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•	Change in ownership, but business as usual: Hardinge continues to innovate and deliver quality products as it executes the strategy for growth

◦	Maintain operations, leadership, staffing

◦	Everyone will maintain the same contacts with Hardinge and subsidiaries

◦	All plans remain on track: trade shows, business meetings, customer orders, invoicing and payments, etc.

◦	CEO Chuck Dougherty will continue to run business and advance the strategy focused on enabling quality production and service while advancing technology

•	The Deal:

◦	$18.50 per share; approximately $245 million

◦	Privet affiliates hold 10.4% of shares outstanding and will vote in favor of the deal

•	Timing:

◦	Subject to customary closing conditions as well as regulatory and shareholder approval

◦	Will require a special meeting of the shareholders which will be scheduled sometime in the coming months

◦	Expect the deal to close by the end of Q2 2018

•	Why sell the Company?

◦	The Strategic Alternatives Committee, a special committee of the independent members of the Board of Directors, conducted a thorough and comprehensive analysis of the proposal and determined that this is a compelling proposal for the shareholders, customers and employees of Hardinge.

◦	$18.50 share price provides fair value and liquidity.

◦	Good time to sell, during a robust point of the business cycle.

◦	Allows for a 45-day go-shop period, during which the Company can solicit and entertain alternative proposals, although there are no assurances of a superior proposal

◦	Unanimous approval by the Board

•	Who is Privet and do they own other machine tool manufacturers?

◦	Privet Fund Management LLC is a fund with approximately $115 million in assets. It has been a Hardinge shareholder since 2015 and currently holds about 10.4% of our outstanding shares.

◦	Privet’s two partners, Ben Rosenzweig and Ryan Levenson, have been members of Hardinge’s Board of Directors since 2015 and 2016, respectively.

◦	Additional information regarding Privet is available on its website (www.privetfund.com).

•	Does Privet have its own Suppliers?

◦	No, this is the first machine tool company that Privet has owned.

◦	Privet does not yet own Hardinge. It is expected that all relationships will continue as they have been.

◦	Privet has not indicated that it expects to make changes to the Company, but has been supportive the Management team and its strategic plan.

◦	The management and its strategic plan are reasons Privet is interested in owning the Company.

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