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Forward Looking Statements

We want to remind everyone that our comments may contain forward-looking statements that are inherently subject to uncertainties. We caution everyone to be guided in their analysis of Dover Corporation by referring to our Form 10-K for a list of factors that could cause our results to differ from those anticipated in any such forward looking statements.

We would also direct your attention to our internet site, www.dovercorporation.com, where considerably more information can be found.

ver Investor Day Agenda

Time Presenter Topic

1:05 — 1:35 Bob Livingston Dover Strategy — The Dover Way 1:35 — 1:45 Steve Sellhausen Disciplined M&A

1:45 — 1:55 Jim Moyle Global Procurement Initiative 1:55 — 2:55 Segment Presidents Segment Overviews

Ray Hoglund (DES) Bill Spurgeon (DFM) Tom Giacomini (DIP) Dave Van Loan (DET)

2:55 — 3:10 Brad Cerepak Dover Financial Goals and Metrics 3:10 — 3:15 Bob Livingston Summary and Conclusion 3:15 — 3:45 Bob Livingston Q&A 3:45 — 4:00 Refreshment Break 4:00 — 5:00 Segment Presidents Segment Q&A Breakouts 5:00 Dover Reception

Dover Investor Day Agenda

Time Presenter Topic

1:00 — 1:05 Paul Goldberg Welcome and Introduction

1:05 — 1:35 Bob Livingston Dover Strategy — The Dover Way

1:35 — 1:45 Steve Sellhausen Disciplined M&A

1:45 — 1:55 Jim Moyle Global Procurement Initiative 1:55 — 2:55 Segment Presidents Segment Overviews

Ray Hoglund (DES) Bill Spurgeon (DFM) Tom Giacomini (DIP) Dave Van Loan (DET)

Many Changes at Dover Over Past Year

Brad Cerepak Joe Schmidt VP Finance and CFO VP General Counsel and Secretary

Tom Giacomini Steve Sellhausen President, Industrial Products VP Corporate Development

Ray Hoglund Bill Spurgeon President, Engineered Systems President, Fluid Management

Jay Kloosterboer Dave Van Loan VP Human Resources President, Electronic Technologies

Bob Livingston Michael Zhang President & CEO Managing Director, China

Jim Moyle VP Global Sourcing & Supply Chain

Many Changes at Dover Over Past Year

Brad Cerepak Joe Schmidt VP Finance and CFO VP General Counsel and Secretary

Tom Giacomini Steve Sellhausen President, Industrial Products VP Corporate Development

Ray Hoglund Bill Spurgeon President, Engineered Systems President, Fluid Management

Jay Kloosterboer Dave Van Loan VP Human Resources President, Electronic Technologies

Bob Livingston Michael Zhang President & CEO Managing Director, China

Jim Moyle VP Global Sourcing & Supply Chain New to role 6

Many Changes at Dover Over Past Year

Brad Cerepak Joe Schmidt VP Finance and CFO VP General Counsel and Secretary

Tom Giacomini Steve Sellhausen President, Industrial Products VP Corporate Development

Ray Hoglund Bill Spurgeon President, Engineered Systems President, Fluid Management

Jay Kloosterboer Dave Van Loan VP Human Resources President, Electronic Technologies

Bob Livingston Michael Zhang President & CEO Managing Director, China

Jim Moyle New to role VP Global Sourcing & Supply Chain New to Dover 7

Our Past 10 Years

Challenges in M&A arena

Slow response to ‘00-’01 economic downturn

Better alignment and integration needed with acquisitions

Maintained market-leading position

Maintained focus on generating strong cash flow

Actively shaping our portfolio

Improved and standardized M&A and PMI processes

Decisively and aggressively dealing with economic downturn 8

Our Advantaged Business Model

Attractive portfolio of highly-profitable, industrial businesses with strong market positions Entrepreneurial operating company leadership empowered to win with customers Winning through application-specific innovation driving customer value Delivering organic and acquisitive growth in attractive spaces

A continued focus on customers, market leadership, cash generation 9

Customer Focused, Entrepreneurial Operating Company Leadership Empowered to Win

Close to customers, channels, and competitors Compete on customer value rather than price Ability to act fast, respond to market changes quickly Earn high-gross margins Application-specific product Win with winners innovation, providing Attract and retain best leaders tangible value to customers in the industry Precision pricing Grow faster than our markets Operational resources aligned with market strategy

Operating Company Performance Enhanced by Dover Scale

Procurement Leverage combined buying Operating company leadership power of Dover able to focus on customers, products and technology Regional infrastructure Utilize capacity and resources Improved cash “drop through” across company boundaries from every dollar of growth Advantaged cost structures Shared technology and facilities Provide attractive career paths Cross business product and develop talent base to its development full potential Shared manufacturing centers

Healthy Portfolio Positioned for Growth

Electronic Leading market positions, strong industrial brands Technologies (18%) Value-added in engineering, design and marketing Fluid Management Intense customer intimacy (22%)

Application-specific innovation, creating value Industrial for customers Products (28%) Sustainable growth, exposure to tailwinds and growth drivers

Longer product life cycles with evolutionary Systems technology shifts

2009e Revenue 100% = $5.6-5.8B 17

Significant Exposure to a Number of Favorable Global Macro Growth Trends — ‘Tailwinds’

Increased demand, depleting resources Renewable energy technologies Emerging market growth

Energy efficiency Environmentally friendly products Recycling Clean energy

Product identification Traceability Food safety

Mobile devices Defense spending/ geopolitics Infrastructure

Increased living standards Infrastructure build-out Manufacturing/LCC capabilities 18

Overarching Goal: Drive Sustained Shareholder Returns

Objective: Sustained top-quartile TSR

4-5% through-cycle Drive margin organic growth improvement Disciplined capital allocation Balance of growth Expand return on from disciplined invested capital Maintain ongoing acquisitions in return of cash to attractive sectors Leverage shareholders Dover scale

Supporting • Compensation linked to TSR • Well defined and actively governed M&A/PMI processes infrastructure • Talent development programs 21

Dover Investor Day Agenda

Time Presenter Topic

1:00 — 1:05 Paul Goldberg Welcome and Introduction 1:05 — 1:35 Bob Livingston Dover Strategy — The Dover Way

1:35 — 1:45 Steve Sellhausen Disciplined M&A

1:45 — 1:55 Jim Moyle Global Procurement Initiative 1:55 — 2:55 Segment Presidents Segment Overviews

Ray Hoglund (DES) Bill Spurgeon (DFM) Tom Giacomini (DIP) Dave Van Loan (DET)

M&A Core to Dover Strategy

Acquisition spend or divestiture as % of revenue (%) 25

Stand alone 20 acquisitions

15 Strategic add-on acquisitions 10 Avg = 8%

5 Corning Freq. 0 Rasco Avg = 2% -5 Hydratight Tranter AC Compressor Divestitures -10 Mark Andy Dovatech Universal

-15 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 YTD

Robust Acquisition/Divestiture Processes Established

Proactively pursue businesses with attractive Dover business model Focus on “expandable” growth spaces — link to capital allocation Acquisitions where current Dover Platforms enable value creation Address low-fit businesses — operational/divestiture

Explicit deal board and due diligence processes “Value stack” transaction assessment linked to post-close actions Discipline Valuation discipline: acquisitions compete with share buybacks

Repeatable, scalable, resourced process for acquisition integrations Integration Standardized tools, scorecards, metrics and reporting/tracking Discipline Focused and accountable management (sponsor, integration manager)

Proactively Shaping Dover M&A Pipeline

Proactively pursue businesses with attractive Dover business model Linked to strategy & portfolio review Fits common Dover business model Formal search & screen criteria

Primary focus on strategic add-on deals Maximizes value creation potential

Focus on continued international expansion

Traditional focus on private deals, though open to public deals

Focus on $50M — $500M sweet spot

Example: Disciplined M&A Process Acme Acquisition Integration Performance

Category of acquisition Sponsor Integration Manager Acquisition date Current date Add-on J. Smith M. Jones 1/1/09 8/1/09 Original planned results Realized results Financial performance ($M) 2009 2010 Cumulative Cumulative Cumulative On (for specified period) 1Q 2Q 3Q 4Q Tot 1Q 2Q 3Q 4Q Tot plan to date actual to date estimate track? Sales (overall) 50 50 55 60 215 60 65 65 70 260 118 130 500 EBIT (overall) 3 3 4 7 17 7 8 9 11 35 7 9 55 EBIT margin % (overall) 6 6 7 12 8 12 12 14 16 14 6 7 11 FCF (overall) 1 2 2 4 9 4 5 6 7 22 3 4 35 Planned integration impact Realized results Integration impact ($M) 2009 2010 Cumulative Cumulative On (achieved by quarter) 1Q 2Q 3Q 4Q Tot 1Q 2Q 3Q 4Q Tot Plan to date Realized to date track? EBIT impact SG&A reduction 0.1 0.3 0.3 0.3 1.0 0.3 0.3 0.3 0.3 1.2 0.7 0.7 Cross-selling — - 1.0 1.0 2.0 1.0 1.0 1.0 1.0 4.0 1.0 0.7 Sourcing savings — - — 2.0 2.0 2.0 2.0 2.0 2.0 8.0 — -Plant consolidation — - — - — - 2.5 2.5 2.5 7.5 — -Total EBIT impact 0.1 0.3 1.3 3.3 5.0 3.3 5.8 5.8 5.8 20.7 1.7 1.4

FCF impact Inventory reduction — - — 2.0 2.0 — - — - — - -One time capital impacts (cash) — - — - — - — - — - — -One time non-capital impacts (cash) — - — - — (1.0) — - — (1.0) — -

Integration economics Projected Latest estimate Integration assessment Total one time impacts (cash) $201M $201M Underlying business growing faster than expected due to new 3-year incremental iTSR 5% 5% product launch that has increased share. SG&A reduction 3-year standalone iTSR 17% 18% completed on time and realized target. Cross-selling slightly After-tax IRR 14% 16% below target due to delays in salesperson training. Cash payback Year 8 Year 7 On track (above commitment) At risk (<20% below commitment) Off track (>20% below commitment)

Continuing to Pursue and Execute Attractive Deals: Hill PHOENIX Acquisition of Tyler Refrigeration

Deal closed May 2009

Exceeding planned customer retention rates

Tyler technology incorporated in Hill PHOENIX products within 4 weeks of close

All Tyler volume absorbed into Hill PHOENIX facility — no delayed or missed orders

Value capture ahead of plan

Key step in Hill PHOENIX strategy

Dover Investor Day Agenda

Time Presenter Topic

1:00 — 1:05 Paul Goldberg Welcome and Introduction 1:05 — 1:35 Bob Livingston Dover Strategy — The Dover Way 1:35 — 1:45 Steve Sellhausen Disciplined M&A

1:45 — 1:55 Jim Moyle Global Procurement Initiative 1:55 — 2:55 Segment Presidents Segment Overviews

Ray Hoglund (DES) Bill Spurgeon (DFM) Tom Giacomini (DIP) Dave Van Loan (DET)

New Strategic Direction for Procurement

Historically, procurement highly decentralized Move from tactical buying — >30 businesses, >200 plants to strategic procurement — Procurement fragmented across many locations Shifting to a more global supply base Identified significant overlap in purchasing Capture value from across Dover combined buying power of Dover Building central/matrixed procurement capability to leverage Dover scale

New Capabilities and a New Way of Working Together

Active collaboration

Building supporting infrastructure at corporate and segments

— Central procurement group

— Segment sourcing leadership

— China sourcing organization

Formed commodity teams with central leadership and representatives from businesses that will benefit the most Umbrella agreements negotiated centrally are used by local buyers Confident this will drive significant, lasting impact but it will take time

Multi-Year Procurement Program Prioritizes Efforts Based on ROI

Year of Example Addressable completion categories spend ($M)

2009 Telecom 30 Office supplies Annual 2010 Transportation ~1,000 recurring Plastics savings of Metals & Castings $75 — 100M Motors in 2011 2011 MRO & Travel ~500 Hydraulics Machined Parts

2012+ Bearings ~1,000 Chemicals Electronics

Transportation Example

Rationalizing supply base, becoming more relevant to those we keep Transportation a significant opportunity for Dover Transportation Vendors (#) Dover with >$250M of annual spend 1200 ~1,100

Wrapping up intensive analysis phase routes 800 — Analyzed database of >14k global

Negotiations with ~50 vendors underway 400 200

~50 Expect to achieve >10% savings on total 0 spend 2008 2009 RFQ 2010 plan Avg. spend per supplier $0.2 M $5.0 M ($M)

Dover Investor Day Agenda

Time Presenter Topic

1:00 — 1:05 Paul Goldberg Welcome and Introduction 1:05 — 1:35 Bob Livingston Dover Strategy — The Dover Way 1:35 — 1:45 Steve Sellhausen Disciplined M&A

1:45 — 1:55 Jim Moyle Global Procurement Initiative 1:55 — 2:55 Segment Presidents Segment Overviews Ray Hoglund (DES) Bill Spurgeon (DFM) Tom Giacomini (DIP) Dave Van Loan (DET)

Engineered Systems

Electronic Engineered Products Technologies Leading suppliers of: (18%) Commercial food service/ display equipment Fluid Refrigeration and cooling Management systems (22%) Food packaging equipment

Industrial Products Product Identification (28%) Worldwide suppliers of industrial marking and coding systems serving: Food and beverage Cosmetic Pharma Electronic & industrial

2009e Revenue 100% = $5.6-5.8B

Engineered Systems Demonstrated Relative Stability in 2009

Year over year revenue down 11% YTD and 1% in Q3 Improving revenue trends, steady margin — Sequential revenue up 11% in Q3 vs. Q2, driven by SWEP, Product ID, and Tyler — Margins have remained strong relative to 2008

Bookings are continuing to improve YoY Expect to follow normal seasonal market trends 2009 Update

Increasing emphasis on environmental sustainability Modest recovery in markets supported by GDP 2010 Planning Favorable trends in Supermarket remodels assumptions Proactive acquisition activity continues

Our Strategy: Help Our Customers Sell More Product, More Profitably and More Responsibly

Drivers and scope of DES strategy

— Businesses driven by food and consumer staples trends

— Engineered equipment companies with opportunity for growth and advantage

— Globalization based on risk/reward

Expanding attractive sub-sectors

— Product ID

— Hill PHOENIX, Unified Brands food equipment

Maximizing value of all portfolio companies

Strong Secular Trends Driving Growth

Consumer Staples

Food

Beverages

Household products

2003-08 GDP Rural development 2003-08 Population Growth Per Capita Growth 4.4% per year Energy U.S + U.S 0.9% per year Europe Sustainability Europe 3.6% per year China 0.6% per year Safety, traceability China 21% India 1.5% Income redistribution India 14% per year

More People Rising Living Standards Government Lift

Global population CAGR: ~1.2% Global GDP per capita Growth Multiple: + (70 million people/yr.) CAGR: ~7.5%

User Trends and Government Influence Create Opportunity for Faster Equipment Growth

Trends Government Influence

Energy Regs Rising Energy Cost (e.g., EPACT) Needed Customer Solutions More Sustainable Sustainability (Greenhouse Cap & Trade?)

Traceability User Needs Opportunity for “Help Me Compete” Rural region dev. Equipment Growth > Look Income re-distribution Taste Consumption Growth Speed Tax credits/fines Operating cost Initial cost Inv./Logistics Government drivers for growth and technology change

Product ID Group Achieving Global Scale While Maintaining Local Market Intimacy

Identified ways to better serve global customer base Geographic presence Global technology customized to local needs

Operating philosophy — provide scale and customer intimacy Common back-end: supply chain, R&D, Global Coverage shared services Broad, Complementary Offering Local front-end: customer interface, local product customization

Dover and customers now realizing the benefits More products, better service to customers Larger scale for Dover

Fluid Management

Electronic Energy Technologies Leading component and service (18%) supplier serving: Oil & gas production Fluid Gas compressors Management Turbine power generation (22%)

Norris Production Solutions Industrial Products (28%) Fluid Solutions Specialty fluid handling products Pumps and compressors Engineered Vehicle fueling components Hazardous fluid handling Systems components (32%) Quick disconnect couplings and fluid dispensers

2009e Revenue 100% = $5.6-5.8B

Fluid Management Maintained Margins Through Downturn

2008 backlog fueled strong 1Q 3Q improvement over 2Q low point Strong EBIT margin performance 2009 YTD — Price management and cost reductions Continued investment for future

Industrial Production/GDP improving — positive trends Energy markets slight improvement — Canadian rigs count up 2009 Update — Gas prices recently improved — cold winter?

Global macro economic conditions improving Uncertainties in Energy market 2010 Planning — NA average rig count expected to be up in 2010 assumptions — Oil prices average $70-75; Gas prices uncertain Fluid Solutions well positioned for global growth

Three Macro Trends Driving Demand for Fluid Management Technology

Growing energy Maturing fields, declining production rates demand Extractions in harsher environments Increasing challenges Work force demographics, need for remote monitoring to extract oil & gas

Sustainability “Zero harm” standards Leak prevention and containment Increasing regulation Increased efficiency and customer needs More active monitoring

Infrastructure BRIC development curves, rising standard of living Urbanization, increased infrastructure needs Globalization of e.g. retail fueling infrastructure spend e.g. waste water management systems

US Synthetic PDC Drill Bit Inserts Reduce Overall Drilling Costs

Gulf of Mexico 10,000 ft well Total rig cost US Synthetics sales / rig —Worldwide rig count (bar) indexed (line) Rock Bit PDC 5,000 3

Rate of penetration 40 ft / hr 70 ft / hr 4,000 +11% CAGR Bit life 1,500 ft 3,000 ft

Drilling 10,000 ft days . well for 13.0 7.5 2 Daily rig rate $100,000 $100,000 3,000

Total rig cost $1.30MM $0.75MM 2,000 1 +6% CAGR

75% faster drilling rate 1,000 2x longer bit life Ability to drill in harsher 0 0 environment ‘98 ‘00 ‘02 ‘04 ‘06 ‘08

From production to consumption, our solutions protect the environment while delivering quantifiable customer benefits

Wellhead Production Transmission Loading/Unloading Transport Retail Fueling

Remote monitoring Remote monitoring & Dry disconnect Safety valves, fittings Automated tank and artificial lift diagnostics solutions and vapor recovery gauging, spill automation Compliance testing & systems containment, vapor reporting recovery systems

Protect people & environment Remote monitoring/automation Productivity improvement Dry disconnect solutions Compliance & reporting Vapor recovery systems Application specific software

Pump Solutions Group is Well Positioned for Global Growth While Reaping Benefits of Integration

Broad portfolio of pump technologies with market leading brands

Attractive and diverse end-markets

7 Global Locations Global reach & scale — e.g. serving growing global infrastructure projects

Well-developed business integration process — Integration generated run-rate savings of ~$15M

Industrial Products

Electronic Technologies Material Handling (18%) Winches and gearboxes Fluid Construction attachments Management and components Industrial automation (22%) systems

Industrial Products (28%) Mobile Equipment Specialty transport Aerospace and military components Engineered Waste management Systems equipment (32%) Vehicle services

2009e Revenue 100% = $5.6-5.8B

Many Significant Actions Have Been Taken to Reduce Costs

Closed 23 facilities, 2 additional underway

Fixed Cost Reduced headcount by ~3,200 (30%+ of prior years total) Restructuring

Lowered breakeven by >20%

Leading Dover’s global procurement efforts in key Procurement categories — Metals — Transportation

Reduced inventory levels by ~$75M

Working Capital Maintained DSO level

Industrial Products Saw Significant Decline in End Markets

Demand declines across all served end markets Sequential revenue and margin improvements in Q3 vs. Q2 — Revenue up 3% 2009 YTD — EBIT margin up 2% Restructuring initiatives have helped to protect margins —YTD drop through $22M

Margins continue to improve over first half of year Continued focus on cash generation 2009 Update Order levels stabilizing, but not expecting quick recovery

Full year of restructuring benefits realized Mild recovery in auto end-markets 2010 Planning Mixed view on transportation — some strength in aerospace assumptions and government Continued challenges in N.A. construction

Different Strategic Priorities Across Our Industrial Products Businesses

Market sector OpCos

Tulsa Winch Industrial winches, hoists and gearboxes Grow Warn Industrial automation components DeStaCo proactively Heil Environmental Solid waste/recycling Marathon

Sargent Aerospace/defense Manage for Vehicle Service Group cash / Vehicle services equipment PDQ opportunistic Heil Trailer Bulk transport/tanker bodies growth PMI Motorsport components/ accessories Warn

Improve Construction equipment Paladin Crenlo Texas Hydraulic

Well Positioned to Grow in Industrial Winches, Hoists and Gearboxes

Large market (~$2.5B), fragmented players

Attractive end markets with tailwinds — Onshore/Offshore oil & gas — Alternative energy — Government

Proprietary products within a comprehensive portfolio

Product certification and industry standards are critical

Attractive gross margins

Opportunities identified for international expansion

Leveraging a Global Footprint in Industrial Automation Components

Diverse, global market ($3B+)

Favorable tailwinds from increased consumer consumption, food/medical safety, and workplace safety

Strong DeStaCo brand with a global footprint

Attractive gross margins

Recurring revenue streams

Interested in components that “touch the production part”

Building on a Strong Position to Grow in Attractive Solid Waste and Recycling Sector

Increased waste levels from secular global consumption trends — Growth rates higher in specific geographies (e.g. CEE)

Favorable recycling equipment tailwinds (10%+ CAGR) — Increased automation

Worldwide Municipal Solid Waste Emerging technology opportunities (M tonnes/yr) Waste- — to-Energy 2,000 — Green Technology / Telemetrics 1,600 4+% High engineering value-add in select sub 1,200 segments

800 2008 2013 2018 Leading position for Dover Source: OECD, United Nations, IMF

Electronic Technologies

Electronic Communication Components Technologies High-end sound and high-(18%) frequency signal initiation, transmission, reception and Fluid conversion components Management Microphones and receivers (22%) Filters, oscillators, switches

Industrial Products (28%) Electronic Assembly and Test Assembly, repair, and test equipment for semiconductors and electronic circuit boards Engineered Testers and fixtures Systems (32%) Material deposition Precision soldering

2009e Revenue 100% = $5.6-5.8B

Electronic Technologies Performance Update

Improving revenue and margin trends

— Sequential revenue up 12% in Q3 vs. Q2, driven by 2009 YTD Knowles, and the Tech Group — Sequential margins have improved by 580 bps

Bookings are forecasted to improve YoY Positive indicators of a Tech market recovery 2009 Update

Customers overreacted to the downturn and didn’t keep up with capacity or technology purchases Handset sales expected to return to historical growth rates — 2010 Planning pent up demand assumptions Windows 7 spike in PC sales Shrinking defense spending

Our Strategy: Attractive Through-Cycle Growth and More Consistent Earnings

Reshaping the portfolio — Streamlined portfolio to technology and share leaders — Integrating companies to create advantaged global positions

Improving ‘Flexibility’ and reducing cost base — Moved manufacturing to Asia — Lowered breakeven in many businesses by up to 50% — Maintained ability to rapidly scale up in market up cycles

Growing our recurring revenues — 23% of DET revenue from capital equipment

Expanding the core — Apply existing technology to adjacent markets — Diversify end markets — reduce links to semiconductor cycle — Position in front of growth tailwinds (e.g. renewable energy, sensors)

Integrated DET Businesses and Established Global Operating Model

11 companies we have owned since 2000 are now integrated into 5 businesses — Created global footprint and scale — Leveraging benefits of common ownership

Established centers of excellence — Manufacturing — Back office — Sourcing

Maintained local customer intimacy & brands Shenzhen Facility —consolidates 7 sites into 1 Established financially efficient structure

Leveraging Technology Leadership for Growth Across DET

Current New applications applications

Leveraging current Material deposition leading technology equipment positions Electronics Solar panels

Attractive applications in adjacent markets

Testing handling equipment for Driving end market MEMs diversification and Semiconductors MEMs growth

Surface acoustic wave (SAW) sensors Oscillators Viscosity sensors

Dover Investor Day Agenda

Time Presenter Topic

1:00 — 1:05 Paul Goldberg Welcome and Introduction 1:05 — 1:35 Bob Livingston Dover Strategy — The Dover Way 1:35 — 1:45 Steve Sellhausen Disciplined M&A

1:45 — 1:55 Jim Moyle Global Procurement Initiative 1:55 — 2:55 Segment Presidents Segment Overviews

Ray Hoglund (DES) Bill Spurgeon (DFM) Tom Giacomini (DIP) Dave Van Loan (DET)

2:55 — 3:10 Brad Cerepak Dover Financial Goals and Metrics

3:10 — 3:15 Bob Livingston Summary and Conclusion 3:15 — 3:45 Bob Livingston Q&A 3:45 — 4:00 Refreshment Break 4:00 — 5:00 Segment Presidents Segment Q&A Breakouts 5:00 Dover Reception

2009 .... A Challenging Year

Significant end market demand declines in core markets Select businesses have shown more resilience (e.g. Knowles, Hill PHOENIX) Continuing Earnings Per Share ($) Took decisive actions to protect and strengthen our 1.20 business 1.01 0.98 Restructured our businesses 0.91 0.90 — Took out $125M of annual cost 0.77 — Closed 27 facilities; reduced headcount 20% Focused on operational efficiency and cash generation 0.58 0.60 0.54 — Scaled up global procurement efforts — Maintained working capital 20% of sales 0.33 0.30 Demonstrated relative strength through the year Maintained double-digit margins 0.00 Increased dividend while maintaining strong balance sheet Q1 Q2 Q3 Q4 Q1 Q2 Q3

Well positioned for growth as economy recovers 2008 2009 Reduced restructuring charges (down $70M from 2009) $35M — $40M of carryover year-over-year savings Continued to invest in organic growth

Mid Q4 Update

Key messages from last earnings call Stability across portfolio Normal seasonal revenue decline (e.g. refrigeration) 4th quarter revenue decrease $80-90M sequentially Anticipate full-year EPS around mid-point of $1.75-$2.00 range

What’s changed Electronic assembly and energy businesses stronger than originally anticipated

We are confident full-year EPS will be slightly above the mid-point of previously provided guidance of $1.75 to $2.00

2010 ... A Framework For Earnings Growth

Long Term Goal 2010 Initial Thoughts

Sales growth 7% — 10% TBD Organic (%) 4% — 5% 3% — 5% Acquisition (%) 3% — 5% TBD

Segment EBIT margin (%) >15% Up 200 — 225 bps from 2009 Earnings growth (%) 10% — 13% > Long-term goal Free cash flow / Sales (%) >10% 10% Interest expense — Up slightly from 2009 Corporate expense — Up ~$10M from 2009 CapEx — Up slightly from 2009 Tax rate - 29% — 30%

Total Shareholder Return Captures Contribution From Both Growth in Value and Free Cash Flow

We have set a corporate objective of sustained top-quartile TSR vs. our peers

We have adjusted internal processes and Dividends controls to align all levels of management Capital gains paid (dividend The TSR contribution of individual business (stock price Ä) yield) units is explicitly measured Strategic plans are shared and discussed in context of drivers of TSR Portfolio shaping criteria include impact on TSR

We have tied significant long-term TSR incentives to TSR and its drivers

Balanced Capital Allocation With Focus on Value Creation

Estimated cumulative cash flow (3-years ending December 2009, $B)

Cash flow from operations after interest, taxes $2.6 Capital expenditures (0.5) Discretionary cash 2.1 Change in net debt 0.1 Total $2.2

Committed to maintaining investment grade credit rating (debt/cap ~35%)

Fully funded internal operations and organic growth initiatives

Continue long and consistent dividend policy — 25-30% of through cycle earnings

Acquisitions compete with share repurchases — Current environment weighted towards acquisitions

Dover Investor Day Agenda

Time Presenter Topic

1:00 — 1:05 Paul Goldberg Welcome and Introduction 1:05 — 1:35 Bob Livingston Dover Strategy — The Dover Way 1:35 — 1:45 Steve Sellhausen Disciplined M&A

1:45 — 1:55 Jim Moyle Global Procurement Initiative 1:55 — 2:55 Segment Presidents Segment Overviews

Ray Hoglund (DES) Bill Spurgeon (DFM) Tom Giacomini (DIP) Dave Van Loan (DET)

2:55 — 3:10 Brad Cerepak Dover Financial Goals and Metrics

3:10 — 3:15 Bob Livingston Summary and Conclusion 3:15 — 3:45 Bob Livingston Q&A 3:45 — 4:00 Refreshment Break 4:00 — 5:00 Segment Presidents Segment Q&A Breakouts 5:00 Dover Reception