Macronix — Interim / Quarterly Report 2022

May 30, 2022

Macronix International Co., Ltd. First Quarter 2022 Results April 26, 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 Miin Wu 1Q22 Financial Results Paul Yeh Business Update Miin Wu Remarks and Q&A Miin Wu

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Copyright © Macronix International Co., Ltd. 2
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Record High 1Q Results

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1Q22 4Q21 1Q21
Reviewed Audited Reviewed
Revenue
NT$ 11.6 NT$14.5 NT$ 9.6
(billion NT$)
Gross
48.3% 47.2% 34.3%
margin %
Operating
27.7% 28.1% 12.1%
margin %
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Copyright © Macronix International Co., Ltd. 3
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A enda g

Welcome Miin Wu 1Q22 Financial Results Paul Yeh Business Update Miin Wu Remarks and Q&A Miin Wu

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Solid Financial Results with Earnings Up 3x Y/Y

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	1Q22 Reviewed 4Q21 Audited 1Q21 Reviewed	QoQ Change YoY Change (20%) 20% (18%) 70% 1.1ppt 14.0ppt (14%) 12% (21%) 175% (0.4ppt) 15.6ppt (16%) 244% (21%) 220%
	11,598 14,545 9,627 5,604 6,863 3,301 48.3% 47.2% 34.3% (2,387) (2,769) (2,133) 3,218 4,094 1,168 27.7% 28.1% 12.1% 188 (53) (177) 3,406 4,041 991 (477) (349) (75) 2,929 3,692 916
	1.58 2.00 0.50 4,577 5,200 2,097 39% 36% 22% 1,849 1,848 1,844

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Sustainable Sales and Mar in Growths g

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Sales
NTD M Margin%
2019 2020 2021
16,000 34,995M 39,801M 50,573M 80%
14,974 14,545
11,906
12,000 11,426 11,598 60%
10,957
10,158
9,581 9,415 9,271 9,627
48%
47%
8,000 7,479 40%
43%
6,029 39%
36%
35%
34%
32%
31%
30%
27%
4,000 25% 26% 20%
0 0%
1Q19 2Q 3Q 4Q 1Q20 2Q 3Q 4Q 1Q21 2Q 3Q 4Q 1Q22
Net Sales Gross Margin%
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Risin Cor orate Value g p

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1Q22 1Q21
Basic EPS -- NT$ 1.58 0.50
Book Value -- NT$ 26.86 20.18
Basic EPS Book Value
6.48
NTD NTD
28.0 26.86
2.94
3.0
25.20
23.21
1.92 2.00
2.0
22.5 21.20
1.58
20.18
1.04
1.0
0.50
17.0
0.0 1Q21 2Q 3Q 4Q 1Q22
1Q21 2Q 3Q 4Q 1Q22
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Improving ROE (GAAP)

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40% 40%
Annualized ROE - Reported
Net Income / Sales
32%
29%
27%
30%
24%
20% 20%
16%
13%
9%
9%
10%
0% 0%
2019 2020 2021 1Q22 ~ 2019 2020 2021 1Q22
(LTM) (LTM)
100% Sales / Total Assets 200% Total Assets / Total Equity
187%
184%
73%
71%
75% 180%
63% 171%
58%
165%
50% 160%
2019 2020 2021 1Q22 2019 2020 2021 1Q22
(LTM) (LTM)
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Improving ROE (non GAAP)

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40% Annualized ROE – Pro Forma 40% Net Income / Sales
31%
27%
30%
23%
20%
17%
20% 20%
13%
9%
10%
10%
0% 0%
2019 2020 2021 1Q22 ~ 2019 2020 2021 1Q22
(LTM) (LTM)
100% Sales / Total Assets 210% Total Assets / Total Equity
199%
194%
77%
74%
75% 190%
183%
65%
60%
176%
50% 170%
2019 2020 2021 1Q22 2019 2020 2021 1Q22
(LTM) (LTM)
Pro Forma - excluding all effects of disposal of 6” fab
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Stron Balance Sheet with a Health Debt Ratio g y

Unit: NTD Million (except BV) Cash	3/31/'22 Reviewed 18,533	12/31/'21 Audited 18,565	3/31/'21 Reviewed 10,370
Inventory(Net)	13,573	13,156	13,238
Property, Plant and Equipment	33,151	32,218	30,838
Total Assets	79,174	76,708	64,634
Interest bearing debt - short term	3,357	3,095	5,565
Interest bearing debt - long term	8,808	9,250	8,110
Total Liabilities	29,381	29,983	27,212
Debt Ratio (%)	37.1%	39.1%	42.1%
Shareholders' Equity	49,793	46,725	37,422
Book Value -- NT$	26.86	25.20	20.18

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Solid FcF with Disciplined Capex

Unit: NTD Million	1Q22 Reviewed	4Q21 Audited	1Q21 Reviewed
Cash Flow from Operating	2,851	7,043	2,005
Depreciation & Amortization	1,123	1,106	1,036
Cash Flow from Investing	(2,620)	(2,211)	(594)
Capital Expenditures	(2,075)	(2,542)	(531)
Cash Flow from Financing	(206)	(1,275)	(2,592)
Net Change*	(32)	3,413	(1,510)
EndingBalance	18,533	18,565	10,370
Free Cash Flow**	777	4,501	1,474

*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
14%
12,000
12%
52% QoQ YoY
12%
Change Change
8,000
NAND -30% +23%
59%
52%
NOR -10% +37%
ROM -40% -5%
4,000
FBG +3% -7%
28%
26% * FBG (foundry business group)
21%
10% 6% 8%
0
1Q21 4Q21 1Q22
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Copyright © Macronix International Co., Ltd. 12
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A enda g

Welcome

Welcome Miin Wu 1Q22 Financial Results Paul Yeh Business Update Miin Wu Remarks and Q&A Miin Wu

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500

Business u date - ROM p

 ROM business

• 1Q22 density shipments in-lined with historical seasonality

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Density shipment index: 1Q17 =100
421
314
296 [305 ]
285
276
269
224
214 217
198
189
165 172
153
136
121
100
81 77
45
0
1Q17 2Q 3Q 4Q 1Q18 2Q 3Q 4Q 1Q19 2Q 3Q 4Q 1Q20 2Q 3Q 4Q 1Q21 2Q 3Q 4Q 1Q22
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250

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Business u date - NOR p

 NOR business

• 1Q22 density shipments remained flat y/y and -16% q/q due to other components shortage / supply chain disruption

• 55nm continued to expand the penetration, representing 62% of density shipments in 1Q22

• 45nm samples will be shipped in 2Q22

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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
154
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 1Q22
Macronix International Co., Ltd. 15
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0

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

 NOR business

• Continued to focus on developing high density products with more than 50% of revenues

• ASP remained high, driven by strong demands from a prestigious customer base for high quality / reliable products

NTD %

NOR breakdown by density

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14%
22%
31%
36% 35%
42% 40% 41% High
48%
52%
49%
45%
40%
38% 39% Mid
34%
34% 35%
31% (32Mb~128Mb)
28%
37%
33%
29%
26% 24% 26% 26% 24%
21% 20% Low
'17 '18 '19 '20 '21 1Q21 2Q 3Q 4Q 1Q22
Macronix International Co., Ltd. 16
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Business u date NOR – Well Diverse A lications p pp

Sales %

1Q22 NOR revenue comparison

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COMP QoQ YoY
25%
Change Change
COMP
27%
CONS ■ Computer -3% +35%
11%
CONS
COMP 10% ■ Consumer -19% -3%
28%
COMM
CONS 30% COMM
13% 27% ■ Communication -18% +33%
COMM
Auto
28% 13% Auto ■ Automotive +14% +75%
16%
Auto
13%
I.M.A I.M.A ■ I.M.A -18% +51%
I.M.A
21%
20%
18%
1Q21 4Q21 1Q22 Reclassification ：
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Reclassification ： Printers/MFP (CONSCOMP) Surveillance & Security (CONSI.M.A)

• Comm: including handsets

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

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Transformin into Secular A lications g pp

Revenue index: 1Q17 Total =100

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NOR revenue Index Trend
200
PC & CONS Non PC & CONS
q/q -8%
Huawei
impact
100
q/q -18%
0
1Q17 1Q18 1Q19 1Q20 1Q21 1Q22
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PC ： DTPC 、 NB 、 Printers/MFP 、 Monitors 、 Tablet 、 Web Cam CONS ： TV 、 Audio 、 Game Consoles 、 STB 、 Ela Toys 、 Video 、 Pachinko

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

 SLC NAND business

• 1Q22 density shipment down mainly on capacity allocation to NOR for higher margins

• 36 nm is mainly for Automotive and Industrial (longevity) applications

• 19nm represented 43% of density shipment in 1Q22, expected to ramp up in 2H22

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Density shipment index: 2019Q1 =100 ≧36 nm
19 nm
300 278
209
203
185
200 174
157 158
142
131 128
100 [111 ] 101
100
0
1Q19 2Q 3Q 4Q 1Q20 2Q 3Q 4Q 1Q21 2Q 3Q 4Q 1Q22
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Copyright © Macronix International Co., Ltd. 19
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A enda g

Welcome

Welcome Miin Wu 1Q22 Financial Results Paul Yeh Business Update Miin Wu Remarks and Q&A Miin Wu

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Copyright © Macronix International Co., Ltd. 20
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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