BioLife Solutions (NASDAQ: BLFS) Investor Presentation September 2021

BioLife Solutions Investor Presentation : September 2021 1
NASDAQ : BLFS
Acquisition of:
September 2021
Investor Presentation

Safe Harbor Statement
NASDAQ:
BLFS
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Cautions Regarding Forward Looking Statements
Except for historical information contained herein, this presentation contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking
statements include, but are not limited to, statements concerning the expected financial performance of the company following the completion of its 2019, 2020 and 2021 acquisitions and giving effect to
the COVID-19 pandemic, the company's ability to implement its business strategy and anticipated business and operations, in particular following its 2021 acquisitions, the expected synergies between the
company and the various businesses that it has acquired in 2019, 2020 and 2021, the company's ability to realize all or any of the anticipated benefits associated with its 2019, 2020 and 2021 acquisitions,
the potential utility of and market for the company's products and services and the company's ability to cross sell its products and services, including its recently acquired products, guidance for financial
results for 2021, including regarding revenue of our recent acquisitions, and potential revenue growth and changes in gross margin, adjusted gross margin and adjusted EBITDA gross margin, and potential
market expansion, including with consideration to our recent acquisitions and giving effect to the COVID-19 pandemic, the company's anticipated future growth strategy, including the acquisition of
synergistic cell and gene therapy manufacturing tools and services or technologies, regulatory approvals and/or commercial manufacturing of our customers' products, and potential customer revenue. All
statements other than statements of historical fact are statements that could be deemed forward-looking statements. These statements are based on management's current expectations and beliefs and
are subject to a number of risks, uncertainties and assumptions that could cause actual results to differ materially from those described in the forward-looking statements, including among other things,
unexpected costs, charges or expenses resulting from the company’s 2019, 2020 and 2021 acquisitions, market adoption of the company's products (including the company's recently acquired products),
the ability of the company’s 2019, 2020 and 2021 acquisitions to be accretive on the company's financial results, the ability of the company to continue to implement its business strategy, uncertainty
regarding third-party market projections, market volatility, competition, litigation, the impact of the COVID-19 pandemic, and those other factors described in our risk factors set forth in our filings with
the Securities and Exchange Commission from time to time, including our Annual Report on Form 10-K, Quarterly Reports on Form 10-Q and Current Reports on Form 8-K. We undertake no obligation to
update the forward-looking statements contained herein or to reflect events or circumstances occurring after the date hereof, other than as may be required by applicable law.
Non-GAAP Measures of Financial Performance
To supplement our financial statements, which are presented on the basis of U.S. generally accepted accounting principles (GAAP), the following non-GAAP measures of financial performance are included
in this presentation: adjusted gross profit and gross margin, adjusted operating expenses, adjusted operating income/(loss), adjusted net income/(loss), adjusted earnings per diluted share (EPS), earnings
before interest, taxes, depreciation and amortization (EBITDA), and adjusted EBITDA. A reconciliation of GAAP to adjusted non-GAAP financial measures is included as an appendix to this presentation.
When analyzing the Company's operating results, investors should not consider non-GAAP measures as substitutes for the comparable financial measures prepared in accordance with GAAP.

Mission Statement
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We are a leading provider of bioproduction tools and services to the cell and
gene therapy and broader biopharma markets. We strive to facilitate basic and
applied research and the commercialization of new therapies by supplying
solutions that maintain the health and function of biologic source material and
finished products during manufacturing, storage and distribution.

Guiding Values
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Our team members are our most important asset.
• We only employ motivated, inspired people who thrive in a performance-based environment.
• Honesty, integrity, and authentic communication are expected and required for continued employment.
• We challenge every team member to continuously exceed customer expectations.
• Our quality environment can and will be continuously improved.
• We strive to maintain financial performance consistent with maximizing shareholder value.

3-4 Year Financial Objectives
REVENUE
ADJ. GM%
>30%
>50%
>$250,000,000
ADJ. EBITDA %
Achievement of these objectives is not expected to be dependent on additional acquisitions
nor a significant number of approvals of customers’ cell and gene therapy candidates.

Quality Policy
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We will:
• Provide products and services that consistently meet our quality standards to satisfy customer
expectations of quality, safety, reliability, performance and on-time delivery.
• Focus on getting things done “right the first time.”
• Encourage a culture of quality improvement and collaborative interactions.
• Maintain an effective Quality Management System.
• Invest to establish subject matter expertise in all team members.
• Strive to establish partnerships with our suppliers.
We are committed to manufacturing products and providing services and customer support in accordance with
our Quality Standards, applicable regulations and good manufacturing practices that support customer needs. Every
team member in the organization is responsible for ensuring product quality and exceptional customer support
championing continuous improvement during the performance of their duties.

Focus & Strategy
• Protect and grow core media franchise
• Integrate acquired operations
• Continue selective M&A of additional cell &
gene therapy bioproduction tools & services
• Leverage reputation and relationships to
cross sell entire product portfolio
• Make strategic investments in early-stage
tools developers
1H 2021 HIGHLIGHTS
118%
Y/Y REV GROWTH
>500
CUSTOMER APPLICATIONS
>2,300
INDIRECT CUSTOMERS
>250
NEW CUSTOMERS

BioLife Solutions Product Portfolio
Cell Processing
Cloud-Connected
Shipping
High-Capacity
Storage Freezers
Automated
Thawing
Ultra Low Temperature
(ULT) Freezers Biostorage

Integration Strategy
• Immediate integration of all functional departments into respective corporate teams
• Create new freezer sales team including Custom Biogenic Systems (CBS) and Stirling products
• Train remaining sellers on Stirling offering as a lead generating force multiplier
• Unify marketing messaging and rationalize conference schedule
• Extend best practices of BioLife Quality Culture to Stirling operations and adopt select Stirling
ways of working that enhance operations in the rest of the enterprise
• Select and implement organization-wide eQMS and ERP system

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Synergies
2021 Total Revenue Guidance
Segment Revenue ($millions)
Low
Revenue
High
Revenue
Low
Growth
High
Growth
Cell Processing
(biopreservation media & Sexton)
$40 $42 29% 36%
Freezers & Thaw
(CBS, Stirling* & ThawSTAR)
$55 $59 306% 350%
Storage & Cold Chain
(SciSafe & evo® Cold Chain)
$13 $16 262% 345%
Total $108 $117 125% 143%
* Estimated Stirling revenue contribution of $40mm to $42mm based on a transaction close date of May 3, 2021

Regenerative Medicine Market

Regenerative Medicine Funding
www.alliancerm.org

Regenerative Medicine Clinical Trials
1,220
Ongoing regenerative
medicine and advanced
therapy trials worldwide

1,320 Industry Sponsored Clinical Trials by Modality
www.alliancerm.org

Biopreservation Challenges
Survival – How Long Viability – How Many Function – How Well
Ex Vivo Time
Viability
Ex Vivo Time
Survival
Ex Vivo Time
Function
Causes of Reduced Biologic Potency
CAR T and other cell therapies MUST be kept alive during manufacturing, storage
and shipping to maintain biologic potency
Poor Preservation Temp Excursions Mechanical Shock

Customer Reimbursement Environment
Use of
suboptimal
bioproduction
tools
Cell or gene
therapy
exposed to
detrimental
environmental
conditions in
preservation,
storage,
transport,
thawing
Less
viable/healthy
dose
administered
Lack of desired
therapeutic
response by
the patient
Risk of non-
reimbursement
by payer
RISK CASCADE
• “Pay for response/cure” paradigm
• Paid out over time only if initial and durable response to treatment is confirmed
• Increased economic risk for our customers

Large, Growing Addressable Markets
Cold Chain
Packaging: ~5B
by 2024
Lab Freezers:
~4B by 2025
Biopreservation
Media &
Equipment: ~5B
by 2025
a) BioPharma Cold Chain Packaging - Sourcing and Procurement Intelligence Report: Nov 2020
b) Global Laboratory Freezers Market Size, Share, Trends, COVID-19 Impact & Growth Analysis Report – Industry Forecast (2021 to 2026)
c) Biopreservation Market by Type - Global Forecast to 2025

Acquisitive Growth Strategy

Refresher - M&A Strategy
Acquire synergistic products and technologies to:
• Accelerate growth
• Leverage scientific and customer service reputation within the cell and gene therapy
(CGT) space
• Cross-market an expanded product and services portfolio to a large base of very sticky
biopreservation media customers
• Capitalize on a fragmented base of bioproduction tools and service suppliers by
consolidating several to become a broad-based trusted partner
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Refresher - M&A Filter Criteria
Novel and potentially disruptive
technologies and services used
in the production and distribution
of cell and gene therapies:
Potential to be accretive to EPS
within 12 – 24 months
Strong management
willing to stay on
Similar corporate culture
Stellar reputation within the CGT space
§ Reagents
§ Containers
§ Instruments and appliances
§ Software
§ Storage and other services

Acquisition of:
Products and Services Portfolio

Customer Workflow Integration
Biostorage
Services
Biopreservation
Media
LN2 Freezers
Biopreservation
Media
LN2 Freezers
Thawing
Source
Collection
Manufacturing
Dose
Preparation
Monitored
Shipping
Monitored
Shipping
Ultra Low Temperature
Freezers
Cell Processing

CryoStor® Freeze Media
Improved cell viability and functional
recovery compared to commercial
and home-brew alternatives in
numerous cell types
Formulated to mitigate molecular cell
stress during freeze/thaw process in cord
blood stem cells, T cells, others
Serum-free, protein-free, animal-origin free;
high quality ingredients; US FDA Master File

HypoThermosol® Storage Media
Optimized for hypothermic (2-8°C) storage
and shipping of cells and tissues
Enables multiple days of cell and tissue
storage for transport of source material
and manufactured cell products
throughout the world
Serum-free, protein-free, animal-origin free;
high quality ingredients; US FDA Master File

Media Integration in Clinical Trials
27
47
57
69
79
30
2016 2017 2018 2019 2020 1H 2021
We processed >300 US FDA Master File Cross Reference Requests since 2016; the total
number of customer clinical applications using our media is much larger as many customers
submit several INDs under the same reference to our FDA filing

Marquee Customers

Force Multiplier Customers
CLINICAL CENTERS
CMO & CDMO

Media Embedded in Approved Therapies

ThawSTAR® Automated, Water-Free Thawing
• Acquired in April 2019
• Consistent, accurate thawing of
frozen cell and gene therapies to
de-risk the possibility of
delivering a non-viable dose
• Upgrade from suboptimal water
baths with inherent risk of
overheating and contamination
For vials
For bags

Cryogenic Freezers Platform
High-Capacity
Storage Freezers
Standard and
Custom Racks
Cloud-based
Remote Monitoring

evo® Cold Chain Management Platform
-196° C -80° C
>100
Clinical Trials

Stirling Ultra Low Temperature (ULT) Freezers
• Upright, benchtop, undercounter and
portable ultra low temperature freezer
models with optimized rack and tray
configurations for vaccines and other
biologics
• Made in the USA
• Highly cost efficient
• Extremely tight temperature regulation
• Critical tool in Operation Warp Speed for
point of care storage of COVID-19 vaccines

Sexton Cell Processing Tools

SciSafe® Biologic Storage Services

Leadership Team
Mike Rice – Chief Executive Officer
BS Bus Admin; 14 years as BLFS CEO; chief visionary of BLFS
market opportunities, branding, marketing strategies; 18 years
medical device sales, sales management, marketing; patient
monitoring, defibrillators, implantable CRM, hearing devices,
LAN/WAN; 5 issued and 13 pending patents
Aby J. Mathew, PhD – EVP, Chief Scientific Officer
BS Microbiology, PhD, Cell & Molecular Biology; co-developer of platform
HypoThermosol® and CryoStor ® media; in demand industry thought leader in
biopreservation of cells and tissues for clinical applications; catalyst responsible
for driving regen med market to adopt BLFS clinical grade biopreservation
media; 6 issued and 6 pending patents; numerous journal articles
Roderick de Greef – Chief Financial Officer
BA Economics, MBA; 30 years CFO experience for 5 public companies;
Serves/served on 5 US public company boards; Raised >$200mm from
US, EU and AP private and institutional investors; Structured, negotiated
and closed $400mm of public company mergers and acquisition
transactions in the US and Europe
Karen Foster – Chief Quality Officer
BS Biological Sciences, MS Zoology, MBA; 25-year career in
quality and manufacturing operations including 13 years VP
Manufacturing Operations and Site Leader at ViaCord, 2 positions
leading 80 member teams; certified Six Sigma Green Belt
Marcus Schulz – Chief Revenue Officer
20+ years experience in strategic business development and
executive sales leadership roles with companies including
Siemens Healthcare, Johnson & Johnson, Abbott Laboratories
and most recently, GE Healthcare, with primary management
of a $1 billion annual revenue strategic account.
Todd Berard – Chief Marketing Officer
BS, Biochemistry, MBA; 16 years marketing
including leadership of marcom, corporate
branding, product marketing, and positioning for
Verathon, Physio Control (MDT), tech startups
Dusty Tenney III– President & Chief Operating Officer
BS Mechanical Engineering from the University of Maryland; Master of Science
in Mechanical Engineering from the University of Vermont. Pre-merger, he was
President and CEO of Stirling, and prior to that, was President of Brooks Life
Sciences for 5 years, growing revenues from $60MM to $335MM. 13 years in
various senior management roles at Perkin Elmer. Six Sigma Blackbelt and a
graduate of GE’s Edison Engineering Program
Sarah Aebersold, J.D. – Global VP, Human Resources
15 years in human resources leadership positions at
several healthcare, medical device and technology
companies.

Strategic Investments
$2M
Series A
Preferred Stock
High yield viral
vector
production
tools and
processes
$1M
Series E
Preferred Stock
Additive to
freeze media
$2M
DEV FEES
• Seed investments in novel, potentially
disruptive technologies
• Strive for exclusive future first right to
acquire the businesses
• Alternatively, we can support development
where applicable in exchange for exclusive
rights in selected markets and geographies

Supplemental Financial Information

Q2 2021 Adjusted Financial Results
(non-GAAP)
Three Months Ended
($’s in millions, except
percentage and basis point
figures)
June 30, 2021 June 30, 2020 Change % Change
Revenue 31.2 9.9 21.3 215%
Gross Margin % (adj.) 42.9% 56.6% (1,368) bps n/a
OPEX (adj.) 13.3 6.1 7.2 118%
Operating Profit
(adj.)
0.1 (0.5) 0.6 n/a
Net Income (adj.) (0.1) (0.5) 0.4 89%
EBITDA (adj.) 3.7 1.2 2.5 209%

Q2 YTD 2021 Adjusted Financial Results
(non-GAAP)
Six Months Ended
($’s in millions, except
percentage and basis point
figures)
June 30, 2021 June 30, 2020 Change % Change
Revenue 48.1 22.1 26.0 118%
Gross Margin % (adj.) 47.3% 60.7% (1,343) bps n/a
OPEX (adj.) 22.2 12.5 9.7 77%
Operating Profit
(adj.)
0.6 1.0 (0.4) (40%)
Net Income (adj.) 0.4 1.0 (0.6) (58%)
EBITDA (adj.) 6.5 4.1 2.4 56%

Cap Table
43.2mm Fully Diluted Shares
(,000) Shares Options/RSA/RSU Total
Directors & Officers 512 1,204 1,716
Affiliates 7,440 - 7,440
Other 32,834 1,203 34,037
Total 40,786 2,407 43,193

GAAP to Non-GAAP Financial Information

GAAP to Non-GAAP Operating Expenses
Three Months Ended Six Months Ended
June 30, 2021 June 30, 2020 June 30, 2021 June 30, 2020
GAAP OPERATING EXPENSES $ 35,759 $ 9,876 $ 53,586 $ 21,668
ADJUSTMENTS TO OPERATING EXPENSES:
Cost of product, rental, and service revenue (18,554) (4,499) (26,104) (9,067)
Acquisition and integration costs (272) (13) (1,271) (238)
Intangible assets amortization (1,882) (706) (2,815) (1,394)
Loss on disposal of assets (15) - (18) (4)
Change in fair value of contingent consideration (1,718) 1,463 (1,226) 1,526
ADJUSTED OPERATING EXPENSES $ 13,318 $ 6,121 $ 22,152 $ 12,491

GAAP to Non-GAAP Operating Income
GAAP OPERATING INCOME $ (4,555) $ 44 $ (5,535) $ 414
ADJUSTMENTS TO OPERATING INCOME:
Inventory step-up charges 733 190 765 386
Acquisition and integration costs 272 13 1,271 238
Intangible assets amortization 1,882 706 2,815 1,394
Loss on disposal of assets 15 - 18 4
Change in fair value of contingent consideration 1,718 (1,463) 1,226 (1,526)
ADJUSTED OPERATING INCOME/(LOSS) $ 65 $ (510) $ 560 $ 910

GAAP to Non-GAAP Net Income
GAAP NET INCOME/(LOSS) $ 7,876 $ (16,380) $ 6,758 $ 5,928
ADJUSTMENTS TO NET INCOME/(LOSS):
Change in fair value of warrant liability - 16,442 121 (5,472)
Income tax benefit (12,552) - (12,552) -
ADJUSTED NET INCOME/(LOSS) $ (56) $ (492) $ 422 $ 952

GAAP to Non-GAAP Adjusted EBITDA
GAAP NET INCOME/(LOSS) $ 7,876 $ (16,380) $ 6,758 $ 5,928
ADJUSTMENTS:
Interest expense/(income), net 121 (18) 137 (46)
Income tax benefit (12,552) - (12,552) -
Depreciation 1,118 561 1,895 973
EBITDA $ (1,555) $ (15,131) $ (947) $ 8,249
OTHER ADJUSTMENTS:
Share-based compensation (non-cash) 2,520 1,145 4,024 2,258
Change in fair value of warrant liability - 16,442 121 (5,472)
ADJUSTED EBITDA $ 3,703 $ 1,196 $ 6,478 $ 4,137

Investment Thesis
• Best in class portfolio of bioproduction tools designed to improve quality and de-risk
cell and gene therapy manufacturing and delivery – pure play picks and shovels
• Hundreds of sticky media customers across the regenerative medicine landscape to
leverage for cross-selling revenue synergies
• Successful M&A execution to scale faster and solve more customer problems
• Growing rapidly organically and via M&A; 2021 revenue guided at $108 - $117 million;
expected to reach $250 million with 30% adjusted EBITDA within 3-4 years
Acquired brands

For additional questions or comments, please contact:
Mike Rice | Chief Executive Officer
mrice@BioLifeSolutions.com | (425) 686-6003
Roderick de Greef | Chief Financial Officer
rdegreef@BioLifeSolutions.com | (425) 686-6002
www.biolifesolutions.com
LHA Investor Relations
www.lhai.com
(310) 691-7100
BioLife Solutions, Inc.
3303 Monte Villa Parkway, Suite 310
Bothell, WA 98021
NASDAQ: BLFS
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BioLife Solutions (NASDAQ: BLFS) Investor Presentation September 2021

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