Admission to AIM and First Day of Dealings

Admission will take place and dealings in the Ordinary Shares will commence at 8.00 am (London time) today, 21 March 2025 under the ticker "WNX" and ISIN AU0000162281. The Ordinary Shares are currently admitted to trading on the ASX and will continue to trade on the ASX under the ticket "WNX".

In conjunction with Admission, the Company has also completed a successful capital raising of approximately £5.22m (A$10.68m) (before expenses) through a placing of new Ordinary Shares with certain institutional and other investors through a UK and Australian placing.

The Company's AIM Admission Document is available in the link below (all capitalised terms within this announcement have the same meaning as those defined in the Admission Document):

Transaction Highlights

• £5.22m (A$10.68m) raised (before expenses) via the placing of a total of 16,429,627 Ordinary Shares ("Placing Shares") at a placing price of £0.3175 (A$0.65) (the "Issue Price") which comprised a:
• UK Placing of 10,417,317 Ordinary Shares
• Australian Placing of 6,012,310 Ordinary Shares
• The Placing Shares represent approx. 24.8% of the issued share capital on Admission
• Enlarged Share Capital on Admission of 66,233,933 Ordinary Shares
• £21.0m (A$43.1m) market capitalisation on Admission, at the Issue Price
• UK institutional shareholders, Premier Miton Group and Pentwater Capital Management, have participated in the UK Placing and will each own 4.76% of the Company's issued share capital at Admission

Strand Hanson Limited acted as the Company's Nominated and Financial Adviser, with S.P. Angel Corporate Finance LLP and Orana Corporate LLP acting as the Company's UK Joint Brokers. Barclay Pearce Capital Management Pty Limited and Reach Markets Pty Ltd acted as the Company's Co-Lead Managers in Australia.

Reasons for Admission

AIM Admission forms a key part of the Company's strategy to continue to bring to market innovative products, increase distribution with a particular focus on international markets and take further advantage of the Company's strong supply agreements with Haleon and others. In addition, the Directors believe that the profile and status of the Company will be enhanced by Admission.

Use of Funds

The net proceeds of the Placing, estimated to be £4.49m (A$9.20m), together with the £1.07m (A$2.19m) proceeds of the Company's recently completed rights offer in Australia, are being used to finance the repayment of the deferred consideration in respect of the Company's acquisition of Pain Away, for the repayment of outstanding balance of Convertible Notes, being the balance of the Convertible Notes due following the application of A$2.19m of the Convertible Notes in subscription for Ordinary Shares at the Issue Price, and for working capital purposes to drive international expansion.

Debt Elimination

The Company has now settled in full the deferred consideration due to the Pain Away vendors, including both the balance of the A$6.25m deferred consideration (being A$5.25m) and the A$0.2m residual management fee, and is issuing 403,225 new Ordinary Shares to the Pain Away vendors in final settlement of the Company's obligations. The security charge in favour of the Pain Away vendors has consequently been released.

Furthermore, following the issue at Admission of the CLN Shares and repayment of the remaining Convertible Notes, expected shortly, the Company will have eliminated over A$13m of debt, allowing the Group to move forward with a significantly improved balance sheet. The elimination of this debt results in annualised cost savings of c. A$1.4 million.

WRAP Retail Offer

On 19 March 2025, the Company launched a retail offer via the Winterflood Retail Access Platform ("WRAP") to raise up to £0.3 million (A$614,100) (before expenses) (the "WRAP Retail Offer") through the issue of new Ordinary Shares.

Under the WRAP Retail Offer, up to 945,000 new Ordinary Shares (the "WRAP Retail Offer Shares") will be made available at the Issue Price.

The WRAP Retail Offer is expected to close at 12.00 noon (UK time) on 26 March 2025. Eligible retail investors should note that financial intermediaries may have earlier closing times.

About Wellnex Life (https://wellnexlife.com.au)

Wellnex Life is an Australian incorporated company based in Melbourne, and is in the business of developing, licensing, marketing and distributing consumer healthcare and pharmaceutical products, available in leading retailers and wholesalers across Australia, including Coles, Woolworths, Chemist Warehouse, Sigma and Symbion. One of the Company's brands ('Mr Bright') is also available in the UK through retailers Superdrug and TK Maxx.

The Company was admitted to the official list of the Australian Stock Exchange ("ASX") under the name Wattle Health Australia Limited (ASX:WHA) on 14 March 2017. On 1 June 2021, the Company changed its name to Wellnex Life Limited (ASX:WNX).

Brands and Products

The Group's business is focused on bringing innovative brands and products to the growing consumer healthcare market and its brands are sold in all major pharmacy and grocery retailers in Australia. This has led to the Group establishing strong relationships with Australia's largest pharmacy retailer, Chemist Warehouse, and one of the world's largest consumer healthcare companies, Haleon plc (LSE:HLN) ("Haleon"). The Group procures the manufacturing of products for distribution by third parties, including Haleon (formerly part of the GlaxoSmithKline group), and Australia's largest generic OTC medicine company, Arrotex Pharmaceuticals Pty Limited ("Arrotex").

All the Group's products (except for 'Mr Bright' products which are outside the regulatory framework in Australia) are regulated by the Therapeutic Goods Administration ("TGA") in Australia. The TGA is Australia's government authority responsible for evaluating, assessing and monitoring products that are defined as therapeutic goods.

The Group's current product and brand portfolio is as follows:

Pain Away - TGA listed topical pain relief brand (acquired in December 2023).

Wakey Wakey - TGA listed caffeine energy-based brand (launched in October 2021).

Nighty Night - TGA listed sleep aid brand (launched in July 2023).

The Iron Company - TGA listed iron supplement brand (launched in October 2021).

Mr Bright - teeth and oral hygiene brand (acquired in December 2022).

Pharmacy Own - TGA registered range of over the counter ("OTC") medicines (launched in December 2021).

Wagner Health Liquigesics - Launched and developed by the Group in August 2021 in collaboration with Chemist Warehouse, initially as a liquid paracetamol in a soft gel product, which has subsequently further expanded into various forms of liquid analgesics. The Wagner Health Liquigesics products are used in the Pharmacy Own brand and are provided to Haleon and Arrotex as part of supply agreements with them.

Wellness Life - A prescription-only medicinal cannabis brand launched by the Group in July 2024. Neither the Group nor its affiliates undertake or will undertake any recreational cannabis activities.

The Board on Admission will comprise of three Executive Directors and five Non-Executive Directors:

Executive Directors

• George Karafotias, Chief Executive Officer and Joint Managing Director

George is a specialist in restructuring, reinventing and implementing turnaround strategies for various ASX-listed companies with great success. His extensive experience includes an established track record with publicly-traded businesses, predominantly in senior executive positions.

Zack Bozinovski, Joint Managing Director

Zack is a highly successful and seasoned executive in the Australian retail industry with over 35 years' experience within fast-moving consumer goods and pharmaceutical companies in Australia and internationally. Zack previously held senior positions at Uncle Tobys/Goodman Fielder, PepsiCo and Sigma and successfully developed and established many brands in the Australian retail sector.

Vivienne Zhang, Chief Financial Officer

Vivienne is a CPA qualified accountant, with over 12 years' experience in senior financial management, primarily in FMCG. Vivienne's previous role was with SABCO Australia as financial controller, where she was responsible for overseeing the financial management of an A$100 million revenue company.

Non-Executive Directors

George Tambassis, Non-Executive Chair (Independent)

George is the current Pharmacy Guild of Australia President (Victorian Branch) and served as a director of the Pharmacy Guild of Australia (Victorian Branch) for 15 years. George has extensive board and executive experience in corporate strategy, business operations, finance and risk management, particularly in the health, logistics, pharmacy finance, insurance and aged care sectors.

Andrew Vidler, Non-Executive Director (Independent)

Andrew has comprehensive experience across retail, consumer health and retail pharmacy. Andrew is currently the CEO of the assistive technologies business, Country Care Group, a large Australian private business which manufactures, sells, and retails to customers seeking mobility and independent living solutions across Australia.

Eric Jiang, Non-Executive Director (Independent)

Eric brings a distinctive understanding of the culture, economic and strategic context in which Australian businesses engage with China. Eric has previously sat on the boards of ASX listed corporates Connexion Media (ASX:CXZ), Perpetual Resources Limited (ASX:PEC) and Wingara AG Limited (ASX:WNR).

Jeffrey Yeh, Non-Executive Director

Jeffrey is an experienced entrepreneur with over 21 years' experience in all aspects of pharmaceutical sales, marketing, production, quality assurance, operations, logistics, finance and management. Jeffrey co-founded Homart Group Pty Ltd ("Homart") in 2002, and since then has grown Homart into a premier and award-winning manufacturing and brand business with over 200 employees and an international presence.

Ruari McGirr, Non-Executive Director

Ruari is a qualified chartered accountant and a former approved Qualified Executive under the AIM Rules for Nominated Advisers. He has been an adviser to both quoted companies on the London financial markets and private companies for over 30 years, working at a number of financial advisory firms, including Arden Partners Plc and WH Ireland Limited's Capital Markets Division

Zack Bozinovski, Joint Managing Director, commented: "We are delighted with the support we've received from both Australian and UK investors to provide us with the funding needed to eliminate costly debt, and provide us with the balance sheet strength to expand our existing business organically and launch our products into the European market. We have an opportunity to capitalise on a growing consumer healthcare market and are well positioned to grow globally, as already evidenced by our recent launch of products in the UK under our supply agreement with Haleon.

"In our latest trading update for January and February 2025 we recorded an 89% year-on-year growth across both own Brand sales and IP licensing revenues. We expect that our UK IPO, and support from UK investors, along with the support from our Australian investors, provides us with a strong foundation for further growth and geographic expansion."