Acquisition of APIRx

For personal use only 22 Projects over which proof of concept has been established in either pre-clinical, phase 1 or phase 2 clinical studies. Established drug formulations with data packages necessary for regulatory applications. Proof of concept data from pre-clinical and clinical studies supporting the proposed therapeutic applications. Regulatory filings for multiple drug products. Granted and pending patents for manufacturing methods, drug formulations and methods of use to treat a range of conditions. - Covers the entire drug development process from raw materials to patient dosing. Different cannabinoid development strategy than IHL's current programs. - APIRX focuses on unique cannabinoid formulations whereas IHL programs are cannabinoid combination products. Incannex Clincial Project MedChewTM-1401 Pain and Spasticity in Multiple Sclerosis MedChew™M GB Post-herpatic Neuralgia MedChew™-1502 Parkinson's Disease MedChewTM-1503 Dementia MedChewTM RL Restless Legs Syndrome MedChew™ Dronabinol Nausea and Vomiting in Chemotherapy APIRX 1505 Flotex Gastro: Chrohn's Disease CanChew Plus Gastro: IBS CanChew RX Gastro: IBD SuppoCan (Suppository) Gastro: IBD Oraximax Gingivitis and Periodontitis Addressable Market Opportunity (in US$) $62B (Global) in '21 (a) $3.7B (U.S.) by '27 (n) $8.05B (Global) by '27; 6.5% CAGR (1) $23.9B (Global) by '28; 7.9% CAGR (m) 12.1.% prevalence of U.S. pop. (j) $3.1B (Global) by '24 (e) $12.6B (Global) by '24 (k) $40B (U.S.) in '21 (d) $2.78B (U.S.) by '28 (r) $2.78B (U.S.) by 28 (r) $42B (U.S. and Europe) in '21 (a) (a) Frost & Sullivan Market Report as commissioned by APIRX, Sept. 2021 (d) Frost & Sullivan Market Report as commissioned by APIRX, Sept. 2021, market opportunity is Irritable Bowel Syndrome / Disease (e) Healdkeepers, "Chemotherapy Induced Nausea and Vomiting (CINV) Drugs Market Research Report, History and Forecast 2022-2027", Jan. 2, 2022 () Straits Research: Home Care Sleep Screening Devices Market Stage of Development Pre-clinical Pre-clinical Pre-clinical Pre-clinical Pre-clinical Phase 1A completed Pre-clinical Phase 2A Completed Pre-clinical Pre-clinical Clinical Stage Regulatory Stage of Development Pre-IND completed in NL and Switzerland FDA Pre-IND FDA Pre-IND FDA Pre-IND FDA Pre-IND FDA Pre-IND completed Pre-regulatory Pre-IND, ethical approval Pre-regulatory Pre-regulatory 510(k) pre-market submission to FDA Next Steps (1) Global Market Insights, "Parkinson's Disease Therapeutics Market", Base Year 2020 (m) Accurize Market Research, "Dementia Drugs Treatment Market", Nov. 27, 2021 Phase 1 Phase 1 Phase 1 Phase 1 Phase 1 Phase 1B Phase 1 Phase 2B Phase 1 Phase 1 Phase 2 (n) Comserve,"U.S. Shingles Vaccine Market", Jan. 4, 2022 (r) Coherent Market Insights "Inflammatory Bowel Disease Market Analysis", Sept. 2021. Relevant Patents Shareholder Presentation Granted Granted Granted Granted Granted Granted Drafting Granted Granted (k) Heraldkeepers, "Crohn's Disease Drugs Market Research Report 2022: Prospects, Trends Analysis, Market Size and Forecasts to 2027", Jan. 2, 2022 Granted Granted 7

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