Neptune Provides Corporate Updates and Discusses 2020 Initiatives

Neptune Wellness Solutions Inc. ('Neptune' or the 'Company') (Nasdaq: NEPT) (TSX: NEPT), a health and wellness company focused on extraction, purification and formulation of cannabinoids, would like to provide the following corporate updates and outlook ahead of its participation at the Annual ICR Conference in Orlando, Florida being held on January 13-15, 2020, where Neptune's CEO, Michael Cammarata, will present and meet with investors.

Consumer Brands Initiatives

Several efforts have been deployed internally to accelerate the Company's growth in the B2C markets. The official launch of the Forest Remedies brand is expected to occur in February 2020, supported by a public relations campaign and a marketing campaign under our partnership with American Media LLC. The launch will consist of hemp-derived wellness products including ingestibles, such as soft gels and oils, topicals and a pet soother. The Forest Remedies brand launch will also include aromatherapy products developed in collaboration with International Flavors & Fragrances Inc. ('IFF'). Neptune will first launch Forest Remedies online and expects the brand to be available at U.S. retailers shortly thereafter. A media event will be held this spring at IFF's headquarters to celebrate the brand's debut.

About Neptune Wellness Solutions Inc.

Neptune Wellness Solutions specializes in the extraction, purification and formulation of health and wellness products. The Company has in excess of 100 customers across several verticals including legal cannabis and hemp, nutraceutical and consumer packaged goods. Neptune's wholly owned subsidiary, 9354-7537 Quebec Inc., is licensed by Health Canada to process cannabis at its 50,000-square-foot facility located in Sherbrooke, Quebec. The Company also has a 24,000 square-foot facility located in North Carolina to process hemp biomass into extracts. Neptune brings decades of experience in the natural products sector to the legal cannabis and hemp industries. Leveraging its scientific and technological expertise, the Company sees applications for hemp-derived extracts in the U.S. beyond existing markets and product forms and into personal care and home care markets. Neptune's activities also include the development and commercialization of turnkey nutrition solutions and patented ingredients such as MaxSimil and a variety of marine and seed oils. Its head office is located in Laval, Quebec.

Forward Looking Statements

Statements in this press release that are not statements of historical or current fact constitute 'forwardlooking statements' within the meaning of the U.S. securities laws and Canadian securities laws. Such forward-looking statements involve known and unknown risks, uncertainties, and other unknown factors that could cause the actual results of Neptune to be materially different from historical results or from any future results expressed or implied by such forward-looking statements. In addition to statements which explicitly describe such risks and uncertainties, readers are urged to consider statements labeled with the terms 'believes', 'belief', 'expects', 'intends', 'projects', 'anticipates', 'will', 'should' or 'plans,' or which refer to expectations, projections or other characterizations of future events or circumstances, to be uncertain and forward-looking. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release. The forward-looking statements contained in this press release are expressly qualified in their entirety by this cautionary statement and the 'Cautionary Note Regarding Forward-Looking Information' section contained in Neptune's latest Annual Information Form (the 'AIF'), which also forms part of Neptune's latest annual report on Form 40-F, and which is available on SEDAR at www.sedar.com, on EDGAR at www.sec.gov/edgar.html and on the investor section of Neptune's website at www.neptunecorp.com. All forward-looking statements in this press release are made as of the date of this press release. Neptune does not undertake to update any such forward-looking statements whether as a result of new information, future events or otherwise, except as required by law. The forward-looking statements contained herein are also subject generally to other risks and uncertainties that are described from time to time in Neptune's public securities filings with the Securities and Exchange Commission and the Canadian securities commissions. Additional information about these assumptions and risks and uncertainties is contained in the AIF under 'Risk Factors'.

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