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We explore atoms, so others can explore space Investor Day 2025 1 Investor Day 2025Index Our growth strategy to 2030 Opportunities and growth through technology inflections Service innovation and automation The art of atomic layering Delivering long-term value
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|Investor Day 2025 Table of contents 1 Eric Shero Vice President and ALD Key Product Unit Head Paul Verhagen CFO The art of atomic layering Investing for growth, delivering long-term value Page 85 Page 114 Hichem M’Saad CEO Vamsi Paruchuri Corporate VP, Technology Innovation and Market Research Enabling customers with Angstrom precision through service innovation and automation From layers to landscape: Opportunities and growth through technology inflections Atoms to action: Our growth strategy to 2030 Page 4 Page 44 Page 70 Jason Foster Corporate VP, Spares and Service Business Unit, Global Quality and Technical Training 2 Investor Day 2025Index Our growth strategy to 2030 Opportunities and growth through technology inflections Service innovation and automation The art of atomic layering Delivering long-term value
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|Investor Day 2025 Forward-looking statements Cautionary note regarding forward-looking statements 3 This presentation contains “forward-looking statements”. All verbal and written statements in ASM’s Investor Day 2025 presentations and Q&A, other than statements of historical fact, are forward-looking statements. Forward-looking statements involve risks and uncertainties that could cause actual results to differ materially from those in the forward- looking statements. These risks and uncertainties include, but are not limited to, economic conditions and trends in the semiconductor industry generally and the timing of the industry cycles specifically, product demand and semiconductor equipment industry capacity, worldwide demand and manufacturing capacity utilization for semiconductors, currency fluctuations, corporate transactions, financing and liquidity matters, the success of restructurings, the timing of significant orders, market acceptance of new products, competitive factors, litigation involving intellectual property, shareholders or other issues, commercial and economic slowdown or disruption including due to natural disasters, terrorist activity, armed conflict or political instability, changes in laws including import/export regulations, changes in tax and exchange rates, epidemics, pandemics and other risks indicated in ASM’s reports and financial statements. Investors are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this presentation. ASM assumes no obligation nor intends to update or revise any forward-looking statements to reflect future developments or circumstances. Forward-looking statements are not guarantees of future performance, and actual results, developments and business decisions may differ materially from those envisaged by forward-looking statements. 3 Investor Day 2025Index Our growth strategy to 2030 Opportunities and growth through technology inflections Service innovation and automation The art of atomic layering Delivering long-term value
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ASM Investor Day 2025 Atoms to action: Our growth strategy to 2030 Hichem M’Saad CEO 4 Investor Day 2025Index Our growth strategy to 2030 Opportunities and growth through technology inflections Service innovation and automation The art of atomic layering Delivering long-term value
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|Investor Day 2025 | Key takeaways 5 1 Past strategic objectives ASM delivered on its strategic objectives. Outgrew WFE market. Maintained and expanded ALD and Epi share in transition from FinFET to GAA. Grew spares and services business. 2 ALD product portfolio Many new ALD products, including clustered multi-process applications like area selective deposition (ASD), are in production at the 2nm GAA node. 3 Upcoming technology inflections Well positioned in ALD and Epi for upcoming technology inflections in GAA (2nd/3rd Gen & CFET) and DRAM (4F2 & 3D-DRAM). AI/ML common platform to accelerate innovation and ensure manufacturing excellence. 4 Advanced packaging Advanced packaging (AP) is another mid-term growth area. Applications in AP will benefit from chemistry innovation and interface engineering where ASM excels. 5 Scaling for growth Scaling the company through focus on talent development, product commonality, flexible manufacturing footprint, and upgraded ERP/PLM digital foundation for improved operational efficiency. 6 Sustainability fully integrated Sustainability fully integrated into our way of working leading to lower total cost of ownership (TCO) for our customers. 7 Target Targeting 2030 revenue > €5.7B, operating margin >30% with free cash flow > €1B. Note: All numbers presented throughout this presentation are adjusted numbers excluding purchase price allocation adjustment 5 Investor Day 2025Index Our growth strategy to 2030 Opportunities and growth through technology inflections Service innovation and automation The art of atomic layering Delivering long-term value
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From vision to value: Our journey since 2021 6 Investor Day 2025Index Our growth strategy to 2030 Opportunities and growth through technology inflections Service innovation and automation The art of atomic layering Delivering long-term value
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|Investor Day 2025 | Strategic objectives 4 5 6 2 3 Maintain leading ALD share in logic/foundry, expand in memory Increase Epi market share Grow selectively in vertical furnace and PECVD niches 1 Grow spares and services business Accelerate progress in sustainability Drive continued strong financial performance 7 2021/2023 7 Investor Day 2025Index Our growth strategy to 2030 Opportunities and growth through technology inflections Service innovation and automation The art of atomic layering Delivering long-term value
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|Investor Day 2025 | Maintain leading ALD share in logic/foundry and expand in memory 39% 54% >55% 20 18 20 20 20 24 20 16 20 17 20 18 20 19 20 20 20 21 20 22 20 23 20 24 ALD installed base (ALD reactors) ALD market share ALD market share increased to >55% in 2024 4 2 1 arbitrary units 1 8 Source: ASM internal analysis and TechInsights 8 Investor Day 2025Index Our growth strategy to 2030 Opportunities and growth through technology inflections Service innovation and automation The art of atomic layering Delivering long-term value
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|Investor Day 2025 | 12% 25% 2020 2024 Share of ASM layers in leading-edge logic/foundry Leading-edge Epi market share 14% 22% 33% 7nm 3nm 2nm Increase Epi market share2 Leading-edge Epi share increased to 25% in 2024 9 Source: ASM internal analysis 9 Investor Day 2025Index Our growth strategy to 2030 Opportunities and growth through technology inflections Service innovation and automation The art of atomic layering Delivering long-term value
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|Investor Day 2025 | Grow selectively in vertical furnace (VF) and PECVD niches New growth opportunities in PECVD No voids Good planarity PECVD flowable carbon Expanded VF position in power/wafer/analog VF sales driven by new products, and, in 2022/2023, by cyclical market upturn in power/wafer/analog 3 10 Lateral CD <5nm Source: ASM internal analysis 10 Investor Day 2025Index Our growth strategy to 2030 Opportunities and growth through technology inflections Service innovation and automation The art of atomic layering Delivering long-term value
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|Investor Day 2025 | Grow Spares and Services business 277 547 2020 2024 4 Spares and Services business revenue (€M) 19% CAGR service revenue growth from 2020 to 2024 through successful release of Outcome-based products 11 11 Investor Day 2025Index Our growth strategy to 2030 Opportunities and growth through technology inflections Service innovation and automation The art of atomic layering Delivering long-term value
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|Investor Day 2025 | 0 200 400 600 800 1,000 1,200 1,400 1,600 1,800 No refurb Wet clean Dry clean Grow Spares and Services business Tons CO2e Performance enhancement and sustainabilityCost reduction and sustainability Titanium process kits (500 kits example) 95% Reduction 85% Reduction 0 5 10 15 20 25 30 35 1 2 3 4 5 6 7 Bead Blast Textured Dry Textured Dirty Dry clean 4 12 67% Reduction 1) Arbitrary units Defects (a.u1.) Cumulative deposition (a.u1.) 12 Investor Day 2025Index Our growth strategy to 2030 Opportunities and growth through technology inflections Service innovation and automation The art of atomic layering Delivering long-term value
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|Investor Day 2025 | Accelerate progress in sustainability CDP Climate Change and Water Security A /A First time on A list Sustainalytics (Risk rating) Improved from 2024 7.6 (negligible risk) RE100 Best Newcomer Award 2024 TIME ASM featured in TIME’s global ranking TIME recognition world’s most sustainable companies 2025 5 Recognized leader in sustainability 13 Joined RE100 in 2023 13 Investor Day 2025Index Our growth strategy to 2030 Opportunities and growth through technology inflections Service innovation and automation The art of atomic layering Delivering long-term value
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|Investor Day 2025 | Drive continued strong financial performance 0 50 100 150 200 250 2020 2021 2022 2023 2024 WFE, indexed ASM sales, indexed CAGR+13% CAGR+20% 6 14 Source: WFE market data: TechInsights March 2025 ASM equipment growth vs. WFE market growth (indexed to 2020) Operating profit and operating margin (€ M and %) 327 491 641 699 821 24.6% FY20 28.4% FY21 26.6% FY22 26.6% FY23 28.0% FY24 Operating profit Operating margin % 14 Investor Day 2025Index Our growth strategy to 2030 Opportunities and growth through technology inflections Service innovation and automation The art of atomic layering Delivering long-term value
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Ahead in every layer 15 Investor Day 2025Index Our growth strategy to 2030 Opportunities and growth through technology inflections Service innovation and automation The art of atomic layering Delivering long-term value
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|Investor Day 2025 | Strongest patent portfolio in ALD Competitive impact Portfolio size ASM Competitor B Competitor D Competitor C Competitor A 0 2 4 6 8 10 12 14 16 0 200 400 600 800 1,000 Continuing the rich history of chemistry and process innovation, with a long history in ALD 16 Source: LexisNexis® PatentSight® (November 2024), for more information, please visit https://www.lexisnexisip.com/resources/atomic -layer-deposition-thin-layers-are-a-big-thing/ 16 Investor Day 2025Index Our growth strategy to 2030 Opportunities and growth through technology inflections Service innovation and automation The art of atomic layering Delivering long-term value
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|Investor Day 2025 | Strong global footprint close to all customers 17 17 Investor Day 2025Index Our growth strategy to 2030 Opportunities and growth through technology inflections Service innovation and automation The art of atomic layering Delivering long-term value
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|Investor Day 2025 | Continued investment in manufacturing and innovation 18 Korea Dongtan 2 Grand opening Q4, 2025 Expanded manufacturing and innovation capabilities. Anchoring excellence through breakthroughs and new possibilities 18 Investor Day 2025Index Our growth strategy to 2030 Opportunities and growth through technology inflections Service innovation and automation The art of atomic layering Delivering long-term value
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|Investor Day 2025 | 19 19 Investor Day 2025Index Our growth strategy to 2030 Opportunities and growth through technology inflections Service innovation and automation The art of atomic layering Delivering long-term value
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|Investor Day 2025 | Add in new pic (klara deleted old) 20 20 20 Investor Day 2025Index Our growth strategy to 2030 Opportunities and growth through technology inflections Service innovation and automation The art of atomic layering Delivering long-term value
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|Investor Day 2025 | Bringing core research, technology development, design and engineering capabilities all under one roof US Scottsdale Opening Q1, 2027 Continued investment in Research & Development 21 21 Investor Day 2025Index Our growth strategy to 2030 Opportunities and growth through technology inflections Service innovation and automation The art of atomic layering Delivering long-term value
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|Investor Day 2025 | 22 22 Investor Day 2025Index Our growth strategy to 2030 Opportunities and growth through technology inflections Service innovation and automation The art of atomic layering Delivering long-term value
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|Investor Day 2025 | 23 23 Investor Day 2025Index Our growth strategy to 2030 Opportunities and growth through technology inflections Service innovation and automation The art of atomic layering Delivering long-term value
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|Investor Day 2025 | Extending our flagship XP8 platform to advanced ALD and CVD applications XP8E® common platform allows the integration of processes like surface cleans and modification, selective etch, treatments etc to enable advanced ALD and CVD applications XP8® 24 XP8E® XP8E® 24 Investor Day 2025Index Our growth strategy to 2030 Opportunities and growth through technology inflections Service innovation and automation The art of atomic layering Delivering long-term value
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|Investor Day 2025 Clean/Trim H+ Al2O3 deposition Al2O3 deposition Inhibitor Clean/Trim H+ Area selective deposition: Dielectric on dielectric XP8E® Incoming wafer Inhibitor 25 Metal Dielectric 25 Investor Day 2025Index Our growth strategy to 2030 Opportunities and growth through technology inflections Service innovation and automation The art of atomic layering Delivering long-term value
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|Investor Day 2025 XP8E® Clean/Trim H+ Al2O3 deposition Inhibitor Al2O3 deposition Inhibitor Clean/Trim H+ Surface clean Area selective deposition: Dielectric on dielectric 26 26 Investor Day 2025Index Our growth strategy to 2030 Opportunities and growth through technology inflections Service innovation and automation The art of atomic layering Delivering long-term value
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|Investor Day 2025 XP8E® Clean/Trim H+ Al2O3 deposition Al2O3 deposition Inhibitor Clean/Trim H+ Selective deposition of ALD inhibition layer Inhibitor Area selective deposition: Dielectric on dielectric 27 27 Investor Day 2025Index Our growth strategy to 2030 Opportunities and growth through technology inflections Service innovation and automation The art of atomic layering Delivering long-term value
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|Investor Day 2025 Clean/Trim H+ Al2O3 deposition Inhibitor Al2O3 deposition Inhibitor Clean/Trim H+ Trim Area selective deposition: Dielectric on dielectric 28 XP8E® 28 Investor Day 2025Index Our growth strategy to 2030 Opportunities and growth through technology inflections Service innovation and automation The art of atomic layering Delivering long-term value
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|Investor Day 2025 Clean/Trim H+ Al2O3 deposition Inhibitor Al2O3 deposition Inhibitor Clean/Trim H+ Al2O3 deposition Area selective deposition: Dielectric on dielectric 29 XP8E® 29 Investor Day 2025Index Our growth strategy to 2030 Opportunities and growth through technology inflections Service innovation and automation The art of atomic layering Delivering long-term value
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|Investor Day 2025 § Clean/Trim H+ Al2O3 deposition Inhibitor Al2O3 deposition Inhibitor Clean/Trim H+ Area selective deposition: Dielectric on dielectric 30 Remove inhibition layer XP8E® 30 Investor Day 2025Index Our growth strategy to 2030 Opportunities and growth through technology inflections Service innovation and automation The art of atomic layering Delivering long-term value
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|Investor Day 2025 | AI/ML in HVM: Anomaly detection provides insight into process performance 31 Ability to detect subtle changes in sensors Real-time anomaly detection monitoring Identify top 5 contributors to an anomaly 31 Investor Day 2025Index Our growth strategy to 2030 Opportunities and growth through technology inflections Service innovation and automation The art of atomic layering Delivering long-term value
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|Investor Day 2025 | Strategic long-term partnerships with leading universities and research institutions 32|Investor Day 2025 32 Investor Day 2025Index Our growth strategy to 2030 Opportunities and growth through technology inflections Service innovation and automation The art of atomic layering Delivering long-term value
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|Investor Day 2025 | Winning customer trust in HVM Customer awards Best Vendor Excellent Supplier Award 2024 Intel EPIC Outstanding Award 2024 Best Supplier Award 2024 Safety & Health Platinum Award 2024 Outstanding Collaboration 2024 33|Investor Day 2025 33 Investor Day 2025Index Our growth strategy to 2030 Opportunities and growth through technology inflections Service innovation and automation The art of atomic layering Delivering long-term value
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Scaling the future: ASM’s 2030 technology trajectory 34 Investor Day 2025Index Our growth strategy to 2030 Opportunities and growth through technology inflections Service innovation and automation The art of atomic layering Delivering long-term value
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|Investor Day 2025 | Market Looking forward to 2030 3D scaling Device scaling and DTCO Channel Epi, dipoles for multi-Vt, new metal interconnects, contacts, and DTCO (backside power, MIMCAP) becoming key drivers A key enabler and growth opportunity Advanced packaging Driven by high-performance computing and memory for AI 3D vertical scaling in logic (GAA in 2025, CFET in 2031) and DRAM (4F2 in 2028 and 3D-DRAM in 2032+) 35 35 Investor Day 2025Index Our growth strategy to 2030 Opportunities and growth through technology inflections Service innovation and automation The art of atomic layering Delivering long-term value
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|Investor Day 2025 | Evolving technology landscape providing new growth areas 45% 25% 15% 10% 5% HPC/AI Smartphone Automotive IoT Others 36 Source: TSMC North America Technology Symposium – April, 2025 >70% of US$1 trillion semiconductor market in 2030 driven by leading-edge logic and memory technologies 36 Investor Day 2025Index Our growth strategy to 2030 Opportunities and growth through technology inflections Service innovation and automation The art of atomic layering Delivering long-term value
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|Investor Day 2025 | Evolving technology landscape providing new growth areas 37 GAA 1st Gen 2nm 2025 GAA 3rd Gen 1.0nm 2029 GAA 2nd Gen 1.4nm 2027 CFET 0.7nm 2031 MIMCAP MIMCAPBSPD GAA NMOS PMOS 37 Investor Day 2025Index Our growth strategy to 2030 Opportunities and growth through technology inflections Service innovation and automation The art of atomic layering Delivering long-term value
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|Investor Day 2025 | Leading position in transistor (FEOL) ASM internal emulation of GAA structure with backside power Transistor • High-K gate dielectric • Dipoles • Work function metals • Patterning materials • Dielectric gapfill Contacts • ALD silicides • ASD • PVD/CVD to ALD metal gapfill BEOL Backside power: • Liners • ALD metal gapfill 38 We’re in the heart of every device 38 Investor Day 2025Index Our growth strategy to 2030 Opportunities and growth through technology inflections Service innovation and automation The art of atomic layering Delivering long-term value
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|Investor Day 2025 | FEOL: highest number of ALD layers and growth 39 SW ALD layer count by node 3nm FinFET 2nm GAA 1.4nm GAA Mix of ALD layers 2nm GAA 1.4nm GAA FEOL MOL/ BEOL/BS 50% 60% We’re in the heart of every device 39 Investor Day 2025Index Our growth strategy to 2030 Opportunities and growth through technology inflections Service innovation and automation The art of atomic layering Delivering long-term value
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|Investor Day 2025 | Double our SAM to >30% of the TAM by 2030 Advanced packaging (AP): Convergence of FE and BE processing 40 ECP PVD CMPEtch Litho Cleans W2W bonder D2W bonder Surface prep ALD CVD 18% 22% 7%12% 7% 6% 7% 6% 3% 3% 9% AP total available market (TAM) 2030 (US$11.5B) 2025 2026 2027 2028 2029 2030 11.5 5.6 AP WFE market (US$B) CAGR >15% Source: Techinsights and ASM analysis 40 Investor Day 2025Index Our growth strategy to 2030 Opportunities and growth through technology inflections Service innovation and automation The art of atomic layering Delivering long-term value
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Leading ahead to what’s next: The road to 2030 41 Investor Day 2025Index Our growth strategy to 2030 Opportunities and growth through technology inflections Service innovation and automation The art of atomic layering Delivering long-term value
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|Investor Day 2025 | Growth through Innovation strategy for the next 5 years AI/ML enabled common platform coupled with novel chemistries to accelerate innovation and ensure manufacturing excellence Maintain leading share in ALD for logic/foundry and grow share in DRAM/HBM memory How? 1 Targeting revenue >€5.7B and operating margin >30% by 2030 Drive operational excellence, flexible footprint and strong financial performance How? 6 Grow organically in PECVD, ALD and surface prep, leveraging our strength in chemistry innovation and surface engineering Grow applications in advanced packaging market How? 3 Innovate in environmentally friendly solutions while delivering greater performance and value to our customers Grow high value Outcome-based services How? 4 Focusing on chemical effectiveness and reduced precursor consumption Accelerate progress in sustainability How? 5 Capture new Epi inflections in logic/foundry and DRAM Continue to grow in Epi How? 2 42 Strategic objectives 42 Investor Day 2025Index Our growth strategy to 2030 Opportunities and growth through technology inflections Service innovation and automation The art of atomic layering Delivering long-term value
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|Investor Day 2025 | Key takeaways 43 1 Past strategic objectives ASM delivered on its strategic objectives. Outgrew WFE market. Maintained and expanded ALD and Epi share in transition from FinFET to GAA. Grew spares and services business. 2 ALD product portfolio Many new ALD products, including clustered multi-process applications like area selective deposition (ASD), are in production at the 2nm GAA node. 3 Upcoming technology inflections Well positioned in ALD and Epi for upcoming technology inflections in GAA (2nd/3rd Gen & CFET) and DRAM (4F2 & 3D-DRAM). AI/ML common platform to accelerate innovation and ensure manufacturing excellence. 4 Advanced packaging Advanced packaging (AP) is another mid-term growth area. Applications in AP will benefit from chemistry innovation and interface engineering where ASM excels. 5 Scaling for growth Scaling the company through focus on talent development, product commonality, flexible manufacturing footprint, and upgraded ERP/PLM digital foundation for improved operational efficiency. 6 Sustainability fully integrated Sustainability fully integrated into our way of working leading to lower total cost of ownership (TCO) for our customers. 7 Target Targeting 2030 revenue > €5.7B, operating margin >30% with free cash flow > €1B. Note: All numbers presented throughout this presentation are adjusted numbers excluding purchase price allocation adjustment 43 Investor Day 2025Index Our growth strategy to 2030 Opportunities and growth through technology inflections Service innovation and automation The art of atomic layering Delivering long-term value
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ASM Investor Day 2025 From layers to landscape: Opportunities and growth through technology inflections Vamsi Paruchuri Corporate VP, Technology Innovation and Market Research 44 Investor Day 2025Index Our growth strategy to 2030 Opportunities and growth through technology inflections Service innovation and automation The art of atomic layering Delivering long-term value
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|Investor Day 2025 | 1 Secular growth trends Secular growth trends are intact for US$1T semiconductor market by 2030 mainly driven by AI and related leading-edge logic and DRAM technologies. 2 Technology scaling increasingly enabled by materials and vertical structures Logic and DRAM technology scaling is increasingly dependent on materials and adoption of more complex 3D structures, necessitating more ALD and Epi processes. 3 ALD is expected to outgrow the WFE market The market for ALD is expected to outgrow the WFE market, to a range of US$5.1-6.1 billion by 20301 reflecting a CAGR of 9% to 13%. 4 The Si Epi market is expected to grow The Si Epi market is expected to grow to a range of US$2.5-3.2 billion by 20301 reflecting a CAGR of 9% to 13%. 5 ASM benefits from significant SAM increase in GAA 2nd gen and with upcoming DRAM inflections ASM remains well-positioned to benefit from significant ALD & Epi SAM increases: • US$450M - 500M nodal SAM increase from GAA 2nm to GAA 1.4nm in logic/foundry • US$400M - 450M nodal SAM increase with DRAM cell transition from 6F2 to 4F2 and CMOS peri transition from planar to FinFET 6 Advanced packaging provides additional growth Advanced packaging (AP) is another mid-term growth area. Applications in AP will benefit from chemistry innovation and interface engineering where ASM excels. Key takeaways 45 1) 2030 wafer fab equipment (WFE) investments at US$155B 45 Investor Day 2025Index Our growth strategy to 2030 Opportunities and growth through technology inflections Service innovation and automation The art of atomic layering Delivering long-term value
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Industry, market, and technology outlook 46 Investor Day 2025Index Our growth strategy to 2030 Opportunities and growth through technology inflections Service innovation and automation The art of atomic layering Delivering long-term value
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|Investor Day 2025 47 47 Investor Day 2025Index Our growth strategy to 2030 Opportunities and growth through technology inflections Service innovation and automation The art of atomic layering Delivering long-term value
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|Investor Day 2025 | US$1 trillion semiconductor market predominantly driven by leading-edge technology nodes 45% 25% 15% 10% 5% HPC/AI Smartphone Automotive IoT Others 48 Source: TSMC North America Technology Symposium – April, 2025 >70% of US$1 trillion semiconductor market in 2030 driven by leading-edge logic and memory technologies 48 Investor Day 2025Index Our growth strategy to 2030 Opportunities and growth through technology inflections Service innovation and automation The art of atomic layering Delivering long-term value
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|Investor Day 2025 Logic technology roadmap 2010 2015 2020 2025 2030 2035 FinFET Fin field-effect transistor GAA Gate-all- around 22nm FinFET 16nm FinFET 14nm FinFET 10nm 7nm EUV 32/28nm HK/MG 5nm FinFET 3nm FinFET / GAA 1.4nm GAA 1nm GAA 2nm GAA 0.7nm CFET CFET Complementary FET Design rule 49 Source: Compilation from several public sources 49 Investor Day 2025Index Our growth strategy to 2030 Opportunities and growth through technology inflections Service innovation and automation The art of atomic layering Delivering long-term value
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|Investor Day 2025 DRAM technology roadmap Bit Density/Wafer 2020 6F2 2022 2023 2025 2026 2032 20342028 2029 2031 4F2 16nm 14nm 12.8nm 11.2nm 10.2nm 9nm 128L 176L 220L 3D-DRAM 11nm 10nm 9nm 50 Source: Compilation from several public sources 50 Investor Day 2025Index Our growth strategy to 2030 Opportunities and growth through technology inflections Service innovation and automation The art of atomic layering Delivering long-term value
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|Investor Day 2025 WFE growth driven by leading-edge logic/foundry and DRAM 51 WFE by segment (US$ billion) 2022 2023 2024 2025 2026 2027 2028 2029 Logic/foundry DRAM Other NAND • Growth largely in leading-edge logic/foundry and DRAM • China investments assumed to gradually normalize to around <20% of total WFE WFE Outlook (US$ billion) 0 20 40 60 80 100 120 140 160 180 2022 2023 2024 2025 2026 2027 2028 2029 2030 TechInsights (June 2025) Gartner (July 2025) ASM estimates 155 • WFE market ’24-’30 CAGR: ~6% Source: TechInsights 51 Investor Day 2025Index Our growth strategy to 2030 Opportunities and growth through technology inflections Service innovation and automation The art of atomic layering Delivering long-term value
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|Investor Day 2025 Maintained leading market share in ALD and increased share in leading-edge Epi Single-wafer ALD market share 39% 54% >55% 2018 2020 2024 Leading-edge Epi market share 12% 25% 2020 2024 ALD market: We grew our total ALD market share to >55% in 2024 We maintained our leading ALD market share in transition from FinFET to GAA Epi market: We grew leading-edge Epi market share from 12% in 2020 to 25% in 2024, capturing all GAA channel layers 52 Source: ASM internal analysis and TechInsights 52 Investor Day 2025Index Our growth strategy to 2030 Opportunities and growth through technology inflections Service innovation and automation The art of atomic layering Delivering long-term value
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Technology inflections driving single-wafer ALD and Epi markets 53 Investor Day 2025Index Our growth strategy to 2030 Opportunities and growth through technology inflections Service innovation and automation The art of atomic layering Delivering long-term value
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|Investor Day 2025 Single-wafer ALD market forecasted to outgrow WFE 54 Single-wafer ALD market outlook (US$ billion) 2024 2030 5.1 6.1 3.0 Single-wafer ALD market: SW ALD market ’24-’30 CAGR: 9-13% WFE CAGR: 6% (2024: US$110B, 2030: US$155B) Maintain market share > 55% - Maintain leading market share in logic/foundry - Gain share in memory 2030 outlook: Increased number of layers in leading-edge logic/foundry and additional complexity Increased number of layers in leading-edge DRAM, both in cell and CMOS peri Growth drivers: Source: Historical market data: ASM | Future market data: ASM 54 Investor Day 2025Index Our growth strategy to 2030 Opportunities and growth through technology inflections Service innovation and automation The art of atomic layering Delivering long-term value
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|Investor Day 2025 Epi market forecasted to outgrow WFE 2024 2030 2.5 3.2 1.5 Source: Historical market data: ASM | Future market data: ASM 55 Epi market outlook (US$ billion) Epi market: Epi market ’24-’30 CAGR: 9%-13% WFE CAGR: 6% (2024: US$110B, 2030: US$155B) Further expand leading-edge market share 2030 outlook: New Epi applications in next generations GAA and additional complexity Increased number of layers in leading-edge DRAM transition from 6F2 to 4F2 and in CMOS peri Growth drivers: 55 Investor Day 2025Index Our growth strategy to 2030 Opportunities and growth through technology inflections Service innovation and automation The art of atomic layering Delivering long-term value
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Continued growth in leading-edge logic/foundry 56 Investor Day 2025Index Our growth strategy to 2030 Opportunities and growth through technology inflections Service innovation and automation The art of atomic layering Delivering long-term value
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|Investor Day 2025 From FinFET to GAA 2nm, our ALD and Epi nodal SAM increased by US$ 400M +US$400M 2023 Investor Day: Combined ALD and Epi SAM increase from FinFET to GAA US$ 400million per 100k WSPM With 2nm GAA ramping in HVM, we confirm that nodal SAM increase is within range of our 2023 forecast And we at least maintained share in ALD and gained share in Epi through this transition FinFET 3nm to GAA 2nm Source: Historical market data: ASM | Future market data: ASM 57 57 Investor Day 2025Index Our growth strategy to 2030 Opportunities and growth through technology inflections Service innovation and automation The art of atomic layering Delivering long-term value
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|Investor Day 2025 Significant increase in ALD and Epi SAM with move from GAA 2nm to 1.4nm Increased SAM for ASM by US$ 450M to US$ 500M per 100k wafer starts per month Higher number of ALD and Epi layers and increased complexity Wafer frontside : • Advanced High-k • Additional dipoles for multi-Vt • Work function metals • Patterning materials • Area selective deposition – DoD, DoM • ALD Molybdenum • Channel Epi • Source/drain and contact Epi • Dielectric gapfills Wafer backside: • Low temp Epi • Dielectric liners • ALD Molybdenum +US$ 400M +US$ 450-500M GAA 2nm to 1.4nmFinFET 3nm to GAA 2nm Source: Historical market data: ASM | Future market data: ASM 58 58 Investor Day 2025Index Our growth strategy to 2030 Opportunities and growth through technology inflections Service innovation and automation The art of atomic layering Delivering long-term value
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|Investor Day 2025 GAA 2nm to GAA 1.4nm GAA 2nm to 1.4nm Increased, more complex, or new layers: Wafer frontside : § High(er)-k § Dipoles for multi-Vt § Work function metals § Patterning materials § Area selective deposition – DoD, DoM § ALD Molybdenum § Channel Epi § Source/drain and contact Epi § Dielectric gapfills Wafer backside: § Low temp Epi § Dielectric liners § ALD Molybdenum GAA 1.4nm BEOL MOL FEOL BS-MOL BS-PDN MIM Cap GAA 2nm FEOL MOL BEOL MIM Cap 59 59 Investor Day 2025Index Our growth strategy to 2030 Opportunities and growth through technology inflections Service innovation and automation The art of atomic layering Delivering long-term value
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|Investor Day 2025 FEOL ALD layers1 see largest growth in transition from GAA 2nm to 1.4nm SW ALD layer count by node 3nm FinFET 2nm GAA 1.4nm GAA Mix of ALD layers 2nm GAA 1.4nm GAA FEOL MOL/ BEOL/BS From GAA 2nm to 1.4nm With GAA device architecture remaining similar, performance and DTCO elements drive scaling The number of layers in FEOL around transistor continues to increase more than in MOL and BEOL FEOL layers account for 60% of the total number of ALD layers in 1.4nm GAA 50% 60% 1) Weighted average of multiple customers 60 60 Investor Day 2025Index Our growth strategy to 2030 Opportunities and growth through technology inflections Service innovation and automation The art of atomic layering Delivering long-term value
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|Investor Day 2025 Continued growth in ALD and Epi with transition to CFET devices GAA 1st Gen 2nm 2025 GAA 3rd Gen 1.0nm 2029 GAA 2nd Gen 1.4nm 2027 CFET 0.7nm 2031 61 61 Investor Day 2025Index Our growth strategy to 2030 Opportunities and growth through technology inflections Service innovation and automation The art of atomic layering Delivering long-term value
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Accelerated opportunities in leading-edge DRAM 62 Investor Day 2025Index Our growth strategy to 2030 Opportunities and growth through technology inflections Service innovation and automation The art of atomic layering Delivering long-term value
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|Investor Day 2025 DRAM inflections: 6F2 to 4F2 cell 6F2 Significant increase in ALD and Epi intensity with DRAM cell transition from 6F2 to 4F2 • Channel Epi • Contact Epi • Low temp. ALD oxides and nitrides • ALD dielectric gapfill • Back gate and front gate metals 4F2 63 63 Investor Day 2025Index Our growth strategy to 2030 Opportunities and growth through technology inflections Service innovation and automation The art of atomic layering Delivering long-term value
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|Investor Day 2025 DRAM inflections: CMOS peri from planar to FinFET Planar CMOS FinFET CMOS Significant increase in ALD and Epi intensity with peri transitioning from planar CMOS to FinFET CMOS peri • ALD High-k • ALD dipoles • ALD work function metals • ALD patterning materials and spacers • Epi source/drain 64 64 Investor Day 2025Index Our growth strategy to 2030 Opportunities and growth through technology inflections Service innovation and automation The art of atomic layering Delivering long-term value
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|Investor Day 2025 Increasing DRAM SAM with 4F2 and with CMOS peri transitioning from planar to FinFET 6F2 with planar CMOS peri (D1d) 4F2 with FinFET CMOS peri (D0b) Higher number of ALD and Epi layers and increased complexity DRAM cell transition from 6F2 to 4F2: • Channel Epi • Contact Epi • New ALD oxides and nitrides • Dielectric gapfills • Back gate and front gate Planar CMOS to FinFET CMOS peri: • ALD High-k • ALD dipoles • ALD work function metals • ALD patterning materials and spacers • Epi source/drain Early adoption expected to begin with D0a node and complete adoption by all leading-edge DRAM makers by D0b node ASM ALD and Epi SAM expansion for 100k WSPM (US$ million) +400-450M Source: ASM internal market data, figure not to scale 65 65 Investor Day 2025Index Our growth strategy to 2030 Opportunities and growth through technology inflections Service innovation and automation The art of atomic layering Delivering long-term value
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|Investor Day 2025 Continued growth in ALD and Epi with transition to 3D-DRAM beyond 2032 3D-DRAM 4F2 6F2 66 66 Investor Day 2025Index Our growth strategy to 2030 Opportunities and growth through technology inflections Service innovation and automation The art of atomic layering Delivering long-term value
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Advanced packaging 67 Investor Day 2025Index Our growth strategy to 2030 Opportunities and growth through technology inflections Service innovation and automation The art of atomic layering Delivering long-term value
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|Investor Day 2025 | AP applications example: SoIC (System on IC) Advanced packaging (AP): Another mid-term growth area 68 ECP PVD CMPEtch Litho Cleans W2W bonder D2W bonder Surface prep ALD CVD 18% 22% 7%12% 7% 6% 7% 6% 3% 3% 9% AP total available market (TAM) 2030 (US$11.5B) Silicon Carrier-2 ~16um TDV TSVTSV BPM BPM ~16um Carrier-1 Bonding layers for fusion bonding Face (passivation) Bonding layers for hybrid bonding Die-gap fill Die edge fill TSV liner Double our SAM to >30% of the TAM by 2030 68 Investor Day 2025Index Our growth strategy to 2030 Opportunities and growth through technology inflections Service innovation and automation The art of atomic layering Delivering long-term value
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|Investor Day 2025 | 1 Secular growth trends Secular growth trends are intact for US$1T semiconductor market by 2030 mainly driven by AI and related leading-edge logic and DRAM technologies. 2 Technology scaling increasingly enabled by materials and vertical structures Logic and DRAM technology scaling is increasingly dependent on materials and adoption of more complex 3D structures, necessitating more ALD and Epi processes. 3 ALD is expected to outgrow the WFE market The market for ALD is expected to outgrow the WFE market, to a range of US$5.1-6.1 billion by 20301 reflecting a CAGR of 9% to 13%. 4 The Si Epi market is expected to grow The Si Epi market is expected to grow to a range of US$2.5-3.2 billion by 20301 reflecting a CAGR of 9% to 13%. 5 ASM benefits from significant SAM increase in GAA 2nd gen and with upcoming DRAM inflections ASM remains well-positioned to benefit from significant ALD & Epi SAM increases: • US$450M - 500M nodal SAM increase from GAA 2nm to GAA 1.4nm in logic/foundry • US$400M - 450M nodal SAM increase with DRAM cell transition from 6F2 to 4F2 and CMOS peri transition from planar to FinFET 6 Advanced packaging provides additional growth Advanced packaging (AP) is another mid-term growth area. Applications in AP will benefit from chemistry innovation and interface engineering where ASM excels. Key takeaways 69 1) 2030 wafer fab equipment (WFE) investments at US$155B 69 Investor Day 2025Index Our growth strategy to 2030 Opportunities and growth through technology inflections Service innovation and automation The art of atomic layering Delivering long-term value
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ASM Investor Day 2025 Enabling customers with Angstrom precision through service innovation and automation Jason Foster Corporate VP, Spares and Service Business Unit, Global Quality and Technical Training 70 Investor Day 2025Index Our growth strategy to 2030 Opportunities and growth through technology inflections Service innovation and automation The art of atomic layering Delivering long-term value
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|Investor Day 2025 | Key takeaways 71 1 Innovation Innovation in our spares and service business has delivered Outcome-based solutions, creating measurable value for customers and drives growth. 2 Leverages our core competencies in chemistry Our core competencies in chemistry and surface engineering is being applied to spares and services products to deliver Outcome-based solutions. 3 Outcome-based services Delivers guaranteed performance such as tool availability and improved on wafer results through innovative environmentally friendly solutions. 4 New dry-cleaning Solutions New technology that enables 10x selectivity which extends the usable part lifetime while driving sustainable manufacturing solutions. 5 Automation To achieve Angstrom-level control in ALD and Epi requires micron-level control in part placement necessitating automation in maintenance. 71 Investor Day 2025Index Our growth strategy to 2030 Opportunities and growth through technology inflections Service innovation and automation The art of atomic layering Delivering long-term value
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|Investor Day 2025 72 Empowering our customers with innovative environmentally friendly solutions that deliver high tool availability and better performance 72 Investor Day 2025Index Our growth strategy to 2030 Opportunities and growth through technology inflections Service innovation and automation The art of atomic layering Delivering long-term value
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|Investor Day 2025 | Requires stringent demands on system hardware, with unprecedented precision in critical process kit components D i m e n s i o n s Critical process kits Continuous innovation in spares & services required for increased precision and complexity in next tech nodes Dry cleaning Transitioning from traditional wet cleaning and sand blasting of spare parts, our dry cleaning solutions deliver superior defectivity performance, improved selectivity, and extended part life, while enhancing sustainability Innovative service products GAA Gate-all-around Increasingly complex semiconductor processes such as 2nm GAA Process complexity Service automation Leveraging advanced automation, we address both green-to-green efficiency and chamber-to- chamber matching, achieving micron-level part placement precision that is required for angstrom level on wafer thickness control 73 73 Investor Day 2025Index Our growth strategy to 2030 Opportunities and growth through technology inflections Service innovation and automation The art of atomic layering Delivering long-term value
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|Investor Day 2025 | Spares and service: product portfolio 74 Transactional Foundation of support • Transactional spares (delivered on demand, available when needed) • Standard service labor Outcome-based Outcome-based results • Reduce, reuse and recycle • Guaranteed performance: Reduced variation, predictable output 74 Investor Day 2025Index Our growth strategy to 2030 Opportunities and growth through technology inflections Service innovation and automation The art of atomic layering Delivering long-term value
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Innovation in Outcome-based services 75 Investor Day 2025Index Our growth strategy to 2030 Opportunities and growth through technology inflections Service innovation and automation The art of atomic layering Delivering long-term value
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|Investor Day 2025 | Benefits of Outcome- based services: Improved on-wafer performance (fewer defects) Better availability (tool uptime) Improved sustainability (better parts that last longer) Lower cost of ownership by restoring used parts to “as new” conditions Spares and service value creation through surface technologies 76 Heater Wafer Early life Heater Wafer Mid-life Heater Wafer New parts Heater End of life Wafer Dry clean and dry surface modification returning part in “as new” condition ALD film deposits on the wafer and reactor parts, eventually leading to out of spec condition 0 2 4 6 8 10 12 Date Defect Performance UCL LCL Centerline Spec Limit Defect count | 76 Investor Day 2025Index Our growth strategy to 2030 Opportunities and growth through technology inflections Service innovation and automation The art of atomic layering Delivering long-term value
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|Investor Day 2025 | Outcomes-Based services: Minimizing part-to- part variability, preserves process integrity, and extends component lifetime New innovative surface technologies solutions 77| High selectivity cleans • Cleaner: dry cleaning • Selective: ALD barrier films • Enabling refurb and reuse Cleaning and coatings Dry cleaning ALD coatings Verify “as new” condition • First time right • Reduced green-to-green • Matched kits Quality control Adhesion and thermal control • Reduced green-to-green • Improved productivity Surface modification Adhesion control Thermal control 77 Investor Day 2025Index Our growth strategy to 2030 Opportunities and growth through technology inflections Service innovation and automation The art of atomic layering Delivering long-term value
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|Investor Day 2025 | Dry cleaning technologies offers significant business and sustainability benefits 78 Titanium process kits (500 kits example) Parameter Dry clean vs Wet clean Substrate selectivity 10x improvement Part lifetime 5x longer Critical dimension control 5x improvement Chemical usage No highly toxic/hazardous acids used Sustainability impact >95% reduction Business impact >2x reduction in Cost of Ownership | 0 200 400 600 800 1000 1200 1400 1600 1800 No refurb Wet clean Dry clean Tons CO2e 95% Reduction 85% Reduction Dirty Dry clean 67% Reduction Parts cleaning Wet etch is the standard today. Dry clean is a novel technology enabling sub-Angstrom precision that is critical to device performance and yield – in ALD Every Monolayer Matters 78 Investor Day 2025Index Our growth strategy to 2030 Opportunities and growth through technology inflections Service innovation and automation The art of atomic layering Delivering long-term value
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|Investor Day 2025 | Dry cleaning enables: Precision selectivity = extending usable part lifetime by maintaining part critical dimensions clean after clean Selectivity is becoming critical as we transition to more complicated ALD films. Moving away from single element to 4, 5 or even 6 element films Sustainable cleaning solution – no hazardous acids needed Dry cleaning: precision and sustainability 79 0 5 00 1, 00 0 1, 50 0 2, 00 0 0 5 10 Concentration (weight ppm) Approx. Depth (μm) Contamination (sodium ppm) Blast Blast + Clean Dry + Clean Dry Blast clean – ceramic media Considerable byproduct Dry clean – zero media Minimal byproduct Current cleaning method: Novel cleaning method: | 79 Investor Day 2025Index Our growth strategy to 2030 Opportunities and growth through technology inflections Service innovation and automation The art of atomic layering Delivering long-term value
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|Investor Day 2025 | How • Dry cleaning • HQ coatings • HS cleaning • Metrology Accelerating sustainability by reduce, reuse and recycle 80 • Parts • Byproduct • Chemicals • DI water • Blast media • Bulk materials • Parts • Scrap • Drop-off • Waste 80 Investor Day 2025Index Our growth strategy to 2030 Opportunities and growth through technology inflections Service innovation and automation The art of atomic layering Delivering long-term value
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|Investor Day 2025 | Achieving micron-level part placement precision that is required for sub-Angstrom level on wafer thickness control Automation in maintenance to manage micron-level part placement control 81 PM-Bot system integrates a closed-loop vision system and advanced robotics Automation in maintenance vs Manual operation Green-to-green 25% better First time right 50% reduction in errors Precision 100% better precision • Improved precision and repeatability needed for advanced technology nodes • Accelerating overall maintenance efficiency through improved green-to-green and better first-time-right performance 81 Investor Day 2025Index Our growth strategy to 2030 Opportunities and growth through technology inflections Service innovation and automation The art of atomic layering Delivering long-term value
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Spares and Services sales: growth driven by Outcome-based 82 Investor Day 2025Index Our growth strategy to 2030 Opportunities and growth through technology inflections Service innovation and automation The art of atomic layering Delivering long-term value
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|Investor Day 2025 | Targeting continued growth in spares & services: >12% CAGR 2024-2030 83 Spares and Services revenue (€ million) 2020 2021 2022 2023 2024 2030 CAGR >12% Transactional Outcome-based (including new solutions) Business growth drivers Continued growth of our installed base – higher share of Outcome-based services on new products >50% business coming from Outcome-based services by 2030 83 Investor Day 2025Index Our growth strategy to 2030 Opportunities and growth through technology inflections Service innovation and automation The art of atomic layering Delivering long-term value
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|Investor Day 2025 | Key takeaways 84 1 Innovation Innovation in our spares and service business has delivered Outcome-based solutions, creating measurable value for customers and drives growth. 2 Leverages our core competencies in chemistry Our core competencies in chemistry and surface engineering is being applied to spares and services products to deliver Outcome-based solutions. 3 Outcome-based services Delivers guaranteed performance such as tool availability and improved on wafer results through innovative environmentally friendly solutions. 4 New dry-cleaning Solutions New technology that enables 10x selectivity which extends the usable part lifetime while driving sustainable manufacturing solutions. 5 Automation To achieve Angstrom-level control in ALD and Epi requires micron-level control in part placement necessitating automation in maintenance. 84 Investor Day 2025Index Our growth strategy to 2030 Opportunities and growth through technology inflections Service innovation and automation The art of atomic layering Delivering long-term value
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ASM Investor Day 2025 The art of atomic layering Eric Shero Vice President and ALD Key Product Unit Head 85 Investor Day 2025Index Our growth strategy to 2030 Opportunities and growth through technology inflections Service innovation and automation The art of atomic layering Delivering long-term value
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|Investor Day 2025 | Key takeaways 86 1 Essential ALD is essential technology for advanced, 3D structures. 2 Growth Single-wafer ALD set to grow at 9-13% CAGR, outpacing WFE (6%) Leading logic/foundry inflections and expanding in memory. 3 Legacy Unparalleled legacy in ALD (50+ years). 4 Innovation ASM leads ALD market and continuously innovates to stay ahead of what’s next. 5 Clustering New common platform drives enhanced clustering & productivity: Couples surface clean and deposition solutions. 6 ALD+ ALD+ means advanced materials, chemical and technology solutions, tackling high value problems. 86 Investor Day 2025Index Our growth strategy to 2030 Opportunities and growth through technology inflections Service innovation and automation The art of atomic layering Delivering long-term value
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|Investor Day 2025 | Industry moving towards ASM’s ALD technology to solve scaling challenges Increasing device complexity • Increasing A/R (Aspect ratio) • Increasing SAE (Surface area enhancement) • Smaller CD (Critical dimension) • Narrowing process window • Tighter thickness uniformity • Tighter composition control • Tighter electrical specifications 3D scaling accelerating in logic and memory 87 DRAM 6F2 2004 4F2 2028 3D-DRAM 2032+ Logic FinFET 2012 GAA 2025 CFET 2031 Layers 3D-NAND 1xx 2015 2xx 2022 >4xx 2026 87 Investor Day 2025Index Our growth strategy to 2030 Opportunities and growth through technology inflections Service innovation and automation The art of atomic layering Delivering long-term value
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|Investor Day 2025 | ALD adoption increasing 88 ALD layers1 (#) Single-wafer ALD market outlook (US$ billion) 2024 2030 5.1 6.1 3.0 Single-wafer ALD market growth: SW ALD market ’24-’30 CAGR: 9-13% WFE CAGR: 6% (2024: US$110 billion, 2030: US$155 billion) iPhone 11 iPhone 12 iPhone 13 iPhone 15 > 50% Increase over 2 yrs 1) Data sourced from ASM i nternal analysi s and illustrative example only Increasing complexity in logic and memory boosts ALD demand 88 Investor Day 2025Index Our growth strategy to 2030 Opportunities and growth through technology inflections Service innovation and automation The art of atomic layering Delivering long-term value
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|Investor Day 2025 Key steps in ALD cycle 89 ALD is a surface-controlled, layer-by-layer process that deposits thin films one atomic layer at a time Start with a controlled surface 89 Investor Day 2025Index Our growth strategy to 2030 Opportunities and growth through technology inflections Service innovation and automation The art of atomic layering Delivering long-term value
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|Investor Day 2025 Key steps in ALD cycle 90 Expose substrate to first precursor “pulse” Precursor reacts with surface species and attaches Precursor By-products 90 Investor Day 2025Index Our growth strategy to 2030 Opportunities and growth through technology inflections Service innovation and automation The art of atomic layering Delivering long-term value
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|Investor Day 2025 Key steps in ALD cycle 91 Chamber purged to remove first precursor and by-products Purge 91 Investor Day 2025Index Our growth strategy to 2030 Opportunities and growth through technology inflections Service innovation and automation The art of atomic layering Delivering long-term value
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|Investor Day 2025 Key steps in ALD cycle 92 Expose substrate to second precursor (co-reactant) “pulse” to convert surface; often enhanced with plasma energy Co-reactants By-products 92 Investor Day 2025Index Our growth strategy to 2030 Opportunities and growth through technology inflections Service innovation and automation The art of atomic layering Delivering long-term value
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|Investor Day 2025 Key steps in ALD cycle 93 Chamber purged, completing first ALD layer Cycle repeated for each additional layer Purge 93 Investor Day 2025Index Our growth strategy to 2030 Opportunities and growth through technology inflections Service innovation and automation The art of atomic layering Delivering long-term value
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|Investor Day 2025 Key steps in ALD cycle 94 By repeating this process, precise layers of material are deposited in layers, even with uneven surfaces 94 Investor Day 2025Index Our growth strategy to 2030 Opportunities and growth through technology inflections Service innovation and automation The art of atomic layering Delivering long-term value
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|Investor Day 2025 | ALD’s precise, uniform and conformal coating makes it ideal for next -gen devices Atomic Layer Deposition (ALD) Cyclic layer-by-layer Sequential, self-limiting surface reactions Non-directional, conformal deposition Abated (layer-by-layer precision) Each layer stacked precisely for perfect control Chemical Vapor Deposition (CVD) Continuous chemical reaction Chemical reaction of gases Less directional than PVD Unabated (Continuous growth on surface) Frost: more coating on top than bottom Mechanism Directionality Film growth ALD geared for a 3D world 95 Physical Vapor Deposition (PVD) Physical transfer of material (sputtering) Highly directional: Line-of-sight Unabated (no surface reaction control) Travels straight and coats what it hits 95 Investor Day 2025Index Our growth strategy to 2030 Opportunities and growth through technology inflections Service innovation and automation The art of atomic layering Delivering long-term value
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|Investor Day 2025 | 5mm Uniformly coating entire city Δ thinner than human hair5mm ALD ALD Coating all Dubai with 5mm ALD film full of MANY Burj Khalifa ALD Coating Dubai with precision finer than human hair 96 Uniformity of ALD film across wafer and over high A/R structures ~ coating city packed with Burj Khalifa towers with a 5mm layer thickness with precision to within width of a human hair! Depositing 1nm ALD film uniformly across a 300 mm wafer over trillions of HAR features ALD Standard deviation (1 sigma) in thickness is less than the width of a human hair 96 Investor Day 2025Index Our growth strategy to 2030 Opportunities and growth through technology inflections Service innovation and automation The art of atomic layering Delivering long-term value
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In 3 years, device aspect ratio will exceed equivalent of stacking 50 Burj Khalifa towers vertically, reaching beyond stratosphere and coating with same precision 97 Investor Day 2025Index Our growth strategy to 2030 Opportunities and growth through technology inflections Service innovation and automation The art of atomic layering Delivering long-term value
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ASM is market leader in ALD 98 Investor Day 2025Index Our growth strategy to 2030 Opportunities and growth through technology inflections Service innovation and automation The art of atomic layering Delivering long-term value
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|Investor Day 2025 | ASM is market leader in ALD 99 Dr. Suntola invents ALD (ALE) 1974 Microchemistry (MC) founded in Helsinki (Neste) 1987 First 200mm Pulsar® released 1998 Acquisition of Reno Sub-Systems 2022 Semiconductor International – Pulsar ® "PoY" "Switch is On" launched at SEMICON 2008 ASM introduces Synergis ®, a dual chamber thermal ALD product 2018 ASM introduces XP8 ® quad chamber module 2019 ASM acquires MC from Neste 1999 50+ years driving innovation in ALD Acquired Sherman PEALD patents 2000 Genitech acquisition 2004 ASM introduces Prominis ® ALD and XP8E ® platform 2024 • ASM’s ALD legacy: 50+ yrs • Solving ALD’s toughest challenges • Largest product portfolio to address diverse application needs • ASM expands ALD- compatible materials • Prolific & impactful IP portfolio 99 Investor Day 2025Index Our growth strategy to 2030 Opportunities and growth through technology inflections Service innovation and automation The art of atomic layering Delivering long-term value
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|Investor Day 2025 | ASM is market leader in ALD 100 ASM Solutions Reactors Designed for ALD ü Tools conceived for ALD ü Small volume reactors; cross- flow and showerhead type ü Integrated pulse valves ü Tykon TM EVC plasma control with fast impedance matching and less variation Pulsar® QCM™ Precursor Innovation Sphere Precursor development strategy: ü Best network (in-house/partner chemical scientists) ü Co-located with ASM hardware Precursor delivery: ü Best temperature uniformity ü Increasing chemical dose/sources University of Helsinki and ASM Chemical Innovation Group (taken in 2023) Integrated solutions Clustering for modular co- development ü Clean (thermal/plasma) ü Treat (inhibit, functionalize) ü Controlled environment Tession® XP8E® Non-uniform precursor delivery/plasma Parasitic CVD Thermal uniformity Radical/ion recombination Plasma damage Reactor challenges Precursor issues Soft-saturation Precursor decomposition Steric hindrance Necessary volatility Byproduct interaction Surface effects Poorly functionalized surfaces Contaminated surfaces Outgassing Topography Surface and precursor interaction Industry Problem• ASM’s ALD legacy: 50+ yrs • Solving ALD’s toughest challenges • Largest product portfolio to address diverse application needs • ASM expands ALD- compatible materials • Prolific & impactful IP portfolio 100 Investor Day 2025Index Our growth strategy to 2030 Opportunities and growth through technology inflections Service innovation and automation The art of atomic layering Delivering long-term value
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|Investor Day 2025 | ASM is market leader in ALD 101 High quality oxides, carbides and nitrides Silicon oxides, metal oxides, metal nitrides, metals, clean/treatment HT silicon oxides/doped oxides, silicon nitrides, metal oxides, nitrides, metals, clean/treatment Pulsar® EmerALD® Synergis® Magma® DCM™ Formis®/Formion® Valion® QCM™ JQCM™ Prominis® AriusTM Tession® XP8® XP8E® High-k, dipole and work function Patterning, high-k, WF, conducting nitrides, metallization, liner/gapfill, interfacial eng/clustered films HAR gap-fill, TSV liner, low-k liner, SiN liner metallization, high-k, interfacial eng/clustered films Single Dual Quad New platform with integrated AI/ML Platform Tailored ALD solutions for every customer need Wide range of technically differentiated ALD products on new platform to enable enhanced clustering & productivity for a range of applications and fab volumes• ASM’s ALD legacy: 50+ yrs • Solving ALD’s toughest challenges • Largest product portfolio to address diverse application needs • ASM expands ALD- compatible materials • Prolific & impactful IP portfolio 101 Investor Day 2025Index Our growth strategy to 2030 Opportunities and growth through technology inflections Service innovation and automation The art of atomic layering Delivering long-term value
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|Investor Day 2025 | ASM is market leader in ALD 102 Elements accessed by ALD • ASM’s ALD legacy: 50+ yrs • Solving ALD’s toughest challenges • Largest product portfolio to address diverse application needs • ASM expands ALD- compatible materials • Prolific & impactful IP portfolio Source: www.atomiclimits.com/alddatabase ASM has developed reference processes for >70% of the elements cited in ALD literature 1980’s 102 Investor Day 2025Index Our growth strategy to 2030 Opportunities and growth through technology inflections Service innovation and automation The art of atomic layering Delivering long-term value
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|Investor Day 2025 | ASM is market leader in ALD 103 Elements accessed by ALD • ASM’s ALD legacy: 50+ yrs • Solving ALD’s toughest challenges • Largest product portfolio to address diverse application needs • ASM expands ALD- compatible materials • Prolific & impactful IP portfolio Source: www.atomiclimits.com/alddatabase ASM has developed reference processes for >70% of the elements cited in ALD literature Early 2000 103 Investor Day 2025Index Our growth strategy to 2030 Opportunities and growth through technology inflections Service innovation and automation The art of atomic layering Delivering long-term value
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|Investor Day 2025 | ASM is market leader in ALD 104 2024 Elements accessed by ALD • ASM’s ALD legacy: 50+ yrs • Solving ALD’s toughest challenges • Largest product portfolio to address diverse application needs • ASM expands ALD- compatible materials • Prolific & impactful IP portfolio Source: www.atomiclimits.com/alddatabase ASM has developed reference processes for >70% of the elements cited in ALD literature 104 Investor Day 2025Index Our growth strategy to 2030 Opportunities and growth through technology inflections Service innovation and automation The art of atomic layering Delivering long-term value
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|Investor Day 2025 | ASM is market leader in ALD 105 Competitive impact Portfolio size ASM Competitor B Competitor D Competitor C Competitor A 0 2 4 6 8 10 12 14 16 0 200 400 600 800 1,000 • ASM’s ALD legacy: 50+ yrs • Solving ALD’s toughest challenges • Largest product portfolio to address diverse application needs • ASM expands ALD- compatible materials • Prolific & impactful IP portfolio Source: LexisNexis® PatentSight® (November 2024), for more information, please visit https://www.lexisnexisip.com/resources/atomic -layer-deposition-thin-layers-are-a-big-thing/ 105 Investor Day 2025Index Our growth strategy to 2030 Opportunities and growth through technology inflections Service innovation and automation The art of atomic layering Delivering long-term value
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|Investor Day 2025 | More ALD materials and passes needed with GAA technology scaling Increasing GAA complexity drives ALD growth 106 High(er)-k gate oxide Additional dipoles for multi-Vt1 Work function metals Molybdenum metallization1 Silicide/Dual silicide Hardmasks Etch stop layers ALD gapfills1 Area selective dep processes MIMCAP metal electrodes High-k dielectric GAA 1st Gen (2nm) FEOL MOL BEOL MIM Cap GAA 3rd Gen (1.0nm) 1) Deepdive 106 Investor Day 2025Index Our growth strategy to 2030 Opportunities and growth through technology inflections Service innovation and automation The art of atomic layering Delivering long-term value
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|Investor Day 2025 | High-k Dipoles Work function metals Patterning materials/spacers FinFET CMOS Capacitor high-k, liner Capacitor metal electrode Back gate metal Front gate metal Dielectric gapfill Channel Gate oxide 4F2 Cell Memory transitions accelerate ALD adoption 107 6F2 to 4F2 DRAM cell Planar to FinFET CMOS High-k Dipoles Metal gates High aspect ratio gapfills Area selective dep processes 3D-NAND complexity increasing 107 Investor Day 2025Index Our growth strategy to 2030 Opportunities and growth through technology inflections Service innovation and automation The art of atomic layering Delivering long-term value
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|Investor Day 2025 ALD is essential for 3D scaling of functional and gapfill layers ASM excels in solving many high value problems with unique solutions 108 108 Investor Day 2025Index Our growth strategy to 2030 Opportunities and growth through technology inflections Service innovation and automation The art of atomic layering Delivering long-term value
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Deep dive 109 Investor Day 2025Index Our growth strategy to 2030 Opportunities and growth through technology inflections Service innovation and automation The art of atomic layering Delivering long-term value
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|Investor Day 2025 | ASM advancing multi-Vt with precisely controlled dipole layers ASM dipole technology meets growing Vt tuning needs GAA driving more stringent functional film requirements only met by ALD 0.3 0.2 0.1 0 -0.1 -0.2 -0.3 Vtsat (V) ~200mV NMOS PMOS eLVT uLVT uL-LVT LVT L-LVT SVT 1-2 ALD layers • New dipole materials and atomic scale precision required to shift and tune Vt with necessary separation • Multiple ALD pattern assist layers needed to place dipoles Reducing gap between Vt levelsVts increase node over node More Vt levels Needed to optimize power and performance enabled by “zero-volume” dipoles 2016 2020 2023 2025 2027 Total Vts Low Vt for increased performance High Vt for reduced power consumption 110 Source: S.-Y. Wu et al, IEDM 2022 (TSMC 3nm) 110 Investor Day 2025Index Our growth strategy to 2030 Opportunities and growth through technology inflections Service innovation and automation The art of atomic layering Delivering long-term value
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|Investor Day 2025 | Integrated solution for molybdenum metallization 111 Flexible, multi-process integrated solution for all molybdenum metallization challenges Mo Mo SiO PEALD Mo Liner Atomically smooth interface via surface clean Leader in solid chemistry management <400C, seam free conformality, low resistivity PEALD and thermal Mo ALD with integrated surface cleanRequirements Low resistivity (seam-free), non-damaging, low temperature Mo metallization solution for via and trench fill in Logic Mo Mo Mo Tession® Mo Formion®Thermal ALD trench fill Trench Via Prominis® Solid source 111 Investor Day 2025Index Our growth strategy to 2030 Opportunities and growth through technology inflections Service innovation and automation The art of atomic layering Delivering long-term value
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|Investor Day 2025 | ※ ASM structure SiO Gapfill without seams and void-free ASM solutions Void-free SiO Seamless gapfill in lateral trenches with thin film at side and bottom ※ ASM structure ASM solutions Innovations for vertical and lateral ALD gapfill Providing innovative solutions for future nodes’ challenging demands on HVM-proven hardware Vertical gapfill <6nm50nm Void, seam Challenges Logic Re-entrant narrow CD 3D-NAND High aspect ratio, >250:1 Void Substrate Seam Lateral gapfill • Seams in lateral trench • Minimal deposition on side and bottom Challenges Seam Conventional gapfill Innovative gapfill ALD deposition Gas change Inhibition step Gas change ALD deposition Inhibition steps not required, enabled by unique precursor Process sequence per cycle 112 112 Investor Day 2025Index Our growth strategy to 2030 Opportunities and growth through technology inflections Service innovation and automation The art of atomic layering Delivering long-term value
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|Investor Day 2025 | Key takeaways 113 1 Essential ALD is essential technology for advanced, 3D structures. 2 Growth Single-wafer ALD set to grow at 9-13% CAGR, outpacing WFE (6%) Leading logic/foundry inflections and expanding in memory. 3 Legacy Unparalleled legacy in ALD (50+ years). 4 Innovation ASM leads ALD market and continuously innovates to stay ahead of what’s next. 5 Clustering New common platform drives enhanced clustering & productivity: Couples surface clean and deposition solutions. 6 ALD+ ALD+ means advanced materials, chemical and technology solutions, tackling high value problems. 113 Investor Day 2025Index Our growth strategy to 2030 Opportunities and growth through technology inflections Service innovation and automation The art of atomic layering Delivering long-term value
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ASM Investor Day 2025 Investing for growth, delivering long-term value Paul Verhagen CFO 114 Investor Day 2025Index Our growth strategy to 2030 Opportunities and growth through technology inflections Service innovation and automation The art of atomic layering Delivering long-term value
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|Investor Day 2025 | Key takeaways 115 1 Value for stakeholders ASM Growth through Innovation strategy is creating significant value for stakeholders. 2 Guidance 2027 Guidance 2027: revenue adjusted for currency only to €3.7-€4.6 billion and margins increased. 3 Guidance 2030 New guidance for 2030 is as follows: • Revenue of more than €5.7 billion, representing a 2024-2030 CAGR of at least 12%, outperforming WFE. • Gross margin target range increased to 47%-51% • Operating margin target range increased to 28%-32%. Target >30% by 2030. 4 Operating expenses Continue low double-digit % investment in net R&D while SG&A is expected to decrease to below 7% in 2030, both as % of total sales. 5 Capital allocation Capital allocation policy unchanged. Investment in growth remains the key priority with excess cash returned to shareholders. 6 Net Zero 2035 target Driving sustainability is not only a license to operate, it also makes business sense. Note: All numbers presented throughout this presentation are adjusted numbers excluding purchase price allocation adjustment 115 Investor Day 2025Index Our growth strategy to 2030 Opportunities and growth through technology inflections Service innovation and automation The art of atomic layering Delivering long-term value
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|Investor Day 2025 Growth through Innovation strategy has created significant value over FY20 - FY24 Total cash returned to shareholders Accumulated free cash flow Average ROIC Average gross margin Average operating margin Renewable electricity since 2024 Revenue CAGR Reduction in scope 1 and 2 emissions (2024 vs 2020) €1.0 billion €1.6 billion1 36.5%2 48.7% 27.0% 100% 22.0% -85% 1) Excluding ASMPT dividends and acquisitions 2) Excluding share of income from ASMPT and equity value and cash 116 116 Investor Day 2025Index Our growth strategy to 2030 Opportunities and growth through technology inflections Service innovation and automation The art of atomic layering Delivering long-term value
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|Investor Day 2025 | Latest view FY25 117 • ASM expects Q3 2025 revenue to be as previously guided. • Q4 2025 revenue to be below earlier expectations. This is due to lower-than-expected demand in leading-edge logic/foundry, with a mixed picture per customer, as well as lower demand in the power/wafer/analog markets. • For this reason, revenue in the second half of 2025 is expected to be 5%-10% lower compared to the first half of 2025 at constant currencies. • For bookings, the above-mentioned demand weakness is projected to result in a book to bill of below 1 in the second half of 2025. • The updated guidance for H2 2025 implies that revenue growth (at constant currencies) for the full year 2025 will be at the lower end of the previously guided range of 10%-20%. • For the full year 2025, we still expect to grow strongly in leading-edge logic/foundry. The structural outlook for this market segment remains strong. 117 Investor Day 2025Index Our growth strategy to 2030 Opportunities and growth through technology inflections Service innovation and automation The art of atomic layering Delivering long-term value
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|Investor Day 2025 Excess cash returned to shareholders Dividend per share (in € paid over) Cumulative cash returned to market (€ million) Cash returned to shareholders • More than €2.3 billion cash returned since FY15 of which approximately: • €1.3 billion in share buyback • €0.8 billion in dividends • €0.2 billion in return of capital 0.70 0.70 0.80 1.00 1.50 2.00 2.50 2.50 2.75 3.00 1.50 FY15 FY16 FY17 FY18 FY19 FY20 FY21 FY22 FY23 FY24 3.00 Regular dividend Extraordinary dividend 0 500 1,000 1,500 2,000 2,500 FY15 FY16 FY17 FY18 FY19 FY20 FY21 FY22 FY23 FY24 Return of capital Dividends Share buybacks Dividends gradually increased from €0.70 per ordinary share in FY15 to €3.00 in FY24 118 118 Investor Day 2025Index Our growth strategy to 2030 Opportunities and growth through technology inflections Service innovation and automation The art of atomic layering Delivering long-term value
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|Investor Day 2025 Strong total shareholder return Total cumulative shareholder return 0 100 200 300 400 500 600 700 800 900 Jan/20 Jul/20 Jan/21 Jul/21 Jan/22 Jul/22 Jan/23 Jul/23 Jan/24 Jul/24 Jan/25 Jul/25 ASM SOX AEX Note: Indexed total return ASM vs. AEX and SOX as of January 2020, up to September 2025 119 119 Investor Day 2025Index Our growth strategy to 2030 Opportunities and growth through technology inflections Service innovation and automation The art of atomic layering Delivering long-term value
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Status update on FY27 guidance 120 Investor Day 2025Index Our growth strategy to 2030 Opportunities and growth through technology inflections Service innovation and automation The art of atomic layering Delivering long-term value
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|Investor Day 2025 2027 revenue guidance adjusted for currency only, margins increased FY 2027 Current view Revenue €4.0-€5.0 billion €3.7-€4.6 billion adjusted for currency1 Gross margin % 46%-50% (FY26-FY27) 47%-51% (FY26-FY27) SG&A % revenue High single digit (FY26-FY27) High single digit (FY26-FY27) R&D (net) % revenue High single digit to low double digit (FY26-FY27) Low double digit (FY26-FY27) Operating margin % 26%-31% (FY26-FY27) 28%-32% (FY26-FY27) Effective Tax Rate % High teens to low twenties (FY26-FY27) Low twenties (FY26-FY27) 1) Revenue adjusted based on USD/EUR 1.17. 121 121 Investor Day 2025Index Our growth strategy to 2030 Opportunities and growth through technology inflections Service innovation and automation The art of atomic layering Delivering long-term value
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Targets for FY30 122 Investor Day 2025Index Our growth strategy to 2030 Opportunities and growth through technology inflections Service innovation and automation The art of atomic layering Delivering long-term value
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|Investor Day 2025 Revenue target of more than €5.7 billion in FY30, outgrowing WFE market ASM expects to outgrow the WFE market over the next six years FY20 FY21 FY22 FY23 FY24 FY30 Revenue (€ million) WFE market forecast (US$ billion) 65 93 101 103 112 FY20 FY21 FY22 FY23 FY24 FY30 Growth drivers for period ’25 – ’30: • Growth of end markets • Growth and composition of WFE market • Increased ALD intensity with new inflections and maintain ALD market leadership in logic/foundry and grow memory, in particular DRAM • Increased Epi intensity with new inflections and market share gains • Grow in advanced packaging applications • Spares and services > grow Outcome-based services CAGR +6% 1,328 1,730 2,411 2,634 2,933 Source: Historical WFE: TechInsights (June 2025); 2030 WFE: ASM internal analysis 155 CAGR >12% >5.7bn1 1) At comparable currencies 123 123 Investor Day 2025Index Our growth strategy to 2030 Opportunities and growth through technology inflections Service innovation and automation The art of atomic layering Delivering long-term value
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|Investor Day 2025 Revenue by served market as % of equipment revenue (average FY20-FY24) Revenue by product as % of equipment revenue (average FY20-FY24) Highest exposure in logic/foundry and ALD • ALD represents the largest part of sales • We have a growing position in Si Epi, driven by market share gains in the leading-edge logic/foundry market • The Others category consists of vertical furnaces, PECVD and SiC Epi, in which we target selective growth opportunities • Leading-edge logic/foundry is the key growth driver • Mature logic/foundry contribution has also been robust in 2023/2024, particularly from the Chinese market • Memory has on average been the smaller segment in recent years, but represents a strategic growth area for ASM • The Others segment mainly consists of the power/analog/wafer segments 60%19% 21% 68% 13% 19% SW ALD Epi Others Others Memory Logic/foundry 124 124 Investor Day 2025Index Our growth strategy to 2030 Opportunities and growth through technology inflections Service innovation and automation The art of atomic layering Delivering long-term value
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|Investor Day 2025 Mid-term gross margin guidance increased to 47%-51% Gross margin FY20 FY21 FY22 FY23 FY24 FY30 47.0% 47.9% 47.5% 49.3% 50.5% 47.0% 51.0% Factors affecting gross margin: Sales price development Application and customer mix Cost efficiencies: • Supply chain improvements, e.g., Merge in Transit (MIT) • Standardization and commonality of platforms • Value engineering Operating leverage Some impact from USD EUR currency development despite reasonably good natural hedge Potential unfavorable impact from geopolitical changes (tariffs) uncertain and not included 125 125 Investor Day 2025Index Our growth strategy to 2030 Opportunities and growth through technology inflections Service innovation and automation The art of atomic layering Delivering long-term value
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|Investor Day 2025 Gradual decrease of SG&A as % of revenue and continued investments in R&D SG&A as % of revenue gradually decrease • Benefiting from operating leverage due to revenue growth, cost control, digitization and productivity improvements Increasing to low teens depending on revenue growth • Advanced R&D for inflections in logic/foundry and memory segments, including AP • Lab expansions & equipment upgrades • Continuous investments in R&D headcount • Gross R&D investment is typically 2-4% higher than net R&D SG&A spend (as % of revenue) FY20 FY21 FY22 FY23 FY24 FY30 11.9% 11.0% 11.4% 11.5% 10.6% Net R&D spend (as % of revenue) 172 206 297 396 456 139 151 229 295 356 13.0% 10.5% FY20 11.9% 8.7% FY21 12.3% 9.5% FY22 15.0% 11.2% FY23 15.5% 12.1%12.1% FY24 FY30 Gross R&D % Net R&D % Gross R&D Net R&D Target: low teens Below 7% 126 126 Investor Day 2025Index Our growth strategy to 2030 Opportunities and growth through technology inflections Service innovation and automation The art of atomic layering Delivering long-term value
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|Investor Day 2025 Strong financial performance driven by revenue growth combined with disciplined gross margin and cost management Revenue, operating profit and operating margin (€ million) 1,328 1,730 2,411 2,634 2,933 327 491 641 699 821 24.6% FY20 28.4% FY21 26.6% FY22 26.6% FY23 28.0% FY24 FY30 Revenue Operating profit Operating margin % by 2030: >30% Operating margin targets 2026 - 2030: 28% to 32% 127 127 Investor Day 2025Index Our growth strategy to 2030 Opportunities and growth through technology inflections Service innovation and automation The art of atomic layering Delivering long-term value
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|Investor Day 2025 Tax rate to gradually stabilize at low twenties Effective tax rate1 FY20 FY21 FY22 FY23 FY24 16.1% 19.6% 17.7% 18.4% 21.1% Remarks Effective tax rate (ETR) in recent years gradually increased from mid to high teens to low twenties due to the impact from Global minimum tax and the relative development of results on a country-by-country basis Global minimum tax of 15% has become effective since 2024 and has resulted in upward pressure on ETR due to impact on certain tax incentives The allocation of taxable profits moves in sync with ASM business developments Global business and tax developments are continuously monitored assessing their potential ETR impact 1) ETR refers to effective tax rate excluding ASMPT 128 128 Investor Day 2025Index Our growth strategy to 2030 Opportunities and growth through technology inflections Service innovation and automation The art of atomic layering Delivering long-term value
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|Investor Day 2025 Disciplined working capital management and increased capex to support growth We expect working capital days to range from 50 -70 days Strong working capital in 2024 due to: • Improved DIO at 63 days • Relatively higher contract liabilities (mainly deferred revenue) at 54 days that are expected to normalize in coming years Working capital days 63 58 61 60 50 FY20 FY21 FY22 FY23 FY24 FY30 70 Capital expenditure, gross (€ million) 50 95 72 101 155 168 FY20 FY21 FY22 FY23 FY24 FY30 200 100 Capex €150-250m in years with infrastructure expansion and €100-200m after main expansions are completed • Singapore completed in 2023 • South Korea completed in 2025 • Phoenix expected to be completed in Q1 2027 • Potential expansion in Europe starting in 2028 • Continued investments in products and metrology to support innovation 129 129 Investor Day 2025Index Our growth strategy to 2030 Opportunities and growth through technology inflections Service innovation and automation The art of atomic layering Delivering long-term value
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|Investor Day 2025 Continuous growth in FCF generation in excess of €1B by FY30 Free cash flow1 (€ million) 104 230 332 416 534 FY20 FY21 FY22 FY23 FY24 FY30 > €1B by FY30 FCF growth due to : Continued investment in revenue growth with strong profitability Strict working capital management Annual capex €100-200 million Capex of €150-250 milion in years with infrastructure expansion 130 1) Excluding ASMPT dividends and acquisitions 130 Investor Day 2025Index Our growth strategy to 2030 Opportunities and growth through technology inflections Service innovation and automation The art of atomic layering Delivering long-term value
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|Investor Day 2025 Introducing FY30 targets FY 2024 FY 2030 Revenue €2.9 billion More than €5.7 billion by FY301 Revenue growth 12.0% yoy At least 12% CAGR (FY24-FY30) Gross margin % 50.5% 47-51% (FY26-FY30) SG&A % revenue 10.4% Below 7% (by FY30) R&D (net) % revenue 12.1% Low double digit(FY26-FY30) Operating margin % 28.0% 28-32% (FY26-FY30), >30% by 2030 Capex (gross) €168 million €100-200 million (FY30) Effective Tax Rate % 21.1% Low twenties (FY26-FY30) Total working capital 50 days 50-70 days (FY26-FY30) Free cash flow €534 million More than €1 billion by FY30 1) At comparable currencies 131 131 Investor Day 2025Index Our growth strategy to 2030 Opportunities and growth through technology inflections Service innovation and automation The art of atomic layering Delivering long-term value
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Capacity and margin improvement initiatives 132 Investor Day 2025Index Our growth strategy to 2030 Opportunities and growth through technology inflections Service innovation and automation The art of atomic layering Delivering long-term value
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|Investor Day 2025 100 170 180 330 350 400 700+ ASM investing in flexible manufacturing capacity 133 Woodlands L3 completed 2020 2021 2022 2023 2024 2025 2026-2030 133 Singapore second floor expansion Manufacturing capacity indexed to 2020 133 Investor Day 2025Index Our growth strategy to 2030 Opportunities and growth through technology inflections Service innovation and automation The art of atomic layering Delivering long-term value
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|Investor Day 2025 100 170 180 330 350 400 700+ ASM investing in flexible manufacturing capacity 134 Dongtan expansion 2020 2021 2022 2023 2024 2025 2026-2030 134 Korea expansion will provide further capacity and enhanced business continuity Manufacturing capacity indexed to 2020 134 Investor Day 2025Index Our growth strategy to 2030 Opportunities and growth through technology inflections Service innovation and automation The art of atomic layering Delivering long-term value
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|Investor Day 2025 100 170 180 330 350 400 700+ ASM investing in flexible manufacturing capacity Incremental future capacity expansion can be realized via merge in transit and increased efficiency to scale for 2030 Future MIT 2020 2021 2022 2023 2024 2025 2026-2030 Increased efficiency 135135 Manufacturing capacity indexed to 2020 135 Investor Day 2025Index Our growth strategy to 2030 Opportunities and growth through technology inflections Service innovation and automation The art of atomic layering Delivering long-term value
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|Investor Day 2025 Drive operational excellence, flexible footprint and strong financial performance New digital foundation in place since July 2025 after successful big bang go live with new global ERP and PLM systems 1 These new systems enable improved productivity, real time data analytics and increased benefits from AI 2 Improved platform development will reduce cost of product, inventory and lead times. New platforms will gradually replace previous generations in coming years 3 Improved manufacturing model including Merge In Transit will increase overall capacity and reduce cost of good for eligible tools 4 All these initiatives are expected to gradually and structurally improve operating margin by 200-300bps in the coming years which is reflected in the mid-term guidance 5 Digital foundation Productivity New product platforms Manufacturing model Operating margin 136 136 Investor Day 2025Index Our growth strategy to 2030 Opportunities and growth through technology inflections Service innovation and automation The art of atomic layering Delivering long-term value
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Capital allocation 137 Investor Day 2025Index Our growth strategy to 2030 Opportunities and growth through technology inflections Service innovation and automation The art of atomic layering Delivering long-term value
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|Investor Day 2025 Capital allocation strategy unchanged Priority 2 Maintain a strong balance sheet • Cash position around €800 million Priority 3 Sustainable dividend payments Priority 4 Return of excess cash to shareholders through share buybacks Priority 1 Invest to support future growth • R&D • Capex • M&A 138 138 Investor Day 2025Index Our growth strategy to 2030 Opportunities and growth through technology inflections Service innovation and automation The art of atomic layering Delivering long-term value
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|Investor Day 2025 Disciplined capital allocation driving strategic growth and sustained shareholder value 99 97 122 123 13567 140 101 151172 206 297 396 456 95 72 101 155 168 314 Capex M&AGross R&D Share buyback Dividends Free cash flow before capex and gross R&D FY20 FY21 FY22 FY23 FY24 Capital allocation (€ million) Capital allocation from FY20 -FY24: Majority of cash flow 1 allocated to R&D, capex and M&A to support value creating growth Strongly increased funding of R&D to drive differentiation in innovation with strong ROI Steady increase in dividends and share buybacks 1) Free cash flow before capex and gross R&D 139 139 Investor Day 2025Index Our growth strategy to 2030 Opportunities and growth through technology inflections Service innovation and automation The art of atomic layering Delivering long-term value
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Sustainability roadmap – Planning for 2035 140 Investor Day 2025Index Our growth strategy to 2030 Opportunities and growth through technology inflections Service innovation and automation The art of atomic layering Delivering long-term value
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|Investor Day 2025 |Investor Day 2025 Our sustainability framework covers 5 pillars Product sustainability Improving the energy and resource efficiency of our products Product safety Improving the safety of our products and our customers’ operations Safety Making a positive impact on the safety of our industry Our team Engaging and unleashing everyone’s potential at ASM Community, industry, society impact Positively impacting our communities, industry, and the world around us Net-Zero Achieving our net-zero 2035 target Climate resilience & adaptation Addressing climate change risks and opportunities Safety Improving safety throughout our supply chain Environmental footprint Minimizing environmental impacts across the supply chain ESG compliance Meeting ESG regulatory requirements and standards Human rights Striving for al treatment of people throughout our supply chain Ethics and integrity Upholding responsible and ethical behavior Disclosures Providing transparency, integrity and assurance Innovation People Planet Supply chain Governance 141 141 Investor Day 2025Index Our growth strategy to 2030 Opportunities and growth through technology inflections Service innovation and automation The art of atomic layering Delivering long-term value
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|Investor Day 2025 Focus areas defined through Double Materiality Assessment Environment Climate change (E1) • Climate change mitigation • Climate change adaptation • Energy • Product Sustainability Social Our workforce (S1) Working conditions • Health and safety • Adequate wages • Working hours Equal treatment and opportunities for all • Training and skills development • Inclusion and Diversity • Equal pay for work of equal value Workers in the supply chain (S2) Working conditions • Health and safety • Working time Other work-related rights • Forced labor Governance Business conduct (G1) • Corporate culture • Protection of whistleblowers Corruption and bribery • Prevention and detection, including training • Incidents 142 142 Investor Day 2025Index Our growth strategy to 2030 Opportunities and growth through technology inflections Service innovation and automation The art of atomic layering Delivering long-term value
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|Investor Day 2025 Sustainable chemistry Energy efficiency GHG emission reduction ▪ Use of alternative/green chemistry to reduce global warming potential (GWP) ▪ Reduce usage amount of precursor and process chemistry ▪ Reduce per wafer consumption via throughput improvement ▪ Reduce tool power and utilities usage through engineering design ▪ Reduce fuel or gas usage through alternative technologies ▪ Recycle or reuse materials Product sustainability strategy focuses on key technology drivers ▪ 35% reduction of precursor consumption1 ▪ 90% reduction in NF31 ▪ 35% reduction in thermal energy1 ▪ 20% reduction in RF energy1 ▪ Net-zero pathway for 3.11 use of sold products 2035 targets Approach Examples ▪ TenzaTM ▪ High throughput clean ▪ TurinoTM-CL ▪ GenMatchTM ▪ Dynamic HPM2 control ▪ High-efficiency chillers 1) Against a 2023 baseline 2) Hazardous production material 143 143 Investor Day 2025Index Our growth strategy to 2030 Opportunities and growth through technology inflections Service innovation and automation The art of atomic layering Delivering long-term value
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|Investor Day 2025 | Key takeaways 144 1 Value for stakeholders ASM Growth through Innovation strategy is creating significant value for stakeholders. 2 Guidance 2027 Guidance 2027: revenue adjusted for currency only to €3.7-€4.6 billion and margins increased. 3 Guidance 2030 New guidance for 2030 is as follows: • Revenue of more than €5.7 billion, representing a 2024 -2030 CAGR of at least 12%, outperforming WFE. • Gross margin target range increased to 47% -51% • Operating margin target range increased to 28% -32%. Target >30% by 2030. 4 Operating expenses Continue low double -digit % investment in net R&D while SG&A is expected to decrease to below 7% in 2030, both as % of total sales. 5 Capital allocation Capital allocation policy unchanged. Investment in growth remains the key priority with excess cash returned to shareholders. 6 Net Zero 2035 target Driving sustainability is not only a license to operate, it also makes business sense. Note: All numbers presented throughout this presentation are adjusted numbers excluding purchase price allocation adjustment 144 Investor Day 2025Index Our growth strategy to 2030 Opportunities and growth through technology inflections Service innovation and automation The art of atomic layering Delivering long-term value
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Thank you ASM Investor Day 2025 145 Investor Day 2025Index Our growth strategy to 2030 Opportunities and growth through technology inflections Service innovation and automation The art of atomic layering Delivering long-term value