An anonymous director reports

THERATECHNOLOGIES ANNOUNCES COMPLETION OF ACQUISITION BY FUTURE PAK

Theratechnologies Inc. has completed the previously announced plan of arrangement under Chapter XVI, Division II, of the Business Corporations Act (Quebec), involving CB Biotechnology LLC (the purchaser), an affiliate of Future Pak LLC, pursuant to which the purchaser has acquired all the issued and outstanding common shares of the company for $3.01 (U.S.) per share in cash plus one contingent value right per share for additional aggregate cash payments of up to $1.19 (U.S.) per CVR if certain milestones are achieved by the company.

Consideration for the shares has been remitted by the purchaser to Computershare Investor Services Inc., as depositary under the arrangement, and will be paid to former shareholders of Theratechnologies as soon as reasonably practicable after the date hereof (or, in the case of registered shareholders, as soon as reasonably practicable after a properly completed and signed letter of transmittal is received by the depositary together with the share certificate(s) and/or direct registration system advice(s) representing shares formerly held by them).

Each CVR is a contractual right that entitles the holder thereof to aggregate payments from the purchaser of up to $1.19 (U.S.) per CVR if certain milestones are achieved by the company, the whole in accordance with the agreement entered into on the day hereof among the purchaser, Future Pak and Computershare Trust Company of Canada as CVR agent. The CVRs are recorded in a register kept by the CVR agent and are not evidenced by a certificate or any other instrument. Based on a report prepared by an independent third party valuator, the company and the purchaser have determined the fair market value of each CVR to be 80 U.S. cents as at Sept. 24, 2025.

As a result of the completion of the arrangement, it is expected that the shares will be delisted from the Toronto Stock Exchange on or about Sept. 26, 2025, and from Nasdaq Capital Market on or about Sept. 25, 2025. The company shall apply to cease to be a reporting issuer under Canadian securities laws in all provinces of Canada. The company will also deregister the shares under the U.S. Securities Exchange Act of 1934, as amended.

Early warning reporting

Immediately prior to the effective date of the arrangement, the purchaser and its affiliates did not own any shares. An early warning report will be filed on SEDAR+ under the company's profile.

About Theratechnologies Inc.

Theratechnologies is a specialty biopharmaceutical company focused on the commercialization of innovative therapies that have the potential to redefine standards of care.

About Future Pak LLC

Founded in 1977 and headquartered in Wixom, Mich., Future Pak, along with its affiliates, is a privately held contract manufacturer, packager and distributor of pharmaceutical and nutraceutical products. Future Pak operates across retail, specialty and institutional markets, leveraging its robust infrastructure and partner network to deliver quality-first, patient-centric solutions.

We seek Safe Harbor.