Theralase Technologies Inc. — Board/Management Information 2021

Nov 30, 2021

1102FORM 51-102F3 MATERIAL CHANGE REPORT

• Item 1

Name and Address of Company

Theralase Technologies Inc. (“ Theralase ” or the “ Corporation ”)

41 Hollinger Road Toronto, Ontario M4B 3G4

• Item 2 Date of Material Change

November 15, 2021

• Item 3 News Release

A news release (the “ News Release ”) disclosing the material change was issued on November 15, 2021 through the facilities of GlobeNewswire and filed on the System for Electronic Document Analysis and Retrieval (“ SEDAR ”). A copy of the News Release is attached as Schedule “A”.

• Item 4

Summary of Material Change

On November 15, 2021, Dr. Arkady Mandel, M.D., Ph.D., D.Sc., Chief Scientific Officer (“CSO”) of the Corporation assumed the role of Interim Chief Executive Officer (“CEO”), replacing Mr. John Trikola in the role of Interim CEO of the Company.

• Item 5

Full Description of Material Change

On November 15, 2021, Dr. Arkady Mandel, M.D., Ph.D., D.Sc., Chief Scientific Officer (“CSO”) of the Company, assumed the role of Interim Chief Executive Officer (“CEO”), replacing Mr. John Trikola in the role of Interim CEO of the Company.

Mr. Trikola agreed to resign from his positions as the Chief Operating Officer and Interim CEO of the Corporation, as a result of certain facts that came to the Corporation’s attention concerning Mr. Trikola’s background that the Corporation’s vetting process failed to detect. Theralase is currently taking steps to improve its vetting process for incoming officers and directors.

Item 6 Reliance on subsection 7.1(2) of National Instrument 51-102

Not applicable.

Item 7 Omitted Information

Not applicable.

• Item 8 Executive Officer

For additional information with respect to the material change referred to herein, the following person may be contacted:

Kristina Hachey, Chief Financial Officer Telephone number: (416) 699-5273

This material change report is dated November 30, 2021

Item 9 Date of Report

Schedule “A”

News Release

[ see

attached ]

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