Quantum BioPharma Ltd. Provides Corporate Update

Executive Summary

• Quantum BioPharma announced it may sell up to US$21,225,000 of Class B Subordinate Voting Shares under its existing ATM Agreement with H.C. Wainwright & Co.
• Proceeds are intended for clinical studies, R&D programs, general corporate purposes and working capital.
• The offering will be conducted on a “at‑the‑market” basis in the United States; no shares will be sold on the Canadian Securities Exchange.

Key Details

• Offering Structure: At‑the‑Market (ATM) equity offering of Class B Subordinate Voting Shares, up to US$21,225,000 aggregate offering price.
• Sales Agent/Commission: H.C. Wainwright & Co., LLC will act as sales agent; a cash commission of 3.0% on gross proceeds will be paid to Wainwright.
• Pricing Mechanism: Shares will be sold at prevailing market prices at the time of each transaction; pricing may vary between purchasers and over time.
• Geographic Scope: Sales will occur on Nasdaq or directly in the U.S.; no sales on the Canadian Securities Exchange (CSE) or other Canadian markets.
• Use of Proceeds:
  1. Funding various clinical studies, trials and development programs.
  2. Supporting research and development activities.
  3. General corporate purposes and working capital.
• Regulatory Filings: Offering made pursuant to a registration statement on Form F‑3 (File No. 333‑276264) declared effective January 4, 2024; prospectus supplement dated October 31, 2025 filed with the SEC.
• Discretionary Timing/Volume: The company may determine timing and volume of sales at its sole discretion in accordance with the ATM Agreement.

Notable Quotes

(No executive quotes were included in the release.)