He was certainly their master in the First Age, and Gandalf mentions werewolves among Sauron's servants in The Lord of the Rings ("Wargs and werewolves"), so perhaps he did have sufficient power for them - although given how little we see of the "Hounds of Sauron" evidently they were either not numerous or not as useful as they might have been.
I think dragons were probably beyond his power.
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"Since the evening of that day we have journeyed from the shadow of Tol Brandir."
"On foot?" cried Éomer.
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