Slide 1: Second Quarter 2026 Earnings Conference Call
Second Quarter 2026 EARNINGS CONFERENCE CALL August 6, 2026 © 2024
Slide 2: Forward-Looking Statements & Non-GAAP Disclaimer
Forward-Looking Statements & Non-GAAP Disclaimer Forward-Looking Statements This presentation includes 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 no
Slide 3: 2Q 2026 Highlights
2Q 2026 Highlights 2Q 2026 results: ▪ Record 2Q total core sales & aEBITDA ▪ Organic growth in both segments $766M +13% Sales1 Total Core Growth1 ▪ Robust NAM demand, resilient ROW +2.5% Core Organic Growth1 ▪ Margins impacted by: $150M +8% ▪ Transitory price/cost neutrality ▪ Increased logistics an
Slide 4: Eddyfi Powers the Next Phase of ESAB's Workflow
Eddyfi Powers the Next Phase of ESAB's Workflow Eddyfi Overview Premier Financial Profile1 ▪ A global leader in inspection & monitoring ~$270M / HSD ~65% technologies for mission-critical applications 2026E FY Sales / Growth 2026E Adj. Gross Margin ▪ High-growth applications in attractive end-market
Slide 5: ESAB + Eddyfi Creates Unrivaled Workflow Solution
ESAB + Eddyfi Creates Unrivaled Workflow Solution Wire Weld Monitor Analyze Trace Preparation Joining Process Real-time Assessment Data-Driven Insights Full Traceability Data Analytics Faster Growth & Higher Margin Unrivaled workflow solution to drive growth and margin expansion Proprietary & Confid
Slide 6: Shifting Mix to Faster Growth and Higher Margins
Shifting Mix to Faster Growth and Higher Margins + + + + 38% 46% 3% 50%2 8% 10% 16% 16% Pro-Forma 28% 2016 2Q 2026 1,3 54% 2026 1,2 50% Sales Sales Sales 62% 27% 26% Growth Profile LSD LSD-MSD MSD Filler Metal Equipment Gross Margin % ~35% ~39% ~40%+ Gas Equipment Eddyfi Accelerating journey to beco
Slide 7: Reshaping ESAB – Faster Growing and Higher Margin
Reshaping ESAB – Faster Growing and Higher Margin Recent Growth Gross Acquisitions Profile Margin % Eddyfi enhances ESAB‘s workflow solution M&I HSD Accretive MSD Accretive Gas Control Equipment Aktiv and DeltaP expands Gas Control offering MSD Accretive EWM positions ESAB as a leader in equipment t
Slide 8: ESAB 2Q 2026 Financial Summary
ESAB 2Q 2026 Financial Summary ($ Millions) 2Q 20261 2Q 20251 YoY1 Total Sales $766 $679 13% aEBITA $138 $129 7% aEBITA Margin % 18.0% 19.0% (100) bps aEBITDA $150 $138 8% aEBITDA Margin % 19.5% 20.4% (90) bps 2Q Highlights: 2Q 2026 Sales Growth1 : ▪ Strong execution in dynamic environment Organic 2
Slide 9: Eddyfi Impact on 2Q 2026 Earnings
Eddyfi Impact on 2Q 2026 Earnings ESAB 2Q 2026 aEPS With Eddyfi $1.41 $1.33 Ex Eddyfi, core adjusted EPS was $1.41 ($0.13) ($0.03) $0.07 Exceptional market timing; 5.625% bond yield MCPS pay 6.5% dividend & converts to common in year 3 Core aEPS Pre-fund MCPS & Eddyfi 2Q 26 Core 1.25M common issued
Slide 10: ESAB 2Q 2026 Americas
ESAB 2Q 2026 Americas ($ Millions) 2Q 2026 2Q 2025 YoY Total Sales $316 $283 12% aEBITDA $64 $57 13% aEBITDA Margin % 20.3% 20.1% 20 bps 2Q Highlights: 2Q 2026 Sales Growth1: Organic 5% ▪ Mid-teens organic growth in NAM on equipment strength Price 3% ▪ Mexico stabilizing and SAM softer as expected V
Slide 11: ESAB 2Q 2026 EMEA and APAC
ESAB 2Q 2026 EMEA and APAC 1 ($ Millions) 2Q 20261 2Q 20251 YoY Total Sales $450 $396 14% aEBITDA $86 $82 5% aEBITDA Margin % 19.0% 20.6% (160) bps 2Q Highlights: 2Q 2026 Sales Growth1 : ▪ Organic growth despite geopolitical headwinds Organic 1% Price 2% ▪ Transitory price/ Cost neutrality Volume (1
Slide 12: Focused on Deleveraging
Focused on Deleveraging H1 2026 Cash Performance Adjusted Free Cash Flow ($M) H1 cash reflects investment in ESAB $131 $19 ▪ Restructuring & integration sets foundation for future $9 ▪ Additional equipment inventory $22 ▪ Leveraging EBXai to structurally improve W/C turns Prioritizing the balance sh
Slide 13: Updating 2026 Outlook
Updating 2026 Outlook Prior Updated Core Financial FY 25 FY 26 Outlook FY 26 Outlook 1 1 Metrics Actuals (Excludes Eddyfi) (Includes Eddyfi) ▪ Outlook includes: Sales $2.70B $2.85–$2.95B $3.00–$3.10B ▪ 7 months of Eddyfi Organic Growth % Flat 2.0%–4.0% 2.0%–4.0% ▪ Sales Outlook assumes: ▪ M&A benefi
Slide 14: Summary
Summary ■ Record 2Q total core sales & aEBITDA ■ Positive organic growth in both segments ■ Strong growth funnel unlocking opportunities ■ Go to Gemba ■ Reinvigorating EBXai: driving out cost, sharpening focus Shared Help Each Always Purposeful Every Voice Success Other Win Improving Leadership Valu
Slide 15: Appendix
Appendix Pd ESAB * ESAB CORPORATION =_
Slide 16: Full Year 2026 Guidance
Full Year 2026 Guidance ESAB Prior 2026 Guidance – Ex Eddyfi1 Updated 2026 Guidance – Includes Eddyfi1 Sales ($B) 2.85 – 2.95 3.00 – 3.102 Total Growth 6.0% – 9.0% 11.0% – 14.0%2 Core Organic Growth 2.0% – 4.0% 2.0% – 4.0% FX 0.0% – 1.0% 0.0% – 1.0% M&A ~4.0% ~9.0% aEBITDA ($M) 575 – 595 615 – 625 I
Slide 17: Non-GAAP Reconciliation EBITA – 2Q '26 Total & Segments
Non-GAAP Reconciliation EBITA – 2Q '26 Total & Segments1 Three Months Ended July 3, 2026 % of % of % of ($ Millions) Americas EMEA & APAC Total ESAB NSV NSV NSV Net Sales $ 315.9 $ 491.7 $ 807.6 Net Sales attributable to Russia — 41.4 41.4 Core Net Sales $ 315.9 $ 450.4 $ 766.3 Operating Income $ 22
Slide 18: Non-GAAP Reconciliation EBITDA – 2Q '26 Total & Segments
Non-GAAP Reconciliation EBITDA – 2Q '26 Total &Segments1 Three Months Ended July 3, 2026 % of % of % of ($ Millions) Americas EMEA & APAC Total ESAB NSV NSV NSV Net Sales $ 315.9 $ 491.7 $ 807.6 Net Sales attributable to Russia — 41.4 41.4 Core Net Sales $ 315.9 $ 450.4 $ 766.3 Operating Income $ 22
Slide 19: Non-GAAP Reconciliation EBITA – 2Q '25 Total & Segments
Non-GAAP Reconciliation EBITA – 2Q '25 Total & Segments1 Three Months Ended July 4, 2025 % of % of % of ($ Millions) Americas EMEA & APAC Total ESAB NSV NSV NSV Net Sales $ 282.7 $ 432.9 $ 715.6 Net Sales attributable to Russia — 37.1 37.1 Core Net Sales $ 282.7 $ 395.7 $ 678.5 Operating Income $ 42
Slide 20: Non-GAAP Reconciliation EBITDA – 2Q '25 Total & Segments
Non-GAAP Reconciliation EBITDA – 2Q '25 Total & Segments1 Three Months Ended July 4, 2025 % of % of % of ($ Millions) Americas EMEA & APAC Total ESAB NSV NSV NSV Net Sales $ 282.7 $ 432.9 $ 715.6 Net Sales attributable to Russia — 37.1 37.1 Core Net Sales $ 282.7 $ 395.7 $ 678.5 Operating Income $ 4
Slide 21: Non-GAAP Reconciliation – Net Income to Adjusted EPS
Non-GAAP Reconciliation – Net Income to Adjusted EPS1 Three months ended ($ Millions, except Per Share Data) July 3, 2026 July 4, 2025 Net income from continuing operations $ 36.4 $ 69.8 Income attributable to noncontrolling interest, net of taxes (1.6) (1.2) Declared dividends on the MCPS (1.4) — N
Slide 22: Non-GAAP Reconciliation – Adj. Free Cash Flow
Non-GAAP Reconciliation – Adj. Free Cash Flow 1 Three months ended Six months ended ($ Millions) July 3, 2026 July 4, 2025 July 3, 2026 July 4, 2025 Net cash provided by operating activities $ 33.4 $ 46.6 $ 80.3 $ 82.0 Purchases of property, plant and equipment (17.7) (9.2) (31.4) (16.5) Payments re