プレミアアンチエイジング（4934） – This is an announcement regarding an exclusive license agreement with sublicensing rights of DDS technology DehydraTECH TM by the group company.

June 3, 2022 Company name Representative Inquiries Premier Anti-Aging Co., Ltd.(Securities code：4934 Tokyo Stock Exchange)Representative Kiyoshi Matsuura,President and RepresentativeDirectorTakahiroToya,Managing Executive Officer and Director(Telephone．+81-3-3502-2020) This is an announcement regarding an exclusive license agreement with sublicensing rights of DDS technology DehydraTECH ™ by the group company. Premier Wellness Science Co., Ltd., a subsidiary of Premier Anti-aging, (Headquarters: Minato-ku, Tokyo, President: Shinji Hosoyama, hereinafter “PWS”), and Lexaria Bioscience Corp.（Nasdaq：LEXX、CEO：Chris Bunka, hereafter「Lexaria」) have signed an exclusive license agreement with sublicensing rights, incorporating Lexaria’s DDS technology DehydraTECH ™ for non-pharmaceutical Japanese products. The impact of this agreement on the consolidated results is negligible. News Release June 3, 2022 Lexaria Bioscience Corp. (Nasdaq：LEXX) Premier Wellness Science Co., Ltd. (PWS) Lexaria Bioscience Corp. and Premier Wellness Science Co., Ltd. agree to an exclusive license agreement with sublicense approval. Lexaria Bioscience Corp.（Nasdaq：LEXX、CEO：Chris Bunka、hereafter「Lexaria」） and Premier Wellness Science Co., Ltd. (Headquarters: Minato-ku, Tokyo, President: Shinji Hosoyama, hereinafter “PWS”) have agree to an exclusive license agreement with sublicensing rights, incorporating Lexaria’s DDS(* 1) technology DehydraTECH ™ to non-pharmaceutical domestic products. With this partnership finalized, as the first measure, we will optimize the biophysical properties like CBD(* 2), which has an unstable, poorly water-solubility, and develop more effective products that maximize the drug efficacy according to different administration route, dosage form, application, while minimizing side effects. We aim complete the research as soon as possible. 1. About Lexaria’s DehydraTech™ Lexaria is an innovative drug delivery technology company. With 25 patents approved and more than 50 pending patent applications worldwide, the company has a strong intellectual property portfolio. DehydraTECH ™, a its core technology, enhances the efficacy of poorly water-soluble compounds, promotes the effectiveness of oral ingestion. Through its effective absorption, DehydraTech™ will lower the required amount of active ingredients (APIs) to enter the bloodstream. Furthermore, the product can also be applied to a variety of oral ingestion forms such as foods, beverages, tablets and capsules, as well as external skin preparations. Since 2016, the company has the improved DehydraTECH ™’s bio-absorption of cannabinoids(* 3), like CBD, by 10 times. In some studies it conducted, it even found that DehyraTech™-infused products recorded 27 times more absorption than that of standard-market formulations, within 1-2 hours of onset time. Our company has repeatedly demonstrated that DehydraTECH ™ shortens absorption period to a few minutes. Orally administered antivirals, non-steroidal anti-inflammatory drugs (NSAIDs), and PDE5 inhibitors have been empirically evaluated and proven to have the ability to deliver nutrients more effectively across the blood-brain barrier. 2. Lexaria’s Approved Patent Portfolio in Japan Applicable products: non-pharmaceutical area ▪ ▪ ▪ Japanese patent registration number (JP 6920197): Food and beverage composition injected with lipophilic activator and its usage Japanese patent registration number (JP 6963507): A method for formulating an orally ingestible composition containing a fat-soluble active substance. Japanese Patent Registration Number (JP 6917310): Stable ready-to-drink beverage composition containing fat-soluble active substances 3. Purpose and Background of this Agreement ▪ Purpose By combining the strengths and resources that both companies can offer, our goal is to become a valuable, reliable, and consumer-focused cannabinoid platform that integrates the R&D, supply, and demand chain. ▪ Background PWS has been conducting joint research with multiple research institutes to improving safety, stability, and effectiveness of cannabinoid-infused products. In addition to our key research data, we are simultaneously developing our intellectual property portfolio. Furthermore, we actively building a value chain to capture long-term growth, by securing a stable supply of cannabinoid raw materials and design of a digital marketing platform in collaboration with the parent company Premier Anti-Aging (TSE: 4934). It has been demonstrated by research institutions in many countries that DehydraTECH ™ increases Bioavailability (BA) and onset period, which has been a problem for consumers who purchase cannabinoid products. PWS will apply DehydraTECH ™ to products containing cannabinoids, which will further improve quality and overall consumer experience. 4. Future Outlook The two companies will continue to discuss strategies on the following three topics: (1) Utilization of sublicense rights to issue DehydraTECH ™ to third-party companies. (2) Collaborative research of DehydraTECH ™ in non-pharmaceutical fields, joint-application and utilization rights based on the research. (3) Strategic expansion into Asian markets, research of foreign market regulations, and establishment of compliant operations, following a successful Japanese market penetration. 5. Overview of Both Companies ■ Lexaria Bioscience Corp. Founded December, 2014 CEO Chris Bunka ■ Premier Wellness Science Co., Ltd. Founded December, 2020 #100 – 740 McCurdy Road, Kelowna, British Columbia, Canada V1X 2P7, Canada Address Specialization Drug Delivery System R&D, IP Rights, and License Issuance Website Stock https://www.lexariabioscience.com/ Nasdaq: LEXX CEO Address Specialization Website Ownership Shinji Hosoyama Tranomon Hills Mori Tower, 1-23-1 Toranomon, Minato-ku, Tokyo, Japan R&D and product development of product categories, such as health, beauty, anti-aging, sports, and business consulting services https://www.p-wellnessscience.co.jp/ Premier Anti-Aging Co., Ltd. TSE: 4934 6. Inquiries regarding this release Premier Wellness Science Co., Ltd. For any inquiries, please visit our website, https://p-wellnessscience.co.jp/contact/ Due measures to prevent infection with the new coronavirus, inquiries by phone may be difficult, so please contact us through our suggested method above. Lexaria Bioscience Corp. INVESTOR CONTACT George Jurcic – Head of Investor Relations ir@lexariabioscience.com Phone: 250-765-6424, ext 202 7. About the Press Release The information contained in the news release is current as of the date of the announcement. Hereafter, it may be change without further announcement. Please note the following: * 1 Drug delivery system (DDS) A pharmaceutical technology that minimizse side effects, while maximizing drug efficacy by controlling the drug distribution in the body. It is classified as the following according to the drug to be used and the intended use; Promotion of drug absorption, sustained release performance to enhance drug sustainability, longevity of drugs with fast metabolism in the body, targeting performance to deliver drugs only to specific sites such as tissues and cells targeted. * 2 CBD (cannabidiol) One of the bioactive cannabinoid compounds, contained in industrial hemp. In the 1990s, researchers discovered that the humans and animals have a physiological system that regulates biological functions, called ECS (endocannabinoid system). ECS is composed of cannabinoids in the body called “Anandamide” and “2-AG”, and cannabinoid receptors “CB1” that are part of the nerve cells that bind to them, as well as cannabinoid receptors “CB2” that are part of the immune cells. It manages biological functions such as appetite, pain, immune regulation, emotional control, motor function, development and aging, neuroprotection, cognition and memory, and supports cell-to-cell regulations. Recent studies have revealed that cannabinoid-deficient ECS can lead to various diseases due to strong external stress and weakening of functionality from aging. There are 114 types of cannabinoid compounds that have only been confirmed at the moment, and one of them, CBD (cannabidiol), has been found to have an effect of regulating ECS and serves as a functional ingredient in pharmaceuticals, cosmetics, foods. *3 Cannabinoid A general term for physiologically active substances contained in industrial hemp. There are 114 cannabinoid.