AT&S Investor and Analyst Presentation January 2017

1. AT & S Austria Technologie & Systemtechnik Aktiengesellschaft | Fabriksgasse 13 | A-8700 Leoben
Tel +43 (0) 3842 200-0 | E-Mail info@ats.net
www.ats.net
AT&S
First choice for advanced applications
Investor and Analyst Presentation
January 2017

2. Company Overview
Strategy & Market
Annex
Financials
Table of Contents
1

3. High-end interconnection
solutions
for
Mobile Devices, Automotive,
Industrial, Medical Applications
One of the
most profitable players
in the industry
Continuously
outperforming
market growth
€ 762.9m
revenue in FY 2015/16;
5.2% organic growth
# 1
manufacturer in Europe
# 3
in high-end technology
worldwide
9,315
employees
Cost-competitive production
footprint with
6
plants in Europe and Asia
AT&S – a world leading high-tech PCB company
2

4. Outstanding
process know-how
and process
efficiency
Our competitive advantages
Cost advantage as
first high-end IC
substrates
manufacturer in
China
Strategic focus on
high-end
technologies and
applications
Technology
leverage between
customer segments
Quality
3

5. What guides us
Vision First choice for advanced applications
Targets
 Strengthening the technology leadership
 Long-term profitable growth with the target to be one of the most profitable
players in the industry
 Generation of shareholder value
Strategy
 Focus on high-end technologies and applications with above average
growth potential and long-term profitability
 Focus on highest service-level and customer orientation
 Focus on operational excellence
 Focus on cash flow generation
4

6. High-end PCBs for high-end applications
Revenue Share*Segment
Selected Market
Leaders**
GoPro
Sony
LG
Canon
Qualcomm
Blackberry
Lenovo
Huawei
Samsung
Xiaomi
ZTE
Intel
Apple
Selected Applications
Osram
Hella
Siemens
General Electric
Continental
Harman
EADS
Mobile Devices &
Substrates
Automotive,
Industrial,
Medical
Consumer
Electronic
Smartphones
Wearables
Tablets,
Ultrabooks,
2 in 1
Automotive:
Navigation,
Advanced Driver
Assistance Systems,
Infotainment...
Industrial:
Machine-2-Machine
communication,
industry computer...
Medical:
MRT, hearing aids,
pacemaker, patient
monitoring...
* Based on external revenue
** Does not reflect actual customer base
58%
42%
5

7. 514
542
590
667
763
387 387
103 102 127
168 168
93
5242 31 54
90 77 51
(6)
2011/12 2012/13 2013/14 2014/15 2015/16 H1
2015/16
H1
2016/17
Revenue EBITDA EBIT
AT&S – Key Facts
Strong track record1 Balanced portfolio/Global customer base2
7%
Split revenue: Business Unit, H1 2016/17
Split revenue: Customer Region, H1 2016/17
based on sold to party
+5% +9% +13% +14%
* Based on ramp-up effects for new plants in China
Revenue growth
€ in millions
*
6
25%
6%
15%
54%
Germany/Austria
Other European
countries
Asia
Americas
58%42%
Mobile Devices &
Substrates
Automotive,
Industrial, Medical

8. 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
 9,315 employees*
Plant Shanghai, China
Staff: 4,539*
Plant Ansan, Korea
Staff: 291*
Plant Nanjangud, India
Staff: 1,122*
Plant Chongqing, China
In ramp phase
Staff: 1,929*
Plant Leoben, Austria
Headquarters
Staff: 983*
Plant Fehring, Austria
Staff: 373*
AT&S sales officesAT&S plants
* Average, FTE, H1 2016/17; 78 employees in other locations
7

9. PCB market – Overview
15.654 17.146
16.203
17.543
7.676
8.084
3.638
4.3323.645
4.417
2.288
2.520
2016 2020
Computing Communication
Consumer Automotive
Industrial/Medical Military/Aerospace
4.9%
4.5%
1.3%
2.3%
2.0%
Source: Prismark, Feb. 2016
Moderate growth of 2.4% forecast for the
total PCB market until 2020.
49.104
54.042CAAGR 2016-
2020: 2.4%
2.4%
USD in billions
8
AT&S outperformed a flat market in the past 5 years and is set to
continue to do so also in the future.
100.5 101.3 103.7 99.8
105.4
114.8
129.8
148.4
2011* 2012 2013 2014 2015
Index (2011 = 100)*
PCB & substrates market AT&S revenue
* Basis 2011:
PCB & substrates market: USD 55.4bn
AT&S revenue: € 514m
AT&S outperformed the market by scaling high-end any-layer technology and
by leveraging HDI technology to the Computer-, Consumer-, Automotive-,
Industrial and Medical market.

10. Company Overview
Strategy & Market
Annex
Financials
Table of Contents
9

11. 10
AT&S positioning – Current
Strategic focus on high-end technologies
AT&S revenue structure in 2015/16 – based on technologies
High-end
HDI PCBs and
IC substrates
~ 30%
Single-sided (SS), double-sided (DS), multilayer (ML),
flex and rigid-flex (RF) PCBs
~ 70%
High-end technology share > 70%
HDI and any-layer PCBs, Embedding
Complementary technology
share: < 30%
SS, DS, ML,
Flex, RF
Structure of general PCB market – based on technologies

12. 11
Source: Prismark, 2015; JMS 2015; NTI 2015; AT&S Strategy
Market position HDI Technology
Revenue (USD in millions)
Rank Country Supplier HDI
Non HDI
PCBs
IC
substrates
Total
revenue
1 TWN Unimicron 738 634 758 2,130
2 TWN Compeq 624 486 - 1,110
3 AUT AT&S 557 329 - 886
4 JPN Ibiden 462 376 655 1,493
5 KOR SEMCO 392 200 970 1,562
6 USA TTM 376 1,046 - 1,422
7 TWN Zhen Ding 369 2,114 - 2,483
8 TWN Tripod 321 1,070 - 1,391
9 TWN Unitech 302 153 - 455
10 CHN Kingboard (E&E) 275 688 - 963
Market Player/Position HDI Technology

13. 12
Driving Future Trends: Internet of Things (IoT) Applications
Everything is going to be smart and/or connected
 Healthcare & Fitness
 Smart Watches and Glasses
Wearable Electronics
Smart Mobility  Autonomous Driving
 Car2X Communication
Smart City  Smart Lighting
Smart Buildings  Home/Building Automatization
 Smart Home Devices
Smart Production/Industry 4.0  Automatization/Robotics
 Machine-to-Machine Communication
Smart Healthcare  Connected Patient Monitoring Systems
 Connected Consumer Healthcare Devices
Smart Energy  Smart Metering
 Building Blocks of IoT Modules: Sensing, Connectivity, Energy Storage/Harvesting, Power Management
 30-50 billion of „Things“ will be connected in 2020
 Wearable electronic devices offer revenue opportunities of USD 61.7bn beyond the smartphone market
in 2020
Source: Gartner Inc. 2016

14. The world is changing – miniaturization &
modularization as main drivers
2003/04 2013 2017 202x
?
Type Mobile Phone Smartphone Smartphone All in One
PCB 125x55mm 85x20mm 80x20mm 25x25mm ?
FF 1 0.25 0.23 0.06 ?
L/S 100/100µm 40/40µm 30/30µm 10/10µm
Techn. 1-n-1 Any-layer mSAP – Any-layer FO/SAP/mSAP
13

15. From vision to strategy
14
Targets/Key Performance
Indicators
Strategy
Strengthening technology leadership
• Leading player in the high-end core
business
• Medium-term: leading player in new
business areas
• Innovation Revenue Rate: > 20%
 Continuous innovation and focus on high-end
technologies and applications
 Focus on innovative solutions
Long term profitable growth/to be
one of the most profitable players in
the industry
• Medium-term EBITDA margin target of
18-20%
• Medium-term revenue target of ~ € 1bn
 Focus on technologies and applications with above-
average growth potential and long-term profitability
 Focus on highest service-level and customer orientation
 Focus on operational excellence
 Focus on cash flow generation
Generation of shareholder value
• Medium term ROCE of 12%
 Sustainable development focusing on ROCE
 Stable dividend policy
Vision:
“First choice
for advanced
applications”
The best employees and
executives
• Talent Programs
• Trainings
• Leadership Excellence Program
Sustainable management
To be the benchmark of the industry
by reduction of:
• 5% CO2 emissions p.a.
• 3% freshwater consumption p.a.
Capital Excellence
• Equity ratio: > 40%
• Financing costs of < 2% (in a
corresponding interest
environment)
• Payback period of < 3 years

16.  19.6% of AT&S‘ total revenue in 2015/16 is generated by products with new, innovative
technologies introduced to the market within the last three years (Innovation Revenue
Rate). IRR decreased due to a generation of mature products.
 162 patent families, resulting in 212 patents.
 R&D expenses: € 95.5m in the financial year 2015/16.
R&D quota (i.e. relation to revenue): 12.5% (vs. 8.7% in the previous year). Adjusted for
project IC substrates: 4.5%.
32.9
24.7
31.8
57.9
95.5
2011/12 2012/13 2013/14 2014/15 2015/16
15.0
19.2
26.5
29.2
19.6
2011/12 2012/13 2013/14 2014/15 2015/16
101
124
153
174
212
2011/12 2012/13 2013/14 2014/15 2015/16
IRR (Innovation Revenue Rate)
€ in millions in % Quantity
PatentsR&D expenses
Research and development as the key for
technological leadership
15

17. „New interconnection solutions“
> supporting miniaturization and
modularization
„High-end Toolbox“
New and existing
Application Areas
New and existing
customers
 Semiconductors
 Packaging
companies (OSATs)
 Original Electronic
Manufacturers
(OEMs)
 Tier 1 suppliers
Future positioning as leading high-end
interconnection solutions provider
Mobile
Devices
Automotive
Industrial
Medical
INTERNET of
THINGS
NEW
TECHNOLOGIES
IC substrates
Advanced Packaging
Substrate-like PCBs
EXISTING
TECHNOLOGIES
Multilayer PCBs
HDI any-layer PCBs
Embedding
Flexible PCBs
CORE BUSINESS
Multilayer PCBs,
HDI any-layer PCBS,
Embedding,
Flexible PCBs
e-IC substrate
Advanced
Packaging/SLP
(SiB)
Advanced
Packaging/(SiP)
e-Interposer
16
„More comprehensive
positioning in the value chain“

18. 17
AT&S’ advanced technology solutions
General Description & Technology Application Areas Customer Base
High-end
(HDI) PCBs
PCBs are the interconnection platform for electric, electronic &
mechanical components (such as resistors, capacitors, ICs,
connectors, etc.)
Density: Line/Space > 35 micron
Computer, Consumer,
Communication, Automotive
Industrial, Medical
OEMs
Tier 1
Tier 2
Substrate-like
PCBs
Substrate-like PCBs are the next evolution of high-end HDI PCBs
with higher density: Line/Space < 30 micron
Mobile Applications like
Wearables
OEMs
Tier 1
Tier 2

19. 18
General Description & Technology Application Areas Customer Base
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
OEMs
Semiconductor
Industry
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 miniaturization
Power Electronics, e.g. for
Automotive, Industrial
OEMs
Semiconductor
Industry
AT&S’ advanced technology solutions

20. Growth Project Chongqing
IC substrate project
Investment* Phase 1: ~ € 280m
Investment* as of 30/09/2016: € 238m
Substrate-like PCB project
Investment* Phase 1: ~ € 200m
Investment* as of 30/09/2016: € 155m
19
Total investment: € 480m* in first phase (until mid 2017)
Depreciation & Amortization: average of 10 years; roughly additional € 40m in FY 2016/17
* CAPEX for tangible fixed assets

21. Q4 2015/16
(January – March 2016)
Challenge: Ramp of three production lines
within 12 months
Ramp: PRODUCTION LINE 1 – IC SUBSTRATES
Q1 2016/17
(April – June 2016)
Q2 2016/17
(July – September 2016)
Q3 2016/17
(October – December 2016)
Q4 2016/17
(January – March 2017)
Ramp: PRODUCTION LINE 1 – SUBSTRATE-LIKE PCBs
Ramp: PRODUCTION LINE 2 – IC SUBSTRATES
FY 2015/16 FY 2016/17
20

22. 21
Company Overview
Strategy & Market
Annex
Financials
Table of Contents

23. Sound top-line growth, above industry margins
and increasing cash conversion
87
72
105
144
137
56
(13)
Revenue
YoY growth
Operating Cash Flow
YoY development
EBITDA and
EBITDA-margin
 Stable revenue in H1 2016/17;
first revenue from Chongqing
plants balanced expected Q1
seasonality effects.
 EBITDA impacted by negative effects
from ramp-up of new plants in Chongqing.
 EBITDA margin adjusted for Chongqing
effects almost on high level of H1 2015/16.
 Decrease is based on lower EBIT
and higher depreciation.
€ in millions
514
542
590
667
763
387 387
€ in millions
103 102
127
168 168
93
52
89*
€ in millions; %
* Adjusted for Chongqing effects
(0.2%)
20.1% 18.9% 21.6% 25.1% 22.0% 24.1% 13.5%
25.8%* 23.7%* 24.3%* 23.8%*
22

24.  Good demand in Q2
 Chongqing revenue contribution almost compensated stronger seasonality in Q1 and negative FX effect
 Effects from Chongqing and price/product mix impacted profitability
Business Development – Mobile Devices &
Substrates
68.0
88.7
120.9
104.5
115.9 112.2
123.4
101.0 97.7
126.6
Q1 14/15 Q2 14/15 Q3 14/15 Q4 14/15 Q1 15/16 Q2 15/16 Q3 15/16 Q4 15/16 Q1 16/17 Q2 16/17
€ in millions (unless
otherwise indicated)
H1 2015/16 H1 2016/17 Change in %
Revenue 272.8 269.7 (1.1%)
Revenue with external
customers 228.1 224.3 (1.7%)
EBITDA 67.6 24.5 (63.8%)
EBITDA margin 24.8% 9.1% -
EBITDA adjusted* 68.8 58.5 (14.9%)
EBITDA margin adjusted* 25.3% 22.7% -
€ in millions; * Adjusted for Chongqing effects; ** Revenue with external customers
Revenue per quarter**
23

25. 72.6 71.7 65.9 72.6 77.8 79.5 72.7 76.6 80.4 79.9
Q1 14/15 Q2 14/15 Q3 14/15 Q4 14/15 Q1 15/16 Q2 15/16 Q3 15/16 Q4 15/16 Q1 16/17 Q2 16/17
 Automotive: continuous high demand for HDI PCBs (e.g. driver assistance systems and safety features)
 Medical: strong growth based on new technologies and functionalities
 Industrial: on same high level as last year
 On EBITDA level, positive impact from release of a provision for unused production space
Business Development – Automotive, Industrial,
Medical
€ in millions (unless
otherwise indicated)
H1 2015/16 H1 2016/17 Change in %
Revenue 169.5 174.4 2.9%
Revenue with external
customers 157.3 160.3 1.9%
EBITDA 19.2 23.0 19.9%
EBITDA margin 11.3% 13.2% -
24
Revenue per quarter*
€ in millions; * Revenue with external customers

26. Net CAPEX & Staff
Net CAPEX
CAPEX spending of € 142.5m in H1 2016/17
includes investments in Chongqing project
(whereof € 105.2m in H1) and technology
investments in existing locations.
STAFF*
The increased headcount is primarily based on
Chongqing.
40.3
57.9
78.7 77.4
66.3
76.2
Q1 2015/16 Q2 2015/16 Q3 2015/16 Q4 2015/16 Q1 2016/17 Q2 2016/17
7,341 7,403 7,399 7,379 7,339 7,386
1,049 1,152 1,289 1,380 1,826 1,929
8,390 8,555 8,688 8,759
9,165 9,315
Q1 2015/16 Q2 2015/16 Q3 2015/16 Q4 2015/16 Q1 2016/17 Q2 2016/17
Core business Employees Chongqing
25
€ in millions * Incl. leased personnel, FTE, average for the period

27. € in thousands (unless otherwise
stated)
H1 2015/16 H1 2016/17
Change
YoY
STATEMENT OF PROFIT OR LOSS
Revenue 387,129 386,510 (0.2%)
produced in Asia 80% 81% 1pp
produced in Europe 20% 19% (1pp)
EBITDA 93,230 52,115 (44.1%)
EBITDA margin 24.1% 13.5% (10.6pp)
EBITDA adjusted 93,681 89,380 (4.6%)
EBITDA adjusted margin 24.3% 23.8% (0.5pp)
EBIT 50,742 (5,818) (>100%)
EBIT margin 13.1% (1.5%) (14.6pp)
EBIT adjusted 55,403 51,688 (6.7%)
EBIT adjusted margin 14.4% 13.8% (0.6pp)
Finance costs – net 25 (10,046) (>100%)
Income taxes (8,630) 1,025 >100%
Profit/loss for the period 42,137 (14,839) (>100%)
Earnings per share € 1.08 (€ 0.38) (>100%)
Financials H1 2016/17
26
Negative impact of € 37.3m
from project Chongqing.
Slight reduction vs. prior
year due to price/product
mix – could not be
compensated by cost
savings.
Includes negative FX effects of
€ 3.7m. Last year includes
positive FX impact of € 3.4m.

28. Financials H1 2016/17
Reduction due to net loss of
€ 14.8m, dividend payment of
€ 14.0m and FX.
27
Increase due to high CAPEX
spending.
€ in thousands (unless otherwise stated)
31 Mar 2016 30 Sep 2016 Change
STATEMENT OF FINANCIAL POSITION
Non-current assets 866,338 953,948 10.1%
Current assets 478,312 507,842 6.2%
Equity 568,936 531,928 (6.5%)
Non-current liabilities 421,407 562,883 33.6%
Current liabilities 354,307 366,979 3.6%
Total assets 1,344,650 1,461,790 8.7%
Net debt 263,192 439,157 66.9%
Net gearing 46.3% 82.6% 36.3pp
Net working capital 88,427 124,306 40.6%
Net working capital per revenue 11.6% 16.1% 4.5pp
Equity ratio 42.3% 36.4% (5.9pp)

29. 273
299
372
405
523
681
31
82
261 274
260 242243 217
111
131
263
439
2011/12 2012/13 2013/14 2014/15 2015/16 H1 2016/17
Gross debt Financial assets and cash Net debt
2.3
2.1
0.9
0.8
1.6
2011/12 2012/13 2013/14 2014/15 2015/16
 Expected multiple in temporary peak of
Chongqing investments: ~ 3.5x
Net debt/EBITDA
Gross debt, financial assets and cash, net debt
 Based on € 242m financial assets and cash:
repayment of the bond in November 2016,
financing the start-up phase and
outstanding payments for investments of
the first phase of Chongqing are secured.
€ in millions
28

30. Overview Debt Portfolio Duration
 Average debt portfolio duration: 3.4 years (2015/16: 3.9 years)
 Average financing costs: 2.6% (as of 30/09/2016)
 € 152m of credit lines not utilized (as of 30/09/2016)
 Currency mix of EUR and USD to support natural hedging strategy
29
Maturity
€ in millions* < 1 Year 1-5 Years > 5 Years Total
Bond 2011-2016 78.8 - - 78.8
Promissory note loans 2014 1.4 61.1 5.0 67.5
Promissory note loans 2015 2.4 154.2 66.3 222.9
Promissory note loans 2016 0.8 49.9 100.0 150.7
Subsidized loans 43.9 35.4 - 79.3
Bank Borrowings and others 50.5 31.6 - 82.1
Total 30/09/2016 177.8 332.2 171.3 681.3
Total 31/03/2016 161.4 285.3 76.3 523.0
* Including accrued interest and placement costs
81.6%
15.3%
3.1%
Currency mix of debt portfolio
EUR USD RMB

31. € in thousands
H1 2015/16 H1 2016/17
Change
YoY
STATEMENT OF CASH FLOWS
Operating result (EBIT) 50,742 (5,818) (>100%)
Paid/received interests (2,379) (3,066) (28.8%)
Paid taxes (4,346) (9,219) (>100%)
Non cash bearing of profit or loss 41,375 55,021 33.0%
Cash flow from operating activities before
changes in working capital
85,392 36,918 (56.8%)
Changes in working capital (29,757) (49,955) (67.9%)
Cash flow from operating activities 55,635 (13,037) (>100%)
Cash flow from investing activities (97,485) (155,072) (59.1%)
Cash flow from financing activities (9,879) 138,838 >100%
Change in cash and cash equivalents (51,729) (29,271) 43.4%
Financials H1 2016/17
30
Increase includes payout of
promissory note loans of
€ 150m.
Net working capital increase
due to seasonality.

32. Net Working Capital Management
92
103
92 95
88
124
18.0%
19.0%
15.6%
14.3%
11.6%
16.1%
2011/12 2012/13 2013/14 2014/15 2015/16 H1 2016/17
Net Working Capital development Net Working Capital as a percentage of revenues
€ in millions; % of revenue
Net Working Capital development
31

33. AT&S – Stock Profile
Listing: Vienna Stock Exchange,
Prime Standard
Indices: ATX Prime, WBI
Thomson Reuters (A): ATSV.VI
Bloomberg (A): ATS:AV
Results for the first three quarters 2016/17 31 January 2017
Annual results 2016/17 09 May 2017
Record Date Annual General Meeting 26 June 2017
23rd Annual General Meeting 06 July 2017
Ex-Dividend Day 25 July 2017
Record Date Dividend 26 July 2017
Dividend Payment Day 27 July 2017
32
Financial Calendar Shareholder structure
# of shares outstanding 38.85m
Average daily volume: ~ 80,400 shares*
Performance YTD: -36.06%*
Dividend 2015/16: EUR 0.36/per share
Dividend yield: 2.8%
* 01/01/2016 – 31/12/2016

34. 33
Outlook FY 2016/17
 Focus on:
- Chongqing plant 1 (IC substrates): capacity utilization of first production line of IC substrates and
ramp of the second production line
- Chongqing plant 2 (Substrate-like PCBs): ramp of the first production line
- Partial adjustment of capacities for the new technology in the Shanghai plant for 2017
- Cost and price management
 AT&S expects stronger seasonality in Q4 and continuous low visibility
 Based on a macroeconomic stable environment, FX relation of USD-EUR on a similar level than FY
2015/16 and a stable demand in the core business, management expects revenue growth of 4-6%.
EBITDA margin should be on a level of 15-16%, based primary on costs related to the ramp of
Chongqing. EBITDA margin in core business should be on a similar level than in FY 2015/16.
Higher depreciation for the project Chongqing of additional ~ € 40m in FY 2016/17 will have a
clear impact on EBIT level.

35. 34
Company Overview
Strategy & Market
Annex
Financials
Table of Contents

36. AT&S Product Portfolio – I
ECP®:
Embedded Component Packaging
IC substrates Substrate-like printed circuit boards
Embedded Component Packaging allows to embed
active/passive components (e.g. wafer level dies)
within the layers of a PCB – contributes to
miniaturization.
IC substrates serve as interconnection platform with
higher density (Line/Space < 15 micron) between
semiconductors (Chips) & PCBs .
Substrate-like PCBs are the next evolution of high-
end HDI PCBs with higher density: Line/Space < 30
micron.
Production site
Leoben Chongqing Chongqing, Shanghai
Applications
Devices such as smartphones, tablets, digital
cameras and hearing aids
High-end processors for
Computer, Communication, Automotive, Industrial
Mobile applications like wearables
35

37. AT&S Product Portfolio – II
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
miniaturization, 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 miniaturization.
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 0.1-3.2mm.
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
36

38. AT&S Product Portfolio – III
Flexible printed
circuit boards
Semi-flexible printed
circuit boards
Rigid-flex printed
circuit boards
Flexible printed circuit
boards on aluminum
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 aluminum
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 miniaturization, 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
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39. Management
Andreas Gerstenmayer, CEO
 Born 1965; 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
 Born 1956; COO since 2005; with AT&S since 1981*
 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  Born 1970; 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
* He was already with the founding company of AT&S
 Responsibilities:
 Sales and Marketing
 Human Resources
 Investor Relations, Public Relations and
Internal Communications
 Business Development & Strategy
 Compliance
 CSR & Sustainability
 Responsibilities:
 Finance and Accounting, Treasury
 Controlling
 Legal Affairs, Risk Management and
Internal Audit
 IT and Organization
 Procurement
 Responsibilities:
 Research & Development (R&D)
 Operations
 Quality Management
 Business Process Excellence
 Environment
 Safety
38

40. Milestones in the Group’s history
1987
Founding of the Group, emerging
from several companies owned by
the Austrian State Owned
Industries.
1994
Privatization and acquisition
by Messrs. Androsch,
Dörflinger, Zoidl.
1999
Initial public offering on Frankfurt Stock Exchange
(„Neuer Markt“). Acquisition of Indal Electronics
Ltd., largest Indian printed circuit board plant
(Nanjangud) – today, AT&S India Private Limited.
2002
Start of production at new Shanghai
facility – one of the leading HDI
production sites in the world.
2010
Start of production
at plant II in India.
2009
New production direction: Austrian
plants produce for high-value niches
in the automotive and industrial
segment; Shanghai focuses on the
high-end mobile devices segment.
2008
AT&S changes
to Vienna Stock
Exchange.
2006
Acquisition of Korean
flexible printed circuit
board manufacturer,
Tofic Co. Ltd. – today,
AT&S Korea Co., Ltd.
2015
AT&S again achieves record high sales and earnings for
financial year 2014/15 and decides to increase the investment
program in Chongqing from € 350m to € 480m.
2011
 Construction starts on new
plant in Chongqing, China.
 Capacity increase in
Shanghai by 30%.
2013
AT&S enters the IC substrates
market in cooperation with a
leading manufacturer of
semiconductors.
2016
AT&S starts the serial production
of IC substrates at the plant in
Chongqing.
39

41. Five core dimensions of sustainability within AT&S
Energy and
carbon footprint
Water
AT&S – a learning
organizationResources
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
The importance of sustainability is rising within:
 Authorities
(basis for securing operation licenses)
 Customers
(relevant for placing orders)
40

42. AT&S saves CO2 and Water…
Sustainability – Figures and Fields of Action
AT&S aims to minimize 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
718.6
2011/12 2012/13 2013/14 2014/15 2015/16
Freshwater consumption**
** in liters per sqm weighted PCB
1)
47.4
51.0
50.7
49.0
50.7
2011/12 2012/13 2013/14 2014/15 2015/16
CO2-Footprint*
1)
* in kg per sqm weighted PCB
1) Since 2012/13 calculation according to EICC standards;
before that AT&S internal calculation
41

43. Visit: www.ats.net; Twitter @AT&S IR_PR; YouTube AtundS
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
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44. Disclaimer
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
person or entity that is a citizen or resident or located in any locality, state, country or other jurisdiction where such distribution, publication, availability or use would be
contrary to law or regulation or which would require any registration or licensing within such jurisdiction.
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