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We Enable Our Customers Process Advantage Dave Jarzynka President Brooks Semiconductor Solutions Group
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Page 1: We Enable Our Customers Process Advantage · Advanced Packaging Vacuum Robots Vacuum Systems Advanced Packaging Vacuum Robots Vacuum Systems FOUP Clean EUV POD Clean ... packaging

We Enable Our Customers Process Advantage

Dave JarzynkaPresident Brooks Semiconductor Solutions Group

Page 2: We Enable Our Customers Process Advantage · Advanced Packaging Vacuum Robots Vacuum Systems Advanced Packaging Vacuum Robots Vacuum Systems FOUP Clean EUV POD Clean ... packaging

© 2019 Brooks Automation, Inc. • Proprietary Information

A D I F F E R E N T K I N D O F S E M I C O N D U C T O R B U S I N E S S :

Brooks Growth Exceeding Semi Market

36

Brooks Semi unique business model continues to

deliver growth in an investment pause

-20%

5%

17%

2019

WFE Market

Revenue Growth

(YTD)

Operating Income*

Growth (YTD)

© 2019 Brooks Automation, Inc. • Confidential and Proprietary Information

Market Data Source: Gartner 2018

* Non-GAAP financial measures – see reconciliation tables.

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© 2019 Brooks Automation, Inc. • Proprietary Information

A G E N D A

A Different Kind of Semi Business

37

Unique semiconductor model

The business today

Future growth drivers

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© 2019 Brooks Automation, Inc. • Proprietary Information

Revenue Breakdown (LTM)

Semiconductor Solutions at a Glance

* 2016-2018 comparison

38

Diversified business with leadership positions

$450M

Key Metrics (LTM)

16%

8045

35

>375

Revenue

Growth (CAGR*)

Growth design winsAutomation

CCS

Engineering based patents

Service

Contamination

Control

• FOUP Clean

• Reticle Storage

Systems

&

Robots

10%

24%66%

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© 2019 Brooks Automation, Inc. • Proprietary Information

What We Do – Enabling Our Customer’s Process Advantage

39

VacuumAutomation

ContaminationControl Carriers

#1

Contamination Control Reticle Storage

Advanced Packaging Wafer Transport

#1

#1

#1Trusted Global

ServicePlatform

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© 2019 Brooks Automation, Inc. • Proprietary Information

What We Do – Enabling Our Customer’s Process Advantage

40

VacuumAutomation

ContaminationControl Carriers

#1

Contamination Control Reticle Storage

Advanced Packaging Wafer Transport

#1

#1

#1Trusted Global

ServicePlatform

Since 2018

• CCS grows share in EUV, Memory, Inspection and Reticle Storage

• Vacuum Automation accelerates share gains and value with leaders and Tier 2 OEMs

• Advanced Packaging grows share in emerging applications of bonding and plasma dicing

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© 2019 Brooks Automation, Inc. • Proprietary Information

$326

$379

$435 $450

2016 2017 2018 LTM

37%39%

41% 42%

2016 2017 2018 LTM

$20

$43

$63

$71

2016 2017 2018 LTM

Strong Track Record of Top Line Growth and Margin Expansion

41* Non-GAAP financial measures – see reconciliation tables.

Revenue Operating Income*Gross Margin*

Strong income flow-through on top line growth

16%CAGR

+4 pts78%CAGR

$M

6% 14%11% 16%

Note: LTM financial data as of June 30,2019

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© 2019 Brooks Automation, Inc. • Proprietary Information

A G E N D A

A Different Kind of Semi Business

42

Unique semiconductor model

The business today

Future growth drivers

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© 2019 Brooks Automation, Inc. • Proprietary Information

Unique Semiconductor Model

43

1

The Right

Segments

3

The Right

Customers

2

The Right

Product Mix

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© 2019 Brooks Automation, Inc. • Proprietary Information

FY16 FY17 FY18 LTM

1 . T H E R I G H T S E G M E N T S

Transformed Portfolio to High Growth Segments

More than 65% of revenue from growth segments

$326M

44

~11% CAGR

>65%growing at

~17%CAGR

• Global service

• Factory automation

Stable Leadership

• Advanced packaging

• Contamination control

• Vacuum automation

Growth Markets

$379M

$435M $450M

Note: LTM financial data as of June 30,2019

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© 2019 Brooks Automation, Inc. • Proprietary Information

2 . T H E R I G H T P R O D U C T S

Balanced Portfolio with High Value Offerings

45Note: Based on LTM revenue of $450M

17%

7%48%

18% 10%

Robots Service

FOUP Clean

Reticle Storage

The majority of our revenue is within higher value solutions

Automation

Systems

Contamination Control

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© 2019 Brooks Automation, Inc. • Proprietary Information

$0

$10

$20

$30

$40

$50

$60

$70

T H E R I G H T P R O D U C T S – A C L O S E R L O O K

New Technology Nodes Drives New Valued Products Increasing Brooks Content at Fabs

46

Advanced Packaging

Vacuum Robots

Vacuum Systems

Advanced Packaging

Vacuum Robots

Vacuum Systems

FOUP Clean

EUV POD Clean

Reticle Storage

• Share gains with differentiated value

• Tier 2 OEM growth at leading fabs

• Significant TAM growth

• Expansion into new products

• GM* improvement: 34% to 41% from

2014 to 2018

5XContent Increase

>28nm <10nm

$M

* Non-GAAP financial measures – see reconciliation tables.

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© 2019 Brooks Automation, Inc. • Proprietary Information

Device Manufacturers

~30%*Equipment Manufacturers

~70%*

2019 Revenue

3 . T H E R I G H T C U S T O M E R S

Leading Customers in High-Growth Segments

47

Contamination Control Advanced PackagingVacuum Automation

100%

* Based on management’s internal estimates

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© 2019 Brooks Automation, Inc. • Proprietary Information

A G E N D A

A Different Kind of Semi Business

48

Unique semiconductor model

The business today

Future growth drivers

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© 2019 Brooks Automation, Inc. • Proprietary Information

High Growth Markets Require Technology Enablersthat will Nearly Double Brooks TAM

49

HighPerformance Computing

ProgrammableGate Array

AdvancedMemory

SEMI

DEVICES

200mmDevices

Data

CentersBlock

Chain

IoTAutonomous

VehiclesMARKET

APPLICATIONS

5G

Growth market opportunity growing 1.7X*

TECHNOLOGY

GROWTH

DRIVERS

EUV reticle solutions

< 10nm Carrier clean

Vacuum automation

Advanced packaging

* Market size based on management’s internal estimates.

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© 2019 Brooks Automation, Inc. • Proprietary Information

Three Key Growth Drivers

1

2

3

Contamination Control

Vacuum Automation

Advanced Packaging

50

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© 2019 Brooks Automation, Inc. • Proprietary Information

G R O W T H D R I V E R # 1

Contamination Control – Continuing Strong Growth

51

Strong Revenue

Growth• Expanding value with FOUP Inspection Metrology

• Only qualified tool for EUV Pod Clean

• Memory share gains moving towards growth

• Reticle storage share accelerating

• Expanding share with wafer makers

Focus

19%CAGR

$44M

$74M

2015 2018

~$130M

~$265M

2018 2022

Available Market

High Growth

* Based on management’s internal estimates

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© 2019 Brooks Automation, Inc. • Proprietary Information

CCS

CCS-RS

G R O W T H D R I V E R # 1

CCS Delivers Clear Advantages – Case Study

52

Customer

• Leading foundry/logic investing in new technology nodes

• Memory, analog and wafer manufacturers

Need:

• Yield improvement due to contamination and defects on the carriers

Solution:

• Proprietary carrier clean and advanced reticle storage

Results:

• Immediate and continuous yield improvement

Results

5

30

2014 2016 2018 2020

Tools Needed with 30K Wafer Starts per Month

5nm requires more than 2x FOUP cleaners than 20nm

CCS doubles customer base as it expands intoMemory, Analog and wafer manufacturers

2014 2015 2016 2017 2018 2019

Customers

CCS growth fueled by the need for more FOUP clean on leading process nodes and expansion into more customer segments

40

81

6X

2X

Situation

Foundry FOUP Cleaning*

* Based on management’s internal estimates.

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© 2019 Brooks Automation, Inc. • Proprietary Information

G R O W T H D R I V E R # 2

Vacuum Automation – Large, Steadily Growing Business

53

• Large OEMs outsourcing robot automation

• 15 wins at <10nm for MagnaTran® LEAP™

• Tier 2 OEMs in Korea and China systems expanding with device makers

• 200mm applications expanding toward growth

Focus

$106M

$160M

2015 2018

15%CAGR

Steady Revenue

Growth

~$270M

~$400M

2018 2022

Available Market

High Growth*

* Based on management’s internal estimates.

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© 2019 Brooks Automation, Inc. • Proprietary Information

G R O W T H D R I V E R # 3

Advanced Packaging – Rapidly Expanding

54

Focus

• Share in over 14 applications

• Device makers invest more inAdvanced Packaging

• 5G driving more unique packages

• Atmospheric and vacuum productsolutions growth

$28M

$56M

2015 2018

26%CAGR

Strong Revenue

Growth

~$105M

~$185M

2018 2022

Available Market

High Growth*

* Based on management’s internal estimates.

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© 2019 Brooks Automation, Inc. • Proprietary Information

Semiconductor Solutions – Investments and Leverage

55

LEAN Operational Foundation

Operations

• Scalable model with internal and outsourced capabilities

Engineering

• Leverage investments in new product development with high value products

Sales and support

• Infrastructure in place to support growth

The Results

$435

$580-680

2018 2022

$63

$115-150

2018 2022

Solid drop-through on incremental revenue:35-40% of operating income per $1M of revenue

Revenue($M)

8-12%CAGR

Operating Income*($M)

* Non-GAAP financial measures – see reconciliation tables.

~2X Profit $

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© 2019 Brooks Automation, Inc. • Proprietary Information

2022 Target Model – Semiconductor Solutions

56

Semi FY18 FY22Growth / Change

Revenue $435M$580M-

680M

8-12%

CAGR

Gross

Margin*41% 42-44% +1-3 pts

Operating

Margin*14% 20-22% +6-8 pts

Unique

business model

Continued

growth

Strong platform

& record wins

Margin

expansion

• Growth markets and

customers with right value

and product mix

• High growth track record and

~10% growth to 2022

• Building on strong platform

and winning more design

wins than ever before

• Growth and operating

leverage drives continued

profit margin expansion

Drivers Target Model

* Non-GAAP financial measures – see reconciliation tables.

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© 2019 Brooks Automation, Inc. • Proprietary Information

I N S U M M A R Y

A Different Kind of Semi Business

• Portfolio transformed with >65% of business in growth segments

• Consistently outperforming the Semi equipment market

• Going forward, steady revenue growth and margin expansion expected to drive 20-22% operating margins by 2022

57


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