The Board of Field Trip Health Ltd. (TSX:FTRP) announced the split-off of Field Trip Health & Wellness Ltd. on April 28, 2022. On closing of the Transaction, it is expected that each share of Field Trip Health Ltd. will be exchanged for approximately 0.86 common shares of Field Trip H&W. The record date is May 20, 2022. Field Trip Health will be renamed Field Trip Health and Wellness Ltd. As of July 21, 2022, Field Trip Health Ltd. will be renamed as Reunion Neuroscience Inc. after the completion and remain listed on the NASDAQ Stock Market and Toronto Stock Exchange. Reunion common shares will be consolidated on a 5:1 basis as part of the closing of the spin out transaction. Ronan Levy will lead Field Trip H&W as Chief Executive Officer and Mujeeb Jafferi will serve as President. Levy currently serves as Executive Chairman, and Jafferi serves as Chief Operating Officer, of Field Trip Health Ltd., respectively. The transaction has been unanimously approved by the board of Field Trip Health Ltd. Field Trip H&W, subject to exchange approval, will list on the TSX Venture Exchange. The Transaction will be effected by way of a court approved plan of arrangement under the Canada Business Corporations Act. The Transaction will require the approval of: (i) 66 2/3% of the votes cast by the holders of Field Trip Health's common shares; and (ii) a simple majority of the votes cast by holders of the Company's common shares after excluding votes from certain shareholders as required under MI 61-101, at a special meeting of Field Trip Health's shareholders to be held to consider the Transaction. In addition to shareholder approval, the Transaction is also subject to the receipt of court approval and other customary closing conditions for transactions of this nature. As of June 27, 2022, shareholders of Field Trip Health Ltd. approved the spin-off. Closing of arrangement remains subject to a number of conditions, including final court approval scheduled on June 29, 2022, and other regulatory approvals. On June 29, 2022, Field Trip Health Ltd. has received final court approval for the transaction. On August 4, 2022, TSX Venture Exchange has issued its conditional listing approval for the transaction. Closing of the arrangement is expected to occur on August 11, 2021, which would also constitute the distribution date of the common shares of Field Trip H&W to the Field Trip shareholders under the arrangement. The company expects the FTHW Shares to begin trading on or about August 17, 2022, under the symbol "FTHW". Listing of the FTHW Shares on the TSXV is subject to a number of customary conditions which are expected to be fulfilled by the Effective Date or shortly thereafter. On the closing of the arrangement, Field Trip will be renamed "Reunion Neurosciences Inc." and remain listed on the NASDAQ Stock Market and Toronto Stock Exchange under the ticker symbol "REUN". Field Trip H&W will be operated as a separate company with separate management teams and Boards of Directors. transaction expect to complete on August 11, 2022


Bloom Burton Securities Inc. acted as financial advisor and fairness provider, Cantor Fitzgerald Canada Corporation acted as fairness provider, Bennett Jones LLP, Paul, Weiss, Rifkind, Wharton & Garrison LLP, Torys LLP and Cohen & Buckmann, PC acted as legal advisors to Field Trip Health. Computershare Investor Services Inc. acted as registrar for Field Trip.

Field Trip Health Ltd. (TSX:FTRP) completed the split-off of Field Trip Health & Wellness Ltd. on August 11, 2022.