© Howden Group 2013

Howden Overview

© Howden Group 20132

GAS & FLUID HANDLING

Source: Company filings

POSITIVE DISPLACEMENT

PUMPS

SPECIALTYCENTRIFUGAL

PUMPS

LUBRICATION SERVICES

ROTARY HEAT EXCHANGERS

GAS COMPRESSORS

HEAVY-DUTYFANS

KEY STRATEGIES/FOCUS

• Exploit environmental opportunities

• Grow in oil & gas market

• Increase aftermarket and services capture

LEADING GLOBAL MANUFACTURER OF HEAVY-DUTY FANS, COMPRESSORS AND FLUID HANDLING SOLUTIONS FOR USE IN DEMANDING APPLICATIONS

© Howden Group 20133

FABRICATION TECHNOLOGY

Source: Company filings

WELDING & CUTTINGCONSUMABLES

WELDINGEQUIPMENT

WELDING & CUTTINGAUTOMATION

PERSONAL PROTECTIVE

EQUIP.

CUTTINGEQUIPMENT

GASAPPARATUS

KEY STRATEGIES/FOCUS

• Build customer responsiveness

• Aggressively improve operations

• Strengthen organizational structure and talent

• Drive differentiated product/ application development

#2 GLOBAL MANUFACTURER OF WELDING & CUTTING PRODUCTS; TECHNOLOGY &INNOVATION LEADER

© Howden Group 2013 4

• Fans, heat exchangers and compressors

• Sales in 2012 – $1,255m• Employees in 2012 – 4400

Howden is a subsidiary of Colfax Corporation, as are ESAB and Colfax Fluid Handling.

Company OverviewCompany relationships

• Precision pumps and systems

• Sales in 2012 – $646m• Employees in 2012 – 2200

• Welding and cutting equipment

• Sales in 2012 – $2,000m• Employees in 2012 – 6900

Colfax Fluid Handling ESAB Howden

© Howden Group 2013

Strategic Vision

5

To be the world’s leading Number one in the segments we choose to operate in

application engineer Where our knowledge of product and process makes a difference

providing lifetime solutions From project inception to plant decommissioning

in air and gas handlingPerformance critical products which move, treat, clean, heat or cool gases incl. air

© Howden Group 2013© Howden Group 2013

Howden History

6

© Howden Group 2013

The commercialisation of screw compressors in the 1940s and development of oil injected screw compressors.

Development of the forced draught system for boilers (1882), dramatically reducing fuel consumption.

Development of the rotary regenerative air preheater in conjunction with Frederik Ljungström of Sweden in the 1920s.

•Invention of the ‘Sirocco’ fan with forward curved blades.

•Invention of the diaphragm compressor by H Corblin.

•The development of the aerofoil bladed centrifugal fan.

Other technical firsts

HistoryTechnical pedigree

7

© Howden Group 2013

HistoryAcquisition timeline – The growth of the Howden organisation

8

Airscrew

Turbowerke Meissen (TMH) (1898)

KWCA / Howden Ventiladores

Burton (1884)

Corblin Aeolus (Brazil)

Thomassen Compression Systems

JAMES HOWDEN

Carter Stork

Canadian Blower

Ventilateurs Neu

American Blower

Berry

Westinghouse

Davidson ‘Sirocco’ (1898)

Sturtevant (1860)

Buffalo Forge (1878)

Voith Novenco

Aerex

Engart

Sheldon

Nordisk Ventilator ‘Variax’ (1947)

Joy Green (New Philadephia)

(1904)

Bryan Donkin (1803)

AustCold Covent Fans

1854 1971 1974 1988 1991 1993 1995 1997 2008 2010 2011 2012

© Howden Group 2013 9

Howden

Heavy Fans & Heaters

Power, Mining, Steel

Segment marketing & Key Account Management

(KAM)

Howden Denmar

kHowden Ventilatoren

Howden UK

HowdenNetherlands

L&T Howden

Howden Nort

h America

Howden

Hua

Howden India

Howden Australia

Howden South America

Howden Spain

Compressors

Oil and Gas

Segment marketing &

KAMHowden

BC Compress

ors and other subsidiari

es

Howden

Thomassen and

subsidiaries

Howden Compressors Howden Process Compressors

AustCold

Russia / Middle East Sales Offices

Industrial Fans

Other Processes

Segment marketing &

KAM

Howden Covent

Howden

FranceHowden Turbower

ke

Africa

Region

Segment marketing &

KAM

Howden Power

Howden Fan EquipmentHowden

ProjectsHowden Donkin

Our companies are organised into one regional and three global divisions with a strong segment focus.

OrganisationOrganisational Structure

Product Company Regional CompanyJoint venture with L&T in

IndiaMap key

© Howden Group 2013

OrganisationLeadership Team

10

Sam Strahan

Programme Director

Ian BranderCEO

James Brown

Financial Director

Donna Malone

HR Director

Ken Ramsay

Marketing Director

Thomas Bärwald

Exec DirectorHowden Africa

Elias ZabanehExec DirectorHeavy Fans & Heaters

Greg Duffy

Head of Risk Management

JimFairbairn

Exec DirectorCompressors

John

McKnight

Exec DirectorIndustrial Fans

John

McKnight

Exec DirectorIndustrial Fans

Rosie Garrigan

Chief LegalCounsel

© Howden Group 2013 11

We employ 4400 people in 23 countries throughout the world.

OrganisationGlobal Presence

Australia – Brazil – Canada – Chile – China – Denmark – Dubai – France – Germany – India – Mexico – Netherlands – Russia - Singapore – South Africa – South Korea – Spain – Taiwan – Thailand – United Kingdom – USA – Venezuela – Vietnam

© Howden Group 2013 12

Santiago

Our global footprint covers our major markets and potential markets.

OrganisationGlobal Locations

BelfastKingswinford

Næstved

Hengelo

Heidenheim

Weihai

Beijing

Sydney

Paris/NogentCoswig

Chesterfield

BuffaloNew Philadelphia

Columbia

Mexico City

Sao PaoloJohannesburg

Port Elizabeth

Taipei

Canton

Warsaw

Cartagena

ShanghaiWuhan

Xi’an

Guangzhou

Hong Kong

Glasgow/Renfrew

Raleigh

Moscow

DelhiChengdu

Bangkok

Melbourne

Lille

Monterrey Dubai

Sales office

Birkerød

Rheden

Oran

SasolburgRio de Janeiro

Caracas

SeoulPlymouth Meeting

Singapore

Pune

Tokyo

Montreal

Site with no manufacturing Site with manufacturingMap key

© Howden Group 2013

High integrity fans, heat exchangers and compressors for key industries which demand the highest levels of efficiency, reliability and availability.

Products and ServicesProducts

Centrifugal fan Axial fan Rotary heat exchanger

Compressor Cooling fan Special and local products

13

© Howden Group 2013 14

Over the years Howden has acquired many well known technologies, companies and/or brands in the air and gas handling field.

Products and ServicesAcquisitions

Brand/Company Main country

Aerodyne Fans AustraliaFantecnic Fans AustraliaPitstock Fans AustraliaPhoenix Fans AustraliaPowermax Fans AustraliaWolf Fans AustraliaWheeler Fans AustraliaAeolus BrazilCanadian Blower CanadaSheldon Fans CanadaCovent Fans CanadaNordisk Fans DenmarkVariax Fans DenmarkBerry Fans FranceBurton Corblin Compressors FrancePeriflow® Compressors FranceSofrair Blowers FranceVentilateurs Neu FranceTurbowerke Meissen GermanyVoith Fans GermanyAirtech Fans South AfricaDonkin Fans South AfricaMajax Fans South Africa

Brand/Company Main country

Safanco Fans South AfricaTallares Sanchez Luengo (TSL) SpainStork Fans The NetherlandsVentilatoren Sirocco Howden The NetherlandsThomassen Compressors The NetherlandsAerex Fans United KingdomAirscrew United KingdomCarter Fans United KingdomDavidson Fans United KingdomDonkin Blowers United KingdomEngart Fans United KingdomGodfrey Blowers United KingdomHowden Sirocco Fans & Heaters United KingdomJames Howden United KingdomReavell Centrifugal United KingdomSirocco United KingdomWaller United KingdomAmerican Blower USABuffalo Forge USAJoy Green Fans USASturtevant Fans USAWestinghouse Fans USAHowden Buffalo USA/UK

© Howden Group 2013 15

Our extensive installed base demonstrates our experience and underpins our applications knowledge.

Products and ServicesInstalled base

Product Number

Centrifugal fans 25,000

V.P Axial fans 3,000

Cooling fans 10,000

Heat exchangers 4,000

Screw compressors 35,000

Reciprocating compressors 12,500

Turbo compressors 1,250

© Howden Group 2013

Services to install, service and maintain plant through extended lifetimes. Plant refurbishment and upgrades to enhance performance and efficiency.

Products and ServicesServices

16

Erection Spare parts supply Retrofitting

Commissioning Servicing Plant upgrades

© Howden Group 2013

We operate in a wide range of industries, which underpin today's modern industrial society.

MarketsMajor utility and process industries

Power generation Oil/gas petrochemicals Iron and steel

Mining Waste water treatment Cement manufacture

17

© Howden Group 2013

We operate in a wide range of industries, which underpin today's modern industrial society.

Company overviewMarkets – General industrial

Tunnel ventilation Pulp and paper Transport and vehicles

Refrigeration Industrial gases Defence

18

© Howden Group 2013

New equipment plus aftermarket

MarketsSales by Industry and Region

19

17%

11%

23%

49%

Industrial Mining Oil, Gas and Petrochem Power

12%

16%

21%19%

14%

18%

RoW Europe N America China Africa

Other Asia

Our sales are made throughout the world to key process industries.

By industry By region

(New equipment plus aftermarket)

© Howden Group 2013

Howden Culture

THE BEST TEAM WINS

CUSTOMERS TALK,WE LISTEN

CONTINUOUS IMPROVEMENT(KAIZEN) IS OUR WAY OF LIFE

INNOVATION DEFINESOUR FUTURE

WE COMPETE FOR SHAREHOLDERS

BASED ON OUR PERFORMANCE

VALUES

Our Values

© Howden Group 201321

Howden Culture

CBS is our approach to becoming a world class organisation, our unique business management system. It is

designed to achieve world-class performance and results by continuously eliminating waste in all processes, while

constantly improving quality, delivery and cost. It demonstrates why we operate under the principle of Continuous

Improvement and adhere to the philosophy that there is always a better way.

Colfax Business System

© Howden Group 201322

Talent Development• We have a Talent programme which optimises the skills and capabilities of Howden employees ensuring alignment to

current and future business needs. We implement a range of development activities and career paths that will our

employees to develop and grow.

Engineering Career Ladder

• Our Engineering Career Ladder provides our Engineers with a robust and clear route to develop and further their

career at Howden. Howden is proud of its engineers and their contribution to creating our reputation for Engineering

Excellence Worldwide. We want to ensure that we recognize this contribution by providing career development paths

and support for Howden engineers at all levels, allowing them to achieve their full potential.

Howden Academy

• Award winning Howden Academy is a suite of e-learning and a three week residential development programme in

partnership with a leading university which we provide to our new and acquired engineers

Developing Management Excellence

• Our global leadership programme, 8 days of classroom education in conjunction with personality profiling & e-learning

modules, being delivered to all of our managers in current and acquired businesses

Our associates have an opportunity to grow, develop and work globally

Howden cultureTalent Development

© Howden Group 2013

Thank you