JP Morgan Global Healthcare Conference Milton JohnsonChairman and Chief Executive Officer Bill RutherfordChief Financial Officer Vic CampbellSenior Vice President January 12, 2015, San Francisco, CA

1 1 1 FORWARD-LOOKING STATEMENTS AND NON-GAAP FINANCIAL MEASURES 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 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 in headings such as “Risk Factors” in our annual report on Form 10-K for the year ended December 31, 2013 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, 2013, and for the quarter and nine months ended September 30, 2014, located on the Company’s investor relations page at include reconciliations of the difference between 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.

22 What Differentiates HCA Local Market Strategy & Execution Culture and Values Clinical Excellence Market Diversification Capital Deployment Size and Scale

33 What Differentiates HCA $1.53B of Adjusted EBITDA Growth from 2010 – 2014 Guidance * Estimated 2014 Adjusted EBITDA

% Equivalent Admissions (1) 4.3% Revenue per Equivalent Admission (1) 7.6% Revenues 12.6% Adjusted EBITDA 32.8% Adjusted Net Income Attributable to HCA Holdings, Inc. (2) 36.3% Adjusted Diluted Earnings Per Share (2) (1)Same facility through 09/30/14 compared to prior year period (2)Net income attributable to HCA Holdings, Inc. and diluted earning per share exclude losses (gains) on sales of facilities, losses on retirement of debt and legal claim costs. HCA has leveraged 2% Volume Growth to 36% EPS Growth during YTD 3Q 2014

55 HCA has a diversified portfolio of assets strategically selected in attractive markets…… Salt Lake City Denver Kansas City Miami/Fort Lauderdale/WPB Dallas / Fort Worth San Antonio New Hampshire Western Idaho San Jose Southern California Las Vegas Idaho Falls Myrtle Beach Trident / Charleston Jacksonville North Central Florida Orlando Treasure Coast N-VA Richmond S-VA Augusta Tallahassee Wichita Oklahoma City Central Louisiana Lafayette New Orleans Panhandle El Paso Corpus Christi McAllen Brownsville Terre Haute Frankfort Chattanooga NWGA Atlanta Middle GA Anchorage Nashville Houston Tampa Austin Central London Gold labels indicate top 10 domestic markets by 2013 Adjusted EBITDA.

6 6 6 Attractive Local Market Conditions – Economic Growth Source: Bureau of Economic Analysis. Last updated: September 16, % 9 of HCA’s Top 10 MSAs are growing faster than National GDP Growth of 1.8% 85% 44 of HCA’s 52 MSAs have positive GDP Growth 48% 25 of HCA’s 52 MSAs are growing faster than National GDP Growth of 1.8%

7 7 7 Attractive Local Market Conditions - Unemployment Source: Bureau of Labor Statistics, Barclays Research. 1 Based on BLS published metropolitan unemployment rates, not seasonally adjusted for November Hospital Market Unemployment Rate 32 of HCA’s 52 MSAs with Unemployment Rates Lower than U.S. Rate of 5.5% 1

88 Since the IPO, HCA has continued to invest in our existing markets by improving access and expanding market reach Acquired Hospitals Free Standing Emergency Rooms (FSER) 15 $10.8BCapital Deployed Since AcquiredBeds 3,902 FSERBeds 346 ER Bed Expansions 134 Routine Growth Capital $750M+ Hospital Bed Expansion 1, reflects 2014 Capital – PPE Guidance and October 2014 YTD Capital - Acquisitions

99 HCA’s Sustainable Growth Agenda “Be the Preferred Provider System in the Market” Industry leading quality and service Profitable growth through distinctive MD and patient relationships and value Efficiency levels that continue to lead the industry A well-informed response to evolving market environment Unparalleled development of future leaders

10 Industry leading quality and service Setting the Standard for Clinical Excellence in Support of HCA’s Strategic Agenda o Create Patient-Centered Care Models o Reduce Variation in Care Delivery o Deliver Industry-Leading Outcomes o Set Industry Standards for Care Delivery o Support and Engage Clinicians o Deploy Best-in-Class IT Tools o Gain External Affirmation Generating Value for: Informed consumers with high deductible health plans Informed consumers with high deductible health plans Physicians seeking high quality, efficient places to practice Physicians seeking high quality, efficient places to practice Payers desiring innovative collaboration Payers desiring innovative collaboration Employers managing benefit costs Employers managing benefit costs

11 Access & Convenience Ambulatory Surgery Center Acquisitions Next Generation ER Growth Exchange Contracting Urgent Care CapacityDevelopment Free Standing ER Development Profitable growth through distinctive MD and patient relationships and value

12 Develop Comprehensive Service Lines Trauma Programs Next Generation for Services Cerebrovascular Services Children’s Services Oncology Burn Programs Rehab/ Behavioral Services Profitable growth through distinctive MD and patient relationships and value

13 Patient & Physician Engagement Next Generation for Services Patient Navigation Digital Media/ Marketing Expansion of Physician Services Group (PSG) GME Programs OR of Choice Physician Acquisitions Profitable growth through distinctive MD and patient relationships and value

14 Expand Markets Served Digital Media/ Marketing Next Generation for Services Affiliations Rural Outreach EMS Relationships Transfer Centers Telemedicine Programs Profitable growth through distinctive MD and patient relationships and value

15 Health Reform Impact on 2014 (YTD)  Uninsured admissions down 9.5%  Medicaid admissions up 6.3%  HIX admissions and ED visits increasing by quarter  Full year 2014 Health Reform benefit to Adjusted EBITDA estimated (per October guidance) to be approximately 4% A well-informed response to evolving market environment Uninsured Admissions and Medicaid Admissions - Same Facility; YTD 3Q 2014 compared to YTD 3Q 2013.

16 HCA States: 5 State HIX 15 Federal HIX 5 Medicaid Expansion A well-informed response to evolving market environment 2014 Health Reform Impact % Change in Admissions over Prior Year HCA StatesMedicaidUninsured Expansion37%(56%) Non-Expansion2%(4%) All6.3%(9.5%) 9/30/14 YTD over PY

17 Successful Execution has resulted in Market Share Gains HCA’s Market Share is up 154 bps since 2010 Market Share and Market Demand statistics include 32 of HCA’s markets with state data available through 1Q 2014.

18 Equivalent Admissions and Emergency Room Visits Consistent Volume Growth 9 Months 2014 % Change Equivalent Admits:3.3% ER Visits: 5.5% 5.5% Over PY 3.3% Over PY

19 Acquisitions 1 Cash Flow from Operations Capital Expenditures Special Dividends Share Repurchases 2 $13.7 B $6.6 B $3.1 B $3.2B $3.8B Cash Flow Trends since March 2011 IPO 1Acquisitions through YTD October Share repurchase from IPO through December 2014

20 What Differentiates HCA Local Market Strategy & Execution Culture and Values Clinical Excellence Market Diversification Capital Deployment Size and Scale

JP Morgan Global Healthcare Conference Milton JohnsonChairman and Chief Executive Officer Bill RutherfordChief Financial Officer Vic CampbellSenior Vice President January 12, 2015, San Francisco, CA