LifeWorks Inc. shareholders vote overwhelmingly in favor of the resolution relating to the arrangement for TELUS to acquire LifeWorks at a special meeting of shareholders held

TORONTO–(BUSINESS WIRE)–LifeWorks Inc. (the “Company” or “LifeWorks”) (TSX: LWRK) held its special meeting of shareholders virtually on Thursday, August 4, 2022, at which shareholders voted overwhelmingly in favor of the special resolution approving the proposed plan of arrangement with TELUS Corporation, with 99.93% of the votes FOR the resolution.

The sole purpose of the special meeting of shareholders was to allow LifeWorks shareholders to consider, pursuant to an interim order of the Ontario Superior Court of Justice (Commercial List) dated July 6, 2022, and, s t is deemed expedient to adopt, a special order resolution to approve the proposed plan of arrangement involving LifeWorks and TELUS, pursuant to which TELUS will acquire all of the issued and outstanding common shares of LifeWorks.

To be effective, the Arrangement Resolution required the affirmative vote of at least 66⅔% of the votes cast by holders of LifeWorks Common Shares present in person or represented by proxy at such special meeting.

An audio recording of the meeting will be made available in the investor relations section of lifeworks.com on Friday, August 5, 2022.

Next steps of the acquisition

In addition to LifeWorks shareholder approval, the transaction is also subject to court approval, regulatory approvals, including competition clearances, and the satisfaction of other closing conditions customary for transactions of this nature.

About LifeWorks

LifeWorks is a global leader in providing digital and in-person solutions that support the total well-being of people – mental, physical, financial and social. As the trusted leader in mental health and wellbeing, LifeWorks provides a personalized continuum of care that helps our customers improve the lives of their employees and, in the process, improve their business. Guided by our purpose of improving lives and improving business, we help our clients improve the well-being of their employees, we help them improve workforce engagement and productivity, improving and the performance of our clients’ organizations. LifeWorks is a publicly traded company on the Toronto Stock Exchange (TSX: LWRK). The company has approximately 7,000 employees, 25,000 customers, and serves 36 million people and their families in more than 160 countries.

Forward-looking information

This press release contains “forward-looking information” within the meaning of applicable securities laws, such as statements regarding anticipated future events, results, circumstances, performance or expectations that are not historical facts. Specific statements used in this press release that may contain “forward-looking information” include, but are not limited to, statements regarding the completion or otherwise of the Arrangement. They are based on certain factors and assumptions, including expected growth, results of operations, business prospects and opportunities. The use of words such as “will”, “expect”, “could”, “subject to” or other words of similar effect may indicate “forward-looking information”. Forward-looking information is not a guarantee of future performance and is subject to numerous risks and uncertainties, including those described in the Circular, in the Company’s other public documents (available on SEDAR at sedar.com) and in the report management of the Company under the heading “Risks and uncertainties”.

These risks and uncertainties include, among other things, risks relating to judicial, regulatory and other consents and approvals required to effect the Arrangement and the possibility that the Arrangement Agreement may be terminated in certain circumstances. Given these risks and uncertainties, investors should not place undue reliance on forward-looking information in predicting actual results.

All forward-looking information contained in this press release is qualified by these cautionary statements. These statements are made as of the date of this press release and, except as required by applicable law, the Company undertakes no obligation to publicly update or revise any forward-looking information, whether as a result of new information, future events or otherwise. Further, the Company undertakes no obligation to comment on any analyses, expectations or statements made by third parties regarding the Company, its financial or operating results or its securities.

ID-CAD, ID-CORP, ID-IR


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