REBATE REPORT $7,855,000 Wellness Ridge Community Development District (Lake County, Florida) Special Assessment Bonds, Series 2023 (Assessment Area One) Dated: April 20, 2023 Delivered: April 20, 2023 _____________________________________________________ Rebate Report to the Computation Date April 20, 2026 Reflecting Activity To April 20, 2026 TABLE OF CONTENTS AMTEC Opinion 3 Summary of Rebate Computations 4 Summary of Computational Information and Definitions 5 Methodology 7 Sources and Uses 8 Proof of Arbitrage Yield 9 Bond Debt Service 11 Arbitrage Rebate Calculation Detail Report – Acquisition & Construction Fund 13 Arbitrage Rebate Calculation Detail Report – Reserve Fund 14 Arbitrage Rebate Calculation Detail Report – Capitalized Interest Fund 16 Arbitrage Rebate Calculation Detail Report – Cost of Issuance Fund 17 Arbitrage Rebate Calculation Detail Report – Rebate Computation Credits 18 May 20, 2026 Wellness Ridge Community Development District c/o Ms. Katie Costa Director of Operations – Accounting Division Government Management Services – CF, LLC 6200 Lee Vista Boulevard, Suite 300 Orlando, FL 32822 Re: $7,855,000 Wellness Ridge Community Development District (Lake County, Florida), Special Assessment Bonds, Series 2023 (Assessment Area One) Dear Ms. Costa: AMTEC has prepared certain computations relating to the above referenced bond issue (the “Bonds”) at the request of the Wellness Ridge Community Development District (the “District”). The scope of our engagement consisted of preparing the computations shown in the attached schedules to determine the Rebatable Arbitrage as described in Section 103 of the Internal Revenue Code of 1954, Section 148(f) of the Internal Revenue Code of 1986, as amended (the “Code”), and all applicable Regulations issued thereunder. The methodology used is consistent with current tax law and regulations and may be relied upon in determining the rebate liability. Certain computational methods used in the preparation of the schedules are described in the Summary of Computational Information and Definitions. Our engagement was limited to the computation of Rebatable Arbitrage based upon the information furnished to us by the District. In accordance with the terms of our engagement, we did not audit the information provided to us, and we express no opinion as to the completeness, accuracy or suitability of such information for purposes of calculating the Rebatable Arbitrage. We have scheduled our next Report as of April 30, 2027. Thank you and should you have any questions, please do not hesitate to contact us. Very truly yours, Michael J. Scarfo Senior Vice President Trong M. Tran Assistant Vice President SUMMARY OF REBATE COMPUTATIONS Our computations, contained in the attached schedules, are summarized as follows: For the April 20, 2026 Computation Date Reflecting Activity from April 20, 2023 through April 20, 2026 Fund Description Taxable Inv Yield Net Income Rebatable Arbitrage Acquisition & Construction Fund 4.644457% 61,841.71 (10,029.82) Reserve Fund 4.376106% 33,828.65 (7,633.69) Capitalized Interest Fund 4.651210% 434.86 (69.77) Cost of Issuance Fund 4.433314% 44.54 (10.03) Totals 4.550144% $96,149.76 $(17,743.31) Bond Yield 5.300082% Rebate Computation Credits (6,702.15) Net Rebatable Arbitrage $(24,445.46) Based upon our computations, no rebate liability exists. SUMMARY OF COMPUTATIONAL INFORMATION AND DEFINITIONS COMPUTATIONAL INFORMATION 1. For the purpose of computing Rebatable Arbitrage, investment activity is reflected from April 20, 2023, the delivery date of the Bonds, to April 20, 2026, the Computation Date. All nonpurpose payments and receipts are future valued to the Computation Date of April 20, 2026. 2. Computations of yield are based on a 360-day year and semiannual compounding on the last day of each compounding interval. Compounding intervals end on a day in the calendar year corresponding to Bond maturity dates or six months prior. 3. For investment cash flow, debt service and yield computation purposes, all payments and receipts are assumed to be paid or received respectively, as shown on the attached schedules. 4. Purchase prices on investments are assumed to be at fair market value, representing an arm's length transaction. 5. During the period between April 20, 2023 and April 20, 2026, the District made periodic payments into the Debt Service Fund that were used, along with the interest earned, to provide the required debt service payments. Under Section 148(f)(4)(A), the rebate requirement does not apply to amounts in certain bona fide debt service funds. The Regulations define a bona fide debt service fund as one that is used primarily to achieve a proper matching of revenues with principal and interest payments within each bond year. The fund must be depleted at least once each bond year, except for a reasonable carryover amount not to exceed the greater of the earnings on the fund for the immediately preceding bond year or 1/12th of the principal and interest payments on the issue for the immediately preceding bond year. We have reviewed the Debt Service Fund and have determined that the funds deposited have functioned as a bona fide debt service fund and are not subject to the rebate requirement. DEFINITIONS 6. Computation Date April 20, 2026. 7. Computation Period The period beginning on April 20, 2023, the delivery date of the Bonds, and ending on April 20, 2026, the Computation Date. 8. Bond Year Each one-year period (or shorter period from the date of issue) that ends at the close of business on the day in the calendar year that is selected by the Issuer. If no day is selected by the Issuer before the earlier of the final maturity date of the issue or the date that is five years after the date of issue, each bond year ends at the close of business on the anniversary date of issuance, or the final maturity date of the Bonds. 9. Bond Yield The discount rate that, when used in computing the present value of all the unconditionally payable payments of principal, interest and qualified guarantee fees with respect to the Bonds, produces an amount equal to the present value of the issue price of the Bonds. Present value is computed as of the date of issue of the Bonds. 10. Taxable Investment Yield The discount rate that, when used in computing the present value of all receipts of principal and interest to be received on an investment during the Computation Period, produces an amount equal to the fair market value of the investment at the time it became a nonpurpose investment. 11. Issue Price The price determined on the basis of the initial offering price to the public at which price a substantial amount of the Bonds were sold. 12. Rebatable Arbitrage The Code defines the required rebate as the excess of the amount earned on all nonpurpose investments over the amount that would have been earned if such nonpurpose investments were invested at the Bond Yield, plus any income attributable to the excess. Accordingly, the Regulations require that this amount be computed as the excess of the future value of all the nonpurpose receipts over the future value of all the nonpurpose payments. The future value is computed as of the Computation Date using the Bond Yield. 13. Funds and Accounts The Funds and Accounts activity used in the compilation of this Report and identified in the Trust Indenture was received from records provided by U.S. Bank, Trustee, as follows: Account Name Account Number Revenue 214381000 Interest 214381001 Sinking 214381002 Reserve 214381004 Prepayment 214381003 Acquisition & Construction 214831005 Cost of Issuance 214831006 METHODOLOGY Bond Yield The methodology used to calculate the bond yield was to determine the discount rate that produces the present value of all payments of principal and interest through the maturity date of the bonds. Investment Yield and Rebate Amount The methodology used to calculate the Rebatable Arbitrage as of April 20, 2026, was to calculate the future value of the disbursements from all funds, subject to rebate, and the value of the remaining bond proceeds, at the yield on the Bonds, to April 20, 2026. This figure was then compared to the future value of the deposit of bond proceeds into the various investment accounts at the same yield. The difference between the future values of the two cash flows, on April 20, 2026, is the Rebatable Arbitrage. $7,855,000 Wellness Ridge Community Development District (Lake County, Florida) Special Assessment Bonds, Series 2023 (Assessment Area One) Delivered: April 20, 2023 Sources of Funds Par Amount $7,855,000.00 Original Issue Discount -45,173.05 Total $7,809,826.95 Uses of Funds Acquisition and Construction Fund $7,108,751.68 Reserve Fund 261,231.26 Capitalized Interest Fund 61,769.01 Cost of Issuance Fund 220,975.00 Underwriter’s Discount 157,100.00 Total $7,809,826.95 Prepared by AMTEC (Finance 8.901) PROOF OF ARBITRAGE YIELD $7,855,000 Wellness Ridge Community Development District (Lake County, Florida) Special Assessment Bonds, Series 2023 (Assessment Area One) Present Value to 04/20/2023 Date Debt Service @ 5.3000822137% 06/15/2023 61,769.01 61,277.33 12/15/2023 202,153.13 195,366.68 06/15/2024 322,153.13 303,300.59 12/15/2024 199,603.13 183,070.81 06/15/2025 324,603.13 290,031.62 12/15/2025 196,946.88 171,428.34 06/15/2026 326,946.88 277,237.25 12/15/2026 194,184.38 160,409.30 06/15/2027 329,184.38 264,908.17 12/15/2027 191,315.63 149,984.87 06/15/2028 331,315.63 253,034.53 12/15/2028 188,340.63 140,127.30 06/15/2029 333,340.63 241,606.09 12/15/2029 185,259.38 130,809.92 06/15/2030 340,259.38 234,051.52 12/15/2030 181,965.63 121,935.90 06/15/2031 341,965.63 223,236.69 12/15/2031 177,865.63 113,113.91 06/15/2032 347,865.63 215,514.44 12/15/2032 173,509.38 104,719.77 06/15/2033 353,509.38 207,848.81 12/15/2033 168,896.88 96,740.67 06/15/2034 353,896.88 197,471.80 12/15/2034 164,156.25 89,233.24 06/15/2035 359,156.25 190,192.56 12/15/2035 159,159.38 82,107.57 06/15/2036 364,159.38 183,013.59 12/15/2036 153,906.25 75,350.99 06/15/2037 373,906.25 178,334.89 12/15/2037 148,268.75 68,891.25 06/15/2038 378,268.75 171,220.51 12/15/2038 142,375.00 62,781.25 06/15/2039 382,375.00 164,258.01 12/15/2039 136,225.00 57,007.86 06/15/2040 391,225.00 159,494.39 12/15/2040 129,690.63 51,507.24 06/15/2041 399,690.63 154,640.95 12/15/2041 122,771.88 46,274.35 06/15/2042 402,771.88 147,890.90 12/15/2042 115,596.88 41,349.41 06/15/2043 410,596.88 143,080.25 12/15/2043 108,037.50 36,675.79 06/15/2044 418,037.50 138,248.69 12/15/2044 99,706.25 32,122.48 06/15/2045 429,706.25 134,864.99 12/15/2045 90,837.50 27,773.69 06/15/2046 440,837.50 131,306.98 12/15/2046 81,431.25 23,628.78 06/15/2047 446,431.25 126,196.01 12/15/2047 71,621.88 19,723.21 06/15/2048 456,621.88 122,498.14 12/15/2048 61,275.00 16,013.89 06/15/2049 471,275.00 119,985.54 12/15/2049 50,256.25 12,464.80 06/15/2050 480,256.25 116,040.42 12/15/2050 38,700.00 9,109.36 06/15/2051 493,700.00 113,209.05 Prepared by AMTEC (Finance 8.901) PROOF OF ARBITRAGE YIELD $7,855,000 Wellness Ridge Community Development District (Lake County, Florida) Special Assessment Bonds, Series 2023 (Assessment Area One) Present Value to 04/20/2023 Date Debt Service @ 5.3000822137% 12/15/2051 26,471.88 5,913.49 06/15/2052 506,471.88 110,218.65 12/15/2052 13,571.88 2,877.27 06/15/2053 518,571.88 107,100.24 15,864,969.01 7,809,826.95 Proceeds Summary Delivery date 04/20/2023 Par Value 7,855,000.00 Premium (Discount) -45,173.05 Target for yield calculation 7,809,826.95 Prepared by AMTEC (Finance 8.901) BOND DEBT SERVICE $7,855,000 Wellness Ridge Community Development District (Lake County, Florida) Special Assessment Bonds, Series 2023 (Assessment Area One) Period Annual Ending Principal Coupon Interest Debt Service Debt Service 04/20/2023 06/15/2023 61,769.01 61,769.01 61,769.01 12/15/2023 202,153.13 202,153.13 06/15/2024 120,000 4.250% 202,153.13 322,153.13 524,306.25 12/15/2024 199,603.13 199,603.13 06/15/2025 125,000 4.250% 199,603.13 324,603.13 524,206.25 12/15/2025 196,946.88 196,946.88 06/15/2026 130,000 4.250% 196,946.88 326,946.88 523,893.75 12/15/2026 194,184.38 194,184.38 06/15/2027 135,000 4.250% 194,184.38 329,184.38 523,368.75 12/15/2027 191,315.63 191,315.63 06/15/2028 140,000 4.250% 191,315.63 331,315.63 522,631.25 12/15/2028 188,340.63 188,340.63 06/15/2029 145,000 4.250% 188,340.63 333,340.63 521,681.25 12/15/2029 185,259.38 185,259.38 06/15/2030 155,000 4.250% 185,259.38 340,259.38 525,518.75 12/15/2030 181,965.63 181,965.63 06/15/2031 160,000 5.125% 181,965.63 341,965.63 523,931.25 12/15/2031 177,865.63 177,865.63 06/15/2032 170,000 5.125% 177,865.63 347,865.63 525,731.25 12/15/2032 173,509.38 173,509.38 06/15/2033 180,000 5.125% 173,509.38 353,509.38 527,018.75 12/15/2033 168,896.88 168,896.88 06/15/2034 185,000 5.125% 168,896.88 353,896.88 522,793.75 12/15/2034 164,156.25 164,156.25 06/15/2035 195,000 5.125% 164,156.25 359,156.25 523,312.50 12/15/2035 159,159.38 159,159.38 06/15/2036 205,000 5.125% 159,159.38 364,159.38 523,318.75 12/15/2036 153,906.25 153,906.25 06/15/2037 220,000 5.125% 153,906.25 373,906.25 527,812.50 12/15/2037 148,268.75 148,268.75 06/15/2038 230,000 5.125% 148,268.75 378,268.75 526,537.50 12/15/2038 142,375.00 142,375.00 06/15/2039 240,000 5.125% 142,375.00 382,375.00 524,750.00 12/15/2039 136,225.00 136,225.00 06/15/2040 255,000 5.125% 136,225.00 391,225.00 527,450.00 12/15/2040 129,690.63 129,690.63 06/15/2041 270,000 5.125% 129,690.63 399,690.63 529,381.25 12/15/2041 122,771.88 122,771.88 06/15/2042 280,000 5.125% 122,771.88 402,771.88 525,543.75 12/15/2042 115,596.88 115,596.88 06/15/2043 295,000 5.125% 115,596.88 410,596.88 526,193.75 12/15/2043 108,037.50 108,037.50 06/15/2044 310,000 5.375% 108,037.50 418,037.50 526,075.00 12/15/2044 99,706.25 99,706.25 06/15/2045 330,000 5.375% 99,706.25 429,706.25 529,412.50 12/15/2045 90,837.50 90,837.50 06/15/2046 350,000 5.375% 90,837.50 440,837.50 531,675.00 12/15/2046 81,431.25 81,431.25 06/15/2047 365,000 5.375% 81,431.25 446,431.25 527,862.50 12/15/2047 71,621.88 71,621.88 06/15/2048 385,000 5.375% 71,621.88 456,621.88 528,243.75 12/15/2048 61,275.00 61,275.00 06/15/2049 410,000 5.375% 61,275.00 471,275.00 532,550.00 12/15/2049 50,256.25 50,256.25 06/15/2050 430,000 5.375% 50,256.25 480,256.25 530,512.50 12/15/2050 38,700.00 38,700.00 06/15/2051 455,000 5.375% 38,700.00 493,700.00 532,400.00 Prepared by AMTEC (Finance 8.901) BOND DEBT SERVICE $7,855,000 Wellness Ridge Community Development District (Lake County, Florida) Special Assessment Bonds, Series 2023 (Assessment Area One) Period Annual Ending Principal Coupon Interest Debt Service Debt Service 12/15/2051 26,471.88 26,471.88 06/15/2052 480,000 5.375% 26,471.88 506,471.88 532,943.75 12/15/2052 13,571.88 13,571.88 06/15/2053 505,000 5.375% 13,571.88 518,571.88 532,143.75 7,855,000 8,009,969.01 15,864,969.01 15,864,969.01 $7,855,000 Wellness Ridge Community Development District (Lake County, Florida) Special Assessment Bonds, Series 2023 (Assessment Area One) Acquisition & Construction Fund ARBITRAGE REBATE CALCULATION DETAIL REPORT FUTURE VALUE @ RECEIPTS BOND YIELD OF DATE DESCRIPTION (PAYMENTS) (5.300082%) 04/20/23 Beg Bal -7,108,751.68 -8,316,643.96 06/02/23 -1,024.10 -1,190.82 06/27/23 7,118,556.72 8,247,429.19 07/05/23 -1,004.63 -1,162.59 08/02/23 -1,052.12 -1,212.78 09/05/23 -1,093.20 -1,254.11 10/03/23 -1,060.23 -1,211.35 10/27/23 57,618.49 65,601.80 05/02/24 -347.54 -385.20 ---------------------------------------------------------------- 04/20/26 TOTALS: 61,841.71 -10,029.82 ---------------------------------------------------------------- ISSUE DATE: 04/20/23 REBATABLE ARBITRAGE: -10,029.82 COMP DATE: 04/20/26 NET INCOME: 61,841.71 BOND YIELD: 5.300082% TAX INV YIELD: 4.644457% $7,855,000 Wellness Ridge Community Development District (Lake County, Florida) Special Assessment Bonds, Series 2023 (Assessment Area One) Reserve Fund ARBITRAGE REBATE CALCULATION DETAIL REPORT FUTURE VALUE @ RECEIPTS BOND YIELD OF DATE DESCRIPTION (PAYMENTS) (5.300082%) 04/20/23 Beg Bal -261,231.26 -305,618.69 05/02/23 347.54 405.88 06/02/23 1,024.10 1,190.82 07/05/23 1,004.63 1,162.59 08/02/23 1,052.12 1,212.78 09/05/23 1,093.20 1,254.11 10/03/23 1,060.23 1,211.35 11/02/23 1,099.44 1,250.86 12/04/23 1,067.72 1,209.14 01/03/24 1,102.79 1,243.60 02/02/24 1,098.24 1,233.26 03/04/24 1,020.79 1,140.97 04/02/24 1,091.33 1,214.87 05/02/24 1,054.77 1,169.06 06/04/24 1,091.12 1,203.74 07/02/24 1,056.48 1,160.79 08/02/24 1,091.01 1,193.52 09/04/24 1,088.52 1,185.27 10/02/24 1,018.10 1,104.09 11/04/24 883.86 954.06 12/03/24 924.56 993.80 12/20/24 1.18 1.27 01/03/25 926.03 991.05 02/04/25 889.96 948.17 03/04/25 798.78 847.32 04/02/25 878.09 927.67 05/02/25 848.20 892.19 06/03/25 869.04 910.01 07/02/25 839.46 875.34 08/04/25 868.38 901.29 09/03/25 868.27 897.39 10/02/25 825.77 849.87 11/04/25 830.46 850.74 12/02/25 770.34 785.94 12/11/25 553.13 563.60 01/05/26 756.29 767.92 02/03/26 734.97 743.24 03/03/26 659.64 664.16 04/02/26 726.05 727.95 $7,855,000 Wellness Ridge Community Development District (Lake County, Florida) Special Assessment Bonds, Series 2023 (Assessment Area One) Reserve Fund ARBITRAGE REBATE CALCULATION DETAIL REPORT FUTURE VALUE @ RECEIPTS BOND YIELD OF DATE DESCRIPTION (PAYMENTS) (5.300082%) 04/20/26 Bal 260,678.13 260,678.13 04/20/26 Acc 467.19 467.19 ---------------------------------------------------------------- 04/20/26 TOTALS: 33,828.65 -7,633.69 ---------------------------------------------------------------- ISSUE DATE: 04/20/23 REBATABLE ARBITRAGE: -7,633.69 COMP DATE: 04/20/26 NET INCOME: 33,828.65 BOND YIELD: 5.300082% TAX INV YIELD: 4.376106% $7,855,000 Wellness Ridge Community Development District (Lake County, Florida) Special Assessment Bonds, Series 2023 (Assessment Area One) Capitalized Interest Fund ARBITRAGE REBATE CALCULATION DETAIL REPORT FUTURE VALUE @ RECEIPTS BOND YIELD OF DATE DESCRIPTION (PAYMENTS) (5.300082%) 04/20/23 Beg Bal -61,769.01 -72,264.57 05/02/23 82.18 95.98 06/02/23 242.15 281.57 06/15/23 61,769.01 71,689.34 07/05/23 110.53 127.91 ---------------------------------------------------------------- 04/20/26 TOTALS: 434.86 -69.77 ---------------------------------------------------------------- ISSUE DATE: 04/20/23 REBATABLE ARBITRAGE: -69.77 COMP DATE: 04/20/26 NET INCOME: 434.86 BOND YIELD: 5.300082% TAX INV YIELD: 4.651210% $7,855,000 Wellness Ridge Community Development District (Lake County, Florida) Special Assessment Bonds, Series 2023 (Assessment Area One) Cost of Issuance Fund ARBITRAGE REBATE CALCULATION DETAIL REPORT FUTURE VALUE @ RECEIPTS BOND YIELD OF DATE DESCRIPTION (PAYMENTS) (5.300082%) 04/20/23 Beg Bal -220,975.00 -258,522.24 04/20/23 55,000.00 64,345.39 04/20/23 54,500.00 63,760.43 04/20/23 52,500.00 61,420.60 04/20/23 30,000.00 35,097.49 04/20/23 6,000.00 7,019.50 04/20/23 1,750.00 2,047.35 04/24/23 6,125.00 7,161.57 05/11/23 15,000.00 17,495.28 10/26/23 144.54 164.59 ---------------------------------------------------------------- 04/20/26 TOTALS: 44.54 -10.03 ---------------------------------------------------------------- ISSUE DATE: 04/20/23 REBATABLE ARBITRAGE: -10.03 COMP DATE: 04/20/26 NET INCOME: 44.54 BOND YIELD: 5.300082% TAX INV YIELD: 4.433314% $7,855,000 Wellness Ridge Community Development District (Lake County, Florida) Special Assessment Bonds, Series 2023 (Assessment Area One) Rebate Computation Credits ARBITRAGE REBATE CALCULATION DETAIL REPORT FUTURE VALUE @ RECEIPTS BOND YIELD OF DATE DESCRIPTION (PAYMENTS) (5.300082%) 04/20/24 -2,070.00 -2,298.30 04/20/25 -2,120.00 -2,233.85 04/20/26 -2,170.00 -2,170.00 ---------------------------------------------------------------- 04/20/26 TOTALS: -6,360.00 -6,702.15 ---------------------------------------------------------------- ISSUE DATE: 04/20/23 REBATABLE ARBITRAGE: -6,702.15 COMP DATE: 04/20/26 BOND YIELD: 5.300082%