Soitec : Universal Registration Document - PDF - 5.48 MB (soitec 2025 2026 urd va)

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2025-2026 Univsísal Rsgisťíaťion Kocumsnť Including the Annual Ïinancial Repoít 1 Contents Profile 2 Messages 4 Governance 6 Strategy 8 Trends 10 Sustainable development 12 Financial performance 14 Overview of Soitec and its businesses 17 About Soitec 18 Trends and markets 19 A value creation strategy for sustainable growth 22 Products: a wide range of engineered substrates 25 Innovation 26 Production 29 Soitec customers are key strategic partners 31 Intensifying the Group's quality commitment 31 Competitive landscape 32 Group organization chart 33 2.1 Risk factors and control mechanisms 36 7.1 Information about the Company 330 2.2 Internal control and risk management 48 7.2 Shareholding structure 330 2.3 Insurance and risk hedging 56 7.3 Share capital information 335 2.4 Compliance with laws and regulations 57 7.4 Stock market 347 Risk factors and control environment 35 Corporate governance 153 4 Administration and management of the Company 154 Compensation 193 Agreements 221 5 Comments on the fiscal year 227 Analysis of the financial position and consolidated results for the fiscal year 228 Subsequent events 237 Trends and objectives 237 6 Financial statements 239 Historical financial information 240 Consolidated financial statements 241 Statutory financial statements 290 Other financial and accounting information 323 Analysis of the financial position and results of the Company 325 7 Information about the Company, its shareholding structure and share capital 329 3 Sustainability report 59 2 Annual General Meeting 351 8 for transformation 79 Environmental information 81 Social information 116 Sustainability governance: a shared responsibility 133 Appendices 140 Report on the certification of sustainability information and verification of the disclosure requirements under Article 8 of Regulation (EU) 2020/852 for Soitec SA (For the year ended March 31, 2026) 149 the resolutions submitted to the Annual Introduction 60 8.1 Participation in Annual General Meetings 352 3.1 General information 62 8.2 Agenda 353 3.2 A long-term vision: innovation 8.3 Report of the Board of Directors on General Meeting of July 29, 2026 354 8.4 Statutory Auditors' reports 369 9 Additional information 373 Declaration by the person responsible for the Universal Registration Document 374 Persons responsible for financial information and Statutory Auditors 374 Fees paid to the Statutory Auditors and the members of their networks 374 Cross-reference tables 375 Glossary 382 2025-2026 Univsísal Rsgisťíaťion Kocumsnť including the annual financial íspoít The Universal Registration Document in French was filed on June 10, 2026 with the French financial markets authority ( Autorité des marchés financiers - AMF) as competent authority under Regulation (EU) 2017/1129, without prior approval pursuant to Article 9 of said Regulation. The Universal Registration Document may be used for the purposes of an offer to the public of securities or admission of securities to trading on a regulated market, provided it is accompanied by a securities note and, if applicable, a summary and any amendments to the Universal Registration Document. All of these items are approved by the AMF in accordance with Regulation (EU) 2017/1129. This document is a translation into English of the Universal Registration Document including the 2025-2026 Annual Financial Report of the Company issued in French. The French version was registered with the AMF in European Single Electronic Format (ESEF), and is available on the website of the AMF ( https://www.amf-france.org ) and on the website of the Company ( https://www.soitec.com ). ‌Profile A world leader in innovative semiconductor materials Soitec develops innovative solutions enabling electronic component makers to enhance the performance of their products, incorporate new functionalities and reduce power consumption. Soitec acts as a driving force in the semiconductor ecosystem, stepping up global transformation with artificial intelligence, mobile communications and energy efficiency. Soitec's products are used to manufacture chips for three strategic end markets: Mobile Communications, Automotive & Industrial, and Edge & Cloud AI. €592m in revenue France 6% (of revenue) International 94% (of revenue) Mobile Communications €309m 52% (of revenue) 12% (of revenue) 36% (of revenue) Automotive & Industrial €69m Edge & Cloud AI €214m 6 production lines over 2,100 employees over 4,700 patents 19.3% of revenue invested (before capitalization) United States 9% (of revenue) Europe 30% (of revenue) Asia 61% (of revenue) in R&D MESSA G ES Frédéric Lissalde Chair of Soitec's Board "Soitec has all the assets and the talent to develop and capitalize on the emerging tailwinds in our sector" The 2025-2026 fiscal year marked a pivotal moment in Soitec's history. The arrival of Laurent Rémont as CEO opens a new chapter: that of a company which, building on the foundations laid over the past few years, is embarking upon its future with clarity, discipline and renewed ambition. The semiconductor industry is undergoing a period of profound and enduring change. The rise of artificial intelligence, the densification of data infrastructure and the electrification of the global economy are the structural forces reshaping demand for advanced substrate technologies. Thanks to our investment ‌in technological excellence, the development of our offerings and products and the quality of our customer relationships, Soitec is positioned at the heart of these critical developments for our industry. Against this backdrop, the Board of Directors has entrusted the role of CEO to a leader with a deep grounding in the semiconductor industry, as well as international experience and a track record of driving ambitious transformations in challenging environments. Laurent Rémont meets all these requirements through his experience with major sector players, his familiarity with the technologies and market dynamics shaping the Group's future and the management responsibilities he has exercised in comparable environments. To accompany this next phase, the Board has also evolved its own governance structure in the interest of simplification and efficiency. I would also like to commend Pierre Barnabé for his dedicated and exacting leadership of Soitec over the past few years. Under his tenure, the Group accelerated the strategic rebalancing that is now yielding greater exposure to growth markets and increased resilience. In a challenging period for its markets, Soitec also maintained rigorous financial discipline. The Board is convinced that Soitec has all the assets and the talent to develop and capitalize on the emerging tailwinds in our sector. The quality of its technologies, the depth of its industrial expertise and the trust of its customers are a solid foundation upon which Laurent Rémont and his teams can build with determination to write the next chapter of our story. Messages Laurent Rémont Chief Executive Officer "The major trends transforming our industry - chief among them artificial intelligence -create significant opportunities for Soitec, which we are determined to seize." I am honoured to have assumed the role of CEO of Soitec on April 1, 2026, at a challenging yet pivotal moment for the Group's future. Soitec is navigating a complex market environment, marked by ongoing corrections in some business segments. The situation calls for determination, humility and pragmatism. It is in this spirit that I have assumed my new responsibilities, drawing on my knowledge and experience of the semiconductor industry. From my very first conversations within the company, I was able to appreciate the quality of Soitec's teams and the high expectations they express. These expectations are legitimate : it is our shared responsibility to prepare Soitec to capitalise fully on the next growth cycle, by leveraging its strategic position in the semiconductor value chain. And Soitec has no shortage of advantages: the strength of its technology positions, particularly in photonics; the quality of its industrial base in France and internationally; and the richness of its innovation and product portfolio. I am also convinced that the major trends transforming our industry - chief among them artificial intelligence - create significant opportunities for Soitec, which we are determined to seize. As we move forward, I intend to proceed methodically. Drawing on the expertise of our teams, we will make clear choices to align our priorities with market dynamics. Our aim is to focus our efforts on the products, technologies and markets where Soitec has the most to gain, and to lay the groundwork for the next growth phase, while maintaining the same high level of financial discipline. Soitec is entering a new era. The Group has the technologies, talent and positioning to play its full part. Armed with this conviction, and our strong commitment to execution, we will move ahead together. G O VERNANCE SU C A ST Governance structure BOARD OF DIRECTORS 10 88% meetings* attendance rate* 70% independent members** 60% women** 4 53 nationalities average age Implementation of the strategy defined by the Board of Directors CEO AND EXECUTIVE COMMITTEE STRATEGIC COMMITTEE* 12 members 6 meetings* 84% attendance rate* 70% independent members** AUDIT AND RISKS COMMITTEE 5 members 7 meetings* 100% attendance rate* 80% independent members** COMPENSATION, NOMINATIONS AND BOARD GOVERNANCE COMMITTEE* 5 members 7 meetings* 97% attendance rate* 75% independent members** SUSTAINABILITY COMMITTEE* 5 members 5 meetings* 76% attendance rate* 100% independent members** * During fiscal year 2025-2026. ** Excluding employee directors. Executive Committee at the date of publication of the Universal Registration Document ‌ From left to right: Steve Babureck, Executive Vice President, Chief Strategy Officer in charge of Marketing & Communications • René Jonker, Executive Vice President, Chief Product Officer • Cyril Menon, Senior Executive Vice President, Operations Excellence & Quality Chief Operations Officer • Christophe Maleville, Senior Executive Vice President, Chief Technology Officer in charge of Innovation• Emmanuelle Bely, Executive Vice President, General Secretary, Secretary to the Board of Directors • Laurent Rémont * , Chief Executive Officer • Jeannette Schuh, Executive Vice President, Chief G H o u v m ern a a n n R ce esources Officer in charge of Transformation and People and Culture Communication • Albin Jacquemont, Executive Vice President, Chief Financial Officer and Calvin Chen * , Chief Sales Officer. * New member: as of December 1, 2025 for Calvin Chen and as of April 1, 2026 for Laurent Rémont. Governance The Board of Directors at the date of publication of the Universal Registration Document Frédéric Lissalde Chair of the Board INDEPENDENT Julie Galland Representative of CEA Investissement Delphine Segura Vaylet INDEPENDENT Victor Barruol Employee director Christophe Gégout INDEPENDENT Shuo Zhang INDEPENDENT Françoise Chombar INDEPENDENT Didier Landru Employee director Samuel Dalens Representative of Bpifrance Participations Satoshi Onishi Laurence Delpy Representative of Fonds Stratégique de Participations INDEPENDENT Maude Portigliatti* INDEPENDENT Nominations submitted for approval at the Annual General Meeting of July 29, 2026 Laurent Rémont Chief Executive Officer Didier Fontaine INDEPENDENT * Maude Portigliatti's term of office, which expires at the close of the Annual General Meeting of July 29, 2026, will not be submitted for renewal. Renewal subject to a vote at the Annual General Meeting of July 29, 2026 Appointment effective in fiscal year 2025-2026: Julie Galland October 1, 2025, Victor Barruol November 14, 2025 Chair of the indicated Committee Member Board skills mapping SEMICONDUCTOR INDUSTRY 8 R&D 6 APPLICATION DOMAINS 6 TMT 9 EXECUTIVE MANAGEMENT 8 FINANCE 5 HR 1 INTERNATIONAL 10 ENVIRONMENT 10 SOCIAL 5 GOVERNANCE 12 STRATE G Y A value creation strategy for sustainable growth RESOURCES VISION HUMAN over 2,100 employees of 49 nationalities, with 36% women INNOVATION over 4,700 active patents, including 471 filed in fiscal year 2025-2026. Soitec comes 25 th in INPI's 2025 ranking of patent filers, and is also the second-ranked mid-sized company "To be the undisputed sustainable leader in engineered substrates supplying the world with energy-efficient semiconductors." EXPERTISE ECOSYSTEM BASED ON RELATIONSHIPS Technology Technological expertise in the transfer of thin layers and the integration of advanced semiconductor materials. Polishing Annealing Bonding Implantation Smart Cut TM Interface engineering Epitaxy Advanced manufacturing processes 14 partners in academics and research, including MIT, CEA-Leti, NUS among others PRODUCTION Thin active layer ENGINEERED SUBSTRATES 6 production lines worldwide ‌FINANCIAL STRENGTH €1,327m in equity at March 31, 2026 Functional or insulating layer Base substrate We win as one team Collective success is our strength. Strategy CORPORATE PURPOSE "We are the innovative soil from which smart and energy efficient electronics grow into amazing and sustainable life experiences." VALUES We are responsible entrepreneurs Soitec combines boldness and responsibility. We innovate together with our customers and partners Innovation is born of collaboration with our stakeholders. We care for people Soitec places people at the heart of everything it does. VALUE CREATION 5 strategic priorities EMPLOYEE SHAREHOLDING STRUCTURE Accelerate profitable growth Protect our value and profit generation 100% of employees eligible for free performance share plans Execute at the right speed with a quality mindset Drive sustainability and develop people & organization Nurture relationships with internal and external partners PLANET 36% reduction in Scopes 1 and 2 GHG emissions in absolute terms in 2025 compared with the 2020 baseline 30% reduction in water withdrawals per production unit during fiscal year 2025-2026 compared with the 2020-2021 baseline Production High-volume production capacity while maintaining rigorous control of wafer uniformity. A global footprint An agile Operational Sustainable industrial model excellence and responsible manufacturing SHAREHOLDERS 5 PRODUCT LINES 19.3% CUSTOMERS 3 END MARKETS Mobile Communications Automotive & Industrial Edge & Cloud AI of revenue invested in R&D (before capitalization) RF-SOI Power-SOI FD-SOI Photonics and optical sensing POI and filter design €592m in revenue 25.4% EBITDA margin in fiscal year 2025-2026 TREN D S and opportunities Digitalization and artificial intelligence along with environmental protection are accelerating growth in Soitec's key markets DIGITALIZATION & AI NATURE PRESERVATION Our environment is constantly digitalizing, and we are entering an unprecedented age of artificial intelligence. Driven by exponential data growth and computing capabilities, the rise of AI is already having a profound impact on the global economy, transforming productivity and redefining the way we live and work. The adoption of AI could boost global economic output by as much as 15 percentage points by 2035 (1) , an impact comparable to that of the industrial revolution. The approach to environmental matters is now more holistic, and not solely focused on energy, which is driving the industry to make connections between technical advances and protecting nature, in particular through the development of more efficient, eco-designed solutions. The aim is to shift towards products that combine high performance with a reduced environmental footprint, all while optimizing energy consumption and water and resource use. With this in mind, technological innovation is increasingly being seen as a lever to keep pace with market developments, and contribute to preserving ecosystems at the same time. SOITEC HAS A UNIQUE POSITION IN THE SEMICONDUCTOR VALUE CHAIN Global semiconductor industry sales totaled around US$792 billion in 2025, according to the Semiconductor Industry Association's (SIA) annual industry review. This represents a level nearly 20% higher than in 2024, mainly due to strong demand for AI chips and a rebound in the memory market. The SIA anticipates further growth of over 20% in 2026. In terms of the long-term outlook, the semiconductor market is expected to be worth between US$1,500 and US$1,800 billion by 2030 (2) . Foundries ‌EQUIPMENT BULK MATERIALS ENERGY AND WATER End markets Design MOBILE COMMUNICATIONS AUTOMOTIVE & INDUSTRIAL Fabless EDGE & CLOUD AI Engineered substrates PwC: Value in motion, April 2025; https://www.pwc.com/gx/en/issues/value-in-motion.html . McKinsey: Hiding in plain sight: The underestimated size of the semiconductor industry, January 2026; https://www.mckinsey.com/industries/semiconductors/our-insights/hiding-in-plain-sight-the-underestimated-size-of-the-semiconductor-industry . Trends Meeti ng the dema nd from thr ee end mark ets MOBILE COMMUNICATIONS AUTOMOTIVE & INDUSTRIAL EDGE & CLOUD AI For more than three decades now, mobile communication has made it possible to connect just about anyone at any time, from anywhere. This is Soitec's core market. While the smartphone market is now mature, the share of 5G-compatible models is growing steadily. From 200 million units in 2020 to almost 900 million units in 2025 (1) , the adoption of 5G is giving rise to a sharp increase in semiconductor content in smartphones (2) , which is directly reflected in higher demand for Soitec products. One of Soitec's flagship products, RF-SOI, dedicated to radiofrequency (RF) chips, has become an industry standard present in virtually all of today's 4G and 5G smartphones. The car is no longer just a means of transport, it has become a veritable computer on wheels, combining connectivity and respect for the environment. Indeed, the automotive segment is going through a once-in-a-century transformation thanks to the connected, autonomous, shared and electric (CASE) megatrend. Our cars are becoming supercalculators and power stations all rolled into one. With a compound annual growth rate estimated at more than 10% between 2020 and 2030, the automotive electronics segment is one of the fastest growing markets in the semiconductor industry (3) , mainly driven by electrification and autonomous driving (4) . Boosted by increasing adoption, electric vehicles represented a quarter of global sales in 2025, and should reach 50% by 2035 (5) . Industrial electronics encompass a wide range of applications such as the generation, storage and management of energy, transportation and automation, which are driving additional demand for semiconductors. Artificial intelligence (AI) is revolutionizing our society and our economy. It is redefining the way we work, consume and interact for the foreseeable future. This revolution relies first and foremost on cloud infrastructure, involving the extensive rollout of data centers dedicated to AI, essential for building and running the most advanced models. The power and efficiency demands of these data centers make silicon photonics a vital component. By replacing electronic interconnections with optical connections, data transfer is dramatically accelerated as close as possible to the chip, while also offering much greater energy efficiency. At the same time, data processing is gradually moving closer to the user: this is Edge AI, acting in real time and directly at the heart of the object, meeting the strategic imperatives of responsiveness, confidentiality and service continuity. The trend culminates with the emergence of humanoid robots and complex autonomous systems for which on-board intelligence is a must. However, this decentralization requires radical energy sobriety, where every watt consumed must be maximized to ensure the machine's performance and autonomy. 5 Business Lines RF-SOI POI and filter design FD-SOI Power-SOI Photonics and optical sensing 2 Emerging Business Lines RF-GaN SmartSiC TM IDC, Soitec estimates . Yole, 5G impact on RF front-end module content, 2020. Deloitte, Semiconductor - The Next Wave: https://www.deloitte.com . Bain, Electric and Autonomous Vehicles - The Future is Now: https://www.bain.com . IEA, Global EV Outlook 2026: https://www.iea.org . SUST A INABLE DEVELOPMENT Sustainability strategy Sustainability is enshrined in Soitec's strategy. We defined a roadmap for 2026, which was then extended to 2030. 50% reduction in Scopes 1 and 2 GHG (greenhouse gas) emissions by 2030 vs. 2023 and 25% reduction in Scope 3 GHG emissions by 2030 vs . 2023* D r i v e t t h h e r t o r u a n g h s i i t i o n t n d o s t p a i e n a Environment 50% reduction in water withdrawals per production unit by 2030 50% of water reused every year at the Bernin site r a b l ti e by 2030 n n o v o a w t i a o r n d a a s u o e n s c o n o m Achieve y 40% representation of women on the workforce and P r o the Executive Committee by 2030 Social t t t c r A a p ‌Sust G ain o ab v le e de r v n elo a pm n e c nt e Achieve r e m s o p t o e n a s n i ibl 30% n representation of women e c l u c u s l i t at senior manager level and above by 2030 v e u r a e n Provide training to d 100% of employees on ethics, information y e l t b i n i s security and ESG matters by 2030 u n m o m p o s e c r e a h t e m o c Provide training to n i t n e b a p o i ic 100% of employees on the Code of Conduct 100% of strategic suppliers have signed or are in compliance with Soitec's Supplier ESG Policy Zero tolerance for corruption, fraud, major ethics breaches by 2030 * Targets submitted to the SBTi and currently in the process of being validated. Sustainable development Non-financial performance A GLOBAL ECOSYSTEM FOR INNOVATION over 4,700 active patents worldwide 27% of patents filed by women 18 research projects with CEA-Leti 310 employees working in R&D THE CORNERSTONE OF PERFORMANCE 68% Taxonomy alignment in fiscal year 2025-2026 (46% in fiscal year 2024-2025) 49% of water recycled and reused 36% reduction in Scopes 1 and 2 GHG emissions in absolute terms compared with 2020 96% of strategic suppliers have signed Soitec's Supplier ESG Policy B score from CDP (water and climate) OUR ACTIVITIES AND OUR STAKEHOLDERS 0 major cyber incidents 93 % of employees trained in data protection and cybersecurity Information security: Bernin site audited and ISO 27001 certified 0 confirmed cases of corruption SUSTAINABILITY, PROTECTING THE SEVEN PILLARS OF THE CLIMATE PLAN Raise employee awareness 7 Improve the energy performance of Soitec's industrial facilities 1 Reduce emissions 6 from subcontracting 5 Decarbonize purchased 4 goods and services 2 Consume low-carbon energy 3 Reduce process greenhouse gases Prioritize low-carbon freight FIN A NCIAL PERFORMANCE REVENUE (in € millions) €592m in revenue for fiscal year 2025-2026 2023 2024 2024 2025 2025 2026 592 (-30% (1) ) 978 (-9% (1) ) 891 (-9% (1) ) Automotive & Industrial 52% 12% Mobile Communications EBITDA (continuing operations) (in € millions) CURRENT OPERATING INCOME (in € millions) Edge & Cloud AI 36% 2023 332 2023 208 2024 (34.0% (2) ) 2024 (21.3%) 2024 2025 298 (33.5% (2) ) 2024 2025 136 (15.2%) 2025 2026 151 (25.4% (2) ) 2025 2026 (8) (-1.3%) (1) Annual growth calculated at constant scope and exchange rates. (2) Proportion of revenue. CAPEX (Net cash used in investing activities) FREE CASH FLOW NET DEBT (in € millions) (in € millions) 2023 2024 2024 2025 2025 ‌2026 135 (5) 276 (3) 230 (4) 2023 2024 2024 2025 2025 2026 (43) 26 63 2023 2024 2024 2025 2025 2026 (39) (94) (56) (3) €225m net of finance leases. (4) €199m net of finance leases. (5) €128m net of finance leases. Financial performance Albin Jacquemont Chief Financial Officer "Against a backdrop of limited visibility, we remain focused on the areas fully within our control. Returning to positive free cash flow is the first step on a clear path: cash generation, then revenue stabilization, then margin and cash flow expansion." Fiscal year 2025-2026 was marked by the continuation of a correction phase in our core markets. We chose to move through this cycle while protecting our industrial footprint and our R&D investment, two assets that will determine how effectively we can capture operating leverage when demand recovers. The RF-SOI inventory correction across the smartphone value chain is still under way. In automotive, the recovery in Power-SOI remains more delayed than for our Analog peers, although long-term agreements with key customers give us solid visibility on future volumes. In this uncertain environment, our trajectory is clear and we are following it with discipline. The path unfolds in three stages: first, restore free cash flow by reducing working capital requirement and moderating investments; next, stabilize revenue as conditions normalize across our markets; and finally, return to profitable growth, supported by the operating leverage of a flexible industrial model and an expanding product portfolio. This has meant adjusting capacity with agility, investing selectively and maintaining strict cost discipline, while remaining fully committed to our R&D investments. We are sustaining the latter as they underpin our competitive advantage. In a year without growth, we focused on restoring positive free cash flow (€63 millions) w hile preserving a strong balance sheet and solid liquidity (net debt / EBITDA). This outcome directly reflects the industrial priorities we have maintained: a flexible manufacturing base and sustained investment in R&D. As growth returns, inventories come down and fab reloading accelerates, that should translate into meaningful operating leverage with limited marginal cost. The rebalancing of our product portfolio that has been underway for several years is now most tangible in Photonics-SOI. The build-out of AI data center interconnect infrastructure is creating structural demand for photonic substrates, and Soitec is a global leader in this segment with high-growth potential. Photonics-SOI began to make a meaningful contribution to revenue this fiscal year, and ongoing discussions with new customers underline the momentum ahead. This is the kind of technology-, rather than cycle-led growth, that fundamentally reshapes our revenue profile over time. Our technological edge in SOI substrates, built over more than two decades of R&D investment, remains our most durable asset. It can be seen in the depth of our relationships with leading global foundries, in the sophistication of processes that no other player masters at the same level, and in the confidence our customers place in us for the next generation of products. We are coming out of this cycle with a solid balance sheet, a growing product portfolio and most of our capacity expansion investments behind us. Our priority now is to turn that foundation into recurring free cash flow, and we are reinforcing the fundamentals needed to deliver it. 16 SOITEC I 2025 - 2026 UNIVERSAL REGISTRATION DOCUMENT 01 ‌Overview of Soitec and its businesses 1.1 About Soitec 18 1.5 Innovation 26 1.5.1 Extraordinary technologies for making 1.2 Trends and markets 19 the highest-performing substrates 26 1.2.1 Digitalization and AI are accelerating growth 1.5.2 A global patent portfolio, protecting in Soitec's key markets 19 a unique competitive advantage 27 1.2.2 Protecting the environment requires powerful 1.5.3 Strategic collaborations throughout technological innovations 19 the semiconductor value chain 27 1.2.3 An ever changing and rapidly growing global 1.5.4 Soitec Belgium, a site dedicated to gallium nitride 27 semiconductor market 20 1.5.5 Product pipeline 28 1.2.4 Edge & Cloud AI 20 1.5.6 Emerging Business Lines 28 1.2.5 1.2.6 Mobile Communications Automotive & Industrial 21 21 1.6 Production 29 1.3 A value creation strategy 1.6.1 1.6.2 Production sites in France Production site in Singapore 30 30 for sustainable growth 22 1.6.3 Production partnership in China 30 1.4 Products: a wide range of 1.7 Soitec customers are key strategic engineered substrates 25 partners 31 1.8 Intensifying the Group's quality commitment 31 1.9 Competitive landscape 32 1.10 Group organization chart 33 01 OVERVIEW OF SOITEC AND ITS BUSINESSES About Soitec ‌About Soitec Soitec was founded over 30 years ago in the high-tech innovation ecosystem of Grenoble (France), with the mission of creating and developing engineered substrates for the semiconductor industry. Semiconductor materials are the foundation of electronic circuits. By offering innovative and competitive solutions that reduce energy consumption and improve the performance of circuits, the Group's engineered substrates fuel momentum in the semiconductor industry. Soitec's products are found in virtually all of today's smartphones, and are increasingly present in data centers, the automotive sector, industrial applications and in smart devices. Applying advanced materials engineering expertise, the Group has developed processes to bring together all types of material, without altering their crystallographic properties. The resulting multi-layer substrates enhance the functions and performance of its customers' integrated circuits (ICs). The proprietary Smart Cut TM(1) technology is the best - known technology in Soitec's portfolio, and most of the Group's products are manufactured using it. It works like a scalpel at the atomic scale and allows the transfer of ultra-fine monocrystalline material layers from a donor substrate to a receiver substrate via ionic and wafer-to-wafer bonding. It stretches the traditional limits of techniques for depositing layers while providing absolute control of thickness uniformity for the various layers at the atomic mesh. The Group's know-how extends from silicon to compounds. Soitec has also developed expertise in stacking integrated circuit layers onto a substrate different from the one on which it is manufactured (Smart Stacking TM(2) ) and epitaxially. These technologies can be combined and form an impressive innovation-oriented toolkit, capable of offering optimally efficient solutions to its customers. Soitec produces these engineered substrates at manufacturing units equipped with technologies at the cutting edge of quality control and productivity. The Group sells the substrates to semiconductor foundries and integrated device manufacturers worldwide for them to develop the most cutting-edge products. The engineered substrates developed and produced by Soitec are then used by its customers to manufacture electronic chips for the artificial intelligence (data centers, smart devices), mobile telecommunications (smartphones, 5G infrastructure) and automotive markets and for industrial applications. With a presence across the globe, the Group is a world leader in the design and production of Silicon-on-Insulator (SOI) wafers. The product portfolio also includes Piezoelectric-on-Insulator (POI) substrates for the manufacture of high-performance RF filters. In addition, Soitec develops wide bandgap semiconductor substrates such as gallium nitride (GaN), silicon carbide (SiC) and indium phosphide (InP). Soitec then applies its Smart Cut TM technology, both to improve their performance and produce them more efficiently. Soitec's innovation and products are backed by a total commitment toward a fairer and more sustainable world. Consequently, the Group's sustainability strategy and corporate culture are central to its operations. This strategy is based on three pillars: drive the transition toward a sustainable economy through innovation and operations, leverage an inspiring company culture, and act to become a role model for a better society. Description of the Smart CutTM process: https://www.soitec.com/home/technology/innovation/smart-cut . Description of the Smart StackingTM process: https://www.soitec.com/home/technology/innovation/smart-stacking . 01 ‌Trends and markets‌ Digitalization and AI are accelerating growth in Soitec's key markets By the end of the next decade, digitalization and artificial intelligence will continue to play a key role in transforming the smartphone, automotive and connected objects markets as well as data centers. Edge AI is set to considerably improve the data processing capabilities of smartphones. Thanks to advances in generative AI, voice recognition and computer vision, smartphones will offer smoother, more personalized experiences. The integration of dedicated AI processors will enable better performance in photography, real-time translation and voice interaction applications. Autonomous smart cars will benefit from even more advanced AI algorithms, optimizing driving safety as well as vehicle maintenance and energy management. Levels 3 and 4 autonomous cars will gradually become accessible thanks to improved interconnectivity between sensors, cameras and embedded edge computing. ‌This development is part of the broader rise of physical AI: the transition from purely digital intelligence to intelligence capable of interacting with the real world. These technological advances are no longer confined to smartphones or vehicles; they now extend to humanoid robots, that will gradually become capable of performing complex, multi-skilled tasks in real-world environments, from industrial sites to personal services. The number of smart objects with embedded AI is set for rapid growth. Local data processing (Edge AI) will enable smart home appliances, industrial sensors and medical devices to process data in real time without passing through the cloud, reducing latency and energy consumption. This development will reinforce the cybersecurity and autonomy of connected systems. The AI boom will require high-performance network infrastructures. Data centers will evolve toward ultra-low-latency optical interconnections to ensure the rapid transfer of massive volumes of data between servers and AI computing units, while drastically reducing energy consumption. These new architectures will enable companies to fully take advantage of distributed AI and reduce data processing bottlenecks. Between now and 2030, these developments will stimulate growth in these markets, while transforming use cases and boosting the competitiveness of technology companies. Thanks to its technological expertise in innovative semiconductor materials, Soitec is ideally positioned to take full advantage of the growth of these AI-driven markets, while also making them more energy efficient, thereby strengthening its competitiveness and positioning as a leader in technology. Protecting the environment requires powerful technological innovations Today, protecting the environment is synonymous with fighting global warming and resource scarcity. In extreme cases, such a scenario in which GHG emissions continue increasing, sea levels could rise by more than one meter by 2100, compared to the 22-centimeter rise seen over the last century. In response to the urgency set out by the various COPs, the overall objective remains limiting the increase in temperatures to 1.5°C by the end of the century. Fully committed to this decarbonization pathway, Soitec had its emissions reduction targets (Scopes 1 and 2) validated by the Science Based Targets initiative (SBTi). Achieving the 1.5°C target will require a profound transformation, including a major reduction in electricity generation emissions by 2030. This challenge is made all the more difficult given the dramatic expansion of artificial intelligence, and the resulting need for computer power in data centers, leading to significant additional electricity demands. At the same time, the emergence of physical AI - from autonomous vehicles to humanoid robots - calls for decentralized, high-performance intelligence. In this context, the use of cutting-edge energy-efficient technologies and the growing adoption of electric mobility play a fundamental role. An increasingly connected world is taking shape, where the viability of AI and smart devices will depend directly on our ability to make them extremely more energy efficient. The global market for Edge AI is expected to see strong growth between now and 2030, in order to meet the need for real-time data processing and reduced latency. This development also has a major impact on data center architectures. Data centers are migrating from centralized models to decentralized architectures, deploying smaller, localized facilities in order to reduce latency and improve Edge AI data processing. The network infrastructure is improving thanks to ultra-high-speed optical interconnections and advanced equipment to efficiently manage artificial intelligence workloads. Modern data center designs now prioritize energy efficiency with improved power distribution systems, advanced cooling technologies and optical interconnections to support the growing processing power requirements linked to AI, while minimizing energy consumption. The world is more aware than ever of the economic and strategic importance of semiconductors in meeting environmental challenges. Thanks to its strategic positioning, Soitec delivers innovative products to the following three main markets: Edge & Cloud AI, Mobile Communications and Automotive & Industrial. 01 OVERVIEW OF SOITEC AND ITS BUSINESSES Trends and markets ‌An ever changing and rapidly growing global semiconductor market Global semiconductor industry sales saw strong growth in 2025, increasing more than 25% to around US$792 billion, after an almost 20% rebound in 2024, according to the annual World Semiconductor Trade Statistics (WSTS) review. This strong growth is mainly driven by accelerated demand for artificial intelligence and memories. As semiconductor content in everyday products continues to rise, driven by rapidly growing needs for connectivity and energy efficiency, and increasingly powerful artificial intelligence applications, the industry is maintaining a steady level of growth and should continue to grow by more than 20% in 2026. The ubiquity of AI is fueling innovations in chip design, manufacturing and integration, amplifying the need for advanced semiconductor solutions to ‌power next - generation technologies and keep pace with constantly evolving consumer demands. Geopolitical and economic developments related to the consequences of wars in Ukraine and the Middle East, and growing global geopolitical tensions (particularly the recent US government announcements of potentially stricter tariffs), represent an indirect risk factor to the market in the medium term. Due to the growing strategic importance of the semiconductor sector, states have announced numerous support programs, in order to develop their strategic independence. These programs are helping to build the production capacity needed to meet growing demand and strengthen the resilience of supply chains (1) . In terms of the outlook for 2030, the semiconductor market is estimated to be worth between US$1,500 billion and US$1,800 billion (2) . Edge & Cloud AI Artificial intelligence has emerged as the primary driver of digital transformation, redefining semiconductor requirements through two complementary pillars: massive data center infrastructure and embedded intelligence (Edge AI). The rise of generative AI has triggered an unprecedented wave of investment in computing infrastructure. To meet the power requirements of large language models (LLM), the world's technology leaders (hyperscalers) are accelerating the rollout of next-generation data centers. By 2025, cumulative investment in AI infrastructure by all hyperscalers, such as Alphabet, Amazon, Meta and Microsoft, had reached around US$400 billion, up 68% on 2024 (3) . This increase in power poses critical challenges in terms of bandwidth and energy efficiency. In order to route vast volumes of data between servers while limiting power consumption, traditional copper solutions are gradually being replaced by optical interconnections. The market for optical transmission technologies, which stood at around US$10 billion in 2024, is therefore expected to reach around US$40 billion by 2030 (4) . Just as it does in the cloud, AI is shifting as close to the data as possible. Initially equipped with simple sensors, connected objects are evolving into complex systems capable of local processing. This trend, known as Edge AI, guarantees data confidentiality, eliminates transmission latency and reduces the system's overall energy footprint. When it comes to speeding up data transmission in data centers, or enabling not only ultra-precise detection but also autonomous and immediate response from nomadic devices, vehicles or robots, the limits of physics require the development of new chip architectures. Performance is no longer measured by gross computing power alone, but also by energy efficiency. Soitec is at the crossroads of this flux. Thanks to its advanced materials technologies, the Group provides concrete solutions to optimize the consumption of data centers dedicated to AI, accelerating data flows, and equipping intelligent systems with complete decision-making autonomy, from the design phase to immediate execution, all while maximizing energy efficiency. Gartner: https://www.gartner.com/en/articles/what-s-ahead-for-semiconductor-shortages . McKinsey & Company: https://www.mckinsey.com/industries/semiconductors/our-insights/hiding-in-plain-sight-the-underestimated-size-of-the-semiconductor-industry . BNP Paribas Research (December 2025). LightCounting, Silicon Photonics, LPO and CPO (May 2025). ‌Mobile Communications Demand for mobile data continues to grow by 20% every year, driven mainly by an increasingly interconnected society and the growing use of video in our exchanges (1) . Generative artificial intelligence could have a significant impact on future mobile network data flows, notably by increasing video consumption and changing uplink requirements. Mobile communication - particularly smartphone-based - continues to expand to offer new services from health to self - driving vehicles and smart homes. Beyond performance alone, the challenge is to make mobile communication more environmentally friendly. Growth in the number of smartphones slowed in 2022 and 2023, in particular due to deteriorated macroeconomic conditions and protracted anti-Covid policies in China, leading to a significant overstocking effect in the mobile value chain. The market then rebounded by 6% in volume in 2024, and continued to grow by around 2% in 2025, driven by premium devices. In 2026, however, ‌forecasts remain cautious due to capacity pressures on the memory market, which has been mobilized en masse to meet the exponential demand for AI infrastructures. Meanwhile, the uptake of 5G-enabled models continues, from 200 million units in 2020 to around 900 million in 2025 (2) . Adoption of 5G smartphones is growing steadily, driven by strong end-user experience and aggressive adoption plans from both operators and handset makers. The gradual adoption of new 5G standards is giving rise to a sharp increase in semiconductor content in smartphones (3) , which is directly reflected in higher demand for Soitec products. One of Soitec's flagship products, the RF-SOI substrate, dedicated to radiofrequency (RF) chips, has become an industry standard in 4G (present in almost all 4G and 5G smartphones). A first-generation 5G phone requires approximately twice the amount of Soitec's RF-SOI content than a 4G phone (4) . 01 Several other Soitec products have been developed to serve specific 5G requirements. Although the development of 5G mmWave technology is progressing in targeted geographic areas and for specific industrial applications, the bulk of growth is based on optimizing existing infrastructure. While the number of base station units is lower than mobiles, they incorporate much higher volumes of semiconductor materials and more complexity, opening up sustainable growth opportunities for Soitec in the deployment of next-generation networks. Lastly, the increase in the volume of data exchanged and the number of telephone frequency bands has led to an increase in the number of filters in phones. The need for higher-performance, less energy-intensive filters contributes to the POI (Piezo-on-Insulator) product's strong traction, one of the key elements in diversifying Soitec's product portfolio. Automotive & Industrial Today's cars are increasingly equipped with multimedia content, are becoming safer and greener, and will soon be fully autonomous. These trends will transform mobility with a focus on passenger comfort, convenience, safety and reducing the carbon footprint. The automotive electronics segment is currently being driven by a profound transformation thanks to the Connected, Autonomous, Shared and Electric (CASE) megatrend. Cars are becoming smartphones, supercomputers and power stations all rolled into one. Whereas car sales look to remain within single-digit growth, the automotive semiconductor content will at least double, depending on the level of electrification and automation of driving (5) . In 2030, around half of cars sold should be either fully electric or hybrid, versus around 28% in 2025 (6) . Although there are several, mainly technological and legal, obstacles to remove in order for fully autonomous cars to be able to drive on our roads, the car industry is already deploying a range of advanced driving assistance features and functions. Overall, the automotive semiconductor segment is forecast to grow at an annual rate of more than 10% between 2020 and 2030 (7) . Industrial electronics encompass a wide range of applications such as the generation, storage and management of energy, transportation and factory automation. These applications will drive the demand for semiconductors related to power, machine learning, artificial intelligence and data storage. To respond to this demand, Soitec has developed a portfolio of products that meet the needs of energy, connectivity and the smart industry. Ericsson Mobility Report, November 2024: https://www.ericsson.com/4adb7e/assets/local/reports-papers/mobility-report/documents/2024/ericsson-mobility-report-november-2024.pdf . Soitec consensus, based on industry data and sell-side analyst reports. Yole, RF Front-End Module Comparison 2024: https://www.yolegroup.com/product/report/rf-front-end-module-comparison-2024--5g-nrsub-6ghz-/ . Soitec's engineered substrates for 5G, 2020: https://www.soitec.com/media/files/soitec_5g_march_2020.pdf . Infineon, ATV Roadshow and Call: https://www.infineon.com/dgdl?fileId=5546d46174dd743b0174f89228fe001d . Soitec consensus, based on industry data and sell-side analyst reports. Source: UBS Analyst Report. ‌A value creation strategy for sustainable growth RESOURCES VISION HUMAN over 2,100 employees of 49 nationalities, with 36% women INNOVATION over 4,700 active patents, including 471 filed in fiscal year 2025-2026. Soitec comes 25 th in INPI's 2025 ranking of patent filers, and is also the second-ranked mid-sized company "To be the undisputed sustainable leader in engineered substrates supplying the world with energy-efficient semiconductors." EXPERTISE ECOSYSTEM BASED ON RELATIONSHIPS Technology Technological expertise in the transfer of thin layers and the integration of advanced semiconductor materials. Polishing Annealing Bonding Implantation Smart Cut TM Interface engineering Epitaxy Advanced manufacturing processes 14 partners in academics and research, including MIT, CEA-Leti, NUS among others PRODUCTION Thin active layer ENGINEERED SUBSTRATES 6 production lines worldwide FINANCIAL STRENGTH €1,327m in equity at March 31, 2026 Functional or insulating layer Base substrate We win as one team Collective success is our strength. A value creation strategy for sustainable growth CORPORATE PURPOSE "We are the innovative soil from which smart and energy efficient electronics grow into amazing and sustainable life experiences." VALUES We are responsible entrepreneurs 01 Soitec combines boldness and responsibility. We innovate together with our customers and partners Innovation is born of collaboration with our stakeholders. We care for people Soitec places people at the heart of everything it does. VALUE CREATION 5 strategic priorities EMPLOYEE SHAREHOLDING STRUCTURE Accelerate profitable growth Protect our value and profit generation 100% of employees eligible for free performance share plans Execute at the right speed with a quality mindset Drive sustainability and develop people & organization Nurture relationships with internal and external partners PLANET 36% reduction in Scopes 1 and 2 GHG emissions in absolute terms in 2025 compared with the 2020 baseline 30% reduction in water withdrawals per production unit during fiscal year 2025-2026 compared with the 2020-2021 baseline Production High-volume production capacity while maintaining rigorous control of wafer uniformity. A global footprint An agile Operational Sustainable industrial model excellence and responsible manufacturing SHAREHOLDERS 5 PRODUCT LINES 19.3% CUSTOMERS 3 END MARKETS Mobile Communications Automotive & Industrial Edge & Cloud AI of revenue invested in R&D (before capitalization) RF-SOI Power-SOI FD-SOI Photonics and optical sensing POI and filter design €592m in revenue 25.4% EBITDA margin in fiscal year 2025-2026 Soitec has developed a sustainable value creation model for all its stakeholders. By placing innovation at the heart of its model, Soitec can deliver sustainable and profitable growth, and build a platform from which to achieve its ambitious ESG impact objectives over the long term. For more than 30 years, Soitec has been innovating and working to define industry standards with a view to accelerating mass adoption of technological breakthroughs, and it fully benefits from the growth of the semiconductor market, which is being driven by strong demand for artificial intelligence. In the short term, however, the Group's performance continues to be affected by inventory corrections in the smartphone value chain, and by the difficulties encountered by actors in the automotive value chain, notably in Europe. After several years of strong overperformance from Mobile Communications revenue, the decline in the smartphone market in 2023 and 2024 led to overstocking of RF-SOI throughout the entire value chain. Although the smartphone market began a recovery in 2024 that continued into 2025, fabless companies and foundries (Soitec's direct customers) continued to dispose of inventory at above historical rates. This weighed on Soitec's RF-SOI revenue, and, against this backdrop, Group revenue fell by 30% over fiscal year 2025-2026. Nevertheless, powerful structural trends such as artificial intelligence, photonics, connectivity and automation, as well as energy efficiency, are driving a steady demand for semiconductor devices and materials in Soitec's strategic end markets. In this environment, the Group has identified five strategic priorities to achieve its goals: Accelerate profitable growth : Soitec is committed to strengthening its expansion by entering new markets, all while consolidating its principal activities to maintain its technological edge. This ongoing dedication to innovation enables the Group to identify emerging opportunities and expand its portfolio of substrates into new applications, securing its core business while generating profitable revenues beyond its current segments. Protect our value and profit generation : Soitec places financial performance and operational efficiency at the heart of its growth model. By making strong value recommendations that combine technological advantage and economic competitiveness, the Group strengthens its market differentiation. This ambition is underpinned by rigorous financial discipline applied throughout the organization, enabling Soitec to protect its margins and sustain its ability to generate sustainable value for all stakeholders. Execute at the right speed with a quality mindset : Soitec prioritizes operational efficiency and quality control across all its industrial processes, aligning its capacities with market demand. This operational rigor and industrial adaptability reinforce the Group's reliability vis-à-vis its customers and support sustainable, profitable growth. Nurture relationships with internal and external partners : the Group strengthens its relationships with customers, suppliers and partners (research institutes, local communities, etc.) to create shared value. Through active collaboration, Soitec is extending its influence in the global semiconductor ecosystem and ensuring that its innovations meet the needs of a wide range of end markets, aiming to make them the industry standard. Drive sustainability and develop people & organization : sustainability is at the core of Soitec's strategic vision, guiding the way the Group operates and innovates. By systematically integrating environmental, social and governance (ESG) criteria into its strategic decision-making, Soitec reduces its environmental footprint and promotes sustainable, profitable growth in line with its global mission. The women and men who work for the Group are key to its long-term success. Soitec invests in skills development to foster a collaborative, agile and high-performance culture. By supporting the development of each team, Soitec enables them to meet the challenges of the industry and bring a meaningful contribution to all stakeholders. To meet the growing demand of its customers, Soitec sustainably and profitably promotes the adoption of its products through partnerships and value chain investments by leveraging three main pillars: Strengthen its leadership in SOI : Soitec is consolidating its leading position in the market through continuous innovation and strategic collaborations. Expand its product portfolio in compound semiconductors beyond silicon-based : Soitec is expanding its product range to meet the evolving needs of its growing customer base. Increase its market presence : Soitec will continue to develop new products by leveraging its expertise and capabilities to seize growth opportunities. With an unwavering focus on innovation, industrial agility and quality relationships with its customers, Soitec continues to develop its product portfolio to take full advantage of its addressable market growth by 2030, to deliver sustainable financial growth and create value for all its stakeholders. Products: a wide range of engineered substrates 01 ‌Products: a wide range of engineered substrates With its range of technologies (Smart Cut TM , Smart Stacking TM ) and material engineering expertise (silicon, wide bandgap semiconductors, epitaxy), Soitec provides the electronics industry with new opportunities for innovation through products with high added value for end consumers. Using these, Soitec has developed a complete portfolio of engineered substrates to meet the needs of multiple segments and applications, which is based on five Business Lines: FD-SOI : for Edge AI applications requiring high energy efficiency and integrating digital and analog functions; Photonics and optical sensing : for the integration of high-performance silicon optical components in data centers; POI and filter design : for the creation of very high-performance electro-acoustic filters dedicated to RF applications, mainly for smartphones; Power-SOI : for highly integrated smart power ICs that meet high performance, high robustness and high functional safety (FuSa) requirements; RF-SOI : for highly efficient mobile communications for 4G and 5G standards. FD-SOI The FD-SOI substrate (Fully Depleted Silicon On Insulator) confers two main advantages to end products where the substrate is used: it offers unique optimization of performance, consumption, cost and circuit size; it enables the integration of digital and analog functions into traditional circuits, from a single technology platform. Its unique advantages include energy efficiency, durability in the face of process and temperature variations, and the integration of analog and digital calculation functions. Its performance is down to the unique design of Soitec's FD - SOI substrate, with its extremely thin and uniform silicon and oxide layers. Today, several foundries and integrated device manufacturers (IDMs) use FD-SOI technology, fielding comprehensive technology offerings for 65 nm, 55 nm, 28 nm, 22 nm and 18 nm nodes. Opinions from key actors in the FD-SOI value chain have become increasingly positive about this product, with regular announcements of "design wins", industrial-level capacity commitments, and adoption of the latest-generation FD-SOI technology for 18 nm nodes. Since October 2021 and the release of Google's 5G Pixel TM 6 Pro smartphone, the use of FD - SOI in mmWave modules has seen a major turning point. Many ranges of phones are now equipped with this type of module, and the main fabless RF players have adopted FD-SOI. FD - SOI technology will continue to evolve across this global ecosystem, with the development of embedded AI applications (Edge AI), robotics, automotive and 5G applications. In order to meet growing demand in smart FD-SOI substrates, Soitec now has two qualified production lines, in Bernin and Singapore. Photonics and optical sensing High-speed optical interconnections in data centers are undergoing rapid change, in the quest for faster data transfer, higher data volumes, lower costs and dramatically improved energy efficiency. Silicon photonics technology using SOI substrates is replacing previous-generation modules and optical solutions using III-V compound materials (GaAs, InP). Photonics-SOI substrates are a central feature of this transition. They are used for data center interconnections of 100/400 GbE (Gigabit Ethernet), 800 GbE and beyond. The integration of silicon photonics into very high speed components (co-packaged optics, CPO) is garnering growing interest. SOI technology offers a unique structure enabling the integration of optical devices monolithically on standard CMOS platforms. Soitec's photonics-SOI plays a major role in devices' final optical performance, so Soitec is continually innovating and improving their features to support the technological developments of latest-generation data centers. Soitec supplies several international foundries with both 200 mm and 300 mm wafers. The products developed were designed to meet the needs of the latest generation of integrated optics and photonics applications. Soitec puts special emphasis on the quality and replicability of its process, to keep abreast of the increasing needs of optical interconnections. The aim is to enable the co - integration of photonic functions and advanced electronic chips (GPU, CPU, HBM) to support the development of Cloud AI. Recent announcements from major actors in the artificial intelligence industry have confirmed the adoption of silicon photonics in co-packaged optical solutions for the most innovative data centers. In addition to their crucial role in data centers, Soitec's engineered substrates can be used in new segments such as LiDARs for autonomous mobility or biosensors for connected health. In these areas, the precision and miniaturization of optical circuits are key differentiating factors. POI and filter design Wide-scale development of mobile communications generates extremely dense traffic in all frequency bands. RF filters are used to ensure incoming data is isolated and avoid interference for other users when sending and receiving data. These filters, increasingly used in new-generation smartphones, must be smaller, use less energy and address higher frequencies and larger bandwidths. Using Soitec's POI (Piezo-on-Insulator) substrates, manufacturers can make surface acoustic wave (SAW) filters that meet these requirements. The filters are assembled in smartphone front-end modules, with power amplifiers, switches and low-noise amplifiers made using Soitec RF-SOI substrates. Soitec's POI products comprise a fine layer of piezoelectric material on top of an oxide layer and a high-resistivity silicon substrate. They pave the way to making filters that have a larger bandwidth and low sensitivity to temperature variations, and also provide the capability to integrate multiple filters on the same chip. In July 2020, Soitec announced a sales agreement with Qualcomm Technologies to supply POI substrates for new-generation RF filters to feature in smartphone front-end modules. Now that the first smartphones with acoustic filters on POI substrates are on the market, Soitec is responding to growing demand, with around ten customers in production, and more than a dozen in the qualification phase. The Group will continue to increase production capacity to meet the growing demand for 5G RF filters. The partnership launched in 2023 with SAWNICS to supply a Process Design Kit based on Soitec's POI substrates is also generating new opportunities for the Group. Power-SOI Power-SOI is a range of substrates for energy-efficient automotive and industrial power electronic devices that offer high-performance at high voltage. It is optimized for high operating voltages, has a high temperature tolerance and is very robust. It also allows for higher integration of digital and analog circuits on the die, which is crucial for creating high functional safety power electronics. Power-SOI is ideal for next-generation automotive power integrated circuits (ICs) such as in-vehicle network (IVN) ICs, smart power management ICs (PMICs), battery management ICs (BMICs) and driver ICs, which support new 48V low-voltage electrical network architectures. Some examples for industrial applications are smart gate driver ICs, smart motor controller ICs, current sensor ICs and ultrasound transducer/pulser ICs. Despite inventory corrections of certain actors in the automobile industry, demand for Power-SOI substrates remains high, driven by battery management system (BMS) applications with higher added-value 300 mm products. RF-SOI ‌RF-SOI substrates are found in virtually all of the smartphones sold all over the world. In the last few years, the range of Silicon-on-Insulator wafers made by Soitec for radiofrequency applications (RF-SOI) has emerged as the benchmark technology in the manufacture of many smartphone front-end module components. Front-end modules are a key component of cellular and Wi-Fi communication systems in cell phones. RF-SOI content is increasing with each new product generation as more devices and higher performance are required in the front-end module to meet the standards of new cellular generations such as 5G. The Group's RF-SOI product family provides better performance than competing technologies by meeting the 4G and new 5G cellular and Wi-Fi 6, 6E and 7 standards. These products provide an increase in data speeds without compromising the quality of the communication. The RF-SOI product family includes RF enhanced Signal Integrity (RFeSI) and High Resistivity-SOI (HR-SOI) wafers. Key supply contracts are in place with the main foundries. New-generation RFeSI products reduce the energy consumption of front-end modules at equivalent performance, which makes for longer battery life and means that Soitec products have a positive impact on the carbon footprint. On this flourishing market, it is important to ceaselessly innovate. Soitec therefore continues to invest in, and follow, its roadmap on the development of new RF-SOI products addressing these challenges. ‌Innovation Extraordinary technologies for making the highest-performing substrates A B Initial silicon A Oxidation Ionic implantation A Cleaning and bonding B The initial A wafer becomes a new A wafer 1 wafer: reused up to 10 times SOI wafer A A Electronic circuits are formed on the upper part of the substrate, which means the nature of the substrate material has a direct influence on the circuit's operation and performance. The lower parts of the substrates often perform functions of insulation, protection or heat regulation for the components. Capabilities offered by Smart Cut TM for combining different materials in the same substrate and controlling their various electrical, physical and chemical characteristics offer virtually unlimited combination possibilities, enabling performance that surpasses that of bulk substrates. Soitec's technologies, which cover both the transfer of layers and the growth of thin layers, provide an extremely powerful toolkit for developing highly innovative substrates. This year, R&D costs represent the equivalent of around 19.3% of annual Group revenue (gross R&D costs before capitalization in fiscal year 2025-2026), with the Group maintaining the necessary level of development to keep its product offering in line with market needs. Splitting Annealing and polishing Innovation ‌A global patent portfolio, protecting a unique competitive advantage With a portfolio of more than 4,700 active patents worldwide, Soitec's innovation strategy is based on disruptive solutions to address the Group's customers' needs for high performance, energy efficiency, cost competitiveness and reduced environmental impact. It is based on: a team of experts; Innovation and Product organizations working closely together to develop new technological solutions to meet customer needs; the creation of incubators to accelerate the emergence of disruptive solutions. ‌Soitec dedicates a significant portion of its resources and revenue to developing groundbreaking manufacturing processes and improving current ones. The average age of Soitec's patents is less than five years. The Group files around 500 patent applications each year, and for the ninth consecutive year, ranks among France's top 50 patent filers, alongside very large industrial groups. With 66 applications filed in 2025, Soitec came 25 th in the national ranking compiled by INPI, France's National Institute of Industrial Property. Soitec is now the 2 nd mid-sized French patent filer. Soitec's Smart Cut TM technology is protected by several hundred patents. These patents cover extensions of this technology to new products, improvements made during certain production stages as well as cost optimization within the production process. Soitec also files numerous patents each year on advanced and engineered substrates and other proprietary technologies. 01 In addition to its portfolio of patents, Soitec also obtains licenses from its industrial and research partners, thereby strengthening the protection of the inventions at the heart of our key technologies. This proactive intellectual property strategy is intended to protect the innovative nature of the Group's technologies, which Soitec can then make available to its licensees in the context of technology transfers. The license agreements that were entered into are consistent with market practices. The Company also enters into licenses with certain strategic partners, resulting in royalty payments. Strategic collaborations throughout the semiconductor value chain Soitec has established a unique position thanks to its various partnerships in the value chain. An active player in innovation, Soitec collaborates with world-class research centers (IMEC, Fraunhofer, CEA-Leti, A*STAR-IME, CNRS, etc.), universities (Stanford, University of California-Berkeley, NUS, NTU, UCL, Grenoble INP-Phelma, Grenoble Alpes University, etc.), international equipment manufacturers and industrial innovation platforms. Soitec creates unique partnerships around the world, such as the Substrate Innovation Center, set up in July 2018 with CEA-Leti. An R&D center open to the players across the industry, the Substrate Innovation Center aims to promote early-stage collaboration and knowledge-sharing within the semiconductor value chain, from substrates to systems. The center is geared to stimulate R&D related to engineered substrates (SOI or other materials). A dedicated pilot line is available to produce prototypes. ‌On December 12, 2024, Soitec announced the continuation of its research collaboration with the Microsystems Technology Laboratories (MTL) of the Massachusetts Institute of Technology (MIT). The collaboration covers research into innovative semiconductor materials for a range of applications, including mobile communications, power devices, sensors and quantum computing. Soitec is thus strengthening its presence in the North American semiconductor market further, intensifying its efforts in an industrial and regulatory context that is favorable to the sector's development. Soitec and Nanyang Technological University (NTU Singapore) announced the results of their joint research program on next-generation 6G connectivity during the Mobile World Congress (MWC) in March 2026. The collaboration confirmed the record efficiency of our specialized gallium nitride-on-silicon (GaN-on-Silicon) epitaxial substrates, achieving a power added efficiency (PAE) exceeding 50% at FR3 frequencies and millimeter waves (mmWave). Compared with traditional GaA-based solutions, GaN-on-Silicon offers higher output power, improved thermal management and reduced system complexity, while enabling smaller and more efficient RF modules and data center power supplies. Together, these breakthroughs pave the way for more compact and energy-efficient 6G base stations, as well as next-generation data centers, while accelerating the maturation of the global GaN ecosystem across both infrastructure and consumer markets. Soitec Belgium, a site dedicated to gallium nitride Soitec's Belgian site supplies Gallium Nitride-on-Silicon (GaN-on-Si) and Gallium Nitride-on-Silicon Carbide (GaN-on-SiC) epitaxial wafers. Its production capacity is gradually increasing: a major step was completed in fiscal year 2019-2020 with the installation and certification of a new, latest- generation MOCVD industrial reactor. These products are sold to integrated component or device manufacturers who build high-performance power and RF devices. ‌Product pipeline Soitec is developing a wide variety of new engineered substrates, in particular through incubators: ‌Wide bandgap substrates. These materials have unique properties that can have applications in many fields. Some make it possible to attain breakdown fields and electronic mobility that are far superior to those of silicon. Others can detect light as well as generate microwaves at low voltage. These properties make them ideal for use in devices that are faster, operate at higher frequencies and power levels, and consume less energy. Technologies for vertical integration of integrated circuits (ICs) . 3D integration, where layers of devices are stacked within a single circuit, enabling different components (memories, logics, ASICs) to coexist. 2.5D integration, which involves assembling chips within a single package. Soitec is developing technologies and substrates that address both types of approaches. Materials for handling qubits (quantum bits) in quantum computers. Qubits are the basic units for processing data in a quantum computer. Soitec is developing substrates designed to create efficient qubits. Emerging Business Lines The products that Soitec develops for new markets involve a certain adaptation phase. This is the case for wide bandgap semiconductor materials (GaN, SiC). Soitec therefore works with partners to propose and encourage the adoption of its substrates for more efficient operations. RF-GaN Gallium nitride (GaN) is a semiconductor that is increasingly used in RF applications because the material enables the manufacturing of smaller, more efficient components that operate at higher power. Base station antennas are beginning to be equipped with GaN components, and the trend is growing. Electronic component manufacturers are also considering producing GaN modules for 5G cell phones. The acquisition of EpiGaN (now Soitec Belgium N.V.) in 2019 allowed Soitec to enhance its product offering. Soitec now offers two lines of GaN - on-SiC and GaN-on-Si substrates in various sizes and structures to suit the application. Soitec is also preparing for the next generations with several R&D programs focused on delivering innovative, high-performance solutions. In 2023, Soitec presented the development of a new product, SmartGaN, to accelerate the adoption of GaN. For RF applications, this translates directly into significant savings and a lower power factor. For power applications, this allows a thicker layer of gallium nitride on top of the GaN seed layer while reducing the risk of the substrate breaking during thermal cycles. SmartGaN therefore opens the way to circuits that can operate at voltages in excess of 1,200 volts. The creation of a dedicated SmartGaN incubator ensures ambitious and rigorously managed technological development. SmartSiC TM Silicon carbide (SiC) is a strategic material for the widespread adoption of electric vehicles. Its properties improve the performance of devices such as diodes and metal oxide semiconductor field effect transistors (MOSFET), bringing competitive advantages for energy conversion over diodes and insulated gate bipolar transistors (IGBT) in silicon (Si). In power and energy conversion applications, SiC devices bring benefits including lower energy losses, higher switching frequencies, higher operating temperature, robustness in challenging environments and high breakdown voltages. From the end user's point of view, this means systems that consume less energy, are more compact and lightweight, and therefore less costly both to make and to use. For these reasons, SiC devices have gained pride of place in electric vehicle and charging infrastructure markets, and have become an undeniable catalyst in the development of these markets. Compared to Si devices, SiC devices bring an increase of at least 10% in travel range per charge, along with much shorter battery charging times. Conventional SiC substrates are difficult to produce, and high-quality substrates, capable of giving high production performance, are in short supply and very expensive. Using its exclusive Smart Cut TM technology, Soitec has developed a new range of substrates called SmartSiC TM , which address the current supply-chain challenges and bring unprecedented production efficiency and performance. While the temporary slowdown in the electric vehicle market and longer qualification processing times for our customers have slowed the SmartSiC TM roadmap, Soitec continues to promote its product with global actors in the industry for applications beyond electric vehicles. In particular, the rapid growth of AI is imposing new energy efficiency standards for data center power systems, which are becoming ever denser and more energy-intensive. SmartSiC™ technology acts as a lever for reducing power losses in these critical infrastructures. Production 01 ‌Production FRANCE RF-SOI PHOTONICS-SOI POWER-SOI SOITEC BERNIN 1 France 750K WAFERS/Y. MAX CAPACITY 200mm SOI 1.2M wafers/y. BERNIN 1 SIMGUI SINGAPORE RF-SOI FD-SOI OTHER SOI PRODUCTS SOITEC PASIR RIS Singapore 1M WAFERS/Y. MAX CAPACITY EXTENSION OF SOITEC PASIR RIS 1M WAFERS/Y. MAX CAPACITY RF-SOI IMAGER-SOI PHOTONICS-SOI FD-SOI SOITEC BERNIN 2 France 800K WAFERS/Y. MAX CAPACITY POI SOITEC BERNIN 3 France 1M WAFERS/Y. MAX CAPACITY 300mm SOI 2.8M wafers/y. BERNIN 2 PASIR RIS PASIR RIS EXTENSION 150/200mm POI 1M wafers/y. BERNIN 3 SMARTSiC TM SOITEC BERNIN 4 France 350K WAFERS/Y. MAX CAPACITY PARTNERSHIP - CHINA POWER-SOI RF-SOI SIMGUI SHANGHAI China 450K WAFERS/Y. MAX CAPACITY 01 OVERVIEW OF SOITEC AND ITS BUSINESSES Production ‌Soitec has manufacturing facilities, R&D centers and offices in Europe, the United States and Asia to serve its customers on a global scale. Soitec's agile manufacturing model is tailored to support profitable growth. The Group focuses on operational excellence and seeks to create value for all its stakeholders. It delivers highly innovative solutions to the marketplace, which push the limits of conventional semiconductors to drive advances in consumer and industrial applications. Engineered substrates are growing into a multi-billion-dollar market of which Soitec has a significant share that the Group will develop further in the coming years. Production sites in France The Bernin 1 (200 mm wafer production) and Bernin 2 (300 mm wafer production) plants have an annual production capacity of 750,000 and 800,000 wafers respectively. Bernin's capacity to recycle 300 mm wafers is 600,000 units per year. Soitec is continuing to upgrade Bernin's manufacturing infrastructure, in line with expected demand, to ensure an effective response to future growth challenges. Through optimized clean rooms, industrial infrastructure and manufacturing processes, Soitec has significantly expanded the manufacturing potential of its POI substrates line at Bernin 3, to be able to reach a capacity of 1,000,000 wafers per year. ‌The flexibility of Soitec's industrial model should enable the Group to reallocate part of the capacity of the Bernin 1 plant to the production of other products, in order to better meet demand from its customers. This adjustment, for example, enabled Soitec to increase annual production capacity of POI substrates from 700,000 to 1,000,000 wafers, by maximizing the use of the existing facilities. Following this reallocation, Bernin 1's annual SOI production capacity decreased from 1,000,000 to 750,000 200 mm wafers. In September 2023, Soitec inaugurated its new plant, Bernin 4. Covering an area of 2,500 sq.m., the plant has capacity to produce 150,000 SmartSiC™ wafers per year, for a maximum potential of 350,000 wafers. It contributes to Soitec's sustainable growth strategy and will strengthen its leadership position in the strategic semiconductor materials market. Concerned with reducing its environmental impact and optimizing its industrial capacity, the Group has decided to allocate almost 20% of the plant's area to the recycling activity for 300 mm SOI wafers. Production site in Singapore ‌Since the launch of the pilot line in September 2017, Pasir Ris has continued its ramp-up, achieving a production capacity of around 800,000 300 mm wafers per year at the end of fiscal year 2025-2026, and is qualified for both RF-SOI and FD-SOI products. The fab is currently undergoing qualification for the production of Photonics-SOI and Power-SOI substrates. In the long term, the Pasir Ris site will reach an annual capacity of 1,000,000 wafers per year, to match customer demand for 300 mm SOI wafers. In line with the strategy of expanding capacity to meet the growing demand for its products, Soitec initiated the expansion of its production capacity at Pasir Ris, and began construction in December 2022. When completed, the expansion will double the production capacity of the Pasir Ris site to 2,000,000 wafers per year. Production capacities will be adjusted in line with customer demand. Production partnership in China In 2014, Soitec entered into a partnership with Shanghai Simgui Technology Co. Ltd. (Simgui), a Chinese company, for 200 mm wafer production. The installed capacity is now 450,000 wafers per year. On March 13, 2026, Soitec and National Silicon Industry Group Co., Ltd. (NSIG) agreed to continue their partnership through a 10-year extension to their licensing framework, in response to growing Chinese demand for Soitec's SOI products and technologies. The agreement with NSIG subsidiaries Simgui and Simwings expands the existing licensing framework with no new technology transfer and a joint commitment to strengthen Soitec's SOI intellectual property rights in China. It reinforces Soitec's position in China's fast-growing engineered substrates market. Soitec customers are key strategic partners 01 ‌Soitec customers are key strategic partners Soitec sells its engineered substrates to integrated circuit designers and manufacturers called integrated device manufacturers (IDMs) or to semiconductor manufacturers called foundries. Its customers are located all over the world. ‌Soitec liaises closely with its customers (IDMs, foundries) as well as the customers of these foundries (fabless). This results in a collaborative design process for product properties, performance and roadmaps in line with customer needs and market release schedules. Program managers and application engineers are permanently in the field to help the Group's customers design, manufacture and test the components developed using Soitec's substrates. The Group is a key strategic partner to its customers, through firm commitments on innovation, value creation and rigor. Soitec's expanding product portfolio enables it to meet the needs of a growing number of customers. By the end of fiscal year 2025-2026, the total number of customers was up by almost 40% on fiscal year 2020 - 2021. This increase was also seen in intermediate-sized customers (revenue in excess of US$1 million per year). This broadening of the customer base naturally reduces concentration risk, thereby strengthening the Group's resilience. Intensifying the Group's quality commitment Soitec's strategic development focuses include customer recognition for product and service quality. During the fiscal year, Soitec pressed on with the momentum initiated in 2020 and stepped up its programs on operational and organizational excellence. Quality-oriented initiatives in fiscal year 2025-2026 included: continuing to work with its partners and customers to achieve the highest quality rankings, which are evaluated quarterly by its customers; continuing to foster employee engagement through Quality Awards, which have been recognizing outstanding achievements since 2021. Open to all Soitec employees worldwide, this initiative reinforces a culture of collaboration and excellence. In 2025, several exceptional projects were recognized for their innovation, impact, and connection with Soitec's commitments; participating in World Quality Week: internal workshops and challenges were organized to ensure every employee, from operator to engineer, understands the role they play in the final value delivered to the customer. In 2025 at the Bernin site, employees created a board game (board and Q&A cards) on certification standards and had their colleagues play during World Quality Week; continuing to prepare for the upcoming ISO 9001:2026 review: training programs were reinforced and awareness-raising campaigns on quality habits were targeted to specific professions; actions were also extended to promote business continuity, particularly in relation to the impact of climate change. Ensuring quality products and services is essential for Soitec's long-term growth. This commitment drives the development of innovative products, focusing on customer satisfaction, quality, and respect of delivery deadlines. 01 OVERVIEW OF SOITEC AND ITS BUSINESSES Competitive landscape ‌Competitive landscape Two types of competition are analyzed: other manufacturers of engineered substrates (mainly SOI), and competition from alternative technologies. Competition also varies depending on the product. In the artificial intelligence sector, FD-SOI and Photonics-SOI products compete with players such as Shin-Etsu Handotai (SEH) and GlobalWafers, among others. Soitec offers a diverse product portfolio in the Mobile Communications sector, including FD-SOI, POI and RF-SOI, and competes with groups such as GlobalWafers, SEH and NGK, among others. Lastly, in the Automotive & Industrial sector, Soitec's Power-SOI and FD-SOI products face competition from companies such as GlobalWafers and SEH, among others. Bulk silicon, other bulk compound materials and bonded SOI technology remain alternatives to Soitec's engineered substrates for certain applications or customers. Soitec has licensed its SOI patents to SEH. SEH is a major player in the Group's ecosystem: it is both a strategic supplier for 200 mm and 300 mm bulk wafers and a competitor, as well as a minority shareholder. These three activities are clearly segregated and independent: supplier discussions occur through procurement and innovation groups following standard processes; SEH obtained a patent license for the SOI technology in 1997, which was renewed in March 2023 for a 10-year period. The license requires no operating interaction beyond declaring their sales for the calculation of royalties; an SEH representative continues to serve on the Board of Directors in strict compliance with competition law and the rules for managing conflicts of interest described in particular in section 4.1 of this Universal Registration Document. Soitec also extended its license granted to Simgui for the manufacture, exclusively in China, and sale, exclusively to the Group, of certain 150 mm and 200 mm SOI products using Smart Cut™ technology. 300 mm SOI was included in this license without any further technology transfer, alongside the right for Simgui to manufacture and sell products exclusively in China. GlobalWafers was previously licensed under Soitec SOI patents. The Group terminated this license agreement with GlobalWafers on October 31, 2023. GlobalWafers contested this termination in court. In July 2025, the parties reached an agreement and agreed to terminate supply and cross-licensing agreements dating back to 2013. Group organization chart 01 ‌Group organization chart The organization chart below presents the Group, including the Company and its subsidiaries within the meaning of Article L. 233-1 of the French Commercial Code ( Code de commerce ), at the date of publication of this Universal Registration Document. Soitec Korea LLC 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% Soitec Lab SAS CPV Power Plant No. 2 (Pty) Ltd.* FRANCE Soitec Microelectronics Singapore Pte Ltd. 100% 100% Soitec Solar France SAS 100% 100% Soitec Japan Inc. Soitec Belgium N.V. Soitec Trading (Shanghai) Co. Ltd. Soitec USA Holding Inc. 100% 100% Soitec Asia Holding Pte Ltd. Soitec USA LLC Soitec Solar Development LLC Soitec Solar Industries LLC TAIWAN Concentrix Holding SAS Soitec Solar RSA (Pty) Ltd. 100% 100% 100% NOVASiC SAS Soitec NewCo 4 SAS Soitec NewCo 3 SAS Soitec NewCo 2 SAS * Company currently in liquidation Dormant companies - See section 5.1 and note 4 Consolidation principles in Chapter 6 of this Universal Registration Document for the Solar Energy business. 34 SOITEC I 2025 - 2026 UNIVERSAL REGISTRATION DOCUMENT 02 ‌Risk factors and control environment Risk factors and control mechanisms 36 Global geopolitical and economic context 36 Climate change and ecological transition 36 Risk mapping specific to the Group and its industry 37 2.1.5 Summary of specific risks by category and criticality 39 2.4 Compliance with laws and regulations 57 2.4.1 Regulatory environment 57 2.2 Internal control and risk management 48 2.4.2 Legal, administrative and arbitration proceedings 57 2.2.1 Reference framework and scope 48 2.2.2 Risk management and control environment 48 2.2.3 Key roles in internal control and risk management 50 2.2.4 Internal control mechanism 52 2.2.5 Risk management 53 2.2.6 Internal control procedures and accounting and financial reporting 54 Presentation of specific risk factors by category 38 Insurance and risk hedging 56 Overview of the insurance policy 56 Description of insurance policies 56 Foreign currency risk hedging policy 56 ‌Risk factors and control mechanisms Due to its global presence and business sector, the Group operates in a constantly changing environment. It is therefore exposed to various endogenous and exogenous risks, which could have a significant negative impact if they were to materialize. To navigate this environment, Soitec has put in place a proactive risk management policy to prevent and respond effectively to any internal or external threats likely to affect its financial position, business, reputation or the achievement of its objectives. This policy is based on the reference framework of the French financial markets authority ( Autorité des marchés financiers - AMF ) published in July 2010 (see section 2.2.1 Reference framework and scope ). The latest version of the risk map was reviewed and validated by the Audit and Risks Committee and the Board of Directors at their meeting on March 24, 2026. ‌A summary of the main risks is presented in section 2.1.5 Summary of specific risks by category and criticality. The process of prioritizing risk factors is described in section 2.2.5.2 Risk mapping - Soitec's approach . Pursuant to Article 16 of the "Prospectus" Regulation (EU) of June 14, 2017 as supplemented by the Delegated Regulation (EU) of March 14, 2019 and the Guidelines issued by the European Securities and Markets Authority (ESMA), this chapter presents the specific risks that are considered to be significant for the Group and which could potentially, on the basis of the assessment method (see section 2.2.5 Risk management ), impact the Group's business and financial position at the date of this Universal Registration Document. Risks may occur individually, but they may also impact each other, particularly the geopolitical risk. Global geopolitical and economic context Growing geopolitical tensions, political instability in certain countries and recent conflicts are severely impacting the global economy, which is evolving against a backdrop of heightened uncertainty and volatility. This context creates situations that may directly or indirectly impact the Group's business, such as stricter and more unpredictable international regulations, higher tariffs due to tensions between different countries, the tightening of export control restrictions (in particular the United States and China) and temporary or permanent changes in supply chains. Current conflicts (notably Russia-Ukraine and the United States-Israel-Iran) may have an impact on certain supplies, leading to higher oil, electricity and logistics costs and this inflationary environment may in turn have an impact on the Group's costs. ‌In addition to inflation, the geopolitical context has an influence on exchange rates which impact our operations, particularly in terms of EUR/ USD exchange rates (see section 2.1.5.4.1 Exchange rates ), and could lead to changes in the purchasing behavior of direct customers and end users. This geopolitical risk factor has been taken into account in the Group's risk analysis, and all the actions being taken in the short and medium term are helping limit the financial impact on its business at the date of publication of this Universal Registration Document (see section 2.1.3 Risk mapping specific to the Group and its industry ). In parallel with this tense geopolitical context, the Group remains concerned about environmental matters and is pursuing its trajectory of reducing its energy and supply source needs in order to ensure alignment with its commitments on climate and the energy transition (see section 3.3.1 Climate change [ESRS E1] ). The Group constantly monitors these events and trends and their potential operational and/or financial impacts on the Group's business are taken into account in projections and risk analyses. Climate change and ecological transition The Group's exposure to climate change and the ecological transition is assessed each year during the comprehensive review of risk factors, taking into account both exogenous and endogenous risks. At the same time, taking action on sustainable development, whether at the regulatory level or in terms of the Group's commitments and the achievement thereof, is becoming a challenge for the years ahead, and could have an impact on Soitec's performance and image if the Group is not in step with these expectations. As such, the Group is committed to a decarbonization pathway aligned with the 1.5°C objective of the Paris Agreement for Scopes 1 and 2, and the 2°C objective for Scope 3, currently being validated by the Science Based Targets initiative (SBTi) (see section 3.1.4.4 Material impacts, risks and opportunities (IROs) and their interaction with strategy and business model [SBM-3] ) In Chapter 6, section 6.2.1.2, note 3.4 Consideration of risks related to climate change provides additional information on how risks and impacts are taken into account in the consolidated financial statements. The non-financial impacts of climate change are discussed in Chapter 3 of this Universal Registration Document . RISK FACTORS AND CONTROL ENVIRONMENT Risk factors and control mechanisms ‌Risk mapping specific to the Group and its industry The risk mapping has been prepared using the methods and assessment criteria described in the following sections. Risks are mapped by the Group during the risk review process, with reference to the risk management and control environment (see section 2.2.2 Risk management and control environment ). Methodology Each risk is identified, analyzed and assessed during the risk review process and then recorded in a general matrix (see section 2.2.5.2 Risk mapping -Soitec's approach ). This general matrix is then used to map risks by category (ecosystem, innovation, supply chain, finance, data and security, social and environmental, etc.) and to rank risks by criticality level. The criticality levels used to rank the Group's risks are as follows: critical; major; moderate; and low. Risk assessment criteria 02 As was the case last year, for this year's risk mapping exercise, the assessment of the criticality level included the level of control. It is used to assess the net risk by applying a weighting criterion to the gross risk as described below. The net level of criticality is assessed based on three criteria: financial impact, in terms of EBITDA or share price, on a scale from 1 (non-material) to 5 (critical); estimated probability or occurrence, on a scale from 1 (unlikely) to 4 (certain); the level of control over the gross risk, ranging from 0.5 (strong) to 1 (non - existent or impossible). By combining these three criteria, the risk can be categorized under one of the above four levels of criticality, as shown in the diagram below. x x = IMPACT PROBABILITY LEVEL OF CONTROL NET RISK Non-material Low Moderate 4 Major 5 Critical Unlikely (May occur at least once after 8 years) Possible (May occur once every 4 to 8 years) Probable (May occur once every 2 to 4 years) Certain (May occur at least once within 2 years) 0.5 Strong 0.7 Partial 0.9 Low 1 Non-existent or impossible <3 Low 3-4 Moderate 5-9 Major >9 Critical Specific risk map Updating the Group's risk mapping allowed us to reassess risk factors and classify them according to their level of criticality: low, moderate, major and critical (see section 2.1.3.1 Methodology ). Only "major" and "critical" risks are presented in the risk map (see section 2.1.4 Presentation of specific risk factors by category). Five risks have been assessed as critical and seven as major, given their potential impact, level of control and the probability of them materializing. The risks presented in this chapter are sorted by type and criticality and represent 12 risks that are specific to the Group, in the industry and business environment, grouped into seven categories: risks related to the ecosystem; risks related to innovation; risks related to the supply chain; financial risks; data and security risks; social risks; environmental risks. The risk map was reviewed and approved by the Audit and Risks Committee and the Board of Directors on March 24, 2026. In accordance with the provisions of Article 16 of Regulation (EU) 2017/1129, only the risks that are specific for the Group up to the date of filing this Universal Registration Document and which could have a net impact that is likely to influence investment decision-making are presented in this chapter. As a reminder, at the date of filing of this Universal Registration Document, other risks may exist that have not yet been identified, or whose occurrence is not considered likely to have a significant adverse net impact on the Group. The information below contains assumptions and estimates that by definition may turn out to be incorrect. ‌Presentation of specific risk factors by category In accordance with the provisions of Article 16 of Regulation (EU) 2017/1129, the risk factors identified in the seven risk categories are ranked in order of materiality, from the highest to the lowest risk, with the most material risks listed first in the matrix below, according to the Group's assessment at the date of this Universal Registration Document (URD). The matrix below only shows specific, significant and corroborated risks. The risk map includes the following: net risk is presented along the x-axis, with a scale representing a risk level ranging from minor to critical; likelihood of the risk factor materializing is presented along the y-axis, ranging from unlikely to certain. Probable Certain In accordance with European Corporate Sustainability Reporting Directive (CSRD) requirements, non-financial risk factors related to sustainability matters are presented separately in Chapter 3 Sustainability report of this Universal Registration Document. Information security & cyber threats Adoption of technology or products Intellectual property protection Technology & product development Price fluctuations Availability of water resources Competitive market Geopolitical environment & global economy Exchange rates Market forecasts & volatility Talent attraction & retention Production shutdown PROBABILITY Unlikely Possible Low Moderate Major Critical NET RISK Trend Ecosystem Innovation Supply chain Finance Data & security Social Environment

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