Investor Presentation May 25, 2018 Disclaimers Forward Looking - PowerPoint PPT Presentation

Investor Presentation May 25, 2018

Disclaimers Forward Looking Statements This presentation contains forward-looking statements about ACM Research, Inc. based on management’s current expectations, which are subject to known and unknown uncertainties and risks. Our actual results could differ materially from those discussed due to a number of factors, including uncertainty as to our future revenue and profitability, our ability to raise additional equity and debt financing on favorable terms, the market acceptance of our products, and other risk factors. We are providing this information as of the date of this presentation and do not undertake any obligation to update any forward-looking statements contained in this presentation as a result of new information, future events or otherwise. Non-GAAP Measures This presentation contains certain supplemental financial measures that are not calculated pursuant to U.S. generally accepted accounting principles ("GAAP"). These non-GAAP measures are in addition to, and not a substitute for or superior to, measures of financial performance prepared in accordance with GAAP. A reconciliation of non-GAAP measures to GAAP measures is contained in the appendix to this presentation. Confidentiality This information is strictly confidential and is for you to familiarize yourself with ACM. You should keep the information we provide at this meeting confidential, and you should not disclose any of the information to any other parties without our prior express written permission. * * * Unless the context requires otherwise, references to “ACM,” “we” and “our” refer to ACM Research, Inc. and its subsidiaries. ACM Research Confidential 2

Post IPO Summary Issuer • ACM Research, Inc. Transaction Type • Initial Public Offering (IPO) • Deal Size 2,233,000 shares Concurrent Private • Sino IC Capital Co., Ltd.: 833,334 shares • Placement China Everbright Limited: 500,000 shares • ROTH Capital Partners Managing Underwriters • Craig-Hallum Capital Group • The Benchmark Company Security Offered • Class A Common Stock • $5.6 per share, as May 22, 2018 $11.25, Offering Price 52 weeks : $4.74-$15.60 Proposed Exchange • NASDAQ Global Market (ACMR) IPO Date • November 3, 2017 Outstanding Share • 15.8 M share Lock-up Date • May 3, 2018 ACM Research Confidential 3

Investment Highlights (ACMR) • Single-wafer wet cleaning technologies Differentiated Improves • Highly effective cleaning for flat and simple structured wafers Technology customers’ yields • Damage-free cleaning for advanced 3D patterned wafers Positioned for key • US headquarters in Silicon Valley, a Delaware Corporation China-based trend in semi • Extensive Shanghai operations position ACM near high growth potential customers and the rapid growth of the China semiconductor market Operations industry fab • Reduced R&D, shipping and manufacturing costs growth Customers are Validates Leading Chip competitiveness of Companies products Technology leadership and • As of May 15, 2018 more than 193 patents granted in the U.S., PRC, Japan, Korea, Strong IP Singapore and Taiwan commitment to R&D Large and Excellent business • 2017 TAM $2.7B with projected CAGR of ~ 7% • ACM positioned to capture market share in all phases of the fab build-out cycle Growing Market Opportunities ACM Research Confidential 4

ACM Management Team: Decades of Industry Experience Name: Lisa Feng, Chief Accounting Officer, Name: David Wang , President and Chief Executive Officer ACM Research (Shanghai),Inc. Degree: Ph.D. Osaka University; BSc Tsinghua University Master degree of Accountancy Degree: Years of Exp: 25 Years of Exp: 28 Experience: Low-k electronics research director, Quester Tech. Corporate Controller at Amlogic Inc. Experience: Name: Fufa Chen, Vice President, Marketing, Name: Jian Wang ACM Research (Shanghai),Inc. Vice President, Research and Development, Degree: Ph.D. State University of New York, Stony Brook, ACM Research (Shanghai),Inc.. BSc Tsinghua University (Taiwan) Degree: MSc 15 Years of Exp: Years of Exp: 15 Experience: Marketing director at Novellus Experience: ACM Research and Applied Materials Name: Fuping Chen, Vice President, Sales Name: Sothera Cheav ACM Research (Shanghai),Inc.. Vice President, Manufacturing Degree: MSc ACM Research (Shanghai),Inc. Years of Exp: 12 Degree: BSc Experience: Cleaning Manager at SK Hynix Years of Exp: 25 Experience: ACM Research ACM Research Confidential 5

ACM Board and Advisory Board of Directors Average of 25+ Years Experience in Semiconductor Industry and High Tech Business Yinan Xiang Dr. David H. Wang Dr. Haiping Dun Prof. Chenming Hu Tracy Liu Zhengfan Yang General Manger of Engineering Director at Intel; Inventor of FinFET; CPA, M.S. in Director of ACM CEO & Founder SSTVC CEO at Champion Professor at UC Berkeley Accounting & Tax Sino IC Advisory Board 30+ Year Experience in Semiconductor Industry and High Tech Investment Prof. Chenming Hu Lip Bu Tan Prof. Srini Raghavan Dr. Stephen Chiao Dr. Chiang Yuan Yang Inventor of FinFET; CEO at Cadence Design System Professor of MSE Professor at SJSU; VP & GM Professor at UC Berkeley Sycamore Ventures Intel Photomask Operation at University of Arizona ACM Research Confidential 6

New Digital Applications Drive Semiconductor Market Growth Semiconductor devices are fundamental to digital technology and applications Tracking Semiconductor Unit Growth 1,200 1022.5 1,000 886.7 Billions of Units Historical CAGR 6.7% 800 623.7 (1987-2018E) 556.2 600 397.4 400 > 1 Trillion Units in 2018F 200 103.7 32.6 0 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 38 39 40 41 Source: IC Insights ACM Research Confidential 7

Wafer Clean Equipment is Critical to Semiconductor Manufacturing Device are Continually Driving to Smaller Nodes For: Smaller Nodes Lead to Significant Manufacturing Challenges 1. Higher Performance Key Process Equipment Groups 2. Greater Energy Efficiency 3. Lower Cost • Implantation • Deposition • Microlithography Most Critical for • Etch 22nm and Smaller Node Devices • Clean • CMP 14 nm FinFET • Metrology 7 nm FinFET 5 nm NW ACM offers wafer cleaning equipment designed to address one of the two major manufacturing challenges ACM Research Confidential 8

Importance and Challenges of Wafer Clean in Semiconductor Manufacturing Importance of Wafer Cleaning Challenges for Advanced Technology Nodes • Wafer cleaning is implemented to remove defects and • New transistor architectures, ever smaller & fragile particles in order to achieve good die yield features, and 3-D structures lead to inadequacy or failure of conventional cleaning • More than 1/3 of process steps are cleaning steps • “Killer Defect” sizes become smaller • 20 nm node DRAM: as many as 200 cleaning steps • Poor PRE (Particle Removal Efficiency) • Damage to fine device features 33% 67% Source: Digital Innovation & Transformation, Harvard Business School “Applied Materials-When machines talk to each other”, November, 2015 Cleaning Steps Other Process Steps ACM’s proprietary SAPS & TEBO solutions are designed to address these issues ACM Research Confidential 9

Semiconductor Device Yield Trend and Its Potential Financial Impact ** Both graphs are customer data • We estimate that 1% yield loss can lead to annual profit decrease of $30 to $50M - The estimate is based on a DRAM fab with 100,000 wafer starts per month - The impact may be even greater for a fab making higher ASP logic chips - Moreover, a lower yield may require greater fab capacity and greater capital spending • To remedy the problem, more cleaning steps with breakthrough capabilities are needed ACM Research Confidential 10

Single Wafer Cleaning Equipment Is a Large and Growing Market Projected Market Growth 6.8% Annually 2015-2020 $4.0 $3.5 ACM’s SAPS and TEBO tools’ $3.0 Market Size, $ billions addressable market: > 30% ACM ACM can grow significantly $2.5 by capturing: $2.0 1. New fab growth $1.5 2. Cleaning step increase 3. Existing fab upgrades $1.0 $0.5 $0.0 2015 2016 2017E 2018E 2019E 2020E Source: Transparency Market Research Pvt. Ltd., Report – Global Semiconductor Wafer Cleaning Equipment Market, December 2016 ACM Research Confidential 11

SAPS Clean Technology: Solution for Flat and Simple Patterned Wafer Surface As the size of “Killer Defects” (defects that impact device yield) continues to shrink at advanced nodes, wafer cleaning becomes more challenging SAPS Tool • Designed for wafers with flat and simple patterned surfaces • Since 2011, > 40 tools shipped; in volume wafer production by customers: System Configurations • Expected tool ASP $3M + • price range: $2.5-5.5M depending on configuration and feature options • 22 patents granted SAPS II, 8-chamber SAPS V, 12-chamber ACM Research Confidential 12