PICATO NOTICE OF PROPOSED CLASS ACTION SETTLEMENT AND SETTLEMENT APPROVAL HEARING

VANCOUVER, BC, Feb. 4, 2025 /CNW/ - A class action settlement has been reached in Stewart v. LEO Pharma Inc. et al, S.C.B.C. No. S2010053 (the "Claim").

The British Columbia Supreme Court has certified the class action for the purpose of implementing the proposed settlement. The settlement is a compromise of disputed claims and does not constitute an admission of liability, wrongdoing, or fault by any Defendant. The proposed settlement is subject to Court approval.

The Class consists of all persons in Canada who purchased and/or used Picato^® in Canada between January 1, 2013, and the present.

The settlement provides for payment of $437,678.24 CAD by the Defendants in exchange for a release of all matters related to the Claim. After deducting Class Counsel Fees, disbursements, Administration Expenses, and Honorarium, the remaining funds will be donated as follows: 50% to the Canadian Skin Cancer Foundation's GoSafe Sun safety program and 50% to the Law Foundation of British Columbia.

Full settlement details and court documents are available at: www.rhelaw.com/class-action/picato-class-action-canada.

The representative plaintiff has entered into a contingency fee agreement with Class Counsel providing for a maximum fee of 30% (plus taxes and disbursements). The court will determine the final amount to be paid for legal fees and disbursements.

Important Deadlines:

• Opt-Out Deadline: March 28, 2025
• Objection Deadline: If you wish to object to the settlement, you must notify Class Counsel by March 28, 2025.
• Settlement Approval Hearing: April 15, 2025, at 800 Smithe Street, Vancouver, B.C., before the Honourable Mr. Justice Brongers.

If you are a Class Member, you are automatically included in the Class and will be bound by the settlement if approved by the Court, unless you opt out.

For members of the Class that wish to object or opt out of the settlement, you must notify Class Counsel no later than March 28, 2025, in the manner set out in the notice.

Class Counsel are Rice Harbut Elliott LLP. More information on the settlement (including the opt-out form, Notice and Settlement Agreement) is available at https://rhelaw.com/class-action/picato-class-action-canada/.

This notice has been authorized by the British Columbia Supreme Court.

SOURCE Rice Harbut Elliott LLP