Mr. Keith Strachan reports

MEDIPHARM LABS APPOINTS GREG HUNTER AS CHIEF EXECUTIVE OFFICER AND DIRECTOR

Medipharm Labs Corp.'s board of directors has appointed Greg Hunter as chief executive officer and as a member of the board of directors, effective Nov. 4, 2026. Mr. Hunter has served as interim chief executive officer since January, 2026, while continuing to serve as the company's chief financial officer. He will continue to serve as chief financial officer until a successor chief financial officer is appointed and an orderly transition has been completed.

Mr. Hunter's appointment follows his service as interim chief executive officer since January, 2026, and reflects the board's confidence in his leadership and deep understanding of the company's business.

"Following a thorough evaluation process, the board concluded that Mr. Hunter is well positioned to lead Medipharm into its next phase. Since assuming the interim CEO role, he has demonstrated strong leadership, disciplined execution and a clear vision for the company's long-term success," said Keith Strachan, chair of the board of directors of Medipharm Labs. "Greg has played an important role in strengthening Medipharm's financial foundation, improving operational performance and advancing our commercial strategy. He has the full confidence of the board, and we look forward to working closely with Greg as we continue to build on the significant progress achieved over the last several years."

Mr. Hunter joined Medipharm as chief financial officer in February, 2021, and has played a key leadership role in the company's development, with responsibilities spanning commercial execution, operational efficiency, financial discipline, and mergers and acquisitions, while also supporting the expansion of the company's domestic and international operations. As interim chief executive officer, he has worked closely with the leadership team to advance the company's strategic priorities and strengthen execution across the organization.

Prior to joining Medipharm, Mr. Hunter held senior leadership positions with both public and private companies across finance, commercial, operational and general management functions. He brings more than 20 years of experience across health care, manufacturing and consumer businesses, including leadership roles with global organizations such as Johnson & Johnson and Baxter.

"I am honoured by the board's confidence and excited to lead Medipharm as chief executive officer and to join the board of Directors," said Mr. Hunter, chief executive officer of Medipharm Labs. "Over the past several years, our team has worked hard to strengthen the business, enhance our capabilities and position Medipharm for sustainable long-term success. Today, we have a strong foundation, a highly talented team, differentiated pharmaceutical and cannabinoid capabilities, and a growing presence in domestic and international markets.

"I want to thank our employees for their commitment and dedication, our customers and partners for their continued support, and our shareholders for their confidence in our strategy. I am excited about the opportunities ahead and look forward to continuing to execute our plan to drive profitable growth, operational excellence and long-term value creation," added Mr. Hunter.

About Medipharm Labs Corp.

Founded in 2015, Medipharm Labs specializes in the development and manufacture of purified, pharmaceutical-quality cannabis concentrates, active pharmaceutical ingredients and advanced derivative products utilizing a good manufacturing practice certified facility with ISO-standard-built clean rooms. Medipharm Labs has invested in an expert, research-driven team, state-of-the-art technology, downstream purification methodologies and purpose-built facilities for delivery of pure, trusted and precision-dosed cannabis products for its customers. Medipharm Labs develops, formulates, processes, packages and distributes cannabis and advanced cannabinoid-based products to domestic and international medical markets.

In 2021, Medipharm Labs received a pharmaceutical drug establishment licence from Health Canada, becoming the only company in North America to hold a commercial-scale domestic good manufacturing practices licence for the extraction of multiple natural cannabinoids. This GMP licence was the first step in the company's current foreign drug manufacturing site registration with the U.S. Food and Drug Administration. Medipharm also has European Union GMP certification, Anvisa GMP certification from Brazil and TGA compliance in Australia.

In 2023, Medipharm acquired Vivo Cannabis Inc., which expanded Medipharm's reach to medical patients in Canada through the Canna Farms medical e-commerce platform and in Australia and Germany through Beacon Medical Pty. Ltd. and Beacon Medical GmbH. The acquisition also included Harvest Medical Clinics in Canada, which provides medical cannabis patients with physician consultations, education and prescriptions.

The company carries out its operations in compliance with all applicable laws in the countries in which it operates.

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