Mr. Francois Roberge reports

LSL PHARMA GROUP ANNOUNCES THE FIRST INTEREST PAYMENT ON THE CONVERTIBLE DEBENTURES LISTED AS LSL.DB

On Oct. 31, 2024, LSL Pharma Group Inc. will make the first interest payment on its outstanding unsecured redeemable debentures listed on the TSX Venture Exchange under symbol LSL.DB. The corporation will pay to each debentureholder an amount of $113.025 per $1,000 principal amount of debentures, which represents accrued interest payable from Nov. 1, 2023, to Oct. 31, 2024.

The debentures, which may be redeemed by the corporation, have a maturity date of Oct. 31, 2028, and accrue interest at a rate of 11 per cent per year (from Oct. 31, 2024, to but excluding April 30, 2025, subject to adjustments thereafter), payable semi-annually on the last day of April and October of each year, with the next interest payment to take place on April 30, 2025. At the holders' option, the debentures may be converted into Class A shares of the corporation at any time and from time to time, up to the maturity date, at a conversion price of 70 cents per Class A share.

For additional details regarding the debentures, please refer to the debenture indenture dated Nov. 1, 2023, which is available under LSL Pharma's issuer profile on SEDAR+.

About LSL Pharma Group Inc.

LSL Pharma Group is an integrated, Canadian-based pharmaceutical company specializing in the development, manufacturing and commercialization of high-quality sterile ophthalmic pharmaceuticals, as well as natural health products in solid and liquid dosage forms.