Seeking Approval for 80 - 1 Reverse Stock Split

As announced on January 10, 2024, the Company will be holding a Special Virtual-Only Meeting of Shareholders ("Special Meeting") on Wednesday, February 28, 2024, at 1:00 p.m. ET, to seek approval to amend the articles of the Company to effect an 80-1 reverse stock split.

The Company believes the reverse stock split will help with a number of initiatives, all of which are aimed at positioning the Company to generate long-term shareholder value. Despite common apprehensions about reverse splits, Zomedica believes its strong operational profile - characterized by rapid growth, solid capitalization, and strong future prospects - differentiates it from typical companies undergoing reverse splits.

Some of the potential benefits from the proposed reverse split include:

• Attracting a Broader Range of Investors: The reverse split will increase the share price, potentially making Zomedica shares more appealing to institutional investors, investment funds, and brokerage firms, many of which have policies that prevent them from investing in stocks priced below certain thresholds.

Additionally, the 80-1 reverse split brings the share count to a level in line with peers, potentially making it more attractive to equity investors. A higher share price and reduced share count resulting from the reverse split could thus increase institutional investment.

• Eligibility for Stock Indices Inclusion: With an increased share price, Zomedica could meet the minimum price requirements for inclusion in popular stock indices like the Russell group of indices. Inclusion in such indices often leads to increased demand for shares and facilitates investment by institutional investors who track these indices.
• Increased Equity Research Analyst Coverage: A higher per share price could also attract more attention from the equity research analyst community, potentially expanding coverage of the company. This expanded coverage could, in turn, introduce the company to a larger pool of individual and institutional investors.
• Compliance with NYSE Listing Requirements: The reverse split aims to ensure compliance with the New York Stock Exchange's listing requirements, thus avoiding delisting. Delisting would relegate Zomedica shares to the Over-The-Counter market, where there is typically reduced trading volume and higher risks for investors.

All shareholders of record as of the close of business on Tuesday, January 9, 2024, will be entitled to notice of the Special Meeting, which provides the means to vote. Notice of the Special Meeting will be sent to Shareholders directly from their respective financial institutions and intermediaries.