Commencement of Share Buyback Programme

As separately announced today, CVS, the UK listed veterinary group and a leading provider of veterinary services, is launching a share buyback programme to purchase ordinary shares of 0.2 pence each ("Ordinary Shares") and has allocated up to £50 million to the buyback programme (the "Share Buyback Programme").

The purpose of the Share Buyback Programme is to both return surplus capital to shareholders and reduce the Group's share capital pursuant to its capital allocation policy. As such, all Ordinary Shares repurchased by the Group under the Share Buyback Programme will be cancelled.

CVS has entered into agreements with each of Peel Hunt LLP ("Peel Hunt") and Joh. Berenberg, Gossler & Co. KG, London Branch ("Berenberg") to purchase Ordinary Shares up to a maximum aggregate consideration (excluding expenses) of up to £50 million under the Share Buyback Programme. Peel Hunt and Berenberg will act as riskless principals and will make trading decisions concerning the timing of the purchases of Ordinary Shares independently of the Company.

The purchase of Ordinary Shares will be carried out on the London Stock Exchange and other trading venues. Any purchases of Ordinary Shares by the Company will be conducted in accordance with the general authority to purchase Ordinary Shares granted by its shareholders at the Company's Annual General Meeting on 18 November 2025, pursuant to which the maximum number of shares which remain available for purchase under the Share Buyback Programme is 6,040,012. The Share Buyback Programme will be conducted in accordance with Chapter 9 of the Financial Conduct Authority's Listing Rules and with European Union (EU) Regulation No 596/2014 ("MAR") and the MAR buyback technical standards (Commission Delegated Regulation (EU) 2016/1052) (the "Technical Standards"), both of which form part of Retained EU Law as defined in the European Union (Withdrawal) Act 2018.

Any purchase of Shares pursuant to the Share Buyback Programme will be announced by no later than the end of the 7th daily market session following the calendar day on which such transaction occurred, as required by MAR.

The Share Buyback Programme is expected to be completed by 24 November 2026.