BRIGHT MINDS BIOSCIENCES INC.

Notes:

(1) Information has been furnished by the respective nominees individually.

(2) Member of the Audit Committee.

(3) Member of the Nominating and Corporate Governance Committee.

(4) Member of the Compensation Committee.

(5) Member of the Corporate Disclosure Committee.

(6) Mr. McDonald also owns (i) 30,000 RSUs to acquire 30,000 Common Shares expiring on December 1, 2027 (30,000 vested on December 1, 2025); and (ii) 361,765 warrants to purchase 361,765 Common Shares at a price of $1.70 expiring on December 22, 2028.

(7) Mr. Bottler also holds (i) 10,000 Options to purchase 10,000 Common Shares at a price of $1.84 expiring on March 22, 2029 (25% of which vested on March 22, 2024; 25% of which vested on March 22, 2025; 25% of which will vest on March 22, 2026 and 25% of which will vest on March 22, 2027); (ii) 5,000 Options to purchase 5,000 Common shares at a price of $1.65 expiring October 3, 2029 (2,500 of which vested on October 3, 2025 and the remaining 2,500 will vest on October 3, 2026); (iii) 5,000 Options to purchase 5,000 Common Shares at a price of US$35 expiring on February 26, 2030 (25% of which will vest on February 26, 2026; 25% of which will vest on February 26, 2027; 25% of which will vest on February 26, 2028; and 25% of which will vest on February 26, 2029); and (iv) 5,000 Options to purchase 5,000 Common Shares at US$54.47 expiring on October 30, 2030 (25% of which will best on October 30, 2026; 25% of which will vest on October 30, 2027; 25% of which will vest on October 30, 2028 and 25% of which will vest on October 30, 2029).

(8) Mr. Fryzuk also holds (i) 20,000 Options to purchase 20,000 Common Shares at a price of $1.84 expiring March 22, 2029 (25% of which vested on March 22, 2024; 25% of which vested on March 22, 2025; 25% of which will vest on March 22, 2026 and 25% of which will vest on March 22, 2027); (ii) 10,000 Options to purchase 10,000 Common Shares at a price of $1.65 expiring October 3, 2029 (50% of which vested on October 3, 2024; 25% of which vested on October 3, 2025; and 25% of which will vest on October 3, 2026); (iii) 5,000 Options to purchase 5,000 Common Shares at a price of US$35 expiring on February 26, 2030 (25% of which will vest on February 26, 2026; 25% of which will vest on February 26, 2027; 25% of which will vest on February 26, 2028; and 25% of which will vest on February 26, 2029); and (iv) 5,000 Options to purchase 5,000 Common Shares at US$54.47 expiring on October 30, 2030 (25% of which will best on October 30, 2026; 25% of which will vest on October 30, 2027; 25% of which will vest on October 30, 2028 and 25% of which will vest on October 30, 2029).

(9) Dr. Pedersen owns (i) 10,000 RSUs to acquire 10,000 Common Shares expiring on April 27, 2027 (5,000 vested on April 27, 2025; and 5,000 will vest on April 27, 2026); (ii) 25,000 RSUs to acquire 25,000 Common Shares expiring on December 1, 2027 (25,000 vested on December 1, 2025); (iii) 20,000 Options to purchase 20,000 Common Shares at a price of $1.65 expiring October 3, 2029 (50% of which vested on October 3, 2024; 25% of which vested on October 3, 2025; and 25% of which will vest on October 3, 2026); and (iv) 3,500 Options to purchase 3,500 Common Shares at US$54.47 expiring on October 30, 2030 (25% of which will best on October 30, 2026; 25% of which will vest on October 30, 2027; 25% of which will vest on October 30, 2028 and 25% of which will vest on October 30, 2029).

(10) Dr. Weiner holds (i) 16,000 Options to purchase 16,000 Common Shares at a price of $5.25 expiring on February 16, 2028 (25% of which vested on February 16, 2024; 25% of which vested on February 16, 2025; 25% of which will vest on February 16, 2026; and 25% of which will vest on February 16, 2027); (ii) 20,000 Options to purchase 20,000 Common Shares at a price of $1.84 expiring March 22, 2029 (25% of which vested on March 22, 2024; 25% of which vested on March 22, 2025; 25% of which will vest on March 22, 2026 and 25% of which will vest on March 22, 2027); (iii) 10,000 Options to purchase 10,000 Common Shares at a price of $1.65 expiring on October 3, 2029 (50% of which vested on October 3, 2024; 25% of which vested on October 3, 2025; and 25% of which will vest on October 3, 2026); (iv) 10,000 Options to purchase 10,000 Common Shares at $1.65 expiring on October 3, 2029 (50% of which vested on October 3, 2024; 25% of which vested on October 3, 2025; and 25% of which will vest on October 3, 2026); (v) 5,000 Options to purchase 5,000 Common Shares at a price of US$35 expiring on February 26, 2030 (25% of which will vest on February 26, 2026; 25% of which will vest on February 26, 2027; 25% of which will vest on February 26, 2028; and 25% of which will vest on February 26, 2029); and (vi) 5,000 Options to purchase 5,000 Common Shares at US$54.47 expiring on October 30, 2030 (25% of which will best on October 30, 2026; 25% of which will vest on October 30, 2027; 25% of which will vest on October 30, 2028 and 25% of which will vest on October 30, 2029).

(11) Dr. Farr holds 35,000 Options to purchase 35,000 Common Shares at a price of $35, expiring on February 26, 2030 (vesting in equal installments over a period of 24 months beginning on February 26, 2025).

(12) As of the date of this Circular, Dr. Farr is not a member the Board.

None of the proposed nominees for election as a director of the Company are proposed for election pursuant to any arrangement or understanding between the nominee and any other person, except the directors and senior officers of the Company acting solely in such capacity.

Management does not contemplate that any of its nominees will be unable to serve as directors. If any vacancies occur in the slate of nominees listed above before the Meeting, then the designated persons intend to exercise discretionary authority to vote the Common Shares represented by proxies for the election of any other persons as directors.