The world leader in serving scienceProprietary & Confidential

Marc N. CasperChairman, President and Chief Executive Officer

Annual Meeting of Shareholders

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Safe Harbor Statement

Various remarks that we may make about the company’s future expectations, plans and

prospects constitute forward-looking statements for purposes of the safe harbor provisions

under The Private Securities Litigation Reform Act of 1995. Actual results may differ materially

from those indicated by these forward-looking statements as a result of various important

factors, including those discussed in the company’s most recent Quarterly Report on Form

10-Q under the caption “Risk Factors,” which is on file with the Securities and Exchange

Commission and available in the “Investors” section of our website under the heading “SEC

Filings.” While we may elect to update forward-looking statements at some point in the future,

we specifically disclaim any obligation to do so, even if our estimates change and, therefore,

you should not rely on these forward-looking statements as representing our views as of any

date subsequent to today.

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Non-GAAP Measures

During this presentation, we will be referring to certain financial measures not prepared in

accordance with generally accepted accounting principles, or GAAP. The non-GAAP financial

measures of Thermo Fisher’s results of operations and cash flows included in this presentation

are not meant to be considered superior to or a substitute for Thermo Fisher’s results of

operations prepared in accordance with GAAP. Definitions of these non-GAAP financial

measures, as well as, for historical periods, a reconciliation of the non-GAAP financial

measures to the most directly comparable GAAP measures, are available under the heading

“GAAP/Non-GAAP Reconciliation & Financial Package” in the “Investors” section of our

website, thermofisher.com.

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employees75,000

invested in R&D$1B

revenue$25B

Unmatched depth of capabilities

• Leading innovative technologies

• Deep applications expertise

• Premier productivity partner

• Comprehensive Pharma services offering

Industry-leading scale

• Unparalleled commercial reach

• Unique customer access

• Expanding global footprint

Powered by our Practical Process Improvement (PPI) Business System

Thermo Fisher Scientific is the world leader in serving science

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Capital Deployment• Strategic M&A

• Return of capital

Growth Strategy• High-impact innovation

• Scale in high-growth and emerging markets

• Unique customer value proposition

PPI Business System• Productivity

• Quality

• Customer Allegiance

Consistentlydelivering

strong EPS growth

Our proven formula for long-term success

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Thank you

Another excellent year

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2018 2019

5% Growth

Revenue ($B)

$24.4 $25.5

2018 2019

11% Growth

Adjusted EPS

$12.35

2018 2019

6% Growth

Free Cash Flow ($B)

$3.8 $4.1$11.12

Exceptional financial performance

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Another excellent year of high-impact innovation

2019 Product Introduction Highlights

Innovation investments put us at the forefront of scientific advances

Vanquish MD HPLC

ImmunoCAP ISAC allergen panel

TMTpro Label reagents

Thermo Scientific Krios G4 TEM

Genexusintegrated sequencer

Orbitrap Exploris 480mass spectrometer

Orbitrap Eclipsemass spectrometer

QuantStudio 6 and 7real-time PCR instruments

CTS LV-MAX lentiviral

production system

GP PRO centrifuge

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Leveraging our scale in high-growth and emerging markets

Opened Customer Experience Centers in India and South Korea

Opened Pharma and Biotech Customer Solution Center in Shanghai, China

Expanded clinical trials operationin Suzhou, China

Another great year of growth in China Continuous investments to meet growing and evolving customer needs

2018 2019

$2.5B

$2.8B

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Internal capacity expansionsTargeted M&A

Acquired world-class facility from pharma customer

Added new capabilities

Completed our Patheon integration and continued our three-pronged investment strategy to expand and strengthen our CDMO offering

Strengthening ourvalue proposition

Invested in ourstate-of-the-art facilities

to meet high customer demand

Expanding our networkin select areas

GlaxoSmithKline Cork, Ireland API

Delivering a unique value proposition to our Pharma and Biotech customers

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Thank you

Strengthening our industry leadership

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Our guiding principles for managing through the pandemic

• Ensure the safety of our colleagues

• Maintain business continuity to enable and support our customers

• Manage the company appropriately to position ourselves for an even brighter future

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Our Mission: Response to COVID-19 is a powerful example

We enable our customers to make the world healthier, cleaner and saferWe enable our customers to make the world healthier, cleaner and safer

Providing personal protective equipment for those on the front lines

Developed FDA EUA COVID-19 testing kits and

instruments to fight COVID-19 globally

Shifting resources to make hand sanitizer for

colleagues and customers

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89%89%

Revenue by Product

11%11%

Consumables

Instruments /Services

QIAGEN: Strengthening our unique customer value proposition

21%21%

32%32%

47%47%

EMEA

Americas

Asia Pacific / Rest of World

Revenue by Geography

• A leading global provider of molecular diagnostics and sample preparation technologies

• Product portfolio serves high-growth markets

• 2019 Revenue: $1.53B

• Adj. operating income margin of 28%

• 5,100 employees globally

Note: Financials reflect LTM as of December 31, 2019

52%52%Revenue by Customer

48%48%Life

SciencesMolecular Diagnostics

QIAstatSyndromic testing

QIAcuitydPCR systems

(launching mid-2020)

QuantiFERONIGRA immune response tests

QIAgilityAssay prep systems Bioinformatics

DNA / RNA / ProteinPurification kits

Attractive Revenue Profile

QIASymphonyAutomated sample prep and

assay setup

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Strategic rationale for acquisition of QIAGEN

• Expands specialty diagnostics portfolio with attractive molecular diagnostics capabilities, including infectious disease testing

• Complements leading life sciences offering with innovative sample preparation, assay and bioinformatics technologies

• Provides opportunity to leverage our industry-leading capabilities and R&D expertise to accelerate innovation and address emerging healthcare needs

• Leverages Thermo Fisher’s extensive commercial and geographic reach to expand customer access to QIAGEN’s product portfolio

• Delivers attractive financial benefits and shareholder value creation through our PPI Business System, including our proven integration approach

• Expands specialty diagnostics portfolio with attractive molecular diagnostics capabilities, including infectious disease testing

• Complements leading life sciences offering with innovative sample preparation, assay and bioinformatics technologies

• Provides opportunity to leverage our industry-leading capabilities and R&D expertise to accelerate innovation and address emerging healthcare needs

• Leverages Thermo Fisher’s extensive commercial and geographic reach to expand customer access to QIAGEN’s product portfolio

• Delivers attractive financial benefits and shareholder value creation through our PPI Business System, including our proven integration approach

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We are committed to doing business the right way

EnvironmentInnovating to serve our

customers while consciously minimizing our own footprint

ColleaguesEmbracing unique perspectives

to reach our full potential as one global team

CommunitiesMaking a difference worldwide with an emphasis on promoting

STEM education

OperationalIntegrity

Ensuring proper practices and ethics throughout our business

and relationships

• We take deliberate actions to address sustainability issues today – in environmental, social governance and economic areas – in order to strengthen our business for tomorrow’s customers, colleagues and communities

• Our approach focuses in areas that are aligned to our strategy and material to our stakeholders

In alignment with our Mission

Our investments create long-term value and ensure a sustainable future for all stakeholders

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The unrivaled leader in serving science and one of the world’s most admired companies

An incredibly talented global team that brings diverse perspectives, collaborative energy and a passion to excel every day

Our customer-centric culture delivers a unique value proposition and sustained competitive advantage

Our unwavering commitment to innovation and to leadership in digital science enables our customers to make the world healthier, cleaner and safer

An exceptional track record of consistentlydelivering strong financial performance

Our team is aligned to achieve our 2030 Vision