Coppersmith Presentation to Alere Inc Stockholders

PAGE 30 | COPPERSMITH In February Alere announced the rebranding of Health Management as "Health Information Solutions" with a focus on health information exchanges (HIE), having acquired poorly-positioned, distressed player Wellogic in 2011 for an undisclosed sum ▪ This sounds like growth, but does not change the facts of Alere's insignificant position in the highly-competitive HIE market Alere's HIE sales remain immaterial and undisclosed, with only anecdotal reports of fewer than 10 hospitals on network Zwanziger has stated Alere has the only truly operable, universal and agnostic HIE system in the market. To the contrary: Industry reports state that there are in fact roughly 280 such systems available today24 KLAS Research did not even include Alere in its review of the top 11 vendors, comprising 80% of the HIE market25 Including the following public companies: Microsoft, GE, Cerner, Allscripts, Aetna, United Health, McKesson & Siemens - average market capitalization of ~$95B, almost 50x Alere's Medicity (Aetna) has 800 hospitals & 250,000 physicians using its network already Allscripts has stated publicly it will spend $500mm on its HIE business in 2013 alone26 Alere management acknowledges the long-term value in HIE is the analytics one can drive from data ▪ The above-mentioned HIE leaders from the health insurance and IT industries own, control or access more healthcare data than Alere (or arguably any diagnostics company) and have been producing data analytics for decades Alere's HM Plan, Part 2: Rebranding and Health Information Exchanges ■ ■ ■ ■ ■ We believe Alere is a dilettante in this space, and the industry research supports this view

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