Hbio slide deck sidotti 5.6.9.2014 revised 5.2.2014

Solutions to Advance Life Science
1
INTRODUCTION AND DISCUSSION MATERIALS
MAY 2014

2
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
3
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.
4

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 became
Harvard 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.

6
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 enhancing HBIO’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.
7

GLOBAL GROWTH STRATEGY
8
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 of
tools 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
9

SEGMENTS, BRANDS, PRODUCTS & COMMERCIAL CHANNELS
10

Solutions to Advance Life Science 11
COMPETITIVE STRENGTHS

12
PRODUCT SEGMENTS / BRANDS
SEGMENTS
Fluidics
Lab 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 pumps
Electrophoresis
equipment / supplies
Spectro-
photometers
Electrophysiology
(patch clamp)
Animal handling,
delivering, and monitoring
Peristaltic pumps
Pipette tips
Amino acid analyzers Electroporation
Organ perfusion
Accessories
Cell culture
disposables
Plate readers Electrofusion Microdialysis
OEM modules
General laboratory
supplies
Cell analysis products Behavior studies
Regenerative medicine

13
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 2014
Equipment $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
RevenueinBillions
Instruments and Equipment Market Revenue Forecast by Product
Segment, Global, 2011 - 2015
14

FINANCIAL INFORMATION
15

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%)
16
 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 operational
improvements and efficiencies
17

Stock Price $4.17
Market Cap $133m
Shares Outstanding 31.9m
Insider Ownership
(Approximation)
6%
Institutional Ownership
(Approximation)
52%
STOCK INFORMATION
Exchange: NASDAQ
Symbol: 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 business
opportunities.
 The Newly formed Executive Leadership Team brings extensive experience to the
organization.
 Focus on growth opportunities / Global expansion within China and other emerging
markets.
 Re-alignment of operational efficiencies.
 Multiple distribution channels provides for increased sales opportunities, distinguishes
HBIO from other industry peers.
19

EXECUTIVE LEADERSHIP TEAM
20

EXECUTIVE LEADERSHIP
21
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
22
Ronald D. Aplin
VP Global Operations & Quality
Ron Aplin VP of Global Operations and Quality, joined HBIO in March, 2014, and is formerly from Becton
Dickinson (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 Corning
Life Sciences (NYSE: GLW), and his previous roles as Global Sales Effectiveness Manager; and Global Business
Operations 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’s
Executive 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 Eli
Lilly- Marketing Manager, Global Life Sciences Market.Yong Sun
VP Global Strategic Marketing,
Business Development; and R&D

23
APPENDIX

24
EXHIBIT 6
HARVARD 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 31
YEAR END
DECEMBER 31
THREE 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.

25
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.

Hbio slide deck sidotti 5.6.9.2014 revised 5.2.2014

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