Vancouver, British Columbia--(Newsfile Corp. - May 13, 2026) - BetterLife Pharma Inc. (CSE: BETR) (OTCQB: BETRF) (FSE: NPAU) ("BetterLife" or the "Company"), an emerging biotech company, is pleased to announce it has appointed Doug Drysdale, currently BetterLife's corporate advisor and formerly CEO of Cybin Inc. ("Cybin") (NYSE: CYBN), as Executive Chairman and Director.

At Cybin, Mr. Drysdale led the company's strategy and team build-out, taking it from molecule inception to Phase 3 trials in just three years. Mr. Drysdale is known as a vocal advocate for revolutionizing mental healthcare through numerous speaking engagements, panel participations, and media interviews.

"We are delighted to welcome Doug to our Board of Directors. His proven global leadership, underscored by a track record of executing multiple successful transactions across diverse markets and therapeutic indications, brings a depth of strategic insight and operational expertise that will meaningfully strengthen BetterLife", said Ahmad Doroudian, CEO of BetterLife. "Doug's experience navigating complex deal environments and scaling opportunities across jurisdictions will be invaluable as we continue to advance our growth strategy and create long-term shareholder value."

Mr. Drysdale commented, "I am thrilled to join BetterLife as Executive Chairman and Director. Having led Cybin from molecule inception to Phase 3 trials in just three years, I look forward to bringing that same execution focus and global transaction expertise to accelerate BetterLife's growth strategy. Together with the team, we will continue to advance innovative therapies that target neurological disorders and deliver long-term value for patients and shareholders alike."

Pursuant to the appointment of Mr. Drysdale as Executive Chairman, the Company has agreed to grant Mr. Drysdale stock options to purchase 3,500,000 common shares of BetterLife, with an exercise price of $0.065, monthly vesting over 24 months and a ten (10) year term.

About BetterLife Pharma

BetterLife Pharma Inc. is an emerging biotechnology company primarily focused on developing and commercializing BETR-001 to treat various neurological disorders. BETR-001, which is in preclinical and IND-enabling studies, is a non-hallucinogenic and non-controlled LSD derivative in development and it is unique in that it is unregulated and therefore can be self-administered. BetterLife's synthesis patent for BETR-001 eliminates regulatory hurdles and its pending patent, for composition and method of use, covers treatment of various neurological disorders, until around 2042.

BetterLife also owns a drug candidate for the treatment of viral infections and is in the process of seeking strategic alternatives for further development.

For further information, please visit BetterLife Pharma.

Cautionary Note Regarding Forward-Looking Statements

No securities exchange has reviewed nor accepts responsibility for the adequacy or accuracy of the content of this news release. This news release may contain forward-looking statements that are not historical facts. Forward-looking statements are often identified by terms such as "will", "may", "should", "anticipate", "expects" and similar expressions. All statements other than statements of historical fact, included in this release are forward-looking statements that involve risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company's expectations include the failure to satisfy the conditions of the relevant securities exchange(s) and other risks detailed from time to time in the filings made by the Company with securities regulations. The reader is cautioned that assumptions used in the preparation of any forward-looking information may prove to be incorrect. Events or circumstances may cause actual results to differ materially from those predicted, as a result of numerous known and unknown risks, uncertainties, and other factors, many of which are beyond the control of the Company. The reader is cautioned not to place undue reliance on any forward-looking information. Such information, although considered reasonable by management at the time of preparation, may prove to be incorrect and actual results may differ materially from those anticipated. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement. The forward-looking statements contained in this news release are made as of the date of this news release and the Company will update or revise publicly any of the included forward-looking statements as expressly required by applicable law.

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Source: BetterLife Pharma Inc.