Neptune Wellness begins Phase II of comprehensive review of the company

Neptune Wellness Solutions announced that its Board of Directors has initiated Phase II of a comprehensive review and evaluation of strategic options for the Company to unlock and maximize shareholder value. This phase will encompass consideration of all available strategic business and financial alternatives, which may include, but is not limited to, the monetization of assets, strategic partnerships, and/or the acquisition of the remaining parts of Sprout Organics through an equity/debt transaction. The Board anticipates it will conclude this review and announce the strategic plan by Q1 or Q2 of 2024, with the intent to take action before the end of the calendar year. However, there is no assurance that this process will result in any specific transaction or that any transaction will be successful. There is also no assurance as to the specific terms or timing for any agreed transaction if one were to result. The Company does not plan to make further comment or disclosures regarding this review until required by law or otherwise deemed appropriate.