Acquisition of APIRx

For personal use only Topical cannabinoid development Problem Hundreds of millions of people suffer with skin diseases that involve inflammation and/or microbial infection. Solution APIRX has developed and patented a combination of CBD and CBG, a minor cannabinoid that also has potent anti-inflammatory activity, in a topical formulation. Combines anti-inflammatory activity with antimicrobial activity of CBD/CBG to treat skin diseases. *#0 Competitive Advantage There are no topical cannabinoid products that currently have regulatory approval for any condition. Results APIRX has formulated a topical CBD/CBG product and completed in-human proof of concept studies in three different skin diseases. Proof of concept clinical data with dosing for 6 weeks Vitiligo 10% improvement LLNext Steps: Psoriasis up to 33% improvement Patents pending for compositions and methods of use for treatment of each of the three indications. Pre-IND meeting with FDA. Incannex Atopic dermatitis up to 22% improvement Drug product was well tolerated Addressable Market (a) Vitiligo US$ 1.2B Psoriasis US$ 26.4B Atopic dermatitis US$ 11.8B Associated Total Direct Healthcare Costs (U.S.) of Skin Disease in '21 Lead Assets a) Frost & Sullivan Market Report as commissioned by APIRX, Oct. 2021 Shareholder Presentation 21

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