Item 1.01 Entry into a Material Definitive Agreement

On November 24, 2021, Xenon Pharmaceuticals Inc. (the "Company") entered into a Lease Agreement (the "Lease") with Redstone Enterprises Ltd. pursuant to which the Company will lease approximately 53,023 square feet of rentable office and laboratory space (the "Leased Premises") in the building located at 3650 Gilmore Way, Burnaby, British Columbia, Canada (the "Property"), the Company's headquarters.

The term of the Lease commences on July 1, 2022 and expires on June 30, 2032. The Company has the right of early surrender subject to customary conditions and notice requirements as set forth in the Lease. In addition, the Company has the option to extend the term of the Lease for up to two additional five-year periods for the whole Leased Premises or certain portions of the Leased Premises as set forth in the Lease. The Company will pay an escalating base rent over the term of the Lease ranging from CAD $92,790 to $128,139 per month, as set forth in the Lease and a pro rata portion of taxes and operating expenses for the Property.

The foregoing description of the Lease is not complete and is qualified in its entirety by reference to the full text of the Lease, a copy of which is filed as Exhibit 10.1 to this Current Report on Form 8-K and is incorporated by reference herein.

Item 2.03 Creation of a Direct Financial Obligation or an Obligation under

an Off-Balance Sheet Arrangement of a Registrant

The information set forth above in Item 1.01 of this Current Report on Form 8-K regarding the Lease is incorporated into this Item 2.03 by reference.

Item 9.01 Financial Statements and Exhibits

(d) Exhibits.



Exhibit Number Description
10.1             Lease Agreement, dated as of November 24, 2021, by and between
               the Company and Redstone Enterprises Ltd.
104            Cover Page Interactive Data File (embedded within the Inline XBRL
               document).

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