Press Release

30 May 2023

Clarify Pharma PLC

("Clarify Pharma" or "The Company")

Full Year Results

Clarify Pharma (AQSE: PSYC), an investment vehicle specialising in biotech and life sciences companies seeking to prove the safety and efficacy of psychedelic-based substances, announces its audited financial results for the twelve months ended 30 November 2022.

The Company is an Investment Company and has not divested any of its investments since IPO and continues to hold its one private investment: Beckley Psytech Ltd.

During the year the Company invested further into the sector by taking equity positions in two NASDAQ-listed companies; Atai Life Sciences (ATAI) and Compass Pathways (CMPS) which the Directors feel represent opportunities to increase the Company's exposure to the sector.

Outlook:

Whilst the psychedelic-focused biotech and life sciences sector has not generated attractive returns in the period, the Directors believe that the market fundamentals suggest the sector will develop significantly along with the regulatory environment.

Commenting on the results, Jonathan Bixby, Executive Director of Clarify Pharma, said: "Within the twelve months prior to 30 November 2022, Clarify Pharma increased exposure to the sector by investing in listed companies. We remain confident that our early-stage investment in Beckley Psytech Ltd will generate attractive returns. We look forward to the continued growth of confidence among investors in this nascent sector."

The directors of Clarify Pharma plc accept responsibility for this announcement.

The Company's audited financial results for the 12-month period to 30 November 2022 can be found at https://www.clarifypharma.com/investors

This announcement may contain "forward-looking" statements and information relating to the Company. These statements are based on the beliefs of Company management, as well as assumptions made by and information currently available to Company management. The Company does not undertake to update forward‐looking statements or forward‐looking information, except as required by law.

This announcement contains information which, prior to its disclosure, was inside information as stipulated under Regulation 11 of the Market Abuse (Amendment) (EU Exit) Regulations 2019/310 (as amended). Upon the publication of this announcement via a Regulatory Information Service, this inside information is now considered to be in the public domain.

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About Clarify Pharma PLC:

Listed on the Aquis Stock Exchange in London, Clarify Pharma is an investment vehicle focusing on investing in biotech and life sciences companies seeking to prove the safety and efficacy of psychedelic based substances. The Company looks to identify investment opportunities in the life sciences sector within the UK, Canada and other growing markets, with the objective of generating long-term capital growth and building investments in an R&D pipeline of companies which are discovering, developing, or deploying safe and evidence-based psychedelic inspired medicines and experiential therapies that alleviate mental health problems and enhance wellbeing. The Company's Directors have an established track record, experience and networks in the psychedelic, cannabinoid and media industries, to drive value creation. www.clarifypharma.com

STATEMENT OF COMPREHENSIVE INCOME

FINANCIAL STATEMENTS