ADVANCED ENERGY acquisition history

The Embedded Power business of Artesyn Embedded Technologies (the Artesyn and Astec brands), one of the world's largest providers of highly engineered, application-specific AC-DC and DC-DC power supplies for demanding applications, acquired from Platinum Equity. Artesyn's Embedded Computing and Consumer Products businesses were excluded from the transaction. approximately $400 million base purchase price (~$364M cash + ~$36M assumed liabilities); $370.2M final purchase price net of cash acquired.

We are excited by this highly strategic acquisition of Artesyn EP, transforming Advanced Energy into a highly diversified, pure-play power house with a global platform for accelerated earnings growth.Yuval Wasserman — President and CEO, Advanced Energy

We believe our Embedded Power business will substantially benefit from the combination with Advanced Energy. Together with AE, we form a consolidated platform with a synergistic and complementary product portfolio, which expands our industrial business into semiconductor markets and provides our existing customers access to new technologies.Jay Geldmacher — CEO, Artesyn Embedded Technologies

LumaSense Technology Holdings, Inc., acquired via the merger of Eclipse Merger Sub, Inc. into LumaSense, with LumaSense surviving as a wholly-owned indirect subsidiary of Advanced Energy. Aggregate consideration was approximately $85 million in cash. approximately $85 million in cash (including $5.85 million escrow).

On September 1, 2018, Advanced Energy Industries, Inc. completed its previously announced acquisition of LumaSense Technology Holdings, Inc. through the merger of Eclipse Merger Sub, Inc. with and into LumaSense, with LumaSense surviving as a wholly-owned indirect subsidiary of Advanced Energy. The aggregate consideration paid in the Merger was approximately $85 million in cash.Advanced Energy — Form 8-K (Item 2.01), filed September 4, 2018

UltraVolt, Inc., a privately-held provider of high voltage power solutions based in Ronkonkoma, New York, with a comprehensive portfolio of high voltage power supplies and modules from benchtop and rack-mount systems to microsize PCB-mount modules; standard DC-to-DC line of over 1,500 models serving over 100 markets. $30.2 million in cash.

Today's acquisition of UltraVolt is a very strategic and complementary addition to our growing and diversified portfolio of precision power products. With a broad range of high voltage products, UltraVolt expands our penetration of existing applications and customers while adding new and potential areas of opportunity in medical equipment, industrial and semiconductors applications.Yuval Wasserman — President of Precision Power Products, Advanced Energy

SL Power Electronics Corporation, based in Calabasas, California, acquired via purchase of 100% of its issued and outstanding capital stock. The acquisition added complementary products to Advanced Energy's medical power offerings and extended its presence in several advanced industrial markets. $142.2 million (total fair value of purchase consideration, net of cash acquired; $145.7M cash paid).

On April 25, 2022, we acquired 100% of the issued and outstanding shares of capital stock of SL Power Electronics Corporation, which is based in Calabasas, California. This acquisition added complementary products to Advanced Energy's medical power offerings and extended our presence in several advanced industrial markets.Advanced Energy — FY2023 Form 10-K, Recent Acquisitions / Note 2 Acquisitions

TEGAM, Inc., based in Geneva, Ohio, acquired via purchase of 100% of its capital stock. Added metrology and calibration instrumentation to Advanced Energy's RF process power solutions.

On June 1, 2021, we acquired 100% of the issued and outstanding shares of capital stock of TEGAM, Inc., which is based in Geneva, Ohio. This acquisition added metrology and calibration instrumentation to Advanced Energy's RF process power solutions in our Semiconductor and Industrial and Medical markets.Advanced Energy — FY2021 Form 10-K, Recent Acquisitions

Versatile Power, Inc., based in Campbell, California, acquired via purchase of 100% of its capital stock. Added RF and programmable power supplies for medical and industrial applications, proven technologies, deep customer relationships, expertise in medical design, and a medical-certified manufacturing center. $6.8 million total purchase price ($7.0M total fair value of consideration including $1.5M contingent and $0.95M holdback; net of cash acquired).

On December 31, 2020, we acquired 100% of the issued and outstanding shares of capital stock of Versatile Power, Inc., which is based in Campbell, California. This acquisition added RF and programmable power supplies for medical and industrial applications to our product portfolio and further expands our presence in the medical market.Advanced Energy — FY2021 Form 10-K, Note 2 Acquisitions

Airity Technologies, Inc., acquired via purchase of 100% of its capital stock and accounted for as a business combination. The acquisition added high voltage power conversion technologies and products, broadening AE's range of targeted applications within the Semiconductor Equipment and Industrial and Medical markets. $19.6 million total fair value of purchase consideration ($14.3M cash at closing + $4.5M AE common stock + $1.5M indemnity holdback, net of $0.7M settlement of payables).

On June 20, 2024, we acquired 100% of the issued and outstanding shares of capital stock of Airity Technologies, Inc. We accounted for this transaction as a business combination. This acquisition added high voltage power conversion technologies and products, broadening our range of targeted applications within the Semiconductor Equipment and Industrial and Medical markets.Advanced Energy — FY2025 Form 10-K, Note 2 Acquisition

Excelsys Holdings Limited, an electronics manufacturer based in Cork, Ireland, acquired via purchase of all issued and outstanding capital stock. Excelsys manufactures high-efficiency, low voltage, configurable power supplies for medical and industrial applications.

In July 2017, Advanced Energy acquired all of the issued and outstanding shares of capital stock of Excelsys Holdings Limited, an electronics manufacturer in Cork, Ireland. This acquisition is part of Advanced Energy's strategy to continue to grow and diversify its revenue in new and adjacent markets through organic and inorganic opportunities.Advanced Energy — FY2017 Form 10-K, Recent Acquisitions

HiTek Power Group, a privately-held provider of high voltage power solutions based in the United Kingdom, acquired via purchase of all outstanding common stock. HiTek offers a comprehensive portfolio of high voltage and custom-built power conversion products ranging from 100V to 500kV for OEMs worldwide.

On April 12, 2014, we acquired all outstanding common stock of HiTek Power Group, a privately-held provider of high voltage power solutions. Based in the United Kingdom, HiTek offers a comprehensive portfolio of high voltage and custom built power conversion products, ranging from 100V to 500kV, designed to meet the demanding requirements of OEMs worldwide.Advanced Energy — FY2014 Form 10-K, Recent Acquisitions

Solvix SA, a privately held manufacturer of power supplies for the surface treatment and thin films industry, based in Villaz-Saint-Pierre, Switzerland. Acquired (via AE's Netherlands subsidiary AEI CV) from CPA Group SA. Brings plasma-based sputtering and cathodic arc deposition applications and arc detection/suppression technology. approximately $21.2 million total fair value ($16.0M cash net of cash acquired + up to $7.9M contingent consideration).

On November 8, 2012, we acquired Solvix SA, a privately held company based in Villaz-Saint-Pierre, Switzerland. A manufacturer of power supplies for the surface treatment and thin films industry, Solvix brings plasma-based sputtering and cathodic arc deposition applications to Advanced Energy's existing product portfolio.Advanced Energy — FY2014 Form 10-K, Acquisitions