Page 1

• • • • FORTIVE Fortive Reports Strong First Quarter 2021 Results Raises Full - Year 2021 Revenue and EPS Guidance Continued top - line improvement ; total revenue up 13.6 % , core revenue up 9.1 % SaaS growth momentum driving performance of broader software offerings Strong core operating margin expansion ( OMX ) across all three segments Accelerating investments in data analytics and early - stage innovation projects EVERETT , WA , April 29 , 2021 - Fortive Corporation ( “ Fortive ” ) ( NYSE : FTV ) today announced results for the first quarter 2021 . For the first quarter ended April 2 , 2021 , net earnings from continuing operations were $ 111.7 million . For the same period , adjusted net earnings from continuing operations were $ 229.1 million . Diluted net earnings per share from continuing operations for the first quarter ended April 2 , 2021 were $ 0.28 . For the same period , adjusted diluted net earnings per share from continuing operations were $ 0.63 . For the first quarter of 2021 , revenues from continuing operations increased 13.6 % year - over - year to $ 1.3 billion , which reflected core revenue growth of 9.1 % . James A. Lico , President and Chief Executive Officer , stated , “ We are pleased with our results in the first quarter of 2021. Focused execution across the portfolio enabled us to deliver a solid start to the year as momentum improved in many of our markets . With the broad - based improvement across the portfolio , and continued strength in our SaaS offerings , we generated core revenue growth of 9.1 % , which was above the high end of our guidance . Improved growth and operating margin expansion in the quarter drove a 37.0 % year - over - year increase in adjusted earnings per share and strong free cash flow . " For the second quarter of 2021 , Fortive anticipates diluted net earnings per share from continuing operations to be in the range of $ 0.32 to $ 0.36 and adjusted diluted net earnings per share from continuing operations to be in the range of $ 0.56 to $ 0.60 . For the full year 2021 , Fortive anticipates diluted net earnings per share from continuing operations to be in the range of $ 1.50 to $ 1.60 and adjusted diluted net earnings per share from continuing operations to be in the range of $ 2.50 to $ 2.60 . Mr. Lico added , “ Our first quarter results demonstrated the power of the Fortive Business System to drive improved performance across all parts of our portfolio . Looking ahead , we are accelerating our investments in key organic growth initiatives , as well as building additional capacity to drive future innovation . With strong free cash flow and significant balance sheet capacity , we are also well positioned to continue pursuing a range of attractive capital allocation priorities . " Fortive will discuss results and outlook during its quarterly investor conference call today starting at 5:30 p.m. ET . The call and an accompanying slide presentation will be webcast on the " Investors " section of Fortive's website , www.fortive.com , under “ Events & Presentations . " A replay of the webcast will be available at the same location shortly after the conclusion of the presentation and will remain available until the next quarterly earnings call . 1