AREX acknowledges that the Company has begun interviewing the two highly qualified director candidates that it has presented to Enhabit's Board in order to expedite the Board's announced Transition Plan. However, AREX believes that the Board must also immediately commit to launching a review of strategic alternatives before the end of 2023 given the compelling value that a full and fair sale process could deliver to shareholders. If the Board is unwilling to make this important and appropriate commitment, AREX has indicated that it will consider all options at its disposal to ensure that shareholder value is maximized and that the Board is held accountable.