OUR NEW QUEST Grounded in Today's Realities While Building for the Future Steve Rusckowski President and Chief Executive Officer

Safe Harbor Disclosure This presentation may contain forward-looking statements. Readers are cautioned not to place undue reliance on forward-looking statements, which speak only as of the date that they are made and which reflect management's current estimates, projections, expectations or beliefs and which involve risks and uncertainties that could cause actual results and outcomes to be materially different. Risks and uncertainties that may affect the future results of the company include, but are not limited to, adverse results from pending or future government investigations, lawsuits or private actions, the competitive environment, changes in government regulations, changing relationships with customers, payers, suppliers and strategic partners and other factors discussed in "Business," "Risk Factors," "Cautionary Factors that May Affect Future Results," "Legal Proceedings," "Management's Discussion and Analysis of Financial Condition and Results of Operations," and "Quantitative and Qualitative Disclosures About Market Risk" in the company's 2011 Annual Report on Form 10-K and "Management's Discussion and Analysis of Financial Condition and Results of Operations," "Quantitative and Qualitative Disclosures About Market Risk," and "Risk Factors" in the company's Quarterly Reports on Form 10-Q and other items throughout the Form 10-K and the company's 2012 Quarterly Reports on Form 10-Q and Current Reports on Form 8-K. our new QUEST

Quest Diagnostics o A high quality company with an opportunity to improve performance - Strong reputation - Many capabilities to leverage - Solid foundation to build upon o Focused on restoring growth and driving operational excellence in our core business o Strengthening the management team and structure to enable superb, sustainable execution o Deliver shareholder value through a combination of earnings growth and disciplined capital deployment 3 our new QUEST

Agenda o Market Perspective o New Vision, Goals and Strategy o Drive Operational Excellence o Restore Growth o Deliver Disciplined Capital Deployment 4 our new QUEST

U.S. Diagnostic Testing Represents a Small Cost but Drives a Disproportionate Impact on Healthcare 2012 Health Consumption Expenditures $2.4T Lab $72B (3%) Hospital (36%) Professional Services (29%) Other (16%) Prescriptions (12%) Other Medical Products(4%) Laboratory Testing makes up only 3% of health consumption expenditures Increasing Role of Diagnostics o Diagnostic testing has an increasingly important seat at the table in delivering lower cost, higher quality healthcare o Trend towards more precision medicine and disease-oriented, personalized healthcare will strengthen the value we bring to the market Source: CMS, Thomson Reuters, Quest Diagnostics analysis * Excludes healthcare expenditures related to administration (government and private), government funded public health activities, government-funded research, and investments in structures and equipment. 5 our new QUEST

U.S. Diagnostic Testing Market is Large and Growing 2 Distinct Segments in a $72B Market "Four walls of the hospital" Hospital Services Addressable Market $28B (39%) 1 Outpatient $8B (11%) 2 Inpatient $20B (28%) "Outside the Four Walls" Ambulatory Physician Services Addressable Market $44B (61%) 3 Hospital Outreach $14B (20%) 4 Independent Labs $24B (34%) 5 POLs $3B (3%) 6 Other $3B (4%) Market Characteristics o Market has been growing on average 4% per year over the past four years o Hospital outreach has been picking up share in both volume and value - benefiting from higher price points o The Industry will benefit from the Affordable Care Act starting in 2014 o Hospitals will, in the near-term, continue to benefit but will be under increased price pressure and payment reform pressure o The market will continue to grow at approximately 4% 6 our new QUEST

We Operate in a Highly Fragmented Market Total U.S. Lab Market 61% DGX 9% Hospital-Outpatient 11% Hospital-Inpatient 28% Outside the Hospital 52% Total = $72B "Outside the Hospital" Lab Segment 55% Other 6% POL 6% Hospital Outreach 33% DGX 13% Independent Labs 42% Total = $44B Independent Lab Segment Tier 2 Labs 10% Niche Labs 8% Small Independent Labs 39% LH 19% DGX 24% 43% Total = $24B 7 our new QUEST

Forces at Work in the Industry Volume o Organic growth (population/utilization) o More insured lives o Growth in esoteric testing Reimbursement o Government and commercial pricing pressure o Shift from FFS to capitation o Growth in exchanges and Medicaid Stakeholder Dynamics o Physician acquisition by hospitals o ACO formation/payor consolidation o Changes in benefit design Technology Evolution o Advances in genomics and proteomics o Focus on disease-oriented approach to diagnostics, treatment and management o Advances in clinical decision support 8 our new QUEST

Trends Contributing to Industry Growth Opportunities Esoteric growth through disease focus Esoteric solutions combined with routine testing across continuum of care Hospital Dynamics Related to Lab Services Hospital acquisition of physician practices Hospitals and ACOs turn to partners to manage lab spend Hospital Payors pressure hospital reimbursement Hospitals view labs as cost centers requiring investment Strategic partnership opportunities will increase as hospitals become incented to relax the need to control their labs 9 our new QUEST

Agenda o Market Perspective o New Vision, Goals and Strategy o Drive Operational Excellence o Restore Growth o Deliver Disciplined Capital Deployment 10 our new QUEST

We Have Launched a Refresh of our Vision, Goals and Culture Our new vision o Empowering better health with diagnostic insights Values o Quality, Integrity, Accountability, Collaboration, Innovation, Leadership Aspirational goals o A healthier world - Help more people - Deliver innovative insights - Make health information easy to access o Build a valuable company - Grow profitably - Expand ROIC - Deliver superior shareholder returns Communications Campaign o Create an inspiring place to work - Improve employee engagement and inclusion - Broaden community impact - Become employer of choice 11 our new QUEST

Our 5 Point Strategy 1 Refocus: Refocus on diagnostic information services 2 Drive: Drive operational excellence 3 Restore: Restore Growth 4 Simplify: Simplify the organization to enable growth and productivity 5 Deliver: Deliver disciplined capital deployment and strategically aligned accretive acquisitions 12 our new QUEST

1 Refocus on Diagnostic Information Services We Conducted a Thorough Portfolio Review to Evaluate all Assets to Ensure Strong Strategic Fit Retain and Improve Performance o Pathology services, including AmeriPath - Core to our future - Focus on improving performance o Celera - Complete integration of Berkeley Heart Lab - Leverage content from discovery capabilities o International - Small but growing rapidly and profitable - Continue to grow by leveraging U.S.-based capabilities and assets Evaluate Options o Celera drug assets - Financial assets - Continue to actively review a full range of alternatives - Focus on maximizing value in a risk-appropriate way o Hemocue and Celera products businesses - Explore strategic options o EHR business - Refocus on small, independent physician practices - Pursue partnerships with top EHR vendors to jointly strengthen our value proposition 13 our new QUEST

2 Drive Operational Excellence o Focus on four strategic imperatives - Enterprise IT architecture - End-to-end customer value chain - Business performance tools - Cost excellence - Invigorate o Invigorate goal - Deliver $500M in savings in 2014 compared to 2011 baseline - Increase goal to $600M run-rate savings exiting 2014 14 our new QUEST

3 Restore Growth Seven Growth Themes Near - Term Focus 1 Sales and Marketing Excellence 2 Grow Esoteric through our Disease Focus 3 Partner with Hospitals and IDNs 4 Succeed Internationally Long - Term Focus 5 Create Value from Information Assets 6 Lead in Companion Diagnostics 7 Extend in Adjacent Markets 15 our new QUEST

4 Simplify the Organization Diagnostic Information Services BEFORE Business 1 Business 2 Business 3 Business 4 Business 5 NEW Value Creation Value Delivery General Management Science & Innovation Sales & Marketing Strategic Marketing Operations Support Functions 16 our new QUEST

4 Simplify the Organization Steve Rusckowski President and CEO Value Creation Value Delivery Jay Wohlgemuth MD SVP Science and Innovation Cathy Doherty SVP Business Lines Everett Cunningham SVP Commercial John Haydon SVP Operations Diagnostic Information Services Kathy Ordonez SVP Diagnostic Solutions Bob Hagemann SVP & CFO Dermot Shorten VP Strategy & Ventures Jon Cohen MD SVP & CMO Tim Sharpe VP Compliance Mike Prevoznik SVP & General Counsel Gary Samuels VP Communications Jeff Shuman SVP Human Resources Open VP International 17 our new QUEST

5 Deliver Disciplined Capital Deployment and Strategically Aligned Accretive Acquisitions o Restore growth - Sales and marketing excellence - Esoteric testing with disease state focus - Strategic hospital/IDN partnerships o Drive operational excellence - Expand margins through Invigorate - Realize significant operating leverage upon restoration of growth o Increase value for shareholders - Improve operating performance and deliver disciplined capital deployment - Quarterly dividend increased from $0.17 to $0.30 per share, a 76% increase, 3 fold increase since 2011 18 our new QUEST