Safe Harbor and Non-GAAP Measures

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2 Safe Harbor and Non-GAAP Measures Forward-Looking Statements This presentation contains statements about future events and expectations that constitute forward-looking statements. Forward-looking statements are based on our beliefs, assumptions and expectations of our future financial and operating performance and growth plans, taking into account the information currently available to us. These statements are not statements of historical fact. Forward-looking statements involve risks and uncertainties that may cause our actual results to differ materially from the expectations of future results we express or imply in any forward-looking statements and you should not place undue reliance on such statements. Factors that could contribute to these differences include, but are not limited to, the factors described in Risk Factors in VWR s Annual Report on Form 10- K. Words such as "anticipates, "believes, "continues, "estimates, "expects, "goal, "objectives, "intends, "may, "opportunity, "plans, "potential, "near-term, "long-term, "projections, "assumptions, "projects, "guidance, "forecasts, "outlook, "target, "trends, "should, "could, "would, "will, and similar expressions are intended to identify such forward-looking statements. We qualify any forward-looking statements entirely by these cautionary factors. We assume no obligation to update or revise any forward-looking statements for any reason, or to update the reasons actual results could differ materially from those anticipated in these forward-looking statements, even if new information becomes available in the future. Comparisons of results for current and any prior periods are not intended to express any future trends or indications of future performance, unless expressed as such, and should only be viewed as historical data. 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 we believe are useful to investors, creditors and others in assessing our 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 GAAP-based 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 readers to review our consolidated financial statements in our publicly filed reports 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. 2

3 1Q16 Earnings Call Agenda Introduction John Sweeney VP, Investor Relations Overview Manuel Brocke-Benz President & CEO Financials & Outlook Greg Cowan SVP & CFO Business Highlights Manuel Brocke-Benz President & CEO Q&A 3

4 1Q16 Earnings Call Overview Manuel Brocke-Benz President & CEO 4

5 1Q16 Performance Summary Revenue ($B) Adjusted EPS ($) $1.03 $1.10 $0.33 $0.40 1Q15 1Q16 1Q15 1Q16 1Q16 reported revenues $1.10B, up 6.7% YoY. Strengthening of the U.S. dollar reduced revenues by 1.9% Organic revenue growth: consolidated up 6.0%, Americas up 7.6% and EMEA-APAC up 3.6% Interest expense of $19.2M, down $8.0M vs. prior year Adjusted EPS grew 21.2% YoY to $0.40 Cash flow from operating activities of $42M vs. ($9.9M) in 1Q15 5 5

6 1Q16 EMEA-APAC Consistent Growth Revenues ($M) $424 $432 1Q15 1Q16 Revenues increased 1.7% on a reported basis. Strengthening of the US$ reduced EMEA-APAC revenues 1Q16 organic revenue growth 3.6% 1.2% contribution from acquisitions (3.0)% negative impact from currency OI ($M) OI impacted by incentive compensation accrual driven by strong start to 2016 & timing of Easter 1Q16 reported OI of $36.3M 1Q16 OI margin of 8.4%, down 60 bps YoY $38 $36 1Q15 1Q16 6 6

7 1Q16 EMEA-APAC Biopharma Drives Growth Customer Segment Biopharma Healthcare Education Government Industrial Revenues by Product Consumables Chemicals Equip. & Instruments Growth +HSD +MSD -MSD -MSD +MSD Growth +MSD +LSD +LSD 7

8 1Q16 Americas Record Organic Growth Revenues ($M) $605 $667 Americas revenues driven by double-digit growth in Biopharma & Government 1Q16 revenues up 10.1% & up 7.6% organic 3.6% contribution from acquisitions (1.1)% impact from foreign currency 1Q15 $36 OI ($M) 1Q16 $43 Operating income increased $7.7 million yearover-year 1Q16 Operating income increased 21.6% as compared to prior year 1Q16 OI margin of 6.5%, up 60 bps vs. prior year 1Q15 1Q16 8 8

9 1Q16 Americas Biopharma & Government +DD Customer Segment Biopharma Healthcare Education Government Industrial Revenues by Product Consumables Chemicals Equip. & Instruments Growth +DD +MSD Flat +DD +MSD Growth +MSD +DD +DD 9

10 1Q16 Earnings Call Financials & Outlook Greg Cowan SVP & CFO 10

11 1Q16 P&L ($M, except EPS) 1Q16 1Q15 % chg. Net Sales $1,098.3 $1, % Cost of Goods Sold % Gross Profit % SG&A % Operating Income % Interest (19.2) (27.2) -29.4% Other (0.6) 68.5 Pre-Tax Income Tax (21.1) (43.6) Net Income $38.8 $71.5 Non-GAAP Adjusted EPS $0.40 $ % 11

12 Cash Flows ($M) 1Q16 1Q15 Cash From Operations $42.0 $(9.9) Capital Expenditures Free Cash Flow $27.7 $(19.4) 12

13 March 2016 Deleveraging. Net Debt / LTM Adjusted EBITDA 9.3x 8.4x 7.7x 7.1x 6.4x 6.9x 6.4x 4.4x 4.1x 4.3x Dec-07 Dec-08 Dec-09 Dec-10 Dec-11 Dec-12 Dec-13 Dec-14 Dec-15 Mar

14 Increasing FY16 Guidance ($M except EPS) 2015 Actual Previous 2016 Guidance Range Low High % chg. Updated 2016 Guidance Range Low High % chg. Revenue $4,319 $4,490 $4,570 4%-6% $4,540 $4,630 5%-7% Adjusted EPS $1.52 $1.62 $1.70 7%-12% $1.68 $ %-15% Note: 2016 Revenue and Adjusted EPS guidance assumes that currency exchange rates for the remainder of 2016 remain consistent with current rates Adjusted EPS assumes approximately $8.6M (pretax) of share-based compensation expense; tax rate to calculate 2016 Adjusted EPS of slightly above 35%; interest expense of approximately $86M - $87M; and approximately 132M weighted average diluted shares outstanding. 14

15 1Q16 Earnings Call Business Highlights Manuel Brocke-Benz President & CEO 15

16 Investing to Support our Customers Industry-Leading Distribution Upgraded US Capabilities Truly Pan-European Infrastructure IT Innovation Global Web Platform Electric Ordering VSR+ Inventory Management Antibody Selector Investing in our People 16

17 The VWR Growth Story Remains On-Track 1Q16 Americas: 7.6% organic 1Q16 EMEA-APAC up 3.6% organic Leveraging our platform, providing differentiated services, and driving value for our customers Lower interest cost, strengthening our balance sheet & deleveraging Executing a value creating acquisition strategy 1Q16 - Another positive data point that indicates that the VWR growth story remains on-track 17

18 1Q16 Earnings Call Q&A 18

19 1Q16 Earnings Call Appendix 19

20 Non-GAAP Reconciliation Reconciliation of net income, as adjusted FY12 FY13 FY14 1Q15 2Q15 3Q15 4Q15 FY15 1Q16 Net income $ 3.8 $ 14.1 $ $ 71.5 $ 18.3 $ 11.0 $ 53.5 $ $ 38.8 Amortization of acquired intangible assets Net foreign currency remeasurement loss (gain) from financing activities (90.9) (70.3) (45.4) 0.6 Restructuring charges 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 Other (1.3) (0.2) (0.4) (0.5) (1.1) 0.2 Income tax (benefit) provision applicable to adjustments, net (55.4) (57.3) (14.5) (21.1) (9.7) (26.7) (7.8) Deferred tax rate change related to amortizable intangible assets (4.5) (4.5) - Net income, as adjusted* $ $ $ $ 43.8 $ 44.4 $ 49.8 $ 62.2 $ $ 53.2 Adjusted EPS* $ 0.77 $ 0.94 $ 1.20 $ 0.33 $ 0.34 $ 0.38 $ 0.47 $ 1.52 $ 0.40 Adjusted weighted average shares outstanding, diluted Reconciliation of Adjusted EBITDA FY12 FY13 FY14 1Q15 2Q15 3Q15 4Q15 FY15 1Q16 Net income, as adjusted* $ $ $ $ 43.8 $ 44.4 $ 49.8 $ 62.2 $ $ 53.2 Interest expense, net of interest income 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% 10.4% 10.2% 10.8% 10.9% 10.6% 10.2% * Net income, as adjusted and Adjusted EPS include share-based compensation expense. 20

21 Non-GAAP Reconciliation (cont.) (dollars in millions) Reconciliation of Net Debt and Net Leverage FY12 FY13 FY14 1Q15 2Q15 3Q15 4Q15 FY15 1Q16 Debt** $ 3,148.6 $ 2,854.4 $ 2,111.9 $ 2,063.3 $ 2,066.5 $ 2,053.0 $ 1,989.0 $ 1,989.0 $ 2,108.1 Less: Cash and cash equivalents (139.8) (135.6) (118.0) (98.5) (129.9) (122.8) (136.3) (136.3) (129.7) Compensating cash balance (246.9) (25.9) (2.5) (0.2) Net Debt $ 2,761.9 $ 2,692.9 $ 1,991.4 $ 1,964.6 $ 1,936.6 $ 1,930.2 $ 1,852.7 $ 1,852.7 $ 1,978.4 Trailing twelve month Adjusted EBITDA $ $ $ $ $ $ $ $ $ Net Leverage 6.9x 6.4x 4.4x 4.4x 4.3x 4.2x 4.1x 4.1x 4.3x Reconciliation of Free Cash Flow FY12 FY13 FY14 1Q15 2Q15 3Q15 4Q15 FY15 1Q16 Cash flow from operations $ 34.7 $ $ $ (9.9) $ $ 60.2 $ 67.7 $ $ 42.0 Less: capital expenditures (51.8) (45.3) (33.6) (9.5) (7.0) (8.2) (16.2) (40.9) (14.3) Free Cash Flow $ (17.1) $ $ $ (19.4) $ $ 52.0 $ 51.5 $ $ 27.7 ** 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. 21

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