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WELL Health TECHNOLOGIES CORP Q2-2026 Earnings Presentation August 6 , 2026
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2 Disclaimer This presentation contains forward - looking statements and forward - looking information within the meaning of applicable securitie s laws. These statements relate to future events or future performance. All statements other than statements of historical fact may be forw a rd - looking statements or information. Forward - looking statements and information are often, but not always, identified by the use of words such as “appear”, “seek”, “anticipate”, “plan”, “continue”, “estimate”, approximate”, expect”, “may”, "will", "project", "pr edi ct", "potential", "targeting", "intend", "could", "might", "should", "believe", "would" and similar expressions. Forward - looking statements and i nformation are provided for the purpose of providing information about the current expectations and plans of the management of the Comp any relating to the future. Readers are cautioned that reliance on such statements and information may not be appropriate for ot her purposes, such as making investment decisions. Since forward - looking statements and information address future events and conditions, by their very nature they involve inherent risks and uncertainties. Actual results could differ materially from those currently anticipated due to a number of factors and risks. These include, bu t are not limited to, the risks associated with: primary healthcare sector in general; competition; that future results may vary from h ist orical results; the availability and effective integration and operation of management information systems and other technologies; ability t o m itigate against cyber security risks; ability to access sufficient capital from internal and external sources; changes in legislatio n, including but not limited to tax laws; and government regulations. Accordingly, readers should not place undue reliance on the forward - looki ng statements, timelines and information contained in this presentation. Readers are cautioned that the foregoing list of facto rs is not exhaustive. The forward - looking statements and information contained in this presentation are made as of the date hereof and no undertaking is given to update publicly or revise any forward - looking statements or information, whether as a result of new information, futur e events, or otherwise, unless so required by applicable securities laws or the TSX Exchange. The forward - looking statements or informati on contained in this presentation are expressly qualified by this cautionary statement. The TSX Exchange has in no way passed u pon the merits of the proposed transaction and has neither approved nor disapproved of the contents of this presentation.
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3 (1) This guidance includes the effect of $17.6 million in deferred revenue from WELL’s majority owned subsidiary, Circle Medical expected to be recognized in 2026. For more information regarding this impact, please refer to WELL’s Q2-26 MD&A. Clinic transactions with corresponding revenue and billable provider metrics Execution Across Every Pillar of Our Strategy New 2026 Guidance1: $1.58-1.65B Revenue $185-195M Adj. EBITDA HIGHLIGHTS: 1. WELL Canada achieved $100M Adjusted EBITDA target 2. Completed $150M bond offering 3. WELLSTAR completed $50M financing 4. Strategic acquisitions of OID and UnionMD
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4 WELL Q2-2026 Key Financial Highlights1 Q2 Revenue $400.4M Q2 Adj. EBITDA $48.1M +12% Y/Y -3% Y/Y +102% Y/Y Q2 Adj. Sh. EBITDA $35.3M -6% Y/Y 1) All figures include $4.8 million in Circle Medical revenue deferral impacts for Q2-2026 and $9.7 million for the comparable prior-year period. Q2 Normalized Revenue $395.6M +14% Y/Y Q2 Normalized Adj. EBITDA $43.3M +8% Y/Y Q2 Normalized Adj. EBITDA $32.0M +4% Y/Y
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5 Q2 Normalized Adj. Gross Profit $173.6M +17% Y/Y WELL Q2-2026 Key Financial Highlights1 Q2 Adj. Gross Profit $178.4M Q2 Adj. Gross Margin 44.6% +12% Y/Y +10 bps Y/Y +102% Y/Y Q2 Adj. Net Income $11.6M -55% Y/Y 1) All figures include $4.8 million in Circle Medical revenue deferral impacts for Q2-2026 and $9.7 million for the comparable prior-year period. Q2 Normalized Adj. Gross Margin 43.9% +90 bps Y/Y Q2 Normalized Adj. Net Income $9.2M -56% Y/Y
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6 WELL June-2026 – Monthly Performance Exiting Quarter1 June 2026 Revenue $144.3M June 2026 Normalized Adj. Sh. EBITDA $13.2M June 2026 Adj. EBITDA $17.6M +24% Y/Y June 2026 Normalized Revenue $144.2M +28% Y/Y +12% Y/Y +102% Y/Y +66% Y/Y June 2026 Adj. Sh. EBITDA $13.3M +28% Y/Y June 2026 Normalized Adj. EBITDA $17.6M +43% Y/Y 1) All figures include $74 thousand in Circle Medical revenue deferral impacts for June 2026 and $3.4 million for the comparable prior-year period.
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7 1) All figures exclude HEALWELL AI 2) Definition of Care Interactions = patient visits plus technology interactions WELL Q2-2026 Operational Highlights1 45,000+ Unique Providers supported by WELLSTAR's Technology 5,000+ Providers in WELL's Clinic Network (1,500+ physicians in Canada) 2.0M+ Patient visits (CAN + US) +19% YoY (+5% organic) 3.1 M+ Total Care Interactions2 +21% YoY (+11% organic) 1.4M CAN patient visits in Q2-2026 (5.6M annualized run-rate) +28% YoY CAN patient visit growth
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8 Making a Positive Impact on Canadian Healthcare 85K+ WELL Trust Consents collected as of June 30, 2026 2-Week Wait Time WELL Cardiologists vs. 15.3-week industry average1 80% Reduction in No-Shows at WELL Clinics due to tech enablement 1) Fraser Institute, Waiting Your Turn: Wait Times for Health Care in Canada, 2025 Report, published on December 9, 2025.
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9 Strengthening Our Executive Leadership Team Four strategic appointments across operations, legal, technology and public sector strengthen WELL's leadership bench Derek Clark Chief Operating Officer Loreto Grimaldi Chief Legal Officer Kaytek Przybylski Chief Digital & Information Officer Dr. Andrew Bond Chief Health Officer & Head of Public Sector Operational execution, scalability and enterprise performance across WELL's platform Legal, compliance, governance, risk management and M&A strategy Enterprise technology, digital transformation, data, AI and cybersecurity Clinical governance, government relations and WELL's public sector growth strategy
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10 1 Access 6.5M Canadians have no family doctor. Provider burnout 47% of physicians report burnout. Chronic disease & acute capacity 20% of hospital budgets ($2.5B) tied to avoidable acute-care use.1 Fiscal ceiling Health spending is outpacing budget growth in every jurisdiction. Aging population Seniors are the fastest- growing share of every provincial population. Data fragmentation 70% of health data still isn't shared across care settings. Six Defining Pressures the Canadian Healthcare System is Facing Today 2 3 4 5 6 1) Basu (2025) Hosp. Top.
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11 WELL’s Vision -> To be the Operating System Underpinning Outpatient Healthcare at Scale for a More Modern Canadian Healthcare System Delivery WELL’s Clinics, WELL Diagnostics & virtual care deliver access to excellent care and generate real-world data Technology EMR, billing & connectivity software run the care and systems every day Intelligence AI & analytics turn Canada’s largest primary care dataset into insight and tools for better decisions Clinics that deliver care. Technology that runs it. AI that makes it smarter.
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12 OneWELL One integrated platform to address Canada’s healthcare needs . 01 Delivering connected care 02 Tech-enabling Providers 03 Population Health & AI
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13 Successful Inaugural Bond Offering Extends debt maturity to 2031 and strengthens the balance sheet to support continued growth in Canada . USE OF PROCEEDS ✓ Repay convertible debentures due Dec. 2026 ✓ General corporate purposes TRANSACTION HIGHLIGHTS ✓ WELL's inaugural senior unsecured notes offering ✓ Extends debt maturity profile to 2031 ✓ Ranks equally with other senior unsecured debt Closed July 15$150M Senior Unsecured 6.875% Coupon (per annum) 2031 Maturity (5-year Notes) July 15, 2026 Closed
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14 0 20,000 40,000 60,000 80,000 100,000 120,000 140,000 160,000 180,000 200,000 Q2 2024 Q2 2025 Q2 2026 0 5,000 10,000 15,000 20,000 25,000 30,000 Q2 2024 Q2 2025 Q2 2026 WELL Canada Q2 Revenue Growth (C$ in 000s) WELL Canada Q2 Adj. EBITDA Growth (C$ in 000s) 1) WELL Canada includes Canadian Clinics, WELLSTAR and CYBERWELL. Revenue includes Intercompany revenue. 2) One time reimbursement lift refers to Canadian Patient Services reimbursement revenue received in Q2-2025 for services provided in prior quarters WELL Canada Experiencing Consistent Growth & Profitability 134,346 94,950 176,607 13,032 22,983 27,354 One - time Reimbursement lift 2 One - time Reimbursement lift 2
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15 0 10,000 20,000 30,000 40,000 50,000 60,000 70,000 2021 2022 2023 2024 2025 2026 YTD WELL Canadian Clinics Financial Performance WELL Canadian Clinics Annual Revenue Growth WELL Canadian Clinics Annual Adj. EBITDA Growth WELL Canadian Clinics Count1 (C$ in 000s) (C$ in 000s) 128 275 0 50 100 150 200 250 300 Q1 2022 Q2 2022 Q3 2022 Q4 2022 Q1 2023 Q2 2023 Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026 Q2 2026 0 50,000 100,000 150,000 200,000 250,000 300,000 350,000 400,000 450,000 500,000 2021 2022 2023 2024 2025 2026 YTD
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16 449 548 576 0 100 200 300 400 500 600 700 Q2 2024 Q2 2025 Q2 2026 1,706 1,935 2,444 0 500 1,000 1,500 2,000 2,500 3,000 Q2 2024 Q2 2025 Q2 2026 766,385 1,061,058 1,361,952 0 200,000 400,000 600,000 800,000 1,000,000 1,200,000 1,400,000 1,600,000 Q2 2024 Q2 2025 Q2 2026 WELL Canadian Clinics Patient Visits WELL Providers Are Seeing More Patients Billable Providers in WELL’s Canadian Clinics Network Patient Visits / Billable Provider1 1) Excludes acquisitions completed during the quarter, as patient visit totals for these acquisitions are not yet fully reflective of a complete quarter of operations. Including acquisitions, Including acquisitions, Patient Visits / Billable Provider would be 557.
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17 1) Q1-2026 M&A Activity includes the e-consult acquisition closed on February 1, 2026 Clinic transactions with corresponding revenue and billable provider metrics Canadian Clinic Recent M&A Activity +3 Clinics 3 transactions +$34.0M Annual Revenue Q1-20261Q4-2025 +25 Clinics 7 transactions +$45.6M Annual Revenue +77 Providers Total Canadian Clinics +109 Providers Total Canadian Clinics +23 Clinics 3 transactions +$67.8M Annual Revenue Q2-2026 +117 Providers Total Canadian Clinics Q3-2025 +5 Clinics 5 transactions +$27.5M Annual Revenue +81 Providers Total Canadian Clinics
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18 1) WELL Canada includes Canadian Clinics, WELLSTAR, and CYBERWELL 2) The Total WELL Pipeline includes potential deals that are under LOI and in the pre-LOI stage for WELL Canada WELL continues to execute on a robust pipeline, driving growth and sustaining strong operational momentum. WELL Canada M&A Pipeline $340 million+ Revenue 30+ Targets Engaged 70+ Clinics WELL Canada Total Pipeline(1) ~$193 million Revenue 5 Signed LOIs WELL Canada Under LOI or Advanced Stage(2)
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19 1) Gross Proceeds of $162 million includes $148.2 million in Treasury offering and $13.8 million in secondary offering WELLSTAR: TSXV Listing & $50M Concurrent Financing Concurrent Financing closed July 30, 2026 ahead of WELLSTAR’s planned standalone TSXV listing “A standalone public listing will give WELLSTAR enhanced strategic flexibility, greater access to growth capital and increased visibility with investors.” 15 $50M Gross Proceeds ~$95M Expected 2026 Revenue Rule of 40+ Growth + Profitability $162M Total Raised Last 19 Months1 TRANSACTION HIGHLIGHTS ✓ The $50M Concurrent Financing closed July 30, 2026 — C$36.2M via treasury subscription receipts and C$13.8M via a secondary offering by an existing shareholder ✓ Anchored by a large Canadian bank-owned asset manager, new institutional investors, and existing shareholders. ✓ WELL will remain a majority, long-term controlling shareholder and growing customer of WELLSTAR following the listing. ✓ Use of proceeds include strategic acquisitions, AI-driven product innovation, organic growth initiatives, and general corporate purposes
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20 40,193 58,436 80,109 0 10,000 20,000 30,000 40,000 50,000 60,000 70,000 80,000 90,000 Q2 2024 Q2 2025 Q2 2026 5,615 193 0 1,000 2,000 3,000 4,000 5,000 6,000 7,000 Q2 2024 Q2 2025 Q2 2026 10,655 16,811 23,031 0 5,000 10,000 15,000 20,000 25,000 Q2 2024 Q2 2025 Q2 2026 Revenue1 1) WELLSTAR’s revenue in the chart includes intercompany revenues. 2) WELLSTAR’s Adj. EBITDA excludes Shared Services expenses 3) Comparative periods have been restated to include expenses previously covered by the parent company, providing comparability with the current period. 4) Pubco Costs refers to expenses associated with WELLSTAR’s spinout, including audit and board fees. WELLSTAR: Continued Financial Out-performance Annual Recurring Revenue (ARR) Adj. EBITDA2 (C$ in 000s) (C$ in 000s) +45% +37% +32% +37% (C$ in 000s) +58% 5,808 4,414 3,276 3 Pre - Pubco Costs 4 +27% 3
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21 Strategic Alternatives Processes for US Assets
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22 356.7 -9.7 347.0 -8.7 51.2 6.1 395.6 4.8 400.4 Q2-25 Q2-25 CM Net Deferral … Normalized Q2-25 Q2-25 One Time … WELL Canada US Patient Services & Others Normalized Q2-26 Q2-26 CM Net Deferral … Q2-26 200 250 300 350 400 450 Increase Decrease Total Q2-2026 Financial Highlights: Revenue (C$ in 000,000s) 1) WELL Canada includes Canadian Clinics, WELLSTAR and CYBERWELL 2) Others includes Corporate, WELL Research, and HEALWELL 3) One time reimbursement lift refers to Canadian Patient Services reimbursement revenue received in Q2 -2025 for services provided in prior quarters Reimbursement 1 2 Impact Impact3
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23 1) WELL Canada includes Canadian Clinics, WELLSTAR and CYBERWELL 2) Others includes Corporate, WELL Research, and HEALWELL 3) One time reimbursement lift refers to Canadian Patient Services reimbursement revenue received in Q2 -2025 for services provided in prior quarters 49.7 -9.7 40.1 -5.4 9.8 2.8 -4.0 43.3 4.8 48.1 0 10 20 30 40 50 60 Increase Decrease Total Q2-2026 Financial Highlights: Adjusted EBITDA (C$ in 000,000s) 1 2 3
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24 25.8 -4.9 20.9 -3.8 -8.2 -3.9 3.5 0.6 9.2 2.4 11.6 0 5 10 15 20 25 30 Increase Decrease Total (1) Non-operating Items include other items such as Depreciation, FX gain/loss, Interest Income, Gain on disposal of assets and inve stments, and NCI included in net income (2) Adjusted Net Income is net income (loss) adjusted to remove the impact of non-cash items, non-recurring or non-operational gains and losses, and revenue timing differences that do not reflect the Company’s underlying operating performance. (3) One time reimbursement lift refers to Canadian Patient Services reimbursement revenue received in Q2-2025 for services provided in prior quarters (4) Legal & other costs includes litigation, settlement, and defense costs net of insurance recovery Q2-2026 Financial Highlights: Adjusted Net Income2 (C$ in 000,000s) 1 3 4
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25 (1) Values refer to changes in Shareholder Adjusted EBITDA from Q2-25 to Q2-26 11.7 -2.5 3.3 -1.0 -3.6 3.8 11.7 Q2 - 25 Corporate/WELL Research Cash taxes Cash interest Capex Net growth Q2 - 26 0 2 4 6 8 10 12 14 Increase Decrease Total Q2-2026 Financial Highlights: Adjusted FCFA2S Adjusted Free Cashflow Attributable to Shareholders (C$ in 000,000s) 1 1
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26 1) This guidance includes the effect of $17.6 million in deferred revenue from WELL’s majority owned subsidiary, Circle Medical expected to be recognized in 2026. For more information regarding this impact, please refer to WELL’s Q2-26 MD&A. 2) WELL Canada includes Canadian Clinics, WELLSTAR, and CYBERWELL. Targets are Inclusive of acquisitions. Disciplined Capital Allocation Program Driving Scale Upgraded Outlook WELL Canada2 >$1 Billion Revenue run-rate in 18-months 2026 Guidance1: $1.58-1.65B Revenue $185-195M Adj. EBITDA WELLSTAR expected to begin trading on TSX Venture Exchange in September WELL Canadian Clinics >$100M Adj. EBITDA run-rate by end of 2026
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ibdroot\projects\IBD-NY\hailstone2021\674462_1\4. Presentation\3. Investor Deck (09.xx.2021)\11.10.2021 - WELL investor deck v2.pptx 27 41 / 107 / 170 212 / 131 / 101 40 / 135 / 200 105 / 200 / 196 34 / 119 / 189 109 / 53 / 124 28 / 42 / 86 33 / 41 / 51 27 Contact Hamed Shahbazi CEO, Chairman & Founder hamed@well.company Eva Fong Chief Financial Officer eva.fong@well.company Pardeep Sangha Investor Relations investor@well.company www.well.company Vancouver, BC Canada