An anonymous director reports

COMPLETE BOARD CHANGE IS URGENTLY NEEDED AT MEDIPHARM LABS! APOLLO TECHNOLOGY CAPITAL CORPORATION FILES AMENDED AND RESTATED PROXY CIRCULAR DETAILING PROLONGED UNDERPERFORMANCE, STRATEGIC FAILURES, EXCESSIVE EXECUTIVE COMPENSATION, AND TROUBLING

Apollo Technology Capital Corp., which, together with its affiliates and associates collectively, is one of the largest shareholders of Medipharm Labs Corp., owning approximately 3.0 per cent of the company's common stock, has filed an amended and restated information circular in connection with its intention to nominate six highly qualified director candidates to Medipharm's board of directors at the company's coming 2025 annual and special meeting of shareholders to be held on June 16, 2025.

Additionally, Apollo Capital launched a campaign website where shareholders can review the facts, understand what is at stake and learn how to protect the value of their investment. The website details Apollo Capital's five-pillar plan to restore value to Medipharm Labs, as well as specific actions that the nominees would take in their first 100 days of service on the board. The five-pillar plan includes:

1. Replace failed leadership with aligned executives;
2. Implement financial discipline and strategic review;
3. Retain strategic assets for long-term shareholder value;
4. Unlock international medical growth;
5. Restore trust through transparency and good governance.

The circular and website present a clear and compelling case regarding Medipharm Labs' severe underperformance, reckless strategic missteps and alarming destruction of shareholder value, which have placed the company in serious jeopardy while the management team receives exorbitant pay packages. These failures have cost shareholders $1-billion and reduced the company's cash position to just $8-million as of March 31, 2025 -- on pace to reach zero by November, 2025.

The circular and website provide information about Apollo Capital's nominees -- John Fowler, Alan D. Lewis, David Lontini, Demetrios Mallios, Regan McGee and Scott Walters -- who are accomplished business leaders committed to openness and transparency in their dialogue with Medipharm Labs shareholders. In particular, they are prepared to answer any questions or address any concerns shareholders might have -- even if they are difficult. This is a stark contrast to Medipharm Lab's current board and management, which have avoided answering for their failures, including not holding a shareholder call for three quarters and not answering any of the questions Apollo put forth before the first quarter 2025 financial results call.

Apollo Capital believes that a wholesale board change at Medipharm Labs is the only path forward and that shareholders must act now before it is too late.

Shareholders can also sign up for important campaign updates.

To access Apollo Capital's circular and related proxy materials, including a proxy or voting instruction form, visit SEDAR+.

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