Enpro Investor Presentation November 2023

Select Semiconductor Industry Outlook Commentary Semiconductor Industry Growing to $1 Trillion by 2030 1,200 1,000 2030 Semi forecast $1T 2022 Semi revenue $5738 Semiconductor Industry Demand Environment Long-Term Secular Drivers Demonstrate Strategic Value of Semiconductors Longer-term, the semiconductor industry is expected to grow due to new enabling technologies such as Generative Al, 5G, IoT, Cloud Computing, Automotive Electronics, and Advanced Packaging. Industry regionalization is also just beginning. These technologies and trends underpin the broader semiconductor industry view that Semiconductor revenue is on track to be $1 trillion by 2030, representing a compound annual growth rate (CAGR) of approximately 9% from 2023 forecasts. 800 600 2002- 400 1990 First Blackberry Smartphone Introduced Semi revenue=$170B Global PC sales surpass 25M units Semi revenue=$50B 200 1980 1985 2018- Machine generated data surpasses human generated data Semi revenue $4668 ERA 2: PC+ Internet 1990 ERAT Made M 1995 2000 2005 2010 ERA 3: Mobility Cloud ERA 4: loT+Al 2015 2020 2025F 2030F IoT + Al Era is the 4th and Biggest Age of Computing Source SA, Applied MM 2000 FTchings 127 May & Company $1.17 SEMI 1.37 SAME Digital transformation drives structural growth Megatrends driving the semiconductor market Industry 4.0 Smartphone Mega trends Autonomous vehicles & EV Smarthome ASMA Semiconductor revenue (US$ billion) 1,200 Doubling to US$1 trillion by 2030 1,000 2018 2021 2024 2027 Source: Techinsights July 2023 October 24, 2023 2030 800 600 400 200 0 2033 APPLIED 1 Customers Adjusting Near-Term Capex Plans in Response to Market Conditions Over the past several quarters semiconductor and semiconductor capital equipment industry demand has been impacted by the macro-driven slowdown in electronics markets and analysts continue to project semiconductor device revenues to decline low double digits percent in 2023. Customer R&D Investment Remains a Top Priority for Capex Investment We continue to monitor resulting adjustments to our customers' capacity, and while wafer fabrication equipment (WFE) investment is down in 2023, R&D investments continue to be prioritized by our largest customers. This is important for KLA as our portfolio of products are relied upon during the R&D process as well as the early ramp phase when faster time-to-yield is critical The strategic nature of semiconductors in the global economy drives long term secular growth KLA Non-Confidential | Unrestricted KLA+ 2 3 Megatrends, wafer demand and capacity plans to support future growth Key messages Global trends continue to fuel semiconductor growth This drives an increase in demand for wafers into the next decade While the current macro environment creates near-term uncertainties, we see longer- term wafer demand and capacity showing healthy growth Expanding application space and industry innovation are expected to continue to fuel growth across semiconductor markets This translates to semi end market annual growth rate of around 9% and a doubling of semiconductor revenue (2020-2030) Strong growth rates across markets, continued innovation, more foundry competition and technological sovereignty drive an increased demand at advanced and mature nodes, which requires wafer capacity additions of over 780 thousand wafer starts per month per year, or a CAGR of 6.5% (2020-2030) ASM proprietary information 20 3 ASML 1: Source: Applied Materials Q3 Fiscal 2023 Earnings Presentation, August 2023 2: Source: KLA Q1 Fiscal 2024 Earnings Presentation, October 2023 3: Source: ASM, Q3 2023 Earnings Presentation, Oct 2023 4: Source: ASML Investor Day 2022, November 2022 Enpro Investor Presentation November 2023 13 To meet that demand, ASML and its partners are adding capacity We plan to adjust our capacity to meet future demand, preparing for cyclicality while sharing risks and rewards fairly with all stakeholders We plan to increase our capacity to 90 Low-NA EUV and 600 DUV systems (2025-2026), while also ramping High-NA EUV capacity to 20 systems (2027-2028) November 11, 2022 4 ✰ ENPRO

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