Procaps Issues Shareholder Letter From New CEO, Says "Immediate Actions Will Be Implemented To Fortify Our Cash And Financial Position In The Short Term."

Procaps Group (NASDAQ:PROC) ("Procaps" or the "Company"), a leading integrated LatAm healthcare and pharmaceutical conglomerate, today issued a letter to shareholders from Jose Vieira, CEO of Procaps.

Dear Shareholders,

I am honored to address you as the newly appointed CEO of Procaps Group. In my initial three weeks, I have immersed myself in understanding the intricacies of Procaps Group. This journey involves recognizing its unique strengths, identifying areas for improvement, and, most importantly, pinpointing avenues for growth.

My commitment to this amazing company is unwavering, and my goal is to further strengthen our culture of transparency, innovation, and collaboration, fostering a winning attitude across the organization in all circumstances.

I firmly believe that to move forward successfully, we must look back, learn from our mistakes, and address any deficiencies. However, in this highly competitive environment, our primary focus should be on the future. Our collective energy needs to be directed towards building not just any future, but a better one.

As part of my first 100-day plan, during which I will collaborate with the company to formulate a detailed strategic plan, I want to assure you of my commitment and dedication to steering Procaps towards consistent growth, optimal cash management, and predictable profitability. Immediate actions will be implemented to fortify our cash and financial position in the short term.

Throughout the upcoming months, I will keep you informed and engaged in this journey. Your insights and perspectives as stakeholders are invaluable to me, and I encourage open communication.

I extend my gratitude for the support received thus far from all employees and our Board of Directors with whom I've had the opportunity to interact. Looking forward, I am excited about the opportunities and challenges that lie ahead. With a clear strategy in development and short-term measures being implemented, I am confident that Procaps will experience sustainable growth and create shareholder value.

I am optimistic about our path forward and committed to making Procaps a better company for each of our more than 5,000 employees across the region. We will continue to navigate the complexities of our industry leveraging our many strengths and firmly and quickly addressing our areas of improvement. As we progress, my dedication remains steadfast in upholding your interests and delivering on our promises.

Sincerely,

Jose Vieira

CEO Procaps Group