Waters Corporation Investor Presentation — November 2021

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November 2, 2021Q3 2021 Earnings Call Presentation2 ©2021 Waters Corporation

Forward -Looking Statements & Non-GAAP Financial Measures

This presentation contains forward- looking statements regarding future results and events, including financial guidance and proj ected estimates. For this

purpose, any statements that are not statements of historical fact may be deemed forward -looking statements. Words such as “may, ” “will,” “expect,” “plan,”

“anticipate,” “estimate,” “intend” and similar expressions (as well as other words or expressions referencing future events, conditions or circumstances) are

intended to identify forward- looking statements. These forward- looking statements may include statements regarding future operat ing and financial

performance, market growth and customer trends. Forward -looking statements in this presentation are based on Waters’ expectations and assumptions as

of the date of this presentation and are neither predictions nor guarantees of future events or performance. You should not plac e 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. Each of these forward -looking statements involves risks and uncertainties, and actual results may differ

materially from such forward- looking statements. We discuss various factors that may cause Waters actual results to differ from those expressed or implied

in the forward -looking statements in this presentation, including those relating to the impact on Waters’ operating results throughout the Company’s various

market sectors or geographies from economic, regulatory, sovereign and political uncertainties as well as the impact of the ongoing COVID -19 pandemic,

in the sections entitled “Forward- Looking Statements,”, “Management’s Discussion and Analysis of Financial Condition and Results of Operations”, and

“Risk Factors” of the Company’s Annual Report on Form 10- K for the year ended December 31, 2020 as filed with the Securities and Exchange

Commission (“SEC”) on February 24, 2021, as updated by the Company’s subsequent filings with the SEC. Except as required by l aw,Waters does not

assume any obligation to update or revise any forward -looking statements, whether as a result of new information, future events, or otherwise.

To supplement the Company’s financial statements presented on a GAAP basis, the Company has provided certain non -GAAP financial measures, such as

constant currency revenue and non -GAAP earning per diluted share. Management uses these non -GAAP measures to evaluate the Compan y’s operating