35th Annual J.P. MorganHealthcare Conference

Milton Johnson Chairman & CEO

Sam Hazen President & COO

This presentation may contain certain forward-looking statements provided by Company management. These statements are intended to be covered by the safe-harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements include all statements that do not relate solely to historical or current facts, including statements regarding future operations, financial results, cash flows, costs and cost management initiatives, capital structure management, growth rates, and operational and strategic initiatives, and can also be identified by the use of words like “may,” “believe,” “will,” “expect,” “project,” “estimate,” “anticipate,” “intend,” “plan,” “initiative,” “continue” or words or phrases of similar meaning. These forward-looking statements speak only as of the date hereof and are based on our current plans and expectations and are subject to a number of known and unknown uncertainties and risks, many of which are beyond our control. These risks and uncertainties are described under headings such as “Risk Factors” in our annual report on Form 10-K for the year ended December 31, 2015 and other reports filed with the Securities and Exchange Commission. As a consequence, current plans, anticipated actions and future financial position and results of operations may differ significantly from those expressed in any forward-looking statements in today’s presentation. You are cautioned not to unduly rely on such forward-looking statements when evaluating the information presented and we do not intend to update any of these forward-looking statements.

The presentation may contain certain non-GAAP measures, including Adjusted EBITDA. The Company’s earnings releases for the year ended December 31, 2015 and quarter and nine months ended September 30, 2016 located on the Company’s investor relations page at www.hcahealthcare.com, include reconciliations of certain non-GAAP financial measures with the most directly comparable financial measure calculated in accordance with GAAP. These non-GAAP financial measures should not be considered alternatives to the GAAP financial measures.

References to “Company” used herein refer to HCA Holdings, Inc. and its affiliates, unless otherwise stated or indicated by context.

Forward Looking Statements andNon-GAAP Financial Measures

2

Acute CareAmbulatory

ServicesAccess Centers Physicians

169

44k

Hospitals

Licensed Beds

70

56

Urgent Care Centers

FSERs

117

16

ASCs

GI Centers

35k

Physician Clinics

Active Medical Staff

~830

Diversified mix of facilities, services, and settings

3

Attractive and diversified asset portfolio

Assets located in 16*

of the 25 fastest growing

U.S. markets with >500K population

4

Nashville

Tampa/ St. Pete

Denver

Austin

Kansas City

SouthFlorida

LasVegas

Richmond

San Jose

Salt Lake

San Antonio

Houston

NorthernVirginia

Jacksonville

Charleston

Myrtle Beach

SWVA

El Paso

Orlando

SouthernCalifornia

CentralLondon

OklahomaCity

Boise

McAllen

DFW

Atlanta

* 16 HCA markets ranked in the top 25 fastest growing U.S. markets outlined in white

Wichita

Sarasota

5

Committed to industry leading quality and service

Growth through patient & physician relationships

A well-informed response to the market environment

Industry leading efficiency

Development of future leaders

Strategic guiding principles

Strong and improving market share

HCA market share ranks 1st or 2nd in

26 of 38 studied markets

6

Nashville

34%

Tampa/ St. Pete

30%

Denver

32%

DFW

18%Austin

40%

Kansas City

23%

SouthFlorida

24%

Las Vegas

32%

Richmond

37%

San Jose

19%

Salt Lake

20%

San Antonio

35%

Houston

19%

NorthernVirginia

11%

Jacksonville

20%

Charleston

25%

Myrtle Beach

37%

SWVA

31%

El Paso

29%Orlando

10%

So Cal

24%

McAllen

15%

Wichita

36%

• Same Store. Composition Market (In Market + In Migration)• Statistics are based on inpatient discharge data for the most recently available

periods for 38 defined markets.• Analysis includes data through 1Q’16 (31 markets), 4Q 2015 (6 markets), and 3Q 2015

(1 market); Source = State data via Stratasan

Consistent top line growth

7.2%$39.7B

Revenue

2.5%1.4M

Surgeries

7.1%8.1M

EmergencyRoom Visits

4.8%3.1M

EquivalentAdmissions

3.8%1.9M

Admissions

Percentages represent 5 year CAGR: 2010 – 2015Values represent 2015

7

EBITDA & EPS Growth

$5.0

$5.5

$6.0

$6.5

$7.0

$7.5

$8.0

$8.5

2012 2013 2014 2015

Ad

just

ed E

BIT

DA

in

Bil

lio

ns

6.6% 12.7%Adj EBITDA Diluted EPS

$6.5B

$7.9B

$1

$2

$3

$4

$5

$6

2012 2013 2014 2015

Dil

ute

d E

PS

$4.99

3 YRCAGR

8

$3.49

Cash Flows provided by Operations and primary uses of Cash Flows from March 2011 IPO through 3Q 2016

$24.0B

9

Deploying a balanced allocation of capital

$8.4BShare

Repurchases

$3.2BSpecial

Dividends

$4.0BAcquisition

Capital

$11.6BCapital

Expenditures

Investing in Growth

Delivering Shareholder Value

Cash Flow from Operations

Local Sustainable

Growth

Operational Excellence

Coordination Across

Continuum

Access and Convenience

ComprehensiveService

Lines

Strong Physician

Relationships

10

Provider system of choice

11

Comprehensive access across the continuum

3

5

3

3

5

7

2

2

12 Hospital Campuses

10 CareNow Urgent Care Centers

17 Imaging Centers

8 Ambulatory Surgery Centers

66 TriStar Medical Group Locations

4 Freestanding ERs

1 Transfer Center

7 Health Parks

Nashville, TN Market:

Innovation

Capital

EconomiesImprove our business

Drive growth

Speed to market

Support execution

12

Leveraging our scale

$0.0 $0.5 $1.0 $1.5 $2.0 $2.5 $3.0 $3.5

SEP 2016YTD

2015

2014

2013

2012

2011

PP&E Acqusition13

Committed to ensuring capacity and access

2017 Pipeline

548 Inpatient Beds

204 ER Beds

$15.6B invested since the 2011 IPO

In Billions

14

Advancing the patient experience

PatientExperience

Partneringwith

Physicians

EngagedEmployees

StrongLeadership

Big Data/Technology

PHYSICIANENGAGEMENT

VOICE

GROWTHTIME

CLINICAL CAPABILITIES15

Partnering with physicians

Growth in individual covered

population, percent change,

2015-2019

Dallas

Denver

Houston

Austin

San AntonioPalm Beach

Jacksonville

Tampa/St Pete

Riverside

Salt Lake City

Nashville

Kansas CityLas Vegas

Miami

Richmond

San Jose

Las Vegas

El Paso

Panhandle

Charleston

Myrtle Beach

16

Less than 0%

0% to 2%

2% to 4%

4% to 6%

6% to 9%

9% to 15%

15% to 20%

20% to 25%

25% to 35%

35% or more

Attractive demand projections

SOURCE: MPACT7.6 R5AASY, McKinsey & Company

DIVERSIFIEDPORTFOLIO

DEEP ANDEXPERIENCEDLEADERSHIP

SCALEFINANCIALSTRENGTH

STRONGOPERATINGCULTURE

17

Sources of differentiation