Park Lawn Deepens its Presence in the Kansas City Metropolitan Area

TORONTO, ON / ACCESSWIRE / February 8, 2023 / Park Lawn Corporation (TSX:PLC, 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 Carson-Speaks Chapel in Independence, Missouri; Speaks Buckner Chapel in Buckner, Missouri; Speaks Suburban Chapel in Independence, Missouri; and Oak Ridge Memory Gardens in Independence, Missouri (collectively "Speaks"). The Speaks acquisition expands Park Lawn's footprint in the Kansas City metropolitan market through the addition of three (3) stand-alone funeral homes and one (1) stand-alone cemetery and is anticipated to close in early April 2023 following the receipt of regulatory approval.

"We are pleased to further solidify our strong operating position in the greater Kansas City metropolitan area through the strategic acquisition of the Speaks businesses," said J. Bradley Green, Chief Executive Officer of PLC. Mr. Green continued, "These distinguished businesses not only closely align with Park Lawn's values but will also further our operational synergies in the market. We are honored to welcome the Speaks businesses and their teams into the Park Lawn family."

Highlights of the transaction include:

• The addition of three (3) stand-alone funeral homes and one (1) stand-alone cemetery.
• The transaction represents 772 calls per year, 80 interments per year, and is expected to be financed with funds from PLC's credit facility and available cash on hand.
• Following the closing and integration of the transaction, the Speaks acquisition is expected to add approximately US$2,247,759 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.

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 eighteen U.S. states.