INVESTOR

PRESENTATION

May 2016

May 2016

Safe Harbor Statement

2

This presentation contains statements about management's future expectations, plans and prospects of our

business that constitute forward-looking statements, which are found in various places throughout the press

release, including, but not limited to, statements relating to expectations of orders, net sales, product shipments,

backlog, expenses, timing of purchases of assembly equipment by customers, gross margins, operating results

and capital expenditures. The use of words such as “anticipate”, “estimate”, “expect”, “can”, “intend”, “believes”,

“may”, “plan”, “predict”, “project”, “forecast”, “will”, “would”, and similar expressions are intended to identify

forward looking statements, although not all forward looking statements contain these identifying words. The

financial guidance set forth under the heading “Outlook” contains such forward looking statements. While these

forward looking statements represent our judgments and expectations concerning the development of our

business, a number of risks, uncertainties and other important factors could cause actual developments and

results to differ materially from those contained in forward looking statements, including any inability to maintain

continued demand for our products; failure of anticipated orders to materialize or postponement or cancellation of

orders, generally without charges; the volatility in the demand for semiconductors and our products and services;

failure to adequately decrease costs and expenses as revenues decline; loss of significant

customers; lengthening of the sales cycle; acts of terrorism and violence; inability to forecast demand and

inventory levels for our products; the integrity of product pricing and protection of our intellectual property in

foreign jurisdictions; risks, such as changes in trade regulations, currency fluctuations, political instability and war,

associated with substantial foreign customers, suppliers and foreign manufacturing operations; potential instability

in foreign capital markets; the risk of failure to successfully manage our diverse operations; those additional risk

factors set forth in Besi's annual report for the year ended December 31, 2015; any inability to attract and retain

skilled personnel; and other key factors that could adversely affect our businesses and financial performance

contained in our filings and reports, including our statutory consolidated statements. We expressly disclaim

any obligation to update or alter our forward-looking statements whether as a result of new information, future

events or otherwise.

May 2016

Agenda

I. Company Overview

II. Market

III. Strategy

IV. Financial Review

V. Outlook & Summary

3

May 2016

I. COMPANY OVERVIEW

4

May 2016

Besi Overview

• Leading assembly equipment supplier with #1 and #2 positions in key products. 28.4% addressable market share

• Broad portfolio: die attach, packaging and plating

• Strategic positioning in substrate and wafer level packaging

• Global mfg. operations in 6 countries; 1,590 employees worldwide. HQ in Duiven, the Netherlands

Corporate Profile

• LTM revenue and net income of € 333.3 and € 39.5 million

• Cash at 3/31/16: € 169.8 million

• Total debt at 3/31/16: € 21.4 million

• € 170 million of dividends and share repurchases since 2011

Financial Highlights

• Growth of <20 nano advanced packaging, smart phones, wearable devices, auto electronics, IoT, wire bond/flip chip conversion and market share gains offer revenue upside

• Significant unrealized earnings potential from optimization of Asian production, supply chain efficiencies and development of common parts/platforms

Investment Considerations

5

May 2016

Company History

6

€ 85.5

€ 333.3

25.9%

48.8%

20%

25%

30%

35%

40%

45%

50%

55%

60%

0

100

200

300

400

2003 LTM

Gro

ss M

arg

in (

%)

Reven

ue

(€

mill

ion

s)

Revenue Gross Margin

•2000 2002 2005 2009

Die Attach Acquisitions

• European production transferred to Asia

• Intellectual property remains in Europe

• European headcount and facilities reduced

• Break even revenue levels decreased

Restructuring

• Die attach, packaging and plating production transferred to Malaysia

• Chinese facility produces die attach systems for local market, tooling and molds

• Singapore die attach engineering expanded in 2015

• 75% of supply chain moved to Asian vendors

Asian Production Transfer

May 2016

Best in Class Product Portfolio

7

Multi Module Attach• 2200 evo

• 2200 evo plus

• 2200 evo hS New

Die Sorting• DS9000e

• WTT

• TTR

• DLA

New

New

New

Die Bonding

• 2100 xP plus / hS

• 2100 sD plus / PPP plus

• 2009 SSI

New

Flip Chip• 8800 CHAMEO fan-out

• 8800 TCB

• 8800 FCQ sigma

• 2100 FC

New

New

Plating• Leadframe

• Solar

•Next generation Die Attach

•Next generation Packaging

•Common modules

AMS-W/LM• Substrate

AMS-i• Leadframe

• MEMS

• Sensors

FML• Wafer

• Panel

New FSL• Sorting

FCL• X

• P

• P/XNew

New

New

• 2100 DS

• 2100 SC

Die Lid Attach• DLA New

• Film & Foil

• Battery

Die Attach

Packaging

Plating In Development

New

New

May 2016

Dicing

Semiconductor Assembly Process

Die Attach Wire Bond Packaging Plating

Leadframe Assembly

Substrate

Wire Bond Assembly

Substrate

Flip Chip Assembly

Wafer Level Packaging

Flip Chip Assembly

Wire BondDie Bond

Die Bond

FC Die Bond

Molding

Molding

Molding

Trim & Form

Singulation

Singulation

Plating

Ball Grid Array

Ball Grid Array

Die Sort

Die Sort

Die Sort

Die Attach Packaging Ball Attach

Product Positioning

8

Semiconductor Manufacturing Equipment (2014: $40.1B)

Front end: $32.2B (80%) Assembly: $3.9B (10%) Test: $3.9B (10%)

May 2016

Customers OEMs End Products

Customer Ecosystem

• Blue chip customer base, top 10 = 49% of 2015 revenue

• Leading IDMs and subcontractors. 60/40% split

• Assemble chips for leading fabless companies: Qualcomm, Broadcom, MediaTek

• Long term relationships, some exceeding 45 years

IDMs

Subcontractors

9

May 2016

Current Operational Profile

10

as of March 31, 2016

Europe/NA Asia

Revenue (MMs) € 19.0 24.1% € 60.0 75.9%

Headcount 580 36.5% 1,010 63.5%

• Development activities in Europe

• Production in Asia

• Sales/service activities in Asia, US and

Europe

Sales Office

Production Site

Sales & Production Site

* R&D Site

Leshan

ChengduShanghai

Korea

Taiwan

PhilippinesMalaysia

Singapore *

Suzhou

Radfeld, (Austria)*Cham,

(Switzerland)*

Duiven & Drunen,

(The Netherlands)*

Chandler

Shenzhen

May 2016

Year Ended December 31,

(€ millions, except share data) 2013 2014 2015

Revenue 254.9 378.8 349.2

Orders 251.9 407.6 348.3

Gross margin 40% 44% 49%

EBITDA 27.9 82.1 73.0

Pretax income 19.2 71.3 57.1

Net income 16.1 71.1 49.0

Adjusted net income 16.9 64.5 46.9

EPS (diluted) 0.43 1.87 1.27

Net margin 6% 19% 14%

Adjusted net margin 7% 17% 13%

Net cash 71.0 118.0 136.5

Summary Historical Financials

• 2015 Results:

• Solid profit and margins maintained

despite H2 market downturn

• Industry leading gross and net margins

• Net cash position continues to build

• Operating initiatives have supported

gross and net margin development

• Strong cash flow generation:

• Solid liquidity base to finance growth

• Supports shareholder friendly capital

allocation policy

11

May 2016

Besi Market Information

12

Market Profile

Share

Ownership

0

100

200

300

400

2013 2014 2015 2016

Average Daily Volume(Shares 000s)

60%

46%

0%

20%

40%

60%

80%

2011 2016

Top 10 Shareholders(% of shares outstanding)

• BESI

• Euronext Midcap AMX

Symbol/ Index

• € 1,053 MM ($1,200 MM)

Market Cap*

• Pay out 40-80% of net income per annum

Dividend Policy

• As of 4/29/16

• Source: Besi estimates

NL46%

US & UK27%

Europe ex. NL

14%

Other13%

By Geography

May 2016

Dividend Trends

13

0.22 0.30 0.33

1.50

1.00 0.73

0.42 0.43

1.87

1.27

4.3%

5.2%

4.0%

8.1%

6.5%

0.0%

2.0%

4.0%

6.0%

8.0%

10.0%

12.0%

0.00

0.20

0.40

0.60

0.80

1.00

1.20

1.40

1.60

1.80

2.00

2011 2012 (b) 2013 2014 2015 (c)

Div

ide

nd

yie

ld

Div

ide

nd

(€)

Dividend EPS (diluted) Total Dividend Yield (a)

1.20

a) Based on year end stock price

b) Includes special dividend of € 0.08

c) Includes special dividend of € 0.20. Payout ratio for base dividend is approximately 80%

30% 71% 77% 80%Payout Ratio: 94%

May 2016

4.8%

4.2%

2.7% 2.6%

2.1% 2.0% 1.9%

0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0%0.0%

1.0%

2.0%

3.0%

4.0%

5.0%

6.0%

Dividend Yield

Dividend Yield vs. Peers

Source: Reuters May 5, 2016

14

May 2016

II. MARKET

15

May 2016

Assembly Equipment Market Trends

• 2015 market contraction post large 2014 capacity build

• Modest downturn forecast for 2016. Growth reaccelerates in 2017 and 2018

• Besi revenue growth exceeding assembly market over past three years

3.13.9

3.4 3.33.8

4.1

-22.4%

28.1%

-13.6%

-3.9%

14.9%8.6%

-30%

-20%

-10%

0%

10%

20%

30%

40%

0.0

1.0

2.0

3.0

4.0

5.0

2013 2014 2015E 2016E 2017E 2018E

(US

$ b

illi

on

s)

Assembly Equipment MarketMarket Size YoY Growth Rate

254.9

378.8 349.2

94.9 79.0

-6.9%

48.6%

-7.8%-16.8%

-50%

0%

50%

100%

150%

0

100

200

300

400

2013 2014 2015 YTD 2015 YTD 2016

(€m

illi

on

s)

Besi RevenueRevenue YoY Growth Rate

Source: VLSI January 2016

16

May 2016

2016 Industry Outlook

New technology cycle underway for <20 nano devices amidst global macro uncertainty and customer margin pressure

VLSI currently forecasts modest 2016 downturn. Chinese and Taiwanese purchases of leading edge capacity aids Besi’s H1-16 outlook

New tech/device buys. Limited

capacity additions

Selective strength in smart phones, automotive, high end memory and

cloud servers

Speed, accuracy and reliability at

shrinking geometries and

tolerances is critical to success

Companies with thin package

capabilities are winning

17

May 2016

Die Bonding39.7%

Flip Chip15.8%

Die Sorting3.0%

Singulation9.3%

Presses11.2%

Molds13.5%

Lead Trim & Form5.5%

Plating2.0%

Assembly Equipment Market Composition

• Half of assembly market represented by die attach and packaging equipment

• Die Attach represents Besi’s largest addressable market

Die Attach

59%

Packaging

39%

Plating

2%

Assembly Equipment Market *

(2014: $3.9 billion)Besi Addressable Market *

(2014: $1.7 billion)

* Source: VLSI August 2015

Wire Bonding21.7%

Die Attach29.7%Packaging

21.8%

Plating0.9%

Other Assembly

(Inspection, Dicing)25.9%

18

May 2016

Advanced Packaging Is the Future

• High growth applications require ever smaller, denser and more complex chips with increased performance, all at lower power usage

• <20 nanometer geometry will be the standard chip design over the next 3-5 years

• System on Chip or System in Package via substrate and wafer level packaging process is the only answer

• Besi has full range of AP systems. 2015 revenue: 70% substrate/wafer level vs. 30% leadframe

High Growth End

User Areas:

Mobile internet,

Autos, MEMS,

Data Mining,

Cloud Servers,

IoT, Wearable

devices

19

Increased Density

Greater Complexity

Greater Miniaturization

Higher Performance

Lower Power Consumption

Higher Accuracy

Esec DB2009

Esec DB2100

Datacon 8800 CHAMEO fan-out

Fico ASM-LM

Fico Sawing Line

Datacon 8800 TC

Fico Compact Line - X

FML wafer molding

May 2016

Advanced Packaging Unit Volume and Market

Share Are Increasing

• 32% of wafers use advanced packaging

interconnects currently

• Rapid expansion in mobile demand

• All future personal devices will use

advanced packaging

• Advanced packaging production wafers

9.5% CAGR vs. 5.6% CAGR overall

• Flip chip and WLP are leading AP

assembly processes next 5 years:

• Flip Chip 5.0%, WLP 7.5% CAGR

• Fan out WLP and TSV/TCB are

emerging

• OSATs have significant investment

20

9.3%11.7%

18.0%

25.3%

29.5%31.1%

32.7%34.2% 35.2% 36.2%

0.0%

5.0%

10.0%

15.0%

20.0%

25.0%

30.0%

35.0%

40.0%

45.0%

-

5

10

15

20

25

30

35

40

45

2010 2011 2012 2013 2014 2015 2016 2017 2018 2019

AP

Mark

et S

hare

%

M w

afe

rs, 300M

M E

q.

Advanced Packaging Silicon Demand Growth & Market Share

Advanced Packaging Wafers CAGR 2010-2019: 21.8%

0

5

10

15

20

25

30

35

40

2010 2011 2012 2013 2014 2015 2016 2017 2018 2019

M w

afe

rs, 300m

m E

q.

Substrate Demand for Advanced PackagingFlip Chip Wafer Level Packaging TSV (3D & 2.5D) Fan-Out Wafer Level Packaging

Source: VLSI Feb 2016

May 2016

Driven Primarily by Growth in Internet Connected Devices

• 35% CAGR device growth forecast over next 5 years

• Powered primarily by devices used for IoT, Data mining and Cloud applications

• Positive trajectory for smart phones, wearables and automotive

21

May 2016

Requiring Changes in Process/Equipment Development

22

Today => TomorrowFront End

Transistor scaling

Lithography

New structures 3D

Back End Assembly

More contacts

Smaller pitches

Thinner/denser

more complex packages

Stacked structures 3DFrom simple Wire Bond to BGA/Flip Chip to complex 3D structures with TSVs,

microbumps and thin dies

May 2016

• Spending on <25 nano nodes has increased from ~15% in 2011 to an

estimated 70% of total spending in 2015

• Node shift below 25 nano = new assembly equipment capacity

Which Has Significantly Increased Equipment Spending for < 25 Nano Nodes

23

May 2016

Computer,

PCs50%

Mobile

Internet Devices

22%

Auto13%

Industrial

10%

LED3%

Service

2%

2008

And Is Reflected in Besi End User Application Trends

Computer,

PCs22%

Mobile Internet Devices

32%

Auto18%

Industrial10%

LED3%

Spares/ Service

15%

2015

Source: Company Estimates

• Mobile internet devices

now equal 32% of

Besi’s end user

revenue

• Automotive has also

increased in recent

years

• Service/spare parts

have grown to 15%.

Less cyclical revenue

stream

24

May 2016

New Smart Phone Designs Increase Besi’s Addressable Market Potential

• Besi systems can assemble 50% of 2012 generation components and 70% of 2014 generation components

- NewMain Components

Generation

2012

Generation

2014Manufacturer IDM/OSAT Besi system Utilized

Processor X X Apple TSMC ->Amkor/Stats/ASE 8800FCQ, AMS-W/LMDRAM Memory X X Hynix/Micron Hynix/Micron 2100sD, FSLNAND Flash X X Hynix/Toshiba Hynix/Amkor/Toshiba 8800FCQ, AMS-W/LMPower Management

Apple PM IC X Dialog Dialog 2100sDPMIC X X Qualcomm N/A

M3 Microcontroller X NXP Amkor/NXP 8800FCQ, AMS-W/LMAccelerometer/Gyroscope/Barometric

Gyroscope X X Invensense Amkor/ASE/STM 2100xP, 2100sD, AMS-W/LM, FCL3-ax accelerometer X Bosch Bosch evobarometric sensor X Bosch Bosch evo

CommunicationsGeneration

2012

Generation

2014Manufacturer IDM/OSAT Besi system Utilized

Wifi/NFCWifi module X X Murata Murata Murata's equipmentNFC X NXP Amkor 8800FCQ, AMS-W/LMNFC Booster IC X AMS Daca N/A

LTELTE Modem X Qualcomm Amkor/Stats/Spil/ASE 8800FCQ, AMS-W/LMLow Band LTE PAD X Skyworks Skyworks 2200evo, FSLMid Band PAD X Skyworks Skyworks 2200evo, FSLHigh Band PAD X Avago ASE/Amkor 2100xP, 2100sD, AMS-W/LM

Receiver/TransceiverRF Transceiver X X Qualcomm Amkor 2100xP, 2100sD, AMS-W/LMRF Receiver X X Qualcomm N/AEnvelop Tracking IC X Qualcomm TSMC ->Amkor/Stats/ASE 8800FCQ, AMS-W/LM

Antenna Switch X X RFMD Amkor/ASE,/RFMD 2100xP, 2100sD PA

PA X X Avago ASE/Amkor 2100xP, 2100sD, AMS-W/LMPA Module X Triquint ASE 2200evo, 2100sD

Video/AudioGeneration

2012

Generation

2014Manufacturer IDM/OSAT Besi system Utilized

CameraBack side 8M (OSI) X X Apple LG, Sharp, Mitsumi 2200evoFront 1.2M X X Apple Cowell, Sony 2200evo

Finger print sensor X Apple ASE 2200evoAudio

2+4 microphones X ST ST 2100 xpAudio Codec X X Cirrus Logic Amkor 2100xP, 2100sD, AMS-W/LM

Touch screen controlTouch screen control X X Broadcom Signetics 2100sDTouch Transmitter X TI TI FCL

25

May 2016

Flip Chip/Wire Bond Process Shift Is Another Revenue Opportunity

Wire Bonding Flip Chip Bonding

Reduces board area by up to 95%.

Requires far less height

Offers higher speed electrical

performance

Greater I/O connection flexibility

More durable interconnection

method

Lower cost for high volume production,

with costs below $0.01 per connection

Flip Chip Advantages

* Source: VLSI January 2016

26

• Move to <20 nanometer can only be accomplished by use of flip chip die bonding vs. wire bonding process

• Flip chip revenue represents only 29% currently of total potential market of $1.2 billion

• Flip chip expected to gain share over next 5 years

• Growth could accelerate depending on adoption rates by key IDMs/subcons

CAGR 2014 - 2020*

Flip Chip 7.2%

Wire Bond - 0.7%

Flip Chip$538 39%

Wire Bonding

$827 61%

2020*

Flip Chip$356 29%

Wire Bonding

$861 71%

2014*

May 2016

Thermo Compression Bonding Is An Emerging Assembly Technology

• Besi has most advanced industry concept

• 7 Axis bondhead, 2 bond heads/system

• High throughput => 2x competition

• User friendly compact design

• Orders significantly expanded in 2015

• Competition: ASM-PT, Toray, Shinkawa & KLIC

• Memory producers first TCB adopters

• Issue: Memory performance lags CPU performance

• Solution: Advanced stacking design using TCB/TSV

• 15x Higher transfer speeds

• 70% Less energy per bit, 90% less space

• Wire bonding process eliminated

27

Wire Bonded BGA Stacked Die Memory Device

TSV TCB Memory Cube

Wire Bond connections replaced by direct connection

Besi TCB system

May 2016

Besi Has Gained Share In Its Addressable Markets

• Gaining share in fastest growing segments of the assembly equipment market:

• Flip chip and multi module die attach and ultra thin molding for advanced

packaging applications

Besi Market Share

Source: VLSI, May 2015 and Besi estimates 2012 2013 2014

Total Assembly Equipment Sales 8.6% 10.6% 12.7%

Besi Addressable Market 21.4% 26.0% 28.4%

Total Die Attach Equipment 26.8% 31.2% 34.7%Die Bonding 29.7% 39.2% 38.7%Flip Chip 22.2% 24.4% 31.8%Other 17.1% 4.8% 9.1%

Total Packaging Equipment 11.1% 15.9% 16.4%Molds 12.0% 19.1% 19.5%Lead Trim & Form 15.0% 17.6% 19.0%Singulation 5.3% 5.1% 6.8%

Total Plating 75.8% 82.3% 75.4%

28

May 2016

• Customers are largest semi mfrs.

• Engaged in most advanced

packaging applications

• Strong customer market shares:

• 30-100% of die attach

requirements

• 25-100% of packaging

requirements

• Customer market shares p.a. vary

based on capacity needs,

purchasing and development cycles

• Primary competition:

• Die Attach: ASM-PT, Hitachi,

Shinkawa, Toray

• Packaging: Towa, Hanmi,

ASM-PT

Share of Wallet Increasing

N/B No reported bookings for Besi nor its competitors

a) Merger completed August 2015

b) Fabless semiconductor companies such as Qualcomm, Broadcom and Mediatek have assembly production

done by subcontractors

c) Samsung satisfies most of its equipment needs internally, particularly for leading edge applications

In USD 2012 2013 2014 2015 2012 2013 2014 2015

Subcontractors

ASE 65% 60% 70% 80% 35% 65% 35% 25%

Amkor 75% 85% 90% 95% 45% 10% 20% 25%

JCET (a) 75% 50% 70% 30% 0% 10% 0% 5%

STATSChippac (a) 95% 100% 85% N/B 30% 100% 100% N/B

SPIL 50% 95% 90% 100% 35% 75% 20% 25%

Nantong Fujitsu N/B 70% 100% 100% N/B 15% 0% 35%

UTAC N/B N/B 100% 100% N/B 100% N/B 100%

Unisem 90% 85% 100% 100% N/B N/B N/B 100%

Cowell/Foxconn

(Camera Modules)

IDMs (b)

Skyworks 100% 95% 100% 100% 15% 25% 40% 90%

ST Micro 90% 70% 80% 95% 45% 75% 40% 45%

Infineon 80% 100% 100% 90% 0% 25% 90% 95%

Micron 85% 100% 45% 80% 50% N/B 100% 100%

NXP N/B 100% 100% 100% N/B 5% 100% 55%

Bosch Europe 100% 100% 100% 95% 100% 0% 100% 100%

Samsung (c) 5% 0% N/B N/B 0% 100% N/B N/B

% of product revenue 49%  52% 64% 41% 54% 70% 65% 70%

Die Attach Packaging

100% N/B 100% 65% N/B N/B N/B N/B

29

May 2016

III. STRATEGY

30

May 2016

Summary Strategy

• Maintain best in class tech leadership in advanced packaging

• Expand tech capabilities and applications for TCB, thin die, eWLB die bonding; large area, ultra thin and wafer level molding

• Further develop expertise in solar and battery plating applications

Develop new products and markets

• Leverage lead in core competencies at expense of Japanese and Asian competitors

• Capitalize on <20 nano expertise to exploit new device introductions, further penetrate largest smart phone supply chains and expand in Chinese handset market

• Apply TCB tech advantage to more mainstream applications

Increase market share in addressable markets

• Expand Asian materials sourcing and direct shipments

• Expand Malaysian, Singapore and Chinese operations. Target more local production. Shorter cycle times

• Develop common platforms, common modules and common parts

• Continue to reduce euro based costs

Achieve a more scalable, flexible and lower cost manufacturing model

• Expand tech leadership in advanced packaging including wafer level assembly

Acquire companies with complementary technologies and products

31

May 2016

Besi Revenue Growth Drivers

Revenue Growth Drivers

World tooling up for new

tech cycle <20 nano

Increased smart phone functionality

New device introductions: IoT, wearables

Wire bond/flip chip

conversion

Solar cell plating

transition from copper to

silver

Increased share of

Japanese supply chain and China handsets

TCB expansion to memory and logic devices

32

May 2016

Key R&D Initiatives

Initiative/Timetable

Enhance TCB & eWLB die bonding systems

Introduction of next generation systems

Expand solar and battery plating applications

Common parts/platform activities

2015 2016

• Volume production of leading edge TCB systems

• Introduction/delivery of new <5 micron flip chip and eWLB systems for higher volume production

• Roll out of next generation die attach, packaging and die sorting systems with higher speed and accuracy

• Introduction of new solar and 3D lithium-ion battery plating systems

• Ongoing development of TCB, TSV, copper pillar and WLP

2015 Highlights

33

May 2016

Key Operational Initiatives

Initiative/Timetable

Transfer certain Die Attach functions to Singapore

Transfer die bonding production for local market from Malaysia to China

Transfer Plating Production from NL to Malaysia

10% fixed & temporary headcount reduction

Transfer die sorting from Austria to Malaysia

Expand Asian supply chain. System module outsourcing

2015 2016

34

May 2016

Asian Production Transfer Has Helped Reduce Break Even Revenue Levels

Asian Production Has Significantly Expanded

Leading to Lower European Headcount

And Reduced Break Even Revenue Levels

396

487

658 673

963

709

170

331

553 579

927

666 43%

68%

84% 86%

96%94%

0%

10%

20%

30%

40%

50%

60%

70%

80%

90%

100%

-

200

400

600

800

1,000

1,200

20

10

20

11

20

12

20

13

20

14

20

15

% D

irect

Sh

ipm

en

ts

Sh

ipm

en

ts

Total Asian ShipmentsDirect Asian Shipments% Direct

741 680 624 602 549

802 799

810 908 950

1,543 1,479

1,434 1,510 1,499

-

200

400

600

800

1,000

1,200

1,400

1,600

1,800

2011

2012

2013

2014

2015

Head

co

un

t

Europe/NA Fixed HC Asia Fixed HC

270

235

212 207 201

-

50

100

150

200

250

300

2011

2012

2013

2014

2015

(€m

illi

on

s)

35

May 2016

Workforce Has Become More Scalable and Flexible

741 680 624 602 549 533

802 799 810 908 950 951

64 60

24 122

40 106

1,6071,539

1,458

1,6321,539 1,590

0.0%

1.0%

2.0%

3.0%

4.0%

5.0%

6.0%

7.0%

8.0%

9.0%

10.0%

-

200

400

600

800

1,000

1,200

1,400

1,600

1,800

2,000

2011 2012 2013 2014 2015 Q1 2016

Tem

p %

of

Tota

l

Headcount

Europe/NA Fixed HC Asia Fixed HC Temporary HC Temp % of Total

1,543 1,479 1,434

1,510 1,499 1,484

52%54%

56%

60%

63% 64%

48%46%

44%

40%

37% 36%

30%

40%

50%

60%

70%

0

200

400

600

800

1,000

1,200

1,400

1,600

1,800

2011 2012 2013 2014 2015 Q1 2016

Headcount

Europe/NA Fixed HC Asia Fixed HC Asia % Europe/NA %

Fixed Headcount

Total Headcount

36

• Aggregate headcount down 2.6%

vs. 2014

• -5.6% since Q2-15

• European fixed headcount

continues to decline:

• -28.1% since 2011

• -11.5% vs. 2014

• Asia now represents 64% of total

fixed headcount

May 2016

Materials Cost Reduction Is Also a Key Priority

• Qualify and select Asian Vendors

• 75% of material is now purchased in Asia

• Significant potential cost savings

Supply Chain Actions

• Redesign products

• Increase standardization of systems

Development Actions

45-50% thru

cycle Gross

Margin

• Material costs represent largest single expense: approximately 45% of revenue

• Management Board reviews progress weekly component by component

• Shift to Asia centric supply chain reduces personnel, transport, logistics and inventory costs

• Also improves cycle time and ramping flexibility

Estimated savings 2014 2015E 2016/17E

Headcount € 0.9 MM € 2.8 MM € 1.0 MM

Materials Cost € 2.7 MM € 1.6 MM € 1.5 MM

Subtotal € 3.6 MM € 4.4 MM € 2.5 MM

37

May 2016

Partially Achieved Through Common Parts Product Redesign

• Magazine handler

• Wafer gripper

• Dispenser

• Wafer table

• Wafer Cassette Handler

• Die Ejector

• Control Platform

Areas of focus:

Potential Unit Cost Savings

DB2100 (7%)

2200evo (11%)

8800FCQ (11%)

Average (9%)

• Development efforts underway to redesign die attach and packaging systems to increase

common parts utilized per system

• Benefits: Lower unit cost, design and maintenance hours, improved working capital management,

shorter cycle times

38

May 2016

IV. FINANCIAL REVIEW

39

May 2016

€ 77.8 € 79.0

14.0%* 11.0%*

12.4%10.1%

-5%

5%

15%

25%

35%

45%

55%

65%

75%

85%

95%

(€ 5)

€ 15

€ 35

€ 55

€ 75

€ 95

Q4 2015 Q1 2016

Net

marg

in %

€m

illio

ns

Revenue Net Income ex. NR Non Recurring

Financial Highlights

Q1-16/Q4-15 FY 2014/FY 2015

€ 378.8

€ 349.2

17.0% 13.4%

18.8%

14.0%

0%

10%

20%

30%

40%

50%

60%

70%

80%

90%

0 €

50 €

100 €

150 €

200 €

250 €

300 €

350 €

400 €

450 €

2014 2015*

Net

marg

in %

€m

illio

ns

Revenue Net Income ex. NR Non Recurring

Gross Margin

OPEX

Headcount

Effective Tax Rate

0.3% 14.3%

1,632 1,539

€ 93.8

MM

€ 112.5

MM

43.8% 48.8%

-5.7%

+14.0 points

+19.9%

+5.0 points

-4.8 points

€ 64.5* € 46.9*

-7.8%

€ 6.5

€ 2.1

* As adjusted* As adjusted

40

Gross Margin

OPEX

Headcount

Effective Tax Rate

+51

-5.3 points

+10.2%

-0.8 points

20.6% 15.2%

1,539 1,590

€ 26.5

MM

€ 29.2

MM

50.0% 49.2%

+1.5%

-2.3 points

(€ 1.2) (€ 0.7)

€ 8.7*€ 10.9*

May 2016

Quarterly Book to Bill Ratio

Mar 13 Jun 13 Sept 13 Dec 13 Mar 14 Jun 14 Sept 14 Dec 14 Mar 15 Jun 15 Sept 15 Dec 15 Mar 16 (F)

Total Equipment 1.11 1.10 0.97 1.02 1.06 1.10 0.94 0.99 1.10 0.98 1.04 1.00 1.15

Assembly Market 1.08 1.26 0.68 1.06 1.25 1.25 0.69 0.84 1.34 0.92 0.72 1.63 1.00

Besi 1.00 1.14 0.74 1.07 1.59 1.10 0.88 0.91 1.10 0.88 1.04 0.99 1.32

1.11

1.10 0.97

1.10

0.94

1.10 1.04

1.00

1.15

1.08

1.26

0.68

1.25

0.69

1.34

0.72

1.63

1.00

0.50

0.75

1.00

1.25

1.50

1.75

Source: SEMI February 2016

Assembly

Equipment

Total Semi

Equipment

41

Besi

May 2016

• Cyclical quarterly revenue/order

patterns:

• Short term patterns due to customer

roadmaps, global GDP trends and

increased seasonality

• Q4-15 appears to be most recent trough

• Strong order growth in Q1-16 despite

uncertain economic environment

• Gross margins have improved despite

cyclicality:

• Lower unit costs:

• Asian production/supply chain transfer

• Reduction in European personnel

• Increased scalability

• Larger production runs

• Shorter cycle times

• Forex benefits from strengthening USD

vs. euro

Quarterly Revenue/Order/Gross Margin Trends

94.9

104.3

72.1

77.8 79.0

96.8

104.2

91.9

74.9 77.3

103.9

49.0%47.9%

48.7%50.0%

49.2% 49.0%

30.0%

35.0%

40.0%

45.0%

50.0%

55.0%

60.0%

65.0%

70.0%

-

20.0

40.0

60.0

80.0

100.0

120.0

Q1-15 Q2-15 Q3-15 Q4-15 Q1-16 Q2-16E*G

ross M

arg

in %

eu

ro in m

illio

ns

Revenue Orders

Gross Margin Adjusted Gross Margin

* Midpoint of guidance: Revenue +20-25% vs. Q1-16, Gross Margin

between 48-50%

42

May 2016

Currency Exposure Trends

Currency Exposure (2015) Forex Financial Impact

• USD/euro revenue mix relatively stable at 70/30%

• Cost exposure shifting: Asian production transfer increases relevance of MYR, Chinese renminbi and Singapore dollar to cost structure

• Euro and CHF cost % should reduce in 2016 based on 2015 operating initiatives

Revenue Expenses

2013 2014 2015 2015 ∆ vs. € 2013 2014 2015 2015 ∆ vs. €

Euro 28% 34% 29% - 34% 32% 31% -

US dollar 71% 65% 70% +11.4% 7% 4% 5% +11.4%

Swiss franc - - - 26% 18% 22% +10.7%

Malaysian ringgit - - - 22% 37% 28% -9.4%

Chinese renminbi - - - 5% 5% 7% +6.5%

Singapore dollar - - - 3% 2% 4% +4.2%

Other 1% 1% 1% - 3% 2% 3% -

Total 100% 100% 100% - 100% 100% 100% -

* Through December 31, 2015

43

May 2016

Base Line Operating Expense Trends

21.8 25.7

23.6 22.4 23.5

3.5

6.3

5.1 4.1

5.7 25.3

32.0

28.7

26.5

29.2

0

5

10

15

20

25

30

35

Q1-15 Q2-15 Q3-15 Q4-15 Q1-16

Other Operating Expenses

Base Opex

Baseline Opex 21.8 25.7 23.6 22.4 23.5

Other Operating Expenses

Capitalization of R&D (1.5) (1.4) (1.2) (1.5) (1.8)

Amortization of R&D 1.7 2.2 2.3 2.4 2.2

Capitalization & Amortization , net 0.2 0.8 1.0 0.9 0.4

Variable Pay (a) 4.0 3.5 2.7 2.3 5.0

Restructuring cost/(benefit) (3.0) 0.1 0.2 0.0 0.4

Forex Influence (b) 2.3 1.9 1.2 0.9 (0.1)

Subtotal 3.5 6.3 5.1 4.1 5.7

Total 25.3 32.0 28.7 26.5 29.2(a) Includes both incentive comp and sales based variable comp

(b) Year over year comparison

44

May 2016

Quarterly Net Income Trends

• € 8.0 million Q1-16 net income (€ 8.7 million

adjusted)

• -€ 1.7 million vs. Q4-15 (-€ 2.2 million

adjusted)

• -€ 9.5 million vs. Q1-15 (-€ 5.5 million

adjusted)

• Q1-16 adjusted net margin is a healthy 11.0%

post H2-15 industry downturn

• Gross margins remain at high end of target

range of 45-50%

• Baseline opex of € 20 – € 25MM provides

significant operating leverage

45

€ 14.2

€ 15.5

€ 10.9

€ 8.7

€ 3.3

-€ 1.2 -€ 0.7

€ 17.5

€ 15.5

€ 6.3

€ 9.7

€ 8.015.0% 14.9%

8.7%

14.0%

11.0%

-5%

0%

5%

10%

15%

20%

25%

30%

35%

40%

(3)

0

3

6

9

12

15

18

21

24

Q1-15* Q2-15 Q3-15 Q4-15 Q1-16

(euro

in m

illio

ns)

Net Income ex. NR Non Recurring Net Margin ex. NR

* Adjusted to exclude:

• Deferred tax adjustment (Q4-15) (€ 1.2 million)

• Net restructuring benefit (Q1-15) (€ 3.3 million)• Restructuring charges (Q1-16) (€ 0.7 million)

May 2016

Liquidity Trends

• Solid liquidity position

• € 169.8 million cash at 3/31/16

• € 4.41 per share or 16.8% of stock price (€

26.31)

• Net cash of € 148.4 million, up 25.8% vs

year end 2014

• Has been utilized to enhance shareholder

value

• € 170 million spent on cash dividends and

share repurchases 2011-2016

• 1.0 million (3%) share repurchase program

initiated at end of Q3-15

• € 11 million (568,831 shares) repurchased

through April 29, 2016

46

161.6

113.7

132.8

157.8

169.8

28.5 22.3 23.8 21.4 21.4

133.1

91.4

109.0

136.5

148.4

0

20

40

60

80

100

120

140

160

180

Q1-15 Q2-15 Q3-15 Q4-15 Q1-16

(eu

ro in

mill

ion

s)

Cash Debt Net Cash

May 2016

V. OUTLOOK & SUMMARY

47

May 2016

Q2-16 Guidance

Revenue Gross Margin Operating Expenses

Q1 Q2 Q1 Q2 Q1 Q2

€ 79.0 49.2% € 29.2

• Revenue +20-25% vs. Q1-16

• Gross margins 48-50%

• Opex up 0-3% vs. Q1-16

• Significant sequential operating growth forecast based on revenue growth and

cost/expense development

• Share repurchase program continues

50%

-

48%

+20%

to

+25%

0%

to

+3%

48

May 2016

Summary

Leading semi assembly equipment supplier with #1

or #2 positions in fastest growing assembly

segments

Technology leader. Best in class product portfolio

Gaining market share in advanced packaging

Scalability and profitability of business model greatly

enhanced in cyclical industry

Significant upside potential.

Advanced packaging growth from new

technology cycle, operating initiatives and optimization of Asian production model

Committed to enhancing shareholder value.

Attractive dividend yield relative to peers

49