Milestone Pharmaceuticals Inc. Schedule 13G Filing

Propel Bio Management, LLC, along with individuals Leen Kawas and Richard Kayne, and entity Propel Bio Partners LLC, collectively hold 9.99% of Milestone Pharmaceuticals Inc. common stock, amounting to 8,861,186 shares. This ownership is subject to a limitation where further exercise of warrants would exceed the 9.99% threshold. The percentages are calculated based on 53,464,273 shares outstanding as of May 14, 2025, and an additional 31,500,000 shares from an offering on July 11, 2025, assuming the exercise of warrants for 3,736,296 shares. The reporting persons certify that these securities were not acquired or held to influence or change the control of the issuer.