Toronto, Ontario--(Newsfile Corp. - August 15, 2026) - Richards Group Inc. (TSX: RIC) (the "Company") today announced that its Board of Directors (the "Board"), on the recommendation of the Audit Committee, has approved the appointment of Ernst & Young LLP, Chartered Professional Accountants ("Successor Auditor") as the Company's auditor, replacing PricewaterhouseCoopers LLP ("Former Auditor"), effective August 10, 2026. The change followed a review of the Company's external audit requirements by the Audit Committee and was approved by the Board. The Company confirms that there were no reservations or modified opinions contained in Former Auditor's audit reports on the Company's financial statements for the two most recently completed financial years and further confirms that there were no "reportable events," as that term is defined in National Instrument 51-102 - Continuous Disclosure Obligations ("NI 51-102"), between the Company and Former Auditor. The Company has filed a Notice of Change of Auditor pursuant to NI 51-102 on SEDAR+ together with the required letters from PricewaterhouseCoopers LLP and Ernst & Young LLP.

"We thank PricewaterhouseCoopers LLP for its service to the Company and look forward to working with Ernst & Young LLP as we continue to strengthen our financial reporting and governance processes," said Enzio Di Gennaro, CFO.

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About Richards Group Inc.

Founded in 1912 and headquartered in Mississauga, Ontario, Canada, Richards Group operates across two core segments, Healthcare and Packaging, serving a global customer base with market leading medical devices, supplies, and equipment, as well as a diverse offering of glass and plastic packaging solutions. Richards is the largest Canadian distributor in aesthetic, pharmacy, and vision care devices, the third largest in Canadian packaging, and is newly developing a medical device global OEM footprint. The company differentiates itself through product innovation, high touch service, and deep industry expertise. For more information, visit richardsgroup.com.

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