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Safe Harbor Statement
Caution Concerning Forward-Looking Statements. This presentation includes forward-looking statements
within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking
statements may be identified by the use of words such as "anticipate," "believe," "expect," "will,"
"may," "estimate," "plan," "outlook," and "project" and other similar expressions that predict or
indicate future events or trends or that are not statements of historical matters. These statements
also include statements regarding our projected 2013 financial performance including sales, earnings
per share, free cash flow, operating margin, specified costs, net interest expense, effective tax
rate, profit improvement program savings, annual cost increases, and the expected impact of foreign
exchange rates; the pursuit of our initiatives to optimize returns for shareholders, including
efforts to improve our operating margins, improve free cash flow, invest in growth businesses, and
return value to shareholders; goodwill and asset impairments, including future large model
write-downs; the future demand for drug discovery and development products and services, and in
particular, endotoxin and microbial detection and non-regulated discovery; our expectations
regarding stock repurchases and debt repayment; the development and performance of our services and
products, including the In Vitro Multi-Cartridge System; market and industry conditions including
the outsourcing of these services and spending trends by our customers; the impact of our
acquisitions, including Accugenix and Vital River; and Charles River's future performance as
otherwise delineated in our forward-looking guidance, and particularly our expectations with respect
to sales, future market share and foreign exchange impact. Forward-looking statements are based on
Charles River's current expectations and beliefs, and involve a number of risks and uncertainties
that are difficult to predict and that could cause actual results to differ materially from those
stated or implied by the forward-looking statements. Those risks and uncertainties include, but are
not limited to: the ability to successfully integrate businesses we acquire; the ability to execute
our cost-savings actions and the steps to optimize returns to shareholders on an effective and
timely basis (including divestitures and site closures); the timing and magnitude of our share
repurchases; negative trends in research and development spending, negative trends in the level of
outsourced services, or other cost reduction actions by our customers; the ability to convert
backlog to sales; special interest groups; contaminations; industry trends; new displacement
technologies; USDA and FDA regulations; changes in law; continued availability of products and
supplies; loss of key personnel; interest rate and foreign currency exchange rate fluctuations;
changes in tax regulation and laws; changes in generally accepted accounting principles; and any
changes in business, political, or economic conditions due to the threat of future terrorist
activity in the U.S. and other parts of the world, and related U.S. military action overseas. A
further description of these risks, uncertainties, and other matters can be found in the Risk
Factors detailed in Charles River's Annual Report on Form 10-K as filed on February 27, 2012, as
well as other filings we make with the Securities and Exchange Commission. Because forward-looking
statements involve risks and uncertainties, actual results and events may differ materially from
results and events currently expected by Charles River, and Charles River assumes no obligation and
expressly disclaims any duty to update information contained in this news release except as required
by law.
Regulation G
This presentation includes discussion of non-GAAP financial measures. We believe that the inclusion
of these non-GAAP financial measures provides useful information to allow investors to gain a
meaningful understanding of our core operating results and future prospects, without the effect of
one-time charges, consistent with the manner in which management measures and forecasts the
Company's performance. The non-GAAP financial measures included in this presentation are not meant
to be considered superior to or a substitute for results of operations prepared in accordance with
GAAP. The company intends to continue to assess the potential value of reporting non-GAAP results
consistent with applicable rules and regulations. In accordance with Regulation G, you can find the
comparable GAAP measures and reconciliations to those GAAP measures on our website at ir.criver.com.
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