HealthEquity 2020 Annual Meeting of Stockholders to be held Virtually

DRAPER, Utah, June 15, 2020 (GLOBE NEWSWIRE) -- HealthEquity, Inc. (HQY) (“HealthEquity” or the “Company”), today announced additional information regarding its 2020 Annual Meeting of Stockholders (the “Annual Meeting”). As previously announced, the Annual Meeting will be held on Thursday, June 25, 2020, at 10:00 a.m. MDT.

Due to the public health impact of COVID-19 (Coronavirus), and in the interest of complying with various public health orders and recommendations limiting travel and the conduct of business activity, the Company will no longer hold the Annual Meeting in-person in Draper, Utah. Instead, the Company will hold the Annual Meeting solely in a virtual meeting format, and you will not be able to attend the Annual Meeting physically.

As described in the proxy materials for the Annual Meeting distributed previously, you are entitled to participate in the Annual Meeting if you were a stockholder of record as of the close of business on May 4, 2020. Whether or not you plan to attend the Annual Meeting, we urge you to vote and submit your proxy in advance by one of the methods described in the proxy materials for the Annual Meeting. You will not receive a new proxy card reflecting the change to a virtual meeting. The proxy card included with the proxy materials distributed previously will not be updated to reflect the change in location and may continue to be used to vote your shares in connection with the Annual Meeting.

Attending the Virtual Annual Meeting

To attend the virtual Annual Meeting, please visit: https://web.lumiagm.com/261252145. If you also want to vote at the meeting, please follow the instructions below and login with your unique 11-digit control number.

Voting at the Virtual Annual Meeting

For record owners: To vote during the Annual Meeting, login with your 11-digit control number (found on your proxy card, the stockholder meeting notice, or in an email you previously received from American Stock Transfer & Trust Company ("AST")). If prompted for an additional code, enter: hlthvirt2020. If you do not have your 11-digit control number, please contact AST at 1-800-937-5449 (outside the United States, Canada and Puerto Rico: 1-718-921-8124).

For holders in street name: If you hold your shares through an intermediary, such as a bank or broker, and you wish to vote during the Annual Meeting, you must obtain a legal proxy from your bank, broker or other intermediary and then register in advance by submitting the legal proxy, along with your name and email address, to AST at proxy@astfinancial.com. You will receive a confirmation email from AST with a 11-digit control number, which may be used to login to vote during the virtual Annual Meeting. If prompted for an additional code, enter: hlthvirt2020.

About HealthEquity

HealthEquity administers Health Savings Accounts (HSAs) and other consumer-directed benefits for our more than 12 million accounts in partnership with employers, benefits advisors, and health and retirement plan providers who share our mission to connect health and wealth and value our culture of remarkable “Purple” service. For more information, visit www.healthequity.com.

Forward-looking statements

This press release contains “forward-looking statements" within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995, including but not limited to, statements regarding our industry, business strategy, plans, goals and expectations concerning our markets and market position, product expansion, future operations, expenses and other results of operations, revenue, margins, profitability, future efficiencies, tax rates, capital expenditures, liquidity and capital resources and other financial and operating information. When used in this discussion, the words “may,” “believes,” “intends,” “seeks,” “anticipates,” “plans,” “estimates,” “expects,” “should,” “assumes,” “continues,” “could,” “will,” “future” and the negative of these or similar terms and phrases are intended to identify forward-looking statements in this press release.

Forward-looking statements reflect our current expectations regarding future events, results or outcomes. These expectations may or may not be realized. Although we believe the expectations reflected in the forward-looking statements are reasonable, we can give you no assurance these expectations will prove to be correct. Some of these expectations may be based upon assumptions, data or judgments that prove to be incorrect. Actual events, results and outcomes may differ materially from our expectations due to a variety of known and unknown risks, uncertainties and other factors. Although it is not possible to identify all of these risks and factors, they include, among others, risks related to the following:

• the impact of the COVID-19 pandemic on the Company, its operations and its financial results;

• our ability to realize the anticipated financial and other benefits from combining the operations of WageWorks with our business in an efficient and effective manner;

• our ability to compete effectively in a rapidly evolving healthcare and benefits administration industry;

• our dependence on the continued availability and benefits of tax-advantaged health savings accounts and other consumer-directed benefits;

• our ability to successfully identify, acquire and integrate additional portfolio purchases or acquisition targets;

• the significant competition we face and may face in the future, including from those with greater resources than us;

• our reliance on the availability and performance of our technology and communications systems;

• recent and potential future cybersecurity breaches of our technology and communications systems and other data interruptions, including resulting costs and liabilities, reputational damage and loss of business;

• the current uncertain healthcare environment, including changes in healthcare programs and expenditures and related regulations;

• our ability to comply with current and future privacy, healthcare, tax, investment advisor and other laws applicable to our business;

• our reliance on partners and third-party vendors for distribution and important services;

• our ability to develop and implement updated features for our technology and communications systems and successfully manage our growth;

• our ability to protect our brand and other intellectual property rights; and

• our reliance on our management team and key team members.

For a detailed discussion of these and other risk factors, please refer to the risks detailed in our filings with the Securities and Exchange Commission, including, without limitation, our most recent Annual Report on Form 10-K and subsequent periodic and current reports. Past performance is not necessarily indicative of future results. We undertake no intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. Forward-looking statements should not be relied upon as representing our views as of any date subsequent to the date of this press release.

Investor Relations Contact:
Richard Putnam
801-727-1209
rputnam@healthequity.com