Macronix — Interim / Quarterly Report 2023

May 29, 2023

Macronix International Co., Ltd. First Quarter 2023 Results April 25, 2023

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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 from those or materially expressed 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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Welcome

Welcome Miin Wu 1Q23 Financial Results Paul Yeh Business Update Miin Wu Remarks and Q&A Miin Wu

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1Q23 Financial Highlights

1Q23 4Q22 1Q22 Reviewed Audited Reviewed Revenue NT$ 7.1 NT$ 9.1 NT$ 11.6 (Billion NT$) Gross 25.1% 34.1% 48.3% margin % Operating (6.2% ) 8.3% 27.7% margin %

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Welcome Miin Wu 1Q23 Financial Results Paul Yeh Business Update Miin Wu Remarks and Q&A Miin Wu

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Quarterly Financial Results

Unit：NTD Million (except EPS) Net Sales Gross Profit Gross Margin% Operating Expenses Operating Income (Loss) Operating Margin% Net Non-Operating Income (Loss) (Loss)Income Before Taxes Income Taxes Benefit (Expense) Net(Loss)Income	1Q23 Reviewed 4Q22 Audited 1Q22 Reviewed	QoQ Change YoY Change (22%) (39%) (42%) (68%) (9.0ppt) (23.2ppt) (5%) (7%) (158%) (114%) (14.5ppt) (33.9ppt) (159%) (111%) (159%) (112%)
	7,104 9,078 11,598 1,786 3,097 5,604 25.1% 34.1% 48.3% (2,225) (2,343) (2,387) (439) 754 3,218 (6.2%) 8.3% 27.7% 51 (97) 188 (388) 657 3,406 33 (52) (477) (355) 605 2,929
Basic EPS(NT$)	(0.19) 0.33 1.58
EBITDA EBITDA % Weighted avg outstanding million shares	755 1,838 4,577 11% 20% 39% 1,854 1,853 1,849

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Sales and Gross Mar in Rate g

2019 34,995M Sales NTD M	2019 34,995M Sales NTD M	2019 34,995M Sales NTD M	2019 34,995M Sales NTD M		Net Sales 2020 39,801M	Net Sales 2020 39,801M	Net Sales 2020 39,801M	Net Sales 2020 39,801M	Net Sales 2020 39,801M	Gross Margin% 2021 50,573M	Gross Margin% 2021 50,573M	Gross Margin% 2021 50,573M		2022 43,487M	2022 43,487M		Margin%	Margin%
16,000											14,974							80%
												14,545
12,000			11,906				10,957			11,427		11,598 11,340			11,471			60%
								10,158
				9,581	9,415	9,271			9,627							9,078
8,000		7,479									43%	**47% 48% **		48%	44%		7,104	40%
	6,029		30%		31%	**35% **	36%	**32% **	34%	39%						34%
4,000	**25% **	27%		26%													25%	20%
0																		0%
	1Q19	2Q	3Q	4Q	1Q20	2Q	3Q	4Q 1Q21 2Q			3Q	4Q 1Q22		2Q	3Q	4Q	1Q23

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Cor orate Value p

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1Q23 1Q22
Basic EPS -- NT$ (0.19) 1.58
Book Value -- NT$ 28.38 26.86
Basic EPS Book Value
4.85
NTD NTD
30.0
NT$ 1.8
1.58 1.59 cash dividend 28.38 28.38
1.35 27.89
26.86
26.36
0.33
1Q22 2Q 3Q 4Q 1Q23
25.0
1Q22 2Q 3Q 4Q 1Q23
(0.19)
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Return On Equity (GAAP)

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40% Annualized ROE - Reported 30% Net Income / Sales
29%
30%
20%
24% 15%
18% 21%
20%
16%
11%
10%
9%
13%
10%
9%
0% 0%
2019 2020 2021 2022 1Q23 2019 2020 2021 2022 1Q23
(LTM) (LTM)
85% Sales / Total Assets 200% Total Assets / Total Equity
187%
71% 190% 184%
70%
63%
180%
172%
58%
54%
170%
55%
49% 162% 157%
160%
40% 150%
2019 2020 2021 2022 1Q23 2019 2020 2021 2022 1Q23
(LTM) (LTM)
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Quarterly Consolidated Condensed Balance Sheet

Unit: NTD Million (except BV)	3/31/'23 Reviewed	12/31/'22 Audited	3/31/'22 Reviewed
Cash	14,999	19,764	18,533
Inventory(Net)	14,959	14,680	13,573
Property, Plant and Equipment	39,914	37,982	33,151
Total Assets	81,740	83,893	79,174
Interest bearing debt - short term	5,325	3,684	3,357
Interest bearing debt - long term	8,790	11,970	8,808
Total Liabilities	29,132	31,282	29,381
Debt Ratio (%)	35.6%	37.3%	37.1%
Shareholders' Equity	52,608	52,611	49,793
Book Value -- NT$	28.38	28.38	26.86

Note: MXIC Issues 2023/03/31 outstanding million shares of 1,854

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Quarterly FCF and Capex Plan

Unit: NTD Million	1Q23 Reviewed	4Q22 Audited	1Q22 Reviewed
Cash Flow from Operating	(425)	2,755	2,851
Depreciation & Amortization	1,076	1,121	1,123
Cash Flow from Investing	(2,689)	(2,713)	(2,620)
Capital Expenditures	(2,748)	(2,714)	(2,075)
Cash Flow from Financing	(1,566)	347	(206)
Net Change*	(4,765)	271	(32)
EndingBalance	14,999	19,764	18,533
Free Cash Flow**	(3,173)	41	777

*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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12,000
12%
10%
8,000
QoQ YoY
59% 11% Change Change
51% NAND -14% -46%
53%
4,000 NOR -18% -45%
ROM -22% -12%
21% 30%
30% FBG -44% -52%
8% 9% 6% * FBG (Foundry Business Group)
0
1Q22 4Q22 1Q23
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Welcome

Welcome Miin Wu 1Q23 Financial Results Paul Yeh Business Update Miin Wu Remarks and Q&A Miin Wu

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Business U date - ROM p

 ROM business

Strong high density products shipment in Q1’23

Density shipment index: 1Q18 =100

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400
348
259
245 [252 ] 247
236
228
222
212
185 179 187
200 177
163
142
137
124
113
100
67
64
0
1Q18 2Q 3Q 4Q 1Q19 2Q 3Q 4Q 1Q20 2Q 3Q 4Q 1Q21 2Q 3Q 4Q 1Q22 2Q 3Q 4Q 1Q23
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Business U date - NOR p

 NOR business

End applications markets demand remain low including smartphone, DC and PC

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248
Density shipment index: 1Q18 =100
≧75 nm 230
55 nm
208
195 194
200
175
166
154 156 152 149
142
134
119
109
100 [106 ][112 ]
98 [101 ]
95
100
0
1Q18 2Q 3Q 4Q 1Q19 2Q 3Q 4Q 1Q20 2Q 3Q 4Q 1Q21 2Q 3Q 4Q 1Q22 2Q 3Q 4Q 1Q23
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The Best Flash Solution for Automobile A lications pp

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NOR Flash by Automotive Density shipment
Index: 1Q18 =100
329
310
300 283 280
240 [253] 254
214
192 191
155 155 154
138
135
150
[113] 116 113
100 [109]
91
0
1Q18 2Q 3Q 4Q 1Q19 2Q 3Q 4Q 1Q20 2Q 3Q 4Q 1Q21 2Q 3Q 4Q 1Q22 2Q 3Q 4Q 1Q23
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Business Update – NOR Breakdown (Parent Company)

NOR breakdown by density

Net Sales %

	22%		31%		36%		42%		50%		35%		40%		41%		48%		52%		51%		50%		47%		45%	(
	45%
			40%
					38%						39%
							34%						34%		35%
																											36%
																	31%								37%
									32%										28%		31%		33%
	33%
			29%
					26%						26%		26%
							24%								24%
									18%								21%		20%		18%		17%		16%		19%

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Business Update NOR – Quarterly (Parent Company)

4Q22 NOR Revenue Breakdown 1Q23 NOR Revenue Breakdown

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Comm []
Consumer Auto
19%
9% 23%
Computer I.M.A. []
25%
24%
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Comm [ ]
Consumer
Auto
19%
8%
22%
Computer
I.M.A. []
28%
23%
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Computer Consumer Communication Automotive I.M.A -30% QoQ -6% QoQ -17% QoQ -19% QoQ -15% QoQ -49% YoY -48% YoY -62% YoY -25% YoY -31% YoY

Note ：[] Comm: including handsets ；[*] I(Industrial), M(Medical), A(Aerospace-defense)

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A enda g

Welcome

Welcome Miin Wu 1Q23 Financial Results Paul Yeh Business Update Miin Wu Remarks and Q&A Miin Wu

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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

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