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SUMMER2026 INVESTOR PRESENTATION
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This presentation contains, or may be deemed to contain, "forward- looking statements" (as defined in the US Private Securities Litigation Reform Act of 1995) which reflect our current views with respect to future events and financial performance. We use words such as "anticipates," “projection,” “outlook,” “forecast,” "believes," "plan," "expect," "future," "intends," "may," "will," "estimates," “see,” "predicts," “should” and similar expressions to identify these forward-looking statements. Forward looking statements included in this press release include our expectations about the semiconductor capital equipment market and outlook. All forward- looking statements address matters that involve risks and uncertainties. Accordingly, the Company’s actual results may differ materially from the results predicted or implied by these forward-looking statements. These risks, uncertainties and other factors also include, among others, those identified in "Risk Factors,” "Management's Discussion and Analysis of Financial Condition and Results of Operations'' and elsewhere in our annual report on Form 10-K as filed with the Securities and Exchange Commission. Ultra Clean Holdings, Inc. undertakes no obligation to publicly update or review any forward-looking statements, whether as a result of new information, future developments or otherwise unless required by law. Non-GAAP Management uses non-GAAP gross margin, non-GAAP operating margin and non-GAAP net income to evaluate the Company's operating and financial results. We believe the presentation of non-GAAP results is useful to investors for analyzing our core business and business trends and comparing performance to prior periods, along with enhancing investors' ability to view the Company's results from management's perspective. The presentation of this additional information should not be considered a substitute for results prepared in accordance with GAAP. Tables presenting reconciliations from GAAP results to non-GAAP results are included in the appendix. Safe Harbor 2
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Enabling Technology for 30 Years 3 SOLVING COMPLEX PROBLEMS THROUGH GENERATIONS OF INNOVATION
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Proven Growth Strategy 4 JULY•2015 Purchase Price $22.8M Revenue Growth: +325% GM Expansion: +7% FEBRUARY•2015 Purchase price $43.6M Revenue: +200% GM: +8% MARCH•2021 Purchase Price $351M Revenue: +50% GM: +5% AUGUST•2018 Purchase Price $342.0 Revenue: +40% GM: +8% APRIL•2019 Purchase Price $30.0M EV/EBITDA ~5.4 OCTOBER•2023 Purchase Price $50M EV/EBITDA ~8.3
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FAB CONSTRUCTION SUPPORT ChemTrace: Cleanrooms & Sub-fab Analysis Fab Infrastructure – Facilities Gas & Water, Effluent Abatement & Treatment Our Role in the Lifecycle of Chip Manufacturing 5 EQUIPMENT BUILDOUT Wafer Fab Production Equipment New Part Cleaning WFE & Sub-Fab Support Equipment – Pumps, Gas & Chemical Cabinets PRODUCTION SERVICES Part Recycling & Refurb Part Cleanliness Analytics
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DEPOSITION ETCH LITHOGRAPHY IMPLANT CMP Supplying Critical Process Capabilities 6 EPITAXY ANNEAL INSPECTION WAFER CLEAN 1,000+ STEPS PER DEVICE 100’S OF TOOLS PER FAB
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Diversified Path To Market Expansion 7
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- 500 1,000 1,500 2,000 2,500 2020 2025 Revenue by Customer Lam Applied Other OEM Non-Semi Services UCT Revenue Footprint COMPANY CONFIDENTIAL | 8 $M 67% 59% - 500 1,000 1,500 2,000 2,500 2020 2025 Revenue by Region Asia North America EMEA
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Lam 40% Applied 22% Other OEM 23% Non - semi 4% Service * 11% Foundry & Logic WFE 51% Memory WFE 34% Non - semi 4% Service * 11% Industry and Customer Footprint (Q2’26) 9 * Includes low single digit OEM service revenue
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Strategic Global Footprint 10 CALIFORNIA OREGON ARIZONA COLORADO TEXAS MAINE UK KOREA CHINA PHILIPPINES TAIWAN SINGAPORE MALAYSIA CZECH REPUBLIC PRODUCTS* * Primary operational site ISRAEL SERVICES
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Total Available Market 11
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PAGE: 2030 Corporate Vision 12 Revenue of Gross Margin AI is fueling rapid technology changes • Accelerating node transitions – Architectures: GAA, BPDN, HBM, >3xxL, 4F2 – Integration: Hybrid bonding, advanced packaging • Increasing process complexity – Materials – Process technologies UCT 3.0: Trusted, strategic partner & co-innovator • Technology: innovation, alignment, customization • Operations: urgency, execution, scale UCT’s competitive advantages: Readiness & Execution Operating Margin
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UCT 3.0: Powering Performance, Innovation & People 13 Transform Business • AI • NPX Drive Operational Excellence • Ramp Readiness • Flawless Execution Expand Margin • Vertical Integration • Regional Alignment Grow Share and SAM • Technical Partnerships • Mergers & Acquisitions
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End Market Update 14 Foundry INVESTMENT FOR AI PROLIFERTION – 2nm demand sustaining accelerated investment – Globalization of leading- edge footprint continuing – Advanced packaging is capacity constrained, OSATs launching investment Logic LOGIC SPENDING ACROSS WIDER BASE – Memory shortages likely to impact consumer market demand – Investments for domestic markets continue to be a priority 3D NAND NODE TRANSITIONS DRIVING SPEND – Capacity expansion timeline pull-in expected on higher bit growth forecasts – AI datacenter SSD demand driving NAND greenfield investment DRAM PROFITABILITY SUPPORTS CAPACITY EXPANSION – HBM supply imbalance to persist into 2028 – DDR5 & HBM capacity allocation balanced to maximize profits – Expanded investment in commodity DRAM to combat shortages
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FINANCIAL UPDATE SUMMER2026
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PRODUCTS Revenue • $572.7M Gross Margin* • 15.1% Operating Margin* • 6.5% SERVICES Revenue • $72.2M Gross Margin* • 28.9% Operating Margin* • 11.2% Q2’26 Key Takeaways 16 *Non-GAAP results - Excluding intangible amortization expense, non- recurring costs and SBC TOTAL REVENUE $644.9 M GROSS MARGIN* 16.7% OPERATING CASH FLOW $(41.1)M OPERATING MARGIN* 7.0% CASH BALANCE $255.9M EPS* $0.70
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Q3’26 Guidance 17 REVENUE $700M • $750M EPS $0.83 • $1.03
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Thank You
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Reconciliation: GAAP Net Income (loss) to Non-GAAP Net Income 19 * Refer to 10k $ IN MILLIONS FY24 FY25 Q1’26 Q2’26 Net income (Loss) per GAAP basis 23.7 (181.2) (17.9) 8.7 Amortization of intangible assets (1) 30.4 28.1 6.9 6.8 Restructuring charges (2) 2.3 17.1 4.8 0.7 Stock-based compensation expense (3) 17.8 19.2 4.0 8.1 Legal-related costs (4) 2.7 1.9 - - Acquisition related costs* (5) 1.0 - - - Fair value related adjustments (6) (29.1) (0.1) - - VAT settlement (7) - (0.2) - - Debt refinancing costs expensed (8) 4.0 1.1 3.0 0.7 Impairment of goodwill (9) - 151.1 - - Unrealized (gain) loss on foreign exchange (10) 2.7 (0.3) (1.1) (1.9) Income tax effect of non-GAAP adjustments (11) (6.7) (45.7) (3.5) (2.9) Income tax effect of valuation allowance (12) 18.5 56.5 18.3 12.1 Non-GAAP net income 67.3 47.5 14.5 32.3
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Reconciliation: GAAP to Non-GAAP Earnings Per Diluted Share 20* Refer to 10k FY24 FY25 Q1’26 Q2’26 Net income (Loss) per GAAP basis $0.52 $(4.00) $(0.40) $0.19 Amortization of intangible assets (1) $0.67 $0.62 $0.15 $0.15 Restructuring charges (2) $0.05 $0.38 $0.10 $0.01 Stock-based compensation expense (3) $0.39 $0.42 $0.09 $0.18 Legal-related costs (4) $0.06 $0.04 - - Acquisition related costs* (5) $0.02 - - Fair value related adjustments (6) $(0.64) - $0.00 VAT settlement (7) - - - Debt refinancing costs expensed (8) $0.09 $0.02 $0.06 $0.01 Impairment of goodwill (9) - $3.32 - - Unrealized (gain) loss on foreign exchange (10) $0.06 $(0.01) $(0.02) $(0.04) Income tax effect of non-GAAP adjustments (11) $(0.14) $(1.01) $(0.08) $(0.06) Income tax effect of valuation allowance (12) $0.41 $1.24 $0.40 $0.26 Impact of dilutive shares (13) - $0.02 $0.01 - Non-GAAP net earnings $1.49 $1.04 $0.31 $0.70 Weighted Avg. number of diluted shares (in Millions) 45.3 45.5 46.3 46.0