BullFrog AI Holdings, Inc. (BFRG) entered into a Feasibility Agreement with a global pharmaceutical company on March 27, 2026. The agreement involves BullFrog AI applying its proprietary bfLEAP artificial intelligence and machine learning tool to discover and prioritize drug target candidates for Major Depressive Disorder (MDD). Deliverables include a feasibility assessment, a prioritized target list, unblinded causal gene networks, and target dossiers for advancement-ready drug candidates. The agreement has a term of one year from its execution date. BullFrog AI is eligible to receive pre-determined milestone payments upon the delivery of specified deliverables. The client has the option to obtain exclusive rights to use a selected final target drug candidate for its research and development purposes for a period of three years, upon payment of a one-time Target Exclusivity Fee. Either party can terminate the agreement for an uncured material breach with 30 days' notice, and the client can terminate without cause with 30 days' notice.