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© Bruker Corporation

Bruker drives profitable growth by enabling scientific discoveries and delivering high-performance analytical, life science and diagnostic solutions.

Innovation with Integrity

Bruker Corporation (NASDAQ: BRKR)

Bruker Corporation Safe Harbor Statement

Any statements contained in this presentation that do not describe historical facts may constitute forward-looking statements

within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are based on current

expectations, forecasts and assumptions of our management and are subject to risks and uncertainties that could cause actual

results to differ materially from those indicated, including, but not limited to, risks and uncertainties relating to: adverse

changes in conditions in the global economy and volatility in the capital markets; the integration of businesses we have

acquired or may acquire in the future; fluctuations in foreign currency exchange rates; implementation of strategies for

improving our operating margins, profitability and cash flow; changing technologies; product development and market

acceptance of our products; the cost and pricing of our products; competition; dependence on collaborative partners, key

suppliers and contract manufacturers; capital spending and government funding policies; changes in governmental regulations;

the use and protection of intellectual property rights and other risk factors discussed from time to time in our filings with the

Securities and Exchange Commission, or SEC. These and other factors are identified and described in more detail in our most

recent reports filed with the SEC, including, without limitation, our annual report on Form 10-K for the year ended December

31, 2016, our most recent quarterly reports on Form 10-Q and our current reports on Form 8-K. We expressly disclaim any

intent or obligation to update these forward-looking statements other than as required by law.

© Bruker Corporation 2

BIOSPIN Group

BEST Group

NMR/EPR for Life-Science &

Pharma Research

Applied and Industrial NMR/EPR

Preclinical Imaging

Service & Life-Cycle Support

Mass Spectrometry for

• Proteomics & Metabolomics • Applied & Bio-Pharma Markets • Microbiology & Diagnostics

FTIR/NIR/Raman for Research & Applied Markets

CBRNE Detection for Security Applications

Service, Consumables & Software

Atomic Force Microscopy

Fluorescence Microscopy for Cell Biology & Neuroscience

X-Ray for Materials Research and QC

Next-Gen Semiconductor Metrology

Service & After-Market

Market Leader in Superconductors and Physics technologies for:

• Medicine: OEM MRI magnets and Particle Therapy

• Life Science Tools: NMR, EPR, MRMS and MRI

• Big Science & Fusion projects (e.g. CERN, ITER, SLAC)


NANO Group

CALID Group

Bruker Overview

Differentiated Leader in Attractive Analytical, Life Science and Diagnostic Tools Markets

• Founded in 1960, Bruker brand

stands for innovation.

• Market leader in high-value analytical technologies.

• FY2016 revenue: ~$1.6 billion

• R&D investment: ~9% of revenue

• ~6,000 employees worldwide

• 2018-2020 focus: Portfolio

Transformation and Operational Excellence

• Long-term oriented ownership:

~36% owned by insiders


Markets:

Serving Attractive, Diverse End Markets…

…with a Global Footprint

Life Science Research in Academia,

Medical Schools and Government

Pharma/Biopharma

Diagnostic Labs & Hospitals

Applied Markets

Industrial & Next-Gen Semiconductor Metrology

Superconductors for Science & Medicine

(1) For the last twelve months, ended Sept. 30, 2017

33%

29%

28%

10%

BioSpin

37%

29%

5% 29%

75%

25%

Systems

CALID

NANO

BEST

Service & After-market (2)

Americas

Europe

Rest of World

APAC

Bruker revenue breakdown, % of LTM revenue(1):

(2) Includes non-system revenue: services, consumables, software and accessories as defined in Bruker’s 2016 10-K.

BRUKER HOLDS #1 OR #2 MARKET POSITION FOR ~70% OF OUR PRODUCT PORTFOLIO


Market Leading Positions in Scientific Instruments

NMR & EPR

Spectroscopy

Preclinical Imaging: MRI,

MPI, PET/SPECT, microCT

MALDI BioTyper for Microbiology

Atomic Force Microscopy

5

Mass Spec Imaging,

MALDI-TOF & MRMS

X-Ray Diffraction Next Gen Semicon Metrology

BEST Superconductors

& Big Science Physics

FTIR/NIR Spectroscopy

& Microscopy

Atomic Force Microscopy (AFM)

Next-Gen X-ray & AFM

Semiconductor Metrology

X-Ray Diffraction (XRD)

& Crystallography

Bruker Key Objectives

1. Accelerate revenue growth:

Recent end market improvements in ACAD/GOV, Europe/US, global Industrial, Semi & Applied

Accelerate towards Life Science Tools (LST) market growth in 2018; accelerate organic growth further in 2019 and beyond

2. Sustain multi-year operating margin expansion:

On-going commercial and operational excellence initiatives

Expected total operating margin expansion of >500 bps in 3-year period 2015A-2017E

Expand operating margin 75-100 bps per year, on average, over a multi-year timeframe

3. Transform portfolio with focus on six high-growth, high-margin initiatives:

4. Disciplined capital allocation and high ROIC:

Quarterly dividend $0.04/share; announced 2-year $225M share repurchase in May 2017

BRKR ROIC >20% in both FY16 and FY15


Proteomics & Phenomics

Biopharma & Applied

Microbiology & Diagnostics

Neuroscience & Cell Microscopy

Next-gen Nanotechnology Tools

After-Market: Services, Software

and Consumables

Non-GAAP operating margin and ROIC are non-GAAP measures. A reconciliation of these measures to the most directly comparable GAAP measures is available at the end of this presentation and on Bruker’s website at http://ir.bruker.com/investors/press-releases/earnings-releases/default.aspx


Bruker creates shareholder value by:

Being well-positioned in attractive life science tools & diagnostic markets

Transforming our portfolio with a focus on six key high-growth, high-margin initiatives

Operational & Commercial Excellence

Bruker Core Values

Bruker Core Strategies

Portfolio initiatives and cost optimization drive profitable growth

Profitable Growth

Portfolio Cost

Commercial Excellence

Product R&D Excellence

Operational Excellence

• Proteomics & Phenomics

• Biopharma & Applied

• Microbiology & Diagnostics

• Neuroscience & Cell Microscopy

• Next-gen Nanotechnology Tools

• After-Market: Services, Software

and Consumables (1)

Six Key High-Growth & High-Margin Initiatives:

8

Portfolio Transformation

Fundamentally reshaping the portfolio for faster growth & continued multi-year margin expansion

2017 estimates: About 25% of Bruker’s revenue

Growing above LST market GM & OM above BRKR average


(1) Services, software and consumables, excluding Microbiology after-market & consumables.

2017 estimates: About 15% of Bruker’s revenue

Portfolio



Structural Biology by GHz-Class NMR

Phenomics by NMR Proteomics & Phenomics by Mass Spec

• Structural biology: NMR

reveals dynamics and function

• Unique for Intrinsically

Disordered Proteins,

transcription factors,

membrane proteins, protein

aggregates (in AD/PD/ALS)

• timsTOFTM Pro trapped ion

mobility QTOF with PASEF is

game-changing for bottom-up

proteomics and MS-based

phenomics

• Phenomics clinical research

and diagnostics expected to

grow rapidly in next decade

• NMR is a core technology in

metabolomics research


NEW : • Avance NEO next-gen NMR console

NEW: • timsTOFTM Pro with PASEF

Portfolio

Bruker Biopharma Solutions • Fragment-based screening by NMR

• Reaction monitoring by NMR

• rapifleX MALDI PharmaPulse: label-free ultra-high throughput MS-screening on millions of compounds

• MALDI Drug Imager: Magnetic Resonance Mass Spectrometry (MRMS) for drug metabolism imaging

• Higher-order structure screening of biosimilars by NMR

• NMR, MS and FTIR solutions for food

quality, authenticity and safety testing

• NMR FoodScreener: detect and quantify ingredients in honey, wine, juice, etc. with automated, high-value and low cost per sample NMR analyses


Biopharma & Applied Markets

Bruker Applied Markets Solutions


NEW: SCiLS Lab and SCILS Cloud MS imaging software, ToxTyper 2.0 forensic toxicology solution

Portfolio




• MALDI Biotyper identifies bacteria, yeasts and

fungi accurately and with shorter time-to-result

• Global installed base of ~2,700 systems, ‘gold standard’ for fast ID

• Comprehensive R&D roadmap: ID from positive

blood culture, select antibiotic resistance &

susceptibility assays, invasive fungal disease

(IFD) assay portfolio

• MALDI TissueTyperTM solution for molecular

pathology research

Clinical Microbiology & Pathology

Expanding consumables portfolio • Disposable MBT Biotargets

• MBT Star®-Carba CE-IVD assay for antibiotic resistance testing on MALDI Biotyper

• High-value PCR Assays: Fungiplex Aspergillus & Candida, Carbaplex Resistance CE-IVD

• Merlin Antibiotic Resistant Testing (ART) and Antibiotic Susceptibility Testing (AST) assays

Portfolio

NEW: IR Biotyper , MALDI TissueTyperTM, MBT Star®-Carba IVD CE-IVD assay, high-value invasive fungal disease PCR assays, Merlin ART and specialty AST assays



• Simultaneous, all-optical stimulation and

imaging platforms for Neuroscience

research and Optogenetics

• Next-gen Multiphoton & Super-Resolution

Cell Microscopy systems enable brain

research and high resolution live-cell

research

Fluorescence Microscopy

Mouse spermatocyte courtesy of Jackson Labs


NEW: Luxendo light sheet microscopy: Proprietary single plane illumination microscopy (SPIM) Ultima NeuraLight 3D for Optogenetics

Portfolio


Next-Gen Nanotechnology Tools

Next-Gen Nanotechnology & Semiconductor Metrology

• Logic and memory require next-gen nano-

metrology tools to ensure yield and quality

• Bruker next-gen atomic force microscopy

(AFM) and X-ray metrology tools are key

for advanced nodes and 3D chip structures


Portfolio

Fast Growing After-Market Business Focus on Services, Software and Consumables


• Bruker Services, Software and

Consumable sales are growing above

LST market average

• Gross margin below Bruker average for

services, above Bruker average for

consumables and software

• Operating margin well above Bruker

average

Portfolio

Sustained Margin Expansion Operational Excellence Initiatives & Portfolio Transformation Together Drive Multi-Year Operating Margin Expansion


Multi-year key objective: Expand operating margin 75-100 bps per year, on average, over a multi-year timeframe

10.2%

13.3%

14.8%

Implied

15.5%-15.8%*

0%

2%

4%

6%

8%

10%

12%

14%

16%

18%

2014 2015 2016 2017E*

Bruker Non-GAAP Operating Margin (%)

*2017E reflects the company’s full year guidance, issued on November 2, 2017

Non-GAAP operating margin is a non-GAAP measure. A reconciliation of this measure to the most directly comparable GAAP measure is available at the end of this presentation and on Bruker’s website at http://ir.bruker.com/investors/press-releases/earnings-releases/default.aspx

Outsourcing

2013 2014 2015 2016 2017 2018 2019 2020

Bruker

BioSpin

Bruker NANO

Bruker CALID

BEST

Rightsizing

Rightsizing & Footprint Consolidation

Outsourcing

CAM Divestitures

Rightsizing & Footprint Consolidation

Outsourcing

Footprint Consolidation

Operational Excellence & Cost Optimization

• Product R&D Excellence

• Operational Excellence

• Lean Manufacturing

• Commercial Excellence

• ERP, CRM and productivity tools

From Transformation and Rightsizing (2013-2016)

to Operational & Commercial Excellence (2017-2020)


Cost

$0.73 $0.70

YTD FY 2016YTD FY 2017

Non-GAAP EPS(2)

Bruker Year-To-Date FY 2017 financials(1)

Improved revenue growth and further operating margin expansion;

2016 tax rate affects EPS comparisons

12.8% 13.4%

Non-GAAP Operating Margin

$1,141Mil

$1,235Mil

Revenues

+60 bps -4% +$94M (+8.3%)

YTD FY 2016 YTD FY 2017


* Non-GAAP gross margin, non-GAAP operating margin, and non-GAAP EPS are non-GAAP measures. Reconciliations of these measures to the most directly comparable GAAP measures are available at the end of this presentation and on Bruker’s website at http://ir.bruker.com/investors/press-releases/earnings-releases/default.aspx

17

(1)For the nine months ended Sept. 30, 2017 and 2016. (2)Bruker’s Non-GAAP tax rates for the nine months ended Sept. 30, 2017 and Sept. 30, 2016 were 25.4% and 11.4%, respectively.

US Tax Reform

Neutral to Positive for Bruker


US Tax Reform Impact on

Bruker Comment

Lower US Corporate Tax Rate: 21% from 35%

Neutral Near-term, Bruker’s earnings and cash flow mostly non-US

Territorial tax system, full foreign dividend exemption

Positive No US tax on non-US earnings

“Toll tax”: taxable repatriation of foreign earnings accumulated through Dec. 31, 2017

Negative One-time “toll tax” on non-US earnings accumulated through Dec. 31, 2017

Other provisions: “GILTI”, limits on interest expense deductibility, corporate AMT repeal

Neutral No low-taxed foreign income, low net debt to total cap, not subject to AMT

Bruker Key Objectives

1. Accelerate revenue growth:

Recent end market improvements in ACAD/GOV, Europe/US, global Industrial, Semi & Applied

Accelerate towards Life Science Tools (LST) market growth in 2018; accelerate organic growth further in 2019 and beyond

2. Sustain multi-year operating margin expansion:

On-going commercial and operational excellence initiatives

Expected total operating margin expansion of >500 bps in 3-year period 2015A-2017E

Expand operating margin 75-100 bps per year, on average, over a multi-year timeframe

3. Transform portfolio with focus on six high-growth, high-margin initiatives:

4. Disciplined capital allocation and high ROIC:

Quarterly dividend $0.04/share; announced 2-year $225M share repurchase in May 2017

BRKR ROIC >20% in both FY16 and FY15



Biopharma & Applied



Next-gen Nanotechnology Tools

After-Market: Services, Software

and Consumables

Non-GAAP operating margin and ROIC are non-GAAP measures. A reconciliation of these measures to the most directly comparable GAAP measures is available at the end of this presentation and on Bruker’s website at http://ir.bruker.com/investors/press-releases/earnings-releases/default.aspx


www.bruker.com

20

Bruker Corporation Reconciliation of GAAP to NON-GAAP Financial Measures (unaudited)


(in millions, except per share amounts)

2017 2016

Reconciliation of Non-GAAP Operating Income, Non-GAAP Profit Before

Tax, Non-GAAP Net Income, and Non-GAAP EPS

GAAP Operating Income 121.0$ 100.3$

Non-GAAP Adjustments:

Restructuring Costs 8.5 12.8

Acquisition-Related Costs 9.4 10.4

Purchased Intangible Amortization 22.6 16.2

Other Costs 3.8 6.2

Total Non-GAAP Adjustments: 44.3$ 45.6$

Non-GAAP Operating Income 165.3$ 145.9$

Non-GAAP Operating Margin 13.4% 12.8%

Non-GAAP Interest & Other Expense, net (12.9) (11.1)

Non-GAAP Profit Before Tax 152.4 134.8

Non-GAAP Income Tax Provision (38.7) (15.4)

Non-GAAP Tax Rate 25.4% 11.4%

Minority Interest (1.3) (0.8)

Non-GAAP Net Income Attributable to Bruker 112.4 118.6

Weighted Average Shares Outstanding (Diluted) 159.9 162.7

GAAP Earnings Per Diluted Share 0.51$ 0.52$

Non-GAAP Earnings Per Share 0.70$ 0.73$

Nine Months Ended September 30,

Bruker Corporation Reconciliation of GAAP to NON-GAAP Financial Measures (Unaudited)



2017 2016

Reconciliation of GAAP and Non-GAAP Gross Profit

GAAP Gross Profit 557.8$ 522.1$


Restructuring Costs 1.6 6.4

Acquisition-Related Costs 5.6 2.3

Purchased Intangible Amortization 18.4 14.0

Other Costs 0.7 0.1

Total Non-GAAP Adjustments: 26.3 22.8

Non-GAAP Gross Profit 584.1$ 544.9$

Non-GAAP Gross Margin 47.3% 47.8%

Reconciliation of GAAP and Non-GAAP Tax Rate

GAAP Tax Rate 23.7% 4.3%


Tax Impact of Non-GAAP Adjustments 1.5% -2.4%

Tax Authority Settlements 0.0% 1.7%

Valuation Allowance Release 0.0% 9.3%

Other Discrete Items 0.2% -1.5%

Total Non-GAAP Adjustments: 1.7% 7.1%

Non-GAAP Tax Rate 25.4% 11.4%





2017 2016

Reconciliation of GAAP and Non-GAAP Interest & Other Income (Expense), net

GAAP Interest & Other Income (Expense), net (11.8)$ (11.1)$


Bargain Purchase Gain (1.1) -

Non-GAAP Interest & Other Income (Expense), net (12.9)$ (11.1)$

Reconciliation of GAAP Operating Cash Flow and Non-GAAP Free Cash Flow

GAAP Operating Cash Flow 50.7$ 40.0$


Purchases of property, plant and equipment (31.3) (26.0)

Non-GAAP Free Cash Flow 19.4$ 14.0$

Reconciliation of GAAP Revenue and Non-GAAP Revenue

GAAP Revenue as of Prior Comparable Period 1,141.0$ 1,145.6$


Acquisitions and divestitures 60.4 23.5

Currency (5.1) (1.9)

Organic 39.1 (26.2)

Total Non-GAAP Adjustments: 94.4 (4.6)

Non-GAAP Revenue 1,235.4$ 1,141.0$

Organic Revenue Growth 3.4% -2.3%





2016 2015 2014

Reconciliation of Non-GAAP Operating Income, Non-GAAP Profit Before

Tax, Non-GAAP Net Income, and Non-GAAP EPS

GAAP Operating Income 177.2$ 145.7$ 105.4$


Restructuring Costs 20.8 29.3 36.1

Acquisition-Related Costs 11.1 (4.7) 4.0

Purchased Intangible Amortization 21.7 20.8 20.2

Other Costs 7.1 24.1 18.7

Total Non-GAAP Adjustments: 60.7$ 69.5$ 79.0$

Non-GAAP Operating Income 237.9$ 215.2$ 184.4$

Non-GAAP Operating Margin 14.8% 13.3% 10.2%

Non-GAAP Interest & Other Income (Expense), net (8.8) (17.5) (10.0)

Non-GAAP Profit Before Tax 229.1 197.7 174.4

Non-GAAP Income Tax Provision (35.9) (43.4) (43.8)

Non-GAAP Tax Rate 15.7% 22.0% 25.1%

Minority Interest (0.9) (3.3) (2.9)

Non-GAAP Net Income Attributable to Bruker 192.3 151.0 127.7

Weighted Average Shares Outstanding (Diluted) 162.2 169.1 169.5

GAAP Earnings Per Diluted Share 0.95$ 0.60$ 0.33$

Non-GAAP Earnings Per Share 1.19$ 0.89$ 0.75$

Twelve Months Ended December 31,

Bruker Corporation Reconciliation of GAAP to NON-GAAP Financial Measures



For more information, visit Bruker’s website at http://ir.bruker.com/investors/press-releases/earnings-releases/default.aspx

With respect to the Company's outlook for 2017 non-GAAP operating margin, non-GAAP EPS and non-GAAP tax rate, we are not providing the most directly comparable GAAP financial measures or corresponding reconciliations to such GAAP financial measures on a forward-looking basis, because we are unable to predict with reasonable certainty certain items that may affect such measures calculated and presented in accordance with GAAP without unreasonable effort. Our expected non-GAAP operating margin, tax rate and EPS ranges exclude primarily the future impact of restructuring actions, unusual gains and losses, acquisition-related expenses and purchase accounting fair value adjustments. These reconciling items are uncertain, depend on various factors outside our management’s control and could significantly impact, either individually or in the aggregate, our future period operating margins, EPS and tax rate calculated and presented in accordance with GAAP.

2016 2015

Reconciliation of Non-GAAP Return on Invested Capital (ROIC)

Non-GAAP Operating Income (from above) 237.9$ 215.2$

Less: Non-GAAP Income Tax Provision (from above) (35.9) (43.4)

Non-GAAP Operating Income after Tax 202.0$ 171.8$

Average Total Invested Capital:

Average Long-Term Debt 328.8$ 310.1$

Average Current portion of Long-Term Debt 10.4 0.7

Average Total Shareholders' Equity 713.0 752.3

Less: Average Cash and Cash Equivalents (304.8) (293.3)

Average Total Invested Capital 747.4$ 769.8$

Return on Invested Capital (ROIC) 27.0% 22.3%

http://ir.bruker.com/investors/press-releases/earnings-releases/default.aspx






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