FSD Pharma announces share consolidation and name change Page 1

Toronto, Ontario–(Newsfile Corp. – August 9, 2024) – FSD Pharma Inc. (NASDAQ: HUGE) (CSE: HUGE) (FSE: 0K9) (“FSD Pharmaceutical” or the “Company“), a biopharmaceutical company focused on building a portfolio of innovative assets and biotechnology solutions, is pleased to announce the proposed consolidation of its issued and outstanding Class A multiple voting shares (“Class A multiple voting shares“) and subordinate voting shares of class B (“Class B subordinate voting shares“) of the Company on the basis of one (1) post-consolidation Class A Multiple Voting Share and Class B Subordinate Voting Share for every sixty-five (65) Class A Multiple Voting Shares and Class B Subordinate Voting Shares prior to consolidation (the “Consolidation“). This ratio falls within the ratio range approved by the Company’s shareholders at the Annual General and Special Meeting held on July 22, 2024.

The Company will also change its name to “Quantum BioPharma Ltd.” (the ““Name change”), and, subject to approval by The Nasdaq Capital Market (“Nasdaq“), the Class B Subordinate Voting Shares on the Canadian Securities Exchange (the “CSE“) and Nasdaq under the new trading symbol “QNTM” on both the CSE and Nasdaq at market open on August 15, 2024.

The consolidation is expected to become effective at 12:01 a.m. Eastern Time on August 15, 2024, and the Company’s Class B Subordinate Voting Shares will begin trading on a post-consolidation basis at market open on Nasdaq and the CSE on August 15, 2024 under the trading symbol “QNTM.” The consolidation is part of the Company’s plan to regain compliance with the minimum bid price requirement for continued listing on Nasdaq.

As a result of the Consolidation, the 72 Class A Multiple Voting Shares currently issued and outstanding will be reduced to 2 Class A Multiple Voting Shares. As a result of the Consolidation, the 77,649,332 Class B Subordinate Voting Shares currently issued and outstanding will be reduced to approximately 1,194,852 Class B Subordinate Voting Shares. No fractional Class A Multiple Voting Shares and Class B Subordinate Voting Shares will be issued as a result of the Consolidation. If the Consolidation would otherwise result in the issuance of fractional Class A Multiple Voting Shares or Class B Subordinate Voting Shares, no fractional Class A Multiple Voting Shares or Class B Subordinate Voting Shares will be issued and any such fraction will be rounded to the nearest whole number.

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