• Valeo’s President and Chief Operating Officer steps down and will continue as special advisor and member of the Board of Directors

MONTREAL, QUEBEC , November 21, 2022 – Valeo Pharma Inc. (TSX:VPH, OTCQB: VPHIF, FSE: VP2) (“Valeo” or the “Company”), a Canadian pharmaceutical company, today announced that Mr. Frederic Fasano has stepped down as Valeo’s President and Chief Operating Officer. Mr. Fasano will continue to act as special advisor to the Company and will remain on the Board of Directors. Mr. Fasano’s duties and responsibilities are being integrated and assumed by the Company’s CEO, Steve Saviuk and its Chief Commercial Officer, Mr. Kyle Steiger.  

“On behalf of the entire Company, I would like to express my appreciation to Frederic for his dedication and contribution to Valeo’s growth over the last 22 months,” said Steve Saviuk, Chief Executive Officer. ” The Company will continue to benefit from his insights as an advisor and member of our Board of Directors and we wish him the best in his future endeavours”.

“I am proud of what Valeo has been able to accomplish over the last two years. Valeo has significantly grown its portfolio of innovative products, its dedicated team and it has the corporate structure to continue delivering on its impressive revenue growth”, said Frederic Fasano. “ I wish all the best to the team at Valeo as they aspire to become one of the leading Canadian pharma companies”

About Valeo Pharma Inc.

Valeo Pharma is a pharmaceutical company dedicated to the commercialization of innovative prescription products in Canada with a focus on Respirology/Allergy, Ophthalmology and Specialty Products. Headquartered in Kirkland, Quebec, Valeo Pharma has the full capability and complete infrastructure to register and properly manage its growing product portfolio through all stages of commercialization. For more information, please visit www.valeopharma.com and follow us on LinkedIn and Twitter.

Forward Looking Statements

This press release contains forward-looking statements about Valeo’s objectives, strategies and businesses that involve risks and uncertainties. These statements are “forward-looking” because they are based on our current expectations about the markets we operate in and on various estimates and assumptions. Actual events or results may differ materially from those anticipated in these forward-looking statements if known or unknown risks affect our business, or if our estimates or assumptions turn out to be inaccurate.

For more information:

Steve Saviuk

CEO

514-693-8830

saviuk@valeopharma.com

or

Luc Mainville

Senior Vice-President and Chief Financial Officer

514-693-8854

mainville@valeopharma.com

or

Frederic Dumais

Director, Communications and Investor Relations

514-261-4735dumais@valeopharma.com