Comet : Annual Report 2021 (pdf)

Led by experience. Driven by curiosity.

Solving for what's next.

Comet Holding AG Annual Report 2021

As a leading technology company in the plasma control and x-ray space, we are part of the digital transformation. In all our markets, this megatrend is powering sustained growth. Focused and flexibly positioned, we want to take advantage of this driving force and grow more quickly than the market in a sustainable way. Our strong underpinnings for this are our experience and our highly skilled employees, the confidence of our customers and our sound capital base.

Comet Holding AG

Table of Contents

3

Contents

Statement of the Chairman and the CEO

04 Comet surpasses expectations in a challenging year

Performance in 2021

1. Comet delivers strong performance

1. Plasma Control Technologies review
2. X-RaySystems review
3. X-RayModules review

1. Information for investors
2. Financial metrics

Purpose and business model

1. Making the future, better
2. Our business model

24 Our material topics

Strategy

1. Comet technologies: More important than ever for a connected world

1. The Comet Group

1. Our path to becoming a higher-performing organization

1. Our strategic initiatives until 2025

What's next?

1. Trends - Expert view: Enabling an even more connected future

1. Prepared to exploit new potential in Asia

1. First inspection workflow for the semiconductor industry

1. Technologies - Expert view: Innovation of tomorrow: faster, more energy-efficient, networked

1. Technologies at the heart of critical manufacturing processes

1. Rapid innovation and shorter time to market for our customers

1. People & Planet - Expert view: Driving change for a more sustainable future

1. Values for success

1. Mission ongoing: Supporting change for a sustainable path to the future

Outlook for 2022

61 Play to strengths, seize opportunities

Financial report 2021

64 Comet Group consolidated financial statements

1. Separate financial statements of Comet Holding AG

1. Corporate governance

1. Compensation report

Sustainability report

171 Sustainability 2021 Comet Group locations

Statement of the Chairman and the CEO

Comet surpasses expectations in a challenging year.

"The Group successfully overcame the pandemic-related bottlenecks."

In 2021, Comet achieved its best results ever. For the first time, we broke the CHF 500 million sales barrier and generated net income of CHF 67.4 million. This was above guidance and expectations, despite all the challenges and headwinds from pandemic-related disruptions and supply chain issues.

COVID-19 was a fact of life in 2021, and we have learned to live with it. In fact, living, working, learning, and consuming in the virtual space has become part of our new "normal". Not only have we adapted to this situation, but in many ways we have thrived.

Thanks to a continued focus on Comet's core businesses in the areas of critical high-performance subsystems for semiconductor manufactur­ ing as well as systems and modules for non-destructive testing, we launched new products, expanded our subsidiaries worldwide to meet increased demand, and ultimately improved our customer satisfaction. This is the result of our employees' high commitment to innovation and to going above and beyond for our customers. We thank our customers for their trust, and our employees for their great efforts to manage such a challenging but ultimately successful year.

Heinz Kundert

Chairman of the Board of Directors

Comet Holding AG

Statement of the Chairman and the CEO

5

"Comet kept focus and emerged stronger."

Kevin Crofton

CEO of the Comet Group

Comet will continue to invest in new technologies and operational im­ provements to keep pace with the demands in our sectors. We will con­ tinue our global expansion in the coming years as the demand for semi­ conductor devices and high-performance testing equipment remains strong. Our addressable markets offer diverse opportunities driven by the world's need to improve connectivity and confront societal chal­ lenges such as climate change and the generation of renewable, clean energy. Device performance will continue to increase and become more efficient. Big Data and artificial intelligence will lead us to smarter de­ cisions, greater efficiency, and the elimination of waste. Digital trans­ formation will continue to require new, forward-looking technologies. At the same time, we see accelerated investments trig­ gered by post-COVID-19 shortages and the trend toward regional re­ silience and independence - which spurs additional demand.

Sustainability is integral to the high-performing organization we want to be. Solidarity with those in need, support for educational projects, purchasing of green electricity, conservation of resources, and diversity have all been practiced and embraced at Comet for many years. But we want to do even more. To live up to our responsibility as a global corporate citizen, we will tackle these issues in a structured way, set long-term goals, and make incremental improvements. In 2021, we launched our formal sustainability initiative and took stock of where we stand. The result is our first sustainability report. Our aim is to use future-proof, measurable sustainability criteria to create value that goes beyond shareholder returns and to systematically improve our en­ vironmental, social and governance performance.

To enhance shareholder value, we are committed to good corporate governance. Compliance remains a priority to protect the long-term in­ terests of our shareholders, customers and employees. The entire Board of Directors and management team are committed to enhanc­ ing our position as a model of compliance and social responsibility.

We want to thank you, our shareholders, for your support of the com­ pany. We also wish to again thank our customers for their confidence in us, and our suppliers for their good collaboration. And finally, we thank our employees for their tireless focus on execution.