#1Camtek See Beyond Camtek Investor Presentation • Rafi Amit, CEO • Moshe Eisenberg, CFO Ramy Langer, COO March 2024 10%#2Disclaimer Confidentiality This presentation is confidential and may not be reproduced or distributed to others at any time without our prior written consent. Safe Harbor This presentation contains statements that may constitute "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, or the Securities Act, and Section 21E of the Securities Exchange Act of 1934, as amended, or the Exchange Act, and the safe-harbor provisions of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements are based on the current beliefs, expectations and assumptions of Camtek Ltd. ("Camtek," "we," "us" and "our"). Forward-looking statements can be identified by the use of words including "believe," "anticipate," "should," "intend," "plan," "will," "may," "expect," "estimate," "project," "positioned," "strategy," and similar expressions that are intended to identify forward- looking statements, although not all forward-looking statements contain these identifying words. These forward-looking statements involve known and unknown risks and uncertainties that may cause the actual results, performance or achievements of Camtek to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Our actual results and performance could differ materially from those projected in the forward-looking statements as a result of many factors, including as a result of the effect of the COVID-19 crisis on the global markets and on the markets in which we operate, including the risk of the continuation of disruptions to our and our customers', providers', business partners and contractors' businesses as a result of the COVID-19 pandemic; our dependency upon the semiconductor industry and the risk that unfavorable economic conditions or low capital expenditures may negatively impact our operating results; the highly competitive nature of the markets we serve, some of which have dominant market participants with greater resources than us; the rapid evolvement of technology in the markets in which we operate, and our ability to adequately predict these changes or keep pace with emerging industry standards; the risks relating to the concentration of a significant portion of our business in the Asia Pacific region; the variation of our operating results from quarter to quarter, and from our expectations for any specific period, and the effect that such variation has on our ability to predict future results; the effect that our prior or future M&A activity may have on our results of operations; our dependency on a limited number of suppliers, and in some cases, a sole supplier and/or subcontractor, and the effect and substantial costs that we may incur if one or more of our third-party suppliers or subcontractors does not provide us with key components or subsystems; our dependency on a number of key personnel who would be difficult to replace; the risk of increased cyber-attacks, data breaches, risks and threats, along with changes in privacy and data protection laws; fluctuations in currency exchange rates that may result in additional expenses being recorded or may result in the prices of our products becoming less competitive; the longer sales process for new products that may increase our costs and delay time to market our products; potential litigation to enforce or defend our intellectual property rights, which may be costly and time consuming; potential difficulties in purchasing key components and subsystems, or overestimating our needs, to meet customer demand; our ability to protect our proprietary technologies; our ability to comply with applicable laws and regulations and the impact of changes in applicable laws and regulations; and those other factors discussed in our Annual Report on Form 20-F and other documents filed by Camtek with the SEC as well as other documents that may be subsequently filed by Camtek from time to time with the SEC. Camtek See Beyond While we believe that we have a reasonable basis for each forward-looking statement contained in this presentation, we caution you that these statements are based on a combination of facts and factors currently known by us and our projections of the future, about which we cannot be certain. In addition, any forward- looking statements represent Camtek's views only as of the date of this presentation and should not be relied upon as representing its views as of any subsequent date. Camtek does not assume any obligation to update any forward-looking statements unless required by law. Use of Non-GAAP Financial Measures This presentation contains various non GAAP financial measures, including Net Income per Diluted Share, Operating Income, Operating Margin and Gross Margin. These non GAAP financial measures should be considered supplemental to, but not as a substitute for or superior to, financial measures prepared in accordance with United States GAAP. Our non GAAP measures include adjustments that reflect how management views our businesses, and may differ from similarly titled non-GAAP measures presented by other companies. Reconciliations of each non-GAAP measure to the closest comparable GAAP measure are available in the Appendix of this presentation. Statistical Data This presentation contains statistical and other industry and market data that we obtained from industry publications and reports generated by third parties. All of the market data used in this presentation involves a number of assumptions and limitations, and you are cautioned not to give undue weight to such estimates. Although we believe that the publications and reports are reliable, we have not independently verified this statistical data. Some data are also based on Camtek's good faith estimates, which are derived from its review of internal sources as well as the third party sources described above. Additional Information This presentation does not constitute an offer to sell or a solicitation of an offer to buy any securities or an invitation or inducement to engage in investment activity nor shall there be any sale of securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification of such securities under the securities law of any such jurisdiction. Before you invest, you should read the offering memorandum and other documents we have filed with the SEC that are incorporated by reference into the offering memorandum for more complete information about Camtek and this offering. You may obtain the documents incorporated by reference for free by visiting EDGAR on the SEC website at www.Sec.gov. Alternatively, copies of the offering memorandum may be obtained from Alternatively, copies of the offering memorandum may be obtained from BofA Securities, Inc., NC1-004-03-43, 200 North College Street, 3rd Floor, Charlotte, NC 28255-0001, Attn: Prospectus Department, Email: [email protected] and from Barclays Capital Inc. c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, Email: [email protected], Phone: +1(888) 603-5847. Copyright of Camtek Ltd 2023. All rights reserved 2#3Pending#4Outperforming the Industry Focused on secular trends and increased our TAM and market share 130% 148% 146% 77% 76.50% 68% 57% 41% 32% 43% 28% 39% 32% 18% 10% 15% 11% 1% 2018 2019 2020 2021 Wafer Fab Equipment IC Sales Source: TechInsights' January 2024 & internal Copyright of Camtek Ltd© 2023. All rights reserved Camtek Sales 2022 2023 Camtek See Beyond 4#5Double-Digit Target Markets Growth 0 Mobile Artificial Intelligence Automotive Semiconductors growth expected to be >12% Chiplet Modules -50% thru 2027 HBM-25% thru 2030 SiC 22% Thru 2030 12% 25% Sources: Yole, TechInsights, Tech Search, Technavio and others Copyright of Camtek Ltd 2023. All rights reserved 22% Camtek Computing and loT Gradual adaption of Chiplets IoT Thru 2030~20% 20% See Beyond 5 5#6Pending#7Camtek See Beyond Advanced Packaging Hybrid bonding Camtek Acquires FRT Metrology Inspection Q CAMTEK • Sub-micron defects ⚫ Inner cracks ⚫ Backside inspection 3D Metrology [ • Bump height CD/Overlay RDL + Expanding our metrology capabilities FRT Metrology F ⚫ Topography •TTV + Warp/Bow ⚫ TSV ⚫ Layer thickness Copyright of Camtek Ltd 2021. All rights reserved Silicon Carbide Front-end 7#8Pending#9The Al Era is here The artificial intelligence (AI) is based on: • High Performance Computing ⚫ Chiplets • High Bandwidth Memory (HBM) • Heterogenous Integration 2022 - 2030 10X increase in number of transistors per package Copyright of Camtek Ltd 2021. All rights reserved AI Camtek See Beyond பார் (((onto))) 9#10Heterogenous Integration (HI) is key for High Performance Computing and Al System-in-Package HBM CPU CPU Multi- Source: TechSearch HBM HBM Processors CPU CPU HBM Chiplet-based design Copyright of Camtek Ltd 2023. All rights reserved GPU I Small | Bumps Camtek See Beyond DRAM DRAM DRAM Missing Bumps DRAM 6606666 DRAM I Small I Bumps DRAM DRAM HBM Controller DRAM Silicon Interposer Known-good-die is key C4 (Flip Chip) 10 10#11Chiplet and HBM Growth Fueled by High Performance Computing and Al Chiplet Package Market Forecast Camtek See Beyond HBM Shipments Thousands of 300mm wafers 6530 500 450 400 350 Chiplet Units (millions) 7000 457 CAGR 36% 377 6000 5000 CAGR 22% 4658 300 277 250 200 3807 4000 3038 3000 135 150 2000 100 1000 50 0 0 2024 2025 2026 2027 2023 2024 2025 2026 Sources: Yole, TechSearch, Techwire Copyright of Camtek Ltd 2023. All rights reserved Chiplet modules and HBM to account for 30% revenues in 2024 11#12We Support the Industry Roadmap Copper interconnects transition to 5um pitch Bump sizes and pitches are decreasing Number of bumps per die is increasing RDL line and space are shrinking Camtek See Beyond Hybrid bonding technology moves down to 1um pad size Roadmaps in heterogenous integration are moving to more chip- chip stacking by hybrid bonding Cu Pillar Cu Pillar 20um Cu Pillar 10um Cu Pillar 5um 30um 1,000 1/0 mm² 2,500 1/0 mm² 10,000 1/0 mm² 40,000 1/0 mm² High volume manufacturing Copyright of Camtek Ltd 2023. All rights reserved Next generation 10 Back Side Metal DRAM Memory Al Logic Die Memory Controller Die DRAM Memory Memory Controller Die Silicon Interposer Advanced Substrate Source: Applied Materials, Inc. 1: 12#13Well Positioned to Benefit from Al Technology Trends Chiplet and HBM Manufacturers Inspection & Metrology Players (intel tsmc SK hynix SAMSUNG Micron OSATS (slowly moving in) Edge technology with a few players Camtek See Beyond innovation onto Copyright of Camtek Ltd 2023. All rights reserved Numerous inspection & Metrology Steps High resolution inspection & Metrology Al > 25% Growth KLA+ Camtek See Beyond 13#14Pending#15Compound Semi Widely Adopted BEV & SiC Adoption Rates (%) 70% 60% 50% 40% 30% 20% 10% 0% FY22 Value of SiC Content in EVs ($M) $4,986 $3,810 $1,522 39% CAGR $2,067 $2,775 البلاد $1,055 FY24 FY26 BEV Adoption ■SiC Adoption - Auto Why Silicon Carbide? 2022 2023 2024 2025 2026 2027 FY27 Source: Wolfspeed. Higher Efficiency: The combination of lower switching losses, higher thermal conductivity, and higher voltage ratings leads to increased power conversion efficiency in the EV's electrical systems. As a result, the vehicle can achieve greater range and better overall performance. Copyright of Camtek Ltd 2023. All rights reserved Camtek See Beyond 15#16Diversified Customer Base ~70% of our business goes to tier-1 ASE GROUP tsmc TEXAS INSTRUMENTS SAMSUNG UMC Amkor Technology Powertech GJCET STATSChipPAC SONY PTI Technology Inc. A JCET Company Camtek See Beyond Our customers' base includes ALL the industry's leading foundries, IDM's and OSATS +130 new customers since 2019 +50 new customers in 2022 Micron NX- Infineon BPIL WD Western Digital SK hynix ST Copyright of Camtek Ltd 2023. All rights reserved Over 250 Customers 16#17Camtek See Beyond Financial Overview 17#18Track Record of Growth and Profitability ($ in millions) Revenue 2017-2023 CAGR: 19% $321 $315 $270 Operating Income and Margin* ($ in millions) 17 % 28% 26% $92 $83 18% 19 $77 % 11% $156 $123 $134 $93 $22 $25 $27 $10 2017 2018 2019 2020 2021 2022 2023 Camtek See Beyond Net Income per Diluted Share* ($ per share) $0.57 $0.62 $0.64 $0.27 $1.88 $1.96 $1.59 2017 2018 2019 2020 2021 2022 2023 *Financial statistics are presented on a non-GAAP basis. Please see the Appendix for a reconciliation of non-GAAP metrics to the nearest comparable GAAP metrics. 2017 2018 2019 2020 2021 2022 2023 Copyright of Camtek Ltd 2023. All rights reserved Rapidly growing with significant operating leverage in the model 18#19Strong Q3 2023 Results Revenue ($M) 88.7 82.2 80.5 72.5 73.8 Gross Margin 49.0% 49.0% 49.0% 48.0% 47.3% Operating Margin Camtek 28.7% 27.8% 27.6% 24.8% 24.0% Q4-22 Q1-23 Q2-23 03-23 Q4-23 Q3-22 Q4-22 Q1-23 Q2-23 Q3-23 Q4-22 Q1-23 Q2-23 QB-23 Q4-23 65% of the revenues are from Advanced Interconnect Packaging applications, mainly Al related Significant portion of the orders are for inspection & metrology of Chiplet modules and HBM $93-95m guidance for Q1 with continued growth in 2024 Copyright of Camtek Ltd 2021. All rights reserved. Confidential See Reyond 19#20Selected Balance Sheet Data ($ in millions) 12/31/23 (Unaudited) 12/31/22 (Audited) $449 $479 Cash & Deposits (1) Trade Account Receivables, net 87 81 Inventory 95 71 Fixed Assets 42 33 Intangible Assets + Goodwill 91 1 Current Liabilities 97 89 Convertible Notes, Net 197 196 Total Balance Sheet 788 677 (1) Includes cash and cash equivalents, short-term and long-term deposits and marketable securities Camtek See Beyond 20 20#21Pending#22Key Takeaways จ Positioning 250 customers, 70% of our business is Tier1 Technology Supporting the most challenging applications in our market Market Leading provider to the HI and compound semiconductors markets - rapidly expanding our TAM Financials Leverage in our model with strong balance-sheet 2024 expected be a record year & key milestone in reaching our $500m target Copyright of Camtek Ltd 2021. All rights reserved Camtek See Beyond 22#23Pending#24Camtek See Beyond Appendix 44 Copyright of Camtek Ltd 2021. All rights reserved 24#25Pending#26Reconciliation from GAAP to Non-GAAP (cont'd) Camtek See Beyond $ in millions (except per share data) FY2019 FY2020 FY2021 FY2022 FY2023 Gross profit (GAAP) $64.8 $73.3 $137.3 $159.9 $147.6 % of revenue 48.30% 47.00% 50.90% 49.80% 46.80% Share based compensation 0.3 0.4 0.6 1.2 1.6 Acquisition of FRT related expenses 3.5 Gross profit (non-GAAP) $65.1 $73.8 $138.0 $161.1 $152.7 Gross margin (% of revenue) 48.60% 47.30% 51.20% 50.20% 48.40% Operating income (GAAP) $22.0 $22.60 $70.90 $81.5 $65.4 % of revenue 16.40% 15.50% 26.30% 25.40% 20.70% Share based compensation 2.9 4.2 5.8 10.5 125 Acquisition of FRT related expenses 5.4 Chroma transaction expenses (2) 0.1 Operating income (non-GAAP) $25.0 $26.8 $76.7 $92.0 $83.3 Operating margin (% of revenue) 18.70% 17.20% 28.44% 28.70% 26.40% Copyright of Camtek Ltd 2021. All rights reserved 26