March 10, 2009

Barclays Capital Global Healthcare Conference

Patients | Growth | People

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

History of Strong Growth

20%Revenue 1999-200810-year CAGR 20%

27%EPS* 1999-2008

10-year CAGR 27%

$ in billions except EPS*EPS is from continuing operations

Patients | Growth | People

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

Moving to Higher Growth,Higher Margin Testing Segments

2008 Revenue2000 Revenue

Total Revenue: $7.2 BillionTotal Revenue: $3.4 Billion

Patients | Growth | People

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• -

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2000 2009

Overall Market Leader/Niche LeadershipP Market Participant

Patients | Growth | People

Our Longer Term Goals

•Undisputed World Leader in Diagnostic Testing,Information and Services

•Profitably Grow > Industry Rate

•Expand Operating Income to 20% of Revenues

•Expand International Operations to ~10% of Revenues

Patients | Growth | People

Strategy to Drive Profitable Growth

Deliver Superior Patient Experience

Continuously Drive Six Sigma Quality

Lead in Medical Innovation

Leverage Unparalleled Assets & Capabilities

Expand Diagnostic Scope

Expand Geographic Reach

Leverage Capabilities To Create Differentiation

Sustainable Competitive Advantage

Patients | Growth | People

Patient Gold StandardsPrompt, caring, courteous service

PSC Appointment SchedulingFirst laboratory with PSC appointment schedulingReduces patient wait time; improves convenience

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

Delivering Superior Patient Experience

Patients | Growth | People

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

Continual Stream ofDiagnostic Testing Advances

CancerLeumetaTM

HE-4H/I Breast RecurrenceCancer of Unknown PrimarySeptin 9 Colorectal Cancer Test

Cardiovascular DiseaseIon Mobility (Lipid Profile)

Infectious DiseaseHepaScoreTM

Chikungunya

Transplantation/CoagulationHLA FDA-registered lab

Coag consultations

New Technologies/New ApplicationsXSenseTM (Fragile X)

ClarisureTM (CGH Microarray)

LC/MS for Amino Acids

LC-MS/MS

Italics – under development

Patients | Growth | People

Personalized and Targeted Medicineis an Emerging Opportunity

Enables More Appropriate Drug TherapyRituxan® Rituxan® Sensitivity (CD20)Herceptin® Her2Campath® Campath Sensitivity (CD2)Irinotecan UGT1A1Erbitux® RASWarfarin 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

Unparalleled Assets and Capabilities

2,300 Patient Service Centers and Laboratories900 MD’s and PhD’s 8,500 Phlebotomists &

5,000 Paramedical professionals3,500 Courier Vehicles and 25 Airplanes

- making 90,000 stops each day>140,000 Physician users of Care360POC testing in >100 Countries

Serving 50% of US Hospitals & Physicians

Testing ~1,000,000 Patients a Day through our Labs and POC Devices

Patients | Growth | People

Expanding Diagnostic ScopeNear Patient Testing

Attractive benefits for hospitals, physician offices, rural 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

Expanding Geographic Reach

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

Leverage existing labs in Puerto Rico, Mexico, and UK

Providing cervical cancer screening for Ireland NHS

Increase foreign testing sent to Nichols Institute

Entered India – serving multiple markets

Increasing Market Opportunity

Broadening Our Geographical Coverage

Patients | Growth | People

On Track to Reduce 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

$300 million savings run rate exiting 2008

Patients | Growth | People

2008 Results

Revenues $7.2 B, ↑ 8.1%

Operating Income 16.9%, ↑ 0.6%

EPS $3.23, ↑14%

Cash from Operations $1.1 Billion

Strong Growth in Revenue, Earnings and Cash Flow

Patients | Growth | People

2009 Guidance

Revenues ↑ ~3%

Operating Income % approaching 18%

EPS $3.50 - $3.70, ↑ 8% - 15%

Cash from Operations * ~$1 billion

CapEx ~$200 million

Continued Revenue & Earnings Growth

*Excludes expected payment of the $316 million reserve established for the previously disclosed NID matter

Strenghening our Leadership Position

Patients | Growth | People

Building on Strength

Leader in a vital and growing industry

Uniquely positioned with unparalleled assets & capabilities

History of disciplined growth and successful acquisitions

Strong cash generator, with a strong balance sheet

Proven management team

Focused on Execution

Patients | Growth | People