Mr. Skip Bourdo reports

NEIGHBOURLY ANNOUNCES SUCCESSFUL CLOSING OF TAKE-PRIVATE TRANSACTION WITH PERSISTENCE CAPITAL PARTNERS

Neighbourly Pharmacy Inc. has closed the previously announced plan of arrangement to be taken private by Persistence Capital Partners (PCP).

"Today's announcement marks an important milestone for Neighbourly. We are excited for a bright future as a private company," said Skip Bourdo, chief executive officer of Neighbourly. "This going-private transaction provides us with increased flexibility to pursue our growth initiatives, invest in innovation and drive operational excellence. We are focused on continuing to grow our network of pharmacies and serve more communities across Canada."

"I would like to express my gratitude to our shareholders for their overwhelming support throughout this journey. We are excited about continuing to work closely with Neighbourly to accelerate its growth and achieve its strategic vision -- to advance the role that independent pharmacies can play across Canada, creating value for customers, patients, employees and partners," said Stuart M. Elman, managing partner of PCP.

"Brookfield is pleased to provide flexible and strategic capital to Neighbourly and PCP. We look forward to partnering with the company as it continues to grow and deliver high-quality health care services to Canadian communities," commented Michael Horowitz, managing director, Brookfield and Brookfield Special Investments (BSI).

The transaction received overwhelming support from the company's shareholders at a special meeting held on March 8, 2024, and the transaction received final court approval on March 13, 2024.

As a result of the transaction, the common shares are expected to be delisted from the Toronto Stock Exchange (TSX) at the close of trading on or about March 21, 2024. The company has submitted an application to cease to be a reporting issuer under applicable Canadian securities laws and to otherwise terminate the company's public reporting requirements.

Advisers

Scotiabank and RBC Capital Markets acted as financial advisers to PCP, and Stikeman Elliott LLP acted as legal adviser to PCP. Devon Park Advisors provided strategic advisory and capital raising services to PCP.

TD Securities acted as financial adviser and independent valuator to the transaction committee of the company, and McCarthy Tetrault LLP acted as independent legal adviser to the transaction committee of the company.

Goodmans LLP acted as legal adviser to BSI.

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

We seek Safe Harbor.