1. August 2009 Nassib Chamoun, President and CEO Neal Armstrong, CFO

2. 2 Safe Harbor Statement Certain statements in this presentation are forward-looking statements for the purposes of Section 21E of the Securities Exchange Act of 1934, and such statements may involve risks and uncertainties, including statements with respect to: the expected increase in sales of BIS sensors, the potential market for our products, short term and long term strategies and objectives, and expected profitability and positive cash flow in future periods. There are a number of important factors that could cause actual results to differ materially from those indicated by these forward-looking statements including: Our ability to achieve widespread market acceptance of our BIS monitoring technology and to compete with new products or alternative techniques that may be developed by others, including third-party anesthesia monitoring products; Competitive and regulatory risks relating to our ability to successfully develop and introduce enhancements and new products; Risks related to our limited worldwide sales and marketing experience and our ability to develop and implement a successful sales and marketing strategy, including with respect to our own sales force, distributors, OEMs and other sales channels in order to generate meaningful product revenue; The risk that we will not remain profitable if hospitals and anesthesia providers do not buy and use our BIS systems and BIS sensors in sufficient quantities; The risk that cases of awareness with recall during monitoring with the BIS system and/or significant product liability claims could limit market acceptance; and Other factors that could cause our actual results to vary from these forward-looking statements, including without limitation those set forth under the heading “Risk Factors” in our Quarterly Report on Form 10-Q for the fiscal quarter ended July 04, 2009 as filed with the SEC. In addition, the statements in this presentation represent our views only as of today and should not be relied upon as representing our views as of any subsequent date. While we may elect to update forward-looking statements at some point in the future, we specifically disclaim any obligation to do so, even if our estimates change and, therefore, you should not rely on these forward-looking statements as representing our views as of any date subsequent to today. This presentation includes non-GAAP financial measures. These non-GAAP measures are not prepared in accordance with U.S. generally accepted accounting principles. A reconciliation of the non-GAAP financial measures to the most directly comparable GAAP measures, and other information regarding these non-GAAP measures, is available in the Investor Relations section of our website at www.aspectmedical.com.

3. 3 Mission To improve people’s lives by helping medical professionals deliver the best possible patient care through innovative technologies for perioperative management of patients

4. 4 Highlights US BIS revenues stable despite challenging economy, international revenues growing 10+%, operating margins improving Plan to reaccelerate BIS growth through outcomes data emerging from Cleveland Clinic collaboration Business development effort to add high-value complementary products leveraging sales force, customer relationships and outcomes research Aspect-LiDCO US distribution agreement meets these business development objectives, offers revenue growth potential and attractive margins

5. 5 Background Global provider of patient monitoring technology —Headquarters in Norwood, MA —International operations in The Netherlands —Global footprint with 30% of revenue OUS Specialized Selling Organization in the OR —US field organization: 85 —International field & logistics support: 50 Strong US Market presence with BIS Technology —74% of US Operating Rooms have Bispectral Index (BIS) Monitoring —19% of all US procedures utilize BIS in patient care —90%+ market share of brain monitoring procedures with BIS Disposables > 80% of Product Revenue Q2 Product Revenue $25M ($17M US and $8M International) —75% gross margin —(1%) growth year-over year ((2%) US and 1% International) —Non-GAAP Operating Margin $2.1m¹ —Strong balance sheet ¹ Non-GAAP results exclude share-based expense.

6. 6 BIS and Perioperative Outcomes IntraoperativePost-OperativeLong-Term Outcomes BIS monitoring leads to 5-fold reduction on incidence of awareness Less Drug Use Higher Quality & Faster Recovery BIS for optimization of anesthetic management has proven value in the perioperative period with emerging evidence related to long-term outcomes Class I Evidence Preliminary Studies: Deep anesthesia may be associated with long-term complications, including risk of postoperative mortality

7. 7 BIS Monitoring System Patient / setting specific Smart-chip enabled >80% gross margin >80% of Product Revenue Range of alternatives Standalone/OEM integration BISx centric platform

8. 8 Market Opportunity: Worldwide $ Billion market largely untapped Total SitesAnnual Procedures¹ Operating Room87,00050,000,000 Intensive Care60,00020,000,000 TOTAL147,00070,000,000 Current Market Penetration: BIS Monitoring61,0006,300,000 41% 9% Worldwide patients monitored to date34 Million ¹Includes BIS eligible procedures only

9. 9 Cumulative Systems in Place

10. 10 U.S. BIS Adoption Estimates ¹ U.S. News & World Report, July 2008. ² 20 Million Procedures × $15 US Sensor Price Total installed base through Q2 200932,800 % of all U.S. ORs74% % of largest 1,000 hospitals87% % of “America’s Best Hospitals”¹78% Top 150 Accounts84%1.50.21.7 Top 600 Accounts57%2.62.04.6 Active Customers38%3.96.410.3 Non Customers-—9.79.7 Total Market19%3.916.120.0 ProcedureSensor Sales (Millions) PenetrationCurrentPotentialTotal A $300 Million Opportunity² in US Operating Rooms Clinician Adoption Institutional Adoption

11. 11 US BIS Adoption Stable at $66-68M in annual revenue Reasons for slower market —Economic slowdown causing a leveling off in surgical procedure volumes and BIS utilization —Reaching later adopter segment with current value proposition Goal is to reaccelerate US market growth through: —Additional outcomes data from thought leading institutions to enhance the BIS value proposition —Offering clinicians additional products for optimization of perioperative patient management and improved outcomes

12. 12 International Business International is 30% of revenue today Consistent 10%+ growth and goal remains to drive double- digit growth internationally Future areas of opportunity include maximizing existing market presence and expanding into emerging markets - Approximately 25% penetration of international Operating Rooms and 7% of international procedures today - Acceptance for BIS in the EU, greater use of TIVA internationally and BIS is incorporated into medical guidelines - Opportunities in China, India, Korea, Russia and Latin America - Shift to exclusive distribution partners in key markets International continues to be a growth driver for BIS

13. 13 Aspect Medical Goals: Reaccelerate revenue growth through: — Incremental data that demonstrates better patient outcomes — Business development efforts to add complementary innovative products for expansion of Aspect’s value proposition to customers and patients — Continued strong international growth Operating Margin expansion Become the leading provider of value-added technologies for perioperative management of patients

14. 14 Business Development Strategy: Focus on tuck-in acquisitions and agreements that will leverage the salesforce, BIS installed base and relationships with leading hospitals and researchers Targeted ROI of 15%+ High contribution margins due to minimal costs of layering technologies onto the existing company infrastructure Expect acquisitions to be accretive within 12-24 months Now is the time to execute on M&A opportunities due to: — Attractive valuation of prospective deals — Growing focus on critical role of perioperative management and improved patient outcomes — Leverage ASPM’s strong balance sheet to drive increasing returns.

15. Aspect-LiDCO US Distribution Agreement Aspect receives exclusive US distribution rights for the LiDCOrapid advanced hemodynamic monitoring system 10 year agreement term Attractive distributor margins Non-exclusive access to other LiDCO products License for future integration of technologies Deal provides opportunity for LiDCO to realize market potential for the LiDCOrapid Product designed for use during surgical procedures Aspect’s anesthesia-focus field force ideal channel

16. The LiDCOrapid Monitoring System LiDCOrapid Features and Benefits  Provides beat-to-beat data to rapidly detect changes in hemodynamic status  Quick assessment of response to interventions  Easy-to-use system and intuitive user interface  Patient data stored on single use “smart card” The LiDCOrapid advanced hemodynamic monitor provides clinicians with detailed information about a patient’s cardiovascular system It can be used to assess changes in hemodynamic function and guide patient management The LiDCOrapid is designed for use by anesthesia professionals for intraoperative and post-operative monitoring

17. LiDCOrapid and BIS Potential Synergies Shared anesthesia call point creates sales efficiencies, deepens customers relationships Value of both products in higher risk procedures and patients Emerging outcomes research showing potential benefits of multiparameter monitoring and brain-cardiovascular linkages Uses patented algorithm to derive BIS parameter Uses patented PulseCO algorithm to derive hemodynamic parameters Anesthesia call point Physiologic signal: blood pressure wave forms Physiologic signal: EEG Minimally invasive: Utilizes existing arterial line Non-invasive: forehead sensor LiDCOrapid BIS

18. 18 GAAP Quarterly Financial Performance

19. 19 NON GAAP Quarterly Financial Performance

20. 20 Conclusion A global company that provides healthcare professionals with high value products for perioperative and critical care that improve patient outcomes A focus on future growth through: Reacceleration of the US business Continued growth internationally Business development efforts Balance future growth with increasing levels of profitability

21. Medical Device Market Trends

22. Medical Device Daily 10/12/09 Cleveland Clinic Medical Innovation Summit —Healthcare reform will change life for medical innovators, an interesting theme emerged: Innovation is not at the healthcare reform table. Edward Buckley, director of economic policy at the Biotechnology Industry Organization (Washington), said that comparative effectiveness could be an “incredibly powerful tool to help drive forward scientific knowledge.” He added that if done properly … “incredible gift” to society. However … if not done properly, it could be a “detriment of innovation.” Seidenberg said the idea of comparative effectiveness is “truly a double- edged sword.” —To use a specific example, she talked about the National Institute for Health and Clinical Excellence (NICE; London) in the UK. NICE is “an independent organization responsible for providing national guidance on the promotion of good health and the prevention and treatment of ill health.” As Seidenberg described it, however, it is a gatekeeper organization that has the power to say which products the public should or should not have access to – even after the product has received regulatory approval.

23. Comparative Effectiveness Comparative effectiveness quite simply means comparing two or more treatments for a given condition.Comparative effectiveness Comparative effectiveness is increasingly being viewed as a viable way to help drive down spiraling health care costs while continuing to provide quality care. … legislation has been introduced in Congress to establish an ambitious comparative effectiveness program created by the federal government, including establishing the Health Care Comparative Effectiveness Research Institute …