Vancouver, British Columbia --( Newsfile Corp. - November 2, 2026 ) - InMed Pharmaceuticals Inc. (NASDAQ: INM) (" InMed " or the " Company "), a pharmaceutical company focused on developing a pipeline of proprietary small molecule drug candidates for diseases with high unmet medical needs, today announced that, pursuant to the previously announced agreement and plan of merger and reorganization dated May 19, 2026 (as amended, the " Merger Agreement ") providing for the proposed merger (the " Merger ") involving Mentari Therapeutics, Inc. (" Mentari "), the Company expects to consolidate all of its issued and outstanding Common Shares on the basis of one (1) post-consolidation Common Share for each ten (10) pre-consolidation Common Shares (the " Consolidation "). The Consolidation was approved by the Company's Board of Directors in accordance with the Company's Articles and the Business Corporations Act ( British Columbia ) (the " BCBCA ") and does not require the approval of shareholders of the Company; however, the Company will only proceed with the Consolidation if the approval of shareholders of the Company at the annual general and special meeting of the Company scheduled to be held on November 4, 2026 (the " Meeting ") is obtained in respect of Proposal No. 1 (the " Nasdaq Share Issuance Proposal"), Proposal No. 2 (the " Return of Capital Proposal "), and Proposal No. 3 (the " Redomestication Proposal ", and collectively with the Nasdaq Share Issuance Proposal and the Return of Capital Proposal, the " Proposals "), each as described in the Company's registration statement on Form S-4 that includes a proxy statement/prospectus of the Company and a management information circular, which was declared effective by the U.S. Securities and Exchange Commission (the " SEC ") on October 1, 2026 . If completed, the Consolidation would result in the number of issued and outstanding Common Shares being reduced from 5,493,735 to approximately 549,374 Common Shares on a non-diluted basis (prior to giving effect to the Merger), and each shareholder would hold the same percentage of Common Shares outstanding immediately after the Consolidation as such shareholder held immediately prior to the Consolidation. The exercise price and number of Common Shares issuable upon the exercise of outstanding stock options, warrants or other convertible securities will be proportionately adjusted to reflect the Consolidation in accordance with the terms of such securities. Per the requirements of the BCBCA, if, as a result of the Consolidation, a shareholder becomes entitled to a fractional share, such fractional share will be rounded up to the nearest whole number if 0.5 or greater and down to the nearest whole number if less than 0.5, and no cash or other consideration will be paid in respect of rounding. Subject to and conditional upon approval of the Proposals, the Company anticipates that the Consolidation will be completed after market close on November 4, 2026 , following the Meeting. If the Consolidation is completed, the Company anticipates that the post-Consolidation Common Shares will begin trading on the Nasdaq Capital Market (" Nasdaq ") on a Consolidation-adjusted basis at market open on November 5, 2026 under a new CUSIP (457637809) and ISIN (CA4576378091). About InMed InMed Pharmaceuticals is a pharmaceutical company focused on developing a pipeline of proprietary small molecule drug candidates targeting the CB1/CB2 receptors. InMed's pipeline consists of three separate programs in the treatment of Alzheimer's, ocular and dermatological indications. For more information, visit www.inmedpharma.com . Investor Contact Colin Clancy Vice President, Investor Relations and Corporate Communications T: +1 604 416 0999 E: ir@inmedpharma.com Cautionary Note Regarding Forward-Looking Information This news release contains "forward-looking information" and "forward-looking statements" (collectively, "forward-looking information") within the meaning of applicable securities laws. Forward-looking statements are frequently, but not always, identified by words such as "expects", "anticipates", "believes", "intends", "potential", "possible", "would" and similar expressions. Such statements, based as they are on current expectations of management, inherently involve numerous risks, uncertainties and assumptions, known and unknown, many of which are beyond our control. Forward-looking information is based on management's current expectations and beliefs and is subject to a number of risks and uncertainties that could cause actual results to differ materially from those described in the forward-looking statements. Without limiting the foregoing, forward-looking information in this news release includes, but is not limited to, statements about: the date of the Meeting and approval of the Proposals; the expected timing of the closing of the Merger; and the completion, timing, conditionality and effects of the Consolidation, including the e