CMP Technology - Dow Chemical

1. Nick Gutwein
President, CMP Technologies
Goldman Sachs “Exhilarated by Electronics” Forum -
July 12, 2005

2. 2
Forward Looking Statement
The presentation today may include forward-looking
statements as that term is defined in securities law,
including but not limited to anticipated plans, litigation
and environmental matters, currency effects,
profitability, and other commitments or goals. Such
statements are subject to a number of risks and
uncertainties, many of which are listed in Rohm and
Haas’ 10-K filing with the Securities and Exchange
Commission.
Copies of all recent SEC filings, and additional
information about Rohm and Haas, are available
through our web site: http://www.rohmhaas.com.

3. 3
Regulation G
The presentation today may include the display of some
company data that do not directly conform to generally
acceptable accounting principles, or GAAP. Management
believes that the presentation of some non-GAAP data
provides investors with additional insight into the ongoing
operations of the business. These measures should not
be viewed as an alternative to GAAP measures of
performance. Furthermore, these measures may not be
consistent with similar measures provided by other
companies.
All non-GAAP data in the presentation are indicated by a
footnote. Tables showing the reconciliation between the
GAAP and non-GAAP measures are available, with
today’s presentation, on the investor section of our web
site at http://www.rohmhaas.com.

4. 4
• Rohm and Haas Today
• Focus Areas
• Electronic Materials
• Semiconductor & CMP Technologies
Agenda

5. 5
Rohm and Haas Today
2004 Performance
$2.22 (+76%)Earnings per Share
$882 MMCash from Operations
6.8%Net Earnings Margin
29.2%Gross Margin
$497 MillionNet Earnings
$7.3 B (+14%)Net Sales
2004

6. 6
Rohm and Haas Today
We have a Diverse Portfolio
2004: Sales $7.3 Bn
Salt
$829
Performance
Chemicals
$1,590
Adhesives & Sealants
$693
Coatings
$2,395
Monomers*
$543
Electronic Materials
$1,250
*External Sales

7. 7
Rohm and Haas Today
We Serve a Broad Set of End Markets
End Markets Served
Food & Retail
2%
Paper
4% Building & Construction
29%
Electronics
17%
Industrial and Other**
13%
Packaging
11%
Automotive/
Transportation^
10%
Water*
7%
Household &
Personal Care
7%
* Water includes water softeners (salt & equipment)
** Other includes Biocides, Healthcare, Oil Additives
^ Automotive/Transportation includes ice control salt and road marking

8. 8
Rohm and Haas’ Focus
• Sales Growth & Margin Expansion
– Innovation
– Sales and Marketing
– Geographic Expansion
– Efficiency
• Cash Generation & Deployment
• Strong Governance

9. Electronic Materials
Business Overview

10. 10
Global Electronics Market
$950 Billion
Computers
38%
Military
9%
Telecom Infrastructure
17%
Medical & Industrial
11%
Auto
7%
Wireless/Handset
8%
Consumer Electronics
10%
Source : IC Insights 2003 and ROH estimates

11. 11
Electronic Materials Business Profile
Semiconductor
Device
Interconnect/
Packaging
PWB/
Assembly
End-Use
DevicesSilicon
CMP Metal Finishes for
Connectors &
Electronic Devices
Electroplated
Bump
Processes
Solderable
Finishes
Thick
Photoresists
Dielectrics
Microfabrication
Series and
Optoelectronic
Packages
Imaging
Metallization
Embedded
Passives
Solder Masks
Optoelectronics
Specialty High-
end Laminate/
Copper
Lamination
Foils
• Laptops/PCs
• Smart Homes
• Cell Phones
• Appliances
• Game Centers
• Automobiles
Photoresists
CMP
Anti-reflectants
Electroplated
Copper
Chemistries
Low-k
Dielectrics
(ILD)
Ancillaries

12. 12
Electronic Materials Business
195239Packaging and Finishing Technologies
614714Semiconductor Technologies
$270$297Circuit Board Technologies
20032004MM $
Sales by Segment

13. 13
Some of Our Partners
A few of our relationships that support our growth and product development

14. 14
Circuit Board Technologies
• Global leader in products/processes for printed
wiring boards
• Core strengths in metallization and imaging
• Driving innovation to enable enhanced
performance
– Low k dielectrics; embedded passives;
optoelectronics
• Global footprint positioned for growth

15. 15
Packaging and Finishing Technologies
Electronic Materials Markets
Solderable finishes for
Conventional IC packaging
Durable finishes for Fixed
and removable connectors.
Solderable finishes for
Fixed capacitors.
New materials for
advanced IC Packaging
• Chip size packages
• Wafer level packaging

16. 16
Semiconductor Technologies
Global Photoresist Market $770 Million
Major Manufacturers End Use
Deep UV
41%
193nm DUV
6%
G Line
18%
JSR
21%
TOK
22%
Others
21%
ROH
19%
Sumitomo
9%
I Line
35%
ShinEtsu
8%
Source: Company and Industry estimate 04

17. 17
Polishing by CMP
• Smoothing out layers to make them flatter
Si Wafer
Polishing Pad
InterconnectsOxide
Polishing slurry
Load
Travel
horizontal deformation length
vertical
deformation length

18. Benefits of CMP
No CMP With CMP
Printing over rough
terrain means lower
focus depth so printing
can’t be fine
Removing the “hills
and valleys” lets
printing be finer
40% of all Chips made now use CMP!

19. 19
Semiconductor Technologies
Global CMP Market $837 Million
Other
8% Cabot
36%
Planar/Arch
3%Hitachi
6%Fujimi
4%
Freudenberg
2%
ROH
41%
Source: Corporate TAM Model (2004.11.29)

20. 20
Growth: Semiconductor Materials*
Sales Index
ROH CAGR = 12.1%
Global Market
CAGR = 9.8%
*Materials : Worldwide Photoresist , Pad & Slurry Sales
Source: Gartner Dataquest, SIA and Company estimates

21. 21
Semiconductor Technologies
World Wide Wafer Starts, by Node
MillionsofWaferStarts,200mmNormalized
Source: SIA

22. 22
Semiconductor
Outlook
WW Semiconductor Revenue
137
126
149
204
139
141
166
213
232
230
256
292
-8.5%
18.9%
1.2%
18.3%
28.0%
8.9%
(0.7%)
11.1%
14.2%
-32.0%
36.8%
0
50
100
150
200
250
300
350
400
450
500
1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008
Year
$Billions
-40%
-30%
-20%
-10%
0%
10%
20%
30%
40%
Average Pessimistic Optimistic % Change - Avg.
• Slowdown in wafer starts began in early Q404, continued thru Q105
• Logic and Asian foundries hit hardest
• Memory and IDMs remain stable to growing
• Excess inventory in semi chain from $1.6bn in Q4 to $1.0bn by start of Q105
• Inventory now ‘in balance’ and recovery has started in Q2
• Expectation of stronger demand in second half

23. 23
1
10
100
1000
10000
100000
1000000M
onth
1
12
24
30
36
42
48
54
60
66
72
78
Time (months)
Waferstarts/month
Development Production
Production equipment buy decision
Process/equipment design freeze
Process development begins
Volume production begins
Downselect for suppliers
Prodn. Maturity
(yield >99%
Semiconductor Device
Node Timeline
Source: 2003 ITRS roadmap executive section

24. 24
R & D Focus: Led by Roadmaps
Evolution of Circuit Boards IC Packaging Technology Roadmap
Roadmap for Tomorrow’s Chips
Smallest
Feature
Size in
Chip
(microns)
All three roadmaps help
guide our R&D efforts.

25. 25
Electronic Materials Strategy and
Focus
• R&D Driving Advanced Technology
– Circuit Board, Packaging & Finishing, Semiconductor
– Healthy Pipeline
– Advantage of Integration Knowledge
• Participate in Roadmap Development
– Drives Integration Knowledge and Close Partnerships
– Joint Development Alliances
– Determines Future Market Share % and Value
• Asia
– Talent and Infrastructure
– Further Our Position in Japan, Taiwan and Korea
– Growth in China

26. 26