Completion and Settlement of Sale of Pain Away

 ASX/AIM Announcement        

                                                                                                            11 September 2026

Completion and Settlement of Sale of Pain Away

Wellnex Life Limited (ASX/AIM: WNX) ("Wellnex Life" or the "Company") is pleased to announce that, further to the Company's announcement on 6 August 2026 and following the receipt of shareholder approval at the extraordinary general meeting held on 8 September 2026, all of the conditions precedent to the formal binding agreement to sell the Company's "Pain Away" business and assets to Mentholatum Australasia Pty Ltd  (the "Transaction") have now been satisfied and the Transaction has now completed with the upfront purchase price settled.

Post completion of Transaction, Wellnex will continue to operate its established liquid soft gel analgesics business, built on the Company's own TGA marketing authorisations.  The Company's contract manufacturing business is a capital-light business with growing international reach.  The Board will use the cash proceeds from the Transaction to retire debt and to support the working capital requirements for the Company's continuing operations, and will review options that will deliver best values for shareholders. The Company will provide a further update to shareholders in due course.

This ASX/AIM announcement has been authorised by the Board of Wellnex Life Limited (ASX/AIM:WNX).

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.

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For further information, please contact:

Wellnex Life Limited (ASX/AIM:WNX)                            

Eric Jiang                                                                             

Interim Executive Chairman                                                            

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/