#1Veeco MAKING A MATERIAL DIFFERENCE Investor Presentation May 2021 NASDAQ WELCOMES LEECO INSTRUMENTS Veeco VECO Nasdaq Listed Nasdaq#2Safe Harbor This presentation contains "forward-looking statements", within the meaning of the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995, as amended, that are based on management's expectations, estimates, projections and assumptions. Words such as "expects," "anticipates," "plans," "believes," "scheduled," "estimates" and variations of these words and similar expressions are intended to identify forward-looking statements. Forward-looking statements include, but are not limited to, those regarding anticipated growth and trends in our businesses and markets, industry outlooks and demand drivers, our investment and growth strategies, our development of new products and technologies, our business outlook for current and future periods, the impact of the COVID-19 pandemic, our ongoing transformation initiative and the effects thereof on our operations and financial results; and other statements that are not historical facts. These statements and their underlying assumptions are subject to risks and uncertainties and are not guarantees of future performance. Factors that could cause actual results to differ materially from those expressed or implied by such statements include, without limitation: the level of demand for our products; global economic and industry conditions; the effects of regional or global health epidemics, including the effects of the COVID-19 pandemic on the Company's operations and on those of our customers and suppliers; global trade issues, including the ongoing trade disputes between the U.S. and China, and changes in trade and export license policies; our dependency on third- party suppliers and outsourcing partners; the timing of customer orders; our ability to develop, deliver and support new products and technologies; our ability to expand our current markets, increase market share and develop new markets; the concentrated nature of our customer base; our ability to obtain and protect intellectual property rights in key technologies; our ability to achieve the objectives of operational and strategic initiatives and attract, motivate and retain key employees; the variability of results among products and end-markets, and our ability to accurately forecast future results, market conditions, and customer requirements; the impact of our indebtedness, including our convertible senior notes and our capped call transactions; and other risks and uncertainties described in our SEC filings on Forms 10-K, 10-Q and 8-K, and from time-to-time in our other SEC reports. All forward-looking statements speak only to management's expectations, estimates, projections and assumptions as of the date of this presentation. The Company does not undertake any obligation to update or publicly revise any forward-looking statements to reflect events, circumstances or changes in expectations after the date of this presentation. 2 Investor Presentation | 2021 Veeco Instruments Inc. Veeco#3Who is Veeco Patents >500 Employees 950+ Global provider of semiconductor capital equipment that addresses complex materials challenges Differentiated portfolio of high-value technology that has evolved with market trends Q1 '21 Revenue $134M Leading positions across four key end markets, with opportunities for expansion into adjacent markets and applications Inn$ Financial strength and flexibility 3 Investor Presentation | 2021 Veeco Instruments Inc. Veeco#4Strong Performance Amidst COVID-19 Pandemic Maintaining Business Resiliency ■ "Essential Status" - all facilities are operational Maintaining customer service levels and providing remote support where possible ■ Proactively identifying supply gaps and alternate sourcing where required ■ Virtual factory acceptances Well Positioned for 2021 ■ 2021 expected growth supported by healthy backlog ■ Sufficient liquidity ■ Extended debt maturities out to 2023-27 ■ Veeco team is experienced managing through cycles ■ Maintaining flexibility Taking health and safety measures to protect employees Active management oversight and execution through COVID-19 has prioritized health and safety while enabling progress on our transformation 4 Investor Presentation | 2021 Veeco Instruments Inc. Veeco#5Evolution Aligned with Market Opportunities 1990s & 2000s 2010-2011 2017 Data Storage Ion Beam Deposition & Etch of magnetic material for HDD heads LED GaN MOCVD for LCD backlighting & general lighting applications Ultratech Acquisition Leader in Laser Annealing and Advanced Packaging Lithography 2018 2019/2020 & Beyond Exited Commodity LED Business Foundation to transform business toward higher- margin growth opportunities Two-Phase Transformation Phase Complete Reorganize company Reduce spending Divest non-core product line. Phase II - Progressing Execute 2021 growth Invest for 2022 & beyond: Evaluations Service R&D Track record of innovation to address changing market dynamics and capitalize on emerging market trends 5 Investor Presentation | 2021 Veeco Instruments Inc. HDD Hard Disk Drive LED - Light Emitting Diode GaN Gallium Nitride MOCVD - Metal Organic Chemical Vapor Deposition LCD Liquid Crystal Display: Veeco#6Recent Accomplishments ■ Completed Functional Reorganization ○ Functional Structure, New CFO and Head of Sales & Service o Optimized R&D Investments ■ Divested Non-core Product Line Improved Operating Performance (GM%, Opex %, Op Inc.%) Improved Liquidity and Capital Structure Extending Debt Maturity Profile ■ Enhanced Board & Corporate Governance o Appointed independent Chair 。 Second female board member, appointed in 2019, assigned to Audit Committee o Commenced search for racially or ethnically diverse Board member ■ Published Inaugural Sustainability Report Bolstered Veeco United Culture ■ Positioned for 2021 Revenue Growth o Strong Backlog o Laser Annealing, 5G RF, Data Storage Veeco LSA201” ■ Solidified Multi-Year Growth Strategy and Prepared for Growth in 2022 and Beyond o Invested in Evaluation Systems, service capability, R&D for growth in: o Semiconductor and Compound Semiconductor Markets Veeco MAKING A MATERIAL DIFFERENCE VEECO UNITED SUSTAINABILITY REPORT Issued 2020 www.VEECO.com Significant progress executing transformation plan with focus on long-term profitable growth 6 Investor Presentation | 2021 Veeco Instruments Inc. Veeco#7Our Customers Drive the Trends Semiconductor tsmc SAMSUNG SK hynix (intel) Advanced Semiconductor Engineering. Inc. TEXAS INSTRUMENTS FOUNDRIES IBM® Infineon BPIL Micron Compound Semiconductor IQE EPISTAR LUMENTUM Amkor Technology Powertech Aledia PTI Technology Inc. QUALCOMM transphorm gorvo IPG PHOTONICS IIVI Innovative displays ON Data Storage SEAGATE TDK Headway Technologies, Inc Scientific & Industrial Fraunhofer 國立交通大學 1896 National Chiao Tung University Sandia National Laboratories EMENT NIST National Institute of Standards and Technology. U.S. Department of Commerce Cornell University OSRAM BROADCOM® ON Semiconductor M Veeco is a long-term partner of industry leaders driving today's megatrends in each of our markets 7 Investor Presentation | 2021 Veeco Instruments Inc. Veeco#8Significant Market Opportunities End-Market Served Primary Drivers Semiconductor High Performance Computing Compound Semiconductor 5G/Power / Photonics / MicroLED Primary Veeco Technologies Laser Annealing Ion Beam/AP Lithography Wet Processing Wet Processing MOCVD Data Storage Cloud/Data Center Ion Beam Scientific & Other University & Government Research MBE/ALD/Ion Beam Well positioned to drive near and long-term growth 8 Investor Presentation | 2021 Veeco Instruments Inc. AP Advanced Packaging MBE ALD Atomic Layer Deposition Veeco Molecular Beam Epitaxy#92021 Evaluation Landscape Number of Eval Systems by End-Market Shipped / Under Evaluation Forecasted 93 US (2) Semiconductor 5 3 Asia (8) Compound Semiconductor 1 1 10 evaluation systems in key markets at leading semi and compound semi customers 9 Investor Presentation | 2021 Veeco Instruments Inc. Veeco#10Semiconductor Solutions with Laser Annealing Market Drivers ■ Artificial Intelligence High Performance Computing Graphical Processing Units LSA101 Veeco The Veeco Difference Veeco's Laser Annealing systems allow customers to perform their annealing steps with great accuracy ■ Very high temperatures over precise geometries ■ Extremely short durations ■ Minimal wafer defects Current status: ■ PTOR at ≤7nm with 2 customers Won third application with existing customer ■ Making progress with: о Next nodes at existing customers о An additional logic customer o Early-stage engagement with memory customer 10 Investor Presentation | 2021 Veeco Instruments Inc. >90nm 90-40nm 40-14nm <10nm Semiconductor Node Enabling Advanced Nodes Furnace Anneal Rapid Thermal Processing Laser Annealing Melt Veeco Anneal Time Hours Minutes Seconds Milliseconds Microseconds Nanoseconds PTOR Process Tool of Record Veeco#11EUV Mask Blank for Semiconductor End-Market Market Drivers ■ Artificial Intelligence High Performance Computing ■ Autonomous Driving Primarily logic and early interest from memory end customers The Veeco Difference Veeco supplies best-in-class lon Beam Deposition systems to the EUV Lithography mask blank suppliers for the semiconductor industry HOYA AGC Increasing Transistor Density Enabling Advanced Nodes 28nm 14nm 10nm 7nm 5nm EUV Lithography Multi Patterning Single Patterning EUV Adopters* SAMSUNG tsmc (intel) *Source: Semiconductor Engineering EUV Extreme Ultraviolet Veeco 11 Investor Presentation | 2021 Veeco Instruments Inc.#12Advanced Packaging Solutions with Lithography Market Drivers ■ Artificial Intelligence ■ Automotive Mobility Graphical Processing Units AP300 Necco The Veeco Difference Veeco's Advanced Packaging Lithography is the process of choice: ■ Fan-out wafer level packaging at top foundries and OSATS ■ Copper Pillar applications in high bandwidth memory Updated Product Platform: ■ Highly automated Improved performance ■ Cost effective Enabling Better System Performance Smaller Form Factor Lower Cost Higher Performance 12 Investor Presentation | 2021 Veeco Instruments Inc. OSAT - Outsourced Assembly and Test Provider Improved Battery Life Veeco#13Compound Semi Solutions with Wet Processing & MOCVD Market Drivers RF Filters & Devices (5G) As number of bands and frequencies increase with 5G, filter content is increasing. GaN based RF devices are more efficient than silicon based power amplifiers. Potential in mm- wave base station and mobile device applications. Power Electronics GaN based power devices are more efficient than silicon based power devices. This enables higher power density and lower system cost in consumer applications such as wired, wireless and fast charging. Photonics Devices for consumer, automotive and specialty applications such as world facing sensors in mobile devices, LiDAR for autonomous vehicles and Data / Telecom. MicroLED Sunlight readability, power efficiency & high brightness are the advantages of this next generation display technology. The Veeco Difference Wet Processing Lift-off - Strip Clean - Etch Over 50 years of experience in wet processing: High yield ■ High throughput Low cost of ownership MOCVD GaN GaAs - InP - AsP Proprietary Turbo DiscⓇ advantages: Excellent uniformity Maximum up-time Highest productivity Low cost of ownership WaferStorm" Veeco Veeco's WaferStormⓇ Wet Processing System Veeco Propel 300 Veeco's PropelⓇ MOCVD Platform for GaN based power devices, RF devices and MicroLED Arsenide Phosphide Indium Phosphide VCSEL Vertical Cavity Surface Emitting Laser Veeco 13 Investor Presentation | 2021 Veeco Instruments Inc. LIDAR Light Detection and Ranging GaAs Gallium Arsenide AsP InP EEL - Edge Emitting Laser#14Data Storage Solutions with lon Beam Technology Decades of investment have driven deep customer partnerships Market Drivers The Veeco Difference Heads & Steps per Head Projected to Increase Data Center / Cloud Edge Computing o Artificial Intelligence o Internet of Things • 5G RF Enterprise HDDs have a ~10X cost advantage over flash memory1 3000 ■ HDD growth driven by long-term 35% CAGR in Exabyte demand for cloud storage² ■ Average number of heads per drive is increasing, leading to a forecasted increase in magnetic heads shipped ■ Heads are increasing in complexity (HAMR/MAMR) to enable improvements in areal density, driving increased steps per head and capacity requirements for our customers Heads & Disk Drives in Millions 2500 2000 Heads 8.5% 3 0% 1500 Steps/Head 8.5% 1000 1 1.5% 500 Disk Drives -8% 0 2011 2012 2013 2014 0% 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 Source: Coughlin Associates, Internal analysis 14 Investor Presentation | 2021 Veeco Instruments Inc. 1 Coughlin Associates 2 Gartner HAMR MAMR Heat Assisted Magnetic Recording Microwave Assisted Magnetic Recording Veeco Normalized Steps per Head#15Veeco MAKING A MATERIAL DIFFERENCE Financial Update#16Improving Financial Trends (2018 - 2021) (Non-GAAP) Revenue ($m) 540-560 542 454 Impact of 419 LED Gross Margin (%) We expect 20% 2021 revenue growth at midpoint 39% 37% 43% 2018 2019 2020 2021* OPEX ($m, %) 2018 2019 2020 2021* Diluted EPS($) Gross Margins are expected to remain in the low 40% range 37% 32% 32% We expect OPEX as 175 156 a percentage of revenue to further decline 1.10 1.30 Company profitability is 0.86 expected to further improve 144 0.30 (0.03) 2018 2019 2020 2021* 2018 2019 2020 2021* Improving financials demonstrate our transformation progress, with expectations for continued growth in 2021 16 Investor Presentation | 2021 Veeco Instruments Inc. * FY 2021 is based on outlook provided during Q1 21 earnings call Veeco A reconciliation of GAAP to Non-GAAP financial measures can be found in the backup section of this presentation.#17Balance Sheet and Cash Flow Highlights $ millions Q4 20 Q1 21 Cash & Short-Term Investments 320 328 Accounts Receivable 80 87 Inventories 146 156 Accounts Payable 34 43 Long-Term Debt 321 325 Cash Flow from Operations 15 10 DSO (days) 52 59 DIO 159 173 DPO 37 49 17 Investor Presentation | 2021 Veeco Instruments Inc. Amounts may not calculate precisely due to rounding. A reconciliation of GAAP to Non-GAAP financial measures can be found in the backup section of this presentation. Veeco#18Convertible Notes Annual Principal Convertible Debt Coupon Amount Cash Interest Annual Non-Cash Initial Conversion Interest Price Convertible Notes Due Jan 2023 $132M 2.7% $3.6M $5.6 $40.03 Convertible Notes Due Jan 2025 $133M 3.5% $4.6M $4.9 $24.00 As of March 31, 2021 Convertible Notes Due June 2027 $125M 3.75% $4.7M $4.1 $18.46¹ Total Convertible Debt $389M 3.3%2 $12.9M $14.5 Three evenly staggered debt maturities over six year period (1) Conversion price for 2027 Convertible Notes includes the effect of the Capped Call transaction Veeco (2) Weighted average 18 Investor Presentation | 2021 Veeco Instruments Inc. Amounts may not calculate precisely due to rounding.#19Veeco MAKING A MATERIAL DIFFERENCE Outlook#20Long-term Growth Opportunities (2022 and Beyond) Investments for Growth Research and Development 。 Annealing O MOCVD o Other core Veeco technologies Evaluation Agreements О Laser Annealing for Logic and Memory o MOCVD for Compound Semiconductor ■ Service Capability о Enhancements to support multiple product evaluations Semiconductor Markets Veeco's Laser Annealing solutions are ideally suited for our customers' challenges at advanced nodes. We seek to expand our market opportunity and increase share by: ■ Achieving PTOR status at next nodes with our existing customers ■ Achieving PTOR status at an additional logic customer Expanding annealing into memory applications Compound Semiconductor Markets MOCVD for Compound Semiconductor markets such as Power Electronics and MicroLED display have the potential to be a long-term growth driver. We are positioning our single wafer MOCVD platform for power electronics applications Veeco is active in traditional and innovative MicroLED approaches Investments delivering early traction toward longer-term growth in 2022 and beyond 20 20 Investor Presentation | 2021 Veeco Instruments Inc. Traditional MicroLED approach - Red, green and blue MicroLEDs are produced to make up a single display pixel Innovative MicroLED approach - MicroLEDs are grown in place on silicon wafers similar to a semiconductor process Veeco#212021 Priorities - Building on a Profitable Growth Plan Growth Phase of Transformation Maintain Resilience essential business Focus profitability & products Execute Near-Term 2021 growth Prepare Long-Term 2022 & beyond Self-Driving ■ Employees Service Supply Chain Manufacturing " Defend foundational businesses Deliver strong operating results Evaluate product portfolio Laser Annealing 5G RF Data Storage Aggressively invest in evaluation systems ■ Expand service capability Selectively increase R&D investments Planned manufacturing capacity expansion Improved company performance today while investing for long-term, profitable growth Veeco 21 Investor Presentation | 2021 Veeco Instruments Inc.#22Veeco MAKING A MATERIAL DIFFERENCE Thank you#23Veeco MAKING A MATERIAL DIFFERENCE Backup & Financial Tables#24Q1 2021 Revenue by Market & Region Revenue by Market Scientific & Other Revenue by Region EMEA 12% China Semiconductor 15% 39% Data Storage $134M 31% 18% 10% United States 34% 41% Compound Semiconductor Revenue Trend ($M) Q120 Q4 20 Q121 Semiconductor 37 57 52 Rest of World is less than 1% Compound Semi 18 45 25 Data Storage 39 19 41 Scientific & Other 10 17 16 Total 105 139 134 24 Investor Presentation | 2021 Veeco Instruments Inc. Amounts may not calculate precisely due to rounding. Rest of APAC Veeco#25Q1 Operating Results GAAP Non-GAAP In millions (except per share amounts) Q4 20 Q1 21 Q4 20 Q1 21 Revenue $138.9 $133.7 $138.9 $133.7 Gross Profit 56.8 54.9 57.4 55.4 Gross Margin 40.9% 41.1% 41.3% 41.5% Operating Expenses 46.2 45.5 39.7 39.3 Operating Income/ (Loss) 10.6 9.4 17.6 16.1 Net Income/(Loss) (0.1) 2.5 15.0 12.6 Diluted Earnings/(loss) Per Share $(0.00) $0.05 $0.30 $0.25 Diluted Shares 48.3 53.1 49.7 50.9 25 Investor Presentation | 2021 Veeco Instruments Inc. Amounts may not calculate precisely due to rounding. A reconciliation of GAAP to Non-GAAP financial measures can be found in the backup section of this presentation. Veeco#26Q2 2021 Guidance 26 GAAP Revenue Gross Margin Operating Expenses Net Income (Loss) $125M $145M Non-GAAP $125M $145M 40% -42% $45M - $47M $(3M) - $6M Earnings (Loss) Per Share $(0.06) - $0.11 Diluted Shares 49M - 53M 40% -42% $38M - $40M $9M - $18M $0.17 - $0.35 51M 187.12 Investor Presentation | 2021 Veeco Instruments Inc. A reconciliation of GAAP to Non-GAAP financial measures can be found in the backup section of this presentation. Veeco#27Historical Revenue by End-Market $M 2019 2020 2021 Q1 Q2 Q3 Q4 FY Q1 Q2 Q3 Q4 FY Q1 Semiconductor 44.6 37.8 41.8 51.3 175.6 37.4 37.5 33.6 57.4 165.9 51.6 Compound Semi 15.0 16.4 26.3 28.1 85.9 18.4 17.7 26.6 45.2 107.9 24.8 Data Storage 19.6 22.7 24.1 17.6 84.1 38.9 28.3 36.9 19.2 123.3 41.0 Scientific & Other 20.2 20.8 16.6 16.2 73.8 9.8 15.1 15.0 17.1 57.0 16.4 Grand Total 99.4 97.8 109.0 113.2 419.3 104.5 98.6 112.1 138.9 454.2 133.7 27 Investor Presentation |2021 Veeco Instruments Inc. Amounts may not calculate precisely due to rounding. A reconciliation of GAAP to Non-GAAP financial measures can be found in the backup section of this presentation. Veeco#28Effect of Convertible Notes on Diluted Share Count GAAP Approximate Incremental Dilutive Shares (in thousands) Non-GAAP Approximate Incremental Dilutive Shares (in thousands) Average Stock Price 2025 2027 2025 2027 per Common Share Notes Notes Total Notes Notes Total $15.00 609 609 $16.00 1,130 1,130 $17.00 1,589 1,589 ייי $18.00 1,998 1,998 $19.00 2,363 2,363 192 192 $20.00 2,692 2,692 521 521 $21.00 2,990 2,990 819 819 $22.00 3,260 3,260 1,090 1,090 $23.00 3,507 3,507 1,337 1,337 $24.00 0 3,734 3,734 0 1,563 1,563 $25.00 221 3,942 4,163 221 1,771 1,992 $26.00 425 4,134 4,559 425 1,964 2,388 $27.00 613 4,313 4,926 613 2,142 2,755 $28.00 789 4,478 5,267 789 2,307 3,096 $29.00 952 4,632 5,584 952 2,461 3,413 $30.00 1,104 4,775 5,880 1,104 2,605 3,709 Based on outstanding Notes as of the end of the most recent quarter. Above table does not include incremental shares associated with the 2023 Notes, for which there is no dilutive impact below an average stock price per share of $40.03. The non-GAAP incremental dilutive shares includes the impact of the Company's capped call transaction issued concurrently with our 2027 Notes, and as such, no incremental shares are added to the dilutive share count in periods in which the average stock price per share is below $18.46. The GAAP incremental dilutive shares does not include the impact of the Company's capped call transaction, and as such, incremental shares are added to the dilutive share count in periods in which the average stock price per share is above $13.98, and the Company is in a net income position. 28 Investor Presentation | 2021 Veeco Instruments Inc. Amounts may not calculate precisely due to rounding. A reconciliation of GAAP to Non-GAAP financial measures can be found in the backup section of this presentation. Veeco#29Note on Reconciliation Tables These tables include financial measures adjusted for the impact of certain items; these financial measures are therefore not calculated in accordance with U.S. generally accepted accounting principles ("GAAP"). These Non-GAAP financial measures exclude items such as: share-based compensation expense; charges relating to restructuring initiatives; non-cash asset impairments; certain other non-operating gains and losses; and acquisition-related items such as transaction costs, non-cash amortization of acquired intangible assets, incremental transaction-related compensation, and certain integration costs. These Non-GAAP financial measures may be different from Non-GAAP financial measures used by other companies. Non-GAAP financial measures should not be considered a substitute for, or superior to, measures of financial performance prepared in accordance with GAAP. By excluding these items, Non-GAAP financial measures are intended to facilitate meaningful comparisons to historical operating results, competitors' operating results, and estimates made by securities analysts. Management is evaluated on key performance metrics including Non-GAAP Operating Income, which is used to determine management incentive compensation as well as to forecast future periods. These Non-GAAP financial measures may be useful to investors in allowing for greater transparency of supplemental information used by management in its financial and operational decision-making. In addition, similar Non-GAAP financial measures have historically been reported to investors; the inclusion of comparable numbers provides consistency in financial reporting. Investors are encouraged to review the reconciliation of the Non-GAAP financial measures used in this news release to their most directly comparable GAAP financial measures. 29 Investor Presentation | 2021 Veeco Instruments Inc. Veeco#30Supplemental Information-GAAP to Non-GAAP Reconciliation In millions Net sales GAAP gross profit GAAP gross margin Add: Release of inventory fair value step-up for purchase accounting Add: Share-based comp Add: Depreciation of PP&E fair value step-up for purchase accounting Q1 21 Q4 20 2020 2019 2018 In millions, except per share amounts $133.7 $138.9 $454.2 $419.3 $542.1 54.9 56.8 194.31 158.2 193.7 GAAP Basic weighted average shares GAAP Diluted weighted average shares 41.1% 40.9% 42.8% 37.7% 35.7% GAAP Basic EPS 0.3 1.3 2.5 GAAP Diluted EPS GAAP Net income (loss) 0.5 0.5 1.9 1.9 1.9 Add: Share-based comp - 0.2 0.3 Add: Amortization Q1 21 Q4 20 2020 2019 2018 48.6 48.3 48.4 47.5 47.2 53.1 48.3 48.4 47.5 47.2 $0.05 $(0.00) $(0.17) $(1.66) $(8.63) $0.05 $(0.00) $(0.17) $(1.66) $(8.63) $2.5 S(0.1) S(8.4) $(78.7) $(407.1) 3.2 3.1 12.7 15.3 16.1 3.4 3.8 15.3 17.1 32.4 - - 1.1 6.0 7.4 Non-GAAP gross profit Non-GAAP gross margin $55.4 $57.4 $196.5 $161.6 $198.5 Add: Restructuring 41.5% 41.3% 43.3% 38.5% 36.6% Add: Acquisition related 3.0 - Add: Asset impairment 0.3 4.0 375.2 In millions Q1 21 Q4 20 2020 2019 2018 GAAP Net income (loss). $2.5 $(0.1) S(8.4) $(78.7) $(407.1) Add: Release of inventory fair value step-up for purchase accounting Add: Depreciation of PP&E fair value step-up for purchase accounting Add: Accelerated depreciation - - 0.3 1.3 2.5 0.1 0.1 0.2 0.6 1.0 - - 0.4 1.2 Add: Share-based comp 3.2 3.1. 12.7 15.3 16.1 Add: Non-cash interest expense 3.5 3.5 13.8 12.7 11.8 Add: Amortization 3.4 3.8 15.3 17.1 32.4 Add: Other income (expense), net 4.8 7.8 21.0 Add: Restructuring 1.1 6.0 7.4 Add: Tax adjustment from GAAP to Non-GAAP Add: Asset impairment 0.3 4.0 375.2 (0.1) (0.3) (0.8) (0.8) (29.1) Non-GAAP net income (loss) $12.6 $15.0 $42.3 S(1.3) 14.2 Add: Release of inventory fair value step-up for purchase accounting Add: Depreciation of PP&E fair value step-up for purchase accounting - 0.3 1.3 2.5 Non-GAAP basic EPS $0.26 $0.31 $0.88 $(0.03) $0.30 0.1 0.1 0.2 0.6 1.0 Non-GAAP diluted EPS $0.25 $0.30 $0.86 $(0.03) $0.30 Add: Accelerated depreciation - 0.4 1.2 Non-GAAP basic weighted average shares 48.6 48.3 48.4 47.5 47.2 Add: Acquisition related - - 3.0 Non-GAAP diluted weighted average shares 50.9 49.7 49.31 47.5 47.2 Add: Interest expense 6.6 6.5 23.2 17.4 18.3 In millions Q1 21 Q4 20 2020 2019 2018 Add: Other income (expense), net 4.8 7.8 21.0 GAAP operating expenses $45.5 $46.2 $171.7 $197.8 $609.2 Add: Tax expense (benefit) 0.3 (0.6) (0.1) 0.8 (26.7) Share-based compensation (2.7) (2.7) (10.8) (13.4) (14.2) Non-GAAP operating income (loss) $16.1 $17.6 $52.5 $5.1 $23.2 Amortization (3.4) (3.8) (15.3) (17.1) (32.4) Asset impairment - - - (4.0) (375.2) Other (0.1) (1.5) (6.8) (12.1) Non-GAAP operating expenses $39.3 $39.7 $144.0 $156.5 $175.3 30 Investor Presentation | 2021 Veeco Instruments Inc. Amounts may not calculate precisely due to rounding. Veeco#31Q1 2021 Actual: GAAP to Non-GAAP Reconciliation Non-GAAP Adjustments In millions, except per share amounts GAAP Share-Based Compensation Amortization Other Non-GAAP Net Sales $133.7 Gross Profit 54.9 0.5 Gross Margin 41.1% $133.7 55.4 41.5% Operating Expenses 45.5 (2.7) (3.4) (0.1) 39.3 Operating Income (Loss) 9.4 3.2 3.4 0.1 16.1 Net Income (Loss) $2.5 3.2 3.4 3.5 $12.6 Income (Loss) Per Common Share: Basic Diluted $0.05 0.05 $0.26 0.25 Weighted Average Number of Shares: Basic Diluted Other Non-GAAP Adjustments 48.6 53.1 Depreciation of PP&E fair value step-up associated with the Ultratech purchase accounting Subtotal Non-Cash Interest Expense Non-GAAP Tax Adjustment Total Other 31 Investor Presentation | 2021 Veeco Instruments Inc. Amounts may not calculate precisely due to rounding. 48.6 50.9 0.1 0.1 3.5 (0.1) 3.5 Veeco#32Q2 2021 Guidance: GAAP to Non-GAAP Reconciliation In millions, except per share amounts GAAP Share-Based Compensation Net Sales $125-$145 50-61 1 Gross Profit Gross Margin Operating Expenses Operating Income (Loss) Net Income (Loss) Income (Loss) per Diluted Share Diluted Weighted Average Shares GAAP Net Income (Loss) Share-Based Compensation Amortization Interest Expense, Net Other Non-GAAP Operating Income (Loss) 32 Investor Presentation | Non-GAAP Adjustments Amortization Other Non-GAAP $125-$145 51-62 40%-42% 40%-42% $45-$47 (3) (3) (1) $38-$40 $5-$14 4 1 $13-$22 $(3)-$6 4 3 5 $9-$18 $(0.06)-$0.11 49-53 $(3)-$6 4 3 7 2 $13-$22 2021 Veeco Instruments Inc. Amounts may not calculate precisely due to rounding. $0.17-$0.35 51 Veeco