Montréal, Québec – December 10th, 2024 – Premier Health of America Inc. (TSXV: PHA) (the “Corporation”), a leading Canadian Healthtech company, announces it has filed its Audited Annual Consolidated Financial Statements and MD&A for its financial year ended on September 30th, 2024.

Highlights

(1) See the Corporation’s MD&A for details on this non-GAAP measure.

Summary

Adjusted EBITDA for the quarter was $1.0M ($2.1M for the same period in 2023), mainly driven
by a decline in the Quebec per diem business.
• Net Loss for the quarter was $2.3M (loss of $1.9M for the same period in 2023

The effects of the implementation of Quebec’s Bill 10 continued impacting the Per Diem segment during this quarter. Hours billed remained low, but somewhat stabilized. As a reminder, Bill 10 imposes capped rates and a series of restrictions for using independent labor in Quebec. The Travel Nurse’s and northern communities’ services are performing to our satisfaction. Markets outside Quebec are stable.

As a result of the downtrend of its Per Diem business, the Company will reorganize its operating model in Quebec to increase efficiency and reduce costs to adapt to the new regulations in that province. The plan includes strategies aimed at lowering the operational overhead, capturing synergies within the group, as well as reducing corporate spending. Overall, these measures are expected to improve EBITDA by around $4.7M as compared to FY2024. In addition, FY2024 acquisition costs and non-recurring items totaling $2.7M are not expected to be incurred again in 2025, further improving next year’s expected EBITDA.

While some of these changes have already been deployed, the bulk of the plan will take effect in early 2025.

“Our acquisition of Solutions Staffing last November was a key strategic decision in light of the situation in the province of Quebec. We are adapting and rolling out a plan to remain competitive and profitable in that province. As we move through the current turbulences, we will concentrate our efforts on the travel nurse segment across Canada. In 2025 our focus will be on cost reduction, debt reduction and organic growth,” said Martin Legault, CEO of Premier Health.

More information can be found in the Company’s quarterly financial statements and MD&A as available on sedarplus.ca.

About Premier Health

Premier Health is a leading Canadian Healthtech company that provides a comprehensive range of outsourced services solutions for healthcare needs to governments, corporations, and individuals. Premier Health uses its proprietary LiPHe platform to lead the digital transformation of the healthcare services sector, providing patients with faster, more affordable, and more accessible care.

Non-GAAP Measures

Earnings before interest, taxes, depreciation, and amortization (“EBITDA”), is calculated as the net profit (loss), before non-recurring items excluding acquisition and transaction costs, non-cash expenses (including loss from disposal of assets, impairments, amortization, and depreciation), change in fair values, interest expense, net of interest income and income tax expense(recovery). Adjusted EBITDA excludes Sharebased compensation and unusual items, as determined from time to time. Gross margin is either used as a number or a percentage. As a number, it means Revenues minus Direct Costs. When used as a percentage, it means the ratio of Revenues minus Direct Costs to Revenues. More detail can be found in PHA’s
Management Discussion and Analysis.

For Further Information Please Contact:

Mr. Jean-Robert Pronovost
Vice President Corporate Development

Premier Health of America Inc.

[email protected] / 1 800 231 9916

Mr. Guy Daoust
Chief Financial Officer

Premier Health of America Inc.

[email protected] / 1 800 231 9916Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION:

This press release contains forward-looking information based on current expectations. Statements about the date of trading of the Corporation’s common shares on the Exchange and final regulatory approvals, among others, are forward-looking information. These statements should not be read as guarantees of future performance or results. Such statements involve known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to be materially different from those implied by such statements. The Corporation assumes no responsibility to update or revise forward-looking information to reflect new events or circumstances unless required by law. These factors and others are more fully discussed in the filings of the Corporation with Canadian securities regulatory authorities available at www.sedar.com.

Premier Health reports 2024 fourth quarter results