Mr. Ken d'Entremont reports

MEDEXUS ANNOUNCES NORMAL COURSE ISSUER BID, OR NCIB, FOR ITS COMMON SHARES

The Toronto Stock Exchange has accepted Medexus Pharmaceuticals Inc.'s notice of intention to make a normal course issuer bid, or NCIB, for its common shares (TSX: MDP). Under the NCIB, Medexus may purchase for cancellation up to 2,983,650 common shares, representing approximately 10 per cent of the public float as defined under TSX rules. As of Nov. 12, 2025, 32,420,060 common shares were outstanding and Medexus had a public float of 29,836,506 common shares.

"We intend to carefully monitor the market price of the common shares," said Brendon Buschman, Medexus's chief financial officer. "Purchases under this new NCIB could be an appropriate use of our available funds, where we believe the market price of the common shares may be undervalued. Any such purchases we make will benefit the company and its investors by seeking to uphold a liquid, stable and orderly market for our common shares."

Purchases under the NCIB may commence on Nov. 24, 2025, and continue through Nov. 23, 2026, or such earlier date as Medexus completes the maximum aggregate purchases permitted under the NCIB. The NCIB will be conducted by means of open market transactions through the facilities of the TSX or alternative Canadian trading systems at the prevailing market price on the TSX or applicable alternative Canadian trading system at the time of purchase or as otherwise permitted. The NCIB will be funded using Medexus's general funds. Any common shares purchased by Medexus under the NCIB will be cancelled.

During the six months ended Oct. 31, 2025, the average daily trading volume, or ADTV, of the common shares on the TSX was 40,066. Accordingly, under TSX rules and policies, purchases under the NCIB on any trading day will be limited to a maximum of 10,016 common shares, being 25 per cent of the ADTV, other than any purchases made in accordance with the TSX's block purchase exception.

About Medexus Pharmaceuticals Inc.

Medexus is a leading specialty pharmaceutical company with a strong North American commercial platform and a growing portfolio of innovative and rare disease treatment solutions. Medexus's current focus is on the therapeutic areas of hematology and hematology-oncology and rheumatology and allergy.

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