Fortive Corporation · NYSE:FTV
Fortive — Investor Day (June 2025)
103 slides from Fortive's investor day presentation, Jun 10, 2025
Slide 1: Fortive Investor Day
June 10, 2025 Fortive Investor Day 1
Slide 2: Welcome
Welcome Elena Rosman Vice President Investor Relations 2
Slide 3: Forward-looking statements, non-GAAP financial measures and basis of presentation
Forward-looking statements, non-GAAP financial measures and basis of presentation FORWARD-LOOKING STATEMENTS Statements in this presentation that are not strictly historical, including statements regarding anticipated financial results, global and regional economic conditions, industry trends, geopo
Slide 4: New Fortive emerges from Ralliant spin-off
New Fortive emerges from Ralliant spin-off Current Fortive New Fortive Intelligent Operating Solutions (IOS) Intelligent Operating Solutions Advanced Healthcare Solutions Advanced Healthcare Solutions (AHS) Precision Precision Technologies Spin effective Technologies (PT) June 28, 2025 4
Slide 5: Agenda
Elena Rosman Welcome VP, Investor Relations Olumide Soroye Introduction to New Fortive Incoming President & CEO Advanced Healthcare Solutions (AHS) Spotlight: Chad Rohrer Advanced Sterilization Products (ASP) Group President Agenda Intelligent Operating Solutions (IOS) Spotlight: Fluke Parker Burke
Slide 6: New Fortive: Simplified and Accelerated
New Fortive: Simplified and Accelerated Olumide Soroye Incoming President and CEO 6
Slide 7: Key messages
Simplified: Focused company with a track record of strong 1 durable financial performance aided by our 50% recurring revenues Poised for acceleration: Strategically advantaged operating 2 brands in attractive markets with a clear path to accelerate value creation Key 3 FBS Amplified: Fortive Busines
Slide 8: We are a simplified Fortive
We are a simplified Fortive PHASE 1 PHASE 2 PHASE 3 PHASE 4 2016-2017 2017-2025 Day 1 Post-Spin Beyond Accelerated Simplified Transformed Created 8
Slide 9: Innovating essential technologies to keep our world safe and productive
Simplified 10 Market leading brands Innovating essential technologies to keep our world safe and 10,000 Employees globally productive 100,000 Customers served Approximate metrics following planned separation. 9
Slide 10: Our culture, core values, and business system are aligned with our shared purpose
Our culture, core values, and business system Simplified are aligned with our shared purpose Shared purpose Core values Fortive Business System (FBS) Innovating essential Extraordinary teams Customer success technologies to We build extraordinary teams for extraordinary Customer success inspires our
Slide 11: New Fortive at a glance
New Fortive at a glance Simplified Industrial Operations Healthcare Operations Intelligent Operating Solutions Advanced Healthcare Solutions $4.1B $2.8B | ~70% $1.3B | ~30% Revenue Revenue of Fortive Revenue Revenue of Fortive Revenue 4% 5% 3% Core Growth Core Growth Core Growth (5-year CAGR) (5-yea
Slide 12: Higher quality financial profile on Day One
Higher quality financial profile on Day One Simplified Fortive New Fortive (LTM Q1-2025) (LTM Q1-2025) Core Faster, more durable growth, revenue growth 0% 4% with less cyclicality Recurring More recurring revenue, revenue ~40% ~50% with 28% software Adj. Gross Higher gross margins resulting Margin 6
Slide 13: Strong performance track record
Strong performance track record Simplified Revenue ($B) Adj. Gross Profit ($B) Adj. EBITDA ($B) Free Cash Flow ($B) 4% 9% 12% 12% Core growth Adj. Gross Adj. EBITDA FCF CAGR Profit CAGR CAGR 8% reported CAGR 4.1 2.6 1.2 0.9 3.9 2.5 3.7 1.0 0.8 2.3 3.4 0.9 2.1 0.7 2.9 1.8 2.8 1.7 0.8 0.6 0.7 0.5 0.5
Slide 14: Key messages
Simplified: Focused company with a track record of strong 1 durable financial performance aided by our 50% recurring revenues Poised for acceleration: Strategically advantaged operating 2 brands in attractive markets with a clear path to accelerate value creation Key 3 FBS Amplified: Fortive Busines
Slide 15: We are poised for further acceleration
We are poised for further acceleration PHASE 1 PHASE 2 PHASE 3 PHASE 4 2016-2017 2017-2025 Day 1 Post-Spin Beyond Accelerated Simplified Transformed Created 15
Slide 16: Clear strategy to accelerate value creation
Clear strategy to accelerate value creation Accelerated HIGH QUALITY DURABLE BY FBS AMPLIFIED CAPITAL BRANDS DESIGN FOR GROWTH ALLOCATION Own and operate Deliver durable financial Leverage our Amplify shareholder leading brands in two results from strategically differentiated Fortive returns through
Slide 17: Market leading brands in two great markets
Market leading brands in two great markets D U RABLE BY C A P ITA L H IG H Q U A L ITY F B S A M P L IF IE D D E S IG N A L L O C A TIO N BRANDS F O R G R O W TH Intelligent Operating Solutions Advanced Healthcare Solutions ~$35B Addressable Market ~$10B Addressable Market • #1 in professional instr
Slide 18: Strong secular tailwinds for industrial operations
Intelligent Operating Solutions D U RABLE BY C A P ITA L H IG H Q U A L ITY F B S A M P L IF IE D D E S IG N A L L O C A TIO N BRANDS F O R G R O W TH Strong secular tailwinds for industrial operations Implication for Tailwind growth trajectory Reconfiguration of global supply chain 75% Supply chain
Slide 19: Strong secular tailwinds for healthcare operations
Advanced Healthcare Solutions D U RABLE BY C A P ITA L H IG H Q U A L ITY F B S A M P L IF IE D D E S IG N A L L O C A TIO N BRANDS F O R G R O W TH Strong secular tailwinds for healthcare operations Implication for Tailwind growth trajectory Aging Population 20% Nearly 80% of seniors have two or mo
Slide 20: Sustainable competitive advantages, Durable by design
Durable by design D U RABLE BY C A P ITA L H IG H Q U A L ITY F B S A M P L IF IE D D E S IG N A L L O C A TIO N BRANDS F O R G R O W TH • Differentiated technologies • Differentiated solutions • Accelerating innovation Proprietary data & analytics Sustainable • Network effects competitive + advanta
Slide 21: Diverse revenue profile adds further resiliency
Diverse revenue profile adds further resiliency D U RABLE BY C A P ITA L H IG H Q U A L ITY F B S A M P L IF IE D D E S IG N A L L O C A TIO N BRANDS F O R G R O W TH Intelligent Operating Solutions Advanced Healthcare Solutions Attractive Diverse Attractive Diverse end markets geographies end marke
Slide 22: Recurring revenue drives durability, with continued expansion opportunities
Recurring revenue drives durability, with D U RABLE BY C A P ITA L H IG H Q U A L ITY F B S A M P L IF IE D D E S IG N A L L O C A TIO N BRANDS F O R G R O W TH continued expansion opportunities % of total Recurring revenue Expansion Recurring Transactional Fortive revenue description opportunities
Slide 23: Key messages
Simplified: Focused company with a track record of strong 1 durable financial performance aided by our 50% recurring revenues Poised for acceleration: Strategically advantaged operating 2 brands in attractive markets with a clear path to accelerate value creation Key 3 FBS Amplified: Fortive Busines
Slide 24: Fortive Business System Amplified
Fortive Business System Amplified D U RABLE BY C A P ITA L H IG H Q U A L ITY F B S A M P L IF IE D D E S IG N A L L O C A TIO N BRANDS F O R G R O W TH FBS is our way… …and it’s getting even stronger FBS Amplified: Best practices Operating cadence, toolset for How we to drive growth, and lean funda
Slide 25: Accelerating profitable organic growth
Accelerating profitable organic growth D U RABLE BY C A P ITA L H IG H Q U A L ITY F B S A M P L IF IE D D E S IG N A L L O C A TIO N BRANDS F O R G R O W TH FBS Amplified objectives Initial proof points • Increase velocity of NPI launches aligned to high Innovation Acceleration • growth application
Slide 26: Accelerating profitable organic growth
Accelerating profitable organic growth D U RABLE BY C A P ITA L H IG H Q U A L ITY F B S A M P L IF IE D D E S IG N A L L O C A TIO N BRANDS F O R G R O W TH FBS Amplified objectives Initial proof points • Gain share in core markets and expand High single digit commercial reach in high growth geogra
Slide 27: Accelerating profitable organic growth
Accelerating profitable organic growth D U RABLE BY C A P ITA L H IG H Q U A L ITY F B S A M P L IF IE D D E S IG N A L L O C A TIO N BRANDS F O R G R O W TH FBS Amplified objectives Initial proof points • Shift from transactional product sales to Innovation Acceleration recurring solutions (includi
Slide 28: Accelerating profitable organic growth
Accelerating profitable organic growth D U RABLE BY C A P ITA L H IG H Q U A L ITY F B S A M P L IF IE D D E S IG N A L L O C A TIO N BRANDS F O R G R O W TH Innovation Acceleration Commercial Acceleration Recurring Customer Value 28
Slide 29: Key messages
Simplified: Focused company with a track record of strong 1 durable financial performance aided by our 50% recurring revenues Poised for acceleration: Strategically advantaged operating 2 brands in attractive markets with a clear path to accelerate value creation Key 3 FBS Amplified: Fortive Busines
Slide 30: Clear priorities for capital allocation
Clear priorities for capital allocation D U RABLE BY C A P ITA L H IG H Q U A L ITY F B S A M P L IF IE D D E S IG N A L L O C A TIO N BRANDS F O R G R O W TH Strong Free Cash Flow generation Clear capital allocation priorities Capital light ~2% Invest in organic growth operating model CapEx as % of
Slide 31: New M&A approach
New M&A approach D U RABLE BY C A P ITA L H IG H Q U A L ITY F B S A M P L IF IE D D E S IG N A L L O C A TIO N BRANDS F O R G R O W TH Strategic & Operational Framework Financial Framework • Strategic portfolio coherence, • Supportive to durability and Rigorous strategic, aligned with existing doma
Slide 32: Building on recent bolt-on success
Building on recent bolt-on success D U RABLE BY C A P ITA L H IG H Q U A L ITY F B S A M P L IF IE D D E S IG N A L L O C A TIO N BRANDS F O R G R O W TH Acquisitions Bolt-on to Strategic closed in 2023 existing brands Rational Build on existing Fluke Reliability capabilities 2025E Add to Fluke’s in
Slide 33: Fortive Accelerated financial framework
Fortive Accelerated financial framework PHASE 3: Day 1 Post-Spin PHASE 4: Beyond Simplified Accelerated BEFORE SPIN NEW FORTIVE BASELINE NEXT FEW YEARS FUTURE STATE Q1-2025 LTM Q1-2025 LTM 2026 - 20274 2028 ONWARDS4 Revenue 0-1% 3-4% 3-4% Growth1 ~40% recurring ~50% recurring Core CAGR >50% recurrin
Slide 34: Key messages
Simplified: Focused company with a track record of strong 1 durable financial performance aided by our 50% recurring revenues Poised for acceleration: Strategically advantaged operating 2 brands in attractive markets with a clear path to accelerate value creation Key 3 FBS Amplified: Fortive Busines
Slide 35: Purpose-built leadership team for the next chapter
Purpose-built leadership team Accelerated for the next chapter Experienced, results-oriented leadership team • Deep experience at Fortive and with FBS • Deliberate, strategic external hires Olumide Soroye Mark Okerstrom Stacey Walker Victor Fetter Pete Underwood • >80 years of combined Fortive Incom
Slide 36: Refreshed Board of Directors with highly relevant expertise
Refreshed Board of Directors with highly Accelerated relevant expertise Balanced tenures and diverse perspectives • 100% Independent + CEO • 4 years average tenure • 33% female, 56% ethnically diverse Sharmistha Eric Branderiz Daniel L. Comas Rejji P. Hayes Wright L. Lassiter • 100% senior executive
Slide 37: Extraordinary teams around the world, ready to launch New Fortive
Extraordinary teams around the world, Accelerated ready to launch New Fortive Hong Kong Eindhoven, Netherlands San Diego, United States Bangalore, India Dubai, United Arab Emirates São Paulo, Brazil 37
Slide 38: Wrap up: Fortive Accelerated
Wrap up: Fortive Accelerated 1 2 3 Simplified: Poised for FBS amplified: Focused company, acceleration: Clear Fortive Business high recurring path to growth System enduring revenue acceleration and and improving value creation 4 5 Disciplined capital Purpose-built allocation: Balance team: Energized
Slide 39: Agenda
Elena Rosman Welcome VP, Investor Relations Olumide Soroye Introduction to New Fortive Incoming President & CEO Advanced Healthcare Solutions (AHS) Spotlight: Chad Rohrer Advanced Sterilization Products (ASP) Group President Agenda Intelligent Operating Solutions (IOS) Spotlight: Fluke Parker Burke
Slide 40: Advanced Sterilization Products (ASP)
Advanced Healthcare Solutions (AHS) Spotlight: Advanced Sterilization Products (ASP) Chad Rohrer Group President, Infection Prevention 40
Slide 41: To protect patients in their most critical moments
ASP Our purpose To protect patients in their most critical moments 41
Slide 42: Key messages
Market leadership in attractive applications that 1 align with our differentiated technology, driving sustainable competitive advantage Key 2 Highly recurring revenue and strong market tailwinds support durable, profitable growth messages outlook Transformed business poised to accelerate 3 growth, p
Slide 43: By the numbers
ASP By the numbers Reported ~$0.9B revenue Recurring >80% revenue ASP & Censis ~20% AHS Low single Core Growth IOS digit (5-year CAGR) Number of >15K global customers Number of surgical 30M+ procedures per year Figures represent LTM Q1-25 financials for ASP + Censis, except for Core growth which rep
Slide 44: Who we are: #1 player in low temperature sterilization
ASP Who we are: #1 player in low temperature sterilization STERRAD™ Ultra GI 100S System CensiTrac™ PEGASYS Censis AI2 ™ Cycle 2000 2002 2023 2024 2025 1993 2016 2024 2025 STERRAD™ STERRAD STERRAD™ BIOTRACE™ BIOTRACE™ 100 System VELOCITY™ 100 NX Steam Instant Steam 30-Minute BI ALLClear™ Invented lo
Slide 45: What we do: Sterilization equipment & consumables and instrument tracking software
ASP What we do: Sterilization equipment & consumables and instrument tracking software Terminal Capital and Low temperature sterilization consumables sterilization for valuable instruments Washing and Capital and like endoscopes and consumables disinfection surgical robots Instrument tracking Softwa
Slide 46: Broad customer reach with ~30K global installed base
ASP Broad customer reach with ~30K global installed base ~30K Global install base of sterilization equipment Sterrad representation 100% in top 25 US Hospitals Win rate on low >70% temperature sterilization opportunities1 Indicates location of installed ASP equipment 1. Management estimate based on
Slide 47: Where we play: Attractive and growing addressable market
ASP Where we play: Attractive and growing addressable market Market size Priority procedure categories1 Market drivers GI Endoscope Increasing procedure demand $5B Addressable market Aging population, significant rising middle class, advances in minimally 100M+ Procedures invasive procedures Low sin
Slide 48: Why we win
ASP Why we win Power of Plasma Clinically Our solutions elevate the differentiated standard of care with clinical and scientific evidence 2 Peer reviewed publications in technology medical journals Track record of category NPIs with 510(k) Accelerating inventor with accelerating pace 6 approvals in
Slide 49: How we outperform with FBS
ASP How we outperform with FBS Performance since acquisition by Fortive How we Best practices to drive ~Flat operate the Core growth e growth and before acquisition¹ nc business deliver results de Ca To FBS o ls AMPLIFIED Mindset Mid single digit Continuous Core growth (2022 to 2024)¹ improvement cu
Slide 50: FBS case study: Outcomes
ASP FBS case study: Outcomes Commercial acceleration >2,000bps Acceleration in North America Situation consumables growth1 • Declining North America consumable sales due to distributors pushing competitive products • Incomplete demand visibility 98% Customers converted to direct model • Limited dire
Slide 51: Fortive Accelerated: Profitable growth drivers
ASP Fortive Accelerated: Profitable growth drivers Innovation Acceleration Commercial Acceleration Recurring Customer Value Increasing NPI velocity Expanding addressable market Trusted advisor Expand device indications for low- Expand into adjacent markets Thought leadership, including temperature s
Slide 52: Key messages
Market leadership with differentiated 1 technology Key 2 Highly recurring revenue and strong market tailwinds messages Poised to accelerate growth, profitability, and 3 cash flow generation 52
Slide 53: Agenda
Elena Rosman Welcome VP, Investor Relations Olumide Soroye Introduction to New Fortive Incoming President & CEO Advanced Healthcare Solutions (AHS) Spotlight: Chad Rohrer Advanced Sterilization Products (ASP) Group President Agenda Intelligent Operating Solutions (IOS) Spotlight: Fluke Parker Burke
Slide 54: Fluke
Intelligent Operating Solutions (IOS) Spotlight: Fluke Parker Burke Group President, Fluke 54
Slide 55: Keeping the world up and running
Fluke Our Purpose Keeping the world up and running 55
Slide 56: Key messages
Fluke is an iconic, market-leading professional 1 instrumentation brand, known for safety, precision, quality, and innovation Key 2 Fluke’s addressable market has doubled and is benefiting from durable secular tailwinds messages Fluke today is a more resilient business, 3 well-positioned to deliver
Slide 57: By the numbers
Fluke By the numbers ~$1.7B Reported revenue Recurring ~15% revenue ~40% Fluke AHS Mid single Core Growth IOS digit (5-year CAGR) >50K Number of customers >2,000 Number patents of All figures except core growth represent LTM Q1-2025 financials for Fluke, including the results of SSO service business
Slide 58: Who we are: Market leader in professional instrumentation
Fluke Who we are: Market leader in professional instrumentation 1948 1970 1998 2005 / 2006 2019 2023 Founding of First Digital Fluke Acquired IR Cameras; Pruftechnik Azima DLI Fluke Multimeter by Danaher Power Quality Acquisition Acquisition Corporation Analyzers 1952 1992 2000 2010 2016 2023 Entere
Slide 59: What we do: Broad portfolio of professional instrumentation, software and services
Fluke What we do: Broad portfolio of professional instrumentation, software and services for industrial applications Unmatched breadth of professional Leader in metrology and Supporting the complete customer instrumentation product portfolio precision measurement workflow with software and services
Slide 60: Where we play: Professional instrumentation addressable market continues to expand
Fluke Where we play: Professional instrumentation addressable market continues to expand Growing Fluke portfolio from $7B to $15B addressable market Robust market drivers 2024 Growth in Data Centers, Connected Reliability & Predictive Industrial output Maintenance Higher output drives increased $3B+
Slide 61: Why we win
Fluke Why we win Brand recognition built over 70+ year Global industry legacy – known for safety, precision, quality and innovation leading brand Available in ~150 countries Intense focus on accelerating NPIs 20+ NPIs launched in last 18 months Accelerating and leveraging AI to drive innovation engi
Slide 62: Customer case study: NTT Global Data Centers
Fluke Customer case study: NTT Global Data Centers Situation Solution Customer value created 1,000s of assets tracked using eMaint Deployed Fluke software and hardware to track & maintain assets. ü Deployed a reliability-center maintenance program centered on • World’s third-largest data center cont
Slide 63: How we outperform with FBS
Fluke How we outperform with FBS Performance last 5 years How we Best practices >300bps to drive Improvement in operate the recurring revenue¹ e growth and nc business deliver results de Ca To FBS >500bps o ls AMPLIFIED Operating margin expansion Mindset Continuous +5 improvement culture Turn improv
Slide 64: FBS case study: Innovation acceleration
Fluke FBS case study: Innovation acceleration FBS Initiatives Policy Deployment: Innovation Funnel Engineering Growth added to Policy Efficiency Deployment 2022 2023 2024 Lean Portfolio LPM “Dream” focus CEO Kaizen/ Management (LPM) Business Model installed Validation Accelerator ~3X increase in siz
Slide 65: Fortive Accelerated: Profitable growth drivers
Fluke Fortive Accelerated: Profitable growth drivers Innovation Acceleration Commercial Acceleration Recurring Customer Value Increasing NPI velocity High Growth Market Expansion Maximize NDR Enhancing product Product and go-to-market Expand customer value capabilities for the needs focused on energ
Slide 66: Key messages
Iconic, market-leading professional 1 instrumentation brand Key 2 Expanding addressable market with durable secular tailwinds messages Resilient business, well-positioned for 3 consistent growth 66
Slide 67: Agenda
Elena Rosman Welcome VP, Investor Relations Olumide Soroye Introduction to New Fortive Incoming President & CEO Advanced Healthcare Solutions (AHS) Spotlight: Chad Rohrer Advanced Sterilization Products (ASP) Group President Agenda Intelligent Operating Solutions (IOS) Spotlight: Fluke Parker Burke
Slide 68: Facility and Asset Lifecycle (FAL) Software
Intelligent Operating Solutions (IOS) Spotlight: Facility and Asset Lifecycle (FAL) Software Arul Elumalai Group President, Facility & Asset Lifecycle Software 68
Slide 69: Manage built environments to deliver outstanding experiences
Facility and Asset Lifecycle Software Our purpose Manage built environments to deliver outstanding experiences 69
Slide 70: Key messages
3 leading software brands serving targeted 1 attractive win zones in facility and asset lifecycle Key 2 Differentiated by network effects, proprietary data & insights and industry expertise messages Product innovation and SaaS conversion driving 3 margin accretive growth 70
Slide 71: By the numbers
Facility and Asset Lifecycle Software By the numbers ~$0.7B Reported revenue ~60% Recurring revenue ~85% Recurring + reoccurring revenue¹ AHS Mid single Core Growth IOS digit (5-year CAGR) ~20% Facilities & 25B+ Non-residential sq. ft touched Asset Lifecycle Software 80K+ Subscribers and providers c
Slide 72: Who we are: #1 player in facilities and asset lifecycle management software
Facility and Asset Lifecycle Software Who we are: #1 player in facilities and asset lifecycle management software 1990 Gordian Founded, 2014 2023 1942 construction cost Gordian Cloud RSMeans Founded, RSMeans joins analytics Platform construction cost Gordian estimating 2018 Maintenance 1982 1999 Con
Slide 73: What we do
Facility and Asset Lifecycle Software Construction What we do Build planning, estimating and procurement Software products and services enabling customers to automate targeted mission critical workflows across Facility & Build, Operate, Maintain Asset Lifecycle phases of facilities and asset Softwar
Slide 74: Where we play
Facility and Asset Lifecycle Software Where we play Large and growing markets favored by secular trends Construction ~$11B software and data ~$5B Aging infrastructure Addressable Addressable market market $1T+ and growing Sustainability Compliance maintenance backlog Integrated workplace and site ma
Slide 75: Why we win
Facility and Asset Lifecycle Software Why we win Proprietary data Proprietary data and benchmarks that unlock optimization 90K+ construction cost line opportunities in workflows and analytics items benchmarked Deep industry 20+ years of industry knowledge 10M+ and workflow context built into experti
Slide 76: Customer case study
Facility and Asset Lifecycle Software Customer case study Situation Solution Customer value created Secured contract for Service Channel and Accruent for all 100% Multi-site retailer tagging of serialized assets customer locations with >650 locations for automated tracking and maintenance ~40% Asset
Slide 77: How we outperform with FBS
Facility and Asset Lifecycle Software How we outperform with FBS Performance over the last 5 years How we Best practices ~4x to drive New product vitality operate the e growth and improvement¹ nc business deliver results de Ca To FBS >500bps o ls AMPLIFIED Net dollar retention improvement Mindset Co
Slide 78: FBS case study: Margin and FCF accretive growth in SaaS
Facility and Asset Lifecycle Software FBS case study: Margin and FCF accretive growth in SaaS ServiceChannel impact (FY 2024) R&D acceleration, Cloud Ops maturity and expansion with FBS High-teens SaaS revenue growth FBS actions • Innovation acceleration: Product “dream to delivery” +500 bps time re
Slide 79: Fortive Accelerated: Profitable growth drivers
Facility and Asset Lifecycle Software Fortive Accelerated: Profitable growth drivers Innovation Acceleration Commercial Acceleration Recurring Customer Value Accelerating new SaaS and AI Broadened international SaaS GTM and customer success enabled capabilities footprint motion Gordian Cloud Commerc
Slide 80: Key messages
1 3 leading software brands Key 2 Network effects, proprietary data & insights and industry expertise messages 3 Multiple levers to drive margin-accretive growth 80
Slide 81: Agenda
Elena Rosman Welcome VP, Investor Relations Olumide Soroye Introduction to New Fortive Incoming President & CEO Advanced Healthcare Solutions (AHS) Spotlight: Chad Rohrer Advanced Sterilization Products (ASP) Group President Agenda Intelligent Operating Solutions (IOS) Spotlight: Fluke Parker Burke
Slide 82: Financial Overview
Financial Overview Mark Okerstrom Chief Financial Officer 82
Slide 83: Key messages
Attractive Business Poised for Acceleration 1 Market leading brands in attractive market segments. Acceleration on Day 1 and clear plan to drive more through Fortive Business System Amplified. Capital Allocation Approach Geared to Enhance Shareholder Returns 2 Disciplined approach to capital allocat
Slide 84: Key financial figures
Key financial figures $4.1B $2.6B $1.2B $1B Revenue Adj. Gross Profit Adj. EBITDA Free Cash Flow 3-4% ~50% 64% 29% >100% Revenue Recurring Adj. Gross Adj. EBITDA Adj. Net Income Growth¹ Revenue Margins Margins to FCF Conversion Favorable Product Mix Diverse End Markets Attractive Geographic Footprin
Slide 85: Durable growth with strong operating leverage – Financial coherence across the segments
Durable growth with strong operating leverage – Financial coherence across the segments Revenue ($B) Adj. Gross Profit ($B) Adj. EBITDA ($B) Free Cash Flow ($B) 4% Core growth 9% 12% 12% CAGR CAGR1 CAGR2 CAGR3 8% reported 4.1 2.6 1.2 0.9 3.9 2.5 3.7 2.3 1.0 0.8 3.4 0.9 2.1 0.7 2.9 IOS 1.8 IOS 0.8 IO
Slide 86: High and growing recurring revenue drives durability
High and growing recurring revenue drives durability Reported 11% 899 967 Recurring Recurring Rev Intelligent 708 841 Rev $ CAGR¹ Operating 572 626 (Reported) Solutions 1,826 Nonrecurring Rev $ 1,530 1,693 1,786 (IOS) 1,391 1,320 Non-Recurring Rev CAGR 2019 2020 2021 2022 2023 2024 (Reported) Advanc
Slide 87: Fortive Accelerated financial framework
Fortive Accelerated financial framework PHASE 3: Day 1 Post-Spin PHASE 4: Beyond Simplified Accelerated BEFORE SPIN NEW FORTIVE BASELINE NEXT FEW YEARS FUTURE STATE Q1-2025 LTM Q1-2025 LTM 2026 - 20274 2028 ONWARDS4 Revenue 0-1% 3-4% 3-4% Growth1 ~40% recurring ~50% recurring Core CAGR >50% recurrin
Slide 88: Clear priorities and goals for capital allocation
Clear priorities and goals for capital allocation Invest in accelerating organic growth, 1 Organic growth in a disciplined way Bias to bolt-on acquisitions that pass Allocate capital 2 M&A rigorous strategic, operational & financial assessment based on highest relative risk- Primary method for retur
Slide 89: New M&A approach
New M&A approach Strategic & Operational Framework Financial Framework • Strategic portfolio coherence, • Supportive to durability and Rigorous strategic, aligned with existing domain growth, attractive expertise margins/potential operational and financial • Clear “Right to Win” with strong • Attrac
Slide 90: Strong balance sheet with opportunities to use leverage conservatively
Strong balance sheet with opportunities to use leverage conservatively to drive better equity returns New Fortive Pro Forma Capitalization As of Q1 2025 Pro Forma ($M) Cash, cash equivalents and short-term $1,192M investments Committed to investment-grade Commercial Paper $730M credit rating 3.15% U
Slide 91: Investment Thesis on a Page: 3 Pillars and a Clear Plan
Investment Thesis on a Page: 3 Pillars and a Clear Plan 1 Attractive Business with Strong Prospects. Acceleration on Day 1 with More to Come 2 New Capital Allocation Approach Geared to Enhance Shareholder Returns 3 Building and Maintaining Investor Trust as a Core Part of the Value Creation Plan Run
Slide 92: Key messages
Attractive Business with Strong Prospects. 1 Acceleration on Day 1 with More to Come Key 2 New Capital Allocation Approach Geared to Enhance Shareholder Returns messages Building and Maintaining Investor Trust 3 as a Core Part of the Value Creation Plan Powerful Framework for Value Creation 92
Slide 93: Agenda
Elena Rosman Welcome VP, Investor Relations Olumide Soroye Introduction to New Fortive Incoming President & CEO Advanced Healthcare Solutions (AHS) Spotlight: Chad Rohrer Advanced Sterilization Products (ASP) Group President Agenda Intelligent Operating Solutions (IOS) Spotlight: Fluke Parker Burke
Slide 94: Q&A
Elena Rosman Olumide Soroye Mark Okerstrom Vice President, Investor Incoming President and CEO Chief Financial Officer Relations Q&A Chad Rohrer Parker Burke Arul Elumalai Group President, Infection Group President, Fluke Group President, Facility & Prevention Asset Lifecycle Software 94
Slide 95: Agenda
Elena Rosman Welcome VP, Investor Relations Olumide Soroye Introduction to New Fortive Incoming President & CEO Advanced Healthcare Solutions (AHS) Spotlight: Chad Rohrer Advanced Sterilization Products (ASP) Group President Agenda Intelligent Operating Solutions (IOS) Spotlight: Fluke Parker Burke
Slide 96: Wrap up: Fortive Accelerated
Wrap up: Fortive Accelerated 1 2 3 Simplified: Poised for FBS Amplified: Focused company, acceleration: Clear Improved Fortive high recurring path to growth Business System revenue acceleration and value creation 4 5 Disciplined capital Purpose-built allocation: Balance team: Energized share repurch
Slide 97: Fortive Investor Day
June 10, 2025 Fortive Investor Day 97
Slide 98: Appendix
FORTIVE Appendix
Slide 99: Core Revenue Growth
Core Revenue Growth Total Fortive Last Twelve Components of Revenue Growth Months Ended March 28, 2025 Total revenue growth 0.9% Excluding impact of: Acquisitions and divestitures (1.3%) Currency exchange rates 0.7% Core revenue growth 0.3% 99
Slide 100: Adjusted Gross Profit and Adjusted Gross Profit Margin
Adjusted Gross Profit and Adjusted Gross Profit Margin Three Months Ended Last Twelve Months Ended September 27, December 31, ($ in millions) June 28, 2024 2024 2024 March 28, 2025 March 28, 2025 Revenue (GAAP) $ 1,552.4 $ 1,534.6 $ 1,620.3 $ 1,474.2 $ 6,181.5 Gross Profit (GAAP) $ 928.3 $ 921.3 $ 9
Slide 101: Adjusted EBITDA and Adjusted EBITDA Margin
Adjusted EBITDA and Adjusted EBITDA Margin Three Months Ended Last Twelve Months Ended Three Months Ended Last Twelve Months Ended September 27, September 29, ($ in millions) June 28, 2024 2024 December 31, 2024 March 28, 2025 March 28, 2025 June 30, 2023 2023 December 31, 2023 March 29, 2024 March
Slide 102: Adjusted Net Earnings and Adjusted Net Earnings Per Share
Adjusted Net Earnings and Adjusted Net Earnings Per Share Three Months Ended Last Twelve Months Ended Three Months Ended Last Twelve Months Ended September 27, September 29, ($ in millions) June 28, 2024 2024 December 31, 2024 March 28, 2025 March 28, 2025 June 30, 2023 2023 December 31, 2023 March
Slide 103: Free Cash Flow
Free Cash Flow Three Months Ended Last Twelve Months Ended Three Months Ended Last Twelve Months Ended September 27, September 29, June 28, 2024 2024 December 31, 2024 March 28, 2025 March 28, 2025 June 30, 2023 2023 December 31, 2023 March 29, 2024 March 29, 2024 Operating Cash Flows (GAAP) $ 308.9