SilverCape Releases Revised Proposal to Acquire PetMed Express for $3.00 per Share in Cash

About this update from Petmed Express, Inc.

Unaccountable Board Led by Chair & Interim CEO Leslie C.G. Campbell Continues to Preside Over Stunning Destruction of Stockholder Value Board's Failure to Properly Consider Strategic Alternatives Amid Ongoing Erosion of Value Could Leave Stockholders with Nothing SilverCape Calls on Directors to Act as Independent Fiduciaries and Engage in Good Faith with its Proposal or Run a Bona Fide Process to Sell the Company SINGAPORE, June 29, 2026 (GLOBE NEWSWIRE) -- SilverCape Investments Limited ("SilverCape"), a Singapore-based single family-office, today released an open letter to the board of directors (the "Board") of PetMed Express, Inc. ("PetMed" or the "Company") (Nasdaq: PETS) calling on the Board to engage with SilverCape on a revised proposal to acquire all outstanding shares of Common Stock of PetMed for $3.00 per share in cash with no financing contingency (the "Proposal"). The proposed purchase price represents a premium of approximately 70% to PetMed's closing share price of $1.76 on June 26, 2026. In its letter to the Board, SilverCape outlines its belief that: The full text of SilverCape's letter to the Board in respect of its Proposal is below: June 29, 2026 PetMed Express, Inc.420 South Congress AvenueDelray Beach, FL 33445

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