Mr. James Lee reports

HEALWELL FILES AMENDED BUSINESS ACQUISITION REPORT

Healwell AI Inc. has filed an amended and restated business acquisition report dated Oct. 24, 2025, relating to Healwell's acquisition of Orion Health Holdings Ltd., which closed on April 1, 2025. The amended BAR replaces and supersedes the previous business acquisition report of Healwell filed on June 30, 2025.

The company filed the amended BAR to update the audit report to reflect an administrative change in compliance with the international standards on auditing whereas the prior report reflected compliance with ISA (New Zealand). Although ISA NZ is substantively similar to ISA, the audit report has been updated to confirm compliance with ISA and include additional disclosure related to the auditor's responsibilities in connection with the audit as required by ISA. The amended BAR was filed at the request of staff of the Ontario Securities Commission in connection with a staff review.

The amended BAR can be viewed on SEDAR+.

About Healwell AI Inc.

Healwell is a health care artificial intelligence company focused on preventative care. Its mission is to improve health care and save lives through early identification and detection of disease. Using its own proprietary technology, the company is developing and commercializing advanced clinical decision support systems that can help health care providers detect rare and chronic diseases, improve efficiency of their practice, and ultimately help improve patient health outcomes. Healwell is executing a strategy centred around developing and acquiring technology and clinical science capabilities that complement the company's road map. Healwell is publicly traded on the Toronto Stock Exchange under the symbol AIDX and on the OTC exchange under the symbol HWAIF.