Incannex Healthcare Inc. (NASDAQ:IXHL) ("Incannex" or the "Company"), a clinical-stage biopharmaceutical company advancing innovative combination therapies and psychedelic-assisted treatments, is pleased to announce that it has received A$6,039,162.43 under the Australian Government's Research and Development Tax Incentive Program.

The Company also expects to receive an additional approximately A$5.1 million in future R&D Tax Incentive proceeds to be received in 2026. Combined, these proceeds represent more than A$11.1 million in non-dilutive capital that further strengthens the Company's balance sheet and enhances financial flexibility as Incannex advances its clinical development programs and executes on shareholder-focused capital allocation initiatives.