#1MEYER BURGER Fiscal Year 2018 Presentation for Investors, Analysts and Media 21 March 2019#2Agenda 21 March 2019 2 MEYER BURGER Industry trends and Meyer Burger technologies Dr Hans Brändle, CEO Financial statements FY 2018 ■ Outlook Q&A session Meyer Burger Technology Ltd, Presentation for Investors, Analysts and Media Manfred Häner, CFO Dr Hans Brändle, CEO#3After pause in 2018, strong end market growth expected in 2019 & beyond End-installed solar module capacity per year in GW 200 GW 150 100 104 99 77 52 50 0 2015 2016 2017 Source: SolarPower Europe, IHS 12/2018 144 134 123 152 2018 2019 2020 2021 2022 high scenario low scenario MEYER BURGER Strong growth expected for 2019 ■ ☐ Sudden and unexpected 531 solar program restructuring in China, the world's key solar market, led to strong global turbulences in solar sector in 2018 After the strong double digit growth in previous years, 2018 grew only about 5% While China dropped from 53 GW to 44 GW, ROW could over- compensate the decline in China Global demand for end-installed solar module capacity expected to return to double digit annual growth as of 2019 Cumulated end-installed capacity to reach 1'000 GW by 2022 3 Meyer Burger Technology Ltd, Presentation for Investors, Analysts and Media#4World's largest solar market China: signals for quick recovery from 531 restructuring MEYER BURGER China 531 heavily impacted demand in 2018 Annual end-installed capacity -9 GW 9 GW 53 GW 44 GW 2019 with upside potential towards 2017 levels 2019 expected to 44 GW reach at least 2018 levels 2018 2019 2017 Source: NEA, various analysts China solar back on track as of 2019 The turbulences in the Chinese solar market also caught the attention of President Xi, who emphasized that solar energy remains a national priority and support will continue Chinese government wants: ✓ to achieve grid parity within next 3 years by establishing market driven model other than previous FiT Push industry to quality and technology focus After several consultation meetings with domestic PV industry, Chinese administration is expected to release positive solar policy framework soon and re-start new subsidy program for PV projects After 2018 growth pause, analysts expect China to install at least the 2018 volume with upside towards 2017 record year 4 Meyer Burger Technology Ltd, Presentation for Investors, Analysts and Media#5Diversifying world solar market for end-installed capacity MEYER BURGER China vs. RoW: Annual end-installed capacity share 100% 80% 60% 40% 54% 20% 41% 40% 32% 35% 33% 32% 31% 0% 2015 2016 2017 2018e Source: IHS 12/2018 ■China 2019e Rest of World 2020e 2021e 2022e Global solar dependence on China decreased in 2018 Even with fast Chinese recovery expected for 2019, around 2/3 of solar end-installed capacity likely to be installed outside China. The number of annual GW-scale solar markets for end-installed is increasing & emerging markets are growing quickly Number of GW-scale markets is quickly growing 2019 2018 2017 2016 Source: SolarPower Europe, IHS 12/2018 C⭑ O C⭑ O C⭑ M== *Σ11 markets Σ 14 markets Σ 9 markets Σ 6 markets 5 Meyer Burger Technology Ltd, Presentation for Investors, Analysts and Media#6However: solar module manufacturing dominated by Chinese companies MEYER BURGER Solar Module Super League (SMSL) growing fast SMSL Module Shipments (MW) Thin film c-Si First Solar Risen LONGI GCL Hanwha Q-CELLS JA Solar Canadian Solar JinkoSolar HJT as a worldwide business ☐ 2019 ☐ 2018 2017 Meyer Burger's equipment and process technology addresses crystalline silicon (c-Si) market While module manufacturing is closer to end-markets, cell manufacturing and therefore MB's customer base is more concentrated MB's customers base : ✓ PERC (& TOPCon) → predominantly China & SE Asia ✓ HJT & SWCT → worldwide Trina Solar 0 5,000 10,000 15,000 Source: PV Tech Research, Solar Media Ltd, Feb 2019 6 Meyer Burger Technology Ltd, Presentation for Investors, Analysts and Media#7GW PERC is new mainstream MEYER BURGER PERC share of installed cell capacity High- Efficiency 152 n-type: HJT, etc 139 116 92 PERC 74 Mainstream- Efficiency 61 51 AI-BSF 2013 2014 2015 2016 2017 2018 2019 Source: PV Tech Research, Solar Media Ltd, Feb 2019; Meyer Burger Ltd Trends in PERC cell technology PERC is new mainstream technology with 50% market share of installed c-Si cell capacity. Installed PERC capacity doubled from 2017 to 2018. MB's share in cumulated installed PERC capacity is about 55-60% strong base for TOPCon upgrade sales After sharp market decline due to China 531 in 2018, demand for PERC capacity & upgrades started to pick up again towards end of 2018. Invest cycle for PERC expected to end 2021 as Al-BSF will be replaced. As a result, cell manufacturers to look increasingly into high-efficiency technologies for differentiation. 7 Meyer Burger Technology Ltd, Presentation for Investors, Analysts and Media#8MB's PERC is proprietary and protected by own IP FABIAⓇ 8 BEEF BUKAE MEYER BURGER Meyer Burger had order intake for 8 GW PERC equipment (MAIA®, FABIA®) in 2018 Number of new Chinese players for PERC equipment (ALD) emerged. Large pressure on price and higher throughput requirement continues. Customers confirm continued superior cost-of-ownership of MB PERC equipment. Hanwha Q Cells recently filed patent infringement claim against several leading solar manufacturers. The patent refers to ALD as a deposition technology and a specific passivation structure of the cell design. Meyer Burger uses a proprietary PECVD deposition technology and a significantly different passivation structure, protected by own IP with patents in EU as well as in China and Korea and is therefore not negatively affected by the patent infringement claim. Meyer Burger Technology Ltd, Presentation for Investors, Analysts and Media#9High efficiency cell technologies: TOPC on starts to gain momentum Capacity forecast for n-type technologies MEYER BURGER 9 GW 30 25 20 CAGR +23% HJT TOPCon IBC 15 PERT 10 5 0 2015 2016 2017 2018 2019 2020 2021 2022 2023 Source: PV Info Link, Dec 2018 Meyer Burger Technology Ltd, Presentation for Investors, Analysts and Media#1010 Solar evolution: from PERC to TOP Con Technology roadmap for mainstream cell technology (PERC) 19 % AI-BSF Before 2019 22 % PERC Next 2-3 years 23 % TOPCon* Meyer Burger Technology Ltd, Presentation for Investors, Analysts and Media Economical limit MEYER BURGER TOPCon as the next technology PERC cell efficiency improvement slowing down; TOPCon* the next improvement TOPCon in mass-production enables: ✓ Commercial cell efficiencies reaching 23% levels ✓ Upgrade for existing PERC lines *TOPCon: most frequently used name for passivated contact technology#11CAIAⓇ enables upgrade PERC to TOPCon MEYER BURGER CAIA®: MB solution to upgrade PERC to TOP Con MB's offering for PERC MAIA® or FABIAⓇ + MB's future offering for TOPCon Already 320 W record module achieved ■ Meyer Burger's CAIA® providing process simplicity and easy integration for best total cost of ownership ■ CAIA® has already shown 23% potential and combined with SWCTTM >320 Wp module power (60 cell module, full sized M2 cells) Substantial interest in MB's new CAIA® platform for TopCon. First customer purchased tool for evaluation MAIA® or FABIAⓇ plus CAIA® 11 Meyer Burger Technology Ltd, Presentation for Investors, Analysts and Media#12High efficiency cell technologies: HJT at an inflection point in 2019 MEYER BURGER Capacity forecast for n-type technologies 12 GW 30 25 20 CAGR +23% HJT TOPCon IBC 15 PERT 10 5 0 2015 2016 2017 2018 2019 2020 2021 2022 2023 Source: PV Info Link, Dec 2018 Meyer Burger Technology Ltd, Presentation for Investors, Analysts and Media#13Solar revolution towards cost & high efficiency: HJT Technology roadmap for high-efficiency cell technology 23 % HJT >30% 27% 25% Tandem: HJT + Perovskite Meyer Burger roadmap for average HJT MEYER BURGER HJT the ultima c-Si ratio ☐ HJT is only commercially available c-Si technology with attractive cost structure that can lead to 25% cell level production efficiencies in next 3-4 years HJT is today's most promising cell technology, because of its: ✓ highest efficiencies for c-Si solar cells. ✓ best temperature coefficient ✓ highest bifaciality of all technologies cell efficiency ✓ potential to use thinnest wafers 25.0% ✓ lowest levelized cost of energy (LCOE) 1.5% 23.5% 22.7% 0.8% HJT cells provide best cell technology for upgrade to perovskite-based tandem solar cells because of complementary process sequence and highest efficiencies 13 2017 2018 2022 Meyer Burger Technology Ltd, Presentation for Investors, Analysts and Media#14Breakthrough: first tier-one PV manufacturer opts for MBs' HJT/SWCT™ MEYER BURGER ☐ First tier-one PV manufacturer to opt for Meyer Burgers' HJT and SWCTTM technology REC purchased core equipment for 600 MW HJT cell and SmartWire module production line for MCHF 74 Joint Development Agreement signed for game changing high efficiency half-cut cell solar modules REC REC, Singapore REC SOLAR'S MOST TRUSTED Bankability you can take to the bank As a strong company in a strong market, choosing REC panels for your solar installation helps to alleviate any concerns that investors, lenders, and even end customers may have when selecting a brand of solar panels. Sneak peek: REC Group's new solar panel to change the game Munich, Germany - February 7, 2019: REC Group, the largest European brand for solar panels, is going to launch a trailblazing new solar panel at Intersolar Europe. Based on a revolutionary technology, REC is set to create the world's most powerful solar panel for rooftop customers worldwide who seek the best. Emerging from REC's leadership in half-cut cell technology, the new panel combines heterojunction cells (HJT) with advanced connection technology from the joint development partner Meyer Burger. The new product reinforces REC's position as the solar industry's global technology leader and most trusted brand. 14 Meyer Burger Technology Ltd, Presentation for Investors, Analysts and Media Media & images: REC website#151 GW HJT MB equipment generates more than 10x order intake compared to PERC MEYER BURGER Cell line technology PERC EURO CAPEX per GW cell line relative to PERC Meyer Burger share of wallet in CAPEX for a cell line 15% Order intake for MB equipment per GW cell line relative to PERC 1x 1x TOP Con 1.5x 30% 3x HJT 2.5x 75% 12.5x Indicative values only Strong HJT pipeline momentum across globe ■ Since HY1 2018, Meyer Burgers' HJT sales pipeline grew by further c. 35% ■ Broad geographic spread with c1/3 from Europe, c. 20% from China and the remainder from Row 15 Meyer Burger Technology Ltd, Presentation for Investors, Analysts and Media#16Meyer Burger HJT technology: best-in-class MEYER BURGER Latest results from MB's pilot line (golden run) Highest cell efficiency Average efficiency 24.26% 23.9% 72 cell champion module* Monofacial 413 Wp Bifacial** 465 Wp (albedo 13.5%***) 490 Wp (albedo 20%) * M2, full size cells ** Based on TUV Rheinland measured 93% bifaciality *** Bifacial Standard Testing Conditions (BSTC) 16 Meyer Burger Technology Ltd, Presentation for Investors, Analysts and Media#17Meyer Burger Heterojunction technology leadership Module Power Ratings of Different HJT Players 450 W 413 400 400 390 390 350 300 250 Meyer Burger / CEA MEYER BURGER Source: Taiyang News March 2019 348* 335 330 325 325 325 320 320 317 CIE Sunpreme Jinergy Meyer Burger / CEA CIE Panasonic Jinergy GS-Solar Solartech Sunpreme Hevel Hanergy Universal 72 cell module 60 cell module *based on half cells Solar modules manufactured on Meyer Burger technology have highest power ratings achieving up to 413 W for 72 cell and 340 W for 60 cell modules Using a half-cell design, Meyer Burger HJT modules achieve 348 W for a 60 cell equivalent panel 17 Meyer Burger Technology Ltd, Presentation for Investors, Analysts and Media#18Race for record cell efficiencies often says little about mass production capability Mass production: average cell efficiencies HJT 21.5% PERC 20.0% MEYER BURGER 23.5% +2.0% 21.5% Compare apples with apples ☐ It is common practice to report cell efficiencies More important is resulting module power with such cells in like-for-like comparison in Wp Like-for-like means: ✓ number of cells e.g. 60 or 72 cells ✓ wafer size e.g. M2 (244.3cm 2) or M4 (258.3cm²) ✓ full-sized or half cells (the latter leading to ~5 Wp more power in 60 cell module) Some companies summarize under "PERC” any cell structure containing advanced passivation concepts such as TOPCon Especially "PERC" lab cell efficiency results usually based on scientifically optimized recipes which are hardly transferable into production environment ■ Meyer Burger's commercially reported cell efficiencies are always based on cost-competitive production-ready recipes. 2015 2016 2017 2018 Source: Meyer Burger Technology Ltd 18 Meyer Burger Technology Ltd, Presentation for Investors, Analysts and Media#19- 19 SWCT™ is the enabler for high efficiency solar cell technologies Patented and proprietary technology Perfect fit for HJT and TOPCon cells to boost output & save on silver paste consumption Enables thin wafer processing <120μm: no thermal and mechanical stress induced on cells Over 1 GW already sold Lead customer with repeat orders: REC pv magazine 2018 technology highligbes Meyer Burger Technology Ltd, Presentation for Investors, Analysts and Media MEYER BURGER MEYER BURGER#20Irradiation in W/(m²x μm) Meyer Burger and Oxford PV: Breaking through limitations in photovoltaics MEYER BURGER Principle of Perovskite - HJT Tandem Cells 2000 Tandem module AM 1.0 (sun in zenith) 4T 2T (2 Terminal Contacts) (4 Terminal contacts) 1500+ 1000+ 500 -AM 1.5 300 500 750 1000 1250 Top Cell Encapsulation Transparent contact Top cell Perowskite Transparent contact 1500 in nm Wavelength Single cell: Perovskite Bottom Cell Transparent contact I Bottom cell HJT (Si) Rear contact Encapsulation Optical coupling/ Single cells: HJT 20 Meyer Burger Technology Ltd, Presentation for Investors, Analysts and Media Tutorial ☐ ☐ ☐ Perovskite tandem solar cells consist of two independent solar cells combined in a single cell to capture not only the red part but also. more of the blue part of the solar spectrum Perovskite on silicon tandem solar cells have a theoretical efficiency limit of 43% compared to 29% for single-junction silicon solar cells Perovskite on heterojunction silicon solar cells is a perfect combination because: HJT (base) cells exhibit very high efficiency ■ HJT technology requires fewer production steps, hence, additional ease of integration with perovskite top cell ■ HJT cells use a transparent conductive oxide (TCO) layer embedded in the cell structure which is "shared" with perovskite top cell Oxford PV and MB focusing on accelerated industrialization and commercially available perovskite on silicon HJT modules#21Oxford PV: leading global player in perovskite cell technology Oxford PV at a glance ☐ ☐ ■ Founded in 2010 as University of Oxford spin-out and supported by strong VC and strategic investors (such as Equinor, L&G, Goldwind) Oxford PV's c. 100 scientists and engineers employed in UK and Germany with dedicated focus on next generation perovskite on silicon tandem technology Oxford PV focusses on high efficiency perovskite on silicon tandem technology enabling much lower LCOE compared to standard PV technology Oxford PV achieved world record efficiency of 28% for perovskite on silicon tandem cell with an R&D roadmap to above 30% efficiency Oxford PV owns strong global IP portfolio with over 200 filed granted patents, recognised as largest perovskite patent portfolio in the world In Germany, Oxford PV has fully equipped large- scale thin film PV facility in place To date, more than USD 100m invested capital OXFORD PV MEYER BURGER Best-in-class technology with highest cell efficiency level available in the market (28.0% certified) Highly innovative R&D focussed business model Strong IP portfolio with over 200 patents Growing global market for high-power solar modules targeted Supported by experienced Management team and Board of Directors University of Oxford spin-out backed by strong VC and strategic investors 21 Meyer Burger Technology Ltd, Presentation for Investors, Analysts and Media#22Exclusive strategic collaboration to shorten time-to-market for tandem cells & modules MEYER BURGER Oxford PV Brandenburg, Germany Accelerated industrialization of next generation perovskite / HJT tandem cell production technologies ■ Installation of 200MW MB HJT line at Oxford PV, joint development of mass production ready technology and certified SWCT™ modules based on perovskite / HJT tandem cells and fast ramp up of 200MW large volume manufacturing line in Germany by end of 2020 Significant contribution by MB through HJT and SWCT TM technology know-how, industrialization and process integration expertise and development of bespoke production equipment Combination of technologies and skills provides clear technology leadership with several years time advantage ■ Oxford PV is leading the "global perovskite race" with an externally confirmed champion cell of 28.0% lab efficiency ■ MB is the global leader in HJT which is of crucial importance for the industrialization of Oxford PV's perovskite cells ■ MBS' SWCT™ and cell connection technology know-how key to develop certified modules based on tandem cells 22 Meyer Burger Technology Ltd, Presentation for Investors, Analysts and Media#23Acquisition of a stake in Oxford PV Transaction structure MEYER BURGER 18.8% (17.2% fully diluted) With option to increase to 31.6% (29.3% fully diluted) OXFORD PV MEYER BURGER Legal & General others equinor GOLDWIND 81.2% (82.8% fully diluted) MBT acquires up to 18.8% (17.2% fully diluted) of Oxford Photovoltaics Limited (Oxford PV) to be paid in Meyer Burger shares (up to 9.99% of total shares issued or up to 62.3 million shares) with a mechanism agreed between the parties and to be issued from existing authorised capital ■ MBT becomes the largest single shareholder in Oxford PV. Other Oxford PV shareholders include Legal & General, Equinor Energy Ventures, Goldwind and financial investors ☐ Until 31 December 2020, MBT has the option to further increase its stake to up to 31.6% (29.3% fully diluted) in capital (voting rights restricted to maximum 24.0%) MBT and Oxford PV have entered into a separate agreement to jointly develop certified modules based on industrialised processes and the respective equipment for large volume manufacturing. Oxford PV buys from Meyer Burger a 200 MW HJT line at market conditions. Dr Hans Brändle will become member of the Board of Directors of Oxford PV Closing of the transaction expected by end of April 2019 23 Meyer Burger Technology Ltd, Presentation for Investors, Analysts and Media#24- Strategy update - Reorganisation Thun (announced 2 Nov 2017) completed 2017 2018 Nov Dec Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov # Wafer Module Solar Systems 112 MEYER BURGER 2019 Dec Jan Feb Mar Apr May H MegaSlate roof installation Sale of Solar Systems business to 3S Solar Plus AG Announced in May, Transaction closed June 2018 SWCT™ Line Outsourcing SWCT™ production to Mondragon Assembly Announced in April, Production at Mondragon started in January 2019 DW 291 Sale of Wafering business to Precision Surfacing Solutions Announced in February 2019, Transaction expected to close within weeks (replacing earlier plans to outsource to Flex) Manufacturing activities in Thun discontinued 24 Meyer Burger Technology Ltd, Presentation for Investors, Analysts and Media#25Strategy update: Transformation programme (announced 16 Oct 2018) on track MEYER BURGER ☐ ☐ Repositioning standard PV business solutions to Asia, mainly China Global sales and services functions for standard PV business solutions to move from Europe to Asia (mainly China) PV business activities concentrated in Hohenstein-Ernstthal and Wuxi-Shanghai Headquarter in Thun resized. Long-term rental contracts signed with Precision Surfacing Solutions and 3S Solar Plus AG. for manufacturing space Fully let building in Thun in sales process. Costs reduced and more flexible than before Strategic priority going forward to concentrate on Heterojunction, SWCT™ and next generation cell/module technologies Meyer Burger Technology Ltd, Thun Personnel (FTE) FTE 1,800 1,600 1,400 1,200 1,000 5151 - 2002 800 1505 1276 1191 600 1070 -990 400 200 25 Meyer Burger Technology Ltd, Presentation for Investors, Analysts and Media 0 31.12.2016 31.12.2017 31.12.2018 31.03.2019 PF by 2020 1 Change in no. of employees (FTE) 2 c. 100 FTE as part of sale Wafering to PSS; c. 100 as part of measures of the transformation programme#26Re-sized management team MEYER BURGER Dr Hans Brändle Manfred Häner Chief Executive Officer Chief Financial Officer Michael Escher Chief Commercial Officer Dr Gunter Erfurt Chief Technology Officer ■ Management team also re-sized in line with group structure ■ Manfred Häner joined as new CFO as of 1 October 2018; replacing former CFO Michel Hirschi Daniel Lippuner, COO, to leave Executive Board by the end of June 2019 Management focus on successful implementation of new corporate strategy to concentrate on HJT / SWCT™ and new generation cell/module technologies ■ 2019 expected to be a challenging year of transition ■ Return to profitability remaining a top goal and priority 26 Meyer Burger Technology Ltd, Presentation for Investors, Analysts and Media#27Financial Statements FY 2018 Manfred Häner, Chief Financial Officer E 240. 04465 E244 MEYER BURGER#28Incoming orders / Order backlog MEYER BURGER Incoming orders FY 2018 Incoming orders MCHF 326.8 (in CHF -42% vs record year 2017), FX effects (mainly EUR) of +2.8% Market environment very difficult with 531 announcement by Chinese government; US / China trade dispute; "Made in China 2025" strategy by Chinese government Increasing competition for MB PERC by local Chinese products (despite better efficiency, performance), as main customer focus on CAPEX per throughput Book-to-Bill Ratio 0.80 in FY 2018 (2017: 1.18) H2 2018: 1.08; H1 2018: 0.59 Order backlog 31 Dec 2018 Incoming orders MCHF 600 561 500 456 419 400 326 327 300 200 100 H2 H1 0 2014 2015 2016 2017 2018 Incoming orders HY 2017/2018 MCHF 400 308 300 253 189 138 ☐ Order backlog at MCHF 240.5 (31.12.2017: MCHF 343.8) 200 100 0 H117 H2 17 H118 H2 18 ☐ Order backlog as at 31 Dec 2018 consists of: - Photovoltaics MCHF 155.9 Order backlog at year-end - Specialised Technologies MCHF 84.6 MCHF (thereof MCHF 40.6 for Wafering equipment) 400 344 300 258 244 241 190 200 100 0 T 28 Meyer Burger Technology Ltd, Presentation for Investors, Analysts and Media 2014 2015 2016 2017 2018#29Net sales Net sales -14% to MCHF 407.0 " FX effects +3.7% (mainly EUR) Net sales MEYER BURGER 473 453 407 400 316 324 300 200 100 0 2014 2015 2016 2017 2018 Effect from divested companies -2.5% (Solar Systems business to 3S Solar Plus AG) Continuing business (without FX effects and divested Solar Systems business) declined by MCHF 71.3 Segment sales third parties includes Equipment for Wafering of total MCHF 58.8 Breakdown sales third parties: Photovoltaics MCHF 329.8, Specialised Technologies MCHF 76.7 Asia (mainly China) again major region with 71% of net sales Change in net sales Europe mainly due to 3Sun HJT order received in 2017 (recognized net sales MCHF 39.8 POC method) Change in net sales by region MCHF 500 USA MCHF -3 Europe MCHF +11 Net sales HY 2017/2018 MCHF 300 261 232 250 212 200 175 Asia 150 MCHF -72 100 50 ROW MCHF -3 0 H117 H2 17 H118 H2 18 29 Meyer Burger Technology Ltd, Presentation for Investors, Analysts and Media#30Split of net sales MCHF 407.0 By region 0.3% 3% (1%) (3%) 25% (19%) 71% (77%) 19% (14%) ■ Asia ■Europe ■ USA ■ROW Note: Comparative figures reflecting 2017 are shown in brackets By type of sales 2% 8% (3%) (9%) MEYER BURGER By currencies 6% (6%) 5% (5%) 71% (74%) 76% (70%) CHF EUR USD ■ Other ■Equipment PV ■Specialised Technologies ■Services & spare parts PV ■Consumables 30 Meyer Burger Technology Ltd, Presentation for Investors, Analysts and Media 13% (19%)#31Operating income after costs of products and services ■ 31 MEYER BURGER Operating income after costs of products and services increased by MCHF 5.9 or 3% compared to FY 2017 Margin 2018 of 49.3% was 8.1 percentage points higher than in 2017 Operating income in FY 2018 positively impacted by currency effects on customer prepayments and on trade receivables in total MCHF 3.9 In 2018 margin without currency effects was 48.4%, which is exactly at the same level as in the previous year Op. income after costs of products and services MCHF 300 49% 50% 48% 47% 41% 250 42% 47% 211 201 200 195 154 133 150 100 50 0 2014 2015 2016 2017 2018 Op. income after costs of prod. a. serv. 2017/2018 Meyer Burger Technology Ltd, Presentation for Investors, Analysts and Media MCHF 120 120 52% 98 97 46% 90 90 81 46% 60 60 37% 30 0 H117 H2 17 H118 H2 18 Operating income Operating income margin Long-term margin range#32OPEX (1) Personnel - Employees ☐ ☐ Number of FTE at 31 Dec 2018: 1,191 FTE (at 31 Dec 2017: 1,276 FTE) Reorganisation Thun (announced Nov 2017): 30 FTE transferred with sale of Solar Systems unit. Up to 100 FTE to be transferred with sale of Wafering business to Precision Surfacing Solutions (PSS) by end of Q1 2019 (replaces earlier plan with outsourcing to Flex). Transformation programme (announced Oct 2018): c. 100 FTE to be affected by measures initiated in transformation programme (2019/2020) Temporary staff: Decrease of 99 FTE due to lower order intakes and production volumes Organisation is becoming leaner with increased flexibility on cost structure Employees MEYER BURGER FTE 2000 * c.100 to PSS; and 100 transf programme 175 1500 -49 -100 75 -36 +1 76 C.-200* 1000 1276 1227 1191 500 0 31 Dec 17 MCHF 100 AFTE ATemporary 30 Jun 18 AFTE ATemporary 31 Dec 18 Employees (permanent positions) Temporary employees Personnel expenses HY 2017/2018 80 69 67 64 60 To leave Personnel expenses declined by 7% ☐ ☐ Personnel expenses 2018 lower by MCHF 9.8 compared to 2017 (2018: MCHF 125.9; 2017: MCHF 135.7) Significantly reduced fix costs. PEX reduction achieved through reduction of permanent and temporary employees as well as divestments 32 Meyer Burger Technology Ltd, Presentation for Investors, Analysts and Media 40 40 20 62 62 0 H117 H2 17 H1 18 H2 18#33OPEX (2) EBITDA / Total other operating expenses MCHF 48.8 (2017: MCHF 46.7) Increase of MCHF 2.1 compared to 2017 mainly due to: MCHF 4.3 loss from sale of investments, associates and joint ventures (Solar Systems business to 3S Solar Plus AG); including goodwill recycling of MCHF 1.0 Without this one-off charge, other operating expenses would have declined by about 5% EBITDA MCHF 150 100 50 EBITDA MCHF 26.1 EBITDA 2018 of MCHF 26.1, margin 6.4% (2017: MCHF 12.4, margin 2.6%) 33 Meyer Burger Technology Ltd, Presentation for Investors, Analysts and Media MEYER BURGER 11 12 3% 26 6% 0 2% -50 17% -56 -100 ***30% -150 -96 2014 2015 2016 2017 2018 EBITDA HY 2017/2018 MCHF 30 30 20 20 29 29 10 13% 10 7 5 3% 2% 0 -10 H117 H2 17 EBITDA H118 EBITDA margin -3 -2% H2 18