File: Attachment Future Pak - Early Warning News Release.pdf

EARLY WARNING REPORT ISSUED PURSUANT TO NATIONAL INSTRUMENT 62-103

September 30, 2025

Montreal, Quebec This press release is being issued in connection with the filing of an early warning report (the "Early Warning Report") pursuant to the requirements of National Instrument 62-103 The Early Warning System and Related Take-Over Bid and Insider Reporting Issues regarding the acquisition of securities of Theratechnologies Inc. (the "Issuer") by CB Biotechnology, LLC ("CB"), a limited liability company owned and controlled by Future Pak, LLC (the "Acquiror"). The Acquiror is located at CB Biotechnology, LLC c/o Honigman LLP, 2290 First National Building, Woodward Avenue, Detroit, MI 48226.

On September 25, 2025, the Issuer, the Acquiror and CB completed a plan of arrangement under the Business Corporations Act (Quebec) (the "Arrangement") pursuant to an arrangement agreement dated July 2, 2025. Pursuant to the terms of the Arrangement, the Acquiror, indirectly through CB, acquired all of the issued and outstanding common shares of the Issuer (the "Shares") from shareholders of the Issuer for US$3.01 per Share in cash plus one contingent value right ("CVR") per Share for additional aggregate cash payments of up to US$1.19 per CVR if certain milestones are achieved by the Issuer. Each CVR is a contractual right that entitles the holder thereof to aggregate payments from CB of up to US$1.19 per CVR if certain milestones are achieved by CB, the whole in accordance with the agreement entered into on the day hereof among CB, the Acquiror and Computershare Trust Company of Canada as CVR agent. Based on a report prepared by an independent third-party valuator, the Issuer and CB have determined the fair market value of each CVR to be US$0.80 as at September 24, 2025.

Immediately prior to giving effect to the Arrangement, the Acquiror did not own or control any Shares. After giving effect to the Arrangement, the Acquiror owns or controls an aggregate of 45,980,019 Shares, which represents 100% of the issued and outstanding Shares.

For further information, or to obtain a copy of the Early Warning Report filed under applicable securities laws, please contact:

CB Biotechnology, LLC c/o Honigman LLP 2290 First National Building Woodward Avenue, Detroit, MI 48226. Email: media@futurepak.com

This early warning news release is issued under the early warning provisions of Canadian securities legislation, including National Instrument 62-104 Take-Over Bids and Issuer Bids and National Instrument 62-103 The Early Warning System and Related Take-Over Bid and Insider Reporting Issues