ANALYST PRESENTATIONJune 2014

2

Safe Harbor Statement

This presentation contains statements about management's future expectations, plans and prospects of our business thatconstitute forward-looking statements, which are found in various places throughout the press release, including , but notlimited to, statements relating to expectations of orders, net sales, product shipments, backlog, expenses, timing ofpurchases of assembly equipment by customers, gross margins, operating results and capital expenditures. The use ofwords such as “anticipate”, “estimate”, “expect”, “can”, “intend”, “believes”, “may”, “plan”, “predict”, “project”, “forecast”,“will”, “would”, and similar expressions are intended to identify forward looking statements, although not all forward lookingstatements contain these identifying words. The financial guidance set forth under the heading “Outlook” constitutes forwardlooking statements. While these forward looking statements represent our judgments and expectations concerning thedevelopment of our business, a number of risks, uncertainties and other important factors could cause actual developmentsand results to differ materially from those contained in forward looking statements, including the discovery of weaknesses inour internal controls and procedures, our inability to maintain continued demand for our products; the impact on ourbusiness of potential disruptions to European economies from euro zone sovereign credit issues; failure of anticipatedorders to materialize or postponement or cancellation of orders, generally without charges; the volatility in the demand forsemiconductors and our products and services; failure to adequately decrease costs and expenses as revenues decline,loss of significant customers, lengthening of the sales cycle, incurring additional restructuring charges in the future, acts ofterrorism and violence; inability to forecast demand and inventory levels for our products, the integrity of product pricing andprotect our intellectual property in foreign jurisdictions; risks, such as changes in trade regulations, currency fluctuations,political instability and war, associated with substantial foreign customers, suppliers and foreign manufacturing operations;potential instability in foreign capital markets; the risk of failure to successfully manage our diverse operations; thoseadditional risk factors set forth in Besi's annual report for the year ended December 31, 2013 and other key factors thatcould adversely affect our businesses and financial performance contained in our filings and reports, including our statutoryconsolidated statements. We are under no obligation to (and expressly disclaim any such obligation to) update or alter ourforward-looking statements whether as a result of new information, future events or otherwise.

June 2014

3

Agenda

I. Company Overview

II. Market

III. Technology Update

IV. Operations Review

V. Financial Review

June 2014

4

I. COMPANY OVERVIEW

June 2014

5

Company Overview

• Leading assembly equipment supplier with #1 and #2 positions in key products. 27% addressable market share

• Broad portfolio: die attach, packaging, plating, wire bond • Strategic positioning in wafer level and substrate packaging • Global mfg. operations in 7 countries; 1,569 employees

worldwide. HQ in Duiven, the Netherlands

Corporate Profile

• 2013 revenue and net income of € 254.9 and € 16.1 million• Cash at 3/31/14: € 91.9 million• Total debt at 3/31/14: € 19.1 million• € 45 million of dividends and share repurchases since 2011

Financial Highlights

• Growth of advanced packaging, smart phone/tablets and market share offer revenue upside

• Significant unrealized earnings potential from optimization of Asian production model and common platforms

• Stock market valuation at discount to peers

Investment Considerations

June 2014

6

Stock Price Information

• Market cap € 456.2 million: 37.3 million shares x € 12.23 price (May 30)

• Shares listed on Euronext Amsterdam (BESI) and OTCQX International (BESIY). Average daily volume of 164,000

• Trading at discount to industry multiples:

Besi Industry (a) Peers (b)

TTM EV/S 1.6x 1.8x 1.3x

TTM EV/EBITDA 15.1x 12.5x 16.6x

2014E EV/S 1.4x 1.6x 1.2x

2014E EV/EBITDA 7.8x 10.8x 11.6x

Data source: Bloomberg (a) Industry: 36 companies selected from Bloomberg & Reuters Semiconductor Equipment categories(b) Peers: ASMPT, Disco Corp, Tokyo Seimitsu, Shinkawa, Süss MicroTec and K&S

June 2014

Shareholder Returns

7June 2014

1.6%

13.1%

42.0%

48.8%

4.0%

4.3%

5.2%

4.0%

5.6%

17.4%

47.2%

52.8%

0%

10%

20%

30%

40%

50%

60%

2011 2012 2013 YTD 2014

Besi Shareholder Total Return 2011 - 2014*

Price

Dividend178.6%

52.5%

0.0%

20.0%

40.0%

60.0%

80.0%

100.0%

120.0%

140.0%

160.0%

180.0%

200.0%

Total Cumulative Shareholder Return 2011-2014*Besi vs. SOX Index

Besi

PHLX Semiconductor(SOX)

* Through May 30, 2014

8

II. MARKET

June 2014

147.9

351.1 326.9

273.7 254.9

136.5 168 – 175

-1.0%

137.4%

-6.9%-16.3%

-6.9%

25.7%

-50%

0%

50%

100%

150%

-

100.0

200.0

300.0

400.0

2009 2010 2011 2012 2013 H1 2013 H1 2014

(€m

illio

ns)

Besi RevenueRevenue YoY Growth Rate

Assembly Equipment Market Trends

9

* Source: VLSI April 2014

2.1

4.7 4.3

3.9

3.0 3.2 3.4

-27.1%

124.0%

-7.7% -9.6%-23.1%

5.8% 7.1%

-50%

0%

50%

100%

150%

-

1.0

2.0

3.0

4.0

5.0

2009 2010 2011 2012 2013 2014E 2015E

(US

$ bi

llion

s)

Assembly Equipment*

Market Size YoY Growth Rate

• VLSI forecasts renewed growth of assembly market in 2014 and 2015• Besi revenue growth exceeding assembly market in 4 of past 5 years

June 2014

2014 Industry Outlook

10

Global Market Environment Improving

VLSI sees assembly system growth in 2014/2015 driven by advanced packaging apps

New tech/device buys and capacity

additions

Renewed strength in tablets, smart

phones and automotive

Die bonding and flip chip are positive. TCB flip chip is

emerging

Companies with thin package

capabilities are winning

June 2014

11

Die Bonding36.9%

Flip Chip17.1%

Die Sorting4.3%

Singulation8.4%

Presses8.7%

Molds15.8%

Lead Trim & Form7.2%

Plating1.6%

Assembly Equipment Market Composition

• Half of assembly market 2013 represented by die attach and wire bonding equipment

• Die Attach represents Besi’s largest addressable market

Die Attach 58%

Packaging 40%

Plating2%

Assembly Equipment Market * (2013: $3.0 billion)

Besi Addressable Market *(2013: $1.2 billion)

* Source: VLSI April 2014

Wire Bonding26.8%

Die Attach20.1%

Packaging23.1%

Plating0.6%

Other Assembly

(Inspection, Dicing)29.4%

June 2014

Advanced Packaging Unit Volume and MarketShare Are Increasing

12

8%9%

10%

13%

19%

26%

31%32%

34%

36%

0%

5%

10%

15%

20%

25%

30%

35%

40%

-

5

10

15

20

25

30

35

2008 2009 2010 2011 2012 2013 2014 2015 2016 2017

AP

Mar

ket S

hare

%

M w

afer

s, 3

00M

M E

q.

Advanced Packaging Wafers

Advanced Packaging Unit Market Share (%)

CAGR 2008-2017: 22.7%

• Advanced Packaging (Flip Chip/WLP) is fastest growing assembly process

• In growth phase with move to <20 nano driven by smart phones, tablets, autos and Internet of Things

Source: VLSI January 2014

June 2014

13

Advanced Packaging Growth Favors Besi

Greater Miniaturization

Greater Complexity

Increased Density

Higher Performance

Lower Power Consumption

Higher Accuracy

• High growth applications require ever smaller, denser and more complex chips with increased performance, all at lower power usage

• <40 nanometer geometry will be the standard chip design over the next 3-5 years

• System on Chip or System in Package via substrate and wafer level packaging process is the only answer

• Besi has full range of AP systems. 2013E revenue: 70% substrate/wafer level vs. 30% leadframe

Die Attach• Die Sorting : DS 9000• Die Bonding : ES 2009, 2100• Flip Chip : DC 8800, 8800 TCB,

2100• Multi Module : DC evo 2200

Packaging• Molding : AMS-LM 95• Singulation : FSL

High Growth EndUser Areas:

Mobile internet devices, Autos,

MEMS, Internet of Things

Datacon Esec Fico

June 2014

14

Computer,

PCs

50%

Mobile

Internet

Devices

22%

Auto

13%

Industrial

10%

LED

3%

Service

2%

2008

And Is Reflected in BesiEnd User Application Trends

Computer,

PCs

20%

Mobile

Internet

Devices

35%

Auto

17%

Industrial

10%

LED

3%

Spares/

Service

15%

2013

Source: 2013 Company Estimates

• Mobile internet devices now equal 35% of Besi’s end user revenue

• Automotive has also increased significantly in recent years

• Service/spare parts have grown to 15%. Less cyclical revenue stream

June 2014

15

Customers OEMs End Products

Customer Ecosystem

• Blue chip customer base, top 10 customers represented 51% of 2013 revenue • Leading Asian Subcontractors and IDMs. 50/50% split in 2013• Equipment utilized to produce chips for leading fabless companies: Qualcomm,

Broadcom, MediaTek• Long term relationships, some exceeding 45 years

IDMs

Subcontractors

June 2014

2010 2011 2012 2013 2014 2015 2016 2017

Units 15 60 120 184 263 331 398 463

-

100

200

300

400

500

Uni

ts (

mill

ions

)

Tablet Units

16

Source: Gartner

Growth Primarily Driven by Mobile Internet Devices

• Rapid unit growth in smart phones and tablets forecast over next 5 years

• Estimated unit growth rates:

• Smart phones:• 2014: 25%• 2017: 1.8x

• Tablets:• 2014: 43%• 2017: 2.5x

• Significant potential revenue growth driver

2010 2011 2012 2013 2014 2015 2016 2017

Units 300 473 680 1,015 1,269 1,458 1,633 1,780

-

400

800

1,200

1,600

2,000

Uni

ts (

mill

ions

)

Smart Phone Units

49.2%

25.1%14.9%

12.0%

8.9%

43.8%57.8%

53.4%

42.7%25.9%

20.1%16.2%

100.5%311.2%

June 2014

Flip Chip/Wire Bond Process Shift Is Another Revenue Opportunity

17

• Move to <40 nanometer can only be accomplished by use of flip chip die bonding vs. wire bonding process

• Flip chip revenue represents only 26% currently of total potential market of $1.2 billion

• Expected to gain share rapidly over next 5 years vs. wire bonding (3.5% CAGR delta) as per VLSI

• Growth rates could accelerate depending on adoption rates by key IDMs/subcons

CAGR 2013 – 18Flip Chip 6.6%Wire Bond 3.1%

Wire Bonding Flip Chip Bonding

Reduces board area by up to 95%.

Requires far less height

Offers higher speed electrical

performance

Greater I/O connection flexibility

More durable interconnection

method

Lower cost for high volume production,

with costs below $0.01 per connection

Flip Chip Advantages

Source: VLSI April 2014

Flip Chip$250 26%

Wire Bonding

$695 74%

2013

Flip Chip$345 30%

Wire Bonding

$809 70%

2018

June 2014

Besi Is Gaining Market Share

18

-

50

100

150

200

250

2008 2009 2010 2011 2012 2013

Cumulative Growth: Besi vs. Assembly Equipment Mark et

Besi Assembly Equipment

Besi +71%

• Besi had 66% cumulative positive revenue variance vs. assembly market over past 5 years

Assembly Equipment +5%

June 2014

Particularly In Its Addressable Markets

19

• Gaining share in fastest growing segments of the assembly equipment market:• Flip chip die bonding, multi module die attach and ultra thin molding for

advanced packaging applications

Besi Market Share

Source: VLSI, April 2014 and Besi estimates 2012 2013

Total Assembly Equipment Sales 8.6% 10.8%

Besi Addressable Market 21.8% 27.0%

Total Die Attach Equipment 27.7% 33.1%

Die Bonding 29.7% 39.6%

Flip Chip 22.2% 25.4%

Other 25.9% 7.5%

Total Packaging Equipment 11.1% 16.0%

Molds 12.0% 19.2%

Lead Trim & Form 15.0% 17.6%

Singulation 5.3% 5.1%

Total Plating 75.8% 83.8%

June 2014

20

• Customers are largest producers. • Most advanced packaging applications

• Strong customer market shares:• ≈ 50 – 100% of die attach requirements

• ≈ 35 – 50% of packaging requirements

• Customer market shares p.a. vary based on capacity needs and purchasing cycles

• Primary competition:• Die Attach: ASM-PT, Hitachi,

Panasonic• Packaging: Towa, Hanmi,

ASM-PT

And With Leading Edge Technology Customers

* As of April 2014** No customer purchases indicated*** Fabless semiconductor companies such as Qualcomm, Broadcom and Mediatek have assembly

production done by subcontractors**** In general, Samsung satisfies approximately 50% of its equipment needs internally

Through April 30, 2014

Die Attach PackagingIn USD FY11 FY12 FY13 YTD14 FY11 FY12 FY13 YTD14*SubcontractorsASE 76% 67% 59% 42% 34% 36% 65% 44%Amkor 36% 75% 84% 84% 63% 45% 11% 19%STATSChippac 100% 95% 100% 91% 61% 28% 100% 79%SPIL 63% 47% 93% 100% 35% 37% 76% 43%Unisem 100% 92% 84% 100% 68% 0%** 0%** 0%**Cowell/Foxconn(Camera Modules) 0%** 100% 0%** 100%

IDMs ***Skyworks 78% 100% 96% 100% 0% 13% 24% 22%ST Micro 92% 91% 72% 100% 51% 44% 76% 29%Infineon 93% 81% 97% 100% 37% 0%** 24% 86%Samsung**** 17% 5% 0%** 0%** 37% 0%** 100% 0%**

% of Besi Die Attach and Packaging systems revenue 30% 47% 43% 62% 67% 53% 64% 71%

June 2014

21

III. TECHNOLOGY UPDATE

June 2014

22

Dicing

Back-end Semiconductor Assembly Process

Die Attach Wire Bond Packaging Plating

Leadframe Assembly

SubstrateWire Bond Assembly

SubstrateFlip Chip Assembly

Wafer Level PackagingFlip Chip Assembly

Wire BondDie Bond

FC Die Bond

FC Die Bond

Molding

Molding

Molding

Trim & Form

Singulation

Singulation

Singulation

Plating

Ball Grid Array

Ball Grid Array

Die Sort

Die Sort

Die Sort

Die Attach Packaging Ball Attach

Besi Product Positioning

June 2014

Key Development Objectives

23

Development Objectives

Advanced TCB die bonding development

Introduction of next generation die attach and wafer molding systems

Common platform/parts activities

2013 2014 2015

June 2014

Key Drivers of Technology

We are all connected

Source: ITU

Internet users per 100 inhabitants.

Source Cisco

Source Intel

More connected devices

More data

More users

24June 2014

Besi‘s Key Technology Drivers

We are in a system integration era

25June 2014

IC and PackagingTechnology Development Is Becoming More Critical

Source IBM

On IC level On packaging level

Source SPIL

• Increased functionality

• Higher speeds

• Less power consumption

• Smaller geometries

• Lower cost of ownership

26June 2014

Besi Assembly Process Technology Steps

• Sorting and mounting chipson substrate materials

• Molding/encapsulation ofchips in packages

• Singulation/trim and form of packages

• Electrochemical andmaterials plating

• Flip chip, TCB and ultra thinmolding are key technologiescurrently

27June 2014

Flip Chip and TCB Die Attach Portfolio

Besi Product Strengths :

• Highly Accurate• Highly Reliable• High System to System Repeatability

28June 2014

Flip Chip Market Trends

will be biggestFC segment

in 2018 (30%)

In 2018 „handsets“will be biggestFC segment(about 30%)

In 2012 „computingwas the biggest

FC segment

(about 50%)

29June 2014

Flip Chip Technology Trends

30June 2014

Flip Chip on LFcoarse pitch ≥ 200µ

C2 Flip Chip **)

fine pitch ≥ 50µ

TC Flip Chipultra fine pitch ≤40µ

10µ@3σ Cu-pillarFlip Chip

C4 Flip Chip *)

standard pitch ≥ 130µ

Mass Reflow FC Processes*) C4: Controlled Collapse Chip Connect (IBM)

**) C2: Chip Connect (IBM)

LowProductivity

Mass reflow

Highproductivity

0

5

10

15

20

25

FC-LF C4 C2 -Fpitch TCB

More Process Alternatives Available

• In past, C4 was standard

• Copper Pillar and ThermalCompression now available

• Accuracy Moving to < 3um

• Different technologies will runin parallel

Besi develops solutions for alladvanced FC technologies

140 um

STANDARD C4 ADVANCED CU PILLAR Accuracy um

Localreflow

Thermo Compression Bonding

• Besi has most advanced bondhead in industry:• 7-Axis Control• Active Height Control during melting with

dynamic force control• Extremely fast Heat Up and Cool Down

capabilities• Superior placement accuracy< 2UM• Up to 25 stacks shown!

• Initial focus-memory applications. Expandingto other high volume applications

• Competition: ASM PT, KLIC (in development)

31June 2014

Thin Packaging Trends

Thinner and more varied package types

• In past, PoP Wire Bond was standard

• Now exposed/non-exposed die Flip Chip using Molded Underfill

• Thin Moldcap moving to < 120 µM

• Underfill moving to < 30µM

Different technologies will run in parrallel

Besi develops molding solutionsfor all advanced FC technologies

32June 2014

Ultra Thin Molding

• Shift to <28 nano geometry has caused large market opportunity for Besi’s AMS-LM

• Only system which can deliver these specs• Currently qualified for ALL 2014/2015 tablet

and smart phone platforms

• Revenue has grown by over 100% during past two years

Key Features:

• Can reach .12MM overall package thickness

• One shot molding of molded underfill and bleed free products

• Flash and bleed free product

• No warping

• Mold cap polarities of +/- 5 um

33June 2014

Wafer and Large Area Molding

Besi has most advanced molding capabilities inthe industry:

• Large area molding up 340mm x 340mm

• eWLB and C2 wafer applications

• Overmolded and exposed capabilities

• Glass and silicon interposer molding

• Thin moldcap moving to <250 mm

34June 2014

Common Parts Product Redesign

• Development efforts underway to redesign die attach and packaging systems to increasecommon parts utilized per system

• Benefits: Lower unit cost, improved working capital mgt, shorter cycle times

• Anticipated completion date: Winter 2015/16

• Magazine handler• Wafer gripper• Dispenser• Wafer table• Wafer Cassette Handler• Die Ejector• Control Platform

Areas of focus:

Potential Unit Cost Savings

DB2100 (7%)

2200evo (11%)

8800FCQ (11%)

Average (9%)

35June 2014

Summary

• Semiconductors play an increasingly more important role in electronics and in our world

• Advanced Packaging has become an important technology enabler as IC devicesget smaller, denser and more complex with increased functionality

• Besi product portfolio and technology is at forefront of advanced packaging trends

• Common parts/common platform product redesign to lower productioncosts and increase manufacturing efficiency

36June 2014

37

IV. OPERATIONS REVIEW

June 2014

Key Operational Objectives

38

Operational Objectives

Asian production transfer completed

European Die attach integration activities

Expansion of Asian supply chain. System module outsourcing

2013 2014 2015

June 2014

Asian Production Transfer Completed

39

396

487

658 673

370

567

170

331

553 579

42.9%

68.0%

84.0% 86.0%

0.0%

10.0%

20.0%

30.0%

40.0%

50.0%

60.0%

70.0%

80.0%

90.0%

100.0%

-

100

200

300

400

500

600

700

800

2010 2011 2012 2013 H1 2013 H1 2014

% D

irect

Shi

pmen

ts

Shi

pmen

ts

Total Asian Shipments Direct Asian Shipments % Direct

+53%

June 2014

Has Led to Lower European and Aggregate Headcount

40

• Fixed European/North American headcount reducing:• Down 16% since 2011• Declined from 56% of total in 2009 to

43% at end of Q1-14

• Aggregate of 1,569 headcount at Q1-14 (including temps):• Up 3.0% vs. Q1-13• Asian production temps support Q1-14

order ramp (+73% YOY)738 741 680 624 623

772 802 799

810 839

1,510 1,543 1,479

1,434 1,462

-

200

400

600

800

1,000

1,200

1,400

1,600

1,800

2010 2011 2012 2013 Q1 2014

Hea

dcou

nt

Europe/NA Fixed HC Asia Fixed HC Total

51%

49%

52%

48%

54%

46%

56%

44%

57%

43%

June 2014

And Also Reduced Break Even Revenue Levels

41

270

235

212

-

50

100

150

200

250

300

2011 2012 2013

(€m

illio

ns)

(13.0%)

(10.0%)

June 2014

Workforce Has Also Become More Flexible and Scalable

42June 2014

• Fixed HC levels have reduced and are stabilizing

• Revenue ramping primarily using Asian temp production labor

1,510 1,543 1,479 1,434 1,462

194 64 60

24 107

1,704 1,607

1,539 1,458

1,569

0%

2%

4%

6%

8%

10%

12%

-

500

1,000

1,500

2,000

2,500

2010 2011 2012 2013 Q1 14

Tem

p %

of T

otal

Hea

dcou

nt

Fixed Temp Temp % of Total

Materials Cost Reduction Is a Key Priority

43June 2014

• Qualify and Select Asian Vendors• Replace European Vendors• 50% of the way there

Supply Chain Actions

• Redesign products• Increase standardization of systems

• Component parts• Modules

Development Actions

+5% Gross Margin Upside

• Material costs represent approximately 50% of revenue• Shift to Asia centric supply chain:

• Reduces transport, inventory costs and obsolescence• Improves cycle time and ramping flexibility

• Mgt Board reviews progress weekly component by component

44

V. FINANCIAL REVIEW

June 2014

Operational Progress in 2013 Yielded Increased Efficiency

45

€ 273.7

€ 254.9

5.8%

6.3%

5.0%

6.0%

7.0%

8.0%

9.0%

10.0%

11.0%

12.0%

€ 100.0

€ 125.0

€ 150.0

€ 175.0

€ 200.0

€ 225.0

€ 250.0

€ 275.0

€ 300.0

2012 FY 2013 FY

Net

Mar

gin

%

€m

illio

ns

Revenue Net Income Margin

Gross Margin

OPEX

Headcount

Effective Tax Rate

19.1% 15.8%

1,539 1,458

€ 87.9 MM € 82.7 MM

-5.3%

-3.3 points

-5.9%

39.7% 39.8%+0.1 points

-6.9%

June 2014

Q1-14 Revenue Growth and Operational Progress Translated Into Strong Profit Increase

€ 64.0

€ 70.0

5.9%

10.0%

0.0%

5.0%

10.0%

15.0%

20.0%

25.0%

30.0%

35.0%

€ 0.0

€ 25.0

€ 50.0

€ 75.0

Q1 2013 Q1 2014

Net

Mar

gin

%

€m

illio

ns

Revenue Net Income Margin

Gross Margin

OPEX

Headcount

Effective Tax Rate

23.5% 11.6%

1,524 1,569

€ 21.1 MM € 21.5 MM

+3.0%

-11.9 points

+2.3%

39.6% 42.3%+2.7 points

+9.3%

46June 2014

Mar 10 Jun 10 Sept10

Dec10

Mar 11 Jun 11 Sept11

Dec11

Mar 12 Jun 12 Sept12

Dec12

Mar 13 Jun 13 Sept13

Dec13

Jan 14 Feb 14 Mar 14 Apr 14

Total Equipment 1.21 1.18 1.03 0.90 0.95 0.94 0.71 0.85 1.12 0.93 0.78 0.92 1.11 1.10 0.97 1.02 1.04 1.01 1.06 1.03

Assembly Market 1.51 1.35 0.81 0.86 1.01 0.92 0.81 1.02 1.28 1.11 0.53 0.92 1.08 1.26 0.68 1.06 1.29 1.18 1.25 1.27

Besi 1.72 1.49 0.88 0.55 0.97 0.92 0.99 0.78 1.51 1.05 0.65 0.92 1.00 1.14 0.74 1.07 1.59

1.21

0.90 1.12

0.78 1.04 1.03

1.51

0.81

1.28

0.53

1.26

0.68

1.29 1.27

0.50

0.75

1.00

1.25

1.50

1.752010-2014 Quarterly Book to Bill Ratio

Business Has Become More Cyclical and Seasonal With Shorter Cycles

47

• Besi order trends highly correlated to assembly equipment industry• Strong industry growth in H1 followed by weaker H2 is now the trend• Q3-13 was most recent trough. New order upturn starting in Q4-13

Source: Semi May 2014

Assembly Market

Total Semi Equipment

Besi

June 2014

1.59

48

• Quarterly revenue/order patterns show cyclicality of semiconductor business :• Three cycles past 3 years• Short term patterns due to customer

caution and increased seasonality • Q3-13 trough. Big Q1-14 rebound

• Gross margins have held up despite cyclicality :• Increased scalability of production model• Shift to higher margin systems• Lower unit costs due to:

• Asian production transfer• Reduction in European personnel

• Product mix shift to higher margin advanced packaging systems has aided gross margin development :• Multi module + flip chip die attach• Ultra thin molding systems• Drivers: mobile internet, intelligent auto

components and new devices• Exit from lower margin plating, wire

bonding and packaging systems

Quarterly Revenue/Gross Margin Trends

64

72

65

53

70

64

83

48

57

111

30.0%

32.0%

34.0%

36.0%

38.0%

40.0%

42.0%

44.0%

46.0%

48.0%

50.0%

-

20

40

60

80

100

120

Q1-13 Q2-13 Q3-13 Q4-13 Q1-14 Q2-14G

ross

Mar

gin

%

In M

illio

ns €

Revenue Orders Gross Margin

105-

98

44%

42%

June 2014

Net Income Trends

• Quarterly net income trends reflect industry and seasonal volatility

• YOY Margins expanding• Net margin of 10.0% in Q1-14 vs. 5.9% in

Q1-13 on 9% revenue growth

• Helped by steady gross margins and significant operating leverage• Quarterly opex have ranged between

€ 20-23 million over past 9 quarters• € 21.5 million in Q1-14

• As well as lower effective tax rate• 11.6% in Q1-14• 2012 European operational reorganization• Favorable profit mix of European

subsidiaries3.8

6.5

4.4

1.4

7.0

5.9%

9.0%

6.8%

2.7%

10.0%

6.4%

0.0%

2.0%

4.0%

6.0%

8.0%

10.0%

12.0%

0

2

4

6

8

10

12

Q1-13 Q2-13 Q3-13 Q4-13 Q1-14

(eur

o in

mill

ions

)

Net Income ex. NR Net IncomeNet Margin Net Margin ex. NR

3.4

49June 2014

50

Liquidity Trends

• Solid liquidity position• € 91.9 million cash at 3/31/14• € 2.46 per share vs. € 11.22 price • Net cash reached € 72.8 million in Q1-14:

• Has Been Utilized to Enhance Shareholder Value• € 45 million spent on share repurchases

and cash dividends 2011-2013• 2013 reflects € 6.1 million of higher cash

dividends and € 1.8 million increased share repurchases vs. 2012

• Strong balance sheet supports future organic growth and acquisition strategy

91.9

81.1 78.5

89.6 91.9

27.7 24.9

22.5 18.6 19.1

64.2

56.2 56.0

71.0 72.8

0

10

20

30

40

50

60

70

80

90

100

Q1-13 Q2-13 Q3-13 Q4-13 Q1-14

(eur

o in

mill

ions

)

Cash Debt Net Cash

June 2014

Q2-2014 Guidance as per April 30th, 2014

51

Revenue Gross Margin Operating Expenses Capex

Q1 Q2 Q1 Q2 Q1 Q2 Q1 Q2

€ 70.0 MM 42.3% € 21.5 MM € 1.0 MM

44%-

42%

Up40-50%

Up€ 0.6 MM

• 40-50% sequential revenue growth forecast based on backlog and order trends• Gross margins will range between 42-44% • Opex up approximately 10%• Revenue growth and operating leverage = Q2-14 profit and margin expansion• Capex of € 1.6 million

Up10%

June 2014

52

Summary

Leading semi assembly equipment supplier with #1

or #2 positions in fastest growing assembly

segments

Scalability and profitability of business model greatly

enhanced in cyclical industry

Strong H1-14 growth anticipated. Gaining market

share. Favorable outlook for 2014

Solid liquidity position. Committed to enhancing

shareholder value

Significant upside potential.Advanced packaging growth, ongoing cost

reduction and optimization of Asian production model

Attractive stock market valuation and dividend yield relative to peers

June 2014

Financial Calendar

12-Jun-14 Analyst Meeting, Amsterdam, the Netherlands

2-Jul-14 EnterNext Day, London, United Kingdom

31-Jul-14 2014 Second Quarter Results

13/14-Aug-14 Canaccord Growth Conference, Boston, USA

17-Sep-14 ABN AMRO Equities Autumn Conference, Amsterdam, the Netherlands

17/19-Sep-14 2014 Autumn Conference Kepler Cheuvreux, Paris, Franc e

2/3-Oct-14 Euronext Large & MidCap Event, Paris, France

30-Oct-14 2014 Third Quarter Results

19/21-Nov-14 Morgan Stanley European TMT Conference, Barcelona, Spain

June 2014