Mr. Hamed Shahbazi reports

WELL HEALTH ANNOUNCES DELAY IN FILING OF ANNUAL AUDITED FINANCIAL STATEMENTS DUE TO MATTER RELATED TO US SUBSIDIARY CIRCLE MEDICAL

Well Health Technologies Corp. will delay the filing of its audited annual consolidated financial statements for the year ended Dec. 31, 2024, the related management's discussion and analysis, and related chief executive officer and chief financial officer certificates beyond the March 31, 2025, deadline.

The delay is resulting from the accounting implications related to the company's non-wholly owned Delaware subsidiary Circle Medical Technologies Inc., as described in further detail below. In fiscal 2023, Circle Medical contributed a net loss of $1.1-million to Well's consolidated net income of $16.6-million and contributed less than 2.7 per cent to Well's consolidated adjusted earnings before interest, taxes, depreciation and amortization.

In September, 2024, Circle Medical received a request for the voluntary production of documents and information from the Civil Division of the United States Attorney's Office for the Northern District of California investigating certain of Circle Medical's billing practices in the United States. Circle Medical has been responding to the RFI and engaging with the USAO to address and resolve this matter. Additional information and analysis regarding the impact of the USAO RFI are necessary to finalize Circle Medical's financial statements and, by extension, the company's annual consolidated financial statements for the year ended Dec. 31, 2024. The production of information by Circle Medical and analysis by the company for the financial statements are not expected to be completed prior to the March 31, 2025, filing deadline for the required filings.

The company does not expect the resolution of the matter to have a material effect on the company's cash position or available resources. The company and Circle Medical are currently working diligently to finalize the company's annual consolidated financial statements at the earliest possible date. The company currently expects to be in a position to file the required filings on or before April 15, 2025.

Notwithstanding the foregoing, the company confirms that it continues to seek strategic alternatives for Circle Medical and is committed to carrying out this process in due course.

The company has applied to the B.C. Securities Commission, as principal regulator for the company, for the imposition of a management cease trade order under National Policy 12-203 (Management Cease Trade Orders) throughout the duration of the filing interval. However, there can be no assurance that a management cease trade order will be granted. The management cease trade order, if approved, will not affect the ability of persons who are not, or have not been, management of the company to trade in its securities.

Well confirms that it will satisfy the provisions of the alternative information guidelines under NP 12-203 by issuing biweekly default status reports, if necessary, in the form of news releases for so long as it remains in default of the above-noted filing requirements. The B.C. Securities Commission may issue a general cease trade order against Well for failure to file the required filings within the prescribed time period or sooner if Well fails to file the prescribed status reports.

Other than as disclosed herein, Well is up to date in its filing obligations.

About Well Health Technologies Corp.

Well's mission is to tech-enable health care providers. It does this by developing the best technologies, services and support available, which ensure health care providers are empowered to positively impact patient outcomes. Well's comprehensive health care and digital platform includes extensive front 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 Exchange under the symbol WHTCF.

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