<SEC-DOCUMENT>0001213900-22-067737.txt : 20221031
<SEC-HEADER>0001213900-22-067737.hdr.sgml : 20221031
<ACCEPTANCE-DATETIME>20221031171358
ACCESSION NUMBER:		0001213900-22-067737
CONFORMED SUBMISSION TYPE:	PRE 14A
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20221031
FILED AS OF DATE:		20221031
DATE AS OF CHANGE:		20221031

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			Pasithea Therapeutics Corp.
		CENTRAL INDEX KEY:			0001841330
		STANDARD INDUSTRIAL CLASSIFICATION:	PHARMACEUTICAL PREPARATIONS [2834]
		IRS NUMBER:				851591963
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		PRE 14A
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-40804
		FILM NUMBER:		221347060

	BUSINESS ADDRESS:	
		STREET 1:		2110 NARCISSUS CT
		CITY:			VENICE
		STATE:			CA
		ZIP:			90291
		BUSINESS PHONE:		8184226172

	MAIL ADDRESS:	
		STREET 1:		2110 NARCISSUS CT
		CITY:			VENICE
		STATE:			CA
		ZIP:			90291
</SEC-HEADER>
<DOCUMENT>
<TYPE>PRE 14A
<SEQUENCE>1
<FILENAME>ea167817-pre14a_pasithea.htm
<DESCRIPTION>PRELIMINARY PROXY STATEMENT
<TEXT>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>UNITED STATES</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>SECURITIES AND EXCHANGE COMMISSION</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Washington, D.C. 20549</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>SCHEDULE 14A</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Statement Pursuant to Section 14(a) of the</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Securities Exchange Act of 1934</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Filed by the Registrant &#9746;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Filed by a Party other than the Registrant &thinsp;&#9744;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Check the appropriate box:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
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    <TD STYLE="width: 0.25in; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9746;&nbsp;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Preliminary Statement</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9744;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Confidential, for Use of the Commission Only (as permitted by Rule 14a-6(e)(2))</B></FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9744;&nbsp;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Definitive Statement</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9744;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Definitive Additional Materials</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9744;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Soliciting Material under &sect; 240.14a-12</FONT></TD></TR>
  </TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>PASITHEA THERAPEUTICS CORP. </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">(Name of Registrant as Specified In Its Charter)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>N/A</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">(Name of Person(s) Filing Statement if other than
the Registrant)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Payment of Filing Fee (Check the appropriate box):</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 0.25in; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9746;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">No&nbsp;fee required.</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9744;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Fee paid previously with preliminary materials &nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9744;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Fee computed on table in exhibit required by Item 25(b) per Exchange Act Rules 14a-6(i)(1) and 0-11 &nbsp;</FONT></TD></TR>
  </TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="color: Red"><B>PRELIMINARY COPY SUBJECT
TO COMPLETION DATED OCTOBER 31, 2022</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&thinsp;&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>PASITHEA THERAPEUTICS CORP.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B><A NAME="a_001"></A>NOTICE OF SPECIAL MEETING OF STOCKHOLDERS</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>TO BE HELD ON &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;, 2022</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Dear Pasithea Stockholders:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">A Special Meeting of Stockholders (including any
adjournment, postponement or rescheduling thereof, the &ldquo;Special Meeting&rdquo;) of Pasithea Therapeutics Corp., a Delaware corporation
(&ldquo;Pasithea&rdquo; or the &ldquo;Company&rdquo;), will be held on &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;, 2022 at &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; at &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;. The Board of Directors of
the Company (the &ldquo;Board&rdquo;) has called this Special Meeting of the Company&rsquo;s stockholders, in response to the formal request
of Concord IP2 Ltd., Elderhill Corporation, Leonite Capital LLC, Camac Partners, LLC, Camac Capital, LLC, Camac Fund, LP, David Delaney,
Avi Geller And Eric Shahinian (collectively, the &ldquo;Dissident Group&rdquo;), for stockholders to vote on the following proposals submitted
by the Dissident Group.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">If you plan to attend the Special Meeting, please
refer to the attendance and registration information in the accompanying Statement (the &ldquo;Statement&rdquo;).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Special Meeting will be held for the purpose
of voting upon the below proposals submitted by the Dissident Group (collectively, the &ldquo;Proposals&rdquo;):</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in; text-align: left">&#9679;</TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif"><U>Proposal
1A</U>: To remove, without cause, Dr. Tiago Reis Marques as a director of Pasithea (and any other person who is elected, appointed or
designated to fill a vacancy in the Board seat held by such person at any time prior to the time that any of the actions proposed by
the Proposals become effective).</FONT></TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 20pt; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify"><B>THE BOARD UNANIMOUSLY RECOMMENDS VOTING
&ldquo;AGAINST&rdquo; THE REMOVAL OF DR. TIAGO REIS MARQUES.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">&#9679;</TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif"><U>Proposal 1B</U>: To remove, without cause,
Alfred Novak as a director of Pasithea (and any other person who is elected, appointed or designated to fill a vacancy in the Board seat
held by such person at any time prior to the time that any of the actions proposed by the Proposals become effective).</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 20pt; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify"><B>THE BOARD UNANIMOUSLY RECOMMENDS VOTING
&ldquo;AGAINST&rdquo; THE REMOVAL OF ALFRED NOVAK.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">&#9679;</TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif"><U>Proposal 1C</U>:  To remove, without cause,
Professor Lawrence Steinman as a director of Pasithea (and any other person who is elected, appointed or designated to fill a vacancy
in the Board seat held by such person at any time prior to the time that any of the actions proposed by the Proposals become effective).</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 20pt; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify"><B>THE BOARD UNANIMOUSLY RECOMMENDS VOTING
&ldquo;AGAINST&rdquo; THE REMOVAL OF PROFESSOR LAWRENCE STEINMAN.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in; text-align: left">&#9679;</TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif"><U>Proposal
1D</U>: To remove, without cause, Simon Dumesnil as a director of Pasithea (and any other person who is elected, appointed or designated
to fill a vacancy in the Board seat held by such person at any time prior to the time that any of the actions proposed by the Proposals
become effective).</FONT></TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 20pt; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify"><B>THE BOARD UNANIMOUSLY RECOMMENDS VOTING
&ldquo;AGAINST&rdquo; THE REMOVAL OF SIMON DUMESNIL.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in; text-align: left">&#9679;</TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif"><U>Proposal
1E</U>: To remove, without cause, Dr. Emer Leahy as a director of Pasithea (and any other person who is elected, appointed or designated
to fill a vacancy in the Board seat held by such person at any time prior to the time that any of the actions proposed by the Proposals
become effective).</FONT></TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 20pt; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 20pt; text-align: justify"><B></B></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 20pt; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify"><B>THE UNANIMOUSLY BOARD RECOMMENDS VOTING
&ldquo;AGAINST&rdquo; THE REMOVAL OF DR. EMER LEAHY.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 20pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">Proposal 1A, Proposal 1B, Proposal 1C,
Proposal 1D and Proposal 1E are collectively referred to herein as the &ldquo;Director Removal Proposals&rdquo;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in; text-align: left">&#9679;</TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif"><U>Proposal
2</U>: To vote on a proposal related to the filling of vacancies on the Board that arise as the result of the removal of one or more
directors by stockholders (the &ldquo;Board Vacancy Proposal&rdquo;).</FONT></TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 20pt; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify"><B>THE BOARD UNANIMOUSLY RECOMMENDS VOTING
&ldquo;AGAINST&rdquo; THE BOARD VACANCY PROPOSAL.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in; text-align: left">&#9679;</TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif"><U>Proposal
3</U>: To repeal each provision or amendment of Pasithea&rsquo;s bylaws adopted by the Board without the approval of Pasithea&rsquo;s
stockholders after April 13, 2021 (the last date that the bylaws were publicly disclosed by Pasithea), and prior to the approval of this
proposal (the &ldquo;Repeal Proposal&rdquo;).</FONT></TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 20pt; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify"><B>THE BOARD UNANIMOUSLY RECOMMENDS VOTING
&ldquo;AGAINST&rdquo; THE REPEAL PROPOSAL.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in; text-align: left">&#9679;</TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif"><U>Proposal
4</U>: To adjourn the Special Meeting to a later date or dates, if necessary or appropriate, to permit further solicitation and vote
of proxies if there are insufficient votes for, or otherwise in connection with, the approval of the matters to be considered at the
Special Meeting (the &ldquo;Adjournment Proposal&rdquo;).</FONT></TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 20pt; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify"><B>THE BOARD UNANIMOUSLY RECOMMENDS VOTING
&ldquo;AGAINST&rdquo; THE ADJOURNMENT PROPOSAL.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">&#9679;</TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif"><U>Proposal 5</U>:  To transact such other
business as may properly come before the Special Meeting (the &ldquo;Other Business Proposal&rdquo;).</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 20pt; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify"><B>THE BOARD UNANIMOUSLY RECOMMENDS VOTING
&ldquo;AGAINST&rdquo; THE OTHER BUSINESS PROPOSAL.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>The Board of Directors unanimously believes
that the adoption of the Proposals is NOT in the best interests of stockholders and <U>therefore encourages you NOT to attend the meeting
and NOT to submit any proxy card</U> with respect to the Special Meeting, as such actions will act as votes against the Removal Proposal,
the Board Vacancy Proposal and the Repeal Proposal. Alternatively<U>, if you decide to vote, the Board unanimously recommends that you
vote AGAINST each of the Proposals</U>. </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">All of the Proposals are more fully described
in the Statement accompanying this notice.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">This Notice of Special Meeting (this &ldquo;Notice&rdquo;)
and the accompanying Statement are first being mailed on or about &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;, 2022 to stockholders of record as of &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;, 2022 (the &ldquo;Record
Date&rdquo;). Only stockholders of record at the close of business on the Record Date may vote at the Special Meeting.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>You may receive proxy materials from the Dissident
Group with respect to the Special Meeting. We are not responsible for the accuracy of any information provided by or relating to the Dissident
Group contained in any proxy solicitation materials filed or disseminated by, or on behalf of, the Dissident Group or any other statements
that the Dissident Group may otherwise make. <U>We encourage you to ignore the proxy materials that you may receive from the Dissident
Group</U>.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>WE ENCOURAGE YOU TO READ THE COMPANY&rsquo;S
STATEMENT FOR THE SPECIAL MEETING IN ITS ENTIRETY AND <U>TO REJECT THE PROPOSALS SUBMITTED BY THE DISSIDENT GROUP BY NOT ATTENDING THE
SPECIAL MEETING OR BY VOTING AGAINST EACH OF THE PROPOSALS.</U></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">If you have any questions, please contact our
solicitor, Kingsdale Advisors, by phone toll-free at 1-866-581-1514, or call collect outside North America at 646-854-8013, or by email
at <I>contactus@kingsdaleadvisors.com</I>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 60%">&nbsp;</TD>
    <TD STYLE="width: 40%; text-align: justify; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">By Order of the Board of Directors</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify; font-size: 10pt">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; text-align: justify; font-size: 10pt">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Tiago Reis Marques</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Chief Executive Officer and Director</P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;, 2022</P></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: center; text-indent: -0.5in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: center; text-indent: -0.5in"><B><U>Table of
Contents</U></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 90%; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; width: 9%; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>Page Number</B></FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: justify"><A HREF="#a_001"><FONT STYLE="font-family: Times New Roman, Times, Serif">NOTICE OF SPECIAL MEETING OF STOCKHOLDERS</FONT></A></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">i<FONT STYLE="font-family: Times New Roman, Times, Serif"> </FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif"><A HREF="#a_014">INTRODUCTION</A> </FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif"> 1</FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: justify"><A HREF="#a_002"><FONT STYLE="font-family: Times New Roman, Times, Serif">INFORMATION ABOUT THE SPECIAL MEETING</FONT></A></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif"> 1</FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="text-align: justify"><A HREF="#a_003"><FONT STYLE="font-family: Times New Roman, Times, Serif">BACKGROUND TO THE SOLICITATION </FONT></A></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif"> </FONT>8</TD></TR>
  <TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: justify"><A HREF="#a_004"><FONT STYLE="font-family: Times New Roman, Times, Serif">PROPOSALS 1A THROUGH 1E: THE DIRECTOR REMOVAL PROPOSALS </FONT></A></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">10<FONT STYLE="font-family: Times New Roman, Times, Serif"> </FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="text-align: justify"><A HREF="#a_005"><FONT STYLE="font-family: Times New Roman, Times, Serif">PROPOSAL 2: THE BOARD VACANCY PROPOSAL </FONT></A></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif"> </FONT>13</TD></TR>
  <TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: justify"><A HREF="#a_006"><FONT STYLE="font-family: Times New Roman, Times, Serif">PROPOSAL 3: THE REPEAL PROPOSAL</FONT></A></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif"> </FONT>14</TD></TR>
  <TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="text-align: justify"><A HREF="#a_007"><FONT STYLE="font-family: Times New Roman, Times, Serif">SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT </FONT></A></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif"> </FONT>16</TD></TR>
  <TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: justify"><A HREF="#a_008"><FONT STYLE="font-family: Times New Roman, Times, Serif">STOCKHOLDER PROPOSALS FOR 2023 ANNUAL MEETING</FONT></A></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif"> </FONT>18</TD></TR>
  <TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="text-align: justify"><A HREF="#a_009"><FONT STYLE="font-family: Times New Roman, Times, Serif">OTHER MATTERS </FONT></A></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif"> </FONT>18</TD></TR>
  <TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: justify"><A HREF="#a_010"><FONT STYLE="font-family: Times New Roman, Times, Serif">EXPENSES OF SOLICITATION</FONT></A></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif"> </FONT>18</TD></TR>
  <TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="text-align: justify"><A HREF="#a_011"><FONT STYLE="font-family: Times New Roman, Times, Serif">HOUSEHOLDING OF PROXY MATERIALS </FONT></A></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">18<FONT STYLE="font-family: Times New Roman, Times, Serif"> </FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: justify"><A HREF="#a_012"><FONT STYLE="font-family: Times New Roman, Times, Serif">RIGHT OF APPRAISAL</FONT></A></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif"> </FONT>18</TD></TR>
  <TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="text-align: justify"><A HREF="#a_013"><FONT STYLE="font-family: Times New Roman, Times, Serif">APPENDIX A: ADDITIONAL INFORMATION REGARDING PARTICIPANTS IN THE SOLICITATION </FONT></A></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">A-1<FONT STYLE="font-family: Times New Roman, Times, Serif"> </FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>PRELIMINARY COPY SUBJECT TO COMPLETION DATED
OCTOBER 31, 2022</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&thinsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>PASITHEA THERAPEUTICS CORP.&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>SPECIAL MEETING OF STOCKHOLDERS TO BE HELD ON
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;, 2022</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&emsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>STATEMENT</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B><A NAME="a_014"></A>INTRODUCTION</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">This Statement (this &ldquo;Statement&rdquo;)
is being furnished to stockholders of Pasithea Therapeutics Corp, a Delaware corporation (&ldquo;Pasithea,&rdquo; the &ldquo;Company,&rdquo;
&ldquo;our,&rdquo; &ldquo;us,&rdquo; or &ldquo;we&rdquo;), by our Board of Directors (the &ldquo;Board&rdquo;) in connection with our
Special Meeting of Stockholders to be held &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;, 2022 (including any adjournment, postponement or rescheduling thereof, the &ldquo;Special
Meeting&rdquo;) at &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;. The Special Meeting will be held at &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Only stockholders of record as of the close of
business on &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;, 2022, the record date for determination of the stockholders entitled to vote at the Special Meeting (the &ldquo;Record
Date&rdquo;), will be entitled to vote at the Special Meeting.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B><A NAME="a_002"></A>INFORMATION ABOUT THE SPECIAL MEETING</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Why is the Company holding a Special Meeting
of Stockholders?</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Board has called this Special Meeting of the
Company&rsquo;s stockholders to vote on the following proposals submitted by Concord IP2 Ltd., Elderhill Corporation, Leonite Capital
LLC, Camac Partners, LLC, Camac Capital, LLC, Camac Fund, LP, David Delaney, Avi Geller And Eric Shahinian (collectively, the &ldquo;Dissident
Group&rdquo;).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><B>Proposal 1:</B> To remove, without
cause, all of the directors of the Company (and any other person who is elected, appointed or designated to fill a vacancy in the Board
seat held by such person at any time prior to the time that any of the actions proposed by this Statement become effective): Dr. Tiago
Reis Marques (&ldquo;Proposal 1A&rdquo;), Alfred Novak (&ldquo;Proposal 1B&rdquo;), Professor Lawrence Steinman (&ldquo;Proposal 1C&rdquo;),
Simon Dumesnil (&ldquo;Proposal 1D&rdquo;), and Dr. Emer Leahy (&ldquo;Proposal 1E&rdquo; and with Proposal 1A, Proposal 1B, Proposal,
1C and Proposal 1D, collectively &ldquo;Proposal 1&rdquo; or the &ldquo;Director Removal Proposals&rdquo;).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><B>Proposal 2:</B> To vote on a proposal
related to the filling of vacancies on the Board that arise as the result of the removal of one or more directors by stockholders (the
&ldquo;Board Vacancy Proposal&rdquo;).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><B>Proposal 3:</B> To repeal each provision
or amendment of Pasithea&rsquo;s bylaws adopted by the Board without the approval of Pasithea&rsquo;s stockholders after April 13, 2021
(the last date that the bylaws were publicly disclosed by Pasithea), and prior to the approval of this proposal (the &ldquo;Repeal Proposal&rdquo;).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><B>Proposal 4</B>: To adjourn the Special
Meeting to a later date or dates, if necessary or appropriate, to permit further solicitation and vote of proxies if there are insufficient
votes for, or otherwise in connection with, the approval of the matters to be considered at the Special Meeting (the &ldquo;Adjournment
Proposal&rdquo;).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><B>Proposal 5</B>: To transact such
other business as may properly come before the Special Meeting (the &ldquo;Other Business Proposal&rdquo;).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">The above proposals are collectively
referred to as the &ldquo;Proposals&rdquo;.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>How does the Board of Directors of the Company
recommend that you vote?</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Board unanimously believes that the adoption
of the Proposals is NOT in the best interests of stockholders and therefore <U>encourages you NOT to attend the meeting and do not submit
any proxy card with respect to the Special Meeting</U>, as such actions will act as votes against each the Removal Proposal, the Board
Vacancy Proposal and the Repeal Proposal. Alternatively, if you decide to vote, at the Special Meeting, <U>we unanimously recommend that
you vote <B>AGAINST </B>each of the Proposals submitted by the Dissident Group</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">Proposal 1A. &ldquo;AGAINST&rdquo; the removal, without cause, of Dr. Tiego Reis Marques as a director of Pasithea.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Proposal 1B. &ldquo;AGAINST&rdquo;
the removal, without cause, of Alfred Novak as a director of Pasithea.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">Proposal 1C. &ldquo;AGAINST&rdquo; the
removal, without cause, of Professor Lawrence Steinman as a director of Pasithea.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">Proposal 1D. &ldquo;AGAINST&rdquo; the
removal, without cause, of Simon Dumesnil as a director of Pasithea.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">Proposal 1E. &ldquo;AGAINST&rdquo; the
removal, without cause, of Dr. Emer Leahy as a director of Pasithea.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">Proposal 2. &ldquo;AGAINST&rdquo; the
proposal related to the filling of vacancies on the Board that arise as the result of the removal of one or more directors by stockholders.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">Proposal 3. &ldquo;AGAINST&rdquo; the
repeal of each provision or amendment of Pasithea&rsquo;s bylaws adopted by the Board without the approval of Pasithea&rsquo;s stockholders
after April 13, 2021 (the last date that the bylaws were publicly disclosed by Pasithea), and prior to the approval of this proposal.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">Proposal 4. &ldquo;AGAINST&rdquo; the
adjournment of the Special Meeting to a later date or dates, if necessary or appropriate, to permit further solicitation and vote of proxies
if there are insufficient votes for, or otherwise in connection with, the approval of the matters to be considered at the Special Meeting.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 20pt; text-align: justify; text-indent: 16pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 20pt; text-align: justify; text-indent: 16pt">Proposal 5. &ldquo;AGAINST&rdquo;
the transaction of such other business as may properly come before the Special Meeting.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>OUR BOARD OF DIRECTORS <U>ENCOURAGES YOU NOT
TO ATTEND THE MEETING AND NOT TO SUBMIT ANY PROXY CARD</U> WITH RESPECT TO THE SPECIAL MEETING, AS SUCH ACTIONS WILL ACT AS VOTES AGAINST
EACH THE REMOVAL PROPOSAL, THE BOARD VACANCY PROPOSAL AND THE REPEAL PROPOSAL. ALTERNATIVELY, <U>IF YOU DECIDE TO ATTEND THE SPECIAL MEETING,
OUR BOARD UNANIMOUSLY RECOMMENDS A VOTE AGAINST</U> EACH OF THE BOARD REMOVAL PROPOSAL, THE BOARD VACANCY PROPOSAL AND THE REPEAL PROPOSAL
AND <U>URGES YOU NOT TO SIGN OR RETURN OR VOTE ANY PROXY CARD SENT TO YOU BY THE DISSIDENT GROUP</U>.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>If you have voted using a proxy card sent to
you by the Dissident Group, you can revoke it by requesting a new proxy card from the Dissident Group and by signing, dating and returning
such new proxy card or by voting at the Special Meeting.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Why am I receiving these materials?</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">You are receiving this document because you were
one of our shareholders at the close of business on &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;, 2022, the record date for the Special Meeting. We are sending this
Statement to you to provide notice of the Special Meeting and to communicate the Board&rsquo;s opposition to the Proposals. We believe
the Proposals are not in the best interest of our shareholders and therefore are asking you not to return any proxy card or attend the
Special Meeting, as such actions will act as votes against each of the Board Removal Proposal, the Board Vacancy Proposal and the Repeal
Proposal.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">You may receive proxy materials from the Dissident
Group with respect to the Special Meeting. We are not responsible for the accuracy of any information provided by or relating to the Dissident
Group contained in any proxy solicitation materials filed or disseminated by, or on behalf of, the Dissident Group or any other statements
that the Dissident Group may otherwise make. We encourage you to ignore the proxy materials that you may receive from the Dissident Group
and ignore their proxy card and not vote at the Special Meeting.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Board unanimously believes that the adoption
of the Proposals is not in the best interests of stockholders and therefore encourages you not to attend the meeting and not submit any
proxy card with respect to the Special Meeting or if you decide to vote, that you vote AGAINST each of the Proposals.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>When and where will the Special Meeting be
held?</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Special Meeting will be held on &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;,
2022 at &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Eastern Time at &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B></B></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Who is the Dissident Group? How are they involved
in the Special Meeting?</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Concord IP2 Ltd., Elderhill Corporation, Leonite
Capital LLC, Camac Partners, LLC, Camac Capital, LLC, Camac Fund, LP, David Delaney, Avi Geller And Eric Shahinian (collectively, the
&ldquo;Dissident Group&rdquo;) has filed a preliminary proxy statement indicating that they intend to solicit proxies in connection with
the Special Meeting. You may receive proxy materials and other solicitation materials from the Dissident Group. The Company is not responsible
for the accuracy of any information contained in any proxy or solicitation materials filed or disseminated by, or on behalf of, the Dissident
Group, or any other statements that the Dissident Group may make. For further information regarding the Dissident Group, please refer
to the &ldquo;Background to the Solicitation&rdquo; section of this Statement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Board encourages you to read this Statement
in its entirety and not support the Dissident Group&rsquo;s Proposals. We unanimously believe that the Proposals are NOT in the best interest
of our shareholders and therefore encourage you NOT TO ATTEND the Special Meeting NOR TO VOTE, and if you decide to attend the Special
Meeting, to vote AGAINST the Board Removal Proposal, the Board Vacancy Proposal and the Repeal Proposal. If you have already submitted
a vote using a proxy card provided by, or on behalf, of the Dissident Group, you have the right to change your vote by voting again over
the Internet, by telephone or by completing and mailing the proxy card provided by the Dissident Group. Only the last-dated proxy you
submit will be counted.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>What should I do if I receive a proxy card
from the Dissident Group?</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">We expect that you will receive proxy solicitation
materials from the Dissident Group, including a Statement and proxy card. Our Board unanimously recommends that you disregard any Statement
and proxy card you may receive from the Dissident Group. We are not responsible for the accuracy of any information provided by or relating
to the Dissident Group contained in any proxy solicitation materials filed or disseminated by, or on behalf of, the Dissident Group or
any other statements that the Dissident Group may otherwise make. If you have already voted using the proxy card provided by the Dissident
Group, you have every right to change your vote and vote AGAINST each of the Proposals by executing and returning the enclosed another
proxy card or by voting by telephone or via the Internet by following the instructions provided by the Dissident Group. Only the latest
dated proxy you submit will be counted. If you have not returned a proxy card and wish to vote pursuant to the recommendation of the Board,
you should disregard any proxy card that you receive by the Dissident Group and not attend the Special Meeting as such actions will act
as votes against the Board Removal Proposal, the Board Vacancy Proposal and the Repeal Proposal. If you have any questions or need assistance,
please contact our solicitor, Kingsdale Advisors, by phone toll-free at 1-866-581-1514, or call collect outside North America at 646-854-8013,
or by email at <I>contactus@kingsdaleadvisors.com</I>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>What information is available on the Internet?</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">This Statement, our Annual Report on Form 10-K,
Quarterly Reports on Form 10-Q and other financial documents are available free of charge at the website of the Securities and Exchange
Commission (the &ldquo;SEC&rdquo;) at <I>www.sec.gov</I>. This Statement and our annual report to shareholders are also available at the
Investor Relations section of our corporate website, <I>www.pasithea.com</I>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Who pays for the Company&rsquo;s solicitation
of stockholders in connection with the Special Meeting?</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">We will pay for the entire cost of soliciting
on behalf of the Company in connection with the Special Meeting. We will also reimburse brokerage firms, banks and other agents for the
cost of forwarding the Company&rsquo;s materials to beneficial owners in connection with the Special Meeting. In addition, our directors
and employees may solicit on behalf of the Company in connection with the Special Meeting in person, by mail, by telephone, via the Internet,
press releases or advertisements. Directors and employees will not be paid any additional compensation for such solicitation, but Kingsdale
Advisors (&ldquo;Kingsdale Advisors&rdquo;), our solicitor, will be paid an estimated fee for rendering solicitation services of up to
$70,000 plus expenses. Kingsdale Advisors will solicit in connection with the Special Meeting by personal interview, mail, telephone,
facsimile or email. Kingsdale Advisors will also ask brokerage houses and other custodians and nominees whether other persons are beneficial
owners of our Common Stock.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">An independent inspector of election will receive
and tabulate the proxies and certify the results.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Who may attend the Special Meeting?</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Special Meeting is open to all of our shareholders.
To attend, you will need to register upon arrival. We may check for your name on our shareholders list and ask you to produce valid identification.
If your shares are held in street name by your broker or bank, you should bring your most recent brokerage account statement or other
evidence of your share ownership. If we cannot verify that you own Common Stock of the Company, it is possible that you will not be admitted
to the Special Meeting.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B></B></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Who will count the votes cast at the Special
Meeting?</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Board of Directors will appoint an independent
inspector of election to serve at the Special Meeting. The independent inspector of election for the Special Meeting will determine the
number of votes cast by holders of Common Stock on each item of business to be considered at the Special Meeting. Preliminary voting results
will be announced at the Special Meeting, if practicable, and final results will be announced when certified by the independent inspector
of election, which we expect will occur within a few business days after the date of the Special Meeting.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>How can I find the voting results of the Special
Meeting?</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">We will include the voting results in a Current
Report on Form 8-K, which we will file with the SEC no later than four business days following the completion of the Special Meeting.
We will amend this filing to include final results if the independent inspector of election has not certified the results when the original
Current Report on Form 8-K is filed.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>How many votes must be present to hold the
Special Meeting?</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">In order to lawfully conduct the Special Meeting,
at least one third of all of the issued and outstanding shares of Common Stock as of the Record Date must be present at the Special Meeting
either in person or by proxy. This is called a quorum. Your shares are counted as present at the Special Meeting if you attend the Special
Meeting and vote in person or if you properly return a proxy that is requested by a third party. Abstentions and &ldquo;broker non-votes&rdquo;
(as explained below under the question &ldquo;What is a &lsquo;broker non-vote&rsquo;?&rdquo;) will be counted for purposes of establishing
a quorum.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">If there is no quorum, the Special Meeting may
be adjourned by the holders of a majority of shares present at the Special Meeting in person or represented by proxy or by the chairperson
of the Special Meeting.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>How many votes do I have and can I cumulate
my votes?</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">You have one vote for every share of our Common
Stock that you own. Cumulative voting is not allowed.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>May I vote my shares in person at the Special
Meeting?</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Yes. You may vote your shares at the Special Meeting
if you attend in person, even if you previously submitted a proxy card or voted by Internet or telephone.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Board unanimously believes that the adoption
of the Proposals is not in the best interests of stockholders and therefore encourages you not to attend the meeting and do not submit
any proxy card with respect to the Special Meeting, as such actions will act as votes against the Removal Proposal, the Board Vacancy
Proposal and the Repeal Proposal. Alternatively, if you decide to vote, that you vote AGAINST each of the Proposals.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>How do I vote if my broker holds my shares
in &ldquo;street name&rdquo;?</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">If your shares are held in a brokerage account
in the name of your bank or broker (this is called &ldquo;street name&rdquo;), your bank or broker will send you a request for directions
for voting those shares. Many (but not all) brokerage firms and banks participate in a program provided through Broadridge Financial Solutions,
Inc. that offers Internet and telephone voting options.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>What is a &ldquo;broker non-vote&rdquo;?</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">If you own shares through a broker in street name,
you may instruct your broker how to vote your shares. A &ldquo;broker non-vote&rdquo; occurs when you fail to provide your broker with
voting instructions at least ten days before the Special Meeting and the broker does not have the discretionary authority to vote your
shares on a particular proposal because the proposal is not a &ldquo;routine&rdquo; matter under applicable rules. See &ldquo;How will
abstentions and broker non-votes be treated?&rdquo; and &ldquo;Will my shares held in street name be voted if I do not provide my proxy?&rdquo;
below.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>How will abstentions and broker non-votes be
treated?</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Abstentions and broker non-votes will be treated
as shares that are present and entitled to vote for purposes of determining whether a quorum is present, but will not be counted as votes
cast either in favor of or against a particular proposal.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Will my shares held in street name be voted
if I do not provide my proxy?</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">On certain &ldquo;routine&rdquo; matters, brokerage
firms have the discretionary authority to vote shares for which their customers do not provide voting instructions. None of the items
of business to be voted on at the Special Meeting are considered a routine matter, and, therefore, your shares will not be voted at the
Special Meeting unless you instruct your brokerage firm to vote in a timely manner.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>If I submit a proxy card provided by the Dissident
Group, how will it be voted?</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The individuals named on the proxy card of the
Dissident Group will vote your proxy in the manner you indicate on the proxy card.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B></B></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Can I change my mind and revoke my proxy?</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Yes. To revoke a proxy given pursuant to this
solicitation, you must:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in; text-align: left">&#9679;</TD><TD STYLE="text-align: justify">sign another proxy with a later date and return it as directed
by the person requesting the proxy card, at or before the Special Meeting;</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in; text-align: left">&#9679;</TD><TD STYLE="text-align: justify">provide the person requesting the proxy card with a written
notice of revocation dated later than the date of the proxy at or before the Special Meeting; or</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in; text-align: left">&#9679;</TD><TD STYLE="text-align: justify">attend the Special Meeting and vote in person&mdash;note
that attendance at the Special Meeting will not revoke a proxy if you do not actually vote at the Special Meeting.</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Because the Board unanimously believes that the
adoption of the Proposals is not in the best interests of stockholders, the Board encourages you not to attend the meeting and not submit
any proxy card with respect to the Special Meeting; or, if you decide to vote or submit a proxy card provided by the Dissident Group,
that you vote AGAINST each of the Proposals.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>What vote is required to approve the Director
Removal Proposal?</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The affirmative vote of the holders of a majority
of the shares of Common Stock entitled to vote is required for the removal of one or more directors. Abstentions, broker nonvotes and
not voting your shares will be treated as votes &ldquo;AGAINST&rdquo; the Director Removal Proposals.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>What vote is required to approve the Board
Vacancy Proposal?</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Under the Company&rsquo;s Amended and Restated
Certificate of Incorporation (the &ldquo;Certificate of Incorporation&rdquo;), any vacancies on the Board that occur for any reason are
to be filled exclusively by the Board, acting by the affirmative vote of a majority of the remaining directors then in office, even if
less than a quorum, or by a sole remaining director, and cannot be filled by stockholders. Consequently, while stockholders may vote on
the Board Vacancy Proposal, it will not prevent the remaining Board members from filling such vacancies.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>What vote is required to approve the Repeal
Proposal</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Repeal Proposal requires the affirmative vote
of the holders of a majority of the voting power of the issued and outstanding shares of Company Common Stock to repeal certain provisions
of the Company&rsquo;s Bylaws. Abstentions, broker nonvotes and not voting your shares will be treated as votes &ldquo;AGAINST&rdquo;
the Repeal Proposal. There have been no changes to the Company&rsquo;s Bylaws that would be impacted by the Repeal Proposal.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>What vote is required to approve the Adjournment
Proposal?</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The Adjournment Proposal will be approved if approved
by the holders of a majority of votes cast at the Special Meeting (assuming there is a quorum). Abstentions and broker non-votes will
have no effect on the vote on such proposal.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>What happens if some or all of the directors
of the Company are removed by the Director Removal Proposals?</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Company&rsquo;s Certificate of Incorporation
requires that any vacancies on the Board are to be filled exclusively by the Board, acting by the affirmative vote of a majority of the
remaining directors then in office, even if less than a quorum, or by a sole remaining director, and cannot be filled by stockholders.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">If all of the directors are removed, then under
Section 223 of the General Corporation Law of the State of Delaware (the &ldquo;DGCL&rdquo;), any officer or any stockholder or an executor,
administrator, trustee or guardian of a stockholder, or other fiduciary entrusted with like responsibility for the person or estate of
a stockholder, may call a special meeting of stockholders in accordance with the Certificate of Incorporation or the bylaws to elect directors
or may apply to the Delaware Court of Chancery for a decree summarily ordering a director election</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">If less than all of the directors are removed,
under the Articles of Incorporation of the Company, the Board may fill the vacancies created by such removal. However, under Section 223
of the DGCL, if, at the time of filling any director vacancy, the Pasithea directors then in office constitute less than a majority of
the total Board seats, then the Delaware Court of Chancery may, upon application of any stockholder or stockholders holding at least 10
percent of the shares of Common Stock, summarily order an election to be held to fill any such vacancies or to replace the directors chosen
by the directors then in office.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>What are the consequences if the Director Removal
Proposals are not approved?</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">If the Director Removal Proposals are not approved
at the Special Meeting, then all of the Company&rsquo;s Directors will remain in office until the 2023 Annual Meeting of Stockholders
(the &ldquo;2023 Annual Shareholders Meeting&rdquo;).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>How do you recommend that I vote on these items?</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">If you decide to attend the Special Meeting or
otherwise vote on the Proposals, the Board unanimously recommends that you vote AGAINST each of the Proposals submitted by the Dissident
Group. Alternatively, the Board recommends that you do not attend the Special Meeting or submit a proxy card as such actions will act
as votes against each of the Removal Proposal, the Board Vacancy Proposal and the Repeal Proposal.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>What should I do if I receive a proxy card
from the Dissident Group?</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">We expect that you will receive proxy solicitation
materials from the Dissident Group, including a proxy statement and proxy card. Our Board unanimously recommends that you disregard any
proxy statement and proxy card you may receive from the Dissident Group. We are not responsible for the accuracy of any information provided
by or relating to the Dissident Group contained in any proxy solicitation materials filed or disseminated by, or on behalf of, the Dissident
Group or any other statements that the Dissident Group may otherwise make. If you have already voted using the proxy card provided by
the Dissident Group, you have every right to change your vote by executing and returning another proxy card as directed by the Dissident
Group or by voting at the Special Meeting. If you have not returned a proxy card and you wish for the Proposals NOT to be approved, you
should disregard any proxy card that you receive and not attend the Special Meeting. If you have any questions or need assistance voting,
please contact our solicitor, Kingsdale Advisors, by phone toll-free at 1-866-581-1514, or call collect outside North America at 646-854-8013,
or by email at <I>contactus@kingsdaleadvisors.com</I>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>May other matters be raised at the Special
Meeting; how will the meeting be conducted?</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">No. Pursuant to the Bylaws, any business transacted
at any special meeting of stockholders will be limited to the purposes stated in the notice of the meeting.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Chairman, or his designee, has broad authority
to conduct the Special Meeting so that the business of the meeting is carried out in an orderly and timely manner. In doing so, the Chairman,
or his designee, has broad discretion to establish reasonable rules for discussion, comments and questions during the meeting. The Chairman,
or his designee, is also entitled to rely upon applicable law regarding disruptions or disorderly conduct to ensure that the Special Meeting
proceeds in a manner that is fair to all participants.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Who is entitled to vote?</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Record Date for the Special Meeting is the
close of business on &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;, 2022. As of the Record Date, &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; shares of Common Stock were outstanding. Only holders of record of
our Common Stock as of the Record Date will be entitled to notice of, and to vote at, the Special Meeting.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>How many votes do I have?</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">For all of the Proposals on the agenda for the
Special Meeting, you have one vote for each share of our Common Stock you owned as of the Record Date.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>How do I vote?</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><I>Stockholder of Record: Shares Registered in
Your Name</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><BR>
If you are a stockholder of record, you may vote in person at the Special Meeting. You may still attend the Special Meeting and vote during
the meeting even if you have already voted by proxy pursuant to the proxy provided by the Dissident Group.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><I>Beneficial Owner: Shares Registered in the
Name of Broker or Bank</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">If you are a beneficial owner of shares registered
in the name of your broker, bank or other agent, you should have received voting instructions from that broker, bank or other agent. To
attend the Special Meeting, you must obtain a valid legal proxy from your broker, bank or other agent and register in advance. Follow
the instructions from your broker or bank that are included with this Statement, or contact your broker or bank to request a proxy form.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>If I submitted a proxy card sent to me by the
Dissident Group, can I still attend the Special Meeting?</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Yes. Returning a proxy card provided by the Dissident
Group does not affect your right to attend and cast a new vote at the Special Meeting should you so choose.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Will a stockholder list be available for inspection?</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">A list of stockholders entitled to vote at the
Special Meeting will be available for inspection by stockholders for any purpose germane to the Special Meeting for 10 business days prior
to the Special Meeting at the offices of the Company at 1111 Lincoln Road, Miami Beach, Florida 33139, between the hours of 9:00 a.m.
and 5:00 p.m. Eastern Time. The stockholder list will also be available to stockholders of record for examination during the Special Meeting.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Whom can I contact for further information?</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">If you have any questions, please contact:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><IMG SRC="image_001.jpg" ALT=""></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Strategic Shareholder Advisor and Proxy Solicitation
Agent<BR>
</B>745 Fifth Avenue, 5<FONT STYLE="font-size: 10pt"><SUP>th</SUP></FONT>&nbsp;Floor, New&nbsp;York, NY&nbsp;10151<BR>
North American Toll Free Phone:<BR>
<B>1-866-581-1514<BR>
</B>Email: contactus@kingsdaleadvisors.com<BR>
Call Collect Outside North America:&nbsp;646-854-8013</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B><A NAME="a_003"></A>BACKGROUND TO THE SOLICITATION</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><B></B>Pasithea
is a biotechnology company focused on the discovery, research and development of innovative treatments for central nervous system (CNS)
disorders The Company was incorporated in the State of Delaware on May 12, 2020 as a startup biotech company with limited operations.
In September 2021, the Company completed its initial public offering to increase its capitalization and financial flexibility, to create
a public market for its Common Stock and to facilitate its future access to the capital markets. The upsized public offering and subsequent
follow-on financing priced at a premium to the market reflect a broad mandate from stockholders to execute on the Company&rsquo;s mission
and a clear conviction in the Company&rsquo;s management and Board of Directors. At the time, the Company stated to investors &ldquo;We
have no products or services approved for commercial sale and have not generated any material revenue from product sales.&rdquo;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 0pt">On May 13, 2022, the Company
filed with the SEC definitive proxy materials (the &ldquo;Company Statement&rdquo;) of the Board for the Annual Meeting of Shareholders
(the &ldquo;2022 Annual Meeting&rdquo;) that was held on June 23, 2022.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 0pt">On June 1, 2022 the Dissident
Group filed an initial Schedule 13D (the &ldquo;Initial 13D&rdquo;) with the SEC reporting the creation of a group and open market purchases
resulting in the Dissident Group&rsquo;s beneficial ownership of approximately 5.8% of the shares of the outstanding Common Stock. The
Initial 13D included a letter to the Board advising it to take no action to amend the bylaws, halt any major capital allocation decisions
and refrain from initiating or modifying employment contracts of any personnel or board member.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 0pt">On June 8, 2022, the Company&rsquo;s
Chief Executive Officer, Dr. Tiago Reis Marques, met with the Dissident Group and listened to its concerns regarding the Company.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 0pt">On June 16, 2022, the Dissident
Group amended the Initial 13D to report ownership of approximately 6.8% of the outstanding Common Stock, calculated using the number of
Common Stock outstanding as of May 9, 2022.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 0pt">On June 17, 2022, Dr. Marques
again met with the Dissident Group to listen and discuss the Dissident Group&rsquo;s concerns regarding the Company.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 0pt">On June 22, 2022, after months
of negotiations that began prior to the Dissident Group&rsquo;s Initial 13D, the Company announced that it had acquired (the &ldquo;Alpha
Acquisition&rdquo;) Alpha-5 Integrin, LLC (the &ldquo;Alpha-5&rdquo;), a company in which Lawrence Steinman, the Executive Chairman and
Co-Founder of Pasithea held a minority interest.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 0pt">On June 23, 2022, the Dissident
Group issued a press release expressing concerns regarding the Alpha Acquisition and stating that the Dissident Group intended to withhold
its votes for the election of the sitting directors of the Company at the 2022 Annual Meeting.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 0pt">On June 23, 2022, the Company
held its 2022 Annual Meeting of stockholders where each of the Company&rsquo;s directors was re-elected by a majority of votes present
at the meeting.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 0pt">On June 27, 2022, the Dissident
Group filed a second amendment to its Schedule 13D to report ownership of approximately 9.3% of the outstanding Common Stock.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 0pt">On July 1, 2022, the Dissident
Group filed its preliminary Statement in which it solicited stockholders&rsquo; written consents to call a special meeting of stockholders
of the Company to vote on the following proposals: (i) to remove all directors of the Company, (ii) to vote on a proposal related to filling
the vacancies on the Board after removal, and (iii) to repeal all amendments to the Company&rsquo;s bylaws adopted by the Board without
approval of the Company&rsquo;s stockholders after April 13, 2021 (collectively, the &ldquo;Proposals&rdquo;).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 0pt">On July 14, 2022, the Dissident
Group filed a definitive Statement with the SEC regarding solicitation of consents to call a special meeting of stockholders.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 0pt">Between June 27, 2022 and
September 2, 2022, the Dissident Group acquired additional Common Stock so that its aggregate ownership of Common Stock was approximately
11.7% of the outstanding shares of Common Stock.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 0pt">On September 2, 2022, the
Dissident Group delivered notice to the Company (the &ldquo;Camac Notice&rdquo;) to call a special meeting of stockholders of the Issuer,
claiming that such action had the consent of the holders of at least 25% of all shares of Common Stock entitled to vote at the proposed
special meeting and on September 6, 2022, the Dissident Group filed Amendment No 6 to its Schedule 13D disclosing the Camac Notice.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 0pt">On September 7, 2022, representatives
of the Company sent a letter to the Dissident Group stating that the information provided by the Dissident Group did not appear to demonstrate
that the Dissident Group obtained the requisite number of consents to request a special meeting, as certain investors votes included in
the vote count were held only after the record date and therefore the Dissident Group was not sufficient under the Company&rsquo;s bylaws.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 0pt">On September 13, 2022, representatives
of the Dissident Group provided additional information to representatives of the Company regarding their calculation of the vote and sent
an email on September 15, 2022. Representatives of the Dissident Group and the Company had telephone conversations the week of September
15, 2022 to discuss the discrepancy in vote count.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 0pt">On September 20, 2022, representatives
of the Company sent a letter to representatives of the Dissident Group reasserting the Company&rsquo;s position that the Dissident Group
had not satisfied the requirements to call a special meeting of Company stockholders noting that &ldquo;the requirement that sufficient
documentation be included with the submitted request is found in Pasithea&rsquo;s By-Laws, and, accordingly, cannot simply be waived or
otherwise ignored because the Investor Group later uncovers documentation that it asserts demonstrates that such registered positions
were held on the relevant record date or &lsquo;believes that it is in everyone&rsquo;s interest to proceed with the calling [sic] the
meeting.&rsquo;&rdquo;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 0pt">On September 26, 2022, representatives
of the Company sent a letter to representatives of the Dissident Group stating that the documentation submitted with the Dissident Group&rsquo;s
request to call a special meeting did not demonstrate that the Dissident Group had obtained the necessary number of consents to call a
special meeting as required by Section 3.2 of Pasithea&rsquo;s corporate by-laws. Specifically, the statements submitted with respect
to Camac Fund LP, Concord IP2 LTD, Funicular Funds LP, and Leonite Fund I, LP all purported to reflect holdings in Common Stock on dates
prior to the September 15, 2022 record date, but not as of the record date.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 0pt">After additional information
was provided by the Dissident Group to rectify the deficiencies of the Camac Notice, the Company announced that the Dissident Group satisfied
the necessary requirements to call a special meeting of Stockholders and that it would call a special meeting in accordance with the Company&rsquo;s
bylaws.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 0pt">On October 11, 2022, the Company
acquired AlloMek Therapeutics, LLC for a purchase price consisting of (i) an aggregate of 2,700,000 shares of Common Stock, (ii) an aggregate
of 1,000,000 warrants to purchase shares of Common Stock at an exercise price of $1.88 per share, which may be exercised on a cashless
basis until October 10, 2027, (iii) a cash payment of $1,050,000, (iv) the right to certain milestone payments in an amount up to $5,000,000,
and (v) the right to contingent earn-out payments ranging from 3% to 5% of net sales of the drug CIP-137401, depending on the amount of
such net sales in the applicable measurement period. AlloMek Therapeutics, LLC is a biotechnology company developing CIP-137401, which
is a potential best-in-class macrocyclic mitogen-activated protein kinase kinase 1/2 (MEK) inhibitor for use in a range of CNS-related
indications, including neurofibromatosis type 1 (NF1) and Noonan syndrome, as well as potential synergy with the Company&rsquo;s existing
multiple sclerosis (MS) development program.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B><A NAME="a_004"></A>PROPOSALS 1A THROUGH 1E</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>THE DIRECTOR REMOVAL PROPOSALS</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Dissident Group has indicated that it intends
to submit the below proposals for approval of stockholders at the Special Meeting. <B>The Board unanimously recommends that you vote
AGAINST each of these proposals. </B>The proposals are as follows:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">&#9679;</TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif"><U>Proposal 1A</U>: To remove, without cause,
Dr. Tiago Reis Marques as a director of Pasithea (and any other person who is elected, appointed or designated to fill a vacancy in the
Board seat held by such person at any time prior to the time that any of the actions proposed by this Statement become effective).</FONT></TD></TR><TR STYLE="vertical-align: top">
<TD>&nbsp;</TD><TD>&nbsp;</TD><TD STYLE="text-align: justify">&nbsp;</TD></TR>
                                                                                                                                                   </TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">&#9679;</TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif"><U>Proposal 1B</U>: To remove, without cause,
Alfred Novak as a director of Pasithea (and any other person who is elected, appointed or designated to fill a vacancy in the Board seat
held by such person at any time prior to the time that any of the actions proposed by this Statement become effective).</FONT></TD></TR><TR STYLE="vertical-align: top">
<TD>&nbsp;</TD><TD>&nbsp;</TD><TD STYLE="text-align: justify">&nbsp;</TD></TR>
                                                                                                                                        </TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">&#9679;</TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif"><U>Proposal 1C</U>:  To remove, without cause,
Professor Lawrence Steinman as a director of Pasithea (and any other person who is elected, appointed or designated to fill a vacancy
in the Board seat held by such person at any time prior to the time that any of the actions proposed by this Statement become effective).</FONT></TD></TR><TR STYLE="vertical-align: top">
<TD>&nbsp;</TD><TD>&nbsp;</TD><TD STYLE="text-align: justify">&nbsp;</TD></TR>
                                                                                                                                                          </TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">&#9679;</TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif"><U>Proposal 1D</U>: To remove, without cause,
Simon Dumesnil as a director of Pasithea (and any other person who is elected, appointed or designated to fill a vacancy in the Board
seat held by such person at any time prior to the time that any of the actions proposed by this Statement become effective).</FONT></TD></TR><TR STYLE="vertical-align: top">
<TD>&nbsp;</TD><TD>&nbsp;</TD><TD STYLE="text-align: justify">&nbsp;</TD></TR>
                                                                                                                                             </TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">&#9679;</TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif"><U>Proposal 1E</U>: To remove, without cause,
Dr. Emer Leahy as a director of Pasithea (and any other person who is elected, appointed or designated to fill a vacancy in the Board
seat held by such person at any time prior to the time that any of the actions proposed by this Statement become effective).</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 20pt; text-align: justify">&nbsp;</P>

<P STYLE="text-indent: 0pt; font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify">Proposal 1A, Proposal 1B, Proposal 1C,
Proposal 1D and Proposal 1E are collectively referred to herein as the &ldquo;Director Removal Proposals&rdquo;.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 20pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>The Board unanimously recommends a vote AGAINST
each of the Director Removal Proposals. Alternatively, the Board unanimously recommends that you do not attend the Special Meeting or
submit a proxy card as such actions will act as votes AGAINST each of the Director Removal Proposals.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 0pt">The Board unanimously believes
the removal of directors of Pasithea without cause is not in the best interests of the shareholders of the Company. We believe that the
Dissident Group has called the Special Meeting solely to further own its owinterests. The Board questions the Dissident Group&rsquo;s
timing and motives in demanding a special meeting when it has the opportunity to nominate directors in a timely fashion at the 2023 Annual
Meeting <U>and</U> had the opportunity to voice its objections to the Company&rsquo;s directors prior to their election at the 2022 Annual
Meeting (at which each of the directors was soundly elected). Instead, it appears that the Dissident Group wants to cause as much disruption
as possible and force the Company to incur undue expense by having a special meeting. The Dissident Group&rsquo;s actions are burdensome
to the Company and are diverting corporate resources to matters that can be resolved at the 2023 Annual Meeting, all at the at the expense
of the other stockholders of the Company. The Dissident Group has stated that it intends to seek reimbursement from Pasithea of its own
solicitation costs without seeking shareholder approval for such reimbursement if its solicitation is successful. It is probable that
the Dissident Group will also demand money from the Company, which appears to be its primary motive for calling a Special Meeting.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 0pt"><B>Directors Were Recently
Elected by Majority Vote. </B>The Dissident Group has not communicated any compelling reason why the current directors should be removed
without cause, let alone at a special meeting, when the Company&rsquo;s directors were approved by a majority of votes present at the
2022 Annual Meeting only four months ago. Prior to that meeting, the Dissident Group actively campaigned against the nominated directors
and yet the directors were reelected by an overwhelming majority of votes cast by all other stockholders). The Dissident Group&rsquo;s
proposed directors to replace the current Board have little actual experience overseeing public companies and no experience in the biotech
industry. While the Dissident Group credulously suggests its inexperienced nominees can successfully run Pasithea, your highly qualified
Board strongly believes the Dissident Group&rsquo;s sole objective is to co-opt Pasithea&rsquo;s cash and resources for its own purposes
and steal significant potential upside from all stockholders.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 0pt">This is not the first time
that members of the Dissident Group have participated in a solicitation of shareholders aimed at replacing all of the board of directors
of a corporation. In October 2019, Camac LP and Eric Shahinian initiated a proxy contest against Liberated Syndication Inc. (&ldquo;Liberated
Syndication&rdquo;) seeking to replace the entire board of directors of Liberated Syndication. As part of a settlement with Liberated
Syndication, Camac LP extracted a payment from Liberated Syndication of up to $600,000 for their expenses and Eric Shahinian joined the
board of directors. During Mr. Shahinian&rsquo;s tenure as a director of Liberated Syndication, Liberated Syndication was required to
restate its financial statements and the SEC deemed it necessary for the protection of investors that a public administrative proceeding
be instituted against Liberated Syndication for failure to file any periodic reports since the period ended September 30, 2020, and its
registration with the SEC was revoked. The Dissident Group has stated that it intends to seek reimbursement from Pasithea of its own solicitation
costs without seeking shareholder approval for such reimbursement if its consent solicitation is successful. Pasithea strongly believes
that it is in the best interests of Pasithea stockholders to reject the Dissident Group&rsquo;s solicitation as it is costly and distracting
and only benefits the Dissident Group.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 0pt">If the Director Removal Proposals
are approved by stockholders, all of our directors would cease to be directors immediately, and it would likely take months to replace
them, which would put our Company in a precarious position. Our Company would have no directors to oversee business operations and would
be required to engage in a costly and time-consuming process for identifying and appointing new directors. In its proxy statement filed
with the SEC, the Dissident Group mentions that it can file a request to the Delaware Court of Chancery to compel another special meeting
to elect directors, which would be costly and time-consuming for the Company. Moreover, such special meeting to elect new directors would
likely occur only months prior to the 2023 Annual Meeting. The Dissident Group has not explained why it believes that it is in the best
interests of shareholders for the Company to incur the expense of these special meetings when the Dissident Group has the opportunity
to nominate directors at the 2023 Annual Shareholders. The timing of the Dissident Group&rsquo;s actions suggests that its actions are
not for the interests of all shareholders but instead are serving only the interests of the Dissident Group--to cause as much disruption
as possible to attempt to coerce the Company into a monetary settlement for the benefit of the Dissident Group at the expense of the other
stockholders of the Company</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 0pt"><B>The Dissident Group has
not identified any specific plan for Pasithea and only talks in generalities.</B> The Dissident Group&rsquo;s only real plan is to run
a strategic review to consider selling, closing or liquidating all or parts of the Company and returning cash to stockholders or combinations
with or acquisitions of other yet unidentified companies. The Company wants stockholders to understand that turning the Company over to
the Dissident Group comes with significant risks, including:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">&#9679;</TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">The Company is likely to be run for the sole
benefit of the Dissident Group; </FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">&#9679;</TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">Stockholders will have no say in the future of
the Company as Dissident would control the Board;</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">&#9679;</TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">Liquidating the Company is not likely to earn
stockholders a substantial return; </FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">&#9679;</TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">Liquidating the Company sacrifices significant
potential future upside; and</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">&#9679;</TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">The Dissident Group may use Pasithea&rsquo;s
assets to acquire other companies, including non-biotechnology companies or companies in which the Dissident Group has an ownership interest.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 0pt"><B>Pasithea Is Implementing
a Plan and the Dissident Group&rsquo;s Actions Threaten That Plan. </B>Despite the Dissident Group&rsquo;s assertions to the contrary,
the Company has made significant progress developing novel and groundbreaking therapies and positioning Pasithea for significant potential
upside, by:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">&#9679;</TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">Expanding and diversifying our portfolio by acquiring
a world-class asset that targets the Alpha 5 Beta 1 integrin and a best-in-class macrocyclic mitogen-activated protein kinase 1/2 (MEK)
inhibitor; </FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">&#9679;</TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">Strengthening our team of scientists with the
addition of senior team members who have a record of success in achieving drug approvals and progressing through commercialization;</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">&#9679;</TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">Achieving positive preclinical results for our
drug candidates while further developing our internal lab capabilities;</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">&#9679;</TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">Improving our cash position through a private
placement and a drug development research grant; and</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">&#9679;</TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">Enhancing our Board by adding financial acumen
and innovative life science experience.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 0pt">Pasithea was only formed two
years ago and became a public company one year ago. Pasithea maintains constructive, ongoing communications with all of its shareholders
and welcomes and values their input. The Dissident Group&rsquo;s request for a special meeting of stockholders less than one month after
Pasithea&rsquo;s 2022 Annual Meeting has consumed significant time and resources of management and has caused and continues to cause the
Company to incur unnecessary expense. The actions of the Dissident Group divert resources of the Company at a time when the Company is
in the early stages of being a public company and should be devoting resources to the growth of its business.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 0pt">We unanimously believe that
your interests will be served best if your current Board and management continue to pursue the Company&rsquo;s growth strategy and business
plan to promote shareholder value.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 0pt">For a Director Removal Proposals
to be approved, the affirmative vote of the holders of a majority of the shares of Common Stock entitled to vote is required. Any withhold
vote will be counted as a vote against a Director Removal Proposals. Alternatively, if you do not attend the Special Meeting or submit
a proxy card, such actions will act as a vote AGAINST the Director Removal Proposals.</P>

<P STYLE="text-indent: 0pt; font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="text-indent: 0pt; font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><B>Board Recommendation</B></P>

<P STYLE="text-indent: 0pt; font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>THE BOARD&nbsp;UNANIMOUSLY RECOMMENDS THAT
YOU <U>VOTE AGAINST EACH OF THE DIRECTOR REMOVAL PROPOSALS</U>. ALTERNATIVELY, THE BOARD UNANIMOUSLY <U>RECOMMENDS THAT YOU DO NOT ATTEND
THE SPECIAL MEETING OR SUBMIT A PROXY CARD</U> AS SUCH ACTIONS WILL ACT AS VOTES AGAINST THE DIRECTOR REMOVAL PROPOSALS.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B></B></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B><A NAME="a_005"></A>PROPOSAL 2</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>THE DIRECTOR VACANCY PROPOSAL</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">The Dissident Group has indicated that it intends
to submit the following proposal for approval of stockholders at the Special Meeting:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: left">&nbsp;</P>

<P STYLE="text-indent: 0pt; font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify">RESOLVED, that the stockholders of Pasithea
urge, in the strongest possible manner, the Board to take all necessary steps to allow stockholders to fill any vacancies on the Board
created by the removal of one or more directors (including, if necessary or appropriate, holding a special meeting of stockholders for
the purpose of allowing stockholders to vote to fill such vacancies).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Company&rsquo;s Amended and Restated Certificate
of Incorporation provides that any vacancies on the Board for any reason, including from the death, resignation, disqualification or removal
of any director, and any newly created directorships resulting by reason of any increase in the number of directors shall be filled exclusively
by the Board, acting by the affirmative vote of a majority of the remaining directors then in office, even if less than a quorum, or by
a sole remaining director, and shall not be filled by stockholders. We believe that it is appropriate for the remaining directors to fill
any vacancies on the Board as it allows for more continuity of management and for the addition of directors who meet specific needs of
our Board as understood by the other members of our Board of Directors. Additionally, with our Board being solely responsible for filling
vacancies on our Board, we will not have to incur the time and expense of holding a special shareholder meeting to elect a director to
fill a vacancy on our Board.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Under the Company&rsquo;s Amended and Restated
Certificate of Incorporation (the &ldquo;Certificate of Incorporation&rdquo;), any vacancies on the Board that occur for any reason are
to be filled exclusively by the Board, acting by the affirmative vote of a majority of the remaining directors then in office, even if
less than a quorum, or by a sole remaining director, and cannot be filled by stockholders. Consequently, while stockholders may vote on
the Board Vacancy Proposal, it will not prevent the remaining Board members from filling such vacancies.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Board Recommendation</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>THE BOARD&nbsp;UNANIMOUSLY RECOMMENDS THAT
YOU VOTE AGAINST THE PROPOSAL 2. ALTERNATIVELY, THE BOARD RECOMMENDS THAT YOU DO NOT ATTEND THE SPECIAL MEETING OR SUBMIT A PROXY CARD
AS SUCH ACTIONS WILL ACT AS VOTES AGAINST THE DIRECTOR VACANCY PROPOSAL.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B><A NAME="a_006"></A>PROPOSAL 3 </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>THE REPEAL PROPOSAL </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Dissident Group has indicated that it intends
to submit the following proposal for approval of stockholders at the Special Meeting:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><U>Proposal 3</U>: To repeal each
provision or amendment of Pasithea&rsquo;s bylaws adopted by the Board without the approval of Pasithea&rsquo;s stockholders after April
13, 2021 (the last date that the bylaws were publicly disclosed by Pasithea), and prior to the approval of this proposal (the &ldquo;Repeal
Proposal&rdquo;).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">No provisions or amendments to our Bylaws have been
adopted after April 13, 2021. Although our Board does not currently expect to adopt any additional amendments to our Bylaws, our Board
could determine that an additional amendment is necessary and in the best interests of our Company and stockholders. Our Board believes
that the automatic repeal of any amendment to our Bylaws, irrespective of its content, duly adopted by our Board (whether with or without
stockholder approval) could have the effect of repealing one or more properly adopted bylaw amendments that our Board determined to be
in the best interests of our Company and our stockholders and adopted in furtherance of its fiduciary duties, including in response to
future events not yet known to our Company. Furthermore, as a public company subject to the federal proxy rules, it might be impracticable&mdash;if
not impossible&mdash;for our Company to obtain stockholder approval for a necessary bylaw amendment within a timeframe appropriate to
serve the best interests of our Company and our stockholders.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">As our Board is fully empowered by its governing
documents and applicable law to alter, amend, or repeal provisions of our Bylaws in accordance with its fiduciary duties, we believe that
this proposal serves no purpose other than limiting actions by our Board that are otherwise permitted by our Company&rsquo;s governing
documents and Delaware law.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">For a Repeal Proposal to be approved for certain
bylaw provisions, the affirmative vote of the holders of a majority of the shares of Common Stock entitled to vote is required. Any withhold
vote will be counted as a vote against the Repeal Proposal. Alternatively, if you do not attend the Special Meeting or submit a proxy
card, such actions will act as a vote AGAINST the Repeal Proposal.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"><B>Board Recommendation</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>THE BOARD UNANIMOUSLY RECOMMENDS A VOTE &ldquo;AGAINST&rdquo;
PROPOSAL 3. ALTERNATIVELY, THE BOARD UNANIMOUSLY RECOMMENDS THAT YOU DO NOT ATTEND THE SPECIAL MEETING OR SUBMIT A PROXY CARD AS SUCH
ACTIONS WILL ACT AS VOTES AGAINST THE REPEAL PROPOSAL.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"><B>&nbsp;</B></P>




<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>PROPOSAL 4</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>TO ADJOURN THE SPECIAL MEETING TO A LATER DATE
OR DATES, IF NECESSARY OR APPROPRIATE, TO PERMIT FURTHER SOLICITATION AND VOTE OF PROXIES IF THERE ARE INSUFFICIENT VOTES FOR, OR OTHERWISE
IN CONNECTION WITH, THE APPROVAL OF THE MATTERS TO BE CONSIDERED AT THE SPECIAL MEETING.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 0pt">The Dissident Group has also
submitted a proposal&nbsp;to&nbsp;adjourn&nbsp;the&nbsp;Special&nbsp;Meeting&nbsp;to a later date or dates if necessary or appropriate,
to permit further solicitation and vote of proxies if there are insufficient votes for, or otherwise in connection with, the approval
of the matters to be considered at the Special Meeting. The Board believes that if stockholders do not submit their votes or attend the
Special Meeting, an adjournment is not appropriate for the Special Meeting to be adjourned for a later date.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"><B>Board Recommendation</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"><B>THE BOARD UNANIMOUSLY RECOMMENDS VOTING &ldquo;AGAINST&rdquo;
THIS PROPOSAL.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"><B>&nbsp;</B></P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B><A NAME="a_007"></A>SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS
AND MANAGEMENT</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Under applicable rules and regulations of the
SEC, members of our Board and certain officers of the Company are &ldquo;participants&rdquo; with respect to the Company&rsquo;s solicitation
of proxies in connection with the Special Meeting. The following sets forth certain information about such persons (the &ldquo;Participants&rdquo;).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The following table sets forth certain information
about the persons who have been directors or executive officers as of October 25, 2022.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: Black 1.5pt solid; width: 49%; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>Name</B></FONT></TD>
    <TD STYLE="padding-bottom: 1.5pt; white-space: nowrap; width: 2%; text-align: justify">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; width: 49%; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>Position</B></FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">Dr.
    Tiago Reis Marques</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">Chief
    Executive Officer and Director</FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">Daniel
    Schneiderman</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">Chief
    Financial Officer</FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">Dr.
    Yassine Bendiabdallah</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">Chief
    Operating Officer, Head of U.K. Clinics and Director</FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">Prof.
    Lawrence Steinman</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">Executive
    Chairman and Co-Founder</FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">Simon
    Dumesnil</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">Director</FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">Dr.
    Emer Leahy</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">Director</FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">Alfred
    Novak</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">Director</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The following table sets forth information with
respect to the beneficial ownership of our Common Stock as of&nbsp;October 25, 2022 by:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in; text-align: left">&#9679;</TD><TD STYLE="text-align: justify">each person, or group of affiliated persons, known by us
to beneficially own more than 5% of our outstanding shares of Common Stock (other than named executive officers and directors);</TD>
</TR><TR STYLE="vertical-align: top; text-align: justify">
<TD>&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: justify">&nbsp;</TD></TR>
     </TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in; text-align: left">&#9679;</TD><TD STYLE="text-align: justify">each of our named executive officers;</TD>
</TR><TR STYLE="vertical-align: top; text-align: justify">
<TD>&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: justify">&nbsp;</TD></TR>
     </TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in; text-align: left">&#9679;</TD><TD STYLE="text-align: justify">each of our directors; and</TD>
</TR><TR STYLE="vertical-align: top; text-align: justify">
<TD>&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: justify">&nbsp;</TD></TR>
     </TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in; text-align: left">&#9679;</TD><TD STYLE="text-align: justify">all of our executive officers and directors as a group.</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The number of shares beneficially owned by each
stockholder is determined in accordance with the rules issued by the SEC, and the information is not necessarily indicative of beneficial
ownership for any other purpose. Under these rules, beneficial ownership includes any shares as to which the individual or entity has
sole or shared voting power or investment power, which includes the power to dispose of or to direct the disposition of such security.
Except as indicated in the footnotes below, we believe, based on the information furnished to us, that the individuals and entities named
in the table below have sole voting and investment power with respect to all shares of Common Stock beneficially owned by them, subject
to any community property laws.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Percentage ownership of our Common Stock is based
on&nbsp;29,248,688 shares of Common Stock outstanding as of October 25, 2022. In computing the number of shares beneficially owned by
an individual or entity and the percentage ownership of that person, shares of Common Stock subject to options, restricted units, warrants
or other rights held by such person that are currently exercisable or will become exercisable within 60 days of October 25, 2022 are considered
outstanding, although these shares are not considered outstanding for purposes of computing the percentage ownership of any other person.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">To calculate a stockholder&rsquo;s percentage
of beneficial ownership of Common Stock, we must include in the numerator and denominator those shares of Common Stock, as well as those
shares of Common Stock underlying options, warrants and convertible securities, that such stockholder is considered to beneficially own.
Shares of Common Stock, and Common Stock underlying options, warrants and convertible securities, held by other stockholders, however,
are disregarded in this calculation. Therefore, the denominator used in calculating beneficial ownership of each of the stockholders
may be different.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Unless otherwise indicated, the address of each
beneficial owner listed below is c/o Pasithea Therapeutics Corp., 1111 Lincoln Road, Suite 500, Miami Beach, FL 33139. To our knowledge,
there is no arrangement, including any pledge by any person of securities of the Company, the operation of which may at a subsequent date
result in a change in control of the Company.</P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-bottom: 1.5pt">&nbsp;</TD><TD STYLE="padding-bottom: 1.5pt; font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="6" STYLE="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Beneficial Ownership</TD><TD STYLE="padding-bottom: 1.5pt; font-weight: bold">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-bottom: 1.5pt; font-weight: bold; text-align: justify"><U>Name of Beneficial Owner</U></TD><TD STYLE="padding-bottom: 1.5pt; font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Common Stock</TD><TD STYLE="padding-bottom: 1.5pt; font-weight: bold">&nbsp;</TD><TD STYLE="padding-bottom: 1.5pt; font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">%</TD><TD STYLE="padding-bottom: 1.5pt; font-weight: bold">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-bottom: 1.5pt; font-weight: bold; text-align: justify">5% Stockholders:</TD><TD STYLE="padding-bottom: 1.5pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="padding-bottom: 1.5pt; text-align: justify">&nbsp;</TD><TD STYLE="padding-bottom: 1.5pt">&nbsp;</TD><TD STYLE="padding-bottom: 1.5pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="padding-bottom: 1.5pt; text-align: justify">&nbsp;</TD><TD STYLE="padding-bottom: 1.5pt">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 76%; text-align: justify; padding-bottom: 1.5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">PD Joint Holdings, LLC, Series 2016-A<SUP>(1)</SUP></FONT></TD><TD STYLE="padding-bottom: 1.5pt; width: 1%">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1.5pt; width: 1%; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1.5pt; width: 9%; text-align: right">3,408,696</TD><TD STYLE="width: 1%; padding-bottom: 1.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1.5pt; width: 1%">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1.5pt; width: 1%; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1.5pt; width: 9%; text-align: right">11.7</TD><TD STYLE="width: 1%; padding-bottom: 1.5pt; text-align: left">%</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: justify; padding-bottom: 1.5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">Dissident Group<SUP>(2)</SUP></FONT></TD><TD STYLE="padding-bottom: 1.5pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1.5pt; text-align: right">3,118,177</TD><TD STYLE="padding-bottom: 1.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1.5pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1.5pt; text-align: right">10.7</TD><TD STYLE="padding-bottom: 1.5pt; text-align: left">%</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: justify; padding-bottom: 1.5pt">&nbsp;</TD><TD STYLE="padding-bottom: 1.5pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1.5pt; text-align: right">&nbsp;</TD><TD STYLE="padding-bottom: 1.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1.5pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1.5pt; text-align: right">&nbsp;</TD><TD STYLE="padding-bottom: 1.5pt; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: justify; padding-bottom: 1.5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">Uday Khire<SUP>(3)</SUP></FONT></TD><TD STYLE="padding-bottom: 1.5pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1.5pt; text-align: right">1,472,662</TD><TD STYLE="padding-bottom: 1.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1.5pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1.5pt; text-align: right">5.0</TD><TD STYLE="padding-bottom: 1.5pt; text-align: left">%</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-weight: bold; text-align: justify; padding-bottom: 1.5pt">Named Executive Officers and Directors:</TD><TD STYLE="padding-bottom: 1.5pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1.5pt; text-align: right">&nbsp;</TD><TD STYLE="padding-bottom: 1.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1.5pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1.5pt; text-align: right">&nbsp;</TD><TD STYLE="padding-bottom: 1.5pt; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: justify; padding-bottom: 1.5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">Dr. Tiago Reis Marques<SUP>(4)</SUP></FONT></TD><TD STYLE="padding-bottom: 1.5pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1.5pt; text-align: right">743,333</TD><TD STYLE="padding-bottom: 1.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1.5pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1.5pt; text-align: right">2.5</TD><TD STYLE="padding-bottom: 1.5pt; text-align: left">%</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: justify; padding-bottom: 1.5pt">Daniel Schneiderman</TD><TD STYLE="padding-bottom: 1.5pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1.5pt; text-align: right">-</TD><TD STYLE="padding-bottom: 1.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1.5pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1.5pt; text-align: right">-</TD><TD STYLE="padding-bottom: 1.5pt; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: justify; padding-bottom: 1.5pt">Dr. Yassine Bendiabdallah</TD><TD STYLE="padding-bottom: 1.5pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1.5pt; text-align: right">300,000</TD><TD STYLE="padding-bottom: 1.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1.5pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1.5pt; text-align: right">1.0</TD><TD STYLE="padding-bottom: 1.5pt; text-align: left">%</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: justify; padding-bottom: 1.5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">Prof. Lawrence Steinman<SUP>(5)</SUP></FONT></TD><TD STYLE="padding-bottom: 1.5pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1.5pt; text-align: right">1,527,174</TD><TD STYLE="padding-bottom: 1.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1.5pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1.5pt; text-align: right">5.2</TD><TD STYLE="padding-bottom: 1.5pt; text-align: left">%</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: justify; padding-bottom: 1.5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">Simon Dumesnil<SUP>(6)</SUP></FONT></TD><TD STYLE="padding-bottom: 1.5pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1.5pt; text-align: right">50,000</TD><TD STYLE="padding-bottom: 1.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1.5pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">*</FONT></TD><TD STYLE="padding-bottom: 1.5pt; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: justify; padding-bottom: 1.5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">Dr. Emer Leahy<SUP>(7)</SUP></FONT></TD><TD STYLE="padding-bottom: 1.5pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1.5pt; text-align: right">50,000</TD><TD STYLE="padding-bottom: 1.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1.5pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">*</FONT></TD><TD STYLE="padding-bottom: 1.5pt; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: justify; padding-bottom: 1.5pt">Alfred J. Novak</TD><TD STYLE="padding-bottom: 1.5pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1.5pt; text-align: right">-</TD><TD STYLE="padding-bottom: 1.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1.5pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1.5pt; text-align: right">-</TD><TD STYLE="padding-bottom: 1.5pt; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: justify; padding-bottom: 1.5pt">All officers and directors as a group (7 persons)</TD><TD STYLE="padding-bottom: 1.5pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1.5pt; text-align: right">2,670,507</TD><TD STYLE="padding-bottom: 1.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1.5pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1.5pt; text-align: right">9.0</TD><TD STYLE="padding-bottom: 1.5pt; text-align: left">%</TD></TR>
  </TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

<!-- Field: Rule-Page --><DIV STYLE="margin-top: 0pt; margin-bottom: 0pt; width: 25%"><DIV STYLE="font-size: 1pt; border-top: Black 1.5pt solid">&nbsp;</DIV></DIV><!-- Field: /Rule-Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.25in; text-align: left">*</TD><TD STYLE="text-align: justify">Less than 1%.</TD>
</TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.25in; text-align: left">(1)</TD><TD STYLE="text-align: justify">Based solely upon a Schedule 13G filed on June&nbsp;29, 2022.
To our knowledge, Paul B. Manning holds voting and dispositive control over PD Joint Holdings, LLC, Series 2016-A and as such may be
deemed to be an indirect beneficial owner of the reported securities. The address of both Paul B. Manning and PD Joint Holdings, LLC,
Series 2016-A is c/o PBM Capital Group, 200 Garrett Street, Suite S, Charlottesville, VA 22902. In addition set forth in the above table,
PD Joint Holdings, LLC, Series 2016-A holds warrants to purchase an aggregate of 800,000 shares of Common Stock (&ldquo;Warrants&rdquo;)
at an exercise price of $1.88 per share, which may be exercised on a cashless basis until June 21, 2027. The Warrants contain a customary
4.99% beneficial ownership blocker provision and are therefore not reflected as beneficially owned by the stockholder.</TD>
</TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.25in; text-align: left">(2)</TD><TD STYLE="text-align: justify">Based solely upon a Schedule 13D/A filed on September 6, 2022.
Consists of (i) 191,321 shares of Common Stock held by Concord IP2 Ltd., (ii) 35,200 shares of Common Stock held by Elderhill Corporation,
(iii) 1,034,702 shares of Common Stock held by Leonite Capital LLC, (iv) 154,644 shares of common stock held by Leonite Fund I, LP, and
(v) 1,702,310 shares of common stock held by Camac Fund, LP. To our knowledge, David Delaney holds voting and dispositive control over
Concord IP2 Ltd. and Elderhill Corporation and as such may be deemed to be an indirect beneficial owner of the reported securities. The
address of Concord IP2 Ltd., Elderhill Corporation and David Delaney is c/o Concord Investment Partners Ltd., 60 St. Clair Avenue East,
Suite 702, Toronto, ON, M4T 1N5 Canada. To our knowledge, Avi Geller holds voting and dispositive control over Leonite Capital LLC and
as such may be deemed to be an indirect beneficial owner of the reported securities. The address of both Leonite Capital LLC and Avi
Geller is 1 Hillcrest Center Drive Suite 232 Spring Valley, NY 10977. To our knowledge, Camac Fund L.P. is controlled by Camac Capital,
LLC, and Eric Shahinian is the managing member of Camac Capital, LLC. As such, Mr. Shahinian holds voting and dispositive control over
Camac Fund L.P. and as such may be deemed to be an indirect beneficial owner of the reported securities. The address of Camac Fund L.P.,
Camac Fund, LLC and Eric Shahinian is 350 Park Avenue, 13<SUP>th</SUP>&nbsp;Floor, New York, NY 10022.</TD>
</TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.25in; text-align: left">(3)</TD><TD STYLE="text-align: justify">Consists of shares of Common Stock beneficially owned by the
stockholder in his capacity as representative of the shareholders of AlloMek Therapeutics, LLC (&ldquo;AlloMek&rdquo;), and for which
he disclaims beneficial ownership of 501,623 of the shares (in which he has no pecuniary interest). In addition set forth in the above
table, the stockholder holds warrants to purchase an aggregate of 413,230 shares of Common Stock which are exercisable until October
10, 2027. The Warrants contain a customary 4.99% beneficial ownership blocker provision and are therefore not reflected as beneficially
owned by the stockholder.</TD>
</TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.25in; text-align: left">(4)</TD><TD STYLE="text-align: justify">Includes (i) 66,667 shares subject to restricted stock units
exercisable within 60 days of October 25, 2022 and (ii) 66,667 shares subject to options exercisable within 60 days of October 25, 2022.</TD>
</TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.25in; text-align: left">(5)</TD><TD STYLE="text-align: justify">Includes 50,000 shares subject to options exercisable within
60 days of October 25, 2022, and warrants to purchase 200,000 shares of Common Stock.</TD>
</TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.25in; text-align: left">(6)</TD><TD STYLE="text-align: justify">Includes 50,000 shares subject to options exercisable within
60 days of October 25, 2022.</TD>
</TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.25in; text-align: left">(7)</TD><TD STYLE="text-align: justify">Includes 50,000 shares subject to options exercisable within
60 days of October 25, 2022.</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B><A NAME="a_008"></A>STOCKHOLDER PROPOSALS FOR 2023 ANNUAL MEETING</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Our bylaws provide that, for stockholder nominations
to the Board or other proposals to be considered at an annual meeting, the stockholder must have given timely notice thereof in writing
to the Secretary at the principal executive offices of the Corporation. To be timely, the stockholder&rsquo;s notice must be delivered
to or mailed and received by us not earlier than the close of business on the 120th day nor later than the close of business on the 90th
day prior to the anniversary date of the prior year&rsquo;s annual meeting, except that if the annual meeting is set for a date that is
not within 30 days before or after such anniversary date, we must receive the notice not later than the close of business on the tenth
day following the day on which we first provide notice or public disclosure of the date of the Annual Meeting. Assuming the date of our
2023 Annual Meeting is not so advanced or delayed, stockholders who wish to make a proposal at the Fiscal 2023 annual meeting must notify
us no earlier than February 24, 2023 and no later than March 27, 2023. Such notice must provide the information required by our bylaws
with respect to each matter the stockholder proposes to bring before the Fiscal 2023 annual meeting. If you wish to obtain a free copy
of our bylaws, please contact Investor Relations at Pasithea Therapeutics Corp., 1111 Lincoln Road, Miami Beach, Florida 33139, or by
email at lwilson@insitecony.com.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Pursuant to SEC Rule 14a-8, certain stockholder proposals
may be eligible for inclusion in the Company&rsquo;s proxy statement for the 2023 Annual Meeting of stockholders. To be considered for
inclusion in next year&rsquo;s proxy statement, stockholder proposals must be received by our Corporate Secretary at our principal executive
offices no later than the close of business on January 13, 2023.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B><A NAME="a_009"></A>OTHER MATTERS</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">In accordance with the Bylaws, the business transacted
at the Special Meeting will be limited to the matters set forth in the Notice of Special Meeting of Stockholders and this Statement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B><A NAME="a_010"></A>EXPENSES OF SOLICITATION</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Company will bear the expenses of calling
and holding the Special Meeting and the solicitation of proxies with respect to the Special Meeting. These costs will include, among other
items, the expense of preparing, assembling, printing, and mailing the proxy materials to stockholders of record and street name stockholders,
and reimbursements paid to brokers, banks, and other nominees for their reasonable out-of-pocket expenses for forwarding proxy materials
to stockholders and obtaining voting instructions from street name stockholders. In addition to soliciting proxies by mail, our directors,
officers, and certain regular employees may solicit proxies on behalf of our Board, without additional compensation, personally or by
telephone. The regular employees will be administrative personnel.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Company has retained Kingsdale Advisors to
solicit stockholders in connection with the Special Meeting for which Kingsdale Advisors will be paid an estimated fee of up to $70,000.
Kingsdale Advisors will solicit in connection with the Special Meeting by personal interview, mail, telephone, facsimile or email. Kingsdale
Advisors will also ask brokerage houses and other custodians and nominees whether other persons are beneficial owners of our Common Stock.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B><A NAME="a_011"></A>HOUSEHOLDING OF PROXY MATERIALS</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Under the rules adopted by the SEC, we may deliver
a single set of proxy materials to one address shared by two or more of our stockholders. This delivery method is referred to as &ldquo;householding&rdquo;
and can result in significant cost savings. To take advantage of this opportunity, we have delivered only one set of proxy materials to
multiple stockholders who share an address, unless we received contrary instructions from the impacted stockholders prior to the mailing
date. We agree to deliver promptly, upon written or oral request, a separate copy of the proxy materials, as requested, to any stockholder
at the shared address to which a single copy of these documents was delivered. If you prefer to receive separate copies of the Notice,
proxy statement or annual report, contact Broadridge Financial Solutions, Inc. by calling 1-800-542-1061 or in writing at Broadridge,
Householding Department, 51 Mercedes Way, Edgewood, New York 11717.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">In addition, if you currently are a stockholder who
shares an address with another stockholder and would like to receive only one copy of future notices and proxy materials for your household,
you may notify your broker if your shares are held in a brokerage account or you may notify us if you hold registered shares. Registered
stockholders may notify us by contacting Broadridge Financial Solutions, Inc. at the above telephone number or address or sending a written
request to Pasithea Therapeutics Corp., 1111 Lincoln Road, Suite 500, Miami Beach, FL 33139, Attention: Tiago Reis Marques, Chief Executive
Officer.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B><A NAME="a_012"></A>RIGHT OF APPRAISAL</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Holders of shares of our Common Stock do not have
appraisal rights under Delaware law or under the governing documents of the Company in connection with this solicitation and the matters
set forth in the Notice of Special Meeting of Stockholders and this Statement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B><A NAME="a_013"></A>APPENDIX A: ADDITIONAL INFORMATION REGARDING
PARTICIPANTS IN THE SOLICITATION</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 0pt">Under applicable SEC rules
and regulations, members of our Board, Paul Manning, who controls PD Joint Holdings, LLC, Series 2016-A, a stockholder of the Company
that beneficially owns 11.7% of the outstanding Common Stock, Uday Khire, a stockholder of the Company that beneficially owns 5.0% of
the outstanding Common Stock and certain officers and directcors of the Company are &ldquo;participants&rdquo; with respect to the Company&rsquo;s
solicitation of proxies in connection with the Special Meeting. The following sets forth certain information about such persons (the &ldquo;Participants&rdquo;).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 0pt">The following table sets forth
certain information about the persons who have been directors or executive officers as of October 25, 2022.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24pt">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: Black 1.5pt solid; width: 49%; padding-right: 3pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>Name</B></FONT></TD>
    <TD STYLE="padding-bottom: 1.5pt; white-space: nowrap; width: 2%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; width: 49%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>Position</B></FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="padding-left: 10pt; text-indent: -10pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">Dr.
    Tiago Reis Marques</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">&nbsp;</TD>
    <TD STYLE="padding-left: 10pt; text-indent: -10pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">Chief
    Executive Officer and Director</FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="padding-left: 10pt; text-indent: -10pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">Daniel
    Schneiderman</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">&nbsp;</TD>
    <TD STYLE="padding-left: 10pt; text-indent: -10pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">Chief
    Financial Officer</FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="padding-left: 10pt; text-indent: -10pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">Dr.
    Yassine Bendiabdallah</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">&nbsp;</TD>
    <TD STYLE="padding-left: 10pt; text-indent: -10pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">Chief
    Operating Officer, and Head of U.K. Clinics </FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="padding-left: 10pt; text-indent: -10pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">Prof.
    Lawrence Steinman</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">&nbsp;</TD>
    <TD STYLE="padding-left: 10pt; text-indent: -10pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">Executive
    Chairman and Co-Founder</FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="padding-left: 10pt; text-indent: -10pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">Simon
    Dumesnil</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">&nbsp;</TD>
    <TD STYLE="padding-left: 10pt; text-indent: -10pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">Director</FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="padding-left: 10pt; text-indent: -10pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">Dr.
    Emer Leahy</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">&nbsp;</TD>
    <TD STYLE="padding-left: 10pt; text-indent: -10pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">Director</FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="padding-left: 10pt; text-indent: -10pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">Alfred
    J. Novak</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">&nbsp;</TD>
    <TD STYLE="padding-left: 10pt; text-indent: -10pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">Director</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 0pt">The following table sets forth
information with respect to the beneficial ownership of our Common Stock as of&nbsp;October 25, 2022 by our participants.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 0pt">The number of shares beneficially
owned is determined in accordance with the rules issued by the SEC, and the information is not necessarily indicative of beneficial ownership
for any other purpose. Under these rules, beneficial ownership includes any shares as to which the individual or entity has sole or shared
voting power or investment power, which includes the power to dispose of or to direct the disposition of such security. Except as indicated
in the footnotes below, we believe, based on the information furnished to us, that the individuals and entities named in the table below
have sole voting and investment power with respect to all shares of Common Stock beneficially owned by them, subject to any community
property laws.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 0pt">Percentage ownership of our
Common Stock is based on&nbsp;29,248,688 shares of Common Stock outstanding as of October 25, 2022. In computing the number of shares
beneficially owned by an individual or entity and the percentage ownership of that person, shares of Common Stock subject to options,
restricted units, warrants or other rights held by such person that are currently exercisable or will become exercisable within 60 days
of October 25, 2022 are considered outstanding, although these shares are not considered outstanding for purposes of computing the percentage
ownership of any other person.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 0pt">To calculate a stockholder&rsquo;s
percentage of beneficial ownership of Common Stock, we must include in the numerator and denominator those shares of Common Stock, as
well as those shares of Common Stock underlying options, warrants and convertible securities, that such stockholder is considered to beneficially
own. Shares of Common Stock, and Common Stock underlying options, warrants and convertible securities, held by other stockholders, however,
are disregarded in this calculation. Therefore, the denominator used in calculating beneficial ownership of each of the stockholders may
be different.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 0pt">See &ldquo;SECURITY OWNERSHIP
OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT&rdquo; of the Statement for information regarding the ownership of Common Stock and the address
of each of the participants.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 0pt">within 60 days of
October 25, 2022.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-indent: 0pt; margin: 0pt; text-align: justify">MISCELLANEOUS INFORMATION REGARDING PARTICIPANTS</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-indent: 0pt; margin: 0pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Each of the Company&rsquo;s directors and executive
officers is entitled to indemnification under the Certificate of Incorporation and the Bylaws.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Other than as set forth in this Appendix A or
elsewhere in this Statement and based on the information provided by each Participant:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in; text-align: left">&#9679;</TD><TD STYLE="text-align: justify">No Participant or associate of any Participant beneficially
owns, directly or indirectly, or owns of record but not beneficially, any shares of our Common Stock or other securities of the Company
or any parent or subsidiary of the Company;</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in; text-align: left">&#9679;</TD><TD STYLE="text-align: justify">No Participant has any substantial interest, direct or indirect,
by security holdings or otherwise, in any matter to be acted upon at the Special Meeting other than an interest, if any, as a stockholder
of the Company or, with respect to a director nominee, as a nominee for director; and</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in; text-align: left">&#9679;</TD><TD STYLE="text-align: justify">No Participant has purchased or sold any securities of the
Company within the past two years.</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">In addition, neither the Company nor any of the
Participants is now or has been within the past year a party to any contract, arrangement or understanding with any person with respect
to any of the company&rsquo;s securities, including, but not limited to, joint ventures, loan or option arrangements, puts or calls, guarantees
against loss or guarantees of profit, division of losses or profits, or the giving or withholding of proxies.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">There are no material proceedings to which the
Participants or any of their associates is a party or has a material interest adverse to the Company. Neither the Company nor any of the
Participants has been convicted in a criminal proceeding (excluding traffic violations or similar misdemeanors) during the past 10 years.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Other than the persons described in this Statement,
no regular employees of the Company have been or are to be employed to solicit stockholders in connection with this proxy solicitation.
However, in the course of their regular duties, certain administrative personnel may be asked to perform clerical or ministerial tasks
in furtherance of this solicitation.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Other than as set forth in this Appendix A or
elsewhere in this Statement and based on the information provided by each Participant, neither the Company nor any of the Participants
or any of their associates have (i) any arrangements or understandings with any person with respect to any future employment by the Company
or any of its affiliates or with respect to any future transactions to which the Company or any of its affiliates will or may be a party,
or (ii) a direct or indirect material interest in any transaction or series of similar transactions since January 1, 2021 or any currently
proposed transactions, or series of similar transactions, in which the Company or any of its subsidiaries was or is to be a party in which
the amount involved exceeds $120,000.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B><I>&nbsp;</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B><I>Zen Healthcare &ndash; Purecare Ltd</I></B>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">We entered into the Amended and Restated Zen Knightsbridge
Collaboration Agreement with Purecare during the year ended December 31, 2020, and amended and restated as of August 4, 2021, whereby
both parties have agreed to collaborate on the provision of Treatments at Purecare&rsquo;s London based clinic. The Company has agreed,
among other things, market the Treatments to the extent permitted under law, arrange and pay for the fit-out of the consulting room, provide
equipment necessary for the Treatments, develop, operate and maintain a booking website for the Treatments, make bookings and take payments,
and employ or engage customer services advisers to liaise with clinical staff and pay certain staff costs. Purecare has agreed provide
consulting and treatment rooms, apply for and maintain CQC registrations, employ or engage licensed and qualified staff, assess patients
and, if appropriate, administer the Treatments, maintain equipment and provide all ketamine and other pharmaceuticals necessary for the
Treatments. All revenues from such Treatments (less certain staff costs) shall be allocated 30% to the Company and 70% to Purecare.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Our Chief Operating Officer, Head of U.K. Clinics
and Director, Dr. Yassine Bendiabdallah, is a co-founder, current managing director, and 25% shareholder of Purecare. As of December 31,
2021, no payments have been made pursuant to the Amended and Restated Zen Knightsbridge Collaboration Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B><I>&nbsp;</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B><I></I></B></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B><I>&nbsp;</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B><I>Zen Healthcare &ndash; Portman Health Ltd</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">We entered into the Amended and Restated Zen Baker
Street Collaboration Agreement with Portman on during the year ended December 31, 2020, and amended and restated as of August 4, 2021,
whereby both parties have agreed to collaborate on the provision of Treatments at Portman&rsquo;s London based clinic. The Company has
agreed, among other things, market the Treatments to the extent permitted under law, arrange and pay for the fit-out of the consulting
room, provide equipment, develop, operate and maintain a booking website for the Treatments, make bookings and take payments, and employ
or engage customer services advisers to liaise with clinical staff and pay certain staff costs. Portman has agreed provide consulting
and treatment rooms, apply for and maintain CQC registrations, employ or engage licensed and qualified staff, assess patient and, if appropriate,
administer the Treatments, maintain equipment and provide all ketamine and other pharmaceuticals necessary for the Treatments. All revenues
from such Treatments (less certain staff costs) shall be allocated 30% to the Company and 70% to Portman.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Dr. Bendiabdallah is a co-founder and 16.25% shareholder
of Portman. As of December 31, 2021, no payments have been made pursuant to the Amended and Restated Zen Baker Street Collaboration Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B><I>&nbsp;</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B><I>Alpha-5 integrin, LLC</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">On June 21, 2022, we purchased from PD Joint Holdings,
LLC Series 2016-A and Lawrence Steinman, all of the issued and outstanding equity of Alpha-5 integrin, LLC (&ldquo;Alpha-5&rdquo;) in
exchange for (i) an aggregate of 3,260,870 shares (the &ldquo;Alpha Shares&rdquo;) of the Company&rsquo;s Common Stock, (ii) an aggregate
of 1,000,000 warrants (to purchase shares of the Common Stock, and (iii) contingent earn-out payments of an aggregate of 2% to 4% of net
sales generated from the sale of a drug currently in development by Alpha-5. Lawrence Steinman is the Executive Chairman and Co-Founder
of the Company. The terms of the Agreement were approved by (i) the disinterested members of the Audit Committee of the Board and (ii)
the disinterested members the Board, under the Company&rsquo;s related party transaction policy.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B><I>&nbsp;</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B><I>AlloMek Therapeutics, LLC</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">On October 11, 2022, the Company acquired AlloMek
Therapeutics, LLC (&ldquo;Allomek&rdquo;) for a purchase price consisting of (i) an aggregate of 2,700,000 shares of Common Stock, (ii)
Warrants to purchase 1,000,000 shares of Common Stock at an exercise price of $1.88 per share, which may be exercised on a cashless basis,
until October 10, 2027, (iii) a cash payment of $1,050,000, (iv) the right to certain milestone payments of up to $5,000,000, and (v)
the right to contingent earn-out payments ranging from 3% to 5% of net sales of the drug CIP-137401, depending on the amount of such net
sales in the applicable measurement period. AlloMek Therapeutics, LLC is a biotechnology company developing CIP-137401, which is a potential
best-in-class macrocyclic mitogen-activated protein kinase kinase 1/2 (MEK) inhibitor for use in a range of CNS-related indications, including
neurofibromatosis type 1 (NF1) and Noonan syndrome, as well as potential synergy with the Company&rsquo;s existing multiple sclerosis
(MS) development program. In connection with the Allomek acquisition, Uday Khire beneficially owns 5.0% of the outstanding Common Stock
and Warrants to purchase an aggregate of 413,230 shares of Common Stock. See &ldquo;SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND
MANAGEMENT&rdquo; of the Statement. Mr. Khire also received certain registration rights with respect to the Common Stock that he owns.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">A-3</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

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end
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
