Hbio slide deck sidotti 5.6.9.2014 revised 5.2.2014

Solutions to Advance Life Science

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INTRODUCTION AND DISCUSSION MATERIALS

MAY 2014

Solutions to Advance Life Science2

Table of Contents

I. Safe Harbor Statement

II. Introduction to Harvard Bioscience

III. Segments, Brands, Products and Commercial Channels

IV. Financial Data

V. Executive Leadership Team

VI. Appendix


SAFE HARBOR STATEMENT

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This presentation contains forward-looking statements within the meaning of the federal securities laws. You can identify these statements by our

use of such words as “will,” “guidance,” “objectives,” “optimistic,” “potential,” “future,” “expects,” “plans,” “estimates,” “continue,” “drive,”

“strategy,” “potential,” “potentially,” “growth,” “long-term,” “projects,” “projected,” “intends,” “believes,” “goals,” “sees,” “seek,” “develop”

“possible” “new,” “emerging,” “opportunity,” “pursue” and similar expressions that do not relate to historical matters. Forward-looking statements

in this presentation may include, but are not limited to, statements or inferences about the Company’s or management’s beliefs or expectations, the

Company’s anticipated future revenues and earnings, the strength of the Company’s market position and business model, the impact of acquisitions,

or potential acquisitions, the outlook for the life sciences industry, the Company’s business strategy, the positioning of the Company for growth, the

market demand and opportunity for the Company’s current products, or products it is developing or intends to develop, and the Company’s plans,

objectives and intentions that are not historical facts.

These statements involve known and unknown risks, uncertainties and other factors that may cause the Company’s actual results, performance or

achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking

statements. Factors that may cause the Company’s actual results to differ materially from those in the forward-looking statements include economic

and political conditions generally and those affecting pharmaceutical and biotechnology industries, research funding levels from endowments at our

university customers, our financial position, general economic outlook or other circumstances, the Company’s failure to identify potential acquisition

candidates, successfully negotiate favorable pricing and other terms with acquisition candidates to enable potential acquisitions to close, successfully

integrate acquired businesses or technologies, complete consolidations of business functions, expand our product offerings, introduce new products

or commercialize new technologies, unanticipated costs relating to acquisitions, unanticipated costs arising in connection with the Company’s

consolidation of business functions and any restructuring initiatives, decreased demand for the Company’s products due to changes in our

customers’ needs, our ability to obtain regulatory approvals, the seasonal nature of purchasing in Europe, economic, political and other risks

associated with international revenues and operations, including expansion into Asia and other emerging markets, additional costs of complying with

recent changes in regulatory rules applicable to public companies, our ability to manage our growth, our ability to retain key personnel, competition

from our competitors, technological changes resulting in our products becoming obsolete, future changes to the operations or the activities of our

subsidiaries due to manufacturing consolidations, our ability to meet the financial covenants contained in our credit facility, our ability to protect our

intellectual property and operate without infringing on others’ intellectual property, potential costs of any lawsuits to protect or enforce our

intellectual property, impact of any impairment of our goodwill or intangible assets, our ability to utilize deferred tax assets after the release of our

valuation allowances, plus factors described under the heading “Item 1A. Risk Factors” in the Company’s Annual Report on Form 10-K for the

fiscal year ended December 31, 2013 or described in the Company’s other public filings. The Company’s results may also be affected by factors of

which the Company is not currently aware. The Company may not update these forward-looking statements, even though its situation may change in

the future, unless it has obligations under the federal securities laws to update and disclose material developments related to previously disclosed

information.


INTRODUCTION TO HARVARD BIOSCIENCE, INC.

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HISTORY AND OVERVIEW

Harvard Bioscience, Inc. is a Global Developer, Manufacturer, and Marketer of a broad range of specialized products, primarily apparatus and scientific instruments, used to advance life science research.

Our Clients consist of Universities and Academic Laboratories; Biotechnology Companies; Pharmaceutical Research; and Government, NIH

Founded in 1901, by Dr. William Townsend Porter, at Harvard University Medical School under the name of Harvard Apparatus.

In 1996, keeping the Harvard Apparatus Brand, the company underwent a name change and becameHarvard Bioscience, Inc. (HBIO).

In 2000 HBIO became publicly traded on NASDAQ

Harvard Bioscience had a 2013 Annual revenue of $105m, with products sold in over 100 countries.

Corporate Headquarters are located in Holliston, MA.


GLOBAL FOOTPRINT

Distribution Ctr

Manufacturing

Sales Office

Corporate Office


RE-ALIGNMENT OF OPERATIONS

Organizational efficiencies were created which have better positioned HBIO for growth

Elimination of operational redundancies;

Global workforce reduction of approximately13%; and

A streamlined and highly functional organization was created enhancingHBIO’s platform for growth.

Re-allocation of resources to higher-growth areas with reinvestment in

China expansion;

Other emerging markets;

Build-up stronger channel capabilities;

Reinvigorate product development; and

Sales and marketing development initiatives.

Overall annual savings of approximately $2 million on a pre-tax basis, includes

$3 million, approximate, reduction in personnel related costs and expenditures;

$1 million to be reinvested.

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GLOBAL GROWTH STRATEGY

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Commercial Excellence /

Organic Growth

Reinvigorating Product

Development

Business Development / Acquisitions



RECENT CATALYSTS

SPIN-OFF

Harvard Apparatus Regenerative Technology (NASDAQ: HART)

Positioning HBIO as a pure-play global developer, manufacturer, and marketer of a broad range oftools to advance life science research

Building and Securing a highly effective, innovative and experienced Management Team

Focused on global growth strategies

Operations Realignment

Efficiencies, reallocation of resources

Driving a new Global Growth Strategy

Capitalizing on market growth and demand

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SEGMENTS, BRANDS, PRODUCTS & COMMERCIAL CHANNELS

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Solutions to Advance Life Science 11

COMPETITIVE STRENGTHS

http://www.denvillescientific.com/

http://www.denvillescientific.com/

http://www.biochrom.co.uk/

http://www.biochrom.co.uk/

http://www.biodrop.co.uk/index.php

http://www.biodrop.co.uk/index.php

http://www.kdscientific.com/index.asp

http://www.kdscientific.com/index.asp


PRODUCT SEGMENTS / BRANDS

SEGMENTS

FluidicsLab Equipment & Supplies Molecular Analysis Cell Analysis Animal Research

BRANDS

Harvard Pump Hoefer® Biochrom® Harvard Apparatus® Harvard Apparatus®

Harvard Apparatus® Denville® Biodrop® Warner® & Panlab®

BTX® Coulbourn®

Hugo Sachs®

CMA®

PRODUCTS

Syringe pumpsElectrophoresis equipment / supplies

Spectro-photometers

Electrophysiology (patch clamp)

Animal handling, delivering, and monitoring

Peristaltic pumpsPipette tips

Amino acid analyzers ElectroporationOrgan perfusion

Accessories

Cell culture disposables

Plate readers Electrofusion Microdialysis

OEM modules

General laboratory supplies

Cell analysis products Behavior studies

Regenerative medicine


COMMERCIAL CHANNELS

Direct Field Sales Organization Online Catalog Distributors OEM


GLOBAL MARKET SEGMENT

$0.0

$4.0

$8.0

$12.0

$16.0

2011 2012 2013 2014Equipment $3.4 $3.4 $3.4 $3.5

Instruments ($ < 20K) $1.7 $1.7 $1.8 $1.8

Instruments ($ > 20K) $8.2 $8.3 $8.4 $8.5

Rev

enue

in B

illio

ns

Instruments and Equipment Market Revenue Forecast by Product Segment, Global, 2011 - 2015

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FINANCIAL INFORMATION

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RESENT FINANCIAL PERFORMANCE

Q1 2014 Q4 2013 2013

REVENUES $25.9M (-0.7%) $27.9 million (-1.4%) 105.2 million (-5.4%)

TOTAL NON-GAAP EPS $0.05 (-22%) $0.05 (-44%) $0.22 (-35%)

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Backlog of $5.6m at March 31, 2014, up 44% over Q1 last year

Three consecutive quarters of growth in backlog


2014 FINANCIAL GUIDANCE

2014 Revenues estimated to remain approximately the same as 2013

Bridge year to return the Company to topline organic growth in 2015

Non-GAAP EPS of $0.26 per diluted share

Anticipated improvement of approximately 20% primarily because of operationalimprovements and efficiencies

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Stock Price $4.17

Market Cap $133m

Shares Outstanding 31.9m

Insider Ownership(Approximation)

6%

Institutional Ownership (Approximation)

52%

STOCK INFORMATION

Exchange: NASDAQSymbol: HBIO

NOTE: The numbers provided in this presentation are based on market close 5/2/2014


INVESTMENT HIGHLIGHTS

HBIO is a well established company with several growth catalysts and businessopportunities.

The Newly formed Executive Leadership Team brings extensive experience to theorganization.

Focus on growth opportunities / Global expansion within China and other emergingmarkets.

Re-alignment of operational efficiencies.

Multiple distribution channels provides for increased sales opportunities, distinguishesHBIO from other industry peers.

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EXECUTIVE LEADERSHIP TEAM

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EXECUTIVE LEADERSHIP

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Jeffrey A. Duchemin

President and CEO

Prior to joining HBIO, as President and CEO, Mr. Duchemin held the role of Global Business Director at Corning Life Sciences (NYSE: GLW) .

Preceding Corning, and for sixteen-years, he held progressive sales, marketing and executive leadership positions at Becton Dickinson (NYSE: BDX).

Robert E. Gagnon

Chief Financial Officer

Before joining the new Executive Leadership Team Mr. Gagnon was CFO at Clean Harbors, Inc.(NYSE: CLH). Prior to Clean Harbors, he held progressive leadership positions with Biogen Idec,Inc. (NASDAQ: BIIB)


EXECUTIVE LEADERSHIP

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Ronald D. Aplin

VP Global Operations & Quality

Ron Aplin VP of Global Operations and Quality, joined HBIO in March, 2014, and is formerly from BectonDickinson (NYSE: BDX) where he held the role of Director of Operations; Plant Manager for Teleflex.

Prior to Beckton Dickinson Ron worked for Corning Life Sciences (NYSE: GLW) as Operations/Plant Manager.

Yoav Sibony

VP Global Sales

Yoav Sibony, Vice President Global Sales, brings extensive sales and management experience from CorningLife Sciences (NYSE: GLW), and his previous roles as Global Sales Effectiveness Manager; and Global BusinessOperations and Strategy Development.

Prior to Corning, Yoav held ten-years of progressive positions with Becton Dickinson (NYSE: BDX).

Yong Sun, Formerly of Beaver-Visitec International, VP of Global Marketing and Americas Sales, joined HBIO’sExecutive Leadership as VP Global Strategic Marketing, Business Development; and R&D.

Yong Sun also held positions at Becton Dickinson, as Director of Global Marketing & U.S. Sales, as well as EliLilly- Marketing Manager, Global Life Sciences Market.Yong Sun

VP Global Strategic Marketing,

Business Development; and R&D


APPENDIX


EXHIBIT 6HARVARD BIOSCIENCE, INC.

Reconciliation of GAAP Diluted Earnings Per Common Share from Continuing Operations to Non-GAAP Adjusted Diluted Earnings Per Common Share from Continuing Operations

(unaudited)

THREE MONTHS ENDED

DECEMBER 31YEAR END

DECEMBER 31THREE MONTHS ENDED

MARCH 31

2013 2013 2013 2014

GAAP diluted earnings per common share from continuing operations $ (0.01) $ 0.02 $ 0.02 $ 0.03

ADJUSTMENTS:

Amortization of Intangible Assets 0.02 0.08

Acquisition Costs - - -

HART transaction costs 0.01 0.06 - 0.02

Severance and restructuring charges 0.07 0.07 0.01 -

Stock-based compensation expense 0.02 0.08 0.01 0.02

Income taxes (A) (0.06) (0.09) (0.01) (0.02)

Non-GAAP adjusted diluted earnings per common share from continuing operations $ 0.05 $ 0.22 $ 0.05 $ 0.07

(A) Income taxes includes the tax effect of adjusting for the reconciling items.


HARVARD BIOSCIENCE, INC.

Reconciliation of Guidance for 2014 GAAP Diluted Earnings per Common Share to Non-GAAP Adjusted Diluted Earnings per Common Share

(unaudited)

GAAP diluted earnings per common share from continuing operations (A) $ 0.14

ADJUSTMENTS:

Amortization of intangible assets 0.07

Severance and restructuring charges 0.01

Stock-based compensation expense 0.09

Income taxes (B) (0.5)

Non-GAAP adjusted diluted earnings per common share from continuing operations (A) $ 0.26

(A) This guidance excludes the impact of future acquisitions, acquisition costs or restructuring charges.(B) Income taxes includes the tax effect of adjusting for the reconciling items.

Health & Medicine

Hbio slide deck sidotti 5.6.9.2014 revised 5.2.2014