UBS Global Life Sciences Conference

September 24, 2008

Patients | Growth | People

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Who is Quest Diagnostics?

•Leader in Providing Healthcare Insights and Solutions

• Comprehensive Diagnostic Testing• Routine ——» Esoteric

• Diagnose• Monitor• Predict• Prevent

–Advanced Information Technology Solutions• Improve Care and Efficiency

–Facilitate Introduction of New Therapeutics• Clinical Trials Testing

–Innovative Diagnostic Products• Enable Care Closer to the Patient

–Risk Assessment Solutions to Life Insurance Industry

Touching Patients ~150 Million Times Each Year

Patients | Growth | People

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The Leader in Diagnostic Testing

Source: Washington G-2 Reports and company information

$ in millions

• U.S. Diagnostic Testing Market: ~ $50 B

Patients | Growth | People

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Favorable Industry Trends

• Growing and Aging Population

• Scientific & Medical Innovations

• Personal Interest in Health

• Convergence of Information

Essential Healthcare Service

Influences >70% of Healthcare Decisions

Patients | Growth | People

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Moving to Higher Growth,Higher Margin Segments

2007 Pro Forma Revenue2000 Revenue

Total Pro Forma Revenue: $7.0 BillionTotal Revenue: $3.4 Billion

Patients | Growth | People

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Expanding Market Leadership

• Clinical Testing• Gene-based & Esoteric Testing• Employer Services• Anatomic Pathology Testing• Risk Assessment Services • Healthcare Information Technology• Point of Care (Near Patient) Testing• Clinical Trials Testing• International Market

•••• P• -• -• -• P• -

•••••••• P• P

2000 2008

Overall Market Leader/Niche LeadershipP Market Participant

Patients | Growth | People

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Our Goals

•Undisputed World Leader in Diagnostic Testing,Information and Services

•Profitably Grow > Industry Rate

•Expand Operating Income to 20%

•Expand International Operations to ~10% of Revenues

Patients | Growth | People

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Strategy to Drive Profitable Growth

Deliver Superior Patient Experience

Continuously Drive Six Sigma Quality

Lead in Medical Innovation/Information

Leverage Unparalleled Assets & Capabilities

Expand Diagnostic Scope

Expand Geographic Reach

Sustainable Competitive Advantage

Patients | Growth | People

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Patient Gold StandardsPrompt, caring, courteous service

PSC Appointment SchedulingOnly laboratory with appointment scheduling at PSCsReduces patient wait time; improves convenience

Google Health CollaborationFacilitate patient-physician communicationsSecure electronic access to lab results

Delivering Superior Patient Experience

Patients | Growth | People

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Leading Medical Innovator

Multiple Channels to Access New TechnologyInternal Development – Nichols InstituteJoint Development RelationshipsLicensing/Distribution Relationships

Focused on Addressing Areas of Significant Patient NeedCancer, Cardiovascular Conditions, Infectious DiseaseLess invasive; less painful; more convenient for patients

Leading Experts for Medical Consultation900 MDs & PhDs

Culture of Collaborative InnovationAcademic relationshipsInvestment in innovative firms and technologiesPartnerships with pharmaceutical companies

Patients | Growth | People

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Continual Stream ofDiagnostic Testing Advances

Cancer– LeumetaTM

– HE-4– H/I Breast Recurrence– Cancer of Unknown Primary

Cardiovascular Disease– Ion Mobility (Lipid Profile)

Infectious Disease– HepaScoreTM

– Chikungunya

Transplantation/Coagulation– HLA FDA-registered lab

– Coag consultations

New Technologies/New Applications– XSenseTM (Fragile X)

– ClarisureTM (CGH Microarray)

– LC/MS for Amino Acids

– LC-MS/MS

Personalized Medicine

Patients | Growth | People

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Enabling Personalized andTargeted Medicine

Enables More Appropriate Drug TherapyRituxan® Rituxan® Sensitivity (CD20)Herceptin® Her2Campath® Campath Sensitivity (CD2)Irinotecan UGT1A1Warfarin CYP450 2C9Carbamazephine HLA - screens out certain Asian patientsAbacavir HLA - predisposition to hypersensitivityAspirin Monitor personal resistance levels

Improves Disease ManagementLeumeta™ CellSearchHepascore™

Improving Patient Care …..Reducing Medical Costs

Patients | Growth | People

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Unparalleled Assets and Capabilities

Patients | Growth | People

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Unique Brands and Services forEach Customer Type

PhysiciansHospitalsEmployersInternational

Hospital LabHospital Bedside

HospitalPhysician

Pharmaceutical Companies

Physicians

Hospitals

Other provider groups

Point of care for:Hospitals PhysiciansBlood Banks

PhysicianHospital

Life Insurers

Patients | Growth | People

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Expanding Diagnostic ScopeNear Patient Testing

Attractive benefits for hospitals, physician offices and international markets

Enables more timely and effective decisions

Expanding product menu

Platform technology

Results integrated into Care360

Opportunity to Improve Patient Care

Reducing Medical Costs

Patients | Growth | People

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Expanding Geographic Reach

Clear leadership in U.S….with room to grow

Leverage existing labs in Puerto Rico, Mexico, and UK

Increase foreign testing sent to Nichols Institute

Exploit point of care distribution network in 130 countries

Entering India – serving multiple markets

Increasing Market Opportunity

Broadening Our Geographical Coverage

Patients | Growth | People

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India. . . An Untapped Opportunity

1 Billion People and Emerging Economic Power300 million people in middle classExpanding consumerism

Increased Incidence of Chronic DiseaseDiabetes: 17% (among the highest in the world)Hypertension: 51% of adultsHyperlipidemiaCancer: ~1 million new cases each yearInfectious diseases: 1000 deaths/day from Tuberculosis

Expanding interest in early detection, prevention and treatmentHighly fragmented diagnostic testing market

Patients | Growth | People

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Reducing Costs by $500 Million

Streamline Lab Operations

Optimize Logistics Routes and PSC Resources

Improve Billing and Call Center Operations

Leverage Purchasing Capabilities

Maintain Service Levels & Stimulate Growth

Leverage Lean Six Sigma to Improve Efficiency

Patients | Growth | People

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2008 Q2 YTD Results

Revenues $3.6 B, ↑ 14.4%

Operating Income 16.2%, ↑ 1.3%

EPS $1.55, ↑~21%

Cash from Operations $371 million

Investing to Drive Superior Growth

Returning to Earnings Growth

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2008 / 2009 Focus

• Drive Top-Line Growth

• Integrate AmeriPath

• Reduce Costs by $500 Million

• Expand International and Products Businesses

Excellence in Execution

Margin Expansion and Earnings Growth

Patients | Growth | People

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Building on Strength

Leader in a vital and growing industry

Strong cash generator, with a strong balance sheet

Uniquely positioned with unparalleled assets & capabilities

History of disciplined growth and successful acquisitions

Proven management team

Focused on Execution

Patients | Growth | People

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