Mr. Bill Adams reports

NERVGEN PROVIDES QUARTERLY "AT-THE-MARKET" EQUITY PROGRAM AND GRANT OF OPTIONS UPDATE

Nervgen Pharma Corp. has provided a quarterly update with respect to the company's previously announced at-the-market equity program launched on Dec. 19, 2025. The ATM program allows the company to issue and sell common shares in the capital of the company to the public from time to time through Stifel Nicolaus Canada Inc. at the company's discretion and subject to regulatory requirements.

During the quarterly period ended June 30, 2025, the company issued and sold 385,200 common shares under the ATM program at a weighted-average price of $2.95 per common share for aggregate gross proceeds of $1,134,466. The company paid cash placement fees of $22,689 to the agent, resulting in aggregate net proceeds of $1,111,777.

The company announced as well that it granted 200,000 stock options to a director of the company. The options are exercisable at a price of $3.55 per share and are exercisable for a period of five years and vest equally every three months over a one-year period. All options have been granted in accordance with the policies of the TSX Venture Exchange and the conditions of the company's stock option plan.

About Nervgen Pharma Corp.

Nervgen is a clinical-stage biotech company dedicated to developing innovative treatments to promote nervous system repair in settings of neurotrauma and neurologic disease. The company is testing the clinical efficacy of its lead candidate, NVG-291, in the phase 1b/2a Connect SCI study clinical trial in spinal cord injury. Top-line data from the chronic cohort (one to 10 years postinjury) of this trial showed that NVG-291 met its primary end point and demonstrated strong trends in a secondary end point assessing hand function. Complete analysis of the chronic cohort is continuing. Enrolment in the subacute cohort (20 to 90 days postinjury) of the trial continues, and more information about participation in the subacute study is available. In addition, the company has initiated preclinical test of concept evaluation of its pipeline candidate, NVG-300, in models of ischemic stroke and spinal cord injury.

We seek Safe Harbor.