Mr. Alan Simpson reports

PHARMACORP ANNOUNCES DEFINITIVE AGREEMENT TO ACQUIRE PHARMACHOICE CANADA BANNERED PHARMACY IN ONTARIO

Pharmacorp Rx Inc. has entered into a definitive share purchase agreement, dated May 22, 2026, to acquire from an arm's-length vendor group a 100-per-cent interest in a PharmaChoice Canada bannered pharmacy located in Morrisburg, Ont. The acquisition continues the expansion of the corporation's geographical footprint and operating scale. Further to PharmaCorp's acquisition pipeline update announced in its news release dated April 30, 2026, in which the corporation disclosed having executed non-binding LOIs, dated Feb. 23, 2026, Feb. 27, 2026, March 3, 2026, and March 23, 2026, respectively, in respect of four additional pharmacy acquisitions (LOIs), this acquisition represents the first conversion of those LOIs into a definitive share purchase agreement.

Upon completion, the acquisition is expected to increase Pharmacorp's store count to 15, including the eight PharmaChoice Canada bannered pharmacies in Eastern Canada, previously announced on April 30, 2026.

Acquisition

"This acquisition reflects the continued execution of our disciplined acquisition strategy," said Alan Simpson, executive chair of Pharmacorp. "Importantly, the transaction is consistent with our acquisition framework and demonstrates our ability to convert previously disclosed letters of intent into definitive agreements while maintaining capital allocation discipline and acquisition parameters. Maintaining disciplined acquisition multiples and thoughtful capital deployment remains central to our growth strategy."

The aggregate purchase price for the acquisition is approximately $8.2-million, subject to customary adjustments, and is expected to be funded using the corporation's existing cash resources. The acquisition is consistent with Pharmacorp's acquisition framework and broader capital allocation strategy, including its disciplined approach to acquisition multiples and accretive growth.

The pharmacy will continue to be operated by its existing managing pharmacist during the transition period, supporting continuity of care, preserving patient relationships and facilitating integration into the Pharmacorp platform.

The purchase price is consistent with Pharmacorp's acquisition framework and in line with the corporation's multiple acquisition parameters, supporting accretion on invested capital.

The acquisition is expected to close within approximately 60 days, subject to customary closing conditions, including approval of the acquisition by the Ontario College of Pharmacists. No finders' fees are payable in respect of the acquisition.

About Pharmacorp Rx Inc.

Pharmacorp is a Canadian pharmacy acquisition and ownership platform focused on empowering pharmacists as equity partners and supporting succession for retiring pharmacy owners. Through a combination of capital, strategic support, and operational expertise, Pharmacorp is building a national network of community pharmacies under the PharmaChoice Canada banner. Pharmacorp currently operates six PharmaChoice Canada bannered pharmacies, and will continue to acquire both PharmaChoice Canada bannered and independent pharmacies across Canada, rebranding non-bannered locations under the PharmaChoice Canada platform in accordance with its partnership with PharmaChoice Canada. Pharmacorp shares trade on the TSX Venture Exchange under the symbol PCRX.

Pharmacorp actively welcomes discussions with pharmacy owners considering succession or sale. For more information about Pharmacorp's acquisition program and process, please visit the company's or contact its team confidentially. Pharmacorp is committed to seamless transitions that protect your legacy and serve your community.

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