Background-Many studies have focused on the prognostic power of peak oxygen uptake ((V)over dotO(2)) in patients with chronic heart failure, but maximal exercise testing is not without risk. The purpose of the present study was, therefore, to assess the prognostic significance of the steepness of changes in ventilation and carbon dioxide output ((V)over dotCO(2),) during submaximal exercise in comparison with (V)over dotO(2). Methods and Results-The study population consisted of 284 adult heart transplant candidates who pet-formed a graded maximal bicycle ergometer test with respiratory gas analysis. Using the respiratory data up to a gas exchange ratio of 1.0, 3 submaximal slopes were calculated in each patient. During follow-up (median, 1.33 years), 57 patients died and 149 had greater than or equal to 1 cardiovascular event. When using Cox proportional hazards analysis, both peak (V)over dotO(2) and submaximal respiratory slopes predicted outcome before and after accounting for age, sex, and body mass index. However, whereas the prognostic power of peak iio, was independent of submaximal respiratory data, the prognostic significance of the slopes was lost after controlling for peak (V)over dotO(2),. Stepwise regression analysis even selected peak (V)over dotO(2), as an independent prognostic index among the following factors: cause of heart failure, ejection fraction, pulmonary vascular resistance, natremia, and the forced expiratory volume in 1 s. Conclusions-Respiratory data during submaximal exercise are significant predictors of outcome in patients with chronic heart failure, but their prognostic power is inferior to that of peak (V)over dotO(2) However, these data may be useful when maximal exercise is contraindicated or not achievable.