ACM Research, Inc. March 2026 Investor Presentation 1 DISCLOSURES Forward-looking Statements. Certain statements contained in this presentation are not historical facts and may be forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Words such as "plans," "expects," "believes," "anticipates," "designed," and similar words are intended to identify forward-looking statements. Forward-looking statements are based on ACM Research management's current expectation ...

Core Viewpoint - ACM Research, Inc. reported strong financial performance for the fiscal year 2025, achieving record annual revenue of $901 million, a 15% increase year over year, and outlined optimistic revenue guidance for 2026, projecting growth of 21-30% [2][3]. Financial Performance - For the full year 2025, revenue reached $901.3 million, up from $782.1 million in 2024, reflecting a growth of 15.2% [4][5]. - Gross margin for 2025 was 44.4%, down from 50.1% in 2024, while non-GAAP gross margin was 44.5% compared to 50.4% [4][5]. - Operating income decreased to $109.4 million, down 27.5% from $151.0 million in 2024, resulting in an operating margin of 12.1% [4][5]. - Net income attributable to ACM Research, Inc. was $94.1 million, compared to $103.6 million in 2024, with diluted EPS of $1.37 versus $1.53 [4][5]. Fourth Quarter Highlights - In Q4 2025, revenue was $244.4 million, a 9.4% increase from $223.5 million in Q4 2024 [12][21]. - Gross margin for Q4 was 40.9%, down from 49.6% in the same quarter of the previous year [12][21]. - Operating income for Q4 was $23.0 million, a decrease of 47.6% compared to $44.0 million in Q4 2024 [12][21]. Outlook - The company maintains its revenue guidance for 2026 at $1.08 billion to $1.175 billion, anticipating contributions from new products and continued momentum in advanced packaging [3][4]. - ACM is accelerating investments in Oregon, with operations expected to begin in the second half of 2026 to support global market expansion [2][3]. Recent Developments - ACM delivered its first horizontal panel electroplating tool and advanced lithography systems to leading customers, marking significant advancements in product offerings [7]. - The company secured multiple orders for advanced packaging equipment from global customers, indicating strong demand in the semiconductor market [7]. - ACM completed a private offering of ordinary shares in ACM Shanghai, raising approximately $111 million, which contributed to a net cash position of $845 million at year-end 2025 [2][4].

Core Insights - ACM Research, Inc. has delivered its first Ultra Lith Baker system to a leading global display panel manufacturer, addressing challenges in advanced lithography such as process non-uniformity and critical dimension variation [1][3] - The Ultra Lith BK system features industry-leading UV curing uniformity of ±5% and advanced thermal management to enhance yield and process reliability [2][4] Company Overview - ACM Research develops and manufactures semiconductor process equipment, including solutions for cleaning, electroplating, and wafer-level packaging, aimed at improving productivity and product yield for semiconductor manufacturers [6][7] - The Ultra Lith BK integrates six cold plates for temperature uniformity of ±0.1°C and supports a configurable design with up to 32 hotplates, allowing flexibility in process recipes [4][6] Industry Context - The introduction of the Ultra Lith BK marks ACM's entry into the display panel segment, which has high-volume production capabilities and significant expectations for equipment performance [3] - As device geometries shrink, maintaining uniform process control in lithography is essential for consistent yield and device performance, highlighting the importance of innovations like the Ultra Lith BK [3]