Mr. Chris Taves reports

MEDIPHARM LABS ANNOUNCES CEO TRANSITION: DAVID PIDDUCK TO STEP DOWN; CFO GREG HUNTER APPOINTED INTERIM CEO

David Pidduck will be stepping down from his role as Medipharm Labs Corp.'s chief executive officer, effective Jan, 23, 2026. The board of directors has appointed Greg Hunter, the company's chief financial officer, as interim chief executive officer, while it evaluates its long-term leadership plans. Mr. Hunter will continue to serve as chief financial officer during this interim period.

Mr. Pidduck has played a critical role in stabilizing and repositioning the company. Under his leadership, Medipharm successfully executed significant restructuring initiatives, improved profitability and completed the transformative integration of Vivo Cannabis Inc. following its acquisition by the company in April, 2023. Mr. Pidduck will continue to serve on the board to ensure a seamless transition.

The board is pleased to appoint Mr. Hunter as interim chief executive officer. Since assuming the chief financial officer role in February, 2021, he has implemented meaningful cost-reduction initiatives and strengthened financial and operational controls. He has also been deeply involved in commercial strategy, working closely with the sales, marketing and product teams to enhance pricing, support key customer programs, negotiate improved commercial terms, and ensure manufacturing and supply capabilities align with market demand. His cross-functional leadership has contributed to stronger execution, improved margins and a more competitive commercial position.

In addition to his financial background, Mr. Hunter also brings broad commercial, operational and general management experience, gained over more than 20 years in cross-functional leadership roles at global Fortune 500 organizations such as Johnson & Johnson and Baxter as well as private equity portfolio companies. With his extensive multidisciplinary experience, spanning finance, sales, marketing and operations, Mr. Hunter is well positioned to advance Medipharm's strategic priorities.

Chris Taves, chair of the board, commented: "On behalf of the board and the entire Medipharm Labs team, I want to thank David for his significant contributions. His leadership played a key role in strengthening Medipharm's financial trajectory and guiding the company through challenging market conditions. We are equally pleased to have a seasoned leader like Greg step into the interim CEO role during this transition, and the board is confident in his ability to drive execution, operational discipline and focused growth in the months ahead."

About Medipharm Labs Corp.

Founded in 2015, Medipharm Labs specializes in the development and manufacture of purified, pharmaceutical-quality cannabis concentrates, active pharmaceutical ingredients (APIs) and advanced derivative products produced in a GMP-certified (good manufacturing practice) facility with ISO-standard (International Organization for Standardization) clean rooms. Medipharm has invested in an expert research-driven team, state-of-the-art technology, advanced purification methodologies and purpose-built facilities to deliver pure, trusted, precision-dosed cannabinoid products for domestic and international markets.

In 2021, Medipharm received a pharmaceutical drug establishment licence from Health Canada, becoming the only company in North America to hold a commercial-scale, domestic GMP licence for the extraction of multiple natural cannabinoids -- marking the first step in the company's continuing U.S. FDA (Food and Drug Administration) site registration.

In 2023, Medipharm acquired Vivo Cannabis, expanding its reach to Canadian medical patients through the Canna Farms e-commerce platform and internationally through Beacon Medical operations in Australia and Germany. The acquisition also added Harvest Medical Clinics in Canada, supporting improved access and education for medical cannabis patients.

Medipharm operates in full compliance with all applicable laws in the jurisdictions in which it conducts business.

We seek Safe Harbor.