Mr. Jacek Antas reports

HELIX BIOPHARMA AMENDS ACQUISITION AGREEMENTS TO FINALISE SHARE CONSIDERATION AHEAD OF POTENTIAL FINANCING

Helix BioPharma Corp., further to its news releases dated Nov. 29, 2024, and Dec. 2, 2024, has entered into amendment agreements with each of Laevoroc Immunology AG and Laevoroc Chemotherapy AG to amend the consideration payable under the asset purchase agreements dated Nov. 28, 2024, and Nov. 30, 2024, respectively.

Pursuant to an amendment agreement between the company and Laevoroc Immunology dated Dec. 5, 2024, the company and Laevoroc Immunology have agreed to amend the immunology agreement to set the number of common shares issuable upon closing at 11,555,076 common shares, rather than a floating percentage of 16.5 per cent of the number of issued and outstanding shares as of the closing date.

Similarly, pursuant to an amendment agreement between the company and Laevoroc Chemotherapy dated Dec. 5, 2024, the company and Laevoroc Chemotherapy have agreed to amend the chemotherapy agreement to set the number of common shares issuable upon closing at 9,454,153 common shares, rather than a floating percentage of 13.5 per cent of the number of issued and outstanding shares as of the closing date.

The company amended the terms as a result of a potential financing deal that may close before the closing of the transactions, which, if consummated, would have led to unintended dilution and valuation adjustments. Management believes this approach allows the company greater flexibility to negotiate financing terms while protecting shareholder value.

All shares issuable in connection with the transactions will be subject to a hold period of four months and one day from the date of issuance.

Both transactions are subject to the approval of the Toronto Stock Exchange and certain closing conditions of transactions of a similar nature. The transactions are also subject to the approval of the company's shareholders, which the company anticipates obtaining through written consent.

For more information on the transactions, please see the company's news releases dated Nov. 13, 2024, Nov. 29, 2024, and Dec. 2, 2024.

About Helix BioPharma Corp.

Helix BioPharma is a clinical-stage biopharmaceutical company developing unique therapies in the field of immune-oncology for the prevention and treatment of cancer based on its proprietary technological platform DOS47.

We seek Safe Harbor.