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

Unaudited Interim Condensed Consolidated Financial Statements

Unaudited Interim Condensed Consolidated Balance

as of March 31, 2025, and December 31,

The accompanying notes form an integral part of

these consolidated financial statements.

Unaudited Interim Condensed Consolidated Financial Statements

Unaudited Interim Condensed Consolidated Statements

of Comprehensive Loss

for the three-month period ended March 31,

The accompanying notes form an integral part of

these consolidated financial statements.

Therapeutics Unaudited 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.

Therapeutics Unaudited Interim Condensed Consolidated Financial Statements

Unaudited Interim Condensed Consolidated Statements

for the three-month periods ended March 31,

During the three-month period ended March 31, 2025 non-cash items

of CHF 0.9 million primarily relate to the share of the net loss of associates (note 22).

The accompanying notes form an integral part of

these consolidated financial statements.

Addex Therapeutics Unaudited Interim

Condensed Consolidated Financial Statements Notes

Unaudited Notes to the Interim Condensed Consolidated

Financial Statements

for the three-month period ended March 31,

(Amounts in Swiss francs)

1. General information

Addex Therapeutics Ltd (the "Company")

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.

The Company is 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 and Addex Pharmaceuticals Inc. Addex Therapeutics also owns a 20% equity interest in Neurosterix

US Holdings LLC, USA. Neurosterix US Holdings LLC fully owns directly Neurosterix Swiss Holdings AG, Switzerland and indirectly Neurosterix

Pharma S rl whose principal place of business is Chemin des Mines 9, CH 1202 Geneva, Switzerland.

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 and

its American Depositary Shares (ADSs) on the Nasdaq Stock Market under the symbol ADXN. 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 18, 2025.

2. Basis of preparation

These interim condensed consolidated financial

statements for the three-month period ended March 31, 2025, 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, 2024.

Interim financial 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,

A number of new or amended standards and interpretations

became applicable for financial reporting periods beginning on or after January 1, 2025. Of the latter, the Group noted the amendment

of IAS 21: The Effects of Changes in Foreign Exchange rates relating to the exchange rate of currencies that are not exchangeable. The

Group concluded that this amendment was not relevant as the Group only uses major currencies. The Group is also assessing other new and

revised standards which are not mandatory until after 2025 and noted that IFRS 18 - Presentation and Disclosure in Financial Statements

will replace IAS 1 - Presentation of Financial Statements - from January 1, 2027 and may impact the presentation and structure of

the Group's primary financial statements and related disclosures.

Due to rounding, 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. Where necessary, comparative figures have been revised

to conform with the current year 2025.

Addex Therapeutics Unaudited Interim

Condensed Consolidated Financial Statements Notes

3. Material 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

The Group's 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 with 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 interim condensed consolidated financial statements

will be sufficient to fund its operations and meet all of its obligations as they fall due, through mid-June 2026. These factors

individually and collectively indicate that a material uncertainty exists that raises substantial doubt about the Group's ability

to continue as a going concern for one year from the date of issuance of these unaudited interim condensed consolidated financial statements.

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