MHC — Investor Presentation 2021

Nov 24, 2021

MITAC HOLDINGS CORPORATION Online Investor Conference

November 24[th] , 2021

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Safe Harbor Notice

This presentation may contain forward-looking statements. These forward-looking statements reflect the current expectations, assumptions, estimates and projections regarding the anticipated developments and other factors based upon the information now available to us. These forward-looking statements are not historical facts, nor are the guarantees of future performance and are subject to risks, uncertainties and other factors. Consequently, actual results could differ materially from those contained, expressed, implied or forecasted in these forward-looking statements. There are factors that could cause actual results to differ materially from those reflected in these forward-looking statements.

The financial information contained here within in presented in conformity International Financial Reporting Standards (IFRSs).

Except as imposed by law, we undertake no obligation to publicly revise or update these forward-looking statements, whether as a result of new information, future events or otherwise.

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• Company Update Billy Ho, President and Spokesperson

• Financials Doris Huang, VP of Finance and Deputy Spokesperson

• Cloud and Edge Computing Business Michael Lin, President of MCT

• Automotive and A-IoT Business Steve Chang, President of MDT

• Q&A

MCT: Mitac Computing Technology Corp. MDT: Mitac Digital Technology Corp.

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Financials

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2021 1Q~3Q Products Profile (Consolidate)

MIC 8.5%

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BU Amount %
MCT 26,585 81.2%
MDT 3,394 10.3%
MIC 2,775 8.5%
Total 32,754 100%
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MDT10.3%
MCT 81.2%
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Unit: NT$ Million

MCT: MiTAC Computing Technology Corp. MDT: MiTAC Digital Technology Corp. MIC: MiTAC International Corp.

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MCT MDT MIC

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Income Statement

Unit: NT$ Million

Item	2019	2020		YOY(%)	2020YTD	2021YTD	YOY(%)
Operating Revenues	35,832	41,146		15%	31,119	32,754	5%
Gross Profit	5,190	4,625		(11%)	3,684	3,195	(13%)
Gross Profit %	14.48%	11.24%			11.84%	9.75%
Operation Expense	4,689	4,551		(3%)	3,494	3,223	(8%)
Operation Expense %	13%	11%			11%	10%
Operation Income (Loss)	501	74		(85%)	190	(28)	(115%)
Operation Income (Loss)%	1.40%	0.18%			0.61%	(0.09%)
Non-Op Income	2,582	2,906		13%	1,867	18,089	869%
Income Before Tax	3,083	2,980		(3%)	2,057	18,061	778%
Tax	(309)	(129)			(116)	(6,639)
Net Income (Loss)	2,774	2,851		3%	1,940	11,422	489%
EPS (NTD)	2.37	2.45		3%	1.68	9.56	469%

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Long-term Investment TD SYNNEX (SNX)

SYNNEX + Tech Data TD SYNNEX on September 1[st]

 According to IFRS, the investment was changed from “Equity Method” to “Financial assets at fair value through other comprehensive income” after the merger due to a reduced shareholding ratio. After recognizing the one-time gain of NT$ 12.8 billion, the net unrealized gain after related tax accrual was NT$ 6.8 billion/ EPS$ 5.68 . The gain was estimated based on fair market value.

• From 2021Q4: Generate dividend income around NT$ 30 million per quarter

 No other gain & loss generated to P&L

 No other gain & loss generated to P&L	 No other gain & loss generated to P&L	 No other gain & loss generated to P&L	 No other gain & loss generated to P&L	 No other gain & loss generated to P&L
 Holding SNX shares: stock price only reflect to book-value.  Disposal SNX shares: stock price only reflect to book-value.
Income Statement			Balance Sheet
Non-Op Income			Shareholder Equity
Item	Q1~Q3	From Q4	Q1~Q3	From Q4
Equity Method	NT$ 790 million	–	Book Value (SYNNEX)	Market value (TD SYNNEX Stock Price)
Unrealized Gain	NT$ 12.8 billion	–
Dividend Income	–	NT$ 30 million/per quarter(depends on SNX’s dividendpolicy)
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Profitability Analysis

Revenue

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NT$ Million Growth Rate %
17%
15%
40,000
41,146
30,000 35,832
32,754
20,000
10,000
0
2019 2020 2021Q3YTD
Net Income
NT$ Million
6,783
4,639
2,774 2,851
2019 2020 2021Q3 YTD
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Gross Profit

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NT$ Million GP% %
14%
11%
10%
5,190
4,625
3,195
2019 2020 2021Q3YTD
EPS
NT$
5.68
3.88
2.37 2.45
2019 2020 2021Q3 YTD
MHC 認列Synnex 轉換利益Unrealized gain from TD SYNNEX
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MHC 認列Synnex 轉換利益Unrealized gain from TD SYNNEX

Balance Sheet

Unit: NT$ Million

Item	2019.12.31	2020.12.31	2021.09.30
Cash and Cash Equivalents	6,665	5,805	6,634
Current Assets	23,189	21,982	25,317
Long-term Investments	22,167	25,173	35,988
Property, Plant and Equipment	7,811	7,753	7,516
Total Assets	55,410	57,172	71,075
Current Liabilities	14,103	12,522	13,514
Non-current Liabilities	1,753	1,889	8,038
Share Capital	10,773	12,066	12,066
Total Equity	39,555	42,761	49,523
Total Liabilities and Stockholders'Equity	55,410	57,172	71,075

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Capital Structure and Liquidity Analysis

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187% Quick Ratio
176%
164%
Current Ratio
106% 105%
99%
44%
40% Debt to Equity
34%
29% 30%
25% Debt Ratio
2019 2020 2021Q3
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Operating Performance Analysis

Receivables Turnover(Days)

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61
53
45
2019 2020 2021Q3
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Inventory Turnover (Days)

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99 97
92
2019 2020 2021Q3
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Payable Turnover (Days)

Cash Turnover (Days)

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93
88
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67
63 62
2019 2020 2021Q3
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2020
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75
2021Q3
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2019

Cloud and Edge Computing Business

Front-end Server Edge Server

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Open Radio Area Network (O-RAN) for 5G

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Front-end Server

Public Cloud

Software-Defined Storage (SDS)

HPC/AI Server

Private Cloud Enterprise Server Enterprise Storage

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To Client Devices

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Automotive and A-IoT Core Value Transformation Through Uncertainty & Volatility

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• Mio/ODM

• AM/DOP/MOP

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DVR

Innovation

Thoughtful Design

Quality

• CE/Online/Car dealer

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Connected DVR Smart Lighting

Professional Tablet

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 B2B ➤ VSP/FSP/DMS  B2B2C ➤ Insurance

• Mio/Private Label/ODM

• Vehicle/Hospitality/WMS…

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 ODM/EMS
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Mitac IR Website: https://www.mitac.com/en-global/investors_overview/index https://www.mitac.com/en-global/quarterly_statement/index/ Quarterly Financial Statements:

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