Quantum Biopharma warrants issued to funds expire

Mr. Zeeshan Saeed reports QUANTUM BIOPHARMA LTD. ANNOUNCES EXPIRATION OF ALL WARRANTS HELD BY HEDGE FUNDS AND RE-ITERATES OCTOBER 27, 2025, RECORD DATE FOR THE DISTRIBUTION OF A SPECIAL DIVIDEND Quantum Biopharma Ltd. saw the expiration at 5 p.m. EST of 53,147 warrants (originally 3,454,543 warrants issued prereverse stock split (one for 65)). All warrants were issued to hedge funds and investment funds as part of a previous financing completed on Oct. 20, 2020. This represents the very last tranche of warrants issued to hedge funds and investment funds. Quantum Biopharma also reiterates Oct. 27, 2025, as the record date for the distribution of contingent value rights to holders of its Class B subordinate voting shares on a one-for-one basis, advancing the company's previously disclosed plan in the company's press releases dated June 13, 2025, and Oct. 3, 2025, to deliver a litigation-linked CVR to shareholders of record as of the record date. Each CVR will entitle the holder to receive a pro rata portion of a minimum of 10 per cent and up to 50 per cent of the net proceeds ultimately recovered by the company in connection with its legal action against CIBC World Markets, RBC Dominion Securities and others, which alleges stock price manipulation and spoofing and seeks damages in excess of $700-million (U.S.). No payment will occur under the CVRs unless and until the company receives net proceeds from the litigation following a settlement or a final, non-appealable judgment. There is no guarantee that any net proceeds will be received or that any payment will be made under the CVRs as a result of the litigation. The CVRs: Will not be listed on any exchange or marketplace; Will be non-transferable and non-assignable; Will not carry interest or voting rights; Will be redeemable only for cash and only in the event that the company receives net proceeds from the resolution of the litigation (whether by settlement or final judgment). The source of any potential payment on the CVRs will be solely from the company's qualifying net proceeds from the litigation, and no payments will be due unless and until such qualifying net proceeds are actually received by the company after deduction of applicable fees, expenses and costs as contemplated by the CVR framework previously described. Except with respect to qualifying net proceeds, the CVR does not entitle the holder to any other monetary or financial rights of any kind. The distribution date for the CVRs cannot be determined at this time as it is contingent upon the company receiving qualifying net proceeds from the litigation. There is no assurance that any such proceeds will be received or that any payment will be made under the CVRs. About Quantum Biopharma Ltd. Quantum Biopharma is a biopharmaceutical company dedicated to building a portfolio of innovative assets and biotech solutions for the treatment of challenging neurodegenerative and metabolic disorders and alcohol misuse disorders with drug candidates in different stages of development. Through its wholly owned subsidiary, Lucid Psycheceuticals Inc., Quantum Biopharma is focused on the research and development of its lead compound, Lucid-MS. Lucid-MS is a patented new chemical entity shown to prevent and reverse myelin degradation, the underlying mechanism of multiple sclerosis, in preclinical models. Quantum Biopharma invented unbuzzd and spun out its over-the-counter version to a company, Celly Nutrition Corp., now Unbuzzd Wellness Inc., led by industry veterans. Quantum Biopharma retains ownership of 20.10 per cent (as of June 30, 2025) of Unbuzzd Wellness. The agreement with Unbuzzd Wellness also includes royalty payments of 7 per cent of sales from unbuzzd until payments to Quantum Biopharma total $250-million. Once $250-million is reached, the royalty drops to 3 per cent in perpetuity. Quantum Biopharma retains 100 per cent of the rights to develop similar products or alternative formulations specifically for pharmaceutical and medical uses. Quantum Biopharma maintains a portfolio of strategic investments through its wholly owned subsidiary, FSD Strategic Investments Inc., which represents loans secured by residential or commercial property. We seek Safe Harbor.