An anonymous director reports

PSYENCE GROUP INC. CLOSES SECOND TRANCHE OF NON-BROKERED PRIVATE PLACEMENT FOR REMAINING PROCEEDS

Psyence Group Inc. has closed the second tranche of its previously announced non-brokered private placement, relying on the accredited investor exemption under Section 2.3 of National Instrument 45-106 (Prospectus Exemptions).

Under the offering, the company issued a total of six million common shares at a subscription price of 10 cents per share to raise gross proceeds of $600,000, divided into two tranches:

• Tranche one (closed June 25, 2025): 4.76 million common shares issued for gross proceeds of $476,000;
• Tranche two (closed July 4, 2025): 1.24 million common shares issued for gross proceeds of $124,000.

All securities issued under the offering are subject to a four-month-and-one-day hold period in accordance with Canadian securities regulations, which resale restrictions may extend beyond four months and one day following the completion of certain transactions.

Net proceeds from the offering will be used to support the company's continuing general working capital needs, including operational expenses and strategic growth initiatives.

About Psyence Group Inc.

Psyence is a life science biotechnology company listed on the Canadian Securities Exchange, with a focus on natural psychedelics. Psyence works with nature-derived psilocybin products for the healing of psychological trauma and its mental health consequences in the context of palliative care. Its name Psyence combines the words psychedelic and science to affirm its commitment to producing psychedelic medicines developed through evidence-based research.

Informed by nature and guided by science, Psyence works to develop advanced nature-derived psilocybin products for clinical research and development.

We seek Safe Harbor.