These risks and uncertainties include, among others, the risk that: (i) any anticipated executive order or other governmental action is not issued, is delayed, or differs from current expectations; (ii) that any such action does not result in expanded research opportunities, clearer regulatory pathways, or any benefit to the Company; (iii) changes in laws, regulations or enforcement priorities in the United States, Southern Africa or other applicable jurisdictions; (iv) the continuing status of ibogaine as a controlled substance in relevant jurisdictions; (v) risks relating to clinical development, regulatory review and approval; (vi) competition and market adoption risks; (vii) and the Company’s ability to maintain compliance with Nasdaq continued listing standards. Additionally, there can be no assurance that the anticipated executive order will be issued, or, if issued, that it will have any particular scope, timing or effect on the Company, its operations, product candidates or applicable regulatory pathways. The foregoing list of factors is not exhaustive. You should carefully consider the foregoing factors and the other risks and uncertainties described in the “Risk Factors” section of the Company’s final prospectus (File No. 333-298285) filed with the Securities and Exchange Commission (the “SEC”) on November 3, 2025 and other documents filed by Psyence BioMed from time to time with the SEC.