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

INTERIM CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

Therapeutics Unaudited Interim Condensed Consolidated Financial Statements

Interim Condensed Consolidated Balance Sheets

2024, and December 31, 2023

notes form an integral part of these consolidated financial statements.

Therapeutics Unaudited Interim Condensed Consolidated Financial Statements

Condensed Consolidated Statements of Comprehensive Loss

periods ended March 31, 2024 and 2023

The comparative information has been re-presented due to discontinued operations that have

been reclassed to the financial line called "Net loss from discontinued operations" (note 20). In the notes of this unaudited

interim condensed consolidated financial statements related to comprehensive loss information, an asterisk will remind when comparative

information has been re-presented.

notes form an integral part of these consolidated financial statements.

Therapeutics Unaudited Interim Condensed Consolidated Financial Statements

Interim Condensed Consolidated Statements of Changes in Equity

the three-month period ended March 31, 2023

notes form an integral part of these consolidated financial statements.

Therapeutics Unaudited Interim Condensed Consolidated Financial Statements

Interim Condensed Consolidated Statements of Changes in Equity

period ended March 31, 2024

notes form an integral part of these consolidated financial statements.

Therapeutics Unaudited Interim Condensed Consolidated Financial Statements

Interim Condensed Consolidated Statements of Cash Flows

periods ended March 31, 2024 and 2023

significant non-cash items related to the fair value of the share-based services (note 13) and the right of use assets (note 8). The

funds received from the grant Eurostars/Innosuisse and the associate deferred income have been recorded as asset and liability held for

sale respectively (notes 16 and 20).

notes form an integral part of these consolidated financial statements.

Unaudited Interim Condensed Consolidated Financial Statements Notes

Notes to the Interim Condensed Consolidated Financial Statements

period ended March 31, 2024

1. General information

Ltd (the "Company"), formerly Addex Pharmaceuticals Ltd, and its subsidiaries (together, the "Group") are a clinical

stage biopharmaceutical company focused on developing a portfolio of novel small molecule allosteric modulators for neurological disorders.

a Swiss stockholding corporation domiciled c/o Addex Pharma SA, Chemin des Aulx 12, CH 1228 Plan-les-Ouates, Geneva, Switzerland and

the parent company of Addex Pharma SA, Addex Pharmaceuticals France SAS, Neurosterix Pharma S rl, Neurosterix SA and Addex Pharmaceuticals

Inc. The Groups principal place of business is Chemin des Mines 9, CH 1202 Geneva, Switzerland. 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 interim condensed

consolidated financial statements have been approved for issuance by the Board of Directors on June 5, 2024.

2. Basis of preparation

These interim condensed

consolidated financial statements for the three-month period ended March 31, 2024, 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, 2023.

results are not necessarily indicative of results anticipated for the full year. The preparation of these unaudited interim condensed

consolidated 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 interim condensed consolidated financial statements are disclosed in note 4 to the consolidated

financial statements for the year ended December 31, 2023.

or amended standards and interpretations became applicable for financial reporting periods beginning on or after January 1, 2024.

Of the latter, the Group noted the publication of IFRS S1 (General requirement for disclosure of sustainability-related financial information)

and IFRS S2 (climate - related Disclosures). The Group concluded that those new IFRS standards were not relevant as the Group did

not opt for the publication of a sustainability report in accordance with Six Swiss Exchange listing rules.

new standards, amendments and interpretations which have been deemed by the Group as currently not relevant, hence are not listed or

discussed further here.

numbers presented throughout these interim condensed consolidated financial statements may not add up precisely to the totals provided.

All ratios and variances are calculated using the underlying amounts rather than the presented rounded amounts.

comparative figures have been revised to conform with the current year 2024 presentation. In particular, we re-presented the unaudited

interim condensed consolidated statements of comprehensive loss of the first quarter of 2023, in order to reclass discontinued operations

in accordance with IFRS 5 (note 20). In addition, the ADS numbers previously disclosed have been amended following the change in ADS

ratio executed on October 23, 2023, from one ADS to six shares to a new ratio of one ADS to one hundred and twenty shares. The ADS

ratio change had the same effect as a one to twenty ADS reverse split and except as otherwise indicated, all information in these consolidated

financial statements gives retroactive effect to the ADS Ratio Change.

Unaudited Interim Condensed Consolidated Financial Statements Notes

3. Material accounting estimates

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:

accounts are prepared on a going concern basis. To date, the Group has financed its cash requirements primarily from share issuances,

licensing certain of its research and development stage products and selling its allosteric modulator drug discovery technology platform

and a portfolio of preclinical programs. 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, at the issuance date of these unaudited consolidated financial

statements will be sufficient to fund its operations and meet all of its obligations as they fall due, through 2026. The future viability

of the Group is dependent on its ability to raise additional capital through public or private financings or collaboration agreements

to finance its future operations, which may be delayed due to reasons outside of the Group's control including health pandemics

and geopolitical risks. 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 collaboration agreements, 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 condition.

of the Group could be adversely affected by health pandemics and geopolitical risks

business of the Group could be adversely affected by health epidemics and geopolitical risks in regions where the Group