2018 INVESTOR & ANALYST DAY December 13, 2018

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2018 INVESTOR & ANALYST DAYDecember 13, 2018

Forward Looking StatementsStatements in this presentation that are not strictly historical, including any statements regarding events or developments that we anticipate will or may occur in the future are "forwardlooking" statements within the meaning of the federal securities laws. There are a number of important factors that could cause actual results, developments and business decisions to differmaterially from those suggested or indicated by such forward-looking statements and you should not place undue reliance on any such forward-looking statements. These factors include,among other things, Danaher’s ability to complete the previously-announced spin-off of its Dental business on the currently contemplated timeline and achieve the intended benefits,deterioration of or instability in the economy, the markets we serve and the financial markets, developments and uncertainties in U.S. policy stemming from the current administration, suchas changes in U.S. trade and tariff policies and the reaction of other countries thereto, contractions or growth rates and cyclicality of markets we serve, competition, our ability to develop andsuccessfully market new products and technologies and expand into new markets, the potential for improper conduct by our employees, agents or business partners, our compliance withapplicable laws and regulations (including regulations relating to medical devices and the health care industry), our ability to effectively address cost reductions and other changes in thehealth care industry, our ability to successfully identify, consummate and integrate appropriate acquisitions and strategic investments and successfully complete divestitures and otherdispositions, our ability to integrate the businesses we acquire and achieve the anticipated benefits of such acquisitions, contingent liabilities relating to acquisitions, investments anddivestitures (including tax-related and other contingent liabilities relating to past and future split-offs or spin-offs), security breaches or other disruptions of our information technologysystems or violations of data privacy laws, the impact of our restructuring activities on our ability to grow, risks relating to potential impairment of goodwill and other intangible assets,currency exchange rates, tax audits and changes in our tax rate and income tax liabilities, changes in tax laws applicable to multinational companies, litigation and other contingent liabilitiesincluding intellectual property and environmental, health and safety matters, the rights of the United States government to use, disclose and license certain intellectual property we license ifwe fail to commercialize it, risks relating to product, service or software defects, product liability and recalls, risks relating to product manufacturing, the impact of our debt obligations on ouroperations and liquidity, our relationships with and the performance of our channel partners, uncertainties relating to collaboration arrangements with third parties, commodity costs andsurcharges, our ability to adjust purchases and manufacturing capacity to reflect market conditions, reliance on sole sources of supply, the impact of deregulation on demand for ourproducts and services, labor matters, international economic, political, legal, compliance and business factors (including the impact of the UK's decision to leave the EU), disruptions relatingto man-made and natural disasters, and pension plan costs. Additional information regarding the factors that may cause actual results to differ materially from these forward-lookingstatements is available in our SEC filings, including our 2017 Annual Report on Form 10-K and Quarterly Report on Form 10-Q for the third quarter of 2018. These forward-looking statementsspeak only as of the date of this presentation and except to the extent required by applicable law, the Company does not assume any obligation to update or revise any forward-lookingstatement, whether as a result of new information, future events and developments or otherwise.With respect to the non-GAAP financial measures referenced in the following presentation, the accompanying information required by SEC Regulation G can be found in the back of thepresentation and in the “Investors” section of Danaher’s web site, www.danaher.com, under the heading “Events & Presentations,” and event name “Danaher 2018 Investor & AnalystMeeting.” Unless otherwise indicated, all references in this presentation (1) to Company-specific financial metrics relate only to the continuing operations of Danaher’s business; (2) to“growth” or other period-to-period changes refer to year-over-year comparisons; (3) to Operating Profit below the segment level exclude amortization; (4) to “today” refers to the Company’sestimated 2018 performance (“2018E”); and (5) to “2018 YTD“ refers to the first nine months of 2018. This presentation treats 2018E as the Company’s most recent fiscal year unlessotherwise indicated. We may also describe certain products and devices which have applications submitted and pending for certain regulatory approvals.

Agenda9:30 amWelcomeMatt Gugino9:35 amOpening RemarksTom Joyce10:05 amLife SciencesDentalQ&ARainer BlairAmir AghdaeiBlair, Aghdaei10:50 amEnvironmental & Applied Solutions (EAS)DiagnosticsQ&AJoakim WeidemanisDan DanielWeidemanis, Daniel11:35 amClosing Remarks & GuidanceTom Joyce11:45 amQ&ATom Joyce12:00 pmProgram End / Lunch

OPENING REMARKSTom Joyce, President & CEO2018 INVESTOR & ANALYST DAY

What You’ll Hear TodayTerrific results this year driven by DBSBuilding and evolving into a stronger, better DanaherRunning the Danaher playbook: how we create long-term value

2018 YTD Financial HighlightsMEANINGFUL CORE REVENUE GROWTH STEP-UP VS PRIOR YEARS 6.0%CORE REVENUEGROWTHEXPANDING MARGINS WHILE REINVESTING FOR GROWTH100BPSCORE OMXSTRONG ADJUSTED EPS GROWTH & SOLID FREE CASH FLOW123%FCF / NICONVERSIONRECENT PORTFOLIO MOVESDD― Life Sciences, Product ID, Water Quality & Diagnostics all MSD or better― Recent innovation & commercial investments driving market share gains― Core OMX 100bps, gross margin 60bps*, R&D spend 10%― Expect 2018 to be the27thconsecutive year that FCF exceeds Net Income― Closed 2B acquisition of IDT (Life Sciences); Blue Software (Product ID – Esko)― Announced spin-off of our Dental business*As a % of salesADJUSTED EPSGROWTHOutstanding results driven by DBS

Building A Stronger, Better Danaher 20B2015CORE REVENUEGROWTHRECURRINGREVENUE*DIRECT GTMREVENUE*GROSS MARGINLSD 45% 60%52%20162018MSD 70% 70%56%LIFE SCIENCES 6.5BDIAGNOSTICS 6.2BENV. & APPLIED 4.3BDENTAL 2.8BDHR TOTALREVENUE 2018EAll financial metrics shown reflect FY 2018E unless indicated otherwise; 2015 metrics shown include Fortive* As a % of total revenueEvolving into higher growth & higher recurring revenue portfolio

Strong Recurring RevenuePORTFOLIO UNITED BY COMMON BUSINESSMODEL Steady consumables stream off extensive installedbase High value, ‘mission-critical’ applications that demandhigh quality products to meet regulatory requirementsBENEFITS & OPPORTUNITIES Reduced revenue volatility Increased customer intimacy Higher margin opportunities enable reinvestmentEXAMPLESTotal DHRRevenueBy MixNon-recurring30%Recurring70%(2018E)RAZOR /RAZORBLADE Consumables revenue2-5X instrument rev. Long-term contractsSPEC’DIN FDA-approved processesi.e. biologic drug production Like-for-like replacementsi.e. EPA methodsSERVICE Increase in attachment rates MSD/HSD service revenueCAGR over the last 3 yearsMajority of our recurring revenue is considered ‘captive’

Evolving the Portfolio to Serve Attractive End-MarketsWATER QUALITYADDRESSABLEMARKET SIZEKEY SECULARGROWTH DRIVERSPRODUCT ID 20B 10B Water scarcity Packagingproliferation Global brandconsistency Sustainability ofwater resourcesLIFE SCIENCES 50BDIAGNOSTICSDENTAL 35B 20B Shift in medicine:Biologics Molecular Dxpenetration Digital dentistry Evolution of LSresearch:genomics Decentralizationof health care Aestheticdentistry /implantsHigh Growth Markets Regulatory Requirements Workflow EfficiencyStrong secular drivers underpinning growth opportunities

Danaher Business System (DBS)LeadershipLeanGrowthDBS is our competitive advantage:it’s who we are, and how we do what we do

Talent as a Competitive Advantage: Leading with DBSSTRATEGIC PRIORITIESTHE BESTWORKPLACETHE BESTPEOPLELEADERS 15%ENGAGEMENT INDEXIMPROVEMENT OVERLAST 5 YEARSOUR CULTUREA CULTURE OF ANDMetrics AND MeaningPerformance AND PeopleResults AND RecognitionOUR GOALMy Organization & PurposeMy Future & DevelopmentMe, My Manager & My Daily Work 85%AVG. INTERNALFILL RATE LAST2 YEARSOur Engagement PyramidMeeting the needs of associates every dayOpCo Presidents & AboveAssociates are key to sustaining our competitive advantage

How We Create Value: Running the Danaher PlaybookCore Revenue GrowthIMPROVE COSTSTRUCTUREGrossMarginsG&AREINVESTFOR GROWTHR&DS&MACCELERATEMARGINS &CORE GROWTHCoreGrowthOMX Margin Expansion Strong Free Cash Flow Acquisitions TOP QUARTILE EPS GROWTH &COMPOUNDING RETURNSBalanced approach to create shareholder value

Improving Cost StructureOPPORTUNITIES & FOCUS AREASIncrease gross margins Material costs, PPV, labor efficiencies, scrap, logisticsDBS ACTIONS VAVE, Lean Conversion, Daily Mgmt., Visual Mgmt.EXAMPLE BEC LS gross margin 500bps since 2015Reduce G&A Indirect, non-customer-facing costsDBS ACTIONS Visual Mgmt., Transactional Process Improvement (TPI)EXAMPLE Pall G&A* down 500bps since TS OVER THELAST 3 YEARS 200BPSINCREASE INGROSS MARGIN-50BPSDECREASE IN G&AAS A % OF SALES*As a % of salesReducing non-customer facing costs allows us to reinvest back into the business

Reinvesting for Growth: InnovationOPPORTUNITIES & FOCUS AREASEncouraging an entrepreneurial spirit with DBS rigor Building upon innovative foundation at recent acquisitions Improving R&D project focus & prioritization Condensing project development cycle timesRESULTS OVER THE LAST 3 YEARS*R&D SPENDAS % OF SALES*Assumes all three years include a full year contribution from Pall 40% 1.2BR&D ASSOCIATESHIREDG&AR&DS&MCoreGrowthOMXDBS EXAMPLE 50BPSGrossMarginsANNUAL R&D SPENDTODAYPROJECT FUNNEL Problem to Portfolio (P2P) Lean Product DefinitionSIZEIncremental revenue pipelinePROJECTOTDDeveloping products to planREVENUEACHIEVEMENT Visual Project Management Obeya Organization Talent Assessment Launch Excellence Transformative MarketingGenerating planned resultsNEW PRODUCT DEVELOPMENT(NPD) GROWTHDBS enables effective investment in innovation for competitive advantage

Reinvesting for Growth: Sales & Marketing Increasing market visibility & contacts Expanding digital marketing capabilities Improving sales lead generation (quantity & quality) 80% 10X 15%DBS ACTIONSVISIBILITY &CONTACTSCAMPAIGNS &EVENTSG&AR&DS&MCoreGrowthOMXEXAMPLE: PALL COMMERCIAL RESULTSSINCE ACQUISITIONOPPORTUNITIES & FOCUS AREASTransformative MarketingGrossMarginsLead HandlingQUALIFIEDLEADSCONTACTS /MARKET VISIBILITYQUALIFIED LEADSWIN RATEFunnel ManagementSALES FUNNELWIN RATEORDERS &SALESUsing DBS to drive better, sustainable S&M processes and growth

Accelerating GrowthCORE REVENUEGROWTH SD2016Innovation &Recent higher growth Better end-marketcommercial executionacquisitionsconditionsToday“Running the Danaher playbook” enhances our growth trajectory

M&A: Our Strategic Approach and CapacityMARKET COMPANYSecular growth driversFragmentedHigher barriers to entryOptionality with multi-industry portfolio Competitive market position, strong brandConsistent revenue visibilityHigher margin businessesCultural fitVALUATION Focus on ROIC DBS opportunities Sustainability Synergies“ROIC” is Return on Invested Capital2014 financial metrics shown include FortiveDEBT TOEBITDA2014ADJ. EPSGROWTH Y/Y8%2014 4X eatest M&A capacity today since pre-Pall acquisition

Putting It All Together Portfolio evolution helping us buildstrong footholds in great markets withhigh-quality businesses Outstanding results driven by consistentDBS execution Well-positioned to pursue meaningfulM&A opportunitiesRESULTS OVER THELAST 3 YEARS 200BPS 85BPSDDMid-teensCORE GROWTHIMPROVEMENT CORE OMXAVG. ANNUAL FCF CAGR ADJ. EPS GROWTHAVG. ANNUALFocused on creating long-term shareholder value

LIFE SCIENCESRainer Blair, Executive Vice President2018 INVESTOR & ANALYST DAY

RevenueBy MixLIFE SCIENCESNon-recurring35%Recurring65%By GeographySTRONG GLOBAL GROWTH DRIVERS Evolution of Life Science research(i.e. genomics) Shift in medicine (i.e. proliferation ofbiologics including cell & gene therapy) HGM investments in basic & appliedresearch capacityAll financial metrics based on FY 2018E unless otherwise indicated; all pie chart percentages are % of 2018E revenuesROW9%NAHGM35%27%EU29%By Ind.AppliedBiopharma /PharmaPharmaOther 6.5BHSD 25%TOTALREVENUECORE REVENUEGROWTHADJ. EBITDAMARGIN YTDStrong global brands withleading market positions

2018 YTD HighlightsCadence of innovation helping to accelerate core growth acrossthe platformStrong core operating margin expansion driven by solid executionacross the platformPall continues to exceed our initial expectations, delivering broadbased growth and margin improvementStrategic M&A to increase our presence in attractive end-markets 7.5%CORE REVENUEGROWTH255BPSLIFE SCIENCESCORE OMX 800BPSPALL COREOMX SINCEACQUISITION 2B acquisition of IDT, a leading player in genomics consumablesAll financial metrics refer to the 9 months ending Sep. 28, 2018 unless otherwise indicatedStrong execution providing good momentum into 2019

Life Sciences Platform Evolution 2.4B5 YEARS AGOLSD CORE REV. GROWTH 35% RECURRING REV.Mid/high ADJ. EBITDAteens MARGINPre-20092010Revenue ByEnd-MarketHSD CORE REV. GROWTHBiopharmaResearchClinical2011 6.5B2018EApplied 65% RECURRING REV.Pharma 25% ADJ. .MARGINInd.Revenue ByEnd-Market2017AppliedPharmaOtherTodayEnhancing our growth trajectory with DBS rigor & strategic M&A

How We Win in Life SciencesOUR STRATEGIC FOCUSATTRACTIVEEND MARKETSIndexing our portfolio to high-growth end-markets in terms ofapplications (i.e. biologics, genomics, applied, gene therapy) 1.5B 10%INNOVATIONBest-in-Class analytical technologies & high level of innovationfocused on key applicationsCOMMERCIALGlobal high-tech sales force to target highest growth segments& regional opportunities; differentiated service offering withfrequent, high-quality customer touch pointsHSDHIGH GROWTHREGIONSMeaningfully expanding our presence in HGM e.g. China,where we have established local R&D and manufacturingcapabilities: “in China, for China”DDREVENUEEXPOSURE TOBIOLOGICS (2018E)R&D SPEND CAGRLAST 3 YEARSSERVICE REVENUECAGR LAST 3 YEARSCHINA ANNUAL REVENUECAGR LAST 3 YEARSFocused on areas of highest growth & highest customer impact

Expanding Our Presence in GenomicsIDT Genotyping “Master Mix”GENOMICS: WHERE WE PLAY & HOW WE WIN qPCRNGSCRISPRMolecular Dx / OEMGene Fragment Automation Sample PrepFASTEST TURNAROUND TIMEHIGHQUALITY 300MIDT TOTALREVENUEMid-teens 100MCADENCE OFINNOVATIONIDT CORE REVENUE CAGRLAST 3 YEARSBiomeki-SeriesBEC LS ANNUALGENOMICS REVENUEFLEXIBILITY &SCALABILITYGenomicReagentsEnhancing our offering in high-growth genomics applications

Accelerating Innovation Across Life SciencesEXAMPLES OF DBS GROWTH TOOLSHELPING TO DRIVE NPD IMPROVEMENTSPRODUCT BLEM TOPORTFOLIO 3XAT 20AT 2XNUMBER OF NEWPRODUCTS THISYEAR VS PRIOR YEARNEW PRODUCTSLAUNCHED LAST 3YEARS% OF REVENUEACHIEVEMENT FROMNEW PRODUCTSMEANINGFUL CORE GROWTHACCELERATION DRIVEN BYNEW PRODUCTSLS Platform CoreRevenue GrowthHSDLSD/MSDLast 5 Years2018E 200bps of LS core growth step up attributable to new products

Strong Position in ChinaLS CHINA REVENUE 2XTOTAL LS REVENUE INCHINA TODAY VS 2015 0.8B 0.4B2015Today‘IN CHINA, FOR CHINA’ Well-positioned for strong growth drivers: rapidhealthcare expansion; gov’t prioritization of LS research;early innings of biologic drug development Strong local presence, with multiple R&D andmanufacturing facilities On-the-ground leadership & development: DBSUniversity in Shanghai Enhancing our addressable market with strategic M&A:(BEC LS)(SCIEX)DD annual core revenue growth in China last 3 years

SummaryEvolving our Life Sciences platform to focus on the mostattractive parts of the market and increase recurring revenueEnhancing our competitive advantage through DBS-driveninnovation and lean executionNearly 1B presence in China provides meaningful opportunitiesto benefit from long-term secular growth drivers in the region

DENTALAmir Aghdaei, Group Executive2018 INVESTOR & ANALYST DAY

DENTALRevenueBy MixTradt’l.Cons.Implants &OrthoEquip.SpecialtyConsumables 2.8BTOTALREVENUE 55%GROSSMARGINOUTSTANDING BRANDS & INNOVATIONSTRONG GLOBAL GROWTH DRIVERS Growth in emerging markets Digitization of the dental practice Increasing importance of aesthetics 12,000 ASSOCIATESHQ IN SOUTHERN CALIFORNIAEXPERIENCED DANAHER TEAM TO LEADDENTALCOBy GeographyHGM23%NA47%ROW7%Direct vs.DistributionDistributionAll financial metrics based on FY 2018E unless otherwise indicated; all pie chart percentages are % of 2018E revenuesEU 23%DirectMidteensADJ. EBITDAMARGIN YTDA leading global playercovering entire dental workflow

Recent Financial HighlightsRESULTS SINCE 2015Strong foundation & DBS execution supporting relativemarket outperformanceMSDGood performance in specialty businesses & HGMDD Signs of end-market stabilization in traditionalconsumables & equipment (North America, via distribution)1,000BPSBenefitting from recent growth investments: launched keynew products & executing commercial initiatives 100BPSAll financial metrics refer to the 9 months ending Sep. 28, 2018unless otherwise indicatedCORE REVENUE GROWTH INSPECIALTY CONSUMABLESCORE REVENUE CAGRIN CHINANOBEL OMX SINCEACQUISITIONR&D AS A %OF SALESGood relative performance – with ample upside

How We Win at Dental: Executing Our Strategic PrioritiesPURSUE LONG-TERMMARKET LEADERSHIPBUILD SUSTAINABLECOMPETITIVE ADVANTAGEACCELERATE GROWTH ANDREINVEST FOR GROWTHESTABLISH A STRONGFOUNDATION201520162017PROFITABILITYREDUCE BUSINESS COMPLEXITY ANDGENERATE FUNDS FOR INVESTMENTSTodayFuturePositioning Dental for long-term, sustainable outperformance

Establishing a Strong FoundationRECENT ACTIONS Consolidated number of OpCos from 10 to 3 Reduced manufacturing & back-office sites Shared platform services DBS integrated into lean, growth, & talentDENTALADJ. EBITDA MARGINMid-teensEXPECTEDANNUALLYRESULTS OVER THE LAST 3 YEARS 50BPSGROSS MARGINIMPROVEMENT-30%MANUFACTURING & BACKOFFICE SITES-400BPSREDUCTION INNOBEL G&AAS A % OF SALES 50 BPSTodayFutureAs growth accelerates, expect cost actions to drive higher fall-through

Reinvesting for GrowthRECENT ACTIONS Increased cadence of innovation Executing commercial initiatives Expanding presence in HGM Strengthening digital capabilitiesRESULTS OVER THE LAST 3 YEARS 20%INCREASE IN ANNUALR&D SPEND 10%INCREASE INFEET ON THE STREET 2.5XNobel BiocareTrefoil NUMBER OF SOFTWAREENGINEERSBuilding our competitive advantage & driving sustainable growth

Focused on High-Impact Growth OpportunitiesNEW PRODUCTS COMMERCIAL EXECUTIONInnovation driving growth 20% annual R&D spendsince 2015 25 new products launchedEnhanced GTM strategy Added 15% FOS globallysince 2015MSDANNUAL CORE REVENUEGROWTH AT NOBELSINCE ACQUISITIONNEW PRODUCT INTRODUCTIONSpark ClearAligner Australia launch Jun’18US 510k clearance in Oct’18Full-scale systemHighly aesthetic treatmentoption 2.5BNEW ADDRESSABLEMARKET WITH SPARKHGM EXPANSIONMarket opportunity Early innings of penetration Only 10% of China populationis seeing a dentist annuallyA leading player in China ‘One-Stop-Solution’ Expanding local presence 20%CHINA CORE REVENUECAGR LAST 5 YEARSDifferentiating our offering through commercial & product innovation

Pursuing Long-Term Market LeadershipEXPANDING OUR PRESENCE & CAPABILITIESATTRACTIVEMARKETSEGMENTS― Specialists (implants & ortho)― DSOs― HGMDIGITALOFFERINGSTRATEGICM&ASUPPORTED BY STRONGSECULAR GROWTH DRIVERS 5%IMPLANT PENETRATIONGLOBALLY― DTX digital ecosystem softwareconnecting equipment & consumables― Largest imaging installed base globally 20XDENTAL SPENDPER CAPITA IN THEUS VS CHINA― Implant systems (Nobel)― Technology & software― Treatment planning 90%OF DENTISTS’ CLINICALSPEND CAN BE CAPTUREDBY OUR PRODUCTSExpanding our offering in the most attractive parts of the market

Putting It All TogetherDENTALCO ANTICIPATED EARNINGS FORMULACORE REVENUEGROWTH STRONG FREECASH FLOW MARGINEXPANSIONACQUISITIONS&Flat/LSD today with opportunity to accelerateCORE REVENUE GROWTHACCELERATION OPPORTUNITIES 50 bps core OMX annuallyFCF spent primarily on M&A ATTRACTIVE EPSGROWTHInvestment grade credit rating;DBS at the core of what we doCoreN.A. end- Innovation / Commercial Future corerevenuemarketnewexecutionrevenuegrowth today stabilization productsgrowthAttractive opportunity for meaningful growth & margin acceleration

The Best Team Wins: Dental Leadership TeamAmir AghdaeiPresident & CEOPresident, KaVo KerrPresident, Nobel BiocarePresident, China & APACPresident, OrmcoCFOCHROStrategy & Corp DevGeneral CounselRA/QADBSO 90%OF CORPORATE LEADERSHIPTEAM COMPRISED OFDANAHER ASSOCIATES 12,000ASSOCIATESGLOBALLYSenior leaders have combined 85 years of Danaher service

SummaryComprehensive offering and increasing exposure to the mostattractive areas of the Dental marketStrong foundation for core revenue growth acceleration andmeaningful margin improvementAttractive earnings growth profile with significant upside

ENVIRONMENTAL & APPLIEDSOLUTIONSJoakim Weidemanis,Executive Vice President2018 INVESTOR & ANALYST DAY

ENVIRONMENTAL &APPLIED SOLUTIONS (EAS)RevenueBy MixRecurring55%Nonrecurring45%By GeographyEU24%STRONG GLOBAL GROWTH DRIVERS Increasing regulatory requirements Demand for full workflow solutions andprocess efficienciesHGM32% ROW3% Packaging proliferation & brand consistency Quality & sustainability of water resourcesAll financial metrics based on FY 2018E unless otherwise indicated;all pie chart percentages are % of 2018E revenuesNA41%By End-MarketPharma /OtherCPG /PackagingPIDMuniIndustrialInd.(WQ)(PID) Env. /WQOther 4.3BTOTALREVENUE 25%ADJ. EBITDAMARGIN YTD 30BADDRESSABLEMARKET SIZEStrong global brands withmarket-leading positions

2018 YTD HighlightsContinued share gains driven by innovation & commercial execution Hach: continued strength across core muni & industrial businesses Trojan: meaningful increases in win rate Videojet: great market reception from recent new project launchesStrong position in attractive regions and end-markets Hach: China 25% core growth; developed markets MSD Videojet: largest global installed base of remotely connected printersRecent acquisitions augmenting core growthAll financial metrics refer to the 9 months ending Sep.28, 2018 unless otherwise indicated 7.0%11CORE REVENUEGROWTHCONSECUTIVE QUARTERSOF MSD CORE REVENUEGROWTH AT VIDEOJETHSDREVENUEGROWTH IN HGMSustained outperformance across EAS

Strong Recurring RevenuesRESILIENT PORTFOLIO Low cyclicalityapplications Increasing regulatory &testing requirementsdrive “stickiness” Low cost, high valueadd instrumentation &consumablesEXAMPLESPortable Parallel Analyzer(PPA)CIJ 1580PrinterMunicipality uses HachChemkey reagents toanalyze up to 6 parameterssimultaneouslyCoca-Cola bottlingplant prints lot codeswith Videojet ink on10-20M cans per day2-4XTYPICAL AMOUNT OFCONSUMABLES REVENUEVS INSTRUMENT REVENUEAT HACH & VIDEOJET 2XNUMBER OF VIDEOJETPRINTERS UNDER SERVICECONTRACT SINCE 2014Extensive installed base & “sticky”applications drive strong recurring revenue stream

Water Quality: How We Differentiate & WinINNOVATION Increased cadence of new product launches Accessing new markets, providing newtechnologies & applicationsGO-TO-MARKET Accelerating Digital Marketing; Platform approach Expanding e-commerce platformHIGH GROWTH MARKETS Increasing ‘go-direct’ and local presence via FOSadditions and M&A50%REDUCTION IN TROJAN’STIME-TO-MARKET FOR NEWPRODUCTS SINCE 2016 50%WQ DIGITAL REVENUECAGR SINCE 2015 15%CORE REVENUE GROWTHVS. PEERSWATERQUALITYPEERSMSDLSDAvg. Annual Core RevenueGrowth Last 5 YearsWQ HGM REVENUEGROWTH 2018 YTDEnhancing our competitive advantage & driving share gains

Differentiated Digital Workflow Solution at HachCLAROSFORWater Treatment PlantsCUSTOMER SOLUTIONS sInstrument ManagementProcess Management Predictive diagnostics Maintenance alerts Step-by-step instructions Real-time-control to managetreatment processes Keep facility compliant 500MNEW ADDRESSABLEMARKET WITH CLAROSCAPABILITIESProcessOptimization 2,000EquipmentMaintenanceData Management Collect, access & share data View at any time on any device Easier reporting & decisionmakingREAL-TIME CONTROLSITES GLOBALLYSimplifying plant management with uniquecombination of software suite & connected instruments

Product ID: How We Differentiate & WinREMOTE SERVICE OFFERING Largest remotely connected installed base globally Expanding remote solutions & predictive analyticsPRODUCT INNOVATION Launching better new products into the market fasterDIGITAL CAPABILITIES & SOLUTIONS Ongoing digitization of customers’ physical workflows Esko’s BLUE acquisition adds scale & reach with label,packaging, artwork design & workflow mgmt. software10,000CONNECTED PRINTERSGLOBALLY 2XVIDEOJET PROJECTSON-TIME-TO-MARKETSINCE 2017 30%INCREASE IN BRANDOWNER USERS ATESKO SINCE 2017CORE REVENUE GROWTHVS. PEERSMSDPRODUCT IDPEERS 3-3.5%Avg. Annual Core RevenueGrowth Last 5 YearsInnovative solutions rooted in customer needs underpin our growth

Connectivity & Remote Service at VideojetOPPORTUNITIES & FOCUS AREAS Reducing customer downtime and increasingproductivity Expanding Remote Service Solutions andenhancing predictive analytics with innovation Connected to the ‘cloud’ with a continuousflow of dataRESULTSDDSERVICE REVENUECAGR SINCE 201550%NUMBER OF CUSTOMERPROBLEMS RESOLVEDREMOTELY TODAY 6M lines of codeMORE 53 sensorsCONNECTIONS &SMARTER SERVICE 175 data pointsCIJ 1860IOT CEABLECONNECTEDUNCONNECTED01235 Zero lost productivityGuaranteed uptimePre-empt failuresBetter first-time fix rateFewer on-site service visitsReactive serviceDifferentiating with service & innovation to drive share gains

Enhancing Our Offering with Strategic M&A: ExamplesPRODUCT IDWATER QUALITYDD MSD AVG. ANNUAL COREREVENUE GROWTH ATLAETUS SINCE ACQUISITIONAVG. ANNUAL COREREVENUE GROWTH OFRECENT ACQUISITIONS Technology – accretive, ‘gap-filling’bolt-ons Scale – adding scale & reach withbrand owner SaaS Adjacencies – adding capabilitiesin meteorology Technology – adding in-line inspectionand track & trace systems HGM – expanding direct, localpresence HGM – expanding direct, localpresenceENVISCIENCEAugmenting growth with 400M of strategic M&A over the last two years

SummaryWell-positioned in attractive end-markets and applications, withstrong recurring revenues off a market-leading installed baseDifferentiated product offering & customer support drivingsustained market outperformanceContinuing to pursue high-impact organic & inorganic growthopportunities

DIAGNOSTICSDan Daniel, Executive Vice President2018 INVESTOR & ANALYST DAY

RevenueBy MixDIAGNOSTICSNon-Recurring15%Recurring85%By GeographyROW6%STRONG GLOBAL GROWTH DRIVERS Improving standards of care in HGM Skilled labor shortages & cost pressuresnecessitating automated solutions POC & decentralization of health careAll financial metrics based on FY 2018E unless otherwise indicated; all pie chart percentages are % of 2018E revenuesHGM37%NA38%EU19%By OpCoCepheidLBSBeckmanDiagnosticsRadiometer 6.2B 25% 35BTOTALREVENUEADJ. EBITDAMARGIN YTDADDRESSABLEMARKET SIZEStrong brands with abroad global presence

2018 YTD HighlightsStrong core revenue growth driven by innovation & DBS executionOutstanding performance at Cepheid, delivering double-digit coregrowth and meaningful margin expansionNew products contributing to HSD core revenue growth atRadiometer and Leica BiosystemsContinued strength across HGM, particularly China & India 6.5%CORE REVENUEGROWTH 100BPSDDCORE OMXREVENUE GROWTH INHIGH GROWTH MARKETSAll financial metrics refer to the 9 months ending Sep. 28, 2018 unless otherwise indicatedAccelerating growth and driving sustainable long-term results

Diagnostics Platform EvolutionREVENUE & CORE GROWTH MIX5 YEARSAGOMSD/HSDAcute /POCImmunoassay50% OF REV.OtherHematology &UrinalysisREVENUEClinicalChemistry 4%CORE GROWTH2004Acute /POCPathologyPathology 4.4BMSD/HSDTODAYLSD 50% OF REV.HIGH-TEENSADJ. EBITDA MARGIN55% OF REV.ImmunoassayMolecularOther Hem. & ClinicalUrinalysis ChemistryDD 15% OF REV.LSD 30% OF REV. 6.2BREVENUE 6%CORE GROWTHMicroScan 25%ADJ. EBITDA MARGIN2018Orienting our Diagnostics portfolio towards attractive end-markets

Looking Ahead: Well-Positioned to Win in DiagnosticsMOLECULAR DDPATHOLOGYLAB MSD/HSDMSDCORE REVENUE GROWTHVS PEERSACUTE CARE &POC MSD/HSDLSDWHERE WE PLAY & 2018E CORE REVENUE GROWTHCORE LAB LSD2013 – 2015DHRDiagnosticsPlatformDiagnosticsPeers2016 – 2018 YTDDHRDiagnosticsDiagnosticsPeersPlatform(incl. Cepheid)Comprehensive portfolio with strong footholds across Dx landscape

Accelerating Growth at Beckman DiagnosticsOUR STRATEGIC FOCUS AREASCOMMERCIAL INITIATIVES Strategic Accounts / IDNs focus GTM alignment DBS Growth ‘War Room’HGM EXPANSION‘Go-direct’ strategy, particularly in C

presentation and in the "Investors" section of Danaher's web site, www.danaher.com, under the heading "Events & Presentations," and event name "Danaher 2018 Investor & Analyst Meeting." Unless otherwise indicated, all references in this presentation (1) to Company-specific financial metrics relate only to the continuing operations .

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jeffrey l. romig, senior policy analyst 12/94-8/95 immigration and naturalization service gregg a. beyer, senior policy analyst 1/97-present patricia a. cole, senior policy analyst 4/93-6/95 thedora hernandez, policy analyst 6/94-3/95 michael d. hoefer, policy analyst 12/93-9/94 edward skerrett, senior policy analyst 11/95-10/96