Varian Medical Systems Investor Presentation — April 2019

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Senior Vice President, Investor Relations

investors@varian.comApril 24, 2019Second Quarter

This presentation is intended exclusively for investors.

It is not intended for use in Sales or Marketing.

Forward -Looking Statements

Except forhistorical information, thispresentation contains forward -looking statements within themeaning ofthePrivate Securities Litigation Reform Actof1995 .Statements

concerning industry ormarket outlook, including growth drivers ;thecompany’s future orders, revenues, operating expenses, taxrate, cash flows, earnings growth orother financial

results ;andanystatements using theterms “could,” “believe,” “expect,” “promising,” “outlook,” “should,” “well-positioned,” “will” orsimilar statements areforward -looking statements

thatinvolve risks anduncertainties thatcould cause thecompany’s actual results todiffer materially from those anticipated .Such risks anduncertainties include ourability toachieve

expected synergies from acquisitions ;global economic conditions andchanges totrends forcancer treatment regionally ;currency exchange rates andtaxrates ;theimpact ofthe

TaxCuts andJobs Act;theimpact oftheAffordable Health Care forAmerica Act(including excise taxes onmedical devices) andanyfurther healthcare reforms (including changes

toMedicare andMedicaid), and/or changes inthird-party reimbursement levels ;new andpotential future tariffs oraglobal trade war;demand foranddelays indelivery ofthe

company’s products ;thecompany’s ability todevelop, commercialize and deploy new products ;thecompany’s ability tomeet Food and Drug Administration (FDA) and other

regulatory requirements, regulations orprocedures ;changes inregulatory environments ;thecompany’s assessment ofthegoodwill associated with itsproton solutions business,

risks associated with thecompany providing financing fortheconstruction and start-upoperations ofparticle therapy centers, challenges associated with commercializing the

company’s proton solutions business ;challenges topublic tender awards andthelossofsuch awards orother orders ;theeffect ofadverse publicity ;thecompany’s reliance onsole

orlimited -source suppliers ;thecompany’s ability tomaintain orincrease margins ;theimpact ofcompetitive products and pricing ;thecompany’s assessment ofthegoodwill

associated with itsproton solutions business ;thepotential loss ofkeydistributors orkeypersonnel ;andtheother risks listed from time totime inthecompany’s filings with the

Securities andExchange Commission, which bythisreference areincorporated herein .Thecompany assumes noobligation toupdate orrevise theforward -looking statements in

this presentation because ofnew information, future events, orotherwise .Reconciliations toGAAP financials can befound inour earnings press release at