Mr. Bill Zhang reports

DRI HEALTHCARE ANNOUNCES US$316 MILLION PURCHASE OF TAVAPADON ROYALTY

DRI Healthcare Trust has entered into purchase agreements to acquire certain royalty participation rights in U.S. net sales of tavapadon from funds managed by Bain Capital and NovaQuest Capital Management. The transaction is expected to close following approval of tavapadon by the U.S. Food and Drug Administration (FDA) and the satisfaction of other customary closing conditions.

Tavapadon, an investigational Parkinson's disease drug candidate, is a novel selective D1/D5 receptor partial agonist that was studied as a once-daily oral medicine for Parkinson's disease for use both with and without levodopa. Tavapadon has been submitted to the FDA for approval and approval is expected in Q3 (third quarter) 2026.

Transaction terms

Under the terms of the purchase agreements, DRI Healthcare will pay an aggregate purchase price of $316-million (U.S.) at closing. Closing is subject to FDA approval of tavapadon and the satisfaction of other customary closing conditions.

Following closing, DRI Healthcare will be entitled to receive tiered royalty payments on annual U.S. net sales of tavapadon, at combined tiered, mid-single-digit to low-double-digit royalty rates. DRI Healthcare will also be entitled to receive certain sales milestone payments upon first reaching certain cumulative U.S. net sales thresholds and four annual fixed payments of $23.4-million (U.S.) on the first four anniversaries of FDA approval of Tavapadon. Aggregate receipts are subject to a contractual hard cap of $437.5-million (U.S.).

"This transaction will add a differentiated in-market asset to our portfolio with a combination of fixed payments, commercial milestones and tiered royalties," said Ali Hedayat, chief executive officer of DRI Healthcare. "The acquisition will provide meaningful value to unitholders both through its stand-alone returns and by allowing us to optimize our balance sheet capacity. We believe the transaction allows us to achieve our aspirational 2030 adjusted EBITDA goals in the absence of any further acquisitions over that horizon while still leaving us with ample capacity to grow beyond those levels."

"We believe tavapadon's novel mechanism (selective dopamine D1/D5 receptor partial agonist) and clinical profile coupled with high unmet medical need in Parkinson's disease support a compelling investment for unitholders," said Navin Jacob, chief investment officer of DRI Healthcare. "We thank Bain and NovaQuest for their collaboration on this transaction and look forward to participating in tavapadon's future success."

Conference call information

DRI Healthcare will host a conference call and webcast to discuss the transaction on Monday, Sept. 21, 2026, at 8 a.m. ET. All interested parties may join the conference call by dialling 1-888-699-1199 or 416-945-7677 approximately 15 minutes prior to the call to secure a line.

A live webcast of the conference call, including a slide presentation, will be available. Please connect at least 15 minutes prior to the conference call to ensure adequate time for any software download that may be required to join the webcast. The webcast will be archived on DRI Healthcare's website following the conference call date.

About Parkinson's disease

Parkinson's disease (PD) is a progressive neurological and chronic neurological disorder affecting more than 10 million people globally. It is caused by the loss of dopamine-producing neurons in a region of the brain called the substantia nigra. By the time motor symptoms become apparent, 60 to 80 per cent of those neurons have already been lost. PD presents with both motor and non-motor symptoms. Motor symptoms include tremor, limb rigidity, slowness of movement, and problems with balance and gait. Non-motor symptoms, which patients often find equally debilitating, include depression, anxiety, sleep disorders, cognitive changes and loss of smell. Symptoms progress at different rates and vary from person to person. There is no cure, and while treatments can improve quality of life, none has been shown to slow or halt disease progression.

Advisers

Cravath, Swaine & Moore LLP acted as lead transaction counsel to DRI Healthcare.

About DRI Healthcare Trust

DRI Healthcare is a pioneer in global pharmaceutical royalty monetization. Since its founding in 1989, DRI Healthcare has deployed more than $3.0-billion, acquiring more than 75 royalties on 50-plus drugs, including Eylea, Keytruda, Lumvoa, Orserdu, Remicade, Spinraza, Stelara, Vonjo and Zytiga. DRI Healthcare's units are listed and trade on the Toronto Stock Exchange in Canadian dollars under the symbol DHT.UN and in U.S. dollars under the symbol DHT.U.

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