Coppersmith Presentation to Alere Inc Stockholders

PAGE 44 | Alere's Response: Add a COO, But Is He Positioned To Be Successful? COPPERSMITH ▪ On 12/30/12 Alere hired a COO to purportedly address the Company's long-term operating underperformance Coppersmith strongly supports a company having all the management resources it needs We believe the existing management team has demonstrated particular operational weakness > However, we have serious doubts about Alere's new management structure and the COO's role and authority in reality ▪ Several factors heighten our concern: > We believe Alere's operational structure very purposefully reflects the personal preferences and strategy of its Chairman- CEO, and therefore any COO reporting to that Chairman-CEO is likely to have responsibility without authority > Alere's COO has been gathering information for six months but still Alere has not quantified any operational goals or timeframes: cost savings, profitability or growth > Alere's COO's commentary on the 1st quarter of 2013 earnings conference call referred to operating leverage rather than specific cuts, suggesting his mandate may not include a true rightsizing of Alere's bloated infrastructure > Coppersmith was refused the opportunity to meet Alere's COO; to our knowledge other stockholders have not been allowed to meet the COO either COO can walk away after 1-year with 110,000 shares of fully-vested restricted stock, no-questions-asked In our experience, it is unlikely that a COO will succeed in fixing the mistakes of the very CEO and Board to whom he reports

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