Accelerating Innovation at Leica Biosystems

Compounding Returns At Videojet VIDEOJET. VIDEOJET ROIC (%) Comprint wolke Inks & Printers BIS Echter + F. Armida Konig SA EWA Willett VIDEOJET. CLLTEC- (Brazil) LITELASER PRISM (Poland) FOBA Laser at your service (Mexico) (Argentina) 2002 2003 2004 2005 2006 2007 2008 2009 2010 ACTUAL ROIC MSD CORE REVENUE CAGR +1,000BPS MSD CORE REVENUE CAGR OVER THE LAST 10+ YEARS ESTIMATED ROIC ASSUMING LSD CORE REV. CAGR Vega Laetus (Brazil) 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021E CORE GROWTH CAGR MSD ~100BPS 14 AVG. ANNUAL OMX LAST 5 YEARS ACQUISITIONS SINCE 2002 >25% ROIC Organic execution + M&A = compounding returns CORE GROWTH CAGR LSD DANAHER

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