Company: IXHL
Filing Date: 2025-04-17
Form Type: PRER14A
Source: 0001213900-25-033013
Chunk: 39

Company: Incannex Healthcare Inc.
Filing Date: 2025-04-17
Form: PRER14A
Chunk 39
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,
the number of votes cast FOR the proposal must exceed the number of votes cast AGAINST the proposal; provided that our common stock meets
the Listing Condition, in which case, abstentions with respect to the Amendment Proposal will not be considered “votes cast”
and will have no effect on the Charter Amendment Proposal. If the Listing Condition is not met, the Charter Amendment Proposal must receive
the affirmative vote of the holders of a majority of our issued and outstanding shares of common stock as of the Record Date and any abstentions
with respect to the Charter Amendment Proposal would have the same effect as a vote AGAINST the Charter Amendment Proposal. Brokerage
firms do not have authority to vote customers’ unvoted shares held by the firms in street name on this proposal. As a result, any
shares not voted by a customer will be treated as a broker non-vote. If the Listing Condition is met, any broker non-votes will have no
effect on the Charter Amendment Proposal. If the Listing Condition is not met, any broker non-votes will be treated as a vote AGAINST
the Charter Amendment Proposal.

THE BOARD OF DIRECTORS RECOMMENDS A VOTE TO APPROVE THE AMENDMENT OF OUR AMENDED AND RESTATED CERTIFICATE OF INCORPORATION TO INCREASE THE TOTAL SHARES OF COMMON STOCK AUTHORIZED FOR ISSUANCE THEREUNDER FROM 100,000,000 SHARES TO 800,000,000 SHARES. PROXIES SOLICITED BY THE BOARD WILL BE VOTED IN FAVOR OF THE PROPOSAL UNLESS A STOCKHOLDER INDICATES OTHERWISE ON ITS PROXY CARD OR VOTING INSTRUCTION FORM.

<div align='center'>19

Proposal No. 3
APPROVAL OF THE EQUITY INCENTIVE PLAN PROPOSAL</div>

General

Our board of directors is requesting that our
stockholders approve the adoption of amendments to our 2023 Equity Incentive Plan (the “2023 Plan”), which amendments were
approved by the board of directors on April 15, 2025 (the “Amended 2023 Plan”) effective following approval of the Amended
2023 Plan by our stockholders at the special meeting and at such time as we have enough available authorized shares of common stock under
our Amended and Restated Certificate of Incorporation to accommodate the number of shares then reserved under the Amended 2023 Plan. If
this proposal is approved:

| ● | the number of shares authorized for issuance