Mr. Daniel Millett reports

PARK LAWN INCREASES ITS PRESENCE IN THE SIOUX CITY METROPOLITAN AREA

Park Lawn Corp. has entered into a definitive agreement to acquire substantially all the assets of Christy-Smith Funeral Homes located in Sioux City, Iowa. The Christy-Smith acquisition expands Park Lawn's footprint in the Sioux City, Iowa, metropolitan market through the addition of two stand-alone funeral homes and is anticipated to close in mid-October, 2023, following the receipt of regulatory approval.

"We are excited for the opportunity to further expand our operating position in the Sioux City metropolitan area through the strategic acquisition of Christy-Smith," said J. Bradley Green, chief executive officer of Park Lawn. Mr. Green continued: "These businesses will complement our recent Meyer Brothers acquisition and further our operational synergies in the market. We look forward to welcoming the Christy-Smith team into the Park Lawn family."

Highlights of the transaction include:

• The addition of two stand-alone funeral homes;
• The transaction represents 217 calls per year and is expected to be financed with funds from Park Lawn's credit facility and available cash on hand;
• Following the closing and integration of the transaction, the Christy-Smith acquisition is expected to add approximately $437,391 (U.S.) in adjusted EBITDA (earnings before interest, taxes, depreciation and amortization) annually;
• 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 for the transaction is within Park Lawn's publicly stated targeted adjusted EBITDA multiple range for its historical transactions.

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.

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