Procaps S A : Investor Presentation – J.P. Morgan Healthcare Conference

One of the fastest growing and innovative Pharma organizations in Latin America

JP Morgan Healthcare

Conference

January 10, 2023

NASDAQ: PROC

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DISCLAIMER

Projections

This presentation was prepared for informational purposes only by Procaps Group, S.A., a public limited liability company (société anonyme) governed by the laws of the Grand Duchy of Luxembourg (the "Company") and contains financial forecasts with respect to certain financial metrics of Procaps. The independent registered public accounting firm of Procaps has not audited, reviewed, compiled, or performed any procedures with respect to the projections for the purpose of their inclusion in this presentation, and accordingly, neither of them expressed an opinion or provided any other form of assurance with respect thereto for the purpose of this presentation. The financial forecasts and projections in this presentation were prepared by the management of Procaps, and these financial forecasts and projections should not be relied upon as being necessarily indicative of future results. Procaps does not undertake any commitment to update or revise the projections, whether as a result of new information, future events, or otherwise. In this presentation, certain of the above-mentioned projected information has been repeated (in each case, with an indication that the information is an estimate and is subject to the qualifications presented herein), for purposes of providing comparisons with historical data. The assumptions and estimates underlying the prospective financial information are inherently uncertain and are subject to a wide variety of significant business, economic, and competitive risks and uncertainties that could cause actual results to differ materially from those contained in the prospective financial information. Accordingly, there can be no assurance that the prospective forecasts are indicative of the future performance of Procaps or that actual results will not differ materially from those presented in the prospective financial information. Inclusion of the prospective financial information in this presentation should not be regarded as a representation by any person that the results contained in the prospective financial information will be achieved.

Forward Looking Statements

This presentation includes "forward-looking statements." Forward-looking statements may be identified by the use of words such as "forecast," "intend," "seek," "target," "anticipate," "believe," "expect," "estimate," "plan," "outlook," and "project" and other similar expressions that predict or indicate future events or trends or that are not statements of historical matters. Such forward-looking statements include projected financial information. Such forward-looking statements with respect to revenues, earnings, performance, strategies, synergies, prospects, and other aspects of the businesses of Procaps are based on current expectations that are subject to risks and uncertainties. A number of factors could cause actual results or outcomes to differ materially from those indicated by such forward-looking statements. These factors include, but are not limited to: (1) whether the Company enters into a new definitive agreement with respect to an acquisition of, and if so, the inability to recognize the anticipated benefits of any such potential acquisition of AI Soar (Netherlands) BV ("Somar Holding"), Química y Farmacia S.A. de C.V. ("Quifa"), PDM Acondifarma S.A. de C.V. ("PDM"), Gelcaps Exportadora de México S.A. de C.V. ("Gelcaps"), and Grupo Farmacéutico Somar S.A.P.I. de C.V. ("Somar", and together with Somar Holding, Quifa, PDM and Gelcaps, collectively, "Grupo Somar") which may be affected by, among other things, competition, and the ability of the combined business to grow and manage growth profitably, or of any merger or acquisition contemplated by the Company; (2) the inability to successfully retain or recruits officers, key employees, or directors; (3) effects on Procaps' public securities' liquidity and trading; (4) the lack of a market for Procaps' securities; (5) changes in applicable laws or regulations; (6) the possibility that Procaps may be adversely affected by other economic, business, and/or competitive factors; and (7) other risks and uncertainties indicated from time to time in documents filed or to be filed with the Securities and Exchange Commission ("SEC") by Procaps. Accordingly, forward-looking statements, including any projections or analysis, should not be viewed as factual and should not be relied upon as an accurate prediction of future results. The forward-looking statements contained in this presentation are based on our current expectations and beliefs concerning future developments and their potential effects on Procaps. These forward-looking statements involve a number of risks, uncertainties (some of which are beyond our control), or other assumptions that may cause actual results or performance to be materially different from those expressed or implied by these forward-looking statements. These risks and uncertainties include, but are not limited to, the ability to recognize the anticipated benefits of any acquisitions contemplated or pursued by the Company, the impact of COVID-19 on Procaps' business, changes in applicable laws or regulations, the possibility that Procaps may be adversely affected by other economic, business, and/or competitive factors, and other risks and uncertainties, including those included under the header "Risk Factors" in Procaps' annual report on Form 20-F filed with the SEC, as well as Procaps' other filings with the SEC. Should one or more of these risks or uncertainties materialize, or should any of our assumptions prove incorrect, actual results may vary in material respects from those projected in these forward-looking statements. We undertake no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required under applicable securities laws. Accordingly, you should not put undue reliance on these statements.

IFRS Financial Information

The financial statement information and data for Procaps contained in this presentation have been prepared in accordance with the International Financial Reporting Standards ("IFRS") issued by the International Accounting Standards Board. Certain amounts included herein have been expressed in U.S. dollars for convenience and, when expressed in U.S. dollars in the future, such amounts may be different from those set forth herein.

Use of Non-IFRS Financial Measures

This presentation includes non-IFRS financial measures, including Adjusted EBITDA and EBITDA. Management believes that these non-IFRS measures of financial results provide useful information to management and investors regarding certain financial and business trends relating to Procaps' financial condition and results of operations. Procaps believes that the use of these non-IFRS financial measures provide an additional tool for investors to use in evaluating ongoing operating results and trends. Management does not consider these non-IFRS measures in isolation or as an alternative to financial measures determined in accordance with IFRS. Other companies may calculate non-IFRS measures differently, and therefore the non-IFRS measures of Procaps included in this presentation may not be directly comparable to similarly titled measures of other companies. Certain amounts included herein have been expressed in U.S. dollars for convenience and, when expressed in U.S. dollars in the future, such amounts may be different from those set forth herein.

Industry Data, Trademarks and Trade names

In this presentation, Procaps relies on and refers to information and statistics regarding the sectors in which Procaps competes and other industry data. Procaps obtained this information and statistics from third-party sources, including reports by market research firms. Procaps has not independently verified the accuracy or completeness of the data contained in these third-party sources and other publicly available information. Accordingly, neither Procaps nor its affiliates and advisors make any representations as to the accuracy or completeness of these data. Procaps has supplemented this information where necessary with information from Procaps' own internal estimates, taking into account publicly available information about other industry participants and Procaps' management's best view as to information that is not publicly available. Procaps also owns or has rights to various trademarks, service marks and trade names that it uses in connection with the operation of its businesses. This presentation also contains trademarks, service marks and trade names of third parties, which are the property of their respective owners. The use or display of third parties' trademarks, service marks, trade names or products in this presentation is not intended to, and does not imply a relationship with Procaps, or an endorsement or sponsorship by or of Procaps. All rights to the trademarks, copyrights, logos and other intellectual property listed herein belong to their respective owners and Procaps' use thereof does not imply an affiliation with, or endorsement by the owners of such trademarks, copyrights, logos and other intellectual property. Solely for convenience, the trademarks, service marks and trade names referred to in this presentation may appear without the ®, TM or SM symbols, but such references are not intended to indicate, in any way, that Procaps will not assert, to the fullest extent under applicable law, its rights or the right of the applicable licensor to these trademarks, service marks and trade names.

No offer or solicitation

This presentation is for informational purposes only and is neither an offer to purchase, nor a solicitation of an offer to sell, subscribe for or buy any securities in any jurisdiction, nor shall there be any sale, issuance or transfer of securities in any jurisdiction in contravention of applicable law. No offer of securities shall be made except by means of a prospectus meeting the requirements

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AGENDA

1. Procaps at a Glance

1. Growth Strategy III. 2023 Plan

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Procaps at a Glance

45+ years of experience

Leading organization with differentiated oral pharma solutions in Latin America

~420M+ total net revenues in LTM22, ~70% B2C and ~30% B2B

Top 3 globally in terms of softgel production capacity

• Largest pharmaceutical integral CDMO in LatAm

6 plants in Colombia, Brazil and El Salvador and 2 new plants in the US

We export to 50+ countries and are present in 13 countries in the Americas

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What makes Procaps Unique

Right place ("Our North is our South")…

Latin America & Caribbean

Pharma market size1: ~$58bn

2018-2022 CAGR: 8%

Population: ~660mm

Africa / Asia / Australia (ex. Japan) Pharma market size: ~$272bn 2018-2022CAGR: 6% Population: ~6bn

Japan

Pharma market size: ~$96bn

2018-2022 CAGR: (2%)

Population: ~126mm

North America (ex. Mexico)

Pharma market size: ~$515bn

2018-2022 CAGR2: 5%

Population: ~371mm

Source: Procaps, IQVIA, AstraZeneca Annual Report

Note: (1) Pharma market sales data as of 2018, World pharmaceutical market worth an estimated $1,063 billion; (2) Includes Mexico only for the CAGR calculation.

Europe

Pharma market size: ~$265bn

2018 - 2022 CAGR: 4%

Population: ~748mm