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BELLUS Health Closes US$200 Million Public Offering of Common Shares in Canada and the United States

BELLUS Health Inc. (NASDAQ: BLU)(TSX: BLU) (the "Company" or "BELLUS Health") announced today that it has completed its previously-announced underwritten public offering in Canada and the United States (the "Offering") of 25,000,000 common shares at a price to the public of US$8.00 per common share. The total gross proceeds to the Company were US$200 million, before deducting the underwriting commissions and any expenses related to the Offering. Bellus has also granted to the underwriters an option exercisable by the underwriters within 30 days of the date of the underwriting agreement to purchase up to an additional 3,750,000 common shares of the Company.

BELLUS Health's common shares are dual-listed on the Nasdaq Global Market ("Nasdaq") and the Toronto Stock Exchange ("TSX") under the trading symbol "BLU". For the purposes of the TSX approval, the Company relied on the exemption set forth in Section 602.1 of the TSX Company Manual, which provides that the TSX will not apply its standards to certain transactions involving eligible interlisted issuers on a recognized exchange, such as Nasdaq (evidence that the volume of trading of the Company's securities on all Canadian marketplaces in the 12 months immediately preceding the date of the application was less than 25% attached).

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BELLUS Health Announces Pricing of US$200 Million Public Offering in Canada and the United States

Common Shares Priced at US$8.00 per Share

In connection with its previously announced public offering of common shares in Canada and the United States (the "Offering"), BELLUS Health Inc. ("BELLUS Health" or the "Company") (TSX and Nasdaq: BLU) today announced that it has entered into an underwriting agreement with a syndicate of underwriters comprising Jefferies, Evercore ISI and RBC Capital Markets as joint book-running managers, and including LifeSci Capital as lead manager and H.C. Wainwright & Co. and Bloom Burton as co-managers (collectively, the "Underwriters"), relating to the public offering of 25,000,000 common shares. The shares are being sold at a public offering price of US$8.00 per common share. Closing of the Offering is expected to occur on December 17, 2021, subject to the satisfaction of customary closing conditions. In addition, the Underwriters have been granted a 30-day option following the date hereof to purchase up to an additional 3,750,000 common shares from the Company.

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IIROC Trade Resumption - BLU

Trading resumes in:

Company: BELLUS Health Inc.

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