Mr. Hamed Shahbazi reports

WELL HEALTH REPORTS RECORD CANADIAN PATIENT VISITS AND PRIMARY CARE MARGIN EXPANSION IN Q1-2026

Well Health Technologies Corp. has had record quarterly patient visits across its Canadian clinic network and highlighted continued organic growth, margin expansion in its primary care segment, the continued scaling of its affiliate clinic network and strong momentum in its CardiologyNow virtual specialty care platform.

Highlights:

• Well Canada delivered a record approximately 1.27 million patient visits in Q1 2026, representing 33-per-cent year-over-year growth and 13-per-cent organic growth, reflecting broad-based strength across its national network.
• Primary care adjusted EBITDA (earnings before interest, taxes, depreciation and amortization) margins expanded to approximately 8 per cent in Q1 2026 on a preliminary basis, up approximately 200 basis points from 6 per cent in Q1 2025, driven by Well's clinic transformation program and recent accretive acquisitions. Specialty care margins continued to comfortably exceed 20 per cent.
• The affiliate clinic network expanded to 74 licensee locations, reflecting the continued buildout of Well's 10-year strategic alliance with a large retailer that Well partnered with in December, 2024. The model is highly recurring, high margin and capital light, giving physicians access to high-traffic retail locations nationally.
• CardiologyNow virtual visits grew 65 per cent year to date, supported by expanded specialist capacity and strong referral demand, reinforcing its role as a key access point into Well's national diagnostics network.

Hamed Shahbazi, chairman and chief executive officer of Well, commented: "Our Canadian clinics network delivered another record quarter, with approximately 1.27 million patient visits and 13-per-cent organic growth reflecting the underlying health and compounding value of our platform. Beyond the headline number, we are seeing real operating leverage emerge: margins in primary care are expanding as our clinic transformation program takes hold, our affiliate clinic network continues to scale in a capital-light manner, and CardiologyNow is rapidly becoming a leading virtual specialty care platform in Canada. Together, these are some of the proof points that continue to give us confidence in the durability of Well's growth."

Steep increase in providers drives record patient visits and continued organic growth

Well delivered a record 1.27 million Canadian patient visits in Q1 2026, representing a 33-per-cent increase year over year and 13-per-cent organic growth. Organic growth comprised 8-per-cent same-clinic growth and 5 per cent from clinic absorptions, reflecting strong underlying demand for primary and specialty care, improved clinic utilization and operational efficiencies enabled by Well's tech-enabled platforms.

Well's Canadian clinic network expanded to 253 clinics at quarter-end, an addition of 33 clinics, or 15-per-cent growth, compared with Q1 2025, with the majority of additions completed in Ontario and Alberta, two of Canada's highest-demand health care markets. The company's Canadian network now includes over 3,100 providers, up 17 per cent year over year, with physicians representing the fastest-growing segment of the provider base at 22-per-cent year-over-year growth.

Well continues to maintain a strong pipeline of acquisition and clinic absorption opportunities, reinforcing its position as Canada's leading consolidator of outpatient health care assets.

Primary care margin expansion

On a preliminary basis, Well's primary care segment is expected to deliver adjusted EBITDA margins of approximately 8 per cent in Q1 2026, up approximately 200 basis points from 6 per cent in Q1 2025. The improvement reflects the combined impact of accretive acquisitions and continuing execution of Well's clinic transformation program. Specialty care margins continued to comfortably exceed 20 per cent in the quarter, underscoring the attractive economics of Well's higher-acuity service lines.

Well's clinic transformation program is a disciplined, data-driven initiative designed to enhance efficiency, patient throughput and profitability across clinics that are often operating at or near break-even at the time of acquisition. The program covers clinic integration, digital readiness, implementation of core technologies and continuing performance optimization and is delivering measurable improvements in operating performance across Well's network.

Affiliate clinic network expands to 74 locations with national retail partner

Well's affiliate clinic network has grown to 74 licensee locations across Canada, up from 59 locations at the time Well entered its 10-year strategic alliance with a large retailer in December, 2024. The network now spans six provinces: British Columbia, Alberta, Saskatchewan, Manitoba, Ontario and Quebec, with expansion achieved through a combination of greenfield clinic development and the reopening of previously closed locations formerly operated by the prior provider.

Affiliate clinics are physician- or third-party-owned-and-operated practices located within Well-managed clinic spaces inside high-traffic retail locations. These practices retain full control over their clinical and staffing operations while benefiting from Well-controlled real estate, national scale, and optional access to Well's digital and operational support tools. The model is highly recurring, high margin and capital light and also represents an attractive cross-sell channel for Wellstar's digital health solutions, including EMR (electronic medical records), billing and revenue cycle management, patient engagement, and AI-enabled (artificial intelligence) clinical and administrative tools.

Strong momentum in CardiologyNow virtual visits

CardiologyNow is Well Health Diagnostics' rapid-access virtual cardiology consultation service, powered by a Wellstar digital platform, which connects patients and primary care providers with specialty care and diagnostic imaging. The platform delivered a 65-per-cent year-to-date increase in consultation billings compared with the same period last year.

Growth has been driven by the addition of 35 new cardiologists and internal medicine physicians, expanded referral intake from Well's primary care network, and increased service demand. Well's recently announced partnership with AliveCor is expected to further contribute to this momentum in Q2 2026 and beyond, expanding access to remote cardiac monitoring and enabling timely cardiologist oversight through AI-powered ECG (electrocardiogram) technology.

As Canada's largest cardiology and medical diagnostic network, Well's platform serves as a key access point into its broader diagnostics ecosystem, enabling timely virtual consultations and efficiently directing patients into its national network of diagnostic centres for follow-up testing and care. Well plans to continue scaling the platform through additional recruitment of cardiologists and internal medicine specialists.

Dr. Paul Kannampuzha, chief cardiology officer at Well, commented: "Wait times for specialist consultations remain a significant barrier to timely cardiac care in Canada. CardiologyNow was built to close that gap, and the momentum we are seeing in Q1 reflects the strength of this model. By combining rapid-access virtual consultations with a growing roster of cardiologists and seamless integration into our national diagnostic network, we are able to get patients in front of the right specialist quickly and move them into testing and treatment without delay."

About Well Health Technologies Corp.

Well Health Technologies is Canada's largest outpatient health care company and a leading provider of technology-enabled health care solutions. Well is building the infrastructure for a healthier Canada, where every patient gets better care, every provider is empowered by AI and every piece of health data is protected. Well owns and operates more than 250 clinics in Canada, supporting more than four million annual patient visits. Through its subsidiary Wellstar, Well provides electronic medical records, AI-powered clinical tools, patient engagement platforms and IT (information technology) management services. Well provides cybersecurity services through its Cyberwell subsidiary. 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.

We seek Safe Harbor.