Mr. Hamed Shahbazi reports

WELL HEALTH AND HEALWELL ANNOUNCE COMPETITION BUREAU HAS CONCLUDED ITS MERGER REVIEW AND ISSUED A NO ACTION LETTER

The Commissioner of Competition has concluded the Competition Bureau's review of Well Health Technologies Corp.'s acquisition of a majority interest in Healwell AI Inc. and has issued a no-action letter.

The no-action letter, issued on Oct. 22, 2026, confirms that the commissioner does not, at this time, intend to make an application under Section 92 of the Competition Act in respect of Well's acquisition of a controlling interest in Healwell completed on April 1, 2025, including Healwell's concurrent acquisition of Orion Health.

In December, 2025, the bureau announced that it had obtained a federal court order for the production of records and information relating to the transaction. Well and Healwell co-operated with the bureau throughout its review and produced the records and information requested.

Hamed Shahbazi, founder, chairman and chief executive officer of Well, commented: "We are pleased that the Competition Bureau has concluded its review and issued a no-action letter regarding our acquisition of Healwell. We appreciate the bureau's engagement throughout the process and remain focused on executing our strategy and delivering value to health care practitioners, patients and shareholders."

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 (artificial intelligence) and every piece of health data is protected. Well owns and operates 275 clinics in Canada, supporting more than five 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 over-the-counter exchange under the symbol WHTCF.