File: '\\swfile\EmailIn\20260617 131000 Attachment BetterLife Warrant Extension -2026-06-17.docx'

BetterLife Pharma Announces Extension of Warrants

VANCOUVER, British Columbia, June 17, 2026 - BetterLife Pharma Inc. ("BetterLife" or the "Company") (CSE: BETR / OTCQB: BETRF / FRA: NPAU) announces that, effective immediately, expiry dates of the certain outstanding share purchase warrants ("Warrants") are extended by a further one year period.

Warrants, with original exercise price of $0.10 per unit, granted pursuant to conversions of convertible debentures, have been extended as follows:

Expiry date of August 31, 2026 for 350,000 Warrants have been extended to August 31, 2027;

Expiry date of September 27, 2026 for 7,743,342 Warrants have been extended to September 27, 2027;

Expiry date of October 1, 2026 for 4,090,904 Warrants have been extended to October 1, 2027; and

Expiry date of October 29, 2026 for 416,712 Warrants have been extended to October 29, 2027.

In addition, 1,750,000 Warrants with original exercise price of $0.13 per unit and expiry of July 1, 2026, granted pursuant to a private placement in July 2024, have been extended to July 1, 2027.

The Company will not issue new warrant certificates in connection with the forementioned amendment. Previously issued warrant certificates remain valid and enforceable until the amended expiry dates as noted above. Warrantholders may exercise their warrants by returning a completed subscription notice/form (included with the warrant certificate), the original warrant certificate and payment by bank draft (made payable to "BetterLife Pharma Inc.") to the Company at: BetterLife Pharma Inc., 1275 West 6th Avenue, #300, Vancouver, BC, V6H 1A6 (Attention: Dr. Ahmad Doroudian). For warrant exercises that will be paid by wire transfer or any questions related to the warrants, please contact Info@BlifePharma.com.

Of the Warrants with original expiry date of September 27, 2026 being amended, 2,041,644 Warrants are held by directors and an officer ("Related Parties") and therefore related parties of the Company within the meaning of Multilateral Instrument 61-101 - Protection of Minority Security Holders in Special Transactions ("MI 61-101"). The amendment of the Warrants held by the related parties constitutes a "related party transaction" for the purposes of MI 61-101. The Company is relying on the exemptions from the formal valuation and minority shareholder approval requirements contained in Sections 5.5(a) and 5.7(1)(a) of MI 61-101, respectively, as the fair market value of the Warrants subject to the amendment insofar as it involves interested parties, do not exceed 25% of the Company's market capitalization, as determined in accordance with MI 61-101.

The Company's board of directors reviewed and approved the warrant amendments. The Related Parties declared their interest in the transaction and abstained from voting on the resolution approving the amendment. The Company did not file a material change report more than 21 days before the effective date of the amendment as the details of the transaction were not settled until shortly before closing and the Company wished to complete the transaction on an expedited basis for sound business reasons.

About BetterLife Pharma

BetterLife Pharma Inc. is a biotechnology company developing compounds for the treatment of neurological and neuro-psychiatric disorders. Its lead candidate, BETR-001, is a non-hallucinogenic LSD-derivative molecule in preclinical development.

For further information, please visit BetterLife Pharma.

Contact

Ahmad Doroudian, Chief Executive Officer

Email: Ahmad.Doroudian@blifepharma.com

Phone: 1-604-221-0595

Cautionary Note Regarding Forward-Looking Statements

No securities exchange has reviewed nor accepts responsibility for the adequacy or accuracy of the content of this news release. This news release may contain forward-looking statements that are not historical facts. Forward-looking statements are often identified by terms such as "will", "may", "should", "anticipate", "expects" and similar expressions. All statements other than statements of historical fact, included in this release are forward-looking statements that involve risks and uncertainties. These statements reflect current expectations and are subject to risks and uncertainties that could cause actual results to differ materially, including risks relating to financing, clinical and regulatory timelines and the Company's ability to continue as a going concern. The reader is cautioned that assumptions used in the preparation of any forward-looking information may prove to be incorrect. Events or circumstances may cause actual results to differ materially from those predicted, as a result of numerous known and unknown risks, uncertainties, and other factors, many of which are beyond the control of the Company. The reader is cautioned not to place undue reliance on any forward-looking information. Such information, although considered reasonable by management at the time of preparation, may prove to be incorrect and actual results may differ materially from those anticipated. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement. The forward-looking statements contained in this news release are made as of the date of this news release. Additional risk factors are described in the Company's filings at www.sedarplus.ca. The Company undertakes no obligation to update these statements except as required by law.