Macronix — Earnings Release 2021

Apr 26, 2022

Macronix International Co., Ltd. Fourth Quarter 2021 Results January 25, 2022

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Safe Harbor Statement

The presentation and discussion contain certain forward-looking statements with respect to the results of operation, financial condition and current expectation. The forward-looking statements are subject to known and unknown uncertainties and risks that could cause actual results to differ materially from those expressed or implied by such statements.

Such risks and uncertainties include but are not limited to the impact of competitive products and pricing, timely design acceptance by our customers, timely introduction of new technologies, ability to ramp new products into volume, industry wide shifts in supply and demand for semiconductor products, industry overcapacity, availability of manufacturing capacity, financial stability in end markets, and other risks.

The forward-looking statements in this release reflect the current belief of Macronix as of the date of this release and Macronix undertakes no obligation to update these forward-looking statements for events or circumstances that occur subsequent to such date.

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Copyright © Macronix International Co., Ltd. 1
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A enda g

Welcome

Welcome C.Y. Lu 4Q21 Financial Results Paul Yeh Business Update C.Y. Lu Remarks and Q&A C.Y. Lu

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4Q21 Solid Results with Significant Margins Expansions

4Q21 3Q21 4Q20 Unaudited Reviewed Audited

Revenue NT$ 14.5 (billion NT$)

NT$15.0 NT$ 10.2

Gross 47.2% margin %

42.9% Pro Forma* 44.1%

32.4%

Operating 28.1% margin %

23.4.% Pro Forma* 26.2%

14.1%

Pro Forma – financial restatement, excluding the effects of one-time events Excluding all effects of disposal of 6” fab

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FY21 Financial Hi hli hts g g

2021 2021 2020 Unaudited Pro Forma* Audited Revenue NT$ 50.6 NT$ 50.6 NT$ 39.8 (billion NT$) Gross 41.6% 42.0% 33.7% margin % Operating

21.9% 22.7% 14.7% margin %

Pro Forma – financial restatement, excluding the effects of one-time events Excluding all effects of disposal of 6” fab

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A enda g

Welcome

Welcome C.Y. Lu 4Q21 Financial Results Paul Yeh Business Update C.Y. Lu Remarks and Q&A C.Y. Lu

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Solid Financials Results

Unit：NTD Million (except EPS) Net Sales Gross Profit Gross Margin% Operating Expenses Operating Income Operating Margin% Net Non-Operating Income (Loss) Income Before Taxes Income Taxes Expense Net Income Basic EPS (NT$) EBITDA EBITDA % Weighted avg outstanding million shares	4Q21 Unaudited 3Q21 Reviewed 4Q20 Audited	QoQ Change YoY Change (3%) 43% 7% 109% 4.3ppt 14.8ppt (5%) 50% 17% 185% 4.7ppt 14.0ppt (34%) 199% (32%) 219%
	14,545 14,974 10,158 6,863 6,421 3,287 47.2% 42.9% 32.4% (2,769) (2,924) (1,850) 4,094 3,497 1,437 28.1% 23.4% 14.1% (53) 2,625 (84) 4,041 6,122 1,353 (349) (693) (197) 3,692 5,430 1,156
	2.00 2.94 0.63 5,200 7,263 2,431 36% 49% 24% 1,848 1,844 1,843

*Excluding all effects of disposal of 6” fab

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FY21 Revs. U 27% with 790 B s Mar in Ex ansion p y/y p g p

Unit：NTD Million (except EPS) 2021 Unaudited 2021 Pro Forma* 2020 Audited Net Sales 50,573 50,573 39,801 Gross Profit 21,050 21,237 13,409 Gross Margin% 41.6% 42.0% 33.7% Operating Expenses (9,986) (9,747) (7,543) Operating Income 11,064 11,490 5,866 Operating Margin% 21.9% 22.7% 14.7% Net Non-Operating Income (Loss) 2,264 (242) (25) Income Before Taxes 13,328 11,248 5,841 Income Taxes Expense (1,364) (1,179) (515) Net Income 11,963 10,069 5,326 Basic EPS (NT$) 6.48 5.46 2.90 EBITDA 17,848 15,769 9,834 EBITDA % 35% 31% 25% Weighted avg outstanding million sha 1,845 1,845 1,839	2021 Unaudited 2021 Pro Forma* 2020 Audited	Unaudited YoY Change 27% 57% 7.9ppt 32% 89% 7.2ppt 128% 125%
	50,573 50,573 39,801 21,050 21,237 13,409 41.6% 42.0% 33.7% (9,986) (9,747) (7,543) 11,064 11,490 5,866 21.9% 22.7% 14.7% 2,264 (242) (25) 13,328 11,248 5,841 (1,364) (1,179) (515) 11,963 10,069 5,326

*Excluding all effects of disposal of 6” fab

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Sustainable Sales and Mar in Growths g

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2018 2019 2020 2021
Sales
NTD M 36,953M 34,995M 39,801M 50,573M Margin%
16,000 80%
14,974
14,545
11,906
12,000 11,426 60%
10,957
10,030 10,158
9,581 9,415 9,271 9,627
9,061 8,880 8,981
47%
8,000 45% 7,479 40%
43%
42%
6,029 39%
36%
35% 35%
34%
32%
31%
30%
28%
27%
4,000 25% 26% 20%
0 0%
1Q18 2Q 3Q 4Q 1Q19 2Q 3Q 4Q 1Q20 2Q 3Q 4Q 1Q21 2Q 3Q 4Q
Net Sales Gross Margin%
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Risin Cor orate Value g p

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4Q21 4Q20
Basic EPS -- NT$ 2.00 0.63
Book Value -- NT$ 25.20 19.52
Basic EPS Book Value
6.48
NTD NTD
2.94 26.0 25.20
3.0 2.90
23.21
2.00
2.0 1.92 21.20
21.0
19.52 [20.18 ]
1.04 18.71
1.0 18.07 17.78
0.67 [0.72 ] [0.88 ] 0.63
0.50
16.0
0.0
1Q20 2Q 3Q 4Q 1Q21 2Q 3Q 4Q
1Q20 2Q 3Q 4Q 1Q21 2Q 3Q 4Q
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Improving ROE (GAAP)

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40% 40%
Annualized ROE - Reported
Net Income / Sales
32%
29%
30%
26% 24% 24%
20% 16% 20% 16%
13%
9% 9%
10%
0% 0%
2017 2018 2019 2020 2021 ~ 2017 2018 2019 2020 2021
100% Sales / Total Assets 200% Total Assets / Total Equity
86%
187%
186%
184% 184%
72%
71%
75% 180%
63% 171%
58%
50% 160%
2017 2018 2019 2020 2021 2017 2018 2019 2020 2021
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200% Total Assets / Total Equity
187%
186%
184% 184%
180%
171%
160%
2017 2018 2019 2020 2021
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Improving ROE (non GAAP)

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40% Annualized ROE – Pro Forma 40% Net Income / Sales
27% 27%
30%
26%
20%
19%
17%
20% 20% 16%
13%
10%
9%
10%
0% 0%
2017 2018 2019 2020 2021 ~ 2017 2018 2019 2020 2021
100% Sales / Total Assets 210% Total Assets / Total Equity
86% 199%
194%
74% 190%
73%
75% 190% 186%
183%
65%
60%
50% 170%
2017 2018 2019 2020 2021 2017 2018 2019 2020 2021
Pro Forma - excluding all effects of IP litigation and disposal of 6” fab
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Stron Balance Sheet with a Health Debt Ratio g y

Unit: NTD Million (except BV)	12/31/'21 Unaudited	09/30/'21 Reviewed	12/31/'20 Audited
Cash	18,565	15,152	11,879
Inventory(Net)	13,156	13,313	12,945
Property, Plant and Equipment	32,218	31,320	31,463
Total Assets	76,708	73,694	65,892
Interest bearing debt - short term	3,095	4,706	5,412
Interest bearing debt - long term	9,250	6,707	10,737
Total Liabilities	29,983	30,662	29,698
Debt Ratio (%)	39.1%	41.6%	45.1%
Shareholders' Equity	46,725	43,032	36,194
Book Value -- NT$	25.20	23.21	19.52

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Growin FcF g

owing FcF
Unit: NTD Million 4Q21 Unaudited 3Q21 Reviewed 4Q20 Audited	2021 Unaudited 2020 Audited
Cash Flow from Operating 7,043 4,217 4,238	16,116 9,855
Depreciation & Amortization 1,106 1,086 1,011	4,284 3,746
Cash Flow from Investing (2,211) 636 (1,754)	(2,623) (6,043)
Capital Expenditures (2,542) (1,198) (1,760)	(4,790) (6,080)
Cash Flow from Financing (1,275) (1,521) 1,636	(6,262) (579)
Net Change 3,413 3,356 4,081 EndingBalance 18,565 15,152 11,879 Free Cash Flow* 4,501 3,019 2,478	6,686 3,154
	18,565 11,879
	11,326 3,775

*Net change includes the effect of exchange rate changes

**Free Cash Flow=Cash Flow from Operating - Capital Expenditures

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Quarterly Sales Breakdown by Products (Parent Company)

Unit: NTD Million

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16,000
15% 14%
12,000
9%
52% 52% QoQ YoY
Change Change
8,000
37%
NAND -11% +125%
NOR -2% +100%
ROM -2% -11%
4,000
45% FBG +7% +1%
28%
28%
FBG (foundry business group)
9% 5% 6%
0
4Q20 3Q21 4Q21
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Annual Sales Breakdown b Products Parent Com an y ( p y)

Unit: NT$ Million

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50,000
14%
40,000
10%
2020 2021
YoY YoY
10%
30,000 52% Chang Chang
42% NAND +9% +80%
44%
NOR +7% +57%
20,000
ROM +20% -15%
FBG +27% +25%
41% 27%
10,000
39%
FBG (foundry business group)
7% 7% 7%
0
2019 2020 2021
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A enda g

Welcome C.Y. Lu 4Q21 Financial Results Paul Yeh Business Update C.Y. Lu Remarks and Q&A C.Y. Lu

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Business u date - ROM p

 ROM business

• 4Q21 density shipments up 3% q/q despite the typical season low

500

250

Density shipment index: 1Q17 =100 421

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314
296 [305 ]
285
276
269
224
214 217
198
189
165
153
136
121
100
81 77
45
1Q17 2Q 3Q 4Q 1Q18 2Q 3Q 4Q 1Q19 2Q 3Q 4Q 1Q20 2Q 3Q 4Q 21Q1 2Q 3Q 4Q
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0

Business u date - NOR p

 NOR business

• 4Q21 density shipments continued to remain high, +55% y/y and -7% q/q

• 55nm continued to expand the penetration, + 55% y/y and +7% q/q, representing 58% of density shipment in 4Q21

• ASP hike continued, mainly on strong demand from target markets

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200
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100
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Density shipment index: 1Q17 =100 ≧75 nm
55 nm
197
183
165
155
132
123 124 121 118
[109] 107
100 [106][ 113]
94
89
84 80
79 78
1Q17 2Q 3Q 4Q 1Q18 2Q 3Q 4Q 1Q19 2Q 3Q 4Q 1Q20 2Q 3Q 4Q 1Q21 2Q 3Q 4Q
Macronix International Co., Ltd. 18
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0

Business u date – NOR breakdown Parent Com an p ( p y)

 NOR business

• Continued to focus on developing high quality and high density products

NTD %

NOR breakdown by density

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14%
22%
31%
36% 35%
42% 40% 41% 48% High
49%
45%
40%
38% 39% 34% Mid
34% 35%
31% (32Mb~128Mb)
37%
33%
29%
26% 24% 26% 26% 24%
21% Low
'17 '18 '19 '20 '21 1Q21 2Q 3Q 4Q
Macronix International Co., Ltd. 19
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Business u date – hi h densit NOR Parent Com an p g y ( p y)

 High density NOR business

• Strong demands driven by 5G, Data Center, and Automotive

Density shipment index: 1Q18 =100

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Density shipment index: 1Q18 =100
503
475
397
400
327
283 283
256 257
207
201
200 169
149
137
127 126
100
0
1Q18 2Q 3Q 4Q 1Q19 2Q 3Q 4Q 1Q20 2Q 3Q 4Q 1Q21 2Q 3Q 4Q
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Business u date NOR – Well Diverse A lications p pp

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4Q21 NOR revenue comparison Q21 NOR revenue comparison
COMP COMP
27% 23% QoQ YoY
Change Change
CONS ■ Computer -17% +102%
CONS
15%
15%
■ Consumer -3% +57%
COMP COMM
23% COMM
30%
31% ■ Communication -5% +101%
CONS
18%
Auto
COMM Auto 13% ■ Automotive +18% +50%
29% 11%
Auto
17% I.M.A I.M.A ■ I.M.A +16% +188%
I.M.A 16% 19%
13%
4Q20 3Q21 4Q21
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4Q21 NOR revenue comparison Q21 NOR revenue comparison

*** Comm:** including handsets

• I (Industrial), M (Medical), A (Aerospace-defense)

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Business u date – NOR flash breakdown Parent Com an p ( p y)

2021 NOR revenue comparison NOR revenue comparison

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2021 NOR revenue comparison NOR revenue comparison
COMP
YoY
26%
Change
■ Computer +84%
CONS
16%
COMP
22% ■ Consumer +64%
CONS
COMM
15%
30% ■ Communication +25%
COMM
36%
Auto ■ Automotive +41%
12%
Auto
14%
I.M.A
I.M.A ■ I.M.A +101%
16%
13%
2020 2021
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*** Comm:** including handsets

*** I (Industrial), M (Medical), A** (Aerospace-defense)

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Transformin into Less-C clical A lications g y pp

Revenue index: 1Q17 Total =100

NOR revenue Index Trend

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200
PC & CONS Non PC & CONS
100
0
1Q17 1Q18 1Q19 1Q20 1Q21 4Q
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PC ： DTPC 、 NB 、 Web Cam 、 Monitors 、 Tablet

CONS ： Printers/MFP 、 TV 、 Audio 、 Game Consoles 、 Pachinko 、 STB 、 Ela Toys 、 Video

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Business u date – SLC NAND Parent Com an p ( p y)

 SLC NAND business

• 19nm represented 59% of density shipment in 4Q21

• 4Q density shipment down mainly due to strategic capacity allocation

• ASP hike continued

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Density shipment index: 2019Q1 =100 ≧36 nm
19 nm
300 278
209
203
185
200 174
157 158
131 128
100 [111 ] 101
100
0
1Q19 2Q 3Q 4Q 1Q20 2Q 3Q 4Q 1Q21 2Q 3Q 4Q
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A enda g

Welcome

4Q21 Financial Results Business Update Remarks and Q&A

C.Y. Lu Paul Yeh C.Y. Lu C.Y. Lu

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Copyright © Macronix International Co., Ltd. 25
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For more information regarding Macronix http://www.macronix.com

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For all inquiries, suggestions and comments ir@mxic.com.tw