Zoetis Appoints William F. Doyle to Board of Directors

FLORHAM PARK, N.J.--(BUSINESS WIRE)--Zoetis Inc. (NYSE:ZTS), the world's leading animal health company, today announced that its Board of Directors has appointed William F. Doyle, a Member of Pershing Square Capital Management's Investment Team, to the company's Board of Directors, effective February 3. With the addition of Mr. Doyle, the Zoetis Board will expand to 10 directors. Zoetis and Pershing Square reached an agreement providing for Mr. Doyle's election as well as the election in the future of an additional independent director mutually acceptable to Zoetis and Pershing Square.

"We welcome Bill to the Zoetis Board," said Zoetis Chief Executive Officer Juan Ramón Alaix. "He brings significant expertise and relevant industry and operational experience to Zoetis and I am confident he will provide valuable insight and perspectives as we continue to enhance our position as the world leader in animal health."

"As the industry leader in the animal health market, Zoetis is an exceptional company with a diverse product portfolio and great long-term value creation potential," said William F. Doyle. "I look forward to working constructively with Juan Ramón, Zoetis management and the Board to deliver value for all shareholders over the long-term."

Mr. Doyle has more than 20 years of experience in the healthcare industry. He is an Investment Team member at Pershing Square Capital Management, L.P. He is also the Co-Founder and Managing Partner at WFD Ventures LLC, which has provided equity financing and industry expertise to medical device, pharmaceutical and healthcare technology companies since 2003. From 1995 to 1999, he served as an executive at Johnson & Johnson. Previously, Mr. Doyle worked as a consultant with McKinsey & Company in its global healthcare practice.

Mr. Doyle will serve on the Corporate Governance Committee.

Pursuant to the agreement with Zoetis, Pershing Square and Sachem Head have agreed to certain customary standstill provisions.

About Zoetis

Zoetis (zô-EH-tis) is the leading animal health company, dedicated to supporting its customers and their businesses. Building on more than 60 years of experience in animal health, Zoetis discovers, develops, manufactures and markets veterinary vaccines and medicines, complemented by diagnostic products and genetic tests and supported by a range of services. In 2013, the company generated annual revenue of $4.6 billion. With approximately 9,800 employees worldwide at the beginning of 2014, Zoetis has a local presence in approximately 70 countries, including 27 manufacturing facilities in 10 countries. Its products serve veterinarians, livestock producers and people who raise and care for farm and companion animals in 120 countries. For more information, visit www.zoetis.com.

DISCLOSURE NOTICES

Forward-Looking Statements: This press release contains forward-looking statements, which reflect the current views of Zoetis with respect to business plans or prospects, future operating or financial performance, expectations regarding products, future use of cash and dividend payments, and other future events. These statements are not guarantees of future performance or actions. Forward-looking statements are subject to risks and uncertainties. If one or more of these risks or uncertainties materialize, or if management's underlying assumptions prove to be incorrect, actual results may differ materially from those contemplated by a forward-looking statement. Forward-looking statements speak only as of the date on which they are made. Zoetis expressly disclaims any obligation to update or revise any forward-looking statement, whether as a result of new information, future events or otherwise. A further list and description of risks, uncertainties and other matters can be found in our Annual Report on Form 10-K for the fiscal year ended December 31, 2013, including in the sections thereof captioned "Forward-Looking Information and Factors That May Affect Future Results" and "Item 1A. Risk Factors," in our Quarterly Reports on Form 10-Q and in our Current Reports on Form 8-K. These filings and subsequent filings are available online at www.sec.gov, www.zoetis.com, or on request from Zoetis.

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