ANALYST PRESENTATION 18 JUNE 2015

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ANALYST PRESENTATION

18 JUNE 2015

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Safe Harbor Statement

This presentation contains statements about management's future expectations, plans and prospects of our business that constitute forward-looking statements, which are found in various places throughout the press release, including , but not limited to, statements relating to expectations of orders, net sales, product shipments, backlog, expenses, timing of purchases of assembly equipment by customers, gross margins, operating results and capital expenditures. The use of words such as “anticipate”, “estimate”, “expect”, “can”, “intend”, “believes”, “may”, “plan”, “predict”, “project”, “forecast”, “will”, “would”, and similar expressions are intended to identify forward looking statements, although not all forward looking statements contain these identifying words. The financial guidance set forth under the heading “Outlook” constitutes forward looking statements. While these forward looking statements represent our judgments and expectations concerning the development of our business, a number of risks, uncertainties and other important factors could cause actual developments and results to differ materially from those contained in forward looking statements, including the discovery of weaknesses in our internal controls and procedures, our inability to maintain continued demand for our products; the impact on our business of potential disruptions to European economies from euro zone sovereign credit issues; failure of anticipated orders to materialize or postponement or cancellation of orders, generally without charges; the volatility in the demand for semiconductors and our products and services; failure to adequately decrease costs and expenses as revenues decline, loss of significant customers, lengthening of the sales cycle, incurring additional restructuring charges in the future, acts of terrorism and violence; inability to forecast demand and inventory levels for our products, the integrity of product pricing and protect our intellectual property in foreign jurisdictions; risks, such as changes in trade regulations, currency fluctuations, political instability and war, associated with substantial foreign customers, suppliers and foreign manufacturing operations; potential instability in foreign capital markets; the risk of failure to successfully manage our diverse operations; those additional risk factors set forth in Besi's annual report for the year ended December 31, 2014 and other key factors that could adversely affect our businesses and financial performance contained in our filings and reports, including our statutory consolidated statements. We are under no obligation to (and expressly disclaim any such obligation to) update or alter our forward-looking statements whether as a result of new information, future events or otherwise.

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Agenda

I. Company Overview

II. Market

III. Technology Update

IV. Operations Review

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Besi Overview

• Leading assembly equipment supplier with #1 and #2

positions in key products. 28.5% addressable market share

• Broad portfolio: die attach, packaging and plating

• Strategic positioning in substrate and wafer level packaging

• Global mfg. operations in 7 countries; 1,680 employees

worldwide. HQ in Duiven, the Netherlands

Corporate Profile

• LTM revenue and net income of € 403.7 and € 81.6 million

• Cash at 3/31/15: € 161.6 million

• Total debt at 3/31/15: € 28.4 million

• € 114 million of dividends and share repurchases since 2011

Financial Highlights

• Growth of <20 nano advanced packaging, smart phones,

wearable devices, auto electronics, IoT and market share

gains offer revenue upside

• Significant unrealized earnings potential from optimization of

Asian production, supply chain efficiencies and development

of common parts/platforms

(6)

Stock Price Information

• Approximate € 900 million market capitalization

• Upgraded to Euronext AMX mid cap index on March 23, 2015 Market profile has improved significantly:

• Average daily volume: • 2013: 99,811

• 2014: 117,084 • 2015: 219,887

Liquidity has increased over past three years:

• Top 10 shareholders = 30% of shares outstanding. Down from 60% in 2011 • Largest shareholder less than 7% currently

Share concentration has reduced:

• 40% NL • 30% US

• 30% Europe ex NL

Geographic ownership has diversified:

• 6.6% currently

• Dividend payout ratio of between 40-80% net income per annum Highest dividend yield among peers

(7)

Summary Strategy

• Continue enhancing best in class <20 nano assembly equipment portfolio

• Expand tech capabilities and applications for TCB line

• IoT and wearables have potential to significantly expand addressable market

Develop new products and markets

• Leverage <20 nano expertise in flip chip, molding, multi module attach to further penetrate

largest smart phone supply chains and expand in Chinese handset market

• Apply TCB tech advantage to more mainstream applications

• Flip Chip/Wire Bond conversion for advanced applications can further grow market share

Increase market share in addressable markets

• Expand Asian materials sourcing and direct shipments

• Expand Malaysian and Singapore operations. Increase Chinese die bonding production

• Develop common platforms, common modules and common parts

• Continue to reduce euro based costs. Better align USD/CHF/EUR exposure

Achieve a more scalable, flexible and lower cost manufacturing model

• Expand tech leadership in advanced packaging including wafer level assembly

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Die Bonding 39.7% Flip Chip 15.8% Die Sorting 3.0% Singulation 9.3% Presses 11.2% Molds 13.5%

Lead Trim & Form 5.5%

Plating 2.0%

Assembly Equipment Market Composition

• Half of assembly market represented by die attach and wire bonding equipment

• Die Attach represents Besi’s largest addressable market

Die Attach 59% Packaging 39% Plating 2%

Assembly Equipment Market *

(2014: $4.0 billion)

Besi Addressable Market *

(2014: $1.7 billion)

* Source: VLSI May 2015 Wire Bonding 21.7% Die Attach 29.7% Packaging 21.8% Plating 0.9% Other Assembly (Inspection, Dicing) 25.9%

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Assembly Equipment Market Trends

• VLSI forecasts flat growth in 2015 and 2016 after big 2014 increase as capacity digested

• Growth reaccelerates in 2017 and 2018

• Besi revenue growth exceeding assembly market in 5 of past 6 years 326.9 273.7 254.9 378.8 70.0 94.9 -16.3% -6.9% 48.6% 35.6% -50% 0% 50% 100% 150% 100.0 200.0 300.0 400.0 2011 2012 2013 2014 YTD 2014 YTD 2015 (€ m il li o n s )

Besi Revenue

Revenue YoY Growth Rate

4.4 4.0 3.1 4.0 4.0 _3.9 4.6 4.9 4.8 -9.2% -22.4% 29.1% 1.6% -2.5% 16.3% 7.7% -2.3% -30% -20% -10% 0% 10% 20% 30% 40% 0.0 1.0 2.0 3.0 4.0 5.0 6.0 2011 2012 2013 2014 2015F 2016F 2017F 2018F 2019F (U S $ b il li o n s )

Assembly Equipment

Market Size YoY Growth Rate

(11)

Advanced Packaging Unit Volume and Market

Share Are Increasing

• Advanced Packaging (Flip Chip/WLP) is fastest growing assembly process

• In growth phase with move to <20 nano internet device applications

Source: VLSI February 2015

10% 13% 19% 26% 31% 32% 34% 35% 37% 38% 0% 5% 10% 15% 20% 25% 30% 35% 40% 5 10 15 20 25 30 35 40 45 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 A P M a rke t S h a re % M w a fe rs, 3 0 0 M M E q .

Advanced Packaging Silicon Demand Growth & Market Share 2010 - 2019

Advanced Packaging Wafers

Advanced Packaging Unit Market Share (%)

CAGR 2010-2019: 21.1% CAGR 2014-2019: 10.3%

(12)

Driven Primarily by Growth in Internet Connected

Devices

• 35% CAGR device growth

forecast over next 5 years

• Powered primarily by devices

used for IoT

• Positive trajectory for smart

phones, tablets, wearables,

and automotive

• Significant potential revenue

growth driver

(13)

• Spending on <25 nano nodes has increased from ~15% in 2011 to an estimated 70% of

total spending in 2015

• Node shift below 20 nano = new assembly equipment capacity

Which Has Significantly Increased Semi

Equipment Spending for < 25 Nano Nodes

(14)

New Smart Phone Designs Increase Besi’s

Addressable Market Potential

•

Besi systems can assemble 50% of 2012 generation components and 70% of 2014 generation components

- New Main Components

Generation 2012

Generation

2014 Manufacturer IDM/OSAT Besi system Utilized

Processor X X Apple TSMC ->Amkor/Stats/ASE 8800FCQ, AMS-W/LM

DRAM Memory X X Hynix/Micron Hynix/Micron 2100sD, FSL

NAND Flash X X Hynix/Toshiba Hynix/Amkor/Toshiba 8800FCQ, AMS-W/LM Power Management

Apple PM IC X Dialog Dialog 2100sD

PMIC X X Qualcomm N/A

M3 Microcontroller X NXP Amkor/NXP 8800FCQ, AMS-W/LM

Accelerometer/Gyroscope/Barometric

Gyroscope X X Invensense Amkor/ASE/STM 2100xP, 2100sD, AMS-W/LM, FCL

3-ax accelerometer X Bosch Bosch evo

barometric sensor X Bosch Bosch evo

Communications Generation 2012

Generation

Wifi/NFC

Wifi module X X Murata Murata Murata's equipment

NFC X NXP Amkor 8800FCQ, AMS-W/LM

NFC Booster IC X AMS Daca N/A

LTE

LTE Modem X Qualcomm Amkor/Stats/Spil/ASE 8800FCQ, AMS-W/LM Low Band LTE PAD X Skyworks Skyworks 2200evo, FSL

Mid Band PAD X Skyworks Skyworks 2200evo, FSL

High Band PAD X Avago ASE/Amkor 2100xP, 2100sD, AMS-W/LM Receiver/Transceiver

RF Transceiver X X Qualcomm Amkor 2100xP, 2100sD, AMS-W/LM

RF Receiver X X Qualcomm N/A

Envelop Tracking IC X Qualcomm TSMC ->Amkor/Stats/ASE 8800FCQ, AMS-W/LM

Antenna Switch X X RFMD Amkor/ASE,/RFMD 2100xP, 2100sD

PA

PA X X Avago ASE/Amkor 2100xP, 2100sD, AMS-W/LM

PA Module X Triquint ASE 2200evo, 2100sD

Video/Audio Generation 2012

Generation

Camera

Back side 8M (OSI) X X Apple LG, Sharp, Mitsumi 2200evo

Front 1.2M X X Apple Cowell, Sony 2200evo

Finger print sensor X Apple ASE 2200evo

Audio

2+4 microphones X ST ST 2100 xp

Audio Codec X X Cirrus Logic Amkor 2100xP, 2100sD, AMS-W/LM Touch screen control

Touch screen control X X Broadcom Signetics 2100sD

(15)

Flip Chip/Wire Bond Process Shift Is Another

Revenue Opportunity

Wire Bonding Flip Chip Bonding

Reduces board area

by up to 95%.

Requires far less

height

Offers higher speed

electrical

performance

Greater I/O

connection flexibility

More durable

interconnection

method

Lower cost for high

volume production,

with costs below

$0.01 per connection

Flip Chip Advantages

* Source: VLSI May 2015

• Move to <20 nanometer can only be accomplished by

use of flip chip die bonding vs. wire bonding process

• Flip chip revenue represents only 29% currently of total

potential market of $1.2 billion

• Flip chip expected to gain share over next 5 years

• Growth could accelerate depending on adoption rates by

key IDMs/subcons

CAGR 2014 - 2019* Flip Chip 7.4% Wire Bond 2.9% Flip Chip $508 34% Wire Bonding $994 66%

2019*

Flip Chip $356 29% Wire Bonding $861 71%

2014*

(16)

Besi Has Gained Share In Its Addressable Markets

• Gaining share in fastest growing segments of the assembly equipment market:

• Flip chip and multi module die attach and ultra thin molding for advanced

packaging applications

Besi Market Share

Source: VLSI, May 2015 and Besi estimates

2012

2013

2014

Total Assembly Equipment Sales

8.6%

10.6%

12.7%

Besi Addressable Market

21.4%

26.0%

28.4%

Total Die Attach Equipment

26.8%

31.2%

34.7%

Die Bonding

29.7%

39.2%

38.7%

Flip Chip

22.2%

24.4%

31.8%

Other

17.1%

4.8%

9.1%

Total Packaging Equipment

11.1%

15.9%

16.4%

Molds

12.0%

19.1%

19.5%

Lead Trim & Form

15.0%

17.6%

19.0%

Singulation

5.3%

5.1%

6.8%

(17)

• Customers are largest semi mfrs.

•Engaged in most advanced packaging applications

• Strong customer market shares:

•≈50 - 100% of die attach requirements

•≈25 - 100% of packaging requirements

• Customer market shares p.a. vary based on capacity needs and purchasing cycles

• Primary competition:

•Die Attach: ASM-PT, Hitachi, Shinkawa, Panasonic, Toray

•Packaging: Towa, Hanmi, ASM-PT

And With Leading Edge Technology Customers

N/B No reported bookings for Besi or its competitors a) Year to date through April 30, 2015

b) Merger pending

c) Fabless semiconductor companies such as Qualcomm, Broadcom and Mediatek have assembly production done by subcontractors

d) In general, Samsung satisfies approximately 50% of its equipment needs internally

Die Attach Packaging

In USD 2012 2013 2014 2015 (a) 2012 2013 2014 2015 (a)

Subcontractors ASE 67% 59% 69% 74% 36% 65% 36% 28% Amkor 75% 84% 89% 100% 45% 11% 22% 38% JCET (b) 75% 48% 67% N/B 0% 8% 0% N/B STATSChippac (b) 95% 100% 85% N/B 28% 100% 100% N/B SPIL 47% 93% 89% 100% 37% 76% 19% 38% Nantong Fujitsu N/B 72% 100% 100% N/B 14% 0% 100% UTAC N/B N/B 100% 100% N/B 100% N/B 100% Unisem 92% 84% 100% 100% N/B N/B N/B N/B Cowell/Foxconn 100% N/B 100% 100% (Camera Modules) N/B N/B N/B N/B IDMs (c) Skyworks 100% 96% 100% N/B 13% 24% 38% 100% ST Micro 91% 72% 78% 94% 44% 76% 42% 46% Infineon 81% 97% 100% 100% 0% 24% 90% 100% Micron 86% 100% 43% 42% 50% N/B 100% 100% NXP N/B 100% 100% 100% N/B 7% 100% 86% Samsung (d) 5% 0% N/B N/B 0% 100% N/B N/B % of product revenue 49% 52% 64% 51% 54% 70% 65% 70%

(18)

Besi 2015/2016 Growth Drivers

• Significant growth < 20nm end user applications: IoT, wearables

• Increased TCB usage: memory applications currently, logic devices next

World tooling up for new tech cycle

Larger addressable market from increased smart phone

functionality and new device introductions

• Chinese handset market: IDMs/Xiaomi, Mediatek, Huawei.

Subcons/JCET, Nantong Fujitsu, ASE, Amkor

Increased market penetration

• In key electronics supply chains

• Primarily at expense of Japanese suppliers lagging in innovation cycle

• Flip chip and TCB gaining share from Wire Bond assembly processes

• Consolidation offers positive opportunities with semi manufacturers

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Best in Class Product Portfolio

• Molding

-

AMS series

-

AMS LM 95

-

MMS series

-

FML

• Die Bonding

-

2100 xP

plus

-

2100 sD

plus

-

2100 sD PPP

plus

-

2100 hS

-

2009 SSI

-

2100 DS

-

2100 SC

Die Attach

Packaging & Plating

• Multi Module Die

Attach

-

2200 evo

-

2200 evo plus

• Flip Chip

-

8800 FCQ Sigma

-

8800 CHAMEO

-

8800 TCB

-

2100 FC

• Trim & Form

-

Compact series

-

Power series

-

Compact Line XHD

New

• Plating

-

Leadframe

-

Solar

-

Film & Foil

In Development

• Next generation Die Attach

• Next generation Packaging

• Common modules

Datacon/Esec Datacon Esec Fico Meco Fico New Fico •

Singulation

- FSL

New New •

Die Sorting

- DS 9000E

- WTT

- TTR

- DLA

Datacon New New New New New New

(21)

Besi Assembly Process Technology Steps

• Sorting and mounting chips

on substrate materials

• Establish electrical interconnects

• Molding/encapsulation in

packages

• Singulation/trim and form of packages

• Electro plating of leadframes,

substrates and solar cells

• Flip chip, TCB and multi module

die bonding and ultra thin molding

are key core competencies

(22)

Internet of Everything is Driving Advanced

Packaging Growth

Source: Intel

Key End Use Applications:

• Mobile internet devices

• Connectivity

• Computing power

• Big Data Analytics

• Automotive

(23)

Requiring Changes in Process/Equipment

Development

Today=> Tomorrow

Front End

Transistor Scaling

Lithography

New Structures 3D

Back End

More Contacts

Smaller Pitches

Thinner/denser

more complex packages

(24)

Thin Die Usage Is Becoming Increasingly More

Important in Key End Use/Process Applications

Memory

Power

Flip Chip

Drivers

Increased volume

Increased density

Vertical stacking to

compensate for

slower lateral shrink

Thermal Conductivity

Lower resistance

Thinner packages

Current Die

Thickness

22 um

40 um

100 um

Future spec

< 15 um

25 um

50 um

Examples

(25)

Besi Is Winning in Thin Die Arena

DB 2100 Example

2100 sD

plus

_/

2100 sD PPP

plus

Technology

Besi Spec

Competition

Disc based

Thin Die

Ejector

No

Dual Step

Fusion

Die Bonding

No

Fast Change

over

Dual Mode

No

Die Crack

Detection

No

High Speed &

High Accuracy

15.000 & 10 um

(26)

Thermo Compression Bonding Is An Emerging

Assembly Technology

TCB: Next Die Bonding Process Evolution:

• Besi has most advanced concept in the industry

• 7 Axis bondhead

• 2 bond heads per system

• High throughput => 2x competition

• Compact design

• User friendly

• Orders/production significantly expanded in 2015

• Memory producers first adopters

• Principal competition: ASM PT, KLIC (in development) TORAY SHINKAWA

• Production transferred to Besi APac to reduce cost

(27)

TCB Solution in Advanced Memory Cube

Application

P

e

rf

o

rm

a

n

c

e

Time

Issue: Memory performance lags CPU performance

Solution: Advanced stacking design using TCB

with TSV capabilities

• 15x Higher transfer speeds

• 70% Less energy per bit

• 90% Less space

• Wire bonding process eliminated

Connected using Thermal Compression Bonding

Gap

In performance

CPU-Memory

Wire Bond connections replaced by direct connection

Wire Bonded BGA Stacked

Die Memory Device

TSV TCB

Memory Cube

(28)

eWLB Is Another Emerging Die Bonding

Technology

eWLB = Embedded Wafer Level Ball Grid Array

Utilized for extremely small form factors such as

logic processors

Besi Chameo FC 8800 only proven system to

relocate up to 40,000 chips on carrier very

precisely over whole 12“ wafer at high speed

and accuracy (<2um)

• Besi‘s expanded wafer size thin molding and

exposed die molding eliminates mold back

grinding

(29)

Besi Packaging Technology Update

Key Packaging

Trends

Besi Spec

Competition

Ultra thin molding

.12 mm

One step

No warpage

.2 mm

2 steps

Negative

Narrow underfill

30 um proven

40 um

Exposed dies

Foil based, no further

process steps

Back grinding step

required

Shielding

Flexible FSL concept

Limited flexibility

Larger wafer sizes

340x340 mm

Same

(30)

Besi Offers Leading Edge Molding Technology

First Generation

Product designed around SMT board and

standard package

• Package is square or right angular

• Standard functionalities

Current Generation

SMT board dictated by product design.

Packages become thin and multifunctional

• Very thin moldcap (<120 um)

• Narrow underfill for flip chip packages (<30um

)

Next Generation

Package is defined by product

• Package has odd shapes to fit in device

• More MEMS devices => exposed die

• Shielding of products to prevent communication interference

First Generation

Current Generation

Evolution

Integration

Next Generation

(31)

Ultra Thin Molding Is Critical Assembly

Packaging Process Technology

• Shift to <28 nano advanced electronics

applications has increased Besi’s AMS-LM

revenue by 100%+ over past two years

• Besi AMS-LM only system which can deliver

these specs

• Currently qualified for ALL 2015 tablet and smart

phone platforms

Key Features:

• Can reach .12 mm overall package thickness

• One step molding of molded underfill and bleed

free products

• Flash and bleed free product

• No warping

• Mold cap polarities of +/- 5 um

June 2015

Ultra Thin Molding exposed

die with underfill TCB

(32)

Wafer and Large Area Molding Is Another

Important Process Development

Besi has most advanced molding capabilities in

the industry:

• Large area molding up to 340 mm x 340 mm

• eWLB and C2 wafer applications

• Overmolded and exposed capabilities

• Exposed solder balls

• Glass and silicon interposer molding

• Thin moldcap moving to <250 mm

(33)

Key Development Objectives - Timetable

Development Objectives

Advanced TCB die bonding

development

Introduction of next generation

packaging systems

Common parts/platform activities

(34)

Summary

• Semiconductor packaging plays an increasingly important role in electronics

as IC devices get smaller, denser and more complex with increased

functionality

• In new technology cycle due to the Internet of Everything

• Besi product portfolio and process technology is at forefront of advanced

packaging trends

(35)

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Current Operational Profile

as of 31 March 2015

Europe/NA

Asia

Revenue (MMs)

€ 33.2

35.0%

€ 61.7

65.0%

Headcount

664 39.5%

1,016

60.5%

• Development activities in Europe

• Production and sales/service activities in

Asia

Sales Office

Production Site

Sales & Production Site

* R&D Site

Leshan Chengdu ShanghaiKorea Taiwan Philippines Malaysia Singapore* Suzhou Radfeld, (Austria)* Cham, (Switzerland)* Duiven & Drunen, (The Netherlands)*

Chandler

(37)

Asian Production Has Significantly Expanded

396 487 658 673 963 170 331 553 579 927 42.9% 68.0% 84.0% 86.0% 96.3%

0.0%

10.0%

20.0%

30.0%

40.0%

50.0%

60.0%

70.0%

80.0%

90.0%

100.0%

200

400

600

800 1,000

1,200

2010

2011

2012

2013

2014

%

D

ir

e

c

t

S

h

ip

m

e

n

ts

S

h

ip

m

e

n

ts

(38)

Leading to Lower European Headcount

• Fixed European/North American

headcount reduction:

• Down 19.4% since 2011

• Declined from 56% of total in 2009 to

39% at Q1 2015

741 ₆₈₀ 624 ₆₀₂ ₅₉₇ 802 799 810 908 933 1,543 1,479 1,434 1,510 1,530

200

400

600

800 1,000

1,200

1,400

1,600

1,800

2011

2012

2013

2014

Q1 2015

H

e

a

d

c

o

u

n

t

Europe/NA Fixed HC

Asia Fixed HC

Total

52% 48% 54% 46% 56% 44% 60% 40% 61% 39%

(39)

And Also Reduced Break Even Revenue Levels

270

235

212 ₂₀₇

50

100

150

200

250

300 2011

2012

2013

2014

(€

m

il

li

o

n

s

)

(13.0%)

(9.8%)

(2.4%)

(40)

Key Operational Objectives

Operational Objectives

Transfer of certain Swiss Die Attach

software, logistics and administrative

functions to Singapore

Transfer of certain die bonding

production from Malaysia to China

Transfer of Plating Production from NL

to Malaysia

Further reduction of European based

costs

Expansion of Asian supply chain.

System module outsourcing

(41)

Besi Switzerland/Singapore Function Transfer

• Transferring certain die attach software engineering,

logistics and related admin functions by end of Q4-15

• Swiss headcount to be reduced by 55 people or 40%

• Singapore headcount to increase from 75 to 125 people

• Current Singapore facility of 17,800 sq. ft.

Minimal additional capex necessary

• Annualized cost savings of approximately € 6.5 million

• Includes € 0.5 million of Cham CH facility savings

• Total net pre-tax restructuring benefit of € 3.7 million

recorded in Q1-15

• Pension related curtailment gain of € 5.3 million

• Partial offset: restructuring charges of € 1.6 million

(42)

Besi China Die Bonding Production Transfer

74,000 sq. ft. Leshan facility principally manufactures

molds, mold sets and spare parts. 257 employees

currently

Transferring DB 2100 SD epoxy die bonding production

for the Chinese market from Malaysia to Besi China

• Locate production closer to end customer with potential for

incremental revenue

• To be completed by year end 2015

• Potential annualized cost savings: € 1.0 million/annum

• Capex requirement: € 0.3 million

(43)

Plating Production Transfer from NL to Malaysia

• Transfer underway to move plating production from

Drunen, NL to Malaysia facilities by end of 2015

• Intellectual property and engineering to remain in Drunen

• Benefits:

• Increase manufacturing flexibility

• Reduce cycle times

• Increase revenue potential with direct Asian presence

• No material restructuring costs required

• Potential 5%+ gross margin improvement on plating

production in 2016

(44)

Further Reduction of European Based Costs

• Total of 574 fixed European headcount at March 31,

2015

• Approx. 10% headcount reduction by year end 2015

Further reduction of European

personnel costs

• 4 European facilities currently

• Duiven NL

154,000 sq. ft. (leased)

• Drunen NL

53,000 sq. ft. (leased)

• Cham, CH

83,500 sq. ft. (leased)

• Radfeld, AU

125,400 sq. ft.(owned)

Total

415,900 sq. ft.

• Reducing footprint of Duiven and Cham facilities by

111,500 sq. ft. (27%) by end of 2016

• Potential annualized cost savings of € 1.5 million, net

Achieve cost savings from facility

consolidation

Besi Switzerland

Besi Austria

Besi Netherlands

Duiven

Besi Netherlands

Meco Drunen

(45)

Materials Cost Reduction Is Also a Key Priority

• Qualify and Select Asian Vendors

• 75% of material is now purchased in Asia

Supply Chain Actions

• Redesign products

• Increase standardization of systems

• Component parts

• Modules

Development Actions

45-50% thru

cycle Gross

Margin

• Material costs represent approximately 45% of revenue

• Shift to Asia centric supply chain:

• Reduces transport, inventory costs and obsolescence

• Improves cycle time and ramping flexibility

(46)

Asia Supply Chain Transfer Progress

Estimated savings 2014 2015E 2016 - 2017E

Headcount € 0.9 MM € 2.8 MM € 1.0 MM

Materials Cost € 2.7 MM € 1.6 MM € 1.5 MM

Subtotal € 3.6 MM € 4.4 MM € 2.5 MM

2015 Focus

2016 - 2017 Focus

DB Spares & Module

Assembly

Completed in 2015

Transfer Plating

NL-MY

Completed in 2015

Transfer DB 2100

MY-China

Extend Supply Chain inside China

Start transfer DB 2009 and EVO

MY-China

Swiss/MY transfer

Transfer last remaining modules possible to

Asia

WB Spares & Module

Assy

(47)

(48)

€ 70.0 € 94.9 10.0% 18.5% 0% 5% 10% 15% 20% 25% 30% 35% 40% 45% 50% 55% 60% 65% 70% 75% 80% 85% 90% 95% € 0 € 25 € 50 € 75 € 100 Q1 2014 Q1 2015 N e t m a rg in % € m ill io n s

Revenue Net Income

Gross Margin

OPEX

Headcount

Effective Tax Rate

11.6% 12.9% 1,569 1,680 € 21.5 MM € 25.3 MM +111 +1.3 points +17.6% 42.3% 49.0% +35.6% +8.5 points

Q1-15/Q1-14

FY 2014/FY 2013

+6.7 points € 17.5 € 254.9 € 378.8 6.3% 18.8% 0% 5% 10% 15% 20% 25% 30% 35% 40% 45% 50% 55% 60% 65% 70% 75% 80% 85% 90% 95% 0 € 50 € 100 € 150 € 200 € 250 € 300 € 350 € 400 €

2013

2014

N e t m a rg in % € m ill io n s

Revenue Net Income

Gross Margin

OPEX

Headcount

Effective Tax Rate

15.8% 0.3% 1,458 1,632 € 82.7 MM € 93.8 MM 39.8% 43.8% +174 -15.5 points +13.4% +4.0 points +48.6% +12.5 points € 71.1 € 16.1 € 7.0

Revenue Growth and Margin Expansion Yield

Increased Profitability

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• Cyclical quarterly revenue/order patterns:

•Three cycles past 3 years

•Short term patterns due to customer caution and increased seasonality

•2014 year end shows higher base line order levels than prior years

• Gross margins have improved despite cyclicality:

•Increased scalability of production model

•Shift to higher margin advanced packaging systems

•Lower unit costs due to:

•Asian production transfer

•More direct shipments

•Reduction in European personnel

•Favorable USD/euro starting in H2-14

Revenue/Order/Gross Margin Trends

72 65 53 70 116 104 89 94.9 83 48 57 111 124 91 81 104.2 40.4% 39.2% 40.1% 42.3% 43.2% 45.3% 43.8% 49.0% 48.2% 35.0% 40.0% 45.0% 50.0% 55.0% 60.0% 20 40 60 80 100 120 140 Q2-13 Q3-13 Q4-13 Q1-14 Q2-14 Q3-14 Q4-14 Q1-15 G ro ss M a rg in % e u ro i n m ill io n s Revenue Orders

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Net Income Trends

7.0 3.4 12.2 14.2 (0.5) (2.0) 7.5 3.3 6.5 4.4 1.4 7.0 22.9 21.5 19.7 17.5 9.0% 6.8% 2.7% 10.0% 19.7% 20.8% 22.2% 18.5% -25% -15% -5% 5% 15% 25% 35% (3) 0 3 6 9 12 15 18 21 24 Q2-13 (a) Q3-13 Q4-13 (a) Q1-14 Q2-14 Q3-14 Q4-14 (a) Q1-15 (a) (e u ro i n m ill io n s )

Net Income ex. NR Non Recurring Net Margin

• Quarterly net income trends reflect industry and seasonal volatility

• Profit/margin increase aided by revenue growth, through cycle gross margin expansion and opex leverage in business model

• Significant reduction in effective tax rate has also helped

• Net margin of 18.5% in Q1-15, up significantly from 10.0% in Q1-14

(a) Adjusted to exclude:

• After tax net restructuring (Q1-15)

• Deferred tax benefits (Q4-14)

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Forex Influence on Recent Quarterly Operating

Results

Currency Exposure (2014)

Forex Financial Impact

(Q4-14 and Q1-15)

Revenue Cost and Expenses Euro 34% 28% US dollar 65% 4% Swiss franc - 20% Malaysian ringgit - 40% Other 1% 8% Total 100% 100% Q1-15 vs Q4-14 Q4-14 vs Q3-14 Mln Euro Margin Mln Euro Margin Revenue +7.8 +3.8 (USD/EUR) COGS -3.3 -1.8 (USD/EUR) -2.3 -0.1 (MYR/EUR and CHF/EUR) -5.6 -1.9 Gross Profit 2.2 +2.4% 1.9 +2.2% Opex -1.0 0 (CHF/EUR) Net +1.2 +1.9

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Liquidity Trends

• Solid liquidity position

•€ 161.9 million cash at 3/31/15

•€ 4.29 per share vs. € 29.87 price (as of March 31, 2015)

•Net cash reached € 133.1 million at end of Q1 2015

• Has Been Utilized to Enhance Shareholder Value

•€ 114 million spent on cash dividends and share repurchases 2011-2015

•Includes May dividend payment

• Strong balance sheet helps support future organic growth and acquisition opportunities 81.1 _78.5 89.6 91.9 83.8 105.4 135.3 161.6 24.9 _22.5 18.6 19.1 21.3 19.3 _17.3 28.5 56.2 56.0 71.0 72.8 62.5 86.1 118.0 133.1 0 20 40 60 80 100 120 140 160 180 Q2-13 Q3-13 Q4-13 Q1-14 Q2-14 Q3-14 Q4-14 Q1-15 (e u ro i n m ill io n s )