IXHL · Incannex Healthcare Inc. · Financials

The undersigned hereby elects to convert principal under the 10% Original Issue Discount Secured Convertible Debenture issued on October 14, 2024 and due April 14, 2026 of Incannex Healthcare Inc., a Delaware corporation (together with its successors and assigns, the “Company”), into common stock, par value $0.0001 per share (the “Common Stock”), of the Company according to the conditions hereof, as of the date written below. If the Common Stock is to be issued in the name of a person other than the undersigned, the undersigned will pay all transfer taxes payable with respect thereto and is delivering herewith such certificates and opinions as reasonably requested by the Company in accordance therewith. No fee will be charged to the holder for any conversion, except for such transfer taxes, if any.

Issuer evidence: THIS 10% ORIGINAL ISSUE DISCOUNT SECURED CONVERTIBLE DEBENTURE is one of a series of duly authorized and validly issued 10% Original Issue Discount Secured Convertible Debentures of INCANNEX HEALTHCARE INC., a Delaware corporation (together with its successors and assigns, the “Company”), whose registered office is at Suite 105, 8 Century Circuit, Norwest, NSW 2153, Australia, designated as its 10% Original Issue Discount Secured Convertible Debenture due April 14, 2026 (this debenture, the “Debenture” and, collectively with the other debentures of such series, the “Debentures”).

Supporting evidence: The undersigned hereby elects to convert principal under the 10% Original Issue Discount Secured Convertible Debenture issued on October 14, 2024 and due April 14, 2026 of Incannex Healthcare Inc., a Delaware corporation (together with its successors and assigns, the “Company”), into common stock, par value $0.0001 per share (the “Common Stock”), of the Company according to the conditions hereof, as of the date written below. If the Common Stock is to be issued in the name of a person other than the undersigned, the undersigned will pay all transfer taxes payable with respect thereto and is delivering herewith such certificates and opinions as reasonably requested by the Company in accordance therewith. No fee will be charged to the holder for any conversion, except for such transfer taxes, if any.

On October 17, 2024, Incannex Healthcare Inc. (“Company”) completed a closing for the issuance of a secured convertible debenture (“Debenture”) in the principal amount of $3,333,333, with 10% original issue discount and payment-in-kind interest rate at 5%, to Arena Special Opportunities (Offshore) Master II LP (“Arena”). The Debenture matures on April 14, 2026.

Issuer evidence: On October 17, 2024, Incannex Healthcare Inc. (“Company”) completed a closing for the issuance of a secured convertible debenture (“Debenture”) in the principal amount of $3,333,333, with 10% original issue discount and payment-in-kind interest rate at 5%, to Arena Special Opportunities (Offshore) Master II LP (“Arena”). The Debenture matures on April 14, 2026.

Supporting evidence: On October 17, 2024, Incannex Healthcare Inc. (“Company”) completed a closing for the issuance of a secured convertible debenture (“Debenture”) in the principal amount of $3,333,333, with 10% original issue discount and payment-in-kind interest rate at 5%, to Arena Special Opportunities (Offshore) Master II LP (“Arena”). The Debenture matures on April 14, 2026.

Supporting evidence: On October 17, 2024, Incannex Healthcare Inc. (“Company”) completed a closing for the issuance of a secured convertible debenture (“Debenture”) in the principal amount of $3,333,333, with 10% original issue discount and payment-in-kind interest rate at 5%, to Arena Special Opportunities (Offshore) Master II LP (“Arena”). The Debenture matures on April 14, 2026.