NextPlat Issues CEO Shareholder Update Letter

Company Secures New Healthcare Contracts, Implements Additional Cost Reductions and Launches New AI Powered Proprietary Healthcare Management Software and Consumer Health Products

HALLANDALE BEACH, Fla., Oct. 8, 2025 /PRNewswire/ -- NextPlat Corp (NASDAQ: NXPL) (NASDAQ: NXPLW) ("NextPlat" or the "Company"), a global consumer products and services company providing healthcare and technology solutions through e-commerce and retail channels worldwide, today issued the following Shareholder Update Letter:

To Our Shareholders:

As we enter the final quarter of 2025, we are writing to you to provide our latest update on the notable progress we have achieved in our plans to deliver improved customer support, financial performance and drive long-term growth.

Operational Developments

The primary focus of our leadership and the Board is to ensure our business is managed effectively for the long-term benefit of our collective stakeholders – our customers, our patients, our employees and our shareholders. Following my appointment as Interim CEO in late May, and as outlined in my interim update back in June, we conducted a comprehensive top-to-bottom review of the business and created and implemented a strategic plan designed to address both the near-term challenges and future opportunities we see for NextPlat. It was clear that we needed to significantly reduce corporate overheads, recruit additional healthcare leadership, and reevaluate every operational aspect of the business. As of today, I am pleased to report that we have now made significant progress on these critical points:

Business Development and Growth

While reducing costs is central to our plan, supporting growth is also a critical element so I want to provide some insights on this.

NextPlat's business model is built around three core channels: Healthcare services through our PharmcoRx pharmacies; Communications products and services through our Global Telesat, Orbital Satcom and Outfitter Satellite subsidiaries; and our E-Commerce Development Program supporting the sales of U.S.-produced products into the vast Chinese market. I am pleased to report that over the past few months, significant progress has been achieved in each of these channels:

For Our Shareholders

In addition to the activities outlined in this update letter, our team continues to execute across several business and product development and operational initiatives we believe have the potential to contribute to shareholder value over the long term. Some developments here to note include:

In conclusion, while challenges remain in the shorter-term, as evidenced by this CEO Update and our recent press releases, we are diligently making progress on our plans to drive measurable value for all our stakeholders and wish to thank our partners, customers, employees, and investors for their support. As a team, we intend to continue to honor our commitments to greater engagement and transparency in the months ahead and look forward to sharing additional updates on the progress we are making.

Sincerely,

David Phipps

Chief Executive Officer

About NextPlat Corp

NextPlat is a global consumer products and services company providing healthcare and technology solutions through e-Commerce and retail channels worldwide. Through acquisitions, joint ventures, and collaborations, the Company seeks to assist businesses in selling their goods online, domestically, and internationally, allowing customers and partners to optimize their e-Commerce presence and revenue. NextPlat currently operates an e-Commerce communications division offering voice, data, tracking, and IoT products and services worldwide as well as pharmacy and healthcare data management services in the United States through its subsidiary, Progressive Care.

Forward-Looking Statements

Certain statements in this release constitute forward-looking statements. These statements include the capabilities and success of the Company's business and any of its products, services or solutions. The words "believe," "forecast," "project," "intend," "expect," "plan," "should," "would," and similar expressions and all statements, which are not historical facts, are intended to identify forward-looking statements. These forward-looking statements involve and are subject to known and unknown risks, uncertainties and other factors, including the Company's ability to launch additional e-commerce capabilities for consumer and healthcare products and its ability to grow and expand as intended, any of which could cause the Company to not achieve some or all of its goals or the Company's previously reported actual results, performance (finance or operating), including those expressed or implied by such forward-looking statements. More detailed information about the Company and the risk factors that may affect the realization of forward-looking statements is set forth in the Company's filings with the Securities and Exchange Commission (the "SEC"), copies of which may be obtained from the SEC's website at www.sec.gov. The Company assumes no, and hereby disclaims any, obligation to update the forward-looking statements contained in this press release.

Media and Investor Contact for NextPlat Corp:

Michael Glickman

MWGCO, Inc.

917-397-2272

mike@mwgco.net

SOURCE NextPlat Corp.