Regulation FD Presentation (Form 8-K)

Incannex Announces Initiation of Research Coverage by Alliance Global Partners

MELBOURNE, Australia and NEW YORK, June 9, 2026 - Incannex Healthcare Inc. (Nasdaq: IXHL) ("Incannex" or the "Company"), a clinical-stage biopharmaceutical company advancing innovative combination therapies and next-generation medicines for high-impact indications, is pleased to announce that Alliance Global Partners ("AGP") has initiated equity research coverage of the Company.

The research report, authored by AGP Managing Director and Senior Biotechnology Analyst James Molloy, provides an independent assessment of Incannex's clinical pipeline, development strategy, market opportunities and future growth prospects.

Research Coverage Highlights

Incannex believes the initiation of coverage by AGP represents an important milestone in expanding awareness of the Company's clinical programs and investment proposition among institutional and retail investors.

The report includes discussion of the Company's lead obstructive sleep apnoea program, IHL-42X, currently being advanced through the DReAMzz dose optimisation study, as well as PSX-001, the Company's synthetic psilocybin program for generalized anxiety disorder.

Joel Latham, President and Chief Executive Officer of Incannex, commented:

"We are pleased AGP has elected to initiate research coverage and appreciate the time and diligence their team has dedicated to understanding our business, clinical programs and long-term strategy."

"As we continue advancing IHL-42X and PSX-001 through development, we believe increased research coverage can help broaden investor awareness of the significant unmet needs we are seeking to address and the substantial commercial opportunities represented by our pipeline."

Investors may contact Alliance Global Partners (www.allianceg.com) directly to obtain a copy of the report.

Analyst Disclaimer

The information above regarding analyst coverage is solely for informational purposes and is not intended as a solicitation to make investments. Any opinions, estimates or forecasts regarding Incannex's performance made by analysts are theirs alone and do not represent opinions, forecasts or predictions of Incannex or its management. Incannex does not by its reference above, or by distribution, imply its endorsement of or concurrence with such information, conclusions or recommendations. Alliance Global Partners has received compensation from Incannex for providing investment banking services. Incannex undertakes no obligation to

About Incannex Healthcare Inc.

Incannex Healthcare Inc. is a clinical-stage biopharmaceutical company developing innovative combination therapies and next-generation medicines for conditions with significant unmet medical need. The Company's lead programs include IHL-42X for obstructive sleep apnoea and PSX-001 for generalized anxiety disorder. Incannex is committed to advancing therapies that address multiple biological pathways with the goal of improving patient outcomes and creating long-term shareholder value. For more information, please visit www.incannex.com.