Macronix — Interim / Quarterly Report 2025

Apr 29, 2025

Macronix International Co., Ltd. First Quarter 2025 Results April 29, 2025

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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. 2
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Welcome

Welcome Miin Wu 1Q25 Financial Results Paul Yeh Business Update Miin Wu Remarks and Q&A Miin Wu

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1Q25 Financial Highlights

1Q25 4Q24 1Q24 Revenue NT$ 6.1 NT$ 5.9 NT$ 5.8 (Billion NT$) Gross 17.7% 13.1% 19.8% margin % Operating (17.6% ) (29.6%) (22.6%) 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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Welcome Miin Wu 1Q25 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	1Q25 4Q24 1Q24	QoQ YoY
	6,137 5,913 5,760 1,087 777 1,142 17.7% 13.1% 19.8% (2,169) (2,530) (2,444) (1,082) (1,753) (1,302) (17.6%) (29.6%) (22.6%) 113 42 105 (969) (1,710) (1,196) 97 159 118 (873) (1,551) (1,079)	4% 7% 40% (5%) 4.6ppt (2.1ppt) (14%) (11%) (38%) (17%) 12.0ppt 5.0ppt (43%) (19%) (44%) (19%)
Basic EPS(NT$)	(0.47) (0.84) (0.58)
EBITDA EBITDA % Weighted avg outstanding million shares	398 (379) 76 6% (6%) 1% 1,854 1,854 1,854

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Sales and Gross Mar in Rate g

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2020 2021 2022 2023 2024
39,801M 50,573M 43,487M 27,624M 25,883M
Sales
Margin%
NTD M Net Sales Gross Margin%
16,000 80%
14,974
14,545
11,598 11,471
12,000 11,427 11,340 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 5,913 [6,137 ]
35% [36%]
34%
32% [34%]
31%
30% 29%
28%
4,000 25% 24% 20%
19% [20%]
18%
13%
0 0%
1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q
20 21 22 23 24 25
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Cor orate Value p

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1Q25 1Q24
Basic EPS -- NT$ (0.47) (0.58)
Book Value -- NT$ 23.69 25.79
Basic EPS Book Value
NTD NTD
30.0
(1.73)
NT$ 0.5
cash dividend
25.8
24.9
24.6
2Q 3Q 23.7 23.7
(0.15) (0.16)
1Q25
1Q24 23.0
4Q
(0.47)
1Q24 2Q 3Q 4Q 1Q25
(0.58) (0.84)
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Return On Equity (GAAP)

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Annualized ROE - Reported Net Income / Sales
16%
13%
-11%
-7%
2017 2018 2019 2020 2021 2022 2023 2024 1Q25
2017 2018 2019 2020 2021 2022 2023 2024 1Q25
(LTM)
(LTM)
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Total Assets / Total Equity

Sales / Total Assets 63% 184% 33% 2017 2018 2019 2020 2021 2022 2023 2024 1Q25 (LTM)

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171%
2017 2018 2019 2020 2021 2022 2023 20241Q25
(LTM)
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Quarterly Consolidated Condensed Balance Sheet

Unit: NTD Million (except BV)	3/31/'25	12/31/'24	3/31/'24
Cash	12,576	11,623	10,719
Inventory(Net)	13,027	13,406	13,158
Property, Plant and Equipment	41,300	41,874	41,802
Total Assets	79,067	77,877	77,876
Interest bearing debt - short term	5,218	4,706	3,263
Interest bearing debt - long term	21,960	20,793	17,724
Total Liabilities	35,153	33,897	30,071
Debt Ratio (%)	44.5%	43.5%	38.6%
Shareholders' Equity	43,914	43,980	47,804
Book Value -- NT$	23.69	23.72	25.79

Note: MXIC Issues 2025/03/31 outstanding million shares of 1,854

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Quarterly FCF and Capex Plan

Unit: NTD Million	1Q25	4Q24	1Q24
Cash Flow from Operating	(402)	1,095	(1,255)
Depreciation & Amortization	1,260	1,230	1,199
Cash Flow from Investing	(593)	(825)	(1,511)
Capital Expenditures	(592)	(825)	(1,667)
Cash Flow from Financing	1,817	1,172	1,501
Net Change*	952	1,448	(1,186)
EndingBalance	12,576	11,623	10,719
Free Cash Flow**	(994)	270	(2,922)

*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
8,000
8%
7%
11%
12% 10%
QoQ YoY
4,000 Change Change
58%
68%
61% NAND +24% -10%
NOR +27% +19%
ROM -37% -17%
18% 24%
14%
FBG -4% -8%
9% 8% 7%
0
FBG (Foundry Business Group)
1Q24 4Q24 1Q25
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A enda g

Welcome

Welcome Miin Wu 1Q25 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

 The final year of Switch 1 generated limited game titles revenue

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Density shipment index: 1Q19 =100
600
545
483
406
383 [394 ] 386
400 368
348
331
307
290 292
280
256
248
222
214
193
176
200
159
147
117
100 91 95
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
2019 2020 2021 2022 2023 2024 2025
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Business U date - NOR p

 NOR business

• Well diversified clients’ demand contributed stable sales

• All new ArmorBoot MX76* for security and high performance in automotive/IoT markets

Density shipment index: 1Q20 =100 ≧75 nm 55 nm 200

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150
139
117 [126 ] 117
105
100
100
100 94 92 90 86 87 93
73 76
68
66 66
57 56
0
1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q
2020 2021 2022 2023 2024 2025
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Note:*Digitimes (2025/4/8) “Macronix introduces all new ArmorBoot MX76 to meet demand for security and high performance in AI, smart healthcare, and automotive IoT markets

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The Best Flash Solution for Automobile A lications pp

 Auto business

• The stable growth from automotive innovations provide quality revenue and design–in opportunities during the macro economical uncertainty

NOR Flash by Automotive Density shipment Index: 1Q20 =100

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300
212
200
183 180 176
164
154 [164] 150 165
138 140 [150]
150 124 121 130 133 133
100 99
87
0
1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q
2020 2021 2022 2023 2024 2025
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Business Update NOR – Quarterly (Parent Company)

4Q24 NOR Revenue Breakdown 1Q25 NOR Revenue Breakdown

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Comm, Comm,
Consumer, Consumer,
18% 18%
8% Auto, 9%
Computer, Computer, Auto,
22%
33% 33% 22%
I.M.A., I.M.A.,
19% 18%
Computer Consumer Communication Automotive I.M.A
+15% QoQ +32% QoQ +17% QoQ +17% QoQ +16% QoQ
+43% YoY +13% YoY +38% YoY -4% YoY +0% YoY
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Note ：[] Comm: including handsets ；[*] I(Industrial), M(Medical), A(Aerospace-defense)

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Business U date - SLC NAND p

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19 nm
Density shipment index: 1Q23 =100
≧36 nm
292
300
230
195
185
200
169
159
149
134
100
100
0
1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q
2023 2024 2025
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Welcome

Welcome Miin Wu 1Q25 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

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