Mr. J. Bradley Green reports

PARK LAWN SOLIDIFIES ITS PRESENCE ON THE COLORADO WESTERN SLOPE

Park Lawn Corp. has completed the acquisition of substantially all of the assets of Crippin Funeral Home located in Montrose, Colo.; Gunnison Funeral Services located in Gunnison, Colo.; and Grand View Cemetery located in Montrose, Colo. The Crippin acquisition deepens Park Lawn's footprint in the Colorado market through the addition of two stand-alone funeral homes, as well as one stand-alone cemetery.

"For 37 years, the Crippin businesses have proudly served Montrose and its surrounding communities. We take great pride in our ability to provide excellent professional service and guidance to our families at their time of need, and are excited to partner with Park Lawn to continue this tradition," said Kelly and Gregory Crippin, former owners of Crippin.

"We are delighted to further expand our operating presence in the state of Colorado through the strategic acquisition of the Crippin businesses," said J. Bradley Green, chief executive officer of Park Lawn.

Mr. Green continued, "These outstanding businesses will be an excellent addition to our existing portfolio of high-quality businesses in Colorado, and we are honoured to welcome the Crippin businesses and their teams into the Park Lawn family."

Highlights of the transaction include:

• The addition of two stand-alone funeral homes and one stand-alone cemetery;
• The transaction represents approximately 576 calls per year and approximately 85 placements 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 Crippin acquisition is expected to add approximately $703,404 (U.S.) in adjusted 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 is the largest publicly traded Canadian-owned funeral, cremation and cemetery provider. Park Lawn and its subsidiaries own and operate businesses including cemeteries, crematoria, funeral homes, chapels and event centres throughout Canada and the United States, which provide a full range of services and merchandise to fulfill the desires of individuals and families seeking to honour their loved ones. Products and services can be customized to meet the personal needs of the consumer, and are sold on a preplanned basis (preneed) or at the time of a death (at need). Park Lawn operates in three Canadian provinces and 17 U.S. states.

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