ASX/AIM Announcement                                                                                  9 February 2026

Company Update

Wellnex Life Limited (ASX/AIM: WNX) ("Wellnex Life" or the "Company")

Further to the Company's recent market update announcing significant improvement in H1 EBITDA and gross margin, confirming the turnaround trajectory remains on track, the Board provides the following update regarding various financing solutions under consideration.

The Company has received unsolicited preliminary interest from separate parties regarding the acquisition of Pain Away and other assets. Early-stage due diligence is underway across both approaches.

Additionally, a syndicate has approached the Company with an indicative early-stage proposal to provide convertible note funding to expand Pain Away into Asia and North America, aligned with the Company's strategy of delivering positive free cash flow, profitability and long-term shareholder value.

Financing Evaluation

The Board is actively assessing these opportunities alongside traditional debt and equity options to secure the optimal capital structure to maximise value for all shareholders, to settle former director loan repayments due in April 2026 and to drive the turnaround in the business and Pain Away brand.  

The Company will provide further updates in accordance with its continuous disclosure obligations under ASX Listing Rules and AIM Regulation. There can be no certainty that any or all of the potential transactions outlined above will proceed to completion or as to the terms of any transaction Any potential transaction will be assessed against applicable regulatory requirements.

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For further information, please contact:

Wellnex Life Limited (ASX/AIM:WNX)                             Reach Markets

Ash Vesali                                                                             T: 1300 805 941

Executive Chairman                                                           E: [email protected]

E: [email protected]

UK Investors

Strand Hanson (Financial & Nominated Advisor)

James Harris / Richard Johnson                                      Tel: +44 (0) 20 7409 3494

Orana Corporate LLP (Joint Broker)                                                [email protected]

Sebastian Wykeham    

S.P. Angel Corporate Finance LLP (Joint Broker)        Tel: +44 (0)20 3470 0470

David Hignell / Vadim Alexandre

To learn more, please visit: https://wellnexlife.com.au/

The information contained within this announcement is deemed by the Company to constitute inside information pursuant to article 7 of EU Regulation 596/2014 as it forms part of UK domestic law by virtue of the European Union (Withdrawal) Act 2018 as amended.