Infrared Imaging Ecosystem

Teledyne to Acquire FLIR Transaction value of approximately $8.0 billion ▸ Consideration of 50% cash and 50% Teledyne stock ▸ Financed from cash on hand and new debt ◆ Fully committed $4.5 billion loan facility to fund transaction and refinance debt; to be replaced with permanent financing ◆ Estimated net leverage at closing of approximately 4.0x EBITDA, declining to <3.0x by year-end 2022 ♦ Commitment to maintain solid investment grade profile ▸ Near-term pretax synergies of $40 million per year, growing to $80 million per year over time ▸ Immediately accretive to earnings, excluding transaction costs and intangible asset amortization; accretive to GAAP earnings in the first full calendar year Expected closing mid 2021 2

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