Mr. James Lee reports

HEALWELL TO DEPLOY AI-POWERED SMART SEARCH AND SMART SUMMARY ACROSS STATEWIDE U.S. HEALTH INFORMATION EXCHANGE

Healwell AI Inc. has entered into an agreement with Converge Health Iowa, Iowa's designated statewide health information exchange (HIE) and an existing Orion Health customer, to deploy the Darwen-powered Smart Search and Smart Summary solutions across Iowa's statewide HIE infrastructure, which currently receives data from 115 hospitals and is designed to support health care providers and organizations statewide. The agreement represents a multimillion-dollar, multiyear enterprise contract and is expected to generate recurring revenue over its term that is substantial relative to the current run rate of Healwell's AI (artificial intelligence) and data sciences business unit.

Highlights:

• Healwell, through its subsidiary Orion Health, has entered into an agreement with the statewide designated health information exchange of Iowa, Converge Health Iowa, to deploy Darwen-powered Smart Search and Smart Summary.
• The agreement represents a multimillion-dollar, multiyear enterprise opportunity and is expected to generate recurring revenue over its term that is substantial relative to the current run rate of Healwell's AI and data sciences business unit.
• Smart Search and Smart Summary are designed to reduce clinical burden on physicians at the point of care, extracting relevant clinical facts from complex, longitudinal patient records with document-level traceable provenance. This allows physicians to verify the source behind every extracted fact and make better-informed clinical decisions, rather than relying on unconstrained generative output.

Beyond the commercial value of the agreement, the deployment represents an opportunity to bring Healwell's AI-powered clinical search and summarization capabilities to an entire U.S. state through a statewide health information exchange supporting millions of patients and connecting health care providers across the network. The implementation is expected to make Smart Search and Smart Summary available to authorized clinicians across the network, helping them more efficiently locate and review relevant information within longitudinal patient records.

James Lee, chief executive officer of Healwell, commented: "This agreement is a proof point for the strategy at the core of how we are scaling Healwell. We built the Orion Health relationship to give us a large, trusted footprint inside global health systems, and this is exactly the kind of repeatable cross-sell we set out to unlock, taking an existing infrastructure relationship and expanding it into higher-value AI. It demonstrates our intention to move quickly from data connectivity to clinical value, and it's a template we intend to repeat across Orion Health's broader enterprise customer base. Once inside, Smart Search and Smart Summary address a problem every clinician feels -- spending too much time digging through fragmented, longitudinal records instead of focused on patient care -- and they do it in a way that keeps every output traceable back to the source. That combination, a repeatable go-to-market motion paired with genuine clinical utility, is central to how we think about scaling Healwell's AI business."

"A statewide HIE can bring together an extraordinary amount of information, but connectivity alone isn't enough," said Laura Young, executive director of Converge Health Iowa. "Our goal is to make that information genuinely useful to the people delivering care. These Smart tools are expected to help clinicians more quickly identify the information that matters within a longitudinal record while preserving the ability to trace that information back to its source. That is an important next step in making statewide interoperability more actionable."

Clinicians today spend a significant portion of their time manually sifting through increasingly complex, longitudinal patient records to locate the information relevant to a single encounter. Smart Search and Smart Summary are designed to close that gap, surfacing relevant clinical information in seconds rather than requiring manual chart review. What sets the underlying Darwen technology apart is its intended traceability: Every output is designed to link back to its source information, rather than relying on the unconstrained generative output common to many AI tools, a distinction that matters directly in clinical settings where accuracy and auditability are non-negotiable.

The potential clinical and workflow benefits of Smart Summary were evaluated in a February, 2026, Canada Health Infoway demonstration involving 50 clinicians across two electronic medical record environments. In that demonstration, 84 per cent of participating clinicians indicated that they believed Smart Summary could save them time, while 90 per cent rated its usability 4 or 5 out of 5, 85 per cent rated its accuracy 4 or 5 out of 5, and 79 per cent indicated that they would recommend the solution to colleagues.

The Canada Health Infoway demonstration also highlighted the scale of the information burden that Smart Summary is designed to address. Each summary consolidated a median of seven source documents, with as many as 41 source documents combined into a single structured summary for a complex patient. Clinicians reported the greatest perceived value when they were unfamiliar with a patient, managing complex cases or reviewing high volumes of fragmented clinical information.

Healwell believes these findings may be particularly relevant to a statewide HIE serving millions of patients, where clinicians may need to rapidly understand a longitudinal history assembled from multiple providers, facilities and care settings. Rather than requiring clinicians to manually navigate numerous documents across a patient record, Smart Search and Smart Summary are designed to surface relevant clinical information more efficiently while maintaining traceability back to the underlying source documentation.

By combining these capabilities with Converge Health Iowa's existing Orion Health infrastructure, Healwell expects to help transform a large-scale statewide repository of connected health information into a more actionable clinical resource at the point of care. Across a network of this scale, even modest reductions in the time required to find, review and verify relevant information have the potential to create meaningful workflow efficiencies, reduce chart-review burden and allow clinicians to spend more time focusing on the patient, rather than clinical portals.

The agreement supports Healwell's strategy of cross-selling its AI capabilities across Orion Health's global enterprise customer base. It builds directly on Healwell's previously announced health information exchange win combining VeroSource and Orion Health, expanding an existing infrastructure relationship into higher-value AI capabilities. Management views this as a proof point for a repeatable land-and-expand model, one it intends to pursue across other health systems and health information exchange customers within the Orion Health network, which currently represents approximately 70-plus potential HIE cross-sell and upsell opportunities.

About Healwell AI Inc.

Healwell is a health care artificial intelligence company focused on preventive care. Its mission is to improve health care and save lives through early identification and detection of disease. Using its own proprietary technology, the company is developing and commercializing advanced clinical decision support systems that can help health care providers detect rare and chronic diseases, improve efficiency of their practice and ultimately help improve patient health outcomes. Healwell is executing a strategy centred around developing and acquiring technology and clinical sciences capabilities that complement the company's road map. Healwell is publicly traded on the Toronto Stock Exchange under the symbol AIDX and on the OTC (over-the-counter) exchange under the symbol HWAIF.

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