release dated May 23, 2025, and the information circular dated Oct. 20, 2025, related to the meeting.

The transaction was completed pursuant to the asset purchase agreement dated May 22, 2025, between Aequus and Luvo, as amended, pursuant to an amending agreement dated March 30, 2026. The purchase agreement was amended to, among other things, replace the continuing 6-per-cent royalty obligation originally contemplated thereby with a one-time lump sum royalty payment in an amount equal to approximately $131,693, thereby increasing the aggregate consideration payable to the company from approximately $400,000 to $531,693. As there are no further continuing royalty obligations, the company will no longer be pursuing the assignment of the royalty to Douglas Janzen, the chief executive officer of the company, as described in the information circular.

As a result of completion of the transaction, effective on or about April 3, 2026, the company's exchange listing will be transferred to the NEX board of the TSX Venture Exchange.

About Luvo Medical Technologies Inc.

Luvo Medical is a subsidiary of Clarion Medical Technologies Inc., a leading Canadian provider of medical equipment and consumables to aesthetic and vision providers in private clinics and hospitals.

About Aequus Pharmaceuticals Inc.

Aequus is a specialty pharmaceutical company, with a focus on commercializing value-added products in specialty therapeutic areas in the Canadian market.

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