Mr. Alex Vasilkevich reports

BRIGHT MINDS BIOSCIENCES ANNOUNCES LAUNCH OF US$100 MILLION PUBLIC OFFERING

Bright Minds Biosciences Inc. has launched a public offering of common shares in the capital of the company and, in lieu of common shares to investors that so choose, prefinanced warrants to purchase common shares, for aggregate gross proceeds of $100-million (U.S.). In connection with the offering, the company intends to grant to the underwriters a 30-day option to purchase up to an additional 15 per cent of the common shares issued in the offering.

The company intends to use the net proceeds from the offering to finance future clinical trials for the company's drug candidates, including for absence seizures, DEE and Prader-Willi syndrome, as well as initiation of phase 1 clinical drug trials for BMB-105, and additional research and development work on earlier phase programs, as well as for general corporate and working capital purposes.

Jefferies, TD Cowen, Piper Sandler & Co., and Cantor are acting as joint bookrunning managers for the offering.

The company has filed a shelf registration statement on Form F-3 with the U.S. Securities and Exchange Commission (SEC), which was declared effective by the SEC on Sept. 2, 2025. The offering is being made solely by means of a prospectus and a prospectus supplement that form a part of the registration statement. A copy of the preliminary prospectus supplement and accompanying prospectus relating to this offering will be filed with the SEC. Before you invest, you should read the prospectus in that registration statement and other documents the company has filed with the SEC for more information about the company and the offering. You may get these documents for free by visiting EDGAR. Copies of the preliminary prospectus supplement and accompanying prospectus relating to the offering may be obtained from: (i) Jefferies LLC, attention: equity syndicate prospectus department, 520 Madison Ave., New York, N.Y., 10022, by telephone at 877-821-7388 or by e-mail at Prospectus_Department@Jefferies.com; (ii) TD Securities (USA) LLC, care of Broadridge Financial Solutions, 1155 Long Island Ave., Edgewood, N.Y., 11717, or by e-mail at TDManualrequest@broadridge.com; (iii) Piper Sandler & Co., attention: prospectus department, 350 North 5th St., Suite 1000, Minneapolis, Minn., 55401, or by telephone at 800-747-3924 or by e-mail at prospectus@psc.com; or (iv) Cantor Fitzgerald & Co., attention: capital markets, 110 East 59th St. (sixth floor), New York, N.Y., 10022, or by e-mail at prospectus@cantor.com.

About Bright Minds Biosciences Inc.

Bright Minds is a biotechnology company developing innovative treatments for patients with neurological and psychiatric disorders. The company's pipeline includes novel compounds targeting key receptors in the brain to address conditions with high unmet medical need, including epilepsy, depression and other CNS disorders. Bright Minds is focused on delivering breakthrough therapies that can transform patients' lives.

Bright Minds has developed a unique platform of highly selective serotonergic agonists exhibiting selectivity at different serotonergic receptors. This has provided a rich portfolio of NCE programs within neurology and psychiatry.

We seek Safe Harbor.