Slide 1: Axcelis Technologies Presentation to ISS/RiskMetrics
1 Oct 2007 Axcelis Technologies Presentation to ISS/Risk Metrics April 14, 2008
Slide 2: Agenda
2 Oct 2007 Agenda Background on Axcelis, Sumitomo Heavy Industries, Ltd. (“SHI”) and SEN Corporation, an SHI and Axcelis Company Board Response and Public Communications Regarding Unsolicited Proposals made by SHI Axcelis’ Efforts to Engage with SHI Next Steps for Shareholder Communications
Slide 3: Corporate Profile
3 Oct 2007 Corporate Profile Global supplier of semiconductor processing equipment and related services, primarily: • Ion Implantation • Cleaning/Dry Strip 2007 revenue of approximately $400M with 1600 employees worldwide Public company listed on the Nasdaq Global Select Market (ACLS)
Slide 4: Axcelis' Global Presence
4 Oct 2007 Axcelis’ Global Presence Axcelis has over 50 field offices in 16 countries Axcelis World Headquarters and Advanced Technology Center Beverly, MA. SEN Corporation, an SHI and Axcelis Company Saijo, Japan •Since 1984, Axcelis has licensed a 50% owned subsidiary, SEN, to make and sell specif
Slide 5: Timeline of SHI proposal and Board response (1)
5 Oct 2007 Board Response and Public Communications Regarding Unsolicited Proposals made by SHI (1) February 4, 2008: In a private letter to the Axcelis Board, SHI made a proposal to acquire the outstanding common stock of Axcelis for $5.20. February 6, 2008: The Axcelis Board held a regularly sched
Slide 6: Timeline of SHI proposal and Board response (2)
6 Oct 2007 Board Response and Public Communications Regarding Unsolicited Proposals made by SHI (2) February 11, 2008: • SHI issued a press release with a new letter reiterating the $5.20 proposal. • Axcelis issued a press release stating that its Board is considering the SHI proposal and, following
Slide 7: Timeline of SHI proposal and Board response (3)
7 Oct 2007 Board Response and Public Communications Associated with Unsolicited Proposals made by SHI (3) February 25, 2008: • Axcelis issued a press release reporting on the Board’s determination on SHI’s $5.20 proposal. • SHI issued a press release expressing their disappointment and reporting on
Slide 8: Timeline of SHI proposal and Board response (4)
8 Oct 2007 Board Response and Public Communications Associated with Unsolicited Proposals made by SHI (4) March 10, 2008: • SHI issued a press release and a new letter increasing its proposal to acquire the outstanding common stock of Axcelis to $6.00, stating that SHI does not intend to increase it
Slide 9: Timeline of SHI proposal and Board response (5)
9 Oct 2007 Board Response and Public Communications Associated with Unsolicited Proposals made by SHI (5) March 17, 2008: Axcelis issued a press release reporting on the Board’s determination with respect to SHI’s $6.00 proposal. The press release provided a relatively detailed explanation of key fa
Slide 10: Axcelis' Efforts to Engage with SHI (1)
10 Oct 2007 Axcelis’ Efforts to Engage with SHI (1) Promptly thereafter, Axcelis began efforts to engage in discussions with SHI. Axcelis believes that in order to engage in productive discussions, both parties must agree to keep the discussion confidential. In addition, Axcelis does not believe it
Slide 11: Axcelis' Efforts to Engage with SHI (2)
11 Oct 2007 Axcelis’ Efforts to Engage with SHI (2) Axcelis’ counsel has had several conversations with SHI’s counsel with respect to the proposed confidentiality agreement and has offered compromises, including shortening the time period on the standstill. To date, however, SHI has been unwilling t
Slide 12: Further Shareholder Communication
12 Oct 2007 Further Shareholder Communication Today, Axcelis issued a letter to shareholders providing an update on Axcelis’ effort to engage with SHI and explaining Axcelis’ position. The letter has been filed on a Form 8-K and as additional definitive proxy material. Axcelis management will reach