Macronix — Interim / Quarterly Report 2024

Sep 16, 2024

Macronix International Co., Ltd. Second Quarter 2024 Results July 30, 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

Welcome C.Y. Lu 2Q24 Financial Results Paul Yeh Business Update C.Y. Lu Remarks and Q&A C.Y. Lu

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2Q24 Financial Highlights

2Q24 1Q24 2Q23 Revenue NT$ 6.5 NT$ 5.8 NT$ 7.4 (Billion NT$) Gross 30.0% 19.8% 28.3% margin % Operating (7.9% ) (22.6%) (2.2%) margin %

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1H24 Financial Hi hli hts g g

1H24

1H23

Revenue NT$ 12.2 NT$ 14.5 (Billion NT$) Gross 25.2% 26.8% margin % Operating (14.8% ) (4.2%) margin %

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A enda g

Welcome C.Y. Lu 2Q24 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 (Loss) Operating Margin% Net Non-Operating Income (Loss) (Loss)Income Before Taxes Income Taxes Benefit (Expense) Net(Loss)Income	2Q24 1Q24 2Q23	QoQ YoY
	6,456 5,760 7,429 1,936 1,142 2,103 30.0% 19.8% 28.3% (2,448) (2,444) (2,269) (512) (1,302) (166) (7.9%) (22.6%) (2.2%) 198 105 249 (314) (1,196) 83 28 118 (12) (286) (1,079) 71	12% (13%) 69% (8%) 10.2ppt 1.7ppt 0% 8% (61%) 207% 14.7ppt (5.7ppt) (74%) (479%) (73%) (503%)
Basic EPS(NT$)	(0.15) (0.58) 0.04
EBITDA EBITDA % Weighted avg outstanding million shares	982 76 1,193 15% 1% 16% 1,854 1,854 1,854

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1H24 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 Benefit (Expense) Net Income Basic EPS (NT$)	1H24 1H23	YoY
	12,216 14,533 3,078 3,888 25.2% 26.8% (4,892) (4,494) (1,813) (606) (14.8%) (4.2%) 303 300 (1,511) (305) 146 21 (1,365) (284) (0.74) (0.15)	(16%) (21%) (1.6ppt) 9% 199% (10.6ppt) 395% 380%
EBITDA 1,058 1,948 EBITDA% 9% 13% 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%]
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%
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
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Cor orate Value p

ate Value
	2Q24	2Q23
Basic EPS -- NT$	(0.15)	0.04
Book Value -- NT$	24.89	26.70

Basic EPS Book Value

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NTD NTD
(0.92)
NT$ 1.8
30.0 cash dividend
NT$ 0.5
28.38
cash dividend
0.04 26.70
26.43 26.07 25.79
1Q23 2Q 3Q 4Q 1Q24 2Q
24.89
(0.19) (0.22) (0.15)
(0.54) (0.58)
24.0
1Q23 2Q 3Q 4Q 1Q24 2Q
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Return On Equity (GAAP)

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Annualized ROE - Reported Net Income / Sales
16%
13%
-11.0%
-6%
2017 2018 2019 2020 2021 2022 2023 2Q24
2017 2018 2019 2020 2021 2022 2023 2Q24
(LTM)
(LTM)
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Sales / Total Assets Total Assets / Total Equity
63%
184%
32% 168%
2017 2018 2019 2020 2021 2022 2023 2Q24 2017 2018 2019 2020 2021 2022 2023 2Q24
(LTM) (LTM)
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Quarterly Consolidated Condensed Balance Sheet

Unit: NTD Million (except BV)	6/30/'24	3/31/'24	6/30/'23
Cash	11,213	10,719	15,885
Inventory(Net)	13,523	13,158	14,224
Property, Plant and Equipment	41,762	41,802	40,186
Total Assets	78,702	77,876	81,783
Interest bearing debt - short term	3,016	3,263	5,429
Interest bearing debt - long term	19,251	17,724	11,841
Total Liabilities	32,555	30,071	32,290
Debt Ratio (%)	41.4%	38.6%	39.5%
Shareholders' Equity	46,147	47,804	49,493
Book Value -- NT$	24.89	25.79	26.70

Note: MXIC Issues 2024/03/31 outstanding million shares of 1,854

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Quarterly FCF and Capex Plan

Unit: NTD Million	2Q24	1Q24	2Q23
Cash Flow from Operating	65	(1,255)	(506)
Depreciation & Amortization	1,210	1,199	1,044
Cash Flow from Investing	(1,001)	(1,511)	(1,746)
Capital Expenditures	(1,000)	(1,667)	(1,703)
Cash Flow from Financing	1,464	1,501	3,167
Net Change*	493	(1,186)	887
EndingBalance	11,213	10,719	15,885
Free Cash Flow**	(934)	(2,922)	(2,210)

*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
9%
14%
12% QoQ YoY
46%
Change Change
4,000
63% NAND +31% +34%
61%
NOR +16% +16%
39%
ROM -15% -69%
18% 14%
FBG +17% +36%
6% 9% 9%
0
FBG (Foundry Business Group)
2Q23 1Q24 2Q24
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A enda g

Welcome

Welcome C.Y. Lu 2Q24 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

• Extending the existing console cycle in 2024

• Fewer new game titles were launched in 1H'24 as the platform has reached its peak.

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Density shipment index: 1Q18 =100
400
348
309
259
245 [252] 247
236
228
222
212
196
185 187
200 177 179
163
142
137
124
113
100
94
75
67 64
58
0
1Q182Q 3Q 4Q1Q192Q 3Q 4Q1Q202Q 3Q 4Q1Q212Q 3Q 4Q1Q222Q 3Q 4Q1Q232Q 3Q 4Q1Q242Q
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Business U date - NOR p

 NOR business

• End demand grows with new applications in computer, consumer and communication

• The book[*] momentum remains stable and returns to the level of 2022

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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
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
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Note: *Book ： Value of Orders Received

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Business U date - NOR Book Trend p

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$
2022 2023 2024H1
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MA120 MA60

Note: (1) MA 120 ： 120-Day Moving Average Book ； (2) MA 60 ： 60-Day Moving Average Book ； (3) Book ： Value of Orders Received

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The Best Flash Solution for Automobile A lications pp

 Auto business

• The ongoing transition of electronics systems and electrification demand remains robust.

• Part of the demand has been affected by the reduction in government subsidies for electric vehicles, which has led to a reduction in the growth rate of market demand.

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

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329
283 [310] 280
300
254 257
240 [253]
233
214 217
201 206
192188
154
138 [155][155] 135
150
116 113
100 [109] [113]
91
0
1Q182Q 3Q 4Q1Q192Q 3Q 4Q1Q202Q 3Q 4Q1Q212Q 3Q 4Q1Q222Q 3Q 4Q1Q232Q 3Q 4Q1Q242Q
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Business Update NOR – Quarterly (Parent Company)

1Q24 NOR Revenue Breakdown 2Q24 NOR Revenue Breakdown

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Comm, Comm,
Consumer,
Consumer,
16% Auto, 21%
9% 11% Auto,
27% Computer,
Computer, 20%
30%
27% I.M.A., I.M.A.,
21% 18%
Computer Consumer Communication Automotive I.M.A
+30% QoQ +33% QoQ +55% QoQ -17% QoQ -0% QoQ
+30% YoY +43% YoY +33% YoY +0% YoY -9% YoY
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Note ：[] Comm: including handsets ；[*] I(Industrial), M(Medical), A(Aerospace-defense)

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Copyright © Macronix International Co., Ltd. 19
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A enda g

Welcome

Welcome C.Y. Lu 2Q24 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. 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