Siltronic : CEO Speech Annual General Meeting 2023 (convenience translation)

Siltronic AG

Speech

Annual General Meeting 2023

May 5, 2023

Dr. Christoph von Plotho, CEO

Siltronic AG AGM speech on May 5, 2023

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"Quality, Precision, Wafer"

Speech to the shareholders of Siltronic AG at the Annual General Meeting on May 5, 2023

Dr. Christoph von Plotho, CEO Siltronic AG

TRANSLATED FROM GERMAN

The spoken word is valid

Dear Shareholders,

Dear Shareholder Representatives,

Ladies and Gentlemen,

Welcome to today's Annual General Meeting - also on behalf of my board colleague, Rainer Irle.

I am pleased to welcome you personally to my last Annual General Meeting of Siltronic AG.

First of all, I would like to start with a brief review.

Slide 4 - A review of the last year of Siltronic

We achieved a great deal in the past financial year and had a record year.

Due to the high global demand for silicon wafers, we were working at high capacity throughout the year and were able to achieve price increases with our customers. The favorable development of the US dollar exchange rate gave us additional tailwind. This led to the best sales in Siltronic's history and hence to an excellent result.

Siltronic AG AGM speech on May 5, 2023

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Although our capacity utilization was already very high in 2021, we managed to slightly increase production volumes in 2022. This was possible because a number of production records were achieved at our sites.

Despite the increased volume, we have maintained our high-quality standards. Mr. Irle and I are very proud of the performance of the entire Siltronic team. Thanks to the commitment and passion of our employees, we were able to meet our customers' requirements and received awards from various customers for our performance. Three of our largest customers - Micron Technology, Intel and Samsung Electronics - presented us with supplier awards in 2022, recognizing this outstanding performance.

In the past fiscal year, we also made further progress with the largest investment in Siltronic's history. Our new and state-of-the-art 300 mm fab, FabNext, at our existing production site in Singapore made great progress. Our team on site is doing a remarkable job day by day, so that, as planned, the first wafers should be delivered to our customers early next year. In parallel, investments in the modernization of the Freiberg site have progressed. This is a clear commitment to the location of Germany.

In 2021, Siltronic published a new and ambitious climate strategy. Our goal is to halve our direct greenhouse gas emissions by 2030 and reduce them to zero by 2045. In the past financial year, we took a major step toward achieving this goal. Despite a slight increase in production volumes, we were able to reduce Siltronic's greenhouse gas emissions by more than 10 percent.

Siltronic AG AGM speech on May 5, 2023

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Slide 5 - Siltronic achieves record results in 2022

At 1.8 billion euro, Siltronic's sales in 2022 were more than 28 percent up year-over- year. As already mentioned, this increase was mainly due to price increases, but also to a favorable exchange rate development of the US dollar. The sales development was supported by a slight increase in volume.

This encouraging development is also reflected in EBITDA for the past financial year. Despite a strong headwind from higher prices for energy as well as raw materials and supplies, EBITDA increased by 44 percent and reached 672 million euro. This includes a one-time termination fee as a result of the failed tender offer by GlobalWafers. EBIT also improved significantly compared to 2021, from 317 million euro to 496 million euro.

This resulted in a profit for the period of 391 million euro or 13.02 euro per share.

Slide 6 - Strong financials despite record investments

The strong business is also reflected in our key financial figures. Our equity ratio was a strong 51 percent at the end of the financial year, despite the fact that debt financing was also raised for the investment projects.

At the end of the year, we had net financial assets of 374 million euro despite the very high payments for capital expenditure of almost 1 billion euro. This was mainly due to the strong operating cash flow of 805 million euro. As expected, net cash flow was negative at 395 million euro due to the high cash outflows for capex.

Siltronic AG AGM speech on May 5, 2023

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Slide 7 - Investments in the future

We invested almost 1.1 billion euro in our projects in 2022. The majority of this relates to the aforementioned new state-of-the-art fab, FabNext, in Singapore. In 2023 we expect a slight increase in investments due to the new fab. In the following year, these should roughly halve.

FabNext is on schedule to produce polished and epitaxial wafers for our customers' most demanding applications starting in early 2024.

During the ramp-up phase of the fab we have secured long-term agreements with customers. The scope here is around 80 percent of production capacity. The long-term agreements include major down payments to support the financing of the project.

We take a conservative approach in financing. In addition to prepayments from our customers, we use Siltronic's positive operating cash flow and existing liquidity. In addition, we have raised an appropriate amount of debt financing in the form of a promissory note loan and other loans.

April 2023 marked a decisive milestone in the construction progress of FabNext in Singapore. At the beginning of the month we started bringing in our production equipment. The building, clean room and supply systems were ready on schedule for the bring-in. We are proud to announce that this significant month was successfully completed, and everything went smoothly according to plan. To give you an idea of the impressive work done by the team: The construction site covers an area roughly equivalent to the size of 25 soccer fields. Currently, around 5,000 people are dedicatedly working on site.

Another important project also progressed in the past financial year. The expansion of the crystal pulling hall as well as the expansion of the epitaxy capacity at our Freiberg site. This investment in Germany ensures that we will continue to be able to produce the most demanding wafers for our customers' most advanced applications in the required

Siltronic AG AGM speech on May 5, 2023

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