Macronix — Interim / Quarterly Report 2023

Mar 10, 2023

Macronix International Co., Ltd. Fourth Quarter 2022 Results February 14, 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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A enda g

Welcome

Welcome C.Y. Lu 4Q22 Financial Results Paul Yeh Business Update C.Y. Lu Remarks and Q&A C.Y. Lu

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4Q22 Financial Highlights

4Q22 3Q22 4Q21 Audited Reviewed Audited Revenue NT$ 9.1 NT$ 11.5 NT$ 14.5 (billion NT$) Gross 34.1% 44.2% 47.2% margin % Operating 8.3% 21.1% 28.1% margin %

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FY22 Financial Hi hli hts g g

2022 2021 2021 Audited Audited Pro Forma[*] Revenue NT$ 43.5 NT$ 50.6 NT$ 50.6 (billion NT$) Gross 44.2% 41.6% 42.0% margin % Operating 21.5% 21.9% 22.7% 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 C.Y. Lu 4Q22 Financial Results Paul Yeh Business Update C.Y. Lu Remarks and Q&A C.Y. Lu

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Quarterly Financial 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	4Q22 Audited 3Q22 Reviewed 4Q21 Audited	QoQ Change YoY Change (21%) (38%) (39%) (55%) (10.1ppt) (13.1ppt) (12%) (15%) (69%) (82%) (12.8ppt) (19.8ppt) (77%) (84%) (76%) (84%)
	9,078 11,472 14,545 3,097 5,072 6,863 34.1% 44.2% 47.2% (2,343) (2,655) (2,769) 754 2,417 4,094 8.3% 21.1% 28.1% (97) 423 (53) 657 2,840 4,041 (52) (340) (349) 605 2,500 3,692
Basic EPS(NT$)	0.33 1.35 2.00
EBITDA EBITDA % Weighted avg outstanding million shares	1,838 4,047 5,200 20% 35% 36% 1,853 1,849 1,848

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Revenue and O eratin Mar in p g g

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	2022 Audited 2021 Audited 2021 Pro Forma*	YoY Change (14%) (9%) 2.6ppt (1%) (15%) (0.4ppt) (23%) (25%)	Pro Forma YoY (8%) (11%)
	43,487 50,573 50,573 19,238 21,050 21,237 44.2% 41.6% 42.0% (9,869) (9,986) (9,747) 9,369 11,064 11,490 21.5% 21.9% 22.7% 923 2,264 (242) 10,292 13,328 11,248 (1,323) (1,364) (1,179) 8,970 11,963 10,069
Basic EPS(NT$)	4.85 6.48 5.46
EBITDA 15,041 17,848 15,769 EBITDA% 35% 35% 31% Weighted avg outstanding million shares 1,850 1,845 1,845

Note ：[*] Excluding all effects of disposal of 6” fab in Q3 2021

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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 2020 39,801M	Net 2020 39,801M	Sales		Gross Margin% 2021 50,573M	Gross Margin% 2021 50,573M	Gross Margin% 2021 50,573M		2022 43,487M	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%			40%
	6,029		30%		31%	**35% **	36%	**32% **	34%	39%						34%
4,000	**25% **	27%		26%														20%
0																		0%
	1Q19	2Q	3Q	4Q	1Q20	2Q	3Q	4Q	1Q21	2Q	3Q	4Q	1Q22	2Q	3Q	4Q

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Cor orate Value p

ate Value
	2022	2021
Basic EPS -- NT$	4.85	6.48
Book Value -- NT$	28.38	25.20
Basic EPS		Book Value

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NTD 6.48 4.85 NTD
2.94
3.0 27.89 [28.38 ]
26.86 26.36
1.92 [] 2.00 25.20
2.0
25.0
1.58 [1.59 ] 23.21
1.35
1.04 21.20 NT$ 1.8
1.0
20.18 cash dividend
0.50
0.33
0.0 18.0
1Q21 2Q 3Q 4Q 1Q22 2Q 3Q 4Q 1Q21 2Q 3Q 4Q 1Q22 2Q 3Q 4Q
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Note ：[*] Excluding all effects of disposal of 6” fab in Q3 2021

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Return On Equity (GAAP)

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40% Annualized ROE - Reported 30% Net Income / Sales
29%
30%
20%
24%
18% 21%
20%
16%
10%
9%
13%
10%
9%
0% 0%
2019 2020 2021 2022 2019 2020 2021 2022
Sales / Total Assets 200% Total Assets / Total Equity
187%
190% 184%
80%
71%
180%
172%
63%
170%
65%
58% 162%
54% 160%
50% 150%
2019 2020 2021 2022 2019 2020 2021 2022
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Quarterly Consolidated Condensed Balance Sheet

Unit: NTD Million (except BV)	12/31/'22 Audited	9/30/'22 Reviewed	12/31/'21 Audited
Cash	19,764	19,493	18,565
Inventory(Net)	14,680	15,386	13,156
Property, Plant and Equipment	37,982	36,426	32,218
Total Assets	83,893	85,074	76,708
Interest bearing debt - short term	3,684	3,257	3,095
Interest bearing debt - long term	11,970	12,009	9,250
Total Liabilities	31,282	33,362	29,983
Debt Ratio (%)	37.3%	39.2%	39.1%
Shareholders' Equity	52,611	51,712	46,725
Book Value -- NT$	28.38	27.89	25.20

Note: MXIC Issues 2022/12/31 outstanding million shares of 1,854

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Quarterly FCF and Capex Plan

Unit: NTD Million	4Q22 Audited	3Q22 Reviewed	4Q21 Audited		2022 Audited	2021 Audited
Cash Flow from Operating	2,755	1,960	7,043		11,656	16,116
Depreciation & Amortization	1,121	1,154	1,106		4,539	4,284
Cash Flow from Investing	(2,713)	(3,050)	(2,211)		(10,339)	(2,623)
Capital Expenditures	(2,714)	(3,050)	(2,542)		(9,964)	(4,790)
Cash Flow from Financing	347	85	(1,275)		(68)	(6,262)
Cash Dividends	-	(3,337)	(2,227)		(3,337)	(2,227)
Net Change*	271	(585)	3,413		1,199	6,686
EndingBalance	19,764	19,493	18,565		19,764	18,565
Free Cash Flow**	41	(1,090)	4,501		1,692	11,326

*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)

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Unit: NTD Million
16,000
14%
12,000
9%
52%
QoQ YoY
10%
8,000 49% Change Change
NAND -15% -56%
51%
NOR -20% -40%
4,000
ROM -25% -33%
28% 32%
30% FBG -29% -10%
6% 10% 9% * FBG (Foundry Business Group)
0
4Q21 3Q22 4Q22
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Annual Sales Breakdown by Products (Parent Company)

Unit: NT$ Million

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50,000
14%
40,000 11%
10%
2021 2022
30,000 52%
YoY YoY
42% 55%
Change Change
NAND +80% -31%
20,000
NOR +57% -9%
ROM -15% -21%
10,000 41% 27% 25%
FBG +25% +8%
FBG (Foundry Business Group)
7% 7% 9%
0
2020 2021 2022
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A enda g

Welcome

Welcome C.Y. Lu 4Q22 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

2H22 density shipments is better than 1H22, the pattern is as usual

Density shipment index: 1Q18 =100

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400
348
259
245 [252 ] 247
236
228
222
185 187
179
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
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Business U date - NOR p

 NOR business

• The economic uncertainty, inflation and geopolitical tension dampens the market demands

• High quality clients from secular segments remain intact

• Customers’ inventory adjustment is undergoing

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

• Superior quality performance with 560[+] million Auto-grade parts shipment since 2012

• Macronix wins back-to-back memory product of the year honors at EE Awards Asia[*]

• LexisNexis Top 100[**] recognized MXIC’s innovation in 2023

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Index: 2018 =100 284
300 234
154
126
100
150
NOR Flash by Automotive Density shipment
0
2018 2019 2020 2021 2022
Index: 1Q18 =100 329
283 [310 ] 280
300
240 [253] 254
192 191
138 [155] [155] 135 [154]
150 100 [109] [113] 116 113
91
0
1Q18 2Q 3Q 4Q 1Q19 2Q 3Q 4Q 1Q20 2Q 3Q 4Q 1Q21 2Q 3Q 4Q 1Q22 2Q 3Q 4Q
Note ： Note: EE Awards Asia 2022(2022/12); LexisNexis Innovation Momentum Report 2023 (2023/2)
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Business Update – NOR Breakdown (Parent Company)

 NOR business

• ASP remained stable, driven by the high value-added applications

• DC, AI, Automotive and 5G applications are growth drivers

Net Sales %

NOR breakdown by density

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22%
31%
36% 35%
42% 40% 41%
50% 48% 52% 51% 50% 47%
High
45%
40%
38% 39%
34%
34% 35%
31% Mid
32% 28% 31% 33% 37%
(32Mb~128Mb)
33%
29%
26% 24% 26% 26% 24% Low
18% 21% 20% 18% 17% 16%
'18 '19 '20 '21 '22 1Q21 2Q 3Q 4Q 1Q22 2Q 3Q 4Q
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Note ： DCAI(Data Center + Artificial Intelligence)

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Business Update NOR – Quarterly (Parent Company)

3Q22 NOR Revenue Breakdown 4Q22 NOR Revenue Breakdown

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Consumer Comm []
Auto
8% 19%
22%
Computer
I.M.A. []
28%
23%
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Comm [ ]
Consumer
20% Auto
8%
23%
Computer
I.M.A. []
27%
22%
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Computer Consumer Communication Automotive I.M.A -15% QoQ -19% QoQ -25% QoQ -19% QoQ -14% QoQ -34% YoY -56% YoY -59% YoY +5% YoY -35% YoY

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

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Business Update NOR – Yearly (Parent Company)

2021 NOR Revenue Breakdown 2022 NOR Revenue Breakdown

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Consumer Comm
12% 28%
Auto
Computer
12%
29%
I.M.A.
19%
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Comm
Consumer
22% Auto
9%
19%
Computer
I.M.A.
28%
22%
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Computer Consumer Communication Automotive I.M.A -13% YoY -34% YoY -27% YoY +43% YoY +8% YoY

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

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A enda g

Welcome

Welcome C.Y. Lu 4Q22 Financial Results Paul Yeh Business Update C.Y. Lu Remarks and Q&A C.Y. Lu

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Copyright © Macronix International Co., Ltd. 22
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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