Petros Pharmaceuticals Announces Reverse Stock Split Common Stock Will Begin Trading on Split-Adjusted Basis on

Petros Pharmaceuticals Announces Reverse Stock

Common Stock Will Begin Trading on Split-Adjusted

Basis on December 1, 2022

New York - November 30, 2022 -

Petros Pharmaceuticals, Inc. ("Petros" or "the Company") (Nasdaq: PTPI), a leading provider of therapeutics for

men's health, today announced that it intends to effect a reverse stock split of its common stock at a ratio of 1 post-split share

for every 10 pre-split shares. The reverse stock split will become effective at 4:05 p.m. on Wednesday, November 30, 2022. Petros'

common stock will continue to be traded on the Nasdaq Stock Market under the symbol PTPI and will begin trading on a split-adjusted basis

when the market opens on Thursday, December 1, 2022.

At the annual meeting of stockholders held on

November 29, 2022, Petros' stockholders granted the Company's Board of Directors the discretion to effect a reverse stock

split of Petros' common stock through an amendment to its Amended and Restated Certificate of Incorporation at a ratio of not less

than 1-for-4 and not more than 1-for-10, with such ratio to be determined by the Company's Board of Directors.

At the effective time of the reverse stock split,

every ten shares of Petros' issued and outstanding common stock will be converted automatically into one issued and outstanding

share of common stock without any change in the par value per share. Stockholders holding shares through a brokerage account will have

their shares automatically adjusted to reflect the 1-for-10 reverse stock split. It is not necessary for stockholders holding shares of

the Company's common stock in certificated form to exchange their existing stock certificates for new stock certificates of the

Company in connection with the reverse stock split, although stockholders may do so if they wish.

The reverse stock split will affect all stockholders

uniformly and will not alter any stockholder's percentage interest in the Company's equity, except to the extent that the

reverse stock split would result in a stockholder owning a fractional share. Any fractional share of a stockholder resulting from the

reverse stock split will be rounded up to the nearest whole number of shares. The reverse stock split will reduce the number of shares

of Petros' common stock outstanding from 20,708,024 shares to approximately 2,070,803 shares. Proportional adjustments

will be made to the number of shares of Petros' common stock issuable upon exercise or conversion of Petros' equity awards,

convertible preferred stock and warrants, as well as the applicable exercise price. Stockholders with shares in brokerage accounts should

direct any questions concerning the reverse stock split to their broker; all other stockholders may direct questions to the Company's

transfer agent, Pacific Stock Transfer Co. by calling them at +1 (800) 785 7782 or writing them at 6725 Via Austi Parkway, Suite

300, Las Vegas, Nevada 89119.

About Petros Pharmaceuticals

Petros Pharmaceuticals is committed to the

goal of becoming a world-leading specialized men's health company by identifying, developing, acquiring, and commercializing

innovative therapeutics for men's health issues, including, but not limited to, erectile dysfunction, endothelial dysfunction,

psychosexual and psychosocial ailments, Peyronie's disease, hormone health, and substance use disorders.

Cautionary Note Regarding Forward-Looking Statements

This press release includes forward-looking

statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange

Act of 1934, as amended. These forward-looking statements are based upon Petros Pharmaceuticals, Inc.'s ("Petros,"

"we," "our," "us" or the "Company") management's assumptions, expectations,

projections, intentions and beliefs about future events. In some cases, predictive, future-tense or forward-looking words such as

"intend," "develop," "goal," "plan," "predict", "may,"

"will," "project," "estimate," "anticipate," "believe,"

"expect," "continue," "potential," "opportunity," "forecast,"

"should," "target," "strategy" and similar expressions, whether in the negative or affirmative,

that reflect our current views with respect to future events and operational, economic and financial performance are intended to

identify forward-looking statements, but are not the exclusive means of identifying such statements. Such forward-looking statements

are only predictions, and actual results and the timing of certain events and circumstances may differ materially from those

described by the forward-looking statements as a result of risks and uncertainties, including, without limitation, the effect that

the reverse stock split may have on the price of Petros' common stock, Petros' ability to execute on its business

strategy, including its plans to develop and commercialize its product candidates; Petros' ability to comply with obligations

as a public reporting company; Petros' ability to regain and maintain compliance with the Nasdaq Stock Market's listing

standards; the ability of Petros to timely and effectively implement controls and procedures required by Section 404 of the

Sarbanes-Oxley Act of 2002; the risk that the financial performance of Petros may not be as anticipated by the merger transactions

that resulted in the Company's creation; risks resulting from Petros' status as an emerging growth company, including

that reduced disclosure requirements may make shares of Petros common stock less attractive to investors; risks related to

Petros' ability to continue as a going concern; risks related to Petros' history of incurring significant losses; risks

related to Petros' dependence on the commercialization of a single product, STENDRA ; risks related to Petros'

ability to obtain regulatory approvals for, or market acceptance of, any of its products or product candidates; and the expected or

potential impact of the novel coronavirus ("COVID-19") pandemic, including the emergence of new variants, such as the

Omicron BA.5 variant, and the related responses of governments, consumers, customers, suppliers, employees and the Company, on our

business, operations, employees, financial condition and results of operations. Additional factors that could cause actual results

to differ materially from the results anticipated in these forward-looking statements are contained in the Company's periodic

reports and in other filings that the Company has filed, or may file, with the U.S. Securities and Exchange Commission (the

"SEC") under the headings "Risk Factors" and "Management's Discussion and Analysis of Financial

Condition and Results of Operations" and elsewhere. The Company cautions readers that the forward-looking statements included

in this press release represent our beliefs, expectations, estimates and assumptions only as of the date of hereof and are not

intended to give any assurance as to future results. New factors emerge from time to time, and it is not possible for us to predict

all of these factors. Further, the Company cannot assess the effect of each such factor on our business or the extent to which any

factor, or combination of factors, may cause actual results to be materially different from those contained in any forward-looking

statement. Accordingly, you should not unduly rely on any forward-looking statements.

The Company undertakes no obligation to update

or revise any forward-looking statements contained in this press release, whether as a result of new information, future events, a change

in our views or expectations or otherwise, except as required by federal securities laws.