Park Lawn Continues Western Expansion

TORONTO, ON / ACCESSWIRE / November 14, 2022 / Park Lawn Corporation (TSX:PLC)(TSX:PLC.U) ("Park Lawn" or "PLC") is pleased to announce that it has entered into a definitive agreement to acquire substantially all of the assets of Schrader, Aragon & Jacoby Funeral Home, Mountain View Memorial Park and Bustard & Jacoby Funerals, Cremation, Monuments and Receptions (collectively "Jacoby") consisting of two stand-alone funeral homes and one stand-alone cemetery located in Cheyenne and Casper, Wyoming. The Jacoby transaction is anticipated to close in mid-December 2022 following the receipt of regulatory approval.

"We are excited to continue our strategic growth in the west by entering into a new market in southeast Wyoming with the Jacoby businesses," said J. Bradley Green, Chief Executive Officer of PLC. Mr. Green continued, "These businesses are a natural extension of our already existing presence in Colorado and, with roughly 90 years of service in their respective communities, these best in class businesses have established and renowned reputations. We are honored to have the Jacoby teams join the Park Lawn family."

Highlights of the transactions include:

• The addition of two (2) stand-alone funeral homes; and one (1) stand-alone cemetery.
• The transaction represents 1,146 calls per year and 30 interments and is expected to be financed with funds from PLC's credit facility and available cash on hand.
• Following the closing and integration, the Jacoby businesses are expected to add approximately US$2,000,343 in Adjusted EBITDA annually.^[1]
• For the 12 months ended December 31, 2021, PLC had Adjusted EBITDA of US$76,284,577 and net earnings of US$27,812,866.
• The agreed upon purchase price multiple for the transaction is within PLC's publicly-stated targeted Adjusted EBITDA multiple range for its historical transactions.

[1] Adjusted EBITDA is a non-IFRS financial measure. Refer to the Non-IFRS Financial Measures section of this news release for more information on this non-IFRS financial measure.

About Park Lawn Corporation:

PLC provides goods and services associated with the disposition and memorialization of human remains. Products and services are sold on a pre-planned basis (pre-need) or at the time of a death (at-need). PLC and its subsidiaries own and operate businesses including cemeteries, crematoria, funeral homes, chapels, planning offices and a transfer service. PLC operates in three Canadian provinces and seventeen U.S. states.