Potentially Valuable Novel Compositions Being Investigated

Lexaria Also Receives Additional New Granted Patent

KELOWNA, BRITISH COLUMBIA - June 23, 2026 (NEWMEDIAWIRE) - Lexaria Bioscience Corp. (Nasdaq: LEXX) (the “Company” or “Lexaria”), a global innovator in drug delivery platforms, provides the following update on Animal Study #1 (GLP-1-A26-1) that is evaluating a number of formulation enhancements using both DehydraTECH-semaglutide (“DHT-sema”) glucagon-like peptide-1 (“GLP-1”) compositions and DehydraTECH-CBD (“DHT-CBD”) compositions to explore the potential for additional improved performance as well as stake new intellectual property (“IP”) claims (the “Study”).

The Study is on schedule and dosing began on June 10, 2026, as planned. Barring any unforeseen interruptions, Study results are currently expected by early September.

One of the novel objectives of this Study is to evaluate innovative alternative formulations to SNAC (salcaprozate sodium) which is currently in use by Novo Nordisk® with their oral Rybelsus® and Wegovy® tablet products. If Lexaria is able to scientifically evidence novel new formulations with similarity or superiority to SNAC performance enhancements, we may be able to establish valuable new proprietary IP and an industry alternative to SNAC that could be of value within the keenly competitive GLP-1 sector. To this end, Lexaria is pleased to report that we have already filed 3 new patent applications that anticipate our latest technological improvements in this area.

The Study is utilizing Sprague-Dawley rats with 11 separate Study arms evaluating a number of different novel compositions. Blood samples are being taken at multiple timepoints through an 8-24 hour post-dosing period to quantify the pharmacokinetic performance of each composition. In addition, the Study will also measure drug concentrations in the brain since DehydraTECH has, in the past, evidenced apparent superior absorption of active ingredients into brain tissue, an area of intense interest due to the fact that GLP-1 drug performance is increasingly understood to include or even depend upon involvement of brain neurochemistry, thus making brain biodistribution vital.

There will be one reference arm using an existing DHT-sema composition and another reference arm using an existing DHT-CBD composition. Lexaria will leverage the wealth of study data that we have amassed from previous work by utilizing our proprietary historical data and the reference arms as baseline comparators to the current Study results as we search for areas of improvement.

The Study is fully funded from existing corporate resources.

Lexaria is also pleased to report that on June 11, 2026 we received our first Australian patent grant (#2023302884) in our Family #21 - Pharmaceutical Compositions and Methods for Treating Hypertension. This patent represents our 7th patent in this family with 3 others previously granted in the US, 1 in Europe and 2 in Japan. The term of this patent is until April 25, 2043.

About Lexaria Bioscience Corp. & DehydraTECH™

DehydraTECH™ is Lexaria’s patented drug delivery formulation and processing platform technology which improves the way a wide variety of drugs enter the bloodstream, always through oral delivery. DehydraTECHTM has repeatedly evidenced the ability to increase bio-absorption, reduce side-effects, and deliver some drugs more effectively across the blood brain barrier. Lexaria operates a licensed in-house research laboratory and holds a robust intellectual property portfolio with 66 patents granted and additional patents pending worldwide. For more information, please visit www.lexariabioscience.com.

CAUTION REGARDING FORWARD-LOOKING STATEMENTS

This press release includes forward-looking statements. Statements as such term is defined under applicable securities laws. These statements may be identified by words such as "anticipate," "if," "believe," "plan," "estimate," "expect," "intend," "may," "could," "should," "will," and other similar expressions. Such forward-looking statements in this press release include, but are not limited to, statements by the Company relating to the Company’s ability to carry out research initiatives, receive regulatory approvals or grants or experience positive effects or results from any research or study. Such forward-looking statements are estimates reflecting the Company's best judgment based upon current information and involve a number of risks and uncertainties, and there can be no assurance that the Company will actually achieve the plans, intentions, or expectations disclosed in these forward-looking statements. As such, you should not place undue reliance on these forward-looking statements. Factors which could cause actual results to differ materially from those estimated by the Company include, but are not limited to, government regulation and regulatory approvals, managing and maintaining growth, the effect of adverse publicity, litigation, competition, scientific discovery, the patent application and approval process, potential adverse effects arising from the testing or use of products utilizing the DehydraTECH technology, the Company’s ability to maintain existing collaborations and realize the benefits thereof, delays or cancellations of planned R&D that could occur related to pandemics or for other reasons, and other factors which may be identified from time to time in the Company's public announcements and periodic filings with the US Securities and Exchange Commission on EDGAR. The Company provides links to third-party websites only as a courtesy to readers and disclaims any responsibility for the thoroughness, accuracy or timeliness of information at third-party websites. There is no assurance that any of Lexaria’s postulated uses, benefits, or advantages for the patented and patent-pending technology will in fact be realized in any manner or in any part. No statement herein has been evaluated by the Food and Drug Administration (FDA). Lexaria-associated products are not intended to diagnose, treat, cure or prevent any disease. Any forward-looking statements contained in this release speak only as of the date hereof, and the Company expressly disclaims any obligation to update any forward-looking statements or links to third-party websites contained herein, whether as a result of any new information, future events, changed circumstances or otherwise, except as otherwise required by law.

INVESTOR CONTACT:
George Jurcic - Head of Investor Relations
ir@lexariabioscience.com
Phone: 250-765-6424, ext 202

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