Q4 2014 earnings slides final

1. Bruker Corporation (NASDAQ: BRKR)
Q4 2014 Earnings Presentation
Frank Laukien, President & CEO
Charles Wagner, EVP & CFO
Joshua Young, VP, Investor RelationsFebruary 19, 2015
Innovation with Integrity

2. Any statements contained in this presentation that do not describe historical facts may constitute
forward-looking statements as that term is defined in the Private Securities Litigation Reform Act of 1995.
Any forward-looking statements contained herein are based on current expectations, but are subject to
risks and uncertainties that could cause actual results to differ materially from those projected, 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, changing technologies, product development and market acceptance of our products, the cost and
pricing of our products, manufacturing, competition, dependence on collaborative partners and key
suppliers, capital spending and government funding policies, changes in governmental regulations,
realization of anticipated benefits from economic stimulus programs, intellectual property rights,
litigation, and exposure to foreign currency fluctuations and other risk factors discussed from time to time
in our filings with the Securities and Exchange Commission. These and other factors are identified and
described in more detail in our filings with the SEC, including, without limitation, our annual report on
Form 10-K for the year ended December 31, 2013, and our quarterly report on Form 10-Q for the period
ended September 30, 2014. We will also be referencing non-GAAP financial measures in this
presentation. A reconciliation of non-GAAP to GAAP results is available in our earnings press release and
in this presentation.
Bruker Corporation
Safe Harbor & Reg. G Statement
© Bruker Corporation 2

3. Q4 & FY 2014 Business Update
© Bruker Corporation 3

4. $0.31
$0.30
Q4-13
Q4-14
Q4-14 Financials
Revenues [$ m]
Non-GAAP EPS
Q4-14 performance: lower revenue and EPS were
in-line with expectations
-8%
-3%
© Bruker Corporation 4
552
508
Q4-13 Q4-14
Q4 2014 Performance
 Revenues decline -$44M, or -8%, year-over-
year
− Changes in foreign exchange rates lower
revenues by -$34M, or -6%
− CAM divestitures result in -$8M year-
over-year decline, or -1.4%
− Organic decline of -$3M, or -0.5%,
mostly due to BEST
 Currency negatively impacted operating profit
by -$6M, compared to Q4-13
 Non-GAAP EPS of $0.30 benefits from lower tax
rate in Q4-14, compared to Q4-13

5. $0.77
$0.75
FY 2013
FY 2014
FY 2014 Financials
Revenues [$ B]
Non-GAAP EPS
FY 2014 performance reflects currency headwinds &
softness in NMR and X-Ray markets
-2%
-3%
© Bruker Corporation 5
1.84
1.81
FY 2013 FY 2014
FY 2014 Performance
 Revenue decline of -2% y-o-y; flat organic growth
1.BIOSPIN revenues flat; good year in
Pre-Clinical Imaging division offset by
second-half declines in NMR revenue
2.CALID revenues decline -5% driven by a
reduction in CAM revenues of -$22M; CAM
non-GAAP operating loss of -$27M lowers
profitability
3.NANO revenues decline -1% due to soft
industrial & semi markets
4.Low single-digit organic revenue growth in
Americas and flat in Europe, offset by mid-
single-digit revenue decline in Asia
 Non-GAAP EPS declines by ($0.02) to $0.75,
including negative currency impact of ($0.08)

6. Bruker BIOSPIN Group ($623M revenue)
 Revenues decline in NMR business, as demand for high-field
systems remains muted
 Pre-Clinical Imaging Division delivers robust double-digit growth,
as demand for higher-field MRI systems drives growth
 Good growth in the Americas offset by declines in Europe
 Negotiating with worker’s councils to right-size BIOSPIN cost
structure in 2015; proposed global headcount reduction of ~9%,
and consolidation of German manufacturing sites
Bruker CALID Group ($554M revenue, incl. CAM)
 LSC renamed to Daltonics Division; >20% growth for MALDI
Biotyper; former LSC Leipzig factory and CAM Fremont factory
consolidated into Daltonics Bremen factory
 Optics Division delivers another year of profitable growth and
becomes most profitable business in Bruker portfolio
 CAM Division restructuring expected to be completed in Q1-15;
expect $50M y-o-y revenue decline from CAM shut-down in FY15
 Detection Division revenues decline primarily due to export license
delays; new order bookings remain strong
6© Bruker Corporation
GROUP OVERVIEW:
FY 2014 Performance

7. Bruker NANO Group ($498M revenue)
 Solid growth in Nano Surfaces and Nano Analytics divisions, as
academic and research markets strengthen
 Prairie and Vutara acquisitions added ~$11M to revenue in FY-14
 Bookings growing in Nano Surfaces Division during H2 as AFM and
life science products see increasing demand
 Declines in AXS and Elemental divisions due to continued
weakness in industrial demand & Japan exposure
BEST Segment ($153M revenue)
 Delivers 4% revenue growth despite delay of Rosatom pilot line
 Robust new order bookings as result of long-term supply
agreements for superconducting wire for MRI
 Existing, large ITER project coming to an end, but “Big Science”
demand remains healthy
GROUP OVERVIEW:
FY 2014 Performance
7© Bruker Corporation

8. Bruker 2015 Priorities
© Bruker Corporation 8
Continue transformation of leadership,
management processes, and systems
Execute BIOSPIN rightsizing and footprint
consolidation
Accelerate further outsourcing of high-
level assemblies in CALID and NANO
Re-accelerate profitable growth in
portfolio with new products and by
entering adjacent markets

9. Q4 2014 Financial Update
© Bruker Corporation 9

10. NON-GAAP FINANCIAL PERFORMANCE:
Q4 2014 Overview
[$ m, except EPS] Q4 2014 Q4 2013 Δ
Revenues 508.0 552.1 -8%
Operating Income 63.7 81.3 -22%
Margin (%) 12.5% 14.7%
EPS $0.30 $0.31 -3%
Free Cash Flow 62.2 122.4 -60.2M
 Revenues are nearly flat,
after adjusting for FX and
CAM divestitures
 Free cash flow decline is
result of lower net income
and tough y-o-y comparison
 Working capital ratios
improve as result of
improved operations,
outsourcing and currency
changes
 Net cash balance beginning
to build
10© Bruker Corporation
COMMENTS
[$ m] Dec 31,2014 Dec 31,2013 Δ
Net Cash 142.5 83.7 70%
Working capital (WC)* 694.6 822.6 -16%
WC-to-revenue ratio 0.38 0.45 -0.07
* WC = (Accounts Receivable +
Inventory – Accounts Payable)

11. Q4 2014 Non-GAAP Results
 FX reduces revenue by
-$34M and gross profit
by -$16M; no material
effect on gross margin as
% of revenues
 Gross margins down due
to business mix
 Currency lowered total
operating profit by -$6M
 Lower tax rate in Q4-14
is result of jurisdictional
mix and release of
valuation allowances
11© Bruker Corporation
COMMENTS[$ m, except EPS] Q4 2014 Q4 2013 Δ
Total Revenues 508.0 552.1 -8%
Gross Profit 223.2 248.3 -10%
Margin (% of revenues) 43.9% 45.0%
SG&A -117.9 -117.9 NM
(% of revenues) 23.2% 21.4%
R&D -41.6 -49.1 -15%
(% of revenues) 8.2% 8.9%
Operating Income 63.7 81.3 -22%
(% of revenues) 12.5% 14.7%
Tax Rate 20.0% 28.6% -860 bps
Net Income* 50.3 52.2 -4%
EPS $0.30 $0.31 -3%
Shares Outstanding 169.6 169.0 NM
* Attributable to BrukerSum of items may not total due to rounding

12. Q4 2014 Reconciliation of GAAP and
Non-GAAP Results
[$ m, except EPS] Q4 2014 Q4 2013
GAAP Operating Income 44.5 61.0
Restructuring Costs 6.8 11.7
Acquisition Related Costs 1.0 2.3
Purchased Intangible Amortization 5.1 5.4
Other Costs 6.3 0.9
TOTAL 19.2 20.3
Non-GAAP Operating Income 63.7 81.3
Non-GAAP Net Interest Income (Expense) & Other -0.3* -7.2
Non GAAP Profit Before Tax 63.4 74.1
Taxes -12.7 -21.2
Non-GAAP Tax Rate 20.0% 28.6%
Minority Interest -0.4 -0.7
Non-GAAP Net Income** 50.3 52.2
Non-GAAP EPS $0.30 $0.31
12© Bruker Corporation
*Excludes $0.7M of net losses for 2014
** Attributable to BrukerSum of items may not total due to rounding

13. FY 2013 Organic Currency Acquisition FY 2014
$1,839.4
$1,808.9
FY 2014 revenue bridge
 Organic revenue decline
of -0.4%
 CAM reduces FY14
organic revenue growth
by nearly 1%
 Big currency swings in
Q4 drove overall
negative currency effect
for FY-14
13© Bruker Corporation
FY 2014 DRIVERS
FY 2014 Revenue Bridge [$ m]
-$8.0 -$25.4
$2.9
Organic Currency
Acquisitions &
Divestitures Total
-0.4% -1.4% 0.1% -1.7%
FY 2014 Revenue for Bruker Corp.

14. FY 2014 Non-GAAP Results
 Gross margins are flat
y-o-y after adjusting for
currency
 Lower R&D spend
reflects benefits of
previous restructuring
programs; investments
in needed capabilities
drove higher SG&A
 Tax rate of 25.1%
benefited from tax
planning activities and
reserve releases
14© Bruker Corporation
COMMENTS
* Attributable to BrukerSum of items may not total due to rounding
[$ m, except EPS] FY 2014 FY 2013 Δ
Total Revenues 1,808.9 1,839.4 -2%
Gross Profit 807.7 832.5 -3%
Margin (% of revenues) 44.7% 45.3%
SG&A -449.1 -436.5 3%
(% of revenues) 24.8% 23.7%
R&D -174.2 -190.5 -9%
(% of revenues) 9.6% 10.4%
Operating Income 184.4 205.5 -10%
(% of revenues) 10.2% 11.2%
Tax Rate 25.1% 27.0% -190 bps
Net Income* 127.7 129.3 -1%
EPS $0.75 $0.77 -3%
Shares Outstanding 169.5 168.5 NM

15. FY 2014 Reconciliation of GAAP to
Non-GAAP Results
[$ m, except EPS] FY 2014 FY 2013
GAAP Operating Income 105.4 148.2
Restructuring Costs 36.1 25.3
Acquisition Related Costs 4.0 4.5
Purchased Intangible Amortization 20.2 20.7
Other Costs 18.7 6.8
TOTAL 79.0 57.3
Non-GAAP Operating Income 184.4 205.5
Non-GAAP Net Interest Income (Expense) & Other* -10.0 -26.0
Non GAAP Profit Before Tax 174.4 179.5
Taxes -43.8 -48.5
Non-GAAP Tax Rate 25.1% 27.0%
Minority Interest -2.9 -1.7
Non-GAAP Net Income** 127.7 129.3
Non-GAAP EPS $0.75 $0.77
15© Bruker Corporation
Sum of items may not total due to rounding
*Excludes $5.9 and $2.4 million of net gains for 2014 and 2013
**Attributable to Bruker

16. FY 2014 Cash Flow Statement
 FY-14 free cash flow
decline due to lower net
income, partially offset
by lower capex spending
 Lower net income
impacted by higher
restructuring charges
 Good progress on
inventory, offset by
higher receivables
 Lower capex due to
timing of projects; capex
expected to be higher in
FY-15
16© Bruker Corporation
COMMENTS[$ m] FY 2014 FY 2013 Δ
Net Income 59.6 81.8 -22.2
Depreciation & amortization 59.7 61.3 -1.6
Changes in working capital* -1.6 -10.6 9.0
Other -3.4 12.5 -15.9
Operating cash flow 114.3 145.0 -30.7
Capital expenditures -33.8 -50.3 16.5
Free cash flow 80.5 94.7 -14.2

17. 2015 Outlook
© Bruker Corporation 17

18. Changes in currency continue to be strong
headwind to revenue and EPS in 2015
© Bruker Corporation 18
FX y-o-y effect 2014* FX y-o-y effect 2015E**
Revenue Non-GAAP Op.
Profit
EPS
($25m)
($17m)
($0.08)
Revenue Non-GAAP Op.
Profit
EPS
($135m)
($22m)
($0.09)
*Difference between 2013 average FX rates and 2014 average FX rates
**Difference between FX rates as of Jan 16, 2015 and average FX rates in 2014

19. FY 2015 Financial Outlook
Revenues (organic) Approximately +1% y-o-y
Non-GAAP Operating Margin >100 bps y-o-y
Non-GAAP EPS Approximately flat with 2014
19© Bruker Corporation
Bruker FY 2015 Outlook
 Changes in currency
reduce revenues by
7-8%, with biggest
impact in Q1-Q3
 CAM related revenues
decrease by $50M in
2015
 Capex of approximately
$45M
 Tax rate: 26-28%
 Current currency
assumptions:
Yen/USD: 1.17
EUR/USD: 1.16
2015 ASSUMPTIONS

20. Appendix
© Bruker Corporation 20

21. Q4 2014 GAAP Results
[$ m, except EPS] Q4 2014 Q4 2013 Δ
Total Revenues 508.0 552.1 -8%
Gross Profit 215.8 235.9 -9%
Margin (% of sales) 42.5% 42.7%
SG&A -118.5 -118.3 NM
(% of revenues) 23.3% 21.4%
R&D -41.6 -49.1 -15%
(% of revenues) 8.2% 8.9%
Operating Income 44.5 61.0 -27%
(% of revenues) 8.8% 11.0%
Net Income* 26.1 35.2 -26%
EPS $0.15 $0.21 -29%
Shares Outstanding 169.6 169.0 NM
21© Bruker Corporation
* Attributable to BrukerSum of items may not total due to rounding

22. Q4 2013 Organic Currency Acquisition Q4 2014
$552.1
$508.0
Q4 2014 revenue bridge
 Organic revenue decline
of -0.5% primarily result
of lower BEST revenue in
Q4-14
 Currency effect of
-$34M is the result of the
dollar strengthening
against nearly all global
currencies in Q4
– Largest effects are vs.
Yen and Euro
 Net acquisitions &
divestitures of -$7.1M is
the net effect of the CAM
divestitures and the
acquisition of Vutara
22© Bruker Corporation
Q4 2014 DRIVERS
Q4 2014 Revenue Bridge [$ m]
$-2.8 $-34.2
-$7.1
Organic Currency
Acquisitions &
Divestitures Total
-0.5% -6.2% -1.3% -8.0%
Q4 2014 Revenue for Bruker Corp.

23. Q4 2014 Cash Flow Statement
[$ m] Q4 2014 Q4 2013 Δ
Net Income 26.5 35.9 -9.4
Depreciation & amortization 12.1 15.9 -3.8
Changes in working capital* -4.4 22.0 -26.4
Other 35.1 57.6 -22.5
Operating cash flow 69.3 131.4 -62.1
Capital expenditures -7.1 -9.0 1.9
Free cash flow 62.2 122.4 -60.2
23© Bruker Corporation
* WC = (Accounts Receivable + Inventory - Accounts Payable)

24. Balance sheet
[$ m] Dec 31, 2014 Dec 31, 2013 Δ
Cash, Cash Equivalents & Short-term
Investments
497.5 438.7 13%
Financial Debt 355.0 355.0 NM
Net Cash 142.5 83.7 70%
24© Bruker Corporation
[$ m] Dec 31, 2014 Dec 31, 2013 Δ
Total Assets 1,864.8 1,988.3 -6%
Working Capital* 694.6 822.6 -16%
Intangible & Other Long-Term Assets 248.6 256.9 -3%
* WC = (Accounts Receivable + Inventory - Accounts Payable)

25. FY 2014 GAAP Results
[$ m, except EPS] FY 2014 FY 2013 Δ
Total Revenues 1,808.9 1,839.4 -2%
Gross Profit 763.3 805.2 -5%
Margin (% of sales) 42.2% 43.8%
SG&A -451.0 -437.9 3%
(% of revenues) 24.9% 23.8%
R&D -174.2 -190.5 -9%
(% of revenues) 9.6% 10.4%
Operating Income 105.4 148.2 -29%
(% of revenues) 5.8% 8.1%
Net Income* 56.7 80.1 -29%
EPS $0.33 $0.48 -31%
Shares Outstanding 169.5 168.5 NM
25© Bruker Corporation
Sum of items may not total due to rounding
* Attributable to Bruker

26. Q4 SEGMENT RESULTS:
BSI and BEST GAAP Performance
[$ m] Q4 2014 Q4 2013 Δ
REVENUE
Scientific Instruments (BSI) 475.8 511.0 -7%
Organic Revenue Growth (%) 0.6% 5.9%
Energy & Supercon Technologies (BEST) 36.7 46.6 -21%
Organic Revenue Growth (%) -14.1% 17.4%
Corporate Eliminations & Other -4.5 -5.5
Total Revenue 508.0 552.1 -8%
OPERATING INCOME
Scientific Instruments (BSI) 51.3 54.9 -7%
Energy & Supercon Technologies (BEST) -7.6 2.8 371%
Corporate Eliminations and Other 0.8 3.3
Total Operating Income 44.5 61.0 -27%
26© Bruker Corporation
Sum of items may not total due to rounding