Response to CMA provisional decision announcement.

For immediate release                                                                                                                               15 October 2025

CVS Group plc

("CVS" or the "Company" and, together with its subsidiaries, the "Group")

Response to CMA provisional decision announcement

CVS notes this morning's publication by the Competition and Markets Authority ("CMA") of the summary of its provisional decision in the veterinary market investigation. The CMA is expected to publish its full provisional decision later today.

CVS welcomes the additional certainty that this morning's announcement brings. We will be responding to the provisional decision and proposed remedies package in writing in due course and have a further hearing with the CMA in December 2025. We look forward to the publication of the final decision in March 2026 and conclusion of this market investigation promptly thereafter.

We are pleased to see that the CMA has considered our and the veterinary profession's feedback on the initial 28 remedies proposed in May 2025, which have been refined to 21 with no new remedies introduced. Whilst we do not believe that all of these remedies are fully justified, we will be working with the CMA to refine the remedies package to ensure it is workable and deliverable and have plans in place to implement them, including joint branding of our practices and the publishing of standardised price lists.

As such, the Board continues to expect the Group to trade in line with market expectations.

Contacts

CVS Group plc                                                                                                                                                         via Camarco

Richard Fairman, Chief Executive Officer

Robin Alfonso, Chief Financial Officer

Paul Higgs, Chief Veterinary Officer

Charlotte Page, Head of Investor Relations

Peel Hunt LLP (Nominated Adviser & Joint Broker)                                                                                +44 (0)20 7418 8900

Christopher Golden / James Steel / Andrew Clark

Berenberg (Joint Broker)                                                                                                                            +44 (0)20 3207 7800

Toby Flaux / Michael Burke / Milo Bonser / Brooke Harris-Lowing

Camarco (Financial PR)                                                                                            

Ginny Pulbrook                                                                                                                                             cvsg@camarco.co.uk 

Letaba Rimell

Tilly Butcher

About CVS Group plc (www.cvsukltd.co.uk)

CVS Group is an AIM-listed provider of veterinary services with operations in the UK and Australia.  CVS is focused on providing high-quality clinical services to its clients and their animals, with outstanding and dedicated clinical teams and support colleagues at the core of its strategy.

The Group now operates c.470 veterinary practices across its two territories, including specialist referral hospitals and dedicated out-of-hours sites. Alongside the core Veterinary Practices division, CVS operates Laboratories (providing diagnostic services to CVS and third-parties) and an online retail business ("Animed Direct").

The Group employs c.8,900 personnel, including c.2,400 veterinary surgeons and c.3,300 nurses.