Mr. Alan Simpson reports

PHARMACORP TO ACQUIRE EIGHT PHARMACIES AND PROVIDES ACQUISITION PIPELINE UPDATE

Pharmacorp Rx Inc. has entered into definitive share purchase agreements, each dated April 28, 2026, to acquire from two arm's-length vendor groups a 100-per-cent interest in eight Pharmachoice Canada bannered pharmacies located in Eastern Canada, representing a meaningful expansion of the corporation's geographical footprint and operating scale.

In addition, the corporation has also entered into non-binding letters of intent in respect of four additional pharmacy acquisitions.

Acquisitions

"The acquisitions reflect the continued execution of our acquisition strategy and the strength of our sourcing network," said Alan Simpson, executive chairman. "The clustering of these locations within a key urban market, combined with the continuity of experienced managing pharmacists, positions us to integrate efficiently while maintaining strong local relationships and operating performance. We are seeing an increasing number of acquisition opportunities where we are engaged early in the process, allowing us to selectively pursue acquisitions that align with our disciplined approach to valuation, integration and long-term value creation."

The aggregate purchase price for the acquisitions is approximately $24.2-million, subject to customary adjustments, and is expected to be financed using the corporation's existing cash resources. The eight pharmacies represent a meaningful expansion of Pharmacorp's footprint in Eastern Canada, with a clustered group of locations in a major urban market. Six of the eight locations are situated within a 15-kilometre radius of a primary urban centre, supporting increased market density, operational efficiencies and procurement leverage. The remaining two locations serve rural communities, further diversifying the corporation's regional footprint.

All locations will continue to be operated by their existing managing pharmacists, ensuring continuity of care, preserving patient relationships, and supporting a seamless transition and integration into the Pharmacorp platform.

The purchase price is consistent with Pharmacorp's acquisition framework and in line with the corporation's multiple acquisition guidelines, supporting accretion on invested capital.

The acquisitions are expected to increase Pharmacorp's store count from six to 14 locations, reflecting the planned integration of the two Western Canadian locations acquired on Oct. 1, 2025.

The acquisitions are expected to close within 60 days, subject to customary closing conditions. No finders' fees are payable in respect of the acquisitions.

Acquisition pipeline update

In addition to the acquisitions, the corporation has executed non-binding letters of intent, dated Feb. 23, 2026, Feb. 27, 2026, March 3, 2026, and March 23, 2026, respectively, in respect of four additional pharmacy acquisitions, which are currently progressing through due diligence. If completed, these proposed acquisitions are expected to close over the next two quarters, subject to customary conditions.

Pharmacorp expects to complete the proposed LOI acquisitions using existing capital resources while continuing to evaluate additional capital opportunities to support its growth strategy as its acquisition pipeline expands.

Completion of each of the proposed LOI acquisitions is subject to the execution of a definitive agreement, which will include the final agreed-upon terms and conditions of each proposed LOI acquisition, including such terms, representations, warranties, indemnities and covenants as are customary in transactions similar to the proposed LOI acquisitions, and the satisfaction of customary conditions, including satisfactory due diligence. There can be no assurance that the proposed LOI acquisitions will be completed as proposed or at all.

The proposed LOI acquisitions reflect continued sourcing momentum through Pharmacorp's network and expanding acquisition pipeline, are consistent with the corporation's disciplined approach to accretive growth, targeting independent pharmacy assets aligned with its operating model and integration capabilities, and are expected to support earnings before interest, taxes, depreciation and amortization growth through operational efficiencies, centralized systems and procurement leverage.

There can be no assurance that any of the proposed LOI acquisitions will result in completed transactions. Pharmacorp intends to provide further updates on the proposed LOI acquisitions as they progress and, where applicable, if definitive agreements are executed.

About Pharmacorp Rx Inc.

Pharmacorp is a Canadian pharmacy acquisition and ownership platform focused on empowering pharmacists as equity partners and supporting succession for retiring pharmacy owners. Through a combination of capital, strategic support and operational expertise, Pharmacorp is building a national network of community pharmacies under the Pharmachoice Canada banner. Pharmacorp currently operates six Pharmachoice Canada bannered pharmacies, reflecting the planned integration of the two Western Canadian locations acquired on Oct. 1, 2025, and will continue to acquire both Pharmachoice Canada bannered and independent pharmacies across Canada, rebranding non-bannered locations under the Pharmachoice Canada platform in accordance with its strategic alliance with Pharmachoice Canada. Pharmacorp shares trade on the TSX Venture Exchange under the symbol PCRX.

Pharmacorp actively welcomes discussions with pharmacy owners considering succession or sale. It is committed to seamless transitions that protect your legacy and serve your community.

We seek Safe Harbor.