ASX ANNOUNCEMENT/RELEASE

10 December 2020

WELLFULLY REGAINS RIGHTS TO TECHNOLOGIES LICENSED TO P&G

Wellfully Limited (ASX: WFL) (Wellfully or the Company) is pleased to announce that it has completed negotiations with Procter & Gamble (P&G) to allow Wellfully to use its Magnetic Microarray and Powered Array technologies in its own product developments on a royalty free basis.

These technologies were previously licensed to P&G on an exclusive worldwide basis for use in skincare applications. The new agreement will grant Wellfully a royalty free, non-exclusive right to use previously licensed technologies in Wellfully developed products in skin care applications. Because of this new agreement, Wellfully now can use previously licensed technologies in Wellfully developed products in all application areas.

The new agreement, which will be enacted by amendments to the Exclusive Patent and Know-How License of November 2019, the Master License Agreement of August 2016 and the Powered Array License Agreement of March 2018.

The new agreement delivers key benefits to both parties. For P&G, it creates the opportunity for incubation and learnings between P&G's brands and the product innovations of Wellfully's own Device Development Division, which is currently distributing RÉDUIT Skincare and Haircare devices and SkinPod and HairPod formulations, with new hygiene products expected during the first quarter of 2021.

For Wellfully, the immediate benefit will be to allow the use of Wellfully's Magnetic Microarray and Powered Array technologies in its current and future products. It also provides Wellfully with the ability to make strong skin penetration claims in its skincare and haircare products that were previously exclusive claims to P&G.

Wellfully will continue to design, develop, manufacture and distribute world-class innovative skincare, grooming and hygiene products. The speed to market and supply chain management made possible through Wellfully's fully integrated, science-based structure will enable Wellfully to commercialise products of its own and demonstrate future opportunities to offer products relevant to multiple categories.

ABOUT WELLFULLY

Wellfully is a fully integrated, science-based wellness company. In addition to its own-brand, RÉDUIT, the Company also offers a portfolio of proprietary technologies and supports partners by providing IP-protected market exclusivity, expertise in magnetic array design, feasibility and efficacy, and claims testing, engineering and production.

Wellfully's established operations via its wholly-owned business units are:

Directors

CEO

Registered Office

Contact

Mr Antonio Varano

Mr Paul Peros

284 Oxford Street

Tel: +61

8 9443 3011

Mr Steven Schapera

Leederville

www.wellfully.net

Mr Jeffrey Edwards

Company Secretary

Western Australia

www.obj.com.au

Mr Cameron Reynolds

Mr John Palermo

6007

ABN: 72

056 482 636

ASX ANNOUNCEMENT/RELEASE

10 December 2020

  • The Innovation & R&D unit provides technology to the other business units of the Company, as well as licensing and development services to international partners.
  • The Design & Technology and Supply-chain hub in Dongguan, China has the ability to rapidly develop and industrialize the Company's technologies and innovations in an agile, efficient, secure and cost- effective manner.
  • The Digital Communications and Marketing & Sales units are focused on supporting Wellfully's own consumer brands.
  • BodyGuard is the Company's therapeutic unit and develops advanced "direct to site of injury" patch products for the wellness and pain management sectors. This technology also has applications across supplement, healthcare, and musculoskeletal sectors.

ABOUT WELLFULLY'S TECHNOLOGIES

Wellfully has developed a number of physical enhancement technologies based on the interactions between ingredient molecules and weak atomic forces, positioning the Company as a world leader in the science of magnetic fields as they relate to drug or active-ingredient delivery.

The first of Wellfully's magnetic technologies was the Magnetic Microarray. Complex 3-D magnetic fields, produced by low-cost microarray film, influence the movement and penetration through the skin of drugs, active ingredients and formulations at the molecular level. This was licensed and commercialized in 2014.

The second magnetic technology, the Programmable Array technology, employs powered electromagnetic fields that can be altered to suit individual consumer's skincare needs. This was licensed for skincare applications in 2020.

The third magnetic technology uses magnetic fields to alter the wettability of a surface, substantially enhancing contact between liquid and solids. Magneto-Wetting underpins the Company's current developments in haircare, skincare and surface hygiene, in conjunction with Wellfully's recently developed Ultrasonic Misting technology. International patents have been filed.

FORWARD-LOOKING STATEMENTS

This announcement contains certain "forward-looking statements" concerning Wellfully. Where Wellfully expresses or implies an expectation or belief as to future events or results, such expectation or belief is expressed in good faith and believed to have a reasonable basis.

Forward-looking statements provided in this announcement are based on assumptions and contingencies which are subject to change without notice. Such forward-looking statements including statements regarding intentions, planned events and potential results are provided as a general guide only and should not be relied upon as an indication or guarantee of future performance.

There can be no assurance that actual outcomes will not differ materially from these forward-looking statements, and there are risks associated with Wellfully and the industry which may affect the accuracy of the forward-looking statements. Wellfully does not undertake any obligation to release publicly any revisions to any forward-looking statements to reflect events or circumstances after the date of this announcement or to reflect the occurrence of unanticipated events, except as may be required under applicable securities laws.

Directors

CEO

Registered Office

Contact

Mr Antonio Varano

Mr Paul Peros

284 Oxford Street

Tel: +61

8 9443 3011

Mr Steven Schapera

Leederville

www.wellfully.net

Mr Jeffrey Edwards

Company Secretary

Western Australia

www.obj.com.au

Mr Cameron Reynolds

Mr John Palermo

6007

ABN: 72

056 482 636

ASX ANNOUNCEMENT/RELEASE

10 December 2020

This release has been issued with the authorisation of the Board.

- Ends -

For more information: Matthew Wright matt@nwrcommunications.com.auPhone: +61 451 896 420

Directors

CEO

Registered Office

Contact

Mr Antonio Varano

Mr Paul Peros

284 Oxford Street

Tel: +61

8 9443 3011

Mr Steven Schapera

Leederville

www.wellfully.net

Mr Jeffrey Edwards

Company Secretary

Western Australia

www.obj.com.au

Mr Cameron Reynolds

Mr John Palermo

6007

ABN: 72

056 482 636

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Wellfully Ltd. published this content on 10 December 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 09 December 2020 22:46:00 UTC