An anonymous director reports

APOTEX HEALTH CORP. ANNOUNCES CLOSING OF UPSIZED INITIAL PUBLIC OFFERING AND EXERCISE OF OVER-ALLOTMENT OPTION IN FULL

Apotex Health Corp. has closed its upsized initial public offering of 62,291,670 common shares of the company at a price of $24 per common share for gross proceeds of $1,495,000,080.

The offering consisted of a treasury offering by Apotex of 35,416,666 common shares at the offering price, for gross proceeds of $849,999,984 to Apotex, and a secondary offering by SK Capital Partners and certain other shareholders of the company of 26,875,004 common shares at the offering price, for gross proceeds of $645,000,096 to the selling shareholders. The secondary offering includes 8,125,000 common shares sold to the underwriters upon exercise of their option to acquire additional common shares at the offering price, which was exercised in full. The company did not receive any of the proceeds from the sale of common shares pursuant to the exercise of the overallotment option.

The offering was made through a syndicate of underwriters led by RBC Capital Markets, TD Securities Inc. and Bank of Nova Scotia, as co-lead managers, joint global co-ordinators and joint lead bookrunners, BMO Capital Markets and Jefferies Securities Inc., as joint bookrunners, and CIBC Capital Markets, ATB Cormark Capital Markets, Desjardins Capital Markets, National Bank Capital Markets, MUFG, Raymond James, Bloom Burton Securities Inc., Canaccord Genuity Corp., Stifel and Paradigm Capital Inc., as co-managers.

Goodmans LLP acted as Canadian legal counsel to Apotex and Stikeman Elliott LLP acted as Canadian legal counsel to the underwriters. Kirkland & Ellis LLP acted as U.S. legal counsel to Apotex, and Skadden, Arps, Slate, Meagher & Flom LLP acted as U.S. legal counsel to the underwriters.

The common shares are listed on the Toronto Stock Exchange under the symbol APTX.

The offering was completed pursuant to Apotex's supplemented PREP prospectus dated June 10, 2026, filed with the securities regulatory authorities in each of the provinces and territories of Canada, a copy of which is available under the company's profile on SEDAR+.

About Apotex Health Corp.

Apotex is a Canadian-based global health company. The company improves everyday access to affordable, innovative medicines and health products for millions of people around the world, with a broad portfolio of generic, biosimilar and innovative branded pharmaceuticals and consumer health products. Headquartered in Toronto, with regional offices globally, including in the United States, Mexico and India, Apotex is the largest Canadian-based pharmaceutical company and a health partner of choice for the Americas for pharmaceutical licensing and product acquisitions.

Early warning disclosure

SK Capital Partners

Immediately prior to the closing of the offering, SK Artemis Holdings II LLC (SK Holdings), a fund managed by SK Capital Partners, owned 145,316,100 common shares, representing approximately 75.3 per cent of the then issued and outstanding common shares. In connection with the offering, SK Holdings sold 25,672,586 common shares in the secondary offering at the offering price for aggregate gross proceeds of approximately $616-million. Immediately following completion of the offering, SK Holdings owns 119,643,514 common shares, representing approximately 52.4 per cent of the issued and outstanding common shares on a non-diluted basis.

SK Holdings holds its common shares for investment purposes. Depending on various factors, including, without limitation, market conditions, general economic and industry conditions, and the company's business and financial condition, SK Holdings may take such actions with respect to its investment in the company as it deems appropriate, including, without limitation, acquiring additional securities of the company, or selling or otherwise disposing of securities of the company from time to time, in each case subject to applicable laws and the terms of the SK investor rights agreement, the registration rights agreement and a lock-up agreement in favour of the underwriters, each as described in the supplemented prospectus.

For further information, including a copy of the corresponding early warning report to be filed by SK Holdings with the applicable Canadian securities regulatory authorities, please visit SEDAR+ or contact SK Holdings at 430 Park Ave. (18th floor), New York, N.Y., 10022, United States, attention: Taylor Thompson, e-mail: tthompson@skcapitalpartners.com.

Sherfam

Immediately prior to the closing of the offering, API Investment LP (Sherfam) owned 32,414,910 common shares, representing approximately 16.8 per cent of the then issued and outstanding common shares. Immediately following completion of the offering, Sherfam owns 32,414,910 common shares, representing approximately 14.2 per cent of the issued and outstanding common shares on a non-diluted basis.

Sherfam holds its common shares for investment purposes. Depending on various factors, including, without limitation, market conditions, general economic and industry conditions, and the company's business and financial condition, Sherfam may take such actions with respect to its investment in the company as it deems appropriate, including, without limitation, acquiring additional securities of the company, or selling or otherwise disposing of securities of the company from time to time, in each case subject to applicable laws and the terms of the registration rights agreement and a lock-up agreement in favour of the underwriters, each as described in the supplemented prospectus.

For further information, including a copy of the corresponding early warning report to be filed by Sherfam with the applicable Canadian securities regulatory authorities, please visit SEDAR+ or contact Sherfam at 302-10 Director Court, Woodbridge, Ont., L4L 7E8, attention: Sheron Khan, e-mail: info@sherfam.com.

We seek Safe Harbor.