Ttm Technologies, Inc. · NASDAQ:TTMI
Ttm Technologies — JP Morgan 33rd Annual Technology Conference 2005
32 slides from Ttm Technologies's conference presentation, May 17, 2005
Slide 1: JP Morgan 33rd Annual Technology Conference
a ” eT © TT™M Technologies JP Morgan 33™ Annual Technology Conference May 17, 2005
Slide 2: Safe Harbor Provision
Safe Harbor Provision TIM Technologies During the course of this presentation, we will make projections or other forward- looking statements regarding future events or the future financial performance of the Company. We wish to caution you that such statements reflect only our current expectations,
Slide 3: Kent Alder, President and Chief Executive Officer
Kent Alder President and Chief Executive Officer
Slide 4: Company Overview
Company Overview TIM Technologies TTMis a leading provider of time-critical and technologically complex printed circuit boards to the world’s leading electronic equipment designers and manufacturers “Pure Play” printed circuit board (PCB) manufacturer + Focused on time (24 hrs to 10 days) & technolo
Slide 5: Investment Highlights
Investment Highlights Focused Strategy & + Leader in most attractive PCB segments — time & technology Leading Market Position + Missionfocused facilities — speed, flexibility and technology + Strong relationships with leading OEM and EMS customers Demonstrated + Proven ability to integrate acquisiti
Slide 6: Attractiveness of Time & Technology Strategy
Attractiveness of Time & Technology Strategy + Early access to new customers with high-growth potential Growth + Key supplier to high-growth programs within market leaders + Critical service for new product introduction across multiple industries + Difficult business model to replicate Limited Compe
Slide 7: Industry Overview
Industry Overview
Slide 8: Industry Dynamics and Key Success Factors
Industry Bynamics and Key Success Factors Tim Technologies Current Industry Dynamics Key Success Factors + Continued outlook for relatively + Capacity in place for complex products stable industry conditions and short lead times + High volume, low-mix, low- + Focus on quick-turn, high-mix and techno
Slide 9: PCB Competitive Landscape
PCB Competitive Landscape [J Asian focus [1 competitive markets High (> 1,000) 7 Pcs * Cellphones * Limited product + Computer + Advanced PDAS application peripherals + Power supplies z + Automative 4 + Consumer os electronics 2 = Pes Lowendseres |* High-endservers E + Computer + High-end computers
Slide 10: North American PCB Market Overview
North American PCB Market Overview Tim Technologies * $5.7 billion North American PCB market in 2004 © Total number of PCB manufacturers has been reduced by approximately 50% » 950 companies in 1992 to fewer than 500 in 2004 * 30-40% of PCB capacity has been removed since 2000 peak * Only7 PCB fabri
Slide 11: TTM's Strategy
TTM’s Strategy
Slide 12: TTM's Strategy
-TTM’s Strategy Customers / End Markets + Diverse base of industry leading customers + Early access to emerging customers and niche enc-markets + Glabal sales reach Technology Time + High performance, technologically camplex PCBS Industry Leading Execution and + Dedicated ultra-short lead time Finan
Slide 13: Technology (Layer Count)
Technology (Layer Count) ry High-Mix / Prototypes || Low Volume & Prototypes 30 y Chippewa Falls Santa Ana 20 10 Leading Edge Technology oO 5 10 15 20 Time (Lead Time in Days) Mission-Focused Facilities - Speed, Flexibility and Technology 13
Slide 14: Value-Added Pricing
} Value-Added Pricing 5x 4x 3x 2x 1x ox Price by Delivery Time Quick-Turn Revenue (10 days or less) > ~20% 2004 & ~21% 1Q 2005 24Hours 3Days S5Days 10Days 1120 Standard- Days _ Delivery Time (Lead Time) 14
Slide 15: Revenue By Layer Count
Revenue By | ayer Count TIM Technologies Percentage of Revenue 69% 68% 63% Avg. Layer Count 1Q 2005 = 16.1 ‘20% 39%, A1% 2000= 83 30% 9, b 28% 28% EA 29%) 2% 15% 28% 26% 26% 1999 2000 2001 2002 2003 2004 = 19.2005 12-18 Layers Dl => 20 Layers Continuing to Upgrade Technological Capabilities 15
Slide 16: Global Sales Reach
Global:Sales Reach Tim Technologies TTM Shipments by Geography Technical —_ Inventory 1Q 2005 Sales Support Hub Europe 3 1 1 Asia & ROW 5 1 2 North America 70% 83 "4 4 Total 91 13 7 16
Slide 17: Customer Concentration
Customer Concentration Percentage of Revenue 68% 0, %, 65% 62% 4% em ood 104, 119 8 51% sy 439 42% 0% pt 58% 49%) a 38% 1999* 2000 2001 2002 2003 2004 1Q 2005 H@ TopS customers [1 Customers 6 to 10 increased Exposure to End Market Leaders "Pro forma forthe acquisition of Power Cita, which oocutred i
Slide 18: Revenue Chain 2005 - % of total production revenues
-Reyenue Chain 19 2005 - % of total production revenues End Markets Customers Channel 3) Top OEM EMS Customers Providers - 70% ee Bencht rk. High-End cisco ; pena Compu + General Electric elestica + Hewlett-Packard Jabil + IBM Plexus + Juniper Solectron Others 26' = a = £ 2 i 3 5 8 & 8 io 5 3 Shippe
Slide 19: Key Customers by End Market
Key Customers by ; End Market TimTechnologies Percentage of Revenue by End Market — 1Q 2005 Networking & ts 5 ro Communications 49% RRM Ge Juniper Emu‘ 6 Eg ov: NEC High-End Computing 26% A) So sun Industrial & EELS Aine, Medical 14% S927 & Computer aficron Sinvivia ‘i 5% a Peripherals SMU ww Handhe
Slide 20: Compelling Growth Opportunities
Compelling Growth Opportunities One-stop manufacturing solution with numerous cross-selling opportunities Quick-turn capabilities for attracting emerging high-growth customers Leadership in technology and advanced manufacturing processes Capacity available through low risk, low cost expansion plan S
Slide 21: Stacey Peterson, Chief Financial Officer
Stacey Peterson Chief Financial Officer 241
Slide 22: Annual Sales
Annual Sales Sales ($mm) ‘Advanced Creuits Acquistion (12726102) Power Circuits Acquistion (7/14/99) 40. | 180. 3203. 129.1 106. 78. 89. 1998 1999 2000 2001 2002 2003 2004 22
Slide 23: Quarterly Sales
Quarterly Sales Sales ($mm) 61.6) a2. 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 2003 2004 2005 23
Slide 24: Annual EBITDA and EBITDA Margin
Annual EBITDA* and EBITDA* Margin $80 40% $60 Power Creuits 208 é Aequetion (1272602) = : L 2 & $40 20% E A = = rr fr 46.3 oa $20 10% $33.0 21.1 16.8 4 Bros] $0 0% 1998 1999 2000 2001 2002 2003 2004 * Please see Appendictor EBITDA recondilaton. EBITDA means earings before interest expense (including
Slide 25: Quarterly EBITDA and EBITDA Margin
Quarterly EBITDA* and EBITDA* Margin $14 ri 25% $12 I 1 = 20% sto ] g ° 4 A & $8 15% = a 13. 14 é BS 6 12: : 5 a 11 o 9.9 7g |‘ $4 6.2 a a 3.1 1.8 $0 0% 10 20 30 40 1020 3a 4a 10 2003 2004 2005 * Please see Appendictor EBITDA reconciation. EBITDA means eamings before interest expense (Induding amort
Slide 26: Quarterly Results and Estimates
Quarterly Results and Estimates (8mm, except per share data) 2004 2005 1Q 2Q 3Q 4Q 1Q 2QE Sales $877 $61.6 $62.2 $59.2 $58.9 $58.0-$61.0 Gross Profit 173 19.1 176 146 135 % Margin 30% 31% 28% 25% 23% Operating Income” 10.7 11.4 12.1 89 75 GAAP Diluted EPS $0.15 $0.17 $0.19 $0.16 $0.11 $0.10-$0.12 Op
Slide 27: Capitalization
‘Capitalization | 12181103 12131104 04/04/05 Cash & ST Investments $317 $58.5 $61.9 Net Cash 23.9 58.5 61.9 Total Shareholders’ Equity 178.3 2116 217.1 Total Capitalization 186.1 2116 217.1 Well-Capitalized for Future Growth a7
Slide 28: Conclusion
Conclusion Solid industry fundamentals Focused strategy and strong market position Demonstrated execution excellence Industry leading financial performance 28
Slide 29: TTM Technologies
“7 M Technologies
Slide 30: Appendix
Appendix Appendix 30
Slide 31: Annual EBITDA Reconciliation
Afinual EBITDA Reconciliation Het Income (los ‘Add back items: Income taxes Interest expense jon of debt issuance costs ion of property, plant, and equipment Amortization of intangibles Total Add back items EBITDA 1998 1999 2000 2001 200220032004 $24 $0.2) $28.1 1.0 BST 828.3 : z 6.0) 62 2338 13.2 0
Slide 32: Searchable text section of graphics shown above
Searchable text section of graphics shown above [ GRA PHIC] TTM Technologies, Inc JP Morgan 33rd Annual Technology Conference May 17, 2005 [GRAPHIC] Safe Harbor Provision [LOGO] During the course of this presentation, we will make projections or other forward-looking statements regarding future even
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