Accelerating Innovation at Leica Biosystems

Outstanding Performance at Recent Acquisitions Cepheid. 2021E ACQUIRED NOV 2016 AT ACQ. ACTUAL ROIC DD+ CORE REVENUE CAGR 2017-2021E ACQUIRED AUG 2015 PALL AT ACQ. 2021E ACTUAL ROIC HSD CORE REVENUE CAGR 2016-2021E Core Growth DD >50% Core Growth LSD DD+ Gross Margin ~50% >55% Gross Margin -50% >60% >$2.0B Operating Profit Margin Flat/LSD >30% CUMULATIVE ADDITIONAL OP Profit Margin Operating High-teens >30% ROIC +>20% ROIC +HSD 2016 2017 2018 2019 ESTIMATED ROIC ASSUMING 10% CORE REV. CAGR 2020 2021E ESTIMATED ROIC ASSUMING LSD CORE REV. CAGR 2015 2016 2017 2018 2019 2020 2021E >$1.0B CUMULATIVE ADDITIONAL OP Enhancing great franchises with DBS, creating substantial value DANAHER

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