This document provides non-GAAP financial information and reconciliations for Edwards Lifesciences Corporation. It defines non-GAAP measures used by the company such as underlying sales, adjusted net income, and adjusted EPS, which exclude items like currency fluctuations, acquisitions, divestitures, and special charges. It also notes management considers free cash flow an important liquidity measure and provides the company's definition. In addition, the document gives examples of items excluded from non-GAAP measures for specific periods to reconcile to GAAP reporting, such as intellectual property litigation expenses.

1. Edwards Lifesciences
Patient-Focused Innovations
for Structural Heart Disease
and Critical Care Monitoring

2. Use of Non-GAAP Financial Measures
 Unless otherwise indicated, all figures are GAAP financial measures
 The Company uses the term “underlying” when referring to non-GAAP sales information,
which excludes discontinued and acquired products, foreign exchange fluctuations, and the
THVT sales return reserves and “excluding special items” and “adjusted net income” and
“adjusted EPS” to also exclude gains and losses from special items such as significant
investments, litigation, amortization and business development transactions.
 A reconciliation of non-GAAP historical financial measures to the most comparable GAAP
measure is available at www.edwards.com
 The Company is not able to provide a reconciliation of future projections that exclude
special items to expected reported results due to the unknown effect, timing and potential
significance of special charges or gains, and management’s inability to forecast charges
associated with future transactions and initiatives
29/16/16

3. Cautionary Statement
Presentations and comments made today by the management of Edwards Lifesciences Corporation will include forward-looking
statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of
1934. These forward-looking statements can sometimes be identified by the use of words such as “may,” “will,” “should,”
“anticipate,” “believe,” “plan,” “project,” “estimate,” “expect,” “intend,” “guidance,” “outlook,” “optimistic,” “aspire,” “confident” or
other forms of these words or similar expressions. These may include, but are not limited to, the company’s financial goals or
expectations for 2016 and beyond; expectations for new products, therapy adoption and the global TAVR opportunity; the timing
and results of clinical trials and regulatory approvals; and strategies and opportunities for growth.
Forward-looking statements are based on estimates and assumptions made by management of the company and are believed to
be reasonable, though they are inherently uncertain and difficult to predict. Our forward-looking statements speak only as of the
date on which they are made and we do not undertake any obligation to update any forward-looking statement to reflect events or
circumstances after the date of the statement. If the Company does update or correct one or more of these statements, investors
and others should not conclude that the company will make additional updates or corrections.
Forward-looking statements involve risks and uncertainties that could cause actual results or experience to differ materially from
that expressed or implied by the forward-looking statements. Factors that could cause actual results or experience to differ
materially from that expressed or implied by the forward looking statements are detailed in the company's filings with the
Securities and Exchange Commission including its Annual Report on Form 10-K for the year ended December 31, 2015. These
filings, along with important safety information about our products, may be found at edwards.com.
39/16/16

4. Driven by a Passion to Help Patients
Edwards partners with
clinicians to develop innovative
technologies in the areas of
structural heart disease and
critical care monitoring that
enable them to save and
enhance lives.
49/16/16

5. Global Leadership
Over 95% of sales from products
in #1 global positions
Serving patients in more than
100 countries worldwide
5
U.S.
Europe
Japan
ROW
2010 2015
Transcatheter
Heart
Valve Therapy
Surgical
Heart
Valve
Therapy
Critical
CareSurgical
Heart
Valve
Therapy
Critical
Care
THVT
9/16/16

6. Edwards’ Strategy
6
• Breakthrough therapies
with superior clinical
and economic
evidence
• Active product portfolio
management
Focused Innovation
• Pioneering legacy of
establishing standards
of care
• Trusted relationships
with clinicians, payors
and regulators
Industry LeadershipPatient-Centric
• Fulfilling unmet needs
of structural heart and
critically ill patients
• Transforming care
drives enduring value
creation
Create Value with Therapies that Transform Patient Care
9/16/16

7. Industry Leadership
9/16/16 7

8. Edwards is Well Positioned to Maintain Global TAVR
Leadership
 A beating heart alternative to traditional surgery for certain
aortic stenosis patients
 An increasing body of evidence is changing the treatment of
aortic stenosis
– SAPIEN 3 has delivered superior clinical outcomes
 Continuing to build robust clinical evidence to expand patient
access
 Investing to be the technology leader
89/16/16

9. Global TAVR Opportunity Could Exceed $5B in 2021
9
Observations
For Severe, Symptomatic AS Patients
• Age plays a significant role in the
diagnosis and treatment of aortic
stenosis
• Additional risk factors not captured
in STS score become more important
with patient age
• A safe interventional procedure has
the potential to lift treatment rates in
older age group
(1) Nkomo 2006, Iivanainen 1996, Aronow 1991, Bach 2007, Freed 2010, Iung 2007, Pellikka 2005, Brown 2008, Thourani 2015, internal estimates.
-
2,000
4,000
6,000
8,000
10,000
12,000
14,000
50 55 60 65 70 75 80 85 90 95 100
SAVR
TAVR
Untreated (estimated)
Age
Patients
2015 Severe Symptomatic
AS Patients in the U.S.1
9/16/16

10. There are Many Patients Who May Benefit From TAVR
10
Moderate and Severe Aortic Stenosis(1) (AS)
~1.6 M
Severe AS(1)
~580,000
Severe AS,
Symptomatic(2)
~290,000
~1/2 Symptomatic
(1) Nkomo 2006, Iivanainen 1996, Aronow 1991, Bach 2007 (2) Internal estimates, Freed 2010, Iung 2007, Pellikka 2005; Brown 2008 (n=622)
~260,000~1/2 Asymptomatic
Severe AS,
Asymptomatic(2)
~290,000
2015 Total U.S. Population
High
Risk
Intermediate
Risk
Low Risk Asymptomatic
9/16/16

11. Positive Outcomes and Expanded Indications Should
Encourage Untreated Patients to Seek Therapy
11
 Low risk patients: STS <4
 Randomized 1:1 to
surgery
 Approx. 1,300 patients;
1-yr follow-up
 Currently enrolling; est.
completion mid-2017
Low Risk Trial
High Risk
Intermediate
Risk
Low Risk
Intermediate Risk
 SAPIEN 3 better than
surgery at one year(1)
 SAPIEN 3 approved for
intermediate risk patients
in the U.S.
 Expansion of CE Mark
indication est. late 2016
or early 2017
(1) The SAPIEN 3 valve was better than surgery at one year on a composite primary endpoint of mortality, stroke and moderate or severe aortic regurgitation.
9/16/16

12. Product Enhancements, New Technologies and
Expanded Indications Strengthen Leadership
 The Edwards SAPIEN 3 Ultra System
– On-balloon delivery system
– Next-generation sheath
– CE Mark approval expected in 2H 2017
 Pulmonic indication for SAPIEN XT enables treatment of adult and pediatric patients
 CENTERA design expected to be best-in-class self-expanding platform;
CE Mark anticipated in 2H 2017
 Pursuing indication expansion utilizing current platforms
 Next generation valve platforms under development
12
Edwards SAPIEN 3 Ultra System
The Edwards SAPIEN 3 Ultra System and CENTERA are not approved for sale.
9/16/16

13. The Leader in a ~$1.8B Global Surgical Heart Valve
Segment
 Differentiated, long-term evidence and highly trusted
brand
– More long-term clinical publications than any other
surgical valve
 Surgical AVR expected to continue to be an important
option for younger patients and complex procedures
 Innovation planned beyond aortics, expanding treatment
options in other valve positions
 Strategy is to differentiate surgical offerings with superior
clinical and health economic evidence
139/16/16

14. 14
(1) Flameng W, et al. J Thorac Cardiovasc Surg. 2015;149:340–45INSPIRIS not approved for sale.
 EDWARDS INTUITY Elite
– Facilitates MIS AVR
– Trusted platform, rapid deployment,
and smaller incision
– Now approved in the U.S.
 INSPIRIS
– RESILIA tissue has demonstrated reduced
calcification and improved hemodynamics
in rigorous preclinical studies1
– VFit technology is designed for potential future
valve-in-valve procedures
– EU and U.S. launches anticipated in 2017
INTUITY and INSPIRIS Should Extend Our Leadership
in Surgical Valves
9/16/16

15. Edwards’ Unmatched Portfolio of Market Leading
Hemodynamic Products is a Competitive Advantage
15
ClearSight
Finger Cuff
Swan-Ganz
Pulmonary
Artery Catheter
FloTrac
Sensor
TruWave
Transducers
Core Hemodynamic Products Enhanced Surgical Recovery Products
EV1000
Clinical
Platform
9/16/16

16. Enhanced Surgical Recovery is an Underpenetrated
Global Opportunity
 Enhanced surgical recovery is focused on reducing
complications and length of stay
 ClearSight noninvasive sensor expands benefits of
ESR to a broader patient population
 Innovating to drive future ESR growth
– Next generation hemodynamic monitor
– Integrated semi-closed loop system for standardized
management of patient fluid levels
16
Size of ESR Opportunity
Unpenetrated
$550M
Penetrated
$150M
Large Opportunity Exists
to Reduce Complications
from Surgery
9/16/16

17. Innovation Fuels
Long-Term Growth
9/16/16 17

18. Edwards is Investing Aggressively to Lead
Transformational Structural Heart Therapies
18
CardiAQ-Edwards Mitral Replacement
FORMA Tricuspid Repair
HF Programs LV Restoration
CardioKinetix LV Reduction
Harpoon Degenerative Mitral Repair
FMR Program Functional Mitral Repair
Selected Programs Description
AdjacentValvesHeartFailure
9/16/16
Note: Harpoon and CardioKinetix are external programs.

19. Combined CardiAQ-Edwards Platform Can Drive
Leadership
 Focus on building clinical experience in TMVR
 CardiAQ platform complements the FORTIS program
– One valve, multiple delivery systems
– Unique anchoring mechanism
 Early patient experience is encouraging; more study needed
 Planned clinical timelines:
– U.S. EFS underway; CE Mark trial to begin soon*
 Near-term product additions:
– Lower valve profile, additional valve sizes, delivery system
improvements, Edwards tissue
19
The CardiAQ-Edwards valve is not available for sale. *Guidance as of July 26, 2016
9/16/16

20. Other Structural Heart Initiatives Focused on
Significant Unmet Patient Needs
20
FORMA Harpoon CardioKinetix
 Implantable spacer that reduces
regurgitant tricuspid flow
 1.6M U.S. patients suffer from
moderate-to-severe TR1
 Early human clinical experience
is promising
 U.S. EFS underway
 Transcatheter approach to
chordal repair
 1.6M U.S. patients 45-85 years
old2
 Minority investment and option
to acquire Harpoon Medical
 CE Mark trial enrollment
underway
 Treatment for left ventricular
dysfunction
 1.4M U.S. Class III patients
underserved3
 Minority investment and option
to acquire CardioKinetix
 U.S. pivotal trial 50% enrolled;
CE Mark as of 2011
(1) Stuge and Liddicoat. Emerging opportunities for cardiac surgeons within structural heart disease. J Thorac Cardio Surg 2006;132:1258-1261 (2) Singh et al., Prevalence and Clinical Determinants of
MR…(Framingham), Am J Cardiology 1999 (3) IMPROVE-HF Registry, Nursing Home Survey 2004, NHANES 2009-12, CVRG 2015. FORMA, Harpoon and CardioKinetix are not available for sale.
9/16/16

21. Financial Highlights
9/16/16 21

22. Edwards is an Attractive Investment
 Strong organic topline growth
 Disciplined SG&A expense control
 Successful long-term track record
 Shareholder-friendly governance profile
 Pay-for-performance philosophy
 Robust free cash flow
 Commitment to returning capital
to shareholders
22
Net Sales
($ in billions and underlying growth rates)
$1.90 $2.05
$2.32
$2.49
High End
$2.70 -
3.00
2012 2013 2014 2015 2016E
11%
13% 17%
~18%
Underlying figures exclude impacts from foreign currency and special items.
9/16/16
Guidance as of 7/26/16. Not an update.

23. Q2 Results Add to Strong First Half of 2016
 Sales grew 23% (non-GAAP +21%)
– THVT sales grew 49% (non-GAAP +45%)
 EPS was $0.58, up 14% (adjusted EPS $0.76, +33%)
 2016 sales guidance raised to high end of
$2.7 - $3.0 billion
 2016 THVT sales guidance raised to
$1.5 - $1.7 billion based on strong therapy adoption
 2016 Adjusted EPS guidance increased
to $2.78 - $2.88
23
$0.57
$0.76
2Q15 2Q16
+33%
Total Underlying Sales (000s)
Adjusted EPS
$627.0
$759.3
2Q15 2Q16
+21%
Underlying/adjusted figures exclude impacts from foreign currency and special items.
9/16/16
Guidance as of 7/26/16. Not an update.

24. 2016 Non-GAAP Financial Goals
24
($ in millions, except EPS) 2016 Guidance
Total Net Sales
High End of
$2,700 - $3,000
Gross Profit Margin 73% - 74%
Free Cash Flow $500- $600
EPS $2.78 - $2.88
9/16/16
Guidance as of 7/26/16. Not an update.

25. Capital Allocation Priorities
259/16/16
 Fund strategic external investments:
– Selective acquisitions, likely smaller in size
– Minority investments and options
– Intellectual property
 Disciplined capital expenditures to support growth
 Share repurchase is the preferred method for returning capital to investors
 Management is committed to disciplined use of cash

26. Edwards is Poised for Long-Term Success
 Patient-centric culture
 Leading edge research and development
 Industry leading competitive positions
 Trusted relationships with clinicians, regulators and payors globally
 Strong geographic diversification
 Nimble, adaptive business model
 Focused strategy to deliver patient benefit and shareholder value
269/16/16

28. Non-GAAP Reconciliations
9/16/16 28

29. EDWARDS LIFESCIENCES CORPORATION
Non-GAAP Financial Information
Management considers free cash flow to be a liquidity measure which provides useful information to management and investors about
the amount of cash generated by business operations, after deducting payments for capital expenditures, which cash can then be used
for strategic opportunities or other business purposes including, among others, investing in the Company's business, making strategic
acquisitions, strengthening the balance sheet, and repurchasing stock.
Non-GAAP financial measures are not prepared in accordance with GAAP; therefore, the information is not necessarily comparable to
other companies and should be considered as a supplement to, and not as a substitute for, or superior to, the corresponding measures
calculated in accordance with GAAP. A reconciliation of non-GAAP historical financial measures to the most comparable GAAP measure
is provided in the tables below.
Intellectual Property Litigation Expenses - The Company incurred intellectual property litigation expenses of $9.1 million and $1.0
million in the second quarter of 2016 and 2015, respectively.
Foreign Exchange - Fluctuations in exchange rates impact the comparative results and sales growth rates of the Company's underlying
business. Management believes that excluding the impact of foreign exchange rate fluctuations from its sales growth provides investors
a more meaningful comparison to historical financial results. The impact of foreign exchange rate fluctuations has been detailed in the
"Unaudited Reconciliation of Sales by Product Group and Region."
Purchased In-process Research and Development - The Company recorded a $34.5 million charge in the second quarter of 2016
related to the acquisition of technology for use in its transcatheter heart valve programs.
Amortization of Intellectual Property - The Company recorded amortization expense of $1.9 million and $1.7 million in the second
quarter of 2016 and 2015, respectively, related to intellectual property.
To supplement the consolidated financial results prepared in accordance with Generally Accepted Accounting Principles (“GAAP”), the
Company uses non-GAAP historical financial measures. The Company uses the term “underlying” when referring to non-GAAP sales
information, which excludes foreign exchange fluctuations, adjustments for discontinued and acquired products, and sales return
reserves associated with transcatheter heart valve therapy ("THVT") product upgrades; and “adjusted” to also exclude amortization of
intellectual property, gains and losses from significant investments, impairments, litigation, and business development transactions.
Guidance for sales and sales growth rates is provided on an "underlying basis," and projections for diluted earnings per share, net
income and growth, gross profit margin, taxes, and free cash flow are also provided on a non-GAAP basis as adjusted for the items
identified below due to the inherent difficulty in forecasting such items. The Company is not able to provide a reconciliation of the non-
GAAP guidance to comparable GAAP measures due to the unknown effect, timing, and potential significance of special charges or
gains, and management's inability to forecast charges associated with future transactions and initiatives. Management does not consider
the excluded items or adjustments as part of its day-to-day business or reflective of the core operational activities of the Company as
they result from transactions outside the ordinary course of business.
Management uses non-GAAP financial measures internally for strategic decision making, forecasting future results, and evaluating
current performance. These non-GAAP financial measures are used in addition to and in conjunction with results presented in
accordance with GAAP and reflect an additional way of viewing aspects of the Company's operations by investors that, when viewed with
its GAAP results, provide a more complete understanding of factors and trends affecting the Company's business.
The items described below are adjustments to the GAAP financial results in the reconciliations that follow:
THVT Sales Return Reserve and Related Costs - In the second quarter of 2015, the Company recorded a net sales return reserve and
related costs, primarily related to inventory reserves, of $15.9 million related to estimated THVT product returns expected upon
introduction of next-generation THVT products.

30. EDWARDS LIFESCIENCES CORPORATION
Unaudited Reconciliation of GAAP to Non-GAAP Financial Information
RECONCILIATION OF GAAP TO ADJUSTED NET INCOME
(in millions, except per share data) 2016 2015
GAAP Net Income 126.6$ 112.7$
Growth Rate % 12.3%
Non-GAAP adjustments: (A)
THVT sales returns reserve and related costs - 15.9
Intellectual property litigation expenses 9.1 1.0
Amortization of intellectual property 1.9 1.7
Purchased in-process research and development 34.5 -
Provision for income taxes
Tax effect on reconciling items (B)
(7.5) (5.6)
Non-GAAP Net Income 164.6$ 125.7$
Growth Rate % 30.9%
RECONCILIATION OF GAAP TO ADJUSTED DILUTED EARNINGS PER SHARE
GAAP Diluted Earnings Per Share (C)
0.58$ 0.51$
Growth Rate % 13.7%
Non-GAAP adjustments:
(A), (D)
THVT sales returns reserve and related costs - 0.05
Intellectual property litigation expenses 0.03 -
Amortization of intellectual property 0.01 0.01
Purchased in-process research and development 0.14 -
Adjusted Diluted Earnings Per Share 0.76$ 0.57$
Growth Rate % 33.3%
Note: Numbers may not calculate due to rounding.
(D) All amounts are tax effected, calculated based upon the impact of the relevant tax jurisdictions' statutory tax rates on
the Company's estimated annual effective tax rate, or discrete rate in the quarter, as applicable.
Three Months Ended
June 30,
(A) See description of non-GAAP adjustments on the Non-GAAP Financial Information page.
(B) The tax effect on non-GAAP adjustments is calculated based upon the impact of the relevant tax jurisdictions' statutory
tax rates on the Company's estimated annual effective tax rate, or discrete rate in the quarter, as applicable.
(C) All per share amounts for the prior years were adjusted for the December 11, 2015 two-for-one stock split.

31. EDWARDS LIFESCIENCES CORPORATION
Unaudited Reconciliation of Sales by Product Group and Region
($ in millions)
Sales by Product Group (YTD) 2Q 2016 2Q 2015 Change
GAAP
Growth
Rate*
Sales Return
Reserve
2Q 2016
Underlying
Sales
Sales Return
Reserve FX Impact
2Q 2015
Underlying
Sales
Underlying
Growth Rate *
Transcatheter Heart Valve Therapy 418.6$ 281.4$ 137.2$ 48.7% -$ 418.6$ 5.0$ 2.0$ 288.4$ 45.1%
Surgical Heart Valve Therapy 198.7 204.0 (5.3) (2.6%) - 198.7 - 1.5 205.5 (3.3%)
Critical Care 142.0 131.4 10.6 8.0% - 142.0 - 1.7 133.1 6.7%
Total Sales 759.3$ 616.8$ 142.5$ 23.1% -$ 759.3$ 5.0$ 5.2$ 627.0$ 21.1%
* Numbers may not calculate due to rounding.
2015 Adjusted2016 Adjusted

32. EDWARDS LIFESCIENCES CORPORATION
Unaudited Reconciliation of Sales by Product Group
($ in millions)
Sales by Product Group (YTD) 2015 2014 Change
GAAP
Growth
Rate*
Sales Returns
Reserve
2014
Underlying
Sales
Sales Returns
Reserve FX Impact
2013
Underlying
Sales
Underlying
Growth Rate *
Transcatheter Heart Valves 1,180.3$ 943.6$ 236.7$ 25.1% 1.7$ 1,182.0$ (14.1)$ (71.2)$ 858.3$ 37.7%
Surgical Heart Valve Therapy 785.0 826.1 (41.1) (5.0%) - 785.0 - (59.7) 766.4 2.5%
Critical Care 528.4 553.2 (24.8) (4.5%) - 528.4 - (41.3) 511.9 3.2%
Total Sales 2,493.7$ 2,322.9$ 170.8$ 7.4% 1.7$ 2,495.4$ (14.1)$ (172.2)$ 2,136.6$ 16.8%
* Numbers may not calculate due to rounding.
2015 Adjusted 2014 Adjusted

33. EDWARDS LIFESCIENCES CORPORATION
Unaudited Reconciliation of Sales by Product Group
($ in millions)
Sales by Product Group (YTD) 2014 2013 Change
GAAP
Growth
Rate*
Sales Returns
Reserve
2014
Underlying
Sales
Sales Returns
Reserve FX Impact
2013
Underlying
Sales
Underlying
Growth Rate *
Transcatheter Heart Valves 943.6$ 707.7$ 235.9$ 33.3% (14.1)$ 929.5$ 14.1$ (0.5)$ 721.3$ 28.9%
Surgical Heart Valve Therapy 826.1 801.2 24.9 3.1% - 826.1 - (10.5) 790.7 4.5%
Critical Care 553.2 536.6 16.6 3.1% - 553.2 - (12.0) 524.6 5.5%
Total Sales 2,322.9$ 2,045.5$ 277.4$ 13.6% (14.1)$ 2,308.8$ 14.1$ (23.0)$ 2,036.6$ 13.3%
* Numbers may not calculate due to rounding.
2014 Adjusted 2013 Adjusted

34. EDWARDS LIFESCIENCES CORPORATION
Unaudited Reconciliation of Sales by Product Group
($ in millions)
Sales by Product Group (YTD) 2013 2012 Change
GAAP
Growth
Rate*
Sales Returns
Reserve
2013
Underlying
Sales FX Impact
2012
Underlying
Sales
Underlying
Growth Rate *
Transcatheter Heart Valves 707.7$ 552.1$ 155.6$ 28.2% 14.1$ 721.8$ 5.2$ 557.3$ 29.5%
Surgical Heart Valve Therapy 801.2 787.5 13.7 1.7% - 801.2 (20.2) 767.3 0.0
Critical Care 536.6 560.0 (23.4) (4.2%) - 536.6 (28.9) 531.1 1.0%
Total Sales 2,045.5$ 1,899.6$ 145.9$ 7.7% 14.1$ 2,059.6$ (43.9)$ 1,855.7$ 10.8%
* Numbers may not calculate due to rounding.
2013 Adjusted 2012 Adjusted