Macronix — Interim / Quarterly Report 2024

Oct 29, 2024

Macronix International Co., Ltd. Third Quarter 2024 Results October 29, 2024

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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 Miin Wu 3Q24 Financial Results Paul Yeh Business Update Miin Wu Remarks and Q&A Miin Wu

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3Q24 Financial Highlights

3Q24 2Q24 3Q23 Revenue NT$ 7.8 NT$ 6.5 NT$ 7.3 (Billion NT$) Gross 28.9% 30.0% 24.2% margin % Operating (4.6% ) (7.9%) (9.0%) margin %

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3Q24YTD Financial Highlights

3Q24YTD

3Q23YTD

Revenue NT$ 20.0 NT$ 21.8 (Billion NT$) Gross 26.6% 25.9% margin % Operating (10.9% ) (5.8%) margin %

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Ke A enda y g

 R&D Expenses Remain High for 3D NOR and Enterprise SSD

 The Factory Equipment Still Has Room for Improving Performance

 ROM Declines due to Customers’ Anticipation for New Platform

• Inventory Digestion Requires Further Effort to Do It Faster and

Appropriately

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A enda g

Welcome Miin Wu 3Q24 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	3Q24 2Q24 3Q23	QoQ YoY
	7,755 6,456 7,283 2,244 1,936 1,761 28.9% 30.0% 24.2% (2,602) (2,448) (2,414) (358) (512) (652) (4.6%) (7.9%) (9.0%) 32 198 202 (325) (314) (450) 29 28 43 (296) (286) (408)	20% 6% 16% 27% (1.1ppt) 4.7ppt 6% 8% (30%) (45%) 3.3ppt 4.4ppt 4% (28%) 4% (27%)
Basic EPS(NT$)	(0.16) (0.15) (0.22)
EBITDA EBITDA % Weighted avg outstanding million shares	984 982 659 13% 15% 9% 1,854 1,854 1,854

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3Q24YTD Revenue and Operating Margin

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 Benefit (Expense) Net Income Basic EPS (NT$)	3Q24YTD 3Q23YTD	YoY
	19,971 21,816 5,322 5,650 26.6% 25.9% (7,493) (6,908) (2,171) (1,258) (10.9%) (5.8%) 335 503 (1,836) (755) 175 63 (1,661) (692) (0.90) (0.37)	(8%) (6%) 0.7ppt 8% 73% (5.1ppt) 143% 140%
EBITDA 2,042 2,607 EBITDA% 10% 12% Weighted avg outstanding million shares 1,854 1,854

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Sales and Gross Mar in Rate g

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2020 2021 2022 2023
39,801M 50,573M 43,487M 27,624M
Sales
NTD M Net Sales Gross Margin% Margin%
16,000 80%
14,974
14,545
12,000 11,427 11,598 11,340 11,471 60%
10,957
10,158
9,627
9,415 9,271
9,078
47% [48%] [48%] 7,755
8,000 44% 7,104 7,429 7,283 40%
43%
6,456
39%
5,808 5,760
35% [36%]
32% [34%] 34%
31%
30%
29%
28%
4,000 25% 24% 20%
19% [20%]
0 0%
1Q20 2Q 3Q 4Q 1Q21 2Q 3Q 4Q 1Q22 2Q 3Q 4Q 1Q23 2Q 3Q 4Q 1Q24 2Q 3Q
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Cor orate Value p

ate Value
	3Q24	3Q23
Basic EPS -- NT$	(0.16)	(0.22)
Book Value -- NT$	24.59	26.43

Basic EPS Book Value

NTD

NTD

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(0.92) (0.90)
NT$ 1.8
30.0 cash dividend
NT$ 0.5
28.4
cash dividend
0.04
26.7 26.4 26.1 25.8
1Q23 2Q 3Q 2Q 3Q
24.9
(0.19) (0.22) (0.15) (0.16)
4Q 1Q24 24.6
(0.54) (0.58)
24.0
1Q23 2Q 3Q 4Q 1Q24 2Q 3Q
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Return On Equity (GAAP)

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Annualized ROE - Reported Net Income / Sales
16%
13%
-10.3%
-6%
2017 2018 2019 2020 2021 2022 2023 3Q24
2017 2018 2019 2020 2021 2022 2023 3Q24
(LTM)
(LTM)
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Sales / Total Assets Total Assets / Total Equity
63%
184%
33% 168%
2017 2018 2019 2020 2021 2022 2023 3Q24 2017 2018 2019 2020 2021 2022 2023 3Q24
(LTM) (LTM)
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Quarterly Consolidated Condensed Balance Sheet

Unit: NTD Million (except BV)	9/30/'24	6/30/'24	9/30/'23
Cash	10,175	11,213	13,432
Inventory(Net)	13,354	13,523	13,409
Property, Plant and Equipment	42,423	41,762	41,200
Total Assets	78,827	78,702	79,764
Interest bearing debt - short term	4,250	3,216	2,257
Interest bearing debt - long term	20,045	19,251	17,858
Total Liabilities	33,228	32,555	30,765
Debt Ratio (%)	42.2%	41.4%	38.6%
Shareholders' Equity	45,598	46,147	48,999
Book Value -- NT$	24.59	24.89	26.43

Note: MXIC Issues 2024/09/30 outstanding million shares of 1,854

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Quarterly FCF and Capex Plan

Unit: NTD Million	3Q24	2Q24	3Q23
Cash Flow from Operating	(81)	65	(348)
Depreciation & Amortization	1,217	1,210	1,044
Cash Flow from Investing	(1,836)	(1,001)	(1,717)
Capital Expenditures	(1,929)	(1,000)	(1,706)
Cash Flow from Financing	872	1,464	(495)
Net Change*	(1,037)	493	(2,453)
EndingBalance	10,175	11,213	13,432
Free Cash Flow**	(2,009)	(934)	(2,055)

*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
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8,000
8%
7%
14%
QoQ YoY
50% 55%
Change Change
4,000
NAND -36% +11%
63%
NOR +5% +18%
ROM+149% -20%
38% 29%
14% FBG +14% +82%
9% 8%
5% * FBG (Foundry Business Group)
0
3Q23 2Q24 3Q24
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A enda g

Welcome

Welcome Miin Wu 3Q24 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

• Customers are supposing that a new platform will be released in upcoming quarters

• Q3 performance has improved compared to Q2, but we anticipate some uncertainty in the upcoming quarters

Density shipment index: 1Q18 =100

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400
348
309
259
245 [252] 247
236
228
222
212
196
200 177 185 179 187
163 158
142
137
124
113
100
94
75
67 64
58
0
1Q182Q 3Q 4Q1Q192Q 3Q 4Q1Q202Q 3Q 4Q1Q212Q 3Q 4Q1Q222Q 3Q 4Q1Q232Q 3Q 4Q1Q242Q 3Q
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Business U date - NOR p

 NOR business

• The growing demand from server and AI related PC/NB

• The higher density demand gained more growth momentum in 2H’24

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Density shipment index: 1Q19 =100
≧75 nm
246
55 nm
228
206
193 192
200
173
153 164 155 151
148
141 143 [154 ]
133
118
108 108 [113 120 ]
100 94 92
100
0
1Q19 2Q 3Q 4Q 1Q20 2Q 3Q 4Q 1Q21 2Q 3Q 4Q 1Q22 2Q 3Q 4Q 1Q23 2Q 3Q 4Q 1Q24 2Q 3Q
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The Best Flash Solution for Automobile A lications pp

 Auto business

• Cyclical adjustment driven by end market weakness

• Automotive semiconductors demand from the various applications is long term driver

NOR Flash by Automotive Density shipment Index: 1Q18 =100

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329
300 283 [310] 280
254 257
240 [253]
233
217 [233]
214201 206
192188
138 [155155] 135 [154]
150
116113
100 [109] [113]
91
0
1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q
18 19 20 21 22 23 24
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Business Update NOR – Quarterly (Parent Company)

2Q24 NOR Revenue Breakdown 3Q24 NOR Revenue Breakdown

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Comm, Comm,
Consumer,
Consumer,
21% 18%
10%
11% Auto, Auto,
Computer,
Computer, 20% 21%
33%
30% I.M.A., I.M.A.,
18% 18%
Computer Consumer Communication Automotive I.M.A
+16% QoQ -6% QoQ -10% QoQ +12% QoQ +7% QoQ
+57% YoY +35% YoY +16% YoY -5% YoY -4% YoY
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Note ：[] Comm: including handsets ；[*] I(Industrial), M(Medical), A(Aerospace-defense)

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A enda g

Welcome

Welcome Miin Wu 3Q24 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