Edwards Lifesciences Corporation Unaudited Consolidated Statements of Operations

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1 Unaudited Consolidated Statements of Operations Three Months Ended March 31, (in millions, except per share data) Net sales $212.5 $162.3 Cost of goods sold Gross profit Selling, general and administrative expenses Research and development expenses Purchased in-process research and development expenses Other operating income 0.0 (3.8) Operating income Interest expense, net Other income, net (3.6) 0.0 Income before provision for income taxes Provision for income taxes Net income $14.5 $20.8 used to calculate basic earnings per share Basic earnings per share $0.25 $0.35 used to calculate diluted earnings per share Diluted earnings per share $0.24 $0.34 Gross profit 58.1% 57.4% Selling, general and administrative expenses 33.6% 31.2% Research and development expenses 8.9% 9.5% Operating income 10.0% 19.0% Income before provision for income taxes 10.4% 17.3% Net income 6.8% 12.8% Effective tax rate 34.4% 26.0%

2 Unaudited Balance Sheets ASSETS March 31, December 31, Current assets Cash and cash equivalents $29.8 $34.2 Accounts and other receivables Inventories Short-term deferred income taxes Other current assets Total current assets Property, plant and equipment Goodwill Other intangible assets Investments in unconsolidated affiliates Other assets $1,035.9 $1,008.2 LIABILITIES AND STOCKHOLDERS' EQUITY Current liabilities Accounts payable and accrued liabilities $189.6 $197.9 Long term debt Other liabilities Stockholders' equity Common stock Additional contributed capital Retained earnings Accumulated other comprehensive (51.6) (44.7) Common stock in treasury, at cost (39.7) (31.5) Total stockholders' equity $1,035.9 $1,008.2

3 The following tables reconcile GAAP results to the results stated in this press release that are not prepared in conformity with GAAP. These non-gaap results reflect the impact of the Japan Consolidation, FX and/or the in-process R&D charge. Management has determined that inclusion of these non-gaap results provides a more meaningful comparison of the Company's operating results for the periods presented and of ongoing operations. 1Q 2003 Unaudited Reconciliation of Consolidated Statement of Operations Non-Recurring Item GAAP Non-GAAP (in millions, except per share data) 1Q 2003 Jomed Charge 1Q 2003 Net sales $212.5 $212.5 Cost of goods sold Gross profit Selling, general and administrative expenses Research and development expenses Purchased in-process research and development expenses 11.8 $(11.8) 0.0 Operating income Interest expense, net Other income, net (3.6) (3.6) Income before provision for income taxes Provision for income taxes Net income $14.5 $10.6 $25.1 used to calculate basic earnings per share Basic earnings per share $0.25 $0.18 $0.43 used to calculate diluted earnings per share Diluted earnings per share $0.24 $0.17 $0.41 Gross profit 58.1% 58.1% Selling, general and administrative expenses 33.6% 33.6% Research and development expenses 8.9% 8.9% Operating income 10.0% 15.5% Income before provision for income taxes 10.4% 16.0% Net income 6.8% 11.8% Effective tax rate 34.4% 26.0%

4 1Q 2002 Unaudited Reconciliation of Consolidated Statement of Operations Pro Forma Adjustments GAAP Japan on a Non-GAAP (in millions, except per share data) 1Q 2002 Consolidated Basis 1Q 2002 Net sales $162.3 $22.7 $185.0 Cost of goods sold Gross profit Selling, general and administrative expenses Research and development expenses Other operating income (3.8) Operating income 30.9 (0.2) 30.7 Interest expense, net Other income, net 0.0 (0.3) (0.3) Income before provision for income taxes 28.1 (0.1) 28.0 Provision for income taxes Net income $20.8 $(0.1) $20.7 used to calculate basic earnings per share Basic earnings per share $0.35 $0.00 $0.35 used to calculate diluted earnings per share Diluted earnings per share $0.34 $0.00 $0.34 Gross profit 57.4% 58.0% Selling, general and administrative expenses 31.2% 32.7% Research and development expenses 9.5% 8.7% Operating income 19.0% 16.6% Income before provision for income taxes 17.3% 15.1% Net income 12.8% 11.2% Effective tax rate 26.0% 26.0%

5 Unaudited Reconciliation of Sales by Product Line and Region (in millions) Growth Rate Adjustments Sales by Product Line 1Q Q 2003 GAAP Growth Rate Japan Consolidation Foreign Exchange Underlying Growth Rate Cardiac Surgery $87.7 $ % 2.9% 5.3% 14.2% Critical Care % 11.6% 7.3% 7.4% Vascular % 6.1% 6.9% 4.2% Perfusion % 46.9% 4.1% (6.6%) Other Distributed Products NM NM 9.7% (5.4%) Total Sales $162.3 $ % 16.1% 6.4% 8.5% Sales by Region 1Q 2003 United States $ 97.0 Europe 47.2 Japan 49.1 Rest of World 19.2 International Total $ Note: Percentages are based on actuals before rounding.

Net sales $258.2 $234.6 $507.3 $469.6 Cost of goods sold Gross profit

Unaudited Consolidated Statements of Operations Three Months Ended Six Months Ended June 30, June 30, (in millions, except per share data) 2005 2004 2005 2004 Net sales $258.2 $234.6 $507.3 $469.6 Cost