Shortwave Life Scncs - Director Appointment and SPA Update

SHORTWAVE LIFE SCIENCES PLC

("Shortwave" or "the Company")

Shortwave Life Science Announces Strategic Board Addition and Milestone Share Allocation

            Shortwave Life Science Accelerates Growth Strategy with Leadership Update and Key Milestones

Appointment of Ron Lipsky as Non-Executive Director

London, 27 November 2024 - Shortwave Life Sciences (AQSE: PSY), a pioneer in mental health innovation is pleased to announce the appointment of Ron Lipsky as a Non-Executive Director with immediate effect.

Ron Chai Lipsky, aged 49, is a seasoned executive in life sciences and public markets, with an extensive track record in capital raising, market entry, and value creation. He brings expertise in overseeing complex regulatory compliance, fostering investor relations, and delivering strategic growth for global biotech and pharmaceutical companies. Ron is recognised for his role in guiding organisations through public listings, navigating multi-market compliance (ASX, LSE), and leveraging public market acumen to drive expansion and investor confidence. He is committed to supporting board-level strategic direction, performance monitoring, and risk management.

"We are thrilled to welcome Ron Lipsky to the board as a Non-Executive Director," said Rivki Stern, Chief Executive Officer of the Company. "Ron brings a wealth of experience in public markets and a deep understanding of the life sciences sector, which aligns perfectly with our strategic vision. His expertise in navigating regulatory landscapes and engaging investors will be invaluable as we continue to drive growth and broaden our impact. We look forward to Ron's contribution as we advance our mission and deliver value to our stakeholders."

Mr. Lipsky does not currently hold any ordinary shares in the Company. The below details all directorships held by the director in any other company at any time in the previous five years:

Except as set out above, there is no further information regarding Ron Lipsky, that is required to be disclosed pursuant to Rule 4.9 of the Aquis Growth Market Access Rulebook.

Allocation of Deferred Guarantee Shares

Pursuant to the Share Purchase Agreement ("SPA") signed between the Company and Shortwave Pharma Inc. ("SWP") for the acquisition of 100% of SWP's shares, 7,499,998 Deferred Guarantee Shares were withheld at the time of acquisition. These shares were held to address any potential warranty claims arising within 12 months of the transaction's completion. Further information is found in the announcement of 19 June 2023.

As at November 7, 2024, the first anniversary of the completion date, no warranty-related claims had been made by the Company, and no issues requiring utilisation of the Deferred Guarantee Shares had arisen. Consequently, these shares will be allocated to the Warrantors as stipulated in the SPA.

The allocation of the Deferred Guarantee Shares will proceed with the issue and allotment of ordinary shares in the Company as follows:

Following the issue of the Deferred Guarantee Shares, Rivki Stern, CEO will own 13,662,697 ordinary shares in the Company, representing 3.61% of the enlarged issued share capital.

About Shortwave Life Sciences:

Shortwave Life Sciences is a developer of breakthrough therapies addressing unmet medical needs in mental health. The Company is committed to the advancement of innovative solutions through drug development, with a mission to pioneer breakthrough therapies that transform the landscape of mental health care. With a team of dedicated experts and a commitment to innovation, Shortwave Life Sciences is uniquely positioned to introduce and develop solutions for the complex challenges of mental health disorders worldwide.

The Directors of the Company accept responsibility for the contents of this announcement.

For media inquiries, please contact:

Enquiries:

Company:

Rivki Stern:  +972 547621621

Peterhouse Capital Limited:

Corporate Adviser:

+ 44 (0) 20 7469 0930

Corporate Broker:

+44 (0) 20 7220 9797