FD-SOI – Specialty SOI

Fiscal H1’20 results

November 2019 Disclaimer

This document was prepared by Soitec (the “Company”) on November 27th, 2019 in connection with the announcement of the first half of fiscal year 2019-2020 (“FY’20”) results. This document is provided for information purposes only. It is public information only. The Company’s business operations and financial position is described in the Company’s registration document 2018-2019 registered by the Autorité des marchés financiers (the “AMF”) on July 4th, 2019 under visa D.19-0649 (the “Document de Référence”) and in the Company’s FY’20 half-year report. Copies of the Document de Référence are available in French and English languages through the Company and may as well be consulted on the AMF’s website (www.amf-france.org). The Document de Référence and the FY’20 half-year report can also be downloaded on the Company’s website (www.soitec.com). Your attention is drawn to the risk factors described in Chapter 2 of the Document de Référence. A review of these risk factors has been conducted after the closing of FY’20 first half and no new risk was found. This document contains summary information and should be read in conjunction with the Document de Référence and the FY’20 half-year report. In the event of a discrepancy between this document and the Document de Référence or the FY’20 half-year report, the Document de Référence or, as the case may be, the FY’20 half-year report, shall prevail. The information contained in this document has not been independently verified. No representation, warranty or undertaking, express or implied, is made as to, and you may not rely on, the fairness, accuracy, completeness or correctness of the information and opinions contained in this document. The information contained in this document is provided only as of the date hereof. Neither the Company, nor its shareholders or any of their respective subsidiaries, advisors or representatives, accept any responsibility or liability whatsoever for any loss arising from the use of this document or its contents or in connection whatsoever with this document. This document contains certain forward-looking statements. These forward-looking statements relate to the Company’s future prospects, developments and strategy and are based on analyses of earnings forecasts and estimates of amounts not yet determinable. By their nature, forward-looking statements are subject to a variety of risks and uncertainties as they relate to future events and are dependent on circumstances that may or may not materialize in the future. Forward-looking statements are not a guarantee of the Company’s future performance. The Company’s actual financial position, results and cash flows, as well as the trends in the sector in which the Company operates may differ materially from those contained in this document. Furthermore, even if the Company’s financial position, results, cash-flows and the developments in the sector in which the Company operates were to conform to the forward- looking statements contained in this document, such elements cannot be construed as a reliable indication of the Company’s future results or developments. The Company does not undertake any obligation to update or make any correction to any forward-looking statement in order to reflect an event or circumstance that may occur after the date of this document. In addition, the occurrence of any of the risks described in Chapter 2 of the Document de Référence may have an impact on these forward-looking statements. This document does not constitute or form part of an offer or a solicitation to purchase, subscribe for, or sell the Company’s securities in any country whatsoever. This document, or any part thereof, shall not form the basis of, or be relied upon in connection with, any contract, commitment or investment decision. Notably, this document does not constitute an offer or solicitation to purchase, subscribe for, or sell securities in the United States. Securities may not be offered or sold in the United States absent registration or an exemption from the registration under the U.S. Securities Act of 1933, as amended (the “Securities Act”). The Company’s shares have not been and will not be registered under the Securities Act. Neither the Company nor any other person intends to conduct a public offering of the Company’s securities in the United States.

Nov. 2019 2 H1FY20 results Soitec Proprietary Copyright @ 2019 Soitec Agenda

1 H1’20 Business highlights

2 H1’20 Financials

3 FY’20 Guidance

4 Soitec company profile – Additional information

Nov. 2019 3 H1FY20 results Soitec Proprietary Copyright @ 2019 Soitec Agenda

1 H1’20 Business highlights

2 H1’20 Financials

3 FY’20 Guidance

4 Soitec company profile – Additional information

Nov. 2019 4 H1FY20 results Soitec Proprietary Copyright @ 2019 Soitec Fiscal H1’20 Business highlights

SOI products portfolio Beyond SOI – POI & GaN Compound semiconductors RF-SOI – FD-SOI – Specialty SOI

200mm wafer sales at 121 M€ (+15% y/y) Piezo-on-insulator (POI) Silicon Carbide . Growth supported by higher volumes . Decision to add POI substrates . Joint-development program with and more favorable product mix (RF- capacity (150-mm) to meet Applied Materials on next SOI, Power-SOI) increasing demand for 4G/5G SAW generation SiC substrates to . Higher outsourcing activities with filters customers address surging demand for electric Chinese partner Simgui (RF-SOI) . Production in Bernin III fab to start vehicles, telecommunication and in calendar Q1’20 industrial applications 300mm wafer sales at 125 M€ (+50% y/y) . Pilot line at CEA-Leti (France) to . Strong growth driven by RF-SOI from EpiGaN acquisition (May 2019) start in calendar H1’20 tier-1 fabless & foundries . Gallium Nitride (GaN) epiwafers to . Sample production to start in . Ongoing adoption of FD-SOI serve RF 5G and power electronics calendar H2’20 (automotive, wearables, smart home) . Completed full integration . Higher sales of Photonics-SOI (Cloud) InGaNOS (microLEDs) . Ongoing R&D activities Overall SOI capacity deployment . Bernin I & II running at full capacity . Singapore capacity ramp along with refresh and epitaxy activities

Nov. 2019 5 H1FY20 results Soitec Proprietary Copyright @ 2019 Soitec Agenda

1 H1’20 Business highlights

2 H1’20 Financials

3 FY’20 Guidance

4 Soitec company profile – Additional information

Nov. 2019 6 H1FY20 results Soitec Proprietary Copyright @ 2019 Soitec H1’20 highlights – Solid financial performance

Sharp revenue growth Strong increase in gross profit

+30% at constant exchange rates and perimeter +32% in €m 258 in €m

187 87 66

H1'19 H1'20 H1'19 H1'20

Further increase in current operating income Strong increase in net profit

+23% +28% in €m in €m 51 42 41.5 32.6

H1'19 H1'20 H1'19 H1'20

The income and expenses related to discontinued operations are directly reported as “Net result from discontinued operations”. Down to the line “Net result after tax from continuing operations”, the Group consolidated P&L account exclusively and fully reflects the Electronics activities as well as corporate expenses. Nov. 2019 7 H1FY20 results Soitec Proprietary Copyright @ 2019 Soitec H1’20: revenue breakdown

In €m Change vs H1’19 H1’20 H1’19 % at H1’20 sales breakdown % constant FX and scope 200mm wafer sales 121.4 102.0 +19% +15% 5% 200mm 300mm wafer sales 125.3 80.6 +56% +50% 47% Royalties and other 300mm 11.7 4.3 +174% +20% revenues 48% Royalties and others Total sales 248.5 186.9 +38% +30%

200mm wafer sales up 15% (at constant 300mm wafer sales up 50% (at constant Royalties and other revenues up 174% exchange rates and perimeter) exchange rates and perimeter) • 20% growth at constant exchange rates • Solid growth in RF-SOI • Much higher volumes driven by surge and perimeter • Sustained demand for Power-SOI in RF-SOI 300 mm • Contribution from Frec|n|sys, Dolphin • Higher volumes thanks to production • Further adoption of FD-SOI technology Design and EpiGaN reached €8.8m in outsourced to Simgui • Sustained level of Photonics-SOI sales H1’20

Nov. 2019 8 H1FY20 results Soitec Proprietary Copyright @ 2019 Soitec H1’20 gross margin slightly down, as anticipated

Gross margin 35.4% 33.8% as % of sales 32.4%

28.6% Strong operating leverage

24.9% . Bernin I (200mm) running at full capacity 125.3 . Bernin II (300mm) utilization rate close to full capacity at the end of H1’20 Favorable forex impact Sales 80.6 in €m Impact of capacity increase 44.9 . Higher outsourced production (Simgui, 200-mm) 22.5 22.0 . Higher depreciation costs

121.4 . Ramp-up costs of Singapore facility 102.0 83.8 87.4 93.9 Higher bulk material prices

H1'16 H1'17 H1'18 H1'19 H1'20

200mm wafer sales 300mm wafer sales

Nov. 2019 9 H1FY20 results Soitec Proprietary Copyright @ 2019 Soitec Further increase in current operating income

In €m H1’20 H1’19 Change

Sales 258.5 186.9 +38%

Gross profit 87.4 66.1 +32% Net R&D expenses sharply up: As a % of sales 33.8% 35.4% . Increase in gross R&D expenses largely due to Gross R&D expenses (30.8) (24.0) +28% the integration of Dolphin Design and EpiGaN Prototype sales and others 4.1 5.6 -27% . Higher subsidies partially offset by lower Subsidies and income tax credit 10.7 10.1 +6% Net R&D expenses (16.0) (8.3) +93% research tax credits As a % of sales 6.2% 4.4% Lower SG&A / sales ratio despite: Sales & Marketing expenses (4.9) (4.2) +15% . Increased expenses due to higher activity and General and administrative expenses (15.3) (12.0) +28% integration of Dolphin Design and EpiGaN Total SG&A expenses (20.2) (16.2) +24% As a % of sales 7.8% 8.7% . Increase in charges related to employee compensation schemes Current operating income 51.3 41.6 +23% As a % of sales 19.9% 22.2%

The income and expenses related to discontinued operations are directly reported as “Net result from discontinued operations”. Down to the line “Net result after tax from continuing operations”, the Group consolidated P&L account exclusively and fully reflects the Electronics activities as well as corporate expenses. Nov. 2019 10 H1FY20 results Soitec Proprietary Copyright @ 2019 Soitec Net profit sharply up

In €m H1’20 H1’19

Current operating income 51.3 41.6 H1’20 other operating income includes a gain on the disposal of an industrial site no longer in use Other operating income and expenses 1.8 (0.0) H1’20 net financial loss mainly includes: Operating income 53.2 41.6 . The full impact of non cash financial Net financial income/(expense) (1.7) (0.4) interests related to OCEANEs 2023 issued in June 2018 Income tax (9.9) (5.2) . A foreign exchange gain of €2.1m

Net profit from continuing operations 41.6 35.9 H1’20 loss from discontinued operations reduced to nearly zero Net profit / (loss) from discontinued (0.0) (3.3) operations H1’20 net profit sharply up (+28%)

Net profit (Group share) 41.5 32.6

The income and expenses related to discontinued operations are directly reported as “Net result from discontinued operations”. Down to the line “Net result after tax from continuing operations”, the Group consolidated P&L account exclusively and fully reflects the Electronics activities as well as corporate expenses. Nov. 2019 11 H1FY20 results Soitec Proprietary Copyright @ 2019 Soitec Significant increase in EBITDA of the continuing operations (Electronics)

EBITDA as % of sales 32.8% Half-year EBITDA increased more than 4x 30.2% compared to H1’17 24.4% H1’20 EBITDA up 27% vs. H1’19 16.5% 13.8% H1’20 EBITDA margin slightly down vs. H1’19, as anticipated 78.1 €m 61.4 H1’20 EBITDA in line with FY’20 EBITDA margin guidance 34.9 15.0 18.5

H1'16 H1'17 H1'18 H1'19 H1'20

Nov. 2019 12 H1FY20 results Soitec Proprietary Copyright @ 2019 Soitec Strong increase in operating cash-flow

Continuing operations operating cash-flows Increase in D&A mainly results from continuous investments In €m H1’20 H1’19 Other items include: . Income on asset disposals Net profit 41.6 35.9 . Income tax Depreciation and amortization . Financial loss 19.4 10.6 . Share-based payments Other items . Other non-cash items (provisions) 17.1 15.0 EBITDA 78.1 61.4 Increase in WCR due to: . Higher level of activity Change in working capital (41.8) (53.5) . €47.2m increase in inventories reflecting anticipated H2’20 deliveries . Despite €20.8m decrease in trade Net cash generated by / (used in) 36.2 8.1 receivables operating activites Strong increase in cash generated by operating activities

Nov. 2019 13 H1FY20 results Soitec Proprietary Copyright @ 2019 Soitec Decrease in cash position reflects high level of capex and EpiGaN acquisition

Net change in cash = -€58.2m +36.2

in €m

175.3 (50.0) Cash position 175.3 (25.5) Generated cash 120,8(15.3) 120,0(0.8) (3.0) Used cash

117.1

Cash and cash Net cash Net cash used in Acquisition of Loan repayment Net cash used Net impact of Cash and cash equivalents generated by investing in EpiGaN (net of and other by discontinued Forex equivalents at 31 March 2019 continuing continuing cash) financing activities fluctuations at 30 Sept. 2019 activities activities activities

Nov. 2019 14 H1FY20 results Soitec Proprietary Copyright @ 2019 Soitec A sound balance sheet

30 Sept. 31 March 30 Sept. 31 March In €m In €m 2019 2019 2019 2019

Intangible assets 75.1 38.5 Tangible assets 287.4 253.6 Non-current financial assets 11.8 11.0 Total equity 452.3 398.3 Other non current assets 24.0 44.3 Long-term financial debt 195.7 199.2 Provisions and other non-current Deferred tax assets 24.6 25.6 30.4 21.4 liabilities Total non-current assets 422.9 373.0 Total non-current liabilities 226.1 220.6 Current assets 307.8 257.5 Current liabilities 156.9 174.8 Cash and cash equivalents 117.1 175.3 Short-term financial debt 23.6 22.6 Total current assets 424.9 432.8 Total current liabilities 180.5 197.4 Liabilities from discontinued Assets held for sale and discontinued 16.3 16.7 5.0 6.2 operations Total assets 864.0 822.5 Total liabilities and equity 864.0 822.5

Nov. 2019 15 H1FY20 results Soitec Proprietary Copyright @ 2019 Soitec A solid financial structure

Shareholders’ equity Gross debt €m €m Equity reinforced by €54m: . Mainly thanks to retained 452 398 222 219 H1’20 earnings

Gross debt decreased by €3m: . €10m decrease in drawings 31 March 19 30 Sept. 19 31 March 19 30 Sept. 19 on credit lines . New leasing contracts Cash and cash equivalents Net debt . €3m put option granted to €m €m the minority shareholders of EpiGaN

175 Decrease in cash position reflects: 102 117 . Cash used to finance capex and EpiGaN acquisition 47 Net debt / Equity ratio: 22.6% 31 March 19 30 Sept. 19 31 March 19 30 Sept. 19

Nov. 2019 16 H1FY20 results Soitec Proprietary Copyright @ 2019 Soitec Agenda

1 H1’20 Business highlights

2 H1’20 Financials

3 FY’20 Guidance

4 Soitec company profile – Additional information

Nov. 2019 17 H1FY20 results Soitec Proprietary Copyright @ 2019 Soitec FY’20 guidance (2019/2020 fiscal year)

. Soitec confirms expecting FY’20 sales to grow by around 30% at constant exchange rates and perimeter

. Soitec confirms expecting and Electronics EBITDA margin to reach around 30%

. Soitec now expects FY’20 capital expenditure to reach around 110 M€ (vs. 130 M€ previously indicated)

Nov. 2019 18 H1FY20 results Soitec Proprietary Copyright @ 2019 Soitec Agenda

1 H1’20 Business highlights

2 H1’20 Financials

3 FY’20 Guidance

4 Soitec company profile – Additional information

Nov. 2019 19 H1FY20 results Soitec Proprietary Copyright @ 2019 Soitec Soitec and its markets

Nov. 2019 20 H1FY20 results Soitec Proprietary Copyright @ 2019 Soitec Soitec – Who we are

DESIGNER & MANUFACTURER OF INNOVATIVE SEMICONDUCTOR MATERIALS

Employees Worldwide 1,450 GLOBAL PRESENCE OUR MISSION High-growth Markets 4 SMARTPHONES, AUTOMOTIVE, CLOUD & INFRASTRUCTURE, IOT To be recognized as a Unique Technologies Core expertise leader in innovative SMART CUT, SMART STACKING Epitaxy, Compound semiconductors semiconductor 2 standards for products Wafer fabs “ 300-mm – France (Bernin II) + Singapore* shaping the future 200-mm – France (Bernin I) + China (via Simgui) 6 150 mm – France (Bernin III) 150 – 200-mm GaN Epitaxial wafers – Belgium (EpiGaN) ” CAPABILITY Largest manufacturer of engineered substrates 1 LEADER Nov. 2019 21 H1FY20 results Soitec Proprietary Copyright @ 2019 Soitec *Production site now qualified by several customers Soitec at a glance

2019 Acquisition of EpiGaN for 5G RF, power electronics, and sensor applications 2015-16 Reinforce core 2018 1991 1999 2008 semiconductor First 300-mm wafers Bernin I Singapore being shipped to Smart Cut ™ 2014 business 2017 1992 Fab 2002 Fab & Return to profitability RF-SOI/ FD-SOI Invention Manufacturing Back to profitable customers Soitec 100/200-mm Bernin II 300-mm Partner in China Results from Singapore foundation Fab – 200-mm 300-mm Long-term supply agreement signed with GF

〉 Revenue: €444m in 2018-2019 〉 Worldwide leader in engineered substrates

〉 Stock Exchange: Euronext since 1999 〉 Capacity: 〉 Employees: 1,450 worldwide, +20 nationalities 150-mm – Planned capacity: 400K wafers/y. 200-mm – Up to 1.3M wafers/y. 〉 Patent portfolio: >3,500 300-mm – 0,9M wafers/y.

〉 R&D spending: 12% of annual revenue 〉 Business model: wafers manufacturing + licensing

Nov. 2019 22 H1FY20 results Soitec Proprietary Copyright @ 2019 Soitec A unique competitive position in the value chain

TRANSISTOR

SMART CUT TM SMART Stacking TM

TECHNOLOGY PROCESSED WAFER

COMPOUND EPITAXY

EXPERTISE DIE CHIP BOARD

BULK ENGINEERED SUBSTRATES WAFERS

Nov. 2019 23 H1FY20 results Soitec Proprietary Copyright @ 2019 Soitec Our pillars to build a unique competitive position

AGILE MANUFACTURING Make or Buy

INNOVATION PLATFORMS

PRODUCT LICENSING

Nov. 2019 24 H1FY20 results Soitec Proprietary Copyright @ 2019 Soitec A global multi-site industrial footprint

Total 300-mm capacity Total 200-mm capacity Total 150-mm capacity Bernin 2 Bernin 1 → 0.9 M wafers/y. → 1 .3 M wafers/y. Bernin 3 → potential of 0.4M Pasir Ris Simgui by FY’20 by FY’20 wafers/y

GAN epitaxial wafer RF-SOI Photonics Power -SOI -SOI

EpiGaN Hasselt, Belgium Soitec Bernin 1, France - HVM 950K wafers/y. capacity

Power-SOI RF-SOI Imager Photonics RF-SOI FD-SOI -SOI -SOI

Simgui, China - HVM Soitec Bernin 2, France – HVM 180K wafers/y. capacity going to 360K wafers/y. 650K wafers/y. capacity with plan to extend to 1M

Other SOI RF-SOI FD-SOI Products POI

Pasir Ris, Singapore - HVM Soitec Bernin 3, France –Ready HVM Planned capacity: 1M wafers/y. 15K wafers/y. capacity with plan to extend to 400K Nov. 2019 25 H1FY20 results Soitec Proprietary Copyright @ 2019 Soitec A broad product portfolio of engineered substrates

PROCESSOR & RF CONNECTIVITY FRONT-END PIEZO-ON- SOC MODULE POWER PHOTONICS IMAGERS INSULATOR GaN

FD-SOI RF-SOI Power-SOI Photonics-SOI Imager-SOI POI GaN For power-efficient For highly efficient For high voltage For high perf. For improved For high For radio frequency integration of digital/ mobile device integration photonics device imager performance 5G (RF) 5G and power analog/RF communication integration into performance in NIR filters systems silicon

Silicon-On-Insulator products Piezo & compound products

Nov. 2019 26 H1FY20 results Soitec Proprietary Copyright @ 2019 Soitec 4 key markets & three mega-trends driving semi. growth

5G ENERGY EFFICIENCY

Nov. 2019 27 H1FY20 results Soitec Proprietary Copyright @ 2019 Soitec The engineered substrates market is growing into a multi-billion $ market

ELECTRONIC DEVICES SEMICONDUCTOR CHIPS

ADAS/EV Application processors ENGINEERED 4G/5G SUBSTRATES RF chips SOI AloT

GaN SiC AIoT Healthcare

InGaNOS POI Sensors Industry 4.0

InP Si epitaxy Photonics Cloud

Imaging AR/VR

Nov. 2019 28 H1FY20 results Soitec Proprietary Copyright @ 2019 Soitec Today’s engineered substrate content in 4 strategic end-markets

RF-SOI

FD-SOI FD-SOI

POI

IMAGER-SOI RF-SOI

POWER-SOI

SMARTPHONES IoT Internet of Things

PHOTONICS-SOI FD-SOI

AUTOMOTIVE CLOUD & INFRASTRUCTURE

Nov. 2019 29 H1FY20 results Soitec Proprietary Copyright @ 2019 Soitec Expected content growth across markets and applications

New market Displays segments RF-SOI

FD-SOI FD-SOI GaN RF

POI POWER-SOI IMAGER-SOI RF-SOI Power-SOI

Displays POWER-SOI RF-SOI RF-SOI SMARTPHONES Sensors IoT FD-SOI Internet of Things GaN RF

SiC for EV GaN Power GaN Power PHOTONICS-SOI FD-SOI

AUTOMOTIVE CLOUD & INFRASTRUCTURE

Nov. 2019 30 H1FY20 results Soitec Proprietary Copyright @ 2019 Soitec Soitec technologies content

From SOI ( 2017) To multi-technologies (2022)

120 120 20mm2 30mm2 16mm2 Smartphones mm2 mm2

RF-SOI RF-SOI FD-SOI Spec SOI POI

140 300 1600 100 18mm2 130mm2 Automotive mm2 mm2 mm2 mm2

Power-SOI Power-SOI FD-SOI RF-SOI GaN/SIC InGaNOS Power

< 10 IoT 2 mm 150 4mm2 350 mm2 mm2 FD-SOI FD-SOI RF-SOI InGaNOS

Cloud & 80mm2 1500 4G/5G 110 15000 2 220 100 mm 2 2 infrastructure mm2 mm2 mm mm Photonics-SOI Photonics-SOI FD-SOI RF-SOI GaN RF GaN/SiC Power Nov. 2019 31 H1FY20 results Soitec Proprietary Copyright @ 2019 Soitec Expansion of our leadership in multiple markets

FY24 SAM* New products: New opportunities: ~1.6-2.4 Billion $ > 500 M$ SAM* in FY24 >1 Billion $ SAM* 4G/5G – Auto – IoT – Cloud 5G – Auto – Sensors Displays – Auto – Imaging…

SOI products portfolio Beyond SOI – POI & GaN Compounds semi.

Specialty SOI EpiGaN InGaNOS, FD-SOI Piezo-on- SiC,… Insulator RF-SOI

CAGR ~15-25% between FY19-24 * Source: Soitec market estimates in FY24

Nov. 2019 32 H1FY20 results Soitec Proprietary Copyright @ 2019 Soitec Profitable growth with many opportunities

SOI products SAM (M wafers eq. 300 mm) New products SAM (M wafers eq.150 mm) + 20% to +30% CAGR between FY19 and FY24 >1M wafers in FY24

More opportunities to size 1,4 5,0 with SiC & InGaNOS

1,2 4,0 1,0

3,0 0,8

0,6 2,0 0,4 1,0 0,2

0,0 0,0 FY19 FY24 FY24 FY19 FY24 Low case High case

RF-SOI (300mm eq.) FD-SOI (300mm eq.) Specialty SOI (300mm eq.) Filters (in 150mm eq.) EpiGaN (in 150mm eq.)

Nov. 2019 33 H1FY20 results Soitec Proprietary Copyright @ 2019 Soitec A solid growth path

C r e a t i n g a standard for t h e m o b i l e i n d u s t r y

FOCUS ON CORE BUSINESS PROFITABLE GROWTH ESTABLISH CREDIBILITY

2015/ 2018/ 2021/

S a l e s S a l e s S a l e s S a l e s ~ € 9 0 0 m * € 2 3 3 m € 4 4 4 m ~ € 1 , 4 B n * EBITDA margin 34,3% EBITDA margin ~31%

Nov. 2019 34 H1FY20 results Soitec Proprietary Copyright @ 2019 Soitec *outlook based on €/$ at 1.13 New substrate technologies

Improved processes

ENGINEERED SUBSTRATES Anything on anything

SMART CUT TM SMART Stacking TM

New materials New structures

Device Layer: Silicon, Strained Silicon, Germanium, III-V…

Buried Insulator: SiO2, ONO…

Handle Substrate: CZ Silicon, High-resistivity Si, Sapphire, Glass

EPITAXY New COMPOUND SEMI. segments

Nov. 2019 35 H1FY20 results Soitec Proprietary Copyright @ 2019 Soitec Revolutionary Smart Cut™ – a mature technology

o Industrial manufacturability of SOI – high yield o Re-use of donor wafer increases cost efficiency TECHNOLOGY o Drastical improvement of uniformity & quality o Flexibility of material integration

Active layer

Functional/insulator layer

Base wafer = mechanical support Silicon or easy to handle & active

Nov. 2019 36 H1FY20 results Soitec Proprietary Copyright @ 2019 Soitec Product portfolio: tailored to meet market growth

RF Power Processor & Photonics Imagers Piezo-on-insulator GaN Front-End Module connectivity SoC RF-SOI Power-SOI FD-SOI Photonics-SOI Imager-SOI POI GaN For highly efficient mobile For high voltage device integration High Reliable - Power-efficient - To integrate high performance For improved imager performance New engineered substrates for For radio frequency (RF) 5G and communication Digital computing with easy photonics devices into silicon in NIR filters power systems

analog/RF integration Production

µcontroller – processors – radar Cellular – Wifi – V2X IVN – audio – gate Driver 77GHz Today in data center Today in smartphones Ramp in 2019 in smartphones Ramp in 2020 for 5G NR

µLED MEMS SiC Power Back-end integration

InGaNOS Cavity-SOI Compounds, etc… Compounds, etc… Bright low power LED - RGB High performance sensors High performance devices High performance devices

InGaN SiC

Mono-crystal Top Silicon R&D Buried Oxide

Sapphire Base Silicon with cavities Handle substrates

Display – AR/VR Ultrasonic - sensors EV - industrial System-in-package

Nov. 2019 37 H1FY20 results Soitec Proprietary Copyright @ 2019 Soitec A complete product portfolio for handsets & base station communication

Antenna Antenna LNA Filter

5G Switch Tuner

TRANSCEIVER TRANSCEIVER

< 6GHz mmW < 6GHz mmW

5G HANDSET ARCHITECTURE RF- SOI

FD- * SOI

POI

PA: Power Amplifier GaN LNA: Low Noise Amplifier

Nov. 2019 38 H1FY20 results Soitec Proprietary Copyright @ 2019 Soitec Expanding our leadership in engineered substrates

Developing our ecosystems OEMs Understanding problems all along the value chain

Fabless

Foundries

Design

Engineered Specialty Compound RF-SOI FD-SOI POI substrates SOI semi.

Bulk Silicon substrates epitaxy

Nov. 2019 39 H1FY20 results Soitec Proprietary Copyright @ 2019 Soitec Trends & markets

Nov. 2019 40 H1FY20 results Soitec Proprietary Copyright @ 2019 Soitec AI is about transforming data into meaningful information

AI Everywhere Key drivers AI Computing trend

Classification Cloud computing

Object detection Edge computing

Speech detection

On-Device AI

Data analysis

Nov. 2019 41 H1FY20 results Soitec Proprietary Copyright @ 2019 Soitec Smartphones

4G fueling current growth FD-SOI value proposition 3D image sensors for facial Beginning of 5G deployment recognized for several critical recognition and AR/VR. applications High res displays

Imager-SOI & Compound for face facing 3D sensor Image signal Facial recognition processors 4G 5G Artificial InGaNOS for MicroLED RF-SOI intelligence of functional display for RF FEM system-on-chips FD-SOI for display FD-SOI driver IC for 5G mmW Free form-factor display Transceivers mmW short POI distance for RF Filters communication Imager-SOI & Compound for GaN world facing 3D sensor for 5G PA

Position & object recognition

Nov. 2019 42 H1FY20 results Soitec Proprietary Copyright @ 2019 Soitec Automotive

GaN, SiC and Power-SOI FD-SOI to ramp for ADAS Engineered substrates for high to benefit from structural semi and infotainment application sensitive sensor and bright content increase processors display

Power- FD-SOI for ASICs SOI/GaN Imager/Photonics- of radars/Lidar/Camera for gate drivers SOI for Lidar sensor FD-SOI for MCU’s for various functions Power-SOI for Class D audio amplifiers FD-SOI for AI chips of image FD-SOI for Radar classification & sensor FEM Power-SOI voice recognition for in-vehicle networking

SiC, GaN FD-SOI for MicroLED using for On-Board Multimedia InGaNOS for In-vehicle Chargers application display processors

Nov. 2019 43 H1FY20 results Soitec Proprietary Copyright @ 2019 Soitec IoT

FD-SOI offers low power Together with 5G, FD-SOI FD-SOI offers the best value operation for industrial & InGaNOS enable AR/VR/MR proposition for edge- AI & consumer applications applications computing

FD-SOI for ASICs of AR/VR/MR FD-SOI will now Speed address those performance areas GPS for Ear buds smartwatches InGaNOS for Cloud MicroLED display of AR/VR & Smartwatch Edge Smarthome Drones On Device speakers

FD-SOI for IoT Power (MCU+Memory consumption Security Smart +RF) cameras meters

Nov. 2019 44 H1FY20 results Soitec Proprietary Copyright @ 2019 Soitec Cloud & 4G/5G infrastructure

Photonics-SOI for high data rate RF-SOI, FD-SOI, GaN, SiC for 5G FD-SOI, Photonics-SOI, GaN for and low latency for 4G/5G base base station & data center hyper scale & secure computing station & data center Photonics-SOI for quantum Photonics-SOI GaN, SiC for data computing for optical center power transceiver supplier of hyper of data center computing FD-SOI for high efficient hyper computing of data GaN for power amplifier center, crypto-currency of 5G basesation mining Photonics-SOI for optical FD-SOI for transceiver of 5G RF-SOI and FD-SOI for broadband infrastructure 5G basesation communications in Low Earth Orbit (LEO) satellites

Nov. 2019 45 H1FY20 results Soitec Proprietary Copyright @ 2019 Soitec Soitec products

Nov. 2019 47 H1FY20 results Soitec Proprietary Copyright @ 2019 Soitec RF-SOI: an industry standard for Front-End Module (FEM)

Product description Value proposition 200 mm

〉 RF-SOI is present in 100% of

300 smartphones mm 〉 RF-SOI is a standard for RF FEM components (antenna tuners, A solid product roadmap to cover all RF FEM components switches, LNAs, PAs)

-100dBm RFeSI100T 〉 RF-SOI is a unique platform for FEM integration -90dBm RFeSI90

-80dBm RFeSI80 〉 RF-SOI provides inherent isolation and signal integrity for LTE and 5G -70dBm iFEM-SOI 〉 Best in class performance per cost mmW-RF-SOI

-60dBm HR-SOI

Nov. 2019 48 H1FY20 results Soitec Proprietary Copyright @ 2019 Soitec Soitec leveraging RF ecosystem

Foundries RF IC / FEM manufacturers Chipset makers Phone makers

Switch Antenna Tuner PA Filter > 12 SOI Foundries

Infrastructure

Nov. 2019 50 H1FY20 results Soitec Proprietary Copyright @ 2019 Soitec Soitec FD-SOI: Versatile platform to connect the unconnected

Early adopters Customer requirements FD-SOI success factors

Nodes RF eMRAM

Wide bandwidth Reduced components 28nm 5G Networks Integration 18nm RF / Digital integration Seamless packaging

22nm 12nm Reliability Thick RF metal Automotive Size High-voltage integration Planar Beyond 28nm 28nm

Manufacturability Large volume (300mm) Mobile Manufacturing 65nm Low (energy) leakage Fewer mask layers

Performance computing Less (digital) errors Edge AI Robustness reconfigurability Error (Body-Bias) tuning

Cost efficiency AI-Aware Design IoT Opportunities Battery efficiency All-in-One platform Sol’n

Nov. 2019 51 H1FY20 results Soitec Proprietary Copyright @ 2019 Soitec FD-SOI: best trade-off to integrate Digital/Analog/RF …

Techno Smartphones Automotive IoT AI Networks capability

Key features

Core logic scalability

Energy efficiency

RF transceivers <6GHz

NRE/Cost

High voltage

RF transceivers mmW

High performance analog Integration Platform Integration

Efficient RF CMOS amplifier

Robustness

Nov. 2019 52 H1FY20 results Soitec Proprietary Copyright @ 2019 Soitec FD-SOI body bias: leveraging substrate architecture to enable transistor performance on-demand

- Dolphin Design providing IP solution to fabless to master power management

- FD-SOI body biasing deployed as main pillar

Nov. 2019 53 H1FY20 results Soitec Proprietary Copyright @ 2019 Soitec Specialty-SOI

Nov. 2019 54 H1FY20 results Soitec Proprietary Copyright @ 2019 Soitec Specialty-SOI products

POWER PHOTONICS MEMS IMAGERS

Power-SOI Photonics-SOI MEMS-SOI Imager-SOI For high voltage For high perf. For advanced sensing For improved device integration photonics device imager integration into performance in silicon NIR

Nov. 2019 55 H1FY20 results Soitec Proprietary Copyright @ 2019 Soitec Specialty-SOI: Power-SOI

Product Value proposition Growth drivers & outlook description Power-SOI footprint expected to rise further in HIGH RELIABILITY automotive 〉 In-Vehicule Networking 〉 Infotainment 200 PERFORMANCE mm 〉 Excellent electrical isolation 〉 Power train 〉 Higher temperature operation 〉 Multiple voltage domain integration (digital/analog/high voltage) 〉 Ease of design for IC protection

300 COST mm 〉 Smaller die size

Automotive Industrial Consumer ~140 mm2 of Power SOI content in car in 2024

Power-SOI SAM in FY24 ~900 k wafers (200 mm eq.)

Nov. 2019 56 H1FY20 results Soitec Proprietary Copyright @ 2019 Soitec Specialty-SOI: Photonics-SOI

Product Value proposition Ecosystem & TAM description Integration platform for complex optical function using CMOS fab Silicon photonics growth drivers: 〉 Data center traffic High speed modulation compliant 〉 Optical transceivers for data rate >= 100G/s 200 mm 〉 Optical chip-to-chip interconnect Low loss wave guide 〉 Quantum computing

Scalable solution for: 〉 Integration 〉 Performance 300 〉 Cost mm

High- performance Datacenters 5G Computing

Photonics-SOI SAM in FY24 ~100 k wafers (300 mm)

Nov. 2019 57 H1FY20 results Soitec Proprietary Copyright @ 2019 Soitec Piezo-electric-on-Insulator (POI)

Nov. 2019 58 H1FY20 results Soitec Proprietary Copyright @ 2019 Soitec Piezo-On-Insulator to enable new generation of filters

Product Growth drivers description & market outlook

Among all RF devices, filters will: 〉 grow the fastest with ~15-20% CAGR till 2022 〉 account for ~60% of the overall RF component market

20 POI: 15 Thin piezo layer on oxyde on high resistivity silicon 10 5 0 Filter PA LNA Switch Antenna mmW Tuner FEM USD billion 2018 2022E

Enable manufacturing of high performance surface acoustic wave (SAW) filters Source: Yole, Bernstein estimates and analysis

Nov. 2019 59 H1FY20 results Soitec Proprietary Copyright @ 2019 Soitec Piezo-On-Insulator enabling new generation of filters

Value proposition Filters competitive environment

Soitec value SOITEC SAW TC SAW BAW Requirements Impact proposal POI

High quality factor High frequencies High quality factor Data rates up Larger bandwidth High temperature stability High to 20Gb/s Band density temperature Low loss filters stability Battery life Low less filters

High = frequencies

Up to 100 filters Component density Filter integration Efficient same per smartphones Power dissipation Better thermal conductivity die = = integration

Cost =

Design acceleration with Quick product design Several product qualifications Fast ramp frec|n|sys High volume to volume Dedicated fab for POI ongoing manufacturing HVM demonstrated on RF-SOI POI SAM in FY24 ~1 Million wafers (150 mm)

Nov. 2019 61 H1FY20 results Soitec Proprietary Copyright @ 2019 Soitec External growth strategy: expand core business May, 2019 - Soitec acquires EpiGaN to accelerate engineered substrates penetration in booming 5G and Power markets

EpiGaN at a glance

• Start-up founded in 2010 as a spin-off from IMEC • Widely recognized for its strong expertise in GaN for several years • Technology ready and optimized for 5G broadband network applications

Strategic rationale

• Creation of a unique and comprehensive offering for 5G • Similar market and RF customer base • Expansion of Soitec’s product portfolio beyond silicon (SOI) into Gallium Nitride (GaN) technology

Outlook

• EpiGaN is now integrated as one of Soitec’s business units • Focus on 5G application initially

Nov. 2019 62 H1FY20 results Soitec Proprietary Copyright @ 2019 Soitec GaN epi wafers: leading technology for 5G

Market outlook

EpiGaN SAM in FY24 ~300 k wafers (150mm eq.)

〉 Cellular base stations (>5W power amplifier) Future opportunities on power automotive & sensors GaN - becoming mainstream for 4G / 5G <6Ghz and mmW

〉 Cellular handset (<3W Power amplifier) GaAs – Mainstream technology for 4G / 5G <6Ghz GaN – advantage for 5G mmW

Nov. 2019 64 H1FY20 results Soitec Proprietary Copyright @ 2019 Soitec InGaNOS – A new approach with engineered substrates for a huge display market

Technology Value proposition Wafer volume projection InGaNOS TAM in FY24 >4 Million wafers (150 mm) Proven technology for 〉 Better red efficiency at InGaN red LEDs micrometer-scale than phosphide

〉 Same InGaN material for blue, green and red LEDs

〉 Technology scalable to 200 mm

50x50 µm² red microLED fabricated on Soitec substrate

Nov. 2019 65 H1FY20 results Soitec Proprietary Copyright @ 2019 Soitec Silicon-Carbide (SiC)

Nov. 2019 66 H1FY20 results Soitec Proprietary Copyright @ 2019 Soitec Exponential growth in high voltage power applications

High growth applications SiC and GaN (CAGR – ’17~’25) Power semiconductor forecast

Source: IHS Markit’18

Nov. 2019 67 H1FY20 results Soitec Proprietary Copyright @ 2019 Soitec Electrical vehicle - First mass market for SiC

SiC vs. Silicon Performance improvement and size reduction in inverter Positioning of SiC and GaN in xEV EV Charger

Source: Yole - PowerSiC’17

From Si-IGBT based module to SiC MOSFET based module: Potential of SiC to - miniaturization: 30% replace Silicon - weight Reduction: 40% in xEV - high power density: >1.5times

Extra 60 miles of cruising range! Source: Rohm - BodoPowerSystems’17 Source: Rohm

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