#1West West Pharmaceutical Services, Inc. Investor Presentation May/June 2018#2Safe Harbor Statement Cautionary Statement Under the Private Securities Litigation Reform Act of 1995 This presentation and any accompanying management commentary contain "forward-looking statements" as that term is defined in the Private Securities Litigation Reform Act of 1995. Such statements include, but are not limited to, statements about product development and operational performance. Each of these statements is based on preliminary information, and actual results could differ from any preliminary estimates. We caution investors that the risk factors listed under "Cautionary Statement” in our press releases, as well as those set forth under the caption "Risk Factors" in our most recent Annual Report on Form 10-K as filed with the Securities and Exchange Commission and as revised or supplemented by our quarterly reports on Form 10-Q, could cause our actual results to differ materially from those estimated or predicted in the forward-looking statements. You should evaluate any statement in light of these important factors. Except as required by law or regulation, we undertake no obligation to publicly update any forward-looking statements, whether as a result of new information, future events, or otherwise. Non-U.S. GAAP Financial Measures Certain financial measures included in these presentation materials, or which may be referred to in management's discussion of the Company's results and outlook, have not been calculated in accordance with U.S. generally accepted accounting principles ("U.S. GAAP"), and therefore are referred to as non-GAAP financial measures. Non-GAAP financial measures should not be considered in isolation or as an alternative to such measures determined in accordance with GAAP. Please refer to "Reconciliation of Non-GAAP Measures" at the end of these materials for more information. Trademarks Registered trademarks used in this report are the property of West Pharmaceutical Services, Inc. or its subsidiaries, in the United States and other jurisdictions, unless noted otherwise. Daikyo Crystal Zenith® is a registered trademark of, and is licensed from, Daikyo Seiko, Ltd. 2 WST Investor Presentation - May/June 2018 West◆#3West Business at a Glance 7% 23% 23% 34% >2,000 Customers Largest Customer: ~7% of Total Sales $1.6 Billion Net Sales 41% 42% Net Sales 51% 4% By Product By Geography Category Net Sales By Market Group 23% >7,500 Employees 32% 20% Americas Europe, Middle East, Africa Asia Pacific * Based on 2017 consolidated net sales 31 WST Investor Presentation - May/June 2018 PROPRIETARY PRODUCTS High-Value Components Standard Packaging Delivery Devices Contract-Manufactured Products PROPRIETARY PRODUCTS Pharma Generics Biologics Contract-Manufactured Products 50 Locations 28 Manufacturing Sites West#42018 First-Quarter Results & Full-Year Outlook (as provided on April 26, 2018) Q1 reported net sales of $415.7 million, representing 0.2% organic sales growth Excluding impact of Venezuela deconsolidation & loss of consumer-product contract manufacturing customer, organic sales growth would have been 4.1% • Despite headwinds, Generics market unit and Contract-Manufactured Products segment both experienced high-single digits organic sales growth ■ Q1 adjusted-diluted EPS (1) was $0.62 ■ Q1 2018 tax benefits from stock option exercises resulted in $0.03 of reported and adjusted EPS impact, which was $0.02 lower than our expectation as communicated on our last call ■ Reaffirmed 2018 financial guidance • • Reaffirmed full-year 2018 net sales guidance range of $1.720 billion to $1.730 billion. This assumes a translation exchange rate of $1.20 per Euro, unchanged from prior guidance Expect 2018 organic sales growth to be within a range of 6% to 8% Reaffirmed full-year 2018 adjusted-diluted EPS range of $2.80 to $2.90 (1) Please refer to "Notes to Non-GAAP Financial Measures" on slides 12-14, and "Non-GAAP Financial Measures" in WST's Q1 2018 press release, for additional information regarding adjusted diluted EPS. 4| WST Investor Presentation - May/June 2018 West◆#5Organic Sales Growth Abbreviations: LSD – low-single digit; MSD – mid-single digit; HSD-high-single digit; DD – double digit Q1 2017 Q2 2017 Q3 2017 Q4 2017 Q1 2018 Overall Organic Sales Growth 8.7% 3.9% 3.7% 4.5% 0.2% Biologics MSD MSD MSD* DD (LSD) Generics (MSD) (MSD) LSD HSD HSD Pharma DD HSD* (MSD)* (MSD)* (HSD) Contract Manufacturing DD DD DD DD HSD * Represents a reclassification of certain customer sales. This reclassification had no impact on 2017 overall organic sales growth or Proprietary Products segment organic sales growth. 5 WST Investor Presentation - May/June 2018 West#6$387.7 2017 Change in Consolidated Net Sales First-quarter 2017 to 2018 ($ millions) $4.9 $10.5 $27.3 ($14.7) $415.7* Currency Volume & Mix Sales Price Venezuela / Consumer 2018 * Includes $3 million revenue reduction related to the adoption of new accounting guidance in Q1 2018. 6| WST Investor Presentation - May/June 2018 West#734.6% 1.5% Change in Gross Profit Margin % First-quarter 2017 to 2018 0.8% (0.4%) (1.2%) (1.5%) (1.5%) 32.3% 2017 Efficiency Sales Price Raw Material Volume & Mix Plant OH & Other Venezuela / Consumer 2018 7| WST Investor Presentation - May/June 2018 West◆#8$62.5 16.1% of Net Sales Change in SG&A Costs First-quarter 2017 to 2018 ($ millions) $1.9 $0.8 $2.3 $2.6 $1.8 $68.3 16.4% of Net Sales 2017 Comp and Benefits Currency Translation Outside Services Other Venezuela 2018 8| WST Investor Presentation - May/June 2018 West#9Full-Year 2018 Guidance (as provided on April 26, 2018) ■ Reaffirmed full-year 2018 reported net sales guidance range of $1.720 billion to $1.730 billion* ■ No change in full-year 2018 net sales organic growth guidance of 6-8% range - - Excluding 2017 net sales that will not recur in 2018, constant-currency sales growth is expected to be at the higher end of that 6-8% range Reaffirmed full-year 2018 adjusted-diluted EPS range of $2.80 to $2.90(1,2) This includes an estimated positive EPS impact from tax benefits from stock-based compensation * Using an exchange rate of $1.20 per Euro (1) Please refer to “Notes to Non-GAAP Financial Measures” on slides 12-14, and “Non-GAAP Financial Measures" in our Q1 2018 press release, for additional information regarding adjusted diluted EPS. (2) Guidance excludes possible cost and benefits from the announced Global Operations restructuring plan and the impact of tax law changes. 9| West◆#1010 | Increasing value to West West Differentiated Solutions: Integrated Containment & Delivery STERILIZED SELF INJECTION QUALITY BY DESIGN CONTAINMENT CAMERA INSPECTED COATED DAIKYO ADMINISTERED WEST Envision Crystal ZenithⓇ THE CLEAR SOLUTION NOVAPURE West Flurolec. VIAL2BAG INJECTION MOLDING West◆ Contract Manufacturing WASHED Westar RU Westar RS Ready-to-Sterilize Components STERILE Ready-to-Use Components DC STANDARD WST Investor Presentation - May/June 2018 MULTI-COMPONENT ASSEMBLY SMARTDOSE® Increasing levels of customer intimacy West#115-Year CAGR 20% Product Net Sales & Margin Growth 2013-2017 compound annual net sales growth rates (excludes currency) 15% Contract 10% Manufacturing Proprietary Devices 5% 0% Standard Packaging 30% High-Value Components 2017 GM 32.1% 5-Yr Sales CAGR 6.4% HVP components went from 34% of net sales in 2012 to 41% of net sales in 2017 2017 Category Gross Margin % Circles reflect relative size of 2017 net sales 11 | WST Investor Presentation - May/June 2018 60% West#12Notes to Non-GAAP Financial Measures For additional details, please see WST's Q1 2018 press release & Safe Harbor Statement These presentation materials use the following financial measures that have not been calculated in accordance with generally accepted accounting principles (GAAP) accepted in the U.S., and therefore are referred to as non-GAAP financial measures: • Net sales at constant currency (organic sales) • Adjusted operating profit • Adjusted operating profit margin Adjusted net income • Adjusted income tax expense • Adjusted diluted EPS Net debt Total invested capital Net debt to total invested capital West believes that these non-GAAP measures of financial results provide useful information to management and investors regarding business trends, results of operations, and the Company's overall performance and financial position. Our executive management team uses these financial measures to evaluate the performance of the Company in terms of profitability and efficiency, to compare operating results to prior periods, to evaluate changes in the operating results of each segment, and to measure and allocate financial resources to our segments. The Company believes that the use of these non-GAAP financial measures provides an additional tool for investors to use in evaluating ongoing operating results and trends in comparing its financial measures with other companies. Our executive management does not consider such non-GAAP measures in isolation or as an alternative to such measures determined in accordance with GAAP. The principal limitation of these financial measures is that they exclude significant expenses and income that are required by GAAP to be recorded. In addition, they are subject to inherent limitations as they reflect the exercise of judgment by management about which items are excluded. In order to compensate for these limitations, non-GAAP financial measures are presented in connection with GAAP results. We urge investors and potential investors to review the reconciliations of our non-GAAP financial measures to the comparable GAAP financial measures, and not to rely on any single financial measure to evaluate the Company's business. Net sales at constant currency translates the current-period reported sales of subsidiaries whose functional currency is other than the U.S. dollar at the applicable foreign exchange rates in effect during the comparable prior-year period. In calculating adjusted operating profit, adjusted income tax expense, adjusted net income and adjusted diluted EPS, we exclude the impact of items that are not considered representative of ongoing operations. Such items generally include restructuring and related costs, certain asset impairments, other specifically identified gains or losses, and discrete income tax items. Please see "Financial Guidance" and "Non-GAAP Financial Measures" in WST's Q1 2018 press release for further information concerning reconciling items. 12 WST Investor Presentation - May/June 2018 West◆#1313| Notes to Non-GAAP Financial Measures RECONCILIATION OF NON-GAAP MEASURES (UNAUDITED) See "Notes to Non-GAAP Financial Measures" (Slide 12-14), "Cautionary Statement" (Slide 2) and West's Q1 2018 press release for an explanation and reconciliation of these items. Reconciliation of Reported and Adjusted Operating Profit, Net Income and Diluted EPS Three months ended March 31, 2018 Reported (GAAP) Restructuring and related charges Tax law changes Adjusted (Non-GAAP) ($ million, except EPS data) Operating profit Income tax Net Diluted expense income EPS $53.4 $12.5 $43.6 $0.58 3.3 0.6 2.7 0.03 (0.3) 0.3 0.01 $56.7 $12.8 $46.6 $0.62 Reconciliation of Net Sales to Net Sales at Constant Currency (1) ($ million, except EPS data) Three months ended March 31, 2018 Reported net sales (GAAP) Effect of changes in currency translation rates Net sales at constant currency (Non-GAAP) (1) Proprietary CM Eliminations Total $326.2 $89.5 $ $415.7 (23.2) (4.1) (27.3) $303.0 $85.4 - $388.4 (1) Net sales at constant currency translates the current-period reported sales of subsidiaries whose functional currency is other than the U.S. Dollar at the applicable foreign exchange rates in effect during the comparable prior-year period. West#1414| Notes to Non-GAAP Financial Measures RECONCILIATION OF NON-GAAP MEASURES (UNAUDITED) See "Notes to Non-GAAP Financial Measures" (Slide 12-14), "Cautionary Statement" (Slide 2) and West's Q1 2018 press release for an explanation and reconciliation of these items. Reconciliation of Reported-Diluted EPS Guidance to Adjusted-Diluted EPS guidance Reported-diluted EPS guidance Restructuring and related charges Tax law changes Adjusted-diluted EPS guidance Full Year 2018 Guidance (1) (2) $2.66 to $2.81 0.08 to 0.13 0.01 $2.80 to $2.90 (1) Please refer to "Notes to Non-GAAP Financial Measures" on slides 12-14, and "Non-GAAP Financial Measures" in West's Q1 2018 press release, for additional information regarding adjusted diluted EPS. (2) Guidance includes various currency exchange rate assumptions, most significantly the euro at $1.20 for the remainder of 2018. Actual results will vary as a result of exchange rate variability. West#15Appendix: Reconciliation of Non-GAAP Measures 2017 2016 2015 2014 2013 Diluted EPS Reported (GAAP) $1.99 $1.91 $1.30 $1.75 $1.57 Venezuela deconsolidation 0.15 Venezuela currency devaluation 0.04 Pension settlement charge 0.43 Pension curtailment gain Executive retirement and related costs License costs (0.01) 0.09 0.01 Restructuring and related charges 0.23 Tax law changes 0.64 0.01 0.01 0.02 0.06 Diluted EPS Adjusted (Non-GAAP) $2.78 $2.18 $1.83 $1.78 $1.63 15 | WST Investor Presentation - May/June 2018 West#16West◆