18 November 2015

Dear Warrnambool Veterinary Client,

Since 1978 Warrnambool Veterinary has focused on providing the highest quality veterinary services for dairy, farm, equine and domestic pets on-farm and via our clinics based at Warrnambool, Koroit, Port Fairy and Nullawarre and is recognised as a leader in innovation, actively engaging the various levels of industry to continually improve and advance the level of service provided.

Our clients’ needs and expectations are the motivating force behind our quest for continual improvement. To this end, the Directors of Warrnambool Veterinary have been in discussion with a number of very successful and well-regarded clinics across Australia about the potential to enter in to a mutually beneficial commercial agreement.

The discussions have resulted in the formation of an entity, a publicly listed company, known to investors as Apiam Animal Health Ltd. The company will continue to be majority owned by the existing veterinary clinics’ directors.

The aim of this company is to provide increased resources and infrastructure to support the individual practices that make up the group allowing them to do what they do now, but even better, and to grow and develop their services still further to meet the evolving needs of their clients.

Under such a structure, the day-to-day management, culture, and operations of Warrnambool Veterinary will not change. Our service delivery will not change unless, of course, that change is for the better. The Warrnambool Veterinary name, logo, building and brand will not change.

The only change will be our increased capacity to grow and refine our services to meet our clients changing needs, particularly across the dairy industry.

The real beneficiaries of the new company structure will be Warrnambool Veterinary clients who will have their needs serviced by the same proactive, experienced people that they know and trust, backed by a superior framework of resources and infrastructure.

Warrnambool Veterinary ‘s aim has always been to deliver superior veterinary services to our clients and their animals. The formation of a commercial agreement with like-minded clinics will ensure that Warrnambool Veterinary lives up to its promise now and into the future.

If you have any questions about this exciting development, please call us on 5561 2255.

The Apiam Animal Health Prospectus can be viewed via the Investors  page on the Apiam Animal Health website.

Yours sincerely,

Dr Charlie Blackwood | Dr Glenn Cuzens | Dr Anthony Down | Dr Michael Hamblin
Dr Stephen Jagoe | Dr Jon Kelly | Dr Mark Lewis | Dr Michael Wraight