CMT — Investor Presentation 2024

Mar 27, 2024

Stock Code：2612 TT

Q1 Investor Presentation

By: Ban-Jen Tarng Company Spokesperson 29[th] March 2024

Summar of Presentation y

 Capesize Market Outlook

• Dry Bulk Shipping Market Trends

 The Company Overview

• Appendices

==> picture [228 x 36] intentionally omitted <==

1

Mar/2024 Investor Presentation

Outlook

==> picture [610 x 327] intentionally omitted <==

==> picture [228 x 36] intentionally omitted <==

Ca esize Market Outlook p

Q1 Average Spot Rate Reached Highest Level Since 2010

• Cape 5TC averaged US$ 24,365 in Q1; PRC iron ore imports increased by 8% YoY during January and February while coal imports increased by 30% YoY during the same period

• Strong freight rates reflect higher Brazilian iron ore export, tighter tonnage supply in the Atlantic, and iron ore price averaging +$100/tonne

Iron Ore Prices Remain High and FFA Rates Improves

• Iron ore prices averaged at US$128/tonne in Q1; 2H 2024 FFA averages US$ 25,000

• Rising ship asset values reflect optimism over next few years

Global Fleet Net Growth Remains Relatively Low

• 14 new ships joined the global fleet so far in 2024, while 4 vintage ships were scrapped in first 3 months

• Capesize net fleet growth is about 0.54% in Q1

==> picture [176 x 110] intentionally omitted <==

==> picture [176 x 130] intentionally omitted <==

Short-term Outlook

• PRC iron ore and coal imports increase over same period last year but iron ore stockpile has increased to highest level in a year. Overall economy and real estate market is still under great stress but appetite for steel product remains strong

• The 3[rd] and 4[th] NBs will be delivered during Q2 2024 which will further enhance the Company’s overall performance; one ship is now trading in the spot market as part of the diverse chartering strategy

==> picture [176 x 125] intentionally omitted <==

==> picture [228 x 36] intentionally omitted <==

Mar/2024 Investor Presentation 3

Market Influencin Factors g

==> picture [621 x 382] intentionally omitted <==

----- Start of picture text -----

Bullish Factors Bearish Factors
Low NB Delivery Numbers High Iron Ore Stockpile in PRC
Stronger Commodity Exports PRC Economy and Real Estate
Higher Demand for Coal in Asia Volatile FFA Trading
Increase of Tonne-miles Vintage Tonnages Delay Exiting
----- End of picture text -----

==> picture [228 x 36] intentionally omitted <==

4

Mar/2024 Investor Presentation

PRC Ke Indicators y

• PRC’s gross domestic product in 2023 reached about 18 trillion U.S. Dollars or equivalent to growth of about 5.2% The full for 2024 is around 5.3% y-o-y. year target

• PRC’s crude steel production between January and February reached about 168 million tonnes, up by about 1.6% y-o-y; the country exported about 15 million tonnes of steel products between January and February, about 32.6%

• up by y-o-y

• Compared to end 2023, China Steel Price Index (CSPI) decreased by 1.18% at end-February to 111.57 points

• The country imported about 209 million tonnes of iron ore between and about 8.1% January February, up by y-

• o-y, while coal imports reached about 74 million tonnes, about 22.9%

• up by y-o-y

==> picture [228 x 36] intentionally omitted <==

==> picture [262 x 426] intentionally omitted <==

Mar/2024 Investor Presentation 5

Shi in Market Outlook - Demand pp g

==> picture [560 x 223] intentionally omitted <==

----- Start of picture text -----

Iron Ore Coal
----- End of picture text -----

Clarksons Platou forecasts Chinese iron ore imports to decrease by 1% in 2024 while Brazilian export volume is expected to increase by 2% and Australian export volume to increase by 1%; global iron ore demand is remain the same level in 2024

Clarksons Platou forecasts Chinese coal imports to decrease by 7% in 2024 while Australian export volume is expected to increase by 2% and Indonesian export volume to decrease by 4%; global coal demand is projected to reduce by 1% in 2024

==> picture [228 x 36] intentionally omitted <==

6

Mar/2024 Investor Presentation

Shi in Market Outlook - Su l pp g pp y

==> picture [266 x 223] intentionally omitted <==

----- Start of picture text -----

Newbuildings
----- End of picture text -----

==> picture [264 x 222] intentionally omitted <==

----- Start of picture text -----

Ship Scrapping
----- End of picture text -----

According to S&P Global, total 56 capesize bulkers were delivered in 2023 with fleet net growth at 2.4%; 42 capesize bulkers are expected to be delivered in 2024

Demolition quantity of capesize bulkers reached 9 in 2023 while more vintage - bulkers are to be recycled this year 15 units are expected to be scrapped in 2024

==> picture [228 x 36] intentionally omitted <==

Mar/2024 Investor Presentation

7

Dry Bulk Shipping Market Trends

==> picture [610 x 327] intentionally omitted <==

==> picture [228 x 36] intentionally omitted <==

BDI 2022-2024

Baltic Exchange Dry Index

==> picture [653 x 340] intentionally omitted <==

----- Start of picture text -----

BDI Avg.
Year 2022 1,934
5000
Year 2023 1,378
Jan - Mar 2024 1,823 23/May/2022
BDI: 3,369 4/Dec/2023
4000 BDI: 3,346
18/Mar/2024
BDI: 2,419
3000
17/Jan/2024 31/Aug/2022
BDI: 1,308 BDI: 965
2000
1000
16/Feb/2023
BDI: 530
0
Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
2022 BDI 2023 BDI 2024 BDI
----- End of picture text -----

Source: Clarksons Platou

==> picture [228 x 36] intentionally omitted <==

Mar/2024 Investor Presentation

9

BCI 2022-2024

Baltic Exchange Capesize Index

==> picture [673 x 345] intentionally omitted <==

----- Start of picture text -----

7000
5TC Avg. BCI Avg.
Year 2022 $16,177 1,951
4/Dec/2023
6000 Year 2023 $16,389 1,976 BCI: 6,582
Jan - Mar 2024 $24,365 2,938
23/May/2022
5000 BCI: 4,602
11/Mar/2024
BCI: 4,314
4000
17/Jan/2024
BCI:1,733
3000
2000
1000
31/Aug/2022
17/Feb/2023
BCI:302
BCI: 271
0
Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
2022 BCI 2023 BCI 2024 BCI
----- End of picture text -----

Source: Clarksons Platou

==> picture [228 x 36] intentionally omitted <==

Mar/2024 Investor Presentation 10

2022- 2024 BCI/BPI/BSI/BHSI Rates

==> picture [676 x 364] intentionally omitted <==

----- Start of picture text -----

Spot TCE (US$)
90,000
80,000
70,000
Capesize 5TC (180K)
60,000
2024/3/26 - $24,580
50,000
Kamsarmax 5TC (82K)
2024/3/26 - $18,392
40,000
30,000
Supra/Ultramax 10TC (58K)
2024/3/26 - $15,130
20,000
10,000
Handysize 7TC (38K)
2024/3/26 - $14,118
0
Jan-22 Apr-22 Jul-22 Oct-22 Jan-23 Apr-23 Jul-23 Oct-23 Jan-24
Capesize 5TC (180K) Kamsarmax 5TC (82K) Supra/Ultramax 10TC (58K) Handysize 7TC (38K)
----- End of picture text -----

Source: Clarksons Platou

==> picture [228 x 36] intentionally omitted <==

Mar/2024 Investor Presentation 11

Global Econom and Dr Bulk Trade y y

• IMF projects global GDP to grow by 3.1% in 2024

• Clarksons Platou forecasts dry bulk seaborne trade to increase by 1.2% in 2024

==> picture [619 x 285] intentionally omitted <==

----- Start of picture text -----

8
6.2
5.8 5.8
6 5.6
4.8
3.8 3.7
4 3.5 3.5 3.5 3.4 3.3 3.5 3.3 3.4
3.1 3.1
2.7 2.8
2 1.6
1.2
0.4 0.5
0
2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024(f)
-1.1
-2
-2.9
-3.1
-4
Global GDP Growth (%) Dry Bulk Trade Growth (%)
----- End of picture text -----

Source: IMF & Clarksons Platou

==> picture [228 x 36] intentionally omitted <==

Mar/2024 Investor Presentation 12

Dr Bulk Seaborne Trade Forecast y

-0.1% -0.5% 6.1% 0.1% 1.9% 4.5% 4.6% 2.7% -0.5% 2.6% 2.0% 2.1% -4.5% 2.1% 1.9% 6.7% 3.3% 1.2% Iron Ore 1,546 Coal 1,296 Bauxite 174 Capesize focus cargoes total 3,016 Grain 533 Forest Products 347 Steel Products 386 Fertilizer 192 Agribulks 189 Cement 119 Scrap 101 Petroleum Coke 96 Sugar 64 Salt 49 Nickel Ore 54 Manganese Ore 48 Others 372 2024(E) Total Dry Bulk 5,565 YoY Million Tonnes Cape Focus	-0.1% -0.5% 6.1% 0.1% 1.9% 4.5% 4.6% 2.7% -0.5% 2.6% 2.0% 2.1% -4.5% 2.1% 1.9% 6.7% 3.3% 1.2% Iron Ore 1,546 Coal 1,296 Bauxite 174 Capesize focus cargoes total 3,016 Grain 533 Forest Products 347 Steel Products 386 Fertilizer 192 Agribulks 189 Cement 119 Scrap 101 Petroleum Coke 96 Sugar 64 Salt 49 Nickel Ore 54 Manganese Ore 48 Others 372 2024(E) Total Dry Bulk 5,565 YoY Million Tonnes Cape Focus	-0.1% -0.5% 6.1% 0.1% 1.9% 4.5% 4.6% 2.7% -0.5% 2.6% 2.0% 2.1% -4.5% 2.1% 1.9% 6.7% 3.3% 1.2% Iron Ore 1,546 Coal 1,296 Bauxite 174 Capesize focus cargoes total 3,016 Grain 533 Forest Products 347 Steel Products 386 Fertilizer 192 Agribulks 189 Cement 119 Scrap 101 Petroleum Coke 96 Sugar 64 Salt 49 Nickel Ore 54 Manganese Ore 48 Others 372 2024(E) Total Dry Bulk 5,565 YoY Million Tonnes Cape Focus
	2024(E) Total Dry Bulk 5,565	1.2%

Source: Clarksons Platou

==> picture [228 x 36] intentionally omitted <==

Mar/2024 Investor Presentation 13

Dry Bulk Seaborne Trade vs. Fleet Growth

==> picture [608 x 364] intentionally omitted <==

----- Start of picture text -----

7.0%
6.0%
5.0%
4.0%
3.0%
2.0%
1.0%
0.0%
2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024(f)
-1.0%
-2.0%
-3.0%
-4.0%
Seaborne Trade Growth (YoY) Dry Bulk Fleet Growth (YoY)
----- End of picture text -----

Source: Clarksons Platou

==> picture [228 x 36] intentionally omitted <==

Mar/2024 Investor Presentation 14

Global Iron Ore Ex orts p

Clarksons Platou forecasts global iron ore exports remain the same level in 2024

Iron Ore

Million Tonnes

==> picture [493 x 288] intentionally omitted <==

----- Start of picture text -----

1600 1528 1547 1546
1478
1400
1200
1000 871 884 894 902
800
600
355 342 373 379
400
200
0
2021 2022 2023 2024(f)
Brazil Australia Total
----- End of picture text -----

Source: Clarksons Platou

==> picture [228 x 36] intentionally omitted <==

Mar/2024 Investor Presentation 15

Global Coal Ex orts p

Clarksons Platou forecasts global coal exports to reduce by 1% in 2024

Coal

Million Tonnes

==> picture [510 x 286] intentionally omitted <==

----- Start of picture text -----

1600
1400 1303 1295
1226 1228
1200
1000
800
600 517 498
465
432
366 339 353 359
400
200
0
2021 2022 2023 2024(f)
Australia Indonesia Total
----- End of picture text -----

Source: Clarksons Platou

==> picture [228 x 36] intentionally omitted <==

Mar/2024 Investor Presentation 16

Global Coal Prices

==> picture [699 x 303] intentionally omitted <==

Source: MacroMicro

==> picture [228 x 36] intentionally omitted <==

Mar/2024 Investor Presentation 17

Iron Ore Price Trend

==> picture [651 x 213] intentionally omitted <==

----- Start of picture text -----

240
220 May 2021
200 US$ 233.10/MT
180
160
140
120
100
80
60
40
December 2015
20 US$ 37.00/MT
62% FE CFR China, US$/MT
0
Jan-13 Jan-14 Jan-15 Jan-16 Jan-17 Jan-18 Jan-19 Jan-20 Jan-21 Jan-22 Jan-23 Jan-24
----- End of picture text -----

Source: MacroMicro

==> picture [228 x 36] intentionally omitted <==

Mar/2024 Investor Presentation 18

PRC Crude Steel Price

==> picture [616 x 336] intentionally omitted <==

----- Start of picture text -----

180 7500
160
6700
140
120
5900
100
80
5100
60
40
4300
20
0 3500
1-Jan-2022 1-Jun-2022 1-Nov-2022 1-Apr-2023 1-Sep-2023 1-Feb-2024
62% FE CFR China, US$/mt Hot Roll Steel Plate (SPHC), RMB/mt
62% FE CFR China, US$/mt
----- End of picture text -----

Source: MacroMicro

==> picture [228 x 36] intentionally omitted <==

Mar/2024 Investor Presentation 19

World Steel Production Trend

PRC’s y-o-y growth rate in 2023: +2.0%; Full year y-o-y projection for 2024: +2.0%

==> picture [625 x 336] intentionally omitted <==

Source: Drewry Maritime Research

==> picture [228 x 36] intentionally omitted <==

Mar/2024 Investor Presentation

20

PRC Commodit Seaborne Im orts y p

• PRC’s demand for iron ore is projected to decrease by 1% in 2024 to 1.147 billion tonnes

• PRC’s demand for coal imports is estimated to decrease by 7% in 2024 to 336 million tonnes

Iron Ore

==> picture [301 x 240] intentionally omitted <==

----- Start of picture text -----

Million Tonnes
1180 77%
1160 76%
1140
75%
1120
74%
1100
73%
1080
72%
1060
71%
1040
70%
1020
1000 69%
980 68%
2017 2018 2019 2020 2021 2022 2023 2024(f)
Chinese Iron Ore Import % of global imports
----- End of picture text -----

Coal

==> picture [300 x 232] intentionally omitted <==

----- Start of picture text -----

Million Tonnes
400 30%
350
25%
300 %
20%
250
200 15%
150
10%
100
5%
50
0 0%
2017 2018 2019 2020 2021 2022 2023 2024(f)
Chinese Coal Import % of global imports
----- End of picture text -----

Source: Clarksons Platou

==> picture [228 x 36] intentionally omitted <==

Mar/2024 Investor Presentation 21

PRC Iron Ore Im orts p

0 10 20 30 40 50 60 70 80 90 100 110 120 Million	Tonnes
	Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec 2022 2023 2024

Source: Clarksons Platou

==> picture [228 x 36] intentionally omitted <==

Mar/2024 Investor Presentation 22

Iron Ore Stock iles at PRC Ports p

==> picture [656 x 363] intentionally omitted <==

----- Start of picture text -----

165
152
139
126
113
100
Source: MacroMicro
Million tonnes
Jan 21 Mar 21 May 21 Jul 21 Sep 21 Nov 21 Jan 22 Mar 22 May 22 Jul 22 Sep 22 Nov 22 Jan 23 Mar 23 May 23 Jul 23 Sep 23 Nov 23 Jan 24 Mar 24
----- End of picture text -----

==> picture [228 x 36] intentionally omitted <==

Mar/2024 Investor Presentation 23

Newbuildin Orders are Limited g

Capesize Supply Development

Capesize Orderbook for delivery

m. DWT

==> picture [262 x 171] intentionally omitted <==

----- Start of picture text -----

No.
160
140
120
100
80
60 39
40 28 21
14 11
20
0
Delivered in Remaining 2025 2026 2027
Mar 2024 2024
----- End of picture text -----

==> picture [684 x 393] intentionally omitted <==

----- Start of picture text -----

160 30
3.76% 4.32%
140 25 3.91% 5.00%
20
120
15 1.79% 2.29% 3.00%
100
10
80 0.54%
5 1.00%
60 39 0
40 14 28 21 11 -5 -1.00%
20 -10
0 -15 -3.00%
Delivered in Remaining 2025 2026 2027 2019 2020 2021 2022 2023 Jan-Mar
Mar 2024 2024 2024
Scrapping New Deliveries Net Fleet Growth
MAR 2024
ORDERBOOK AS %
AVERAGE AGE OVER 15 YEARS OLD SCRAPPING AS %
OF EXISTING FLEET
OF EXISTING FLEET
Handysize
10% 13.3 26% 0.00%
(10,000 - 40,000 dwt)
Handymax (incl. Supramax & Ultramax)
9% 11.9 23% 0.00%
(40,000 - 65,000 dwt)
Panamax (incl, Kamsarmax)
12% 11.8 26% 0.00%
(65,000 - 100,000 dwt)
Capesize
6% 10.6 14% 0.00%
(100,000 + dwt)
Total Dry Bulk > 10,000 dwt
9% 12.1 20% 0.00%
Source: Clarksons Platou
CMT Fleet Average Age: 10.33
Mar/2024 Investor Presentation 24
----- End of picture text -----

Ca esize A e Profile p g

Capesize Age Profile (170,000 - 220,000 DWT)

==> picture [648 x 340] intentionally omitted <==

----- Start of picture text -----

No.
200
187
173
150 143
100 90
83
79
71 73 71
63
55 57
51 50 52
47
50 38 43
32
24 23
13 14
10
2 3
0
25 24 23 22 21 20 19 18 17 16 15 14 13 12 11 10 9 8 7 6 5 4 3 2 1 0 Years
Total Vessels: 1,547
----- End of picture text -----

Source: S&P Global

==> picture [228 x 36] intentionally omitted <==

Mar/2024 Investor Presentation 25

CII Regulation

It is expected that half bulkers will fall into CII - D&E rating in 2026

==> picture [665 x 299] intentionally omitted <==

Source: Clarksons Platou

==> picture [228 x 36] intentionally omitted <==

Mar/2024 Investor Presentation 26

Newbuildin /2[nd] Hand Sale Prices g

TYPE	TYPE	PRICE (IN US$ MILLION)	PRICE (IN US$ MILLION)	PRICE (IN US$ MILLION)	PRICE (IN US$ MILLION)	PRICE (IN US$ MILLION)
YEAR		2022	2023		Mar 2024
208,000 DWT	NB	67.0	74.0	10%	75.0	1%
180,000 DWT	NB	60.5	67.0	11%	68.0	1%
180,000 DWT (ECO)	5-YR	43.0	52.3	22%	62.0	19%
180,000 DWT	10-YR	28.0	31.0	11%	43.0	39%
176,000 DWT	15-YR	18.5	20.5	11%	29.0	41%

Source: Clarksons Platou & Internal Assessment

==> picture [228 x 36] intentionally omitted <==

Mar/2024 Investor Presentation 27

The Company Overview

==> picture [610 x 327] intentionally omitted <==

==> picture [228 x 36] intentionally omitted <==

Com an Profile p y

==> picture [163 x 157] intentionally omitted <==

==> picture [163 x 157] intentionally omitted <==

==> picture [163 x 157] intentionally omitted <==

==> picture [163 x 157] intentionally omitted <==

Shipping ：

CMT owns and manages a fleet of 12 capesize bulkers to offer dedicated services to customers for transportation of dry bulk commodities around the globe

Trucking ：

Associated Transport Inc. is one of Taiwan’s largest intermodal container trucking operators that provides container drayage and related services island-wide

Terminals ：

CMT Logistics Co., Ltd. operates two containers terminals in northern Taiwan with great access the country’s major ports to offer import/export express services to customers

Air & Tourism ：

CMT Air Cargo Department is the General Sales Agent (GSA) of Saudi Arabian Airlines in Taiwan

==> picture [228 x 36] intentionally omitted <==

Mar/2024 Investor Presentation

29

Entities Revenue Ratio for 2023

==> picture [647 x 370] intentionally omitted <==

----- Start of picture text -----

59%
Shipping
Trucking and
39%
Terminals
Agency and
2%
Travel
----- End of picture text -----

==> picture [228 x 36] intentionally omitted <==

Mar/2024 Investor Presentation 30

CMT Ca esize Fleet p

China Peace	China Peace	China Progress	China Progress	China Progress	China Pride	China Pride	China Pride	China Triumph	China Triumph	China Triumph	China Prosperity	China Prosperity	China Prosperity	China Pioneer	China Pioneer	China Pioneer	China Fortune	China Fortune
中華和平輪		中華富進輪			中華榮耀輪			中華光輝輪			中華鴻運輪			中華先鋒輪			中華偉運輪
174,413 DWT		174,322 DWT			177,856 DWT			203,028 DWT			203,028 DWT			206,079 DWT			206,061 DWT
2005		2006			2009			2011			2012			2012			2013
2024		2024			2023			2023			2017			2017			2016
Newbuilding 210,000 DWT		Newbuilding 210,000 DWT			China Champion 中華冠軍輪 210,183 DWT			China Venture 中華興業輪 210,269 DWT			China Honour 中華名望輪 179,562 DWT			China Enterprise 中華偉業輪 207,986 DWT			China Harmony 中華和諧輪 179,505 DWT

==> picture [228 x 36] intentionally omitted <==

Mar/2024 Investor Presentation 31

2019-2023 Financial Hi hli hts g g

Expressed in millions of New Taiwan Dollars

Year	2019	2020	2021	2022	2023
Revenue	3,763	3,132	3,554	4,410	4,015
Net Profit/(Loss)	324	320	1,031	758	324
EPS	1.64	1.67	5.27	3.88	1.66
Cash and cash equivalents	3,288	3,221	3,057	3,989	3,947
Total liabilities	10,022	9,735	8,650	8,799	11,764
Total equity	9,934	9,750	10,428	11,652	11,649
ROE %	3.2%	3.3%	10.3%	6.87%	2.78%
ROA %	2.5%	2.3%	5.8%	4.45%	2.82%
Liability %	50%	50%	45%	43%	51%

==> picture [228 x 36] intentionally omitted <==

Mar/2024 Investor Presentation 32

Dividends Distribution

==> picture [657 x 350] intentionally omitted <==

----- Start of picture text -----

Year 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023

Cash dividends/ Capital
1.30 2.50 0.50 0.50 1.60 0.80 1.60 2.68 2.18 1.00
Reduction (NT$)
EPS (NT$) 1.30 1.30 0.21 0.50 2.60 1.64 1.67 5.27 3.88 1.66
3.50 238% 250%
3.00 192%
200%
2.50 2.68

2.30
150%
2.00
2.18
100%
1.50 100% 1.60
1.60 100%
96%
1.00 1.30 60%
56%
62% 1.00 50%
51%
0.80
0.50 49%
0.50 0.50
0.20
0.00 0%
2014 2015 2016 2017 2018 2019 2020 2021 2022 2023
Cash Dividend Capital Reduction Dividend Payout Ratio
----- End of picture text -----

*Cash dividend NT$ 0.20 plus capital reduction NT$2.30 = NT$2.50

==> picture [228 x 36] intentionally omitted <==

Mar/2024 Investor Presentation 33

Appendix 1：Condensed Balance Sheet

	Expressed in millions of New Taiwan Dollars	Expressed in millions of New Taiwan Dollars
Assets	Dec 31, 2023	Dec 31, 2022
Current assets	5,279	4,974
Property, plant and equipment	15,963	13,875
Intangible assets	4	5
Other non current assets	2,168	1,597
Total assets	23,414	20,451
Liabilities and Equity
Current liabilities	4,283	3,290
Non Current liabilities	7,481	5,509
Total liabilities	11,764	8,799
Equity attributable to owners of parent
Common stock	1,975	1,975
Capital surplus	53	53
Retained earnings	9,464	9,568
Other equityinterest	93	47
Non-controllinginterests	65	9
Total equity	11,650	11,652
Total liabilities and equity	23,414 20,451

==> picture [228 x 36] intentionally omitted <==

Mar/2024 Investor Presentation 34

： Appendix 2 Condensed Statement of Comprehensive Income

	Expressed in thousands of New Taiwan Dollars	Expressed in thousands of New Taiwan Dollars
	2023	2022
Operating Revenues	4,014,892	4,409,999
Operating costs	3,157,517	3,024,721
Gross profit	857,375	1,385,278
Operating expenses	483,101	456,075
Net operating income	374,274	929,203
Non operating income and expenses	58,289	(88,010)
Profit before tax	432,563	841,193
Less: tax expenses	108,695	83,222
Profit	323,868	757,971
Other comprehensive income, net	44,381	994,840
Comprehensive income	368,249	1,752,811
Earnings per share	1.66 3.88

==> picture [228 x 36] intentionally omitted <==

Mar/2024 Investor Presentation 35

： Appendix 3 Corporate Bonds Issuance

Tranche	2020-the first secured -A	2020-the first secured -B	2020-the first secured -C	2020-the first secured -D
Amount (NT$ 100M)	10	5	5	5
Tenor	5 Years	5 Years	5 Years	5 Years
Due Date	28-Aug-2025	28-Aug-2025	28-Aug-2025	28-Aug-2025
Interest Rate	0.64%	0.64%	0.66%	0.66%
Interest Payment	Annually	Annually	Annually	Annually
Guarantee Bank	Mega Bank	Shanghai Commercial Bank	Mega Bank	Shanghai Commercial Bank

==> picture [228 x 36] intentionally omitted <==

Mar/2024 Investor Presentation 36

Disclaimer

The information and opinions in this report were prepared by CMT. Though the information herein is believed to be reliable and has been obtained from market sources believed to be reliable, CMT makes no representation as to its accuracy or completeness.

The material and the information contained herein are provided for general information purposes, and may not be reproduced without the written permission of CMT. CMT shall not be liable to the recipient or any third party for any loss, liability or damage, cost or expense including without limitation, direct, indirect, consequential loss or damage, any loss of profit, loss of use, loss of or interruption in business, loss of goodwill, loss of data arising out of, or in connection with, the use of and the reliance on the information whether in contract, tort, negligence, bailment, breach of statutory duty or otherwise, even if foreseeable. This disclaimer shall be governed by and construed in accordance with Laws of Taiwan, R.O.C.

We undertake no obligation to publicly update or revise any forward looking statement contained in this presentation, whether as a result of new information, future events or otherwise, except as required by law. In light of the risks, uncertainties and assumptions, the forward looking events discussed in this presentation might not occur, and our actual results could differ materially from those anticipated in these forward-looking statements.

Contact Information

Web Site: www.cmt.tw

Head Office:

15 Jinan Road Sect 1 Taipei Taiwan R.O.C. Tel:+886(0)2 2396 3282 Fax:+886(0)2 2391 6165

Investor Relations:

Spokesperson: BJ Tarng, Vice President Tel: +886(0)2 2397 6670 Fax: +886(0)2 2356 8085 Email: inv.rel@agcmt.com.tw

==> picture [299 x 201] intentionally omitted <==

==> picture [228 x 36] intentionally omitted <==

Mar/2024 Investor Presentation 37

Thank You!

==> picture [630 x 275] intentionally omitted <==

==> picture [300 x 125] intentionally omitted <==