Our Vision: To Help Save Millions of Lives Every Year, Around the World

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1 Our Vision: To Help Save Millions of Lives Every Year, Around the World

2 Varian plans to separate into two great companies Varian Medical Systems New Imaging Components Company

3 Why? Growing in different directions Imaging / oncology business objectives & growth prospects are moving in different directions Global cancer fighter Global leader in imaging components

4 Fundamentally different businesses Varian Medical Equipment, Software & Service Customers: 1000s of Healthcare Providers Sales and Service in ~200 Countries Cancer Varian Imaging Components Customers: 100s of Imaging Equipment Makers Sales/Service in ~20 Countries Medical, Industrial & Security Low-Volume Manufacturing High-Volume Manufacturing

5 We did it before; we can do it again VMS is the product of a successful spin in 1999 that delivered: o New products & technologies for customers o New opportunities for employees o Great results for each business and for investors

6 New imaging company New name coming Annual revenues ~$575M ~1,300 employees globally HQ: Salt Lake City Manufacturing: o U.S. o China o Philippines o Netherlands o Germany

7 New imaging company A leading global supplier of components, software & engineering services X-ray tubes & flat panel products Claymount connectors and accessories Software o o Image processing MeVis computer-aided disease protection Security & Inspection products Customers o Markets o Imaging equipment manufacturers & system integrators Medical diagnostics, dentistry, veterinary care, security & industrial inspection industries

8 Imaging Company s Growth Directions 70 years X-ray innovation 200+ patents Leader in X-ray components + Digitization of Radiology X-ray in industrial applications Revenue growth Leading position in scale & cost structure

9 New company CEO & CFO Sunny Sanyal Chief Executive Officer Clarence Verhoef Chief Financial Officer

10 Varian Medical Systems One of world s largest medical device companies focused on cancer treatment o Oncology Systems o Particle Therapy Equipment, software and services CEO Dow Wilson

11 The new Varian Continues as VMS HQ: Palo Alto ~$2.5B annual revenues ~6,000 employees around the globe Leadership team remains the same Manufacturing, service & training facilities o Brazil, China, England, Finland, Germany, India, Japan, Switzerland, US Our objective: long-term, healthy growth

12 Our growth strategies are the same Go Global Build Software & Services Innovate Increase Revenues Commercialize Protons Operational Excellence Strengthen Profitability

13 Oncology Systems Market Environment Growing global cancer burden Economic driven healthcare transformation move to affordable, accessible, quality care Expansion, investment in emerging & frontier markets Modernization, replacements in developed markets Service opportunity

14 Lancet Recommendations Call to Action / LMIC Target Population Based Cancer Control Plans Expansion of Access to Radiotherapy Sustainable Financing to Expand Access to Radiotherapy Align Radiotherapy Access with Universal Health Coverage By % of countries should have cancer plans that include radiotherapy. 25% increase in RT capacity from 2015 to $46B of investment by 2025 to establish radiotherapy infrastructure and training in LMIC. 80% of LMIC to include RT services as part of universal health coverage by 2020.

15 INTELLIGENT TREATMENT DELIVERY: The Next Big Milestone High Definition Radiotherapy Treatment Ideal: 100% of dose to the tumor; 0% to healthy tissue. Works in Progress

16 INTELLIGENT TREATMENT DELIVERY: 4π Dose Compression for Lung SBRT 64 Gy PATIENT 1 PATIENT 2 15 Gy IMRT VMAT HDRS Courtesy of Ke Sheng, UCLA

17 ADVANCED DATA ANALYTICS: Expanding Software Offerings New Data Analytic Tools RapidPlan TM Insightive Analytics TM Velocity TM Quumulate TM Infor interoperability EPIC, Cerner, McKesson Cloud-based offering with SaaS model ADVANCED DATA ANALYTICS

18 INTELLIGENT TREATMENT DELIVERY: Iterative CBCT Gaining Clarity Iterative TrueBeam CBCT 2.0 A game changer! Now we can see soft tissue! Affordable, quality, real-time alternative to MR imaging TrueBeam platform upgrade ~1,200 current installs Works in Progress

19 Oncology Growth Platforms Largest installed base >7,300 $1B in recurring service revenue Winning product portfolio Software data analytics Demographics increasing need

20 Varian Particle Therapy Building Momentum

21 Patients Treated to 2030 Number of treatment rooms to increase by over 4x Proton Therapy World Market Report (Edition 2015), MEDraysintell.

22 Hitachi - 3 Varian - 22 IBA Treatment Rooms Ordered Varian Establishing Market Leadership Position ProNova - 4 Sumitomo VARIAN PARTICLE THERAPY

23 Varian Projects Overview RINECKER PROTON THERAPY CENTER 4 Gantries and 1 Fixed Beam Room SCRIPPS PT CENTER 3 Gantries and 2 Fixed Beam Rooms UNIVERSITY OF MARYLAND 4 Gantries and 1 Fixed Beam Room KFMC-KING FAHD MEDICAL CENTER 3 Gantries and 1 Fixed Beam Room & 1Eye Tx GEORGIA PT CENTER (EMORY) 4 Gantries and 1 Fixed Beam Room PTC ST PETERSBURG, RUSSIA 2 Gantries UT SOUTHWESTERN MEDICAL CENTER 4 Gantries and 1 Fixed Beam Room CINCINNATI CHILDREN S HOSPITAL 3 Gantries PAUL SCHERRER INSTITUTE (PSI) 1 Gantry UK PROTON THERAPY CENTERS UCLH London - 3 Gantries The Christie Hospital, Manchester - 3 Gantries AARHUS PTC - DENMARK 2 Gantries NATIONAL TAIWAN UNIVERSITY 2 Gantries and 1 Fixed Beam Room HOLLAND PTC 2 Gantries and 1 Fixed Beam Room NEW YORK PTC 3 Gantries and 1 Fixed Beam Room 23 VARIAN PARTICLE THERAPY

24 Why We re Winning Precision IMPT with Pencil-Beam Scanning Fastest Patient Throughput Varian Best in Class Oncology Product Suite Eclipse treatment planning ARIA OIS, data analytics Cone Beam CT Imaging/motion management Commitment to Innovation, Integration

25 Investment Summary (NYSE: VAR) Market and technology leader Radiation Oncology Particle Therapy Favorable demographic/economic/technical trends Comprehensive product portfolio and good pipeline >$1B recurring revenues from service and software Strong balance sheet, cash flow, stock buy backs

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