Acquisition of APIRx

U LL Incannex Clincial Project CheWell Addiction: Cannabis Dependence CanQuit Addiction: Tobacco Smoking Cessation CanQuit O Addiction: Opioid Addiction APIRX-1601 Skin: Vitiligo APIRX-1602 Skin: Psoriasis APIRX-1603 Skin: Atopic Dermatitis APIRX-1701 Opth: Glaucoma APIRX-1702 Opth: Dry Eye Syndrome APIRX-1801 Ultrapure THC APIRX-1802 Ultrapure CBD APIRX-1803 Ultrapure CBG Addressable Market Opportunity (in US$) $64B (U.S.) in '21 (c) $47.75B (Global) by '24, 17.3% CAGR (0) $64B (U.S.) in '21 (c) $0.1B (Global) in '21 (b) $0.5B (Global) in '21 (b) $1.1B (Global) in '21 (b) $10.4B (Global) by '26, 6.3% CAGR (g) $6.6B (Global) by '27, 6.4% CAGR (p) $31.5B (Global) by '30; 18.6% CAGR (q) $31.5B (Global) by '30; 18.6% CAGR (q) $31.5B (Global) by '30; 18.6% CAGR (q) (b) Frost & Sullivan Market Report as commissioned by APIRX, Sept. 2021, market opportunity is medications and other, where other includes visits to physicians, in/out patient costs (c) Frost & Sullivan Market Report as commissioned by APIRX, Sept. 2021, market opportunity is Adolescent Substance Abuse (g) ResearchandMarkets, "Outlook on the Glaucoma Therapeutics Global Market", 2020-2026", Oct. 22. 2021 Stage of Development Pre-clinical Pre-clinical Pre-clinical Phase 2 completed Phase 2A completed Phase 2A completed Pre-clinical Pre-clinical Developed Developed Developed Regulatory Stage of Development Pre-IND ready for submission Pre-regulatory Pre-regulatory Pre-IND drafting Pre-IND drafting Pre-IND drafting Pre-regulatory Pre-regulatory Next Steps Phase 1 Phase 1 Phase 1 Phase 1 Phase 1 Phase 1 in vitro studies in vitro studies (0) Worldwide Market Reports, "Smoking Cessation and Nicotine De-Addiction Products Market", May 2018 (p) Future Market Insights,"Dry Eye Syndrome Treatment Market", July 2017 (q) Precedence Research "Cannabis Extract Market", Mar. 2020; includes THC, CBD, CBG and other Shareholder Presentation Relevant Patents Drafting Granted Granted 2x Granted, 1x Pending 2x Granted, 1x Pending 2x Granted, 1x Pending Granted Granted Granted Granted Granted 8

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