Can-Fite BioPharma Announces 1-For-3,000 Reverse Share Split, Effective January 5, 2026

Can-Fite BioPharma Ltd. (NYSE:CANF) (TASE: CANF), a biotechnology company advancing a pipeline of proprietary small-molecule drugs targeting oncological and inflammatory diseases, announced today that following the approval of its shareholders on November 10, 2025, its Board of Directors has approved a 1-for-3,000 reverse split of the Company's  ordinary shares. The reverse split will be recorded with the Tel-Aviv Stock Exchange  on January 2, 2026 and on January 4, 2026, the Tel-Aviv Stock Exchange will be closed. The first trading date for the newly consolidated ordinary shares on the Tel-Aviv Stock Exchange will be January 5, 2026.

The reverse split will result in each outstanding three thousand pre-split ordinary shares automatically combining into one new ordinary share, no par value, without any further action on the part of the shareholders. Concurrently with the reverse split, the Company will effect a corresponding change in the ratio of ordinary shares underlying each of the Company's American Depositary Shares (ADSs), such that its ratio of ADSs to ordinary shares will change from one (1) ADS representing three hundred (300) ordinary shares to a new ratio of one (1) ADS representing two (2) ordinary shares and no adjustment will be made to the outstanding number of the ADSs of the Company. The ratio change will be effective on the NYSE American on January 5, 2026.

For ADS holders, the ratio change will have the same effect as a one-for-twenty ADS split. On the effective date, each ADS holder will be required to exchange every twenty (20) ADSs then held for one (1) new ADS. The Bank of New York Mellon, the depositary bank, will arrange for the exchange of the current ADSs for the new ones. The Company's ADSs will continue to trade on the NYSE American under the symbol "CANF" with a new CUSIP Number 13471N409.

The total number of outstanding ordinary shares will be reduced on the effective date at a ratio of three thousand-for-one. The Company's authorized number of ordinary shares will also be proportionately decreased from 42,000,000,000 to 14,000,000 ordinary shares, no par value, each as a result of the reverse split. No fractional ordinary shares will be issued as a result of the reverse split as any fractional ordinary shares resulting from the reverse split will be rounded up to the nearest whole share on a per shareholder basis.

The reverse split and ADS ratio change will not impact any shareholder's percentage ownership of the Company or voting power, except for minimal effects resulting from the treatment of fractional shares.

No fractional new ADSs will be issued in connection with the change in the ADS ratio. Instead, fractional entitlements to new ADSs will be aggregated and sold by the depositary bank and the net cash proceeds from the sale of the fractional ADS entitlements (after deduction of fees, taxes and expenses) will be distributed to the applicable ADS holders by the depositary bank.

As a result of the change in the ADS ratio, the ADS price is expected to increase proportionally, although the Company can give no assurance that the ADS price after the change in the ADS ratio will be equal to or greater than twenty times the ADS price before the change.