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

Varian plans to separate into two great companies

Varian Medical

Systems

New Imaging

Components

Company

Why? Growing in different directions

Imaging / oncology business objectives & growth prospects

are moving in different directions

Global cancer

fighter

Global leader in

imaging

components

Fundamentally different businesses

Varian Medical

Equipment, Software & Service

Customers:

1000s of Healthcare Providers

Sales and Service in ~200 Countries

Cancer

Low-Volume Manufacturing

Varian Imaging

Components

Customers:

100s of Imaging Equipment Makers

Sales/Service in ~20 Countries

Medical, Industrial & Security

High-Volume Manufacturing

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

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

New imaging company

• X-ray tubes & flat panel products

• Claymount connectors and accessories

• Software

o Image processing

o MeVis computer-aided disease protection

• Security & Inspection products

• Customers

o Imaging equipment manufacturers & system integrators

• Markets

o Medical diagnostics, dentistry, veterinary care, security & industrial inspection industries

A leading global supplier of components, software & engineering services

Imaging Company’s Growth Directions

+

Digitization of

Radiology

X-ray in industrial

applications

70 years X-ray

innovation …

200+ patents

Leader in

X-ray

components

Leading

position in

scale & cost

structure

Revenue

growth

New company CEO & CFO

Sunny Sanyal

Chief Executive Officer

Clarence Verhoef

Chief Financial Officer

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

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

Our growth strategies are the same

Go Global

Build Software & Services

Innovate

Commercialize Protons

Operational Excellence

Increase Revenues

Strengthen Profitability

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

Lancet Recommendations Call to Action / LMIC Target

By 2020 80% of

countries should

have cancer plans

that include

radiotherapy.

Population Based

Cancer Control

Plans

25% increase

in RT capacity

from 2015 to

2025.

Expansion of

Access to

Radiotherapy

$46B of investment

by 2025 to establish

radiotherapy

infrastructure and

training in LMIC.

Sustainable

Financing to

Expand Access to

Radiotherapy

80% of LMIC to

include RT services as

part of universal health

coverage by 2020.

Align Radiotherapy

Access with Universal

Health Coverage

The Next Big Milestone –

High Definition Radiotherapy

Treatment Ideal:

100% of dose to the tumor; 0% to healthy tissue.

INTELLIGENT TREATMENT DELIVERY:

Works in Progress

4π Dose Compression for Lung SBRT

INTELLIGENT TREATMENT DELIVERY:

IMRT

PATIENT 1

PATIENT 2

VMAT HDRS

64 Gy

15 Gy

Courtesy of Ke Sheng, UCLA

Expanding Software Offerings

New Data Analytic Tools

RapidPlanTM

Insightive AnalyticsTM

VelocityTM

QuumulateTM

Infor™ interoperability

EPIC, Cerner, McKesson

Cloud-based offering with SaaS model

ADVANCED DATA ANALYTICS

ADVANCED DATA ANALYTICS:

Iterative CBCT Gaining Clarity

A game changer!

Now we can see soft tissue!

Affordable, quality, real-time alternative

to MR imaging

TrueBeam platform upgrade

~1,200 current installs

INTELLIGENT TREATMENT DELIVERY:

TrueBeam 2.0Iterative CBCT

Works in Progress

Oncology Growth Platforms

Largest installed base >7,300

$1B in recurring service revenue

Winning product portfolio

Software – data analytics

Demographics increasing need

Building Momentum

Varian Particle Therapy

Number of

treatment rooms

to increase by

over 4x

Proton Therapy World Market Report (Edition 2015), MEDraysintell.

Patients Treated to 2030

22 | VARIAN PARTICLE THERAPY

Hitachi - 3

IBA - 17

ProNova - 4

Varian - 22

Sumitomo - 1

2015 Treatment Rooms Ordered

Varian Establishing Market Leadership Position

23 | VARIAN PARTICLE THERAPY

Varian Projects Overview

SCRIPPS PT CENTER3 Gantries and 2 Fixed Beam Rooms

KFMC-KING FAHD MEDICAL CENTER3 Gantries and 1 Fixed Beam Room & 1Eye Tx

UNIVERSITY OF MARYLAND4 Gantries and 1 Fixed Beam Room

GEORGIA PT CENTER (EMORY)4 Gantries and 1 Fixed Beam Room

PTC ST PETERSBURG, RUSSIA2 Gantries

RINECKER PROTON THERAPY CENTER4 Gantries and 1 Fixed Beam Room

UT SOUTHWESTERN MEDICAL CENTER4 Gantries and 1 Fixed Beam Room

CINCINNATI CHILDREN’S HOSPITAL3 Gantries

PAUL SCHERRER INSTITUTE (PSI)1 Gantry

NATIONAL TAIWAN UNIVERSITY

2 Gantries and 1 Fixed Beam Room

AARHUS PTC - DENMARK2 Gantries

UK PROTON THERAPY CENTERSUCLH London - 3 Gantries

The Christie Hospital, Manchester - 3 Gantries

HOLLAND PTC2 Gantries and 1 Fixed Beam Room

NEW YORK PTC

3 Gantries and 1 Fixed Beam Room

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

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