Singulus Technologies : 02-02-2020-Presentation Eigenkapitalforum 2020

SINGULUS TECHNOLOGIES

February 2020

SINGULUS TECHNOLOGIES AG

Agenda

1 Overview

SINGULUS TECHNOLOGIES AG 02-2020 - 2 -

2 SINGULUS TECHNOLOGIES Segments

Solar		Semiconductor		Life Science

3 Financials

SINGULUS TECHNOLOGIES AG

SINGULUS TECHNOLOGIES AG 02-2020 - 3 -

Headquarter

Kahl am Main (Frankfurt)

Production Facility

Fürstenfeldbruck (Munich)

Worldwide Connected, Close to the Markets, Close to the Customer Base

Subsidiaries & Agents Worldwide

Headquarter Production Site

Kahl am Main, Germany Fürstenfeldbruck (Munich), Germany

North America
East & West Coast
	France
		Sausheim	China
					China	Shanghai
					Taiwan
					Guangzhou	Taipeih
	Latin America				Asia Pacific
				Singapore
	Sao Paulo

Legend:

Headquarter

Subsidiaries/Sales & Services

Production Site Fürstenfeldbruck (Munich)

Agents

SINGULUS TECHNOLOGIES AG 02-2020 - 4 -

Energy:

Over 6,000 MW production capacity

Semiconductor: Over 180 systems installed

Medical Technology: Market entry 2017 About 10 systems sold

Consumer Goods: New POLYCOATER & DECOLINE II Over 10 systems sold

Data Storage Over 8,530 systems sold

Process Overview SINGULUS TECHNOLOGIES

SINGULUS TECHNOLOGIES AG 02-2020 - 5 -

THIN FILM

DEPOSITION

SURFACE

ENGINEERING

THERMAL

PROCESSING

WET

CHEMICAL

Thin Film Deposition

• Sputter deposition (DC, RF, MF, Bipolar, pulsed)
• Evaporation (thermal evaporation)
• CVD
• PECVD (ICP, µ-Wave)
• AACVD (aerosol assisted CVD)

SURFACE ENGINEERING

• Embossing, imprint nano lithography
• Injection molding
• Functionalization
• Oxidation
• Plasma cleaning & etching
• Lacquering & bonding

Thermal Processing

• Rapid thermal processing
• Conditioning
• Annealing

Wet Chemical

• Cleaning/washing
• Etching/polishing
• Texturing
• Conditioning
• Chemical bath deposition
• Developing

Development and Market Introduction of New Systems

SINGULUS TECHNOLOGIES AG 02-2020 - 6 -

1996

2009

2010

2011

2012

2013

2014

2015

2016

2017

2018

2019

2020

Linea I	Singular
Silex I

Timaris I

Skyline	Bluline I/Bluline II

Spaceline

	Silex II	LINEX
Solare		GENERIS PVD
		GENERIS PECVD
CIGS Pilot Line	Vistaris 900	Selenius
Cisaris	Tenuis II	Vistaris1600
Vitrum II
	Helioscoater	CISARIS III
	Timaris II	WETBENCH
	Rotaris
	TIMARIS III
	Decoline II	Polycoater 68

Polycoater 90

MEDLINE

Bluline III

Solar

PERC/PERT

HJT

TOPCon

IBC

Thin-film

CdTe

CIGS

Semiconductor

Vacuum Deposition Wet Processing

Life Science

Medical

Technology

Decorative Coating

Optical Disc

SINGULUS TECHNOLOGIES -

New Segment Structure

Solar

	• Crystalline Solar	• Thin film Solar
Solar	_SILEX II	_VITRUM
_LINEX	_VISTARIS
	_GENERIS PVD	_HISTARIS
	_GENERIS PECVD	_SELENIUS
		_CISARIS

Semiconductor

Semi-	•	Vacuum Deposition Systems
	TIMARIS/ROTARIS
conductor
	•	Wet Processing WETBENCH

Life Science

Life	•	3D Coating POLYCOATER
•	3D Production Line DECOLINE II
Science	•	Medical Technology MEDLINE
	•	Optical Coating BLULINE

SINGULUS TECHNOLOGIES AG 02-2020 - 7 -

Agenda

1 Overview

SINGULUS TECHNOLOGIES AG 02-2020 - 8 -

2 SINGULUS TECHNOLOGIES Segments

Solar		Semiconductor		Life Science

3 Financials

PV Learning Curve

Further Decline in PV Selling Price

SINGULUS TECHNOLOGIES AG 02-2020 - 9 -

Source: VDMA/ITRPV Study No. 10, 2019

PV Heading in the Terrawatt Range

54 TW

Solar

22 TW

5 TW

• Rapid introduction oft PV globally is fueled by availability oft cost-competitive, distributed energy
• By 2018, about 500 GW have been installed

SINGULUS TECHNOLOGIES AG

66 TW

Source:Shell/Fraunhofer

PV Production Capacity Forecast

Crystalline & Thin Film

		Annual in GW
200.000
			175.013	186.733
180.000
160.000			152.360
140.000		130.547
120.000
106.468
100.000
80.000
60.000
40.000
20.000
0
2017	2018	2019	2020	2021

SINGULUS TECHNOLOGIES AG 02-2020 - 11 -

Source: IHS 1/2019

PV Production Capacity Forecast

Thin Film

Annual in GW

25.000

20.000

6.757

15.000
4.950	5.670
10.000	4.246
3.189
5.000

0

2017

2018

2019

2020

2021

CIGS

SINGULUS TECHNOLOGIES AG 02-2020 - 12 -

Source: IHS 1/2019

SINGULUS TECHNOLOGIES - Focus on CIGS & High Performance Solar Cells

Crystalline Solar

SINGULUS TECHNOLOGIES AG 02-2020 - 13 -

• High cell & module efficiency
• Easy process
• Advanced technology
• Production split on different locations

CIGS Thin Film

• Excellent stability
• Good low light performance
• Light soaking effect
• Reduced sensitivity to overheating
• Tolerance to shading & low intensity

SINGULUS is focusing on the Key Production Steps for PERC, Heterojunction & TOPCon

SINGULUS TECHNOLOGIES AG 02-2020 - 14 -

Key Production Steps

• Wet Processing
• PVD Sputtering
• PECVD

Production Flow Heterojunction

SINGULUS TECHNOLOGIES AG 02-2020 - 15 -

SDR/Tex		PECVD		PVD		Print

SILEX II

GENERIS PVD

SILEX II Wet Processing System for Heterojunction Solar Cells

SINGULUS TECHNOLOGIES AG 02-2020 - 16 -

Features

• High throughput performance up to 8,000wph
• High uptime up to 95 %
• Low breakage rate down to 0.01 %
• Ozone-enhancedcleaning and etching processes
• Short and stable IPA-free texturing process
• Appropriate and effective rinsing and drying

GENERIS PVD Inline Sputtering System for Heterojunction and TOPCon Solar Cells

SINGULUS TECHNOLOGIES AG 02-2020 - 17 -

Features

• Parallel processing of several substrates
• Low cost of ownership and high uptime
• Top down and bottom up sputtering
• Sputter sequence configurable
• Rotatable cylindrical magnetrons
• Highest utilization of target material

SINGULUS TECHNOLOGIES Provides all Key Production Steps for a CIGS Fab

SINGULUS TECHNOLOGIES AG 02-2020 - 18 -

Precursor

Scribing P1

> Laser

Si barrier layer &

Mo Back

Contact

>Sputtering

Substrate 2

Inspection

1

Automation

Glass Washing

> Wet cleaning

Interconnect and

Encapsulation

>Lamination

Scribing P3

>Mechanical > Laser

> Sputtering	Selen Evaporation

3> Thermal evaporation 4

		Selenization/
		Sulphurization
	5	> CISARIS Oven
CIS/CIGS		6 > Evaporation,

		InS &
		iZnO
		Sputtering
		CdS or. alt. buffer
	6	Deposition
	>Buffer Layer
		Deposition
	Scribing P2
7	>Mechanical
>Laser
Front Contact

>Sputtering

CNBM

Announced Steps of Investment

SINGULUS TECHNOLOGIES AG 02-2020 - 19 -

Each 300 MW Fab	City of Bengbu,	City of Meishan,	City Xuzhou,	City Weihai,
Province Anhui	Province Sichuan	Province Jiangsu	Province Shandong
comprises the following
Machines:

10 CISARIS

2 VISTARIS

1.5 GW 1.5 GW 1.5 GW 1.5 GW

2 SELENIUS

2nd step

LOI

300 MW

	1st step	1st step	st	1st step
Existing LOI	Order	Order	1 step	300 MW
Order
for 300 MW	300 MW	300 MW	150 MW	in
discussion
	Existing LOI	Order for 150 MW signed
	for 5 CISARIS		January 15, 2020

Signing Ceremony for Contract January 15, 2020

SINGULUS TECHNOLOGIES AG 02-2020 - 20 -

Innovative Inline Sputtering Systems for CIGS Thin Film Solar and other Applications

SINGULUS TECHNOLOGIES AG 02-2020 - 21 -

Features

• No carrier return system necessary
• Load and Unload of substrate from the same side
• Usage of rotatable cylindrical magnetrons for highest utilization of target material
• Temperature processing before and during deposition available
• Smallest machine footprint through turn chambe

Agenda

1 Overview

SINGULUS TECHNOLOGIES AG 02-2020 - 22 -

2 SINGULUS TECHNOLOGIES Segments

Solar		Semiconductor		Life Science

3 Financials

ROTARIS Vacuum Deposition System for Advanced R & D and Pilot Production

SINGULUS TECHNOLOGIES AG 02-2020 - 23 -

Features

• Rotating substrate deposition
• 200 mm and 300 mm wafer
• Up to 12 PVD cathodes, target Ø 100 mm
• Co-sputtering& DC/RF sputtering
• Base pressure < 10-8 Torr
• Hot wafer deposition

Wet Processing System for Electronics

SINGULUS TECHNOLOGIES AG 02-2020 - 24 -

Advanced Applications

• Manual Wet Process Stations

• Semi- and Fully Automated

• Quartz Tube- and Parts-Cleaning

• Total Metal Free Working

Agenda

1 Overview

SINGULUS TECHNOLOGIES AG 02-2020 - 25 -

2 SINGULUS TECHNOLOGIES Segments

Solar		Semiconductor		Life Science

3 Financials

Production Systems for Medical Technology

SINGULUS TECHNOLOGIES AG 02-2020 - 26 -

Applications for Medical Technology

• Washing and pre-cleaning
• Cleaning & Etching
• Ultra- or megasonic cleaning
• Surface conditioning & modification
• Vacuum Coating & Electrochemical etching

DECOLINE II 3-Dimensional Coating Further System Sold to Automotive Industry

SINGULUS TECHNOLOGIES AG 02-2020 - 27 -

Advanced Surface Coating

• Brilliant layers on 3-dimensional parts & individual design variety
• UV-curingfor protection lacquer
• Inline spray coating & metallization
• Fully automated processing & high productivity
• Low cost of ownership & environment-friendly

Decorative Coating with POLYCOATER Inline Sputtering System

SINGULUS TECHNOLOGIES AG 02-2020 - 28 -

Advanced Surface Coating

• Several Systems sold
• Brilliant layers on 3-dimensional parts & individual design Inline metallization
• Fully automated processing & high productivity and flexibility
• Low cost of ownership & environment-friendly

Four BLULINE Sold for Data Storage

SINGULUS TECHNOLOGIES AG 02-2020 - 29 -

Agenda

1 Overview

SINGULUS TECHNOLOGIES AG 02-2020 - 30 -

2 SINGULUS TECHNOLOGIES Segments

Solar		Semiconductor		Life Science

3 Financials

Financial Overview 9 Months 2019

SINGULUS TECHNOLOGIES AG 02-2020 - 31 -

	9 Months	9 Months
in million €	2018	2019
Revenues	91.0	61.5
Order Intake	74.6	33.9
Order Backlog (30.09.)	90.3	38.5
EBIT	4.0	0.3
EBITDA	5.7	3.3
Result before Tax	2.4	-1.3
Result for the Period	2.3	-1.9
Operating Cash Flow	13.9	-6.3

Profit & Loss Statement 9 Months 2019

SINGULUS TECHNOLOGIES AG 02-2020 - 32 -

in million €

Gross Revenue

Net Revenue

Gross Profit

(in % of Net Revenues)

OPEX (Total)

• R & D
• Sales & Customer Service
• GM & A
• Other Income/Expenses

9 Months	9 Months
2018	2019
91.0	61.5
89.8	60.5
27.0	19.0
(30.1 %)	(31.4 %)
-23.0	-18.7
-5.3	-4.7
-10.4	-7.6
-7.0	-6.5
-0.3	0.1

EBIT	4.0	0.3
Result for the Period	2.3	-1.9
EPS basic (in €)	0.26	-0.21

Cash Flow Development			SINGULUS TECHNOLOGIES AG
			02-2020 - 33 -
		9 Months	9 Months
	in million €	2018	2019
	Cash Flow from Operating Activities	13.9	-6.3
	Cash Flow from Investing Activities	-3.3	-3.4
	Cash Flow from Financing Activities	-10.4	7.8
	Total Cash Flow	0.2	-1.9
	Cash and Cash Equivalents at the Beginning
	of the Period	27.2	13.5
	Effect of Exchange Rate Changes	0.0	0.2
	Cash and Cash Equivalents at the End of the
	Period	27.4	11.8

Balance Sheet			SINGULUS TECHNOLOGIES AG
			02-2020 - 34 -
	in million €	31.12.2018	30.09.2019
	Cash and Cash Equivalents	13.5	11.8
	Restricted Cash	14.3	7.9
	Total Current Receivables and other Assets	35.5	25.2
	Total Inventories	17.1	18.5
	Total Non-Current Assets	23.7	29.9
	Total Assets	104.1	93.3
	Total Current Liabilities	50.2	37.6
	Total Non-Current Liabilities	34.2	37.4
	Total Equity	19.7	18.3
	Equity and Liabilities	104.1	93.3

Sales Split by Segments			SINGULUS TECHNOLOGIES AG
					02-2020 - 35 -
	9M 2018			9M 2019
	Semiconductor	Life Science		Semiconductor	Life Science
6.8 %	20.5 %		34.1 %
5.4 %

Solar	Solar
60.5 %
72.7 %

Sales Split by Region

SINGULUS TECHNOLOGIES AG 02-2020 - 36 -

9M 2018		9M 2019

Africa & Australia		Africa & Australia
0.8 %		0.3 %
Americas
8.5 %	Americas	Europe
Europe	17.4 %	22.1 %
23.1 %

Asia	Asia
67.6 %	60.2 %

Contact

SINGULUS TECHNOLOGIES AG

SINGULUS TECHNOLOGIES AG

Hanauer Landstrasse 103

D-63796 Kahl/Main

Dr.-Ing. Stefan Rinck, President and CEO

Tel: [phone]

[e-mail]

Markus Ehret, CFO

Tel: [phone]

[e-mail]

Maren Schuster, Head of Investor Relations

Tel: [phone]

[e-mail]

Bernhard Krause, Communications Worldwide

Tel: [phone]

[e-mail]

02-2020 - 37 -

Forward-Looking Statements

This presentation contains forward-looking statements based on current expectations, assumptions and forecasts of the executive board and on currently available information. Various known and unknown risks, unpredictable developments, changes in the economic and political environment and other presently not yet identifiable effects could result in the fact that the actual future results, financial situation or the outlook for the company differ from the estimates given here. We are not obligated to update the forward- looking statements made in this presentation unless there is a legal obligation.