Ms. Marina Davies reports

NEIGHBOURLY PROVIDES UPDATE ON PROPOSAL FROM PERSISTENCE CAPITAL PARTNERS

Neighbourly Pharmacy Inc. has received from Persistence Capital Partners (PCP) a revised letter of intent pursuant to which PCP or one of its affiliates would purchase all of the issued and outstanding common shares in the capital of the company, other than those common shares owned by PCP or its affiliates, at a purchase price of $18.50 per common share, payable in cash. PCP has indicated that the revised proposal is the purchase price that its equity financing sources support. The revised proposal represents a decrease to the previously proposed purchase price of $20.50 per common share provided for in the letter of intent entered into on Oct. 2, 2023.

The transaction committee of the board of directors of the company, formed to evaluate the original proposal, will now consider the revised proposal, with the assistance of its financial and legal advisers, and conduct all aspects of the company's response to the revised proposal. There is no set timetable with respect to the transaction committee's review of the revised proposal, and the company does not expect to make further public comments regarding these matters unless and until the transaction committee approves a specific action or otherwise concludes its review.

Shareholders of Neighbourly do not need to take any action at this time in respect of the revised proposal and should await further information and guidance from the transaction committee and the board.

Shareholders of the company are cautioned that there is no assurance that a transaction with PCP will occur, whether on the terms of the revised proposal, amended terms or at all.

PCP currently beneficially owns or has control or direction over, directly or indirectly, 22,420,922 common shares, representing approximately 50.2 per cent of the currently issued and outstanding common shares.

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 292 locations, reinforcing the company's reputation as the industry's acquirer of choice.

Advisers

TD Securities is acting as financial adviser and independent valuator to the transaction committee, and McCarthy Tetrault LLP is acting as independent legal adviser to the transaction committee.

We seek Safe Harbor.