Waters Corporation Investor Presentation — May 2018

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Waters Corporation Management Presentation

©2018 Waters Corporation This presentation may contain “forward-looking” statements regarding future results and events. For this purpose, any statements that are not statements of historical

fact may be deemed forward-looking statements. Without limiting the foregoing, the words, “may”, will”, “should”, “feels”, “beli eves”, “anticipates”, “plans”, “expects”,

“intends”, “suggests”, “appears”, “estimates”, “projects”, and similar expressions, whether in the negative or affirmative, are intended to identify forward-looking

Forward -looking statements are based on current expectations and assumptions and currently available data, and are neither predi ctions nor guarantees of future

events or performance. You should not place undue reliance on forward-looking statements, which speak only as of the date hereof and should not be relied upon as

representing the Company’s estimates or views as of any date subsequent to the date of this presentation. We do not undertake to update or revise any forward-looking

statements after they are made, whether as a result of new information, future events, or otherwise, except as required by appli cable law. The Company’s actual future

results may differ significantly from the results discussed in the forward-looking statements within this presentation for a var iety of reasons, including and without

limitation, foreign exchange rate fluctuations potentially affecting translation of the Company’s future non-U.S. operating results; the impact on demand among the

Company’s various market sectors from economic, sovereign and political uncertainties; the effect on the Company’s financial results from the United Kingdom voting to

exit the European Union; fluctuations in expenditures by the Company’s customers, in particular large pharmaceutical companies; introduction of competing products by

other companies and loss of market share; pressures on prices from competitors and/or customers; regulatory, economic and com petitive obstacles to new product

introductions; other changes in demand from the effect of mergers and acquisitions by the Company’s customers; increased regulat ory burdens as the Company’s

business evolves, especially with respect to the U.S. Food and Drug Administration and U.S. Environmental Protection Agency, among others; impact of the newly

enacted tax reform in the United States; shifts in taxable income in jurisdictions with different effective tax rates; the outcome of tax examinations or changes in

respective country legislation affecting the Company’s effective tax rate; the effect of the adoption of new accounting standard s; the ability to access capital, maintain