Lobe Sciences : Corporate Presentation

Corporate Presentation

October 11, 2023

Disclaimer

IMPORTANT NOTICE.

This presentation ("Presentation") is an overview of Lobe Sciences Ltd. (the "Company") and is for information purposes only and should not be relied on for the purposes of making an investment decision. This Presentation does not, and it is not intended to, provide any financial, legal, accounting, or tax advice, and must not be relied upon by you in that regard. The Presentation should not be used, or relied upon by you, as a substitute for your independent research or consultation with your own financial, legal or tax advisors. There are significant risks associated with an investment in the Company.

The information contained in this Presentation has been provided by the Company or obtained from publicly available sources or third-party sources and has not been independently verified. While the Company has not verified third party information, nevertheless, it believes that it obtained the information from reliable sources and has no reason to believe it is not accurate in all material respects. No representation or warranty express or implied is made as to, and no reliance should be placed on, the fairness, accuracy, completeness or correctness of the information or any opinions contained herein and nothing in this Presentation is, or shall be relied upon as, a promise or representation by the Company. It is not the intention to provide, and you may not rely on these materials as providing, a complete or comprehensive analysis of the Company's financial or trading position or prospects. The information and any opinions presented herein are provided as at the date of this document based on general information gathered at the time of writing and are subject to change without notice. None of the Company nor any of its affiliates, directors, officers, employees, advisors or representatives shall have any liability whatsoever (in negligence or otherwise) for any loss howsoever arising from any use of these materials or its contents or otherwise arising in connection with this Presentation. This Presentation and any related oral presentations do not constitute an offer or invitation to subscribe for, purchase or otherwise acquire any securities or other debt instruments of the Company and nothing contained herein shall form the basis of any contract or commitment whatsoever, nor does it constitute a recommendation regarding the securities of the Company.

All dollar amounts stated in this Presentation are expressed in United States currency, except where otherwise indicated.

FORWARD-LOOKING INFORMATION & FORWARD-LOOKING STATEMENTS CAUTIONARY STATEMENT

Certain statements in this Presentation may constitute forward-looking information, including future-oriented financial information and financial outlooks, within the meaning of applicable securities laws. This Presentation contains forward-looking information relating to the Company's future outlook and anticipated events or results and may include statements regarding its financial results, future capital expenditures, cash flow, investment payouts, valuations, plans, objectives, potential synergies, industry trends, growth opportunities and other matters ("forward-looking statements"). These statements relate to future events or future performance. Forward-looking statements are often, but not always, identified by the use of words such as "anticipate", "budget", "plan", "estimate", "expect", "forecast", "may", "might" "will", "project", "potential", "target", "intend", "could", "might", "should", "believe" , "likely", and similar expressions or variations (including negative variations) of such words or phrases.

Forward-looking statements are based on the opinions, assumptions and estimates of management at the date the statements are made, and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those anticipated in the forward-looking statements. Although management believes that the expectations reflected in the forward-looking statements are reasonable, there can be no assurance that such expectations will prove to be correct. These statements are not guarantees of future performance and involve known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in the forward-looking information or forward-looking statements. These risks, uncertainties and other factors include, but are not limited to risks associated with general economic conditions; adverse industry events; marketing costs; loss of markets; future legislative and regulatory developments; inability to access sufficient capital from internal and external sources, and/or inability to access sufficient capital on favorable terms; the ability of the Company to implement its business acquisition strategies, and the other risks common for a business such as the Company's. The foregoing factors are not intended to be exhaustive. Although the company has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results to differ from those. The Company cannot guarantee future results, level of activity, performance or achievements and there is no representation that the actual results achieved will be the same, in whole or in part, as those set out in the forward-looking statements. The forward-looking statements contained in this Presentation are expressly qualified by this cautionary statement. The Company undertakes no obligation to update or revise publicly any forward-looking statements except as required by applicable securities legislation.

The forward-looking statements made herein relate only to events or information as of the date on which the statements are made. The reader is cautioned not to place undue reliance on forward-looking statements.

This presentation contains information regarding the past performance of a company, including but not limited to the financial information of this Presentation. Recipients of this Presentation should be aware that that past performance should not be relied upon as being indicative of future performance.

Lobe Sciences Ltd. is publicly traded on the Canadian Stock Exchange under the ticker LOBE and more information on Lobe Sciences can be found on the CSE website at https://thecse.com/en/listings/life-sciences/lobe-sciences-ltd

Not for public distribution and not for release or distribution outside Canada.

Importantly, the distribution of this Presentation in other jurisdictions outside Canada may also be restricted by law and any such restrictions should be observed. Any failure to comply with such restrictions may constitute a violation of applicable securities laws.

Our Vision

To Develop and Deliver transformative therapeutic solutions

to treat and cure rare diseases

PHILIP

J. YOUNG

Chairman & CEO

Mr. Young has served as a Director and Chief Executive Officer for public companies for the past 20 years where has had created significant shareholder value, built integrated scientific, manufacturing and commercial operations, directed successful M&A transactions and was responsible for generating more than $900M through acquisitions and equity financings.

OUR TEAM

MATHEW

LEE,

CPA

Chief Financial Officer

Mathew has over 15 years of experience as a finance executive currently serving as president of Manning Lee Management Ltd., providing CFO services to publicly traded companies. Mathew specializes in providing M&A, accounting, management, securities regulatory compliance, and corporate secretarial services.Mathew is a CPA Charterholder and earned a B.Comm from the University of British Columbia.

MAGHSOUD

DARIANI

Chief Science Officer

Prior to leading science and technology efforts at LOBE, Dariani was President of Focus Pharmaceuticals, Inc., where he managed the development and approval of drug products, achieving one FDA approval and bringing another to the clinical evaluation stage, then successfully negotiated the sale of the company in February 2003.

BAXTER

PHILLIPS III

Director. & COO

Baxter is a seasoned life sciences executive whose experience spans the continuum from preclinical drug research and manufacturing to product launch, commercialization and operations management and finance. In his 20+ years in the pharmaceutical industry he has served as a director and C-Level executive and director of multiple public and private companies, including Insmed (INSM), Asertio (ASRT), and Neurogastrx. He has a B.S. in Biology from Hampden-Sydney College and an MBA from The Mason School of Business at the College of William and Mary.

MICHAEL

PETTER

Director

Michael is an accomplished leader and entrepreneur in the psychedelics and cannabis industry, co-founding and acting as a director of several companies that successfully completed M&A transactions. He holds a Bachelors in Computer Science from London University and is a chartered engineer and private pilot. Since January 2009, he has been the Managing Director of Eyvo eProcurement Solutions, a US-based private company that is a leading eProcurement provider in the SaaS space. Mike was co-founder and director of Eleusian Biosciences Corp., which the company acquired in July 2020.

FREDERICK D.

SANCILIO, MS,

PhD.

Regulatory, CMC, Clinical Development

Dr. Sancilio is a serial entrepreneur in the healthcare field and is currently a principle of Clearway Global, Inc., a pharmaceutical development advisory service. He has served as an executive and director of both private and public companies, including Applied Analytical Industries, Inc., aaiPharma, Inc., Endeavor Pharmaceutical Company, Aesgen, Inc., Sancilio & Company, Alpha Cognition, Inc., TrippBio, Inc., Omega Blu, LLC, and Nation's Bank of North Carolina. He was appointed as a Research Professor at Florida Atlantic University and was an adjunct professor of chemistry at the University of North Carolina. Dr. Sancilio received his Master of Science and Doctorate degrees from Rutgers, The State University of New Jersey.

Rare Disease Focus w/ a Commercial Product

Commercial stage drug development biotechnology company focused on developing medicines to

benefit patients of all ages with rare disease

Inspired by the resurgence in psychedelics we are engaged in the development of non-hallucinatory drugs

based on stabilized psilocin compounds

• Chronic Cluster Headaches (CCH)
• • L-130
  • First in man Ph 1 Q2 2023
  • SAD & MAD studies Q4 2023
  • Phase 2 in Australia H 1 2024
• Pediatric Orphan Disease (Undisclosed target)
• • L-131
  • Preclinical study
  • Orphan Application with FDA
  • Potential Priority Review Voucher
• Sickle Cell Disease (SCD)
• • Altemia Medical Food Launch H2 2023
  • Follow on Rx product for children with SCD in development
  • Orphan Indication and potential Priority Review Voucher

Chronic Cluster Headaches

L-130

Chronic Cluster Headaches: Debilitating pain with inadequate treatment options

• ~330,000 Cluster Headaches in the USA annually

• Chronic Cluster Headache afflicts <100K, and qualifies as an Orphan Indication
• Pain of the Headache is the most intense human pain reported
• • Cluster headaches are considered the most painful…..; rated approximately 2x as painful as migraines
• Off-labelpolypharmacy is current standard of care

Headache. 2021 Jan; 61(1): 117-124.

Chronic Cluster Headache: Market Opportunity

Cluster Headaches

• Global episodic and chronic market forecast to be $626B 2030
• Annualized growth rate through 2030 of 6.8%
• New primary treatments to abort CH are needed
• Existing triptans in various formulations are marginally effective, oxygen is commonly used
• Results of a 2006 study conducted at Harvard Medical School using psilocybin mushrooms:
• • 22 of 26 (85%) patients said psilocybin aborted their attacks.
  • 25 of 48 (52%) patients said cluster cycle was terminated.
  • 18 of 19 (95%) patients said psilocybin extended their remission periods
• Danish study in 2020
• • Psilocybin as a prophylactic for Chronic Cluster Headaches
  • 30% reduction in headaches across all patients
  • One patient experienced complete remission for 21 weeks

L-130: Proprietary Stable Psilocin Conjugate for CCH

• L-130:New Chemical Entity (NCE) with IP filed in 2022/2023
• • Established exclusive Schedule 1 manufacturing under GMP conditions in the US
  • Ongoing stability studies demonstrate long term shelf life adequate for pharmaceutical development
  • No degradation after ambient and accelerated stability conditions to date
  • Novel MOA leads to rapid absorption after oral dose without hallucinations
• L-130Clinical Development:

•	First-in-man Phase 1 study dosing completed; result to be reported	Q3 2023
•	Single Ascending Dose (SAD) Study in Normal Healthy Human Subjects	Q4 2023
•	Multiple Ascending Dose (MAD) Study in Normal Healthy Subjects	Q1 2024
•	Phase 2a Study in Patients as Proof of Concept (POC) Study	Q1 2024
•	Phase 2/3* Adaptive Trial Australia	Q2/3 2024

* Orphan Disease Products only require 1 Ph 3 study

L-130Pre-Clinical and Regulatory

Pre-Clinical
• Pre-Clinical 28 Day Tox Study	Q4 2023
• Pre-Clinical6-month Tox Study	H2 2024
• Study To Determine Dosing Frequency in Rodents Tx of CCH Anxiety	Q4 2023

	Regulatory
• IND filing for CCH Phase 2/3 Trial	H1 2024
•	Pediatric orphan drug designation w/ priority review voucher (L-131)	H1 2024
•	Product Stability, Formulation and DEA activities	ongoing