EARLY WARNING REPORT ISSUED PURSUANT TO NI 62‐103 - ACQUISITION OF SECURITIES OF AION THERAPEUTIC INC.

CALGARY, AB, Dec. 19, 2023 /CNW/ - This press release is being disseminated as required by National Instrument 62‐103 in connection with the filing of an Early Warning Report regarding the acquisition of securities of AION Therapeutic Inc. (the "Company"), 700 West Georgia Street, Suite 2200, Vancouver, British Columbia, V7Y 1K8.

On December 15, 2023, Qatar Consultant Inc. (the "Acquiror"), acquired an aggregate of 45,000,000 common shares in the capital of the Company (each, a "Common Share"), at a deemed price of $0.05 per Common Share, as part of an acquisition whereby the Company acquired all of the issued and outstanding shares Toppen Health Inc. for a purchase price of CDN$10,000,000 (the "Transaction") satisfied by the issuance of 200,000,000 Common Shares (the "Consideration Shares") which took place through the facilities of the Canadian Securities Exchange (the "CSE"). The Acquior was allotted the 45,000,000 Consideration Shares in connection with certain M&A advisory services provided relating to the Transaction.

The Consideration Shares are subject to an escrow period of three years pursuant to the requirements of the CSE, with the first release of 10% of the Consideration Shares to take place ten days following the filing of the Company's Business Acquisition Report and Listing Statement, and the balance of the Consideration Shares in equal tranches of 15% every six months following the initial release date.

Prior to the closing of the Transaction, the Acquiror did not hold any Common Shares. Following the completion of the Transaction the Acquiror holds an aggregate of 45,000,000 Common Shares for 10.93% of the issued and outstanding Common Shares of the Company.

The Common Shares were acquired for investment purposes only and not for the purpose of exercising control or direction over the Company. The Acquiror may, from time to time, increase or decrease its shareholding or continue to hold securities of the Company as it may determine appropriate in the normal course of investment activity. In the future, the Acquiror may, directly or indirectly, acquire additional securities of the Company or dispose of such securities subject to a number of factors, including, without limitation, general market and economic conditions and other investment and business opportunities available.

A copy of the Early Warning Report to be filed by the Acquiror will be available on SEDAR under the Company's profile on www.sedar.com.

This early warning news release is issued under the early warning provisions of Canadian securities legislation, including National Instrument 62-104 - Take-Over Bids and Issuer Bids and National Instrument 62-103 - The Early Warning System and Related Take-Over Bid and Insider Reporting Issues.

The Canadian Securities Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this press release nor have they approved nor disapproved the content thereof.

Doug Wilson, Partner

SOURCE Qatar Consultant Inc.

Qatar Consultant Inc., 24270 Meadow Drive, Calgary, AB T3R 1A8, 403-616-1106