AT & S Austria Technologie & Systemtechnik Aktiengesellschaft | Fabriksgasse13 | A-8700 Leoben Tel +43 (0) 3842 200-0 | E-Mail info@ats.net

www.ats.net

AT&S first choice for advanced applications

Company Presentation

April 2016

1

Company Overview

Strategy & Market

Annex

Financials

Table of Contents

2

AT&S – a world leading high-tech PCB company

Megatrend-driven markets with attractive growth potential

Entering a new high-end business segment by 2016

Pure high-end segment play Technology & quality leader Largest European PCB

producer Partner of choice for blue

chip customer base Balanced industry portfolio

Strong Asian production footprint with focus on high volume/low mix

European footprint: high mix/low volume

Operational excellence: Outstanding process know-how, productivity and efficiency

One of the most profitable players in the industry: above industry EBITDA margins

Strong cash flow generation Proven long term successful

financial track record

AT&S – Key Facts

Strong track record 1 Balanced portfolio / Global customer base 2

7%

€ in millions

3

Split revenue: Business Unit, Q1-Q3 2015/16

Split revenue: Customer Region, Q1-Q3 2015/16 based on sold to party

23%

6%

14%

57%

Germany/Austria

Other Europeancountries

Asia

Americas

488 514

542 590

667

489

584

96 103 102 127

168 127 140

47 42 31 54

90 71 76

2010/11 2011/12 2012/13 2013/14 2014/15 Q1-Q32014/15

Q1-Q32015/16

Revenue EBITDA EBIT

+5% +5% +9% +13%

+19%

Revenue growth

60%

40% Mobile Devices &Substrates

Automotive,Industrial, Medical

4

Global footprint ensures proximity to supply chain & cost efficiency

European production facilities: high mix/low volume Asian production facilities: high volume/low mix

Sales network spanning three continents 8,688 employees*

Plant Shanghai, China Staff: 4,636*

Plant Ansan, Korea Staff: 276*

Plant Nanjangud, India Staff: 1,167*

Plant Chongqing, China under construction Staff: 1,289*

Plant Leoben, Austria Headquarters Staff: 911*

Plant Fehring, Austria Staff: 373*

AT&S sales offices AT&S plants

*Average, FTE, Q1-Q3 2015/16; 36 employees in other locations

► volatility due to seasonal effects

5

Balanced high-end product portfolio to level seasonality

Characteristic

Selected Applications

Segment

1) Based on external revenue € in millions in Q1 2015/16

Mobile Devices & Substrates

Advanced Packaging

Selected Market Leaders

GoPro

Sony

LG

Canon

Qualcomm

Blackberry

Lenovo

Huawei

Samsung

Xiaomi

ZTE

Intel

Apple

► stable business due to longer product life time

Includes the segment Advanced Packaging (in the process of being established) as well as group management and financial activities

Others

(Revenue € in millions)

(Revenue € in millions)

Automotive, Industrial, Medical

Revenue Share1)

Communication

Computing

Automotive: Lighting, thermal, sensors, safety, infotainment, powertrain

Medical: Patient monitoring, therapy, diagnostic

Industrial: Instrumentation & control, power solutions, lighting

Consumer Electronics

Osram

Hella

Siemens

General Electric

Continental

Harmann

EADS

Texas Instruments

ST Microelectronics

Freescale Semiconductor

RFMD

TDK-Epcos

Qualcomm

60%

40%

68.0 88.7

120.9 104.5 115.9 112.2 123.4

Q1 14/15 Q2 14/15 Q3 14/15 Q4 14/15 Q1 15/16 Q2 15/16 Q3 15/16

72.6 71.7 65.9 72.6 77.8 79.5 72.7

Q1 14/15Q2 14/15Q3 14/15Q4 14/15Q1 15/16Q2 15/16Q3 15/16

6

Company Overview

Strategy & Market

Annex

Financials

Table of Contents

AT&S Positioning Strategy

Strategic focus on high-end technologies

High-end HDI PCBs and IC-Substrates

~30%

High-end technology share > 70% HDI and Anylayer PCBs, Embedding

Complementary technology share: <30%

SS, DS, ML, Flex, RF

Structure of general PCB market – based on technologies

Single-sided (SS), double-sided (DS), multilayer- (ML), flex and rigid-flex (RF) PCBs

~70%

AT&S Revenue structure in 2014/15 - based on technologies

7

Strategy: Selecting segments and applications

Market segments – selected by AT&S:

Mobile Devices & Substrates Automotive Industrial Medical

Attractive, specific application growth:

> 10 %

Potential for sustainable high EBITDA margins :

> 20 %

Technological fit: dense structures:

35 - 60 micrometer

Criteria for selection

Smartphones, Tablets, Ultrabooks, Wearables ..

Navigation, Advanced Driver Assistance Systems, Infotainment..

Machine-2-Machine Communication, Industrial Computer…

Hearing Aids, Patient Monitoring ..

1 2 3

Specific applications that show attractive, overall growth within our addressed market segments :

8

9

Market Player/Position HDI Technology

Source: Prismark, August 2014; NTI CY2013; AT&S Strategy

Market position HDI Technology

Revenue (US$ in millions)

Rank Country Supplier HDI Non HDI

PCBs IC-

Substrates Total

revenue

1 TWN Unimicron 682 671 795 2,148

2 TWN Compeq 538 509 - 1,047

3 AUT AT&S 530 248 - 778

4 KOR SEMCO 480 173 1,212 1,865

5 JPN Ibiden 426 - 1,080 1,506

6 USA TTM 406 962 - 1,368

7 TWN Zhen Ding 343 1,774 - 2,117

8 TWN Tripod 305 1,077 - 1,382

9 KOR DAP 279 21 - 300

10 TWN Unitech 236 304 - 540

Source: AT&S; Prismark (2015), JMS (2014), YOLE (2015) Advanced Packaging represents the “Embedded die – package” forecast. FC-Substrates represents “FC-BGA” and “FC-CSP” package substrates.

Market per Segments 2014 – 2019 [US$ in millions]

The Total PCB & Substrate Market will reach around 70 bn US $ in 2019

Overall Market development

Market per Technology 2014 – 2019 [US$ in millions]

10

CAGR 4% CAGR 4%

The world is changing – miniaturisation & modularisation as main drivers

11

2003/04 2013 2016 2024

?

Type Mobile Phone Smartphone System in Package All in One

PCB 125x55mm 85x20mm 30x30mm 20x20 ?

Form Factor 1 0.25 0.13 0.06 ?

Line/Space 100/100µm 40/40µm 30/30µm 20/20µm ?

Technology 1-n-1 Anylayer Anylayer&Embedding ?

12

AT&S’ advanced technology solutions

General Description & Technology Application Areas Customer Base Market Size

High-End (HDI) PCBs

PCBs are the interconnection platform for electric, electronic & mechanical components (such as resistors , capacitors, IC’s,

connectors; etc.) Density: Line/ Space > 35 micron

Computer, Consumer, Communication, Automotive

Industrial, Medical

OEM´s Tier 1 Tier 2

AT&S addresses a market of

USD 5.8bn *

Substrate-like PCBs

Substrate-like PCBs are the next evolution of high-end HDI PCBs with higher density: Line/Space 20-30micron

Wearables and applications of the “Internet of Things”

OEM’s Tier 1 Tier 2

Technology in introduction, part of High –end HDI

and Low-end Substrate market

* AT&S addresses part of a total market of USD 47.5bn/ source: Global Production Value 2014, Prismark, March 2015

13

* AT&S addresses part of a total market of USD 7.6bn/ source: Global Production Value 2014, Prismark, March 2015;) ** Source: AT&S; Prismark (2015), JMS (2014), YOLE (2015); Advanced Packaging represents the “Embedded die – package” forecast. IC (FC)-Substrates represents “FC-BGA” and “FC-CSP” package substrates.

General Description & Technology Application Areas Customer Base Market Size

IC Substrates

IC-Substrates serve as interconnection platform with higher density (Line/Space < 15 micron) between

semiconductors (Chips) & PCBs

High-end processors for Computer, Communication,

Automotive, Industrial

OEM’s Semiconductor

Industry

AT&S addresses a market of

USD 5.1bn *

Embedded Component Packaging

(ECP®)

Embedded Component Packaging allows to embed active/passive components (e.g. wafer level dies) within the

layers of a PCB – contributes to miniaturisation

Power Electronics, e.g. for

Automotive, Industrial

OEM’s

Semiconductor Industry

AT&S addresses a

market of USD 210m **

AT&S’ advanced technology solutions

Growth Project Chongqing – IC-S & Substrate-like PCBs

Building 1: IC Substrate plant Specifications: Clean Room Class < 100

Building 2: Substrate-like PCB plant Specifications: Clean Room Class < 10,000 to

< 1,000 in special areas

14

Growth Project Chongqing – Overview

15

Location: Chongqing, Central China

Total investment: € 480m in first phase (until mid 2017)

Expected CAPEX-revenue ratio: mean of 0.9 (at full expansion – incl. second phase)

Start of High Volume Mass Production > IC Substrates: February 2016 > Substrate-like PCBs: expected second half 2016

* at full expansion (incl. a second phase not yet scheduled) ** Capex for tangible fixed assets

Plant I Plant II

Products: IC Substrates Substrate-like PCBs

Capacity: 150,000 sqm/p.a.* 200,000 sqm/p.a.* Investment** Phase 1: ~ € 280m ~ € 200m Investment** as of 31/12/2015: € 195.6m € 45.3m

16

Driving Future Trends in Customer Segments: Internet of Things (IoT) and Application Structures

Healthcare

Glasses Wearable Electronics

Smart Mobility Autonomous Driving

Car2Car Communication

Smart City Smart Lighting

Smart Buildings Home/Building Automatisation

Energy Management

Smart Production/Industry 4.0 Automatisation/Robotics

Production Control Systems

Smart Healthcare Connectivity (e.g. online patient monitoring)

Smart Energy Smart Metering

30-50 billion of „Things“ will be connected in 2020

Wearables market forecast: USD 10 – 60 billion by 2018 Source: IHS, 2013

17

Company Overview

Strategy & Market

Annex

Financials

Table of Contents

18

Sound top-line growth, above industry margins and increasing cash conversion

488 514

542 590

667

489

584

96 103 102

127

168

127

140

19.7% 20.1% 18.9%

21.6%

25.1% 26.0% 24.0%

€ in millions

71

87

72

105

144

95

130

Revenue Y-O-Y growth

Operating Cash Flow Y-O-Y development

EBITDA and EBITDA-margin

Continuous growth path up to full capacity utilisation

Revenue with products out of Asian production increased from 69% in 2010/11 to 81% in Q1-Q3 2015/16

EBITDA increase due to good product mix and high capacity utilisation

EBITDA margin guidance FY 2015/16: >19% due to impact from ramp-up Chongqing plant

Operating cash flow generation driven by strong EBITDA performance

€ in millions € in millions

19

Capex & Staff

CAPEX CAPEX reflects investments in Chongqing project (whereof € 122.1m) and technology investments in existing locations .

113

40

90

165

130

177

2011/12 2012/13 2013/14 2014/15 Q1-Q32014/15

Q1-Q32015/16

STAFF* The increased headcount is primarily based on the Chongqing project.

7,417 7,321 7,027

7,638

8,688

2011/12 2012/13 2013/14 2014/15 Q1-Q3 2015/16

123 609 54 1,289

* incl. leased personnel, FTE, average for the period (€ in millions)

Core business Employees project Chongqing

Financials Q1-Q3 2015/16

20

€ in thousands (unless otherwise indicated)

01.04.2015 – 31.12.2015 01.04.2014 – 31.12.2014

STATEMENT OF PROFIT OR LOSS

Revenue 584,333 489,416

produced in Asia 81% 79%

produced in Europe 19% 21%

EBITDA 140,233 127,284

EBITDA margin 24.0% 26.0%

EBIT 76,074 70,811

EBIT margin 13.0% 14.5%

Finance costs - net (2,664) (4,376)

Income Taxes (13,182) (16,097)

Profit for the period 60,228 50,338

Cash Earnings 124,292 106,751

EPS in € 1.55 1.29

EBITDA increase of 10.2% based on high capacity utilisation and good product mix; Positive FX effects of € 10.9m included.

Revenue increase of 19.4%: 7.6% from organic growth and 11.8% from FX effects.

Higher interest expenses overcompensated by higher interest income and capitalised interests for qualified assets

EBITDA margin decline in comparison to very high benchmark of 26.0% in Q1-Q3 2014/15

21

Profit for the period and earnings per share

Earnings per share increased by 19.6%

23.3 23.3 23.3

30.8

38.9 38.9 38.9

1.51 1.14 0.62 1.24 1.78 1.29 1.55

-20

-15

-10

-5

0

0

10

20

30

40

50

2010/11 2011/12 2012/13 2013/14 2014/15 Q1-Q32014/15

Q1-Q32015/16

Number of shares, average number; in million pcs. Earnings per share; in €

Financials Q1-Q3 2015/16

22

€ in thousands (unless otherwise indicated) 31.12.2015 31.03.2015

STATEMENT OF FINANCIAL POSITION

Non-current assets 836,746 712,757

Current assets 639,343 508,055

Equity 599,649 604,358

Non-current liabilities 548,189 413,070

Current liabilities 328,251 203,384

Total assets 1,476,089 1,220,812

Net debt 192,420 130,510

Net gearing 32.1% 21.6%

Net working capital 81,271 95,319

Net working capital per revenue 10.4% 14.3%

Equity ratio 40.6% 49.5%

Improvement of net income was overcompensated by negative FX effects

23

Financial debt, cash and net debt

212

273 299

372

405

18 31

82

261 274

194

243

217

111 131

2010/11 2011/12 2012/13 2013/14 2014/15

Gross debt Cash Net debt

24

Net debt/EBITDA

2.0

2.3 2.1

0.9 0.8

2010/11 2011/12 2012/13 2013/14 2014/15

Expected multiple in temporary peak of Chongqing investments: < 3.5x

25

Overview Debt Portfolio Duration

Maturity

€ in millions < 1 Year 1-5 Years > 5 Years Total

Corporate Bond 82.3 - - 82.3

Export Loans

32.0 - - 32.0

Public funds and other - 2.7 1.4 4.1

Bank Borrowings 16.8 381.9 102.3 501.0

Total 31/12/2015 131.1 384.6 103.7 619.4

Total 31/03/2015 46.0 321.6 37.7 405.3

Average debt portfolio duration: 4.0 years (2014/15: 3.8 years) Average financing costs of 2.7% 153m € of credit lines not utilised

Refinancing 2015/16

Financials Q1-Q3 2015/16

26

€ in thousands 01.04.2015 – 31.12.2015 01.04.2014 – 31.12.2014)

STATEMENT OF CASH FLOWS

Profit for the period 60,228 50,338

Non cash bearing of profit or loss 63,195 65,442

Changes in Working Capital 6,475 (20,406)

Cash flow from operating activities 129,898 95,374

Cash flow from investing activities (175,667) (130,433)

Cash flow from financing activities 204,117 16,838

Change in cash and cash equivalents 158,348 (18,221)

Decrease in Net Working Capital due to improved customer payment term.

Continuous planned high CAPEX based on investments in Chongqing and continuous upgrades of existing production facilities.

27

Net Working Capital Management

Net Working Capital Development - € in millions and in % of revenue

92

103

92 95

81

18.0% 19.0%

15.6%

14.3%

10.4%

2011/12 2012/13 2013/14 2014/15 Q3 2015/16

Net Working Capital development Net Working Capital % of revenue

AT&S - Stock Profile

Listing: Vienna Stock Exchange,

Prime Standard

Indices: ATX, WBI

ThomsonReuters (A): ATSV.VI

Bloomberg (A): ATS AV

Annual Results 2015/16 10 May 2016

Record Date Annual General Meeting 27 June 2016

22nd Annual General Meeting 07 July 2016

Ex-Dividend Day 26 July 2016

Record Date Dividend 27 July 2016

Dividend Payment Day 28 July 2016

Results for the first quarter 2016/17 28 July 2016

Results for the first half-year 2016/17 03 November 2016

28

Financial Calendar 1 year development / Daily volume

ATX

AT&S

# of shares outstanding 38.85m

Avg. daily volume: 65.400 shares

Performance ytd: -11.40%

Performance 1 year: -11.76%

Dividend 2014/15: EUR 0.36/per share

Dividend yield: 2.5%

29

14.9% of Free Float not identified

AT&S – Shareholder structure

30

Outlook FY 2015/16

Management expects the satisfactory capacity utilisation to continue for the financial year 2015/16 provided that the macroeconomic environment remains stable and customer demand continues at a good level.

On the basis of the organic growth in the first nine months, an expected seasonality in the next three months, management confirms its revenue guidance of EUR 740 million.

Influenced by the expected costs of the start-up of the new plants in Chongqing, the EBITDA margin should exceed 19% (guidance at the beginning of the financial year: 18-20%). This includes an EBITDA margin in the core business at a similar level of the previous year.

31

Company Overview

Strategy & Market

Annex

Financials

Table of Contents

32

AT&S Product Portfolio

HDI any-layer printed circuit

boards

HDI microvia printed circuit boards – high density interconnect

Multilayer printed circuit boards

Double-sided printed circuit boards

IMS printed circuit boards – insulated

metal substrate

Further technological enhancement to HDI microvia: All electrical connections in HDI any-layer boards consist of laser-drilled microvias. Advantage: further miniaturisation, and higher performance and reliability. AT&S produces HDI any-layer in 4 to 12 layers.

HDI: high density interconnect, meaning laser-drilled connections (microvias). HDI is first step towards miniaturisation. AT&S can produce 4-layer laser PCBs up to 6-n-6 HDI multi layer PCBs.

Found in almost every area of industrial electronics. AT&S produces printed circuit boards with 4 to 28 layers, in quantities from individual prototypes to small batches and mass production.

Used in all areas of electronics. AT&S focuses on double-sided printed circuit boards with thicknesses in the range of 0.1-3.2 mm.

IMS: insulated metal substrate. Primary function: heat dissipation for use mainly with LEDs and power components.

Production site Shanghai

Shanghai, Leoben

Leoben, Nanjangud, Fehring

Fehring, Nanjangud

Fehring

Applications Smartphones, Tablets, Notebooks

Mobile phones and nearly all electronic applications including automotive (navigation, infotainment and driver assistance systems)

Used in all electronic applications including touch panels, and in products ranging from aircraft to motorcycles, from storage power plants to solar arrays

Primarily industrial and automotive applications

Lighting industry

33

AT&S Product Portfolio

Flexible printed circuit boards

Semi-flexible printed circuit boards

Rigid-flex printed circuit boards

Flexible printed circuit boards on aluminium

AT&S patented technologies

Used to replace wiring and connectors, allowing for connections and geometries that are not possible with rigid printed circuit boards.

More limited bend radius than flexible printed circuit boards. The use of a standard thin laminate makes them a cost-effective alternative.

Combine the advantages of flexible and rigid printed circuit boards, yielding benefits for signal transmission, size and stability.

Used when installing LEDs in car headlights, for example, where the printed circuit board is bonded to an aluminium heat sink to which the LEDs are then attached.

Production site Ansan, Fehring

Fehring

Leoben, Ansan

Ansan

Applications Nearly all areas of electronics, including measuring devices and medical applications

Automotive applications

Industrial electronics, such as production machines and industrial robots

Lighting, automotive, building lighting

ECP: Embedded Component Packaging ECP® is a patented AT&S packaging technology used to embed active and passive electronic components in the inner layers of a printed circuit board. ECP® technology is used in ever smaller, more efficient and more powerful devices, such as smartphones, tablets, digital cameras and hearing aids. Production site: Leoben

2.5D® Technology Platform Combines mechanical and electronic miniaturisation, and enables partial reduction of the thickness of a circuit board. Advantage: populated assemblies have a thinner profile. Can be also used to make cavities in the printed circuit board, e.g. for acoustic channels. Major application for this technology is the 2.5D® rigid-flex printed circuit board, a lower cost alternative for flex-to install applications. Production sites: Leoben, Shanghai

Management

34

Andreas Gerstenmayer, CEO

Joined AT&S as CEO in 2010 Previous positions include:

18 years of work experience at Siemens, including Managing Director with Siemens Transportation Systems GmbH Austria and CEO of the Drive Technology business unit in Graz from 2003 to 2008

Partner at FOCUSON Business Consulting GmbH after leaving Siemens Education and other positions:

Member of the Research Council of Styria Degree in Production Engineering from Rosenheim University of Applied Sciences

Heinz Moitzi, COO

COO since 2005; with AT&S since 19811) Previous positions include:

Various management positions within AT&S Measurement engineer with Leoben University of Mining and Metallurgy

Education: Degree from Higher Technical College of Electrical Engineering

Karl M. Asamer, CFO

Joined AT&S as CFO in 2014 Previous positions include:

Managing Director of GEKA Group in Germany Managing Director of Sell GmbH in Germany

Education: Degree: doctorate in business administration in Linz, Austria

1)He was already with the founding company of AT&S

35

Milestones

Five core dimensions of sustainability within AT&S

Energy and carbon footprint

Water

AT&S – a learning organisation

Resources

Thinking ahead – shaping the future

CSR gains importance in long term success Improving efficiency Motivated and qualified staff

CSR as a key to sustainable business success

36

The importance of sustainability is rising within:

Authorities (basis for securing operation licences)

Customers (relevant for placing orders)

AT&S saves CO2 and Water…

37

Sustainability – Figures and Fields of Action

AT&S aims to minimise its environmental footprint by reducing the CO2 emissions per m2 PCB attributable to production processes by 5% a year.

AT&S aims to reduce the Group‘s annual fresh water consumption per m2

PCB by 3%.

765.2

834.7

783.9

734.0

2011/12 2012/13 2013/14 2014/15

Freshwater consumption

In liters per sqm weighted PCB

1)

47.4

51.0 50.7

49.0

2011/12 2012/13 2013/14 2014/15

CO2-Footprint

1)

In kg per sqm weighted PCB

1) Since 2012/13 calculation according to EICC standards before that AT&S internal calculation

Visit: www.ats.net; Twitter @AT&S IR_PR; YouTube AtundS

38

AT&S – first choice for advanced applications

IR Contact: Elke Koch Fabriksgasse 13, 8700 Leoben/Austria Tel: +43 3842 200 5925 Mobile: +43 676 8955 5925 Fax: +43 3842 200 15909 e.koch@ats.net www.ats.net

Disclaimer

39

This presentation is provided by AT & S Austria Technologie & Systemtechnik Aktiengesellschaft, having its headquarter at Fabriksgasse 13, 8700 Leoben, Austria

(“AT&S”), and the contents are proprietary to AT&S and for information only.

AT&S does not provide any representations or warranties with regard to this presentation or for the correctness and completeness of the statements contained therein,

and no reliance may be placed for any purpose whatsoever on the information contained in this presentation, which has not been independently verified. You are

expressly cautioned not to place undue reliance on this information.

This presentation may contain forward-looking statements which were made on the basis of the information available at the time of preparation and on management‘s

expectations and assumptions. However, such statements are by their very nature subject to known and unknown risks and uncertainties. As a result, actual

developments, results, performance or events may vary significantly from the statements contained explicitly or implicitly herein.

Neither AT&S, nor any affiliated company, or any of their directors, officers, employees, advisors or agents accept any responsibility or liability (for negligence or

otherwise) for any loss whatsoever out of the use of or otherwise in connection with this presentation. AT&S undertakes no obligation to update or revise any forward-

looking statements, whether as a result of changed assumptions or expectations, new information or future events.

This presentation does not constitute a recommendation, an offer or invitation, or solicitation of an offer, to subscribe for or purchase any securities, and neither this

presentation nor anything contained herein shall form the basis of any contract or commitment whatsoever. This presentation does not constitute any financial analysis

or financial research and may not be construed to be or form part of a prospectus. This presentation is not directed at, or intended for distribution to or use by, any

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