Mr. Daniel Millett reports

PARK LAWN CORPORATION CONTINUES ITS ONTARIO EXPANSION

Park Lawn Corp. has acquired the assets of Forrest & Taylor Funeral Home Ltd., a stand-alone funeral home business in Sutton, Ont.

"Since Forrest & Taylor began in the late 1880s, we have had the privilege of serving the families of Sutton and its surrounding communities. Through our partnership with Park Lawn, we are excited to be able to continue providing an unparalleled level of service with the tradition that began over a century ago," said Greg Forrest and Carole Forrest, former owners of Forrest & Taylor.

J. Bradley Green, chief executive officer of Park Lawn, stated, "We are pleased to continue building our strong operating position in the growing market north of Toronto through the acquisition of Forrest & Taylor, and we look forward to welcoming the Forrest & Taylor team into the Park Lawn family."

Highlights of the transaction include:

• Park Lawn further deepening its presence in Ontario by adding one stand-alone funeral home in Sutton, Ontario;
• Forrest & Taylor performs approximately 158 calls per year, and was financed with cash on hand and funds from Park Lawn's credit facility;
• The Forrest & Taylor acquisition is expected to add approximately $338,647 (Canadian) in adjusted EBITDA (earnings before interest, taxes, depreciation and amortization) annually (1);
• For the 12 months ended Dec. 31, 2022, Park Lawn had adjusted EBITDA of $74,948,868 (U.S.) and net earnings of $25,124,765 (U.S.);
• The agreed-upon purchase price multiple is within Park Lawn's publicly stated targeted EBITDA multiple range for transactions of this nature.

(1) Adjusted EBITDA is a non-IFRS (international financial reporting standards) financial measure. Refer to the non-IFRS financial measures section of this news release for more information on this non-IFRS financial measure.

About Park Lawn Corp.

Park Lawn provides goods and services associated with the disposition and memorialization of human remains. Products and services are sold on a preplanned basis (preneed) or at the time of a death (at need). Park Lawn and its subsidiaries own and operate businesses, including cemeteries, crematoria, funeral homes, chapels, planning offices and a transfer service. Park Lawn operates in three Canadian provinces and 19 U.S. states.

Non-IFRS

Adjusted EBITDA is not a measure recognized under IFRS and does not have a standardized meaning prescribed by IFRS. Such measure is presented in this news release because management of Park Lawn believes that such measure is relevant in evaluating Park Lawn's acquisition of Forrest & Taylor. Such measure, as computed by Park Lawn, may differ from similar computations as reported by other similar organizations and, accordingly, may not be comparable with similar measures reported by such other organizations. Please refer to pages 8, 9 and 21 of Park Lawn's management's discussion and analysis for the year ending Dec. 31, 2022, which was filed on SEDAR on March 2, 2023, for how Park Lawn reconciles adjusted EBITDA to the nearest IFRS measure.

We seek Safe Harbor.