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DANAHER BUSINESS SYSTEM

DANAHER BUSINESS SYSTEMTom Joyce, President & CEODan Comas, EVP & CFOMAY 20182 Forward Looking StatementsStatementsinthispresentationth atarenotstrictlyhistorical,includinganys tatementsregardingeventsordevelopmentsth atweanticipatewillormayoccurinthefuturea re"forward-looking" , ,amongotherthingsdeteriorationoforinstab ilityintheeconomy,themarketsweserveandth efinancialmarkets,contractionsorgrowthra tesandcyclicalityofmarketsweserve,compet ition,ourabilitytodevelopandsuccessfully marketnewproductsandtechnologiesandexpan dintonewmarkets,thepotentialforimproperc onductbyouremployees,agentsorbusinesspar tners,ourcompliancewithapplicablelawsand regulations(includingregulationsrelating tomedicaldevicesandthehealthcareindustry ),ourabilitytoeffectivelyaddresscostredu ctionsandotherchangesinthehealthcareindu stry,ourabilitytosuccessfullyidentifyand consummateappropriateacquisitionsandstra tegicinvestmentsandsuccessfullycompleted ivestituresandotherdispositions,ourabili tytointegratethebusinessesweacquireandac hievetheanticipatedbenefitsofsuchacquisi tions,contingentliabilitiesrelatingtoacq uisitions,investmentsanddivestitures(inc ludingtax-relateda)

Flat/LSD Mid-teens AT ACQ. TODAY 1 YEAR IN LSD MSD ~50% >50% High-teens ~25% Core Growth Gross Margin Operating Profit Margin Flat/LSD MSD ~70% >70% LDD >20% Core Growth Gross Margin Operating Profit Margin Update on Recent Larger Acquisitions AT ACQ. TODAY AT ACQ. TODAY Deals at or above initial expectations

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