Accelerating Innovation at Leica Biosystems

Long-Term Value Creation Through Strategic M&A MARKET Secular growth drivers • Fragmented Higher barriers to entry • Optionality with multi- industry portfolio AND COMPANY • Competitive market position • Strong brand/channel • Consistent revenue visibility •Higher margin businesses. • Cultural fit Leadership assessment AND VALUATION • Focus on ROIC • DBS opportunities • Sustainability • Synergies with DHR OpCos Combination of value & growth deals COMPOUNDING RETURNS OVER TIME Selectively pursuing value creation opportunities DANAHER

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