1

Market Leading Positions

We are a global leader in veterinary endocrinology and topical dermatology, have the broadest portfolio of pain and analgesia pharmaceuticals, and we are also recognised as innovators in other specialisations such as equine lameness, nutrition and differentiated generics (generic plus).

2

Well Recognised Brand

We are recognised as a global animal healthcare company with a strong and grow-fluiding reputation as a provider of high quality, specialist veterinary medicines and related products.

3

Expertise in Key Therapeutic Areas

We support our customers in our key therapeutic areas with technical helplines, continued education through online learning, webinars and lectures by key opinion leaders.

4

Balance Sheet Strength/Group’s Cash Generative Power

The Group targets 100% cash generation and this strong cash generation allows us to pay down debt quickly, resulting in a strong balance sheet which enables us to fund internally the majority of our strategic opportunities.

5

Successful Acquisition History

In January 2008 we made our first major acquisition which, at the time, was transformational to our EU Pharmaceuticals business. We have successfully replicated the model since then on several occasions and have consistently delivered pre-acquisition strategic and financial expectations on significant transactions.

6

New Product Development Pipeline

We have a strong pipeline of novel pharmaceuticals, generic pharmaceuticals and a specialist nutrition range with a track record of pipeline delivery. We are proactive in recognising and bringing new development opportunities into the portfolio.

7

Manufacturing

Our manufacturing sites offer a wide range of dosage forms and packaging capabilities which can be produced in small to large-scale production batches. This flexibility is a key requirement in producing our varied product portfolio.

8

Skilled People

We have attracted and retained a qualified and skilled workforce throughout the organisation. This stable and motivated team has many years’ experience within the markets we serve. Our people strategy is underpinned by the Dechra Values.

9

Key Relationships

Our relationships with all key stakeholders are very important to the Group. Our sales approach revolves around partnership with key practice groups, individual veterinarians, key opinion leaders and distributors. The relationship with our supply chain partners is also important to establish continuity of supply. Furthermore, our networking within the industry is a key driver in finding new product development and acquisition opportunities.

10

Our Global Footprint

Our historic strength was developing a strong position in the key companion animal markets of Western Europe and North America. However, over recent years we have extended our geographical footprint through greenfield start ups and acquisition in targeted new countries. We are also looking to further extend our footprint, as international expansion is one of our four key strategic objectives.