Company: IXHL
Filing Date: 2025-04-17
Form Type: PRER14A
Source: 0001213900-25-033013
Chunk: 66

Company: Incannex Healthcare Inc.
Filing Date: 2025-04-17
Form: PRER14A
Chunk 66
---
” share provided to the U.S. holder. We believe such tax event will be minimal or insignificant
for most U.S. holders.

A U.S. holder’s aggregate tax basis in the lesser number of
shares received in the Reverse Stock Split will generally be the same such U.S. holder’s aggregate tax basis in the shares of our
common stock that such U.S. holder owned immediately prior to the Reverse Stock Split. The holding period for the shares received in the
Reverse Stock Split will include the period during which a U.S. holder held the shares of our common stock that were surrendered in the
Reverse Stock Split. The U.S. Treasury Regulations provide detailed rules for allocating the tax basis and holding period of the shares
of our common stock surrendered to the shares of our common stock received pursuant to the Reverse Stock Split. U.S. holders of shares
of our common stock acquired on different dates and at different prices should consult their tax advisors regarding the allocation of
the tax basis and holding period of such shares.

THE FOREGOING IS INTENDED ONLY AS A SUMMARY OF CERTAIN FEDERAL INCOME TAX CONSEQUENCES OF THE REVERSE STOCK SPLIT, AND DOES NOT CONSTITUTE A TAX OPINION. EACH HOLDER OF OUR COMMON STOCK SHOULD CONSULT ITS OWN TAX ADVISOR REGARDING THE TAX CONSEQUENCES OF THE REVERSE STOCK SPLIT TO THEM.

<div align='center'>33</div>

Required Vote

For the Reverse Stock Split Proposal to be approved,
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 Reverse Stock Split Proposal will not be considered “votes
cast” and will have no effect on the Reverse Stock Split Proposal. If the Listing Condition is not met, the Reverse Stock Split
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 Reverse Stock Split Proposal would have the same effect as a vote AGAINST the Reverse
Stock Split 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 Reverse Stock Split Proposal. If the