#1EMO ΛΕΜ Testing Innovation AEM 9M2022 Investor Update November 4, 2022 AEM | Investor Update 9M2022 2701#2Disclaimer This is a presentation of general information relating to the current activities of AEM Holdings Ltd. ("AEM"). It is given in summary form and does not purport to be complete. This presentation may contain forward-looking statements. which are subject to risks and uncertainties. Actual future performance, outcomes and results may differ materially from those expressed in these forward-looking statements as a result of a number of risks, uncertainties and assumptions. Representative examples of these factors include (without limitation) general industry and economic conditions, interest rate trends, cost of capital and capital availability, competition from other companies, shifts in customer demands, customers and partners, changes in operating expenses, governmental and public policy. changes, and the continued availability of financing. Accordingly, such statements are not and should not be construed as a representation as to the future of AEM, and are not intended to be profit forecasts, estimations or projections of future performance and should not be regarded as such. No reliance should therefore be placed on these forward- looking statements, which are based on the current views of the management of AEM. The presentation is also not to be relied upon as advice to investors or potential investors and does not take into account the investment objectives, financial situation or needs of any particular investor. AEM accepts no responsibility whatsoever with respect to the use of this document or any part thereof. In this presentation, all $ dollar amounts are in Singapore dollars unless otherwise specified. AEM | Investor Update 9M2022 ΛΕΜ 2#3AEM Corporate Profile AEM is a global leader in the fast growing Test 2.0 market, delivering application-specific intelligent system test and handling solutions for semiconductor and electronics companies serving the advanced computing, 5G, and Al markets. FRANCE FINLAND ISRAEL PENANG CHENGDU SUZHOU SINGAPORE [GLOBAL HQ] KOREA SHANGHAI HSINCHU VIETNAM KULIM BATAM OREGON SAN JOSE SAN DIEGO CHANDLER [US HQ] AUSTIN COSTA RICA ΛΕΜ MANUFACTURING PLANTS DIRECT ENGINEERING / SALES SUPPORT Leader in Fast Growing Test 2.0 Market Test 2.0 growth is driven by advanced packaging & integrated logic. AEM has over 1,000 Test 2.0 tools in production Full Stack Technology Delivering composable technologies and solutions for advanced, integrated semiconductor test needs Deploy at Scale Critical delivery capabilities giving our customers a reduced time to market 2016-2022* Rev. CAGR 51% 9M2022 Results Revenue: S$746.6M PBT: S$141.4M FY2022 Guidance S$820M to S$850M * FY2022 guidance midpoint Listed on SGX Market Cap: ~S$1.0B* AEM Holdings Ltd. (SGD: AWX) (USD: XWA) As at 4 Nov 2022 AEM | Investor Update 9M2022#4Mid- to long-term outlook is bright, with advanced packaging growing from 40% in 2020 to more than 60% in 2030 1000 2021 vs. 2030 Market by Device Type (US$B) 954 51 1 Fundamental trends favor Test 2.0 . Advanced packaging forecasted to make up more than 60% of the packaging market by 2030, from 40% in 2020 (Source: The Insight Partners) • Logic device revenue expected to double from US$248B to US$508B 900 800 231 700 600 510 500 23 508 400 166 300 200 248 100 165 74 0 2021 2030 Analog Logic Memory I MCU / DSP (Source: IC Insights) AEM | Investor Update 9M2022 ΛΕΜ • • Intel's process roadmap is aimed at obtaining process performance parity in 2024 and leadership in 2025 via Ribbon FET, PowerVia, Foveros Omni and Foveros Direct, and eventually Intel's 20A process node (Source: AnandTech.com) The West is expected to increase investments with a large part of assembly and test concentrated in SEA (Source: AEM analysis) 2 Consensus view that semiconductor market will grow to $1tn by early 2030s • • Compute / Al, Automotive, data storage, and wireless are the key segments driving growth (Source: McKinsey & Co, IC Insights) Short-term geopolitical uncertainty may slow down China's growth temporarily, but should drive increased investment in the West (Source: AEM Analysis) 3 300mm fab capacity to grow at a 10% CAGR from 2022 to 2025, with 9.2 million wafer per month • Investments in new fabs / lines (~67) are expected to start between 2022 and 2025 (Source: SEMI.org) Back-end capacity has not yet seen an increase to accommodate front-end production increases (Source: SEMI.org) 4#5Test Challenges Industry Megatrends Industry Megatrends and Test Challenges Driving Secular Growth In Test 5G High-speed, low-latency, and omnipresent connectivity opens a vast array of new applications and use cases Artificial Intelligence Growth of Al enables new business models and unlocks increasing value from data IoT & Cloudification Proliferation of loT enabled devices and the cloudification of data requires increased power in the cloud and at the edge Automotive Electrification of vehicles, introduction of autonomous driving capabilities, and digitalization PP P P Increasing Device Complexity AEM | Investor Update 9M2022 Increasing Power Requirement Adoption of Advanced Packaging X Increasing Test Development Times Increasing Thermal Challenges Increasing Test Coverage Requirements Device Volumes Increasing Device Test Times Increasing Growth In Test Spend 5 ΛΕΜ#6Full Stack Solution Composed for the Customer's Modern Test Needs Advanced Automation 1 1 HANDLERS Thermal Solutions Wafer, Packaged, MEMS, Module, & System Level Test AEM | Investor Update 9M2022 Software Integration Device Sockets Test Cell Automation Load Boards Test & Instrumentation Solutions ΛΕΜ 6#7Test 2.0 And Our Composable Solutions are Enabled by AEM's Core Capabilities Test Handlers Todest TECHNOLOGY Thermal Arrays / Kits / Sockets Semiconductor Testers Organic R&D Test Cell Automation Final Test Handlers Application Specific Wafer Probers Wor System Level Test Consumables Low Cost ATE Software Integration Humidity, Pressure, Gyro, Motion, Cryogenic, ATC DELIVERY AEM | Investor Update 9M2022 Intelligent Load Boards Interconnect Testers 300 MMA H Cable Testers, Vector Network Analyzers ΛΕΜ M&A 7#8AEM's Business Model ΛΕΜ Business Model Growing recurring demand for kits, pans, and spares underpinned by a growing install base of >1,000 Test 2.0 tools Grow share of wallet of the overall consumable stack within each tool REVENUE MIX IN 9 M2022 ■Consumables Services ■ Equipment Equipment 35% Services 25% Consumables 40% ✓ AEM's SAM for Test 2.0: US$3.0B ✓ Growing the SAM by expanding capabilities • • ATE: US$300M out of total US$5,400M market Socket: US$200M out of total US$1,500M market Prober: US$100M out of total US$1,100M market Benefits ✓ Mitigate volatile equipment sales ✓ Bolster profitability with higher margin consumables Increase customer intimacy AEM | Investor Update 9M2022 GROWING THE SAM (US$M) 200 190 180 170 160 150 140 4,000 100 3,600 200 CONSUMABLES 13% CAGR 3,500 300 (S$M) 3,000 3,000 2,500 2,000 1,500 1,000 130 120 500 110 100 0 FY2018 FY2019 FY2020 FY2021 Test 2.0 ATE Socket Prober Total SAM Source: AEM estimates 8#99M2022 Highlights ΛΕΜ • • • • • Delivered highest 9M revenue and PBT in AEM's history at S$746.6M (+121% y-o-y) and S$141.4M (+123% y-o-y) respectively Reported EPS of 36.95 SG cents in 9M2022, a 99% y-o-y increase from 18.58 SG cents in 9M2021 Continues to have a strong balance sheet with NAV per share of 156.3 SG cents as at Sep 30, 2022 compared to 130.0 SG cents as at Dec 31, 2021, a 20% increase Maintaining FY2022 revenue guidance between S$820M and S$850M on the back of strong demand from existing and new customers Continue to work with the three previously mentioned new customers, and are on the critical path for the release of their next generation devices AEM | Investor Update 9M2022 9#109M2022 Financial Highlights Highest 9 months results recorded AEM Investor Update 9M2022 Revenue S$746.6M +121% vs 9M2021 9M2022 vs 9M2021 PBT NAV per share S$141.4M +123% vs 9M2021 156.3 cents +20% vs Dec 31, 2021 ΛΕΜ 10#11Quarterly Revenue and PBT S$'M Revenue 278.6 261.9 146.2 227.0 206.1 S$'M 27.8 PBT 52.2 49.7 47.8 39.4 ΛΕΜ 3Q2021 4Q2021 1Q2022 2Q2022 3Q2022 3Q2021 4Q2021 1Q2022 2Q2022 3Q2022 AEM Investor Update 9M2022 11#12Revenue Mix Consumables and Equipment revenue more than doubled S$'M AEM Investor Update 9M2022 338.5 125.3 (37%) 120.1 (35%) 93.1 (28%) Revenue 9M2021 ■Test & Automation Equipment Consumables 746.6 (25%) 184.4 297.4 (40%) 264.8 (35%) 9M2022 Services ΛΕΜ 9M2021 comprises 6.5 months of CEI revenue only Services comprises manufacturing, engineering, and FSE revenue 12#13A Robust Balance Sheet Sound capital structure - Debt/Equity ratio of 0.2X NAV per share increased mainly due to $115M profits earned for 9M2022 As at Sep'22 Dec'21 S$M S$M Property, Plant & Equipment 38.5 26.1 Right-Of-Use Assets 36.2 17.8 Intangible Assets 113.1 96.9 Cash 153.6 216.2 Current Assets less Current Liabilities 339.0 314.9 Total Assets 823.9 710.5 Financial Liabilities 95.1 81.3 Shareholders' Equity 488.9 402.5 in SG Cents NTA per share 121.2 98.3 NAV per share 156.3 130.0 Debt/Equity 0.2x 0.2x AEM | Investor Update 9M2022 Highlights Net Current Assets (+S$24.1M) Increased mainly from: Higher inventory level in 9M2022 to ensure parts and components availability for upcoming delivery Shareholders' Equity (+S$86.4M) Increased due to profit contribution in 9M2022 of S$115.3M partially offset by dividends paid in 2022 of S$36.2M ΛΕΜ 13#14AEM | Investor Update 9M2022 Thank You Investor Relations Contact Samir MOWLA [email protected] Financial PR Pte Ltd Kamal SAMUEL / Shivam SARAF / Urvija DIWAN Tel: 6438 2990 / Fax: 6438 0064 [email protected] [email protected] [email protected] ΛΕΜ