Slide 1: Press conference ASML: Fourth-quarter & full-year results 2025
Press conference ASML Fourth-quarter & full-year results 2025 Christophe Fouquet – President and CEO Roger Dassen – Executive Vice President and CFO January 28, 2026 Live from the BIC Studio in the ASML Academy Brainport Industries Campus, Eindhoven, the Netherlands Different image - will follow
Slide 2: ASML reports €32.7 billion total net sales and €9.6 billion net income in 2025
ASML reports €32.7 billion total net sales and €9.6 billion net income in 2025 2026 total net sales expected to be between €34 billion and €39 billion ASML 2025 Fourth-Quarter and Full-Year results Eindhoven, the Netherlands January 28, 2026 January 28, 2026 Page 2
Slide 3: Forward looking statements
Forward looking statements This document and related discussions contain statements that are forward-looking within the meaning of the U.S. Private Securities Litigation Reform Act of 1995, including statements with respect to plans, strategies, expected trends, including expected trends in the semi
Slide 4: Welcome to the ASML Academy
Welcome to the ASML Academy 2,600 square meters for factory and customer support training • Opened in 2023, the Academy includes 7,000 square meters of advanced training spaces, including classrooms, grey areas, and cleanrooms • 2,600 square meters is dedicated to factory and customer support traini
Slide 5: • Industry Context and Our Progress in 2025 – Christophe Fouquet • Financials and
• Industry Context and Our Progress in 2025 – Christophe Fouquet • Financials and Outlook – Roger Dassen • Strengthening our focus on engineering and innovation – Christophe Fouquet • Questions and Answers January 28, 2026 Page 5
Slide 6: Industry Context and Our Progress in 2025
Industry Context and Our Progress in 2025 Christophe Fouquet President and CEO January 28, 2026 Page 6
Slide 7: We see our society going from chips everywhere to AI chips everywhere
We see our society going from chips everywhere to AI chips everywhere We will see AI penetrate all different segments of the semiconductor eco-system Social and economic shifts Automation Electrification, smart mobility Working, learning remotely Energy transition Healthcare, medical tech Hyperconne
Slide 8: AI has strong potential to drive the entire semiconductor industry forward
AI has strong potential to drive the entire semiconductor industry forward Semiconductor sales as % of global nominal GDP have steadily grown across the previous computing waves 0.8% PC Internet Smartphone AI Semiconductor sales as % of nominal GDP A A A A A 0.6% A A A A A A A 0.4% A A 0.2% Connecti
Slide 9: AI fueling the SEMI industry growth driven by computing and data generation
AI fueling the SEMI industry growth driven by computing and data generation Mainstream semi grows, in volume with data while high performance continues to challenge Moore's law SPECIALTY MEMORY Mainstream LOGIC 300 mm 200 mm 300 mm ANALOG Healthcare, medical tech Smarter use of POWER Working, limite
Slide 10: AI momentum creates opportunity and supports our ambition
AI momentum creates opportunity and supports our ambition Benefits of accelerating AI adoption and expansion evident at growing number of customers • Many of our customers have shared a notably more positive assessment of the medium-term Positive market situation, primarily based on more robust expe
Slide 11: AI will reshape semiconductor demand in this decade
AI will reshape semiconductor demand in this decade AI demand for compute density and high-bandwidth memory growing 2–3× faster than overall semiconductor sales AI memory Global semiconductor revenue: AI vs. Non AI AI compute INDEX 2021=100 TODAY Non AI memory CAGR ~7% CAGR ~6% Non AI compute 0 2021
Slide 12: Compute demand from AI accelerated since 2010, outpacing Moore's law
Compute demand from AI accelerated since 2010, outpacing Moore’s law Moore’s law alone is not sufficient to meet future training computing power requirements Most advanced AI products 16x/2years Transistors (log) Traditional Moore’s Law 2x/2years 2000 2005 2010 2015 2020 2025 2030 2035 2040 January
Slide 13: Compute demand from AI accelerated since 2010, outpacing Moore's law
Compute demand from AI accelerated since 2010, outpacing Moore’s law Volume and integrations of Si wafers increases rapidly to support most advanced AI chips 16x/2years Volume Transistors (log) 2x/2years 2D Scaling 2000 2005 2010 2015 2020 2025 2030 2035 2040 January 28, 2026 Sources: H.S.P Wong et.
Slide 14: Most advanced AI chips' appetite for silicon area is enormous and growing
Most advanced AI chips’ appetite for silicon area is enormous and growing Upcoming advanced NVIDIA systems require 4x more silicon within three years 2024 2027 NVIDIA Blackwell System NVIDIA Rubin Ultra System 2.5 wafers 10 wafers January 28, 2026 Source: NVIDIA Page 14
Slide 15: Compute demand from AI accelerated since 2010, outpacing Moore's law
Compute demand from AI accelerated since 2010, outpacing Moore’s law Moore’s law alone is not sufficient to meet future training computing power requirements 16x/2years Volume 5X Transistors (log) 2x/2years 2D Scaling 2000 2005 2010 2015 2020 2025 2030 2035 2040 January 28, 2026 Sources: H.S.P Wong
Slide 16: EUV supports AI chips manufacturing with record productivity
EUV supports AI chips manufacturing with record productivity Second generation High NA system now running at a customer site • EUV capacity has grown more than 25% year-on-year • We shipped a total of eight High NA systems to several in the last 5 years customers, and six are in operation including
Slide 17: DUV products are and will remain a workhorse of the industry
DUV products are and will remain a workhorse of the industry Our lithography technology will also benefit 3D integration, which ASML started to support with XT:260 • Our latest generation immersion system, the NXT:2150i, has been running high volume production at more than 300 wafers per hour, and s
Slide 18: Holistic Lithography focuses on improving accuracy and patterning yield
Holistic Lithography focuses on improving accuracy and patterning yield to maximize value for our customers • Our optical metrology and e-beam inspection business has grown by ~30% in 2025, stressing the increased need for those applications • We made significant progress on Multi e-beam wafer inspe
Slide 19: Goals of AI partnership between ASML and Mistral AI
Goals of AI partnership between ASML and Mistral AI Focus is on generating value to our customers by enhancing our product offering 1 Strengthen our core competence 2 Support connected markets R&D Product Mistral Le Efficiency Leadership Studio Chat Mistral AI Operations Enabling Mistral Mistral Eff
Slide 20: Continuing to work with partners for an attractive, inclusive Brainport region
Continuing to work with partners for an attractive, inclusive Brainport region Mobility Affordable housing Culture Education Beethoven infrastructure Beethoven housing New museum in Eindhoven Collaboration with TU/e ASML has agreed to invest in We agreed to contribute The Rijksmuseum, Eindhoven ASML
Slide 21: Expanding our footprint to serve our customers
Expanding our footprint to serve our customers Preparing for growth Asia US Europe Korea’s Hwaseong campus Phoenix training center Eindhoven BIC campus n late 2025, Korea’s Hwaseong In Q4 2025, we inaugurated our Preparations of our BIC campus campus opened its doors, enabling new training center fo
Slide 22: Financials and Outlook
Financials and Outlook Roger Dassen Executive Vice President and CFO January 28, 2026 Page 22
Slide 23: Q4 results summary
Q4 results summary Q4 2025 Total net sales €9.7 billion Net system sales €7.6 billion Installed Base Management1 sales €2.1 billion Gross Margin 52.2% Operating margin2 35.3% Net income as a percentage of total net sales 29.2% Earnings per share (basic) €7.35 Net bookings3 €13.2 billion of which EUV
Slide 24: 2025 - Business summary
2025 - Business summary ASML: • Total net sales of €32.7 billion at 52.8% gross margin • Net income at €9.6 billion resulted in an earnings per share (basic) of €24.73 • Returned €8.5 billion to shareholders through dividends and share buybacks • nvested €1.3 billion in Mistral A , a strategic partn
Slide 25: Net system sales breakdown (Yearly)
Net system sales breakdown (Yearly) 2025 Net system sales €24,474 million 2024 Net system sales €21,769 million January 28, 2026 Page 25
Slide 26: Total net sales by End-use
Total net sales by End-use Installed Base Management1 Logic Memory January 28, 2026 1 Installed Base Management equals our net service and field option sales Page 26
Slide 27: Consolidated statements of operations
Consolidated statements of operations Year on Year (in millions €, except otherwise indicated) 2021 2022 2023 2024 2025 Total net sales 18,611 21,173 27,559 28,263 32,667 Gross profit 9,809 10,700 14,136 14,492 17,258 Gross margin % 52.7 50.5 51.3 51.3 52.8 Other income 1 214 — — — — R&D costs (2,54
Slide 28: Cash return to shareholders
Cash return to shareholders • ASML intends to declare a total dividend for the year 2025 of €7.50 per ordinary share. An interim dividend of €1.60 per ordinary share will be made payable on February 18, 2026 • Recognizing this (third) interim dividend and the two interim dividends of €1.60 per ordin
Slide 29: Outlook
Outlook January 28, 2026
Slide 30: Outlook Q1 2026 and FY 2026
Outlook Q1 2026 Total net sales between €8.2 billion and €8.9 billion of which Installed Base Management1 sales around €2.4 billion Gross margin between 51% and 53% R&D costs around €1.2 billion SG&A costs around €0.3 billion FY 2026 Total net sales between €34 billion and €39 billion Gross margin b
Slide 31: Strengthening our focus on engineering and innovation
Strengthening our focus on engineering and innovation Christophe Fouquet President and CEO January 28, 2026 Page 31
Slide 32: Addressing employee feedback on processes and complexity
Addressing employee feedback on processes and complexity to strengthen focus on engineering and innovation Responding rapidly and Creating a context in which our Supporting and Providing efficient adequately to customer technology employees can partnering closer with solving power on needs deliver t
Slide 33: Questions & Answers
Questions & Answers
Slide 34: Thank you
Thank you January 28, 2026