Camtek : Investors presentation

CAMT

Camtek

Investor Presentation

November 2024

Disclaimer

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 the Private Securities Litigation Reform Act of 1995. Such forward-looking statements are based on Camtek's current beliefs, expectations and assumptions about its business and industry, all of which may change. 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, including statements relating to the compound semiconductors market and our position in this market and the anticipated timing of delivery of the systems. 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. Factors that may cause our actual results to differ materially from those contained in the forward-looking statements include, but are not limited to the effects of the evolving nature of the war situation in Israel, and the related evolving regional conflicts; the continued demand for HPC, HBM and Chiplet devices resulting from, among other things, the field of AI surging worldwide across companies, industries and nations; our dependency upon the semiconductor industry and the risk that unfavorable economic conditions or low capital expenditures may negatively impact our operating results; formal or informal imposition by countries of new or revised export and/or import and doing-business regulations or sanctions, including but not limited to changes in U.S. trade policies, changes or uncertainty related to the U.S. government entity list and changes in the ability to sell products incorporating U.S originated technology, which can be made without prior notice, and our ability to effectively address such global trade issues and changes; the risks relating to the concentration of a significant portion of our business in certain countries in the Asia Pacific Region, particularly China, Taiwan and Korea, some of which might be subject to the trade restrictions referred to above or involved in trade wars with countries which might impose such trade restrictions; changing industry and market trends; and those other factors discussed in our Annual Report on Form 20-F as published on March 21, 2024, as well as other documents that may be subsequently filed by Camtek from time to time with the Securities and Exchange Commission. We caution you not to place undue reliance on forward-looking statements, which speak only as of the date hereof. Camtek does not assume any obligation to update any forward-looking statements in order to reflect events or circumstances that may arise after the date of this release unless required by law.

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: dg.prospectus_requests@bofa.com and from Barclays Capital Inc. c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, Email: Barclaysprospectus@broadridge.com, Phone: +1(888) 603-5847.

Copyright of Camtek Ltd© 2024. All rights reserved

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CAMTEK AT A GLANCE (Nasdaq & TASE: CAMT)

Inspection and metrology systems for semiconductor market

REVENUE

+37%

$321

$315

$270

$93

$123

$134

$156

H1

H1

2017 2018 2019 2020 2021 2022 2023

2024

$489M

>3,000

Cash

Installed Base

As of 9/31/24 (1)

(ASP: ~$1M)

OPERATING INCOME

630

Employees

+68%

$92

$83

$77

$22

$25

$27

H1

H1

$10

2017 2018 2019 2020 2021 2022 2023

2024

Secular trends support continued growth

3

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Outperforming the Industry

Focused on secular trends and increased our TAM and market share

148%146%

130%

77%

76.50%

68%

57%

41%

43%

32%

28%

39%

32%

18%

15%

10%

11%

1%

2018

2019

2020

2021

2022

2023

Wafer Fab Equipment

IC Sales

Camtek Sales

Source: TechInsights' January 2024 & internal

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4

Diversified Customer Base

~70% of our business goes to tier-1

Our customers' base includes ALL the industry's leading foundries, IDM's and OSATs

new customers since 2019

new customers in 2022

Over 250 Customers

5

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Double-Digit Target Markets Growth

HPC and AIMobileAutomotive

Adaption of HBM & Chiplets

>12%

SiC 22% Thru 2030

Thru 2030 25-35%

~50% of our revenues

Advanced packaging

CMOS

RF

Sources: Yole, TechInsights, Tech Search, Technavio and others

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6 6

What We Do

Patterned Wafers

Wafer Process Control

Interconnect

Chiplet Modules

Inspection & Metrology

Inspection & Metrology

Inspection & Metrology

Leading provider of high-end inspection

& metrology systems to the semiconductor market

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FRT Acquisition Expands Camtek's

Metrology Capabilities

Camtek 3D Measurement

FRT Metrology

Bump height

Topography

CD/Overlay

TTV + Warp/Bow

RDL

TSV

Layer thickness

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Copyright of Camtek Ltd© 2024. All rights reserved

New Products Release

September 2024

February 2025

Eagle G5

New Platform

5th generation of the Eagle platform

Strong traction- $20M in orders since launch

Addressing AP roadmap

In qualification at several Tier-1 customers Initial orders already received

New platform expected to contribute to 2025 growth

Copyright of Camtek Ltd© 2024. All rights reserved

9

HPC is the main growth driver in Semi

Generative AI needs extremely powerful computing →HPC architecture

HPC is based on Chiplets and High-Bandwidth Memory (HBM)

More inspection steps and finer dimensions - an opportunity for Camtek

~50% of our business with continued demand expected Camtek has a strong position at all tier-1 manufacturers

Current and new products designed to address the above

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Disclaimer

Camtek Ltd. published this content on November 14, 2024, and is solely responsible for the information contained herein. Distributed by Public, unedited and unaltered, on November 14, 2024 at 21:06:24.034.