MAKING A MATERIAL DIFFERENCE Q2 2021 Financial Results Conference Call Veeco (Nasdaq: VECO) August 3, 2021 Safe Harbor This presentation contains "forward-looking statements", within the meaning of the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995, as amended, that are based on management's expectations, estimates, projections and assumptions. Words such as "expects," "anticipates," "plans," "believes," "scheduled," "estimates" and variations of these words and similar ...

Financial Data and Key Metrics Changes - Revenue for Q2 2021 was $146 million, representing a 9% sequential increase and a 48% year-over-year increase [24] - Non-GAAP gross margin was 41.6%, flat compared to the previous quarter [27] - Non-GAAP operating income increased by 32% sequentially to $21.3 million, more than doubling from the same quarter last year [27] - Diluted non-GAAP EPS was $0.35, based on a diluted share count of 51.8 million shares [27] - Cash and short-term investments at the end of the quarter were $330 million, a sequential increase of $2 million [28] Business Line Data and Key Metrics Changes - Semiconductor revenue increased by 43% to $54 million, accounting for 37% of total revenue, driven by Laser Annealing and Lithography products [25] - Data Storage revenue increased by 84% to $52 million, making up 35% of total revenue, driven by capacity and technology additions [25] - Compound Semiconductor revenue increased by 37% to $24 million, representing 17% of total revenue, driven by wet processing systems for RF applications [25] Market Data and Key Metrics Changes - The U.S. region accounted for 46% of total revenue, driven by Ion Beam systems shipped to Data Storage customers [26] - The Asia-Pacific region (excluding China) made up 34% of revenue, while China accounted for 14% [26] - Wafer fab equipment spending is forecasted to be approximately $18 billion for 2021, with long-term forecasts predicting spending up to $100 billion annually [13] Company Strategy and Development Direction - The company is focused on four priorities: improving culture, enhancing profitability, achieving revenue growth, and investing in evaluation systems and service infrastructure [21][22] - The strategic rationale for the Ultratech acquisition is now serving as a cornerstone for the overall growth strategy [10] - The company is expanding its manufacturing footprint for Laser Annealing and Lithography products to meet increasing demand [16] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the remainder of 2021, with near-term growth plans unfolding as expected [8] - The company anticipates a digestion period in Data Storage equipment in 2022 but expects to offset this with growth in Semiconductor and Compound Semiconductor markets [43] - Management highlighted strong momentum in the semiconductor market, particularly in Laser Annealing and Advanced Packaging [10][16] Other Important Information - The company plans to host a Virtual Analyst Day in September to share more details about its strategy, markets, and technologies [33] - The company expects Q3 revenue to be between $135 million and $155 million, with non-GAAP gross margin between 41% and 43% [30] Q&A Session Summary Question: Update on equipment wins and evaluation tools - The company has shipped eight out of ten planned evaluation tools, with strong performance in Laser Annealing and Compound Semiconductor applications [36][37] Question: Data Storage market outlook - The company has a significant backlog in Data Storage and expects continued growth despite a potential slowdown in the market [40][42] Question: Sources of second-half upside - The company is seeing strength in its Semiconductor business and higher service revenue, which may provide upside in the second half of the year [50] Question: Supply chain constraints - The company is experiencing supply chain constraints but has successfully mitigated risks through proactive measures [59][60] Question: Advanced Packaging business demand - The Advanced Packaging business is seeing broad-based demand, particularly in heterogeneous integration applications [74][76]

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2021 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Commission file number 0-16244 VEECO INSTRUMENTS INC. (Exact Name of Registrant as Specified in Its Charter) Delaware 11-2989601 (State or Other Jurisdiction of Incorporati ...

Financial Data and Key Metrics Changes - Revenue for Q1 2021 was $134 million, driven by semiconductor and data storage sales, with a gross margin above 41% and non-GAAP operating income of $16 million, leading to diluted non-GAAP EPS of $0.25 [9][28] - Cash flow from operations was $10 million, and cash and short-term investments increased by $8 million to $328 million [10][32] - The company increased its full-year revenue guidance to a range of $540 million to $560 million, reflecting a 21% year-on-year growth, up from a previous guidance of 17% [37] Business Line Data and Key Metrics Changes - Semiconductor revenue was $52 million, representing 39% of total revenue, driven by laser annealing and lithography products [29] - Compound semiconductor revenue was $25 million, making up 18% of total revenue, driven by wet processing systems for RF applications [29] - Data storage revenue was $41 million, accounting for 31% of total revenue, with expectations for continued growth [29] Market Data and Key Metrics Changes - The Asia Pacific region (excluding China) contributed 41% of total revenue, the United States accounted for 34%, China made up 15%, and EMEA contributed 10% [30] - Analysts forecasted a growth of more than 20% in wafer fab equipment for 2021 and another 10% in 2022, indicating a healthy macro environment in the semiconductor equipment space [11] Company Strategy and Development Direction - The company is focusing on maintaining resiliency across operations, profitability, and near-term growth with laser annealing, 5G RF, and data storage solutions [25][26] - Investments are being made in evaluation systems and service infrastructure to support growth and win additional application steps [26] - The company is engaging with customers and shipping evaluation systems to position itself for long-term growth [13] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the company's performance and the positive macro trends in the semiconductor space, noting increased demand for laser annealing and advanced packaging [41][44] - The company is cautiously optimistic about returning to normal operations as vaccination rates increase, while prioritizing employee health and safety [7][8] Other Important Information - The company reported a backlog of $366 million at the beginning of the year, with data storage being the largest contributor [102] - The company is experiencing strong demand in the compound semiconductor market, particularly for RF filters and power amplifiers driven by 5G adoption [22][78] Q&A Session Summary Question: Demand pull-ins in semiconductor supply chain - Management noted an uptick in demand aligned with macro trends, particularly in laser annealing opportunities, and increased engagement in the semiconductor space [41] Question: Number of evaluation tools delivered - Six evaluation systems are currently in the field, with plans to ship four more by the end of the year, focusing on laser annealing and advanced packaging [45] Question: Advanced packaging market demand - Demand is broadening to include foundries and IDMs, not just OSATs, indicating a positive trend in the advanced packaging market [50] Question: Supply chain tightness - The supply chain is currently stable, with no significant constraints reported, and the company is actively managing supply chain issues [59] Question: Data storage business visibility - Management indicated that Q1 revenue was within expectations, and they anticipate a strong data storage year based on backlog [67][68] Question: Transition to HAMR and EMR heads - The transition to more complex heads is expected to increase the number of passes through Veeco's equipment, positively impacting demand [91] Question: Backlog size and growth - The backlog was reported at $366 million, with a positive trend in backlog execution, particularly in data storage and semiconductor segments [102]

MAKING A MATERIAL DIFFERENCE Q1 2021 Financial Results Conference Call Veeco (Nasdaq: VECO) May 4, 2021 Safe Harbor This presentation contains "forward-looking statements", within the meaning of the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995, as amended, that are based on management's expectations, estimates, projections and assumptions. Words such as "expects," "anticipates," "plans," "believes," "scheduled," "estimates" and variations of these words and similar exp ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Commission file number 0-16244 VEECO INSTRUMENTS INC. (Exact Name of Registrant as Specified in Its Charter) Delaware 11-2989601 (State or Other Jurisdiction of Incorporation or Organization) (I.R.S. Employer Identifi ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K (Mark One) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2020 Terminal Drive Plainview, New York 11803 (Address of Principal Executive Offices) (Zip Code) Registrant's telephone number, including area code: (516) 677-0200 Securities registered pursuant to Section 12(b) of the Act: OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 1 ...

MAKING A MATERIAL DIFFERENCE | --- | --- | --- | --- | |-------|----------------------|-------|-------| | | | | | | | | | | | | Q4 2020 | | | | | Financial Results | | | | | Conference Call | | | | | Veeco (Nasdaq: VECO) | | | | | February 11, 2021 | | | Safe Harbor This presentation contains "forward-looking statements", within the meaning of the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995, as amended, that are based on management's expectations, estimates, projectio ...

Financial Data and Key Metrics Changes - Revenue for the full year 2020 was $454 million, compared to $419 million in 2019, representing an increase of 8.3% [14] - Gross margin improved by nearly 5 percentage points to 43% in 2020 [14] - Non-GAAP operating income increased from $5 million in 2019 to $52 million in 2020 [32] - Diluted non-GAAP EPS reversed from a loss of $0.03 in 2019 to a profit of $0.86 in 2020 [15] - Q4 2020 revenue was $130 million, above the high end of guidance, with diluted non-GAAP EPS at $0.30 [16] Business Line Data and Key Metrics Changes - Semiconductor revenue for 2020 was $166 million, a decline of about 6% from the prior year, making up 36% of total revenue [26] - Compound Semiconductor revenue was $108 million, a 26% increase from 2019, contributing 24% to total revenue [26] - Data Storage revenue was $123 million, a 47% increase over the prior year, accounting for 27% of total revenue [27] - Scientific & Other revenue was $57 million, a decline of 23% from 2019, making up 13% of total revenue [27] Market Data and Key Metrics Changes - In Q4 2020, Semiconductor market revenue contributed 41% of total revenue, driven by laser annealing systems [29] - Compound Semiconductor market accounted for 33% of revenue, driven by 5G RF applications [30] - Data Storage market contributed 14% of total revenue, with expectations for growth in 2021 based on order backlog [30] - Asia-Pacific region including China made up 48% of total revenue in Q4 2020 [31] Company Strategy and Development Direction - The company is focusing on growth in Semiconductor and Compound Semiconductor markets, with investments in R&D and service [13][50] - Plans to expand production capacity for laser annealing systems through a new facility [19] - The company aims to maintain resiliency and flexibility across operations while executing on near-term transformation objectives [66] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about growth opportunities in 2021, driven by semiconductor, 5G, and data center demand [18] - The company expects revenue for 2021 to be in the range of $520 million to $540 million, with non-GAAP EPS targeted between $1 and $1.20 [46] - Management noted that while gross margins may vary, Q1 2021 is expected to be the low point for the year [90] Other Important Information - The company ended 2020 with a backlog of $366 million, with significant contributions from Data Storage and Semiconductor markets [34] - Cash and short-term investments at the end of Q4 2020 were $320 million, a sequential increase of $10 million [39] - The company is increasing R&D investments while expecting operating expenses as a percentage of revenue to decrease over the year [134] Q&A Session Summary Question: Insights on laser spike anneal business and future applications - Management highlighted that laser annealing is driving business growth in 2021, with opportunities for additional applications as technology advances [72] Question: Working capital management and supply chain status - Management confirmed effective management of working capital despite increased demand, with no significant supply chain impacts noted [76] Question: Impact of legacy MOCVD on revenue and margins - Legacy MOCVD contributed about $10 million in Q4 at very low gross margin, with expectations for a mix impact on Q1 gross margins [84] Question: Data Storage segment performance and outlook - Management indicated that fluctuations in Data Storage revenue are typical due to the high ASP of tools, with expectations for increased shipments in Q2 and Q3 [100] Question: Backlog characteristics and revenue growth potential - Management characterized the backlog as front-end loaded, with significant contributions expected from laser annealing and 5G RF segments [128]

MAKING A MATERIAL DIFFERENCE Investor Presentation January 2021 Safe Harbor 2 This presentation contains "forward-looking statements", within the meaning of the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995, as amended, that are based on management's expectations, estimates, projections and assumptions. Words such as "expects," "anticipates," "plans," "believes," "scheduled," "estimates" and variations of these words and similar expressions are intended to identify forw ...