Winter 2020

CORPORATE PRESENTATION

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This presentation may contain forward-looking statements and management may make additional forward-looking statements in response to your questions. These statements are made under the ''safe harbor'' provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as “will,” “expects,” “anticipates,” “future,” “intends,” “plans,” “believes,” “estimates” and similar statements. Statements that are not historical facts, including statements concerning our beliefs, forecasts, estimates and expectations, and those regarding our expected financial results are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties that could cause actual results to differ materially from those projected or anticipated, including risks related to: the risk that our results of operations are cyclical and may fluctuate from period to period; the risk that we rely on a small number of customers for a significant portion of our revenue; the risk that the industries in which we participate are highly competitive and other risks outlined in our public filings with the Securities and Exchange Commission, including as set forth under “Risk Factors”, “Management’s Discussion and Analysis of Financial Condition and Results of Operations” and elsewhere in our most recent Quarterly Report on Form 10-Q and Annual Report on Form 10-K filed with the Securities and Exchange Commission. The forward-looking statements made in this presentation relate only to events or information as of the date on which the statements are made in this presentation. Except as required by law, we undertake no obligation to update or revise publicly any forward-looking statements, whether as a result of new information, future events or otherwise, after the date on which the statements are made or to reflect the occurrence of unanticipated events

Non-GAAP

Management uses non-GAAP gross margin, non-GAAP operating margin and non-GAAP net income to evaluate the Company's operating and financial results. The Company believes the presentation of non-GAAP results is useful to investors for analyzing our core business and business trends and comparing performance to prior periods, along with enhancing investors' ability to view the Company's results from management's perspective. The presentation of this additional information should not be considered a substitute for results prepared in accordance with GAAP. Tables presenting reconciliations of non-GAAP results to U.S. GAAP results are included in the Appendix.

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Safe Harbor

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Enabling Semiconductor Technology for Nearly 30 Years

Sustainable & profitable growth solving complex problems

2002 2006 2010 2014 2018

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-30%

-20%

-10%

0%

10%

20%

30%

40%

50%

60%

70%

2015 2016 2017 2018 2019 2020

WFE

Etch + CVD

UCT Semi

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Consistently Outperforming Our Served MarketsY

/Y G

row

th R

ate

* Source: Company data, UCT estimates based on SEMI WWSEMS Sept 2019 data

*

*

DEP/ETCH

F o u r t h Q u a r t e r 2 0 1 9

~55% Of UCT Semi Sales

*

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$563

$924

$1,097 $1,066

5.4%

10.3%

7.8%

6.6%

2016 2017 2018 2019

UCT Revenue Op Margin

Proven Growth Strategy Driving Exceptional Results

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$ in Millions (FYE)

WFE YoY Growth

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Successful Inorganic Growth

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AUGUST, 2015Purchase price $22.8M

EV/EBITDA ~6.2

>40%Entered wet

chemistry business

FEBRUARY, 2015Purchase price $43.6M

EV/EBITDA ~11.8

>50%Maintained

attractive margins

SEPTEMBER, 2018Purchase price $342.0M

EV/EBITDA ~6.6

Added recurring service revenue

stream

APRIL, 2019Purchase price $30.0M

EV/EBITDA ~5.4

Increased leading position in weldments

Increasedrevenue

Increasedrevenue

Revenue increases from date of purchase to Q3 2019

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Diversified Path To Market Expansion

FACTORYINTERFACE

GASPANEL

PROCESSCHAMBER

TRANSFERCHAMBER

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DEPOSITION

ETCH

LITHOGRAPHY

PACKAGE & TEST

IMPLANT

CMP

PHOTORESIST

Supplying Many Critical Elements of the Manufacturing Process

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PREP FRONT-END PROCESSING BACK-END PROCESSING

SEMI MANUFACTURING PROCESS

CORE UCT MARKETS

ADDITIONAL UCT MARKETS

CERTAIN STEPSREPEATED20X – 30X

INGOT

SLICING

POLISHING

EPITAXIAL

ANNEAL

INSPECTION

WAFER CLEAN

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Industry and Customer Footprint

9* Includes low single digit OEM service revenue

MemoryWFE

43%

Foundry & Logic WFE

33%

Other Equipment

Service22%

UCT Revenue by Segment

Lam40%

Applied23%

OtherEquipment

16%

Service*21%

UCT Revenue by Customer

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Global Product & Service Footprint Strategically Close To Customers

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CaliforniaTexas

OregonMaine

ArizonaColorado

Manufacturing

UK

Czech Republic

Israel KoreaChina PhilippinesSingaporeTaiwan

Global presence is a strategic benefit for major customers

Cleaning & Analysis

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Product & Service Market Opportunity

Company adaptation of Gartner Semiconductor Wafer Fab Equipment (Including Wafer-Level Packaging), Worldwide, Forecast 3Q18 Update & UCT estimates

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OEMs

Fabs

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SPS Growth Opportunities

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Further penetration of current >10% customers

Expand presence at other major OEM’s

– Goal to add 1-2 >10% customers over next several years

Pursue smaller, specialty-device customers to support increasing 200mm demand

– Further diversify revenue; leverage new high growth device markets

(i.e. 5G, IoT, and automotive)

Opportunistic consolidation within fragmented supply chain

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SSB Growth Opportunities

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Introduce proven Atomically Clean Surfaces™ to new customers

Reduce cost of ownership utilizing advanced technology– Longer part life through durable surface encapsulation

– Higher tool productivity by chemical & thermal pre-conditioning parts

Improve efficiencies by leveraging part cleaning knowledge– Create value by efficiently managing customer spare parts

– Utilize part lifecycle data to develop equipment uptime improvement

Create integrated solutions across UCT’s core competencies

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SEMICONDUCTOR SERVICES BUSINESS

Parts Cleaning & Coating

– 17 Advance Technology Cleaning

Centers close to customers

– New equipment cleaning and

ongoing service contracts

– Onsite logistics and support

Recurring revenue stream

Growth Drivers– Increase leadership in cleaning of

advanced sub-14nm process parts

– Penetrate top Tier IDM’s and OEM’s

– Advantage: total wafer starts vs

WFE capital equipment spend

Cleaning Service Offerings - QuantumClean

DIFFUSION ETCHINGCHEMICAL VAPOR DEPOSITION

PHYSICAL VAPOR DEPOSITION

ATOMIC LAYER DEPOSITION

LITHOGRAPHY IMPLANT SUBFAB

BEFORE & AFTER CLEAN

Source: Company information.

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Primary customers engage with global suppliers

Large number of regional players serve ~72% of market

– Leading position with opportunity

to grow

QuantumClean/ChemTrace Advantaged Position

Source: SSB Management estimates. * Includes top OEM sub-system suppliers

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Cleaning + Analytical Lab Services Market*

2018

Top 4 IDM 59%

Top 4 OEM* 11%

Top 2 Foundries 6%

All Other 24%

14%6%

5%

3%

KoMiCo

Cleanpart

Pentagon

Others (~90 companies)

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End Market Update

Foundry - all leading edge nodes at high capacity

– Foundry remains strong – broad based drivers

Logic ramp continued strength – Targeting ~25% capacity increase in 2020

3D NAND – seeing signs of investment– Demand steadily increasing - expect upward

inflection on content per box increases

– Supply/demand balance returning, ~normal utilization levels in Q1’20, pricing stabilizing

DRAM – investment continuing– Expect significant increase in 2020 investment –

exact timing unclear

– EUV R&D activity strengthening

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2 Sites in China

Manufacturing facility in Shanghai

─ Deep partnership with Chinese OEM’s

─ Made in China for China and Asia

o minimal tariff issues

Cleaning facility in Xi’an─ Positioned to capitalize on growing service

requirements in China as domestic chip production grows

China Strategy

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FINANCIAL UPDATE

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Q4’19 Key Takeaways

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Revenue and EPS exceeded consensus

Generated significant cash

– Paid down $14M term loan; $5M revolver

Continued improvements in operational excellence

$ in Millions Q4’19

Total Revenue $286.4

Semi Revenue $272.6

Gross Margin 20.1%

Operating Margin 8.1%

Cash Generation $31.9

EPS $0.33

EPS (excl SBC) $0.40$ in Millions Products Services

Revenue $230.2 $56.2

Gross Margin 16.0% 36.5%

Operating Margin 6.6% 14.3%

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Q1’20 Guidance

Revenue $290.0-$320.0

EPS (excl SBC) $0.40-$0.52

Q1 Guidance

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Expecting higher SPS revenues with increased foundry demand

Maintaining GM/OM

Holding OPEX flat

– Could increase for Q1 with typical year end costs (audit, etc.)

Tax rate remains at 21%

$ in Millions

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Updated Margin Model*

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* Subject to semiconductor market cycle direction, product and service mix and other macro events beyond UCT’s control

Consolidated Performance Model $0.8 - $1.0B $1.0 - $1.5B $1.5 -$2.0B

Non-GAAP Gross Margin 15% - 18% 17% - 20% 18% - 21%

Non-GAAP Operating Margin 5% - 8% 7% - 10% 9% - 12%

Business Unit Target Model SPS SSB

Non-GAAP Gross Margin 15% - 18% 33% - 36%

Non-GAAP Operating Margin 8% - 10% 12% - 15%

Thank You

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Reconciliation: GAAP Net Income to Non-GAAP Net Income

1. Amortization of intangible assets related to the Company's acquisitions of AIT, Thermal, FDS, QGT and DMS

2. Represents severance costs and costs related to facility closures

3. Represents costs related to the QGT and DMS acquisitions

4. Impairment of assets classified as “held for sale” related to our 3D printing business in Singapore

5. One-time product transition payment

6. Represents the loss on disposal of the Company's 3D printing operations in Singapore

7. Fair value adjustments related to DMS inventory, contingent consideration and purchase obligation

8. Depreciation adjustments related to QGT's fixed assets

9. Tax effect of items (1) through (8) above based on the non-GAAP tax rate

10. The Company's GAAP tax expense is generally higher than the Company's non-GAAP tax expense, primarily due to losses in the U.S. with full federal and state valuation allowances. The Company's non-GAAP tax rate and resulting non-GAAP tax expense considers the tax implications as if there was no federal or state valuation allowance position in effect.

23* Refer to 10k

$ in Thousands FY’16 FY’17 FY’18 FY’19

Net income (loss) per GAAP basis $10,051 $75,085 $36,596 $(9,351)

Amortization of intangible assets (1) $5,757 $5,438 $9,580 $20,090

Restructuring charges (2) $1,176 - $4,821 $16,615

Acquisition related costs*(3) $438 - $10,102 $3,861

Impairment of “Held for Sale” Assets (4) $666 - - -

Product transition fees (5) - - $657 -

Disposal of business unit (6) - - $1,082 $52

Fair value adjustments (7) - - - $7,457

Depreciation adjustments (8) - - - $(360)

Income tax effect of non-GAAP adjustment(9) $(1,664) $(714) $(4,501) $(11,261)

Income tax effect of valuation allowance (10) $4,964 $469 $6,355 $9,461

Non-GAAP net income $21,388 $80,278 $64,692 $36,564

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FY’16 FY’17 FY’18 FY’19

Reported GAAP net income $0.30 $2.19 $0.94 $(0.24)

Amortization of intangible assets (1) $0.18 $0.16 $0.25 $0.50

Restructuring charges (2) $0.04 - $0.12 $0.42

Acquisition related costs*(3) $0.01 - $0.26 $0.10

Impairment of “Held for Sale” Assets (4) $0.02 - - -

Product transition fees (5) - - $0.02 -

Disposal of business unit (6) - - $0.03 -

Fair value adjustments (7) - - - $0.19

Depreciation adjustments (8) - - - $(0.01)

Income tax effect of non-GAAP adjustments (9) $(0.05) $(0.02) $(0.12) $(0.28)

Income tax effect of valuation allowance (10) $0.15 $0.01 $0.16 $0.23

Non-GAAP net income $0.65 $2.34 $1.66 $0.91

Weighted Avg. number of diluted shares (in K) 33,150 34,303 38,919 40,027

Reconciliation: GAAP Earnings Per Diluted Share to Non-GAAP Earnings Per Diluted Share

24* Refer to 10k

1. Amortization of intangible assets related to the Company's acquisitions of AIT, Thermal, FDS, QGT and DMS

2. Represents severance costs and costs related to facility closures

3. Represents costs related to the QGT and DMS acquisitions

4. Impairment of assets classified as “held for sale” related to our 3D printing business in Singapore

5. One-time product transition payment

6. Represents the loss on disposal of the Company's 3D printing operations in Singapore

7. Fair value adjustments related to DMS inventory, contingent consideration and purchase obligation

8. Depreciation adjustments related to QGT's fixed assets

9. Tax effect of items (1) through (8) above based on the non-GAAP tax rate

10. The Company's GAAP tax expense is generally higher than the Company's non-GAAP tax expense, primarily due to losses in the U.S. with full federal and state valuation allowances. The Company's non-GAAP tax rate and resulting non-GAAP tax expense considers the tax implications as if there was no federal or state valuation allowance position in effect.

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Supporting Calculations

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Slide 9 FY’15 FY’19

Lam Research 51% 40%

Applied Materials 26% 23%

Others 23% 16%

Service* - 21%

Revenue (in millions) $469 $1,066

Source: Company releases, company estimates. * Includes low single digit OEM service revenue