Investor Presentaiton

34 Non-GAAP Reconciliations Sales Growth, Core Sales Growth by Segment and Base Business Core Sales Growth Total sales growth (GAAP) Impact of: Acquisitions/divestitures Currency exchange rates Core sales growth (non-GAAP) Impact of COVID-19 related testing Base business core sales growth (non-GAAP) % Change Year Ended December 31, 2022 vs. Comparable 2021 Period Segments Total Company Biotechnology Life Sciences Diagnostics 7.0% 2.0% 10.0 % 10.0 % Environmental & Applied Solutions 4.0 % (1.5)% (0.5)% (5.5)% (0.5)% 4.0% 9.5% 4.5 % 6.0% 5.0 % 4.0 % 0.5% 3.5 % 9.5 % 13.5% 8.0% (1.5)% 8.0% Note: We expect overall demand for the Company's COVID-19 related products to continue moderating as the pandemic subsides and evolves toward endemic status. We believe certain demand for the Company's products that support COVID-19 related vaccines and therapeutics (including initiatives that seek to prevent or mitigate similar, future pandemics) and COVID-19 testing will continue, though that demand will likely be uncertain and will vary from period to period. At the beginning of 2022, the Company believed that on a relative basis. the level of ongoing demand for products supporting COVID-19 testing would be subject to more fluctuations in demand than the level of demand for products supporting COVID-19 related vaccines and therapeutics, due in part to expected COVID-19 case levels, vaccination rates and use of therapies. However, as a result of lower vaccination rates and the spread of less severe variants of the virus, 2022 demand for the Company's products supporting COVID-19 related vaccines and therapeutics fluctuated and declined more than anticipated at the beginning of the year. Therefore, beginning with the first quarter of 2023, we have revised the definition of "base business core sales growth" on a basis that not only excludes revenues related to COVID-19 testing but also excludes revenues from products that support COVID-19 related vaccines and therapeutics. We believe this adjusted definition of "base business core sales growth" will provide more useful information to investors by facilitating period-to-period comparisons of our financial performance and identifying underlying growth trends in the Company's business that otherwise may be obscured by fluctuations in demand for COVID-19 related products. Year-Over-Year Core Operating Margin Changes from Continuing Operations Year Ended December 31, 2021 Operating Profit Margins from Continuing Operations (GAAP) Full year 2022 impact from operating profit margins of businesses that have been owned for less than one year or were disposed of during such period and did not qualify as discontinued operations Full year 2022 impairments of accounts receivable and inventory as well as accruals for contractual obligations in Russia Total Company 25.30 % (0.30) (0.15) Second quarter 2022 impairment charge related to technology and customer relationships in the Environmental & Applied Solutions segment, net of a first quarter 2021 impairment charge related to a trade name in the Diagnostics segment Fourth quarter 2022 costs incurred related to the anticipated separation of the Company's Environmental & Applied Solutions business Full year 2021 acquisition-related fair value adjustments to inventory and transaction costs deemed significant, in each case related to the acquisition of Aĺdevron Full year 2021 acquisition-related fair value adjustments to inventory and deferred revenue related to the acquisition of Cytiva (0.05) 0.20 0.15 Third quarter 2021 impact of the modification and partial termination of a prior commercial arrangement and resolution of the associated litigation Year-over-year core operating profit margin changes for full year 2022 (defined as all year-over-year operating profit margin changes other than the changes identified in the line items above) (non-GAAP) Year Ended December 31. 2022 Operating Profit Margins from Continuing Operations (GAAP) 1.85 0.60 27.60% Note: The Company deems acquisition-related transaction costs incurred in a given period to be significant (generally relating to the Company's larger acquisitions) if it determines that such costs exceed the range of acquisition-related transaction costs typical for Danaher in a given period. DANAHER

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