Mks Inc. · NASDAQ:MKSI
Mks — Debt Investor Presentation (January 2026)
51 slides from Mks's debt investor presentation, Jan 21, 2026
Slide 1: MKS Inc. TLB Lender Presentation January 2026
Exhibit 99.1 MKS Inc. TLB Lender Presentation January 2026 MKS Confidential
Slide 2: Safe Harbor for Forward-Looking Statements
Safe Harbor for Forward-Looking Statements This presentation contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, including regarding the tra
Slide 3: Notes on Presentation
Notes on Presentation Use of Non-GAAP Financial Measures This presentation includes financial measures that are not in accordance with U.S. generally accepted accounting principles (“Non-GAAP financial measures”), including adjusted EBITDA, credit agreement adjusted EBITDA, Non- GAAP earnings per di
Slide 4: Transaction Summary
Transaction Summary
Slide 5: Transaction Overview
Transaction Overview • MKS delivers foundational technology solutions to leading edge semiconductor manufacturing, electronics and packaging, and specialty industrial applications • $3,832M LTM Q3 2025 Revenue 1 • $1,016M LTM Q3 2025 Credit Agreement Adjusted EBITDA 2 2 • MKS is seeking to Amend & E
Slide 6: Sources & Uses and As Adjusted Capitalization
Sources & Uses and As Adjusted Capitalization Sources ($M) Uses ($M) New Amend & Extend Term Loan B (USD) $914 Paydown existing Term Loan B (USD) $1,274 New Amend & Extend Term Loan B (EUR) 689 Amend & Extend existing Term Loan B (USD) 914 New EUR Other Unsecured Debt 1,174 Amend & Extend existing T
Slide 7: Summary of Proposed Terms
Summary of Proposed Terms Borrower MKS Inc. Borrower’s direct and indirect domestic material subsidiaries, subject to exceptions usual and customary for transactions of this type Guarantors (same as existing) ⚫ Perfected first lien priority security interest on substantially all assets of the Borrow
Slide 8: Management Presentation
Management Presentation eemks
Slide 9: Today's Presenters
Today’s Presenters John T. C. Lee Ram Mayampurath President & Executive Vice President & Chief Executive Officer Chief Financial Officer MKS Confidential 9
Slide 10: MKS Overview
y Ny @ MKS Overview eemks
Slide 11: Guiding Principles
Guiding Principles WIN OWN It! as a Team GROW Enabling Sustainable & Profitable Growth INNOVATION is a Core Capability MKS Confidential 11
Slide 12: MKS is a Technology-Driven Secular Growth Company
MKS is a Technology-Driven Secular Growth Company Foundational Leveraging powerful Attractive growth technology leader secular trends profile Specializing in precision Miniaturization, Positioned for strong cash solutions for diverse complexity and chemistry generation, with track end markets drive
Slide 13: Our Foundational Technology Leadership
Our Foundational Technology Leadership $3.8B $287M $953M ~1,900 LTM Q3’25 LTM Q3’25 LTM Q3’25 ENGINEERS & 1 2 REVENUE R&D INVESTMENT ADJUSTED EBITDA SCIENTISTS 19 >85% ~70% ~3,200 OF WAFER FABRICATION OF CRITICAL STEPS TO LEADING POSITIONS IN PATENTS EQUIPMENT APPLICATIONS MANUFACTURE PACKAGE 3 2 PR
Slide 14: 2025 YoY Growth in Key Financial Metrics
2025 YoY Growth in Key Financial Metrics 1 1 Revenue Non-GAAP Earnings per Diluted Share Free Cash Flow 3,900 8.00 550 35% 23% 3,800 8% 7.00 500 3,700 6.00 450 3,600 5.00 400 3,500 4.00 350 3,400 3,300 3.00 300 Twelve Months Twelve Months Twelve Months Twelve Months Twelve Months Twelve Months Ended
Slide 15: MKS is Foundational to Our Connected World
MKS is Foundational to Our Connected World Data Center Smartphones Smart Industrial Wearables IoT Medical Artificial Auto / AV / EV Intelligence AR / VR Renewable Energy Worldwide Electronics Revenues are Expected to Grow at a CAGR 1 of 6% from 2025 to 2030, Exceeding $3.5T by 2030 1 TechInsights Wo
Slide 16: Our Markets & Opportunity
Our Markets & Opportunity eemks
Slide 17: Advanced Electronics Driving Secular Semi Demand and WFE
Advanced Electronics Is Driving Significant Secular Semi Demand And Wafer Fab Equipment (WFE) 2 $1.2 Trillion Revenue projected by 2030 to support EV, AR/VR, IoT, 5-Year Moving Average of WFE cloud computing $1,200 1 Annual WFE Spending Vertical Scaling $1,000 — EUV — $800 Atomic Layer Processing $6
Slide 18: Lines Are Blurring as Complexity Increases
Lines Are Blurring as Complexity Increases MKS is Positioned to Help Enable the Future of Next-Generation Devices Advanced PCBs Advanced Packaging Package Wafer-Level Substrates Packaging Semiconductors (Chips) COMPLEXITY MKS Confidential 18 Smaller Larger FEATURE SIZE 10 to 100 microns Low single-d
Slide 19: Significant Serviceable Addressable Market Expansion
s r o t c u d % n 1 o 5 c i m e S E l e P c a t c 2 r k 0 o a n g % i i c n s g & Significant Serviceable Addressable Market (SAM) Expansion 1 1 SAM in 2015 SAM in 2024 $25B ~$6B Non- Semiconductors 25% Semiconductors 75% 1 Internal Company estimates MKS Confidential 19 l a i r t s u d n % I 9 y 2 t
Slide 20: Levered to Attractive End Markets
Levered to Attractive End Markets 1 Technology Leadership and Differentiation Position MKS for Strong Performance in $25B SAM Semiconductor Electronics & Packaging Specialty Industrial (42% of FY2024 Revenue) (32% of FY2024 Revenue) (26% of FY2024 Revenue) Critical solutions provider for Foundationa
Slide 21: Semiconductor: MKS is a Market Leader
Semiconductor: MKS is a Market Leader Across a Broad Array of Semiconductor Manufacturing Applications Key Attributes Long design cycles, significant follow-on revenue, strong/deep customer relationships 1 Critical Applications Leadership Position Deposition & Etch Pressure Sensing & Control Tool, S
Slide 22: Electronics and Packaging: Enabling Next Generation Devices
Electronics and Packaging: Enabling Next Generation Devices Key Attributes Long design cycles, increased precision, tighter integration between chemistry solutions and laser processing 1 Critical Applications Leadership Position Electronics Chemistries & Plating UV Nanosecond Pulsed Lasers Horizonta
Slide 23: Specialty Industrial: Harnessing Core Expertise Across Markets
Specialty Industrial: Harnessing Core Expertise Across Markets Key Attributes Differentiated technologies that solve specific needs for customers across broad end markets 1 Critical Applications Leadership Position Industrial• Functional coatings for corrosion and Laser Measurement Instruments • Vac
Slide 24: Built to Capitalize on Secular Trends
Built to Capitalize on Secular Trends Electronics & Packaging Semiconductor Deposition, Etch, Laser-Based Lithography, Manufacturing; Inspection / Metrology, Next-Gen Interconnect Wet Processing Smaller Geometries (nm) Finer Features (µm) MINIATURIZATION Vertical Scaling COMPLEXITY More Layers Novel
Slide 25: Enabling the Core Building Blocks of Advanced Electronic Devices
Enabling the Core Building Blocks of Advanced Electronic Devices High Performance Semiconductor Electronics & Packaging Compute Architecture SEMICONDUCTOR Critical subsystems for Subsystems, equipment & materials semiconductor manufacturing for electronics & packaging INTERPOSER PACKAGE SUBSTRATE Le
Slide 26: Positioned to Address Major Process Inflections in the AI Era
Positioned to Address Major Process Inflections in the AI Era Applying Broad Expertise to Enable Faster Processing Speeds Vertical Scaling Horizontal Shrink Advanced Packaging INFLECTION MKS Photonics solutions (Optics, MKS RF Power, Vacuum and Optical MKS Vacuum, Photonics and Motion) and broad Vac
Slide 27: Strategy & Business Drivers
3 Strategy & Business Drivers
Slide 28: Our Unique DNA is What Makes MKS Successful
Our Unique DNA is What Makes MKS Successful Broad Domain & Vacuum Photonics Materials Process Expertise Deep & Collaborative Develop Solve Identify Integrated Complex Customer & Ecosystem Inflection Points Design Cycles Problems Relationships Cross-selling to Accelerating Time Innovating New New & E
Slide 29: Our Surround Strategy is How We Execute
g n i s s e c o r P y t y r e S r t t u s B W s i r e i f m a a m e c m e h e h C S & C C t M l I g e n e e g h e s t n a r c n p r i o t e i t i n l S S c t E n a i S o t a i l n g g E E o l E P g y n P S S S S S S T S S T T C S C C U E E U U E D Our “Surround” Strategy is How We Execute SEMICONDUC
Slide 30: Key Enabler for the Majority of Semiconductor Process Steps
MKS is a Key Enabler for the Majority of Semiconductor Process Steps DEPOSITION ETCH WET PROCESSING Pressure & Vacuum Measurement Pressure & Vacuum Measurement Reactive Gases Gas Delivery & Pressure Control Gas Delivery & Pressure Control Plasma & Reactive Gas Plasma & Reactive Gas RF Power RF Power
Slide 31: Package Substrate: Key Building Block of Advanced Packaging
Package Substrate: Key Building Block of Advanced Packaging Embedded Multi-Die Chip-on-Wafer-on-Substrate Elevated Fanout Bridge Interconnect Bridge 1 (CoWoS®) (EFB) 2 (EMIB) CHIP CHIP “C” CHIP CHIP SILICON INTERPOSER “W” CHIP CHIP SILICON BRIDGE MOLDING & RDL SILICON BRIDGE PACKAGE SUBSTRATE “S” PA
Slide 32: Mission Critical Supplier Across the Advanced Electronics Supply Chain
Mission Critical Supplier Across the Entire Advanced Electronics Supply Chain Semiconductor Electronics & Packaging Critical Subsystems Critical Subsystems MKS VACUUM & PHOTONICS MKS PHOTONICS SOLUTIONS SOLUTIONS Capital Equipment Chemistry MKS LASER DRILLING & MKS PROPRIETARY CHEMISTRY PLATING EQUI
Slide 33: Financial Profile
4 Financial Profile
Slide 34: Evolution into a Broad Foundational Technology Provider
Evolution into a Broad Foundational Technology Provider Significantly Expanded Financial and Operational Scale to Drive Growth Across a Broader Array of End Markets 2015 LTM Q3'2025 REVENUE MIX REVENUE STREAM REVENUE STREAM REVENUE MIX Services Services Electronics 13% 14% & Packaging Non-Semi 28% 3
Slide 35: Capital Deployment Focused on Long-Term Value Creation
Capital Deployment Focused on Long-Term Value Creation Primary Use of Near-term Free Cash Flow is for De-levering 1 2 3 GROWTH ORGANIC DEBT RETURNING CASH TO & INORGANIC MANAGEMENT SHAREHOLDERS Strong organic investments Maximize long-term Accelerated debt paydown P&L and Capex shareholder value Exp
Slide 36: MKS Financial Policy
MKS Financial Policy PRINCIPLES GOALS ¡ ¡ Optimize access to capital markets Take actions to match credit market expectations • Maintain a strong BB credit profile • Deleverage balance sheet • Flexibility to access capital markets • Target net leverage at 2.0x ¡ Provide continued financial flexibili
Slide 37: Key Financial Profile
Key Financial Profile 1 2023 2024 LTM Q3’24 LTM Q3’25 $ in millions Revenue $3,622 $3,586 $3,544 $3,832 % growth - (1%) - 8% 2 Gross Profit $1,655 $1,708 $1,677 $1,799 % margin 45.7% 47.6% 47.3% 46.9% 2 Adj. EBITDA $863 $914 $895 $953 % margin 24% 25% 25% 25% 2 Free cash flow $232 $410 $432 $531 % r
Slide 38: Strong Margin Profile with Significant Operating Leverage
Strong Margin Profile with Significant Operating Leverage To Drive Outsized Earnings Growth Across Cycles Non-GAAP Gross Margin and Operating Margin Over Time TARGETED INCREMENTAL 1 1 Non-GAAP Gross Margin Non-GAAP Operating Margin REVENUE FALL 2 THROUGH 48% 48% 47% 47% 47% 47% 47% 47% 47% 47% 47% 4
Slide 39: Key As Adjusted Credit Metrics
Key As Adjusted Credit Metrics As of 09/30/25 1 $ in millions As Adjusted Cash & Cash Equivalents $484 Total Debt $4,177 2 LTM Q3’25 Credit Agreement Adj. EBITDA $1,016 2 Total Debt / LTM Q3’25 Credit Agreement Adj. EBITDA 4.1x Net Debt $3,693 2 Net Debt / LTM Q3’25 Credit Agreement Adj. EBITDA 3.6x
Slide 40: Updated Q4'2025 Guidance
1 Updated Q4’2025 Guidance Fourth Quarter 2025 Guidance Three Months Ended December 31, 2025 (In millions) Low Midpoint High Revenue $ 1,025 $ 1,030 $ 1,035 $ 103 $ 106 $ 109 GAAP net income $ 246 $ 248 $ 250 Adjusted EBITDA A reconciliation of the midpoint of the Company’s updated guidance for GAAP
Slide 41: Key Credit Highlights
Key Credit Highlights 1 1. Highly differentiated and foundational technologies address the demands and complexity of advanced electronics for the AI era ‒ Well positioned to benefit from growing miniaturization and complexity in electronics 2 2. Mission critical and embedded supplier, serving >85% o
Slide 42: Appendix
JASASAAS eemks
Slide 43: JASASAAS
JASASAAS eemks + ¢ $$OOOOR
Slide 44: GAAP to Non-GAAP Reconciliations
GAAP to Non- GAAP Reconciliations
Slide 45: Non-GAAP Reconciliations: Gross Margin and Operating Margin
Non-GAAP Reconciliations 1 Non-GAAP Gross Margin and Non-GAAP Operating Margin LTM LTM ($ million, except percentages) Q1'19 Q2'19 Q3'19 Q4'19 Q1'20 Q2'20 Q3'20 Q4'20 Q1'21 Q2'21 Q3'21 Q4'21 Q1'22 Q2'22 Q3'22 Q4'22 Q1'23 Q2'23 Q3'23 Q4'23 Q1'24 Q2’24 Q3’24 Q4’24 Q1’25 Q2’25 Q3’25 FY2023 FY2024 Q3’24
Slide 46: MKS Free Cash Flow Reconciliation
MKS Free Cash Flow Reconciliation (GAAP to Non-GAAP) (in millions) 2023 2024 LTM Q3’24 LTM Q3’25 Net cash provided by operating activities $319 $528 $532 $679 Less: Purchase of property, plant and 87 118 100 148 equipment Free Cash Flow $232 $410 $432 $531 Note: For additional information regarding
Slide 47: MKS Adj. EBITDA Reconciliation
MKS Adj. EBITDA Reconciliation (GAAP to Non-GAAP) (in millions) 2015 2023 2024 LTM Q3’24 LTM Q3’25 Net income (loss) $122 $(1,841) $190 $32 $278 Other expense, (income), net - 27 (2) 7 14 Interest (income), expense, net (3) 339 263 296 200 Provision (benefit) for income taxes 37 (87) (10) (10) 16 De
Slide 48: MKS Earnings per share Reconciliation
MKS Earnings per share Reconciliation (GAAP to Non-GAAP) (in millions, except per share data) LTM Q3’24 LTM Q3’25 Net income $32 $278 Acquisition and integration costs 9 3 Restructuring and other 13 26 Amortization of intangible assets 254 246 Goodwill and intangible asset impairments 75 - Loss on d
Slide 49: Appendix – GAAP to Non-GAAP Reconciliations
Appendix – GAAP to Non-GAAP Reconciliations Non-GAAP financial measures adjust GAAP financial measures for the items listed below. These Non-GAAP financial measures should be viewed in addition to, and not as a substitute for, MKS’ reported GAAP results, and may be different from Non-GAAP financial
Slide 50: Debt Reconciliations
Debt Reconciliations
Slide 51: Debt Reconciliations
Debt Reconciliations Uses of funds ($M) Sources of funds ($M) 1 Cash from Balance Sheet $113 $100M USD TLB Paydown $100 USD Term Loan B Q4-25 Amortization 10 2 EUR Term Loan B Q4-25 Amortization 3 Total Uses $113 Total Sources $113 As of 09/30/25 As of 09/30/25 As Adjusted for $100M USD TLB Paydown