Mr. Gregory Crawford reports

QUIPT HOME MEDICAL ANNOUNCES TERMINATION OF AT-THE-MARKET EQUITY PROGRAM

Quipt Home Medical Corp. has terminated its previously announced at-the-market (ATM) equity program put in place pursuant to an equity distribution agreement dated May 15, 2023, by and among the company, Canaccord Genuity and Beacon Securities Ltd. The company has not made use of this ATM and has elected to terminate the ATM as a result of market conditions, and to limit uncertainty and unfavourable dilution for its shareholders during this period of global market uncertainty.

Greg Crawford, the company's chief executive officer, commented: "Given our robust balance sheet with modest leverage, strong operating cash flow generation and track record of careful capital deployment with a focus on enhancing long-term shareholder value, we opted to discontinue the ATM program to limit uncertainty and potential unfavourable dilution for our shareholders," said Mr. Crawford, chief executive officer and chairman of Quipt. "On the heels of our exceptional fiscal Q2 2023 financial results, the installation of the ATM was done to economically diversify our potential sources of capital to fund our long-term acquisition strategy focused on accretive acquisition opportunities. As we previously announced, the company had no current intention of making use of the ATM given the significant liquidity profile we have, and believed it was a prudent tool to have in place for the future, if such a time arose where it made sense. Given the response from shareholders, and significant disconnect between our valuation and fundamentals of the business, as well as the fact that the company does not require the ATM for capital, we have come to the conclusion that the ATM program is not appropriate for the company and have made the decision to immediately terminate it. The conversations that we have had with many of our shareholders have been incredibly constructive, and the termination shows our willingness to consider our shareholders' concerns and act accordingly. Our business continues to perform very strongly, and we are committed to executing on our long-term strategic growth strategy with the ample liquidity access we have."

About Quipt Home Medical Corp.

The company provides in-home monitoring and disease management services, including end-to-end respiratory solutions, for patients in the United States health care market. It seeks to continue to expand its offerings to include the management of several chronic disease states, focusing on patients with heart or pulmonary disease, sleep disorders, reduced mobility and other chronic health conditions. The primary business objective of the company is to create shareholder value by offering a broader range of services to patients in need of in-home monitoring and chronic disease management. The company's organic growth strategy is to increase annual revenue per patient by offering multiple services to the same patient, consolidating the patient's services and making life easier for the patient.

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