Quest Diagnostics — Jan 12, 2026 release

Any references to free cash flow refer to cash flow from operations less capital expenditures.           WHY WE EXIST PURPOSE The Quest Way STRATEGY HOW WE GROW CULTURE HOW WE WORK PURPOSE WHY WE EXIST Working together to create a healthier world, one life at a time STRATEGY HOW WE GROW We are connecting consumers and clinicians to innovative, affordable, and actionable insights that illuminate every person's path to better health, at every stage of life. CULTURE HOW WE WORK The 5Cs Customer first Care Collaboration Continuous improvement Curiosity         Quest Diagnostics is at the center of healthcare 50% US hospitals and physicians served annually 1/3 US adults served annually ~217M requisitions in 2024 ~8K patient access sites ~5K vehicles >90% of insured lives in the US >>80B patient data points >55K employees ~850 MDs/PhDs ~1,600 patents/patents pending Global including in Canada through LifeLabs         Our lab testing informs every stage of a person's health journey Risk evaluation What is my risk of getting a disease? Periodic screening How is my overall health? Diagnosis What is making me sick? Prognosis What direction wil my sickness take? Therapy selection What therapy is best for me? Therapy monitoring Is my therapy working? Follow-up care Is my success sustainable? Prevention and wellness testing Chronic disease and sick-care testing         Growing healthcare trends continue to favor Quest Demographic shifts- older, sicker population Innovations in lab diagnostics Greater adoption of AI and automation Consumer focus on prevention and wellness           We are well positioned in the nearly $90 billion US lab market Physician Channel $58B POL 11% Quest 12% Hospital Outreach 35% Other independent Labs 42% 2% - 4% CAGR 2024 Total US Lab Market $89B Physician 65% Hospital 35% 1% - 3% CAGR Hospital Channel $31B Quest 6% Other Ind Labs 14% Other Hospital 80% 1% - 2% CAGR           2024 Total Canadian Lab Market ~$5B LifeLabs 13% Community Labs 8% Hospital/Public Health 79% ~3%CAGR LifeLabs British Columbia Saskatchewan Ontario 41M people Leading provider of clinical laboratory testing in Canada Headquartered in Toronto 5 primary labs and 350 collection centers Strong growth opportunities in Canada Broadening access to lab services, including advanced diagnostics Expanding into new provinces Increasing consumer interest         Our strategy supports above-market growth in key channels Physicians 4% - 5% CAGR Capitalize on expanded health plan network access Extend geographic reach Serve as a partner of choice for large enterprise customers Hospitals 5% - 6% CAGR Deliver scaled reference testing Provide Collaborative Lab Solutions Expand in new geographies through outreach acquisitions High-growth areas >20% CAGR Grow consumer-initiated testing Support life sciences partners with testing and services Deliver data analytics insights Lead in advanced diagnostics through science and innovationDeliver a better customer experience and productivity improvements through technology Long-term outlook beyond 2025: 4% - 5% revenue CAGR and 7% - 9% adjusted EPS CAGR         Our unique strengths enable us to capitalize on physician market trends Physician employment trends CAGR Independent 35% 22% -11% Corporate entity 17% 23% +8% Health System 48% 55% +3% 2020 2024 Enterprise accounts Summit Health City MD Oak St. Health Optum Minute clinic duly Healthcare provider and executive needs Scaled, efficient diagnostic testing to alleviate staff burden and gain external expertise Reduced cost in testing capital and infrastructure--and minimized regulatory risks Access to technology,