ENTEGRIS INC (ENTG) Business

Item 1. Business.

OUR COMPANY

Entegris, Inc. (“Entegris”, “the Company”, “us”, “we”, or “our”) is a leading supplier of critical advanced materials and process solutions for the semiconductor and other high-technology industries. We leverage our unique breadth of capabilities to provide customers with innovative, science-based solutions to their toughest technology challenges, helping improve productivity and product performance in the most advanced manufacturing environments.

Semiconductors, or integrated circuits, are key components in electronic devices that continue to transform how we live, communicate and work. Many products and emerging applications—including artificial intelligence (“AI”), high-performance and cloud computing, smartphones, wearable technology, electric and autonomous vehicles, the Internet of Things, gaming, virtual/augmented reality, and smart healthcare— are expected to drive long-term secular demand for semiconductor and require faster, more powerful, more compact and more energy efficient semiconductors. Industry forecasts project semiconductor sales reaching approximately $1.6 trillion by 2030, which we believe will create significant opportunities for our products.

As semiconductors move to smaller geometries and new device architectures, they require innovative materials and stringent purity standards throughout manufacturing. Entegris offers the industry’s most comprehensive electronic materials portfolio, with core capabilities in materials science and materials purity, and complementary solutions that accelerate time to yield. We believe these capabilities are critical enablers of our customers’ technology roadmaps. We expect these trends to create significant opportunities for our products, expand our served addressable market and increase Entegris’ content per wafer, positioning us to outperform our markets over the long term.

Our business is organized and operated in two operating segments. These segments share common business systems and processes, technology centers and technology roadmaps.

•The Materials Solutions segment, or MS, provides materials-based solutions, such as chemical vapor and atomic layer deposition materials, chemical mechanical planarization (“CMP”) slurries and pads, ion implantation specialty gases, formulated etch and clean materials, and other specialty materials that enable our customers to achieve better device performance and faster time to yield, while providing lower total cost of ownership.

•The Advanced Purity Solutions segment, or APS, offers filtration, purification and contamination-control solutions that improve customers’ yield, device reliability and cost by ensuring the purity of critical liquid chemistries and gases and the cleanliness of wafers and other substrates used throughout semiconductor manufacturing processes, the semiconductor ecosystem and other high-technology industries.

Our complementary capabilities enable co-optimized, integrated solutions that improve device performance, lower cost of ownership and accelerate time to market. We address complex manufacturing challenges across deposition, CMP and post-CMP modules with solutions including advanced deposition materials, CMP slurries, pads and post-CMP cleaning chemistries (each from our MS segment), and CMP slurry filters, high-purity packaging and fluid monitoring systems (each from our APS segment). As leading semiconductor manufacturers implement molybdenum into advanced nodes, Entegris is uniquely positioned to support this transition and to solve challenges associated with integrating a new material through our expertise and solutions in precursors, deposition, etch, CMP consumables and contamination control.

ACQUISITIONS AND DIVESTITURES

On February 10, 2023, the Company terminated a definitive agreement to sell its Pipeline and Industrial Materials (“PIM”) business, which became part of the Company with the acquisition of CMC Materials, to Infineum USA L.P. At the time of the termination, the transaction had not received clearance under the Hart-Scott-Rodino Antitrust Improvements Act of 1976.

On March 1, 2023, the Company completed the sale of QED Technologies International, Inc. (“QED”), which became part of the Company with the acquisition of CMC Materials, to an affiliate of Quad-C Management, Inc. for $134.3 million.

On June 5, 2023, the Company terminated an Alliance Agreement (the “Alliance Agreement”) between the Company and MacDermid Enthone Inc., a global business unit of Element Solutions Inc (“MacDermid Enthone”). In connection with the termination of the Alliance Agreement, Entegris received net proceeds of approximately $191.2 million.

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On October 2, 2023, the Company completed the sale of its Electronic Chemicals (“EC”) business to FUJIFILM Holdings America Corporation (“Fujifilm”) for $675.3 million. The EC business, which was a separate reporting unit within the MS reportable segment, was acquired by Entegris as part of the acquisition of CMC Materials in July 2022.

On March 1, 2024, the Company completed the sale of its PIM business, to SCF Partners, Inc. The Company received gross cash proceeds of $263.2 million, or net proceeds of $256.2 million, and up to $25.0 million in cash earn-out payments contingent upon the performance of the PIM business in 2025 and 2026.

THE SEMICONDUCTOR ECOSYSTEM

Semiconductor manufacturing requires hundreds of complex, sensitive process steps in which a variety of materials are repeatedly applied to silicon wafers to build integrated circuits on the wafer surface. The areas of the semiconductor ecosystem that rely most heavily on our products and solutions are described below.

Photolithography. Photolithography is a process used to print complex circuit patterns onto wafers. The wafer is coated with a thin film of light-sensitive photoresist, exposed to light, and developed to create the pattern. Our products used throughout this process include:

•Liquid filtration, high-purity packaging and high-precision dispense systems that ensure pure, accurate and uniform distribution of contamination-free photoresists onto the wafer, enabling optimum yields; and

•Gas microcontamination control solutions that eliminate airborne contaminants that can disrupt the photolithography processes.

Etch and Resist Strip. During the etch process, thin film areas are selectively removed from the wafer surface to create the desired circuit pattern. The hardened resist must then be removed and the etched area cleaned using high-purity chemicals. Our products used during and after etch include:

•Selective etch chemistries enabling high aspect ratio structures, including 3D-NAND and gate-all-around (“GAA”) devices;

•Formulated cleaning solutions for photoresist and post-etch residue removal;

•Filters and purifiers that ensure purity of cleaning chemistries and achieve desired etch yields; and

•Precision-engineered coatings that protect equipment surfaces from corrosive chemistries and erosion while minimizing particle generation.

Deposition. During the deposition process, certain materials are transferred to the wafer surfaces through physical vapor deposition, or PVD, chemical vapor deposition, or CVD, and atomic-layer deposition, or ALD. Our products are critical to enabling new device architectures and ensuring device performance and manufacturing yields. These products include:

•Advanced precursor materials that meet the semiconductor industry’s composition, uniformity and thickness requirements for deposited films; and

•Filtration and purification products that remove contaminants during deposition, reducing wafer defects.

Ion Implant. Ion implantation is a repeated process that introduces dopants into semiconductor wafers to enhance conductivity. Our products used during ion implant include:

•Implant process gases and mixtures delivered through our Safe Delivery Source® (“SDS®”) and Vacuum Actuated Cylinders (“VAC®”) systems for safe, effective and efficient delivery; and

•Electrostatic chucks and proprietary low-temperature plasma coatings for core components critical to ion implantation equipment.

Chemical Mechanical Planarization. CMP is a polishing process used to planarize, or flatten, layers of material that have been deposited on silicon wafers. Our offerings include:

•CMP slurries for polishing semiconductor materials, including tungsten, dielectric materials, copper, tantalum (commonly referred to as “barrier”), molybdenum, aluminum, silicon carbide (“SiC”) and gallium nitride (“GaN”);

•CMP polishing pads used with slurries across a range of polishing tools, wafers, technology nodes and applications, including tungsten, copper, and dielectrics;

•Formulated cleaning chemistries that remove residues from wafer surfaces after the CMP process;

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•Filtration and purification solutions that remove select particles and contaminants from slurries and cleaning chemistries to prevent wafer defects; and

•Process monitoring and control equipment to maintain CMP slurry integrity.

Wafer and Reticle Transport. Our products, including front-opening unified pods (“FOUPs”), wafer transport and process carriers, standard mechanical interface pods (“SMIF pods”) and extreme ultraviolet (“EUV”) reticle pods, protect wafers and reticles from damage or abrasion and ensure purity during transportation and automated processing. This protection is essential because wafer processing involves hundreds of steps over several weeks, making damaged wafers costly to scrap.

Chemical Handling. Semiconductor and other high-technology manufacturing processes use large volumes of high-purity and hazardous chemicals. We provide solutions for handling and ensuring the purity of these chemicals, including:

•Ultra-high purity chemical container products, including drums, flexible packaging and associated coded connection systems, that maintain chemical purity, maximize utilization and ensure safe transport, containment and dispense of valuable, ultra-clean process fluids, from bulk chemical manufacturing to point-of-use in the manufacturing process; and

•Ultra-pure valves, fittings, tubings and sensing and control products for chemical distribution throughout the fab and in wet process tools.

Wafer and Package Testing. We develop and manufacture high-performance consumable products for cleaning advanced probe cards and test sockets at semiconductor manufacturing facilities and innovative polymer products for semiconductor fabs that improve front-end tool uptime and reduce operating costs.

INDUSTRY TRENDS

Emerging and Existing Applications. The semiconductor market has grown significantly over the past few decades and, despite periodic downturns, we expect the long-term growth trend to continue. Products and emerging applications—including AI, high-performance and cloud computing, smartphones, wearable technology, electric and autonomous vehicles, the Internet of Things, gaming, virtual/augmented reality, and smart healthcare— will drive semiconductor demand and create significant opportunities for our products. In particular, AI workloads are fueling demand for advanced logic chips with higher transistor density and specialized architectures, as well as High Bandwidth Memory (“HBM”) to support the enormous data throughput required for training and inference in large-scale models. AI is also accelerating innovation in chip packaging and interconnect technologies, such as chiplets and 2.5D/3D integration, to enable higher performance and energy efficiency in complex systems. We believe these trends position us to capitalize on growth opportunities in next-generation AI and high-performance computing by providing critical materials and process solutions that enable the production of advanced logic devices and HBM. Existing applications in data processing, wireless communications, broadband infrastructure, personal computers and consumer electronics are also expected to drive demand for semiconductors, and in turn, for our products.

Manufacturing Complexity and Device Architectures. Emerging applications require more powerful, faster and more energy-efficient semiconductors. In response, semiconductor architectures are changing and dimensions are shrinking, with increasing transistor complexity, extreme ultraviolet lithography, multilayered patterning, and vertical structures such as FinFET, 3D NAND and GAA devices. These advanced technologies and architectures require more process steps, new and innovative materials and sophisticated contamination control solutions. As manufacturers move toward atomic layer scale, materials must be delivered at increasing levels of purity from point-of-production to point-of-dispense on the wafer to maximize yields and minimize defects. We believe that the increase in process steps in lithography, deposition, CMP, etching and cleaning required to manufacture leading-edge semiconductors will increase the overall demand for our solutions.

New and Advanced Materials. New and advanced materials have played a significant role in enabling improved device performance, and we expect this trend to continue. As dimensions shrink, novel materials will be required to enable transistor connectivity. Our portfolio of critical materials includes advanced deposition materials, implant gases, CMP slurries, formulated cleaning chemistries, selective etch chemistries and high-purity wet chemicals. We believe our portfolio addresses many of the challenges our customers face as they introduce more complex architectures and new materials to improve device performance.

Materials Purity. Contamination control in a semiconductor fab is crucial for achieving acceptable device yields as feature sizes decrease and 3D structures proliferate. Our advanced filtration and purification products and solutions for air, bulk and specialty gas, and wet chemicals reduce defects and enable higher yields. Solutions such as FOUPs and high-purity drums ensure purity and protect critical materials throughout fabrication, allowing customers to store, process and transport critical

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materials in ultra-pure environments throughout the manufacturing process. We believe that the trend for greater materials purity will provide opportunities for our innovative materials management, filtration, purification, transport and process solutions.

Geopolitical Implications of the Semiconductor Industry. Certain governments are fostering domestic semiconductor manufacturing and the broader semiconductor ecosystem through initiatives such as the United States (“U.S.”) and European Union (“EU”) CHIPS Acts and similar programs in Japan and Korea. We have developed a manufacturing strategy to better serve our global customers as they build new fabs in various countries and seek reliable local supply chain partners. Recent examples of this strategy include our new facilities in Kaohsiung Science Park (“KSP”) in Taiwan and in Colorado Springs as well as our new Korea Technology Center in South Korea. In December 2024, we announced a definitive agreement providing for up to $77.0 million in funding under the CHIPS and Science Act in connection with our Colorado Springs facility, with installments of such award based on key milestone achievements. The Colorado Springs facility will increase service levels to new U.S. fabs and provide greater manufacturing resiliency through enhanced business continuity, while our KSP facility will enhance our ability to serve our customers efficiently and effectively in Taiwan and other Asia Pacific locations.

See “Item 1A. Risk Factors” for a more detailed description of the geopolitical risks we face.

Reliance on Trusted Suppliers. Our customers require key materials suppliers to demonstrate greater capabilities and resiliency, including sustainability, scalability, flexible manufacturing, quality control, supply chain management and effective collaboration on solutions. In response to these expectations, we leverage our manufacturing, operational and technical capabilities, along with our broad technology portfolio, to become an increasingly important and strategic trusted partner. We have established tech centers and manufacturing capabilities in strategic locations to better collaborate with and serve our customers. As we achieve greater scale, for example through the acquisition of CMC Materials, we will be able to better serve our customers, invest more in engineering, research and development (“ER&D”) and bring complementary, co-optimized solutions to market faster.

Continued Consolidation. Our semiconductor customer base has increasingly consolidated through mergers and acquisitions, making the maintenance and development of strong and close customer relationships even more essential. We also seek to broaden our customer base by leveraging our core capabilities, technologies and expertise to address adjacent market opportunities.

OUR COMPETITIVE STRENGTHS AND BUSINESS STRATEGY

We believe our platform is well-positioned for several reasons.

•In 2025, our revenue was predominantly unit-driven or recurring from products consumed during semiconductor manufacturing. Our revenue is therefore more impacted by global semiconductor demand and GDP growth than by semiconductor capital equipment sales, which have historically been more cyclical.

•Our solutions are increasingly specified into our customers’ manufacturing processes and tailored to their unique process conditions and technical roadmaps. We collaborate closely with our customers to create complementary solutions across platforms and modules, optimizing value and accelerating time to yield. Switching away from our products may be costly and time-consuming for our customers and may introduce risk to their manufacturing yields.

•Our broad product portfolio is not overly concentrated on any single product or product platform. In 2025, no single product platform represented more than 3% of our net sales.

•Our customer base is broad and diverse, with customers spanning the semiconductor ecosystem, including chemical companies, equipment manufacturers and semiconductor fabs.

•We have streamlined our platform to focus on core businesses that we believe have the greatest strategic value in supporting our customers and their technology roadmaps. During 2023 and 2024, we completed the divestitures of QED, our EC business and our PIM business and terminated the Alliance Agreement with MacDermid Enthone.

•We intend to continue paying down debt while investing in research and development and advanced manufacturing capabilities to maintain and expand our technology leadership and drive organic growth.

Customers Collaboration. We believe the strong relationships we have with our customers, including leading logic and memory semiconductor manufacturers, original equipment manufacturers (“OEMs”) and semiconductor materials suppliers, are

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critical to our long-term success. We have built strong relationships with our customers through our global presence, which allows us to engage with our customers where they operate. For example, we invested in our KSP manufacturing facility in Taiwan and a new research center in South Korea to collaborate locally on solutions for our customers’ yield, reliability and performance challenges. We actively engage with our key customers to design technology roadmaps tailored to their strategic plans. Our customer relationships provide us with collaboration opportunities at early product design stages—in certain cases years ahead of commercialization—which enable us to introduce new products and applications that serve their needs. We intend to continue to strengthen these relationships, including through collaborations and joint development activities.

Supporting the Integration of New Materials. We understand the significant challenges our customers face as they introduce new materials into advanced semiconductor manufacturing processes. New materials must outperform incumbents and deliver equivalent or higher yields without causing integration issues with other process steps. For example, introducing a new material at the deposition stage impacts CMP, post-CMP cleans, etch and post-etch residue cleans, and filter selection across multiple process stages. We believe our ability to both manufacture new materials and support customers in evaluating how those materials interact with other manufacturing stages is a key value proposition. We leverage our understanding of upstream and downstream interactions between unit process steps to tailor product offerings that lower integration risks. We believe this approach accelerates new material introduction by reducing development cycles and improving time to market and yield for our customers.

Technology Leadership and Strong, Diverse Portfolio. Our customers require advanced, customized, reliable and cost-effective products and materials, along with technological and application expertise to enhance their productivity, quality and yield as they advance to next generation technology nodes. We believe our comprehensive offering provides us with a competitive advantage, enabling us to meet a broad range of customer needs and to serve customers across the semiconductor manufacturing ecosystem. To build upon our technology leadership, we have made, and plan to continue to make, significant investments in ER&D initiatives to continue to advance our technology and product offerings, increasingly focusing on meeting the needs of next generation technology nodes. We invested approximately $329.0 million, $316.1 million and $277.3 million on such activities in 2025, 2024 and 2023, respectively, representing 10.3%, 9.8% and 7.9% of our net sales, in 2025, 2024 and 2023, respectively. Recent product introductions include liquid filtration and purification products currently being utilized in 2 nanometer node production, advanced deposition materials for next generation transistor and interconnect technologies, polishing slurry and pad solutions with post-cleaning formulations for advanced memory applications, selective etching formulations for advanced device applications, advanced reticle pods for EUV photolithography applications, advanced 300 millimeter wafer carriers and advanced coatings meeting rigorous defectivity specifications for advanced technology node manufacturing.

Global Infrastructure. We maintain a global infrastructure of design, manufacturing, logistics, distribution, service and technical support facilities to meet the needs of our global customers. We further enhanced this footprint with our KSP facility in Taiwan, our new Colorado Springs manufacturing facility, and a new tech center in South Korea. We have also expanded capacity at existing facilities, including liquid filtration in Billerica, Massachusetts and Yonezawa, Japan, deposition materials in Toronto, Ontario, materials handling in Chaska, Minnesota and JangAn, Korea, CMP filter and CMP slurries in Taiwan, SiC slurries in Aurora, Illinois and solid precursors in Burnet, Texas.

Operational Excellence. Our customers are increasingly focused on the effectiveness, dependability, resiliency and consistency of their supply chains. Our strategy is to continue to develop our supply chain and manufacturing capabilities into a competitive advantage through operational excellence, ensuring employee safety and product quality. We intend to continue investing in the following priorities:

•Manufacturing equipment and facilities with leading-edge process technology, including advanced cleanroom and cleaning procedures;

•Automated manufacturing, statistical process controls and quality and supply chain management systems; and

•A skilled, agile organization capable of rapid design, prototyping and high volume manufacturing ramp while promptly responding to customer requirements.

Leveraging Our Collective Expertise. We leverage expertise across our segments and broad portfolio of advanced materials, materials handling and purification capabilities to create innovative, new and co-optimized solutions addressing unmet customer needs. For example, certain of our formulated cleaning chemistry products are developed by our MS segment with collaboration from our filtration expertise in our APS segment, packaged with our ultra-clean container and connector system, and delivered to the process tools through fluid handling systems each from our APS segment. In the process tools, these cleaning chemistry products, may be purified through systems produced by our APS segment. Our advanced deposition materials business similarly requires cross-segment capabilities, including synthesis of unique molecules, purification of these

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materials and safe transport and delivery onto the wafer, free from contaminants, at a high throughput. As the semiconductor industry adopts new interconnect metals like molybdenum, our portfolio of deposition precursors, CMP slurries and pads, post-CMP cleans and selective etch formulations, combined with our filtration, sensing and delivery products, enables us to create complementary solutions that enhance device performance and optimize time to yield.

Strategic Acquisitions, Partnerships and Related Transactions. We have completed the integration of CMC Materials, which broadened our product and technology capabilities and increased our scale, and we streamlined our portfolio through the divestitures of QED, our EC business and our PIM business and the termination of the Alliance Agreement with MacDermid Enthone. We expect to continue pursuing strategic acquisitions and partnerships to address product offering gaps, secure new customers, diversify into complementary markets, broaden our technological capabilities, access regional markets and achieve scale benefits. We have a strong track record of executing and integrating these transactions. Prior to our acquisition of CMC Materials, we completed numerous small to mid-sized acquisitions that strengthened our product portfolio. We periodically reevaluate existing businesses and may sell, restructure or replace businesses. We also evaluate opportunities for strategic alliances, joint development programs and other strategic investments to achieve a variety of objectives including expanding our manufacturing capacity, producing products closer to our customers, accelerating product development and developing new supply sources.

Adjacent Markets. We leverage our semiconductor industry expertise and core capabilities in material science and material purity to develop product extensions for other industries requiring materials integrity management, high-purity fluids and integrated dispense systems. We plan to continue selectively developing product extensions for adjacent markets and, in doing so, seek to increase our total available market and return on ER&D investments.

Corporate Social Responsibility. Our corporate social responsibility (“CSR”) program is embedded in our business strategy with 2030 goals built around four pillars: Innovation, Safety, Personal Development and Inclusion, and Sustainability. Recent accomplishments include achieving a “Gold” rating from EcoVadis (96th percentile) and a “B” rating from the Carbon Disclosure Project (“CDP”). Our annual CSR report is published on our website at http://www.Entegris.com under “About Us - Corporate Social Responsibility”.

OUR SEGMENTS

Our business is organized and operated in two segments: Materials Solutions, or MS, and Advanced Purity Solutions, or APS. These segments collaborate to create new and increasingly integrated solutions, for example, leveraging the purification and handling expertise of the APS segment to ensure purity and stability of CMP slurries and cleans solutions from the MS segment and leveraging the advanced materials expertise from the MS segment in formulated cleaning chemistries and in slurry formulation to develop differentiated filtration and purification solutions in the APS segment. The following is a detailed description of our segments.

MATERIALS SOLUTIONS SEGMENT

MS provides complementary materials solutions for semiconductor manufacturing and advanced packaging, including deposition materials, integrated circuit CMP solutions, high-performance etch and clean chemistries, gases and materials, and safe and efficient materials delivery systems that enhance our customers’ product performance. Our ability to deliver advanced materials at high purity, together with critical products like CMP slurries and pads, enables our customers’ technical roadmaps, improves device performance, enhances yields and is critical to leading-edge logic and memory devices. We believe the growing long-term demand in advanced logic and memory, the need for new and innovative materials at advanced nodes with increasingly complex device designs, and the importance of recess chemistries and specialized cleaning solutions will drive demand in our MS segment.

Molecular and Engineered Solutions. We offer the following Molecular and Engineered Solutions products:

Advanced Deposition Materials Products. Our advanced deposition materials include ultra-pure liquid and solid precursors, including organometallic and inorganic precursors for the deposition of molybdenum, tungsten, titanium, hafnium, zirconium, aluminum and other emerging metal and metal-based films. We also offer organosilane precursors for the deposition of silicon oxide, silicon nitride and advanced dielectric materials films as well as a variety of molecules required to enable area-selective deposition applications. These precursors are designed in close collaboration with OEM process tool manufacturers and device makers to produce application-specific solutions compatible with complex material integrations. We offer delivery systems and containers for reliable storage and delivery of low volatility solid and liquid precursors required in atomic layer deposition processes. Combined with our proprietary corrosion-resistant coatings and filtration solutions, we believe our advanced deposition solutions enable the industry’s highest purity levels, improving device performance.

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Specialty Gases. Our specialty gas solutions provide advanced gas delivery and services for electronics industry applications, specifically implant. Our SDS® cylinders safely store and deliver hazardous gases, such as arsine, phosphine, germanium tetrafluoride and boron trifluoride, at sub-atmospheric pressure using our proprietary carbon-based adsorbent materials. These cylinders minimize potential leaks during transportation and use while allowing more gas storage, providing significant safety, environmental and productivity benefits over traditional high-pressure cylinders. We also offer VAC, a complementary technology to SDS, where select implant gases and gas mixtures are stored under high pressure but delivered sub-atmospherically.

Specialty Coatings and E-chucks. Our high-performance specialty coatings, including Pegasus™ and Cearus™ coatings, provide erosion resistance, minimize particle generation and prevent contamination on critical components in semiconductor and other high-technology manufacturing environments. We also provide electrostatic chucks for core components critical to delivery equipment.

Advanced Cleaning Materials. We develop and manufacture high-performance consumable products for cleaning advanced probe cards and test sockets, improving yields and throughput in wafer and package test operations at semiconductor device manufacturers, foundries and outsourced semiconductor assembly and test (“OSAT”) facilities.

Formulated Solutions. Our Formulated Solutions business leverages our CMP and related capabilities to provide the following products:

CMP Slurries. We develop, produce and sell CMP slurries for polishing a wide range of materials used in semiconductor devices, including tungsten, dielectric materials, copper, barrier, aluminum and other emerging materials. We believe that we are uniquely positioned to develop and optimize new slurries for emerging materials such as molybdenum.

Substrates. We also offer slurry products for polishing bare silicon wafers and other ultra-hard surface materials, including SiC and GaN substrates and disk substrates and magnetic heads used in hard disk drives for power electronics and advanced communications end-markets.

CMP Pads. CMP pads are critical in the CMP process to flatten and polish wafers and can significantly impact process performance. Our CMP pads, such as our NexPlanar™, Medea™ and Ultra pad products provide the hardness, pore sizes, compressibility and groove patterns required for various CMP applications. Our Epic Power™ CMP Pads are designed for SiC wafers and offer a balance of best-in-class performance, quality and cost of ownership.

Post-CMP Cleans and Brushes. Our post-CMP clean chemistry products, including PlanarClean® and ESC 784, efficiently remove abrasive slurry particles and organic residue from wafers after the CMP process without contributing to contamination. In addition, our consumable polyvinyl alcohol roller brush products are used to clean wafers following CMP.

Surface Preparation and Integration Products. We offer a range of materials used to prepare semiconductor wafer surfaces during the manufacturing process and to integrate with materials on the wafer. Our etch cleaning solutions address applications including post-etch residue removal, wafer etching, organics removal, resist removal, edge bead removal and corrosion prevention. We also offer selective etch products designed for advanced architectures such as 3D-NAND.

Advanced Materials Markets (“AMM”). AMM develops and sells products to customers in markets outside semiconductor manufacturing. AMM includes our POCO® premium graphite products for precision consumable electrodes for electrical discharge machining, hot glass contact materials for glass product manufacturing and forming and other consumable products for various industrial applications, including aerospace, optical, medical devices, air bearings and printing. AMM also provides specialty chemicals and materials for end-markets, including aircraft, aerospace, wound care and medical devices.

ADVANCED PURITY SOLUTIONS SEGMENT

The APS segment focuses on ensuring critical materials purity. The APS segment offers solutions to ensure the purity of critical liquid chemistries, process gases, wafers and substrates in semiconductor manufacturing and other high-technology industries. Our liquid and gas filtration and purification products are critical to semiconductor manufacturing processes, including photolithography, deposition, planarization and surface etching and cleaning, because they remove nanometer-sized contaminants, reducing defects, improving manufacturing yield and enhancing long-term device reliability. Our microenvironment solutions improve yields by ensuring wafer purity and protecting wafers from contamination and damage during manufacturing and transportation, while our fluid management solutions ensure purity and safe delivery of advanced chemicals from the chemical manufacturer to the point-of-use in the semiconductor fab.

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We believe the value proposition of materials purity is increasing, in large part due to growing manufacturing complexity, continuous node shrink in logic semiconductors and 3D NAND market expansion, as the risk and cost of contamination-related yield loss grows.

Liquid Microcontamination Control Products. We offer products that control contaminants in our customers’ wet processes in the fab environment and upstream at the chemical manufacturers. Our Torrento® filtration solutions are used for aggressive acid and base chemistries for semiconductor fabs and specialty chemical manufacturers, including our MS segment. Our Trinzik® and Microgard™ products filter chemicals and ultra-pure water for high purity chemical manufacturers and semiconductor fabs. Our Impact® filtration solutions are used in point-of-use photochemical dispense applications requiring superior flow rate performance and reduced microbubble formation. Our Protego® solutions reduce metallic contamination in chemical manufacturing and critical wafer rinsing and drying applications. We also provide membrane and liquid filtration offerings serving semiconductor, pharmaceutical and medical applications.

Gas Microcontamination Control Products. We offer a broad portfolio of products designed to remove particulate and molecular contaminants from controlled environments and gas streams in semiconductor, flat panel display and LED fabs. Our Wafergard® gas filters reduce outgassing and remove particle contamination. Our GateKeeper® gas purifiers and large, facility-wide gas purification systems provide continuous purified gas supply to customer fabs from the point of creation on the gas pads to the point-of-use at the wafer by chemically reacting and absorbing contaminants, effectively removing gaseous contaminants down to part-per-trillion levels. Our Chambergard™ gas diffusers enable semiconductor equipment manufacturers to rapidly vent tools to reduce process cycle times without adding particles to wafers. Our Vaporsorb products eliminate airborne molecular contamination from critical process tool areas or cleanrooms in the fab. These products are used in or alongside critical processing tools to improve yield and reduce tool downtime.

Microenvironment Solutions. Our wafer carriers are high-purity “micro-environments” that carry wafers between manufacturing process steps, protecting and ensuring purity of wafers throughout the fabrication life cycle. We lead the market for 300 millimeter FOUPs, wafer transport and process carriers and SMIF pods for 200 millimeter wafer applications. Our Ultrapak® products for wafers ranging from 100 to 200 millimeters ensure the clean and secure transport of wafers from wafer manufacturers to semiconductor fabs. We also offer a front-opening shipping box (“FOSB”) for the transportation and automated interface of 300 millimeter wafers. Our EUV reticle pod provides defect-free protection of EUV reticles during shipping, storage, handling and vacuum-transferring operations.

Fluid Management Products. Our fluid management solutions maximize fab productivity, improve fab yields and reduce cost of ownership throughout bulk chemical delivery, CMP, wet etch and clean and lithography processes. Our packaging and container products, from low-volume containers to transport high-value photoresist chemistries, such as our NOWPak® products, to large intermediate bulk containers, such as our FluoroPure® products, ensure chemistry purity. We are a leader in high-purity fluid handling products including valves, fittings, tubing, piping and connection systems such as PrimeLock® connections, for high-purity chemical applications. Our proprietary digital flow control technology improves chemical uniformity on wafers. Our IntelliGen® high-precision liquid dispense systems enable uniform application of advanced chemistries, integrating our valve control expertise with filter device technologies to conserve high-value chemistry and reduce defects. Our instrumentation solutions ensure consistency and monitoring of complex blended chemistries, including our on-tool Accusizer® system for automated particle size and count analysis in semiconductor and life science applications, and our SemiChem® systems and Invue® products for measuring chemical concentration in CMP slurries and formulated cleaning chemistries.

OUR CUSTOMERS AND MARKETS

Our customers include logic and memory semiconductor device manufacturers, semiconductor equipment makers, gas and chemical suppliers and wafer growers serving the global semiconductor industry. We also serve OSAT facilities, flat panel display manufacturers and hard disk drive component and device makers, as well as customers in solar, life sciences, electrical discharge machining, glass manufacturing, aerospace and biomedical implant manufacturing.

The following table shows the percentage of our net sales to top customers and the percentage of our net sales that are domestic and international during the three most recent fiscal years.

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We may enter into supply agreements with our customers, though these agreements typically do not include long-term purchase commitments. Instead, we work closely with our customers to develop non-binding order forecasts, though our customers may cancel orders, adjust quantities, or delay for reasons beyond our control.

SALES, MARKETING AND SUPPORT

We sell our products through our direct sales force and through strategic independent distributors in all major semiconductor markets. As of December 31, 2025, our sales and marketing force consisted of approximately 700 employees worldwide.

Our unique technical capabilities and long-standing customer relationships enable early collaboration with our customers at the product design stage, helping us develop new materials and solutions that address customer challenges, including material selection, integration and contamination risk. Our sales representatives provide global technical support.

We believe that our technical and application support services are important to our sales and marketing efforts, including needs assessments, product and material evaluations, system design, user training and regulatory compliance assistance. Additionally, our field application engineers in the major markets we serve work directly with our customers on product qualification and process improvements. We maintain a network of service centers, applications laboratories and technology centers in key U.S. and international markets to support our products and our customers with their advanced development needs, provide local technical service and application support and ensure fast turnaround.

COMPETITION

The market for our products and solutions is highly competitive. While price is an important factor, we compete primarily on the basis of the following factors:

We believe we compete favorably based on these factors. We believe that our key competitive strengths include our broad product offerings, our strong ER&D infrastructure, our manufacturing excellence, our quality control systems, low total cost of ownership of our products, our close collaboration on customer technical roadmaps and our deep applications expertise in semiconductor manufacturing processes. However, our competitive position varies by market segment and specific product area.

The competitive landscape is varied, ranging from business segments within large multinational companies to small regional or regionally-focused companies. While product quality and technology remain critical, industry trends indicate a shift to localized, cost-competitive and consolidated supply chains. Because of the unique breadth of our capabilities, we believe that there are no global competitors that compete with us across the full range of our product offerings.

Notable competitors with respect to our reporting segments include:

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ENGINEERING, RESEARCH AND DEVELOPMENT

We believe that technology is critical to our success. We plan to continue to invest significantly in ER&D, balancing short-term market needs with longer-term initiatives. As of December 31, 2025, we had approximately 1,600 employees in ER&D. We supplement internal efforts by licensing third-party technology and acquiring rights to products with externally owned technologies. ER&D expenses include personnel costs, direct and indirect project development costs and outside service providers.

We believe we have a rich pipeline of development projects. Our ER&D efforts focus on developing and improving our technology platforms for semiconductor and advanced processing applications and identifying and developing products for new applications, often working directly with our customers to address their particular needs.

We have ER&D capabilities in many locations where our customers operate, including Taiwan, South Korea, the U.S., Japan, Canada, China, Singapore and Malaysia. Using sophisticated methodologies, we research, develop and characterize our materials and products to reduce risks to the integrity of critical materials that our customers use in their manufacturing processes.

In addition, we collaborate with leading universities and industry consortia—including Stanford, Yale, MIT, University of Illinois (Champaign Urbana), SUNY Albany, the Fraunhofer Institute, imec® and CEA-LETI—to extend our ER&D reach and access ideas and concepts beyond the time horizon of our internal development activities.

PATENTS AND OTHER INTELLECTUAL PROPERTY RIGHTS

As of December 31, 2025, we owned approximately 4,400 active patents worldwide, of which about 850 were U.S. patents. Additionally, we owned about 2,400 pending patent applications globally. We rely on a combination of patent, copyright, trademark and trade secret laws and license agreements to establish and protect our proprietary rights, and we seek to refresh our intellectual property on an ongoing basis through continued innovation. We also license, and expect to continue to license, certain patents and technology from third parties for use in the manufacture and distribution of our products; however, we do not consider any particular Company patent or third-party license to be material to our business.

We vigorously protect and defend our intellectual property. We require each of our employees, including our executive officers, to enter into agreements to keep our proprietary information confidential and to assign to us inventions made during the course of employment. We also require outside scientific collaborators, sponsored researchers and other advisors and consultants who receive confidential information to execute confidentiality agreements with us. These agreements generally provide that all confidential information developed or disclosed during the course of the relationship with the Company will not be disclosed to third parties except in specific limited circumstances.

MANUFACTURING

Our customers rely on our solutions to ensure the integrity of critical materials in their manufacturing processes. Our solutions provide purity, cleanliness, consistent performance, dimensional precision and stability. Our ability to meet customer expectations, combined with our substantial investments in worldwide manufacturing capacity and comprehensive supply chain strategy, positions us well to respond to increasing demands for yield-enhancing materials and solutions.

To meet our customers’ needs worldwide, we have established an extensive global manufacturing network with facilities in the U.S., Canada, China, Japan, Malaysia, Singapore, South Korea and Taiwan. Given the critical importance of contamination control in our industry, we maintain Class 100 to Class 10,000 cleanrooms for manufacturing and assembly. Our worldwide advanced manufacturing capabilities, which we believe are important competitive advantages, include:

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We have invested significantly in systems and equipment to create innovative products and tool designs, including metrology and 3D printing capabilities for rapid analysis and prototype production. We also use contract manufacturers for certain products in both the U.S. and Asia.

RAW MATERIALS

Our products are made from a wide variety of raw materials that are generally available from multiple sources of supply, and our strategy is to secure diverse sources to enable the desired performance of our products and monitor those sources as necessary to provide supply assurance. However, certain raw materials and components—such as certain filtration membranes and polymer resins in our APS segment and certain engineered abrasive particles, specialty and commodity chemicals and petroleum coke in our MS segment—are obtained from a single source, a limited group of suppliers or from suppliers in a single country. We have entered into multi-year supply agreements with certain suppliers for the purchase of raw materials in the interests of supply assurance and cost control.

GOVERNMENTAL REGULATION

Our operations are subject to federal, state and local regulatory requirements relating to export controls, environmental, waste management and health and safety matters. These include measures governing the release, use, storage, treatment, transportation, discharge, disposal and remediation of contaminants, hazardous substances and wastes, as well as practices and procedures applicable to plant construction and operation. Although some risk of costs and liabilities is inherent in our business, we believe we operate in substantial compliance with applicable regulations. However, new or more stringent requirements or enforcement policies could be adopted, which could adversely affect us. We expect capital expenditures will be necessary to maintain compliance with environmental and health and safety laws, but we do not expect these expenditures to be material.

See “Item 1A. Risk Factors” for a more detailed description of the regulatory risks we face.

HUMAN CAPITAL RESOURCES

Our employees are critical to achieving our mission of helping customers improve their productivity, performance and technology by providing enhanced materials and process solutions for the most advanced manufacturing environments. To attract and retain top talent, we are focused on creating a diverse, inclusive and safe workplace with competitive total rewards and quality development and training opportunities.

As of December 31, 2025, we had approximately 7,700 employees, of whom approximately 51%, 15%, 11%, 9%, 7%, 5% and 2% are located in North America, Southeast Asia, Taiwan, Japan, South Korea, China and Europe, respectively. Given the variability of business cycles in the semiconductor industry and the rapid response time required by our customers, we must be able to quickly adjust the size of our production staff to meet customer demands and maximize efficiency, using skilled temporary labor when appropriate. None of our employees are represented by a labor union or covered by a collective bargaining agreement other than statutorily-mandated programs in certain international jurisdictions. We believe that our labor relations have generally been good.

Culture. Our organization is built around what we refer to as our PACE values: our core values of treating people with respect and dignity, acting honestly and consistently, encouraging creativity and innovation and a dedication to excellence. These values foster a positive work environment that allows employees to develop professionally and encourages continued innovation.

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We regularly conduct employee surveys to understand their perspectives. During 2025, topics included commitment to Entegris’ core values, safety and general employee satisfaction. Management uses this information to inform decision-making on employee matters, aiming to continue to be an employer of choice.

We believe that maintaining a culture of diverse perspectives, experiences and backgrounds enables us to innovate more effectively and perform better overall. To that end, we seek to promote diverse backgrounds and perspectives throughout our organization and strive to provide fair and equal opportunity for career development and advancement to all our employees. An example of this commitment is our Employee Network groups, which focus on personal development and career empowerment and foster a culture of inclusive collaboration.

Health and Safety. Our success depends on the well-being of our employees. We maintain a culture with an intense focus on safety and strive to identify, eliminate and control workplace risk to prevent injury and illness. Our employees have access to a global safety management system and are encouraged to report incidents, near misses or other observations. Management uses this information to set safety-related policies and goals for future performance.

We also design our products with end-user safety in mind. Our SDS products are designed to minimize potential leaks during transportation and use of hazardous gases, providing significant safety, environmental and productivity benefits over traditional high-pressure cylinders. Our fluid-handling products, such as tubing, valve, fittings and drum products, are used to safely store, transport and dispense volatile and dangerous chemistries, protecting those who work with them.

Total Rewards. Our total rewards program is designed to attract and retain talented employees through competitive pay, health and welfare, work-life benefits and financial wellness programs that support our employees and their families. We design our programs with the core belief that our employees are at their best when they prioritize their emotional and physical health, and we review and assess these programs annually. Examples of our benefits include a Global Employee Support Program, which provides access to mental and emotional well-being resources, and our Employee Education Assistance Program, which supports continued education to advance careers at Entegris. We also have a global Rewards and Recognition program that recognizes outstanding individual achievement that earn tangible business results, reinforcing our corporate values and culture.

Talent Development and Training. We are committed to the ongoing training and development of our employees. We foster an on-the-job training and development culture by investing in rotational development programs in operations, supply chain, and engineering. We continuously expand technical and leadership training through our Entegris Great Leader Profile, Management Achievement, and Supervisor Training programs to advance leadership and management skills for career growth. Employees receive feedback and development discussions through formal and informal review sessions throughout the year. While we continue to search for new perspectives with external hires, we also provide opportunities for employees to grow their careers at the Company and regularly fill open vacancies with internal candidates. Management systematically assesses succession planning for key positions and identifies high potential employees for future growth and development.

Oversight. Our Board of Directors, through the Management Development and Compensation Committee, oversees human capital matters. This includes receiving regular updates from our Senior Vice President, Global Human Resources, and facilitating discussion on workforce initiatives, employee surveys, hiring and retention, demographics, labor relations, compensation and benefits, succession planning and training. The Board’s oversight helps identify and mitigate labor and human capital management risks, and is part of the broader framework that guides how we attract, retain and develop a workforce that aligns with our values and strategies.

For additional information on these important initiatives, see our annual corporate social responsibility report on our website at http://www.Entegris.com under “About Us - Corporate Social Responsibility.”

OUR HISTORY

Entegris has been helping customers solve critical materials challenges and enhance manufacturing yields for almost 60 years, tracing its corporate origins to Fluoroware, Inc., which began operating in 1966. The Company was incorporated in Delaware on March 17, 2005 through a merger of Entegris, Inc., a Minnesota corporation, and Mykrolis Corporation, a Delaware corporation. The Company subsequently acquired ATMI, based in Danbury, Connecticut, on April 30, 2014 and CMC Materials, based in Aurora, Illinois, on July 6, 2022.

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AVAILABLE INFORMATION

Our Internet address is www.entegris.com. On this website, under the “About Us-Investor Relations-Financial Information” section, we post the following filings as soon as reasonably practicable after they are electronically filed with, or furnished to, the U.S. Securities and Exchange Commission (“SEC”): our annual, quarterly, and current reports on Forms 10-K, 10-Q, and 8-K; our proxy statements; any amendments to those reports or statements, and Form SD. All such filings are available on our website free of charge. The SEC also maintains a website (www.sec.gov) that contains reports, proxy and information statements, and other information regarding issuers that file electronically with the SEC. The content on our website and any other website as referred to in this Annual Report on Form 10-K is not incorporated by reference into this Annual Report on Form 10-K unless expressly noted.