Company: MDCXW
Filing Date: 2025-03-07
Form Type: 253G1
Source: 0001062993-25-004966
Chunk: 217

Company: Medicus Pharma Ltd.
Filing Date: 2025-03-07
Form: 253G1
Chunk 217
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 PCAOB. Those standards require that we plan and perform the audits to obtain reasonable assurance about whether the consolidated financial statements are free of material misstatement, whether due to error or fraud. The Company is not required to have, nor were we engaged to perform, an audit of its internal control over financial reporting. As part of our audits, we are required to obtain an understanding of internal control over financial reporting, but not for the purpose of expressing an opinion on the effectiveness of the Company's internal control over financial reporting. Accordingly, we express no such opinion.

Our audits included performing procedures to assess the risks of material misstatement of the consolidated financial statements, whether due to error or fraud, and performing procedures that respond to those risks. Such procedures included examining, on a test basis, evidence regarding the amounts and disclosures in the consolidated financial statements. Our audits also included evaluating the accounting principles used and significant estimates made by management, as well as evaluating the overall presentation of the consolidated financial statements. We believe that our audits provide a reasonable basis for our opinion.

Chartered Professional Accountants

Licensed Public Accountants

We have served as the Company's auditor since 2014.

Mississauga, Canada

<div align='center'>F-20</div>

| MNP LLP                                                     |                                 |
| Suite 900, 50 Burnhamthorpe Road W, Mississauga ON, L5B 3C2 | T: 416.626.6000 F: 416.626.8650 |
|                                                             | MNP.ca                          |

<div align='center'>F-21</div>

Medicus Pharma Ltd.
Consolidated Financial Statements

For the years ended December 31, 2023 and 2022
(expressed in United States dollars, except number of shares)

<div align='center'>F-22

Medicus Pharma Ltd.
Consolidated Statements of Financial Position
(expressed in United States dollars)</div>

| As at                                                   |       |     | December 31, 
         2023 |   |     | December 31, 
         2022 |   |
|:--------------------------------------------------------|------:|:----|-------------:|:--|:----|-------------:|:--|
|                                                         | Notes |     |            $ |   |     |            $ |   |
| Assets                                                  |       |     |              |   |     |              |   |
| Current assets                                          |       |     |              |   |     |              |