Colfax A Winning Model

INVESTOR UPDATE JUNE 2018 June 2018

Important Statements These slides and accompanying oral presentation contain forward-looking statements, including forward-looking statements within the meaning of the U.S. Private Securities Litigation Reform Act of 1995. Such forward-looking statements include, but are not limited to, statements concerning Colfax's plans, objectives, expectations and intentions and other statements that are not historical or current fact. Forward-looking statements are based on Colfax's current expectations and involve risks and uncertainties that could cause actual results to differ materially from those expressed or implied in such forward-looking statements. Factors that could cause Colfax's results to differ materially from current expectations include, but are not limited to factors detailed in Colfax's reports filed with the U.S. Securities and Exchange Commission including its 2017 Annual Report on Form 10-K and Quarterly Report on Form 10-Q for the period ended March 30, 2018 under the caption "Risk Factors." In addition, these statements are based on a number of assumptions that are subject to change. These slides speak only as of this date. Colfax disclaims any duty to update the information herein. The term "Colfax" in reference to the activities described in these slides may mean one or more of Colfax's global operating subsidiaries and/or their internal business divisions and does not necessarily indicate activities engaged in by Colfax Corporation. Colfax has provided in this presentation financial information that has not been prepared in accordance with GAAP. These non-gaap financial measures are adjusted net income, adjusted net income per share, projected adjusted net income per share, adjusted operating income, organic sales growth (decline), and organic order growth (decline). Adjusted net income, adjusted net income per share, projected adjusted net income per share, and adjusted operating income exclude Restructuring and other related items, Goodwill and intangible asset impairment charges, Pension settlement loss, and Loss on deconsolidation of Venezuelan operations, to the extent they impact the periods presented. Adjusted net income, adjusted net income per share and projected adjusted net income per share exclude the impact of acquisition-related amortization and gain or loss on short term investments, to the extent they impact the periods presented. The effective tax rate used to calculate adjusted net income and adjusted net income per share is 25.7% for the year ended December 31, 2017. Organic sales growth (decline) and organic order growth (decline) exclude the impact of acquisitions and foreign exchange rate fluctuations. These non-gaap financial measures assist Colfax management in comparing its operating performance over time because certain items may obscure underlying business trends and make comparisons of long-term performance difficult, as they are of a nature and/or size that occur with inconsistent frequency or relate to discrete restructuring plans that are fundamentally different from the ongoing productivity improvements of the Company. Colfax management also believes that presenting these measures allows investors to view its performance using the same measures that the Company uses in evaluating its financial and business performance and trends. Sales and order information by end market are estimates. We periodically update our customer groupings order to refine these estimates. 2

Colfax A Winning Model Acquire Good Companies Focus and Empower Top Talent Use CBS to Make Them Great Attractive markets Strong brands and solutions Opportunities to improve and expand Independent businesses Great leaders, strong teams, winning spirit Lean, high value corporate Values Tools & processes Way of working We use CBS to make good businesses great 3

A Strong Foundation Values Driven Business System COLFAX BUSINESS SYSTEM (CBS): VALUES + TOOLS + WAY OF WORKING 1.6 SAFETY (Total Recordable Incident Rate) 1.4 1.2 1.0 0.8 0.6 2014 2015 2016 2017 2012-2014 Broad deployment 2015-2017 2018 and beyond Focus for impact Scale impact 95% ON TIME DELIVERY (Filler Metal OTD %) Training, # of kaizen Operations & innovation Mfg. Excellence KPI s + Growth tools Journeys to leadership + Leverage digital 90% 85% 80% 2014 2015 2016 2017 4 Source: Internal company reporting and analysis.

Continuous Improvement Is Our Way of Life ESAB Peru Soldex S.A. Market leader acquired in 2012 2013-2015 Introduction to CBS CBS Roadmap & core CBS tools Internal training and quick, practical events Kaizens focused on main KPI s Visual management 2016-17 Strong visual Daily Management Kaizen roadmap to set breakthrough SQDC performance High associate engagement 4 3 2 1 0 98% 96% 94% 92% 90% 88% 86% 84% SAFETY (TRIR) -74% 2013 2017 DELIVERY(On Time Delivery) 800 bps 2013 2017 QUALITY (FM PPM) 200 150-72% 100 50 0 2013 2017 COST (Inventory Turns) 20 15 10 11x 5 0 2013 2017 Continuous improvement culture changing the game 5 Source: Internal company reporting and analysis.

Global Presence in Growing Economies COLFAX REVENUE BY REGION (2017 FY) Developed Countries Emerging Markets Benefitting from global demographic trends Urbanization Development of global middle class GDP GROWTH ESTIMATE 6% Emerging Markets Delivering results through strong, local teams Shifting investment to growing regions 4% 2% Developed Countries 2.7x 0% 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 Positioned to win in emerging markets that are 60% of global investment 6 Source: Internal company reporting; international Monetary Fund WOE, 2016

FabTech Delivering Growth & Margin Improvement Accelerating organic growth Strengthening our core through CBS and talent development Building on our global leadership position in filler metal Accelerating pace of innovation in equipment Driving connectivity & automation 10.0% Sales Organic Growth -5.8% -5.1% 3.3% Fabrication Technology 6.4% 2015 2016 2017 Q1 18 Adj. Operating Margin Improvement 10.9% 11.6% 12.0% Completed restructuring actions contributing to higher margins Fabrication Technology 2015 2016 2017 Q1 18 7 Refer to Appendix for Non-GAAP reconciliation and footnotes.

Air & Gas Handling Ready to Grow Successful strategic shift demonstrated by growth in General Industrial applications Oil & Gas funnels continue to support a fundamentally improving market Power markets stabilized Margins on new orders improving 2018 restructuring actions progressing well and on target to deliver $20-25M of benefits 200 150 100 50 0 200 150 100 50 0 200 150 100 50 0 General Industrial orders Q1 16 Q2 Q3 Q4 Q1 17 Q2 Q3 Q4 Q1 18 Oil & Gas orders Q1 16 Q2 Q3 Q4 Q1 17 Q2 Q3 Q4 Q1 18 Power Generation orders China NB pause STE acquisition Q1 16 Q2 Q3 Q4 Q1 17 Q2 Q3 Q4 Q1 18 8

Coal Fired Power Generation Coal-fired Installed Base (GW s of generating capacity) 3000 2500 2000 1500 1000 500 0 2010 2020 2030 2040 New Policies Source: World Energy Outlook 2017, IEA Current Policies North America 350 250 150 50 2015 2020 2025 2030 2035 2040 350 Europe 250 150 50 2015 2020 2025 2030 2035 2040 1300 China 1100 900 700 500 2015 2020 2025 2030 2035 2040 600 India 400 200 0 2015 2020 2025 2030 2035 2040 200 Southeast Asia 150 100 50 0 2015 2020 2025 2030 2035 2040 1% CAGR growth estimate for the coal-fired installed base under New Policies scenario -3.4% Regional dynamics vary greatly Continued growth expected in Asian markets Developed markets expected to remain in secular decline Revenue opportunity as smaller, older plants are replaced with high efficiency technology 9

Shaping the Colfax Portfolio for the Future COLFAX 2012 New Platforms $3.3B COLFAX 2017 Power Oil & Gas Acquisitions Marine & Mining General Industrial Aftermarket 75% Industrial and Aftermarket <$1B Colfax 2011 Colfax 2017 Colfax Future CFH Air&Gas FabTech New Platforms Charter Acquisition 2012 21 Bolt-on acquisitions Industrial & aftermarket organic growth FH divestiture Higher margins Higher vitality Lower cyclicality Less volatility 10 Source: Internal company reporting

2018/19 2012 Building a Wastewater Leadership Position WASTEWATER AERATION ~$400M global market Projected 4% CAGR, 6-8% in emerging markets Driven by population growth, urbanization, and environmental regulations Competition defined by efficiency, reliability, and support Existing Howden turboblower technology could serve <10% of market opportunity Establishing position in China Roots acquisition expanded addressable range to ~50% STE acquisition extends addressable applications to ~75% Organic product development to push toward full coverage of customer needs Using acquisitions to accelerate and strengthen organic growth initiatives 11

Acquisitions Accelerating Growth Initiatives Digital Growth Siemens Turbo Equipment Sandvik Welding Consumables Industrial Diversification Automation Solutions Emerging Markets Aftermarket Specialty Filler Metal Strategic acquisitions enhancing core business 12

Accelerating Innovation NEW PRODUCT DEVELOPMENT CBS tools: VOC, QFD, APD R&D Open innovation DIGITAL GROWTH Productivity & uptime Process optimization Partnerships ACQUISITIONS Simsmart, Ventsim HKS, TBi, AMI SmartMIG Arc Technology Largest Recip Compressor Highest Power/Weight Ratio Welding Productivity Mining Productivity Enabled Equipment Visualization & Control Optimized Solutions Universal Connector Leveraging leadership positions in markets where technology matters 13

New Product Acceleration at ESAB 12 10 8 6 4 2 0 FABTECH NEW PRODUCT LAUNCHES (Number of major model or platform launches) 2014 2015 2016 2017 Step function increase in pace of new product introductions Changing the game with new platforms New performance benchmarks for next gen products Leading welding process technologies Strengthening the brand reputation as an innovator Increasing value to our channel partners 14

Annual Revenue Digital Technology Development Industry standard for design & visualization Ventilation as a Service model Adjacent complex ventilation systems >$40M annual opportunity in complex ventilation system optimization Innovative system optimization tool Complementary acquisitions Global leader in mining fans VOC & integration Smart Fan IoT enabled & microcontroller 2015 2016 2017 2018 Using digital technologies to create differentiation and expand market 15

Ramping Up New Platform Efforts Goals: Enhance growth profile Balance end-market exposure Shift margin structure Provide innovation headroom Lengthen bolt-on runway Key elements of process: Top-down / bottom-up approach Rigorous market diligence Portfolio of opportunities Disciplined evaluation Significant executive attention Making Colfax better not just bigger 16

Growing Investment Firepower LEVERAGE * Finished 2017 at 1.5X net pro forma leverage for remaining FH divestiture liquidity $1.3B revolver undrawn at year end Cash generation expected to grow as business pivots to growth Opportunities remain to improve working capital performance Long-term strategic goal of achieving investment grade status Recent $100M share repurchase authorization Over $1B of expected firepower to support strategic growth programs in 2018 17 Source: Company filings and management analysis * Leverage calculated in accordance with the total leverage ratio definition specified in the credit agreement with Deutsche Bank AG New York Branch.

Colfax Strategy Strengthen the foundation Deeper, empowered talent accelerating performance Colfax Business System culture & impact Fixed and variable productivity journeys 3-4 Year Objectives Mid-teen segment margins Pivot to growth Focus on growth segments Drive new products & innovation Emerging Markets expansion GDP +1-2% organic growth Innovate and acquire Expand innovation and DDA (digital growth) pipeline Acquisitions to strengthen & extend platforms New platforms broaden, diversify portfolio Innovate and acquire to compound returns 18

2018 Direction & Outlook ADJUSTED EARNINGS PER SHARE $1.74 18%+ 2017 Improvement & Growth $2.05- $2.20 2018 Guidance Initial 2018 guidance of $2.00-$2.15 increased in May to $2.05-$2.20. Accelerating growth and profitability in FabTech Using CBS to drive productivity and further improve customer service Increasing pace of new products Making the turn in A&GH Restructuring to protect profitability and invest in growth markets Positioning for orders recovery in second half Acquiring and integrating great businesses Driving impact from 2017 acquisitions Continuing to pursue accretive, strategic bolt-ons Increasing focus on new growth platforms 19

Supplementary Information

Colfax Overview $3.3 BILLION 2017 REVENUES DIVERSIFIED END MARKETS Power Oil & Gas Marine & Mining Aftermarket Air & Gas Handling General Industrial GLOBAL PRESENCE Fabrication Technology Developed Countries Emerging Markets Two platforms providing branded, differentiated industrial products 21 Source: Company filings, management estimates

Market Orders Outlook Current Environment Order Indicators Aftermarket Remains sluggish as customers minimize expenses Lower power utilization rates in the US and China Increasing oil prices Maintenance deferments already in comps Installed base growth General Industrial Almost all regions back to growth for welding Environmental spend continues in China Stable to up global PMI GDP forecast uptick in 18 Internal growth initiatives continue Oil & Gas Slow recent project progression Number of projects stable to increasing but long gestation Stable to increasing oil prices Refinery utilization Refined products demand (2H) Power Policy changes in China slows new build Steady pace in SEA New regulations in India Projects reduced in China Utilization remains low in the US and China Improving outlook with expected second half uptick in A&G Handling 22 Source: Internal company management estimates.

Fabrication Technology LEADING GLOBAL MANUFACTURER OF WELDING & CUTTING PRODUCTS; TECHNOLOGY & INNOVATION LEADER KEY STRATEGIES/FOCUS Create competitive advantage through operational excellence WELDING & CUTTING CONSUMABLES Simplify / streamline processes Leverage position in faster growing emerging markets CUTTING EQUIPMENT WELDING EQUIPMENT Provide productivity solutions for targeted customer segments Rejuvenate/strengthen equipment product line GAS APPARATUS WELDING & CUTTING AUTOMATION PERSONAL PROTECTIVE EQUIP. Source: Company filings 23

FabTech: Leading Brands and Technologies Market Size: ~$22 Billion Long-Term Market Growth: ~3-4% Market Drivers Shortage of skilled welders driving need for easier-to-use equipment and automation Continued growth in application complexity: thinner metals, alloys, etc. Increasing customer demands for efficiency and productivity Building the world s energy, trade, and urban infrastructure ESAB HIGHLIGHTS #1 in Europe #1 in South America #1 in SEA and India #1 in Russia #3 in North America but strengthened by Victor FABRICATION TECHNOLOGY PLAYERS (% of Served Market) Other Lincoln ITW ESAB Kobelco Golden Bridge Bridge Bohler Large market, increasing pace of technology, good fundamentals 24 Source: Internal company reporting and management estimates.

Air & Gas Handling LEADING GLOBAL MANUFACTURER OF HEAVY-DUTY FANS AND COMPRESSORS FOR USE IN DEMANDING APPLICATIONS KEY STRATEGIES/FOCUS Expand addressable market Increase aftermarket and services capture Exploit environmental opportunities Combine IoT technology with leading equipment solutions Simplify business structure INDUSTRIAL FANS CONTROL & CONNECTIVITY BLOWERS GAS COMPRESSORS HEAVY-DUTY FANS ROTARY HEAT EXCHANGERS Source: Company filings 25

A&GH: Leading Brands and Technologies Market Size: ~$12 Billion Long-Term Market Growth: ~3-5% Market Drivers Increasing end-user focus on energy efficiency Environmental regulations and performance upgrades driving retrofits AIR & GAS HANDLING HIGHLIGHTS #1 in Heavy Fans #1 in Rotary Heat Exchangers #1 in Industrial Fans #1 in Niche compressor applications #1 in Mine Ventilation AIR & GAS HANDLING PLAYERS (% of Served Market) Continued infrastructure investment in emerging markets Other Colfax Siemens GE Kobelco Twin Cities Global leader in served market; significant room for growth 26 Source: Internal company reporting and management estimates.

Recent acquisitions HKS VentSim Real time, in-process detection of weld defects Market leading software tool to design and simulate underground mine ventilation systems 27

Recent acquisitions STE/HTO EWAC Alloys Sandvik Welding Environmental Compression EC Industrial Compression IC Steam Turbine One of the leading innovators in the international turbomachinery business Leading Indian provider of hardfacing (repair and maintenance) products and services Specialty filler metal business focusing on niche applications primarily within Energy, Petrochemical and Transportation 28

APPENDIX

Non-GAAP Reconciliation (unaudited) Fabrication Technology Segment Sales 2015 2016 2017 $ % $ % $ % For the years ended December 31, 2014, 2015 and 2016, respectively 2,294.9 1,985.2 1,800.5 Components of change: Existing businesses (1) (134.2) -5.8% (102.1) -5.1% 59.0 3.3% Acquisitions (2) 123.3 5.4% 1.3 0.1% 48.1 2.7% Foreign currency translation (298.7) -13.1% (83.9) -4.3% 29.7 1.6% For the years ended December 31, 2015, 2016, and 2017, respectively 1,985.2 1,800.5 1,937.3 2018 $ % For the three months ended March 31, 2017 460.0 Components of change: Existing businesses (1) 29.6 6.4% Acquisitions (2) 22.7 4.9% Foreign currency translation 20.9 4.6% For the three months ended March 30, 2018 533.2 (1) Excludes the impact of foreign exchange rate fluctuations and acquisitions, thus providing a measure of growth due to factors such as price, product mix and volume. (2) Represents the incremental sales for acquisitions completed in our Fabrication Technology segment. Note: $ in millions. 30

Non-GAAP Reconciliation (unaudited) Three Months Ended March 30, 2018 Year Ended December 31, 2017 Air and Gas Handling Fabrication Technology Corporate and Other Total Colfax Corporation Air and Gas Handling Fabrication Technology Corporate and Other Total Colfax Corporation Net sales $ 347,652 $ 533,273 $ $ 880,925 $ 1,362,902 $ 1,937,282 $ $ 3,300,184 Operating income 17,884 5.1% 61,724 11.6% (17,436) 62,172 7.1% (78,689) (5.8 % ) 208,205 10.7% (100,365) 29,151 0.9% Restructuring and other related charges 5,498 2,414 17 7,929 52,194 16,157 68,351 Goodwill and intangible asset impairment charge 152,700 152,700 Pension settlement loss 46,933 46,933 Loss on deconsolidation of Venezuelan operations Adjusted operating income (loss) $ 23,382 6.7% $ 64,138 12.0% $ (17,419) $ 79,101 8.0% $ 126,205 9.3% $ 224,362 11.6% $ (53,432) $ 297,135 9.0% Year Ended December 31, 2016 Year Ended December 31, 2015 Air and Gas Handling Fabrication Technology Corporate and Other Total Colfax Corporation Air and Gas Handling Fabrication Technology Corporate and Other Total Colfax Corporation Net sales 1,385,261 1,800,492 3,185,753 Operating income 123,322 8.9% 163,509 9.1% (50,031) 236,800 7.4% Restructuring and other related charges 26,808 31,688 58,496 Goodwill and intangible asset impairment charge 238 238 Pension settlement loss 48 48 $ 1,449,115 $ 1,985,237 $ $ 3,434,352 143,849 9.9% 168,688 8.5% (46,917) 265,620 7.7% 27,172 29,649 56,822 1,486 1,486 (582) (582) Loss on deconsolidation of Venezuelan operations 495 495 Adjusted operating income (loss) $ 150,130 10.8% $ 195,435 10.9% $ (49,488) $ 296,077 9.3% $ 171,022 11.8% $ 199,823 10.0% $ (47,499) $ 323,346 9.4% 31 Note: Dollars in thousands.

Non-GAAP Reconciliation (unaudited) Year Ended December 31, 2017 Adjusted Net Income and Adjusted Net Income Per Share Net loss from continuing operations attributable to Colfax Corporation (1) $ (72,957 ) Restructuring and other related charges- pretax 68,351 Goodwill and intangible asset impairment charge pretax 152,700 Pension settlement loss pretax 46,933 Acquisition-related amortization- pretax 60,091 Tax adjustment (2) (38,789 ) Adjusted net income from continuing operations $ 216,329 Adjusted net income per share continuing operations $ 1.74 Net loss per share- diluted from continuing operations (GAAP) $ (0.59 ) (1) Net loss from continuing operations attributable to Colfax Corporation calculated using net loss from continuing operations less the income attributable to noncontrolling interest, net of taxes. (2) The effective tax rate used to calculate adjusted net income and adjusted net income per share is 25.7% for the year ended December 31, 2017. Note: In thousands, except per share amounts. 32

Non-GAAP Reconciliation (unaudited) Updated Guidance Previous Guidance Low High Low High 2018 Earnings Per Share Projected net income per share from continuing operations (GAAP)- diluted $ 1.22 $ 1.37 $ 1.36 $ 1.51 Restructuring and other related charges- pretax 0.31 0.31 0.28 0.28 Acquisition-related amortization and other non-cash charges- pretax (1) 0.60 0.60 0.56 0.56 Loss on short term investments- pretax 0.12 0.12 Tax adjustment (2) (0.20) (0.20) (0.20) (0.20) Projected adjusted net income per share $ 2.05 $ 2.20 $ 2.00 $ 2.15 (1) Includes amortization of acquired intangibles and fair value charges on acquired inventory. (2) The estimated effective tax rate for adjusted net income and adjusted net income per share for the year ended December 31, 2018 is 23-24%. 33