NervGen Pharma

Stock options, retention securities and warrants cont’d The fair value of options granted is calculated on the grant date using the Black-Scholes option pricing model using the following assumptions: June 30, 2026 June 30, 2025 Risk-free interest rate 2.90% - 3.58% 2.72% - 3.19% Expected term in years 5.0 – 9.0 years 4.1 – 9.2 years Expected stock price volatility 161.66% - 198.04% 146.48% - 170.89% Dividend yield - - Retention Securities: The Company has granted 590,000 retention securities to its former President and Chief Executive Officer in connection with his appointment on April 10, 2023.

SEC original ↗NervGen Pharma — Earnings release (6-K exhibit)EX-99Aug 13, 2026

In order to maintain or adjust its capital structure, the Company may issue shares or issue debt (secured, unsecured, convertible and/or other types of available debt instruments).

SEC original ↗NervGen Pharma — Earnings release (6-K exhibit)EX-99Aug 13, 2026

On November 25, 2024 the Company filed a short form base shelf prospectus, which was subsequently restated on December 15, 2025 and amended on May 22, 2026 (the "Base Shelf") that qualifies for distribution of up to US$250,000,000 of Common Shares, debt securities, subscription receipts, warrants and units comprised of one or more of the other securities described.

SEC original ↗NervGen Pharma — Earnings release (6-K exhibit)EX-99Aug 13, 2026

Forward-looking statements include statements that may relate to our plans, objectives, goals, strategies, future events, future revenue or performance, capital expenditures, financing and other information that is not historical information.

SEC original ↗NervGen Pharma — Earnings release (6-K exhibit)EX-99Aug 13, 2026

The Company’s financial strategy is designed to maintain a flexible capital structure consistent with the objectives stated above and to respond to business growth opportunities and changes in economic conditions.

SEC original ↗NervGen Pharma — Earnings release (6-K exhibit)EX-99Aug 13, 2026

Forward-looking statements include statements that may relate to our plans, objectives, goals, strategies, future events, future revenue or performance, capital expenditures, financing and other information that is not historical information.

SEC original ↗NervGen Pharma — Earnings release (6-K exhibit)EX-99Aug 13, 2026

Our principal business activity is the discovery, development and commercialization of pharmaceutical products that may enable the nervous system to repair itself, with our initial focus on SCI.

SEC original ↗NervGen Pharma — Earnings release (6-K exhibit)EX-99Aug 13, 2026

The continuation of our research and development activities and the commercialization of our product candidates depends on our ability to successfully finance through equity financing, grant and other non-dilutive sources, and possibly revenues from strategic partners.

SEC original ↗NervGen Pharma — Earnings release (6-K exhibit)EX-99Aug 13, 2026

We have no current sources of revenues from strategic partners.

SEC original ↗NervGen Pharma — Earnings release (6-K exhibit)EX-99Aug 13, 2026

The key judgments and assumptions concerning the future, and other key sources of estimation uncertainty, as of the date of the condensed consolidated interim statement of financial position, that have a significant risk of causing material adjustment to the carrying amounts of assets and liabilities within the next fiscal year arise in connection with the going concern assessment, valuation of intangible assets, recognition of government assistance, valuation of warrant derivative, stock-based compensation, contingent repayment of grant funding and the determination of the functional currency of the Company.

SEC original ↗NervGen Pharma — Earnings release (6-K exhibit)EX-99Aug 13, 2026

Such forward-looking statements are necessarily based on estimates and involve known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to be materially different from any future results, performance or achievements that may be expressed or implied by such forward-looking statements.

SEC original ↗NervGen Pharma — Earnings release (6-K exhibit)EX-99Aug 13, 2026

anti-corruption, anti-money laundering, export control, sanctions, and other trade laws and regulations.

SEC original ↗NervGen Pharma — Earnings release (6-K exhibit)EX-99Aug 13, 2026

Further, our issued patents or our future licensors’ patents could be found invalid or unenforceable if challenged in court or before administrative bodies in the United States or abroad; · we may not identify relevant third-party patents or may incorrectly interpret the relevance, scope or expiration of a third-party patent, which might adversely affect our ability to develop and market our products and product candidates; NERVGEN PHARMA CORP.

SEC original ↗NervGen Pharma — Earnings release (6-K exhibit)EX-99Aug 13, 2026

2026 Q2 MD&A 5 If one or more of these risks or uncertainties or a risk that is not currently known to us materialize, or if our underlying assumptions prove to be incorrect, actual results may vary significantly from those expressed or implied by forward-looking statements.

SEC original ↗NervGen Pharma — Earnings release (6-K exhibit)EX-99Aug 13, 2026