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

ADDEX THERAPEUTICS LTD

INDEX TO UNAUDITED INTERIM CONDENSED CONSOLIDATED

FINANCIAL STATEMENTS

Therapeutics Interim Condensed Consolidated Financial Statements

Unaudited Interim Condensed Consolidated Balance

as of March 31, 2022, and December 31,

The accompanying notes form an integral part of

these consolidated financial statements.

Interim Condensed Consolidated Financial Statements

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.

Interim Condensed Consolidated Financial Statements

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.

Interim Condensed Consolidated Financial Statements

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.

Therapeutics Interim Condensed Consolidated Financial Statements

Unaudited Notes to the Interim Condensed Consolidated

Financial Statements

for the three-month periods ended March 31,

(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, 2022.

2. Basis of preparation

These condensed consolidated interim financial statements for the three-month

period ended March 31, 2022, 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 31,

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, 2021.

A number of new or amended standards and interpretations became applicable

for financial periods beginning on or after January 1, 2022. 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

expects that its existing cash and cash equivalents will be sufficient to fund its operations and meet all of its obligations as they

fall due for at least twelve months from the date of issuance of these unaudited condensed consolidated financial statements. The future

viability of the Group is dependent on its ability to raise additional capital to finance its future operations that may be delayed due

to COVID 19 pandemic and the Russia's invasion of Ukraine. The Group will seek additional funding through public or private financings

or collaboration agreements. The sale of additional equity may dilute existing shareholders. The inability to obtain funding, as and when

needed, would have a negative impact on the Group's financial condition and ability to pursue its business strategies. If the Group

is unable to obtain the required funding to run its operations and to develop and commercialize its product candidates, the Group could

be forced to delay, reduce or stop some or all of its research and development programs to ensure it remains solvent. Management continues

to explore options to obtain additional funding, including through collaborations with third parties related to the future potential development

and/or commercialization of its product candidates. However, there is no assurance that the Group will be successful in raising funds,

closing a collaboration agreement, obtaining sufficient funding on terms acceptable to the Group, or if at all, which could have a material

adverse effect on the Group's business, results of operations and financial conditions.

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 (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

On June 29, 2021, the Group announced the initiation of a placebo-controlled

Phase 2b/3 pivotal clinical trial of dipraglurant in PD-LID and expect to report topline results in the first half of 2023. On September 29,