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| PATTERSON COMPANIES | 1031 Mendota Heights Road | Saint Paul, MN 55120 |
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NEWS RELEASE |
About Patterson Companies Inc.
Patterson Companies Inc. (Nasdaq: PDCO) connects dental and animal health customers in North America and the U.K. to the latest products,
technologies, services and innovative business solutions that enable operational and professional success. Our comprehensive portfolio, distribution network and supply chain is equaled only by our dedicated, knowledgeable people who deliver
unrivalled expertise and unmatched customer service and support.
Learn more: pattersoncompanies.com
Forward-Looking Statements
This press release contains
statements that are forward-looking statements within the meaning of the federal securities laws. Forward-looking statements include information concerning the proposed merger and the ability to consummate the proposed merger, our liquidity and our
possible or assumed future results of operations, including descriptions of our business strategies. These statements often include words such as “believe,” “expect,” “project,” “potential,”
“anticipate,” “intend,” “plan,” “estimate,” “seek,” “will,” “may,” “would,” “should,” “could,” “forecasts” or similar words
These statements are based on certain assumptions that we have made in light of our experience in the industry as well as our perceptions of historical
trends, current conditions, expected future developments and other factors we believe are appropriate in these circumstances. We believe these assumptions are reasonable, but you should understand that these statements are not guarantees of
performance or results, and our actual results could differ materially from those expressed in the forward-looking statements due to a variety of important factors, both positive and negative, that may be revised or supplemented in subsequent
releases or reports.
These statements involve risks, estimates, assumptions, and uncertainties that could cause actual results to differ materially from
those expressed in these statements and elsewhere in this release. These uncertainties include, but are not limited to, the inability to consummate the merger within the anticipated time period, or at all, due to any reason, including the failure to
obtain required regulatory and shareholder approvals, satisfy the other conditions to the consummation of the merger or complete necessary financing arrangements; the risk that the merger disrupts our current plans and operations or diverts
management’s attention from its ongoing business; the effects of the merger on our business, operating results, and ability to retain and hire key personnel and maintain relationships with customers, suppliers and others with whom we do
business; the risk that our stock price may decline significantly if the merger is not consummated; the nature, cost and outcome of any legal proceedings related to the merger; our dependence on suppliers to manufacture and supply substantially all
of the products we sell; potential disruption of distribution capabilities, including service issues with third-party shippers; our dependence on relationships with sales representatives and service technicians to retain customers and develop
business; risks of selling private label products, including the risk of adversely affecting our relationships with suppliers; adverse changes in supplier rebates or other purchasing incentives; the risk of technological and market obsolescence for
the products we sell; the risk of failing to innovate and develop new and enhanced software and e-services products; our dependence on positive perceptions of Patterson’s reputation; risks
associated with illicit human use of pharmaceutical products we distribute; risks inherent in acquiring and disposing of assets or other businesses and risks inherent in integrating acquired businesses; turnover or loss of key personnel or highly
skilled employees; risks associated with information systems, software products and cyber-security attacks; risks inherent in our growing use of artificial intelligence systems to automate processes and analyze data; adverse impacts of wide-spread
public health concerns as we experienced with the COVID-19 pandemic and may experience in the future; risks related to climate change; our ability to comply with restrictive covenants and other
limits in our credit agreement; the risk that our governing documents and Minnesota law may discourage takeovers and business combinations; the effects of the highly competitive dental and animal health supply markets in which we compete; the
effects of consolidation within the dental and animal health supply markets; risks from the formation or expansion of GPOs, provider networks and buying groups that may place us at a competitive disadvantage; exposure to the risks of the animal
production business, including changing consumer demand, the cyclical livestock market, weather conditions, the availability of natural resources and other factors outside our control, and the risks of the companion animal business, including
