RECONCILIATION OF GAAP TO NON-GAAP FIGURES Net Income 2000-2002 EBITDA 2002 (a) Difference between GAAP and non-GAAP figures relates primarily to the tax benefit of the perfusion services business divestiture and the tax impacts of the WorldHeart impairment charge and the legal settlement. S31 Edwards Lifesciences Corporation As Reported As Adjusted (GAAP) (Non-GAAP) Net income $ 55.7 $ 82.9 Interest expense, net 11.5 11.5 Provision for income taxes (a) 0.3 29.1 Depreciation and amortization 40.4 40.4 EBITDA $ 107.9 $ 163.8 2002 2001 2000 Net income, as reported (GAAP) $ 55.7 $ (11.4) $ (271.7) Reconciling items, net of tax Tax benefit of perfusion services divestiture (see Note 14) (20.1) — — WorldHeart impairment charge (see Note 4) 54.1 — — Legal settlement, net (see Note 15) (9.1) — — Non-recurring spin-off expenses (see Non-recurring Spin-off Expenses  in the MD&A) 2.3 — 11.0 Business divestitures, net (see Note 4) — 56.3 258.0 Other non-recurring charges (see Note 4) — 8.9 — Asset dispositions and write downs, net (see Note 13) — 3.9 — Breaking of interest rate swap agreement (see Interest Expense,  net in the MD&A) — 3.7 — Adoption of SFAS No. 133 (see Note 2) — 1.5 — Other non-recurring charges, personnel costs and charges for  exit activities (see Note 4) — — 62.7 Costs associated with being an independent public company  and interest expense associated with the Company’s future debt facilities — — Adjusted net income (non-GAAP) $ 82.9 $ 62.9 $ 50.8