Anavex Life Sciences (AVXL) Proxy filing summary

Executive summary

• Proxy advisory firm ISS recommended voting for all six director nominees at the 2026 Annual Meeting scheduled for September 24, 2026.

• ISS recognized the company's substantive plan and strategy, noting no compelling case for change from dissident shareholders.

• The board has undergone significant refreshment in 2026, with half of its members being new and bringing expertise in drug development and regulatory processes.

• The board acted decisively by removing the former CEO and forming a special committee, and is in the process of hiring permanent CEO, CFO, and CMO.

• Forward-looking statements caution about risks and uncertainties related to business prospects and board actions.

Voting matters and shareholder proposals

• Stockholders are urged to vote for all six director nominees using the WHITE proxy card.

• The record date for voting eligibility is July 31, 2026.

• ISS's recommendation followed an independent review of both the company's and dissident's proposals.

Board of directors and corporate governance

• Board refreshment in 2026 resulted in half of the board being new, with all directors independent.

• New board members bring experience in drug development, early-stage company development, and FDA approval processes.

• The board is moving towards hiring permanent executive leadership.