Scott Anderson. Steve Armstrong. Chairman, President & Chief Executive Officer. Executive Vice President & Chief Financial Officer

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2 Scott Anderson Chairman, President & Chief Executive Officer Steve Armstrong Executive Vice President & Chief Financial Officer

3 Forward-Looking Statements This presentation contains forward-looking statements as defined in the Private Securities Litigation Reform Act of Forwardlooking statements are information of a non-historical nature and may be affected by risks and uncertainties that are inherent in the Company s business and beyond the ability of the Company to control. Such risks and uncertainties could cause actual results to differ materially from those anticipated. Accordingly, these risks are qualified in their entirety by the cautionary language contained in the Company s filings with the Securities and Exchange Commission.

4 Agenda Business Overview Strategies and Operations Financials

5 About Patterson Patterson Companies Specialty, value-added distributor serving three growing markets - Dental, veterinary, & rehabilitation supply Patterson Dental Provides a virtually complete range of consumable dental products, equipment and software, turnkey digital solutions and value-added services to dentists and dental laboratories throughout North America Patterson Veterinary Leading distributor of consumable veterinary supplies, equipment and software, diagnostic products, vaccines and pharmaceuticals to companion-pet veterinary clinics Patterson Medical World leading distributor of rehabilitation supplies and non-wheelchair assistive patient products to the physical and occupational therapy markets.

6 Patterson Companies Specialty Distributor Serving Three Markets Fiscal 2013 Revenues: $3,637,212,000 Dental 65% Medical 14% Veterinary 21%

7 Patterson Dental 33% market share (est.) Highly developed single-source strategy Over 120,000 customers in North America Leading provider of next-generation technology Largest distributor of dental equipment Industry s largest sales force Branch office network spans US & Canada

8 Patterson Veterinary 21% national market share (est.) Full-service model Sells widest range of consumables and pharmaceuticals in industry Expanding offerings of equipment, software, technical service, and other value-added services Growing range of technology solutions Serves companion-pet practices throughout U.S. Growth via internal expansion and acquisitions

9 Patterson Medical 12% global market share (est.) 3X-4X larger than nearest competitor Operations in North America, U.K., France & Australia Only single-source of supply in industry Owns/manufactures many leading brands Largest sales force in industry and major catalog operation Industry consolidator

10 Patterson s Markets Dental Projected long-term growth rate: 4-6% Growth drivers: aging population, demand for specialty services, aesthetics, technological advancements, and insurance Companion-Pet Veterinary Projected long-term growth rate: 4-5% Fastest growing segment of overall vet market Growth drivers: growing pet ownership, families spending more on pet care, human/animal bond Rehabilitation Projected long-term growth rate: 3-5% Growth drivers: aging population, active lifestyles and sports injuries, medical procedures with rehab protocols

11 Shared Market Characteristics Fragmented markets populated by large numbers of practitioners and small practices Many practices lack back-office support Customers value relationship with skilled sales representative Strong demand for relatively low-cost goods Supplies do not account for high percentage of customer s operating expenses Market leaders with strong competitive positions Markets growing faster than overall economy Sustainable competitive advantages

12 Agenda Business Overview Strategies and Operations Financials

13 Full-Service, Single-Source Model Well-suited to needs of Patterson s markets Enables businesses to meet complete needs of customers Makes value-add proposition tangible for customers Patterson Dental Most highly developed value-added business model Meets complete needs of dental offices and labs Patterson Veterinary Strong progress at adopting value-added platform Growing range of equipment, local technical support, equipment financing, value-added services, client communication tools Patterson Medical Advancing value-added model; strong upside potential Branch structure, field sales force, technical service, equipment financing

14 Value-Added Model Highly trained sales force; business confidant Most extensive inventory; very high service levels Specialized customer service personnel No questions asked return policy Financing Over 1,500 service technicians Office design and project management Electronic order entry Loyalty programs E-claims and statement processing Continuing professional education Patient education programs

15 Distribution Strategy Consolidating Distribution Centers as a Corporate Function

16 Field Sales Force Forges close customer relationships Offers visibility into current and future customer needs Enables unsurpassed customer service Patterson Dental Industry s largest sales force with over 1,500 field representatives Specialized equipment and CEREC reps Patterson Veterinary Over 240 field sales reps in 18 branches Specialized equine, equipment and technology representatives Patterson Medical Industry s largest sales force with over 280 representatives Augmented by industry s most extensive catalog operation

17 Decentralized Management Customer decisions made at branch level Encourages entrepreneurism P&L responsibility fosters local accountability Patterson Dental 75 U.S. branches from coast to coast; 9 in Canada Patterson Veterinary 18 branch offices Growing geographic footprint via internal expansion and acquisitions Patterson Medical 18 branch offices Branch initiative started in 2006 through acquisitions and internal start-ups

18 Strong Focus on Technology Improves practice productivity Enables practitioners to generate additional revenue New procedures/improves clinical outcomes Patterson Dental CEREC dental restorative system; Schick digital x-ray; cone beam; Eaglesoft practice management software; CAESY patient education software; Dolphin imaging software Patterson Veterinary epethealth; EquiHealth; Vetsource; Diagnostic Imaging Atlas ; IntraVet practice management software; Patterson Medical PTOS practice management software

19 Patterson Technology Center Provides Patterson a strong competitive advantage Software development and customer support for all three businesses Manufacturer support, including warranty services Exclusive distributor of Sirona products (Schick, CEREC, Galileos) Also, Air Techniques and Planmeca Supports Patterson branded computer hardware Supports customer and field order entry systems for all business units

20 Agenda Business Overview Strategies and Operations Financials

21 (in millions) $3,094 $3,237 $369 $426 5-Year Sales $3,416 $3,536 $505 $513 $551 $644 $675 $735 $3,637 $502 $755 $2,174 $2,167 $2,236 $2,288 $2, Patterson Medical Patterson Veterinary Patterson Dental

22 5-Year Earnings Per Share $1.69 $1.78 $1.89 $1.92 $

23 Operating Expense Ratio 22.5% 22.7% 22.5% 22.8% 23.0%

24 Operating Margins 11.2% 11.0% 11.0% 10.1% 9.7%

25 Free Cash Flow (in millions) $236 $226 $292 $279 $

26 Book Value Per Share $11.68 $12.89 $12.51 $13.17 $

27 Cash Returned to Shareholders (in millions) $417 $223 $147 $- $

28 4th Quarter, Fiscal 2013 Consolidated sales: +3.1% to $936.3 million EPS: $0.62 vs. $0.58 in Q4 FY12 Patterson Dental Sales increased 6.4% from the year-earlier period Sales of equipment rose nearly 14% from the year-earlier level, driven by strong performances in technology categories, particularly digital imaging Strong demand for next-generation CEREC system with new Omnicam acquisition unit Patterson Veterinary Internally-generated sales +1.9% Adjusted to exclude the impact from the change in a nutritional distribution agreement in the spring of 2012 (approx. 4% impact) Attained goal of being a national technical service provider Patterson Medical Sales decreased 5%, primarily reflecting weak international sales

29 Fiscal 2014 Outlook Company provided full-year earnings guidance to be in the range of $2.10 to $2.20 Assumptions Stable economic conditions in North America Modest operating margin expansion, excluding information technology investments EPS impact of $0.06 from information technology investments No impact from share repurchases that may occur during the year Strong cash flow generation similar to fiscal 2013 levels Businesses have strong competitive positions in markets and aggressively pursuing opportunities Conservative, flexible balance sheet Capital deployment Investing in business remains #1 priority Dividends Opportunistic share repurchasing

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