KKR Completes Acquisition of PharMerica

LOUISVILLE, Ky.–(BUSINESS WIRE)–PharMerica Corporation (NYSE:PMC) today announced the completion of the
acquisition of PharMerica by a newly formed company controlled by KKR
with an affiliate of Walgreens Boots Alliance, Inc. (Nasdaq: WBA) as a
minority investor.

As a result of the completion of the acquisition, PharMerica
shareholders will receive an amount in cash equal to $29.25 per share of
PharMerica common stock, without interest. In connection with the
completion of the acquisition, shares of PharMerica’s common stock will
cease trading on the NYSE prior to the opening of the NYSE on December
8, 2017.

UBS Investment Bank and BofA Merrill Lynch are serving as financial
advisors to PharMerica and Davis Polk & Wardwell LLP is serving as
PharMerica’s legal advisor. Simpson Thacher & Bartlett LLP and Weil,
Gotshal & Manges LLP are serving as legal advisors to KKR and Walgreens
Boots Alliance, Inc., respectively.

About PharMerica

PharMerica Corporation is a leading provider of pharmacy services.
PharMerica serves the long-term care, hospital pharmacy management
services, specialty home infusion and oncology pharmacy markets.
PharMerica operates 96 institutional pharmacies, 20 specialty home
infusion pharmacies and 5 specialty oncology pharmacies in 45 states.
PharMerica’s customers are institutional healthcare providers, such as
skilled nursing facilities, assisted living facilities, hospitals,
individuals receiving in-home care and patients with cancer.

About KKR

KKR is a leading global investment firm that manages multiple
alternative asset classes, including private equity, energy,
infrastructure, real estate, credit and, through its strategic manager
partnerships, hedge funds. KKR aims to generate attractive investment
returns by following a patient and disciplined investment approach,
employing world-class people, and driving growth and value creation with
KKR portfolio companies. KKR invests its own capital alongside its
partners’ capital and provides financing solutions and investment
opportunities through its capital markets business. References to KKR’s
investments may include the activities of its sponsored funds. For
additional information about KKR & Co. L.P. (NYSE: KKR), please visit
KKR’s website at www.kkr.com
and on Twitter @KKR_Co.

About Walgreens Boots Alliance

Walgreens Boots Alliance, Inc. (Nasdaq: WBA) is the first global
pharmacy-led, health and wellbeing enterprise. The company’s heritage of
trusted health care services through community pharmacy care and
pharmaceutical wholesaling dates back more than 100 years.

Walgreens Boots Alliance is the largest retail pharmacy, health and
daily living destination across the U.S. and Europe. Walgreens Boots
Alliance and the companies in which it has equity method investments
together have a presence in more than 25* countries and employ more than
385,000* people. The company is a global leader in pharmacy-led, health
and wellbeing retail and, together with the companies in which it has
equity method investments, has more than 13,200* stores in 11* countries
as well as one of the largest global pharmaceutical wholesale and
distribution networks, with more than 390* distribution centers
delivering to more than 230,000** pharmacies, doctors, health centers
and hospitals each year in more than 20* countries. In addition,
Walgreens Boots Alliance is one of the world’s largest purchasers of
prescription drugs and many other health and wellbeing products.

The company’s portfolio of retail and business brands includes
Walgreens, Duane Reade, Boots and Alliance Healthcare, as well as
increasingly global health and beauty product brands, such as No7, Soap
& Glory, Liz Earle, Sleek MakeUP and Botanics.

The company ranks No. 1 in the Food and Drug Stores industry of Fortune
magazine’s 2017 list of the World’s Most Admired Companies.

More company information is available at www.walgreensbootsalliance.com.

* As of 31 August 2017, using publicly available information for
AmerisourceBergen.
** For 12 months ending 31 August 2017, using
publicly available information for AmerisourceBergen.

Contacts

PharMerica Corporation
Robert E. Dries, 502-627-7475
Executive
Vice President and
Chief Financial Officer
or
KKR
Kristi
Huller / Cara Kleiman, 212-750-8300
media@kkr.com
or
Walgreens
Boots Alliance

Media Relations
Michael Polzin, 847-315-2935
Jim
Cohn, 847-315-2950
or
Investor Relations
Gerald Gradwell
/ Ashish Kohli, 847-315-2922