Incannex Undertakes A$13 Million Institutional Placement; Increasing Cash to Fund Clinical Programs into 2025

Highlights:

• Firm commitments received for a A$13M institutional Placement
• Incannex will have a pro-forma cash position of ~A$45M on completion of the Placement
• The Placement was undertaken by a small consortium of international funds that undertook
extensive due diligence
• Increased funding ensures that the Company’s expansive clinical development pipeline will be
fully funded into 2025, with only 4.2% equity dilution
• Each participant to the Placement will be offered one New Option for no additional
consideration for every New Share issued under the Placement.