Slide 1: AEM FY2025 Results
AEM FY2025 Results Positioned at the Intersection of AI/HPC Growth & Advanced Test AE M | 25 F e b ru ar y 2026 | Inves to r U p da t e
Slide 2: Disclaimer
Disclaimer This is a presentation of general information relating of financing. Accordingly, such statements are not and to the current activities of AEM Holdings Ltd. (“AEM”). should not be construed as a representation as to the It is given in summary form and does not purport to future of AEM, an
Slide 3: FY2025 Key Highlights
FY2025 Key Highlights Revenue • FY2025 delivered revenue growth, margin expansion, and improved cash generation S$399.3M +5% vs FY2024 • Strong ramp from AI/HPC customers drove Test Cell Solutions growth Profit Before Tax (PBT) • Balance sheet strengthened with increased operating +52% vs FY2024 S$2
Slide 4: Investment Thesis
Investment Thesis 4 Earnings Leverage Increased scale drives improved operating leverage & cash generation 3 AEM Differentiation Innovating high parallel test solutions 2 that deliver cost-efficient, leading-edge Test Complexity capabilities to address test needs. Increasing AI/HPC device complexity
Slide 5: Market Tailwinds: Agentic AI Driving AI/HPC and CPU Demand
Market Tailwinds: Agentic AI Driving AI/HPC and CPU Demand Global Data Center CPU Market 2025 vs 2033 (US$B) 30 x86 Devices: ~75-85% Market Share 25 20 Source: AMD 15 Source: Intel ARM Devices: ~15-25% Market Share 10 5 0 2025 2033 Source: Coherent Market Insights Source: AWS AE M | 25 F e b ru ar y
Slide 6: Market Tailwinds: Accelerating AI/HPC Complexity Increasing Test Intensity
Market Tailwinds: Accelerating AI/HPC Complexity Increasing Test Intensity Chiplet Count Increasing Power Delivery / Removal Challenges Single Chip Multi Chip Multi Chiplet Design Module System >100 chiplets and IP zones per package CoT* Increasing – Longer Test Times, More Insertions Capacity & Fac
Slide 7: Market Tailwinds: Test Challenges Driving Increased Content per AEM System
Market Tailwinds: Test Challenges Driving Increased Content per AEM System • Test complexity and decreased test coverage from Final Test is driving a significant portion of test content from Final Test into alternative test insertions throughout the manufacturing process → AEM’s high-parallel test s
Slide 8: Test 1.5 Upgrades Test 2.0 Platforms
AEM’s “Follow the Chiplet” ethos enables the Group’s ”razor / razorblade” model while driving its ”land & expand” strategy Package Test: Shift test content to optimize for coverage and COT Test 1.5 Upgrades TAU TBU Configurable Test Slot Thermal Socket Layout Kit SLT Thermal Engine Test 2.0 Platform
Slide 9: FY2025 Key Financial Highlights
FY2025 Key Financial Highlights Revenue Gross Profit +5% vs FY2024 S$399.3M +5% vs FY2024 S$102.5M Flat pt vs FY2024 25.7% of Revenue Profit Before Tax (PBT) Operating Cashflow S$21.3M +52% vs FY2024 +1.6pts vs FY2024 +S$133.6M +S$151.2M vs FY2024 5.3% of Revenue AE M | 25 F e b ru ar y 2026 | Inves
Slide 10: Revenue Mix: FY2025 vs. FY2024
Revenue Mix: FY2025 vs. FY2024 TCS revenue came in at S$251.4M, contributing to 63% of revenue in FY2025, driven primarily by equipment sales Total Revenue Mix (S$M) Test Cell Solutions Revenue Mix (S$M) 399.3 380.4 251.4 231.0 48.8 19% 139.5 35% 141.4 37% 52.6 23% 8.4 2% 8.0 2% 83.5 33% 73.3 32% 25
Slide 11: Balance Sheet
Balance Sheet A robust balance sheet with low debt As at • As at end-December 2025, net assets were valued at S$499.3M, up from end-December 2024, contributed Dec. ’25 Dec. ‘24 Change mainly by net profit for the period, partially offset by foreign exchange loss in translation of USD- S$M S$M % deno
Slide 12: Significantly Stronger Cash Position YoY, Positive Free Cash Flow S$112.1M
Significantly Stronger Cash Position YoY, Positive Free Cash Flow S$112.1M Operating Cash Flow +S$133.6M applied to loan repayments and share re-purchase FY2025 FY2024 Key points: Beginning Cash 43.8 101.8 Positive Free Cash flow* of S$112.1M generated in FY25: Profit after tax 17.1 11.6 Operating A
Slide 13: Thank You
Thank You Investor Relations Contact Samir MOWLA samir.mowla@aem.com.sg Financial PR Pte Ltd Kamal SAMUEL / Rishika TIWARI / LIM En Tong Tel: 6438 2990 / Fax: 6438 0064 kamal@financialpr.com.sg rishika@financialpr.com.sg AE M | 25 F e b ru ar y 2026 | Inves to r U p da t e entong@financialpr.com.sg