This presentation and some of our comments during this presentation may contain projections or other forward-looking statements regarding future events, our future financial performance, and/or the future performance of the industry. These statements are predictions and contain risks and uncertainties. We refer you to the documents the Company files from time to time with the Securities and Exchange Commission. These documents contain and identify important factors that could cause the actual results for the Company to differ materially from those contained in our projections or forward-looking statements. These certain factors can be found at www.photronics.com/riskfactors. Although we believe that the expectations reflected in the forward- looking statements are reasonable, we cannot guarantee the accuracy of any forecasts or estimates, and we are not obligated to update any forward-looking statements if our expectations change.
INC.
PHOTRONICS,INC.
5/24/2023
2
Q2 2023 Summary
Revenue was a record
$229.3M IC: +7% Q/Q, +15% Y/Y
+12%
FPD: +14% Q/Q, +6% Y/Y
+9%
Y/Y
Q/Q
$367M Cashbalance
$45M Short-term
investments
$82M generated from operating activity $27M invested in capex
$28M total debt
PHOTRONICS,INC. INC.
Strong demand trends across markets and regions as design activity remains high
Net income* was $39.9M ($0.65/share); non-GAAP was $32.9M ($0.54/share)
Investing in mainstream IC capacity to capitalize on market growth trends
Committed to driving long-term, profitable growth through strategic investments
*Net income attributable to Photronics, Inc. shareholders
5/24/2023
3
CEO: First Year Observations
Photronics wins with…
A dedicated team laser focused on customer service
Leading edge technology and process know- how to deliver top-quality photomasks
Great market position as the leading photomask merchant
Strong balance sheet to fund growth
INC.
that creates differentiating
Core Competencies
OperationalCommercial
ExcellenceExcellence
Technology Leader
Core Values
PHOTRONICS,INC.
5/24/2023
4
PHOTRONICS,INC. INC.
Clear Strategy for Sustainable, Long-Term Profitable Growth
Revenue Growth
Win lion's share of the growth in TAM for IC and FPD
Supplement capacity with point tool investments and targeted expansions
Capitalize on technology leadership in AMOLED to continue improving mix
Leverage global footprint to exploit expansion of "legacy foundry" business
Margin Expansion
Improved pricing environment in high-end and mainstream IC
Optimizing asset tool set to match end-market demand
Increasing benefit from operating leverage
Explore Strategic Partnerships
Long-termPurchase Agreements
Joint-venturesand strategic alliances
5/24/2023
5
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Photronics Inc. published this content on 24 May 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 24 May 2023 10:06:09 UTC.
Photronics, Inc. is a manufacturer of integrated circuit (IC) and flat panel display (FPD) photomasks. Photomasks are a key element in the manufacture of ICs and FPDs and are used as masters to transfer circuit patterns onto semiconductor wafers and FPD substrates during the fabrication of ICs, a variety of FPDs and, to a lesser extent, other types of electrical and optical components. The Company sells its photomasks to semiconductor designers and manufacturers, and manufacturers of FPDs. Photomask technology is also being applied to the fabrication of other electronic products such as photonics, microelectronic mechanical systems, and certain nanotechnology applications. The Company operates approximately 11 manufacturing facilities, out of which three are located in Taiwan, one in Korea, three in the United States, two in Europe, and two in China.
PHOTRONICS, INC. 
