Mr. David Pidduck reports

MEDIPHARM ANNOUNCES COMPLETE DISMISSAL OF DEFAMATION ACTION INITIATED BY APOLLO, NOBUL AND REGAN MCGEE UNDER ONTARIO ANTI-SLAPP LAW

The Superior Court of Justice -- Ontario (Commercial List) has fully dismissed the statement of claim (CV-25-00742450-0000) issued by Apollo Technology Capital Corp., Nobul Technologies Inc. and Regan McGee (together with Apollo and Nobul, the plaintiffs) on May 5, 2025, against Medipharm Labs Corp.'s chief executive officer, David Pidduck, and chairman of the board, Chris Taves.

Further to the company's press release dated May 28, 2025, in which the company announced that the plaintiffs agreed to dismiss the frivolous $50-million conflict of interest claim against the company's litigation counsel, in its entirety on a with-prejudice basis (the May, 2025, court dismissal), Medipharm is pleased to announce that the court has now granted the anti-SLAPP motion brought by Mr. Pidduck and Mr. Taves under the anti-SLAPP provisions of Section 137.1(3) of the Courts of Justice Act (Ontario), dismissing the remaining libel allegations against them in full.

The plaintiffs sought, amongst other things, damages in the amount of $50-million against Mr. Pidduck and Mr. Taves for defamation relating to a letter that was sent to a former executive of a Medipharm subsidiary working alongside Apollo on April 29, 2025, in connection with the proxy contest initiated by the plaintiffs. In making its decision to grant the motion, and dismiss all remaining aspects of the claim in full, the court noted the following:

"I find that the April 29 letter is typical of a lawyer's letter that one would expect in these circumstances."

"In my view there is ample evidence confirming the truth of the assertions/concerns in the April 29 letter and, again, no evidence to the contrary."

"I find that the plaintiffs have utterly failed to meet the onus required of them, and I find that the defendants have on balance established valid defences in the case of each of the four defences they assert."

"The plaintiffs have produced no evidence that the April 29 letter caused any harm, let alone the 'serious harm' that they must show under s. 137.1(4)(b)."

The successful grant of the motion by the court today follows both the May, 2025, court dismissal, and the subsequent dismissal by the court of the application issued by Apollo and Nobul against the company on May 16, 2025, relating to, amongst other things, appointing a third party independent chair to preside over the annual and special meeting of shareholders of the company on June 16, 2025. Costs that are owed to Medipharm as a result of the full dismissal of the application, have yet to be paid by Apollo and Nobul.

Medipharm also wishes to alert its shareholders that certain prior press releases related to Apollo were amended and disseminated under the company's name and/or filed on its SEDAR+ profile without its authorization, and consent on Friday, Nov. 7, 2025, and Monday, Nov. 10, 2025 (the unauthorized press releases). The unauthorized press releases relate to press releases previously disseminated by the company on May 13, 2025, and May 15, 2025 (the actual press releases). Medipharm is actively working with the relevant third party press release distribution platform to resolve this matter.

About Medipharm Labs Corp.

Founded in 2015, Medipharm Labs specializes in the development and manufacture of purified, pharmaceutical-quality cannabis concentrates, active pharmaceutical ingredients (API) and advanced derivative products utilizing a good manufacturing practices certified facility with ISO standard-built clean rooms. Medipharm Labs has invested in an expert, research-driven team, state-of-the-art technology, downstream purification methodologies and purpose-built facilities for delivery of pure, trusted and precision-dosed cannabis products for its customers. Medipharm Labs develops, formulates, processes, packages, and distributes cannabis and advanced cannabinoid-based products to domestic and international medical markets.

In 2021, Medipharm Labs received a pharmaceutical drug establishment licence from Health Canada, becoming the only company in North America to hold a commercial-scale domestic good manufacturing practices licence for the extraction of multiple natural cannabinoids. This GMP licence was the first step in the company's current foreign drug manufacturing site registration with the United States Food and Drug Administration.

In 2023, Medipharm acquired VIVO Cannabis Inc., which expanded Medipharm's reach to medical patients in Canada via Canna Farms medical e-commerce platform, and in Australia and Germany through Beacon Medical Australia Pty. Ltd. and Beacon Medical Germany GmbH. This acquisition also included Harvest Medical Clinics in Canada which provides medical cannabis patients with physician consultations for medical cannabis education and prescriptions.

The company carries out its operations in compliance with all applicable laws in the countries in which it operates.

We seek Safe Harbor.