Reports anticipated reduction in losses in excess of $10 million for the third quarter of 2023 compared to the prior quarter

FOXO Technologies Inc. (NYSE American: FOXO) (“FOXO” or the “Company”), a leader in the field of epigenetic biomarker technology, today provided a business update on the planned commercial rollout of its new direct-to-consumer (DTC) app, the VITHAR™ AI Health Coach. The Company also expects to report its financial results for the three and nine months ended September 30, 2023, which the Company anticipates will reflect a reduction in losses in excess of $10 million for the third quarter of 2023, including cash operational cost reductions in excess of $2.1 million, over the second quarter of 2023.

Mark White, Interim CEO of FOXO Technologies, stated, “We are making rapid progress with the planned rollout of our VITHAR™ AI Health Coach and I am pleased to report the commercial launch is on track for early 2024. We believe the new direct-to-consumer offering will provide users with unprecedented health insights and coaching by leveraging the Company’s proprietary epigenetic data and algorithms. To enhance our commercial launch, we plan to leverage KR8’s broad network of social media influencers. Towards this end, we are advancing discussions with well renowned health and fitness celebrities, which we look forward to announcing in the near future.”

“In addition, we have taken meaningful steps to streamline the organization and enhance efficiency. As a result, we expect to report annualized cost savings in excess of 52% for 2023. Moreover, we expect to maintain a lean operating infrastructure, which we believe will allow us to rapidly scale the business and drive profitability following the commercial launch of the VITHAR AI Health Coach.”

About FOXO Technologies Inc. (“FOXO”)

FOXO, a technology platform company, is a leader in epigenetic biomarker discovery and commercialization focused on commercializing longevity science through products and services that serve multiple industries. FOXO's epigenetic technology applies AI to DNA methylation to identify molecular biomarkers of human health and aging. For more information about FOXO, visit www.foxotechnologies.com. For investor information and updates, visit https://foxotechnologies.com/investors/.

Forward-Looking Statements

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