DELTA - AGM Information 2025 | FinancialReports.eu

Delta Electronics, Inc. (“Company”) Minutes of 2025 Annual General Shareholders’ Meeting

(Translation)

Time: 10:00 AM, May 29, 2025

Place: Auditorium, 8F., No.16, Tungyuan Road, Chungli District, Taoyuan City

Quorum: 2,349,369,950 shares were represented by the shareholders and proxies present, which amounted to 90.44% of the Company’s 2,597,543,329 issued and outstanding shares.

Board Members Present: Ping Cheng, Mark Ko, Bruce CH Cheng, Yancey Hai, Simon Chang, Shan-

Shan Guo, Audrey Tseng (Independent Director), Shyue-Ching Lu (Independent Director), and Jack J. T. Huang (Independent Director). 9 members of the Board of Directors (including 3 Independent Directors) were present.

Attending members of the Audit and Risk Committee: Audrey Tseng, Shyue-Ching Lu and Jack J.

T. Huang

Attending members of the Compensation Committee: Audrey Tseng, Shyue-Ching Lu and Jack J. T. Huang

Attending members of the Global ESG Committee: Ping Cheng, Mark Ko, Yancey Hai, Simon Chang, Shan-Shan Guo

Attendance: CPA, Ms. Hsiao, Chun-Yuan, PricewaterhouseCoopers, Taiwan, Director, Mr. Roger Wang, PricewaterhouseCoopers, Taiwan, Lee and Li, Attorneys-at-Law, Mr. James Chen, Corporate CFO, Mr. Beau Yu, Chief Legal Officer, Mr. Karl Yeh and Chief Sustainability Officer, Mr. Jesse Chou

Chairman: Ping Cheng, Chairman of the Board of Directors

Recorder: Yichun Chen

Commencement: (The aggregate shareholding of the shareholders and proxies present constituted a quorum. The Chairman called the meeting to order.)

Salute according to the etiquette

Chairman’s speech: (omitted)

1. Report Items

(1) The Company’s 2024 Operation Results (Please see Appendix 1)
(2) The Company’s 2024 Financial Results (Please see Appendix 2 and 3)
(3) The Company’s Audit and Risk Committee’s Review Opinions on 2024 Annual Final Accounting Books and Statements (Please see Appendix 4)
(4) The Company’s Report on 2024 Employees’ and Directors’ Compensation The Company’s annual profit in 2024 is NT$42,921,510,948, of which 7.8% is allocated as the employees’ compensation in cash totaling NT$3,346,714,857 and 0.41% is allocated as the directors’ compensation in cash totaling NT$177,542,178.
(5) The Company’s Report on Issuance of Domestic Unsecured Ordinary Corporate Bond In order to replenish working capital, repay debt and/or support capital expenditures related to business expansion and other medium and long-term funding needs, the Board of Directors of the Company approved the issuance of domestic unsecured ordinary corporate bond and/or sustainable bond on February 29, 2024 and February 26, 2025 respectively. Each aggregate amount does not exceed NT$30 billion, which may be issued once or in installments within one year from the date of the resolution of the Board of Directors. There is no issuance till the book closure date of the Annual General Shareholders’ Meeting.

There is no question to report items raised by the shareholders.

2. Proposal Items

(1) Adoption of the Company’s 2024 Annual Business Report and Financial Statements (Proposed by the Board of Directors)

Explanation:

a) This Company’s 2024 Annual Business Report and Financial Statements including the Parent Company Only Financial Statements and Consolidated Financial Statements (please refer to Appendix 1~3) were resolved by the Board and Directors and reviewed by the Company’s Audit and Risk Committee, of which the Parent Company Only Financial Statements and the Consolidated Financial Statements were audited by CPA, Hsiao, Chun-Yuan and CPA, Hsu, Sheng-Chung from PricewaterhouseCoopers, Taiwan. The Company’s Audit and Risk Committee found no discrepancies after a thorough review and has made written review opinions.
b) It is proposed by the Board of Directors to submit the 2024 Annual Business Report and Financial Reports to this Annual General Shareholders’ Meeting for adoption.

Resolution:

There is no question raised by the shareholders. Approved and acknowledged as proposed by the Board of Directors by voting. A total of 2,349,369,950 shares with voting rights were present when votes were cast; the number of voting rights for approval is 2,175,726,941, among which 1,455,653,691 was exercised by electronic transmission; the number of voting rights for rejection is 1,590,486, among which 1,590,486 was exercised by electronic transmission; the number of invalid votes is 0, the number of voting rights for abstention is 172,052,523, among which 172,045,250 was exercised by electronic transmission and 92.60% of the total voting rights voted for approval when votes were cast.

(2) Adoption of the Company’s 2024 Earnings Distribution
(Proposed by the Board of Directors)

Explanation:

a) The 2024 Earnings Distribution Table was prepared as follows in accordance with the “Company Act” and the “Articles of Incorporation. It was resolved by the Board of Directors and reviewed by the Company’s Audit and Risk Committee. The Audit and Risk Committee found no discrepancies after a thorough review and has made written review opinions
b) The Board of Directors proposed to set aside NT$18,182,803,303 for 2024 cash dividend. According to the number of shares issued and entitled to distribution totaling 2,597,543,329, the cash dividend of NT$7.00 per share will be distributed. The Board of Directors authorized the Chairman subject to the approval of Annual General Shareholders’ Meeting to set an ex-dividend record date on which the proposed cash dividend would be distributed according to the shareholding ratio of shareholders appeared in the register of shareholders on the designated record date. In the event that the proposed payout ratio is affected by an amendment to relevant laws or regulations, a request by the competent authorities, or a change in common shares (such as, buyback of shares for transfer or cancellation, domestic capital increase by cash, and exercise of employee stock options), the Chairman was authorized to adjust the ratio accordingly.
c) It is proposed by the Board of Directors to submit the 2024 Earnings Distribution to this Annual General Shareholders’ Meeting for adoption.

Delta Electronics, Inc. 2024 Earnings Distribution Table

2024 Earnings Distribution	Table
		Unit: NT$
Item	Description	Amount
Net profit after tax for the year 2024		35,228,577,446
Subtract: Setting aside 10% legal reserve		3,562,287,943
Add: Reversal of special reserve		3,468,181,221
Earnings available for distribution by the end of 2024		35,134,470,724
Add: Retained earnings in the beginning of 2024		62,809,907,011
Profit on disposal of financial assets at fair value through		1,059,176
other comprehensive income in 2024
Actuarial profit on defined benefit plan in 2024		393,242,812
Earnings available for distribution by the end of the fiscal year		98,338,679,723
(Note 1)
Distribution Items:
Shareholders’ dividend - Cash	NT$7.00 per share	18,182,803,303
Undistributed earnings by the end of 2024		80,155,876,420
(Note 1) The principle of 2024 earnings distribution: earnings available for distribution by the end of the
fiscal year shall be distributed first.
(Note 2) Cash dividends distributed are rounded up to NT$1. The total amount of fractional cash
dividends less than NT$1 shall be reversed to undistributed earnings.

Chairman: Ping Cheng President: Simon Chang Chief Accounting Officer: Beau Yu

Resolution:

There is no question raised by the shareholders. Approved and acknowledged as proposed by the Board of Directors by voting. A total of 2,349,369,950 shares with voting rights were present when votes were cast; the number of voting rights for approval is 2,179,084,731, among which 1,459,011,481 was exercised by electronic transmission; the number of voting rights for rejection is 131,661, among which 131,661 was exercised by electronic transmission; the number of invalid votes is 0, the number of voting rights for abstention is 170,153,558, among which 170,146,285 was exercised by electronic transmission and 92.75% of the total voting rights voted for approval when votes were cast.

3. Discussion Items

(1) Discussion of the Amendments to the Company’s “Articles of Incorporation” (Proposed by the Board of Directors)

Explanation:

a) In response to the amendment on Article 14, Paragraph 6 of the “Securities and Exchange Act” promulgated by the Financial Supervisory Commission and the FSC Directions No. 1130385442, it is proposed to amend certain provisions of the “Articles of Incorporation.” Please see the comparison table of revised articles of the “Articles of Incorporation” for the detailed revisions.
b) The proposed amendments are submitted for discussion.

Comparison Table of Revised Articles of the Articles of Incorporation

Article	Article after revision	Article before revision	Explanation
Article 30	If the Company makes profits for the current year, the Board of Directors shall resolve on the allocation of at least 3% as the employee compensation and no more than 1% as the compensation for directors. If the Company has cumulative losses, the amount equivalent to such losses shall be reserved prior to the allocation and reported in the shareholders’ meeting. Qualification requirements of employees, including the employees of subsidiaries of the company meeting certain specific requirements, entitled to receive the abovementioned compensation, may be specified by the authorized Board of Directors or the person authorized by the Board of Directors. The employee compensation mentioned in the preceding Paragraph includes no less than 4% for non- executive employees. As referred to the“Regulations for Tax Preferences Provided to Small and Medium Enterprise on Wage Payment Raising”, the definition for the range of non-executive employees mentioned above is the personnel whose salary is lower than non-executive employees. (The rest is omitted)	If the Company makes profits for the current year, the Board of Directors shall resolve on the allocation of at least 3% as the employee compensation and no more than 1% as the compensation for directors. If the Company has cumulative losses, the amount equivalent to such losses shall be reserved prior to the allocation and reported in the shareholders’ meeting. Qualification requirements of employees, including the employees of subsidiaries of the company meeting certain specific requirements, entitled to receive the abovementioned compensation, may be specified by the authorized Board of Directors or the person authorized by the Board of Directors. (The rest is omitted)	In response to the amended Article 14, Paragraph 6 of the “Securities and Exchange Act”, the second and the third paragraphs of this article are added, and the original second and the third paragraphs are moved to the fourth and the fifth paragraphs.
Article 33	These Articles of Incorporation were enacted on July28,1975; (the 1st	These Articles of Incorporation were enacted on July28,1975; (the 1st	Addition of the 54th revision

Article		Article after revision	Article before revision	Explanation
		through 52ndrevision dates have been omitted for simplicity) The fifty-third amendment was made on May 30, 2024; The fifty-fourth amendment was made on May 29, 2025.	through 52ndrevision dates have been omitted for simplicity) The fifty-third amendment was made on May 30, 2024.	date.

Resolution:

There is no question raised by the shareholders. Approved and acknowledged as proposed by the Board of Directors by voting. A total of 2,349,369,950 shares with voting rights were present when votes were cast; the number of voting rights for approval is 2,155,704,550, among which 1,435,631,300 was exercised by electronic transmission; the number of voting rights for rejection is 2,055,102, among which 2,055,102 was exercised by electronic transmission; the number of invalid votes is 0, the number of voting rights for abstention is 191,610,298, among which 191,603,025 was exercised by electronic transmission and 91.75% of the total voting rights voted for approval when votes were cast.

(2) Discussion of the Release from Non-competition Restrictions on the Company’s Directors (Proposed by the Board of Directors)

Explanation:

a) According to Article 209 of the “Company Act”, a director who conducts business within the business scope of the Company for himself or others shall explain at the shareholders’ meeting the essential contents of such conduct and obtain the shareholders’ approval.
b) As certain directors concurrently work for other companies, which may constitute the act restricted under Article 209 of the “Company Act”, it is proposed to release the noncompetition restrictions on the directors, without prejudice to the interests of the Company.
c) The proposal is submitted for discussion.

Description of Positions of Directors in Other Companies (Newly added)

Title	Name	Positions in	Other Companies	Business Activity	Whether it is a subsidiary or a related party of the Company
Independent Director	Audrey Tseng	St.Shine Optical Co., Ltd.	Director	Manufacturing and trading of contact lenses (soft and hard), optical lenses and its related products	No
Independent Director	Jack J. T. Huang	Taiwan Consulting Group	Chairman	Management Consulting Services	No
Independent Director	Rose Tsou	Giant Manufacturing Co. Ltd.	Independent Director, Audit Committee member, Compensation Committee member	Manufacturing and selling bicycles, electric bicycles and related parts	No

Title	Name	Positions in Other Companies	Positions in Other Companies	Business Activity	Whether it is a subsidiary or a related partyof the Company
Independent Director	Doris Hsu	GlobalWafers Capital Co., Ltd.	Chairman	Investment activities	No

Resolution:

rights for rejection is 5,624,288, among which 5,624,288 was exercised by electronic transmission; the number of invalid votes is 0, the number of voting rights for abstention is 370,322,124, among which 370,314,851 was exercised by electronic transmission and 83.99% of the total voting rights voted for approval when votes were cast.

4. Extemporary Motions:

Shareholder (account number: 45390) raised the comments:

(1) Regarding the implementation of the retirement scheme, please advise why the Company is unable to accept the application for the early settlement of the labor retirement reserve fund (the defined benefit plan) through mutual agreement?

Chairman responded: The Company handles all matters in accordance with the applicable regulations, and a responsible officer will contact the shareholder after the meeting.

(2) What is the outcome regarding the legal action initiated by the Company against the former employee, Mr. Huang, in December 2024?

Chairman responded: The case is currently under investigation.

(3) Although the Company demonstrated excellent performance in terms of revenue and profitability during the Q1 2025 investor meeting, please advise the reasons for the streamlining of headcount in business units?

Chairman responded: Although the Company has overall growth in both revenue and profitability in 2025, the performance differs among the business units. Organizational adjustments will be made based on the revenue performance and business development of each unit. In cases where the streamlining of headcount is necessary within a unit, the Company will coordinate internal transfers, etc.

Shareholder (account number: 220812) raised the comment: What is the percentage of the

Company’s revenue derived from sustainable economic activities, and whether there are any plans to disclose relevant economic activities in accordance with the “Reference Guidelines for Recognition of Sustainable Economic Activities”?

Chairman responded: In 2024, 32.4% of the Company’s revenue was generated from sustainable economic activities. The Company will disclose relevant information in accordance with applicable regulations in the future.

Meeting Adjourn: 10:33 AM, May 29, 2025

Chairman: Ping Cheng

Recorder: Yichun Chen

Appendix 1 Business Report

Business Overview

Despite signs of moderate recovery in 2024, global economic performance remained notably divided. While the data center market related to artificial intelligence (AI) continued to experience rapid growth, many other application markets appeared relatively sluggish. Against this backdrop, Taiwan’s economic performance stood out among developed economies, largely driven by the surge in AI applications, fueling strong demand for information and communications technology (ICT) equipment and electronic components. This, in turn, provided significant momentum for the growth of both Taiwan’s economy and its electronics manufacturing sector.

In 2024, Delta’s consolidated revenue was NT$421.1 billion, a 5% increase from the previous year; gross profit was NT$136.6 billion with a gross profit margin of 32.4%; net operating profit was NT$47.7 billion with a net profit margin of 11.3%; net income after tax was NT$35.2 billion with a net after-tax profit margin of 8.4%; EPS was NT$13.56 and return on equity (ROE) ratio was 16.4%. Both annual revenue and EPS have grown. Here is a summary of the performance and status of Delta’s core business categories in 2024.

Power Electronics

With over a half century of expertise in power electronics technology, Delta has consistently maintained our leadership in power management and thermal solutions. In recent years, global semiconductor giants have introduced high-performance chips designed to support AI applications, resulting in a substantial increase in demand for power supplies. Concurrently, the requirements for critical power specifications, including power instantaneous, power density, and energy efficiency, have continued to increase.

Leveraging our expertise in key technologies, Delta remained at the forefront of the industry, consistently leading the market with the introduction of significant new products in the fields of power solutions for data center and server, as well as power conversion for GPUs. In the field of power supplies for data center racks, Delta’s latest power shelves, compliant with the Open Rack v3 (ORV3) standard of the Open Compute Project, deliver a power output of 33 kW (21-inch 1OU). This represents an over 83% increase in power output compared to the 18-kW model introduced in 2023, with energy efficiency reaching up to 97.5%. Additionally, Delta has taken the lead in the industry by downsizing the 33kW, 21inch power shelves to a 19-inch (1RU) specification, enabling AI transformation or upgrades for existing data center servers. In response to the significant load that AI servers place on power grids when processing large volumes of high-speed data, which could potentially lead to server overloads and power outages, we have introduced our brand new 19-inch (1RUs) and 21-inch (1OU, ORV3-compliant) highpower Peak Load Shaving Shelf (PLSS). These devices, equipped with built-in lithium-ion capacitors, provide surge rectification and filtration, along with backup power (delivering 20 kW power output for 15 seconds), stabilizing power delivery to AI servers and ensuring efficient and reliable operations. Additionally, Delta introduced an 8kW DC power distribution board designed for effective DC voltage conversion at the AI chip board. This board features two 4kW DC power modules that convert power from a 50V input down to 12V, supplying energy to two GB200 super chips within the server. This system delivers a total output power of 14.4 kW while achieving an energy conversion efficiency of 98.2%.

In the field of data center thermal management, Delta has expanded our product portfolio to

include both air and liquid cooling technologies, offering flexible solutions that address the infrastructure needs of both newly constructed and existing data centers. In response to the growing demands for thermal solutions driven by the increase in AI applications, Delta has introduced a liquid-cooled Cold Plate Loop specifically designed for the latest generation of AI GPUs and CPUs. This module features an advanced microchannel cold plate design and technology that balances liquid flow, ensuring exceptional thermal performance and efficient system operation, complemented by the high-performance Coolant Distribution Unit (CDU), a core component that further enhances the overall efficiency of the liquid-cooled rack. Delta’s liquid cooling solutions have received approval from leading global cloud service providers (CSPs) and original design manufacturers (ODMs) and have entered the production phase. As demand for AI servers and racks continues to rise, these products are expected to gradually scale up in shipment volumes.

In the field of passive components, Delta’s Board of Directors approved an investment of US$ 68.5 million in January 2025 to acquire the power inductors and powder materials business from the Japan-listed Alps Alpine Co., Ltd. and its subsidiary Alps Electric Korea Co., Ltd. This acquisition includes production and R&D equipment, along with relevant patents and intellectual property assets, which we plan to integrate with the magnetic component technologies developed by our subsidiary, Cyntec Co., Ltd. This integration will achieve synergies in both technology and market reach. Alps Alpine’s proprietary powder material patent technology enables the development of low-power-loss power inductors that improve the energy efficiency of devices and equipment. We anticipate this acquisition will further strengthen Delta’s position in the application of passive components across various sectors, including data centers, AI high-performance computing, edge computing, electric vehicles, smartphones, and nextgeneration information and communication products.

Automation

In the field of industrial automation, Delta has introduced the Digital Twin solution, which enables both the pre-testing of equipment specifications and production line planning during the phase of new product introduction, ensuring seamless integration between the virtual and physical worlds. This solution will be applied throughout the entire product lifecycle, from design and equipment commissioning to mass production. Additionally, our virtual machine development platform DIATwin creates virtual models of product processes by automatically generating and optimizing production parameters through AI computing, thereby reducing the time required for new product trials by up to 50%. When paired with modularly designed physical equipment, this solution successfully contributed to a leading electronics assembly manufacturer in Taiwan reducing their setup time by over 80% and accelerating the mass production timeline for new products. Furthermore, integrating our Line Manager software into the production process achieves real-time management of the entire production line, improving production capacity by 3 to 4 times and reducing material waste, thus achieving energy savings and carbon reduction.

The newly constructed Chungli Plant 6 will serve as Delta’s Smart Manufacturing Innovation Center. In addition to offering both virtual and physical training programs, this center leverages IoT technology to transmit equipment data, automatically generate optimized processing paths, and simulate them on a virtual platform. This enables customers to familiarize themselves with equipment operations and plan for full-line integration, thereby accelerating their transition toward the factory of the future.

Delta has actively advanced our building automation business for many years. Our solutions have been successfully implemented in commercial buildings and progressively expanded into more complex

campus environments. In 2024, Delta implemented a smart campus solution for the Taiwan International Ports Corporation, Ltd., Taichung Branch at Taichung Port. This solution integrates systems such as central monitoring, security surveillance, smart lighting, and smart energy management into a unified management platform, enabling real-time monitoring and management for the port’s diverse facilities and equipment. This enhances operational efficiency while ensuring the security of the port area. The smart energy management platform integrates data on electricity, water usage, and renewable energy, visualizing carbon emissions and overall energy consumption metrics. The solution is built with a highly scalable system architecture, designed to support future integration with EV charging and energy storage systems, driving Taichung Port toward its goal of becoming a smart harbor and realizing its vision of a low-carbon, sustainable future.

Infrastructure

In the field of ICT infrastructure and in response to the rapidly growing demand for data center construction, Delta leverages its extensive power planning expertise and comprehensive product portfolio to develop highly efficient supply systems with flexible power, covering medium-voltage utility power supply to server-level requirements. These systems effectively enable customers to reduce both operational costs and time. To address the thermal challenges posed by AI computing, we have also introduced integrated solutions that combine both air and liquid cooling technologies. These include the Liquid to Air Systems, which can upgrade existing air-cooled data centers, and the 1.5MW Liquid to Liquid Coolant Distribution Unit (CDU), which is capable of managing the thermal demands of dozens of high-density racks exceeding 100 kW, and ensuring stable operations in complex and dynamic application environments.

In the field of energy infrastructure, Delta has not only partnered with McDonald’s France to install 200kW supercharger stations in over 700 restaurants, addressing consumers’ needs for immediate charging, but has also responded to the growth of the electric vehicle market by launching the 500 kW ultra-fast charger, the UFC 500, allowing us to be compliant with European standards. Additionally, Delta has been actively involved in renewable energy and grid integration, providing 3,500 Delta M125HV solar inverters to MOVE ON Energy GmbH. These inverters have been successfully deployed at Europe’s largest solar power plant, generating sufficient green electricity to power 200,000 households annually, thereby contributing significantly to climate change mitigation.

Mobility

Despite the continued growth of the global electric vehicle market in 2024, the growth rate outside of China has slowed compared to the previous two years. Notably, the regional rollout of electric vehicles charging infrastructure has lagged behind market development, resulting in diversified market demand. Consequently, major automakers are revising their strategies over the next five years, shifting focus from solely battery electric vehicles (BEVs) to a dual approach that incorporates both BEVs and plug-in hybrid electric vehicles (PHEVs). Some automakers are even prioritizing the development of PHEVs to better respond to evolving market dynamics and challenges.

Delta is currently collaborating with several major automakers to develop power systems products for PHEVs, aiming to help them accelerate the release of the vehicles to the market. Concurrently, the integration of electric vehicle drive systems (X-in-1) is emerging as a significant industry trend. Delta has been entrusted by the top three German automakers to develop next-generation integrated systems, some of which have already deployed in vehicles available in the European market. These solutions are expected to be progressively introduced globally over the next few years, becoming a significant revenue

source for Delta’s Mobility Business category.

Future Development Strategy of the Company

Delta’s long-term strategic core remains committed to offering more innovative solutions and continuously enhancing our brand value. Thanks to our continued investment in R&D and a global business approach, Delta was selected as one of the Best Taiwan Global Brands for the 14th consecutive year. In 2024, the Company’s brand value reached US$ 593 million, marking a 9% increase from the previous year. However, considering the Company’s wide range of products, spanning single components to comprehensive solutions with varying price points, sales volume alone is not the most effective metric for gauging operating performance. Nevertheless, we expect an increase in overall sales volume for the current year compared to the previous year.

We sincerely thank our shareholders, customers, employees, and partners for their long-term trust and support. Looking to the future, Delta remains committed to advancing R&D, fostering innovative thinking, and constantly optimizing and expanding our product portfolio to provide solutions that balance environmental sustainability with performance, making a more profound contribution to global sustainable development.

Chairman Ping Cheng President Simon Chang Chief Accounting Officer Beau Yu

Appendix 2 INDEPENDENT AUDITORS’ REPORT

To the Board of Directors and Shareholders of Delta Electronics, Inc.

Opinion

We have audited the accompanying parent company only balance sheets of Delta Electronics, Inc. (the “Company”) as at December 31, 2024 and 2023, and the related parent company only statements of comprehensive income, of changes in equity and of cash flows for the years then ended, and notes to the parent company only financial statements, including a summary of material accounting policies.

In our opinion, based on our audits and the reports of other auditors (refer to the Other matter section), the accompanying parent company only financial statements present fairly, in all material respects, the financial position of the Company as at December 31, 2024 and 2023, and its financial performance and its cash flows for the years then ended in accordance with the Regulations Governing the Preparation of Financial Reports by Securities Issuers.

Basis for opinion

We conducted our audits in accordance with the Regulations Governing Financial Statement Audit and Attestation Engagements of Certified Public Accountants and Standards on Auditing of the Republic of China. Our responsibilities under those standards are further described in the Auditors’ responsibilities for the audit of the parent company only financial statements section of our report. We are independent of the Company in accordance with the Norm of Professional Ethics for Certified Public Accountant of the Republic of China, and we have fulfilled our other ethical responsibilities in accordance with these requirements. Based on our audits and the audit reports of other auditors, we believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Key audit matters

Key audit matters are those matters that, in our professional judgment, were of most significance in our audit of the Company’s 2024 parent company only financial statements. These matters were addressed in the context of our audit of the parent company only financial statements as a whole and, in

forming our opinion thereon, we do not provide a separate opinion on these matters.

Key audit matter for the Company’s 2024 parent company only financial statements is stated as follows:

Intangible assets (including subsidiaries) - Impairment assessment of goodwill

Refer to Note 4(20) for the accounting policies on impairment of non-financial assets, and Notes 5(2) and 6(10) for the impairment assessment of goodwill including critical accounting estimates.

As at December 31, 2024, the balance of goodwill arising from the acquisitions by the Company and its subsidiaries is material, and the recoverable amount of goodwill, measured using the value-inuse method, amounted to NT$20,967,053 thousand. As the balance of goodwill is material, and the impairment assessment of goodwill is complex, has a high level of estimation uncertainty, and involves various assumptions which relies on management’s subjective judgment, the assessment of goodwill impairment has been identified as a key audit matter.

How our audit addressed the matter

We performed the following procedures for the above key audit matter:

A. Understood the process of goodwill impairment assessment, obtained the assessment form provided by management, and assessed whether the valuation models adopted by management are reasonable for the industry, environment, and the valued assets of the Company.
B. Assessed the reasonableness of material assumptions, such as future cash flows, expected growth rates, operating margin, and discount rates, by:
(a) Checking the setting of parameters of valuation models and calculation formulas;
(b) Confirming whether the expected future cash flows are in agreement with the budget provided by the business units;
(c) Comparing the expected growth rate and operating margin with historical data, economic and industrial forecast documents; and
(d) Comparing the discount rate with cost of capital assumptions of cash generating units and rates of return of similar assets.

`–` Other matter Reference to the audits of other auditors

We did not audit the financial statements of certain investments accounted for under the equity method and information on investees disclosed in Note 13. Therefore, our opinion expressed herein, insofar as it relates to the amounts included in respect of these associates, is based solely on the reports of the other auditors. The balance of these investments accounted for under the equity method amounted to NT$49,145,952 thousand and NT$38,977,447 thousand, constituting 13.73% and 12.50% of total assets as at December 31, 2024 and 2023, respectively, and the comprehensive income recognised from associates and joint ventures accounted for under the equity method amounted to NT$10,737,793 thousand and NT$10,683,648 thousand, constituting 22.77% and 32.96% of the total comprehensive income for the years then ended, respectively.

Responsibilities of management and those charged with governance for the parent company only financial statements

Management is responsible for the preparation and fair presentation of the parent company only financial statements in accordance with the Regulations Governing the Preparation of Financial Reports by Securities Issuers, and for such internal control as management determines is necessary to enable the preparation of the parent company only financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the parent company only financial statements, management is responsible for assessing the Company’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless management either intends to liquidate the Company or to cease operations, or has no realistic alternative but to do so.

Those charged with governance, including the audit committee, are responsible for overseeing the Company’s financial reporting process.

Auditors’ responsibilities for the audit of the parent company only financial statements

Our objectives are to obtain reasonable assurance about whether the parent company only financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditors’ report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with the Standards on Auditing of the Republic of China will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these parent company only financial statements.

As part of an audit in accordance with the Standards on Auditing of the Republic of China, we exercise professional judgment and professional skepticism throughout the audit. We also:

Identify and assess the risks of material misstatement of the parent company only financial statements, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control;
Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the Company’s internal control;
Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by management;
Conclude on the appropriateness of management’s use of the going concern basis of accounting and, based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the Company’s ability to continue as a going concern. If we conclude that a material uncertainty exists, we are required to draw attention in our auditors’ report to the related disclosures in the parent company only financial statements or, if such

disclosures are inadequate, to modify our opinion. Our conclusions are based on the audit evidence obtained up to the date of our auditors’ report. However, future events or conditions may cause the Company to cease to continue as a going concern;

Evaluate the overall presentation, structure and content of the parent company only financial statements, including the disclosures, and whether the parent company only financial statements represent the underlying transactions and events in a manner that achieves fair presentation.
Obtain sufficient appropriate audit evidence regarding the financial information of the entities or business activities within the Company to express an opinion on the parent company only financial statements. We are responsible for the direction, supervision and performance of the audit. We remain solely responsible for our audit opinion.

We communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that we identify during our audit.

We also provide those charged with governance with a statement that we have complied with relevant ethical requirements regarding independence, and to communicate with them all relationships and other matters that may reasonably be thought to bear on our independence, and where applicable, related safeguards.

From the matters communicated with those charged with governance, we determine those matters that were of most significance in the audit of the parent company only financial statements of the current year and are therefore the key audit matters. We describe these matters in our auditors’ report unless law or regulation precludes public disclosure about the matter or when, in extremely rare circumstances, we determine that a matter should not be communicated in our report because the adverse consequences of doing so would reasonably be expected to outweigh the public interest benefits of such communication.

The parent company only financial statements of Delta Electronics, Inc. as at and for the year ended December 31, 2024 expressed in US dollars are presented solely for the convenience of the reader and were translated from the financial statements expressed in New Taiwan dollars using the exchange rate of $32.785 to US$1.00 at December 31, 2024. This basis of translation is not in accordance with the Regulations Governing the Preparation of Financial Reports by Securities Issuers.

Hsiao, Chun-Yuan Hsu, Sheng-Chung

for and on behalf of PricewaterhouseCoopers, Taiwan

February 26, 2025

The accompanying parent company only financial statements are not intended to present the financial position and results of operations and cash flows in accordance with accounting principles generally accepted in countries and jurisdictions other than the Republic of China. The standards, procedures and practices in the Republic of China governing the audit of such financial statements may differ from those generally accepted in countries and jurisdictions other than the Republic of China. Accordingly, the accompanying parent company only financial statements and independent auditors’ report are not intended for use by those who are not informed about the accounting principles or auditing standards generally accepted in the Republic of China, and their applications in practice.

As the financial statements are the responsibility of the management, PricewaterhouseCoopers, Taiwan cannot accept any liability for the use of, or reliance on, the English translation or for any errors or misunderstandings that may derive from the translation.

DELTA ELECTRONICS, INC. PARENT COMPANY ONLY BALANCE SHEETS DECEMBER 31, 2024 AND 2023

(EXPRESSED IN THOUSANDS OF DOLLARS)

Assets	New Taiwan Dollars	New Taiwan Dollars
	December 31, 2024 $ 3,332,125 1,857,988 62,309 5,150,799 30,679 7,187,901 12,288,145 248,170 304,547 9,491,488 1,181,811 1,815 41,137,777 33,356 1,077,026 412,265 272,713,311 33,178,052 381,046 4,704,918 2,491,841 1,178,567 659,510 316,829,892 $ 357,967,669	December 31, 2023
Current assets Cash and cash equivalents Financial assets at fair value through profit or loss - current Financial assets at amortised cost – current Contract assets - current Notes receivable, net Accounts receivable, net Accounts receivable - related parties, net Other receivables Other receivables - related parties Inventories Prepayments Other current assets Total current assets Non-current assets Financial assets at fair value through profit or loss - non-current Financial assets at fair value through other comprehensive income - non-current Contract assets - non-current Investments accounted for under the equity method Property, plant and equipment Right-of-use assets Investment property, net Intangible assets Deferred income tax assets Other non-current assets Total non-current assets Total assets		$ 2,186,076 2,218,935 187,900 4,647,541 24,813 6,415,624 8,810,050 267,728 399,130 8,002,074 1,085,955 1,510
		34,247,336
		39,957 1,352,185 375,084 242,374,117 30,138,122 569,757 - 856,630 1,249,847 556,044
		277,511,743
		$ 311,759,079

(Continued)

DELTA ELECTRONICS, INC. PARENT COMPANY ONLY BALANCE SHEETS DECEMBER 31, 2024 AND 2023

(EXPRESSED IN THOUSANDS OF DOLLARS)

LiabilitiesandEquity	Notes 6(20) 7 6(13) 7 6(14)(15) 6(14) 6(15) 6(27) 6(16) 6(17) 6(18) 6(19) 9 11	USDollars December 31,2024 $ 71,946 189,728 242,694 681,971 6,786 45,581 182,096 32,612 1,453,414 735,092 900,567 660,690 9,861 140,952 2,447,162 3,900,576 792,296 1,680,570 1,190,766 121,877 3,002,373 230,184 7,018,066 $ 10,918,642	NewTaiwan Dollars December 31,2024 December 31,2023 $ 2,358,762 $ 2,557,660 6,220,234 4,008,846 7,956,713 7,821,531 22,358,432 19,252,244 222,494 185,029 1,494,379 2,453,879 5,970,000 2,490,095 1,069,179 659,913 47,650,193 39,429,197 24,100,000 29,100,000 29,525,067 21,897,353 21,660,730 18,947,786 323,272 493,150 4,621,121 2,727,815 80,230,190 73,166,104 127,880,383 112,595,301 25,975,433 25,975,433 55,097,489 54,636,991 39,039,276 35,674,625 3,995,738 2,968,678 98,432,786 83,903,789 7,546,564 ( 3,995,738) 230,087,286 199,163,778 $ 357,967,669 $ 311,759,079
Current liabilities Contract liabilities - current Accounts payable Accounts payable - related parties Other payables Other payables - related parties Current income tax liabilities Long-term liabilities, current portion Other current liabilities Total current liabilities Non-current liabilities Bonds payable Long-term borrowings Deferred income tax liabilities Lease liabilities - non-current Other non-current liabilities Total non-current liabilities Total liabilities Equity Share capital Common stock Capital surplus Capital surplus Retained earnings Legal reserve Special reserve Unappropriated retained earnings Other equity interest Other equity interest Total equity Significant contingent liabilities and unrecorded contract commitments Significant events after the balance sheet date Total liabilities and equity

The notes are an integral part of these parent company only financial statements. Please refer to the notes in the parent company only financial statements and report of independent accountants.

DELTA ELECTRONICS, INC.

PARENT COMPANY ONLY STATEMENTS OF COMPREHENSIVE INCOME YEARS ENDED DECEMBER 31, 2024 AND 2023

(EXPRESSED IN THOUSANDS OF DOLLARS, EXCEPT EARNINGS PER SHARE DATA)

Items	Notes 6(20) and 7 6(5)(25) (26) and 7 6(25)(26) ( ( ( 12(2) ( ( 6(21) 6(22) 6(23) ( 6(24) ( 6(6) 6(27) 6(16) 6(3) 6(27) 6(27) 6(28) 6(28)	US Dollars 2024 $ 2,804,947 ( 1,722,560) 1,082,387 55,843 ) 116,097 ) 630,886 ) 5,970) 808,796) 273,591 2,911 47,469 35,887 ) 37,883 ) 953,577 930,187 1,203,778 ( 129,244) $ 1,074,534 $ 9,126 ( 8,393 ) 4,530 ( 1,825) 3,438 414,625 ( 31,902 ) ( 22,074) 360,649 $ 364,087 $ 1,438,621 $ 0.41 $ 0.41	New Taiwan Dollars 2024 2023 $ 91,960,194 $ 86,866,626 ( 56,474,122)( 57,677,145) 35,486,072 29,189,481 ( 1,830,804) ( 1,474,529) ( 3,806,256) ( 3,282,352) ( 20,683,613) ( 17,770,231) ( 195,720) 4,760 ( 26,516,393)( 22,522,352) 8,969,679 6,667,129 95,440 50,002 1,556,281 1,240,608 ( 1,176,563) 1,359,097 ( 1,241,985) ( 874,398) 31,263,016 29,463,562 30,496,189 31,238,871 39,465,868 37,906,000 ( 4,237,291)( 4,513,335) $ 35,228,577 $ 33,392,665 $ 299,186 ( $ 12,475) ( 275,159) ( 4,589) 148,535 ( 13,015) ( 59,837) 2,495 112,725 ( 27,584) 13,593,485 ( 481,330) ( 1,045,919) ( 499,085) ( 723,687) 26,277 11,823,879 ( 954,138) $ 11,936,604 ( $ 981,722) $ 47,165,181 $ 32,410,943 $ 13.56 $ 12.86 $ 13.51 $ 12.80
Operating revenue Operating costs Gross profit Operating expenses Selling expenses General and administrative expenses Research and development expenses Expected credit impairment(loss)gain Total operating expenses Operating profit Non-operating income and expenses Interest income Other income Other gains and losses Finance costs Share of profit of subsidiaries, associates and joint ventures accounted for under the equity method Total non-operating income and expenses Profit before income tax Income tax expense Profit for the year Other comprehensive income (loss) Components of other comprehensive income (loss) that will not be reclassified to profit or loss Gain (loss) on remeasurements of defined benefit plans Unrealised loss on valuation of equity investment at fair value through other comprehensive income Share of other comprehensive income (loss) of subsidiaries, associates and joint ventures accounted for under the equity method that will not be reclassified to profit or loss Income tax related to components of other comprehensive income that will not be reclassified to profit or loss Other comprehensive income (loss) that will not be reclassified to profit or loss Components of other comprehensive income (loss) that will be reclassified to profit or loss Financial statements translation differences of foreign operations Share of other comprehensive loss of subsidiaries, associates and joint ventures accounted for under the equity method that will be reclassified to profit or loss Income tax relating to the components of other comprehensive income that will be reclassified to profit or loss Other comprehensive income (loss) that will be reclassified to profit or loss Other comprehensive income (loss) for the year Total comprehensive income for the year Earnings per share Basic earnings per share Diluted earnings per share

The notes are an integral part of these parent company only financial statements. Please refer to the notes in the parent company only financial statements and report of independent accountants.

DELTA ELECTRONICS, INC. PARENT COMPANY ONLY STATEMENTS OF CHANGES IN EQUITY YEARS ENDED DECEMBER 31, 2024 AND 2023

(EXPRESSED IN THOUSANDS OF DOLLARS)

2023 New Taiwan Dollars Balance at January 1, 2023 Profit for the year Other comprehensive (loss) income for the year Total comprehensive income (loss) for the year Distribution of 2022 earnings Legal reserve appropriated Special reserve reversed Cash dividends of ordinary share Changes in ownership interests in subsidiaries Difference between consideration and carrying amount of subsidiaries acquired or disposed Adjustment of profit and loss basis of hedging instruments Disposal of equity investment at fair value through other comprehensive income by subsidiaries Balance at December 31, 2023 2024 New Taiwan Dollars Balance at January 1, 2024 Profit for the year Other comprehensive income (loss) for the year Total comprehensive income (loss) for the year Distribution of 2023 earnings Legal reserve appropriated Special reserve appropriated Cash dividends of ordinary share Changes in ownership interests in subsidiaries Disposal of financial assets at fair value through other comprehensive income by subsidiaries Unclaimed dividends by shareholders Balance at December 31, 2024	Notes		Share capital - common stock		Capital surplus				Retained earnings					O	ther equityinterest				Total equity
							Legal reserve		Special reserve		Unappropriated retained earnings	Financial statements translation differences of foreign operations			Unrealised gains (losses) on financial assets measured at fair value through other comprehensive income		Gains (losses) on hedging instruments
	6(19) 6(19)		$ 25,975,433 - - - - - - - - - - $ 25,975,433 $ 25,975,433 - - - - - - - - - $ 25,975,433		$ 49,321,767 - - - - - - 31,584 5,283,640 - - $ 54,636,991 $ 54,636,991 - - - - - - 437,337 - 23,161 $ 55,097,489		$ 32,386,305 - - - 3,288,320 - - - - - - $ 35,674,625 $ 35,674,625 - - - 3,364,651 - - - - - $ 39,039,276		$ 16,166,722 - - - - ( 13,198,044 ) - - - - - $ 2,968,678 $ 2,968,678 - - - - 1,027,060 - - - - $ 3,995,738		$ 65,907,358 33,392,665 ( 144,952 ) 33,247,713 ( 3,288,320 ) 13,198,044 ( 25,559,802 ) - ( 507 ) - 399,303 $ 83,903,789 $ 83,903,789 35,228,577 393,243 35,621,820 ( 3,364,651 ) ( 1,027,060 ) ( 16,702,171 ) - 1,059 - $ 98,432,786		($ 2,530,216 ) - ( 954,138 ) ( 954,138 ) - - - - 38,742 - - ($ 3,445,612 ) ($ 3,445,612 ) - 11,823,879 11,823,879 - - - - - - $ 8,378,267		($ 568,379 ) - 287,639 287,639 - - - - - - ( 399,303 ) ($ 680,043 ) ($ 680,043 ) - ( 280,518 ) ( 280,518 ) - - - - ( 1,059 ) - ($ 961,620 )		$ 129,917 - ( 170,271 ) ( 170,271 ) - - - - - 170,271 - $ 129,917 $ 129,917 - - - - - - - - - $ 129,917	$ 186,788,907 33,392,665 ( 981,722 ) 32,410,943 - - ( 25,559,802 ) 31,584 5,321,875 170,271 - $ 199,163,778 $ 199,163,778 35,228,577 11,936,604 47,165,181 - - ( 16,702,171 ) 437,337 - 23,161 $ 230,087,286

(Continued)

DELTA ELECTRONICS, INC. PARENT COMPANY ONLY STATEMENTS OF CHANGES IN EQUITY YEARS ENDED DECEMBER 31, 2024 AND 2023

(EXPRESSED IN THOUSANDS OF DOLLARS)

2024 US Dollars Balance at January 1, 2024 Profit for the year Other comprehensive income (loss) for the year Total comprehensive income (loss) for the year Distribution of 2023 earnings Legal reserve appropriated Special reserve appropriated Cash dividends of ordinary share Changes in ownership interests in subsidiaries Disposal of equity investment at fair value through other comprehensive income by subsidiaries Unclaimed dividends by shareholders Balance at December 31, 2024	Notes		Share capital - common stock		Capital surplus				Retained earnings				Other equityinterest				Total equity
							Legal reserve		Special reserve		Unappropriated retained earnings	Financial statements translation differences of foreign operations	Unrealised gains (losses) on financial assets measured at fair value through other comprehensive income		Gains (losses) on hedging instruments
	6(19)		$ 792,296 - - - - - - - - - $ 792,296		$ 1,666,524 - - - - - - 13,340 - 706 $ 1,680,570		$ 1,088,138 - - - 102,628 - - - - - $ 1,190,766		$ 90,550 - - - - 31,327 - - - - $ 121,877	$ 2,559,213 1,074,534 11,994 1,086,528 ( 102,628 ) ( 31,327 ) ( 509,445 ) - 32 - $ 3,002,373		($ 105,097 ) - 360,649 360,649 - - - - - - $ 255,552	($ 20,743 ) - ( 8,556 ) ( 8,556 ) - - - - ( 32 ) - ($ 29,331 )		$ 3,963 - - - - - - - - - $ 3,963	$ 6,074,844 1,074,534 364,087 1,438,621 - - ( 509,445 ) 13,340 - 706 $ 7,018,066

The notes are an integral part of these parent company only financial statements. Please refer to the notes in the parent company only financial statements and report of independent accountants.

DELTA ELECTRONICS, INC.

PARENT COMPANY ONLY STATEMENTS OF CASH FLOWS

YEARS ENDED DECEMBER 31, 2024 AND 2023

(EXPRESSED IN THOUSANDS OF DOLLARS)

CASH FLOWS FROM OPERATING ACTIVITIES
Profit before tax for the year
Adjustments
Income and expenses having no effect on cash
flows
Depreciation
Amortization
Expected credit impairment loss (gain)
Interest expense
Interest income
Dividend income
Share of profit of subsidiaries, associates and
joint ventures accounted for under the equity
method
Net loss (gain) on financial assets at fair value
through profit or loss
Loss (gain) on disposal of property, plant and
equipment
Gain on disposal of investments
Impairment loss on non-financial assets
Changes in assets/liabilities relating to
operating activities
Net changes in assets relating to operating
activities
Contract assets
Notes receivable, net
Accounts receivable
Accounts receivable - related parties
Other receivables
Other receivables - related parties
Inventories
Prepayments
Other current assets
Other non-current assets
Net changes in liabilities relating to operating
activities
Contract liabilities
Accounts payable
Accounts payable - related parties
Other payables
Other payables - related parties
Other current liabilities
Other non-current liabilities
Cash inflow generated from operations
Interest received
Dividends received
Interest paid
Income taxes paid
Net cash flows from operating activities

US Dollars
New Taiwan Dollars
Notes
2024
2024
2023
$ 1,203,778
$ 39,465,868
$ 37,906,000
6(7)(8)(9)
(25)
88,315
2,895,403
2,454,757
6(10)(25)
16,036
525,748
481,272
12(2)
5,970
195,720 (
4,760 )
6(24)
37,883
1,241,985
874,398
6(21)
(
2,911 ) (
95,440 ) (
50,002 )
6(22)
(
4,545 ) (
149,003 ) (
65,996 )
6(6)
(
953,577 ) (
31,263,016 ) (
29,463,562 )
6(2)(23)
11,211
367,548 (
1,325,069 )
6(23)
2,611
85,620 (
3,163 )
6(23)
(
32 ) (
1,054 )
-
6(10)(23)
17,529
574,677
6,287
(
16,484 ) (
540,439 ) (
482,570 )
(
179 ) (
5,866 ) (
693 )
(
29,526 ) (
967,997 )
2,941,453
(
106,088 ) (
3,478,095 )
37,410
630
20,642 (
139,991 )
2,885
94,583
395,984
(
45,430 ) (
1,489,414 )
1,276,628
(
2,924 ) (
95,856 )
226,750
(
9 ) (
305 )
2,727
(
134 ) (
4,399 )
16,327
17,945
588,323 (
4,913 )
67,451
2,211,388 (
2,208,366 )
4,123
135,182 (
3,160,694 )
65,361
2,142,880
3,336,341
1,143
37,465
57,239
13,108
429,733
142,241
25,691
842,274
106,130
419,831
13,764,155
13,352,165
2,878
94,356
48,669
396,444
12,997,445
12,210,954
(
35,667 ) (
1,169,342 ) (
859,957 )
(
85,442) (
2,801,232) (
1,662,564)
698,044
22,885,382
23,089,267

(Continued)

DELTA ELECTRONICS, INC.

PARENT COMPANY ONLY STATEMENTS OF CASH FLOWS

YEARS ENDED DECEMBER 31, 2024 AND 2023

(EXPRESSED IN THOUSANDS OF DOLLARS)

CASH FLOWS FROM INVESTING ACTIVITIES
Decrease in financial assets at amortised cost
Acquisition of financial assets at fair value
through other comprehensive income
Acquisition of investments accounted for under
the equity method
Proceeds from disposal of investments accounted
for under the equity method
Proceeds from capital reduction of investments
accounted for under the equity method
Acquisition of property, plant and equipment
Proceeds from disposal of property, plant and
equipment
Acquisition of intangible assets
Acquisition of investment property
Decrease (increase) in other non-current assets
Net cash flows used in investing activities
CASH FLOWS FROM FINANCING ACTIVITIES
Proceeds from long-term borrowings
Repayment of long-term borrowings
Lease principal repayment
Cash dividends paid
Issuance of bonds payable
Increase (decrease) in refundable deposits
Net cash flows used in financing activities
Net increase in cash and cash equivalents
Cash and cash equivalents at beginning of year
Cash and cash equivalents at end of year

US Dollars
New Taiwan Dollars
Notes
2024
2024
2023
$ 140
$ 4,593
$ 41,831
-
-
(
13,160 )
(
6,505 ) (
213,261 ) (
1,262,759 )
156
5,109
-
-
-
56,216
(
173,577 ) (
5,690,722 ) (
4,954,535 )
459
15,062
12,451
(
144,538 ) (
1,469,374 ) (
318,171 )
6(9)
(
44,818 ) (
4,738,692 )
-
669
21,931
(
103,477 )
(
368,014 ) (
12,065,354 ) (
6,541,604 )
6(29)
2,443,675
80,115,894
66,072,601
6(29)
(
2,257,382 ) (
74,008,275 ) (
73,901,809 )
(
2,705 ) (
88,693 ) (
77,638 )
6(19)
(
509,445 ) (
16,702,171 ) (
25,559,802 )
6(29)
-
-
17,500,000
6(29)
30,784
1,009,266
(
303,515 )
(
295,073 ) (
9,673,979 ) (
16,270,163 )
34,957
1,146,049
277,500
66,679
2,186,076
1,908,576
$ 101,636
$ 3,332,125
$ 2,186,076

The notes are an integral part of these parent company only financial statements. Please refer to the notes in the parent company only financial statements and report of independent accountants. .

Appendix 3 INDEPENDENT AUDITORS’ REPORT

To the Board of Directors and Shareholders of Delta Electronics, Inc.

Opinion

We have audited the accompanying consolidated balance sheets of Delta Electronics, Inc. and subsidiaries (the “Group”) as at December 31, 2024 and 2023, and the related consolidated statements of comprehensive income, of changes in equity and of cash flows for the years then ended, and notes to the consolidated financial statements, including a summary of material accounting policies.

In our opinion, based on our audits and the reports of other auditors (refer to the Other matter section), the accompanying consolidated financial statements present fairly, in all material respects, the consolidated financial position of the Group as at December 31, 2024 and 2023, and its consolidated financial performance and its consolidated cash flows for the years then ended in accordance with the Regulations Governing the Preparation of Financial Reports by Securities Issuers and the International Financial Reporting Standards, International Accounting Standards, IFRIC Interpretations, and SIC Interpretations that came into effect as endorsed by the Financial Supervisory Commission.

Basis for opinion

We conducted our audits in accordance with the Regulations Governing Financial Statement Audit and Attestation Engagements of Certified Public Accountants and Standards on Auditing of the Republic of China. Our responsibilities under those standards are further described in the Auditors’ responsibilities for the audit of the consolidated financial statements section of our report. We are independent of the Group in accordance with the Norm of Professional Ethics for Certified Public Accountant of the Republic of China, and we have fulfilled our other ethical responsibilities in accordance with these requirements. Based on our audits and the audit reports of other auditors, we believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Key audit matters

Key audit matters are those matters that, in our professional judgment, were of most significance in our audit of the Group’s 2024 consolidated financial statements. These matters were addressed in the context of our audit of the consolidated financial statements as a whole and, in forming our opinion thereon, we do not provide a separate opinion on these matters.

Key audit matters for the Group’s 2024 consolidated financial statements are stated as follows: Intangible Assets - Impairment assessment of goodwill Description

Refer to Note 4(20) for the accounting policies on impairment of non-financial assets, and Notes 5(2) and 6(10) for the impairment assessment of goodwill including critical accounting estimates.

As of December 31, 2024, the balance of goodwill arising from the Group’s acquisitions is material, and the recoverable amount of goodwill, measured using the value-in-use method, amounted to NT$20,967,053 thousand, constituting 3.94% of the consolidated total assets. As the balance of goodwill is material, and the impairment assessment of goodwill is complex, has a high level of estimation uncertainty, and involves various assumptions which relies on management’s subjective judgment, the assessment of goodwill impairment has been identified as a key audit matter.

How our audit addressed the matter

We performed the following procedures for the above key audit matter:

A. Understood the process of goodwill impairment assessment, obtained the assessment form provided by management and assessed whether the valuation models adopted by management are reasonable for the industry, environment and the valued assets of the Company.
B. Assessed the reasonableness of material assumptions, such as expected future cash flows, expected growth rates, operating margin and discount rates, by:
(a) Checking the setting of parameters of valuation models and calculation formulas;
(b) Confirming whether the expected future cash flows are in agreement with the budget provided by the business units;
(c) Comparing the expected growth rate and operating margin with historical data, economic and industrial forecast documents; and

(d) Comparing the discount rate with cost of capital assumptions of cash generating units and rates of return of similar assets.

Other matter – Reference to the audits of other auditors

We did not audit the consolidated financial statements of certain subsidiaries which were audited by other auditors. Therefore, our opinion expressed herein, insofar as it relates to the amounts included in respect of these subsidiaries, is based solely on the reports of the other auditors. Total assets of these subsidiaries amounted to NT$99,927,801 thousand and NT$80,670,851 thousand, constituting 18.79% and 17.62% of the consolidated total assets as at December 31, 2024 and 2023, respectively, and the operating revenue amounted to NT$104,480,748 thousand and NT$86,453,765 thousand, constituting 24.81% and 21.55% of the consolidated total operating revenue for the years then ended, respectively.

Other matter – Parent company only financial reports

We have audited and expressed an unmodified opinion with other matter section on the parent company only financial statements of Delta Electronics, Inc. as at and for the years ended December 31, 2024 and 2023.

Responsibilities of management and those charged with governance for the consolidated financial statements

Management is responsible for the preparation and fair presentation of the consolidated financial statements in accordance with the Regulations Governing the Preparation of Financial Reports by Securities Issuers, and the International Financial Reporting Standards, International Accounting Standards, IFRIC Interpretations, and SIC Interpretations that came into effect as endorsed by the Financial Supervisory Commission, and for such internal control as management determines is necessary to enable the preparation of consolidated financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the consolidated financial statements, management is responsible for assessing the Group’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless management either intends to liquidate the Group

or to cease operations, or has no realistic alternative but to do so.

Those charged with governance, including audit committee, are responsible for overseeing the Group’s financial reporting process.

Auditors’ responsibilities for the audit of the consolidated financial statements

Our objectives are to obtain reasonable assurance about whether the consolidated financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditors’ report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with the Standards on Auditing of the Republic of China will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these consolidated financial statements.

As part of an audit in accordance with the Standards on Auditing of the Republic of China, we exercise professional judgment and professional skepticism throughout the audit. We also:

A. Identify and assess the risks of material misstatement of the consolidated financial statements, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control;

B. Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the Group’s internal control;

C. Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by management;
D. Conclude on the appropriateness of management’s use of the going concern basis of accounting and, based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the Group’s ability to continue as a going concern.

If we conclude that a material uncertainty exists, we are required to draw attention in our auditors’ report to the related disclosures in the consolidated financial statements or, if such disclosures are inadequate, to modify our opinion. Our conclusions are based on the audit evidence obtained up to the date of our auditors’ report. However, future events or conditions may cause the Group to cease to continue as a going concern;

E. Evaluate the overall presentation, structure and content of the consolidated financial statements, including the disclosures, and whether the consolidated financial statements represent the underlying transactions and events in a manner that achieves fair presentation; and

F.

Obtain sufficient appropriate audit evidence regarding the financial information of the entities or business activities within the Group to express an opinion on the consolidated financial statements. We are responsible for the direction, supervision and performance of the group audit. We remain solely responsible for our audit opinion.

From the matters communicated with those charged with governance, we determine those matters that were of most significance in the audit of the consolidated financial statements of the current year and are therefore the key audit matters. We describe these matters in our auditors’ report unless law or regulation precludes public disclosure about the matter or when, in extremely rare circumstances, we determine that a matter should not be communicated in our report because the adverse consequences of doing so would reasonably be expected to outweigh the public interest benefits of such communication.

The consolidated financial statements of Delta Electronics, Inc. and subsidiaries as at and for the year ended December 31, 2024 expressed in US dollars are presented solely for the convenience of the reader and were translated from the financial statements expressed in New Taiwan dollars using the

exchange rate of $32.785 to US$1.00 at December 31, 2024. This basis of translation is not in accordance with International Financial Reporting Standards, International Accounting Standards, and relevant interpretations and interpretative bulletins that are ratified by the FSC.

Hsiao, Chun-Yuan Hsu, Sheng-Chung

for and on behalf of PricewaterhouseCoopers, Taiwan

February 26, 2025

-------------------------------------------------------------------------------------------------------------------------------------------------------------The accompanying consolidated financial statements are not intended to present the financial position and results of operations and cash flows in accordance with accounting principles generally accepted in countries and jurisdictions other than the Republic of China. The standards, procedures and practices in the Republic of China governing the audit of such financial statements may differ from those generally accepted in countries and jurisdictions other than the Republic of China. Accordingly, the accompanying consolidated financial statements and independent auditors’ report are not intended for use by those who are not informed about the accounting principles or auditing standards generally accepted in the Republic of China, and their applications in practice.

DELTA ELECTRONICS, INC. AND SUBSIDIARIES CONSOLIDATED BALANCE SHEETS DECEMBER 31, 2024 AND 2023

(EXPRESSED IN THOUSANDS OF DOLLARS)

Assets Current assets Cash and cash equivalents Financial assets at fair value through profit or loss - current Financial assets at amortised cost - current Contract assets - current Notes receivable, net Accounts receivable, net Accounts receivable - related parties, net Other receivables Current income tax assets Inventories Prepayments Other current assets Total current assets Non-current assets Financial assets at fair value through profit or loss - non-current Financial assets at fair value through other comprehensive income - non-current Contract assets - non-current Investments accounted for under the equity method Property, plant and equipment Right-of-use assets Investment property, net Intangible assets Deferred income tax assets Other non-current assets Total non-current assets Total assets	Notes 6(1) 6(2) 8 6(5) 6(5) and 8 7 7 6(6) 6(2) 6(3) 6(7) and 8 6(8) 6(9) 6(10) 6(28) 6(5)(11) and 8	USDollars December 31, 2024 $ 3,582,713 127,506 4,667 178,422 74,064 2,668,318 351 68,928 59,618 2,557,765 158,142 3,259 9,483,753 44,591 63,691 22,075 7,132 3,529,371 137,606 143,937 2,403,014 280,810 107,833 6,740,060 $ 16,223,813	NewTaiwan Dollars	NewTaiwan Dollars
			December 31, 2024 $ 117,459,250 4,180,276 153,016 5,849,578 2,428,199 87,480,791 11,511 2,259,790 1,954,568 83,856,341 5,184,675 106,853 310,924,848 1,461,913 2,088,104 723,739 233,811 115,710,424 4,511,414 4,718,988 78,782,813 9,206,364 3,535,299 220,972,869 $ 531,897,717	December 31, 2023
				$ 87,455,916 4,904,074 259,567 5,529,060 2,245,939 77,127,923 5,801 2,326,227 805,368 76,226,562 2,996,762 74,985
				259,958,184
				1,367,375 1,995,030 708,329 99,423 98,001,515 4,834,885 14,070 78,544,404 8,833,470 3,389,893
				197,788,394
				$ 457,746,578

(Continued)

DELTA ELECTRONICS, INC. AND SUBSIDIARIES CONSOLIDATED BALANCE SHEETS DECEMBER 31, 2024 AND 2023

(EXPRESSED IN THOUSANDS OF DOLLARS)

Liabilities and Equity	Notes 6(12) 6(2) 6(21) 7 6(13) and 7 6(14)(15) 6(14) 6(15) 6(28) 6(16) 6(17) 6(18) 6(19) 4(3) and 6(20) 9 11	USDollars December 31, 2024 $ 58,498 8,813 328,536 94 2,110,367 970 1,569,843 186,987 189,205 191,589 4,644,902 735,092 982,428 834,316 67,640 432,202 3,051,678 7,696,580 792,296 1,680,570 1,190,766 121,877 3,002,373 230,184 7,018,066 1,509,167 8,527,233 $ 16,223,813	NewTaiwan Dollars December 31, 2024 December 31, 2023 $ 1,917,874 $ 3,334,888 288,931 54,410 10,771,046 9,156,906 3,068 4,538 69,188,388 53,496,221 31,795 38,185 51,467,315 44,336,025 6,130,382 5,683,107 6,203,089 2,539,678 6,281,238 7,440,595 152,283,126 126,084,553 24,100,000 29,100,000 32,208,906 22,320,422 27,353,051 23,678,006 2,217,571 2,555,275 14,169,727 11,272,829 100,049,255 88,926,532 252,332,381 215,011,085 25,975,433 25,975,433 55,097,489 54,636,991 39,039,276 35,674,625 3,995,738 2,968,678 98,432,786 83,903,789 7,546,564 ( 3,995,738) 230,087,286 199,163,778 49,478,050 43,571,715 279,565,336 242,735,493 $ 531,897,717 $ 457,746,578
Current liabilities Short-term borrowings Financial liabilities at fair value through profit or loss - current Contract liabilities - current Notes payable Accounts payable Accounts payable - related parties Other payables Current income tax liabilities Long-term liabilities, current portion Other current liabilities Total current liabilities Non-current liabilities Bonds payable Long-term borrowings Deferred income tax liabilities Lease liabilities - non-current Other non-current liabilities Total non-current liabilities Total liabilities Equity Share capital Common stock Capital surplus Capital surplus Retained earnings Legal reserve Special reserve Unappropriated retained earnings Other equity interest Other equity interest Equity attributable to owners of the parent Non-controlling interest Total equity Significant contingent liabilities and unrecorded contract commitments Significant events after the balance sheet date Total liabilities and equity

The notes are an integral part of these consolidated financial statements. Please refer to the notes in the consolidated financial statements and report of independent accountants.

DELTA ELECTRONICS, INC. AND SUBSIDIARIES CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME YEARS ENDED DECEMBER 31, 2024 AND 2023

(EXPRESSED IN THOUSANDS OF DOLLARS, EXCEPT EARNINGS PER SHARE DATA)

				US Dollars		New Taiwan Dollars	New Taiwan Dollars
Items	Notes			2024		2024		2023
Operating revenue	6(21) and 7		$	12,845,739	$	421,147,557	$	401,226,501
Operating costs	6(6)(26)
	(27) and 7	(		8,679,804) (		284,567,383) (		284,013,473 )
Gross profit				4,165,935		136,580,174		117,213,028
Operating expenses	6(26)(27)
Selling expenses		(		848,805 ) (		27,828,065) (		24,136,041 )
General and administrative expenses		(		591,502 ) (		19,392,387) (		15,951,952 )
Research and development expenses		(		1,268,103 ) (		41,574,772) (		36,047,850 )
Expected credit impairment loss	12(2)	(		4,062) (		133,182) (		127,348 )
Total operating expenses		(		2,712,472) (		88,928,406) (		76,263,191 )
Operating profit				1,453,463		47,651,768		40,949,837
Non-operating income and expenses
Interest income	6(22)			103,913		3,406,797		2,070,115
Other income	6(23)			145,080		4,756,442		4,440,902
Other gains and losses	6(24)	(		87,820 ) (		2,879,167)		2,343,695
Finance costs	6(25)	(		47,196 ) (		1,547,313) (		1,170,718 )
Share of profit of associates and joint
ventures accounted for under the equity
method		(		2,223) (		72,899)		8,280
Total non-operating income and
expenses				111,754		3,663,860		7,692,274
Profit before income tax				1,565,217		51,315,628		48,642,111
Income tax expense	6(28)	(		333,217) (		10,924,528) (		9,761,744 )
Profit for the year			$	1,232,000	$	40,391,100	$	38,880,367

(Continued)

DELTA ELECTRONICS, INC. AND SUBSIDIARIES CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME YEARS ENDED DECEMBER 31, 2024 AND 2023

(EXPRESSED IN THOUSANDS OF DOLLARS, EXCEPT EARNINGS PER SHARE DATA)

Items Notes Other comprehensive income (loss) Components of other comprehensive income (loss) that will not be reclassified to profit or loss Gain(loss) on remeasurements of defined benefit plans Unrealised (loss) gain on valuation of equity investment at fair value through other comprehensive income 6(3) Loss on hedging instrument that will not be reclassified to profit or loss 6(4) Income tax related to components of other comprehensive income that will not be reclassified to profit or loss 6(28) Other comprehensive income (loss) that will not be reclassified to profit or loss Components of other comprehensive income (loss) that will be reclassified to profit or loss Financial statements translation differences of foreign operations Share of other comprehensive loss of associates and joint ventures accounted for under the equity method that will be reclassified to profit or loss Income tax relating to the components of other comprehensive income that will be reclassified to profit or loss 6(28) Other comprehensive income (loss) that will be reclassified to profit or loss Other comprehensive income (loss) for the year Total comprehensive income for the year Profit attributable to: Owners of the parent Non-controlling interest Comprehensive income attributable to: Owners of the parent Non-controlling interest Earnings per share Basic earnings per share 6(29) Diluted earnings per share 6(29)	USDollars 2024 $ 14,111 ( 8,594 ) - ( 2,005) 3,512 472,517 ( 125 ) ( 29,040) 443,352 $ 446,864 $ 1,678,864 $ 1,074,534 $ 157,466 $ 1,438,621 $ 240,243 $ 0.41 $ 0.41	NewTaiwan Dollars 2024 2023 $ 462,628 ( $ 212,064 ) ( 281,757) 352,641 - ( 170,271 ) ( 65,718)( 62,162 ) 115,153 ( 91,856 ) 15,491,455 ( 602,681 ) ( 4,100) ( 2,307 ) ( 952,057) 27,444 14,535,298 ( 577,544 ) $ 14,650,451 ($ 669,400 ) $ 55,041,551 $ 38,210,967 $ 35,228,577 $ 33,392,665 $ 5,162,523 $ 5,487,702 $ 47,165,181 $ 32,410,943 $ 7,876,370 $ 5,800,024 $ 13.56 $ 12.86 $ 13.51 $ 12.80

The notes are an integral part of these consolidated financial statements. Please refer to the notes in the consolidated financial statements and report of independent accountants.

DELTA ELECTRONICS, INC. AND SUBSIDIARIES CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY

YEARS ENDED DECEMBER 31, 2024 AND 2023

(EXPRESSED IN THOUSANDS OF DOLLARS)

Notes				Equityattr	utable to owners of t	eparent					Non-controlling interest	Total equity
	Share capital - common stock	Capital surplus		Retained earnings			Ot	her equityinterest		Total
			Legal reserve	Special reserve	Unappropriated retained earnings	Financial statements translation differences of foreign operations		Unrealised gain (loss) on financial assets measured at fair value through other comprehensive income	Gain (loss) on hedging instruments
6(19) 6(33) 6(4) 6(19)	$ 25,975,433 - - - - - - - - - - - $ 25,975,433 $ 25,975,433 - - - - - - - - - - $ 25,975,433	$ 49,321,767 - - - - - - 31,584 5,283,640 - - - $ 54,636,991 $ 54,636,991 - - - - - - 437,337 - 23,161 - $ 55,097,489	$ 32,386,305 - - - 3,288,320 - - - - - - - $ 35,674,625 $ 35,674,625 - - - 3,364,651 - - - - - - $ 39,039,276	$ 16,166,722 - - - - ( 13,198,044 ) - - - - - - $ 2,968,678 $ 2,968,678 - - - - 1,027,060 - - - - - $ 3,995,738	$ 65,907,358 33,392,665 ( 144,952) 33,247,713 ( 3,288,320) 13,198,044 ( 25,559,802) - ( 507) - 399,303 - $ 83,903,789 $ 83,903,789 35,228,577 393,243 35,621,820 ( 3,364,651) ( 1,027,060) ( 16,702,171) - 1,059 - - $ 98,432,786	($ 2,530,216) - ( 954,138) ( 954,138) - - - - 38,742 - - - ($ 3,445,612) ($ 3,445,612) - 11,823,879 11,823,879 - - - - - - - $ 8,378,267		($ 568,379) - 287,639 287,639 - - - - - - ( 399,303) - ($ 680,043) ($ 680,043) - ( 280,518 ) ( 280,518 ) - - - - ( 1,059 ) - - ($ 961,620)	$ 129,917 - ( 170,271) ( 170,271) - - - - - 170,271 - - $ 129,917 $ 129,917 - - - - - - - - - - $ 129,917	$ 186,788,907 33,392,665 ( 981,722) 32,410,943 - - ( 25,559,802) 31,584 5,321,875 170,271 - - $ 199,163,778 $ 199,163,778 35,228,577 11,936,604 47,165,181 - - ( 16,702,171) 437,337 - 23,161 - $ 230,087,286	$ 38,578,278 5,487,702 312,322 5,800,024 - - - - 451,901 - - ( 1,258,488 ) $ 43,571,715 $ 43,571,715 5,162,523 2,713,847 7,876,370 - - - - - - ( 1,970,035) $ 49,478,050	$ 225,367,185 38,880,367 ( 669,400) 38,210,967 - - ( 25,559,802 ) 31,584 5,773,776 170,271 - ( 1,258,488 ) $ 242,735,493 $ 242,735,493 40,391,100 14,650,451 55,041,551 - - ( 16,702,171 ) 437,337 - 23,161 ( 1,970,035) $ 279,565,336

(Continued)

DELTA ELECTRONICS, INC. AND SUBSIDIARIES CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY YEARS ENDED DECEMBER 31, 2024 AND 2023

(EXPRESSED IN THOUSANDS OF DOLLARS)

Notes				Equityattr	utable to owners of t	eparent					Non-controlling interest	Total equity
	Share capital - common stock	Capital surplus		Retained earnings			Ot	her equityinterest		Total
			Legal reserve	Special reserve	Unappropriated retained earnings	Financial statements translation differences of foreign operations		Unrealised gain (loss) on financial assets measured at fair value through other comprehensive income	Gain (loss) on hedging instruments
6(19)	$ 792,296 - - - - - - - - - - $ 792,296	$ 1,666,524 - - - - - - 13,340 - 706 - $ 1,680,570	$ 1,088,138 - - - 102,628 - - - - - - $ 1,190,766	$ 90,550 - - - - 31,327 - - - - - $ 121,877	$ 2,559,213 1,074,534 11,994 1,086,528 ( 102,628) ( 31,327) ( 509,445) - 32 - - $ 3,002,373	($ 105,097) - 360,649 360,649 - - - - - - - $ 255,552		($ 20,743) - ( 8,556) ( 8,556) - - - - ( 32) - - ($ 29,331)	$ 3,963 - - - - - - - - - - $ 3,963	$ 6,074,844 1,074,534 364,087 1,438,621 - - ( 509,445) 13,340 - 706 - $ 7,018,066	$ 1,329,014 157,466 82,777 240,243 - - - - - - ( 60,090) $ 1,509,167	$ 7,403,858 1,232,000 446,864 1,678,864 - - ( 509,445 ) 13,340 - 706 ( 60,090) $ 8,527,233

The notes are an integral part of these consolidated financial statements. Please refer to the notes in the consolidated financial statements and report of independent accountants.

DELTA ELECTRONICS, INC. AND SUBSIDIARIES CONSOLIDATED STATEMENTS OF CASH FLOWS YEARS ENDED DECEMBER 31, 2024 AND 2023

(EXPRESSED IN THOUSANDS OF DOLLARS)

CASH FLOWS FROM OPERATING ACTIVITIES
Consolidated profit before tax for the year
Adjustments
Income and expenses having no effect on cash flows
Depreciation
Amortization
Expected credit impairment loss
Net loss (gain) on financial assets or liabilities at
fair value through profit or loss
Interest expense
Interest income
Dividend income
Share-based payments
Share of loss (profit) of associates accounted for
under the equity method
Loss on disposal of property, plant and equipment
Gain on disposal of investments
Impairment loss on non-financial assets
Changes in assets/liabilities relating to operating
activities
Net changes in assets relating to operating activities
Financial assets mandatorily measured at fair
value through profit or loss
Contract assets
Notes receivable
Accounts receivable
Accounts receivable - related parties
Other receivables
Other receivables - related parties
Inventories
Prepayments
Other current assets
Other non-current assets
Net changes in liabilities relating to operating
activities
Contract liabilities
Notes payable
Accounts payable
Accounts payable - related parties
Other payables
Other current liabilities
Other non-current liabilities
Cash inflow generated from operations
Interest received
Dividends received
Interest paid
Income taxes paid
Net cash flows from operating activities

US Dollars
New Taiwan Dollars
Notes
2024
2024
2023
$ 1,565,217
$ 51,315,628
$ 48,642,111
6(7)(8)(9)(26)
643,420
21,094,536
17,577,068
6(10)(26)
119,617
3,921,636
4,012,685
12(2)
4,062
133,182
127,348
6(2)(24)
22,830
748,489
(
1,891,458 )
6(25)
47,196
1,547,313
1,170,718
6(22)
(
103,913 ) (
3,406,797 ) (
2,070,115 )
6(23)
(
13,353 ) (
437,793 ) (
213,856 )
6(30)
726
23,805
45,869
2,223
72,899
(
8,280 )
6(24)
4,944
162,080
196,768
6(24)
(
32 ) (
1,054 ) (
207,397 )
6(7)(10)(24)
81,962
2,687,117
318,915
(
6,243 ) (
204,675 )
338,833
(
10,246 ) (
335,928 ) (
895,832 )
(
5,559 ) (
182,260 )
877,703
(
317,343 ) (
10,404,087 )
7,245,438
(
174 ) (
5,710 )
23,750
7,815
256,220
49,058
95
3,122
453,284
(
232,722 ) (
7,629,779 )
4,132,104
(
66,735 ) (
2,187,913 ) (
170,154 )
(
972 ) (
31,868 )
90,946
1,545
50,668
115,452
68,856
2,257,457
1,366,907
(
45 ) (
1,470 )
3,132
478,639
15,692,167
(
9,826,389 )
(
195 ) (
6,390 )
10,006
148,279
4,861,311
2,876,788
(
35,665 ) (
1,169,261 )
717,425
22,202
727,891
1,793,941
2,426,431
79,550,536
76,902,768
98,034
3,214,041
1,949,060
13,349
437,644
213,859
(
44,882 ) (
1,471,457 ) (
952,693 )
(
269,508 ) (
8,835,807 ) (
7,026,581 )
2,223,424
72,894,957
71,086,413

(Continued)

DELTA ELECTRONICS, INC. AND SUBSIDIARIES

CONSOLIDATED STATEMENTS OF CASH FLOWS YEARS ENDED DECEMBER 31, 2024 AND 2023

(EXPRESSED IN THOUSANDS OF DOLLARS)

CASH FLOWS FROM INVESTING ACTIVITIES
Acquisition of financial assets at fair value through other
comprehensive income
Disposal of financial asset at fair value through other
comprehensive income
(Increase) decrease in financial assets at amortised cost
Increase in financial assets for hedging
Decrease in financial assets for hedging
Acquisition of investments accounted for using equity
Net cash flow from acquisition of subsidiaries (net of cash
acquired)

Proceeds from disposal of subsidiaries (net of cash
disposed)

Acquisition of property, plant and equipment
Proceeds from government grants - property, plant and
equipment
Proceeds from disposal of property, plant and equipment
Increase in prepayment for land and building

Acquisition of intangible assets
(Acquisition) disposal of investment property

Decrease in other non-current assets
Net cash flows used in investing activities
CASH FLOWS FROM FINANCING ACTIVITIES
(Decrease) increase in short-term borrowings

Issuance of bonds payable

Proceeds from long-term debts
Repayment of long-term debts
Lease principal repayment
Increase in refundable deposits
Cash dividends paid

Cash dividends paid to minority share interests

Acquisition of ownership interests in subsidiaries

Disposal of ownership interests in subsidiaries (without
losing control)

Net cash flows used in financing activities
Effects due to changes in exchange rate
Net increase in cash and cash equivalents
Cash and cash equivalents at beginning of year
Cash and cash equivalents at end of year

US Dollars
New Taiwan Dollars
Notes
2024
2024
2023
( $ 10,226 ) ( $ 335,263 ) ( $ 461,120 )
38
1,232
554,179
(
2,774 ) (
90,934 )
120,039
-
-
(
4,540,389 )
-
-
4,540,389
(
6,501 ) (
213,147 )
-
6(31)
-
-
(
5,629,812 )
6(32)
-
-
89,006
(
1,019,672 ) (
33,429,953 ) (
27,829,767 )
1,207
39,584
13,611
1,530
50,167
51,934
6(11)
(
1,675 ) (
54,900 )
-
(
50,158 ) (
1,644,428 ) (
469,890 )
6(9)
(
144,538 ) (
4,738,692 )
4,058
1,718
56,311
56,069
(
1,231,051 ) (
40,360,023 ) (
33,501,693 )
6(34)
(
43,222 ) (
1,417,014 )
874,114
6(34)
-
-
17,500,000
2,519,703
82,608,465
66,150,386
(
2,258,855 ) (
74,056,570 ) (
74,197,912 )
(
19,008 ) (
623,183 ) (
816,154 )
32,537
1,066,730
87,910
6(19)
(
509,445 ) (
16,702,171 ) (
25,559,802 )
6(20)
(
60,816 ) (
1,993,839 ) (
1,895,556 )
6(33)
-
-
(
1,619 )
6(33)
-
-
7,380,571
(
339,106 ) (
11,117,582 ) (
10,478,062 )
261,887
8,585,982
(
1,197,578 )
915,154
30,003,334
25,909,080
2,667,559
87,455,916
61,546,836
$ 3,582,713
$ 117,459,250
$ 87,455,916

The notes are an integral part of these consolidated financial statements. Please refer to the notes in the consolidated financial statements and report of independent accountants.

Appendix 4 Audit and Risk Committee’s Review Report

Attention: 2025 Annual General Shareholders’ Meeting of Delta Electronics, Inc.

We, the Audit and Risk Committee of the Company have reviewed the business report, parent company only financial statements, consolidated financial statements and proposal for earnings distribution of the Company for the year 2024 in accordance with applicable laws and regulations and found the same have been complied with. We hereby report to the shareholders as described above in accordance with Article 14-4 of the “Securities and Exchange Act” and Article 219 of the “Company Act”.

The Audit and Risk Committee of Delta Electronics, Inc.

Convenor of the Audit and Risk Committee: Audrey Tseng

Date: February 26, 2025

AI assistant

DELTA — AGM Information 2025

52000_rns_2025-06-04_48757627-e776-4a08-bd09-1930abc270cc.pdf

Delta Electronics, Inc. (“Company”) Minutes of 2025 Annual General Shareholders’ Meeting

(Translation)

1. Report Items

2. Proposal Items

Delta Electronics, Inc. 2024 Earnings Distribution Table

Chairman: Ping Cheng President: Simon Chang Chief Accounting Officer: Beau Yu

Resolution:

3. Discussion Items

Comparison Table of Revised Articles of the Articles of Incorporation

Resolution:

Description of Positions of Directors in Other Companies (Newly added)

Resolution:

4. Extemporary Motions:

Shareholder (account number: 220812) raised the comment: What is the percentage of the

Appendix 1 Business Report

Business Overview

Power Electronics

Automation

Infrastructure

Mobility

source for Delta’s Mobility Business category.

Future Development Strategy of the Company

Appendix 2

INDEPENDENT AUDITORS’ REPORT

Opinion

Basis for opinion

Key audit matters

Intangible assets (including subsidiaries) - Impairment assessment of goodwill

– Other matter Reference to the audits of other auditors

Responsibilities of management and those charged with governance for the parent company only financial statements

Auditors’ responsibilities for the audit of the parent company only financial statements

DELTA ELECTRONICS, INC. PARENT COMPANY ONLY BALANCE SHEETS DECEMBER 31, 2024 AND 2023

DELTA ELECTRONICS, INC. PARENT COMPANY ONLY BALANCE SHEETS DECEMBER 31, 2024 AND 2023

DELTA ELECTRONICS, INC.

PARENT COMPANY ONLY STATEMENTS OF COMPREHENSIVE INCOME YEARS ENDED DECEMBER 31, 2024 AND 2023

DELTA ELECTRONICS, INC. PARENT COMPANY ONLY STATEMENTS OF CHANGES IN EQUITY YEARS ENDED DECEMBER 31, 2024 AND 2023

DELTA ELECTRONICS, INC. PARENT COMPANY ONLY STATEMENTS OF CHANGES IN EQUITY YEARS ENDED DECEMBER 31, 2024 AND 2023

DELTA ELECTRONICS, INC.

PARENT COMPANY ONLY STATEMENTS OF CASH FLOWS

YEARS ENDED DECEMBER 31, 2024 AND 2023

DELTA ELECTRONICS, INC.

PARENT COMPANY ONLY STATEMENTS OF CASH FLOWS

YEARS ENDED DECEMBER 31, 2024 AND 2023

Appendix 3

INDEPENDENT AUDITORS’ REPORT

Opinion

Basis for opinion

Key audit matters

How our audit addressed the matter

Other matter – Reference to the audits of other auditors

Other matter – Parent company only financial reports

Responsibilities of management and those charged with governance for the consolidated financial statements

Auditors’ responsibilities for the audit of the consolidated financial statements

F.

Hsiao, Chun-Yuan Hsu, Sheng-Chung

February 26, 2025

DELTA ELECTRONICS, INC. AND SUBSIDIARIES CONSOLIDATED BALANCE SHEETS DECEMBER 31, 2024 AND 2023

DELTA ELECTRONICS, INC. AND SUBSIDIARIES CONSOLIDATED BALANCE SHEETS DECEMBER 31, 2024 AND 2023

DELTA ELECTRONICS, INC. AND SUBSIDIARIES CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME YEARS ENDED DECEMBER 31, 2024 AND 2023

DELTA ELECTRONICS, INC. AND SUBSIDIARIES CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME YEARS ENDED DECEMBER 31, 2024 AND 2023

DELTA ELECTRONICS, INC. AND SUBSIDIARIES CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY

YEARS ENDED DECEMBER 31, 2024 AND 2023

DELTA ELECTRONICS, INC. AND SUBSIDIARIES CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY YEARS ENDED DECEMBER 31, 2024 AND 2023

DELTA ELECTRONICS, INC. AND SUBSIDIARIES CONSOLIDATED STATEMENTS OF CASH FLOWS YEARS ENDED DECEMBER 31, 2024 AND 2023

DELTA ELECTRONICS, INC. AND SUBSIDIARIES

CONSOLIDATED STATEMENTS OF CASH FLOWS YEARS ENDED DECEMBER 31, 2024 AND 2023

Appendix 4

Audit and Risk Committee’s Review Report

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