Mr. Imran Gibbons reports

VELAN ANNOUNCES ELECTION OF DIRECTORS

Each director nominee listed in the management proxy circular dated July 9, 2026, was elected as director of Velan Inc. during the annual meeting of the shareholders of the corporation, held on Aug. 25, 2026, in Montreal, Que.

The details of the election are provided in the attached table.

Following the annual meeting of shareholders, the board of directors have appointed Patrick G. Duncan as chair of the board and Daniel Desjardins as lead director of the corporation.

The results of the final votes regarding all matters subject to a vote during the annual meeting will be made available under the corporation's profile on SEDAR+.