Press Release

Filament Health Announces Second Psilocybin Supply Agreement With The Centre For Addiction And Mental Health

February 14, 2023

CAMH will study PEX010, Filament’s botanical psilocybin drug candidate, in a HealthCanada-approved clinical trial for mild cognitive impairment

Vancouver, British Columbia, February 14, 2023 – Filament Health Corp. (OTCQB:FLHLF) (NEO:FH) (FSE:7QS) (“Filament”or the “Company”), a clinical‐stage natural psychedelic drug development company, today announced a second agreement to supply the Centre for Addiction and Mental Health (CAMH), Canada's largest mental health teaching hospital and one of the world's leading research centres, with the Company’s botanical psilocybin drug candidate, PEX010. CAMH will study the effects of psilocybin for the treatment of amnestic mild cognitive impairment (aMCI) in a HealthCanada-approved clinical trial.

“Current treatments for aMCI are ineffective, and the examination of novel interventions is required to help prevent progression to Alzheimer’s Dementia (AD),”  said Dr. Philip Gerretsen, co-lead investigator for the CAMH trial. “This trial will examine if psilocybin can increase participants’ synaptic density, which has previously been shown to occur in animal studies. We are very grateful to Filament Health for their donation of safe, high quality psilocybin which is crucial to the trial design.”

Patients with aMCI are at higher risk of having Alzheimer’s Disease and developing dementia. No effective treatment currently exists to prevent progression from aMCI to AD, and psilocybin represents a novel approach to promote synaptogenesis in the early stages which may counter neurodegeneration.

“We’re proud to continue building our relationship with CAMH, one of the world’s most well-regarded mental health research institutions,” said Benjamin Lightburn, Chief Executive Officer andCo-Founder of Filament Health. “Supporting Dr. Gerretsen and Dr. Graff’s research by donating PEX010 advances Filament’s mission to see safe, natural psychedelics into the hands of everyone who needs them, as soon as possible.”

ABOUT FILAMENT HEALTH (OTCQB:FLHLF)(NEO:FH) (FSE:7QS)

Filament Health is a clinical-stage natural psychedelic drug development company. We believe that safe, standardized, naturally-derived psychedelic medicines can improve the lives of many, and our mission is to see them in the hands of everyone who needs them as soon as possible. Filament’s platform of proprietary intellectual property enables the discovery, development, and delivery of natural psychedelic medicines for clinical development. We are paving the way with the first-ever natural psychedelic drug candidates.

Learn more at www.filament.health and on Twitter, Instagram, and LinkedIn.

MEDIA RELATIONS

Anna Cordon, Director of Communications

778.245.9067

anna@filament.health

INVESTOR RELATIONS

ir@filament.health

FORWARD LOOKING INFORMATION

Certain statements and information contained herein may constitute “forward‐looking statements” and “forward‐looking information,” respectively, under Canadian securities legislation. Generally, forward‐looking information can be identified by the use of forward‐looking terminology such as, “expect”,“anticipate”, “continue”, “estimate”, “may”, “will”, “should”, “believe”,“intends”, “forecast”, “plans”, “guidance” and similar expressions are intended to identify forward‐looking statements or information. The forward‐looking statements are not historical facts, but reflect the current expectations of management of Filament regarding future results or events and are based on information currently available to them. Certain material factors and assumptions were applied in providing these forward‐looking statements.Forward‐looking statements regarding the Company are based on the Company’s estimates and are subject to known and unknown risks, uncertainties and other factors that may cause the actual results, levels of activity, performance or achievements of Filament to be materially different from those expressed or implied by such forward‐looking statements or forward‐looking information, including status of patent applications and the ability to secure patents.There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward‐ looking statements and forward‐looking information. Filament will not update any forward‐ looking statements or forward‐looking information that are incorporated by reference herein, except as required by applicable securities laws.