Mr. Hamed Shahbazi reports

WELL HEALTH PROVIDES CORPORATE UPDATE HIGHLIGHTING CANADIAN CLINICS GROWTH MOMENTUM AND RECORD PIPELINE OF CANADIAN PUBLIC SECTOR BUSINESS OPPORTUNITIES AMIDST SURGE OF 'BUY CANADIAN' SENTIMENT

Well Health Technologies Corp. has provided a corporate update highlighting its recent momentum in Canadian clinic growth momentum and a record pipeline of Canadian public-sector business opportunities amidst a surge of Buy Canadian sentiment.

Since Feb. 1, 2025, Well has made significant strides in expanding its Canadian clinic network, adding 11 clinics through a combination of nine acquired clinics and two absorbed clinics. These additions currently generate combined revenues of approximately $29-million and EBITDA (earnings before interest, taxes, depreciation and amortization) of $2-million, further strengthening Well's position as a leader in the Canadian health care sector and leaving room for further margin expansion as the company expects to apply its clinic transformation processes. Well's Canadian clinics demonstrated robust performance throughout 2024, achieving an organic growth rate of 24 per cent. This figure includes 12-per-cent same-clinic revenue growth and 12-per-cent growth through organic absorption.

Hamed Shahbazi, founder and chief executive officer of Well, stated: "The expansion of our Canadian clinics platform and the remarkable growth in our public-sector technology pipeline are powerful indicators of Well's ability to execute its growth strategy effectively. The Buy Canadian movement aligns perfectly with our vision of strengthening the Canadian health care ecosystem. We are well positioned to seize these opportunities by delivering innovative solutions that not only support health care practitioners but also contribute to Canada's economic resilience."

The company's pipeline of Canadian public-sector opportunities for technology services has also seen substantial growth. Well is currently tracking almost 70 opportunities across all Canadian provinces and federally, representing an estimated total contract value of over $300-million. This pipeline is the largest public-sector opportunity pipeline in its corporate history and represents more than triple the size of its public-sector pipeline one year ago. This growth underscores Well's strategic focus on capitalizing on emerging opportunities within Canada's public sector and reflects Well's focus on building out a more robust product portfolio not only internally but through its affiliates.

The recent surge in Buy Canadian sentiment presents a unique opportunity for Well. On Feb. 1, 2025, Premier David Eby of British Columbia announced a directive to ban new procurement from U.S. companies in response to the U.S. tariffs imposed by President Donald Trump. During a news conference in Vancouver, Mr. Eby outlined a three-point plan to protect British Columbia workers and businesses following the implementation of 25-per-cent tariffs on Canadian goods (10 per cent on energy) effective Feb. 4, 2025. His directive urged the British Columbia government and Crown corporations, including ICBC, health services and BC Hydro, to prioritize Canadian goods and services, effectively blocking new procurement contracts with U.S. companies. The province of B.C. is one of Well's most important markets and relationships.

This sentiment has been echoed by leaders from other provinces and at the federal level. Ontario Premier Doug Ford and Quebec Premier Francois Legault have both publicly supported prioritizing Canadian suppliers to strengthen regional economies. Additionally, Francois-Philippe Champagne, Canada's Minister of Innovation, Science and Industry, has encouraged businesses across Canada to adopt a Buy Canadian approach and announced federal initiatives to support companies transitioning to domestic products and services. These measures emphasize the long-term benefits of economic independence and resilience.

"I have never seen such strong interest from public-sector leaders in our products and services as we are experiencing right now," said Shane Sabatino, chief people officer and head of public-sector partnerships at Well. "Our expanded capabilities, combined with a growing momentum to source from Canadian companies, have created a unique opportunity for Well to make a significant impact. We are proud to collaborate with public-sector organizations across Canada, delivering innovative, homegrown solutions that enhance health care delivery and support our national economy."

On Feb. 3, 2025, Well disclosed that it has no exposure to U.S. tariffs against Canadian goods and any potential future tariffs imposed on services would not harm the company given that it currently does not offer its health care software platform capabilities or care delivery capabilities on a cross-border basis. In addition, Well has significant exposure to the U.S. dollar as over 60 per cent of its revenues, adjusted EBITDA (earnings before interest, taxes, depreciation and amortization) and cash flow is generated in U.S. dollars by Well's U.S.-based entities. While tariffs may contribute to a challenging macroeconomic environment, Well operates in the health care sector, which is inherently defensive, recession-proof and insulated from much of the volatility affecting other industries.

The company's combined Canadian clinic acquisition growth pipeline remains strong, with 34 potential opportunities under evaluation, collectively generating $450-million in revenues. This robust pipeline reflects Well's disciplined and strategic approach to expansion, focusing on value-accretive opportunities that align with its long-term growth strategy.

About Well Health Technologies Corp.

Well's mission is to tech-enable health care providers. The company does this by developing the best technologies, services and support available, ensuring health care providers are empowered to positively impact patient outcomes. Well's comprehensive health care and digital platform includes extensive front-office and back-office management software applications that help physicians run and secure their practices. Well's solutions enable more than 41,000 health care providers between the United States and Canada and power the largest owned and operated health care ecosystem in Canada, with more than 200 clinics supporting primary care, specialized care, and diagnostic services. In the United States, Well's solutions are focused on specialized markets such as the gastrointestinal market, women's health, primary care and mental health. Well is publicly traded on the Toronto Stock Exchange under the symbol WELL and on the OTC (over-the-counter) exchange under the symbol WHTCF.

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