Heska CorporationInvestor Presentation

June 2019

Investor Presentation 2019. Important Disclosure and Safe Harbor Notice.

This document and presentation (verbal or written) contains or incorporates by reference forward-looking statements regarding Heska Corporation (“Heska”) and its affiliates, including projections,

estimates, forecasts, plans and objectives. Although management believes that expectations reflected in such forward-looking statements are reasonable, no assurance can be given that such expectations

will prove to be correct. In addition, these statements are subject to certain risks, uncertainties and other assumptions that are difficult to predict and may be beyond our control. If one or more of these risks

or uncertainties materialize, or if underlying assumptions prove incorrect, then Heska’s actual results may vary materially from what management anticipated, estimated, projected or expected. The key risk

factors that may have a direct bearing on the Heska’s results of operations and financial condition are described in detail in Heska’s periodic reports most recently filed with the Securities and Exchange

Commission (“SEC”). Investors are encouraged to consider closely the disclosures and risk factors contained in Heska’s annual and quarterly reports filed from time to time with the SEC. Heska undertakes no

obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise except as required by applicable securities laws. Information

contained in this document and subsequent and associated verbal presentation speaks only as of the date hereof, is unaudited, and is subject to change. Forward-looking statements can be identified by the

use of words such as “expects,” “may,” “anticipates,” “intends,” “would,” “will,” “plans,” “believes,” “estimates,” “should,” and similar words and expressions and as noted “*” in footnotes and other

comments and as noted in relation to “Act Two” ”2019”, ”2020”. These statements are based on management’s current expectations and beliefs as well as numerous assumptions and estimates concerning

future events and are subject to a number of risks and uncertainties. Recipients are cautioned that there is an inherent risk in using past results, including trends, to predict future outcomes, including

financial results and perceived customer behavior; do not put undue reliance on forward-looking statements because actual results may vary materially from those expressed or implied. Factors that could

affect the business and financial results of Heska generally include, but are not limited to, the following risks related to: reliance on third-party manufacturers and developers for its products; the

commercialization and development of new products; uncertainties related to attempts to expand into international markets; Heska's ability to measure and predict trends and effectiveness of commercial

relationships; future impact of recent business development activity; Heska’s ability to access capital on acceptable terms; Heska's reliance on outside suppliers, which is substantial; competition, which is

robust, varied, and well resourced; and the risks set forth in Heska's filings and future filings with the SEC, including those set forth in Heska's Annual Report on Form 10-K for the year ended December 31,

2018. Note: “High Value Add Sales” in this presentation includes POC Lab Consumables, POC Imaging and POC Lab Instruments except for Infusion Pumps. High Value Add Sales does not include PVD, except

for Allergy. “Low Value Add Sales” includes OVP, Infusion Pumps and PVD which includes Heartworm, except for Allergy. Amounts are not GAAP and not indicative of the Company’s segment reporting.

Management believes these details will assist investors to understand the Company’s business. Refer to 10K ending December 31, 2018 and 10K/A for 2017 for GAAP, segments and other information.

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Seriously Fun. Seriously Good Business.

1. Global Animal Healthcare Trends

2. Heska Position and Strategy

3. R&D and International Investments

4. 2019 Outlook Focus

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Investment Baseline Veterinary Healthcare

Veterinary Healthcare is a great (≈ 4% - 5%) place to be…

Humanization of Pets is an expanding Global & Demographic trend

Family Members need Baseline, Juvenile, Wellness & Aging care

Positive regulatory, insurance and payor trends

Growth… Supplies, OTC, Medicine $6.2B in 2001 to 15.5B 2018E 1

Accelerating industry investment & consolidation

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1. Source: American Pet Prod Assoc.

Investment Baseline Veterinary Diagnostics

Diagnostics is the best (≈ 6% - 9%) place to be….

Diagnostics is Voice of Pet & first Spend (necessary & secure)

Diagnostics is a veterinarian major revenue-profit center (≈ 20%)

Diagnostics utilization occurs in (≈ 15% - 25%) Hospital Pet Visits

Hospital Pet Visits are rising (≈ 2% - 5%)

Trend of Point of Care Technologies pulling Tests to Point of Care

Diagnostics favored by Veterinarians (Veterinary Licensure Required)

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6

Supportive Growth Trends Globally & Demographically

2.6 2.6 2.6

3.3

Silent Generation Baby Boomers Gen X Millennials

Average Canine Vet Visits per Year by Age Segment

1,813 1,976

2,154 2,352

2,574

2017 2018 2019 2020 2021

Global Veterinary Diagnostics Market ($M)

68% of US households own at least one pet or other animal

An estimated $72.1bn will be spent on pets in the U.S. in 2018

Source: American Pet Prod Assoc Generational Report; 2017-18 Pet Owners’ Survey; American Pet Products Association; Technavio Global Veterinary Diagnostics Market 2017-2021 report

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Strong Industry Performance through the Cycle

3% 5%

7%

15% 15% 16% 16%

25%

11%

1%

7%

10%

6% 6%

8% 8% 11% 11%

12%

27%

3%

14%

35%

13%

31%

25%

17%

5%

18% 15%

9%

16%

25%

8% 4%

8% 8%

20%

13%

10%

13%

24% 25%

17%18%

10%

3%5%

8%

14%

6% 6%

11%

18%

2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018

IDEXX Abaxis VCARevenue growth evolution over time: IDEXX, Abaxis and VCA

EBITDA margin evolution over time: IDEXX, Abaxis and VCA

20% 20% 21%

21%

23% 22% 21%

19%

22% 22% 23% 23%

24% 23%

21% 24%

26% 27% 26%

5%

10% 9%

14%

17% 19%

20% 21% 21% 21%

19% 18%

20% 20%

21%

24%

23%

19% 19% 19% 18%

22%23% 22%

21%

22% 23% 22% 22%19%

18%

17%

19%

20%

20%21%

2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018

Source: Company filings; IDEXX FYE 12/31; ABAXIS FYE 3/31; VCA FYE 12/31; EBITDA calculated as operating income plus D&A; VCA was acquired by Mars Inc in September 2017

(10%)

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Diagnostics Drives Consolidating Global Animal Health Cycle

Leading Portfolio & Pipeline in POC Diagnostics

Blood Chemistry, Hematology, Gasses, Immunoassays, Coagulation, Infectious Disease

Urine Exclusive combined with Fecal (2020 Release Target)

Fecal Exclusive combined with Urine (2020 Release Target)

Imaging Digital Radiography, Ultrasound, Endoscopy

Allergy Diagnostics and Immunotherapy

Data Cloud & Local PACS and Data. (All core solutions have Two-Way PIMS capability)

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2019 $105MM Outlook

(CCA) Core Companion Animal Markets Focus

POC Lab & Imaging Diagnostics

Allergy Testing and Immunotherapy

Loveland, Colorado: 215 FTE

2019 $18MM Outlook

(OVP) Animal Health Contract Manufacturing Focus

Vaccines (Food Animal Health)

Biologics and Pharmaceuticals

Des Moines Iowa: 125 FTE

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Core Companion Animal Segment Other Vaccines & Pharma Segment

POC Lab

48%

HW & Allergy

26%

Imaging

26%

Customers

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$44.9

$38.1

$22.4

$-

$10.0

$20.0

$30.0

$40.0

$50.0

2017 2018 2019

Non-CoreOVP Segment, CCA: Pumps & PVD (except Allergy)

35% 30% 18%% of All Sales

$84.4

$89.3

$100.5

$75.0

$80.0

$85.0

$90.0

$95.0

$100.0

$105.0

2017 2018 2019

Core of Core Companion AnimalPOC Lab Consumables & Instruments, Imaging, Allergy

65% 70% 82%% of All Sales

2019 is forward looking Outlook. “Core” include CCA Segment POC Lab Consumables & Imaging & Lab Instruments, not Infusion Pumps and not PVD, except for Allergy. “Non-Core” include OVP, Infusion Pumps and

PVD including Heartworm, except for Allergy. Amounts not GAAP and not indicative of the Company’s segment reporting. Management believes this visual and data will assist investors to understand the

Company’s business. Refer to 10K ending December 31, 2018 and 10K/A for 2017 for GAAP, segments and other information. 2019 is Outlook.

+5.9%

+12.5%-15.2%

-41.2%Million

s Million

s

POC Lab Diagnostics Subscriptions is Core of Core

Heska Reset Subscriptions

Reset Benefits for 80% of Hospital’s Testing

Assets Ownership Retained by Heska

6 Year Subscription with Auto-Renewal 2 Years

Price Protection 4%

Monthly Minimum ≈ $1,000 to $1,500+ per Month

Subscriptions cover >90% of Heska POC Lab Users

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1) POC Lab Diagnostics Consumables Growth $50MM to $52.5MM (12% - 17%)

(Estimate is for 95-99% of 2019 Consumables Sales to Multi-Year Subscribers)

2) POC Lab Diagnostic Hospital Share Growth +1.0% - 1.5% (US equivalent)

3) POC Lab Diagnostic 95% Subscribers Retention

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2019 Outlook Highlights

Core Products and Non-Core Products and related numbers are not GAAP and are not indicative of the Company’s segment reporting and are are presented because Management believes they will assist investors to understand the Company’s business in 2019. Please refer to 10K ending December 31, 2018 and 10K/A for 2017 for GAAP, segments and other information.

1) Reaffirm 2019 Full Year Outlook

2) Highest number of new POC Lab Subscriptions since Q1 2016

3) Higher POC Lab utilization trends under new 2019 promotions

4) Active Subscriptions Metrics in-line with full year Outlook

5) International Heska Australia and Heska France launched

6) New 2019 & 2020 product launches on target

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Q1 2019 Report Highlights

Core Products and Non-Core Products and related numbers are not GAAP and are not indicative of the Company’s segment reporting and are are presented because Management believes they will assist investors to understand the Company’s business in 2019. Please refer to 10K ending December 31, 2018 and 10K/A for 2017 for GAAP, segments and other information.

$29.5M Revenue

Total Gross Margin +190bps

CCA Gross Margin +140bps

Grow Market Share

Continue to Gain Share (1.0 – 1.5% USA equivalent)

Retain Current Reset Subscribers (95%)

Expanded Sales Teams (25%)

Expand International POC Market Share (≈0%)GROW

GROW MARKET SHARE

GROW UTILIZATION

GROW

PRICE

GROW PRODUCTS

Incremental Drivers15

2019 Growing Test Supplies (12% - 17%)

Grow Utilization on Existing Installs

New Tests into ≈750 - 2,200 installed analyzers

(1) Progesterone (2) BUN (3) Plus e-Wrap

Market-wide Trends Supporting Grow Utilization

More Patient Visits drive Hospital Growth (≈ 2% - 5%)

More Patient Visits result in a Diagnostic (≈ 15% - 25%)

Incremental Drivers16

GROW

GROW MARKET SHARE

GROW UTILIZATION

GROW

PRICE

GROW PRODUCTS

2019 Growing Test Supplies (12% - 17%)

Grow Price

Price Protection for Installed Base (4%)

Test Menu Enhancements (examples) (+$1)

GROW

GROW MARKET SHARE

GROW UTILIZATION

GROW

PRICE

GROW PRODUCTS

Incremental Drivers17

2019 Growing Test Supplies (12% - 17%)

GROW

GROW MARKET SHARE

GROW UTILIZATION

GROW

PRICE

GROW PRODUCTS

Incremental Drivers18

Grow Products

New and Upgrade Products from R&D

2019 Growing Test Supplies (12% - 17%)

2018 Research and Growth Development Investments

1) $1.3MM Increase in R&D

2) $1.5MM Increase in Sales and Marketing Expansion and International

3) $3.0MM Investment in Core Technology for Element i+

4) $5.0MM Investment in Core Technology Innovation Project

5) $8.2MM Investment Acquisition of Core Software Technology

6) Prepare Heska to Manufacture New Heska Owned POC Diagnostics

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Major Drivers

2019 Expanding Products: Major Growth Initiatives

Rotor Chemistry (International) (Q2 ‘19)

Immunodiagnostics (Limited) (Q2 ’19)

Urine & Fecal AI Imaging (Q2 ‘20)

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2019 Major Product Expansion

International Focused Launch (Q2 ‘19)

Global Veterinary and Animal Health

20 Tests per Rotor (v 14 Tests on Market)

Two way wireless and Ethernet

communication

Superior run-time and performance

Under 12 pounds (5.5kg)

Superior Heska Reset Economics

Major Drivers

Major Drivers

2019 Major Product Expansion

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2019-2020 Assays in Development

Non-Regulatory (USDA)

Total T4 (Q2 ‘19 Launch)

Cortisol (Q2 ‘19 Launch)

Canine TSH

Progesterone

2019-2020 Assays in Development

Regulated (USDA)

Canine Heartworm (4+ Plex)

Lyme (4+ Plex)

Anaplasma (4+ Plex)

Ehrlichia (4+ Plex)

GROW PRODUCTS (Q2 ‘19)

High Sensitivity Immunodiagnostics Multi Plex Analyzer (>$100M

Target)

Major Drivers

5 Million Urine Sedimentation Exams Annually

7,000+ Competitive Sediment Analyzers have validated market

2020 Major Product Expansion

Urine Sediment Full Automatic Imaging (>$100M Target)

Fecal Flotation Full Automatic Imaging (>$300M Target)

30 Million Manual Point of Care Fecal Floatation Exams

Roundworm, Hookworm, Tapeworm, Whipworm, Flukeworm, Giardia & more…

(Q2 ‘20)

Major Drivers

CaOx Crystal

Cocci

Rods

White Blood Cell

HookwormDiphyllobothrium

Giardia

Major Drivers

Q1 2019 Test Supplies and Test Beds Validated

Q3 2019 Alpha Instruments and Low Volume Test Supplies

Q4 2019 Beta Instruments and Test Supplies Manufacturing in Volume

Q2 2020 Production Instruments in Volume. Commercial Release.

Production and Development Plan Outlook

2020 Major Product Expansion

(Q2 ‘20)

Leading Portfolio & Pipeline in POC Diagnostics

Blood Chemistry, Hematology, Gasses, Immunoassays, Coagulation, Infectious Disease

Urine Exclusive combined with Fecal (2020 Release Target)

Fecal Exclusive combined with Urine (2020 Release Target)

Imaging Digital Radiography, Ultrasound, Endoscopy

Allergy Diagnostics and Immunotherapy

Data Cloud & Local PACS and Data. (All core solutions have Two-Way PIMS capability)

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2019 Focus for POC Lab Diagnostics

• Test Consumables Growth 12% - 17% ($50.0 - $52.5MM)

• Market Site Gains 1.0-1.5% (USA equivalent)

• Retention of 95% of Subscribers

• Continue Geographic Expansion

• Launch New Element i+® and Element RC® and Others

• Prepare 2020 Element UF

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