2016 Investor Presentation

Confidential 2

Forward Looking Statements

The statements made during this presentation, including the answers to your questions, include

information that the Company believes to be forward-looking statements within the meaning of the Private

Securities Litigation Reform Act. Forward-looking statements involve risk and uncertainties that may cause

actual results or events to differ materially from those expressed or implied in such statements. Those risks

include, among other things, matters that the Company has described in its earnings release and in its

filings with the Securities and Exchange Commission. The Company does not undertake any ongoing

obligation, other than that imposed by law, to publicly update or revise any forward-looking statements to

reflect future events, information, or circumstances that arise after this presentation. In addition, this

presentation contains time sensitive information that reflects management's best judgment only as of the

date of this presentation.

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Investment Thesis

• High and early exposure to NAM recovery

• Free cash flow

• Strong balance sheet

• Scalable operations and low capex requirements

• Disciplined acquisition strategy

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Sources of Revenue As a percent of 2015 sales

Early exposure to NAM recovery

Geography Purchase Cycle

Weighting towards • Consumable products • Activity-based equipment • Short cycle capital equipment

Onshore / Offshore

NAM Land Product manufacturer

Consumable Products

50%

Other 2%

Capital Equipment

34%

Activity-based

Equipment 14%

Onshore 77%

Offshore 23%

United States 60%

Europe Africa 18%

Asia Pacific

6%

Middle East 6%

Latin America

5%

Canada 5%

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Free Cash Flow History

Cumulative Free Cash Flow - $741 million and Net Income - $629 million

Note: Free Cash Flow is a non-GAAP measures. See reconciliation of Net Income to Free Cash Flow at the end of this presentation. Net income for 2015 excludes the after-tax impact of $156.5 million of net expenses related to goodwill and intangible asset impairment, charges for inventory and other working capital reserves, restructuring charges, transaction expenses, and gain on foreign exchange

$-

$100

$200

$300

$400

$500

$600

$700

$800

2009 2010 2011 2012 2013 2014 2015

Net Income

FCF

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Free Cash Flow

2016 Focus • Working capital reduction • Lower capital expenditures

($ millions) 9/30/16 2015 2014 2013 Free cash flow, before acquisitions Net income $ (70) $ (119) $ 174 $ 129 Depreciation and amortization 47 66 65 61 Goodwill and intangible asset impairment - 125 - - Other, primarily working capital 67 82 31 21 Net cash provided by operations $ 44 $ 154 $ 270 $ 211

Capital expenditures, net (10) (31) (54) (60) Other - 2 3 1 Free cash flow, before acquisitions $ 34 $ 125 $ 219 $ 152

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Capitalization and Credit Statistics Strong balance sheet

($ millions) 9/30/16 12/31/15 Capitalization 6.25% Senior unsecured notes due October 2021 $ 400 $ 400 Senior secured revolving credit facility ($200mm) - - Other debt - - Total debt $ 400 $ 400

Total equity 1,178 1,257 Total capitalization $ 1,578 $ 1,657

Less: cash & cash equivalents 133 109 Net capitalization $ 1,445 $ 1,548

Credit Statistics Credit rating (S&P / Moody's) B / B2 B / B2 Net debt $ 267 $ 291 Net Capitalization ratio (net debt) 18% 19% Leverage ratio (net debt) 9.9x 1.8x

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Orders, sequential change Note: Orders for the third quarter 2015 exclude the approximately $21 million contract with Egyptian Refining Company for eight Edge II desalters.

-35%

-25%

-15%

-5%

5%

15%

4Q14 1Q15 2Q15 3Q15 4Q15 1Q16 2Q16 3Q16

Orders ($ millions) 4Q14 1Q15 2Q15 3Q15 4Q15 1Q16 2Q16 3Q16

$ 421 $ 288 $ 198 $ 192 $ 171 $ 141 $ 128 $ 145 %

chan

ge

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Positioning for the Upturn

• Completions consumable products & activity-based equipment

• Develop new products

• Expand commercial presence

• High incremental margins in a recovery

• Improve operational efficiency

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New Products

• Reduces install time by 60% • 97% less connections/mile • Reduces risks to HSE • Advanced coating system • Used onshore and offshore

7,500 psi Mud Pump Fluid End Frac Manifold Trailer Coiled Tubing Pipeline

• Increases flow rates for horizontal drilling & longer laterals

• Proven P-Quip HP LRS technology • Reduces drilling downtime • Reduces component change out

time by 75% • Reduces risks to HSE

• Well head on a trailer • Simplifies manufacturing, assembly,

operations and service • Faster & safer field set-up • New XD end connection eliminates

premature failure on high pressure branch connections

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P-Quip 7,500psi Mud Pump Fluid End Module

Pulsation Dampener

Valve Cover Assemblies Quick Change shown PQuip available

Suction Manifold

Fluid End Modules Discharge and Suction

Discharge Cross

Discharge Manifold

HP Rod System

HP Liner Retention System

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Leading the Market Change ~ Globally

• Forum has supplied > 100 NAM rig upgrades since 2015

• Expect to provide > 200 additional NAM rigs upgrades by 2020

• Proven technology of P-Quip high performance liner retention system

• Single source solution and comprehensive package offering

• Reduced total cost of ownership • Reduced HSE risks

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Improve Operational Efficiency

• Manufacturing excellence • Plant consolidations - Centers of excellence • On time delivery & shorten lead times • Lower cost base

• Supply chain

• Supplier rationalization • Sourcing technology – e-sourcing • Significant procurement savings

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Quality and Lean Initiatives

• Quality Management Systems • Industry certifications (API/ISO/ASME) • Customer audits • Improved safety performance

• Lean Techniques • Labor and material savings • Work flow savings • Inventory reductions

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Operational Cost Improvements

• COGS savings - $125 million per year • 25% reduction in manufacturing global footprint • Procurement savings of 15 -18% from 2014 • 50% consolidation of NA service centers

• SG&A savings - $94 million per year • Controllable cost reduction • Corporate cost down 40% from 2014

• Personnel base – 50% • Capital expenditures savings - $20 million

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Summary Large Cap Capabilities, Small Cap Opportunities

• NAM land focused product manufacturer • Strong financial position and liquidity • Free cash flow generation for enhanced shareholder value

• New product development • Focused and disciplined M&A

• Balanced and diverse portfolio mix • Preserving capability

• Cost reductions and operational efficiency • Scalable operations • Low CAPEX requirements

QUESTIONS?

Confidential 18

Business Drivers Subsea Activity

15% Rig Count

30% Well Count and Well Construction

40%

Drilling & Subsea Contractors Oilfield Service Companies E&P Operators E&P, Midstream, & Downstream Operators

Drilling & Subsea Well Construction & Completion

Stimulation & Intervention Production & Infrastructure

Key Customers

Markets & Customers Full Well Cycle Exposure

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Focused Acquisition Strategy

Global oilfield, manufactured products

Leveraged to attractive secular growth trends

Strong brand and market position

Activity-based, consumable products

High Growth

International Expansion

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Sources of Revenue As a percent of 2015 sales

Subsea 17%

Drilling 28%

Completions 25%

Production 14%

Infrastructure 16%

Geography

Well Cycle

Consumable Products

50%

Other 2%

Capital Equipment

34%

Activity-based

Equipment 14%

Onshore 77%

Offshore 23%

Purchase Cycle

Onshore / Offshore

United States 60%

Europe Africa 18%

Asia Pacific

6%

Middle East 6%

Latin America

5%

Canada 5%

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Drilling Technologies Drilling & Subsea Segment

P-Quip™ mud pump liner retention system AMC™ torque machines Offline Activity Crane

Merrimac Mud Pump Fluid End

Coiled Tubing BOP

XL Backsaver

1,000 ton hydraulic elevator

125 ton air spider

Casing slip Drill pipe float

valve

Mousehole tool

Blohm + Voss Oil Tools FLOORHAND™

Wrangler™ Catwalk

Drilling Consumable Product Suite Mission Critical Drilling Capital Equipment

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Subsea Technologies Drilling and Subsea Segment

PIG launchers

Trenchers

ROV Components

Tether Management

Systems

Largest range of ROVs in industry Perry™ and Sub-Atlantic™ brands

VMax™ Simulation Systems

Hot Stabs

LARS

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Davis-Lynch™ Casing & Cementing Technology

Downhole Technologies Completions Segment

Downhole Completion Tools Cannon™ Protection Systems

Wireline Composite Frac Plugs

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Stimulation & Intervention Completions Segment

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Production Equipment Production & Infrastructure Segment

Modular Systems

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Valve Solutions Production & Infrastructure Segment

Two piece trunnion valves for the shale markets

Specified ball valve of choice for the US Strategic Petroleum Reserve

Preferred valve supplier to leading Canadian oil sands producers

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Reconciliation of Non-GAAP Measures (Unaudited)

($ millions)

2015 2014 2013 2012 2011 2010 2009

Free cash flow, before acquisitions

Net income $ (119) $ 174 $ 129 $ 152 $ 94 $ 24 $ 19

Depreciation and amortization 66 65 61 52 41 33 38 Goodwill & intangible asset impairment 125

Other, primarily working capital 82 31 21 (66) (96) 9 51

Net cash provided by operations $ 154 $ 270 $ 211 $ 138 $ 39 $ 66 $ 108

Capital expenditures (31) (54) (60) (50) (41) (20) (15)

Other 2 3 1 12 1 1 6

Free cash flow, before acquisitions $ 125 $ 219 $ 152 $ 100 $ (1) $ 47 $ 99

Note: The Company believes free cash flow, before acquisitions is an important measure because it encompasses both profitability and capital management in evaluating results.