GIGA-BYTE TECHNOLOGY CO., LTD.

Minutes of the 2025 Annual General Meeting
(Translations)

Time: 9:00 a.m., Tuesday, 10 June 2025

Place: Hotel Kuva Chateau No. 398, Minquan Road, Zhongli District, Taoyuan City

Attendance: The total amount of shares represented by attended shareholders and proxies is 442,989,785 shares (391,227,842 shares representing electronic voting), commanding 66.12% of the totally issued shares of this Company at 669,888,886 shares, reaching the statutory requirement for the annual general meeting of shareholders. The chairman thus called the meeting to order according to the law.

Attendees: Mou-Ming Ma, Chun-Ming Tseng, E-Tay Lee, Hsueh-Ching Yang (these are directors) and Hwei-Min Wang, Chen-Li Yang, Peng-Huang Peng, Li-Chen Lin, Wen-Yi Chu (these are independent directors).

Guests: Chun-Yuan Xiao of PwC Taiwan, CFO Chun-Ying Chen and General Counsel Chih-Peng Chiu.

Chairman: Pei-Chen Yeh
Recorder: Si-Zheng Huang

I. Calling the meeting to order: The total amount of shares represented by attended shareholders and proxies has exceeded the statutory requirement, the chairman thus called the meeting to order.

II. Chairman's address: (Omitted).

III. Management presentations

(1) 2024 business reports
Explanation: Please refer to Appendix 1 2024 Business Report.

(2) Audit Committee's review report on the 2024 financial statements
Explanation: Please refer to Appendix 2 Approval/Audit Report of the Audit Committee.

(3) Reports on the distribution of compensations to employees and directors in 2024
Explanation:

According to Article 28 of the Articles of Incorporation regarding the percentage of profits distributed to employees and directors, if there is profit in the year, this Company will appropriate 3-10% as compensations for employees and not more than 3% as compensations for directors.
In 2024, this Company plans to appropriate NT$1,198,286,305 and NT$46,000,000 as compensations for employees and directors respectively. The appropriation ratio is 10% and 0.38% respectively. Both are distributed in cash.

This proposal has been approved by the Compensations Committee Meeting and the Board Meeting.

(4) Report on 2024 surplus distribution in the form of cash dividend distribution in cash

Explanation:

According to Article 28 of the Articles of Incorporation, distributable dividends and bonuses is authorized to be paid after a resolution has been adopted at a meeting of the board of directors, in whole or in part by cash, and be submitted to the shareholders' meeting.
The Company proposes to distribute cash dividend of NT$6,698,888,860 to shareholders in accordance with the Articles of Incorporation, at NT$10 per share. Cash dividends will be distributed up to one dollar (rounded down values below NT$1). The odd amount will be combined to the Company's non-operating income. Subsequently, if the number of shares outstanding is affected and the distribution ratio per share is changed due to the repurchase of shares of the Company, the transfer or cancellation of treasury shares, etc., it is proposed to authorize the Chairman to deal with it with full power.
Upon resolution of the meeting of the Board of Directors, the Board of Directors shall set the dividend (distribution) record date, distribution date and other related matters.

(5) Report on the reasons for issuing the corporate bond and related matters

Explanation:

The Company issued its third overseas unsecured convertible corporate bond on July 23, 2024 within the limit of USD300,000 thousand to meet the funding needs for materials purchase in foreign currency. The issuance status is as follows:

Bond name	Third Issue of the Unsecured Overseas Convertible Bonds
Approval date	July 15, 2024
Issue date	July 23, 2024
Maturity date	July 23, 2029
Total amount of the issue	USD 300,000,000
Par value of the issue	USD 200,000
Issue price	100% of par value
Place of offering and transaction	Singapore Exchange Securities Trading Limited
Conversion Price upon Issuance	NTD 358.87
Conversion period	October 24, 2024, up to July 13, 2029
Interest rate of issue coupon	0%
Interest rate	0.875% per annum (Calculated based on half a year)

Repayment method	The issuer shall redeem this bond at maturity in US dollars, with an interest of 0.875% per annum (Calculated based on half a year) added to the face value of the bond. The redemption amount at maturity is calculated by converting the total amount of the bonds issued in US dollars at the issuance date into New Taiwan dollars at the fixed exchange rate on that day (1 USD to 32.61 TWD), and then adding the interest calculated at the aforementioned rate in New Taiwan dollars. The total amount of the bonds and interest in New Taiwan dollars is then converted into US dollars at the fixed exchange rate on the maturity date, and the issuer pays the interest and redeems the bonds to the investors.
Underwriter	UBS AG Hong Kong Branch / Citigroup Global Markets Limited
Transfer agency	Citibank, N.A., London Branch
The capital utilization plan and its execution status	All funds raised by the company were used to purchase materials from overseas, and the fund implementation progress is 100%.
The converted number of shares	As of April 12, 2025, there have been no conversion executions

(6) Report on the completion of the company's and subsidiary's short-form merger.

In accordance with Article 7, Paragraph 2, and Article 19, Paragraph 1 of the Business Mergers and Acquisitions Act, has made a resolution for the merger and hereby reports on the short-form merger with Giga-byte Communications Co., Ltd. (hereinafter referred to as "Giga-byte Communications").
To integrate operations and adjust the group's organizational structure, the Company has acquired the 0.14% minority equity stake of Giga-byte Communications. through a cash consideration for the merger, which has no significant impact on the rights and interests of the Company's shareholders. After the merger, the Company will be the surviving entity, while Giga-byte Communications will be the dissolved entity and will cease to exist because of this merger. The surviving company will continue to operate under the name GIGABYTE Technology Co., Ltd. and will comprehensively assume all rights and obligations of Giga-byte Communications from the merger effective date.

(7) Other matters: None.

IV. Adoption

Proposal 1: Adoption of the 2024 Business Report and Financial Statements (proposed by the Board)

The 2024 financial statements have been audited and certified by the certified public accountant.
Please refer to Appendix 1, Appendix 3-1, and Appendix 3-2 for the 2024 Business Report, CPA Audit Report, and Financial Statements of this Company.
The 2024 Business Report, 2024 Financial Statements and profit distribution plan have been approved by the Board meeting and audited by the Audit Committee.
Please adopt.

GIGA-BYTE TECHNOLOGY CO., LTD.
PROFIT DISTRIBUTION TABLE
Year 2024
(Unit: NT$)

Items	Total
Beginning retained earnings	14,802,289,165
Add: 2024 Net profit before tax	10,738,576,747
Income tax expense	(950,036,501)
Net profit after tax	9,788,540,246
Other adjustments (see note)	24,524,644
Less: 10% legal reserve	(981,306,489)
Distributable net profit	23,634,047,566
Cash dividend to shareholders @ NT$10 (see note)	(6,698,888,860)
Unappropriated retained earnings	16,935,158,706

Note: 1. For current year’s surplus distribution, 2024 profit shall first be distributed.
2. Other adjustments: This year to determine the benefits of the benefit plan actuarial gains and losses to decrease NT$ 6,450,202.
3. Current distribution based on 635,688,886 shares (calculated based on number of outstanding shares as of April 14, 2024). Subsequently, if the number of shares outstanding is affected and the distribution ratio per share is changed due to the repurchase of shares of the Company, the transfer or cancellation of treasury shares, etc., it is proposed to authorize the Chairman to deal with it with full power.
4. Cash dividends will be distributed up to one dollar (rounded down values below NT$1). The odd amount will be combined to the Company’s non-operating income. The Board of Directors shall set the dividend (distribution) record date, distribution date and other related matters.

Resolution:

The voting results, with 94.47% of shareholders attended the AGM voting for the proposal, of this proposal are shown as follows. The proposal was approved accordingly.

Item	Voting rights represented by attended shareholders	Number of agree votes	Number of disagree votes	Number of invalid votes	Waiver/Not Voted
Number	438,985,823	414,720,139	66,947	0	24,198,737
Proportion	100%	94.47%	0.02%	0.00%	5.51%
Voting electronically		363,008,713	66,947		24,148,220

Question (Shareholder number 168877) :

It is recommended that the shareholders' meeting be held in New Taipei City or Taipei City.
What are the reasons for the investment losses in the U.S. subsidiary?
What is the company's hedging strategy for USD exchange rate fluctuations?
What is the reason for the merger with Giga Communication?
What are the company's future funding needs?
What new products are planned for development this year?
Does the company recycle metals after inventory is written off?

Response from the chairman:

As most employees work at the Taoyuan factory and some of them are also shareholders, the shareholders' meeting is held at a hotel in Taoyuan.
Investment in affiliated enterprises inevitably involves gains and losses.
The company adopts natural hedging to manage exchange rate fluctuations.
Giga Communication has ceased actual operations; its shares were written off through a merger to integrate group resources.
Due to the strong demand for AI, the company is proactively planning its finances to support future AI development.
The company increases its annual R&D investment and places great emphasis on product development.
The company values sustainability and environmental protection; its subsidiaries also carry out circular economy recycling and disposal.

V. Proposals and Discussions

Proposal 1: Amendment to the Company's "Articles of Incorporation" (proposed by the Board)

Explanation:

Cooperate with legal revisions and respond to the company's actual needs
Please refer to attachment 1 for a comparison of the Articles of Incorporation before and after revisions. Please discuss.

Revised Edition	Previous Edition	Description
Article 17 This Company shall have five to nine (7-11) authorized directors elected from by the meeting of shareholders among competent shareholders. The term of each role shall be three (3) years, and each role is eligible for a second term.	Article 17 This Company shall have five to nine (7-11) authorized directors elected from by the meeting of shareholders among competent shareholders. The term of each role shall be three (3) years, and each role is eligible for a second term.	Amended in accordance with the key points for the establishment and exercise

Revised Edition	Previous Edition	Description
At least three of these directors shall be independent directors and the number of seats shall at least be one-third of the board.

The ratio of shares held by all directors shall be subject to the regulations promulgated by securities competent authorities.

In a director election, each share has the same voting rights equal to the number of directors to be elected, and a shareholder may cast all his/her voting rights to one candidate or among several candidates (not more than the total number of candidates in the same election), and candidates receiving more voting rights shall be elected as directors.

Independent directors and non-independent directors shall be elected at the same election, with number of seats calculated separately.

Independent directors shall exercise their authority and follow codes according to relevant regulations promulgated by securities competent authorities. | At least three of these directors shall be independent directors and the number of seats shall at least be one fifth of the board.

The ratio of shares held by all directors shall be subject to the regulations promulgated by securities competent authorities.

Independent directors and non-independent directors shall be elected at the same election, with number of seats calculated separately.

Independent directors shall exercise their authority and follow codes according to relevant regulations promulgated by securities competent authorities. | of powers of the Board of Directors of a listed company. |
| Article 28: Dividend Policy

If there is a profit after the annual closing of books, the Company shall appropriate 3-10% as compensations for employees and not more than 3% as remuneration for directors. If there are accumulative deficits, the amount for covering the losses of previous years shall first be retained.

At least 20% of the employee compensation amount mentioned in the preceding paragraph shall be allocated for distributing compensation or adjusting salaries for junior-level employees.

The compensations for employees described above shall be distributed in either stock or cash, and the remuneration for directors shall be distributed in cash. Compensations shall be approved by over half of the directors at a board meeting attended by two-third of the board members. In addition, the compensations for employees and directors shall be reported to the meeting of shareholders.

Employees receiving the compensations for employees distributed in stock or cash shall include employees of affiliates meeting relevant requirements. The allocation criteria and method shall be determined by the Board of Directors.

This Company is in a highly competitive industry with a changeful environment, and the business life cycle has become mature. In consideration of the need for operating funds in the future and long-term financial planning, and to fulfill the demand for cash in-flow of shareholders, if there is a profit after the annual closing of books, the Company shall appropriate, the Company shall distribute the profit according to the following orders:

Cover the losses of previous years and pay the profit-seeking enterprise annual income tax. | Article 28 Dividend Policy

Employees receiving the compensations for employees distributed in stock or cash shall include employees of affiliates meeting relevant requirements. The Board of Directors shall determine the definition of affiliates, distribution requirements, and distribution methods.

Cover the losses of previous years and pay the profit-seeking enterprise annual income tax. | Handled in accordance with the amended provisions of Article 14, Paragraph 6 of the Securities and Exchange Act. |

Revised Edition	Previous Edition	Description
2. Appropriate 10% to the legal reserve (except when the amount of legal reserve has reached the total paid-in capital of the Company).
3. Appropriate or revert to special reserves according to the laws and regulations or the rules of competent authorities.
4. After deducting the amounts specified in Items 1 to 3, along with the accumulated undistributed earnings from the previous year, an allocation of 5% to 100% shall be proposed by the Board of Directors and distributed according to the following methods:
(1) When distributing earnings by issuing new shares, the distribution shall be carried out after approval by the shareholders' meeting.
(2) When distributing earnings in cash or from the statutory surplus reserve and additional paid-in capital in accordance with Article 241, Paragraph 1 of the Company Act, the distribution shall be approved by a resolution of the Board of Directors, with at least two-thirds of the directors present and a majority of the attending directors in favor. The decision shall be reported to the shareholders' meeting without requiring further approval.
Among the total shareholder dividends, the cash dividends shall not be less than 5%. However, if the cash dividend per share is less than 0.1 NTD, it will not be distributed in cash but instead issued as stock dividends.	the amount of legal reserve has reached the total paid-in capital of the Company).
3. Appropriate or revert to special reserves according to the laws and regulations or the rules of competent authorities.
4. After deducting the amount calculated under Item 1 to Item 3, together with 5% to 100 % of the accumulated undistributed surplus of the previous year, the Board shall, at the time of issue of the issuance of new shares, call upon the shareholders' meeting to authorize the Board to delegate to more than two-thirds directors and to attend the resolutions of more than half of the directors in accordance with the provisions of the Company Act, and shall assign dividends and dividends or all or part of the statutory surplus reserve and capital public funds provided for in Paragraph I of Article 241 of the Company Act, for the payment of cash, and report to the shareholders' meeting. The ratio of cash dividends for shareholders shall not be less than 5% of the total shareholder dividend. In addition, cash dividends less than NT$0.1 per share will only be distributed through stock dividends.
Article 31
This “Articles of Incorporation” was established on March 24, 1986.
1st amendment was made on September 1, 1986.
2nd amendment was made on August 30, 1988.
3rd amendment was made on March 20, 1989.
4th amendment was made on June 3, 1991.
5th amendment was made on July 2, 1995.
6th amendment was made on May 15, 1996.
7th amendment was made on January 27, 1997.
8th amendment was made on April 19, 1997.
9th amendment was made on March 25, 1998.
10th amendment was made on May 4, 2000.
11th amendment was made on May 11, 2001.
12th amendment was made on May 23, 2002.
13th amendment was made on June 17, 2003.
14th amendment was made on June 9, 2004.
15th amendment was made on June 9, 2005.
16th amendment was made on April 12, 2006.
17th amendment was made on June 13, 2008.
18th amendment was made on June 16, 2009.
19th amendment was made on June 17, 2010.
20th amendment was made on June 15, 2011.
21st amendment was made on June 18, 2012.
22nd amendment was made on June 11, 2014.
23rd amendment was made on June 17, 2015.	Added the date of the latest amendment.

Revised Edition	Previous Edition	Description
24th amendment was made on June 15, 2016.	24th amendment was made on June 15, 2016.
25th amendment was made on June 11, 2018.	25th amendment was made on June 11, 2018.
26th amendment was made on June 12, 2019.	26th amendment was made on June 12, 2019.
27th amendment was made on June 14, 2022.	27th amendment was made on June 14, 2022.
28th amendment was made on June 9, 2024.	28th amendment was made on June 9, 2024.
29th amendment was made on June 12, 2025.	29th amendment was made on June 12, 2025.
30th amendment was made on June 10, 2026.

Resolution:

The voting results, with 94.10% of shareholders attended the AGM voting for the proposal, of this proposal are shown as follows. The proposal was approved accordingly.

Item	Voting rights represented by attended shareholders	Number of agree votes	Number of disagree votes	Number of invalid votes	Waiver/Not Voted
Number	438,985,823	413,102,919	84,088	0	25,798,816
Proportion	100%	94.10%	0.02%	0%	5.88%
Voting electronically		361,391,493	84,088		25,748,299

Proposal 2: Authorizing the board of directors to handle the case of capital increase in cash and issuance of ordinary shares to participate in the issuance of overseas depository receipts. (proposed by the Board of Directors)

In order to raise the funds needed for the future development of the Company and to internationalize and diversify our fundraising methods, we propose to request the shareholders' meeting to authorize the board of directors to participate in the issuance of overseas depository receipts through capital increase in cash in accordance with the Company's Articles of Association or relevant laws and regulations and the following principles, based on market conditions and the Company's funding needs.

(1) This capital increase in cash involves the issuance of ordinary shares to participate in the issuance of overseas depository receipts, with a limit of no more than 50 million shares to be issued.

(2) The price of the ordinary shares issued for this capital increase in cash should take into account the current ordinary share market price, but the actual issuance price may be determined jointly with securities underwriter by referring to market conditions. The so-called "ordinary share market price at that time" refers to, in accordance with the customary practices of the issuing market and the agreement between the company and the underwriter, the closing price of ordinary shares on the overseas depository receipt pricing date, or the average closing price of the trading period prior to the overseas depository receipt pricing date.

(3) Except for retaining 10% of the total number of shares for the subscription by employees of the Company in accordance with Article 267 of the Company Act, a proposal to fully allocate the remaining 90% of the ordinary shares for public issuance in accordance with Article 28-1 of the Securities and Exchange Act will be made to the shareholders' meeting to serve as the original securities for participating in the issuance of overseas depositary receipts. All original shareholders waive their right of first refusal to subscribe. Employees who have not subscribed to the portion are authorized to have the Chairman negotiate with specific individuals to subscribe to them or include them in the original securities participating in the issuance of overseas depositary receipts.

Regarding the important contents of the capital increase in cash participating in the issuance of overseas depositary receipts plan including the issuance price, actual number of shares to be issued (the quota), issuance conditions, planned items, fundraising amount, timetable and expected benefits, and all other related issuance operations, the board of directors is authorized to adjust, set and handle them according to market conditions. In the future, if there are changes due to the approval of the competent authority, operating evaluation or objective environmental needs, the board of directors is fully authorized to handle them.
In line with the issuance of ordinary shares through capital increase in cash for participation in the issuance of overseas depositary receipts, the Chairman or his designated person is authorized to approve and sign all documents related to the participation in the issuance of overseas depositary receipts and handle related matters on behalf of the Company.
The upper limit of the proposed issuance of ordinary shares from capital increase in cash is 50 million shares, accounting for 7.46% of the current outstanding ordinary shares of the Company. This does not cause significant dilution of the original shareholder's equity and should not have a significant impact on the original shareholder's equity.
This case has been reviewed and approved by the 6th meeting of the Audit Committee of the 4rd term and the 8th meeting of the Board of Directors of the 14th term and will be submitted to the shareholders' meeting for review in accordance with the law.

Resolution: The voting results, with 94.32% of shareholders attended the AGM voting for the proposal, of this proposal are shown as follows. The proposal was approved accordingly.

Question (Shareholder number 16887) :

Will the capital increase through cash offering be completed in the second half of the year? How will the pricing be determined?

Response from the chairman:

Due to the strong demand for AI, the company will make advance preparations to meet funding needs and make adjustments as necessary based on actual requirements.

VI. Questions and Motions:

Question (Shareholder number 154616) :

In 2023, the company reduced its carbon emissions by 43.95%, leaving a 6% gap to reach the 50% reduction target set for 2025. What specific measures are currently being implemented to ensure that the carbon reduction target will be achieved?

The company has invested in a solar power plant in Miaoli, which is expected to begin operations by the end of this year or early next year.

VII. Meeting Adjournment: 09:43 a.m., June 10, 2025.

Appendices

Appendix 1

2024 Business Report

Dear shareholders,

The year 2024 has been a historic milestone for GIGABYTE Technology. With the rapid expansion of AI applications, the global demand for computing power has surged dramatically. Leveraging its comprehensive product portfolio spanning both cloud and on-premises solutions, GIGABYTE Group has delivered outstanding performance, achieving record-high revenue and exponential profit growth. The channel solutions business, which focuses on consumer products, has maintained steady development and profitability. Meanwhile, Giga Computing, which specializes in the server industry, has continued to enhance its solution design and development capabilities. This has not only deepened collaborations with existing clients but also successfully expanded its customer base to include a more diverse range of clients.

Despite the rapidly changing global landscape, the world economy continues to be affected by the tightening monetary policies of major countries. Rising investment costs have led to a slowdown in corporate investment. Additionally, geopolitical risks, climate change, and other factors have impacted the supply, demand, and pricing of energy and raw materials, further slowing the pace of global economic recovery. However, thanks to its outstanding business strategies, GIGABYTE Technology has maintained steady growth despite these challenges. For detailed financial and operational performance of GIGABYTE Group, please refer to the table below.

Unit: NTD/100 million

Item	2024	2023	Difference	Percentage of Difference(%)
Operating income	2,651.49	1,367.73	1,283.76	93.86
Gross profit	280.92	165.75	115.17	69.48
Net profit after tax	97.89	47.43	50.46	106.39
Item		2024	2023
---	---	---	---
Financial structure (%)	Debt to total assets (%)	50.51	53.82
	Long-term capital to property & equipment (%)	1,155.13	986.45
Solvency (%)	Current ratio (%)	271.22	211.20
	Quick ratio (%)	145.49	118.88
Profitability (%)	Return on assets (%)	11.55	6.65
	Return on equity (%)	23.13	12.95
	Profit margin (%)	4.06	3.50
	Basic EPS (NT$)	15.03	7.46

Throughout 2024, GIGABYTE remained focused on its core business areas, including motherboards, graphics cards, laptops, and servers, striving to deliver outstanding products. Below is a summary of GIGABYTE's business performance across its product lines in 2024:

Motherboard:

GIGABYTE's next-generation motherboards are designed to fully integrate AI intelligence, delivering exceptional performance. In an era of growing AI applications, GIGABYTE launched the new AMD X870E/X870 and Intel Z890 series motherboards, featuring D5 Bionic Corsa technology—an all-encompassing AI-optimized solution integrating software, hardware, and firmware. This includes AI Overclocking and AI-Assisted Design, utilizing innovative AI techniques to optimize hardware design and create a smarter, more powerful computing platform.

Understanding the needs of DIY enthusiasts, GIGABYTE incorporated multiple user-friendly installation features into the new generation of motherboards. Innovations such as M.2 EZ-Match, WIFI EZ-Plug, PCIe EZ-Latch Plus, and M.2 EZ-Latch showcase GIGABYTE's technical expertise and deep understanding of user demands. With AI technology enhancements, GIGABYTE has successfully pushed motherboard innovation to new heights, providing a solid foundation for the computing demands of the future.

Graphics card:

GIGABYTE's graphics card lineup focuses on delivering outstanding gaming experiences with superior performance and cooling solutions. To fully unleash the powerful AI computing potential of the upcoming NVIDIA GeForce RTX™ 50 series and AMD Radeon™ RX 9000 series GPUs in 2025, GIGABYTE has specially optimized its AORUS XTREME WATERFORCE liquid cooling and WINDFORCE air cooling solutions. These innovations ensure maximum performance and ultra-quiet operation.

GIGABYTE is committed to meeting the diverse needs of users—whether they are hardcore gamers, professional content creators, or AI developers, they can find the perfect graphics card solution within GIGABYTE's lineup.

Notebook computer:

GIGABYTE's laptop design prioritizes performance, portability, and user experience. The company offers a diverse range of models tailored to different user needs through its AORUS, AERO, and GIGABYTE series.

As we enter the golden era of generative AI, GIGABYTE upholds its commitment to high-performance computing, high-quality key components, cutting-edge display panels, and precision manufacturing. The company launched its in-house developed GiMATE AI Agent, marking a major step forward in real-world AI applications. This AI-powered innovation enhances user convenience while ensuring absolute privacy and security, further strengthening the competitive edge of GIGABYTE's laptop lineup in the market.

Server:

The demand for computing power in data centers is skyrocketing, leading to increasing energy consumption. Balancing AI advancements with environmental sustainability has become a crucial challenge in data center deployment.

With extensive expertise in server research and deployment, GIGABYTE provides a broad range of server solutions for AI, HPC, Cloud, and 5G applications. The company also offers advanced cooling solutions, including closed-loop liquid cooling and immersion cooling systems.

In 2024, GIGABYTE introduced GIGAPOD, a fully integrated rack-scale AI supercomputing solution tailored for AI training, HPC, and cloud applications. GIGAPOD delivers high-density GPU computing resources in a pre-integrated package, enabling mid-to-large enterprises to rapidly adopt AI capabilities. This solution helps clients maximize GPU computing power while maintaining energy efficiency, carbon reduction, and sustainable business growth.

2025 Business Outlook:

Looking ahead to 2025, GIGABYTE Group remains on a steady and optimistic growth trajectory. Upholding our commitment to continuous innovation, we will further strengthen our presence in existing product categories while expanding into broader business domains. We will continue to invest heavily in R&D to bring the latest technologies and comprehensive solutions to the market. Additionally, in response to changes in tariff policies, we will flexibly plan our production bases and promote localized assembly lines, ensuring faster and more efficient services for our global customers.

Beyond pursuing outstanding business performance, we remain dedicated to our vision: "Innovation and Technology for a Better Life." Our mission is to create a friendly and supportive work environment for employees, deliver innovative value to customers, and generate exceptional investment returns for shareholders. We sincerely appreciate the long-term support and trust of our shareholders in GIGABYTE Technology.

As AI applications rapidly evolve, we recognize that opportunities and challenges coexist in this dynamic era. With greater responsibilities and expectations ahead, GIGABYTE is committed to pushing the boundaries of innovation, growing alongside our shareholders and customers, and moving forward toward a future of excellence—together.

Wish You Health and Happiness.

Pei-Cheng Yeh
Chairman

Chairman: Pei-Cheng Yeh
CEO: E-Tay Lee, Yin-Yu Lin
CFO: Chun-Ying Chen

Appendix 2

Audit Committee Approval/Audit Report

This Audit Committee has approved the individual financial statements of the Company and the consolidated financial statements of the Group for fiscal year 2024 that have been passed by the Board of Directors. The CPA firm PwC Taiwan was then retained to audit such statements by CPAs Chun-Yuan Xiao and Se-Kai Lin and issued the "unqualified opinion" audit report. These statements have been reviewed and determined to be compliant with all relevant laws and regulations. In addition, this Audit Committee has audited the business report and profits distribution proposal of fiscal year 2024 passed by the Board of Directors and determined they have complied with relevant laws and regulations. This report is thus issued in accordance with Article 14-4 of the Securities and Exchange Act and Article 219 of the Company Act.

Annual Meeting of Shareholders of GIGA-BYTE TECHNOLOGY CO., LTD.

Hwei-Min Wang
Convener
Audit Committee
16 April, 2024

Appendix 3-1

INDEPENDENT AUDITORS' REPORT TRANSLATED FROM CHINESE

To the Board of Directors and Shareholders of Giga-Byte Technology Co., Ltd.

Opinion

We have audited the accompanying consolidated balance sheets of Giga-Byte Technology Co., Ltd. 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, 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. 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 judgement, 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:

Occurrence of revenue from significant new counterparties

Description

Please refer to Note 4(34) for accounting policies on operating revenue and Note 6(21) for details of operating revenue.

The Group has numerous customers and sales regions across the world, it is infrequent to have revenue generated from a single customer that exceeded 10% of the consolidated operating revenue. Given that the verification of the existence of the transaction counterparty is critical to the revenue recognition, the occurrence of revenue from significant new counterparties was identified as a key audit matter.

How our audit addressed the matter

Our key audit procedures performed in respect of the above included the following:

Interviewed with management and obtained an understanding of the revenue recognition policy, and the consistency of the policy application during the financial reporting periods.
Obtained an understanding and tested credit check procedures for significant new counterparties. Verified that the transactions with significant new counterparties have been properly approved and agreed with supporting documentation, which include searching transaction counterparty’s related information.
Obtained an understanding and tested the selling price and credit term of significant new counterparties.
Interviewed with management and obtained an understanding for the reason of accounts receivable overdue from significant new counterparties in order to evaluate the reasonableness.
Sampled and tested detailed revenue schedules of significant new counterparties and verified the original supporting documentation.
Sent accounts receivable confirmation letters to significant new counterparties. Investigated the reason and tested reconciling items made by the Group if the result in confirmation reply did not correspond to records, or tested collections after the balance sheet date if no confirmation reply was received.

Assessment of allowance for valuation of inventory loss

Description

Please refer to Note 4(14) for accounting policies on inventories, Note 5(2) for accounting estimates and assumption uncertainty and Note 6(5) for details of inventories.

The Group is primarily engaged in manufacturing and selling of computer hardware equipment and related components. Due to the short life cycle of electronic products and the price is highly subject to market fluctuation, the risk of incurring inventory valuation losses or having obsolete inventory are relatively high. Inventories held for sale in the ordinary course of business are stated at the lower of cost and net realisable value; Valuation loss are recognized for those inventories which exceed certain aging period or individually identified as obsolete inventories based on its net realisable value.

Given that the amount inventories is significant and that the individually identified net realizable value of obsolete inventories has uncertainty based on prior industry experience, the evaluation of the allowance for valuation loss was identified as a key audit matter.

How our audit addressed the matter

Our key audit procedures performed in respect of the above included the following:

Interviewed with management and obtained an understanding of the policy and process on evaluation of the allowance for valuation loss, and the consistency of the policy and process application during the financial reporting periods.
Obtained an understanding of the warehouse management procedures, reviewed annual physical inventory count plan and participated in the annual inventory count. Evaluated the effectiveness of management controls on identifying and managing obsolete inventories.
Tested the appropriateness of system logic in inventory aging report which management adopted for inventories valuation purpose, and verified that obsolete inventories which exceeded a certain aging period were included in the report.
Evaluated the reasonableness of obsolete or damaged inventory items which were identified by management, reviewed related supporting documentation, and compared to the results obtained from the observation of physical inventory count.
For inventories which exceeded a certain aging period of aging and individually identified as obsolete and damaged, discussed with management and obtained supporting documentation of the evaluation on net realisable value, and performed recalculation.

Other matter – Parent company only financial reports

We have audited and expressed an unmodified opinion with Other matter paragraph on the parent company only financial statements of Giga-Byte Technology Co., Ltd. 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 the 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 judgement and professional skepticism throughout the audit. We also:

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.
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.
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 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.
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.
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.

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 consolidated financial statements of the current period 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.

Hsiao, Chun-Yuan

Lin, Se-Kai

For and on behalf of PricewaterhouseCoopers, Taiwan

March 14, 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.

As the financial statements are the responsibility of the management, PricewaterhouseCoopers 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.

GIGA-BYTE TECHNOLOGY CO., LTD. AND SUBSIDIARIES
CONSOLIDATED BALANCE SHEETS
DECEMBER 31, 2024 AND 2023
(Expressed in thousands of New Taiwan dollars)

Assets	Notes	December 31, 2024		December 31, 2023
		AMOUNT	%	AMOUNT	%
Current assets
1100	Cash and cash equivalents	6(1)	$ 21,499,095	19	$ 23,166,075	28
1110	Financial assets at fair value through profit or loss-current	6(2)	724,931	1	451,810	1
1136	Financial assets at amortized cost-current	6(3)	1,337,084	1	753,336	1
1150	Notes receivable, net	6(4)	4,668	-	3,941	-
1170	Accounts receivable, net	6(4)	28,546,444	26	16,016,209	20
1200	Other receivables		1,792,160	2	738,720	1
130X	Inventories, net	6(5)	43,809,525	39	29,664,354	36
1410	Prepayments		2,763,060	2	2,011,553	2
1470	Other current assets		8,836	-	268,906	-
11XX	Total current assets		100,485,803	90	73,074,904	89
Non-current assets
1510	Financial assets at fair value through profit or loss-non-current	6(2)	147,679	-	75,000	-
1517	Financial assets at fair value through other comprehensive income-non-current	6(6)	1,605,274	2	1,906,413	3
1535	Financial assets at amortized cost-non-current	6(3) and 8	210,225	-	142,931	-
1550	Investments accounted for using equity method	6(7)	747,686	1	515,538	1
1600	Property, plant and equipment, net	6(8)	6,426,692	6	4,820,456	6
1755	Right-of-use assets	6(9)	224,285	-	189,132	-
1760	Investment property, net	6(11)	27,053	-	33,389	-
1780	Intangible assets		193,660	-	169,857	-
1840	Deferred income tax assets	6(28)	989,773	1	1,032,612	1
1900	Other non-current assets		228,778	-	190,188	-
15XX	Total non-current assets		10,801,105	10	9,075,516	11
1XXX	Total assets		$ 111,286,908	100	$ 82,150,420	100

(Continued)

GIGA-BYTE TECHNOLOGY CO., LTD. AND SUBSIDIARIES
CONSOLIDATED BALANCE SHEETS
DECEMBER 31, 2024 AND 2023
(Expressed in thousands of New Taiwan dollars)

Liabilities and Equity	Notes	December 31, 2024		December 31, 2023
		AMOUNT	%	AMOUNT	%
Current liabilities
2100	Short-term borrowings	6(12)	$ 2,000,000	2	$ -	-
2120	Financial liabilities at fair value through profit or loss-current	6(2)	2,216	-	-	-
2130	Contract liabilities-current	6(21)	4,534,401	4	4,355,872	5
2150	Notes payable		24,642	-	12,741	-
2170	Accounts payable		17,766,216	16	20,698,047	25
2200	Other payables	6(13)	9,393,787	8	7,145,576	9
2230	Current income tax liabilities		1,866,521	2	1,080,707	1
2250	Provisions for liabilities-current	6(14)	812,365	1	826,369	1
2280	Lease liabilities-current		88,975	-	79,509	-
2300	Other current liabilities		560,913	1	400,446	1
21XX	Total current liabilities		37,050,036	34	34,599,267	42
Non-current liabilities
2530	Bonds payable	6(15)	18,403,329	17	8,920,465	11
2570	Deferred income tax liabilities	6(28)	172,029	-	55,803	-
2580	Lease liabilities-non-current		107,686	-	79,963	-
2600	Other non-current liabilities	6(16)	473,237	-	560,761	1
25XX	Total non-current liabilities		19,156,281	17	9,616,992	12
2XXX	Total liabilities		56,206,317	51	44,216,259	54
Equity attributable to owners of the parent
	Capital stock	6(18)
3110	Common stock		6,698,889	6	6,356,889	8
	Capital surplus	6(19)
3200	Capital surplus		14,011,469	13	3,898,998	5
	Retained earnings	6(20)
3310	Legal reserve		7,480,218	7	7,006,565	9
3320	Special reserve		426,354	-	426,354	-
3350	Unappropriated retained earnings		24,615,353	22	19,535,057	24
	Other equity interest
3400	Other equity interest		450,866	-	248,947	-
31XX	Total equity attributable to owners of the parent		53,683,149	48	37,472,810	46
36XX	Non-controlling interests		1,397,442	1	461,351	-
3XXX	Total equity		55,080,591	49	37,934,161	46
3X2X	Total liabilities and equity		$ 111,286,908	100	$ 82,150,420	100

The accompanying notes are an integral part of these consolidated financial statements.

GIGA-BYTE TECHNOLOGY CO., LTD. AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME
YEARS ENDED DECEMBER 31, 2024 AND 2023
(Expressed in thousands of New Taiwan dollars, except for earnings per share)

	Items	Notes	Year ended December 31
			2024		2023
			AMOUNT	%	AMOUNT	%
4000	Operating revenue	6(21)	$ 265,148,779	100	$ 136,773,409	100
5000	Operating costs	6(5)(26)(27)	( 237,056,292 )	( 89 )	( 120,197,968 )	( 88 )
5900	Gross profit		28,092,487	11	16,575,441	12
	Operating expenses	6(26)(27)
6100	Selling expenses		( 7,121,523 )	( 3 )	( 5,874,500 )	( 4 )
6200	General and administrative expenses		( 3,965,519 )	( 1 )	( 2,970,764 )	( 2 )
6300	Research and development expenses		( 4,127,573 )	( 2 )	( 2,747,327 )	( 2 )
6450	Expected credit loss	6(26) and 12(2)	( 101,323 )	-	( 87,675 )	-
6000	Total operating expenses		( 15,315,938 )	( 6 )	( 11,680,266 )	( 8 )
6900	Operating profit		12,776,549	5	4,895,175	4
	Non-operating revenue and expenses
7100	Interest income	6(22)	645,171	-	422,575	-
7010	Other income	6(23)	986,200	-	814,781	1
7020	Other gains and losses	6(24)	( 301,715 )	-	62,781	-
7050	Finance costs	6(25)	( 518,268 )	-	( 84,097 )	-
7060	Share of profit (loss) of associates and joint ventures accounted for using the equity method	6(7)
			9,934	-	( 6,594 )	-
7000	Total non-operating revenue and expenses		821,322	-	1,209,446	1
7900	Profit before income tax		13,597,871	5	6,104,621	5
7950	Income tax expense	6(28)	( 2,842,723 )	( 1 )	( 1,323,536 )	( 1 )
8200	Profit for the year		$ 10,755,148	4	$ 4,781,085	4

(Continued)

Items	Notes	Year ended December 31
		2024		2023
		AMOUNT	%	AMOUNT	%
Other comprehensive income, net
Components of other comprehensive income (loss) that will not be reclassified to profit or loss
8311 Remeasurements of defined benefit plans	6(16)	$ 30,656	-	($ 8,063)	-
8316 Unrealised (loss) gain on valuation of investments in equity instruments measured at fair value through other comprehensive income	6(6)	( 302,775)	-	268,615	-
8349 Income tax related to components of other comprehensive income that will not be reclassified to profit or loss	6(28)	( 6,131)	-	1,613	-
8310 Components of other comprehensive (loss) income that will not be reclassified to profit or loss		( 278,250)	-	262,165	-
Components of other comprehensive income (loss) that will be reclassified to profit or loss
8361 Exchange differences arising from translation of foreign operations		504,562	-	( 142,070)	-
8360 Components of other comprehensive income (loss) that will be reclassified to profit or loss		504,562	-	( 142,070)	-
8300 Other comprehensive income, net		$ 226,312	-	$ 120,095	-
8500 Total comprehensive income for the year		$ 10,981,460	4	$ 4,901,180	4
Profit attributable to:
8610 Owners of the parent		$ 9,788,540	4	$ 4,742,979	4
8620 Non-controlling interest		966,608	-	38,106	-
Total		$ 10,755,148	4	$ 4,781,085	4
Comprehensive income attributable to:
8710 Owners of the parent		$ 10,014,984	4	$ 4,863,074	4
8720 Non-controlling interest		966,476	-	38,106	-
Total		$ 10,981,460	4	$ 4,901,180	4
9750 Basic earnings per share	6(29)	$	15.03	$	7.46
9850 Diluted earnings per share	6(29)	$	14.46	$	7.40

The accompanying notes are an integral part of these consolidated financial statements.

GIGA-BYTE TECHNOLOGY CO., LTD. AND SUBSIDIARIES

CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY

YEARS ENDED DECEMBER 31, 2024 AND 2023

(Expressed in thousands of New Taiwan dollars)

	Equity attributable to owners of the parent
		Retained earnings				Other equity interest			Non-controlling interests
		Capital stock-Common stock	Capital surplus	Legal reserve	Special reserve	Unappropriated retained earnings	Exchange differences arising from translation of foreign operations	Unrealised gain or loss on valuation of financial assets at fair value through other comprehensive income	Total	Non-controlling interests	Total equity
Year 2023
Balance at January 1, 2023		$ 6,356,889	$ 3,281,465	$ 6,346,126	$ 426,354	$ 19,400,238	($ 469,031)	$ 591,433	$ 35,933,474	$ 11,446	$ 35,944,920
Profit for the year		-	-	-	-	4,742,979	-	-	4,742,979	38,106	4,781,085
Other comprehensive (loss) income for the year		-	-	-	-	( 6,450 )	( 142,070 )	268,615	120,095	-	120,095
Total comprehensive income (loss)		-	-	-	-	4,736,529	( 142,070 )	268,615	4,863,074	38,106	4,901,180
Appropriations of 2022 earnings:	6(20)
Legal reserve		-	-	660,439	-	( 660,439 )	-	-	-	-	-
Cash dividends		-	-	-	-	( 3,941,271 )	-	-	( 3,941,271 )	-	( 3,941,271 )
Change in equity of associates accounted for using equity method	6(7)
Change in ownership interests in subsidiaries		-	( 392 )	-	-	-	-	-	( 392 )	-	( 392 )
Due to recognition of equity component of convertible bonds issued		-	167,801	-	-	-	-	-	167,801	411,799	579,600
Past due expired dividends		-	449,693	-	-	-	-	-	449,693	-	449,693
Balance at December 31, 2023		$ 6,356,889	$ 3,898,998	$ 7,006,565	$ 426,354	$ 19,535,057	($ 611,101)	$ 860,048	$ 37,472,810	$ 461,351	$ 37,934,161
Year 2024
Balance at January 1, 2024		$ 6,356,889	$ 3,898,998	$ 7,006,565	$ 426,354	$ 19,535,057	($ 611,101)	$ 860,048	$ 37,472,810	$ 461,351	$ 37,934,161
Profit for the year		-	-	-	-	9,788,540	-	-	9,788,540	966,608	10,755,148
Other comprehensive income (loss) for the year		-	-	-	-	24,525	504,694	( 302,775 )	226,444	( 132 )	226,312
Total comprehensive income (loss)		-	-	-	-	9,813,065	504,694	( 302,775 )	10,014,984	966,476	10,981,460
Appropriations of 2023 earnings:	6(20)
Legal reserve		-	-	473,653	-	( 473,653 )	-	-	-	-	-
Cash dividends		-	-	-	-	( 4,259,116 )	-	-	( 4,259,116 )	-	( 4,259,116 )
Cash capital increase – issuance of global depositary receipts	6(18)	342,000	9,478,164	-	-	-	-	-	9,820,164	-	9,820,164
Change in equity of associates accounted for using equity method	6(7)	-	12,260	-	-	-	-	-	12,260	1,254	13,514
Changes in ownership interests in subsidiaries	6(30)	-	94,792	-	-	-	-	-	94,792	48,313	143,105
Due to recognition of equity component of convertible bonds issued	6(15)	-	526,862	-	-	-	-	-	526,862	-	526,862
Past due expired dividends		-	393	-	-	-	-	-	393	-	393
Cash dividends paid from subsidiary to non-controlling interest		-	-	-	-	-	-	-	-	( 79,900 )	( 79,900 )
Change in non-controlling interests		-	-	-	-	-	-	-	-	( 52 )	( 52 )
Balance at December 31, 2024		$ 6,698,889	$ 14,011,469	$ 7,480,218	$ 426,354	$ 24,615,353	($ 106,407)	$ 557,273	$ 53,683,149	$ 1,397,442	$ 55,080,591

GIGA-BYTE TECHNOLOGY CO., LTD. AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF CASH FLOWS
YEARS ENDED DECEMBER 31, 2024 AND 2023
(Expressed in thousands of New Taiwan dollars)

	Year ended December 31
	Notes	2024	2023
CASH FLOWS FROM OPERATING ACTIVITIES
Profit before tax		$ 13,597,871	$ 6,104,621
Adjustments
Adjustments to reconcile profit (loss)
Depreciation	6(8)(9)(26)	647,439	660,033
Depreciation charge on investment property	6(11)	4,705	4,635
Amortization	6(26)	149,994	124,419
Gain from lease modification	6(9)(24)	( 11 )	( 80 )
Expected credit loss	6(26) and 12(2)	101,323	87,675
Gain on valuation of financial assets at fair value through profit or loss	6(24)
Share of (profit) loss of associates and joint ventures	6(7)	( 9,934 )	6,594
accounted for using equity method		6,664	6,350
Loss on disposal of property, plant and equipment	6(24)	645,171 )	( 422,575 )
Interest income	6(22)	518,268	84,097
Interest expense	6(25)	59,593 )	( 58,479 )
Dividends income	6(23)	112,865	387,840
Share-based payments	6(17)
Changes in operating assets and liabilities
Changes in operating assets
Financial assets and liabilities at fair value through profit or loss		( 252,722 )	17,985
Notes receivable		( 727 )	34
Accounts receivable		( 12,648,450 )	( 1,975,962 )
Other receivables		( 1,059,189 )	( 498,796 )
Inventories		( 14,145,171 )	( 7,887,109 )
Prepayments		( 751,507 )	( 1,051,108 )
Other current assets		260,070	( 4,255 )
Changes in operating liabilities
Contract liabilities		178,529	1,567,821
Notes payable		11,901	1,177
Accounts payable		( 2,931,831 )	6,713,163
Other payables		2,210,678	( 312,990 )
Provisions for liabilities		( 14,004 )	8,104
Other current liabilities		160,467	207,203
Other non-current liabilities		( 97,640 )	50,715
Cash (outflow) inflow generated from operations		( 14,746,038 )	3,702,882
Interest received		650,920	417,314
Dividend received		64,114	63,000
Interest paid		( 247,214 )	( 5,125 )
Income tax paid		( 1,903,975 )	( 1,913,214 )
Net cash flows (used in) from operating activities		( 16,182,193 )	2,264,857

GIGA-BYTE TECHNOLOGY CO., LTD. AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF CASH FLOWS
YEARS ENDED DECEMBER 31, 2024 AND 2023
(Expressed in thousands of New Taiwan dollars)

	Notes	Year ended December 31
		2024	2023
CASH FLOWS FROM INVESTING ACTIVITIES
Acquisition of financial assets at amortized cost		($ 969,986)	($ 1,809,386)
Proceeds from disposal of financial assets at amortized cost		318,944	1,791,294
Acquisition of investments accounted for using equity method	6(7)	( 210,000)	-
Acquisition of property, plant and equipment	6(31)	( 1,964,291)	( 416,736)
Proceeds from disposal of property, plant and equipment		5,223	7,499
Acquisition of intangible assets		( 173,434)	( 165,426)
Increase in refundable deposits		( 13,823)	( 26,957)
Decrease in refundable deposits		14,972	28,532
Increase in other non-current assets		( 84,210)	( 83,804)
Net cash flows used in investing activities		( 3,076,605)	( 674,984)
CASH FLOWS FROM FINANCING ACTIVITIES
Increase in short-term borrowings	6(32)	95,016,365	-
Decrease in short-term borrowings	6(32)	( 93,016,365)	-
Proceeds from issuing bonds	6(32)	9,738,672	9,291,186
Increase in guarantee deposits received	6(32)	325,483	9,610
Decrease in guarantee deposits received	6(32)	( 284,711)	( 1,466)
Payments of lease liabilities	6(32)	( 100,692)	( 94,352)
Cash dividends	6(20)	( 4,259,116)	( 3,941,271)
Cash dividends paid from subsidiary to non-controlling interest		( 79,900)	-
Cash capital increase – issuance of global depository receipts	6(18)	9,820,164	-
Exercise of employee share options	6(30)	30,240	191,760
Change in non-controlling interest		( 52)	-
Past due expired unpaid dividends for shareholders		393	431
Net cash flows from financing activities		17,190,481	5,455,898
Effects of change in exchange rates on foreign currency holdings		401,337	( 145,206)
Net (decrease) increase in cash and cash equivalents		( 1,666,980)	6,900,565
Cash and cash equivalents at beginning of year		23,166,075	16,265,510
Cash and cash equivalents at end of year		$ 21,499,095	$ 23,166,075

Appendix 3-2

INDEPENDENT AUDITORS' REPORT TRANSLATED FROM CHINESE

To the Board of Directors and Shareholders of Giga-Byte Technology Co., Ltd.

Opinion

We have audited the accompanying parent company only balance sheets of Giga-Byte Technology Co., Ltd. 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, the accompanying parent company only financial statements present fairly, in all material respects, the parent company only financial position of the Company as at December 31, 2024 and 2023, and its parent company only financial performance and its parent company only 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. 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 judgement, 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 matters for the Company’s 2024 parent company only financial statements are stated as follows:

Occurrence of revenue from significant new counterparties

Please refer to Note 4(31) for accounting policies on operating revenue and Note 6(17) for details of operating revenue.

The Company has numerous customers and sales regions across the world, it is infrequent to have revenue generated from a single customer that exceeded 10% of the consolidated operating revenue. Given that the verification of the existence of the transaction counterparty is critical to the revenue recognition, the occurrence of revenue from significant new counterparties was identified as a key audit matter.

Interviewed with management and obtained an understanding of the revenue recognition policy, and the consistency of the policy application during the financial reporting periods.
Obtained an understanding and tested credit check procedures for significant new counterparties. Verified that the transactions with significant new counterparties have been properly approved and agreed with supporting documentation, which include searching transaction counterparty’s related information.
Obtained an understanding and tested the selling price and credit term of significant new counterparties.
Interviewed with management and obtained an understanding for the reason of accounts receivable overdue from significant new counterparties in order to evaluate the reasonableness.
Sampled and tested detailed revenue schedules of significant new counterparties and verified the original supporting documentation.
Sent accounts receivable confirmation letters to significant new counterparties. Investigated the reason and tested reconciling items made by the Company if the result in confirmation reply did not correspond to records, or tested collections after the balance sheet date if no confirmation reply was received.

Assessment of allowance for valuation of inventory loss

Please refer to Note 4(12) for accounting policies on inventories, Note 5(2) for accounting estimates and assumption uncertainty and Note 6(4) for details of inventories.

The Company is primarily engaged in manufacturing and selling of computer hardware equipment and related components. Due to the short life cycle of electronic products and the price is highly subject to market fluctuation, the risk of incurring inventory valuation losses or having obsolete inventory are relatively high. Inventories held for sale in the ordinary course of business are stated at the lower of cost and net realizable value; Valuation loss are recognized for those inventories which exceed certain aging period or individually identified as obsolete inventories based on its net realizable value.

Given that the amount of inventories is significant and that the individually identified net realizable value of obsolete inventories has uncertainty based on prior industry experience, the evaluation of the allowance for valuation loss was identified as a key audit matter.

Interviewed with management and obtained an understanding of the policy and process on evaluation of the allowance for valuation loss, and the consistency of the policy and process application during the financial reporting periods.
Obtained an understanding of the warehouse management procedures, reviewed annual physical inventory count plan and participated in the annual inventory count. Evaluated the effectiveness of management controls on identifying and managing obsolete inventories.
Tested the appropriateness of system logic in inventory aging report which management adopted for inventories valuation purpose, and verified that obsolete inventories which exceeded a certain aging period were included in the report.
Evaluated the reasonableness of obsolete or damaged inventory items which were identified by management, reviewed related supporting documentation, and compared to the results obtained from the observation of physical inventory count.
For inventories which exceeded a certain aging period of aging and individually identified as obsolete and damaged, discussed with management and obtained supporting documentation of the evaluation on net realisable value, and performed recalculation.

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 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 judgement 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.

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 period 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.

Hsiao, Chun-Yuan
Lin, Se-Kai
For and on behalf of PricewaterhouseCoopers, Taiwan
March 14, 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.

GIGA-BYTE TECHNOLOGY CO., LTD.
PARENT COMPANY ONLY BALANCE SHEETS
DECEMBER 31, 2024 AND 2023
(Expressed in thousands of New Taiwan dollars)

Assets	Notes	December 31, 2024		December 31, 2023
		AMOUNT	%	AMOUNT	%
Current assets
1100	Cash and cash equivalents	6(1)	$ 10,208,550	10	$ 14,343,246	19
1110	Financial assets at fair value through profit or loss-current	6(2)	193,834	-	92,260	-
1150	Notes receivable, net	6(3)	2,029	-	2,029	-
1170	Accounts receivable, net	6(3)	16,648,935	17	7,028,151	9
1180	Accounts receivable-related parties, net	7	14,930,421	15	12,845,814	17
1200	Other receivables	7	19,047,000	19	7,136,061	10
130X	Inventories, net	6(4)	11,822,037	12	12,550,452	17
1410	Prepayments		300,525	1	558,865	1
1470	Other current assets		2,168	-	259,689	-
11XX	Total current assets		73,155,499	74	54,816,567	73
Non-current assets
1535	Financial assets at amortized cost- non-current	6(5) and 8	62,023	-	61,668	-
1550	Investments accounted for under equity method	6(6) and 7	22,404,541	22	16,280,734	22
1600	Property, plant and equipment, net	6(7)	2,675,624	3	2,665,997	4
1755	Right-of-use assets	6(8)	49,200	-	68,592	-
1780	Intangible assets		160,273	-	143,981	-
1840	Deferred income tax assets	6(24)	596,638	1	803,617	1
1900	Other non-current assets		120,284	-	74,342	-
15XX	Total non-current assets		26,068,583	26	20,098,931	27
1XXX	Total assets		$ 99,224,082	100	$ 74,915,498	100

GIGA-BYTE TECHNOLOGY CO., LTD.
PARENT COMPANY ONLY BALANCE SHEETS
DECEMBER 31, 2024 AND 2023
(Expressed in thousands of New Taiwan dollars)

Liabilities and Equity	Notes	December 31, 2024		December 31, 2023
		AMOUNT	%	AMOUNT	%
Current liabilities
2120	Financial liabilities at fair value	6(2)
	through profit or loss-current		$ 2,216	-	$ -	-
2130	Contract liabilities-current	6(17)	514,938	1	357,023	1
2150	Notes payable		10,785	-	9,340	-
2170	Accounts payable		10,449,886	11	14,384,920	19
2180	Accounts payable-related parties	7	4,122,937	4	2,926,105	4
2200	Other payables	6(10) and 7	10,224,406	10	8,600,176	11
2230	Current income tax liabilities		149,001	-	588,144	1
2250	Provisions for liabilities-current	6(11)	560,139	1	741,833	1
2280	Lease liabilities-current		31,174	-	38,505	-
2300	Other current liabilities		444,223	-	336,133	-
21XX	Total current liabilities		26,509,705	27	27,982,179	37
Non-current liabilities
2530	Bonds payable	6(12)	18,403,329	19	8,920,465	12
2570	Deferred income tax liabilities	6(24)	172,029	-	-	-
2580	Lease liabilities-non-current		18,608	-	30,554	-
2600	Other non-current liabilities	6(13)	437,262	-	509,490	1
25XX	Total non-current liabilities		19,031,228	19	9,460,509	13
2XXX	Total liabilities		45,540,933	46	37,442,688	50
Equity
	Capital stock	6(14)
3110	Common stock		6,698,889	7	6,356,889	9
	Capital surplus	6(15)
3200	Capital surplus		14,011,469	14	3,898,998	5
	Retained earnings	6(16)
3310	Legal reserve		7,480,218	7	7,006,565	9
3320	Special reserve		426,354	-	426,354	1
3350	Unappropriated retained earnings		24,615,353	25	19,535,057	26
	Other equity interest
3400	Other equity interest		450,866	1	248,947	-
3XXX	Total equity		53,683,149	54	37,472,810	50
3X2X	Total liabilities and equity		$ 99,224,082	100	$ 74,915,498	100

The accompanying notes are an integral part of these parent company only financial statements.

GIGA-BYTE TECHNOLOGY CO., LTD.
PARENT COMPANY ONLY STATEMENTS OF COMPREHENSIVE INCOME
YEARS ENDED DECEMBER 31, 2024 AND 2023
(Expressed in thousands of New Taiwan dollars, except for earnings per share)

	Items	Notes	2024		2023
			AMOUNT	%	AMOUNT	%
4000	Operating revenue	6(17) and 7	$ 137,034,821	100	$ 90,149,617	100
5000	Operating costs	6(4)(22)(23) and 7	( 126,959,846)	( 93)	( 83,070,339)	( 92)
5900	Gross profit		10,074,975	7	7,079,278	8
	Operating expenses	6(22)(23) and 7
6100	Selling expenses		( 3,496,886)	( 3)	( 2,966,345)	( 3)
6200	General and administrative expenses		( 2,015,854)	( 1)	( 1,494,070)	( 2)
6300	Research and development expenses		( 1,491,326)	( 1)	( 1,317,146)	( 1)
6450	Expected credit (losses) gains	6(22) and 12(2)	( 167,766)	-	61,204	-
6000	Total operating expenses		( 7,171,832)	( 5)	( 5,716,357)	( 6)
6900	Operating profit		2,903,143	2	1,362,921	2
	Non-operating revenue and expenses
7100	Interest income	6(18)	371,775	-	244,116	-
7010	Other income	6(19) and 7	986,296	1	791,524	1
7020	Other gains and losses	6(20)	831,943	1	101,795	-
7050	Finance costs	6(21)	( 379,966)	-	( 80,139)	-
7070	Share of profit of subsidiaries, associates and joint ventures accounted for under the equity method	6(6)
			6,025,385	4	2,831,992	3
7000	Total non-operating revenue and expenses		7,835,433	6	3,889,288	4
7900	Profit before income tax		10,738,576	8	5,252,209	6
7950	Income tax expense	6(24)	( 950,036)	( 1)	( 509,230)	( 1)
8200	Profit for the year		$ 9,788,540	7	$ 4,742,979	5
	Other comprehensive income, net
	Components of other comprehensive income (loss) that will not be reclassified to profit or loss
8311	Remeasurements of defined benefit plans	6(13)	$ 30,656	-	($ 8,063)	-
8330	Share of other comprehensive (loss) income of subsidiaries, associates and joint ventures accounted for using equity method, components of other comprehensive income that will not be reclassified to profit or loss		( 302,775)	-	268,615	-
8349	Income tax related to components of other comprehensive income that will not be reclassified to profit or loss	6(24)
8310	Components of other comprehensive (loss) income that will not be reclassified to profit or loss		( 6,131)	-	1,613	-
	Components of other comprehensive income (loss) that will be reclassified to profit or loss		( 278,250)	-	262,165	-
	Components of other comprehensive income (loss) that will be reclassified to profit or loss
8361	Exchange differences arising from translation of foreign operations		504,694	-	( 142,070)	-
8360	Components of other comprehensive income (loss) that will be reclassified to profit or loss		504,694	-	( 142,070)	-
8300	Other comprehensive income, net		$ 226,444	-	$ 120,095	-
8500	Total comprehensive income for the year		$ 10,014,984	7	$ 4,863,074	5
9750	Basic earnings per share	6(25)	$ 15.03	$	$ 7.46
9850	Diluted earnings per share	6(25)	$ 14.46	$	$ 7.40

The accompanying notes are an integral part of these parent company only financial statements.

GIGA-BYTE TECHNOLOGY CO., LTD.
PARENT COMPANY ONLY STATEMENTS OF CHANGES IN EQUITY
YEARS ENDED DECEMBER 31, 2024 AND 2023
(Expressed in thousands of New Taiwan dollars)

	Notes	Capital stock - common stock	Capital surplus	Retained Earnings			Other equity interest		Total equity
				Legal reserve	Special reserve	Unappropriated retained earnings	Exchange differences arising from translation of foreign operations	Unrealised gain or loss on valuation of financial assets at fair value through other comprehensive income
Year 2023
Balance at January 1, 2023		$ 6,356,889	$ 3,281,465	$ 6,346,126	$ 426,354	$ 19,400,238	($ 469,031)	$ 591,433	$ 35,933,474
Profit for the year		-	-	-	-	4,742,979	-	-	4,742,979
Other comprehensive (loss) income for the year		-	-	-	-	( 6,450 )	( 142,070 )	268,615	120,095
Total comprehensive income (loss)		-	-	-	-	4,736,529	( 142,070 )	268,615	4,863,074
Appropriations of 2022 earnings:	6(16)
Legal reserve		-	-	660,439	-	( 660,439 )	-	-	-
Cash dividends		-	-	-	-	( 3,941,271 )	-	-	( 3,941,271 )
Changes in equity of associates accounted for using equity method		-	( 392 )	-	-	-	-	-	( 392 )
Changes in ownerships interests in subsidiaries	6(6)	-	167,801	-	-	-	-	-	167,801
Due to recognition of equity component of convertible bonds issued	6(12)	-	449,693	-	-	-	-	-	449,693
Past due expired dividends		-	431	-	-	-	-	-	431
Balance at December 31, 2023		$ 6,356,889	$ 3,898,998	$ 7,006,565	$ 426,354	$ 19,535,057	($ 611,101 )	$ 860,048	$ 37,472,810
Year 2024
Balance at January 1, 2024		$ 6,356,889	$ 3,898,998	$ 7,006,565	$ 426,354	$ 19,535,057	($ 611,101 )	$ 860,048	$ 37,472,810
Profit for the year		-	-	-	-	9,788,540	-	-	9,788,540
Other comprehensive income (loss) for the year		-	-	-	-	24,525	504,694	( 302,775 )	226,444
Total comprehensive income (loss)		-	-	-	-	9,813,065	504,694	( 302,775 )	10,014,984
Appropriations of 2023 earnings:	6(16)
Legal reserve		-	-	473,653	-	( 473,653 )	-	-	-
Cash dividends		-	-	-	-	( 4,259,116 )	-	-	( 4,259,116 )
Cash capital increase - issuance of global depository receipts		342,000	9,478,164	-	-	-	-	-	9,820,164
Changes in equity of associates accounted for using equity method		-	12,260	-	-	-	-	-	12,260
Changes in ownerships interests in subsidiaries		-	94,792	-	-	-	-	-	94,792
Due to recognition of equity component of convertible bonds issued	6(12)	-	526,862	-	-	-	-	-	526,862
Past due expired dividends		-	393	-	-	-	-	-	393
Balance at December 31, 2024		$ 6,698,889	$ 14,011,469	$ 7,480,218	$ 426,354	$ 24,615,353	($ 106,407 )	$ 557,273	$ 53,683,149

GIGA-BYTE TECHNOLOGY CO., LTD.
PARENT COMPANY ONLY STATEMENTS OF CASH FLOWS
YEARS ENDED DECEMBER 31, 2024 AND 2023
(Expressed in thousands of New Taiwan dollars)

	Year ended December 31
	Notes	2024	2023
CASH FLOWS FROM OPERATING ACTIVITIES
Profit before tax		$ 10,738,576	$ 5,252,209
Adjustments
Adjustments to reconcile profit (loss)
Depreciation	6(7)(8)(22)	277,336	304,899
Amortization	6(22)	126,778	110,633
Gain from lease modification	6(8)(20)	( 11 )	( 80 )
Expected credit (losses) gains	6(22) and 12(2)	167,766	( 61,204 )
Gain on valuation of financial assets at fair value through profit or loss	6(20)
Share of profit of subsidiaries, associates and joint ventures accounted for using the equity method	6(6)	( 7,145 )	( 22,578 )
Loss disposal of property, plant and equipment	6(20)	-	26
Interest income	6(18)	( 371,775 )	( 244,116 )
Interest expense	6(21)	379,966	80,139
Employee compensation		45,145	147,743
Changes in operating assets and liabilities
Changes in operating assets
Financial assets and liabilities at fair value through profit or loss		( 92,213 )	203,101
Notes receivable		-	756
Accounts receivable		( 11,873,157 )	1,337,054
Other receivables		( 11,916,688 )	( 6,980,107 )
Inventories		728,415	3,171,146
Prepayments		294,620	( 279,126 )
Other current assets		257,521	( 1,232 )
Changes in operating liabilities
Contract liabilities		157,915	13,449
Notes payable		1,445	( 2,101 )
Accounts payable		( 2,738,202 )	( 1,171,340 )
Other payables		1,586,648	2,791,687
Provisions for liabilities		( 181,694 )	( 24,472 )
Other current liabilities		108,090	234,308
Other non-current liabilities		( 53,827 )	( 59,445 )
Cash (outflow) inflow generated from operations		( 18,389,876 )	1,969,357
Interest received		377,524	238,855
Dividends received		501,591	38,002
Interest paid		( 108,912 )	( 1,167 )
Income tax paid		( 1,016,301 )	( 1,451,516 )
Net cash flows (used in) from operating activities		( 18,635,974 )	793,531

GIGA-BYTE TECHNOLOGY CO., LTD.
PARENT COMPANY ONLY STATEMENTS OF CASH FLOWS
YEARS ENDED DECEMBER 31, 2024 AND 2023
(Expressed in thousands of New Taiwan dollars)

	Notes	Year ended December 31
		2024	2023
CASH FLOWS FROM INVESTING ACTIVITIES
Acquisition of financial assets at amortized cost		($ 62,023)	($ 1,112,104)
Proceeds from disposal of financial assets at amortized cost		61,668	1,212,336
Acquisition of investments accounted for using equity method	6(6) and 7
Acquisition of property, plant and equipment	6(27)	( 372,652)	( 536,000)
Proceeds from disposal of property, plant and equipment		4,225	2,159
Acquisition of intangible assets		( 143,070)	( 138,810)
Increase in refundable deposits		( 6,284)	( 16,015)
Decrease in refundable deposits		6,966	6,619
Reorganization-cash reduction due to spin-off	6(26)	-	( 1,990,657)
Reorganization-cash inflow due to merger		221	-
Increase in other non-current assets		( 63,682)	( 34,690)
Net cash flows used in investing activities		( 768,803)	( 2,790,585)
CASH FLOWS FROM FINANCING ACTIVITIES
Increase in short-term borrowings		57,716,365	-
Decrease in short-term borrowings		( 57,716,365)	-
Proceeds from issuing bonds	6(28)	9,738,672	9,291,186
Increase in guarantee deposits received	6(28)	296,686	8,785
Decrease in guarantee deposits received	6(28)	( 284,430)	( 972)
Payments on lease liabilities	6(28)	( 42,288)	( 38,892)
Cash dividends	6(16)	( 4,259,116)	( 3,941,271)
Cash capital increase - issuance of global depository receipts	6(14)	9,820,164	-
Past due expired unpaid dividends for shareholders		393	431
Net cash flows from financing activities		15,270,081	5,319,267
Net (decrease) increase in cash and cash equivalents		( 4,134,696)	3,322,213
Cash and cash equivalents at beginning of year		14,343,246	11,021,033
Cash and cash equivalents at end of year		$ 10,208,550	$ 14,343,246

AI assistant

GIGABYTE AGM Information 2026

52041_rns_2026-05-19_fa912cf4-815a-4ec4-a9a9-725e3bb4160c.pdf

GIGA-BYTE TECHNOLOGY CO., LTD.

(4) Report on 2024 surplus distribution in the form of cash dividend distribution in cash

(5) Report on the reasons for issuing the corporate bond and related matters

V. Proposals and Discussions

Proposal 1: Amendment to the Company's "Articles of Incorporation" (proposed by the Board)

Explanation:

Appendices

Appendix 1

INDEPENDENT AUDITORS' REPORT TRANSLATED FROM CHINESE

Opinion

Basis for opinion

Key audit matters

Occurrence of revenue from significant new counterparties

Description

How our audit addressed the matter

Assessment of allowance for valuation of inventory loss

Description

How our audit addressed the matter

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

GIGA-BYTE TECHNOLOGY CO., LTD. AND SUBSIDIARIES

CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY

YEARS ENDED DECEMBER 31, 2024 AND 2023

INDEPENDENT AUDITORS' REPORT TRANSLATED FROM CHINESE

Opinion

Basis for opinion

Key audit matters

Occurrence of revenue from significant new counterparties

Assessment of allowance for valuation of inventory loss

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

AI assistant

GIGABYTE — AGM Information 2026

52041_rns_2026-05-19_fa912cf4-815a-4ec4-a9a9-725e3bb4160c.pdf

GIGA-BYTE TECHNOLOGY CO., LTD.

(4) Report on 2024 surplus distribution in the form of cash dividend distribution in cash

(5) Report on the reasons for issuing the corporate bond and related matters

V. Proposals and Discussions

Proposal 1: Amendment to the Company's "Articles of Incorporation" (proposed by the Board)

Explanation:

Appendices

Appendix 1

INDEPENDENT AUDITORS' REPORT TRANSLATED FROM CHINESE

Opinion

Basis for opinion

Key audit matters

Occurrence of revenue from significant new counterparties

Description

How our audit addressed the matter

Assessment of allowance for valuation of inventory loss

Description

How our audit addressed the matter

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

GIGA-BYTE TECHNOLOGY CO., LTD. AND SUBSIDIARIES

CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY

YEARS ENDED DECEMBER 31, 2024 AND 2023

INDEPENDENT AUDITORS' REPORT TRANSLATED FROM CHINESE

Opinion

Basis for opinion

Key audit matters

Occurrence of revenue from significant new counterparties

Assessment of allowance for valuation of inventory loss

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

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GIGABYTE AGM Information 2026