Mr. Karim Mecklai reports

ELIXXER ANNOUNCES COMPLETION OF DEBT SETTLEMENT

Elixxer Ltd., further to its press releases of Sept. 5, 2025, Sept. 16, 2025, and Nov. 6, 2025, has settled an aggregate of $6,923,742.46 in debt through the issuance of an aggregate of 83,924,151 common shares at a deemed issuance price of 8.25 cents per common share.

The debt settlement was approved by disinterested shareholders of the company at the company's annual and special shareholder meeting of shareholders of the company held on Tuesday, Dec. 30, 2025.

The debt settlement is considered a "related party transactions" as defined in Multilateral Instrument 61-101 -- Protection of Minority Securityholders in Special Transactions, as certain insiders of the company will receive an aggregate of 79,075,667 common shares. The company is relying on the exemption from the valuation requirement of MI 61-101 contained in Section 5.5(g) of MI 61-101, as the company's securities are not listed on one of the markets specified in Section 5.5(g) of MI 61-101. The debt settlement was approved by disinterested shareholders of the company at the company's annual and special shareholder meeting of shareholders of the company held on Tuesday, Dec. 30, 2025.

The debt settlement was approved by the members of the board of directors of the company who are independent for the purposes of the debt settlement, being all directors other than Messrs. Alexey (Alex) Kanayev and Jayahari (Jay) Balasubramaniam. No special committee was established in connection with the debt settlement, and no materially contrary view or abstention was expressed or made by any director of the company in relation thereto.

Prior to the completion of the debt settlement, AIP Convertible Private Debt Fund L.P. held an aggregate of 3,633,391 common shares, representing approximately 32.04 per cent of the issued and outstanding common shares on an undiluted basis and 44.07 per cent on a partially diluted basis. Upon completion of the debt settlement, AIP holds an aggregate of 80,284,815 common shares and 2,437,540 common share purchase warrants, representing approximately 84.28 per cent of the issued and outstanding on an undiluted basis and approximately 84.67 per cent on a partially diluted basis. Depending on market and other conditions, or as future circumstances may dictate, AIP may from time to time increase or decrease its holdings of common shares or other securities of the company. A copy of the early warning report will be available on the company's issuer profile on SEDAR+.

About Elixxer Ltd.

Elixxer is an investment company with investments in Canada and other countries and is currently looking for new high-growth opportunities to invest in.

We seek Safe Harbor.