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Tokyo Electron Corporate Update February 9, 2021

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Tokyo Electron Corporate Update February 9, 2021 Tokyo Electron Corporate Update February 9, 2021 CORP IR / 2021.02.09 1 Contents 1. TEL Overview 3 2. TEL Initiatives for Medium-term Business Growth 11 3. Financial Model of Medium-term Management Plan and Growth Investment 18 4. Business Environment and Financial Estimates 22 Appendix 1: Diversity of Semiconductor Technology and TEL’s Business Strategies 28 Appendix 2: Technical Challenges for Application and Effects of EUV Lithography Adoption 34 Appendix 3: Etch System 41 Appendix 4: Deposition System 45 Appendix 5: Cleaning System 51 Appendix 6: TEL’s Strategies toward Digital Transformation 58 Appendix 7: Financial Data 64 CORP IR / 2021.02.09 2 TEL Overview CORP IR / 2021.02.09 3 TEL is Innovative and Flexible to Market Change Established development/ Striving for Distributor of other suppliers’ products Globalization Production reform (Billion Yen) manufacturing functions new growth 1,500 TEL consolidated net sales 1,200 900 600 300 0 65 66 67 68 69 70 71 72 73 74 75 76 77 78 79 80 81 82 83 84 85 86 87 88 89 90 91 92 93 94 95 96 97 98 99 00 01 02 03 04 05 06 07 08 09 10 11 12 13 14 15 16 17 18 19 20 21 (FY) (E) Established first Listed on TSE #2 in1980 and #1 in 1984 Strengthened corporate governance manufacturing JV (TEL-Thermco) Discontinued export business of Began overseas direct operations consumer products Digital consumer Semiconductor Mainframe Mobile electronics, applications computer PC phone etc. CORP IR / 2021.02.09 4 Financial Performance: Sales and Operating Margin (Billion Yen) 1,500 50% TEL Net sales 1,360.0 1,278.2 Operating income 1,200 1,130.7 40% Operating margin 1,127.2 906.0 900 30% 799.724.9% 723.8 24.3% 668.7 663.9 22.5% 18.6% 19.5% 16.7% 612.1613.1 600 14.6% 497.2 20% 14.4% 21.0% 17.6% 300 5.3% 10% 2.5% 0 0% -0.5% -4.4% -300 -10% 90 91 92 93 94 95 96 97 98 99 00 01 02 03 04 05 06 07 08 09 10 11 12 13 14 15 16 17 18 19 20 21 (FY) (E) 4M DRAM oversupply • Financial crisis in Asia • IT bubble crash • World financial crisis • Effects of European debt crisis, • 64M DRAM oversupply • Excessive logic foundry • Memory oversupply slowdown in emerging markets investment • Weak demand for PC, mobile CORP IR / 2021.02.09 5 The Market TEL Participates in CY2019 World Market FY2020 TEL Sales (April 2019 - March 2020) Others FPD Production ¥0.1B, Equipment ¥66.0B, 0% Electronic System US$ 1,992B (FPD) 6% Semiconductor US$ 419B ¥1,127.2B ¥1,060.9B, Semiconductor WFE* CAPEX US$ 55B 94% Production Equipment (SPE) Source: Gartner, “Forecast: Semiconductor Wafer Fab Equipment, Worldwide, 4Q20 Update”, Bob Johnson, Gaurav Gupta, 22 December 2020 Charts/graphics created by Tokyo Electron based on Gartner research. Electronic System＝Electronic Equipment Production/Semiconductor＝Semiconductor Revenue /WFE* CAPEX＝Total Wafer Fab Equipment Revenue Basis. CORP IR / 2021.02.09 6 TEL Main Products World Market Share (CY2019) Semiconductor Production Equipment 28% 37% 27% 40% 91% Coater/Developer Dry Etch System Deposition System Cleaning System Wafer Prober* FPD Production Equipment (FY2020) 28% 40% 53% 21% 65% ALD CVD Oxidation/Diffusion Source SPE (excluding Wafer Prober) : Gartner, “Market Share: Semiconductor Wafer Fab Equipment, Worldwide, 2019”, Bob Johnson, FPD Coater/Developer FPD Etcher/Asher Gaurav Gupta, 14 April 2020 Graph/chart created by TEL based on Gartner research. Coater/Developer: Photoresist processing (Track), Dry Etch: Dry etch, Deposition: Tube CVD + Atomic layer deposition tools + Source (FPD) : TEL survey Oxidation/Diffusion Furnaces + Nontube LPCVD, ALD: Atomic layer deposition tools, CVD: Tube CVD + Nontube LPCVD, Oxidation/Diffusion: Oxidation/diffusion Furnaces , Cleaning: Single Wafer Processors + Wet stations +Batch Spray processors + Other clean Equipment CORP IR / 2021.02.09 * SPE (Wafer Prober) : VLSI Research, Preliminary, May 2020 Charts/graphics created by Tokyo Electron based on VLSI Research 7 CY2019 SPE Makers Top 15 CY2019 Sales (Billions of US$) 1 Applied Materials 13.46 2 ASML 12.76 3 Tokyo Electron 9.55 4 Lam Research 9.54 5 KLA 4.66 6 Advantest 2.46 7 SCREEN Semiconductor Solutions 2.20 8 Teradyne 1.55 9 Hitachi High-Technologies 1.53 10 ASMI 1.26 11 Kokusai 1.13 12 Daifuku 1.10 13 Nikon 1.10 14 ASM Pacific 0.89 15 Canon 0.69 Source：VLSI Research, May 2020 CORP IR / 2021.02.09 8 * Presentations – IR Day announced on January 20, 2021 Environmental Medium-term Targets for 2030 CO2 emissions reduction targets Products Facilities 30% reduction 70% reduction per wafer (vs. 2018) of total emissions (vs. 2018) Reduce energy consumption at Note: Of the total CO2 emissions from TEL’s value chain, Toward 100% approx. 87% are generated during product use each facility by 1% per year (per-unit basis, annual target, YoY) renewable energy use As a leading corporation in environmental management, Tokyo Electron works actively to conserve the global Long-term goal environment. We strive to contribute to the development of a dream-inspiring society by proactively promoting (2050) the reduction of the environmental burden of both our products and facilities, and at the same time, providing evolutionary manufacturing technologies that effectively reduce the power consumption of electronic products. Support the development of a sustainable society through proactive initiatives for environmental issues CORP IR / 2021.02.09 9 External assessments toward our activities TEL is included on several ESG-related indices TEL ESG programs have received very positive reviews CORP IR / 2021.02.09 10 TEL Initiatives for Medium-term Business Growth CORP IR / 2021.02.09 11 Rising Added-value in SPE WFE investment (100k WSPM*, greenfield/TEL estimates) DRAM 3D NAND Logic ~$20B ~$8B ~$7B 2Z 1X 1Y 1Z 4X 6/7X 9X 12X 14/16nm 10nm 7nm 5nm Expanding business opportunities for SPE manufacturers on arrival of new applications and rising level of technological difficulty CORP IR / 2021.02.09 * WSPM: Wafer starts per month 12 * Presentations - Medium-term Management Plan announced on May 28, 2019 Etch System Growth Scenario Focus on processes with growing SAM and aim to 20.0 Sales targets by process type within 3500 19.0 TEL’s SAM for etch systems* capture a high SAM share 18.0 * TEL forecasts. SAM shown on a dollar basis and sales on a yen basis 17.0 3000 . HARC process 16.0 15.0 – Increase sales by growing 3D NAND and DRAM SAM 14.0 2500 13.0 and capturing new PORs 12.0 2000 11.0 . Patterning process 10.0 9.0 1500 – Expand SAM share by offering production cost 8.0 7.0 reductions 6.0 1000 5.0 . Interconnect/contact process 4.0 3.0 500 – Maintain high market share with growing SAM and by 2.0 differentiating technology 1.0 0.0 0 CY'17 CY'18 CY'19 CY'20 CY'21 CY'22 . Gas chemical etch process SAM (in dollars) HARC Patterning – Increase sales by creating new markets Interconnect/contact Gas chemical etch Aim for 30-35% SAM share by CY2023 CORP IR / 2021.02.09 13 * Presentations - Medium-term Management Plan announced on May 28, 2019 Deposition System Growth Scenario 5.0 Sales targets by application within 160000 . Expand business by choosing the most TEL’s SAM for deposition systems* appropriate method among batch, semi-batch 140000 * TEL forecasts. SAM shown on a dollar basis and sales on a yen basis and single wafer, and providing high value- 4.0 120000 added technologies 100000 . In deposition technologies, which are becoming 3.0 increasingly advanced, accelerate development 80000 of new materials and new deposition method by 2.0 60000 leveraging our strengths. Aim for further growth – Deposition of new metal material to achieve lower 40000 1.0 resistance 20000 – New deposition methods to promote scaling, such as anisotropic deposition and selective deposition 0.0 0 CY'17 CY'18 CY'19 CY'20 CY'21 CY'22 – Pre-treatment technology to realize better electric SAM (in dollars) DRAM NAND Logic/Foundry Others characteristics Deposition System: Tube CVD + Atomic layer deposition tools + Oxidation/diffusion furnaces + Nontube LPCVD Focus on high value-added deposition processes, aim for 40%+ SAM share by CY2023 CORP IR / 2021.02.09 14 * Presentations - Medium-term Management Plan announced on May 28, 2019 Cleaning System Growth Scenario Sales targets by system type within 5.0 TEL’s SAM for cleaning systems* 150% . Single wafer cleaning * TEL forecasts. SAM shown on a dollar basis and sales on a yen basis 130% – Grow sales with pattern collapse reduction 4.0 SAM share 110% technology and by improving productivity 25% 90% – Maintain a high market share for bevel wet etch 3.0 and expand applications through removal of new 70% materials 2.0 50% . Batch cleaning 30% – Expand POR in 3D NAND critical processes 1.0 10% . Scrubber cleaning – SAM will grow as importance of back/bevel 0.0 -10% CY'17 CY'18 CY'19 CY'20 CY'21 CY'22 processing increases due to introduction of EUV SAM (in dollars) Single wafer cleaning Batch cleaning Scrubber Aim for 30% SAM share by CY2023 CORP IR / 2021.02.09 15 FPD Manufacturing Equipment Growth Scenario Sales and operating margin (Billion yen) 120 35% . Raise competitiveness of dry etch 30% 100 system and coater/developer 25% 80 20% . Create inkjet market for large OLED 15% 60 displays 10% 40 5% . Launch new products that reflect 0% 20 -5% evolution of displays 0 -10% FY'15 FY'16 FY'17 FY'18 FY'19 FY'20 FY'21 FY'22 FY'23 Sales Operating margin Aim for 30% operating margin by CY2023 CORP IR / 2021.02.09 16 Field Solutions (FS) Sales Results and Growth Strategy FS sales Growth strategy key points 380.0B yen .
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