Strategic Overview

Key Market Overview Market Renal Care Acute Therapies Clinical Nutrition Medication Delivery Advanced Surgery Pharmaceuticals Total Baxter Baxter Size¹ ~$14B ~$1B ~$4B ~$23B ~$3B ~$57B $100B+ Growth² ~4% 7% -8% 3% -4% ~3% 4% - 5% 6%-7% 3% -4%³ Baxter Outlook4 ~5% 8% -9% 4% - 5% 3% -4% 6%-7% 6% - 7% ~5% Sustainable market growth of 3% -4% supported by: ✓ Medically necessary products and therapies ✓ Rising prevalence of chronic disease and co-morbidities ✓ Global expansion and increased adoption in emerging markets Delivering Above-Market Growth Of ~5% 12018 market size based on internal analysis. 2Estimated 2018 - 2023 CAGR based on internal analysis. ³Baxter's weighted average market growth. 4All references in this presentation to future financial expectations assume commercial execution and regulatory approvals, as applicable, consistent with Baxter's plans. CAGRS for years 2018-2023 assume constant foreign exchange rates. | 3

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