Entegris, Inc. · NASDAQ:ENTG
Entegris — Merger or Acquisition (December 2021)
19 slides from Entegris's merger presentation, Dec 15, 2021
Slide 1: Entegris, Inc. Form 8-K cover page
Entegris, Inc. (Exact name of registrant as specified in its charter) Delaware (State or other jurisdiction of incorporation) 001-32598 41-1941551 (Commission File Number) (I.R.S. Employer Identification No.) 129 Concord Road, Billerica, MA 01821 (Address of principal executive offices) (Zip Code) R
Slide 2: Entegris
C Entegris
Slide 3: Entegris to Acquire CMC Materials to Create a Leader in Electronic Materials
Entegris to Acquire CMC Materials to Create a Leader in Electronic Materials Adds Leading CMP Products and Technology to Entegris’ World-Class Solutions Set, Creating a Comprehensive Electronic Materials Platform Highly Complementary Combined Portfolio Expands Served Markets and Content per Wafer Op
Slide 4: Entegris to Acquire CMC Materials
Entegris to Acquire CMC Materials Creates a Leader in Electronic Materials December 15, 2021
Slide 5: Legal Disclosures
Legal Disclosures Thi buy or sell or ‘an offer to buy or sell any securities or a solicitation of any vote or approval. This communication relates to a proposed business combination between Entegrs, Inc. (“Entegris”) and CMC Materials, Ine ("CMC") In connection withthe preposed transaction, Entegris
Slide 6: Compelling Benefits of the Transaction
Compelling Benefits of the Transaction - . y 4 Adds critical and highly 5 Strong and resilient combined LS complementary semiconductor i i it- a 8 Pp ry business with pro forma 80% unit: Qaiw =: materials to Entegris’ core platforms driven revenue Faster time-to-solution in CMP’ and ee — Opportunity
Slide 7: Transaction Overview
Transaction Overview Transaction Consideration Financial Impact Capital Structure Closing Considerations Entegris to acquire CMC Materials in a cash and stock transaction CMC Materials shareholders will receive $133.00 in cash and 0.4506 shares of Entegris common stock for each share of CMC Material
Slide 8: CMC Materials at a Glance
CMC Materials at a Glance A Founded 0 (Global) ale ah "2000 J 2,000+ Revenue % CMP Growth") sf (LIM) Ze (LT™) ‘ $1.2Bn 13% A Leading Semiconductor Platform... & Coating Technologies CMP Slurries Industrial Performance Materials Materials Technologies 1% 82% 0) 95 %o+ Electronic Unit Driven Materials
Slide 9: Broadens Technology Depth and Capabilities
Broadens Technology Depth and Capabilities Enhanced Portfolio Expanding Our Served Semiconductor Market from $7Bn to *$12Bn 2023 SAM by Division/Application Entegris Pro Forma Entegris $2.0B $11.78 $2.68 [ $7.18 Unit Driven Unit Driven aie 1@): fa} ape i Entegris CMP. Electronic Chemicals Pro Forma
Slide 10: The Roadmaps Play to Our Unique Capabilities
The Roadmaps Play to Our Unique Capabilities The CMP challenges our customers are facing Ih New Materials More complex structures Challenging yield ramps Elements Used in Today’s Advanced Devices ~4,5 times those used in the 1990s @ |] ®oee8 Our Integrated CMP Solution will Deliver: ¢ Faster adoptio
Slide 11: Enabling the CMP Ecosystem
Enabling the CMP Ecosystem Faster Time to Co-Optimized Solutions and Defect Reduction (Pre-CMP) CMP Process Thin Film Deposition Modo oar Slurry Filter Liquid Filter e@ @ Precursor GY x } + e e Cartier [ — Gleening 1 1 y Slurry [MieteKetitchicn Chemical Retaining Ring —> An 8 PVA Brush ° Wafer Wafer
Slide 12: Enhances Customer-Centric Innovation
Enhances Customer-Centric Innovation Anew hard-to- solve process problemi Our customer shares ‘dentified information tohelp us understand their challenge We attain We formulate a process ofrecord hypothesis and (POR) status We quickly ask for feedback develop We strengthen ‘our relationship through
Slide 13: Unlocks Significant Value Creation From Synergies
Unlocks Significant Value Creation From Synergies Annualized Cost Synergies Other Synergies Co-optimized CMP solutions s for Entegris manufactured products ind procurement s gS . . a Cross-selling opportunities OPERATING EXPENSES Stronger customer NPD? & collaboration ement expen: rc: P Applications
Slide 14: Proven Integration and Execution Strategy
Proven Integration and Execution Strategy @ Planning underway Post-closing immediate steps A Key elements to On A integration plan Integration strategy and key metrics Integration goals and objectives Culture diagnostics and shaping Synergies finalized and action plans developed Talent management an
Slide 15: Strong Financial Profile at Scale
Strong Financial Profile at Scale LTM Metrics as of 9/30/2021 Revenue Adj. EBITDA $1,200 $3,381 $2,181 CMC Materials Pro Forma Entegris Entegris B Source: Company Filings $1,081 $358 $648 Entegris CMC Materials. Cost Synergies Pro Forma w/ Synergies % Margin: 30% 30% r 32% Enters
Slide 16: Commitment to Disciplined Deleveraging Over time
Commitment to Disciplined Deleveraging Over time Capital Structure and Allocation Policy = Target gross leverage ratio at closing ~4.0x with goal to rapidly deleverage to <3.0x = Committed to BB rating profile and disciplined deleveraging over time * Maintaining quarterly dividend to Entegris’ share
Slide 17: Delivering Significant Value for All Stakeholders
Delivering Significant Value for All Stakeholders = Global manufacturing and lab infrastructure = End-to-end product portfolio QQe Customers = Unwavering commitment to innovation = Expanded technical capabilities = Faster time-to-solution = Commitment to continuous professional development = Attract
Slide 18: A Compelling Growth Platform
A Compelling Growth Platform “$3.4Bn PRO FORMA LTM REVENUE R~ ~ 1% 80% PRO FORMA Unit-driven Revenue Cc *°1.1Bn “32% PRO FORMA PRO FORMA LTM LTM ADJ. EBITDA ADJ. EBITDA MARGIN mI 7EF a es °200MM+ S75MM + S40MM PRO FORMA LTM COST + CAPEX R&D SPEND SYNERGIES oo
Slide 19: c . Lan > «
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