Consolidated Statements of Cash Flow (GAAP) and Free Cash Flow (Non-GAAP)

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Free Cash Flow is defined as cash provided by (used in) operating activities less cash paid for purchases of property, plant and equipment and plus cash proceeds from sale of property, plant and equipment. Free Cash Flow as a Percentage of Net Income Attributable to Novanta, Inc. is defined as Free Cash Flow divided by Net Income Attributable to Novanta, Inc. Management believes these Non-GAAP measures are important indicators of the Company's liquidity as well as its ability to service its oustanding debt, and to fund future growth.

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