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ABOUT VALUE CREATION GOVERNANCE FINANCIAL STATEMENTS NON-FINANCIAL SUMMARY GENERAL INFORMATION 1 NOTES TO THE READER PDF/PRINTED VERSION This document is the PDF/printed version of ASM International N.V.’s 2020 Annual Report and has been prepared for ease of use. The 2020 Annual Report in European Single Electronic Reporting format (the ESEF reporting package) is the official version. The ESEF reporting package is available on the company’s website. In any case of discrepancies between this PDF version and the ESEF reporting package, the latter prevails. UNROUNDED FIGURES Amounts in the Annual Report may not add up due to rounding differences. The total amounts may therefore deviate from the sum of the parts. Percentage changes are based on the unrounded figures. ABOUT VALUE CREATION GOVERNANCE FINANCIAL STATEMENTS NON-FINANCIAL SUMMARY GENERAL INFORMATION 2 IN A YEAR UNDERSCORED BY COVID-19, ASMI Our focus on the health and safety of our people has always been DELIVERED A STRONG FINANCIAL PERFORMANCE our key priority. The commitment and focus of our employees in challenging operating conditions created by COVID-19 enabled AND MADE IMPORTANT PROGRESS IN MANY us to continue serving our customers in the best possible ways. STRATEGIC AREAS. Demand remained strong as our customers continued to invest in the most advanced technologies that will shape tomorrow’s advances in trends such as 5G, cloud computing, and autonomous driving. ASMI delivered its fourth consecutive year of double-digit revenue growth. We further strengthened our position as we significantly expanded our R&D engagements. Looking ahead, we will continue to invest in the potential of our company. ABOUT VALUE CREATION GOVERNANCE FINANCIAL STATEMENTS NON-FINANCIAL SUMMARY GENERAL INFORMATION 3 TABLE OF CONTENTS ABOUT 4 FINANCIAL STATEMENTS 99 MESSAGE FROM THE CEO 5 CONSOLIDATED FINANCIAL STATEMENTS 100 ASMI AT A GLANCE 9 Consolidated statement of profit or loss 100 STRATEGY 15 Consolidated statement of comprehensive income 101 KEY PERFORMANCE 19 Consolidated statement of financial position 102 Consolidated statement of changes in equity 103 Consolidated statement of cash flows 104 VALUE CREATION 21 Notes to the consolidated financial statements 105 Long-term value creation 22 ASM INTERNATIONAL N.V. FINANCIAL STATEMENTS 147 Customers and products 24 Company balance sheet 147 Employees 32 Company statement of profit or loss 148 Shareholders 39 Notes to the company financial statements 149 Society and planet 51 Suppliers 56 INDEPENDENT AUDITOR’S REPORT 155 Interview with the CFO 62 GOVERNANCE 65 NON-FINANCIAL SUMMARY 162 Corporate governance 66 Environmental footprint results 2016 to 2020 163 CSR governance 69 Non-financial performance summary 164 Risk management 74 Management Board 80 Supervisory Board 82 Supervisory Board report 87 Remuneration report 90 External auditor 97 GENERAL INFORMATION 166 Declarations 98 Product description 167 Other information 169 ESG/CSR data glossary and information 171 Definitions and abbreviations 174 Locations worldwide 176 Safe harbor statement 178 About ABOUT VALUE CREATION GOVERNANCE FINANCIAL STATEMENTS NON-FINANCIAL SUMMARY GENERAL INFORMATION 4 ABOUT In a year underscored by the COVID-19 pandemic, in which we Message from the CEO 5 prioritized the health and safety of our employees, their families, ASMI at a glance 9 and our stakeholders, we also continued to help our customers Strategy 15 focus on building faster, cheaper, and increasingly powerful chips. Key performance 19 PROPELLING DEMAND Our R&D investment in new materials, new products, and new processes means we can help our customers develop their technology roadmap and further extend Moore’s Law. STRONG RESULTS In 2020, we continued to further enhance our leading platforms and to grow the pipeline of new ALD applications, which represented more than half of our equipment revenue. Our spares & services business also delivered an outstanding performance, with a double-digit revenue increase compared to 2019. Together with our equipment business of our product lines, this contributed to a highly successful year, which included: › Revenue of €1,328 million; › Bookings of €1,314 million; › Operating result of €327 million; and › Free cash flow of €119 million. Message from the CEO Message from the CEO ABOUT VALUE CREATION GOVERNANCE FINANCIAL STATEMENTS NON-FINANCIAL SUMMARY GENERAL INFORMATION 5 MESSAGE FROM THE CEO Benjamin Loh President and Chief Executive Officer In a year underscored by COVID-19, our first priority was the safety of our employees, while we continued to serve our customers in the best possible ways. ASMI again delivered strong financial results and achieved progress in key strategic areas. “ OUR KEY PRIORITY IS THE HEALTH AND SAFETY OF OUR EMPLOYEES.” INTRODUCTION 2020 was an unprecedented year as the COVID-19 pandemic severely affected our lives, our communities, and world economies. The health and safety of our employees, their families, and of the employees working for our customers and other business partners has always been our key priority. From the onset of the pandemic, we implemented all necessary measures, government guidelines and industry best practices to minimize the risks for our people and partners. Measures included working from home for our employees wherever possible, implementation of split-shift work in essential areas, enhanced cleaning protocols, and of course, restriction of non-essential travel. During the year, demand for our products remained strong as our customers continued to invest in advanced node capacity and in new technology development. I am impressed by the way ASMI’s employees, while putting the health of all of us first, showed their commitment and creativity to make sure we continue to serve our customers in the best possible ways, such as the use of smart technologies to work remotely on our customers’ tools. I want to thank all our employees for their great commitment and teamwork during this unprecedented year. ABOUT VALUE CREATION GOVERNANCE FINANCIAL STATEMENTS NON-FINANCIAL SUMMARY GENERAL INFORMATION 6 For me personally, it has also been a challenging time, having assumed the role of CEO in mid-May, In terms of product lines, revenue was led by very strong double-digit growth in our ALD business, in the midst of the pandemic. Though it was difficult, I have been able to adapt to an entirely new which continued to represent more than half of our equipment revenue in 2020. After strong way of working, meeting many ASMI colleagues remotely and also having most of my first customer increases in previous years, momentum in our combined other products – epitaxy, PECVD and interactions remotely. As vaccinations start to happen worldwide, I am cautiously optimistic that vertical furnaces – slowed down in 2020. This is explained by the relatively higher exposure of these the pandemic will be under control sometime this year and I look forward to being able to meet product lines to the analog/power markets, which were in turn impacted by the weakness in the our colleagues, shareholders, and partners in person. automotive and industrial markets earlier in 2020. Recently, demand in analog/power has shown the first signs of recovery. MARKET DEVELOPMENT In 2020, our spares & services business delivered an outstanding performance, increasing revenue As markets were upended by the impact of lockdown measures and border closures, the global by 29%. To a smaller extent, this growth was driven by customers increasing inventories in response economy showed a sharp drop in 2020. Certain parts of the semiconductor market, such as the to the COVID-19-related supply chain challenges, especially in the second quarter of the year. For automotive and industrial end markets, were negatively affected, but the overall semiconductor the most part, we benefited from the solid increase in our installed base in recent years as well as the market showed a resilient performance. Key drivers were investments in for instance PCs, data first contribution from our investments in new outcome-based services. Spares & services accounted centers and communications infrastructure to support demand related to work-from-home and for 21% of total revenue in 2020. remote learning. In the broader society, the pandemic accelerated the trend of digitalization. We are proud to be part of an industry that contributed to the key technologies that have helped people “ A STRONG AREA OF GROWTH THIS YEAR stay connected with family and friends during these periods of lockdown, schools continuing online lessons, and businesses maintaining operations. HAS BEEN THE CHINESE MARKET.” The semiconductor market finished the year with a robust growth of 7%. The wafer fab equipment CHINA (WFE) market grew at mid-to-high teens percentage year-on-year. Our customers continued to invest A strong area of growth this year has been the Chinese market, for the broader WFE market and in leading edge manufacturing capacity. Logic/foundry demand showed a solid increase, driven by for ASMI. Our sales in China grew strongly in 2020 and contributed for the first time a double-digit spending on the most advanced nodes of 10nm and below. While the outlook for the memory market percentage of our total revenue. We benefited from the investments we made in recent years to was initially impacted by weakness and inventory corrections in parts of the end markets, equipment strengthen our position in this market. In addition, the portion spent by domestic chip manufacturers spending showed a healthy increase for the full year. on the more advanced nodes, albeit still the smaller part of total spending in China, showed a strong increase in 2020, playing to the strengths of our company. Despite the uncertainty related to new LOGIC/FOUNDRY AGAIN THE KEY DRIVER IN 2020 US export restrictions, our sales in China remained solid throughout the year. More importantly, we Our revenue increased by 18% in 2020, the fourth consecutive year of double-digit growth. The further broadened our customer base of domestic Chinese customers and booked new tool wins logic/foundry sector continued to be the key driver for us in 2020.

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