Safe Harbor and Non-GAAP Measures

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2 Safe Harbor and Non-GAAP Measures Forward-Looking Statements This presentation contains forward-looking statements. All statements other than statements of historical fact included in this presentation are forward-looking statements. Forward-looking statements discuss our current expectations and projections relating to our financial condition, results of operations, plans, objectives, future performance and business. These statements may be preceded by, followed by or include the words aim, anticipate, believe, estimate, expect, forecast, intend, likely, outlook, plan, potential, projection, continue, goal, objective, opportunity, near-term, long-term, assumption, project, guidance, target, trend, seek, can, could, may, should, would, will, the negatives thereof and other words and terms of similar meaning. Forward-looking statements are inherently subject to risks, uncertainties and assumptions; they are not guarantees of performance. You should not place undue reliance on these statements. We have based these forward-looking statements on our current expectations and projections about future events. Although we believe that our assumptions made in connection with the forward-looking statements are reasonable, we cannot assure you that the assumptions and expectations will prove to be correct. Factors that could contribute to these risks, uncertainties and assumptions include, but are not limited to, the factors described in Risk Factors in our 10-K. All forward-looking statements attributable to us or persons acting on our behalf are expressly qualified in their entirety by the foregoing cautionary statements. In addition, all forward-looking statements speak only as of the date of this presentation. We undertake no obligations to update or revise publicly any forward-looking statements, whether as a result of new information, future events or otherwise other than as required under the federal securities laws. Non-GAAP Measures To evaluate our performance, we monitor a number of key indicators at the consolidated level and, in certain cases, at the segment level. As appropriate, we supplement our results of operations determined in accordance with U.S. generally accepted accounting principles ( GAAP ) with certain non-gaap financial measurements that are used my management, and which we believe are useful to investors, as supplemental operational measurements to evaluate our financial performance. These measurements should not be considered in isolation or as a substitute for reported GAAP results because they may include or exclude certain items as compared to similar GAAPbased measurements, and such measurements may not be comparable to similarly-titled measurements reported by other companies. Rather, these measurements should be considered as an additional way of viewing aspects of our operations that provide a more complete understanding of our business. We strongly encourage investors to review our consolidated financial statements in their entirety and not rely solely on any one, single financial measurement. See Use of Non-GAAP Financial Measures in our press release issued today. A reconciliation of non-gaap measures can be found at the back of the deck. 2 2

3 1Q17 Results Agenda Overview Manuel Brocke-Benz President & CEO Financials & Outlook Greg Cowan SVP & CFO Business Highlights Manuel Brocke-Benz President & CEO 3

4 1Q17 Results Overview Manuel Brocke-Benz President & CEO 4

5 1Q17 Performance Summary 3n 4.3% organic growth: above our long-term expectation of 3-4% annual organic growth Americas 1.7% & EMEA-APAC 8.4% organic growth Interest expense $18.7M vs. $19.2M in 1Q16 Leverage of 4.1x/3.9x proforma for acquisitions Acquired Seastar, EPL & MESM Operating Cash Flow of $66.5M vs. $42.0M in 1Q16 Adjusted EPS of $0.44, up 10% YoY 5 5

6 1Q17 EMEA-APAC 8.4% Organic Revenue Growth Revenues ($M) Revenues increased 3.4% on a reported basis. Currency reduced reported revenues by 4.8%. $432 $446 1Q16 1Q17 1Q17 organic revenue growth 8.4% Acquisitions increased revenues by 0.4%. Disposition of Aus/NZ reduced revenues 0.5%. OI ($M) $36 $40 1Q17 OI increased $3.3M YoY 1Q17 OI impacted by restructuring of $4.8M and favorable earn-out adjustment of $1.7M Excluding these items & amortization, 1Q17 adj. OI was $49.1M, up $6.2M vs. 1Q16 1Q16 1Q17 6 6

7 1Q17 EMEA-APAC Customer Segment Biopharma Healthcare Education Government Industrial Revenues by Product Consumables Chemicals Equip. & Instruments % Chg. +HSD +MSD +MSD +HSD +DD % Chg. +HSD +DD +MSD 7

8 1Q17 Americas Improving Organic Growth Revenues ($M) $667 $693 Americas revenues increased 3.9% 1Q17 revenues increased 1.7% on an organic basis 1.9% contribution from acquisitions 0.3% favorable impact from foreign currency 1Q16 1Q17 1Q17 OI $41.9M vs. $43.4M in 1Q16 $43 OI ($M) $42 OI Margin down 50bps due to timing of manufacturing orders, $0.9M restructuring expense & $1.9M step up inventory adjustment in 1Q17. Adjusted OI (excluding amortization and other items) increased $1.7M YoY 1Q16 1Q17 8 8

9 1Q17 Americas Improving Organic Rev Growth Customer Segment Biopharma Healthcare Education Government Industrial % Chg. +LSD +MSD +MSD +LSD +MSD Revenues by Product Consumables Chemicals Equip. & Instruments % Chg. +LSD +HSD -LSD 9 9

10 1Q17 Results Financials & Outlook Greg Cowan SVP & CFO 10

11 1Q17 P&L ($M, except per share amounts) 1Q17 1Q16 % Chg. Net Sales $1,140.5 $1,139.1 $1, % 3.7% Cost of Goods Sold % 4.0% Gross Profit % 2.9% SG&A % 3.2% Operating Income % 2.3% Interest (18.7) (19.2) Other (0.7) (0.6) Pre-Tax Income Tax (22.4) (23.6) (21.1) Net Income $41.6 $38.5 $38.8 Diluted EPS $0.32 $0.29 $0.29 Non-GAAP Adjusted EPS $0.44 $ % 11

12 Selected Cash Flow Information ($M) 1Q17 1Q16 Cash From Operations $66.5 $42.0 Capital Expenditures $13.2 $

13 Deleveraging Net Debt / LTM Adjusted EBITDA 9.3x 8.4x 7.7x 7.1x 6.4x 6.9x 6.4x 4.4x 4.1x 3.8x 4.1x FY07 FY08 FY09 FY10 FY11 FY12 FY13 FY14 FY15 FY16 Mar

14 Acquisition Strategy Building Out Three Key Platforms Custom Manufacturing Chemicals Platform Seastar (Jan '17) Reliable (Nov '16) BioArra (Nov '16) PTI (Oct '15) Hichrom (May '15) NBC (Feb'15) Clinical Trials Support Platform MESM (Apr '17) EPL Archives (Mar '17) Therapak (Jan '16) Bioprocessing Platform PAW Bioscience (Jul '16) JM Separations (Jun '16) STI (Nov '14) Integra (Nov '14) 14 14

15 Since Oct 2014 IPO, VWR has invested $500 million in M&A 3n Each platform expected to achieve targeted financial results Expected returns: mid-teens in the mid-long term Ongoing integrations on track 15 15

16 1Q17 Results Business Highlights Manuel Brocke-Benz President & CEO 16

17 End to End Solutions for Clinical Trials & Development Customers Specialist Equipment Pre-shipment Configuration Supply Chain Management Custom Kit Assembly Compliant Solutions NEEDS Secure Storage Solutions Rapid Access to Stored NEEDS Materials Lifecycle Sample Management TO SOLUTIONS MESM - Clinical Trials Ancillary/Equip Supplies Therapak - Kitting VWR Legacy Clinical Trials & Kitting EPL Archives 17

18 Acquisition Update - EPL A leading global archive and biorepository services company Providing secure, long term preservation and management of regulated product material including research samples, data, non-clinical specimens, clinical samples and manufactured material storage Serving over 90% of the Top 50 pharma companies 1.5 million cubic feet using specialized equipment and proprietary materials management software Decades of regulatory (FDA, EPA, DEA, OECD) experience 18

19 Acquisition Update - MESM A leading services company that sources, services and supplies equipment and ancillary consumables for the clinical trial industry Expertise in supporting oncology, diabetes, cardiology, respiratory and hematology trials Sourcing products to protocol specifications for purchase/rental Laboratory clinical equipment and consumables 19

20 The VWR Growth Story Remains On-Track 1Q17 Americas: Improving Organic Growth 1Q17 EMEA-APAC: Solid top and bottom-line growth Leveraging our platform, providing differentiated services and driving value for our customers Executing a value creating acquisition strategy Strengthening our balance sheet and deleveraging 1Q17 Another data point that indicates that the VWR growth story remains on-track 20

21 Non-GAAP Reconciliation Adjusted EBITDA ($ in millions, except per share amounts) Reconciliation of net income, as adjusted FY12 FY13 FY14 FY15 1Q16 2Q16 3Q16 4Q16 FY16 1Q17 Net income $ 3.8 $ 14.1 $ $ $ 38.8 $ 41.8 $ 40.6 $ 27.0 $ $ 38.5 Amortization of acquired intangible assets Net foreign currency remeasurement loss (gain) from financing activities (90.9) (45.4) 0.6 (0.1) Restructuring Legacy facility exit charges Impairment charges Gain on disposition of business - - (11.1) Loss on extinguishment of debt Charges associated with executive departures Secondary equity offering costs (Income) loss from changes to estimated fair value of contingent consideration (1.3) - - (1.1) (1.7) Purchase accounting adjustments** Income tax (benefit) provision applicable to adjustments, net (55.4) (57.3) 2.4 (26.7) (7.8) (7.5) (8.2) (12.6) (36.1) (9.6) Deferred tax rate change related to amortizable intangible assets (4.5) Net income, as adjusted* $ $ $ $ $ 53.2 $ 55.9 $ 58.1 $ 58.9 $ $ 57.8 Reconciliation of Adjusted EBITDA FY12 FY13 FY14 FY15 1Q16 2Q16 3Q16 4Q16 FY16 1Q17 Net income, as adjusted* $ $ $ $ $ 53.2 $ 55.9 $ 58.1 $ 58.9 $ $ 57.8 Interest expense Depreciation expense Share-based compensation expense Income tax provision applicable to net income, as adjusted Adjusted EBITDA $ $ $ $ $ $ $ $ $ $ Adjusted EBITDA Margin 9.7% 10.0% 10.3% 10.6% 10.2% 10.4% 10.8% 11.2% 10.7% 10.9% * Net income, as adjusted and Adjusted EPS include share-based compensation expense. ** Purchase accounting adjustments include acquisition related inventory step-up charges to cost of goods sold. 21

22 Non-GAAP Reconciliation Adjusted EPS (shares in millions) Reconciliation of diluted earnings per share to Adjusted EPS FY12 FY13 FY14 FY15 1Q16 2Q16 3Q16 4Q16 FY16 1Q17 Diluted earnings per share (GAAP) $ (417.00) $ (338.00) $ 2.49 $ 1.17 $ 0.29 $ 0.32 $ 0.31 $ 0.20 $ 1.12 $ 0.29 Recapitalization, IPO and related effects (1.33) Amortization of acquired intangible assets Net foreign currency remeasurement loss (gain) from financing activities (0.69) (0.34) Restructuring Legacy facility exit charges Impairment charges Gain on disposition of business - - (0.08) Loss on extinguishment of debt Charges associated with executive departures Secondary equity offering costs (Income) loss from changes to estimated fair value of contingent consideration (0.01) - - (0.01) (0.01) Purchase accounting adjustments Income tax (benefit) provision applicable to adjustments, net (0.42) (0.44) 0.02 (0.20) (0.06) (0.06) (0.06) (0.10) (0.27) (0.07) Deferred tax rate change related to amortizable intangible assets (0.03) Adjusted EPS (non-gaap) $ 0.77 $ 0.94 $ 1.20 $ 1.52 $ 0.40 $ 0.42 $ 0.44 $ 0.45 $ 1.72 $ 0.44 Adjusted weighted average shares outstanding * Calculated result may not foot/cross-foot due to rounding. 22

23 Non-GAAP Reconciliation Leverage & FCF (dollars in millions) Reconciliation of Net Debt and Net Leverage FY12 FY13 FY14 FY15 1Q16 2Q16 3Q16 4Q16 FY16 1Q17 Debt** $ 3,148.6 $ 2,854.4 $ 2,111.9 $ 1,989.0 $ 2,108.1 $ 2,024.9 $ 2,017.6 $ 2,017.0 $ 2,017.0 $ 2,181.0 Less: Cash and cash equivalents (139.8) (135.6) (118.0) (136.3) (129.7) (112.9) (141.7) (168.7) (168.7) (141.5) Compensating cash balance (246.9) (25.9) (2.5) Net Debt $ 2,761.9 $ 2,692.9 $ 1,991.4 $ 1,852.7 $ 1,978.4 $ 1,912.0 $ 1,875.9 $ 1,848.3 $ 1,848.3 $ 2,039.5 Trailing twelve month Adjusted EBITDA $ $ $ $ $ $ $ $ $ $ Net Leverage 6.9x 6.4x 4.4x 4.1x 4.3x 4.1x 3.9x 3.8x 3.8x 4.1x Cash Flow Details FY12 FY13 FY14 FY15 1Q16 2Q16 3Q16 4Q16 FY16 1Q17 Cash flow from operations $ 34.7 $ $ $ $ 42.0 $ 77.6 $ 66.5 $ 80.1 $ $ 66.5 Cash flow from investing (160.9) (89.5) (123.0) (97.9) (43.2) (31.6) (31.5) (96.4) (202.7) (170.1) Cash flow from financing 98.3 (117.9) (71.8) (96.1) (10.3) (60.4) (7.5) 51.4 (26.8) 74.5 Reconciliation of Free Cash Flow FY12 FY13 FY14 FY15 1Q16 2Q16 3Q16 4Q16 FY16 1Q17 Cash flow from operations $ 34.7 $ $ $ $ 42.0 $ 77.6 $ 66.5 $ 80.1 $ $ 66.5 Less: capital expenditures (51.8) (45.3) (33.6) (40.9) (14.3) (15.5) (15.7) (14.4) (59.9) (13.2) Free Cash Flow $ (17.1) $ $ $ $ 27.7 $ 62.1 $ 50.8 $ 65.7 $ $ 53.3 ** As of December 31, 2015, the Company adopted a new accounting standard which changed the presentation of deferred debt issuance costs on our balance sheet as a reduction to debt instead of as a component of other assets. In this table, we have not revised the reported amount of debt for any periods prior to the adoption. For reference, the relevant amount of deferred debt issuance costs as of December 31, 2014 was $11.7 million. 23

24 Non-GAAP Reconciliation Adjusted OI (dollars in millions) Americas FY15 1Q16 2Q16 3Q16 4Q16 FY16 1Q17 Operating Income $ $ 43.4 $ 43.6 $ 47.2 $ 40.7 $ $ 41.9 Adjustments: Amortization of acquired intangible assets Restructuring Legacy facility exit charges Secondary equity offering costs (Income) loss from changes to estimated fair value of contingent consideration (0.9) Purchase accounting adjustments Americas Non-GAAP Operating Income $ $ 58.4 $ 58.4 $ 65.7 $ 57.8 $ $ 60.1 EMEA-APAC FY15 1Q16 2Q16 3Q16 4Q16 FY16 1Q17 Operating Income $ $ 36.3 $ 41.0 $ 36.0 $ 27.4 $ $ 39.6 Adjustments: Amortization of acquired intangible assets Restructuring Impairment charges (Income) loss from changes to estimated fair value of contingent consideration (0.2) (1.7) EMEA-APAC Non-GAAP Operating Income $ $ 42.9 $ 47.9 $ 42.8 $ 53.7 $ $ 49.1 Consolidated FY15 1Q16 2Q16 3Q16 4Q16 FY16 1Q17 Operating Income $ $ 79.7 $ 84.6 $ 83.2 $ 68.1 $ $ 81.5 Adjustments: Amortization of acquired intangible assets Restructuring Legacy facility exit charges Impairment charges Secondary equity offering costs (Income) loss from changes to estimated fair value of contingent consideration (1.1) (1.7) Purchase accounting adjustments Consolidated Non-GAAP Operating Income $ $ $ $ $ $ $

25 VWR Investor Contact John Sweeney, CFA VP Investor Relations Phone: (610)