Mr. Skip Bourdo reports

NEIGHBOURLY ANNOUNCES AGREEMENT TO ACQUIRE THREE PHARMACIES IN ONTARIO

Neighbourly Pharmacy Inc. has entered into a binding agreement to acquire three pharmacies in Ontario from a single seller.

"This acquisition represents the ongoing execution of our strategy, strengthening our position across communities in Ontario," stated Skip Bourdo, the company's chief executive officer. "These locations are important health care providers within their respective communities, and we look forward to welcoming them to the Neighbourly family."

Neighbourly estimates that the three acquired locations will generate total annualized adjusted EBITDA (earnings before interest, taxes, depreciation and amortization) of approximately $1.6-million, based upon its most recently completed fiscal years and the implementation of synergies upon integration.

The total purchase price for the acquisition and its valuation are consistent with the company's historical acquisition multiples for transactions of this size. The acquisition will be financed from cash on hand and drawings on the company's credit facility and is expected to close by the end of June, 2023, pending customary regulatory approvals and the satisfaction of customary closing conditions.

Upon completion of the acquisition, Neighbourly's network will comprise a total of 287 locations across Canada.

About Neighbourly Pharmacy Inc.

Neighbourly is Canada's largest and fastest-growing network of community pharmacies. United by their patient-first focus and their role as essential and trusted health care hubs within their communities, Neighbourly's pharmacies strive to provide accessible health care with a personal touch. Since 2015, Neighbourly has expanded its diversified national footprint to include 287 locations, reinforcing the company's reputation as the industry's acquirer of choice.

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