EP Care Inc., has formed a joint venture with SEB Administrative Services Inc. to launch a "Healthcare Spending Account Mastercard Program", offering a challenger product to traditional employer health spending accounts. Healthcare Spending Accounts ("HSA") help business owners save on medical costs by turning an after- tax personal medical expense into a before-tax business expense. This plan is a smart and efficient option for the modern-day entrepreneur helping the plan member minimize coverage gaps between government and employer funded healthcare and other health insurance options.

The Mastercard HSA solution is unique to the Canadian marketplace and is particularly applicable to small companies and self-employed business owners. In Canada, 97% of all businesses are small businesses, representing 1.2 million companies, 10.3 million employees and 0.9 million gig workers. Together, Everyday People and SEB are the first to introduce this integrated employee healthcare spending account and credit card program into the Canadian market.

This program represents a large specialty opportunity targeting the HSA market, currently estimated at over $8 billion premium in Canada and over $98 billion in the United States6. The combined resources and client base position the new joint venture to capture significant market share in the overall HSA Canadian marketplace. Within the joint venture, Everyday People will operate as the program manager and SEB will operate as the HSA program administrator and adjudicator.

SEB has an established customer base of employers who use SEB's proprietary benefit administration and billing solutions (including SaaS solutions) to self- administer health benefit programs for their employees.