AREX Capital Urges Fellow Stockholders to Support Meaningful Change at Enhabit at the Upcoming Annual Meeting

Reiterates that Two Leading Proxy Advisory Firms Have Recommended Stockholders Support Meaningful Change to Enhabit’s Board

Reminds Stockholders that Enhabit Has Historically Made Excuses for Poor Performance and Empty Promises

Underscores Opportunity Stockholders Have to Add Industry-Specific Expertise to Enhabit’s Board at the Annual Meeting on July 25^th

NEW YORK--(BUSINESS WIRE)--AREX Capital Management, LP (together with its affiliates, “AREX”), the beneficial owner of approximately 4.9% of the outstanding common shares of Enhabit, Inc. (NYSE: EHAB) (“Enhabit” or the “Company”), today issued an open letter to its fellow stockholders asking them to address the deficiencies of Enhabit’s current board of directors by electing the full AREX slate, which AREX believes will support the creation of long-term value for all stockholders.

The full text of the letter can be found here: AREX Letter to Enhabit Stockholders.

AREX encourages stockholders to vote for all seven of its highly qualified nominees on the WHITE Proxy Card at the upcoming 2024 Annual Meeting of Stockholders on July 25, 2024. AREX believes this will ensure that Enhabit has a board of directors with the right experience and skills to effectively oversee management and help them drive operational improvements that can lead to significant value creation for stockholders.

Stockholders are encouraged to visit www.rehabEHAB.com for additional information and to download the presentation detailing the AREX Slate’s comprehensive plan to turn around Enhabit’s operational performance: Rehabilitate Enhabit.

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.