Quantum BioPharma (NASDAQ:QNTM) Announces At-The-Market Offering of Class B Shares

TORONTO, ON — October 31, 2025 — Leads & Copy — Quantum BioPharma Ltd. (NASDAQ: QNTM) (CSE: QNTM) (FRA: 0K9A) announced it may offer and sell Class B Subordinate Voting Shares up to US$21,225,000 through H.C. Wainwright & Co., LLC, as sales agent, according to the at the market offering agreement entered on February 16, 2024.

Wainwright will receive a cash commission of 3.0% on the gross proceeds raised. Sales will be made in transactions deemed “at-the-market” on the Nasdaq Stock Market LLC at prevailing market prices. The company intends to use the net proceeds to fund clinical studies, research and development, and for general corporate purposes.

The ATM Offering is being made pursuant to a registration statement on Form F-3 filed with the SEC, declared effective on January 4, 2024. The prospectus supplement was dated October 31, 2025.

This press release does not constitute an offer to sell or a solicitation of an offer to buy securities.

Zeeshan Saeed, Founder, CEO and Executive Co-Chairman of the Board, Quantum BioPharma Inc. Email: Zsaeed@quantumbiopharma.com Telephone: (833) 571-1811

Investor Relations: IR@QuantumBioPharma.com

General Inquiries: info@QuantumBioPharma.com

Source: Quantum BioPharma Ltd.

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