#1charles river Meeting with Management Strategic Overview James C. Foster Chairman, President & Chief Executive Officer September 21, 2023#2Focus of CRL 2023 Meeting with Management ◉ - An update on our growth drivers and strategic imperatives, as well as the current state of the market environment Resilience of our business model during a period of normalizing demand trends CRL continuing to enhance capabilities around higher-growth end markets, principally biologics and cell & gene (C&GT) therapies Impact of our partnership strategy and technology Updated financial targets through 2026 Believe we are well positioned to deliver 6%-8% organic revenue growth from 2023-26E ESG: Our commitment to Corporate Citizenship and advancing responsible science and the 4Rs Technology: The digitalization of our business will transform the client experience and our connectivity with them Charles River Laboratories (CRL) 2#3The Scientific Partner of Choice to Accelerate Biomedical Research and Therapeutic Innovation 130 Innovate Broad portfolio of high-quality research models and associated services to support biomedical researchers in discovery of new therapeutics Accelerate Flexible and efficient outsourced model for non- clinical development to enable quick progression into the clinic Working with clients from discovery and early-stage development through the safe manufacture of life- saving therapies Manufacture Comprehensive solutions to support biopharmaceutical manufacturers in the critical testing, process development, and production of advanced therapies Charles River Laboratories (CRL) 3#4Leading, Global, Non-Clinical Drug Development Partner with a Mission to Create Healthier Lives ~21,500 Global employees ~2,600 Scientific professionals with advanced degrees Global Scale >2,000 Biopharma clients ~70% Revenue from biopharma industry >150 Locations in >20 Countries Proven Results #1 Position in Research Models, Safety Assessment & Microbial Solutions Supported >80% of FDA-approved novel drugs over last five years (2018-22) 15% Revenue CAGR 18% Non-GAAP EPS CAGR (2018-2022) Charles River Laboratories (CRL) Diverse Revenue Base by Region 26% 5% $4.0B FY 2022 revenue 69% ■North America ■Europe Asia-Pacific 4#5CRL Investment Thesis 喘 Kil Unique, scientifically differentiated portfolio with integrated, non- clinical capabilities and broad expertise across all drug modalities Leading partner to accelerate biomedical research and therapeutic innovation with flexible, efficient outsourcing solutions Large and diversified client base across the entire drug research, development, and manufacturing continuum Strong and durable industry fundamentals driven by increased outsourcing to address unmet medical needs and evolving complexity of disease Robust value creation strategy led by M&A and strategic partnerships to maintain leadership positions in high-growth markets Charles River Laboratories (CRL) 5#6Unique, Scientifically Differentiated Platform اس Research Models and Services (RMS) Global leader in the production of the most widely used small research models and associated services Foundational tools that enable clients to discover new molecules Discovery and Safety Assessment (DSA) Largest, global partner for outsourced drug discovery, non-clinical development, and regulated safety testing services Enabling preclinical success and efficiently advancing ideas into the clinic Manufacturing Solutions Full-service process development, clinical- to-commercial manufacturing, and quality- control testing products and services Ensuring the quality and safety of manufacturing activities and commercial therapies Basic Research Drug Discovery Non-Clinical Development Charles River Laboratories (CRL) Clinical Development Market Approval Commercial Manufacture Research & Development Continuum Note: DSA segment provides certain services to support clinical development, including clinical bioanalysis/lab sciences. However, the Company does not conduct human clinical trials. 6#7Balanced Revenue Contribution and Robust Growth Profile 19% RMS Total Revenue 61% DSA 20% Manufacturing* Research Models Research Model Services Human Cellular Products (Cell Supply) 9.0% Organic growth FY 2022 25.2% Non-GAAP operating margin FY 2022 - Discovery Services - Safety Assessment 17.5% Organic growth FY 2022 25.3% Non-GAAP operating margin FY 2022 Microbial Solutions Biologics Testing C&GT CDMO 5.3% Organic growth FY 2022 28.8% Non-GAAP operating income FY 2022 Charles River Laboratories (CRL) See ir.criver.com for reconciliations of GAAP to non-GAAP results. All revenue and operating income/margin figures based on FY 2022 financial information. *Note: Charles River completed the previously announced divestiture of the Avian Vaccine business in December 2022. Avian is included in the FY 2022 figures above. 7#8RMS Segment Foundational tools for the discovery of new molecules #1 Global RMS position Research Products Production and distribution of the most widely used small research models, as well as cellular products Services Flexible solutions that support our clients' use of models and the screening of drug candidates ~40% Global RMS share -1 of 2 Small research models sold in North America and Europe from CRL - Global footprint ensures proximity to major biohubs - Consistent, high-quality source of small research models provides critical link to DSA business - Creative strategies, including CRADL™, to attract emerging biopharma clients at earlier stages - Enhanced digital enterprise improves efficiency and client experience ~150 of the most widely used research model strains Charles River Laboratories (CRL) Note: CRL market share data based on management estimates and publicly available information. 8#9RMS Growth Drivers: Expansion of Services, Capabilities, and Footprint Re-established as a sustained growth engine ■ - RM Services driving incremental growth, representing nearly half of RMS segment revenue Expansion of CRADL™ offering Enables clients to invest in research, not in infrastructure Explora acquisition in 2022 further expanded CRADL TM to >30 locations with >400,000 ft² of full-service, turnkey vivarium rental capacity Continued expansion of China footprint in this high-growth region New sites in central (Wuhan), southern (Shunde), and western (Chengdu) regions RMS China averaged double-digit annual revenue growth since acquired in 2013 Digital enablement of research models and GEMS businesses further differentiates CRL from competition Real-time inventory and e-commerce capabilities Charles River Laboratories (CRL) 9#10DSA Segment Drug discovery research, development, and regulatory-required safety testing of potential new drugs 100 Preclinical drug candidates discovered for clients since 1999 . Discovery Services Single source of services for discovering and characterizing novel drug candidates for preclinical development Early discovery, in vivo, and in vitro capabilities • Expertise in most major therapeutic areas, with a focus on oncology and CNS Broad capabilities across small and large molecule, antibody, and C&GT Expertise in integrated programs Ability to engage with clients at any stage of their discovery or early-stage development programs • . Safety Assessment (SA) Full suite of safety studies required for regulatory submission on a global basis across all therapeutic areas Global leader in both non-regulated and regulated (GLP) outsourced SA services Broad scientific capabilities General and specialty toxicology, bioanalysis, pathology, safety pharmacology, drug metabolism, and pharmacokinetics (DMPK) services Largest specialty toxicology offering from inhalation and infusion to developmental and reproductive toxicology -30% Outsourced SA share*, with next largest competitor at 12% -30 DSA sites worldwide ensure proximity to clients A safety assessment program costs 5x-10x less than a late-stage clinical program, providing incentive for clients to focus R&D spending on IND achievement Charles River Laboratories (CRL) Note: CRL market share data based on management estimates and publicly available information. *Safety Assessment market sector size definition has expanded (and CRL share updated) to fully reflect preclinical bioanalysis and chem & agchem sectors. 10#11DSA Growth Drivers: Best-in-Class Science and Service Driving Sustained Demand Focused on preclinical R&D support ◉ ◉ - - M&A and technology partnerships enhancing scale, innovative capabilities, and therapeutic area expertise Sustained demand driven by greater outsourcing by biopharma clients Opportunity to drive incremental outsourcing penetration, with Discovery only ~30% outsourced and Safety Assessment 60%+ outsourced Biotech leveraging outsourcing expertise to drive innovation instead of building in-house capabilities Large biopharma utilizing scientific partners like CRL in place of maintaining internal resources Significant opportunity to further increase synergies and client overlap More than half of Discovery clients remained with CRL for safety assessment Digital transformation remains critical driver for sustained growth Successful launch of Apollo TM for Safety Assessment further connects clients to real-time data and our comprehensive portfolio Charles River Laboratories (CRL) 11#12Manufacturing Solutions Segment Safe production and release of manufactured products - Microbial Solutions Rapid, efficient testing platform for microbial detection and identification of sterile and non- sterile applications • • Leading global provider of quality-control (QC) testing products and services FDA-mandated lot release testing for sterile biopharmaceutical products Market-leading platforms EndosafeⓇ endotoxin detection AccugenixⓇ microbial identification and strain typing CelsisⓇ rapid microbial detection - Biologics Testing Process development and quality- control testing to support the manufacture of biologics Premier global partner in navigating the complex pathway to biologic effectiveness Supports developers and manufacturers with their testing, characterization, and cell bank manufacturing needs Testing and assay development throughout drug development, clinical, and commercial manufacturing - ន C&GT CDMO Scientific partner for C&GT development, testing, and manufacturing Solutions across all major CDMO platforms for C&GT Primary expertise in gene- modified cell therapy with growing capabilities in gene therapy, including plasma DNA and viral vectors Excellent strategic fit across CRL portfolio Integrated value chain from foundational cellular materials through analytical testing and the production of advanced therapies -70% of Microbial Solutions revenue from reagents/consumables, creating a recurring revenue stream -65% of CRL's C&GT CDMO revenue from gene-modified cell therapy production Hannah charles rive Charles River Laboratories (CRL) 12#13Manufacturing Growth Drivers: Capitalizing on the Rapid Expansion of Biologics and C&GT Pipelines Driven by biologics No competitors have our comprehensive, rapid, and efficient testing platform for microbial detection and identification Only 10% of industry-wide endotoxin testing volume converted to rapid testing methods - long runway for future growth Increased number of biologics in development, fueled by C&GT programs ~3,300 C&GT programs in the biopharma R&D pipeline, with >2/3 of programs in preclinical phase Stay abreast of new technologies and initiatives to connect with clients - Evolving trend towards next-generation sequencing (NGS) testing technologies C&GT CDMO business gaining traction and expected to perform meaningfully better this year Leveraging our premier position in this high-growth market sector for advanced modalities Several clients moving towards commercialization after completed regulatory audits Charles River Laboratories (CRL) 13#14Large and Diverse Client Base Provides Stability and Sustained Growth ■ Most of top 25 clients are large biopharmaceutical companies ◉ Capital market dependent (CMD) public biotechs with <2 years cash represent only ~5% of revenue ■ Strong client overlap between business segments with opportunity to further capture incremental client wallet share Revenue by Client Segment* CRL New Biotech Clients Added** >2,000 Biopharma clients in 2022 Largest client <3% of total FY 2022 revenue -20% -10% -30% Charles River Laboratories (CRL) 673 591 564 533 ■ Biotech -40% ■ Globals ■ Other ■ Academic/ Government FY FY FY FY 2019 2020 2021 2022 * CRL revenue by client segment based on FY 2022 revenue. ** New biotech clients updated for full-year data for each period. Top 25 clients -30% of total FY 2022 revenue 14#15Durable Track Record of Long-Term Growth Driven by sustained industry fundamentals and attractive growth opportunities. >$25B CRL addressable market opportunity provides a long runway for future growth $2,924 $2,621 $2,266 ~14% Revenue Growth CAGR from 2014-2023E $1,681 $1,858 $1,298 $1,363 $3,976 $3,540 >$4B 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023E Charles River Laboratories (CRL) CRL Revenue ($ in millions) 15#16Current State of the Market ■ Near-term normalization in the overall demand trends and market dynamics Recent shift in client spending towards commercializing their late-stage clinical programs ■ Biotech funding has slowed from peak 2020-21 levels, but recent signs of stabilization and ample funding available for promising drug candidates ◉ - IPOs and new biotech creation have slowed, but VCs still have capital to deploy and are doing so more selectively - Expect funding to return to more sustainable, pre-pandemic levels based on YTD 2023 activity Big pharma continues to steadily invest in R&D CRL global biopharma revenue growth has exceeded SMID biotech for last 2 quarters Believe pharma will continue to rely on biotech licensing, partnering, and M&A to advance their pipelines and drive growth - Drug pricing reform (IRA) and other policy changes may shift biopharma pipeline focus over the next few years (i.e., potential move away from small molecules) . Our focus on biologics and the complexity of our work is uniquely tailored to this trend ■ China likely to become less favorable to U.S./Western clients due to continued geopolitical tension, reinforcing importance of US/EU-based CROS/CDMOS 35 FDA novel drug approvals in 2023 (through August); Tracking to surpass 2022 levels ~$50B YTD August 2023 annualized biotech funding; Tracking to be similar to 2018-19 levels Charles River Laboratories (CRL) 16#17Strategic Plan Targets: 2026 Goals Focused on driving RMS profitable revenue growth DSA Charles River Laboratories (CRL) 2026 Financial Targets Organic Revenue Growth (2023-26E CAGR) Non-GAAP Operating Margin (2026E) 6%-8% Mid- to high-20% range 6%-8% Mid- to high-20% range Above 30% Manufacturing ~10% Consolidated 6%-8% ~150 bps of cumulative improvement from 2023 17#18Strengthen Portfolio Best, early-stage translational portfolio from one integrated partner Enhancing our scientific capabilities with a focus on advanced modalities (incl. C&GT) and key therapeutic areas Continue to expand expertise around humanized models, CRADL™, antibody discovery, bioanalysis and advanced screening capabilities, microbial detection, process development, and next-generation sequencing ■ Selectively adding to portfolio via technology partnerships and our M&A roadmap to create even more compelling value for our clients Will also evaluate creative and new opportunities to partner with emerging biotech clients earlier in the R&D process, including our VC relationships and biohubs strategy Enable clients to advance their drugs to the clinic and commercial phase faster and more efficiently Charles River Laboratories (CRL) 18#19C&GT Continues to be a Significant Growth Opportunity C&GT Pipeline by Phase: ~3,300 Active Programs ~20* Therapies approved by FDA today total 83 13% ■ Preclin Ph 1 ■ Ph 2 ■Ph 3 ■Pre-Reg 67 493 10% NUT 449 375 18% 58 364 407 57 287 371 59 60 309 226 56267 2,206 24% 200 1,968 255 171 45 154 1,476 229 40 29 37 1,156 22 171 150 84 71 202 123 175 901 82 88 99 782 663 461 808 -15% 10-20 per year C&GT approvals expected per year by 2025 of biopharma R&D pipelines are C&GT programs >2/3 of programs in preclinical phase, setting the stage for sustained growth 2,700+ C&GT developers worldwide 287 321 311 325 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 CAGR 2019-22** Charles River Laboratories (CRL) $12.6B Funding for C&GT companies in FY 2022 Source: FDA, Alliance for Regenerative Medicine, PricewaterhouseCoopers, PharmaProjects, Citeline, SVB. * Excludes cell transplantation and cell-based regenerative medicine products. 19#20Multiple Strategies to Strengthen Portfolio and Enhance Value for Our Clients and Shareholders | | || | _ Disciplined M&A Strategic Partnerships Venture Capital Relationships M&A remains top, long-term priority for disciplined capital deployment and enhances growth strategy Invested >$4.5B in >25 acquisitions since 2012 Focused on enhancing breadth of scientific capabilities, expanding global scale, and maintaining leadership in advanced and emerging therapies Partnerships and licensing arrangements add innovative capabilities and cutting-edge technologies with limited upfront risk -20 active partnerships currently with >$100M invested to date(1) • Highlights include: Distributed Bio (acquired) - antibody discovery SAMDI Tech (acquired) - label-free high- throughput screening (HTS) Cypre 3D tumor modeling Wheeler Bio - Antibody manufacturing Vernal Bio - mRNA manufacturing/LNP design Innovative strategy to establish CRL as a preferred partner to a large group of emerging, VC-backed biotech companies and create value ~10% of annual revenue comes from VC-backed companies (2) Slightly below 30% average annual return on our VC relationships (investments and revenue)(3) (1) Charles River Laboratories (CRL) (2) (3) Amount invested in strategic partnerships excludes purchase price to acquire Distributed Bio. VC revenue includes VC firms with which we have invested, those with which we have a strategic relationship, and other revenue from VC portfolio companies with which we have no formal relationship. Return calculation as of FY 2022 includes VC investment gains and operating cash flow from revenue generated from VC funds in which we have invested (both net of tax). It does not include revenue generated from VC funds in which we have not invested. 20#21Innovative Partnership Examples Partnership strategy is increasingly essential to extend our science and technology base Valo ✓ DECIPHEX QPathoQuest - I - I | Partnership established 2022 Al-enabled drug discovery solutions TM Partnering on Logica ™, an Al- powered drug solution that leverages Valo Health's Opal Computational Platform and CRL's leading preclinical expertise ■ Logica TM has the capability to transform a drug target into a first-in-class development candidate in just over 2 years - Partnership established 2020 - Digital pathology - Co-development of a digital pathology workflow First to offer clients GLP- validated digital pathology peer review using Deciphex Patholytix Preclinical for toxicologic pathology Patholytix Preclinical - CRL is co-developing exclusive Al models to support accelerate pathology review Partnership established in 2016 (expanded 2020) Next-generation sequencing (NGS) for biologics QC testing - PathoQuest provides a pioneering NGS approach to biologics characterization and release testing - Rapid, in vitro testing approach for viral safety testing and genetic characterization of cell lines Charles River Laboratories (CRL) 21 24#22Drive Greater Speed and Efficiency Evolve into a "data-first, technology-driven" scientific organization Leverage our scalable operating model and digital enterprise, and optimize cost structure to drive greater productivity Committed to operating margin improvement averaging ~50 bps per year beyond 2023 Maintain the "gold standard" for outsourced drug development by adopting key. technologies and optimizing processes Accelerate timelines around safety assessment studies, integrated drug development projects, C&GT projects, and microbial contamination testing Enhance speed and execution with seamless access to real-time client data, data-driven insights, and leveraging scientific and operational data Multiple efforts to digitalize additional client-facing functions, including RMS e-commerce solutions and recent launch of Apollo TM for Safety Assessment Charles River Laboratories (CRL) 1 TEM Hannah 0 charles riv 222 22#23Cutting-Edge Digital Transformation Enhances 75 years of Scientific Expertise Faster Data. Better Application. Improved Timelines. More Educated Results. Charles River Laboratories (CRL) I Digital roadmap for faster and more efficient data access - Better scheduling and resource optimization - Remove "white space" and reduce manual work Digital ecosystem to manage client relationships Enhance real-time client connectivity - E-commerce solutions • Enable clients to order research models online and goal to book their own studies Promote better data management and scientific decision making Enhance data-driven insights - Enhanced Al/machine learning · Drive data automation 23#24Advance Culture and Focus on Sustainability/4Rs Enhanced focus on employee experience, Diversity, Equity, & Inclusion (DE&I), and responsible science Remain focused on being a purpose-driven organization with the best people and an exceptional employee experience Promote a culture of belonging and an inclusive environment Foster training and career development that require continual learning and employee engagement Alternative technologies to animal testing continue to evolve and hold promise CRL committed to being a leader in the preclinical R&D process, including responsible science focused on the 4Rs Non-animal/in vitro alternatives still at an early level of maturity and will likely take decades for the science to meaningfully advance the IND-enabling safety assessment process Remain grounded in our purpose to be a good corporate citizen Charles River Laboratories (CRL) 24#25Robust Value Creation Supported by Strategic Imperatives ☐☐☐☐ Strengthen Portfolio Continuous innovation to distinguish ourselves scientifically and unlock new capabilities Emerging therapies and modalities · High-growth investment opportunities Ⓒ Drive Efficiency Maximizing synergies across portfolio to drive value for clients Process optimization and harmonization to drive continuous improvement Scale operating model and optimize operational effectiveness Enhance Speed Champion Technology - Advance Culture Charles River Laboratories (CRL) Targeting to further reduce our clients' early-stage development timelines Leveraging expertise in science, digital enterprise, and regulatory compliance Decentralized and agile decision making to enhance responsiveness Transforming industry and client experience with best-in-class technology platform Real-time access to scientific data with self-service options E-commerce solutions, automation/robotics, and Al/machine learning Delivering meaningful contributions through an exceptional work environment Focused on opportunities for growth, well-being, meaningful work, and recognition - Make a difference to colleagues, clients, and communities through purpose, belonging, and support 25#26charles river CRL LISTED NYSE