Legal Disclaimer

This website and the materials contained herein are current to May 13, 2025 and may include "forward-looking information" and "forward-looking statements" (collectively, "forward-looking statements") within the meaning of the applicable Canadian securities legislation. All statements, other than statements of historical fact, are forward-looking statements and are based on expectations, estimates and projections as at the date of this news release. Any statement that involves discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions, future events or performance (often but not always using phrases such as "expects", or "does not expect", "is expected", "anticipates" or "does not anticipate", "plans", "budget", "scheduled", "forecasts", "estimates", "believes" or "intends" or variations of such words and phrases or stating that certain actions, events or results "may" or "could", "would", "might" or "will" be taken to occur or be achieved) are not statements of historical fact and may be forward-looking statements. On this website and the materials contained herein, forward-looking statements relate to, among other things, MediPharm Labs Corp.’s (“MediPharm Labs”) strategic direction, performance outlook, plans for growth, expected benefits from acquisitions or initiatives, and value creation objectives. Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable, are subject to known and unknown risks, uncertainties, and other factors which may cause the actual results and future events to differ materially from those expressed or implied by such forward-looking statements. Such factors include, but are not limited to: general business, economic, competitive, political and social uncertainties; the inability of MediPharm to obtain adequate financing; the delay or failure to receive regulatory approvals; and other factors discussed in MediPharm's filings, available on the SEDAR+ website at www.sedarplus.ca. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on the forward-looking statements and information contained in this news release. Except as required by law, MediPharm assumes no obligation to update the forward-looking statements of beliefs, opinions, projections, or other factors, should they change.

Additional risks and uncertainties not presently known to the MediPharm Labs or currently deemed immaterial by MediPharm Labs may also impair the business and operations of MediPharm Labs. Readers should evaluate carefully the risk factors herein associated with MediPharm Labs’ securities, along with the risk factors described below. For further information, refer to MediPharm Labs’ annual information form dated March 30, 2025 for the year ended December 31, 2024 (the “AIF”).

Nothing on this website constitutes an offer to sell or a solicitation to buy any securities. Readers should not place undue reliance on forward-looking statements. The users of this website are urged to review the public record of MediPharm Labs, which can be accessed at www.sedarplus.ca, the Site for Electronic Data Analysis and Retrieval + maintained by the Canadian Securities Administrators (SEDAR+). The materials on this website should be received and considered in conjunction with the documents comprising the MediPharm Labs’ public record as set forth on SEDAR+, including (among others) the audited and unaudited financial statements therein, and the management’s discussion and analysis (“MD&A”) thereof. Except as required by law, MediPharm Labs undertakes no obligation to update any forward-looking statement, whether as a result of new information, future events, or otherwise. No warranties or representations can be made as to the origin, validity, accuracy, completeness, currency or reliability of the information included on this website. MediPharm Labs disclaims and excludes all liability (to the extent permitted by law), for losses, claims, damages, demands, costs and expenses of whatever nature arising in any way out of or in connection with the information on this website and the materials contained herein, its accuracy, completeness or by reason of reliance by any person on any of it.

Certain financial information included on this website and materials provided herein are neither audited nor reviewed. Where possible, the information has been constructed by management from available audited or audit reviewed financial statements. Where no audited or audit reviewed information has been available, additional management accounting information has been utilized to construct financial information. Financial statements have not been prepared in accordance with the same standards. Readers are cautioned not to place undue reliance on such information.

This website and the materials referenced herein contain certain financial performance measures (“Non-IFRS Measures”) that are not recognized or defined under international financial reporting standards (“IFRS”), including references to “Adjusted EBITDA”. Management believes that these supplementary Non-IFRS Measures provide useful additional information related to the operating results of MediPharm Labs. Non-IFRS Measures are not recognized under IFRS and, accordingly, users are cautioned that these measures should not be construed as an alternative. For example, Adjusted EBITDA is not directly comparable to net income (loss) and gross profit determined in accordance with IFRS as measures of profitability or as alternatives to MediPharm Labs’ IFRS-based financial statements. The Non-IFRS Measures presented may not be comparable to similar measures presented by other issuers. Adjusted EBITDA is a measure of MediPharm Labs’ overall financial performance and is used as an alternative to earnings or income in some circumstances. Adjusted EBITDA is essentially net income (loss) with interest, taxes, depreciation and amortization, non-cash adjustments and other unusual or non-recurring items added back. Adjusted EBITDA has limitations as an analytical tool as it does not include depreciation and amortization expense, interest income and expense, finance fees, gain in revaluation of derivative liabilities, taxes, government grants including rent and wage subsidies, one-off transactions, impairment losses on inventory and on fixed assets and intangibles, write down of deposits and share-based compensation. Because of these limitations, Adjusted EBITDA should not be considered as the sole measure of MediPharm Labs’ performance and should not be considered in isolation from, or as a substitute for, analysis of MediPharm Labs’ results as reported under IFRS. Adjusted EBITDA, as used within MediPharm Labs’ disclosure, may not be directly comparable to Adjusted EBITDA used by other reporting issuers. Adjusted EBITDA does not have a standardized meaning and MediPharm Labs’ method of calculating such Non-IFRS Measure may not be comparable to calculations used by other companies bearing the same description.

There are a number of risk factors that could cause future results to differ materially from those described herein. A discussion of the principal risk factors relating to the MediPharm Labs’ operations and business, appear in its most recently-filed MD&A and AIF, both of which are publicly available on its profile on www.sedarplus.ca. Additional risks and uncertainties, including risks related to potential acquisitions, and those that MediPharm Labs does not know about now or that it currently deems immaterial, may also adversely affect MediPharm Lab’s business or any investment therein.