Aequus Pharmaceuticals Inc. — AGM Information 2021

Jun 18, 2021

AEQUUS PHARMACEUTICALS INC. 2820 – 200 Granville Street Vancouver, British Columbia V6C 1S4 Telephone No.: (604) 336-7906 Fax No.: (604) 563-5033

NOTICE OF ANNUAL GENERAL MEETING OF SHAREHOLDERS

NOTICE IS HEREBY GIVEN that the annual general meeting (the “ Meeting ”) of shareholders of Aequus Pharmaceuticals Inc. (the “ Company ”) will be held virtually due to the current health pandemic via Zoom on July 15, 2021 at 10:00 a.m. (Vancouver time) for the following purposes:

1. to receive the audited consolidated financial statements of the Company for its fiscal year ended December 31, 2020, and the report of the auditor and the related management discussion and analysis;

2. to set the number of directors for the ensuring year at six;

3. to elect directors of the Company for the ensuing year who will serve until the next annual general meeting, until a successor is appointed, their office vacated or until they are otherwise disqualified to serve as directors;

4. to appoint Dale Matheson Carr-Hilton LaBonte LLP, Chartered Professional Accountants, as auditor of the Company for the ensuing year and to authorize the directors to fix their remuneration; and

5. to transact such other business as may properly come before the Meeting or any adjournment thereof.

In order to access the Meeting through Zoom, shareholders will need to download the application onto their computer or smartphone and then once the application is loaded, enter the Meeting ID and Password below or open the following link https://zoom.us/j/97766955053?pwd=eWRmb2hYQm5CUm9nRlkwZCtpMXJuZz09 Shareholders will have the option through the application to join the video and audio or simply view and listen. Meeting ID: 977 6695 5053, Password 832173.

The board of directors has fixed June 7, 2021 as the record date for determining the shareholders entitled to receive notice of and vote at the Meeting. Shareholders unable to attend the meeting in person are requested to read the enclosed management information circular and proxy (or Voting Instruction Form, a “ VIF ”) and complete and deposit the proxy or VIF in accordance with its instructions. Unregistered shareholders that receive this notice of Meeting and accompanying materials through a financial institution or other intermediary must deliver their completed proxy or VIF in accordance with the instructions given by their financial institution or other intermediary.

DATED at Vancouver, British Columbia, this 8th day of June, 2021.

BY ORDER OF THE BOARD

“ Doug Janzen ”

Doug Janzen Chief Executive Officer