Dr. Frederick Sancilio reports

LOBE SCIENCES FILES MANAGEMENT INFORMATION CIRCULAR FOR ANNUAL GENERAL AND SPECIAL MEETING ON JULY 30, 2026

Lobe Sciences Ltd. has filed its notice of annual general and special meeting and management information circular for its coming annual general and special meeting of shareholders, to be held on July 30, 2026.

Highlights:

• The company's annual general and special meeting will be held on Thursday, July 30, 2026, at 11 a.m. Vancouver time, at 15th floor, 1111 West Hastings St., Vancouver, B.C., with virtual attendance available through Microsoft Teams.
• Dr. Frederick D. Sancilio, executive chairman and chief executive officer, provided a letter to shareholders including an update on corporate strategy with a focus on uplisting to a senior exchange and an overview of progress across the company's three subsidiary programs.
• Shareholders will be asked to vote on the election of directors, appointment of an auditor, approval of a new long-term incentive plan, ratification of prior restricted share unit grants and an amendment to the company's constating documents.
• The record date for voting is June 15, 2026, with a proxy/voting instruction deadline of July 28, 2026.

In a letter to shareholders, Dr. Sancilio reiterated the company's platform model, identifying undervalued pharmaceutical assets with strong scientific rationale and significant unmet medical need, advancing them through key development milestones within dedicated subsidiaries, and pursuing strategic transactions intended to return capital to the company and its shareholders.

Dr. Sancilio provided an update on corporate strategy, with a particular focus on the company's planning toward uplisting to a senior exchange. The board believes a senior exchange listing would enhance the company's access to institutional investors, improve trading liquidity, expand analyst coverage and better position the company for its next phase of growth.

Since the current leadership team took control in late 2024, the company's share price and market capitalization have each grown substantially, demonstrating market confidence. Lobe's experienced management team has collectively been involved in more than 1,500 drug development programs approved by the U.S. Food and Drug Administration (FDA) and European regulators.

The letter also provided an update on the company's three active subsidiary programs.

Cynaptec Pharmaceuticals Inc. is advancing L-130, a stabilized crystalline form of psilocin protected by multiple issued U.S. and international patents. A first-in-human safety study was completed in 2024 and reported no serious adverse events and no hallucinations at the study dose. The company is conducting additional preclinical work in support of an investigational new drug filing targeted for late 2026, with additional phase 1 and phase 2a proof-of-concept studies to follow, and is evaluating additional indications for L-130, including generalized anxiety disorder and substance use disorder, based on promising preclinical data.

Applied Lipid Technologies LLC, a wholly owned subsidiary, is developing S-100, a proprietary fatty acid triglyceride formulation for sickle cell disease, building on an extensive prior clinical data set. European and United Kingdom patents have been issued, and a U.S. orphan drug designation application is currently under FDA review. The company is targeting initiation of a phase 2 study in the first half of 2027, following completion of formulation and required regulatory preparatory work.

Alera Pharmaceuticals is the company's third subsidiary, which is currently evaluating potential acquisitions of a new pharmaceutical program, consistent with the company's strategy of expanding its subsidiary portfolio.

Shareholders unable to attend in person may participate through Microsoft Teams using the details provided below and in the circular and accompanying proxy materials.

Meeting ID:  292 086 993 747 933

Passcode:  Km6W9G68

Shareholders can access the full circular on SEDAR+ and on the company's website.

Cynaptec Pharmaceuticals: L-130 -- CNS (central nervous system) therapeutic program

L-130 (psilocin mucate) is a patented, highly bioavailable, orally administered new chemical entity (NCE) designed as a stabilized form of psilocin, the active metabolite of psilocybin. The NCE is designed to provide enhanced stability, improved bioavailability and more consistent circulating levels of psilocin, supporting reliable systemic exposure relative to traditional psilocybin-based approaches. Development of L-130 is being conducted by Cynaptec Pharmaceuticals, a subsidiary of the company in which Lobe holds a 64-per-cent ownership interest.

L-130 is initially being developed for the treatment of chronic cluster headache, a severe neurological condition with limited treatment options. The program is advancing in alignment with guidance received from the FDA following pre-IND (investigational new drug) interactions. Additional applications of L-130 are also progressing forward, consistent with the timeline provided on the company's website.

Applied Lipid Therapeutics: S-100 -- sickle cell disease program

S-100 is an early-stage therapeutic candidate for sickle cell disease being developed through Applied Lipid Therapeutics, a wholly owned subsidiary of the company. It is designed to address underlying disease mechanisms using a lipid-based delivery platform, consisting of a unique blend of triglyceride esters of docosahexaenoic acid (DHA) and eicosapentaenoic acid (EPA), combined with a patented absorption-enhancing excipient system to improve bioavailability. The company is advancing chemistry, manufacturing and controls (CMC) activities to support production of clinical supply for a planned phase 2a study. Orphan drug designation has been applied for and is under review by the FDA.

We seek Safe Harbor.