UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 11-K

 (Mark One)    

ANNUAL REPORT PURSUANT TO SECTION 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the fiscal year ended December 31, 2022

or

TRANSITION REPORT PURSUANT TO SECTION 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the transition period from __________ to __________

Commission File No: 001-35797

A. Full title of the plan and the address of the plan, if different from that of the issuer named below:

ZOETIS SAVINGS PLAN

B. Name of issuer of the securities held pursuant to the plan and the address of its principal executive office:

Zoetis Inc.

10 Sylvan Way

Parsippany, New Jersey 07054

REQUIRED INFORMATION:

Items 1 through 3: Not required; see Item 4 below.

Item 4. Financial Statements and Exhibits.

a)	Report of Independent Registered Public Accounting Firm
	Statements of Net Assets Available for Benefits as of December 31, 2022 and 2021
	Statements of Changes in Net Assets Available for Benefits for the Years Ended December 31, 2022 and 2021
	Notes to Financial Statements
	Supplemental Schedule
	Schedule H, Line 4i – Schedule of Assets (Held at End of Year) as of December 31, 2022
b)	Exhibit 23.1 Consent of Independent Registered Public Accounting Firm

ZOETIS SAVINGS PLAN

Index

	Page
Report of Independent Registered Public Accounting Firm	1
Financial Statements:
Statements of Net Assets Available for Benefits as of December 31, 2022 and 2021	2
Statements of Changes in Net Assets Available for Benefits for the Years Ended December 31, 2022 and 2021	3
Notes to Financial Statements	4
Supplemental Schedule:
Schedule H, Line 4i – Schedule of Assets (Held at End of Year) as of December 31, 2022	9
Signature	10
Exhibits:
Exhibit 23.1 Consent of Independent Registered Public Accounting Firm	11

Report of Independent Registered Public Accounting Firm

To the Plan Participants and Plan Administrator

Zoetis Savings Plan:

Opinion on the Financial Statements

We have audited the accompanying statements of net assets available for benefits of Zoetis Savings Plan (the Plan) as of December 31, 2022 and 2021, the related statements of changes in net assets available for benefits for the years ended December 31, 2022 and 2021, and the related notes (collectively, the financial statements). In our opinion, the financial statements present fairly, in all material respects, the net assets available for benefits of the Plan as of December 31, 2022 and 2021, and the changes in net assets available for benefits for the years ended December 31, 2022 and 2021, in conformity with U.S. generally accepted accounting principles.

Basis for Opinion

These financial statements are the responsibility of the Plan’s management. Our responsibility is to express an opinion on these financial statements based on our audits. We are a public accounting firm registered with the Public Company Accounting Oversight Board (United States) (PCAOB) and are required to be independent with respect to the Plan in accordance with the U.S. federal securities laws and the applicable rules and regulations of the Securities and Exchange Commission and the PCAOB.

We conducted our audits in accordance with the standards of the PCAOB. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether thefinancial statements are free of material misstatement, whether due to error or fraud. Our audits included performing procedures to assess the risks of material misstatement of the financial statements, whether due to error or fraud, and performing procedures that respond to those risks. Such procedures included examining, on a test basis, evidence regarding the amounts and disclosures in the financial statements. Our audits also included evaluating the accounting principles used and significant estimates made by management, as well as evaluating the overall presentation of the financial statements. We believe that our audits provide a reasonable basis for our opinion.

Accompanying Supplemental Information

The Schedule H, line 4i – Schedule of Assets (Held at End of Year) as of December 31, 2022 has been subjected to audit procedures performed in conjunction with the audit of the Plan’s financial statements. The supplemental information is the responsibility of the Plan’s management. Our audit procedures included determining whether the supplemental information reconciles to thefinancial statements or the underlying accounting and other records, as applicable, and performing procedures to test the completeness and accuracy of the information presented in the supplemental information. In forming our opinion on the supplemental information, we evaluated whether the supplemental information, including its form and content, is presented in conformity with the Department of Labor’s Rules and Regulations for Reporting and Disclosure under the Employee Retirement Income Security Act of 1974. In our opinion, the supplemental information is fairly stated, in all material respects, in relation to the financial statements as a whole.

/s/ KPMG LLP

We have served as the Plan’s auditor since 2013.

Short Hills, New Jersey

June 26, 2023

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ZOETIS SAVINGS PLAN

Statements of Net Assets Available for Benefits

	December 31,
(thousands of dollars)	2022			2021
Assets:
Investments at fair value		$	1,454,471		$	1,768,987
Receivables:
Notes receivable from participants		12,983			12,648
Employer contributions		28,136			43,789
Total receivables		41,119			56,437
Net assets available for benefits		$	1,495,590		$	1,825,424

See accompanying notes to financial statements.

2

ZOETIS SAVINGS PLAN

Statements of Changes in Net Assets Available for Benefits

	December 31,
(thousands of dollars)	2022			2021
Investment (loss)/income:
Net (depreciation)/appreciation in investments		$	(359,097)		$	214,713
Dividend income		19,240			55,550
Investment (loss)/income on participant-directed funds		(2,407)			2,437
Total investment (loss)/income		(342,264)			272,700
Interest income on notes receivable from participants		782			799
Less: Investment management fees		(445)			(419)
Net investment (loss)/income and interest income		(341,927)			273,080
Contributions:
Employer		56,139			66,562
Participant		63,765			54,277
Rollovers		10,476			8,586
Total contributions		130,380			129,425
Benefits and withdrawals paid to participants		(118,287)			(120,095)
Net (decrease)/increase before transfers from related plans		(329,834)			282,410
Transfers:
Asset transfer from Platinum Performance 401(k) Plan		—			1,440
Asset transfer from ZNLabs ADP Plan		—			767
Net (decrease)/increase after transfers from related plans		(329,834)			284,617
Net assets available for benefits:
Beginning of period		1,825,424			1,540,807
End of period		$	1,495,590		$	1,825,424

See accompanying notes to financial statements.

3

Zoetis Savings Plan

Notes to Financial Statements

December 31, 2022 and 2021

1.Plan Description

The Zoetis Savings Plan (the Plan) is a defined contribution retirement plan. Participation in the Plan is open to eligible employees of Zoetis Inc. (Zoetis, the Plan Sponsor or the Company) or an affiliate which has, with the consent of the Plan Sponsor, adopted the Plan (Participating Employers) and who are included within a group or class designated by the Plan Sponsor as set forth in the Plan document.

The Plan is subject to certain provisions of the Employee Retirement Income Security Act of 1974, as amended (ERISA) and the Internal Revenue Code of 1986, as amended (the Code). The Plan is designed to meet ERISA’s reporting and disclosure and fiduciary responsibility requirements, as well as the minimum standards for participation and vesting.

The following is a general description of certain provisions of the Plan. Participants should refer to the Plan document for more detailed and complete information.

Plan Mergers

Platinum Performance 401(k) Plan Merger

Effective August 14, 2019, the Company acquired Platinum Performance (Platinum), and as a result Platinum became an indirect wholly-owned subsidiary of the Company. On December 23, 2020, the Zoetis Board of Directors approved the merger of the Platinum Performance 401(k) Plan (Platinum Plan) into the Plan, effective January 4, 2021 (the Platinum Plan Merger Date), at which time employees of Platinum became eligible to participate in the Plan. Upon merger, all Platinum Performance Plan participants’ prior employer service was credited for eligibility and vesting requirements in the Plan.

The net assets of the Platinum Plan (approximately $1.4 million) were transferred to the Plan on January 7, 2021.

ZNLabs ADP Plan Merger

Effective November 22, 2019, the Company acquired ZNLabs LLC (ZNLabs), and as a result ZNLabs became an indirect wholly-owned subsidiary of the Company. ZNLabs is an adopting employer in the ADP TotalSource Retirement Savings Plan (ZNLabs ADP Plan) pursuant to that certain Adoption Agreement between ZNLabs and ADP TotalSource Group, Inc., the plan sponsor of the ZNLabs ADP Plan, dated August 14, 2019 (ZNLabs Adoption Agreement). On December 23, 2020, the Zoetis Board of Directors approved the merger of the ZNLabs ADP Plan's net assets into the Plan, effective January 1, 2021 (the ZNLabs Merger Date), at which time employees of ZNLabs became eligible to participate in the Plan. Upon merger all ZNLabs ADP Plan participants’ prior employer service was credited for eligibility and vesting requirements in the Plan and ZNLabs terminated the ZNLabs Adoption Agreement and withdrew from, and its eligible employees ceased to participate in, the ZNLabs ADP Plan.

The net assets of the ZNLabs ADP Plan (approximately $0.8 million) were transferred to the Plan on April 6, 2021.

Plan Administration

The Plan is administered by the Zoetis Savings Plan Committee, which was appointed by the Chief Human Resources Officer of Zoetis pursuant to a delegation of authority by the Zoetis Board of Directors. The investment fiduciary function is also governed by the Zoetis Savings Plan Committee. Bank of America is the Plan’s recordkeeper and trustee and is a party-in-interest to the Plan.

Administrative Costs

In general, the Plan or the Plan Sponsor and Plan participants both share in the costs and expenses of administering the Plan. All other administrative fees and expenses are paid for by the Plan or the Plan Sponsor.

Eligibility

Generally, all U.S.-based full-time employees of the Company, except (1) certain employees who are covered by a collective bargaining agreement and have not negotiated to participate in the Plan, (2) certain employees who are employed by a unit not designated for participation in the Plan, or (3) certain employees who are otherwise eligible for another Company-sponsored savings plan, are eligible to enroll in the Plan on their date of hire.

Newly eligible participants who do not affirmatively enroll in the Plan within 30 days of hire or transfer into eligible employment are automatically enrolled at a 5% pre-tax contribution rate. Employees may elect to opt-out of the Plan at any time.

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Zoetis Savings Plan

Notes to Financial Statements

December 31, 2022 and 2021

Unless otherwise directed by the plan participants, contributions are invested in the Plan’s default investment fund option, which is generally the Vanguard Target Retirement Fund, based on the participant’s retirement eligibility date.

Contributions

Participants may elect to make contributions of up to 30% of eligible compensation on a pre-tax basis and up to 30% of eligible compensation on a Roth 401(k) or after-tax basis. Total contributions may not be greater than 60% of eligible compensation and are subject to certain restrictions under the Code. For all participants, contributions of up to 5% of eligible compensation are matched 100% by the Company. Participant contributions in excess of 5% are not matched.

The Plan Sponsor may, in its sole discretion, also make a profit-sharing contribution of up to 8% of each participant’s eligible compensation, as defined by the Plan. Participants are eligible to receive a profit-sharing contribution if they are employed on the last day of the Plan year or die, become disabled (while an employee) or terminate employment after attaining age 55 during the Plan year. In March 2023, the Company made a profit-sharing contribution for plan year 2022 in the amount of approximately $21.4 million. In March 2022, the Company made a profit-sharing contribution for plan year 2021 in the amount of approximately $37.9 million.

Participant Accounts and Vesting

Each participant's account is credited with the participant's contributions, the Company's matching and profit-sharing contributions, and the participant's respective share of Plan earnings and is charged with the participant's withdrawals and distributions, and the participant's respective share of Plan losses. Participants are immediately vested in the full value of their account (i.e., participant's and Company's matching contributions) other than the profit-sharing contribution.

All participants will vest in the Company’s profit-sharing contribution as follows:                

Years of Service	Percentage Vested*
Under 1 year	0%
1 year	20%
2 years	40%
3 years	60%
4 years	80%
5 years	100%

*Special Vesting Rules for Legacy Abaxis Employees: Profit-sharing contributions of legacy Abaxis employees hired prior to June 24, 2019, the Abaxis Plan Merger Date, will be subject to a 4-year vesting schedule while all other participants will be subject to the Zoetis 5-year vesting schedule as described above. Prior service for legacy Abaxis employees will count toward the vesting of profit-sharing account balances.

Effective February 7, 2020, the Company acquired Ethos Diagnostic Science (Ethos Dx). Beginning on January 1, 2021, all legacy U.S. Ethos Dx participants’ prior employer service was credited for eligibility and vesting requirements in the Plan.

Forfeited balances of terminated participants’ nonvested accounts are used to reduce future employer contributions. Forfeitures used to reduce employer contributions were $1.1 million and $0.8 million for the years ended December 31, 2022 and 2021, respectively. Forfeited nonvested accounts available to reduce future employer contributions totaled $0.5 million and $0.6 million at December 31, 2022 and 2021, respectively.

Rollovers into Plan

Participants may elect to roll over one or more account balances from qualified plans.

Investment Options

Participants can elect to invest amounts credited to their account in any of the investment funds offered by the Plan and transfer amounts between these funds at any time during the year.

Each participant in the Plan elects to have his or her contributions invested in any one or combination of investment funds in the Plan.

Contributions made by participants may be invested into a self-directed brokerage account.

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Zoetis Savings Plan

Notes to Financial Statements

December 31, 2022 and 2021

Notes Receivable from Participants

Plan participants are permitted to borrow against their account balances. The minimum amount a participant may borrow is $1,000 and the maximum amount is the lesser of 50% of the account balance reduced by any current outstanding loan balance, or $50,000, reduced by the highest outstanding loan balance in the preceding 12 months.

Under the terms of the Plan, loans must be repaid pursuant to a fixed payment schedule within five years, unless the funds are used to purchase a primary residence or other payment terms that were established in a plan subsequently merged into the Plan. Primary residence loans must be repaid within ten years. However, certain primary residence loans existed prior to June 20, 2013, and may have longer repayment terms as they were processed under the rules of the prior plan. The interest rate on all loans is based on the prime rate plus 2% at date of loan issuance. At December 31, 2022, interest rates on outstanding loans ranged from 3.25% to 9.50% with maturities ranging from 2023 to 2035. At December 31, 2021, interest rates on outstanding loans ranged from 3.25% to 9.50% with maturities ranging from 2022 to 2035.

Interest paid by the participant is credited to the participant's account. Interest income from notes receivable from participants is recorded by the trustee as earned in the participant funds in the same proportion as the original loan issuance. Repayments may not necessarily be made to the same fund from which the amounts were borrowed. Repayments are credited to the applicable funds based on the participant’s investment elections at the time of repayment.

In the event of termination, participants will have 90 days to repay the loan before the loan is considered taxable to the participant. An additional 10% penalty tax may also apply.

Benefit Payments

Upon separation from service, retirement or disability, a participant whose account balance is greater than $1,000 is entitled to receive the full value of the account balance or defer payment to a later date, subject to receiving minimum required distributions starting at age 70½ (or 72 for those who attained age 72 after December 31, 2019). A participant whose account balance is $1,000 or less will receive his or her account balance upon termination. In the event of a participant's death, a spouse beneficiary generally may elect a lump sum payment or defer payment until a later date, but not beyond the year in which the participant would have reached age 70½ (or 72 for those who attained age 72 after December 31, 2019). A non-spouse beneficiary generally may defer payment until December 31 of the year following the date of the participant's death.

In-Service Withdrawals

Participants in the Plan may make in-service withdrawals after reaching the age of 59½ or hardship withdrawals from their account balances subject to the provisions of the Plan.

Plan Termination

The Plan Sponsor expects to continue the Plan indefinitely, but reserves the right to amend, suspend or discontinue it in whole or in part at any time by action of the Plan Sponsor's Board of Directors or its authorized designee. In the event of termination of the Plan, each participant shall be entitled to the full value of his or her account balance as though he or she had retired as of the date of such termination. No part of the invested assets established pursuant to the Plan will at any time revert to the Company, except as otherwise permitted under ERISA.

2.    Summary of Significant Accounting Policies

Basis of Accounting

The accompanying financial statements have been prepared on the accrual basis of accounting in accordance with U.S. generally accepted accounting principles (U.S. GAAP).

Use of Estimates

The preparation of financial statements in conformity with U.S. GAAP requires Plan management to make estimates and assumptions that affect the reported amounts of assets and liabilities at the date of the financial statements, the reported amounts of increases and decreases to net assets during the reporting period, and disclosure of contingent assets and liabilities. Actual results could differ from those estimates.

6

Zoetis Savings Plan

Notes to Financial Statements

December 31, 2022 and 2021

Investment Valuation

The Plan’s investments are stated at fair value. Units of the Zoetis Stock Fund are valued based on the combined quoted market prices of the underlying shares of Zoetis common stock and a cash equivalent component. Shares of registered investment companies and common/collective trust funds are valued at quoted or published market prices which represent the net asset value of shares held by the Plan at year-end. Self-directed brokerage accounts consist primarily of money market funds, common stocks and mutual funds, which are valued at quoted or published market prices, and are considered one general type of investment. See Note 4. Fair Value Measurements for additional information regarding the fair value of the Plan’s investments. There have been no changes in the valuation methodologies used at December 31, 2022 and 2021.

Notes Receivable from Participants

Notes receivable from participants are measured at their unpaid principal balance, plus any accrued interest. Delinquent notes receivable are classified as distributions based on the terms of the Plan document.

Risks and Uncertainties

Investment securities, including Zoetis common stock, are exposed to various risks, such as interest rate, market and credit risks. Due to the level of risk associated with certain investment securities, it is at least reasonably possible that changes in their fair values could occur in the near term and that such changes could materially affect participants' account balances and the amounts reported in the statements of net assets available for benefits.

Investment Transactions

Purchases and sales of securities are reflected on a trade-date basis. Dividend income is recorded on the ex-dividend date. Interest income is recorded as earned.

Net (Depreciation)/Appreciation in Investments 

The Plan presents, in the statements of changes in net assets available for benefits, the net (depreciation)/appreciation in the value of its investments which consists of the realized gains and losses and the unrealized gains and losses on those investments. Realized gains and losses on sales of investments represent the difference between the net proceeds and the cost of the investments (average cost if less than the entire investment is sold). Unrealized gains and losses on investments represent the change in the difference between the cost of the investments and their fair value at the end of the year.

Benefit Payments 

Benefits are recorded when paid.

3.    Tax Status

The Plan uses a prototype non-standardized Plan document, sponsored by the Trustee (prototype sponsor), who received a favorable determination letter from the Internal Revenue Service (IRS), dated June 20, 2020, which states that the prototype Plan document satisfies the applicable provisions of the Internal Revenue Code. The prototype Plan has not been materially modified so that the Company believes they may rely on the prototype sponsor’s determination letter for the prototype Plan. The determination letter provided to the Company by the prototype sponsor indicates that the form of the Plan is acceptable under section 401 of the Internal Revenue Code for use by employers for the benefit of their employees. The Plan has been amended since receiving the determination letter. The Plan administrator believes that the Plan is currently designed and being operated in compliance with the applicable requirements of the Code.

U.S. GAAP requires the Plan administrator to evaluate tax positions taken by the Plan and recognize a tax liability (or asset) if the Plan has taken an uncertain position that more likely than not would not be sustained upon examination by the IRS. The Plan administrator has analyzed the tax positions taken by the Plan, and has concluded that as of December 31, 2022 and 2021, there are no uncertain positions taken or expected to be taken that would require recognition of a liability (or asset) or disclosure in the financial statements. The Plan is subject to routine audits by taxing jurisdictions; however, there are currently no audits for any tax periods in progress.

4.    Fair Value Measurements

The framework for measuring fair value provides a fair value hierarchy that prioritizes the inputs to valuation techniques used to measure fair value. Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. There are three levels of inputs to fair value

7

Zoetis Savings Plan

Notes to Financial Statements

December 31, 2022 and 2021

measurements: Level 1, meaning the use of quoted or published prices for identical instruments in active markets; Level 2, meaning the use of quoted or published prices for similar instruments in active markets or quoted prices for identical or similar instruments in markets that are not active or are directly or indirectly observable; and Level 3, meaning the use of unobservable inputs. See Note 2. Summary of Significant Accounting Policies: Investment Valuation for information regarding the methods used to determine the fair value of the Plan’s investments.

Investments measured at fair value are summarized below:

		Investments at Fair Value as of December 31, 2022
(thousands of dollars)		Level 1			Level 2		Level 3		Total
Zoetis Stock Fund			$	165,872	$	—	$	—		$	165,872
Mutual funds			316,932		—		—			316,932
Common/collective trust funds			952,944		—		—			952,944
Money market funds			150		—		—			150
Self-directed brokerage funds			18,573		—		—			18,573
	Total investments at fair value		$	1,454,471	$	—	$	—		$	1,454,471

		Investments at Fair Value as of December 31, 2021
(thousands of dollars)		Level 1			Level 2		Level 3		Total
Zoetis Stock Fund			$	270,703	$	—	$	—		$	270,703
Mutual funds			1,033,754			—		—		1,033,754
Common/collective trust funds			444,481			—		—		444,481
Money market funds			244			—		—		244
Self-directed brokerage funds			19,805			—		—		19,805
	Total investments at fair value		$1,768,987		$	—	$	—		$	1,768,987

5.    Related-Party Transactions

Certain Plan investments held by the Plan at December 31, 2022 and 2021, were units of the T. Rowe Price Stable Value Common Trust Fund and were managed by Bank of America. Bank of America serves as the trustee of the Plan, and therefore, transactions involving these investments are considered party-in-interest transactions.

The Plan invests in shares of the Company. The Company is the Plan sponsor, and therefore, these transactions qualify as party-in-interest transactions. At December 31, 2022 and 2021, the Plan held Zoetis common stock valued at $165.9 million and $270.7 million, respectively. For the year ended December 31, 2022, the Plan purchased Zoetis common stock with a fair value of approximately $30.3 million and sold Zoetis common stock with a fair value of approximately $25.9 million. For the year ended December 31, 2021, the Plan purchased Zoetis common stock with a fair value of approximately $29.2 million and sold Zoetis common stock with a fair value of approximately $34.2 million.

At December 31, 2022 and 2021, the Plan had notes receivable from participants of approximately $13.0 million and $12.6 million, respectively. These transactions are considered parties-in-interest transactions.

6.    Subsequent Events

In connection with the preparation of the financial statements, the Plan administrator has evaluated subsequent events after December 31, 2022, through June 26, 2023, the date of the financial statement issuance, and concluded that no additional disclosure or recordable transactions were required.

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ZOETIS SAVINGS PLAN

SCHEDULE H, LINE 4i - SCHEDULE OF ASSETS (HELD AT END OF YEAR)

DECEMBER 31, 2022

(thousands of dollars)
	Identity of Issuer, Borrower, Lessor or Similar Party	Description of investment	Rate of Interest	Maturity Date	Number of Shares or Units	Cost		Current Value
	BIF Money Fund	Money Market			5,400	$	150	$	150
	American Europacific Growth R6	Mutual Fund			287,215	14,082		14,082
	Blackrock Mid Cap Grth Eqty I	Mutual Fund			1,319,373	44,859		39,621
	Dodge & Cox International St	Mutual Fund			1,182,612	48,228		50,982
	MFS Mass Investors Growth Stock R4	Mutual Fund			3,059,483	90,146		102,064
	Parnassus Mid Cap Fund Inv	Mutual Fund			833,569	29,108		28,241
	JP Morgan LGCP GRO R6	Mutual Fund			16,348	826		767
	JP Morgan Core Bond Fund CL R6	Mutual Fund			3,671,358	44,435		37,117
	Vanguard Explorer Fund	Mutual Fund			507,116	49,041		44,058
	Self-Directed Brokerage Acct				—	**		18,573
	Vanguard Target Retirement 2020 TR I	Common/Collective Trust			612,293	40,014		38,177
	Vanguard Target Retirement 2025 TR I	Common/Collective Trust			713,710	47,933		45,656
	Vanguard Target Retirement 2030 TR I	Common/Collective Trust			1,379,849	95,108		90,435
	Vanguard Target Retirement 2035 TR I	Common/Collective Trust			1,029,340	73,910		70,253
	Vanguard Target Retirement 2040 TR I	Common/Collective Trust			1,293,501	97,574		92,731
	Vanguard Target Retirement 2045 TR I	Common/Collective Trust			739,826	57,037		54,222
	Vanguard Target Retirement 2050 TR I	Common/Collective Trust			609,896	47,310		45,059
	Vanguard Target Retirement 2055 TR I	Common/Collective Trust			348,074	32,846		31,362
	Vanguard Target Retirement 2060 TR I	Common/Collective Trust			324,105	16,010		15,346
	Vanguard Target Retirement 2065 TR I	Common/Collective Trust			46,137	1,364		1,344
	Vanguard Target Retirement Income TR I	Common/Collective Trust			308,666	18,561		17,773
	Blackrock US Debt Fund Class M	Common/Collective Trust			1,397,675	16,285		15,670
	Blackrock Russell 1000 GR CL T	Common/Collective Trust			296,507	16,275		16,610
	Blackrock Russel 1000 VL CL T	Common/Collective Trust			314,853	13,291		14,763
	Blackrock MSCI EAFE Equity Fund M	Common/Collective Trust			858,717	14,028		14,733
	Blackrock Mid Capitalization M	Common/Collective Trust			591,850	14,755		17,150
	Blackrock Tips Class K	Common/Collective Trust			1,310,773	19,677		20,412
	Blackrock Equity Index Fund Class J	Common/Collective Trust			8,792,902	167,626		158,070
	Blackrock Russell 2000 Fund M	Common/Collective Trust			1,160,695	24,625		28,960
	Columbia TR Div Incm Inst 300	Common/Collective Trust			5,525,665	53,823		55,146
*	T. Rowe Price Stable Value Class Q	Common/Collective Trust			109,072,153	109,072		109,072
*	Zoetis Common Stock Fund	Common stock fund			3,554,143	82,458		165,872
	Total assets held for investment purposes							1,454,471
*	Notes Receivable from Participants	Interest rates: 3.25% to 9.50%; maturity dates: 2023-2035			—	—		12,983
	TOTAL							$	1,467,454

*	Party-in-interest
**	Costs not required for participant-directed investments

See accompanying report of independent registered public accounting firm.

9

SIGNATURE

The Plan. Pursuant to the requirements of the Securities Exchange Act of 1934, the trustees (or other persons who administer the employee benefit plan) have duly caused this Annual Report to be signed on its behalf by the undersigned, hereunto duly authorized.

	Zoetis Savings Plan
	(Name of Plan)
June 26, 2023	By:	/S/ TAMMY BAKOS
		Tammy Bakos
		Member, Zoetis Savings Plan Committee

10