AREX Capital Sets the Record Straight Regarding Enhabit’s Misleading Assertions

Reiterates Need for Boardroom Change This Year Following Enhabit’s Staggering Operating and Financial Underperformance

Believes Enhabit’s Stockholders Deserve Leadership That Can Navigate Challenging External Environment

Disappointed by Board’s Continued Refusal to Engage

Urges Stockholders to Vote FOR the AREX Nominees—Who are Best Positioned to Rehabilitate Enhabit—on the WHITE Proxy Card

NEW YORK--(BUSINESS WIRE)--AREX Capital Management, LP (together with its affiliates, “AREX” or “we”), the beneficial owner of approximately 4.9% of the outstanding common shares of Enhabit, Inc. (NYSE: EHAB) (“Enhabit”), today issued an open letter to its fellow stockholders regarding the misleading statements in Enhabit’s recent communications.

The full text of the letter can be found here: AREX Sets the Record Straight.

We believe voting for all seven of AREX’s nominees on the WHITE proxy card at the upcoming 2024 Annual Meeting of Stockholders is the best way to ensure that Enhabit can remain a leader in the home health and hospice industries with a board of directors that is capable of effective management oversight and is accountable to stockholders.

Stockholders are encouraged to visit www.rehabEHAB.com for additional information.

About AREX

AREX Capital Management, LP is a value-oriented investment firm based in New York City. AREX takes a long-term, opportunistic approach to investing and focuses primarily on publicly traded companies with significant, unrealized potential.