Mr. R. Jeffrey White reports

AKUMIN INC. PROVIDES UPDATE ON ITS RESTRUCTURING TRANSACTION

Akumin Inc.'s previously announced restructuring transaction involving Stonepeak as well as its bondholders, lenders, shareholders and other stakeholders under a prepackaged Chapter 11 plan of reorganization is expected to become effective on or around Feb. 6, 2024, subject to satisfaction of all of the remaining conditions to the closing of the restructuring transaction. On the effective date, Stonepeak will become the 100-per-cent owner of Akumin's common shares. As part of the transaction, Akumin's existing common stockholders who are holders of record on the effective date will receive their pro rata share of a total of $25-million (U.S.) in cash, as well as, to the extent those common stockholders satisfy certain eligibility requirements, contingent value rights, in each case, subject to the terms and limitations contained in the prepackaged plan.

Under the prepackaged plan, no shareholder approval is required to facilitate Akumin's restructuring transaction. In anticipation of the effective date and to consummate the restructuring transaction, Akumin has applied to voluntarily delist its common stock from the Toronto Stock Exchange. In accordance with Section 720(b)(ii) of the TSX company manual, the effectiveness of the prepackaged plan will constitute a liquidity event for Akumin's existing common stockholders, and the company expects that all conditions to the effectiveness of the prepackaged plan will be satisfied by the effective date. The common stock of Akumin will be delisted from the Toronto Stock Exchange after market close on Feb. 1, 2024.

Additional information

Additional information regarding the restructuring transaction is available at the Akumin transaction website. Court filings and other information related to the court proceedings are available and administrated by the company's claims agent, Epiq Corporate Restructuring LLC, by calling toll-free 877-589-9709 (or 1-503-966-8627 for calls originating outside of the United States) or by e-mailing akumin@epiqglobal.com.

About Akumin Inc.

Akumin is a national outpatient partner of choice for U.S. hospitals, health systems and physician groups, addressing their outsourced radiology and oncology needs. Akumin provides comprehensive radiology and oncology services and solutions to approximately 1,000 hospitals and health systems across 47 states, and offers fixed-site outpatient diagnostic imaging through a network of owned and/or operated facilities. By combining clinical and operational expertise with the latest advances in technology and informatics, Akumin delivers unparalleled patient experiences and outcomes. Its radiology procedures include MRI, CT, PET, PET/CT, ultrasound, 3-D mammography, X-ray and other interventional procedures. Its oncology services include a full suite of radiation therapy and related offerings.

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