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© Nova confidential & proprietary information1 Nova Investor Presentation November 2025
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© Nova confidential & proprietary information2 2 © Nova confidential & proprietary information Factors that may affect our results, performance, circumstances or achievements include, but are not limited to, the following: increased information technology security threats and sophisticated computer crime; foreign political and economic risks including supply-chain difficulties; regulations that could restrict our operations such as economic sanctions and export restrictions; changes in U.S. trade policies; indirect effects of the Russia – Ukraine conflict; market instability including inflation and recessionary pressures; risks related to doing business with China; catastrophic events; inability to protect our intellectual property; open source technology exposure, including risks related to artificial intelligence; failure to compete effectively or to respond to rapid technological changes; consolidation in our industry; difficulty in predicting the length and strength of any downturn or expansion period of the market we target; factors that adversely affect the pricing and demand for our product lines; dependency on a small number of large customers; dependency on a single manufacturing facility per product line; dependency on a limited number of suppliers; difficulty in integrating current or future acquisitions; lengthy sales cycle and customer delays in orders; risks related to conditions in Israel, including related to the war against Hamas and other terrorist organizations; risks related to our convertible notes; currency fluctuations; and quarterly fluctuations in our operating results. We cannot guarantee future results, levels of activity, performance or achievements. The matters discussed in this presentation also involve risks and uncertainties summarized under the heading "Risk Factors" in Nova's Annual Report on Form 20-F for the year ended December 31, 2024, filed with the Securities and Exchange Commission on February 20, 2025. These factors are updated from time to time through the filing of reports and registration statements with the Securities and Exchange Commission. Nova Ltd. does not assume any obligation to update the forward- looking information contained in this presentation. Cautionary Statements Use of Non-GAAP Adjusted Financial Measures This presentation provides financial measures that exclude amortization of acquired intangible assets, acquisition-related expenses, inventory step-up and contingent consideration revaluation, stock-based compensation expenses, revaluation of operating lease liabilities and remeasurement of intercompany loans, amortization of debt discount and issuance costs and tax effect of non-GAAP adjustment, as applicable, and are therefore not calculated in accordance with generally accepted accounting principles (GAAP). Management believes that these non-GAAP financial measures provide meaningful supplemental information regarding Nova's performance because they reflect our operational results and enhance management's and investors' ability to evaluate Nova's performance before charges or benefits considered by management to be outside Nova's ongoing operating results. The presentation of this non-GAAP financial information is not intended to be considered in isolation or as a substitute for the financial information prepared and presented in accordance with GAAP. Management believes that it is in the best interest of its investors to provide financial information that will facilitate comparison of both historical and future results and allow greater transparency to supplemental information used by management in its financial and operational decision making. A reconciliation of each GAAP to non-GAAP financial measure discussed in this presentation is contained in the accompanying financial tables. Forward-Looking Statements This presentation contains forward-looking statements within the meaning of safe harbor provisions of the Private Securities Litigation Reform Act of 1995 relating to future events or our future performance, such as statements regarding, but not limited to, anticipated growth opportunities and projections about our business and its future revenues, expenses and profitability. Forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause our actual results, levels of activity, performance or achievements to differ materially from any future results, levels of activity, performance or achievements expressed or implied in those forward-looking statements. .
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© Nova confidential & proprietary information3 3 © Nova confidential & proprietary information Nova is a leading innovator, and a key provider of advanced metrology and process control solutions used in semiconductor manufacturing 3 © Nova confidential & proprietary information
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© Nova confidential & proprietary information4 4 © Nova confidential & proprietary information Revealing the Invisible Actionable Insight, Critical Foresight Transistors 3 300T128T Tiers 30 I/O Pitch<300µm Flip-Chip Bump <10µm 3D-SOC Advanced Memory Physical & Mathematical Algorithms Advanced Software Advanced Packaging Advanced Logic (AI-Enabled) 25B A100 200B B100 Chemical Chemical Analysis X-RayOptical Materials Dimensional 2nm Node 300, 200, 150 mm Wafers DRAMLogic NAND Packaging X8 X X
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© Nova confidential & proprietary information5 5 © Nova confidential & proprietary information 269 517 878 2020 2023 2025F Revenue ($M) Proven execution Outperforming the industry Resilient business model Organic Growth Engines Diverse Markets & Nodes Differentiated Portfolio Diverse Revenue Streams Global Footprint Source: Gartner, Company Non-GAAP Financials, 5Y CAGR 2020-2025; 2025 Forecast based on actual Data for Q1-Q3 and the Company mid-guidance for Q425. +13% +28% WFE Nova Product Revenue Company Revenues (M$) 5Y CAGR 5Y CAGR 5Y CAGR
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© Nova confidential & proprietary information6 6 © Nova confidential & proprietary information Quarterly Performance $179M $225M Q3 2024 Q3 2025 $1.74 $2.16 Company Guidance Revenue EPS Q4 2025 $215 -$225M $1.77- $1.95 (GAAP) $2.02-$2.20 (non-GAAP) Record quarterly revenue Record quarterly revenue from advanced logic devices Record quarterly revenue from Service Q3 25 Highlights Record quarterly revenue from memory devices Non-GAAP Financials, Q4 2025 mid-guidance $1.6B Cash Reserves +25% YoY YoY +24% EPS Revenue
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© Nova confidential & proprietary information7 7 © Nova confidential & proprietary information Source: Gartner Research, Yole Research 2025, Industry and AI Semi CAGR 2024-2029 AI-Driven Market With Multiple Growth Engines ה Revenue CAGR 2024-2029 9% 18% 37% 50% Advanced Logic GAA HBM Mature Logic Advanced Packaging 2.5D/3D 19% Advanced Memory 2023 2024 2025 2026 2027 2028 AI Semi Non-AI Semi Revenue in $B 11% Industry AI Semi 23% 518 568 644 663 638 642 688 138 205 266 331 387 397 438 2029 2030 656 773 1126 1025 1115 910 994 $1T
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© Nova confidential & proprietary information8 8 © Nova confidential & proprietary information Multiple Device Inflections Logic FinFET GAA + BPD CFET DRAM 2D 4F2 3D DRAM 3D NAND Single Stack Advanced Packaging 2D FO 2.5D Interposer 3D HB Multi Deck (HB)Multi Stack Increasing Complexity 2020 2030 Increase Process Control Intensity Controller Processor Silicon Interposer
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© Nova confidential & proprietary information9 9 © Nova confidential & proprietary information Metrology Intensity Driven by Critical Applications • Nanosheets, Nano TSV’s • Wafer Edge Metrology Chemical Dimensional Materials • Silicon Stress and Strain • New Material Characterization • More plating steps • Tighter Process Control • HAR CD’s • HB Metrology • Composition and Thickness • Doping and Contamination • Tighter Process and Contamination Control • TSV & RDL Metrology • Pre- and Post- HB Metrology • Panel-Level Metrology • Contaminants and Photoresist Leach Detection Advanced PackagingMemoryLogic
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© Nova confidential & proprietary information10 Legend: R&D and Production Field site: Sales & Service Source: Company data 2022-2025, sites: office, lab, warehouse and cleanroom California 4 sites 4 sites USA Germany 2 sites 3 Sites Europe © Nova confidential & proprietary information10 Global Strength, Ready for Secular Growth 4 R&D and Production Centers, 31 sites +80% Production Capacity Rehovot; Ness Ziona Corporate sites Israel 4 Sites Korea 2 Sites Japan 5 Sites Taiwan 2 Sites China 1 Site Singapore
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Critical Dimensions Material Properties Chemical Analytics StandaloneIntegrated Standalone Raman SpectroscopyXPS, XRF SIMS Wafer Level PackagingFront End Direct Metal Replenishment Standalone Physical & Mathematical Modeling Big Data Analytics Fleet Management Standalone
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12 © Nova confidential & proprietary information Materials Unique Solutions for Complex Challenges Dimensional Mixed Dimensional & Materials Conformality Interfaces Variability Properties Stress Composition TTV/Edge Topography Isolate Structures HAR Structures & Chemical
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13 © Nova confidential & proprietary information ה Leveraging Technology Differentiation Adv. Logic Adv. Memory Specialty Devices Adv. Packaging AncoScene® Front-End Chemical DMR® Direct Metal Replenishment Ancolyzer® Wafer level packaging VeraFlex® (XPS+SRF) Materials Metrion® (Inline SIMS) Elipson® (Inline Raman) Integrated Dimensional Optical CD PrismVeloCD/ Stand-alone WMC Already measuring related applications in fabs 150. 200, 300mm wafers Advanced packaging includes hybrid bonding and HBM processes; Specialty Devices - sensors, power, analog
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© Nova confidential & proprietary information14 14 © Nova confidential & proprietary information Targeting Double-Digit Annual Growth Non-GAAP Financials, Company service revenue CAGR 2020-2024, Growth Calculated from 2020 basis $60M $106M $134M 0 20 40 60 80 100 120 140 160 2020 2022 2024 3000 4600 6400 22% CAGR Revenue Installed base Service Gross Margin Service revenue growth accelerates profitability, enhancing margin resilience and long-term value. 38% 43% 46% 2020 2022 2024 Service profitability
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© Nova confidential & proprietary information15 15 © Nova confidential & proprietary information Materials Leadership ;; ;; ;; Elements of Product Strategy Maintain Tech Leadership New Growth Engines Path Finding and Incubation Early Access Lab to Fab Technology Adjacent Process Control Markets Organic & of Annual Revenue invested in R&D
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© Nova confidential & proprietary information16 © Nova confidential & proprietary information16 Financial Target Model Gross Margin Revenue +$1B 57%-60% SG&A R&D Investment 12%-14% 15%-17% Tax 15% Share Count 32M Operating Margin 28%-33% ~10$ Earnings 2019 2024 2027 M&A $600M $400M $1000M $800M Company revenues, Non-GAAP Financials
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© Nova confidential & proprietary information17 17 © Nova confidential & proprietary information Governance Integrity & Transparency Social People First Always Environment Scope 1+2 Foundation Established Read the 2025 Sustainability Impact Review
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© Nova confidential & proprietary information18 18 © Nova confidential & proprietary information © Nova proprietary information18 Key Takeaways Positioned for Continuous Growth Process complexity, new markets and geopolitics drive investments Increasing need for advanced metrology and process control solutions Unique, disruptive technology portfolio Stronger position, penetrating new segments, expanding TAM Solid operational model Supports clear strategy for growth Proven performance beyond 1B$ Outperforming the Industry Clear sustainability vision and priorities Implemented across the organization Non-GAAP Financials Operating Margin 28%-33% R&D Investment 15%-17% Gross Margin 57%-60%
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© Nova confidential & proprietary information19 Thank You