1. Q1 FY2014 earnings investor/analyst call October 31, 2013 Copyright 2013, Cardinal Health. All rights reserved. CARDINAL HEALTH, the Cardinal Health LOGO and ESSENTIAL TO CARE are trademarks or registered trademarks of Cardinal Health. All other marks are the property of their respective owners.

2. Forward-looking statements and GAAP reconciliation Cautions Concerning Forward-Looking Statements This presentation contains forward-looking statements addressing expectations, prospects, estimates and other matters that are dependent upon future events or developments. These statements may be identified by words such as "expect," "anticipate," "intend," "plan," "believe," "will," "should," "could," "would," "project," "continue," "likely," and similar expressions, and include statements reflecting future results or guidance, statements of outlook and expense accruals. These matters are subject to risks and uncertainties that could cause actual results to differ materially from those projected, anticipated or implied. These risks and uncertainties include competitive pressures in Cardinal Health's various lines of business; the ability to achieve the expected benefits from the AssuraMed acquisition; the timing of generic and branded pharmaceutical introductions and the frequency or rate of pharmaceutical price appreciation or deflation; the non-renewal, early termination or a default under one or more key customer or supplier arrangements or changes to the terms of or level of purchases under those arrangements; uncertainties due to government health care reform including federal health care reform legislation; changes in the distribution patterns or reimbursement rates for health care products and services; and the effects of any investigation or action by any regulatory authority; changes in the cost of commodities such as oil-based resins, cotton, latex and diesel fuel. Cardinal Health is subject to additional risks and uncertainties described in Cardinal Health's Form 10-K, Form 10-Q and Form 8-K reports and exhibits to those reports. This presentation reflects management's views as of October 31, 2013. Except to the extent required by applicable law, Cardinal Health undertakes no obligation to update or revise any forwardlooking statement. Cardinal Health provides definitions and reconciling information at the end of this presentation and on its Investors page at www.cardinalhealth.com. An audio replay of the conference call will be available on the Investors page at www.cardinalhealth.com.2 Copyright 2013, Cardinal Health. All rights reserved. CARDINAL HEALTH, the Cardinal Health LOGO and ESSENTIAL TO CARE are trademarks or registered trademarks of Cardinal Health. All other marks are the property of their respective owners. 3. Q1 FY2014 financial summary GAAP Basis ($M) Revenue % change Operating earnings % change Ratio to revenue Earnings from continuing ops % change Ratio to revenue Diluted EPS from continuing ops % changeQ1 FY13 $25,889 (3)% $457 11% 1.76% $272 15% 1.05% $0.79 16%Operating cash flow3Q1 FY14 $24,523 (5)% $471 3% 1.92% $340 25% 1.38% $0.99 25% Q1 FY14 $951Q1 FY13 $568 Copyright 2013, Cardinal Health. All rights reserved. CARDINAL HEALTH, the Cardinal Health LOGO and ESSENTIAL TO CARE are trademarks or registered trademarks of Cardinal Health. All other marks are the property of their respective owners.Non-GAAP Basis ($M) Q1 FY14Q1 FY13$532 13% 2.17% $378 35% 1.54% $1.10 36%$469 6% 1.81% $281 9% 1.08% $0.81 11% 4. Q1 FY2014 Pharmaceutical segment business analysis Q1 FY14 ($M) Revenue Segment profit Segment profit marginQ1 FY13 ($M)% Change$21,813$23,498(7)%$433$4008%1.99%1.70%Highlights: Revenue decreased 7% vs. last year driven by the previously announced expiration of the Express Scripts contract on September 30, 2012 and the Walgreens contract on August 31, 2013. The decline was partially offset by volume growth from new and existing customers Segment profit increased 8%, demonstrating balance across the businesses, with both generic and branded programs showing strong performance Expanded segment profit margin by 29bpsThe sum of the components may not equal the total due to rounding4 Copyright 2013, Cardinal Health. All rights reserved. CARDINAL HEALTH, the Cardinal Health LOGO and ESSENTIAL TO CARE are trademarks or registered trademarks of Cardinal Health. All other marks are the property of their respective owners. 5. Q1 FY2014 Medical segment business analysis Q1 FY14 ($M) Revenue Segment profit Segment profit marginQ1 FY13 ($M)% Change$2,711$2,39313%$106$7443%3.92%3.11%Highlights: Revenue increased primarily due to the recent AssuraMed acquisition. Also realized strong growth in strategic hospital network accounts Segment profit up 43%, driven by: AssuraMed acquisition Planned efficiency initiatives Performance of preferred products portfolio Expanded segment profit margin by 82bpsThe sum of the components may not equal the total due to rounding5 Copyright 2013, Cardinal Health. All rights reserved. CARDINAL HEALTH, the Cardinal Health LOGO and ESSENTIAL TO CARE are trademarks or registered trademarks of Cardinal Health. All other marks are the property of their respective owners. 6. Q1 FY2014 GAAP to non-GAAP reconciliation Q1 FY 2014 Operating Earnings ($M) GAAP Restructuring and employee severance Amortization and other acquisition-related costs1 Impairments and loss on disposal of assets Litigation (recoveries)/charges, net Non-GAAP 1Q1 FY 2013Earnings from Diluted EPS Operating Continuing from Continuing Earnings ($M) Operations ($M) OperationsEarnings from Diluted EPS Continuing from Continuing Operations ($M) Operations$471 11$340 7$0.99 0.02$457 5$272 3$0.79 0.0149310.0928180.051 $5321 $378$1.101 (22) $4691 (13) $281(0.04) $0.81Amortization of acquisition-related intangible assets included in Amortization and other acquisition-related costs are as follows:Amortization of acquisition-related intangible assets$45$28$0.08The sum of the components may not equal the total due to rounding6 Copyright 2013, Cardinal Health. All rights reserved. CARDINAL HEALTH, the Cardinal Health LOGO and ESSENTIAL TO CARE are trademarks or registered trademarks of Cardinal Health. All other marks are the property of their respective owners.$21$13$0.04 7. FY2014 outlook7 Copyright 2013, Cardinal Health. All rights reserved. CARDINAL HEALTH, the Cardinal Health LOGO and ESSENTIAL TO CARE are trademarks or registered trademarks of Cardinal Health. All other marks are the property of their respective owners. 8. Updated FY2014 financial expectations October 31, 2013FY2014 non-GAAP EPS from continuing operations:$3.62 - $3.728 Copyright 2013, Cardinal Health. All rights reserved. CARDINAL HEALTH, the Cardinal Health LOGO and ESSENTIAL TO CARE are trademarks or registered trademarks of Cardinal Health. All other marks are the property of their respective owners. 9. Updated FY14 corporate assumptions October 31, 2013 FY14 outlookFY13 actual343M344.5MInterest and other, net$140M - $150M$108MCapital expenditures$245M - $265M$195M~$180M or ~$0.331$118M or $0.2234.5-36%233.7%3Diluted weighted average shares outstandingAmortization of acquisition-related intangible assets Non-GAAP effective tax rate 1 2 39Includes only acquisitions closed as of September 30, 2013 Represents annual rate. Expected to fluctuate quarterly due to unique items affecting periods. Includes $63M related to favorable settlements in Q1 FY14, which contributed $0.18 to Non-GAAP EPS Includes $64M related to a favorable settlement in Q3 FY13, which contributed $0.18 to Non-GAAP EPS Copyright 2013, Cardinal Health. All rights reserved. CARDINAL HEALTH, the Cardinal Health LOGO and ESSENTIAL TO CARE are trademarks or registered trademarks of Cardinal Health. All other marks are the property of their respective owners. 10. 10 Copyright 2013, Cardinal Health. All rights reserved. CARDINAL HEALTH, the Cardinal Health LOGO and ESSENTIAL TO CARE are trademarks or registered trademarks of Cardinal Health. All other marks are the property of their respective owners. 11. Q1 FY2014 trailing five quarters and GAAP to Non-GAAP reconciliation statements11 Copyright 2013, Cardinal Health. All rights reserved. CARDINAL HEALTH, the Cardinal Health LOGO and ESSENTIAL TO CARE are trademarks or registered trademarks of Cardinal Health. All other marks are the property of their respective owners. 12. Q1 FY2014 segment analysis Pharmaceutical segment Q1 FY13Q2 FY13Q3 FY13Q4 FY13Q1 FY1423,49822,74722,07022,78321,813400441498395433Q1 FY13Q2 FY13Q3 FY13Q4 FY13Q1 FY14Revenue ($M)2,3932,4872,4842,6972,711Segment Profit ($M)7494100104106Revenue ($M)Segment Profit ($M)Medical segment12 Copyright 2013, Cardinal Health. All rights reserved. CARDINAL HEALTH, the Cardinal Health LOGO and ESSENTIAL TO CARE are trademarks or registered trademarks of Cardinal Health. All other marks are the property of their respective owners. 13. Cardinal Health, Inc. and Subsidiaries GAAP / Non-GAAP Reconciliation(in millions, except per common share amounts) GAAP Restructuring and employee severance Amortization and other acquisition-related costs Impairments and loss on disposal of assets Litigation (recoveries)/charges, net Non-GAAPGAAP Restructuring and employee severance Amortization and other acquisition-related costs Impairments and loss on disposal of assets Litigation (recoveries)/charges, net Non-GAAPOperating Earnings Before Earnings Incom e Taxes Operating Grow th and Discontinued Earnings Rate Operations $ 471 3% $ 442 11 11 49 49 1 1 $ 532 13 % $ 503$$457 5 28 1 (22) 46911 % $6% $First Quarter 2014 Provision Earnings Earnings from for from Continuing Incom e Continuing Operations Taxes Operations Grow th Rate $ 102 $ 340 25 % 4 7 18 31 1 $ 124 $ 378 35 %439 $ 5 28 1 (22) 451 $The sum of the components may not equal the total due to rounding. We apply varying tax rates depending on the items nature and tax jurisdiction w here it is incurred.First Quarter 2013 167 $ 272 2 3 10 18 1 (9) (13) 170 $ 281Diluted EPS Diluted EPS from from Continuing Continuing Operations Operations Grow th Rate $ 0.99 25 % 0.02 0.09 $ 1.10 36 %15 % $9% $0.79 0.01 0.05 (0.04) 0.8116 %11 % 14. Cardinal Health, Inc. and Subsidiaries GAAP / Non-GAAP Reconciliation First Quarter (in millions) GAAP return on equity Non-GAAP return on equity Net earnings Restructuring and employee severance, net of tax, in continuing operations Amortization and other acquisition-related costs, net of tax, in continuing operations Impairments and loss on disposal of assets, net of tax, in continuing operations Litigation (recoveries)/charges, net, net of tax, in continuing operations Adjusted net earnings AnnualizedTotal shareholders' equity Divided by average shareholders' equity Non-GAAP return on equity2013 17.3 %2014 22.1 %$$ $$ $$339 7 31 1 378 1,512 First Quarter 2014 6,297 6,136 24.7 %We apply varying tax rates depending on the items nature and tax jurisdiction w here it is incurred.$ $$Fourth Quarter 2013 5,975$ $271 3 18 1 (13) 280 1,120 First Quarter 2013 6,281 6,263 17.9 %$Fourth Quarter 2012 6,244 15. Cardinal Health, Inc. and Subsidiaries GAAP / Non-GAAP Reconciliation First Quarter (in millions) GAAP effective tax rate from continuing operations 1 Non-GAAP effective tax rate from continuing operations Earnings before income taxes and discontinued operations Restructuring and employee severance Amortization and other acquisition-related costs Impairments and loss on disposal of assets Litigation (recoveries)/charges, net Adjusted earnings before income taxes and discontinued operations Provision for income taxes Restructuring and employee severance tax benefit Amortization and other acquisition-related costs tax benefit Impairments and loss on disposal of assets tax benefit Litigation (recoveries)/charges, net tax expense Adjusted provision for income taxes2013 38.1 %2014 23.2 %$442 11 49 1 503$ $102 4 18 124$Non-GAAP effective tax rate from continuing operations 1$439 5 28 1 (22) 451$ $167 2 10 (9) 170$37.8 %24.7 % First Quarter20132014 Debt to total capital Net debt to capital Current portion of long-term obligations and other short-term borrow ings Long-term obligations, less current portion Debt Cash and equivalents Net debt Total shareholders' equity Capital Net debt to capital 131 %38 %$ $ $ $190 3,693 3,883 (2,753) 1,130 6,297 7,427 15 %$ $ $ $471 2,408 2,879 (2,440) 439 6,281 6,720 7%The settlement of federal and state tax controversies favorably impacted, for fiscal 2014 first quarter, both the effective tax rate from continuing operations and nonGAAP effective tax rate from continuing operations by 14.3 and 12.6 percentage points, respectively. The fiscal 2014 first quarter non-GAAP effective tax rate from continuing operations, excluding the impact of the tax settlement, w ould have been 37.3%. We apply varying tax rates depending on the items nature and tax jurisdiction w here it is incurred. 16. Cardinal Health, Inc. and Subsidiaries GAAP / Non-GAAP Reconciliation Fiscal Year 2013 62.3 %(in millions) GAAP effective tax rate from continuing operations 1 Non-GAAP effective tax rate from continuing operations Earnings/(loss) before income taxes and discontinued operations Restructuring and employee severance Amorization and other acquisition-related costs Impairments and loss on disposal of assets Litigation (recoveries)/charges, net Adjusted earnings before income taxes and discontinued operations Provision for income taxes Restructuring and employee severance tax benefit Amortization and other acquisition-related costs tax benefit Impairments and loss on disposal of assets tax benefit Litigation (recoveries)/charges, net tax expense Adjusted provision for income taxes Non-GAAP effective tax rate from continuing operations 1$$ $$888 71 158 859 (38) 1,938 553 27 52 37 (15) 654 33.7 %We apply varying tax rates depending on the items nature and tax jurisdiction w here it is incurred. 1For fiscal 2013, the revaluation of the deferred tax liability and related interest on unrepatriated foreign earnings as a result of an agreement w ith tax authorities reduced, for fiscal 2013, both the effective tax rate from continuing operations and non-GAAP effective tax rate from continuing operations by 7.2 and 3.3 percentage points, respectively. The fiscal 2013 non-GAAP effective tax rate from continuing operations, excluding the impact of the tax settlement, w ould have been 37.0%. 17. Cardinal Health, Inc. and Subsidiaries GAAP / Non-GAAP Reconciliation First Quarter (in millions) Distribution, selling, general and administrative expenses Restructuring and employee severance Amortization and other acquisition-related costs Impairments and loss on disposal of assets Litigation (recoveries)/charges, net Total GAAP operating expenses GAAP operating expense grow th rate Restructuring and employee severance Amortization and other acquisition-related costs Impairments and loss on disposal of assets Litigation recoveries/(charges), net Total Non-GAAP operating expenses Non-GAAP operating expense grow th rate20132014 $$$732 11 49 1 793 13.0 % (11) (49) (1) 732 6.1 %$$690 5 28 1 (22) 702$(5) (28) (1) 22 690 18. Cardinal Health, Inc. and Subsidiaries GAAP / Non-GAAP Reconciliation First Quarter (in millions)20132014Revenue$24,523$GAAP operating earnings Restructuring and employee severance Amortization and other acquisition-related costs Impairments and loss on disposal of assets Litigation (recoveries)/charges, net Non-GAAP operating earnings$471 11 49 1 532$GAAP operating earnings m argin rate Non-GAAP operating earnings m argin rate$1.92 % 2.17 % 36bp$25,889 457 5 28 1 (22) 469 1.76 % 1.81 %The sum of the components may not equal the total due to rounding. Forw ard-Looking Non-GAAP Financial Measures We present non-GAAP earnings from continuing operations and non-GAAP effective tax rate from continuing operations (and presentations derived from these financial measures, including per share calculations) on a forw ard-looking basis. The most directly comparable forw ard-looking GAAP measures are earnings from continuing operations and effective tax rate from continuing operations. We are unable to provide a quantitative reconciliation of these forw ard-looking non-GAAP measures to the most directly comparable forw ard-looking GAAP measures because w e cannot reliably forecast restructuring and employee severance, amortization and other acquisition-related costs, impairments and loss on disposal of assets and litigation (recoveries)/charges, net, w hich are difficult to predict and estimate and are primarily dependent on future events. Please note that the unavailable reconciling items could significantly impact our future financial results. 19. Cardinal Health, Inc. and Subsidiaries Schedule of Notable Item s First Quarter (in millions, except per common share amounts) Restructuring and employee severance Tax benefit Restructuring and em ployee severance, net of tax20132014 $$(11) 4 (7)$(5) 2 (3)$(0.02)$(0.01)$$$(45) 17 (28)$(21) 8 (13)$(0.08)$(0.04)$(3)$(7)$1 (2)$2 (5)Decrease to diluted EPS from continuing operations$(0.01)$(0.01)Total amortization and other acquisition-related costs 1$(49)$(28)$Decrease to diluted EPS from continuing operations Am ortization and Other Acquisition-Related Costs Amortization of acquisition-related intangible assets Tax benefit Am ortization of acquisition-related intangible assets, net of tax Decrease to diluted EPS from continuing operations Other acquisition-related costs Tax benefit Other acquisition-related costs, net of taxTax benefit11018 1$(31)$(18)$(0.09)$(0.05)$$-$(1) (1)Decrease to diluted EPS from continuing operations$-$-Litigation recoveries/(charges), net Tax expense Litigation recoveries/(charges), net, net of tax$$$(1) (1)22 (9) 13Increase to diluted EPS from continuing operations$-$Total am ortization and other acquisition-related costs, net of tax Decrease to diluted EPS from continuing operations 1 Impairments and loss on disposal of assets Tax benefit Im pairm ents and loss on disposal of assets, net of taxWeighted-average num ber of diluted shares outstanding 1The sum of the components may not equal the total due to rounding. We apply varying tax rates depending on the items nature and tax jurisdiction w here it is incurred.$344$0.04 344 20. Cardinal Health, Inc. and Subsidiaries Asset Managem ent Analysis First Quarter 20132014 Debt to total capital Net debt to capital38 % 15 % 22.1 % 24.7 %Effective tax rate from continuing operations 1 Non-GAAP effective tax rate from continuing 1operations 117.3 % 17.9 %23.2 %Return on equity Non-GAAP return on equity31 % 7%38.1 %24.7 %37.8 %The settlement of federal and state tax controversies favorably impacted, for fiscal 2014 first quarter, both the effective tax rate from continuing operations and nonGAAP effective tax rate from continuing operations by 14.3 and 12.6 percentage points, respectively. The fiscal 2014 first quarter non-GAAP effective tax rate from continuing operations, excluding the impact of the tax settlement, w ould have been 37.3%. Refer to the GAAP/Non-GAAP reconciliation for definitions and calculations supporting the Non-GAAP balances. Given the expiration of our pharmaceutical distribution contract w ith Walgreen Co. on August 31, 2013, w e do not believe that days sales outstanding, days inventory on hand, days payable outstanding and net w orking capital days provide meaningful measures of our w orking capital performance in fiscal 2014 first quarter. 21. Cardinal Health, Inc. and SubsidiariesDefinitions Debt: long-term obligations plus short-term borrow ings. Debt to Total Capital: debt divided by (debt plus total shareholders equity). Interest and Other, net: other (income)/expense, net plus interest expense, net. Net Debt: a Non-GAAP measure defined as debt minus (cash and equivalents). Net Debt to Capital: a Non-GAAP measure defined as net debt divided by (net debt plus total shareholders equity). Non-GAAP Diluted EPS from Continuing Operations: non-GAAP earnings from continuing operations divided by diluted w eighted-average shares outstanding. Non-GAAP Earnings from Continuing Operations: earnings from continuing operations excluding (1) restructuring and employee severance1, (2) amortization and other acquisition-related costs 2, (3) impairments and loss on disposal of assets 3 and (4) litigation (recoveries)/charges, net4, each net of tax. Non-GAAP Effective Tax Rate from Continuing Operations: (provision for income taxes adjusted for (1) restructuring and employee severance, (2) amortization and other acquisition-related costs, (3) impairments and loss on disposal of assets and (4) litigation (recoveries)/charges, net) divided by (earnings before income taxes and discontinued operations adjusted for the same four items). Non-GAAP Operating Earnings: operating earnings excluding (1) restructuring and employee severance, (2) amortization and other acquisition-related costs, (3) impairments and loss on disposal of assets and (4) litigation (recoveries)/charges, net. Non-GAAP Operating Earnings Margin Rate: current period non-GAAP operating earnings divided by revenue. Non-GAAP Operating Expenses: operating expenses excluding (1) restructuring and employee severance, (2) amortization and other acquisition-related costs, (3) impairments and loss on disposal of assets and (4) litigation (recoveries)/charges, net. Non-GAAP Return on Equity: (annualized net earnings excluding (1) restructuring and employee severance, (2) amortization and other acquisition-related costs, (3) impairments and loss on disposal of assets and (4) litigation (recoveries)/charges, net, each net of tax) and divided by average shareholders equity. Return on Equity: annualized net earnings divided by average shareholders equity. Revenue Mix: segment revenue divided by total segment revenue for all segments. Segm ent Profit: segment revenue minus (segment cost of products sold and segment distribution, selling, general and administrative expenses). Segm ent Profit Margin: segment profit divided by segment revenue. Segm ent Profit Mix: segment profit divided by total segment profit for all segments. 1Programs w hereby Cardinal Health fundamentally changes its operations such as closing and consolidating facilities, moving manufacturing of a product to another location, production or business process sourcing, employee severance (including rationalizing headcount or other significant changes in personnel) and realigning operations (including substantial realignment of the management structure of a business unit in response to changing market conditions).2Costs that consist primarily of amortization of acquisition-related intangible assets, transaction costs, integration costs and changes in the fair value of contingent consideration obligations.3Asset impairments and losses from the disposal of assets not eligible to be classified as discontinued operations are classified w ithin impairments and loss on disposal of assets w ithin the condensed consolidated statements of earnings.4Loss contingencies related to litigation and regulatory matters and income from favorable resolution of legal matters.