Charles River Laboratories International, Inc. · NYSE:CRL
Charles River Laboratories International — Investor Day (September 2026)
123 slides from Charles River Laboratories International's investor day presentation, Sep 24, 2026
Slide 1: 2026 Investor Day
2026 Investor Day September 24, 2026 Scan QR code for microsite & presentation
Slide 2: Welcome
Welcome Todd Spencer | Corporate Vice President, Investor Relations
Slide 3: Safe Harbor Statement
Safe Harbor Statement Caution Concerning Forward-Looking Statements. This presentation includes forward-looking statements within the meaning of the federal securities laws. Forward-looking statements may be identified by the use of words such as “anticipate,” “believe,” “expect,” “intend,” “will,”
Slide 4: Today's Agenda
Today’s Agenda 9:00 AM Welcome 10:35 AM Financial Overview: Todd Spencer | Corporate Vice President, Driving Long-Term Shareholder Value Investor Relations Glenn Coleman | EVP & Chief Financial Officer Executing Our Pathway to Purpose Strategy DSA Overview & Growth Strategy for Long-Term Growth Shan
Slide 5: Executing Our Pathway to Purpose Strategy for Long-Term Growth
Executing Our Pathway to Purpose Strategy for Long-Term Growth Birgit Girshick | Chief Executive Officer
Slide 6: Key Messages
Key Messages Building on our position as a scientifically-driven industry 1 leader with multiple long-term growth opportunities Advancing the future of drug development through differentiated 2 scientific capabilities and emerging technologies, including NAMs leadership and AI integration Continuing
Slide 7: Scientific Partner of Choice Supporting Clients from Early-Stage Research
Scientific Partner of Choice Supporting Clients from Early-Stage Research through Clinical Development Providing regulated testing solutions to enhance the speed and efficiency of our clients’ drug development programs 7 2026 INVEST O R DAY
Slide 8: CRL at a Glance
CRL at a Glance (NYSE: CRL) A global leader in regulated drug development solutions 7% Diverse Revenue Global Scale Base by Region2 1947 >18,0001 >1001 ~1,500 ~$13B 27% Founded Global employees Locations Investigational New Drug (IND) Market Cap $4.0B North America 2025 revenue Europe ~2,0001 ~20 pr
Slide 9: Comprehensive Scientific Platform across Drug Development Continuum
Comprehensive Scientific Platform across Drug Development Continuum Leadership in Early-Stage R&D Solutions Research Models and Discovery and Safety Manufacturing Services (RMS) Assessment (DSA) Solutions A global leader in the production of the Largest global partner for outsourced non- Full-servic
Slide 10: Strategic Journey: From Platform Expansion to Focused Growth
Strategic Journey | From Platform Expansion to Focused Growth Where We Are Today • Refocusing on core capabilities in regulated Where We Were 2000- testing following CDMO / Cell Solutions and European 2025 Discovery divestitures • A leader in research models and • Building a simpler, highly scientif
Slide 11: Building on a Strong Foundation to Enter Next Phase of Growth
Building on a Strong Foundation to Enter Next Phase of Growth Where We Are Going Future Strengthening Our Modernizing How Capturing Higher- Delivering Sustainable Competitive Foundation We Operate Growth Opportunities Shareholder Value • Reinforce scientific leadership • Execute Create the Future •
Slide 12: Well-Positioned to Benefit from Attractive Industry Tailwinds
Well-Positioned to Benefit from Attractive Industry Tailwinds Scientific advances and market evolution are reshaping client demand Advanced Therapeutic AI, Digital, and New Biopharma Demand Modalities & Scientific Approach Methodologies Recovery Complexity (NAMs) Trends • Improving biotech funding a
Slide 13: Positive End Market Trends Continue to Support Long-Term Growth
Positive End Market Trends Continue to Support Long-Term Growth Funding, R&D spending, and development activity are moving in a favorable direction Global Biotech Funding1 Global Pharma R&D Spend2 FDA IND Filings3 2020–2026 LTM 2020–2030E 2020–2026 LTM Funding is rebounding following Sustained R&D i
Slide 14: Significant Runway Across Large and Growing Addressable Markets
Significant Runway Across Large and Growing Addressable Markets Key Growth Drivers Continued outsourcing and funding across >$2B regulated drug development RMS Growth in biologics, cell & gene therapy, and RNA therapeutics >$20B Bioanalysis and complementary late-stage testing capabilities Addressab
Slide 15: Executing Our Pathway to Purpose Strategy
Executing Our Pathway to Purpose Strategy MODERNIZE STRENGTHEN GROW Company and World-Class Customized, Industry Scientific Portfolio Client-Centric Approach • Build a faster, more agile, and digitally • Invest in higher-growth, core capabilities • Elevate our go-to-market approach connected Charles
Slide 16: Create the Future to Build a Faster, More Agile Organization
Create the Future to Build a Faster, More Agile Organization MODERNIZE AI & Automation Simplification & Digitalization Enterprise Optimization • Automate scientific workflows • Standardize processes • Centralize support functions • Accelerate accurate • Digitize enterprise workflows • Optimize opera
Slide 17: Artificial Intelligence (AI) in Biopharma R&D
Artificial Intelligence (AI) in Biopharma R&D AI will lead to more regulated drug development opportunities MODERNIZE Basic Drug Non-Clinical Clinical Market Commercial Research Discovery Development Development Approval Manufacture Industry AI Focus Used in drug discovery process1 AI Efficiency Gai
Slide 18: Building a Higher-Growth Bioanalysis Platform
Building a Higher-Growth Bioanalysis Platform STRENGTHEN What is Bioanalysis Why Bioanalysis Matters Our Strategy • Laboratory testing of • Increasing demand across • Enhance our position in biological samples to analyze biologics, complex modalities, high-science bioanalysis and drug levels and bio
Slide 19: Continued Bioanalysis Expansion Improves Business Mix
Continued Bioanalysis Expansion Improves Business Mix STRENGTHEN TODAY: ~40% Outsourced Bioanalysis Bioanalysis Expansion Total CRL revenue from late-stage and Growth Opportunity1 Rationale commercial programs (i.e., post-IND) 6-8% 1 Adds capacity and capabilities for high-science, multi-modality CA
Slide 20: Disciplined Strategy to Evaluate Long-Term Opportunities in China
Disciplined Strategy to Evaluate Long-Term Opportunities in China STRENGTHEN Market Opportunity Approach Why It Matters • China remains an important • Evaluate return-focused strategy to • Support biopharma clients serving biopharmaceutical market pursue attractive, long-term DSA the Chinese domesti
Slide 21: Leading the Evolution of Drug Development through NAMs
Leading the Evolution of Drug Development through New Approach Methodologies (NAMs) STRENGTHEN Today’s Industry Where Charles River Will Lead Traditional Drug Development Integrated in vitro, in silico, and in vivo • Standardized in vivo approaches evidence generation • Highly comparable data across
Slide 22: Redesigning the Commercial Journey from Prospecting through Expansion
Redesigning the Commercial Journey from Prospecting through Expansion GROW 1 Discover 2 Evaluate 3 Scope & 4 Initiate & 5 Execute 6 Expand & & Qualify & Engage Propose Onboard & Deliver Integrate Manual Revenue-based Manual Manual Manual Limited cross-BU Today prospecting prioritization quoting onbo
Slide 23: Talent & Culture as a Strategic Enabler
Talent & Culture as a Strategic Enabler Building a Future-Ready Workforce Culture of Care Differentiates Charles River Modernize Company and Industry • Build differentiated talent strategies by employee segment • Evolve to an AI-enabled workforce Talent Science • Embed demand-linked workforce planni
Slide 24: Deep Leadership Team Driving Next Phase of Growth
Deep Leadership Team Driving Next Phase of Growth 1989 2026 2019 2005 2021 2000 Birgit Girshick Glenn Coleman Victoria Creamer Joseph LaPlume Mark Mintz Shannon Parisotto CEO EVP and CFO EVP and Chief People Officer EVP, Corp Dev and EVP, Chief Information Officer & EVP, Global Discovery Strategy Ma
Slide 25: Strong Governance Supported by an Experienced Board
Strong Governance Supported by an Experienced Board Functional Expertise 2020 2025 2025 2025 2000 2026 • Executive Leadership & Governance Nancy Andrews Steven Barg Abraham Ceesay Mark Enyedy James Foster Birgit Girshick • Biopharma & Life Sciences M.D., Ph.D. Global Co-Head of CEO, Rapport Former P
Slide 26: Introducing Our Long-Term Financial Targets
Introducing Our Long-Term Financial Targets 2026 2030 Guidance Target2 Upper end of Organic 5% – 7% Revenue Growth1 0.0% – 1.0% ’27–’30 CAGR YOY Growth Non-GAAP 21.0% – 21.3% ~24% in 2030 Operating Margin1 (Average ~75 bps of (120-150 bps YOY Improvement) annual improvement) Upper end of Low-double-
Slide 27: Why We Win: Leveraging Sustainable Competitive Advantages
Why We Win: Leveraging Sustainable Competitive Advantages Scientific leadership and Trusted, mission-critical regulatory expertise partner Integrated platform spanning Proven execution with quality, drug development lifecycle speed, and reliability Attractive combination of Global scale and propriet
Slide 28: Leading the Future of Integrated Drug Development
Leading the Future of Integrated Drug Development Namandjé Bumpus, Ph.D. | SVP, Chief Scientific & Innovation Officer
Slide 29: Key Messages
Key Messages Leading the future of drug development by integrating in vitro, 1 in silico, and in vivo science to provide greater insights Advancing differentiated scientific capabilities including NAMs 2 to deepen our reputation as the scientific partner of choice Positioning use of NAMs as a comple
Slide 30: Positioned to Benefit from Evolving Scientific Trends
Positioned to Benefit from Evolving Scientific Trends Industry Trends How We Are Executing • Increasing demand for more predictive • Alternative Methods Advancement drug development tools Project (AMAP) • Growing interest in new scientific • Scientific Advisory Board approaches including NAMs, AI, a
Slide 31: Combining Complementary Methods to Strengthen Evidence
Combining Complementary Methods to Strengthen Evidence Complementary What Integrated Scientific Scientific Approaches IN VIVO IN VITRO Evidence Enables Animal Laboratory Models Testing • Biology is complex and in vivo • Improve translation between studies remain essential from a IN SILICO laboratory
Slide 32: CRL's Comprehensive In Vitro and In Silico Capabilities Span Drug Development
CRL’s Comprehensive In Vitro and In Silico Capabilities Span Drug Development Breadth of Capabilities and Opportunity Established Emerging Future Exploratory Applications In Use Today at CRL Applications Available at CRL Today; Applications Longer-Term Opportunities 220+ Expanding Adoption Distinct
Slide 33: Integrated Testing Platforms Across Priority Biological Areas
Integrated Testing Platforms Across Priority Biological Areas Development & Our Approach to Scientific Reproductive Carcinogenicity Cardiotoxicity Skin Safety Evidence Generation: Toxicology (DART) Market Need 1 Define biological question • Growing interest in • Large unmet need • Limited human- • I
Slide 34: Embedding New Tools Across In Vivo DART Studies
Embedding New Tools Across In Vivo DART Studies Charles River is investing in tools like Continued development 3D organoids to enable assessment of a panoply of tools, of risks to placental development. including invertebrate Placentation models and stem cell- How We’re Executing based assays will F
Slide 35: Turning Proprietary Data and Analytics into Better Study Decisions
Turning Proprietary Data and Analytics into Better Study Decisions Applications Today Our Proprietary Assets Virtual control groups Extensive Deep toxicology Strong Expertise Predictive analytics historical and drug regulatory across AI-enabled workflows datasets development understanding discipline
Slide 36: Virtual Control Groups Improve Study Design While Maintaining Scientific Rigor
Virtual Control Groups Improve Study Design While Maintaining Scientific Rigor How VCGs Work How They Are Built Traditional Study • Uses historical control data • Leveraging decades of curated Treatment Control Study toxicology data, scientific expertise, Group Group Results • Matches studies using
Slide 37: Why We Win: Leading the Future of Scientific Evidence Integration
Why We Win: Leading the Future of Scientific Evidence Integration Scientific Leadership & Regulatory Expertise Broad Scientific Portfolio • Trusted partner helping shape practical regulatory pathways • Integrated scientific platform spanning in vivo, in vitro, and in silico approaches • Established
Slide 38: Modernizing to Drive Scalable Growth
Modernizing to Drive Scalable Growth Mark Mintz | EVP, Chief Information Officer & Global Shared Services
Slide 39: Key Messages
Key Messages Modernizing the operating model to improve scalability, 1 agility, and client experience Delivering simpler, faster, and more connected experiences to 2 deepen client relationships and become the preferred partner Leveraging AI and digitization to accelerate operational efficiencies 3 a
Slide 40: Building on a Proven Track Record of Execution
Building on a Proven Track Record of Execution Next Chapter: Create the Future Modernize the enterprise • Increase integration and standardization • Simplify operations and reduce complexity Create a scalable operating model • Improve productivity and operating efficiency • Build the digital foundat
Slide 41: Create the Future: Key Areas of Focus
Create the Future : Key Areas of Focus AI, Digitization, & Automation Expected Composition of Incremental >$300M in Create the Future Savings Accelerate productivity through AI-driven digitized and automated processes Savings by Savings Business / Function by Type 10% 14% Workflow Simplification 32%
Slide 42: Create the Future by Transforming Workflows and Systems
Create the Future by Transforming Workflows and Systems AI-enabled & Automated Processes • Efficiencies through AI-enabled processes AI & Digital Transformation in Action • Reduce scientific white space and development timelines by leveraging AI and automation • Simplify and enable commercial suppor
Slide 43: Expanding Apollo Across Full Client Journey
Expanding Apollo Across Full Client Journey TODAY TOMORROW Scientific Decision Support Connected Digital Access for Entire Client Journey • e-Commerce for model purchasing, with access to inventory, order configuration, Productivity AI: automation, order history, and confirmation reporting, workflow
Slide 44: Digitizing the End-to-End DSA Study Workflow
CASE STUDY Digitizing the End-to-End DSA Study Workflow Background Simplified Digital Study Journey • Paper-based processes require repeated data entry and verification Digital Sponsor Portal & • Multiple handoffs limit visibility Communications Synchronized Systems & Solution Automated Study Setup
Slide 45: Key Takeaways
Key Takeaways 1 2 3 4 Modernizing Creating Leveraging AI Executing Create the operating simpler, faster, and digitization the Future to model more connected to improve drive productivity client experiences execution and and margin operational efficiency expansion 45 2026 INVEST O R DAY
Slide 46: Q&A Session
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Slide 47: Break
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Slide 48: Financial Overview: Driving Long-Term Shareholder Value
Financial Overview: Driving Long-Term Shareholder Value Glenn Coleman | EVP & CFO
Slide 49: Key Messages
Key Messages Accelerating growth and profitability by executing on our 1 Pathway to Purpose strategy Investing in high-return opportunities including bioanalysis, 2 geographic expansion, and differentiated scientific capabilities Expanding margins by focusing on productivity, automation, modernizati
Slide 50: Building on a Strong Financial Foundation to Accelerate Long-Term Growth
Building on a Strong Financial Foundation to Accelerate Long-Term Growth Key priorities as newly appointed CFO Strengthening Driving New Deploying Capital for Financial Discipline Cost Savings Long-Term Value Creation • Maintaining a solid financial • Driving the next phase of • Prioritizing high-re
Slide 51: Proven and Resilient Financial Performance
Proven and Resilient Financial Performance Key Drivers of Revenue Non-GAAP Operating Income1 Historical Performance ($ in millions) ($ in millions) $794 $4,015 12% Averaged ~7% organic 11% CAGR CAGR growth1 over the last decade $1,363 $265 Disciplined cost management driving profitable growth 2015 2
Slide 52: Multiple Drivers Support Sustainable Revenue Growth
Multiple Drivers Support Sustainable Revenue Growth Market Recovery Commercial Excellence • Improving biopharma funding environment • Continued dynamic and disciplined pricing strategy • Increased client demand across drug development lifecycle • Increase share of wallet through scientific leadershi
Slide 53: Four Structural Actions Improve Earnings Power through Create the Future
Four Structural Actions Improve Earnings Power through Create the Future Enterprise AI, Digitization, Network & Commercial & Productivity & Automation Operating Model Portfolio Actions • Standardize • Automate manual • Optimize global • Improve business processes across workflows footprint mix towar
Slide 54: Strong Balance Sheet Provides Financial Flexibility
Strong Balance Sheet Provides Financial Flexibility 2.0x – 3.0x Net Leverage Ratio Target Summary of Balance Sheet Maturity Schedule2 As of 6/27/2026 ($ in millions) Total Current Assets $1.53B • Current net leverage ratio 2.5x2 Total Current Liabilities $1.13B • Comfortable temporarily exceeding 3.
Slide 55: Strong Free Cash Flow Generation and Disciplined Capital Allocation
Strong Free Cash Flow Generation and Disciplined Capital Allocation Drives Long-Term Value Creation Free Cash Flow (Non-GAAP)1 ($ in millions) Go Forward Priorities M&A and Prioritize acquisitions that expand bioanalysis, $502 $518 Strategic strengthen higher-growth, core capabilities, and $330 $365
Slide 56: Clear and Strategic M&A Roadmap Supports Long-Term Growth
Clear and Strategic M&A Roadmap Supports Long-Term Growth Strategic Criteria Financial Filters Strengthen position in attractive, core growth ROIC exceeds WACC before year 5 areas (current target: 10%+ ROIC) Add differentiated and/or regulated testing capabilities Neutral to accretive to non-GAAP EP
Slide 57: Recent Acquisitions Strengthen Portfolio to Support Long-Term Growth
Recent Acquisitions Strengthen Portfolio to Support Long-Term Growth K.F. (Cambodia) Ltd. / Noveprim Group PathoQuest January 2026 / Acquisition Date April 2026 November 2023 Purchase Price ~$510M / $392M1 ~$70M Strategic Criteria Strengthen position in attractive, core growth areas Add differentiat
Slide 58: 2026 Guidance
2026 Guidance GAAP1 Non-GAAP1 DSA revenue Low-single-digit decline Low-single-digit organic growth Manufacturing revenue Low- to mid-single-digit decline Low- to mid-single-digit organic growth RMS revenue Mid-single-digit decline Low- to mid-single-digit organic decline Revenue growth / (decrease)
Slide 59: Introducing Our Long-Term Financial Targets
Introducing Our Long-Term Financial Targets 2026 2030 Path to Achieving Our Targets Guidance Target2 • Improving end-market demand and commercial execution Organic Upper end of 5% – 7% • Drive profitable growth through sustained Revenue Growth1 0.0% – 1.0% ’27–’30 CAGR productivity and margin expans
Slide 60: Segment Financial Framework Supports Our Long-Term Targets
Segment Financial Framework Supports Our Long-Term Targets 2030 2030 Segment Highlights Organic Revenue Non-GAAP Operating Growth Target 1 2 Margin Target 1 2 DSA 5% – 7% • Opportunities to enhance growth profile through DSA >27% in 2030 further expansion in bioanalysis and in vitro ’27–’30 CAGR cap
Slide 61: Path to Long-Term Organic Revenue Growth (non-GAAP)
Path to Long-Term Organic Revenue Growth (non-GAAP) 1 2 DSA Manufacturing RMS Expected Revenue Growth Drivers ~60 bps ~0 bps 5%-7% ~60 bps ~100 bps • Continued improvement in biopharma demand ~80 bps environment ~200 bps Upper End of • Expansion of 0%-1% bioanalysis and higher- growth platforms • Di
Slide 62: Path to Operating Margin Expansion (non-GAAP)
Path to Operating Margin Expansion (non-GAAP) 1 2 ~650 bps >50 bps ~(900) bps Expected Operating Margin Drivers ~1,100 bps ~(600) bps • Operating leverage from improving ~24% revenue growth 21.0%-21.3% • Continued productivity improvements through Create the Future • Reinvestment in headcount and st
Slide 63: Key Takeaways
Key Takeaways 1 2 3 4 Accelerating Investing in core, Executing Driving disciplined growth and high-return Create the Future capital allocation profitability opportunities to generate and value incremental savings creation and efficiencies 63 2026 INVEST O R DAY
Slide 64: DSA Overview and Growth Strategy
DSA Overview and Growth Strategy Shannon Parisotto | EVP, Global DSA
Slide 65: Key Messages
Key Messages Building on our breadth, depth, and scientific expertise to 1 deliver sustained leadership and competitive advantages 2 Accelerating drug development timelines through complex-modality capabilities and faster decision making Leveraging global scale and scientific execution to 3 provide
Slide 66: Leading Safety Assessment Provider with Global Reach
Leading Safety Assessment Provider with Global Reach Global leader in outsourced safety assessment DSA Capabilities with comprehensive GLP and non-GLP capabilities • Drug Metabolism & Pharmacokinetics (DMPK) #1 in outsourced early-stage R&D • Safety Pharmacology • General & Specialty Toxicology ~33%
Slide 67: DSA Revenue Breakdown
DSA Revenue Breakdown Business Mix1 Client Segment1 Geographic Region1 11% 3% 28% 40% $2.4B 52% 2025 revenue 60% 34% 72% Pre-IND (Preclinical) Biotech Global Biopharma North America Post-IND (Clinical) Other2 Academic / Gov’t Europe 1) Based on 2025 DSA revenue as reported. Includes $144M of Europea
Slide 68: DSA Long-Term Financial Targets
DSA Long-Term Financial Targets Organic Revenue Growth1 Non-GAAP Operating Margin1 5% – 7% >27% ‘27–’30 CAGR through 2030 Key Assumptions Supporting Targets Biopharma Capacity Bioanalysis Supply Chain AI and Recovery Utilization Expansion Oversight Automation Improving biotech Improving capacity Exp
Slide 69: Well-Positioned to Benefit from Evolving Client Requirements
Well-Positioned to Benefit from Evolving Client Requirements Complex Accelerated Technological Strategic Discovery & Modalities Development Innovation Outsourcing Safety Assessment $2.4B 2025 Revenue • Growth in biologics, • Faster development • AI-assisted workflows • Larger preferred and C>, and
Slide 70: Executing Our Pathway to Purpose Strategy
Executing Our Pathway to Purpose Strategy MODERNIZE STRENGTHEN GROW Company and World-Class Customized, Industry Scientific Portfolio Client-Centric Approach • Leverage AI, automation, and digital • Drive leadership across regulated safety • Deepen client relationships across technologies to improve
Slide 71: Modernizing DSA to Enhance Speed, Insights, and Productivity
Modernizing DSA to Enhance Speed, Insights, and Productivity MODERNIZE AI-Assisted Digitization Operational Scientific Workflows Transformation Optimization • Toxicology review enables faster decision • Apollo provides real-time access to • Enhancing global network making study data • Improving site
Slide 72: Uses of AI in DSA
Uses of AI in DSA MODERNIZE Combining scientific depth, Virtual Control AI-Assisted AI-Assisted integrated execution, and Groups (VCGs) Scientific Reporting Digital Pathology digital tools • Use of AI/ML curated • Automates report • Quality control, digital historical control data preparation and re
Slide 73: Focused Investments Expand Participation in Higher-Value Markets
Focused Investments Expand Participation in Higher-Value Markets STRENGTHEN Bioanalysis Emerging Scientific Strengthening Strategic Expansion Approaches Portfolio M&A • Extend into clinical and • Invest in advanced cell • Continue to build upon core • Expand bioanalysis and post-IND programs models
Slide 74: Internal NHP Sourcing Improves Control and Economics
Internal NHP Sourcing Improves Control and Economics STRENGTHEN Greater control, scale, and reliability of supply NHP Sourcing Today (%) • NHP acquisitions in Cambodia (2026) and Mauritius (2023) increased internal supply capacity, improved model reliability, and strengthened operational control of
Slide 75: Scaling Bioanalysis to Accelerate Growth
Scaling Bioanalysis to Accelerate Growth STRENGTHEN Growth Opportunity CRL Positioning Outsourced Bioanalysis Market Sector1 CRL 2025 ~$300M In 2030 (est.) By Modality By Development Stage bioanalysis revenue ~$450M organic ~$8-9B ~$8-9B ~5% 2021-25 CAGR ~8-9% CAGR 2025-30 (est.) 6-8% ~$1.1 6-8% ~$2
Slide 76: Delivering Customized Solutions with Seamless Execution
Delivering Customized Solutions with Seamless Execution GROW Global Client Emerging Capacity & Integrated Relationships Biotech Readiness Client Solutions • Expand and deepen strategic • Provide tailored solutions for • Invest to support demand • Connect capabilities across relationships with leadin
Slide 77: Why We Win: Scientific Leadership, Scale, and Execution
Why We Win: Scientific Leadership, Scale, and Execution Scientific Breadth and Depth Global Scale and Speed and Deep Client Leadership of Capabilities Infrastructure Execution Relationships • Deep scientific and • Industry-leading • Extensive global • Our solutions • Trusted partner to regulatory ex
Slide 78: Manufacturing Overview and Growth Strategy
Manufacturing Overview and Growth Strategy Kerstin Dolph | SVP, Manufacturing
Slide 79: Key Messages
Key Messages Harnessing strength in Microbial Solutions and Biologics 1 Testing to continue to capitalize on secular growth drivers, including biologics drug development Advancing our refined Manufacturing Solutions portfolio to support 2 attractive growth and margin characteristics Expanding share
Slide 80: Two Complementary Businesses with Recurring Testing Revenue
Two Complementary Businesses with Recurring Testing Revenue Microbial Solutions Biologics Testing Mission-critical microbial quality-control products Process development and outsourced quality- control testing to support biologics manufacturing Quality-control testing for sterile and non-sterile app
Slide 81: Manufacturing Revenue Breakdown
Manufacturing Revenue Breakdown Business Mix excl. CDMO1 Client Segment2 Geographic Region2 12% 28% 37% 42% $766M 2025 revenue2 53% 35% 63% 22% 8% Microbial Solutions Biotech Globals North America APAC & ROW Biologics Testing Academic / Gov’t Other3 Europe 1) Based on 2025 Manufacturing revenue excl
Slide 82: Focused Portfolio Strengthens Growth, Margins, and Client Relationships
Focused Portfolio Strengthens Growth, Stronger Growth and Margin Margins, and Client Relationships Profile after CDMO Divestiture Manufacturing Solutions Today >400 bps >1,000 bps Revenue Growth Non-GAAP Operating • CDMO divestiture created a more Improvement1 Margin Improvement1 focused portfolio P
Slide 83: Manufacturing Solutions Long-Term Financial Targets
Manufacturing Solutions Long-Term Financial Targets Organic Revenue Growth1 Non-GAAP Operating Margin1 7% – 9% >40% ‘27–’30 CAGR through 2030 Key Assumptions Supporting Targets Volume Growth in Next-Generation Geographic Recurring Products Core Markets Biologics Opportunities and Services Benefit fr
Slide 84: Executing Our Pathway to Purpose Strategy
Executing Our Pathway to Purpose Strategy MODERNIZE STRENGTHEN GROW Company and World-Class Customized, Industry Scientific Portfolio Client-Centric Approach • Digitizing manufacturing workflows • Expand biologics testing capabilities • Simplifying manufacturing testing and quality systems through n
Slide 85: Modernizing Manufacturing Operations and Client Workflows
Modernizing Manufacturing Operations and Client Workflows through Create the Future MODERNIZE Automation Digital Client Access Operational Discipline • Increase productivity through fully • Expand e-commerce and online service • Standardize laboratory methods to automated manufacturing lines visibil
Slide 86: Extending Portfolio and Client Relationships through Higher-Value Applications
Extending Portfolio and Client Relationships through Higher-Value Applications STRENGTHEN & GROW Microbial Solutions Biologics Testing Strategic Deepening Client Innovation Expansion Partnerships & M&A Relationships • Advance innovation across • Maximize existing capacity • Strengthen biologics test
Slide 87: Well-Positioned to Benefit from Evolving Client Requirements
Well-Positioned to Benefit from Evolving Client Requirements GROW Biopharma Emerging Quality & New Approach ~$5B Addressable Market2 Manufacturing Therapeutic Regulatory Methodologies Investment Modalities Expectations (NAMs) • >$500B1 of announced • Increasing R&D focus on • Increasing quality, • G
Slide 88: Endosafe Nexus Demonstrates Value of Automation and Continuous Innovation
CASE STUDY Endosafe® Nexus 200 Demonstrates Value of Automation and Continuous Innovation Background Our Solution Outcomes1 • Growing demand for greater • Developed first commercially available Reduced invalid assay rates efficiency in endotoxin testing fully automated endotoxin testing platform fro
Slide 89: Why We Win: A Recognized Leader in Manufacturing Solutions
Why We Win: A Recognized Leader in Manufacturing Solutions Leading Differentiated Global Comprehensive Regulatory Player Technologies Footprint Offering Expertise • #1 in endotoxin testing • Proprietary testing • Global network • Spanning development • Extensive experience platforms supporting drug
Slide 90: RMS Overview and Growth Strategy
RMS Overview and Growth Strategy Colin Dunn, Ph.D., B.V.M.S. | SVP, Global RMS
Slide 91: Key Messages
Key Messages Leader in research models with scientific expertise and 1 operational discipline Utilizing our differentiated global footprint to support clients 2 wherever research occurs Strengthening service offering through CRADL®, specialized 3 scientific services, and broader client adoption Impr
Slide 92: Global Leader Supporting Biomedical Research
Global Leader Supporting Biomedical Research Research Models Scientific Services • An industry-leading portfolio of the most widely used • Insourcing Solutions supporting clients’ use of models and specialized small research models in their facilities to drive more efficient vivarium management • Gl
Slide 93: RMS Revenue Breakdown
RMS Revenue Breakdown Business Mix1 Client Segment2 Geographic Region2 6% 18% 24% 15% 45% $846M 55% 2025 revenue2 21% 59% 20% 37% Models1 Biotech Globals North America Europe Services Academic / Gov’t Other3 APAC ROW4 1) Based on 2025 RMS revenue excluding $26M of divested Cell Solutions revenue. 2)
Slide 94: Strategic Actions Have Enabled Continuous Attractive Returns
Strategic Actions Have Enabled Continuous Attractive Returns Adapting to a Changing Resilient, Recurring-Revenue Research Landscape Business • Offset lower North America and • Remain a trusted preclinical Europe small model volumes partner for high-quality research through disciplined pricing models
Slide 95: RMS Long-Term Financial Targets
RMS Long-Term Financial Targets Organic Revenue Growth1 Non-GAAP Operating Margin1 2% – 4% Mid-20% ‘27–’30 CAGR through 2030 Key Assumptions Supporting Targets China & Global Biotech Growth Continued Growth in CRADL® Earlier Client Engagement Supporting expanding biotech investment and Specialized S
Slide 96: Executing Our Pathway to Purpose Strategy
Executing Our Pathway to Purpose Strategy MODERNIZE STRENGTHEN GROW Company and World-Class Customized, Industry Scientific Portfolio Client-Centric Approach • Accelerate automation, digital tools, • Support increasingly complex research • Deepen client engagement through and data-driven decision ma
Slide 97: Expanding Digital Foundation
Expanding Digital Foundation MODERNIZE Simplify Improve Enable Client Journey Operational Efficiency Future Innovation • Create a single digital entry point for • Automate routine laboratory and • Enterprise data supports faster clients operational workflows with data / robotics decision making • Si
Slide 98: Well-Positioned to Benefit from Evolving Client Requirements
Well-Positioned to Benefit from Evolving Client Requirements STRENGTHEN & GROW Increasing Stronger Animal Simplified >$2B Global Biotech Addressable Market1 Research Welfare Sourcing and Innovation Shifts Complexity Expectations Workflows • Demand for specialized • Greater focus on animal • Simplifi
Slide 99: Digital Tools Are Simplifying the RMS Journey
CASE STUDY Digital Tools Are Simplifying the RMS Journey Background Our Solution Outcomes • Clients increasingly expect • Apollo for CRADL® supports 90% of e-commerce inquiries placed are intuitive, self-service access onboarding, project startup, resource automated through to order confirmation thr
Slide 100: Why We Win: Recognized Leader in Research Models & Services
Why We Win: Recognized Leader in Research Models & Services Leading Reliable Digital Quality & Regulatory Player Global Supply Engagement Leadership • #1 global RMS provider • Reliable, high-quality supply • Client-centric digital • An industry leader in animal across global footprint experience thr
Slide 101: Q&A Session
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Slide 102: Closing Remarks: Invest with Us
Closing Remarks: Invest with Us Birgit Girshick | Chief Executive Officer
Slide 103: Why Invest in CRL
Why Invest in CRL 1 Attractive long-term market opportunity Biopharma spending is recovering, supported by secular growth in biologics, AI-enabled discovery, NAMs, and increasing R&D complexity 2026 2030 2 Differentiated integrated platform GUIDANCE TARGET2 Unique scientific capabilities across drug
Slide 104: 2026 Investor Day
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Slide 105: Appendix
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Slide 106: Speaker Bios
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Slide 107: Birgit Girshick
Birgit Girshick CHIEF EXECUTIVE OFFICER Birgit Girshick became Chief Executive Officer of Charles River Laboratories and a member of the Board of Directors in May 2026 following a distinguished career spanning more than 35 years with the Company. Since joining Charles River in 1989, she has held lea
Slide 108: Glenn Coleman
Glenn Coleman EVP & CHIEF FINANCIAL OFFICER Glenn Coleman joined Charles River Laboratories in April of 2026 as Corporate Executive Vice President & Chief Financial Officer. In this role, Mr. Coleman leads the Company’s global Finance organization and oversees the Accounting, Tax, Treasury, Investor
Slide 109: Namandjé Bumpus, Ph.D.
Namandjé Bumpus, Ph.D. SVP, CHIEF SCIENTIFIC & INNOVATION OFFICER Dr. Namandjé N. Bumpus joined Charles River Laboratories in 2026 as Senior Vice President, Chief Scientific and Innovation Officer. In this role, Dr. Bumpus leads the Company’s scientific strategy, oversees research and development in
Slide 110: Mark Mintz
Mark Mintz EVP, CHIEF INFORMATION OFFICER & GLOBAL SHARED SERVICES Mark Mintz joined Charles River in February 2021 as Corporate Senior Vice President, Chief Digital Officer, and was promoted to Corporate Senior Vice President, Chief Information Officer in June 2021. He was promoted to Corporate Exe
Slide 111: Shannon Parisotto
Shannon Parisotto EVP, GLOBAL DISCOVERY & SAFETY ASSESSMENT Since joining Charles River in 2000 at its Nevada operation, Shannon Parisotto has built an impressive career spanning finance, operations, and business leadership. Over the course of more than two decades, she has held positions with incre
Slide 112: Kerstin Dolph
Kerstin Dolph SVP, MANUFACTURING Kerstin Dolph joined Charles River in 2001 in a Finance role for the Company’s Research Models and Services (RMS) business in Germany. She transitioned to the U.S. RMS business in 2009 and was promoted to Senior Finance Director of Global RMS in 2015. In 2017, Ms. Do
Slide 113: Colin S. Dunn, Ph.D., B.V.M.S.
Colin S. Dunn, Ph.D., B.V.M.S. SVP, GLOBAL RESEARCH MODELS & SERVICES Colin S. Dunn, Ph.D., B.V.M.S. joined Charles River in 2008 as Country Manager for the Company’s RMS United Kingdom business and as Executive Director for Veterinary and Professional Services in Europe. In 2011, Dr. Dunn was promo
Slide 114: Todd Spencer
Todd Spencer VP, INVESTOR RELATIONS Todd Spencer joined Charles River Laboratories in 2006 as Manager, Investor Relations. Mr. Spencer progressed in the Investor Relations role through positions of increasing responsibility, and in June 2018, was promoted to Corporate Vice President, Investor Relati
Slide 115: Regulation G Financial Reconciliations
Regulation G Financial Reconciliations
Slide 116: Reconciliation of GAAP to Non-GAAP: Segment Information
CHARLES RIVER LABORATORIES INTERNATIONAL, INC. RECONCILIATION OF GAAP TO NON-GAAP SELECTED BUSINESS SEGMENT INFORMATION (UNAUDITED)(1) (in thousands, except percentages) Three Months Ended Twelve Months Ended December 27, 2025 December 28, 2024 December 27, 2025 December 28, 2024 Research Models and
Slide 117: Reconciliation of GAAP to Non-GAAP: Segment Information (continued)
CHARLES RIVER LABORATORIES INTERNATIONAL, INC. RECONCILIATION OF GAAP TO NON-GAAP SELECTED BUSINESS SEGMENT INFORMATION (UNAUDITED) (1) (in thousands, except percentages) Three Months Ended Twelve Months Ended December 27, 2025 December 28, 2024 December 27, 2025 December 28, 2024 CONTINUED FROM PRE
Slide 118: Reconciliation of Free Cash Flow (Non-GAAP)
CHARLES RIVER LABORATORIES INTERNATIONAL, INC. RECONCILIATION OF FREE CASH FLOW (NON-GAAP) (1) (dollars in thousands) Twelve Months Ended December 27, 2025 December 28, 2024 December 30, 2023 December 31, 2022 Net cash provided by operating activities $ 737,646 $ 734,577 $ 683,898 $ 619,640 Add back
Slide 119: Reconciliation of GAAP to Non-GAAP: Segment Information 2015
CHARLES RIVER LABORATORIES INTERNATIONAL, INC. RECONCILIATION OF GAAP TO NON-GAAP SELECTED BUSINESS SEGMENT INFORMATION (UNAUDITED) (1) (in thousands, except percentages) Three Months Ended Twelve Months Ended December 26, December 27, December 26, December 27, 2015 2014 2015 2014 Research Models an
Slide 120: Reconciliation of GAAP Earnings to Non-GAAP Earnings
CHARLES RIVER LABORATORIES INTERNATIONAL, INC. RECONCILIATION OF GAAP EARNINGS TO NON-GAAP EARNINGS (UNAUDITED) (1) (in thousands, except per share data) Three Months Ended Twelve Months Ended December 26, December 27, December 26, December 27, 2015 2014 2015 2014 Net income attributable to common s
Slide 121: Reconciliation of Gross/Net Leverage Ratio
CHARLES RIVER LABORATORIES INTERNATIONAL, INC. RECONCILIATION OF GROSS/NET LEVERAGE RATIO, INCLUDING GAAP NET INCOME TO ADJUSTED EBITDA (UNAUDITED) (1) (dollars in thousands, except for per share data) June 27, 2026 March 28, 2026 December 27, 2025 December 28, 2024 December 30, 2023 December 31, 20
Slide 122: Reconciliation of GAAP to Non-GAAP Revenue and EPS Guidance
CHARLES RIVER LABORATORIES INTERNATIONAL, INC. RECONCILIATION OF GAAP TO NON-GAAP REVENUE AND EARNINGS PER SHARE (EPS) Guidance for the Twelve Months Ended December 26, 2026E 2026 GUIDANCE (1) Revenue growth/(decrease), reported (3.5)% - (2.5)% Less: Contribution from acquisitions 0.0% - (0.5)% Add:
Slide 123: 2026 Investor Day
Coos charles river | wey 2026 Investor Day « _ ea
Charles River Laboratories International — Investor Day (September 2026) on 6ix