Ann: Sep20 Quarterly Activities update and Appendix 4C, page-2

Fantastic quarter on all fronts! Record oil sales, great progress with the two major CBD projects and stepping into ASX and potential global leadership in psychedelic based mental health...... and plenty of cash. IHL does more in a quarter than many in a year. Credit to top shelf management for strategic and fiscal prowess. Just the beginning.

Highlights:
• Ethics approval received for phase 2b clinical trial to investigate IHL-42X oral pharmaceutical in
subjects with Obstructive Sleep Apnoea
• Achieves positive results from its in vivo and in vitro studies for the assessment of the key
constituents of IHL-675A against sepsis associated acute respiratory distress syndrome
• Commences in vivo study to assess the neuroprotective capability of IHL-216A in preparation for an
upcoming in-human clinical trial
• Appointment of Dr Paul Liknaitzky to the Incannex scientific advisory board to advise on the
research of novel psychiatric agents and associated therapies
• Achieves second consecutive quarter of record sales receipts of $695K
• Completion of the IHLOB option exercise program to raise in excess of $10M, with closing cash
balance of $12.1M as at September 30, 2020.