• Wellnex Life directors to subscribe for minimum $1.5 million in Entitlement Offer
• Offer open to eligible shareholders at $0.65 per share on 1:1 basis
• Funds to be used for convertible note redemption, Pain Away acquisition, and general working capital

Wellnex Life Limited (ASX: WNX) has announced that its directors have committed to subscribing for a minimum of $1.5 million as part of the company's 1:1 non-renounceable Entitlement Offer. The Entitlement Offer, which was announced on 10 February 2025 and opened on 17 February 2025, allows eligible shareholders to subscribe for ordinary shares at $0.65 per share. The offer is not conditional on the completion of Wellnex Life's proposed dual listing on the AIM market of the London Stock Exchange. Funds raised through the Entitlement Offer and any shortfall will be used to redeem the balance of the company's convertible notes (after any conversions at the time of the AIM listing), pay the outstanding deferred consideration for the acquisition of the Pain Away brand, and fund general working capital, including the costs related to the Entitlement Offer and the proposed AIM listing. The redemption or conversion of all the company's convertible notes and settlement of the Pain Away deferred consideration will result in Wellnex Life saving approximately $1.4 million in annual costs.

Wellnex Life continues to positively progress discussions with key partners to expand its IP arrangements and brands beyond their current distribution territories, including into Europe and the Middle East. The company will provide updates to shareholders as these discussions progress and are finalized.