Xiwang Iovate Holdings Company Limited, Iovate Health Sciences International Inc., and Iovate Health Sciences U.S.A. Inc. Joint Annual Report for the Period dated January 1, 2025 to December 31, 2025 Published in accordance with Canada’s Fighting Against Forced Labour and Child Labour in Supply Chains Act

1. Introduction.

This Joint Annual Report (the “Report”) is prepared and submitted on behalf of the board of directors of Xiwang Iovate Holdings Company Limited (“Xiwang”), Iovate Health Sciences International Inc. (“Iovate International”) and Iovate Health Sciences U.S.A. Inc. (“Iovate USA”, and together with Xiwang and Iovate International, referred to collectively as “Iovate”) pursuant to Iovate’s approved Anti Slavery Policy in accordance with Canada’s Fighting Against Forced Labour and Child Labour in Supply Chains Act (the “Act”), for the period from January 1, 2025 to December 31, 2025 (the “Reporting Period”). Each of Xiwang, Iovate International and Iovate USA meet the thresholds for assets and revenue under the Act.

Iovate does not report under supply chain legislation in other jurisdictions.

On September 5, 2025 (the “NOI Filing Date”), Iovate International, Iovate USA and Northern Innovations Holding Corp. (“Northern”, and together with Iovate International and Iovate USA, the “NOI Applicants”) each filed a Notice of Intention to make a Proposal (collectively, the “NOIs”, and the related proceedings, the “NOI Proceedings”) pursuant to section 50.4 of the Bankruptcy and Insolvency Act, R.S.C. 1985, c. B-3 (the “BIA”).

On October 31, 2025 (the “CCAA Filing Date”), the Court issued an order (the “Initial Order”, as amended and restated) that granted the NOI Applicants, Xiwang and Iovate Health Sciences Australia PTY Ltd (“Iovate Australia”, and together with the NOI Applicants and Xiwang, the “CCAA Applicants”) protection under the Companies’ Creditors Arrangement Act, R.S.C., 1985, с. С-36 (the “CCAA” and the proceedings thereunder, the “CCAA Proceedings”). Pursuant to the Initial Order, KSV Restructuring Inc. was appointed as the Monitor of the CCAA Applicants.

On December 12, 2025, the Court granted an order (the “Enhanced Monitor Powers Order”) for enhanced powers to permit the Monitor to more directly supervise and, where appropriate, manage the CCAA Applicants’ business in order to ensure the fair and transparent administration of the CCAA Proceedings. The enhanced powers granted pursuant to this Order enable the Monitor to exercise any powers which may be properly exercised by a board of directors or any officers of the CCAA Applicants.

This Report provides information regarding the risks of modern slavery in Iovate’s supply chain and sets out the actions taken by Iovate to mitigate those risks and respond to any known instances of forced labour or child labour within Iovate’s operations.

2. Structure, Activities & Supply Chains.

Iovate is a dynamic, leading-edge nutritional company that develops, sources, distributes and sells innovative diet and sports nutrition supplements and natural health products globally. Iovate develops products under four nutritional brands, MuscleTech®, Hydroxycut®, Six Star® and Purely Inspired®. Iovate is headquartered in Oakville, Ontario, Canada.

Iovate International and Iovate USA are both 100% wholly owned subsidiaries of Xiwang. Xiwang is also the parent of several affiliate companies, Northern, Iovate Health Sciences Europe Limited, and Iovate Australia. Northern is a company incorporated pursuant to the laws of Ontario that owns the trademarks and patents for each of the Iovate brands, MuscleTech®, Hydroxycut®, Six Star® and Purely Inspired, and licenses the rights to the brand trademarks to Iovate International and Iovate USA. Iovate USA is the parent company of several affiliates, including Muscletech LLC, Hydroxycut LLC, Six Star Pro Nutrition LLC, Purely Inspired LLC, SimpleVita Nutrition LLC, XP Sports LLC and Conscious Kitchen LLC.

Iovate manufactures its dietary and sports nutrition supplements through approximately 27 co-manufacturers located in the United States, Australia, India and the European Union. For the majority of co-manufacturers, Iovate’s business is under 50% of the of co-manufacturers’ line time. Further, under Iovate’s current licensing model, Iovate International grants the right to international partners to manufacture, or work with Iovate’s co-manufacturers to manufacture and distribute Iovate’s products in various global regions and countries such as India, South Korea and Brazil.

Iovate’s co-manufacturers source and purchase ingredients for Iovate products from suppliers globally. In certain cases, particularly for key ingredients, Iovate may have a direct ingredient and license agreement with the ingredient supplier under which co-manufacturers purchase on Iovate’s behalf. For most ingredients, the volume related to Iovate’s business would amount to less than 50% of the line time for any ingredient supplier.

Iovate sells and distributes its products in approximately 90 countries worldwide. Internationally, Iovate distributes products through a distribution model whereby Iovate sells products to distributors and the distributors are responsible for marketing and sales in their licensed territory as designated in their contract. Iovate has distribution partners located in Latin America, the Middle East, Africa, Europe, Oceana, Asia and India. Iovate also operates a direct-to-consumer online store in North America, with order fulfillment facilitated through a third-party partner.

3. Policies and Due Diligence Processes in relation to Forced Labour and Child Labour

Iovate is committed to preventing forced labour and child labour in its supply chain. To this end, Iovate developed an Anti-Slavery Policy in 2024, which was approved and adopted by the Board of Directors at the time. The Anti-Slavery Policy (the “Policy”) was drafted in accordance with the core provisions of the Act. The objective of the Policy is to ensure that all Iovate employees comply with the provisions of the Act while discharging their daily duties. It is a reference document for all employees who engage with distributors, manufacturers, and suppliers of Iovate. The Policy created channels for employees to report suspected incidents of modern slavery, forced labour and child labour. It also sets out the resolution mechanisms created for such incidents.

Iovate has created other internal policies, such as an Iovate employee manual, Whistleblowing, Social Responsibility, Anti-Fraud and Anti-Corruption policies, to ensure that human rights and good ethics are maintained within Iovate’s work environment.

4. Risk of Forced Labour and Child Labour & Steps Taken to Manage Risk

Iovate acknowledges that there is risk at multiple levels in our supply chain. Commodities are challenging to trace, and often our suppliers and co-manufacturers do not have visibility upstream because they purchase from distributors. Parts of our supply chain are in areas that contain a higher risk of modern slavery, and certain ingredients in our products carry a higher risk of forced labour or child labour. For example, some of our products contain ingredients listed on the United States Department of Labor 2024 List of Goods Produced by Child Labor or Forced Labor, such as green coffee or salt, and some of our packaging contains cotton. Since our co-manufacturers generally determine where they purchase these ingredients and purchase most ingredients from distributors who have their own suppliers, there is a risk that these ingredients are purchased from areas with a risk of forced labour or child labour. Some of our ingredients, including protein and creatine, are sourced from China.

All of Iovate’s manufacturing agreements with co-manufacturers and ingredient supply agreements include a compliance with laws provision, which requires our supply chain partners to comply with all applicable laws, including those relating to forced labour and child labour. Iovate’s contracts also generally include the right to conduct quality audits, including in-person facility visits. Such facility visits give Iovate visibility to the workforce engaged by Iovate’s co-manufacturers. During the Reporting Period, Iovate developed a questionnaire based on the core provisions of the Act and distributed such questionnaire to its co-manufacturers. The responses received indicate that these co-manufacturers are substantially compliant with the Act’s requirements through adherence to the applicable local legislation governing their operations, as well as their internal policies, which include supplier auditing and monitoring. In addition, some co-manufacturers choose to source cocoa exclusively from Rainforest Alliance-certified vendors as a means of mitigating the risk of forced or child labour.

Our aim is to address the growing risks of modern slavery, particularly in higher-risk areas of our supply chain, by seeking more transparency from our suppliers and co-manufacturers.

5. Remediation Measures

During the Reporting Period, Iovate did not identify any instances of forced labour or child labour in its activities or supply chains. As a result, no remediation measures have been taken during the Reporting Period.

Our approach to remediation of any instance of forced labour or child labour, and any measures to remediate the loss of income to the most vulnerable families that may result from any measure taken to eliminate such use of forced labour or child labour, would depend on the specific circumstances. Any response to a reported incident of forced labour would consider and be proportionate to the role of the facility in Iovate’s supply chain and the importance of Iovate’s business to the supplier or co-manufacturer (including the percentage of line time Iovate’s purchases represent to the facility). Iovate’s remediation measures will include, but are not limited to, prioritizing the lives of child or forced labour victims over business gains.

6. Training

Iovate developed a training program for employees explaining the Iovate’s policies to prevent forced labour and child labour. During the Reporting Period, employees on the Iovate procurement team, sales team and quality assurance team participated in an interactive training session led by Iovate’s legal department. The training provided to employees, among other things, covers the various ways of complying with Iovate’s policy and the Act. It was an interactive training session as the participants had the opportunity to ask meaningful questions on various ways of complying with the Policy and the Act. Some of the questions asked during the training have been incorporated into Iovate’s 2025 action plan for fighting force labour and child labour in our supply chain.

7. Measures to Assess Effectiveness

During the Reporting Period, Iovate assessed the effectiveness of its Anti-slavery Policy to ensure that forced labour and child labour are not present in Iovate’s supply chains. The assessment included reviewing whether any incidents were reported and conducting a review of whistleblowing activities. During this reporting Period, Iovate did not receive reports of any actual or alleged instances of forced labour or child labour, and no instances of whistleblowing.

Additionally, Iovate made the Anti-Slavery policy available to all employees to review, ask questions, and implement in the course of their duties. Inter-departmental meetings were held to review the implementation of the Anti-Slavery Policy and the Act.

Attestation:

This Report was approved by the Board of Directors of Xiwang Iovate Holdings Company Limited, the parent company of Iovate Health Sciences International Inc. and Iovate Health Sciences U.S.A. Inc. In accordance with the requirements of the Act, and in particular section 11, thereof, I attest that I have reviewed the information contained in the report for the entity or entities listed above. Based on my knowledge, and having exercised reasonable diligence, I attest that the information in the report is true, accurate and complete in all material respects for the purposes of the Act, for the reporting year listed above.

Name: Xiyao Michael Liu

Title: Managing Director

Date: May 15, 2026