INVESTOR PRESENTATIONJanuary 2016

Safe Harbor Statement

This presentation contains statements about management's future expectations, plans and prospects of our business thatconstitute forward-looking statements, which are found in various places throughout the press release, including , but notlimited to, statements relating to expectations of orders, net sales, product shipments, backlog, expenses, timing ofpurchases of assembly equipment by customers, gross margins, operating results and capital expenditures. The use ofwords 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 lookingstatements contain these identifying words. The financial guidance set forth under the heading “Outlook” constitutes forwardlooking statements. While these forward looking statements represent our judgments and expectations concerning thedevelopment of our business, a number of risks, uncertainties and other important factors could cause actual developmentsand results to differ materially from those contained in forward looking statements, including the discovery of weaknesses inour internal controls and procedures, our inability to maintain continued demand for our products; the impact on ourbusiness of potential disruptions to European economies from euro zone sovereign credit issues; failure of anticipatedorders to materialize or postponement or cancellation of orders, generally without charges; the volatility in the demand forsemiconductors and our products and services; failure to adequately decrease costs and expenses as revenues decline,loss of significant customers, lengthening of the sales cycle, incurring additional restructuring charges in the future, acts ofterrorism and violence; inability to forecast demand and inventory levels for our products, the integrity of product pricing andprotect 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; thoseadditional risk factors set forth in Besi's annual report for the year ended December 31, 2014 and other key factors thatcould adversely affect our businesses and financial performance contained in our filings and reports, including our statutoryconsolidated statements. We are under no obligation to (and expressly disclaim any such obligation to) update or alter ourforward-looking statements whether as a result of new information, future events or otherwise.

January 2016 2

Agenda

I. Company Overview

II. Market

III. Strategy

IV. Financial Review

V. Outlook & Summary

3January 2016

I. COMPANY OVERVIEW

4January 2016

Besi Overview

• Leading assembly equipment supplier with #1 and #2 positions in key products. 28.5% addressable market share

• Broad portfolio: die attach, packaging and plating• Strategic positioning in substrate and wafer level packaging • Global mfg. operations in 6 countries; 1,628 employees

worldwide. HQ in Duiven, the Netherlands

Corporate Profile

• LTM revenue and net income of € 360.4 and € 59.0 million• Cash at 9/30/15: € 109.0 million• Total debt at 9/30/15: € 23.8 million• € 115 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

5January 2016

€ 85.5

€ 360.4

25.9%

47.3%

20%

25%

30%

35%

40%

45%

50%

55%

0

100

200

300

400

2003 LTM

Gro

ss M

argi

n (%

)

Rev

enue

(€

mill

ions

)

Revenue Gross Margin

Company History

•2000 2002 2005 2009

Die Attach Acquisitions

•2006 Dragon I complete: € 6 million cost savings•2008 Dragon II complete: € 15 million cost savings•2010 Plan: € 7.0 million cost savings. Headcount and product line restructuring

•2012 : € 8.3 million cost savings. Headcount reduction. Plating unit rationalized

•2014: US die sorting operations rationalized. Transferred to Besi Austria•2015: 10% headcount reduction announced. € 12-14 million savings

Restructuring

•2006-09 Standard packaging and certain die bonding systems transferred to Malaysia

•2007-09 Dutch tooling & Hungarian die bonding transferred to Asia•2009-11 Epoxy die bonder transferred to Malaysia•2003-12 Malaysian system and Chinese tooling capacity expansion. •2013 Soft solder die bonder transferred to Malaysia•2006-14 Asian headcount increased from 34% to 59%•2015: Transfer of certain software engineering, logistics and related administrative functions from Switzerland to Singapore

•2015: Transfer of plating production from NL to Malaysia

Asian Production Transfer

6January 2016

Best in Class Product Portfolio

• Molding- AMS series- AMS LM 95- MMS series- FML

• Die Bonding- 2100 xPplus

- 2100 sDplus

- 2100 sD PPPplus

- 2100 hS- 2009 SSI- 2100 DS- 2100 SC

Die Attach Packaging & Plating

• Multi Module Die Attach- 2200 evo- 2200 evo plus

• Flip Chip- 8800 FCQ Sigma- 8800 CHAMEO- 8800 TCB - 2100 FC

• Trim & Form- Compact series- Power series- Compact Line XHD- Compact Line P New

• Plating- Leadframe- Solar- Film & Foil

In Development

•Next generation Die Attach

•Next generation Packaging

•Common modules

Datacon/Esec

Datacon

Esec

Fico

Meco

Fico

New

Fico

• Singulation- FSL

New

New

• Die Sorting- DS 9000E- WTT- TTR- DLA

Datacon

NewNew

New

7

New

New

January 2016

New

Dicing

Semiconductor Assembly Process

Die Attach Wire Bond Packaging Plating

Leadframe Assembly

SubstrateWire Bond Assembly

SubstrateFlip Chip Assembly

Wafer Level PackagingFlip 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%)

January 2016

Customers OEMs End Products

Customer Ecosystem

• Blue chip customer base, top 10 = 60% of 2014 revenue • Leading IDMs and subcontractors. 60/40% split in 2014• Equipment utilized to produce chips for leading fabless companies: Qualcomm,

Broadcom, MediaTek• Long term relationships, some exceeding 45 years

IDMs

Subcontractors

9January 2016

Current Operational Profile

as of September 30, 2015

Europe/NA Asia

Revenue (MMs) € 90.3 33.3% € 181.1 66.7%

Headcount 630 38.7% 998 61.3%

• Development activities in Europe

• Production and sales/service activities in Asia

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

10January 2016

Year Ended December 31, (€ millions, except share data) 2012 2013 2014

YTD 2014

YTD 2015

Revenue 273.7 254.9 378.8 289.7 271.4

Orders 276.1 251.9 407.6 326.2 271.0

Gross margin 40% 40% 44% 44% 49%

EBITDA 32.4 27.9 82.1 65.2 56.1

Pretax income 19.5 19.2 71.3 57.1 44.9

Net income 15.8 16.1 71.1 51.4 39.3

EPS (diluted) 0.42 0.43 1.87 1.36 1.02

Net margin 6% 6% 19% 18% 15%

Net cash 79.5 71.0 118.0 86.1 109.0

Summary Historical Financials

• Record 2014 Results:• Revenue and orders +48.6% and 61.8%• Gross Margin +4.0% to 43.8%• Net Income +341% to € 71.1 million • Net cash +€ 47.0 million• Positioning in advanced packaging

accelerated market share gains• Enhanced profit potential of business

model demonstrated

• YTD-15 Results:• Adverse comparisons due to industry

downturn• Healthy profit and margins realized• Cash position continues to build

• Operating initiatives have supported gross and net margin development

• Solid liquidity base to finance growth and shareholder returns

11January 2016

Stock Price Information

• € 745.43 million ($846.17 million) market capitalization as of October 22, 2015• Upgraded to Euronext AMX mid cap index in March 2015

Market profile improving:

• Average daily volume:• 2013: 99,811• 2014: 117,084• 2015: 322,253

Liquidity has increased significantly over past three years:

• Top 10 shareholders ≈ 30% of shares outstanding. Down from ≈ 60% in 2011• Largest shareholder less than 7% currently

Share concentration has reduced:

• 40% NL• 30% US• 30% Europe ex NL

Geographic ownership has diversified:

• 7.8% as of October 22, 2015• Dividend payout ratio of between 40-80% net income per annum

Highest dividend yield among peers

12January 2016

Dividend Trends

0.20 0.22 0.30 0.33

1.50

1.25

0.73

0.42 0.43

1.87

4.0%4.3%

5.2%

4.0%

8.1%

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

2010 2011 2012 2013 2014

Div

iden

d yi

eld

Div

iden

d (€

)

Dividend EPS (diluted) Total Dividend Yield (a)

a) Based on year end stock price

16% 30% 71% 77% 80%Payout Ratio:

13January 2016

II. MARKET

14January 2016

Assembly Equipment Market Trends

15January 2016

• VLSI recently downgraded 2015 and 2016 forecasts significantly• Growth expected to reaccelerate in 2017 and 2018• Besi revenue growth exceeding assembly market in 5 of past 6 years

326.9

273.7 254.9

378.8

289.8 271.4

-16.3%-6.9%

48.6%

-6.3%

-50%

0%

50%

100%

150%

-

100.0

200.0

300.0

400.0

2011 2012 2013 2014 YTD 2014 YTD 2015

(€m

illio

ns)

Besi Revenue Revenue YoY Growth Rate

4.44.0

3.1

3.93.4 3.3 3.6

4.33.8

4.0

(9.2%)

(22.4%)

28.1%

(13.6%)

(3.9%)

11.3%

18.3%

(12.2%)

7.0%

-30%

-20%

-10%

0%

10%

20%

30%

0.0

1.0

2.0

3.0

4.0

5.0

2011 2012 2013 2014 2015F 2016F 2017F 2018F 2019F 2020F

(US

$ bi

llion

s)

Assembly Equipment Market Size YoY Growth Rate

Source: VLSI January 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%

Plating2%

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%

16January 2016

Advanced Packaging Unit Volume and MarketShare Are Increasing

• Advanced Packaging (Flip Chip/WLP) is fastest growing assembly process

• In growth phase with move to <20 nano internet device applications

Source: VLSI February 2015

10%13%

19%

26%

31%32%

34%35% 37% 38%

0%

5%

10%

15%

20%

25%

30%

35%

40%

-

5

10

15

20

25

30

35

40

45

2010 2011 2012 2013 2014 2015 2016 2017 2018 2019

AP

Mar

ket S

hare

%

M w

afer

s, 3

00M

M E

q.

Advanced Packaging Silicon Demand Growth & Market S hare 2010 - 2019

Advanced Packaging Wafers

Advanced Packaging Unit Market Share (%)

CAGR 2010-2019: 21.1%CAGR 2014-2019: 10.3%

17January 2016

Driven Primarily by Growth in Internet Connected Devices

• Key End Use Applications:• Mobile internet devices,

connectivity, computing power, Big Data analytics, automotive

• 35% CAGR device growth forecast over next 5 years

• Powered primarily by devices used for IoT

• Positive trajectory for smart phones, tablets, wearables, and automotive

18January 2016

Requiring Changes in Process/Equipment Development

19

Today => TomorrowFront End

Transistor scaling

Lithography

New structures 3D

Back End Assembly

More contacts

Smaller pitches

Thinner/densermore complex packages

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

microbumps and thin dies

January 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

20January 2016

Advanced Packaging Growth Favors Besi

Greater Miniaturization

Greater Complexity

Increased Density

Higher Performance

Lower Power Consumption

Higher Accuracy

• 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. 2014E revenue: 70% substrate/wafer level vs. 30% leadframe

Die Attach• Die Sorting : DS 9000, WTT, TTR,

DLA• Die Bonding : ES 2009, ES2100• Flip Chip : DC 8800, ES2100• TCB: DC 8800, TCB• Multi Module : DC evo 2200

Packaging• Molding : AMS-LM 95• Singulation : FSL

High Growth EndUser Areas:

Mobile internet, Autos, MEMS, Big

Data, Cloud Servers, IoT,

Wearable devices

Datacon Esec Fico

21January 2016

Computer,

PCs

50%

Mobile

Internet

Devices

22%

Auto

13%

Industrial

10%

LED

3%

Service

2%

2008

And Is Reflected in Besi End User Application Trends

Computer,

PCs

20%

Mobile

Internet

Devices

35%

Auto

17%

Industrial

10%

LED

3%

Spares/

Service

15%

2014

Source: 2014 Company Estimates

• Mobile internet devices now equal 35% of Besi’s end user revenue

• Automotive has also increased significantly in recent years

• Service/spare parts have grown to 15%. Less cyclical revenue stream

22January 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/LM

DRAM Memory X X Hynix/Micron Hynix/Micron 2100sD, FSL

NAND Flash X X Hynix/Toshiba Hynix/Amkor/Toshiba 8800FCQ, AMS-W/LM

Power Management

Apple PM IC X Dialog Dialog 2100sD

PMIC X X Qualcomm N/A

M3 Microcontroller X NXP Amkor/NXP 8800FCQ, AMS-W/LM

Accelerometer/Gyroscope/Barometric

Gyroscope X X Invensense Amkor/ASE/STM 2100xP, 2100sD, AMS-W/LM, FCL

3-ax accelerometer X Bosch Bosch evo

barometric sensor X Bosch Bosch evo

CommunicationsGeneration

2012

Generation

2014Manufacturer IDM/OSAT Besi system Utilized

Wifi/NFC

Wifi module X X Murata Murata Murata's equipment

NFC X NXP Amkor 8800FCQ, AMS-W/LM

NFC Booster IC X AMS Daca N/A

LTE

LTE Modem X Qualcomm Amkor/Stats/Spil/ASE 8800FCQ, AMS-W/LM

Low Band LTE PAD X Skyworks Skyworks 2200evo, FSL

Mid Band PAD X Skyworks Skyworks 2200evo, FSL

High Band PAD X Avago ASE/Amkor 2100xP, 2100sD, AMS-W/LM

Receiver/TransceiverRF Transceiver X X Qualcomm Amkor 2100xP, 2100sD, AMS-W/LM

RF Receiver X X Qualcomm N/A

Envelop 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/LM

PA Module X Triquint ASE 2200evo, 2100sD

Video/AudioGeneration

2012

Generation

2014Manufacturer IDM/OSAT Besi system Utilized

Camera

Back side 8M (OSI) X X Apple LG, Sharp, Mitsumi 2200evo

Front 1.2M X X Apple Cowell, Sony 2200evo

Finger print sensor X Apple ASE 2200evo

Audio

2+4 microphones X ST ST 2100 xp

Audio Codec X X Cirrus Logic Amkor 2100xP, 2100sD, AMS-W/LM

Touch screen control

Touch screen control X X Broadcom Signetics 2100sD

Touch Transmitter X TI TI FCL

23January 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 October 2015

24

• 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 2.2%Wire Bond - 1.2%

Flip Chip$406 34%

Wire Bonding

$801 66%

2020*

Flip Chip$356 29%

Wire Bonding

$861 71%

2014*

January 2016

Thermo Compression Bonding Is An Emerging Assembly Technology

TCB: Next Die Bonding Process Evolution:

• Besi has most advanced industry concept• 7 Axis bondhead, 2 bond heads/system• High throughput => 2x competition• User friendly compact design

• Principal competition: ASM-PT, KLIC (in development) • Orders significantly expanded in 2015• Production transferred to Besi APac to reduce cost• Actively involved in 3D XPT program

• 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

25January 2016

Wire Bonded BGA Stacked Die Memory Device

TSV TCB Memory Cube

Wire Bond connections replaced by direct connection

Besi TCB system

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%

26January 2016

• Customers are largest semi mfrs. • Engaged in most advanced packaging applications

• Strong customer market shares:• ≈ 50-100% of die attach requirements

• ≈ 25-100% of packaging requirements

• Customer market shares p.a. vary based on capacity needs and purchasing cycles

• Primary competition:• Die Attach: ASM-PT, Hitachi,

Shinkawa, Panasonic, Toray• Packaging: Towa, Hanmi,

ASM-PT

And With Leading Edge Technology Customers

N/B No reported bookings for Besi or its competitorsa) Year to date through April 30, 2015b) Merger pendingc) Fabless semiconductor companies such as Qualcomm, Broadcom and Mediatek have assembly

production done by subcontractorsd) In general, Samsung satisfies approximately 50% of its equipment needs internally

Die Attach PackagingIn USD 2012 2013 2014 2015 (a) 2012 2013 2014 2015 (a)

SubcontractorsASE 67% 59% 69% 74% 36% 65% 36% 28%Amkor 75% 84% 89% 100% 45% 11% 22% 38%JCET (b) 75% 48% 67% N/B 0% 8% 0% N/BSTATSChippac (b) 95% 100% 85% N/B 28% 100% 100% N/BSPIL 47% 93% 89% 100% 37% 76% 19% 38%Nantong Fujitsu N/B 72% 100% 100% N/B 14% 0% 100%UTAC N/B N/B 100% 100% N/B 100% N/B 100%Unisem 92% 84% 100% 100% N/B N/B N/B N/BCowell/Foxconn

100% N/B 100% 100%(Camera Modules) N/B N/B N/B N/B

IDMs (c)Skyworks 100% 96% 100% N/B 13% 24% 38% 100%ST Micro 91% 72% 78% 94% 44% 76% 42% 46%Infineon 81% 97% 100% 100% 0% 24% 90% 100%Micron 86% 100% 43% 42% 50% N/B 100% 100%NXP N/B 100% 100% 100% N/B 7% 100% 86%Samsung (d) 5% 0% N/B N/B 0% 100% N/B N/B

% of product revenue 49% 52% 64% 51% 54% 70% 65% 70%

27January 2016

III. STRATEGY

28January 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

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 and

shorter cycle times• Develop common platforms, common modules and common parts • Continue to reduce euro based costs. Better align currency exposures

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

29January 2016

Besi Revenue Growth Drivers

30January 2016

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

Key Development and Operational Objectives

Development Objectives

Advanced TCB die bonding development

Introduction of next generation packaging systems

Common parts/platform activities

Operational Objectives

Transfer of certain Swiss Die Attach software, logistics and administrative functions to Singapore

Transfer of certain die bonding production from Malaysia to China

Transfer of Plating production from NL to Malaysia

10% fixed & temporary headcount reduction

Further reduction of European based costs

Expansion of Asian supply chain. System module outsourcing

2015 2016

January 2016 31

Asian Production Transfer Has Helped Reduce Break Even Revenue Levels

32

Asian Production Has Significantly Expanded

Leading to Lower European Headcount

And Reduced Break Even Revenue Levels

396 487

658 673

963

170

331

553 579

927

43%

68%

84% 86%

96%

0%

10%

20%

30%

40%

50%

60%

70%

80%

90%

100%

-

200

400

600

800

1,000

1,200

2010 2011 2012 2013 2014

% D

irect

Shi

pmen

ts

Shi

pmen

ts

Total Asian ShipmentsDirect Asian Shipments% Direct

741 680 624 602 597 597 566

802 799 810 908 933 967 975

1,543 1,479 1,434

1,510 1,530 1,564 1,541

-

200

400

600

800

1,000

1,200

1,400

1,600

1,800

2011 2012 2013 2014 Q115

Q215

Q315

Hea

dcou

nt

Europe/NA Fixed HC Asia Fixed HC

270

235

212 207

-

50

100

150

200

250

300

2011 2012 2013 2014

(€m

illio

ns)

January 2016

Workforce Has Become More Scalable and Flexible

• Headcount varies with cyclicality and seasonality of business

• Significant revenue ramps achieved using primarily Asian production temps

• Aggregate headcount down 3.3% vs. Q2-15 in response to downturn

• European/NA fixed headcount continues to decline• -6.0% from year end 2014

to Q3-15• Asia 63% now

741 680 624 602 597 597 566

802 799

810 908 933 967 975

64 60

24

122 150 120 87

1,6071,539

1,458

1,6321,680 1,684 1,628

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 Q1 2015 Q2 2015 Q3 2015T

emp

% o

f Tot

al

Hea

dcou

nt

Europe/NA Fixed HC Asia Fixed HC

Temporary HC Temp % of Total

33January 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

34

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

January 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%)

35

• Development efforts underway to redesign die attach and packaging systems to increasecommon parts utilized per system

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

January 2016

IV. FINANCIAL REVIEW

36January 2016

Gross Margin

OPEX

Headcount

Effective Tax Rate

10.2% 13.3%

1,649 1,628

€ 23.0 MM

€ 28.7 MM

-1.3%

+3.1 points

+24.8%

45.3% 48.7%

-30.3%

-12.1 points

Q3-14/Q3-15 YTD-14/YTD-15*

+3.4 points

€ 6.3

Gross Margin

OPEX

Headcount

Effective Tax Rate

10.0% 12.6%

1,649 1,628

€ 69.1 MM

€ 86.0 MM

43.8% 48.5%

-1.3%

+2.6 points

+24.5%

+4.7 points

-3.2 points

€ 39.3€ 51.4

Solid Profit and Margin Development In Industry Downturn

€ 21.5

* Includes net restructuring benefit of € 3.3 million

-6.3%

January 2016 37

Mar11

Jun11

Sept11

Dec11

Mar12

Jun12

Sept12

Dec12

Mar13

Jun13

Sept13

Dec13

Mar14

Jun14

Sept14

Dec14

Mar15

Jun15

Sept15

Oct15

Nov15

Total Equipment 0.95 0.94 0.71 0.85 1.12 0.93 0.78 0.92 1.11 1.10 0.97 1.02 1.06 1.10 0.94 0.99 1.10 0.98 1.04 0.98 0.96

Assembly Market 1.01 0.92 0.81 1.02 1.28 1.11 0.53 0.92 1.08 1.26 0.68 1.06 1.25 1.25 0.69 0.84 1.34 0.92 0.72 0.74 1.22

0.95

0.71

1.100.97

0.94

1.10

0.98 0.96

1.01

0.81

1.26

0.68 0.69

1.34

0.74

1.22

0.50

0.75

1.00

1.25

1.50

2011-2015 Quarterly Book to Bill Ratio

Source: Semi November 2015

Assembly Market

Total Semi Equipment

January 2016 38

• Cyclical quarterly revenue/order patterns :• Short term patterns due to customer caution and increased seasonality

• 2014 year end shows higher base line order levels than prior years

• New industry downturn began in Q3-15 due to 2014 capacity build and slowing Chinese growth

• Gross margins have improved despite cyclicality :• Lower unit costs:• Asian production/supply chain transfer• More direct local shipments• Reduction in European personnel

• Increased scalability• Larger production runs• Shorter cycle times• Forex benefits:

• Favorable USD/euro (revenue) and euro/MYR (cost) have helped in 2015

Revenue/Order/Gross Margin Trends

53

70

116

104

8995

104

7272

57

111

124

91

81

104

92

75

40.1%

42.3%43.2%

45.3%

43.8%

49.0%47.9%

48.7%47.0%

48.2%

35.0%

40.0%

45.0%

50.0%

55.0%

60.0%

-

20

40

60

80

100

120

140

Q4-13 Q1-14 Q2-14 Q3-14 Q4-14 Q1-15 Q2-15 Q3-15 Q4-15E*G

ross

Mar

gin

%

euro

in m

illio

ns

Revenue Orders

Gross Margin Adjusted Gross Margin

39January 2016

* Midpoint of guidance: Revenue +/-10% vs. Q3-15, Gross Margin between 46-48%

Net Income Trends

7.0

12.2 14.2

6.3

(2.0)

7.5 3.3

1.4

7.0

22.9 21.5

19.7

17.5

15.5

6.4%

10.0%

19.7%20.8%

13.7%

15.0% 14.8%

8.7%

-5%

0%

5%

10%

15%

20%

25%

30%

35%

40%

(3)

0

3

6

9

12

15

18

21

24

Q4-13 Q1-14 Q2-14 Q3-14 Q4-14 Q1-15 * Q2-15 Q3-15

(eur

o in

mill

ions

)

Non Recurring Net Margin ex. NR Net Margin

40

• € 6.3 million Q3-15 net income• -€ 9.2 million vs. €15.5 million in Q2-15 • -€ 15.2 million vs. Q3-14• Industry downturn negatively influences

comparisons this year

• Q3-15 net margin still a healthy 8.7%• Reflects record gross margins• Baseline opex reducing to more normal levels

post Q2-15 peak

• Tax rate up slightly in 2015 due to absence of Q2-14 tax benefit ($700k)• 12.6% in YTD-15 vs.10.0% in YTD-14 (12.0%

ex. deferred tax benefit)

* Adjusted to exclude:• After tax net restructuring benefit (Q1-15) (€ 3.3 million)• Deferred tax benefits (Q4-14) (€ 7.5 million)• € 2.0 million non recurring charge in Q4-13

January 2016

Liquidity Trends

• Solid liquidity position• € 132.8 million cash at 9/30/15• € 3.49 per share vs. € 13.85 price (as of Sep 30, 2015)

• Net cash increased to € 109.0 million at end of Q3-15

• Has been utilized to enhance shareholder value• € 114.9 million spent on cash dividends and

share repurchases 2011-2015• Includes May € 56.9 million cash dividend• 1.0 million (3%) share repurchase program

initiated at end of Q3-15

• Strong balance sheet helps support future organic growth and acquisition opportunities

41

89.6 91.9 83.8

105.4

135.3

161.6

113.7

132.8

18.6 19.1 21.3 19.3 17.3

28.5 22.3 23.8

71.0 72.8

62.5

86.1

118.0

133.1

91.4

109.0

0

20

40

60

80

100

120

140

160

180

Q4-13 Q1-14 Q2-14 Q3-14 Q4-14 Q1-15 Q2-15 Q3-15

(eur

o in

mill

ions

)

Cash Debt Net Cash

41January 2016

V. OUTLOOK & SUMMARY

42January 2016

43January 2016

Q4-15 Guidance

Revenue

Q3-15 Q4-15

€ 72.1

Gross Margin

Q3-15 Q4-15

48.7%

48%-

46%

Operating Expenses

Q3-15 Q4-15

€ 28.7

Down 3-5%

+10%-

-10%

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

44January 2016