ADDEX THERAPEUTICS LTD INDEX TO UNAUDITED INTERIM CONDENSED CONSOLIDATED FINANCIAL STATEMENTS Unaudited Interim Condensed Consolidated Financial Statements Unaudited Interim Condensed Consolidated Balance Sheets as at

ADDEX THERAPEUTICS LTD

INDEX TO UNAUDITED INTERIM CONDENSED CONSOLIDATED

FINANCIAL STATEMENTS

Interim Condensed Consolidated Financial Statements

ADDEX THERAPEUTICS LTD

Unaudited Interim Condensed Consolidated Balance

as of March 31, 2021, and December 31, 2020

The accompanying notes form an integral part of

these consolidated financial statements.

Quarter 1 Report Interim Condensed

Consolidated Financial Statements

ADDEX THERAPEUTICS LTD

Unaudited Interim Condensed Consolidated Statements

of Comprehensive Loss

for the three-month periods ended March 31,

The accompanying notes form an integral part of

these consolidated financial statements.

1 Report Interim Condensed Consolidated Financial Statements

ADDEX THERAPEUTICS LTD

Unaudited Interim Condensed Consolidated Statements

of Changes in Equity

For the three-month periods ended March 31,

The accompanying notes form an integral part of

these consolidated financial statements.

1 Report Interim Condensed Consolidated Financial Statements

ADDEX THERAPEUTICS LTD

Unaudited Interim Condensed Consolidated Statements

for the three-month periods ended March 31,

The accompanying notes form an integral part of

these consolidated financial statements.

Interim Condensed Consolidated Financial Statements Notes

Unaudited Notes to the Interim Condensed Consolidated

Financial Statements

(Amounts in Swiss francs)

1. General information

Addex Therapeutics Ltd (the "Company"), formerly Addex

Pharmaceuticals Ltd, and its subsidiaries (together, the "Group") are a clinical stage pharmaceutical group applying its

leading allosteric modulator drug discovery platform to discovery and development of small molecule pharmaceutical products, with an

initial focus on central nervous system disorders.

The Company is a Swiss stockholding corporation domiciled c/o Addex

Pharma SA, Chemin des Aulx 12, CH1228 Plan-les-Ouates, Geneva, Switzerland and the parent company of Addex Pharma SA, Addex Pharmaceuticals

France SAS and Addex Pharmaceuticals Inc. registered in Delaware with its principal business location in San Francisco, California, United

States. Its registered shares are traded at the SIX, Swiss Exchange, under the ticker symbol ADXN. On January 29, 2020, the Group listed

on the Nasdaq Stock Market, American Depositary Shares (ADSs) under the symbol "ADXN", without a new issuance of securities.

ADSs represents shares that continue to be admitted to trading on SIX Swiss Exchange.

These condensed consolidated financial statements have been approved

for issuance by the Board of Directors on May 4, 2021.

2. Basis of preparation

These condensed consolidated interim financial statements for the

three months ended March 31, 2021, have been prepared under the historic cost convention and in accordance with IAS 34 "Interim

Financial Reporting" and are presented in a format consistent with the consolidated financial statements under IAS 1 "Presentation

of Financial Statements". However, they do not include all of the notes that would be required in a complete set of financial statements.

Thus, this interim financial report should be read in conjunction with the consolidated financial statements for the year ended December

Interim financial results are not necessarily indicative of results

anticipated for the full year. The preparation of these unaudited condensed consolidated interim financial statements made in accordance

with IAS 34 requires the use of estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of

contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the

reporting period. Although these estimates are based on management's best knowledge of current events and actions, actual results

ultimately may differ from those estimates. The areas involving a higher degree of judgment which are significant to the condensed consolidated

interim financial statements are disclosed in note 4 to the consolidated financial statements for the year ended December 31, 2020.

A number of new or amended standards and interpretations became applicable

for financial periods beginning on or after January 1, 2021. The Group noted that the latter did not have a material impact on the Group's

financial position or disclosures made in the condensed consolidated interim financial statements.

Due to rounding, numbers presented throughout these condensed consolidated

financial statements may not add up precisely to the totals provided. All ratios and variances are calculated using the underlying amount

rather than the presented rounded amount.

3. Critical accounting estimates and judgments

The Group makes estimates and assumptions concerning the future. These

estimates and judgments are continually evaluated and are based on historical experience and other factors, including expectations of

future events that are believed to be reasonable under the circumstances. The resulting accounting estimates will, by definition, seldom

equal the related actual results. The estimates and assumptions that have a significant risk of causing a material adjustment to the

carrying amounts of assets and liabilities or may have had a significant impact on the reported results are disclosed below:

The Group's accounts are prepared on a going concern basis.

To date, the Group has financed its cash requirements primarily from share issuances and licensing certain of its research and development

stage products. The Group is a development-stage enterprise and is exposed to all the risks inherent in establishing a business. The

Group maintains detailed financial forecasts and monitors actual results on a regular basis so that measures can be taken to ensure the

Group remains solvent.

Interim Condensed Consolidated Financial Statements Notes

In early 2020 a coronavirus disease (COVID-19) pandemic developed

globally resulting in a significant number of infections and negative effects on economic activity. The Group is actively monitoring

the situation and is taking any necessary measures to respond to the situation in cooperation with the various stakeholders. On March

18, 2020, the Group announced the suspension of the initiation of a placebo-controlled Phase 2b/3 pivotal clinical trial of dipraglurant

in levodopa-induced dyskinesia associated with Parkinson's disease (dipraglurant PD-LID). The Group decided to suspend the trial

based on the inability of planned clinical trial sites in the United States to initiate the trial in full compliance with the Group's

planned clinical trial procedures including with respect to data reporting, data monitoring, and the recommendations of various health

authorities that the infirm patients who would participate in the trial not risk being exposed to COVID-19 at clinical trial sites. Such

sites have been and may continue to be required to focus their limited resources on matters unrelated to our planned clinical trial,

thereby decreasing availability, in whole or in part, for services to our planned clinical trial. The Group will not be able to initiate

the trial until these risks have been significantly reduced or remediated. Although the Group believes, based on current projections

of the pandemic, that it will be able to initiate the trial in the second quarter of 2021, the duration of the COVID-19 crisis is uncertain

and, if the enumerated risks are not addressed, the Group may have to adjust its expectations as to trial initiation, including potentially

initiating the trial later in 2021, in order to accommodate the foregoing factors. In addition, the COVID-19 pandemic may affect the

operations of the FDA and other health authorities, which could result in delays of reviews and approvals, including with respect to

dipraglurant and our other product candidates. Any such delays could increase the cost of our planned clinical trial and increase the

uncertainty of receiving approval from the FDA for dipraglurant in PD-LID patients. Depending on the duration of the COVID-19 crisis