AEM 9M2022 Investor Update

November 4, 2022

AEM | In v es t o r U pda t e 9M2022

Disclaimer

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 | In v es t o r U pda t e 9M2022

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AEM 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 AI markets.

Leader in Fast

Full Stack

Deploy

Growing Test 2.0 Market

Technology

at Scale

Test 2.0 growth is driven by

Delivering composable

Critical delivery capabilities

advanced packaging &

technologies and solutions

giving our customers a

integrated logic.

for advanced, integrated

reduced time to market

AEM has over 1,000 Test 2.0

semiconductor test needs

tools in production

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 | In v es t o r U pda t e 9M2022

3

Mid- to long-term outlook is bright, with advanced packaging growing from 40% in 2020 to more than 60% in 2030

2021 vs. 2030 Market by

Device Type (US$B)

1000

954

900

51

800

231

700

600

510

500

23

508

400

166

300

200

248

100

74

165

0

2021

2030

Analog

Logic

Memory

MCU / DSP

(Source: IC Insights)

  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
    • Intel's process roadmap is aimed at obtaining process performance parity in
      2024 and leadership in 2025 via RibbonFET, 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)
  3. Consensus view that semiconductor market will grow to $1tn by early 2030s
    • Compute / AI, Automotive, data storage, and wireless are the key segments
      driving growth (Source: McKinsey & Co, IC Insights)
    • Short-termgeopolitical uncertainty may slow down China's growth temporarily, but should drive increased investment in the West (Source: AEM Analysis)
  5. 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-endcapacity has not yet seen an increase to accommodate front-end production increases (Source: SEMI.org)

AEM | In v es t o r U pda t e 9M2022

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Industry Megatrends and Test Challenges

Driving Secular Growth In Test

Megatrends

5G

Artificial Intelligence

Industry

High-speed,low-latency,

Growth of AI enables new

and omnipresent

business models and

connectivity opens a vast

unlocks increasing value

array of new applications

from data

and use cases

Challenges

Increasing

Increasing Power

Adoption of

Test

Device

Requirement

Advanced

Complexity

Packaging

IoT & Cloudification

Automotive

Proliferation of IoT enabled

Electrification of vehicles,

devices and the

introduction of

cloudification of data

autonomous driving

requires increased power in

capabilities, and

the cloud and at the edge

digitalization

Increasing Test

Increasing Thermal

Increasing Test

Development

Challenges

Coverage

Times

Requirements

Device

Volumes

Increasing

Device

Test Times

Increasing

Growth

In Test

Spend

AEM | In v es t o r U pda t e 9M2022

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Disclaimer

AEM Holdings Ltd. published this content on 04 November 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 08 November 2022 02:33:00 UTC.