Vet nostrum

永沛國際生技股份有限公司

VETNOSTRUM ANIMAL HEALTH CO., LTD.

股票代碼

6936

2026 MEETING HANDBOOK

General Shareholders' Meeting

Time : 10:00 a.m., Friday, May 22, 2026

Venue : No. 290-3, Chung Lun, Chung Lun Village, Hsinfeng, Hsinchu

(Meeting Room on the 1st Floor on Vetnostrum Hsinchu Plant)

Meeting Agenda ... 2
Announcements ... 3
Ratifications ... 5
Elections ... 6
Discussions ... 7
Extempore Motions ... 8
Attachments ... 9
Attachment 1. The 2025 Business Report ... 10
Attachment 2. Audit Committee's Audit Report ... 14
Attachment 3. Audit Report and Financial Statements ... 15
Attachment 4. Schedule of Earnings Distribution ... 23
Attachment 5. Report on the 2025 Related Party Transaction ... 24
Attachment 6. Comparison Table of Amendments to the " Ethical Corporate Management Best Practice Principles" ... 25
Attachment 7. Comparison Table of Amendments to the " Procedures for Ethical Management and Guidelines for Conduct" ... 27
Attachment 8. Comparison Table of Amendments to the "Articles of Incorporation" ... 29
Attachment 9. Comparison Table of Amendments to the "Guidelines for Lending Funds to Others" ... 32
Attachment 10. List of Director and Independent Director Candidates ... 34
Attachment 11. Summary Table of Concurrent Positions Held by Director Candidates ... 38

Appendices
Appendix 1. " Ethical Corporate Management Best Practice Principles" (Before Amendment) ... 39
Appendix 2. "Procedures for Ethical Management and Guidelines for Conduct" (Before Amendment) ... 47
Appendix 3. "Articles of Incorporation" (Before Amendment) ... 56
Appendix 4. "Guidelines for Lending Funds to Others" (Before Amendment) ... 63
Appendix 5. Rules and Procedures for Shareholders' Meeting ... 69
Appendix 6. Director Election Procedure ... 84
Appendix 7. Description of the Proposal Screening Results Raised by Shareholders in This General Shareholders' Meeting ... 88
Appendix 8. Shareholding Status of the Directors ... 89

Chapter 1 Meeting Agenda

Time: 10 a.m., May 22, 2026 (Friday)

Venue: No. 290-3, Chung Lun, Chung Lun Village, Hsinfeng, Hsinchu, Taiwan. (1F conference room at Vetnostrum Hsinchu Plant)

Meeting Convening Method: Physical Shareholders' Meeting

I. Chairperson's Remarks

II. Announcements

(I) The 2025 Business Report.
(II) Audit Committee’s Review of the 2025 Final Accounts Report.
(III) Report on the 2025 Employees' and Directors' Compensation.
(IV) Report on the 2025 Related Party Transaction.
(V) Amendment to the Company's "Ethical Corporate Management Best Practice Principles".
(VI) Amendment to the Company's "Procedures for Ethical Management and Guidelines for Conduct".

III. Ratifications

(I) Adoption of the 2025 Business Report and Financial Statements.
(II) Adoption of the 2025 Earnings Distribution Proposal.

IV. Elections

(I) Proposal for the comprehensive election of Directors (including Independent Directors).

V. Discussions

(I) Amendments to Certain Articles of the Company's "Articles of Incorporation."
(II) Amendments to Certain Articles of the Company's "Guidelines for Lending Funds to Others."
(III) Discussion the Lifting of Non-competition Restrictions for Directors.

VI. Extempore Motions

VII. Adjournment

Chapter 2 Announcements:

Proposal 1 (Proposed by the board of directors)

Motion: The 2025 Business Report.

Description: Please refer to Attachment 1 (pages 10 to 13) of this handbook for the 2025 Business Report.

Proposal 2 (Proposed by the board of directors)

Motion: Audit Committee’s Review of the 2025 Final Accounts Report.

Description: Please refer to Attachment 2 (page 14) for Audit Committee's review report.

Proposal 3 (Proposed by the board of directors)

Motion: Report on the 2025 Employees' and Directors' Compensation.

Description:

(I) According to Article 40 of the Articles of Incorporation, if the Company makes any profits within a fiscal year, 1–4% of the profit shall be set aside as employee remuneration (including no less than 30% for salary adjustment or compensation of entry-level employees), and director compensation of no more than 1%. However, the Corporation shall have reserved a sufficient amount to offset its accumulated losses.

(II) For the year 2025, the Company provided employees' remuneration of NT$1,626,418 and directors' remuneration of NT$1,626,418, all of which was paid in cash.

Proposal 4 (Proposed by the board of directors)

Motion: Report on the 2025 Related Party Transaction.

Description: According to Article 9-1 of the Company's "Rules on Financial and Business Dealings between Related Parties," any sale, purchase, or rendering of labor or technical service with related parties that are expected to amount to 5% of the Company's latest consolidated total assets or consolidated operating revenues in the most recent year, and any distributorship, licensing, or contract of similar nature signed with a related party, shall be reported in the most recent shareholders' meeting after the end of a financial year. Please refer to Attachment 5 (page 24) of this handbook for related party transactions that took place in 2025.

Proposal 5 (Proposed by the board of directors)

Subject: Amendment to the Company's "Ethical Corporate Management Best Practice Principles".

Description: According to Paragraph 2, Article 17 of the current " Ethical Corporate Management Best Practice Principles for TWSE/TPEx Listed Companies ",the Legal and Intellectual Property Department is established as a dedicated unit for ethical business conduct. Please refer to Attachment 6 (page 25 to 26) of this handbook for comparison of existing and revised clauses.

Proposal 6 (Proposed by the board of directors)

Subject: Amendment to the Company's "Procedures for Ethical Management and Guidelines for Conduct".

Description: According to Paragraph 2, Article 17 of the current " Ethical Corporate Management Best Practice Principles for TWSE/TPEx Listed Companies ",the Legal and Intellectual Property Department is established as a dedicated unit for ethical business conduct. Please refer to Attachment 7 (page 27 to 28) of this handbook for comparison of existing and revised clauses.

Chapter 3 Ratifications:

Proposal 1 Proposal One (Proposed by the board of directors)

Subject: Adoption of the 2025 Business Report and Financial Statements.

Description:

(I) The Company's 2025 financial statements have been audited by Accountants Min-Ju Chao and Chia-Han Wu from KPMG Taiwan, by whom an audit report with unqualified opinion has been issued accordingly.

(II) The Audit Committee has completed review of the Company's 2025 Business Report and separate financial statements, and issued the Audit Committee's review report. Please refer to Attachments 1 and 3 of this handbook (pages 10 to 13 and 15 to 22).

(III) The motion is open for ratification.

Proposal 2 (Proposed by the board of directors)

Subject: Adoption of the 2025 Earnings Distribution Proposal.

Description:

(I) An earnings distribution statement is formulated according to Article 31 of the Articles of Incorporation, in which a proposal has been raised to distribute cash dividends totaling NT$109,934,040 (or NT$1.51 per share) to shareholders. Please refer to Attachment 4 (page 23) of this handbook for details.

(II) The cash dividends distributed are calculated based on the distribution ratio and rounded to the nearest dollar; the aggregate amount of dividends arising from fractional shares distributed that are less than NT$1 is counted into the Company's other income.

(III) The proposed ex-dividend date for cash dividends is June 9, 2026, and the book closure dates are from June 11, 2026, to June 15, 2026, with the record date of dividend distribution on June 15, 2026, and the issuance date of dividend distribution on July 10, 2026.

(IV) Should the Company encounter a change of share capital that changes the number of outstanding shares on a later date, the chairperson shall be fully authorized to make the necessary adjustments to the percentage of cash dividends allocated to shareholders.

(V) Upon review and approval by the Audit Committee, the proposal is submitted to the Board of Directors for resolution and for adoption at the 2026 Annual Shareholders' Meeting.

(VI) The motion is open for ratification.

Chapter 4 Elections:

Proposal 1 (Proposed by the board of directors)

Subject: Proposal for the comprehensive election of Directors (including Independent Directors).

Description:

(I) The term of office for the Company's 6th board of directors will expire on February 17, 2026, and according to regulations, a re-election will be proposed at the annual Shareholders' Meeting. To align with the timing of the 2026 Shareholders' Meeting, the term of the 6th board of directors will be extended until the newly elected directors take office.

(II) According to the Articles of Incorporation, this election will select 9 directors (including 4 independent directors) through the nomination system, where shareholders will elect from the list of director candidates. The 7th board of directors will assume office from the day of re-election, with the term beginning on May 22, 2026, and ending on May 21, 2029, with a term of three years.

(III) Please refer to Attachment 10 (pages 34 to 37) of this handbook for the List of Director and Independent Director Candidates.

(IV) The motion is open for Elections.

Chapter 5 Discussions:

Proposal 1 (Proposed by the board of directors)

Subject: Amendments to Certain Articles of the Company's "Articles of Incorporation."

Description:

(I) According to the "Operation Directions for Establishment of Board of Directors by Listed Companies and Exercise of Powers" and operational management needs, certain articles of the Corporation's Articles of Incorporation have been amended. Please refer to Attachment 8 (pages 29 to 31) of this handbook for the comparison of existing and revised clauses.

(II) The motion is ready for resolution.

Proposal 2 (Proposed by the board of directors)

Subject: Amendments to Certain Articles of the Company's "Guidelines for Lending Funds to Others."

Description:

(I) According to the "Regulations Governing Loaning of Funds and Making of Endorsements/Guarantees by Public Companies" and operational management needs, certain articles of the Corporation's "Guidelines for Lending Funds to Others" have been amended. Please refer to Attachment 9 (page 32 to 33) of this handbook for the comparison of existing and revised clauses.

(II) The motion is ready for resolution.

Proposal 3 (Proposed by the board of directors)

Subject: Discussion the Lifting of Non-competition Restrictions for Directors.

Description:

(I) In accordance with Article 209, paragraph 1 of the Company Act, "A director who engages in an act for themselves or on behalf of another party within the company's business scope shall explain the key details of such an act to the Shareholders' Meeting and obtain its approval."

(II) The candidates for Directors of the Company may hold positions in other companies and engage in activities that are the same as or similar to the business scope of the Company. It is proposed, within the scope of not violating the Company's interests, to seek the Shareholders' Meeting's consent to lift the non-compete restrictions on the Directors (including juristic persons and their representatives).

(III) Please refer to Attachment 11 (page 38) of this handbook for the Summary Table

of Concurrent Positions Held by Director Candidates.

(IV) The motion is ready for resolution.

Chapter 6 Extempore Motions

Chapter 7 Adjournment

9
Attachments

Attachment 1. The 2025 Business Report

Vetnostrum Animal Health Co., Ltd. Business Report

I. Operating Directions

Faced with the continuous growth of the global population, increasing nutritional demands, and evolving environmental and policy trends, livestock and aquaculture farming are advancing towards scalability, intelligence, and precision. Meanwhile, the companion animal market is also rapidly expanding in terms of investment in pet care and medical attention. Based on this long-term structural trend, Vetnostrum will continue to adopt a dual-track strategy for economic and companion animals by 2026, steadily deepening and expanding its product and service presence in the animal health sector.

In the economic animal sector, the company aligns with global trends of antibiotic reduction, low carbon emissions, and animal welfare policies, focusing on improving farming efficiency and food safety. It continues to develop zero-withdrawal-period drugs, non-drug feed additives, and various functional products to help clients enhance production efficiency and meet sustainable development requirements.

In the companion animal sector, the focus will remain on high-growth and high-demand areas for treatment and wellness. This includes developing differentiated and high-clinical-value drugs and health products, as well as strengthening collaboration with veterinary professional communities to offer integrated treatment and long-term health management solutions, addressing the needs of pet owners and veterinarians for specialized care.

To enhance overall competitiveness and ensure sustainable development, the important strategies to be continuously promoted by 2026 are as follows:

Continuously invest in research and development and product quality management to enhance product added value and differentiation.
Optimize capacity deployment and supply chain resilience to ensure product delivery stability and cost efficiency.
Promote the expansion of international markets by accelerating overseas market deployment through strategic partnerships and certifications.
Strengthen compliance with regulations, animal welfare, and environmental sustainability efforts to ensure the fulfillment of corporate social responsibility.
Develop intelligent AI products to implement precise medication and preventive healthcare. As the first animal pharmaceutical company in Taiwan to enter the capital market, Vetnostrum aims to ensure steady operations, continuously enhancing research and development capabilities and industry expertise. It will solidify its market foundation domestically while expanding its market reach with an international perspective, thereby creating a blueprint for sustainable and long-term competitive growth.

II. Progress Overview

Vetnostrum possesses a total of 336 animal drug permits and feed (additive) manufacturing licenses. This includes 54 international permits; 30 of which are animal drug permits whereas the other 24 are feed (additive) manufacturing licenses. Vetnostrum exports primarily to Indonesia, Malaysia, Thailand, The Philippines, Vietnam, Cambodia, Kazakhstan, and Ecuador, and the exports are supported mainly by animal drug permits. Vetnostrum holds a total of 282 domestic permits, including 183 animal drug permits and 99 feed (additive) manufacturing licenses. Vetnostrum currently produces the following categories of products: non-medicated feed additive, trace mineral premix, pet supplement, medicated feed additive, oral solid dosage (powder, granule, tablet, capsule), oral liquid dosage, topical liquid dosage, oral highly sensitizing antibiotics, sulfanilamide/chlortetracycline/penicillin premix (Aurofac), general injection, and highly sensitizing antibiotic injection.

III. Outcomes of Business Plan

The Company reported net operating revenues of NT$1,416,122 thousand for 2025; 82.9% of which were from domestic sale while the remaining 17.1% were from export sale. Compared to the 2024 operating revenues of NT$1,294,112 thousand, there was a growth of 9.4%. The primary reason for this growth was the aggressive market expansion in domestic sales, successfully securing orders from other manufacturers' stock shortages, and the significant impact of various marketing activities, resulting in a 9.8% year-over-year increase in domestic sales. Export sales benefited from the market expansion achievements with U.S. customers, leading to an increase in order volume and a 7.7% growth in export sales.

Current net income after tax was NT$128,853 thousand, a decrease of 5.7% compared to the NT$136,619 thousand after-tax net income for the year 2024. This decrease was mainly due to the recognition of employee stock subscription benefits associated with cash capital increase from IPO and the recognition of valuation losses on financial assets.

IV. Budgeted Operating Revenues And Expenses

(I) Operating revenues

Operating revenues from sale of animal drugs, feed additives, and supplements totaled NT$1,416,122 thousand, up NT$122,010 thousand (or 9.4%) from the NT$1,294,112 thousand in 2024.

(II) Operating expenditures

Operating expenditure totaled NT$1,259,998 thousand in 2025, up NT$136,619 thousand (or 12.2%) from NT$1,123,379 thousand in 2024.

V. Profitability analysis

(I) Profit and loss

Unit: NTD thousands

Item	Amount
Operating revenues	1,416,122
Gross profit	451,873
Operating profit	156,124
Profit before tax	159,389
Net income	128,853
After-tax earnings per share ($)	1.82

(II) Profitability analysis

Unit: %

Item		Percentage
Return on assets		8.33
Return on shareholders' equity		10.38
As a percentage of paid-in capital	Operating profit	21.44
	Profit before tax	21.89
Net profit margin		9.10
After-tax earnings per share ($)		1.82

VI. Research and Development

Vetnostrum uses its existing generic animal drugs and feed additive formula products as a research and development foundation, continually deepening key technologies in animal nutrition, biochemistry, and process engineering. It pragmatically integrates the concepts of green farming and sustainable development into product design and application, aiming to reduce the generation of harmful substances during the farming process through technological innovation, thereby balancing industrial benefits and environmental responsibility.

In terms of research and product deployment, the company continues to expand the depth and breadth of its product lines. In addition to improving medications for economic animals such as poultry and livestock, it is also actively developing aquaculture drugs and functional products. Meanwhile, resources will be directed to the development of drugs and special supplements for pets, thereby providing complete animal health solutions for customers, gradually building a comprehensive product system spanning both economic and companion animal markets.

In 2025, the company made substantial progress in regulatory applications and product launches both domestically and internationally, acquiring 8 new animal drug permits domestically, and 4

new animal drug permits and 4 feed additive manufacturing licenses in overseas markets, thereby continuing to enhance the completeness of its product portfolio and raising market entry barriers. Looking to the future, Vetnostrum will continue to enhance mass production processes and the WHO GMP quality management system. Through diverse research and development strategies and deepened collaboration with domestic and international animal health industry partners, the company aims to improve R&D efficiency and product competitiveness, steadily advancing towards becoming a highly internationally competitive animal health enterprise.

Chairman: Wei-Kai Chung
President: Wei-Kai Chung
Accounting Manager: Yi-Fen Chen

Attachment 2. Audit Committee's Audit Report

Vetnostrum Animal Health Co., Ltd.
Audit Committee's Audit Report

This is to certify that

The Board of Directors prepared the Company's 2025 Business Report, financial statements and proposal for earnings distribution, among which the financial statements have been audited by Accountants Min-Ju Chao and Chia-Han Wu from KPMG Taiwan, by whom an audit report has been issued accordingly.

The said business report, financial statements, and the proposal for earnings distribution have been audited by the Audit Committee and determined to be correct. Therefore, the above statements have been submitted in accordance with Article 14-4 of the Securities and Exchange Act and Article 219 of the Company Act. Please review.

The 2026 Annual Shareholders' Meeting

Convener of the Audit Committee: Pao-Chu Luo
March 2, 2026

Attachment 3. Audit Report and Financial Statements

KPMG

李伏建業聯合會計師事務所

KPMG

台北市110615信義路5段7號68樓(台北101大樓)

68F., TAIPEI 101 TOWER, No. 7, Sec. 5,

Xinyi Road, Taipei City 110615, Taiwan (R.O.C.)

電話 Tel +886 2 8101 6666

傳真 Fax +886 2 8101 6667

網址 Web kpmg.com/tw

Audit Report

To the Board of Directors of Vetnostrum Animal Health Co., Ltd.:

Audit Opinion

The balance sheets of Vetnostrum Animal Health Co., Ltd. as of December 31, 2025 and 2024, and the statements of comprehensive income, changes in equity, and cash flows for the years from January 1 to December 31, 2025 and 2024, as well as the notes to the financial statements (including a summary of significant accounting policies), have been audited by our accountant.

In our accountant's opinion, the aforementioned financial statements have been prepared, in all material respects, in accordance with the Regulations Governing the Preparation of Financial Reports by Securities Issuers and the International Financial Reporting Standards, International Accounting Standards, interpretations, and interpretative announcements recognized and issued into effect by the Financial Supervisory Commission. They adequately present the financial position of Vetnostrum Animal Health Co., Ltd. as of December 31, 2025 and 2024, as well as the financial performance and cash flows for the years from January 1 to December 31, 2025 and 2024.

Basis for the Audit Opinion

The auditor conducted the audit in accordance with the Regulations Governing Auditing and Certification of Financial Statements by Certified Public Accountants and auditing standards. The responsibilities of the auditor under these standards are further explained in the section on the responsibilities of the auditor for the audit of the financial statements. The personnel of the firm to which the accountant belongs have complied with the Code of Ethics for Professional Accountants, maintaining an objective and independent relationship with Vetnostrum Animal Health Co., Ltd., and have fulfilled other responsibilities under the Code. The auditor believes that sufficient and appropriate audit evidence has been obtained to provide a basis for the audit opinion.

Key Audit Matters

Key audit matters are those matters that, in the accountant's professional judgment, were of most significance in the audit of the financial statements of Vetnostrum Animal Health Co., Ltd. for the year 2025. These matters have been addressed in the context of the audit of the financial statements as a

whole and in forming the audit opinion, and the auditor does not provide a separate opinion on these matters. The Key Audit Matters to be communicated in the Audit Report are as follows:

Revenue recognition

Regarding the accounting policy for revenue recognition, please refer to Note 4(12) of the financial statements, "Revenue Recognition"; for disclosures related to revenue, please refer to Note 6(17).

Description of Key Audit Matters:

The sale revenue of Vetnostrum Animal Health Co., Ltd. is an important indicator for investors and management in assessing financial or business performance, inherently posing a higher risk of material misstatement. In addition, the judgment of revenue recognition and the timing of the transfer of control of goods is extremely important for the presentation of the financial statements. Therefore, our accountant has designated the revenue recognition during the period around the balance sheet date as one of the key audit matters for this year's financial statement audit.

Audit procedures in response:

The main audit procedures performed by the accountant in response to the aforementioned Key Audit Matters include:

Understand the operational status and industry characteristics of Vetnostrum Animal Health Co., Ltd., review major sales contracts, and evaluate whether the timing of its revenue recognition and accounting treatment are appropriate.
Test the design and execution of internal controls related to revenue recognition.
Conduct trend analysis on the top ten sales customers, including comparing the current period with the most recent period and the same period last year in terms of customer lists and sales revenue amounts to assess any significant abnormalities. If there are major changes, investigate and analyze the reasons.
Select sales records for the period around the balance sheet date to assess whether the timing of revenue recognition is appropriate, the accuracy of the amount of revenue recognition, and the authenticity of sales transactions.

Responsibilities of Management and Those Charged with Governance for the Financial Statements

The responsibility of management is to prepare financial statements that accurately present the company's financial position in accordance with the Regulations Governing the Preparation of Financial Reports by Securities Issuers and the International Financial Reporting Standards, International Accounting Standards, interpretations, and interpretative announcements recognized and issued into effect by the Financial Supervisory Commission. Management is also responsible for maintaining necessary internal controls related to the preparation of the financial statements to ensure they are free from material misstatement due to fraud or error.

When preparing financial statements, management's responsibilities also include assessing Vetnostrum Animal Health Co., Ltd.'s ability to continue as a going concern, disclosing, as applicable, matters related to going concern, and using the going concern basis of accounting unless management either

intends to liquidate Vetnostrum Animal Health Co., Ltd. or to cease operations, or has no realistic alternative but to do so.

The governance units of Vetnostrum Animal Health Co., Ltd. (including the Audit Committee) are responsible for overseeing the financial reporting process.

The responsibilities of the auditor for the audit of the financial statements.

The purpose of the auditor for the audit of the financial statements is to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an audit report. Reasonable assurance is a high level of assurance, but an audit conducted in accordance with auditing standards cannot guarantee that a material misstatement in the financial statements will always be detected. Misstatements may result from fraud or error. If individual amounts or aggregate amounts of a misstatement could reasonably be expected to influence the economic decisions of users of the financial statements, they are considered to be material.

The auditor exercised professional judgment and maintained professional skepticism in auditing in accordance with auditing standards. The auditor also performed the following tasks:

Identify and assess the risks of material misstatement in the financial statements due to fraud or error; design and implement appropriate responses to the assessed risks; and obtain sufficient and appropriate audit evidence to provide a basis for the audit opinion. Due to fraud potentially involving collusion, forgery, intentional omissions, misrepresentations, or the override of internal controls, the risk of undetected material misstatement resulting from fraud is higher than that from error.
Obtain necessary understanding of internal control relevant to the audit in order to design appropriate audit procedures under the circumstances, but not for the purpose of expressing an opinion on the effectiveness of Vetnostrum Animal Health Co., Ltd.'s internal control.
Evaluate the appropriateness of the accounting policies used by management, and the reasonableness of accounting estimates and related disclosures made by them.
Based on the audit evidence obtained, conclude on the appropriateness of management's use of the going concern basis of accounting and whether a material uncertainty exists related to events or conditions that may cast significant doubt on Vetnostrum Animal Health Co., Ltd.'s ability to continue as a going concern. If the auditor concludes that a material uncertainty exists, they are required to draw attention in the audit report to the related disclosures in the financial statements or, if such disclosures are inadequate, to modify the audit opinion. The auditor's conclusion is based on the audit evidence obtained up to the date of the Audit Report. However, future events or conditions may cause Vetnostrum Animal Health Co., Ltd. to cease to be able to continue as a going concern.
Evaluate the overall presentation, structure, and content of the financial statements (including related notes), and whether the financial statements appropriately represent the related transactions and events.

The matters communicated by the accountant with the governance unit include the planned scope and timing of the audit, as well as significant audit findings (including any significant deficiencies in internal control identified during the audit process).

From the matters communicated with the governance units, the accountant determined the Key Audit Matters for the audit of the 2025 financial statements of Vetnostrum Animal Health Co., Ltd. The auditor describes these matters in the audit report unless law or regulation precludes public disclosure of a specific matter or, in extremely rare circumstances, the auditor determines not to communicate a specific matter in the audit report because the adverse consequences of doing so could reasonably be expected to outweigh the public interest benefits.

KPMG Taiwan

Min-Ju Chao

Accountant:

Chia-Han Wu

Approval reference number : Financial-Supervisory-Securitie
by the competent securities
s-Auditing No.1050036075
authority
Financial-Supervisory-Securitie
s-Auditing No.1130332775

March 2, 2026

Vetnostrum Animal Health Co., Ltd.

BALANCE SHEETS

December 31, 2025 and 2024

Unit: In Thousands of New Taiwan Dollars

	ASSETS	Dec 31, 2025		Dec 31, 2024			LIABILITIES AND EQUITY	Dec 31, 2025		Dec 31, 2024
		Amount	%	Amount	%			Amount	%	Amount	%
11xx	CURRENT ASSETS:					21xx	CURRENT LIABILITIES:
1100	Cash and cash equivalents (Note 6(1))	$ 121,926	7	96,454	7	2150	Notes payable	6	-	390	-
1137	Financial assets at amortized cost - Current (Note 6(3))	292,860	18	10,000	1	2170	Accounts payable	37,042	2	67,534	5
1150	Notes receivable (Notes 6(4) and (17))	33,162	2	33,001	2	2180	Accounts payable to related parties (Note 7)	117,047	7	75,719	5
1170	Accounts receivable (Notes 6(4) and (17))	212,624	13	194,465	14	2200	Other payables	104,651	6	102,579	7
1180	Accounts receivable from related parties, net (Notes 6(4), (17) and 7)	1,820	-	18,128	1	2220	Other payables to related parties (Note 7)	1,985	-	1,155	-
1200	Other receivables (Note 6 (5))	395	-	-	-	2230	Current tax liabilities	16,644	1	24,912	2
130X	Inventories (Note 6(6))	322,865	19	395,696	27	2280	Lease liabilities - Current (Note 6(11) and 7)	10,912	1	9,545	1
1410	Prepayments	7,175	1	9,504	1	2365	Refund liabilities - current	5,057	1	4,551	-
1470	Other current assets	-	-	3	-	2399	Other current liabilities	2,085	-	2,299	-
	Total current assets	992,827	60	757,251	53		Total current liabilities	295,429	18	288,684	20
15xx	NON-CURRENT ASSETS:					25xx	NON-CURRENT LIABILITIES:
1510	Financial assets at fair value through profit or loss - Non-current (Note 6(2))	25,343	2	-	-	2570	Deferred tax liabilities (Note 6(13))	741	-	169	-
1600	Property, plant and equipment (Note 6(7))	613,181	37	643,448	45	2580	Lease liabilities - Non-current (Notes 6(11) and 7)	14,010	1	14,162	1
1755	Right-of-use assets (Note 6(8))	23,992	1	22,870	2	2640	Net defined benefit liabilities - non-current (Note 6(12))	5,094	-	4,838	-
1780	Intangible assets (Note 6(9))	33	-	229	-	2670	Other non-current liabilities - Others	483	-	-	-
1840	Deferred tax assets (Note 6(13))	4,738	-	4,274	-		Total non-current liabilities	20,328	1	19,169	1
1920	Refundable deposits	2,263	-	3,005	-	2xxx	TOTAL LIABILITIES	315,757	19	307,853	21
1915	Prepayments for equipment purchase (Note 6(7))	2,986	-	4,634	-	31xx	Equity (Notes 6(14) (15)):
1942	Long-term other receivables from related parties (Notes 6(5) and 7)	2,633	-	2,633	-	3110	Share Capital	728,040	44	663,390	46
	Total non-current assets	675,169	40	681,093	47	3200	Capital surplus	182,894	11	31,779	2
						3300	Retained earnings:
						3310	Legal reserve	127,566	7	113,906	8
						3350	Unappropriated earnings	313,739	19	321,416	23
							Total retained earnings	441,305	26	435,322	31
1xxx	TOTAL ASSETS	$ 1,667,996	100	1,438,344	100	3xxx	TOTAL EQUITY	1,352,239	81	1,130,491	79
						2-3xx	TOTAL LIABILITIES AND EQUITY	$ 1,667,996	100	1,438,344	100

Chairman: Wei-Kai Chung

(Please refer to accompanying notes to financial statements)

President: Wei-Kai Chung

Accounting Manager: Yi-Fen Chen

Vetnostrum Animal Health Co., Ltd.

Statements of Comprehensive Income

January 1 to December 31, 2025 and 2024

Unit: In Thousands of New Taiwan Dollars

		2025		2024
		Amount	%	Amount	%
4000	Operating revenue (Notes 6(17) and 7)	$ 1,416,122	100	1,294,112	100
5000	Operating costs (Notes 6(6), (7), (12), (15), (18) and 7)	964,249	68	853,423	66
5900	Gross profit	451,873	32	440,689	34
6000	Operating expenses (Notes 6(7), (8), (9), (11), (12), (15), (18) and 7):
6100	Selling and marketing expenses	182,460	13	160,157	13
6200	General and administrative expenses	78,908	6	81,020	6
6300	Research and development expenses	34,381	2	28,779	2
	Total operating expenses	295,749	21	269,956	21
6900	Income from Operations	156,124	11	170,733	13
7000	Non-operating income and expenses (Notes 6(11), (19) and 7):
7100	Interest income	3,166	-	650	-
7010	Other income	465	-	454	-
7020	Other gains and losses	195	-	(1,020)	-
7050	Finance costs	(561)	-	(1,099)	-
	Total non-operating income and expenses	3,265	-	(1,015)	-
7900	Income before income tax	159,389	11	169,718	13
7950	Less: Tax expenses (Note 6(13))	30,536	2	33,099	2
8200	Net profit for the period	128,853	9	136,619	11
8300	OTHER COMPREHENSIVE INCOME (LOSS) (Notes 6(12) and (13)):
8310	Items that will not be reclassified subsequently to profit or loss
8311	Remeasurements of defined benefit plans	(179)	-	(19)	-
8349	Less: Income tax relating to items that will not be reclassified to profit or loss	(36)	-	(3)	-
8300	Other comprehensive income (loss) for the period	(143)	-	(16)	-
8500	Total comprehensive income for the period	$ 128,710	9	136,603	11
	Earnings per share (Unit: New Taiwan Dollars, Note 6(16))
9750	Basic earnings per share	$	1.82		2.06
9850	Diluted earnings per share	$	1.82		2.06

(Please refer to accompanying notes to financial statements)
Chairman: Wei-Kai Chung
President: Wei-Kai Chung
Accounting Manager: Yi-Fen Chen

Vetnostrum Animal Health Co., Ltd.

Statements of Changes in Equity

January 1 to December 31, 2025 and 2024

Unit: In Thousands of New Taiwan Dollars

	Share Capital	Capital surplus	Retained Earnings			Total equity
			Legal reserve	Unappropriated earnings	Total
Balance on January 1, 2024	$ 662,890	31,454	104,802	262,861	367,663	1,062,007
Appropriation of earnings:
Legal reserve appropriated	-	-	9,104	(9,104)	-	-
Cash dividends on ordinary shares	-	-	-	(68,944)	(68,944)	(68,944)
Net profit for the period	-	-	-	136,619	136,619	136,619
Other comprehensive income (loss) for the period	-	-	-	(16)	(16)	(16)
Total comprehensive income for the period	-	-	-	136,603	136,603	136,603
Issuance of new shares for employee stock option exercises	500	325	-	-	-	825
Balance on December 31, 2024	663,390	31,779	113,906	321,416	435,322	1,130,491
Appropriation of earnings:
Legal reserve appropriated	-	-	13,660	(13,660)	-	-
Cash dividends on ordinary shares	-	-	-	(122,727)	(122,727)	(122,727)
Net profit for the period	-	-	-	128,853	128,853	128,853
Other comprehensive income (loss) for the period	-	-	-	(143)	(143)	(143)
Total comprehensive income for the period	-	-	-	128,710	128,710	128,710
Issuance of new shares for cash capital increase	64,200	142,519	-	-	-	206,719
Issuance of new shares for employee stock option exercises	450	293	-	-	-	743
Share-based payment arrangements	-	8,303	-	-	-	8,303
Balance on December 31, 2025	$ 728,040	182,894	127,566	313,739	441,305	1,352,239

(Please refer to accompanying notes to financial statements)

President: Wei-Kai Chung

Accounting Manager: Yi-Fen Chen

Chairman: Wei-Kai Chung

Vetnostrum Animal Health Co., Ltd.

Statements of Cash Flows

January 1 to December 31, 2025 and 2024

Unit: In Thousands of New Taiwan Dollars

	2025	2024
CASH FLOWS FROM OPERATING ACTIVITIES:
Profit before income tax	$ 159,389	169,718
Adjustments for:
Profit and loss items
Depreciation	73,492	75,939
Amortization	196	210
Loss on financial assets at fair value through profit or loss	3,787	-
Interest expenses	561	1,099
Interest income	(3,166)	(650)
Share-based remuneration payment cost	8,303	-
Loss on disposal or retirement of property, plant and equipment.	145	1,886
Property, plant and equipment transferred to expenses	264	-
Gain on disposal of investments	(131)	-
Unrealized profit on foreign exchange	(263)	(1,311)
Gains on lease modifications	(2)	-
Total profit and loss items	83,186	77,173
Changes in operating assets/liabilities:
Net changes in operating assets:
Notes receivable	(161)	2,627
Accounts receivable	(17,812)	(12,696)
Accounts receivable from related parties	16,064	(15,353)
Other receivables	(96)	349
Inventories	72,831	(56,191)
Prepayments	2,329	3,541
Other current assets	3	150
Total net changes in operating assets	73,158	(77,573)
Net changes in operating liabilities:
Notes payable	(384)	390
Accounts payable	(30,344)	1,346
Accounts payable to related parties	41,319	11,257
Other payables	(2,720)	17,381
Other payables to related parties	830	48
Refund Liabilities	506	150
Other current liabilities	269	(104)
Net defined benefit liabilities	77	58
Total net changes in operating liabilities	9,553	30,526
Total net changes in assets and liabilities related to operating activities	82,711	(47,047)
Total adjustments	165,897	30,126
Cash inflow from operations	325,286	199,844
Interest received	2,867	650
Interest paid	(561)	(1,145)
Income tax paid	(38,660)	(18,961)
Net cash inflow from operating activities	288,932	180,388
CASH FLOWS FROM INVESTING ACTIVITIES:
Acquisition of financial assets at amortized cost	(282,860)	(10,000)
Acquisitions of Financial instruments at fair value through profit or loss	(30,000)	-
Disposal of Financial instruments at fair value through profit or loss	1,001	-
Acquisition of property, plant and equipment	(22,665)	(26,855)
Decrease (increase) in refundable deposits	742	(438)
Increase in prepayments for equipment	(2,986)	(3,348)
Net cash used in investing activities	(336,768)	(40,641)
CASH FLOWS FROM FINANCING ACTIVITIES:
Increase in short-term borrowings	60,000	350,000
Decrease in short-term borrowings	(60,000)	(420,000)
Repayment of the principal portion of lease liabilities	(11,427)	(9,085)
Cash dividends paid	(122,727)	(68,944)
Cash capital increase	206,719	-
Exercises of employee stock option	743	825
Net cash inflow (outflow) from financing activities	73,308	(147,204)
Net (decrease) increase in cash and cash equivalents	25,472	(7,457)
Balance of cash and cash equivalents at the beginning of the period	96,454	103,911
Balance of cash and cash equivalents at the end of the period	$ 121,926	96,454

(Please refer to accompanying notes to financial statements)

Chairman: Wei-Kai Chung

President: Wei-Kai Chung

Accounting Manager: Yi-Fen Chen

Attachment 4. Schedule of Earnings Distribution

Vetnostrum Animal Health Co., Ltd.

2025 Schedule of Earnings Distribution

Unit: New Taiwan Dollar (NT$)

Item	Amount
Beginning balance of retained earnings	185,028,697
Less: Other comprehensive income (loss) (Note)	(142,914)
Add: 2025 net income after tax	128,852,993
Less: Provision for legal reserve	(12,871,008)
Less: Provision for special reserve	0
Earnings available for distribution	300,867,768
Distributions items:
Shareholders' dividends: cash dividend @NT$1.51	(109,934,040)
Distribution amount subtotal	(109,934,040)
Unappropriated retained earnings at the end of period	190,933,728

Note: This is the actuarial (loss) gain of defined benefit plans transferred to retained earnings.

Chairman: Wei-Kai Chung

President: Wei-Kai Chung

Accounting Manager: Yi-Fen Chen

Attachment 5. Report on the 2025 Related Party Transaction

Report on the 2025 Related Party Transaction

According to Article 9-1 of the Company's "Rules on Financial and Business Dealings between Related Parties," any sale, purchase, or rendering of labor or technical service with related parties that are expected to amount to $5\%$ of the Company's latest consolidated total assets or consolidated operating revenues in the most recent year, and any distributorship, licensing, or contract of similar nature signed with a related party, shall be reported in the most recent shareholders' meeting after the end of a financial year.

Disclosure of related party transactions in 2025:

Unit: NTD thousands

Counterparty	Nature	Amount of transaction	Credit term	As a percentage of consolidated operating revenues in the most recent year	Carried out according to the transaction pricing principles approved by the board of directors	Exceeding board-approved transaction amount cap for the year	Balance of notes and accounts receivable (payable) and lease liabilities	As a percentage of the latest consolidated total assets
Yung Shin Pharmaceutical Industrial Co., Ltd.	Purchase	245,039	120 days	17.30%	Yes	No	(115,638)	6.93%
	Lease	(Note)312	10 days	0.02%	Yes	No	-	-
Y.S.P. INDUSTRIES (M) SDN. BHD.	Sale	6,241	90 days	0.44%	Yes	No	1,820	0.11%
Chemix Inc.	Technical service	3,419	Immediate payment	0.24%	Yes	No	-	-
YungShin Formosa Investment Holding Co., Ltd.	Lease	(Note)312	10 days	0.02%	Yes	No	207	0.01%

Note: In 2023, the company leased an office building from the related party, Yung Shin Pharmaceutical Industrial Co., Ltd., signing a three-year lease contract with reference to the office rental rates in nearby areas, with a total contract value of 1,824 thousand. On July 1, 2025, the counterparty to the transaction was changed to the related party, YungShin FormosaInvestment Holding Co., Ltd.

Attachment 6. Comparison Table of Amendments to the " Ethical Corporate Management Best Practice Principles"

Vetnostrum Animal Health Co., Ltd.

Comparison Table of Amendments to the " Ethical Corporate Management Best Practice Principles"

Article number before amendment	Content before amendment	Article number after amendment
Article 19	The Directors, managers, employees, appointees, and substantial controllers of the Company shall exercise the duty of care as good administrators, urge the Company to prevent dishonest behavior, continually review the effectiveness of implementation, and make continuous improvements to ensure the implementation of the integrity management policy.
To ensure sound management of integrity operations, the audit unit is responsible for formulating and supervising the implementation of the integrity management policy and prevention plans, primarily handling the following matters, and reporting to the Board of Directors regularly (at least once a year).
I. Assist in integrating integrity and ethical values into the company's business strategy and develop related preventive measures to ensure integrity management in accordance with legal systems.
II. Regularly analyze and assess the risk of unethical behavior within the scope of operations, and accordingly establish schemes to prevent unethical conduct, as well as set relevant standard operating procedures and behavior guidelines for each scheme.
III. Plan the internal organization, staffing, and responsibilities, and implement mechanisms for mutual supervision and checks	Article 18	The Directors, managers, employees, appointees, and substantial controllers of the Company shall exercise the duty of care as good administrators, urge the Company to prevent dishonest behavior, continually review the effectiveness of implementation, and make continuous improvements to ensure the implementation of the integrity management policy.
To ensure sound management of integrity operations, the Legal and Intellectual Property Department of the General Manager's Office is responsible for formulating and supervising the implementation of the integrity management policy and prevention plans, primarily handling the following matters, and reporting to the Board of Directors regularly (at least once a year).
I. Assist in integrating integrity and ethical values into the company's business strategy and develop related preventive measures to ensure integrity management in accordance with legal systems.
II. Regularly analyze and assess the risk of unethical behavior within the scope of operations, and accordingly establish schemes to prevent unethical conduct, as well as set relevant standard operating procedures and behavior guidelines for each scheme.
III. Plan the internal organization, staffing, and responsibilities,	According to the improvement suggestions in the execution report of the Vetnostrum Audit Office's Internal Audit Plan for the second quarter of 2025, the Legal and Intellectual Property Department is revised to be established as a dedicated unit for ethical business conduct.

Article number before amendment	Content before amendment	Article number after amendment	Content after amendment	Basis and reasons for amendment
	and balances for business activities with a higher risk of unethical behavior within the scope of operations. IV. Promotion and coordination of integrity policy advocacy training. V. Plan a whistleblower system to ensure its effective implementation. VI. Assist the Board of Directors and management in auditing and evaluating the effectiveness of preventive measures established for implementing integrity operations, and regularly assess compliance with related business processes, producing reports accordingly.		and implement mechanisms for mutual supervision and checks and balances for business activities with a higher risk of unethical behavior within the scope of operations. IV. Promotion and coordination of integrity policy advocacy training. V. Plan a whistleblower system to ensure its effective implementation. VI. Assist the Board of Directors and management in auditing and evaluating the effectiveness of preventive measures established for implementing integrity operations, and regularly assess compliance with related business processes, producing reports accordingly.
Articles 7 to 29 (Article numbers)	1, 2, 3, 4, 5, 7, 8, 9, 10, 11, ..., 26, 27, 28, 29, (The text of the article is omitted)	Articles 7 to 29 (Article numbers)	1, 2, 3, 4, 5, 6, 7, 8, 9, 11, ..., 25, 26, 27, 28 (The text of the article is omitted)	The serial number of the original article numbering omitted Article 6. This time, the numbering will be adjusted forward in sequence to correct the article numbering.

Attachment 7. Comparison Table of Amendments to the "Procedures for Ethical Management and Guidelines for Conduct"

Vetnostrum Animal Health Co., Ltd.

Comparison Table of Amendments to the "Procedures for Ethical Management and Guidelines for Conduct"

Article number before amendment	Content before amendment	Article number after amendment
Article 5 (Responsible Unit and Duties)	The audit unit under the company's Board of Directors serves as the dedicated unit (hereinafter referred to as the company's dedicated unit), and is equipped with sufficient resources and competent personnel to handle the revision, execution, interpretation, consulting services, and reporting registration of the operational procedures and behavior guidelines, as well as related operations and supervision. It primarily handles the following matters and reports to the Board of Directors on an irregular basis:
I. Assist in integrating integrity and ethical values into the company's business strategy and develop related preventive measures to ensure integrity management in accordance with legal systems.
II. Establish schemes for ethical behavior, and set relevant standard operating procedures and behavior guidelines for each scheme. Regularly analyze and assess the risk of integrity in contracting and transactions within the scope of operations.
III. Plan the internal organization, staffing, and responsibilities for risk prevention, and implement mechanisms for mutual supervision and checks and balances for business activities with a higher risk of integrity within the scope of operations. Plan a	Article 5 (Responsible Unit and Duties)	The Legal and Intellectual Property Department of the General Manager's Office serves as the dedicated unit (hereinafter referred to as the company's dedicated unit), and is equipped with sufficient resources and competent personnel to handle the revision, execution, interpretation, consulting services, and reporting registration of the Operating Procedures and Behavior Guidelines, as well as related operations and supervision. It primarily handles the following matters and reports to the Board of Directors on an irregular basis:
I. Assist in integrating integrity and ethical values into the company's business strategy and develop related preventive measures to ensure integrity management in accordance with legal systems.
II. Establish schemes for ethical behavior, and set relevant standard operating procedures and behavior guidelines for each scheme. Regularly analyze and assess the risk of integrity in contracting and transactions within the scope of operations.
III. Plan the internal organization, staffing, and responsibilities for risk prevention, and implement mechanisms for mutual supervision and checks and balances for business activities with a higher risk of integrity within the scope of operations.	According to the improvement suggestions in the execution report of the Vetnostrum Audit Office's Internal Audit Plan for the second quarter of 2025, the Legal and Intellectual Property Department is revised to be established as a dedicated unit for ethical business conduct.

Article number before amendment	Content before amendment	Article number after amendment
	whistleblower system to ensure its effective implementation.
IV. Assist the Board of Directors and management in auditing and evaluating the implementation of integrity operations, regularly assess risk prevention related business processes, produce reports, and properly maintain relevant documents.
V. Implement the advocacy of policies, regulations, and ethics for integrity management.		Plan a whistleblower system to ensure its effective implementation.
IV. Assist the Board of Directors and management in auditing and evaluating the implementation of integrity operations, regularly assess risk prevention related business processes, produce reports, and properly maintain relevant documents.
V. Implement the advocacy of policies, regulations, and ethics for integrity management.

Attachment 8. Comparison Table of Amendments to the Articles of Incorporation

Vetnostrum Animal Health Co., Ltd.

Comparison Table of Amendments to the Articles of Incorporation

Article number before amendment	Content before amendment	Article number after amendment	Content after amendment	Basis and reasons for amendment
Article 5 (Responsible Unit and Duties)	The Company may not offer endorsements/guarantees to external parties.	Article 5 (Responsible Unit and Duties)	The Company may provide endorsements/guarantees for the business needs of its subsidiaries, and these operations shall be conducted in accordance with the Company's "Procedures for Providing Endorsements/Guarantees."	To meet the operational management needs of the Company.
Article 21	The Company has 5 to 11 directors, who are elected in shareholders' meetings from persons of adequate capacity to serve a term of three years. Term of service can be renewed if re-elected. In cases where representative of a corporate shareholder is elected as director, the corporate shareholder may re-appoint the director at any time, but only to serve the remaining term. The number of directors mentioned in the preceding Paragraph above shall include no fewer than two independent directors that make up no less than one-fifth of director seats. Independent directors shall be elected by shareholders from the list of nominated candidates using the nomination system. Restrictions concerning independent directors' eligibility, shareholding, concurrent employment, nomination, method of election, and all other compliance issues are governed by relevant laws of the securities authority.	Article 21	The Company has 5 to 11 directors, who are elected in shareholders' meetings from persons of adequate capacity to serve a term of three years. Term of service can be renewed if re-elected. In cases where representative of a corporate shareholder is elected as director, the corporate shareholder may re-appoint the director at any time, but only to serve the remaining term. The number of directors mentioned in the preceding Paragraph above shall include no fewer than three independent directors that make up no less than one-third of director seats. Independent directors shall be elected by shareholders from the list of nominated candidates using the nomination system. Restrictions concerning independent directors' eligibility, shareholding, concurrent employment, nomination, method of election, and all other compliance issues are governed by relevant laws of the securities authority.	I. According to the "Operation Directions for Establishment of Board of Directors by Listed Companies and Exercise of Powers," this paragraph 2 has been amended.
II. In conjunction with all listed companies having fully established audit committees, the number of Independent Directors has been revised.
III. In line with promoting the "Corporate Governance 3.0 - Sustainable Development Roadmap," it is stipulated that listed companies with a capital of over 10 billion

Article number before amendment	Content before amendment	Article number after amendment	Content after amendment	Basis and reasons for amendment
				TWD and those in the financial and insurance industries must have Independent Directors accounting for no less than one-third of the board starting from 2024. According to Measure 2, Deepening the Culture of Corporate Sustainability Governance, Point 1, Enhancing the Functions of Independent Directors and Audit Committees, Section (2) of the "TWSE/GTSM-listed Companies Sustainable Development Action Plan (2023)," all listed companies are required, starting from 2027, to ensure that the term of Independent Directors accounts for no less than one-third of the board by the end of each term. Therefore, paragraph 2 has

Article number before amendment	Content before amendment	Article number after amendment	Content after amendment	Basis and reasons for amendment
				been added.
Article 34	This Articles of Incorporation was established on April 20, 2012. The 1st amendment was made on May 18, 2012. The 2nd amendment was made on July 26, 2012. The 3rd amendment was made on January 30, 2013. The 4th amendment was made on June 21, 2013. The 5th amendment was made on May 3, 2016. The 6th amendment was made on November 3, 2016. The 7th amendment was made on January 18, 2021. The 8th amendment was made on April 27, 2021. The 9th amendment was made on March 14, 2022. The 10th amendment was made on July 29, 2022. The 11th amendment was made on October 25, 2022. The 12th amendment was made on February 17, 2023. The 13th amendment was made on June 29, 2023. The 14th amendment was made on June 24, 2024. The 15th amendment was made on June 27, 2025.	Article 34	This Articles of Incorporation was established on April 20, 2012. The 1st amendment was made on May 18, 2012. The 2nd amendment was made on July 26, 2012. The 3rd amendment was made on January 30, 2013. The 4th amendment was made on June 21, 2013. The 5th amendment was made on May 3, 2016. The 6th amendment was made on November 3, 2016. The 7th amendment was made on January 18, 2021. The 8th amendment was made on April 27, 2021. The 9th amendment was made on March 14, 2022. The 10th amendment was made on July 29, 2022. The 11th amendment was made on October 25, 2022. The 12th amendment was made on February 17, 2023. The 13th amendment was made on June 29, 2023. The 14th amendment was made on June 24, 2024. The 15th amendment was made on June 27, 2025. The 16th amendment was made on May 22, 2026.	Added revision dates according to the dates of shareholders' meetings held.

Attachment 9. Comparison Table of Amendments to the "Guidelines for Lending Funds to Others"

Vetnostrum Animal Health Co., Ltd.

Comparison Table of Amendments to the "Guidelines for Lending Funds to Others"

Article number before amendment	Content before amendment	Article number after amendment
3	Total Amount of Lending and Limits for Individual Borrowers:
I. The total amount of funds lent: shall not exceed 12% of the company's net worth.
II. Limits for Individual Borrowers: The credit limit for the same enterprise shall not exceed NTD 50 million.
III. Business counterpart:
(I) The total amount of lending: shall not exceed 2% of the company's net worth.
(II) For companies having business dealings with this company, the amount lent to each party individually shall not exceed the total amount of business transactions between the two parties over the 12-month period prior to the lending of funds (referred to as the amount of business transactions, meaning the higher amount between purchase or sale transactions between the two parties).
IV. For those requiring short-term financing, the total amount of lending shall not exceed 10% of the company's net worth.
V. Foreign companies in which	3	Total Amount of Lending and Limits for Individual Borrowers:
I. The total amount of funds lent: shall not exceed 40% of the company's net worth.
II. Limits for Individual Borrowers: The credit limit for the same enterprise shall not exceed 40% of the company's net worth.
III. Business counterpart:
(I) The total amount of lending: shall not exceed 40% of the company's net worth.
(II) For companies having business dealings with this company, the amount lent to each party individually shall not exceed the total amount of business transactions between the two parties over the 12-month period prior to the lending of funds (referred to as the amount of business transactions, meaning the higher amount between purchase or sale transactions between the two parties).
IV. For those requiring short-term financing, the total amount of lending shall not exceed 40% of the company's net worth.	1. According to Article 3 of the "Regulations Governing Loaning of Funds and Making of Endorsements/Guarantees by Public Companies," the short-term financing amount shall not exceed 40% of the net worth of the lending enterprise, as amended.
2. To meet the operational management needs of the Company.

Article number before amendment	Content before amendment	Article number after amendment	Content after amendment	Basis and reasons for amendment
	this company directly and indirectly holds 100% of the voting shares may engage in lending of funds, or foreign companies in which this company directly and indirectly holds 100% of the voting shares may lend funds to this company without exceeding 12% of the company's net worth and without exceeding the limit of NTD 50 million per individual case. VI. (The text of the article is omitted) VII. (The text of the article is omitted)		V. Foreign companies in which this company directly and indirectly holds 100% of the voting shares may engage in lending of funds, or foreign companies in which this company directly and indirectly holds 100% of the voting shares may lend funds to this company without exceeding 40% of the company's net worth; the financing for individual enterprises shall not exceed the limit of 40% of the company's net worth. VI. (The text of the article is omitted) VII. (The text of the article is omitted)
Article 21	This method was established on May 1, 2020. The first amendment was made on November 30, 2022. The 2nd amendment was made on February 17, 2023.	Article 21	This method was established on May 1, 2020. The first amendment was made on November 30, 2022. The 2nd amendment was made on February 17, 2023. The 3rd amendment was made on May 22, 2026.	Added revision dates according to the dates of shareholders' meetings held.

Attachment 10. List of Director and Independent Director Candidates

Serial Number	Name (Category)	Education/Experience	Current position
1	Representative of YungShin Global Holding Corporation: Wei-Kai Chung (Director)	Master of Management from the Asian Institute of Management, Philippines Bachelor of Chemistry, Tunghai University Assistant Vice President of Business Innovation and Global Collaboration Division, Yung Shin Pharmaceutical Industrial Co., Ltd.	1. Chairman, General Manager, and Business Group Manager of Vetnostrum Animal Health Co., Ltd.
2. Representative of a juristic person director for companies such as Carlsbad Technology, Inc. and Chemix Inc.	36,412,975
2	Representative of YungShin Global Holding Corporation: Meng-Be Lin (Director)	Bachelor of Accounting, Tunghai University Director of Feng Hsin Iron & Steel Co., Ltd.	1. Chairman of Wenshan Enterprises Co., Ltd.
2. Representative of a juristic person director for companies such as Yung Shin Pharm. Ind. Co., Ltd., YSP International Company Limited, Hong Kong
Yung Shin Co., Ltd., Carlsbad Technology, Inc., and Yung Shin Tiente (Shanghai) Pharmaceutical Trading Co., Ltd.
3. Director of Yung Shin Global Holding Corporation, Li-Da Steel Co., Ltd., Da-Jia Iron Co., Ltd., and other companies.
4. Supervisor of Xinlinji Co., Ltd.	36,412,975

Serial Number	Name (Category)	Education/Experience	Current position	Number of shares held
3	Representative of YungShin Global Holding Corporation: Fang-Chen Lee (Director)	Doctorate in Intellectual Property Law, China University of Political Science and Law Doctorate in Medicinal Chemistry, University of Minnesota Chairman of YungShin Global Holding Corporation	1. Chairman of Tehchuan Medicine (Jiangsu) Co., Ltd., Yung Chyuan Investment Co., Ltd., and LTC Holding Company Limited. 2. Director of Yung Shin Global Holding Corporation, Yung Zip Chemical Ind. Co., Ltd., Taiwan Wason Industrial Co., Ltd., Fuentes Holding Company Limited, Tehjen Pharmaceutical (Jiangsu) Co., Ltd., and other companies.	36,412,975
4	Representative of YungShin Global Holding Corporation: Bill Chien (Director)	Master of EMBA, National Taiwan University Master's degree from the Institute of Pharmacology, Yang-Ming University Director of Operations for South Asia and China at Alvogen Director of Operations and Business Development for Novartis Sandoz Taiwan	1. Chairman and General Manager of Carlsbad Technology, Inc. 2. General Manager of Yung Shin Global Holding Corporation.	36,412,975
5	Chun-Wei Lin (Director)	Doctorate in Industrial Engineering, Pennsylvania State University Dean of Academic Affairs at Asia University	Dean of Academic Affairs at Asia University, Distinguished Professor in the Department of Business Administration, and Deputy Director of the Center for Innovation and Circular Economy Research.	0

Serial Number	Name (Category)	Education/Experience
6	Pao-Chu Luo (Independent Director)	Bachelor's in Taxation from National Chung Hsing University (now National Taipei University)
Director and General Manager of Hua Nan Financial Holdings Co., Ltd.
Director of Hua Nan Venture Capital Co., Ltd.
Supervisor of Hua Nan Securities Investment Trust Co., Ltd.
Director of Taiwan Cooperative Asset Management Co., Ltd.
Supervisor of Taipei Financial Tower Co., Ltd.	Independent Director of Synermore Biologics Co., Ltd.	0
7	Pan-Chiang Yang (Independent Director)	Bachelor's in Law from National Taiwan University
Director of Swancor Holding Co., Ltd.	1. Managing Attorney of Pan-Chiang Yang Law Firm
2. Obligatory Lawyer for the Central Branch of the Consumers' Foundation
3. Chief Arbitrator recommended by the Chinese Arbitration Association
4. Director of Swancor Holding Co., Ltd., Quan Bao Industrial Co., Ltd., and other companies.
5. Independent Director of Eastern Wind Power Ltd.	0
8	Shu-Hui Lee (Independent Director)	Doctorate in Veterinary Medicine, National Chung Hsing University
Researcher and Director of the Animal Drug Inspection Branch, Animal Health Research Institute, Council of Agriculture, Executive Yuan	Adjunct Assistant Professor at the Graduate Institute of Molecular and Comparative Pathobiology, School of Veterinary Medicine, College of Bioresources and Agriculture, National	0

Serial Number	Name (Category)	Education/Experience
		Adjunct Assistant Professor at the Graduate Institute of Molecular and Comparative Pathobiology, School of Veterinary Medicine, College of Bioresources and Agriculture, National Taiwan University
Director of the Veterinary Medical Association of the Republic of China
Director of the Veterinary Pathology Association of the Republic of China	Taiwan University
9	Chi-Ming Wang (Independent Director)	Master's in Management from the University of Houston, USA
Bachelor's in Accounting from National Taiwan University
Independent Director of Hongyu Technology Ventures Co., Ltd.
Supervisor of Beauty Hotels Co., Ltd.
Deputy General Manager and Director of Global Tek Fabrication Co., Ltd.
Deloitte Taiwan	1. Director of KSP Certified Public Accountants Limited.
2. Chairman of Kaya Capital Limited.
3. Supervisor of Goer Development and Construction Co., Ltd.	0

Attachment 11. Summary Table of Concurrent Positions Held by Director Candidates

Director	Concurrent company/position
Fang-Chen Lee	1. Chairman of Dequan Pharmaceutical (Jiangsu) Co., Ltd., Chairman of YungChuan Investment Co., Ltd., and Chairman of LTC Holding Company Limited.
2. Director of YungShin Global Holding Corporation, Eternal Chemical Co., Ltd., Taiwan Chlorella Manufacturing Co., Ltd., Fuentes Holding Company Limited, and DeZhen Pharmaceutical (Jiangsu) Co., Ltd., among other companies.
Bill Chien	1. Chairman and General Manager of Carlsbad Technology, Inc.
2. General Manager of YungShin Global Holding Corporation.
Pao-Chu Luo	Independent Director of Synermore Biologics Co., Ltd.

Appendix 1. "Ethical Corporate Management Best Practice Principles" (Before Amendment)

Vetnostrum Animal Health Co., Ltd.

Ethical Corporate Management Best Practice Principles

Article 1: Basis and Purpose

To establish a corporate culture of ethical business practices and sound development, and to provide a reference framework for good business operations, this Code is formulated in accordance with the "Ethical Corporate Management Best Practice Principles for TWSE/TPEx Listed Companies."

Article 2: Applicability

The Applicability of these guidelines extends to the company's subsidiaries, corporate foundations with direct or indirect funding exceeding 50%, and other institutions or legal entities with substantial control, referred to collectively as the Group's enterprises and organizations.

Article 3: Prohibition of Unethical Conduct

Directors, managers, employees, appointees, or substantial controllers of the Company (hereinafter referred to as "substantial controllers") must not directly or indirectly offer, promise, request, or accept any improper benefits, or engage in other dishonest acts that violate integrity, are unlawful, or betray fiduciary duties, in the course of conducting business activities to gain or maintain benefits (hereinafter referred to as "dishonest behavior").

The subjects of the aforementioned conduct include public officials, political candidates, political parties or party personnel, as well as any public or private enterprises or institutions and their directors (supervisors), supervisors (auditors), managers, employees, substantial controllers, or other stakeholders.

Article 4: Types of benefits

The term "benefit" as used in this code refers to anything of value, including money, gifts, commissions, positions, services, privileges, rebates, and other forms or representations. This does not apply if it is in line with normal social etiquette, occurs occasionally, and poses no risk of affecting specific rights or obligations.

Article 5: Compliance with laws and regulations

The Company shall comply with the Company Act, Securities and Exchange Act, Business Accounting Act, Political Donations Act, Anti-Corruption Act, Government Procurement Act, the Act on Recusal of Public Servants Due to Conflicts of Interest, relevant regulations for listed companies, and other laws related to commercial activities as the fundamental premise for implementing ethical business practices.

Article 7: Policy

The Company shall establish integrity-based policies in accordance with the principles of integrity, transparency, and responsibility, as approved by the Board of Directors, and establish sound corporate governance and risk control mechanisms to create a sustainable development business environment.

Article 8: Prevention plans

The integrity management policy established by the company should clearly and comprehensively outline specific practices for integrity operations and schemes to prevent unethical conduct (hereinafter referred to as prevention plans), including operating procedures, behavior guidelines, and training programs.

The Company should establish prevention plans in compliance with relevant laws and regulations of the jurisdictions where the Company and its group enterprises and organizations operate.

During the process of establishing prevention plans, the Company should communicate with employees, labor unions, important business counterparties, or other stakeholders.

Article 9: Scope of the prevention plans

The Company should establish a mechanism for assessing the risk of unethical behavior, regularly analyze and assess business activities with a higher risk of unethical behavior within the scope of operations, and accordingly establish prevention plans, regularly reviewing the appropriateness and effectiveness of these prevention plans. The Company should refer to internationally and domestically accepted standards or guidelines to establish prevention plans, which should at least include preventive measures for the following behaviors:

I. Bribery and corruption.
II. Provide illegal political contributions.
III. Improper charitable donations or sponsorships.
IV. Offering or accepting unreasonable gifts, hospitality, or other improper benefits.
V. Infringement of trade secrets, trademark rights, patent rights, copyright, and other intellectual property rights.
VI. Engaging in acts of unfair competition.
VII. The products and services, during research and development, procurement, manufacturing, offering, or sales, directly or indirectly harm the rights, health, and safety of consumers or other stakeholders.

Article 10: Commitment and execution

The Company should require Directors and senior management to issue a statement of compliance with the integrity management policy and include the requirement for employees to adhere to the integrity management policy in employment conditions.

The Company and its group enterprises and organizations shall explicitly state their integrity management policy in their regulations, external documents, and on the company website, as well as the commitment of the Board of Directors and senior

management to actively implement the integrity management policy, and ensure its effective execution in internal management and business activities.

Produce documented information regarding the first and second items of the integrity management Policy, statements, commitments, and execution, and properly maintain it.

Article 11: Ethical business activities

The Company should conduct business activities in a fair and transparent manner based on the principle of ethical business activities.

Before engaging in business dealings, the Company should consider the legality and potential dishonest behavior of agents, suppliers, customers, or other business counterparties, to avoid transactions with those involved in dishonest behavior.

The contracts signed by the Company with its agents, suppliers, customers, or other business counterparties should include provisions for complying with the integrity management policy and allow for the termination or cancellation of the contract at any time if the counterparty engages in dishonest behavior.

Article 12: Prohibition of bribery and corruption.

The Company and its Directors, managers, employees, appointees, and substantial controllers must not directly or indirectly offer, promise, request, or accept any form of improper benefits to or from customers, agents, contractors, suppliers, public officials, or other stakeholders in the course of executing business.

Article 13: Prohibit providing illegal political contributions.

The Company and its Directors, managers, employees, appointees, and substantial controllers who directly or indirectly make donations to political parties or organizations or individuals involved in political activities must comply with the Political Donations Act and the company's internal procedures. Such donations must not be used to seek commercial interests or transactional advantages.

Article 14: Prohibition of Improper Charitable Donations or Sponsorships.

The Company and its Directors, managers, employees, appointees, and substantial controllers must comply with relevant laws and internal procedures regarding charitable donations or sponsorships and must not use them as a disguised form of bribery.

Article 15: Prohibition of Improper Charitable Donations or Sponsorships.

The Company and its Directors, managers, employees, appointees, and substantial controllers must not directly or indirectly offer or accept any unreasonable gifts, hospitality, or other improper benefits to establish business relationships or influence business transactions.

Article 16: Prohibit infringement of intellectual property rights.

The Company and its Directors, managers, employees, appointees, and substantial controllers must comply with intellectual property-related laws, internal procedures, and contract provisions. They must not use, disclose, dispose of, damage, or engage in any other actions that infringe on intellectual property rights without the consent of the intellectual property rights owner.

Article 17: Prohibition of engaging in acts of unfair competition.

The Company should engage in business activities in accordance with relevant competition laws and must not fix prices, manipulate bids, restrict production and quotas, or allocate customers, suppliers, operational territories, or types of business in a manner that shares or divides the market.

Article 18: Prevent harm from products or services to stakeholders.

The Company and its Directors, managers, employees, appointees, and substantial controllers, during the processes of research and development, procurement, manufacturing, offering, or sales of products and services, must adhere to relevant laws and international standards to ensure the transparency and safety of product and service information. They should establish and disclose policies for the protection of the rights of consumers or other stakeholders and implement these policies in operational activities to prevent the products and services from directly or indirectly harming the rights, health, and safety of consumers or other stakeholders. When there are facts sufficient to establish that the goods or services may endanger the safety and health of consumers or other stakeholders, the batch of products should, in principle, be recalled or the services stopped immediately.

Article 19: Organization and Responsibility

The Directors, managers, employees, appointees, and substantial controllers of the Company shall exercise the duty of care as good administrators, urge the Company to prevent dishonest behavior, continually review the effectiveness of implementation, and make continuous improvements to ensure the implementation of the integrity management policy.

To ensure sound management of integrity operations, the Legal and Intellectual Property Department of the General Manager's Office is responsible for formulating and supervising the implementation of the integrity management policy and prevention plans, primarily handling the following matters, and reporting to the Board of Directors regularly (at least once a year).

I. Assist in integrating integrity and ethical values into the company's business strategy and develop related preventive measures to ensure integrity management in accordance with legal systems.

II. Regularly analyze and assess the risk of unethical behavior within the scope of operations, and accordingly establish schemes to prevent unethical conduct, as well as set relevant standard operating procedures and behavior guidelines for each

scheme.

III. Plan the internal organization, staffing, and responsibilities, and implement mechanisms for mutual supervision and checks and balances for business activities with a higher risk of unethical behavior within the scope of operations.

IV. Promotion and coordination of integrity policy advocacy training.

V. Plan a whistleblower system to ensure its effective implementation.

VI. Assist the Board of Directors and management in auditing and evaluating the effectiveness of preventive measures established for implementing integrity operations, and regularly assess compliance with related business processes, producing reports accordingly.

Article 20: Compliance with laws and regulations in business execution.

The Directors, managers, employees, appointees, and substantial controllers of the Company must comply with legal regulations and prevention plans during business execution.

Article 21: Conflict of interest avoidance

The Company shall establish policies to prevent conflicts of interest to identify, supervise, and manage the risks of dishonest behavior that may result from conflicts of interest. Appropriate channels should be provided for Directors, managers, and other stakeholders attending or present at the Board meetings to proactively disclose any potential conflicts of interest with the Company.

Directors, managers, and other stakeholders attending or present at the Board meetings who have an interest in the matters listed on the Board's agenda, either personally or on behalf of legal entities they represent, should disclose the key details of their interests at that Board meeting. If there is a likelihood of compromising the interests of the Company, they must not participate in the discussion and voting, and should recuse themselves during discussions and voting. Additionally, they may not exercise voting rights as a proxy for other directors. Directors should also exercise self-discipline and refrain from unduly supporting each other. Directors, managers, employees, appointees, and substantial controllers of the Company must not use their positions or influence within the Company to obtain improper benefits for themselves, their spouses, parents, children, or any other individuals.

Article 22: Accounting and internal control systems.

The Company should establish an effective accounting system and internal control system for business activities with a higher risk of unethical behavior. There shall be no external accounts or secret reserve accounts, and these systems should be reviewed continually to ensure the design and execution remain effective.

The company's internal audit unit should formulate relevant audit plans based on the results of the assessment of unethical behavior risks, including the audit subjects, scope, items, frequency, etc. They shall verify compliance with the prevention plans and may engage accountants to perform the audits or consult professionals for assistance when necessary.

The results of the aforementioned audit should be reported to senior management and the dedicated integrity management unit, and an audit report should be submitted to the Board of Directors.

Article 23: Operating Procedures and Behavior Guidelines

The Company should establish Operating Procedures and Behavior Guidelines in accordance with Article 8, specifically outlining the precautions that Directors, managers, employees, appointees, and substantial controllers must observe during business execution. The content should at least cover the following items:

I. Criteria for Determining the Offering or Accepting of Improper Benefits.
II. Procedures for handling the provision of legal political contributions.
III. Procedures and amount standards for providing legitimate charitable donations or sponsorships.
IV. Regulations for avoiding conflicts of interest related to duties, along with their reporting and handling procedures.
V. Confidentiality rules for confidential and commercially sensitive information obtained in the course of business.
VI. Guidelines and procedures for dealing with suppliers, customers, and business counterparties involved in dishonest behavior.
VII. Procedure for handling violations of the Code of Ethical Conduct.
VIII. Disciplinary actions taken against violators.

Article 24: Education, training, and assessment

The Chairman, President, or senior management of the Company shall periodically convey the importance of integrity to Directors, employees, and appointees.

The Company should regularly conduct educational training and advocacy for the Directors, managers, employees, appointees, and substantial controllers, and invite parties engaged in business activities with the Company to participate, ensuring they fully understand the Company's commitment to integrity management, policies, prevention plans, and the consequences of unethical behavior.

The Company should integrate the integrity management policy with employee performance assessments and human resources policies, establishing a clear and effective system of rewards and penalties.

Article 25: Whistleblower system

The Company should establish a concrete whistleblower system and ensure its effective implementation. The content should at least cover the following items:

I. Establish and announce an internal independent whistleblower mailbox, hotline, or entrust other external independent organizations to provide a whistleblower mailbox and hotline for use by internal and external personnel of the company.

II. Designate dedicated personnel or a unit to handle whistleblowing matters. If the whistleblowing involves Directors or senior management, it should be reported to the Independent Director. Additionally, establish categories for whistleblowing matters and their corresponding standard operating procedures for investigation.

III. After the completion of the investigation into whistleblowing cases, follow-up measures should be determined based on the severity of the situation, and if necessary, reports should be made to the competent authority or the case should be referred to judicial authorities for investigation.

IV. Records and preservation of the acceptance, investigation process, investigation results, and related document production of whistleblowing cases.

V. Confidentiality of the whistleblower's identity and the content of the report, and allow anonymous reporting.

VI. Measures to protect whistleblowers from being improperly treated due to reporting incidents.

VII. Whistleblower reward measures.

If the dedicated personnel or unit handling whistleblowing matters discovers significant violations or potential major harm to the company upon investigation, a report should be immediately prepared and the Independent Director should be notified in writing.

Article 26: The discipline and appeal system.

The Company shall clearly stipulate and announce the discipline and appeal system for violations of the integrity management regulations, and promptly disclose on the company's internal website the title, name, date of violation, details of the violation, and handling status of the violator.

Article 27: Disclosure

The Company discloses the implementation of its Code of Ethical Conduct on the company website, in the annual report, and in the prospectus.

Article 28: Review and Revision of the Code of Ethical Conduct

The Company should continually monitor the development of integrity management-related regulations domestically and internationally, and encourage Directors, managers, and employees to provide suggestions to review and improve the Company's established integrity management policies and implemented measures, thereby enhancing the effectiveness of the Company's integrity management.

Article 29: Implementation and revision

These Guidelines shall be implemented after being approved by the Audit Committee

and resolved by the Board of Directors, and then submitted to the Shareholders' Meeting. Any amendments shall be processed in the same manner.

When the Company submits the Code of Ethical Conduct to the Board of Directors for discussion in accordance with the preceding paragraph, it should fully consider the opinions of each Independent Director.

opinions, and their dissenting or reserved opinions should be recorded in the meeting minutes; if an Independent Director cannot attend the Board meeting in person to express their dissent or reservations, they should provide a written opinion in advance, specifying the reasons, which should also be recorded in the meeting minutes, unless there is a valid reason for not doing so.

Appendix 2. "Procedures for Ethical Management and Guidelines for Conduct" (Before Amendment)

Vetnostrum Animal Health Co., Ltd.

Procedures for Ethical Management and Guidelines for Conduct

Article 1: Purpose and Applicability

The Company engages in business activities based on the principles of fairness, honesty, trust, and transparency. To implement the integrity management policy and actively prevent unethical conduct, this Operating Procedures and Behavior Guidelines is established in accordance with the "Ethical Corporate Management Best Practice Principles for TWSE/TPEx Listed Companies" and relevant laws and regulations of the jurisdictions where the Company and its group enterprises and organizations operate. This document specifically outlines the precautions that Company personnel must observe during business execution.

The Applicability of these Operating Procedures and Behavior Guidelines extends to the company's subsidiaries, corporate foundations with direct or indirect funding exceeding 50%, and other institutions or legal entities with substantial control, referred to collectively as the Company's enterprises and controlled legal entities.

Article 2: Applicable Parties

The term "personnel of the Company" in these Operating Procedures and Behavior Guidelines refers to the Directors, managers, employees, appointees, and individuals with substantial control within the Company and its controlled legal entities.

The Company's personnel refers to those who encompass second-degree and third-degree relatives, friends, and other stakeholders who are substantially related and appointed to promise to provide the Company's personnel with any improper benefits before or after any given situation.

Article 3: Unethical behavior

Unethical behavior refers to actions taken by the Company's personnel in the course of executing business that are illegal, violate integrity, or betrayal fiduciary duties, involving the direct or indirect obtaining or offering of any improper or illegal benefits.

Article 4: Types of benefits

The term "benefit" in these Operating Procedures and Behavior Guidelines refers to money, gifts, presents, commissions, position compensations, services, privileges,

rebates, facilitation fees, hospitality, entertainment, and any other things of value in any form or name.

Article 5: (Responsible Unit and Duties)

The Audit Unit under the Board of Directors serves as the dedicated unit (hereinafter referred to as the Company's dedicated unit), and is equipped with sufficient resources and competent personnel to handle the revision, execution, interpretation, consulting services, and reporting registration of the Operating Procedures and Behavior Guidelines, as well as related operations and supervision. It primarily handles the following matters and reports to the Board of Directors on an irregular basis:

I. Assist in integrating integrity and ethical values into the company's business strategy and develop related preventive measures to ensure integrity management in accordance with legal systems.

II. Establish schemes for ethical behavior, and set relevant standard operating procedures and behavior guidelines for each scheme. Regularly analyze and assess the risk of integrity in contracting and transactions within the scope of operations.

III. Plan the internal organization, staffing, and responsibilities for risk prevention, and implement mechanisms for mutual supervision and checks and balances for business activities with a higher risk of integrity within the scope of operations. Plan a whistleblower system to ensure its effective implementation.

IV. Assist the Board of Directors and management in auditing and evaluating the implementation of integrity operations, regularly assess risk prevention related business processes, produce reports, and properly maintain relevant documents.

V. Implement the advocacy of policies, regulations, and ethics for integrity management.

Article 6: Prohibit offering or accepting improper benefits.

When the Company's personnel directly or indirectly offer, accept, promise, or request the benefits prescribed in Article 4, unless under the following circumstances, they must comply with the "Ethical Corporate Management Best Practice Principles for TWSE/TPEx Listed Companies" and this Operating Procedures and Behavior Guidelines, and obtain approval in accordance with relevant internal regulations before proceeding:

I. Based on business needs, visits within the country (or abroad), hosting foreign guests, promoting business, and communication and coordination are conducted according to local etiquette, conventions, or customs.

II. Participate in or invite others to organize normal social activities based on normal social etiquette, commercial purposes, or relationship enhancement.

III. Inviting clients or being invited to specific business activities, factory tours, etc., due to business needs, with clear specifications regarding the cost-sharing method, number of participants, accommodation standard, and duration of the aforementioned activities.

IV. Participate in publicly organized folk festival activities to which the general public

is invited.

V. Rewards, assistance, condolences, or recognition by supervisors.

Article 7: Procedures for Handling the Acceptance of Improper Benefits.

When the Company's personnel are directly or indirectly offered or promised the benefits prescribed in Article 4 by others, except under circumstances specified in the preceding article, the following procedures should be followed:

I. If the person offering or promising has no occupational interest, it should be reported to their immediate supervisor within three days of receipt, and, if necessary, notify the Company's designated unit.

II. If the person offering or promising has an occupational interest, it should be returned or refused and reported to their immediate supervisor and the Company's designated unit; if it cannot be returned, it should be handed over to the Company's designated unit for handling within three days of receipt.

The term "in relation to their duties" as mentioned above refers to any of the following situations:

I. Having business dealings, command and supervision, or relationships involving expense subsidies (awards).

II. Individuals or entities seeking, engaging in, or having entered into contracting, sales, or other contractual relationships.

III. Other parties who will be favorably or unfavorably affected by the Company's business decisions, executions, or non-executions.

The Company's designated unit should, based on the nature and value of the benefits in the first item, propose appropriate suggestions such as return, acceptance with payment, confiscation, donation to charity, or other suitable actions, and execute them after reporting to and obtaining approval from the General Manager.

Article 8: Prohibition of facilitation payments and handling procedures.

The Company must not offer or promise any facilitation fees.

If any company personnel offers or promises facilitation fees due to threats or intimidation, they should document the process and report it to their immediate supervisor and notify the Company's designated unit.

Upon receiving the aforementioned notice, the Company's dedicated unit should immediately address the issue and review the relevant situation to reduce the risk of recurrence. If any illegal activities are discovered, they should be immediately reported to the judicial authorities.

Article 9: (Procedures for handling the provision of legal political contributions.)

The Company may provide political contributions only after reporting to and obtaining approval from the Board of Directors, and notifying the Company's designated unit.

I. It should be confirmed that the political contributions comply with the relevant regulations of the country where the recipients are located, including the limits and forms of providing political contributions.

II. Decisions should be documented in writing.

III. Political contributions should be accounted for in accordance with legal regulations and relevant accounting procedures.

IV. When providing political donations, one should avoid engaging in business dealings with government-related entities, applying for permits, or handling other matters involving the company's interests.

Article 10: Procedures for providing charitable donations or sponsorships.

The Company provides charitable donations or sponsorships in accordance with the following regulations and the approval authority division rules of A-003, and may proceed only after reporting to, obtaining approval, and notifying the Company's designated unit:

I. It should comply with the regulations of the jurisdiction where the operations are located.

II. Decisions should be documented in writing.

III. The recipients of charitable donations should be charitable organizations and must not be a disguised form of bribery.

IV. The benefits received from sponsorship must be clear and reasonable, and should not involve the Company's business counterparts or individuals related to the Company's personnel.

V. After charitable donations or sponsorships are made, it should be confirmed that the use of the funds aligns with the purpose of the donation.

Article 11: Conflict of interest avoidance

The spouse of a Director, relatives within the second degree of kinship, or a company having a controlling or subordinate relationship with the Director that has an interest in the matters of the aforementioned meeting shall be deemed as the Director having a personal interest in the matter.

When personnel of the Company, in the course of executing company business, discover a conflict of interest with themselves or the legal entities they represent, or a situation that may enable themselves, their spouses, parents, children, or stakeholders to obtain improper benefits, they should report the relevant circumstances to both their immediate supervisor and the Company's designated unit. The immediate supervisor should provide appropriate guidance. Company personnel are not allowed to use company resources for business activities outside the company, nor should their participation in business activities outside the company affect their job performance.

Article 12: Organization and Responsibility for Confidentiality Mechanisms

The Company shall establish a dedicated unit responsible for formulating and implementing procedures for the management, preservation, and confidentiality of the Company's trade secrets, trademarks, patents, copyrights, and other intellectual properties. It should also regularly review the results of these implementations to ensure the procedures remain effective.

The Company personnel must strictly adhere to the aforementioned procedures related to intellectual property and must not disclose any known Company trade secrets, trademarks, patents, copyrights, and other intellectual properties to others. Additionally, they must not inquire about or collect Company trade secrets, trademarks, patents, copyrights, and other intellectual properties that are not related to their duties.

Article 13: Prohibition of engaging in acts of unfair competition.

Article 14: Prevent harm from products or services to stakeholders.

The Company should collect and understand the relevant laws and international standards that must be followed for the products and services provided. It should compile and announce the matters that need attention to ensure that Company personnel, during the processes of research and development, procurement, manufacturing, offering, or sales of products and services, maintain the transparency and safety of product and service information.

The Company should establish and disclose on its website a policy for the protection of the rights of consumers or other stakeholders to prevent the products or services from directly or indirectly harming the rights, health, and safety of consumers or other stakeholders.

When media reports or facts are sufficient to establish that the Company's goods or services may endanger the safety and health of consumers or other stakeholders, the Company should immediately notify the original manufacturer, recall the batch of products or stop the services, investigate the veracity of the matter, and propose a review and improvement plan.

The Company's dedicated unit should report the aforementioned situation, its handling methods, and subsequent review and improvement measures to the Board of Directors.

Article 15: Prohibition of insider trading and confidentiality agreement.

The Company personnel must comply with the provisions of the Securities and Exchange Act and must not engage in insider trading using non-public information they are aware of, nor disclose it to others to prevent others from engaging in insider trading using such non-public information.

Institutions or personnel participating in mergers, splits, acquisitions, and Shares transfers with the Company, important memorandums, strategic alliances, other business cooperation plans, or significant contracts must sign a confidentiality agreement with the Company, committing not to disclose the Company's trade secrets or other significant information they become aware of to others. They must not use such information without the Company's consent.

Article 16: Compliance with and declaration of the Integrity Management Policy

The Company should disclose its integrity management policy in its internal regulations, annual reports, company website, or other publicity materials, and make declarations during external activities such as product launches and institutional presentations, so that its suppliers, customers, or other business-related organizations and personnel can clearly understand its integrity management philosophy and standards.

Article 17: Integrity assessment before establishing a business relationship.

Before the Company establishes a business relationship with others, it should first assess the legality, integrity management policy, and records of any involvement in unethical behavior of agents, suppliers, customers, or other business partners to ensure that their business practices are fair, transparent, and free from any request, offer, or acceptance of bribes.

When the Company conducts the aforementioned assessment, it may adopt appropriate audit procedures to review its business partners on the following matters to understand their ethical business practices:

I. The country of the enterprise, the location of its operations, organizational structure, business policy, and payment location.

II. Has the enterprise established an Integrity Management Policy and what is its implementation status?

III. Is the location of the enterprise's operations considered a high-risk country for corruption?

IV. Is the business operated by the enterprise considered a high-risk industry for bribery?

V. The long-term operational status and reputation of the enterprise.

VI. Consult its business partners for their opinions about the enterprise.

VII. Does the enterprise have any records of involvement in bribery or unethical behavior such as providing illegal political contributions?

Article 18: Explain the Integrity Management Policy to business partners.

In the course of conducting business activities, the Company's personnel should explain the Company's integrity management policy and relevant regulations to the counterparty, and explicitly refuse to directly or indirectly offer, promise, request, or accept any form or pretense of improper benefits.

Article 19: Avoid transactions with those engaged in unethical business practices.

The Company personnel should avoid engaging in business transactions with agents, suppliers, customers, or other business counterparts involved in dishonest behavior. Upon discovering that a business partner or collaborator is engaged in dishonest behavior, they should immediately cease business dealings and categorize them as a rejected counterpart to implement the Company's integrity management policy.

Article 20: The contract clearly stipulates the Code of Ethical Conduct.

When the Company enters into a contract with others, it should fully understand the counterparty's ethical business practices and incorporate compliance with the Company's integrity management policy into the contract terms. The contract should clearly state at least the following items:

I. Either party, upon becoming aware of any personnel violating contractual terms prohibiting the acceptance of commissions, rebates, or other improper benefits, shall immediately inform the other party truthfully about the identity of such personnel, the method of offering, promising, requesting, or accepting, the Amount or other improper benefits, and provide relevant evidence while cooperating with the other party's investigation. If one party suffers damages as a result, they may claim compensation from the other party amounting to 5% of the contract Amount, and may deduct the full Amount from the contract payment due.

II. If either party is involved in unethical behavior during business activities, the other party may unconditionally terminate or cancel the contract at any time.

III. Establish clear and reasonable payment terms, including the payment location, method, and compliance with relevant tax regulations.

Article 21: Handling of Unethical Behavior by Company Personnel

The Company encourages both internal and external personnel to report unethical behavior or misconduct. Depending on the severity of the reported situation, rewards may be given. Internal personnel who make false reports or malicious accusations should be subject to disciplinary action, and in severe cases, should be dismissed.

The company has established and announced an internal independent whistleblower mailbox, hotline, or entrusted other external independent organizations to provide a whistleblower mailbox and hotline on the company's website and internal network for use by internal and external personnel of the company.

The whistleblower should at least provide the following information:

I. The whistleblower's name, ID number, address, phone number, and email address that can be used to contact them, may also be provided anonymously.
II. The name of the person being reported or other information sufficient to identify the individual.
III. Specific evidence available for investigation.

The personnel involved in handling reported incidents within the Company should issue a written statement ensuring the confidentiality of the whistleblower's identity and the content of the report. The Company also commits to measures to protect whistleblowers from being improperly treated due to reporting incidents.

The Company's dedicated unit should handle whistleblowing matters according to the following procedures:

I. If the whistleblowing involves general employees, it should be reported to the department supervisor. If it involves Directors or senior executives, it should be reported to the Independent Director.
II. The Company's designated unit and the supervisors or personnel receiving the report as mentioned above should immediately ascertain the relevant facts, with assistance from the compliance or other relevant departments provided if necessary.
III. If it is confirmed that the reported person has indeed violated relevant laws or the Company's integrity management policy and regulations, they should be immediately required to cease the related behavior and be subject to appropriate disciplinary actions. If necessary, reports should be made to the competent authority, the case should be referred to judicial authorities for investigation, or legal proceedings should be initiated to seek compensation for damages to protect the Company's reputation and interests.
IV. The acceptance, investigation process, and investigation results of whistleblowing cases should be documented in writing and preserved for five years, and the preservation can be in electronic form. In the event of litigation related to the content of the report before the expiration of the retention period, the relevant materials shall continue to be retained until the conclusion of the litigation.

V. For whistleblowing matters that are verified to be true, the relevant units of the Company should be held accountable to review the internal control systems and operating procedures and propose improvement measures to prevent the recurrence of similar behavior.

VI. The Company's dedicated unit should report the aforementioned situation, its handling methods, and subsequent review and improvement measures to the Board of Directors.

Article 22: Handling of Unethical Behavior by Company Personnel

When Company personnel encounter Unethical behavior directed at the Company, and if such actions involve illegal activities, the Company should notify the judicial and prosecutorial authorities of the relevant facts. If it involves government agencies or officials, the government ethics agency should also be informed.

Article 23: Internal advocacy, establishing a reward and punishment system, an appeal system, and disciplinary actions.

The Company's dedicated unit should periodically conduct internal advocacy and arrange for the Chairman, President, or senior management to convey the importance of integrity to Directors, employees, and appointees.

The Company should incorporate integrity management into employee performance assessments and human resources policies, establishing a clear and effective system of rewards, penalties, and appeals.

For Company personnel who have committed severe unethical behavior, they should be dismissed or terminated in accordance with relevant laws or the Company's personnel procedures.

The Company shall disclose on the internal website the title, name, date of violation, details of the violation, and handling status of the personnel involved in violating integrity behavior.

Article 24: Implementation

These Guidelines shall be implemented after being approved by the Audit Committee and resolved by the Board of Directors, and then submitted to the Shareholders' Meeting. Any amendments shall be processed in the same manner. When the Operating Procedures and Behavior Guidelines are submitted to the Board of Directors for discussion, the opinions of each Independent Director should be fully considered, and their dissenting or reserved opinions should be recorded in the meeting minutes; if an Independent Director cannot attend the Board meeting in person to express their dissent or reservations, they should provide a written opinion in advance, specifying the reasons, which should also be recorded in the meeting minutes, unless there is a valid reason for not doing so.

Appendix 3. Articles of Incorporation (Before Amendment)

Vetnostrum Animal Health Co., Ltd.

Articles of Incorporation

Chapter 1 General Principles

Article 1: The Company is incorporated according to the Company Act, and has been named "Vetnostrum Animal Health Co., Ltd."

Article 2: The Company may engage in the following activities:

I. C201010 Feed Manufacturing.
II. C201020 Pet Food Processing.
III. C802060 Veterinary Drug Manufacturing.
IV. F103010 Wholesale of Animal Feeds.
V. F107070 Wholesale of Veterinary Drugs.
VI. F202010 Retail Sale of Feeds.
VII. F207070 Retail Sale of Veterinary Drugs.
VIII. F401010 International Trade.
IX. F113030 Wholesale of Precision Instruments.
X. F213040 Retail Sale of Precision Instruments.
XI. F106060 Wholesale of Pet Food and Supplies.
XII. F206050 Retail Sale of Pet Food and Supplies.
XIII. F108021 Wholesale of Western Pharmaceutical.
XIV. F208021 Retail Sale of Western Pharmaceutical.
XV. ZZ99999 All business items that are not prohibited or restricted by law, except those that are subject to special approval.

Article 3: The Company is headquartered in Hsinchu County, and may establish domestic or foreign branches or offices subject to board of directors' resolution and the authority's approval.

Article 4: Public announcements of the Company shall be duly made in accordance with Article 28 of the Company Act.

Article 5: The Company may not offer endorsements/guarantees to external parties.

Article 6: The sum of investments in other business entities is not subject to the restrictions imposed under Article 13 of the Company Act (i.e. 40% of paid-in capital). Matters concerning business investment are subject to the resolution of the board of directors.

Chapter 2 Shares

Article 7: The Company's total authorized capital is NT$2.1 billion consisting of 210 million shares. NT$100 million of the capital is divided into 10 million shares with par value of NT$10

each, and these shares are reserved for the exercising of stock warrants, preferred shares with warrants, and corporate bonds with warrants. The unissued shares can be issued in installments, and the Board of Directors is authorized to issue the shares pursuant to the Company Act and relevant laws and regulations.

Article 8: Shares of the Company are issued to registered owners. Share certificates shall be signed or sealed by directors who are representative of the Company and issued after being certified by any bank that is legally eligible to serve as certifier.

The Company may issue shares without printing share certificate(s). However, the Company shall appoint a centralized securities custody enterprise/institution to make registration of such shares.

Article 9: Registration for transfer of share ownership shall be suspended during the 60 days prior to the annual shareholders' meeting, or during the 30 days prior to a special shareholders' meeting, or during the 5 days before the baseline date for dividends, bonuses or other gains distributed by the Company.

Article 10: Treasury stocks that the Company buys back in accordance with the Company Act may be transferred to employees of controlled entities or subsidiaries who meet certain criteria.

The Company may issue warrants to its employees, including employees of controlled entities or subsidiaries who satisfy certain criteria.

When issuing new shares, the Company may allow employees, including employees of controlled entities or subsidiaries who satisfy certain criteria, to subscribe.

The Company may issue restricted shares to its employees, including employees of controlled entities or subsidiaries who satisfy certain criteria.

Article 11: Transfer of shares shall proceed according to "Regulations Governing the Administration of Shareholder Services of Public Companies."

Chapter 3 Shareholders' Meeting

Article 12: The Company holds two types of shareholder meeting: the annual shareholders' meeting and special shareholders' meeting. The annual shareholders' meeting is held once a year within six months after the end of an accounting period, whereas special shareholders' meetings may be held whenever deemed necessary.

Shareholders' meetings may be convened by way of video conference or using other methods announced by the central authority.

Article 13: Convention of annual shareholders' meeting must be notified 30 days in advance, whereas special shareholders' meetings are to be notified 15 days in advance. Details such as the meeting date, venue, and agenda shall be communicated to each shareholder in writing or using electronic form; however, shareholders with less than 1,000 shares can be communicated by way of public announcement instead.

Article 14: Except otherwise regulated by the Company Act, a shareholders' meeting resolution is passed when more than $50\%$ of all outstanding shares are represented in the meeting, and

that the motion is voted in favor by more than 50% of all voting rights represented at the meeting. The Company shall, in accordance with Article 177-1 of the Company Act, allow electronic voting as one of the ways of exercising voting rights during shareholders' meeting. Shareholders shall have the option to exercise voting rights in writing or using the electronic method. Instructions for exercising voting rights in writing or through electronic means must be stated clearly on the meeting notice.

Article 15: If a shareholder is unable to attend the shareholder meeting in person, a proxy can be appointed by completing the Company's proxy form and by specifying the scope of delegated authority. Unless otherwise regulated in Article 177 of the Company Act, delegation of proxy attendees by shareholders shall comply with "Regulations Governing the Use of Proxies for Attendance at Shareholder Meetings of Public Companies."

Article 16: Shareholders of the Company are entitled to one vote per share, except for the circumstances outlined in Article 179 of the Company Act.

Article 17: Shareholders' meetings shall be convened by the Board of Directors and chaired by the Chairman of the Board. If the Chairman of the Board is unavailable, the Chairman shall appoint a proxy to act as chair, or, where the Chairman does not make such a designation, the Directors shall select from among themselves one person to serve as Chair. If the shareholders' meeting is not convened by the Board of Directors, the convener will be the chair, and where there is more than one convener, the conveners shall select from among themselves one person to serve as chair.

Article 18: Shareholders' meeting resolutions shall be compiled into detailed minutes, signed or sealed by the chair, and disseminated to each shareholder by no later than 20 days after the meeting. Preparation and distribution of meeting minutes can be made in printed or electronic form, and shall comply with Article 183 of the Company Act.

Article 19: (Deleted)

Article 20: Withdrawal of public offering is subject to resolution in a shareholders' meeting followed by a request submitted to the authority. In which case, this Article shall remain unchanged for as long as the Company's shares are listed on the Emerging Stock Market, TWSE, or TPEX.

Chapter 4 Directors and Audit Committee

Article 21: The Company has 5 to 11 directors, who are elected in shareholders' meetings from persons of adequate capacity to serve a term of three years. Term of service can be renewed if re-elected. In cases where representative of a corporate shareholder is elected as director, the corporate shareholder may re-appoint the director at any time, but only to serve the remaining term.

The number of directors mentioned in the preceding Paragraph above shall include no fewer than two independent directors that make up no less than one-fifth of director seats. Independent directors shall be elected by shareholders from the list of nominated candidates using the nomination system. Restrictions concerning independent directors'

eligibility, shareholding, concurrent employment, nomination, method of election, and all other compliance issues are governed by relevant laws of the securities authority.

Directors of the Company shall be elected using the nomination system according to Article 192-1 of the Company Act, where shareholders elect from a list of director candidates.

The Company shall assemble an Audit Committee in accordance with Article 14-4 of the Securities and Exchange Act. The Audit Committee shall consist of the entire independent directors, and have no fewer than three members. The Audit Committee and members thereof are responsible for performing the duties of supervisors stated in the Company Act, Securities and Exchange Act, and other relevant regulations.

Article 22: (Deleted)

Article 23: When the number of vacancies in the Board of Director equals to one-third of the total number, the Company shall call a special shareholders' meeting within 60 days to hold a by-election to fill the vacancies.

When the number of independent directors falls below the requirement stated in the Articles of Incorporation due to dismissal for any reason, the Company shall hold a by-election to fill the vacancy at its next shareholders' meeting. In situations where all independent directors have been dismissed, the Company shall convene a special shareholders' meeting and hold a by-election within 60 days from the date of occurrence to fill the open positions.

Article 24: If directors can not be re-elected in time at the end of service, the existing directors shall have services extended until new directors have been elected and commenced duty, unless otherwise regulated by the Company Act.

Article 25: Except for decisions that are subject to resolution in a shareholders' meeting, as specified in the Company Act or Articles of Incorporation, all business decisions of the Company shall be resolved by the board of directors.

Article 26: Duties of the Board of Directors

I. Reviewing the Company's operational guidelines, medium and long-term developmental plans; reviewing and supervising the implementation of annual business plans.
II. Reviewing and discussing the budget and final accounts.
III. Proposing capital increase/decrease plans.
IV. Proposing earnings allocation or making of loss plans.
V. Proposing and reviewing reinvestments in other businesses.
VI. Reviewing material capital expenditure plans.
VII. Examination of important contracts.
VIII. Obtaining, transferring, granting and leasing of professional technologies and patent rights and approving, revising, and terminating technical cooperation contracts.
IX. Examination of Articles of Incorporation and its amendments, and important

business rules of the Company.

X. Decision in establishment, terminating, reorganization, or dismissing of branch organizations.
XI. Appointing or discharging the President, deputy general managers and other important personnel.
XII. Convening shareholders' meetings and execution of resolutions adopted at shareholders' meetings.
XIII. Proposing capital increase from dividends or capital surplus.
XIV. Reviewing matters submitted by the President for approval.
XV. Other functional rights authorized by relevant laws and regulations and the shareholders' meeting.

Article 27: The board shall appoint one Chairman during a board meeting with more than two-thirds of directors present and with the support of more than half of all attending directors. The Chairman serves as the Company's representative to the outside world.

Article 28: Except as provided in the Company Act, board of directors meetings shall be convened by the Chairman. Board meetings are to be convened in accordance with the procedures described in Article 203 of the Company Act.

Convention of board meeting must be advised to all directors with detailed agenda at least 7 days in advance. However, meetings can be held in shorter notice in case of emergency. Convention of board of directors meetings may be advised in writing, fax, or through e-mail.

Article 29: The Chairman shall chair board of directors meetings. If the Chairman is unable to perform duties due to leave of absence or any reason, the Chairman may appoint one of the directors to act on behalf. If no one is appointed, the remaining directors shall appoint one among them to perform the Chairman's duties.

Article 30: Unless otherwise regulated by the Company Act, board resolutions are passed only if more than half of total board members are present in a meeting, and with more than half of attending directors voting in favor.

Article 31: Directors who are unable to attend board meetings in person may appoint one other director to attend on their behalf, by issuing a proxy form detailing the scope of authority to be delegated to the proxy attendee. Each director can only represent the presence of one other director. Where board meeting is carried out by way of video conferencing, those who participate in the video conference are considered to have attended the meeting in person.

Article 32: Board meeting resolutions shall be compiled into detailed minutes, signed or sealed by the chair, and di 2 编sseminated to each director by no later than 20 days after the meeting. Preparation and distribution of meeting minutes can be made in printed or electronic form, and shall comply with Article 207 of the Company Act.

Article 33: (Deleted)

Article 34: (Deleted)

Article 35: The Company may purchase liability insurance for Directors with respect to liabilities arising from performance of duties during their term of office so as to reduce and spread the risk of material damage to the Company and shareholders arising from the wrongdoings or negligence of Directors.

Article 36: The Board of Directors is authorized to decide the compensation to all Directors based on the degree of their participation in and contribution to the operations of the Company and in reference to both domestic and overseas general practices in the industry.

Article 37: The honorarium for all Directors shall be discussed and approved by the Board meeting.

Chapter 5 Managers

Article 38: The Company may create managerial positions. Appointment, dismissal, and compensation of whom shall comply with Article 29 of the Company Act. The President shall adhere to the authority delegated by the Board of Directors, and oversee all matters of the Company.

Chapter 6 Accounting

Article 39: The board of directors shall prepare: (1) A business report, (2) Financial statements, and (3) Earnings distribution or loss compensation proposal at the end of each financial year. The above documents shall be presented for ratification during annual shareholders' meeting.

Article 40: To encourage employees and the management team, if the Company makes any profits within a fiscal year, shall set aside 1%-4% of the profits as the employees' compensation (including no less than 30% for salary adjustment or compensation of entry-level employees); and no more than 1% of the profits as compensation to its Directors. However, the Company shall have reserved a sufficient amount to offset its accumulated losses.

Directors' and supervisors' compensation shall be distributed exclusively in cash while employees' compensation may be distributed in stock or cash. The distribution should be resolved by a majority vote at a Board meeting attended by at least two-thirds of total number of the Directors, and shall be reported at the Shareholders' meeting. Employee compensation can be paid in shares or cash to employees of subsidiaries that satisfy certain criteria.

Article 41: Earnings concluded in a year are first subject to taxation and compensation of previous losses, followed by a 10% provision for legal reserves. However, no further provision of legal reserve is required if the Company has accumulated legal reserves to an amount equal to paid-in capital. Any surpluses remaining shall then be subject to provision or reversal of special reserves, as the laws may require. The residual balance can then be distributed as shareholder dividends at board of directors' proposal, subject to resolution

in a shareholders' meeting.

The Company's dividend policy has been established to accommodate current and future development plans after taking into consideration the investment environment, capital requirement, domestic/foreign competition, and shareholders' interests. Dividends can be paid in cash or in shares, with cash dividends amounting to no less than 20% of total dividends.

Chapter 7 Supplementary Provisions

Article 42: The Board of Directors is authorized to establish separately the Company's organization guidelines and principles for determining levels of decision authority.

Article 43: Any matters that are not addressed in the Articles of Incorporation shall be governed by the Company Act and relevant regulations.

Article 44: This Articles of Incorporation was established on April 20, 2012. The 1st amendment was made on May 18, 2012. The 2nd amendment was made on July 26, 2012. The 3rd amendment was made on January 30, 2013. The 4th amendment was made on June 21, 2013. The 5th amendment was made on May 3, 2016. The 6th amendment was made on November 3, 2016. The 7th amendment was made on January 18, 2021. The 8th amendment was made on April 27, 2021. The 9th amendment was made on March 14, 2022. The 10th amendment was made on July 29, 2022. The 11th amendment was made on October 25, 2022. The 12th amendment was made on February 17, 2023. The 13th amendment was made on June 29, 2023. The 14th amendment was made on June 24, 2024. The 15th amendment was made on June 27, 2025.

Appendix 4. Guidelines for Lending Funds to Others (Before Amendment)

Vetnostrum Animal Health Co., Ltd.
Guidelines for Lending Funds to Others

Article 1: In response to business needs and to enhance the management of financial transactions among affiliated enterprises, the Company has established regulations in accordance with the "Regulations Governing Loaning of Funds and Making of Endorsements/Guarantees by Public Companies" promulgated by the Financial Supervisory Commission.

Article 2:
I. The company's external fund lending targets,
(I) Affiliated enterprises in which this company directly or indirectly holds more than 20% of the shares.
(II) Affiliated enterprises that directly or indirectly hold more than 50% of this company's shares.

II. When the company lends funds to affiliated enterprises due to business dealings, the amount lent is limited to the amount needed for business operations. For those requiring short-term financing, it is limited to advancing necessary operational expenditures and short-term working capital turnover needs for affiliated enterprises.

III. The term "short-term" as mentioned above refers to a period of one year or one business cycle, whichever is longer. The financing amount refers to the accumulated balance of the company's short-term financing funds.

Article 3: Total Amount of Lending and Limits for Individual Borrowers:
I. The total amount of funds lent: shall not exceed 12% of the company's net worth.
II. Limits for Individual Borrowers: The credit limit for the same enterprise shall not exceed NTD 50 million.
III. Business counterpart:
(I) The total amount of lending: shall not exceed 2% of the company's net worth.
(II) For companies having business dealings with this company, the amount lent to each party individually shall not exceed the total amount of business transactions between the two parties over the 12-month period prior to the lending of funds (referred to as the amount of business transactions, meaning the higher amount between purchase or sale transactions between the two parties).
IV. For those requiring short-term financing, the total amount of lending shall not exceed 10% of the company's net worth.

V. Foreign companies in which this company directly and indirectly holds 100% of the voting shares may engage in lending of funds, or foreign companies in which this company directly and indirectly holds 100% of the voting shares may lend funds to this company without exceeding 12% of the company's net worth and without exceeding the limit of NTD 50 million per individual case.

VI. The term "net worth" as referred to in these regulations is defined as the equity attributable to owners of the parent on the balance sheet, as specified in the Regulations Governing the Preparation of Financial Reports by Securities Issuers.

VII. If the responsible person of the company violates the provisions of the first paragraph, they shall be jointly and severally liable with the borrower for the return obligation. If the company suffers any damage, they shall also be liable for compensation.

Article 4: For related enterprises that have been approved for loans, they must undergo due diligence by the company, which includes evaluating financial statements, analyzing cash flows, assessing production and sales plans, and considering impacts on the company's operational risks, financial condition, and shareholders' equity.

Article 5: When a borrower applies for a loan from the Company, they must submit an application or official letter detailing the loan amount, term, and purpose. The responsible personnel shall complete a credit report and provide their opinions to propose loan conditions, which must be presented level by level to the financial manager for forwarding to the President and the Chairman for approval, and finally pass the resolution of the Board of Directors before the loan can be granted.

The lending of funds between the company and its parent or subsidiaries, or between subsidiaries, should be resolved by the Board of Directors as stated in the previous paragraph and may authorize the Chairman to disburse loans by installment or revolving within a certain limit resolved by the Board and within a period not exceeding one year to the same borrower.

The "certain limit" referred to in the previous paragraph, except those in compliance with Article 3 of these Measures, means that the authorization limit for the lending of funds by the company or its subsidiaries to a single enterprise shall not exceed 10% of the net worth according to the most recent financial statement of that company.

Article 6: When the company lends funds to affiliated enterprises and deems it necessary, the financing target should provide collateral equivalent to the financing amount and guarantee the integrity of their rights.

For the aforementioned debt security, the debtor may provide an individual or company with equivalent financial capacity and credit as a guarantor, in lieu of the provided collateral. If a company acts as the guarantor, the guaranteeing company must include clauses in its Articles of Incorporation that permit such guarantees, and must submit the meeting minutes of relevant resolutions from its Shareholders' Meeting.

Article 7: Before the company lends its funds to others, it must carefully evaluate whether it complies with the operational procedures for lending funds set by the company. Together with the evaluation results of Article 4, it shall be submitted for a resolution by the Board

of Directors and must not authorize others to make the decision.

When the Company lends funds to others, it should fully consider the opinions of each Independent Director, and include the explicit approval or disapproval opinions and the reasons for any disapproval in the Board meeting records.

Article 8: When the company enters into a financing contract with affiliated enterprises, it should be processed using the seal registered with the competent authority.

Article 9: The short-term financing period between the company or its affiliates shall not exceed one year from the date of the loan. For lending funds due to business dealings, the term is determined by the resolution of the Board of Directors.

Article 10: Interest Calculation Method for Lending Funds:

The company shall not lend funds at an interest rate lower than the average interest rate of the company's short-term borrowings from financial institutions. If the company has no short-term borrowings when lending funds, the interest rate for lending funds shall not be lower than the one-year fixed deposit interest rate of Bank of Taiwan on the date of the Board of Directors' resolution. Each interest is calculated according to the contract, settled at the end of each month, and interest is collected monthly. In case of special circumstances, adjustments may be made as necessary with the approval of the Board of Directors.

Article 11: Upon approval of the fund-lending case, the financial department may disburse the funds in one lump sum or in installments depending on the financing needs of the recipient. The recipient may also repay in one lump sum or in installments, but the outstanding loan balance must not exceed the stipulations of Article 3 of these Regulations.

Article 12: Upon completion of each lending transaction, the Company's financial department shall prepare documents for obtaining collateral or credit guarantees and submit them to the accounting department for voucher preparation and recording in the necessary ledgers.

Article 13: Affiliated enterprises with approved loans are required to provide financial statements, business plans, and relevant business information regularly, as well as details of fund utilization, for the company's reference.

Article 14: Follow-up control measures for amounts already lent and procedures for handling overdue claims.

I. After the disbursement of the loan, the financial, business, and credit status of the borrower and guarantor should be regularly monitored. For those who have provided collateral, any changes in the collateral value should also be noted.

II. Before the loan term expires, the borrower should be notified to repay the principal and interest. When the borrower repays the loan at maturity, they should first calculate the interest payable and repay it together with the principal.

III. If the borrower fails to repay the principal and interest on time or fulfill the financing contract, unless a request for extension has been made in advance and approved by the Board of Directors, the Company may demand immediate repayment of all loans or proceed with the disposal and recovery from the collateral or guarantors provided by the borrower in accordance with the law.

Article 15: If any affiliated enterprise with approved loans violates Article 9 of these guidelines or any of the following circumstances, the company may recall the loans at any time.

I. Failure to perform on any debt obligation owed to the Company when due.
II. Failure to pay principal or interest on time, despite the Company's collection efforts without result.
III. Failure to proactively notify the Company of significant events occurring within the Company.
IV. Other circumstances deemed necessary to recall the loans to protect the company's rights.
V. Subject to compulsory execution, provisional attachment, provisional injunction; or application for reorganization or reconciliation under bankruptcy law; or declaration of bankruptcy and other procedures.
VI. Declaration as a rejected counterpart by the clearinghouse, cessation of business for debt settlement, or disappearance or absconding of the person in charge.

Article 16:

I. The company should establish a reference book for fund lending matters, detailing the lending targets, amounts, Board of Directors' approval dates, fund disbursement dates, and the matters that should be prudently evaluated according to these guidelines for future reference.
II. The company's internal auditors shall conduct audits of the operational procedures for lending funds to others and its execution at least quarterly, and prepare written records. If any significant violations are found, the Audit Committee shall be immediately notified in writing.
III. Due to changes in circumstances, if the borrower no longer complies with the regulations or if the balance exceeds the limit, the financial department should urge the finance team to set a deadline to retrieve the excessive lent funds, submit the improvement plan to the audit committee, and complete the improvements according to the scheduled timeline.

Article 17: Disclosure

I. The company should announce and report the fund lending balance of the company and its subsidiaries for the previous month before the 10th of each month.
II. If the company's fund lending meets any of the following standards, it shall announce and report within two days from the date of occurrence:

(I) The balance of funds lent to others by the company and its subsidiaries reaches 20% or more of the company's net worth according to the most recent financial statement.
(II) The balance of funds lent by the company and its subsidiaries to a single enterprise reaches 10% or more of the company's net worth according to the most recent financial statement.
(III) The new amount of funds lent by the company or its subsidiaries reaches

NTD 10 million or more and 2% or more of the company's net worth according to the most recent financial statement.

III. If the subsidiary of this Corporation is not a domestically publicly listed company and the subsidiary meets the criteria of the third item of the preceding paragraph that should be announced and reported, it shall be done by this Corporation.

IV. The company should assess the situation of loaning funds and allocate adequate allowances for doubtful accounts in accordance with International Financial Reporting Standards. Additionally, it should appropriately disclose relevant information in the financial report and provide related materials for the certifying accountant to perform necessary auditing procedures.

Article 18: Control procedures for lending funds to others by the subsidiaries

I. If a subsidiary of the company intends to lend funds to others, the company should instruct the subsidiary to establish operational procedures for lending funds to others in accordance with these guidelines, and ensure that these procedures are followed.

II. The subsidiary's internal auditors shall also conduct audits of the operational procedures for lending funds to others and its execution at least quarterly, and prepare written records. If any significant violations are found, the company's auditing unit shall be immediately notified in writing. The company's auditing unit shall then submit the written documentation to the Audit Committee.

III. When the company's auditors conduct audits on subsidiaries according to the annual audit plan, they should also review the execution of the operational procedures for lending funds to others by the subsidiary. If any deficiencies are found, the auditors should continually track the improvement progress and prepare a follow-up report to be submitted to the Audit Committee and reported to the Chairman.

Article 19: Penalties

When the Company's managers and handling personnel violate these guidelines, depending on the severity, the Company will handle the matter in accordance with its personnel management...

Punishments will be administered in accordance with the regulations in the management rules and the employee handbook.

Article 20: Implementation and revision

I. The Company's "Guidelines for Lending Funds to Others" shall be approved by more than half of all members of the Audit Committee, resolved by the Board of Directors, and submitted for approval at the Shareholders' Meeting. Any amendments shall follow the same process. If any director voices an objection and it is recorded or in a written statement, the company shall forward the director's objection materials to each member of the Audit Committee and submit them for discussion at the Shareholders' Meeting.

II. If the preceding item is not approved by more than half of all members of the Audit

Committee, it may proceed with the consent of more than two-thirds of all directors and should be recorded in the Board meeting minutes as a resolution of the Audit Committee.

III. The term "all members of the Audit Committee" and "all directors" referred to in the preceding paragraph shall be calculated based on those actually in office.

IV. When the "Guidelines for Lending Funds to Others" are submitted to the Board of Directors for discussion, the opinions of each Independent Director should be fully considered. If any Independent Director has dissenting or reserved opinions, they should be recorded in the meeting minutes.

Appendix 5. Rules and Procedures for Shareholders' Meeting

Vetnostrum Animal Health Co., Ltd.

Rules and Procedures for Shareholders' Meeting

Article 1: Purpose

To establish a strong governance system and sound supervisory capabilities for this Corporation's shareholders meetings, and to strengthen management capabilities, these Rules are adopted pursuant to Article 5 of the Corporate Governance Best-Practice Principles for TWSE/GTSM Listed Companies.

Article 2: Applicability

The Company's shareholders meetings, except as otherwise provided by law, regulation, or the articles of incorporation, shall proceed according to the Rules.

Article 3: Convention and notification of shareholders' meetings

Unless otherwise provided by law or regulation, the Company's shareholders' meetings shall be convened by the Board of Directors.

Any change in the method of convention of shareholders' meeting shall be resolved by the Board of Directors and shall be determined by no later than the mailing of shareholders' meeting notice.

This Corporation shall prepare electronic versions of the shareholders meeting notice and proxy forms, and the origins of and explanatory materials relating to all proposals, including proposals for ratification, matters for deliberation, or the election or dismissal of directors, and upload them to the Market Observation Post System (MOPS) 30 days before the date of a regular shareholders meeting or 15 days before the date of a special shareholders meeting. At least 21 days before an annual shareholders' meeting or 15 days before a special shareholders' meeting, an electronic copy of the shareholder meeting conference handbook and supplementary information shall be prepared and posted onto MOPS. However, if the Company reports NT$10 billion of paid-in capital or above at the end of the most recent financial year, or if shares of the Company are held by foreign or Mainland investors for an aggregate percentage of 30% or more, as shown in the shareholders registry of the most recent financial year, such electronic files shall be posted 30 days before the annual shareholders' meeting. Hard copies of the shareholders' meeting conference handbook and supplementary information also have to be prepared at least 15 days before the meeting and made accessible by shareholders at any time. These documents must be made available at the Company's premises and at the share transfer agent.

The shareholders' meeting handbook and supplemental meeting materials referred to in

the preceding paragraph shall be provided for the shareholders to review on the day of the shareholders' meeting through the following methods:

provided for the shareholders to review:

I. The materials shall be distributed on-site at the meeting place when holding physical shareholders' meetings.

II. The materials shall be distributed on-site at the meeting place as well as uploaded as electronic files to the video conference platform when holding hybrid shareholders' meetings.

III. The materials shall be uploaded as electronic files to the video conference platform when holding shareholders' meetings through video conferencing.

The reasons for convening a shareholders meeting shall be specified in the meeting notice and public announcement. With the consent of the addressee, the meeting notice may be given in electronic form.

Election or dismissal of Directors, amendments to the articles of incorporation, reduction of capital, application for the approval of ceasing its status as a public company, approval of competing with the Company by Directors, surplus profit distributed in the form of new shares, reserve distributed in the form of new shares, the dissolution, merger, or demerger of the Company, or any matter under Article 185, Paragraph 1 of the Company Act, Articles 26-1 and 43-6 of the Securities and Exchange Act, Articles 56-1 and 60-2 of the Regulations Governing the Offering and Issuance of Securities by Securities Issuers shall be set out and the essential contents explained in the notice of the reasons for convening the shareholders meeting. None of the above matters may be raised through extempore motion.

Where re-election of all directors as well as their inauguration date is stated in the notice of the reasons for convening the shareholders meeting, after the completion of the re-election in said meeting such inauguration date may not be altered through any extempore motion or otherwise in the same meeting.

A shareholder holding one percent or more of the total number of issued shares may submit to this Corporation a proposal for discussion at a regular shareholders' meeting. The number of items so proposed is limited to one only, and no proposal containing more than one item will be included in the meeting agenda. When the circumstances of any subparagraph of Article 172-1, paragraph 4 of the Company Act apply to a proposal put forward by a shareholder, the Board of Directors may exclude it from the agenda. A shareholder may propose a recommendation for urging the Company to promote public interests or fulfill its social responsibilities, provided procedurally the number of items so proposed is limited only to one in accordance with Article 172-1 of the Company Act, and no proposal containing more than one item will be included in the meeting agenda.

Prior to the book closure date before a regular shareholders' meeting is held, this Corporation shall publicly announce its acceptance of shareholder proposals in writing or electronically, and the location and time period for their submission; the period for submission of shareholder proposals may not be less than 10 days.

Shareholder-submitted proposals are limited to 300 words, and no proposal containing more than 300 words will be included in the meeting agenda. The shareholder making the proposal shall be present in person or by proxy at the regular shareholders meeting and take part in discussion of the proposal.

Prior to the date for issuance of notice of a shareholders meeting, this Corporation shall inform the shareholders who submitted proposals of the proposal screening results, and shall list in the meeting notice the proposals that conform to the provisions of this article. At the shareholders meeting the Board of Directors shall explain the reasons for exclusion of any shareholder proposals not included in the agenda.

Article 4: Shareholders' attendance and proxy attendance

For each shareholders meeting, a shareholder may appoint a proxy to attend the meeting by providing the proxy form issued by this Corporation and stating the scope of the proxy's authorization.

A shareholder may issue only one proxy form and appoint only one proxy for any given shareholders meeting, and shall deliver the proxy form to this Corporation before five days before the date of the shareholders meeting. When duplicate proxy forms are delivered, the one received earliest shall prevail. This does not apply if a declaration of revocation is made for the previous proxies.

After a proxy form has been delivered to this Corporation, if the shareholder intends to attend the meeting in person or to exercise voting rights by correspondence or electronically, a written notice of proxy cancellation shall be submitted to this Corporation two business days before the meeting date. If the cancellation notice is submitted after that time, votes cast at the meeting by the proxy shall prevail.

After the proxy form has been submitted to the Company, if the shareholder intends to attend the meeting through video conferencing, a written notice of proxy cancellation shall be submitted to the Company 2 days prior to the meeting date. If the cancellation notice is submitted after that time, the votes cast at the meeting by the proxy shall prevail.

Article 5: Principles determining the time and place of a shareholders meeting

The venue for a shareholders meeting shall be the premises of this Corporation, or a place easily accessible to shareholders and suitable for a shareholders meeting. The meeting may begin no earlier than 9 a.m. and no later than 3 p.m. Full consideration shall be given to the opinions of the independent directors with respect to the place and

time of the meeting.

When holding a shareholders' meeting through video conferencing, the Company shall not be subject to the aforementioned restrictions on the venue for shareholders' meetings.

Article 6: Preparation of documents such as the attendance book

The Company shall specify in its shareholders' meeting notices the time and place of attendance registration and other matters to be noted for shareholders, solicitors, and proxies (hereinafter collectively referred to as "shareholders"). The time of attendance registration stated in the preceding paragraph shall be at least 30 minutes prior to the start time of the meeting. The place of attendance registration shall be clearly marked, and a sufficient number of suitable personnel shall be assigned to handle the registration. When the Company holds a shareholders' meeting through video conferencing, attendance registration shall be accepted on the video conferencing platform of the shareholders' meeting at least 30 minutes prior to the start time of the meeting. A shareholder who has completed the attendance registration shall be deemed to have attended the meeting in person.

Shareholders shall attend shareholders' meetings by presenting attendance cards, sign-in cards, or other certificates of attendance. The Company may not arbitrarily require other documents beyond those showing eligibility to attend presented by shareholders. Solicitors soliciting proxy forms shall also bring identification documents for verification.

An attendance log shall be prepared to record shareholders' attendance; alternatively, shareholders may present attendance cards to signify their presence.

This Corporation shall furnish attending shareholders with the meeting handbook, annual report, attendance card, speaker's slips, voting slips, and other meeting materials. Where there is an election of directors, pre-printed ballots shall also be furnished.

When the government or a juristic person is a shareholder, it may be represented by more than one representative at a shareholders meeting. When a juristic person is appointed to attend as proxy, it may designate only one person to represent it in the meeting.

When the Company holds a shareholders' meeting through video conferencing, shareholders who intend to attend the shareholders' meeting through video conferencing shall register with the Company at least 2 days before the date of the shareholders' meeting.

When holding a shareholders' meeting through video conferencing, the Company shall upload the shareholders' meeting handbook, annual report, and other relevant meeting materials to the video conferencing platform for the shareholders' meeting at least 30

minutes prior to the start time of the meeting and continue to disclose such materials until the meeting ends.

Article 6-1: Shareholders' meetings through video conferencing and the particulars required in the meeting notice

When holding a shareholders' meeting through video conferencing, the Company shall specify the following particulars in the shareholders' meeting notice:

I. The procedures for shareholders to participate in the shareholders' meeting through video conferencing and to exercise their rights.

II. Actions to be taken if the video conference platform or participation in the video conference meeting is obstructed due to natural disasters, emergencies, or other force majeure events, including, but not limited to:

(I) To what time the meeting is postponed or from what time the meeting will reconvene if the above obstruction continues and cannot be removed, and, if applicable, the date to which the meeting is postponed or on which the meeting will reconvene.

(II) Shareholders who did not register to attend the original shareholders' meeting by video conferencing may not attend the postponed or reconvened meeting.

(III) When the Company holds a hybrid shareholders' meeting, in the event that the meeting cannot be reconvened through video conferencing, after deducting the number of shares represented by the shareholders attending through video conferencing, if the total number of the remaining shares meets the minimum legal amount of meeting participants, the shareholders' meeting shall continue. For the shareholders attending through video conferencing, their shares shall be counted toward the total number of shares represented by the shareholders present at the meeting; however, they shall be considered abstained in all proposals of that meeting.

(IV) The procedures for when the resolutions of all proposals have been announced and no extempore motion has been made.

III. When holding a shareholders' meeting through video conferencing, the Company shall specify the provisions of adequate alternative measures for shareholders who have difficulties attending the shareholders' meeting through video conferencing.

Article 7: The chair and non-voting participants of a shareholders meeting

If a shareholders meeting is convened by the Board of Directors, the meeting shall be chaired by the chairperson of the board. When the chairperson of the board is on leave or for any reason unable to exercise the powers of the chairperson, the vice chairperson shall act in place of the chairperson; if there is no vice chairperson or the vice

chairperson also is on leave or for any reason unable to exercise the powers of the vice chairperson, the chairperson shall appoint one of the managing directors to act as chair, or, if there are no managing directors, one of the directors shall be appointed to act as chair. Where the chairperson does not make such a designation, the managing directors or the directors shall select from among themselves one person to serve as chair.

When a managing director or a director serves as chair, as referred to in the preceding paragraph, the managing director or director shall be one who has held that position for six months or more and who understands the financial and business conditions of the Company. The same shall be true for a representative of a juristic person director that serves as chair.

It is advisable that shareholders meetings convened by the Board of Directors be chaired by the chairperson of the board in person and attended by a majority of the directors in person, and at least one member of each functional committee on behalf of the committee. The attendance shall be recorded in the meeting minutes.

If a shareholders meeting is convened by a party with power to convene but other than the Board of Directors, the convening party shall chair the meeting. When there are two or more such convening parties, they shall mutually select a chair from among themselves.

This Corporation may appoint its attorneys, certified public accountants, or related persons retained by it to attend a shareholders meeting in a non-voting capacity.

Article 8: Documentation of a shareholders meeting by audio or video

The Company shall make continuous and uninterrupted audio and video recordings of the whole process of shareholder registration, meeting and vote when accepting the reporting of shareholders.

The recorded materials of the preceding paragraph shall be retained for at least one year. If, however, a shareholder files a lawsuit pursuant to Article 189 of the Company Act, the ballots shall be retained until the conclusion of the litigation.

When holding the shareholders' meeting through video conferencing, the Company shall keep records of shareholders' enrollment, registration, attendance, questions asked, votes cast, and voting results and also make an uninterrupted audio and video recording of the proceedings of any shareholders' meeting held through video conferencing.

The information as well as the audio and video recording mentioned in the preceding paragraph shall be properly preserved by the Company, and the audio and video recording shall be submitted to the personnel in charge of video conferencing on behalf of the Company for safekeeping.

Where shareholders' meeting is held by way of video conferencing, the Company should also record the back-end user interface on the video conferencing platform.

Article 9: The standard of calling the meeting

Attendance at shareholders meetings shall be calculated based on numbers of shares. The number of shares in attendance shall be calculated according to the shares indicated by the attendance book or the sign-in cards handed in and the number of shares registered at the video conferencing platform plus the number of shares whose voting rights are exercised by correspondence or electronically.

The chair shall call the meeting to order at the appointed meeting time and disclose information concerning the number of nonvoting shares and number of shares represented by shareholders attending the meeting.

However, when the attending shareholders do not represent a majority of the total number of issued shares, the chair may announce a postponement, provided that no more than two such postponements, for a combined total of no more than one hour, may be made. If the quorum is not met after two postponements and the attending shareholders still represent less than one third of the total number of issued shares, the chair shall declare the meeting adjourned. When holding the shareholders' meeting through video conferencing, the Company shall also declare the meeting adjourned on the video conferencing platform for the shareholders' meeting.

If the quorum is not met after two postponements as referred to in the preceding paragraph, but the attending shareholders represent one-third or more of the total number of issued shares, a tentative resolution may be adopted pursuant to Paragraph 1 of Article 175 of the Company Act; all shareholders shall be notified of the tentative resolution and another shareholders' meeting shall be convened within 1 month. When the Company holds a shareholders' meeting through video conferencing, shareholders intending to attend the meeting through video conferencing shall re-register with the Company in accordance with Article 6.

When, prior to conclusion of the meeting, the attending shareholders represent a majority of the total number of issued shares, the chair may resubmit the tentative resolution for a vote by the Shareholders' Meeting pursuant to Article 174 of the Company Act.

Article 10: Discussion of proposals

If a shareholders meeting is convened by the Board of Directors, the meeting agenda shall be set by the Board of Directors. Votes shall be cast on each separate proposal in the agenda (including extempore motions and amendments to the original proposals set out in the agenda). The meeting shall proceed in the order set by the agenda, which may not be changed without a resolution of the shareholders meeting.

The provisions of the preceding paragraph apply mutatis mutandis to a shareholders meeting convened by a party with the power to convene that is not the Board of

Directors.

The chair may not declare the meeting adjourned prior to completion of deliberation on the meeting agenda of the preceding two paragraphs (including extempore motions), except by a resolution of the shareholders meeting. If the chair declares the meeting adjourned in violation of the rules of procedure, the other members of the Board of Directors shall promptly assist the attending shareholders in electing a new chair in accordance with statutory procedures, by agreement of a majority of the votes represented by the attending shareholders, and then continue the meeting.

The chair must allow adequate time to explain and discuss various motions, amendments or extempore motions proposed during the meeting.

The chair may announce to discontinue further discussions if the issue in question is considered to have been sufficiently discussed to proceed with voting.

Article 11: Shareholders' opinions

Before speaking, an attending shareholder must specify on a speaker's slip the subject of the speech, his/her shareholder account number (or attendance card number), and account name. The order in which shareholders speak will be set by the chair.

A shareholder in attendance who has submitted a speaker's slip but does not actually speak shall be deemed to have not spoken. When the content of the speech does not correspond to the subject given on the speaker's slip, the spoken content shall prevail.

Except with the consent of the chair, a shareholder may not speak more than twice on the same proposal, and a single speech may not exceed 5 minutes. If the shareholder's speech violates the rules or exceeds the scope of the agenda item, the chair may terminate the speech.

When an attending shareholder is speaking, other shareholders may not speak or interrupt unless they have sought and obtained the consent of the chair and the shareholder that has the floor; the chair shall stop any violation.

When a juristic person shareholder appoints two or more representatives to attend a shareholders meeting, only one of the representatives so appointed may speak on the same proposal.

After an attending shareholder has spoken, the chair may respond in person or direct relevant personnel to respond.

When the Company holds a shareholders' meeting through video conferencing, the shareholders attending through video conferencing may ask questions by text on the video conferencing platform for the shareholders' meeting from the time the meeting is commenced by the chair until the meeting is adjourned, subject to a limit of two questions per motion of 200 words each, provided that the provisions in Paragraphs 1 to 5 do not apply. If the aforementioned question does not violate the regulations or is

within the scope of the motion, it is appropriate to disclose the question on the video conferencing platform of the shareholders' meeting for public information.

Article 12: Calculation of voting shares and recusal system

Voting at a shareholders meeting shall be calculated based on the number of shares.

With respect to resolutions of shareholders meeting, the number of shares held by a shareholder with no voting rights shall not be calculated as part of the total number of issued shares.

When a shareholder is an interested party in relation to an agenda item, and there is the likelihood that such a relationship would prejudice the interests of this Corporation, that shareholder may not vote on that item, and may not exercise voting rights as proxy for any other shareholder.

The number of shares for which voting rights may not be exercised under the preceding paragraph shall not be calculated as part of the voting rights represented by attending shareholders.

With the exception of a trust enterprise or a shareholder services agent approved by the competent securities authority, when one person is concurrently appointed as proxy by two or more shareholders, the voting rights represented by that proxy may not exceed three percent of the voting rights represented by the total number of issued shares. If that percentage is exceeded, the voting rights in excess of that percentage shall not be included in the calculation.

Article 13: Exercise of voting rights

A shareholder shall be entitled to one vote for each share held, except when the shares are restricted to shares or are deemed non-voting shares under Article 179, Paragraph 2 of the Company Act.

When this Corporation holds a shareholder meeting, it shall adopt exercise of voting rights by electronic means and may adopt exercise of voting rights by correspondence. When voting rights are exercised by correspondence or electronic means, the method of exercise shall be specified in the shareholders meeting notice. A shareholder exercising voting rights by correspondence or electronic means will be deemed to have attended the meeting in person, but to have waived his/her rights with respect to the extempore motions and amendments to original proposals of that meeting; it is therefore advisable that this Corporation avoid the submission of extempore motions and amendments to original proposals.

A shareholder intending to exercise voting rights by correspondence or electronic means under the preceding paragraph shall deliver a written declaration of intent to the Company before two days before the date of the shareholders meeting. When duplicate declarations of intent are delivered, the one received earliest shall prevail. This does not

apply if a declaration is made to cancel the earlier declaration of intent.

After a shareholder has exercised voting rights by correspondence or electronic means, in the event the shareholder intends to attend the shareholders' meeting in person or through video conferencing, a written declaration of intent to retract the voting rights already exercised under the preceding paragraph shall be made known to the Company, by the same means by which the voting rights were exercised, 2 days before the date of the shareholders' meeting. If the notice of retraction is submitted after that time, the voting rights already exercised by correspondence or electronic means shall prevail. When a shareholder has exercised voting rights both by correspondence or electronic means and by appointing a proxy to attend a shareholders meeting, the voting rights exercised by the proxy in the meeting shall prevail.

Except as otherwise provided in the Company Act and in this Corporation's articles of incorporation, the passage of a proposal shall require an affirmative vote of a majority of the voting rights represented by the attending shareholders. At the time of a vote, for each proposal, the chair or a person designated by the chair shall first announce the total number of voting rights represented by the attending shareholders, followed by a poll of the shareholders. After the conclusion of the meeting, on the same day it is held, the results for each proposal, based on the numbers of votes for and against and the number of abstentions, shall be entered into the MOPS.

When there is an amendment or an alternative to a proposal, the chair shall present the amended or alternative proposal together with the original proposal and decide the order in which they will be put to a vote. When any one among them is passed, the other proposals will then be deemed rejected, and no further voting shall be required.

Vote monitoring and counting personnel for the voting on a proposal shall be appointed by the chair, provided that all monitoring personnel shall be shareholders of this Corporation.

Vote counting for shareholders meeting proposals or elections shall be conducted in public at the place of the shareholders meeting. Immediately after vote counting has been completed, the results of the voting, including the statistical tallies of the numbers of votes, shall be announced on-site at the meeting, and a record made of the vote.

When the Company holds a shareholders' meeting through video conferencing, shareholders attended by video conferencing should vote on each motion and election motion through the video conferencing platform from the time the meeting is commenced by the chair and should complete the voting before the end of the voting is announced by the chair; if the vote was made overdue, then it shall be deemed as they waived their rights.

When the Company holds a shareholders' meeting through video conferencing, the

counting operation must be a one-time count after the end of voting is announced by the chair, and then the chair shall announce the results of voting and election.

If a shareholder who registered to attend the video-assisted shareholders' meeting through video conferencing in accordance with the provisions in Article 6 intends to attend a physical shareholders' meeting, he or she shall exercise a declaration of intent to retract the registration with the same method as the registration was made 2 days prior to the day of the shareholders' meeting; if the declaration of intent to retract was made overdue, then he or she may only attend the shareholders' meeting by video conferencing.

If a shareholder exercises his or her voting rights by correspondence or electronically and does not retract his or her intent and attends the shareholders' meeting by video conferencing, he or she may not exercise his or her voting rights on the original motion or propose amendments to the original motion or exercise his or her voting rights on amendments to the original motion, except for a temporary motion.

Article 14: Elections

The election of directors at a shareholders meeting shall be held in accordance with the applicable election and appointment rules adopted by this Corporation, and the voting results shall be announced on-site immediately, including the names of those elected as directors and the numbers of votes with which they were elected.

The ballots for the election referred to in the preceding paragraph shall be sealed with the signatures of the monitoring personnel and kept in proper custody for at least one year. If, however, a shareholder files a lawsuit pursuant to Article 189 of the Company Act, the ballots shall be retained until the conclusion of the litigation.

Article 15: Meeting minutes

Matters relating to the resolutions of a shareholders meeting shall be recorded in the meeting minutes. The meeting minutes shall be signed or sealed by the chair of the meeting and a copy distributed to each shareholder within 20 days after the conclusion of the meeting. The meeting minutes may be produced and distributed in electronic form.

This Corporation may distribute the meeting minutes of the preceding paragraph by means of a public announcement made through the MOPS.

The meeting minutes shall accurately record the year, month, day, and place of the meeting, the chair's full name, the methods by which resolutions were adopted, and a summary of the deliberations and their voting results (including the number of voting rights), and disclose the number of voting rights won by each candidate in the event of an election of directors. The minutes shall be retained for the duration of the existence of this Corporation.

Where a video conference shareholders' meeting is convened, in addition to the particulars to be included in the meeting minutes as described in the preceding paragraph, the start time and end time of the shareholders' meeting, how the meeting is convened, the name of the chairperson and secretary, as well as the actions to be taken in the event of interruptions to the video conference platform or participation due to natural disasters, emergencies, or other force majeure circumstances shall also be included in the minutes.

When holding a shareholders' meeting through video conferencing, this Corporation shall handle relevant matters in accordance with the preceding provision, and specify in the meeting minutes the provisions of the alternative measures to shareholders having difficulties attending the shareholders' meeting through video conferencing.

Article 16: Public disclosure

On the day of the shareholder meeting, the Company shall disclose information on the number of shares acquired by proxy form acquirers, the number of shares represented by proxies, and the number of shares with voting rights exercised in writing or through the electronic method at the meeting venue using the prescribed format. When holding a shareholders' meeting through video conferencing, the Company shall upload the abovementioned materials to the video conferencing platform for the shareholders' meeting at least 30 minutes prior to the start time of the meeting and continue to disclose such materials until the meeting ends.

When holding a shareholders' meeting through video conferencing, the Company shall disclose the total number of shares in attendance on the video conferencing platform from the time the meeting is commenced by the chair. The same applies to the statistics on the total number of shares in attendance and number of votes during the meeting.

The Company shall disclose on MOPS in a timely manner any shareholders' meeting resolutions that constitute material information as defined by law or the rules of Taiwan Stock Exchange Corporation (or Taipei Exchange).

Article 17: Maintaining order at the meeting place

Staff handling administrative affairs of a shareholders meeting shall wear identification cards or arm bands.

The chair may direct the proctors or security personnel to help maintain order at the meeting place. While maintaining order in the meeting, all disciplinary officers and security staff are required to wear arm badges or identifications that identify their role as "Security."

At the place of a shareholders meeting, if a shareholder attempts to speak through any device other than the public address equipment set up by this Corporation, the chair may prevent the shareholder from so doing.

When a shareholder violates the rules of procedure and defies the chair's correction, obstructing the proceedings and refusing to heed calls to stop, the chair may direct the proctors or security personnel to escort the shareholder from the meeting.

Article 18: Recess and resumption of a shareholders meeting

When a meeting is in progress, the chair may announce a break based on time considerations. If a force majeure event occurs, the chair may rule the meeting temporarily suspended and announce a time when, in view of the circumstances, the meeting will be resumed.

If the meeting venue is no longer available for continued use and not all of the items (including extempore motions) on the meeting agenda have been addressed, the shareholders meeting may adopt a resolution to resume the meeting at another venue.

A resolution may be adopted at a shareholders meeting to defer or resume the meeting within five days in accordance with Article 182 of the Company Act.

Article 19: Disclosures for meetings held via video conferencing

When holding the shareholders' meeting through video conferencing, the Company shall disclose the results of voting for each proposal and the election immediately after voting ends in accordance with the provisions and continue to disclose such information for at least 15 minutes after the meeting is adjourned by the chair.

Article 20: Location of the chair and the minute taker(s) for meetings held via video conferencing

Where shareholders' meeting is held by way of video conferencing, both the chair and the minutes taker must be at the same domestic location, and the address of which is to be announced by the chair when the meeting commences.

Article 21: Event of signal disruption

Where shareholders' meeting is held by way of video conferencing, the Company may conduct basic connection test for shareholders prior to the meeting, and provide real-time services as deemed necessary to resolve any connection or technical issues.

Where shareholders' meeting is held by way of video conferencing, the chair shall, upon commencement of the meeting, announce to participants the meeting's postponement or resumption date set in the next 5 days if the video conferencing platform malfunctions or if the live stream discontinues persistently for 30 minutes or longer due to natural disaster, manmade incident, or other force majeure event before adjournment, except for the situations outlined in Paragraph 4, Article 44-20 of Regulations Governing the Administration of Shareholder Services of Public Companies in which postponement or premature adjournment of meeting is not required, and that postponement/premature adjournment is not subject to Article 182 of the Company Act.

In the event that the meeting shall be postponed or reconvened due to circumstances described in the preceding paragraph, shareholders who did not register to attend the

original shareholders' meeting by video conferencing may not attend the postponed or reconvened meeting.

In the event that the Company shall postpone or reconvene the meeting in accordance with Paragraph II, for shareholders who registered to attend the original shareholders' meeting by video conferencing and whose attendance registration was accepted but did not attend the postponed or reconvened meeting, the number of their shares, votes they exercised, and votes they received shall be counted toward the total number of shares in attendance, exercised votes, and number of votes at the postponed or reconvened meeting.

In the event that the Company postponed or reconvened the meeting in accordance with the provisions in Paragraph II, the Company does not need to re-discuss or re-resolve the proposals with completed votes casting and counting and announced results of the voting, or elected list of directors and supervisors.

When the Company holds a hybrid shareholders' meeting, and the video conference meeting cannot continue due to circumstances described in Paragraph II, if the total number of shares represented at the meeting after deducting those represented by the shareholders attending through video conferencing still meets the minimum legal requirement for a shareholders' meeting, then the meeting shall continue without the need to postpone or reconvene in accordance with Paragraph II.

In the event that the meeting shall continue under the circumstances described in the preceding paragraph, for shareholders attending the shareholders' meeting by video conferencing, the number of their shares shall be counted toward the total number of shares in attendance; however, they shall be considered abstained in all proposals of that meeting.

When postponing or resuming a meeting according to Paragraph II, the Company shall handle the preparatory work based on the date of the original shareholders' meeting in accordance with the requirements listed under Paragraph 7 of Article 44-20 of the Regulations Governing the Administration of Shareholder Services of Public Companies.

The Company shall hold the postponed or reconvened shareholders' meeting in accordance with the provisions in Paragraph 2 on the dates within the period specified in the second half of Article 12 and Paragraph 3 of Article 13 of the Regulations Governing the Use of Proxies for Attendance at Shareholder Meetings of Public Companies as well as Paragraph 2 of Article 44-5, Article 44-15, and Paragraph 1 of Article 44-17 of the Regulations Governing the Administration of Shareholder Services of Public Companies.

Article 22: Handling of digital divide

When holding a shareholders' meeting through video conferencing, the Company shall provide adequate alternative measures available to shareholders with difficulties in attending a video conferencing shareholders' meeting.

Article 23: Implementation and revision

These Rules shall take effect after having been submitted to and approved by a shareholders meeting. Subsequent amendments thereto shall be affected in the same manner.

Appendix 6. Director Election Procedure

Vetnostrum Animal Health Co., Ltd.

Director Election Procedure

Article 1: To fairly, justly, and openly select Directors, this procedure is established in accordance with Article 21 and Article 41 of the "Corporate Governance Best-Practice Principles for TWSE/GTSM Listed Companies."

Article 2: Unless otherwise specified by law or the articles of incorporation, the selection of the Company's Directors shall be conducted in accordance with these procedures.

Article 3: The selection of the Company's Directors should consider the overall composition of the Board of Directors. The composition of the Board should consider diversity and draft appropriate diversity policies based on its operations, business type, and development needs. These policies should ideally include, but not be limited to, standards in the following two major areas:

I. Basic criteria and values: gender, age, nationality, and culture, etc.

II. Professional knowledge and skills: Professional background (such as law, accounting, industry, finance, marketing, or technology), professional skills, and industry experience, etc.

Members of the Board of Directors should generally possess the knowledge, skills, and qualities necessary to perform their duties. The overall capabilities they should have are as follows:

I. Operational judgment capability.

II. Accounting and financial analysis capabilities.

III. Operational management capability.

IV. Crisis management capability.

V. Industry knowledge.

VI. International market perspective.

VII. Leadership ability.

VIII. Decision-making ability.

More than half of the seats among Directors should not have marital or second-degree kinship relationships.

The Company's Board of Directors should consider adjusting the composition of its members based on the results of the performance evaluation.

Article 4: (Deleted)

Article 5: The qualifications of the Company's Independent Directors shall comply with the provisions of Articles 2, 3, and 4 of the "Regulations Governing Appointment of Independent Directors and Compliance Matters for Public Companies."

The selection of the Company's Independent Directors shall comply with the provisions of Articles 5, 6, 7, 8, and 9 of the "Regulations Governing Appointment of Independent Directors and Compliance Matters for Public Companies," and shall be conducted in accordance with Article 24 of the "Corporate Governance Best-Practice Principles for TWSE/GTSM Listed Companies."

Article 6: The election of the Company's non-independent directors, in coordination with the Articles of Incorporation and after the Company's stock listing (on the TWSE/GTSM), shall be conducted in accordance with the candidate nomination system procedure stipulated in Article 192-1 of the Company Act.

If the number of directors falls below five due to dismissal for any reason, the Company shall hold a by-election at its next shareholders' meeting. When the number of vacancies in the Board of Directors equals to one-third of the seats as prescribed in the Articles of Incorporation, the Company shall convene a special shareholders' meeting and hold a by-election within 60 days from the date of occurrence to fill the vacancies.

When the number of independent directors falls below the requirement stipulated in the proviso of Paragraph 1, Article 14-2 of the Securities and Exchange Act, the Company shall hold a by-election at its next shareholders' meeting; in situations where all independent directors have been dismissed, the Company shall convene a special shareholders' meeting and hold a by-election within 60 days from the date of occurrence to fill the open positions.

Article 7: The Company's director elections adopt a cumulative voting system, where each share has voting rights equivalent to the number of directors to be elected. These votes can be concentrated to elect a single candidate or distributed among several candidates.

Article 8: The board of directors shall prepare a number of ballots equal to the number of directors to be elected, indicating the number of votes attached to each, for distribution to shareholders attending the shareholders' meeting. The voter's name may be replaced with the attendance certificate number printed on the ballot.

Article 9: The Company's directors are elected in accordance with the number of seats specified in the Articles of Incorporation, separately calculating the election rights for independent directors and non-independent directors. The candidates with the highest number of election rights will be elected sequentially. If two or more individuals receive the same

number of rights, exceeding the specified number of seats, the tie shall be resolved by drawing lots. If any tied candidate is absent, the Chairman will draw lots on their behalf.

Article 10: Before the commencement of the election, the chair shall appoint several vote monitoring and counting personnel, who must be shareholders, to perform related duties. The ballot box shall be prepared by the Board of Directors and publicly inspected by the monitoring personnel before voting.

Article 11: If the candidate is a shareholder, the voter must fill in the candidate's account name and shareholder account number in the candidate section of the ballot. If the candidate is not a shareholder, the voter's name and identification document number should be provided. If the candidate is a government or corporate shareholder, the candidate's account name section on the ballot should include the name of the government or corporation, and may also include the name of its representative. If there are multiple representatives, the names of the representatives should be added separately.

Article 12: Election ballots are invalid under the following conditions:

I. Ballots prepared by a party with the power to convene.
II. Ballots placed into the ballot box that are blank.
III. Ballots with illegible handwriting or alterations.
IV. If the candidate is a shareholder and the account name or shareholder account number provided does not match the shareholder register; if the candidate is not a shareholder and the name or identification document number provided does not match upon verification.
V. In addition to filling in the candidate's account name (Name) or shareholder account number (identification document number) and the distribution of voting rights, writing other text is prohibited.
VI. If the name of the candidate provided is the same as another shareholder and the shareholder account number or identification document number, which can be used for identification, is not provided.
VII. In addition to filling in the candidate's account name (Name) or shareholder account number (identification document number) and the distribution of voting rights, any alterations to any of these items are prohibited.

Article 13: After the voting is completed, the votes shall be counted on-site, and the results shall be announced immediately by the chair, including the list of those elected as directors and the numbers of votes with which they were elected.

ballots shall be retained until the conclusion of the litigation.

Article 14: The elected Directors shall be issued an election notification by the Company's Board of Directors.

Article 15: These Rules shall take effect after having been submitted to and approved by a shareholders meeting. Subsequent amendments thereto shall be affected in the same manner.

Appendix 7. Description of the Proposal Screening Results Raised by Shareholders in This General Shareholders' Meeting

The Company's shareholder proposal acceptance period for 2026 was from March 16, 2026 to March 25, 2026. No shareholder proposals were submitted during this period.

Appendix 8. Shareholding Status of the Directors

Vetnostrum Animal Health Co., Ltd.

Shareholding Status of the Directors

I. The Company has paid-in capital of NT$728,040,000 in 72,804,000 issued shares.
II. According to "Rules and Review Procedures for Director and Supervisor Share Ownership Ratios at Public Companies, directors of the Company are required to maintain an aggregate holding of at least 5,824,320 shares.
III. Directors of the Company held 36,412,975 shares in aggregate, representing 50.02% of total shares issued.

Book closure date: March 24, 2026

Title	Name	Date elected	Number of shares held on book closure date		Remarks
			No. of shares	Shareholding percentage
Chairman	Representative of YungShin Global Holding Corporation: Wei-Kai Chung	2023.02.17	36,412,975	50.02 %	-
Director	Representative of YungShin Global Holding Corporation: Meng-Be Lin	2023.02.17	36,412,975	50.02 %	-
Director	Representative of YungShin Global Holding Corporation: Fang-Chen Lee	2023.02.17	36,412,975	50.02 %	-
Director	Representative of YungShin Global Holding Corporation: Bill Chien	2023.02.17	36,412,975	50.02 %	-
Director	Chun-Wei Lin	2023.02.17	-	-	-
Independent Director	Pao-Chu Luo	2023.02.17	-	-	-
Independent Director	Pan-Chiang Yang	2023.02.17	-	-	-
Independent Director	Shu-Hui Lee	2023.02.17	-	-	-
Independent Director	Chi-Ming Wang	2024.10.16	-	-	-
Total directors' shareholding			36,412,975	50.02 %	-

Vetnostrum

永浦國際生技股份有限公司

VEIROSTRUM ANIMAL HEALTH CO., LTD.

2026 MEETING HANDBOOK

AI assistant

Vetnostrum — Proxy Solicitation & Information Statement 2026

52669_rns_2026-04-21_a7b09887-5e9f-4eca-b957-1cd6aa68ef0f.pdf

2026 MEETING HANDBOOK

Table of Contents

Chapter 1 Meeting Agenda

I. Chairperson's Remarks

II. Announcements

III. Ratifications

IV. Elections

V. Discussions

VI. Extempore Motions

VII. Adjournment

Chapter 6 Extempore Motions

Chapter 7 Adjournment

II. Progress Overview

III. Outcomes of Business Plan

IV. Budgeted Operating Revenues And Expenses

V. Profitability analysis

VI. Research and Development

Audit Report

Audit Opinion

Basis for the Audit Opinion

Key Audit Matters

Revenue recognition

Description of Key Audit Matters:

Audit procedures in response:

Responsibilities of Management and Those Charged with Governance for the Financial Statements

The responsibilities of the auditor for the audit of the financial statements.

Vetnostrum Animal Health Co., Ltd.

BALANCE SHEETS

Vetnostrum Animal Health Co., Ltd.

Statements of Comprehensive Income

Vetnostrum Animal Health Co., Ltd.

Statements of Changes in Equity

January 1 to December 31, 2025 and 2024

Vetnostrum Animal Health Co., Ltd.

Statements of Cash Flows

Attachment 5. Report on the 2025 Related Party Transaction

Report on the 2025 Related Party Transaction

Attachment 7. Comparison Table of Amendments to the "Procedures for Ethical Management and Guidelines for Conduct"

Vetnostrum Animal Health Co., Ltd.

Attachment 8. Comparison Table of Amendments to the Articles of Incorporation

Vetnostrum Animal Health Co., Ltd.

Attachment 10. List of Director and Independent Director Candidates

Attachment 11. Summary Table of Concurrent Positions Held by Director Candidates

Appendix 1. "Ethical Corporate Management Best Practice Principles" (Before Amendment)

Vetnostrum Animal Health Co., Ltd.

Ethical Corporate Management Best Practice Principles

Article 23: Operating Procedures and Behavior Guidelines

Article 24: Education, training, and assessment

Appendix 2. "Procedures for Ethical Management and Guidelines for Conduct" (Before Amendment)

Vetnostrum Animal Health Co., Ltd.

Procedures for Ethical Management and Guidelines for Conduct

Appendix 3. Articles of Incorporation (Before Amendment)

Vetnostrum Animal Health Co., Ltd.

Articles of Incorporation

Appendix 5. Rules and Procedures for Shareholders' Meeting

Vetnostrum Animal Health Co., Ltd.

Rules and Procedures for Shareholders' Meeting

Article 14: Elections

Article 15: Meeting minutes

Appendix 6. Director Election Procedure

Vetnostrum Animal Health Co., Ltd.

Director Election Procedure

Appendix 7. Description of the Proposal Screening Results Raised by Shareholders in This General Shareholders' Meeting

Appendix 8. Shareholding Status of the Directors

Vetnostrum Animal Health Co., Ltd.

Shareholding Status of the Directors

Vetnostrum

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