ADVANCED ENERGY INDUSTRIES Business Summary

Advanced Energy Industries Inc. (AEIS) is a global leader in precision power conversion, measurement, and control solutions, primarily generating revenue through the sale of highly engineered power systems and specialized services to mission-critical industries. The company operates across four primary business segments: Semiconductor Equipment, which provides plasma power for advanced wafer fabrication; Data Center Computing, a high-growth division focused on AI-driven hyperscale infrastructure; Industrial & Medical, serving life sciences and advanced manufacturing; and Telecom & Networking. As of early 2026, AEIS has solidified its market position by capitalizing on the AI infrastructure boom and expanding its global manufacturing footprint in Thailand and the Philippines. Its primary direct competitors include MKS Instruments, Monolithic Power Systems, XP Power, and Axcelis Technologies, with AEIS distinguishing itself through its specialized focus on high-precision RF and DC power systems for the "Angstrom-Era" of semiconductor manufacturing. Founded in 1981 by Douglas Schatz and a team from Colorado State University, Advanced Energy is currently led by President and CEO Stephen D. Kelley, a semiconductor industry veteran who previously served as CEO of Amkor Technology. The executive leadership team includes EVP and CFO Paul Oldham, formerly of Electro Scientific Industries; EVP and COO Eduardo Bernal, who brings over 30 years of experience from NXP Semiconductors; and SVP and CTO Randy Heckman, a long-time engineering leader within the firm. In December 2025, the company further strengthened its digital strategy by appointing Umesh Manathkar as EVP and Chief Information Officer. The company’s board is chaired by Grant H. Beard and includes notable directors such as Anne T. DelSanto and Brian M. Shirley. Major institutional investors include the Schatz Family Trust, Franklin Resources, and BlackRock, reflecting the company's established presence as a key component of the S&P 400.