Primax — Interim / Quarterly Report 2022

Jun 13, 2022

PRIMAX ELECTRONICS QUARTERLY FINANCIAL RESULTS | TAIWAN | 28 APRIL 2022 For More Information Please Contact

Ellen Tseng Director | Investor Relations | Taiwan IR@primax.com.tw Dave Chiou Investor Relations | Taiwan

投資人關係 致伸科技 2022 第一季財務報告

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PRIMAX | COPYRIGHT © 2022 PRIMAX ELECTRONICS

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INVESTOR RELATIONS & QUARTERLY UPDATE I 1
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PRIMAX ELECTRONICS QUARTERLY FINANCIAL RESULTS | TAIWAN | 28 APRIL 2022

Primax Speakers

Raymond Liang Chairman | Taiwan

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Chairman | Taiwan
Meeting Agenda
YY Hsiao
Senior Vice President | CFO |
Taiwan Quarterly Results
& Update
20’
Trends & Growth
Opportunities
20’
Investor Questions
& Feedback
15’
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Safe Harbor And Disclaimer

致伸科技 的簡報包含具有重大風險和不確定性的前瞻性聲明。前瞻性陳述通常 與未來的事件或未來的財務或經營業績有關。在這種情況下，您可以識別前瞻 性語句，因為它們包含諸如「可能」之類的單詞，「將會」、「應該」、「預 期」、「計畫」、「預測」、「可能」、「打算」、「目標」、「專案」、 「盤算」、「相信」、「估計」、「預估」、「潛在」或「繼續」，或這些詞 或其他類似的術語或這些意思相反或負面的詞，涵蓋我們的期望、策略、計畫 或意圖。

由於一些重要因素造成的風險和不確定性，實際結果可能與前瞻性聲明中所包 含的內容有重大差異。這些因素包括但不限於 : 致伸科技競爭激烈的環境、致 伸科技業務的週期性性質、致伸科技開發新產品的能力、以及致伸科技在新業 務發展中的成功執行等等。

本簡報中的所有前瞻性聲明都是根據截至目前可獲取資訊為基礎的，致伸科技 不承擔任何義務更新這些前瞻性聲明，及更新未來的事件。同樣的，致伸科技 也不承擔任何義務更新實際結果可能與前瞻性聲明中預期的內容有重大差異的 原因，即使將來致伸科技取得新的資訊。

Copyright © 2022 Primax Electronics

INVESTOR RELATIONS & QUARTERLY UPDATE I 2

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致伸科技第一季亮點

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季營收 (NTD 百萬 ) 年營收 (NTD 百萬 )
20,374
第一季合併營收 19,559
80,650
為 NTD 178.9 億 18,907 17,159 17,669 17,894 68,241 71,650
年增率 4% 16,251 16,448 64,329 60,742 64,811
13,524
第一季每股盈餘
為 NTD 1.23
年增率 9%
1Q20 2Q20 3Q20 4Q20 1Q21 2Q21 3Q21 4Q21 1Q22 2016 2017 2018 2019 2020 2021
季營收年成長率 (%) 季營收季成長率 (%)
• 視覺需求主要來自於強勁汽車 ADAS 與
警用相機，產品結構的調整 27%
20%
16% 15%
• 智慧裝置介面年增率放緩主因去年第 7%
3%
一季的高基期 4% 4%
1%
1Q20 2Q20 3Q20 4Q20 1Q21 2Q21 3Q21 4Q21 1Q22
• 商業設備需求相對去年持平 1Q20 2Q20 3Q20 4Q20 1Q21 2Q21 3Q21 4Q21 1Q22
-12% -12%
-4%
-1% -7%
-3%
•
因零組件缺料趨緩，聲學第一季度營
-22% -46%
收回穩 -25%
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INVESTOR RELATIONS & QUARTERLY UPDATE I 3

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致伸科技財務簡覽表

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致伸第一季亮點─稅前利益、毛利率、營業利益率、每股盈餘、股東權益報酬率、資產報酬率
稅前利益 毛利率 營業利益率 每股盈餘 稅後利益率 稅後利益率
年增率 (%) (%) (%) 年增率 (%) (%) 年增 ( 百分點 )
8.4% 12.6% 3.4% 8.8% 3.0% +0.1
季度每股盈餘 ( NTD ) 股東權益報酬率 & 資產報酬率 (%)
1.72 1.73 17.2% 2016 2017 2018
1.5 16.3%
1.35 1.37 15.4% 15.0% 2019 2020 2021
1.13 1.13 1.13 1.23 13.7% 13.0%
0.93
0.8 0.82
0.62
5.4% 5.9% 4.8% 5.0% 4.2% 4.6%
1Q19 2Q19 3Q19 4Q19 1Q20 2Q20 3Q20 4Q20 1Q21 2Q21 3Q21 4Q21 1Q22
因視覺影像 ( 車用 ADAS 和警用相機 ) 需求強勁，帶動致伸科 致伸 2016-2021 致伸 2016-2021
技第一季度營業獲利的成長 股東權益報酬率 資產報酬
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INVESTOR RELATIONS & QUARTERLY UPDATE I 4

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致伸科技損益表

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毛利率 (%)
13.5%
13.3%
13.0% 13.0%
12.5% 12.6%
11.3% 11.7%
11.3%
1Q20 2Q20 3Q20 4Q20 1Q21 2Q21 3Q21 4Q21 1Q22
營業利益率 (%)
4.7% 4.2%
4.1% 4.0% 4.0%
3.4% 3.4%
2.4%
1.5%
1Q20 2Q20 3Q20 4Q20 1Q21 2Q21 3Q21 4Q21 1Q22
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(NTD 百萬)	1Q 2022	4Q 2021	1Q 2021	QoQ	YoY
淨營收	17,894	20,374	17,160	-12.2%	4.3%
銷貨成本	15,643	17,717	15,013
營業毛利	2,252	2,657	2,148	-15.2%	4.8%
毛利率(%)	12.6%	13.0%	12.5%	-0.4 ppt	0.1 ppt
營業費用	1,639	1,832	1,556	-10.5%	5.3%
營業費用率(%)	9.2%	9.0%	9.1%	0.2 ppt	0.1 ppt
營業利益	613	825	592	-25.7%	3.5%
營業利益率(%)	3.4%	4.0%	3.4%	-0.6 ppt	0.0 ppt
業外收益	74	(92)	42
稅前利益	687	733	634	-6.3%	8.4%
所得稅	144	155	133
淨利	543	578	501	-6.1%	8.4%
淨利率(%)	3.0%	2.8%	2.9%	0.2 ppt	0.1 ppt
淨利歸屬母公司業主	552	510	505	8.2%	9.3%
每股盈餘(NTD)	1.23	1.13	1.13	8.8%	8.8%

INVESTOR RELATIONS & QUARTERLY UPDATE I 5

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致伸科技資產負債表

流動比率 & 負債比 (%)

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126% 121% 120% 125% 125%
64% 72% 71% 67% 69%
1Q21 2Q21 3Q21 4Q21 1Q22
Current Ratio Total Liabilities-To-Assets Ratio
1Q22 資產負債表指標 ( 日 )
應收帳款天數 應付帳款天數
70 101
庫存天數 現金轉換週期
80 49
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	(NTD 百萬)	1Q 2022	4Q 2021	3Q 2021	2Q 2021	1Q 2021
	現金	7,529	4,839	5,176	5,127	6,167
	應收帳款與票據	13,811	13,375	14,007	13,207	12,145
	庫存	14,257	13,165	12,709	11,225	10,242
	流動資產	42,796	35,729	40,288	40,748	39,547
	固定資產	7,933	7,605	7,333	6,601	6,497
	總資產	56,927	49,474	53,934	53,590	52,645
	應付帳款與票據	17,078	17,693	15,965	14,556	15,205
	短期借款	8,837	2,031	9,975	10,334	8,662
	其他 流動負債	449 34,283	435 28,532	288 33,528	275 33,644	121 31,316
	長期借款	1,604	1,026	1,112	1,147	1,334
	總負債	39,287	38,202	38,518	36,707	31,806
	股東權益	17,640	16,442	15,731	15,072	15,939
	淨負債權益比(%)	17%	-11%	38%	42%	24%

INVESTOR RELATIONS & QUARTERLY UPDATE I 6

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致伸科技現金流量表

	營運活動現金流量(NTD百萬) 資本支出(NTD百萬) 2,268 3,412 1,787 6,628 4,816 1,673 2016 2017 2018 2019 2020 2021 1,034 1,202 1,913 3,485 2,689 3,019 2016 2017 2018 2019 2020 2021	1Q22 YTD 2Q21 YTD 1Q21 YTD 4Q21 YTD 3Q21 YTD (NTD 百萬)
	營運活動現金流量(NTD百萬) 資本支出(NTD百萬) 2,268 3,412 1,787 6,628 4,816 1,673 2016 2017 2018 2019 2020 2021 1,034 1,202 1,913 3,485 2,689 3,019 2016 2017 2018 2019 2020 2021
		營業活動之現金流量 (1,816) 1,673 (7,198) (10,500) (1,362)
		- 稅前淨利 687 3,030 2,297 1,429 634
		- 折舊與攤提 464 1,941 1,475 1,000 515
		- 應收票據與帳款 (347) 216 (425) 373 1,434
		- 應付票據與帳款 (616) (1,308) (3,036) (4,445) (3,796)
		- 庫存 (116) (3,079) (2,563) (1,015) 14
		- 其他營業活動 (1,889) 873 (4,946) (7,842) (163)
		投資活動之現金流量 (3,162) (3,874) (2,562) (1,148) (7,727)
		- 固定資產 (453) (3,019) (2,490) (1,157) (533)
		- 其他投資活動* (2,709) (811) (72) 9 (7,193)
		財務活動之現金流量 7,341 227 8171 9,969 8,390
		- 短期借款 6,806 1,126 9,070 9,429 7,757
		- 長期借款 593 705 645 666 700
		- 現金股利 (1,355) (1,355)
		- 其他財務活動 (58) (249) (189) (126) (66)
		本期淨現金增加數 2364 (1,973) (1,589) (1,678) (699)
		匯率變動之影響 326 (123) (170) (130) (70)
		期初現金餘額 4,839 6,935 6,935 6,935 6,935
		期末現金餘額 7,529 4,839 5,176 5,127 6,167

Note: *金融資產之攤銷後成本

INVESTOR RELATIONS & QUARTERLY UPDATE I 7

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致伸科技營收比重

營收比重能更有效的呈現致伸成長動能、未來趨勢

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新分類比重 * 由於四捨五入加總不一定是 100%
6% 8% 6% 7% 6% 6% 6% 8% 10% 9% 9% 11% 13% 16% 18% 16% 21%
37% 40% 48% 50% 38% 43% 60% 57% 34% 37% 37% 47% 26% 24% 24% 38% 26%
56% 52% 45% 43% 56% 51% 35% 36% 56% 54% 54% 41% 61% 60% 59% 46% 53%
1Q18 2Q18 3Q18 4Q18 1Q19 2Q19 3Q19 4Q19 1Q20 2Q20 3Q20 4Q20 1Q21 2Q21 3Q21 4Q21 1Q22
Information Products Smart Lifestyle Auto / Industrial AIoT
(Growth YoY, %) 1Q18 2Q18 3Q18 4Q18 1Q19 2Q19 3Q19 4Q19 1Q20
2Q20 3Q20 4Q20 1Q21 2Q21 3Q21 4Q21 1Q22 71.1%
新分類更能呈現成長動能、
未來趨勢 54.5%
20.0%
8.0%
-7.7%
-13.5%
Information Products Smart Lifestyle Auto / Industrial AIoT
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INVESTOR RELATIONS & QUARTERLY UPDATE I 8

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─ 產品組合與應用 新分類

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產品新分類組合
PC Peripheral Keyboard Module (KBM) Optoelectronics (OME) Printer MFP
資訊產品
Gaming NB Camera Wireless Charging / Docking
Smartphone Camera TWS (True Wireless Stereo) Smart Speaker
智慧生活
Finger Print Module Headphone Consumer Speaker
Auto Camera Fleet Camera Conference & Content Audio Driver
車電 / 工業物聯
Body Camera / Non-Phone Camera Smart IOT Device (SID) Professional Audio / Speaker
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INVESTOR RELATIONS & QUARTERLY UPDATE I 9

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致伸科技營收比重

舊分類營收比重是以產品別做分類，較難呈現致伸成長動能

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舊分類比重 * 由於四捨五入加總不一定是 100%
16%11%31% 16%13%35% 15%10%44% 11%49%8% 10%38%9% 10%10%43% 54%8% 55%7% 13%10%35% 18%34%6% 14%37%4% 12%51%5% 14%30%6% 15%29%5% 14%32%6% 12%45%6% 18%34%5%
14% 12%
42% 37% 32% 31% 43% 36% 24% 26% 42% 43% 45% 32% 51% 51% 48% 37% 43%
1Q18 2Q18 3Q18 4Q18 1Q19 2Q19 3Q19 4Q19 1Q20 2Q20 3Q20 4Q20 1Q21 2Q21 3Q21 4Q21 1Q22
Interface VT Business Equipment Audio
(Growth YoY, %) 1Q18 2Q18 3Q18 4Q18 1Q19 2Q19 3Q19 4Q19 1Q20
2Q20 3Q20 4Q20 1Q21 2Q21 3Q21 4Q21 1Q22
舊分類部門營收年增率
起伏較大，也較難呈現
成長動能 41.8%
26.2% 11.2% 29.2% 20.4%
-9.5% -2.0% -5.8%
Interface Visual Technology Business Equipment Audio And Speakers
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INVESTOR RELATIONS & QUARTERLY UPDATE I 10

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─ 產品組合與應用 舊分類

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2021
產品組合 歷史區界
營收比重
29-48% 47
智慧裝置介面 Smart Lock Wireless Docking Gaming Mouse Mouse & Keyboard Gaming Controller [Smart Remote] Trackpad
Charging & Keyboard
14-30% 13
視覺影像 Dash Camera Police Body Camera ADAS Camera Camera Module Multi-Camera Ultra-Slim 360 Cam 4K 360 Cam
6-13% 6
商用設備 Surveillance MFP Thermal Printer Scanner / ADF Mobile Photo Printer
15-51% 34
聲學 Conference TWS Headphones Smart Portable Home Audio Loud Speaker Transducer
Products Speaker Speaker
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INVESTOR RELATIONS & QUARTERLY UPDATE I 11

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致伸科技現金股利、殖利率、財務報告行事曆

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每股現金股利 ( NTD )
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現金股利發放率 & 殖利率 (%)

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69% 70%
3.20 3.00 3.10 57% 58% 60%
2.50 2.40 2.40 50% 30
5.2% 5.3% 5.5%
4.0% 4.4% 5.0% 5.0% 除 2021 以 2022 年 4
月 25 日收盤價計算，
殖利率全部基於 6 月
30 日收盤價
2016 2017 2018 2019 2020 2021 2016 2017 2018 2019 2020 2021
2022 財務報告行事曆及公司治理與 ESG 獎章
公司治理與
4Q 2021 & Annual Results Annual General Meeting * Dividend Payment 4Q 2022 Results
ESG 獎章
February 15, 2022 May 26, 2022 TBD TBD
• 台灣上市公司治理評鑑前
5%
(2016, 2017, 2019, 2020)
• TCSA 綜合績效獎 - 臺灣
• TOP50 永續企業獎、企業
1Q 2022 Results 2Q 2022 Results 3Q 2022 Results 永續報告獎白金獎
April 28, 2022 July 28, 2022 October 27, 2022
• SGS 永續菁英獎
Expected Date
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INVESTOR RELATIONS & QUARTERLY UPDATE I 12

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致伸科技 2022 第二季營運展望

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||||||||||
|---|---|---|---|---|---|---|---|---|
|2022 第二季營收展望|2022 第二季獲利展望|
|營收|成長動能|備註|獲利|成長動能|備註|
||第二季度營收將呈現年成長||第二季度獲利呈現年成長，營業|
|營收展望||新產品的的推出，|2Q22 營收升溫|獲利展望|利益率也將較2Q21高|
||新事業群人才投資，營業費仍高|
|智慧裝置||印表機及多功能事務機的需求在|智慧裝置||智慧裝置毛利率維持|
|介面|/|商用|第二季將呈現強勁成長|介面|/|商用||商用設備毛利率較公司平均毛利|
|設備||Forcepad 在筆電的普及|設備|率高|
||警用相機需求強勁||因產品組合，毛利率增加|
|視覺影像||車用|ADAS 相機模組需求強|視覺影像||營業利益率因規模會有較顯著的|
|改善|
||專注在專業音響等高毛利產品||2Q22 消費產品比例高於|1Q22|
|聲學產品||零組件缺料造成產品出貨遞延已|聲學產品||目標為每年提升專業音響營收比|
|漸漸減緩|重|
||致伸科技收成年||新事業|/|產品有較高的毛利率，|
|新事業|/||新產品將在三月陸續推出，下半|新事業|/|但缺乏規模|
|產品|年將會有較顯著的貢獻|產品||專注在獲利，減少低毛利產品|

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INVESTOR RELATIONS & QUARTERLY UPDATE I 13

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、 致伸科技綜覽 長期成長策略與核心競爭力

Primax – A Long-Term Proven Growth Story With Unique Positioning And Core Competency

	1984 成立，長期成長策略為 三感合一策略 附加價值優於規模 2021 集團數字 營收新台幣716.5億 淨利新台幣23.7億 Primax At A Glance → 全球員工 全球員工17,000+ 穩健財務績效 現金流強勁的本業 高股東權益報酬率─5年平均14.6%) 公司治理&永續投資(ESG) * 公司治理評鑑前5% (2016, 2017, 2019, 2020) 複合成長率1989-2021 營收15% 淨利14% 穩定收益 50%+股利發放率 4-6%殖利率 ESG Section* For More Details**	1984 成立，長期成長策略為 三感合一策略 附加價值優於規模 2021 集團數字 營收新台幣716.5億 淨利新台幣23.7億 Primax At A Glance → 全球員工 全球員工17,000+ 穩健財務績效 現金流強勁的本業 高股東權益報酬率─5年平均14.6%) 公司治理&永續投資(ESG) * 公司治理評鑑前5% (2016, 2017, 2019, 2020) 複合成長率1989-2021 營收15% 淨利14% 穩定收益 50%+股利發放率 4-6%殖利率 ESG Section* For More Details**	1984 成立，長期成長策略為 三感合一策略 附加價值優於規模 2021 集團數字 營收新台幣716.5億 淨利新台幣23.7億 Primax At A Glance → 全球員工 全球員工17,000+ 穩健財務績效 現金流強勁的本業 高股東權益報酬率─5年平均14.6%) 公司治理&永續投資(ESG) * 公司治理評鑑前5% (2016, 2017, 2019, 2020) 複合成長率1989-2021 營收15% 淨利14% 穩定收益 50%+股利發放率 4-6%殖利率 ESG Section* For More Details**	1984 成立，長期成長策略為 三感合一策略 附加價值優於規模 2021 集團數字 營收新台幣716.5億 淨利新台幣23.7億 Primax At A Glance → 全球員工 全球員工17,000+ 穩健財務績效 現金流強勁的本業 高股東權益報酬率─5年平均14.6%) 公司治理&永續投資(ESG) * 公司治理評鑑前5% (2016, 2017, 2019, 2020) 複合成長率1989-2021 營收15% 淨利14% 穩定收益 50%+股利發放率 4-6%殖利率 ESG Section* For More Details**	1984 成立，長期成長策略為 三感合一策略 附加價值優於規模 2021 集團數字 營收新台幣716.5億 淨利新台幣23.7億 Primax At A Glance → 全球員工 全球員工17,000+ 穩健財務績效 現金流強勁的本業 高股東權益報酬率─5年平均14.6%) 公司治理&永續投資(ESG) * 公司治理評鑑前5% (2016, 2017, 2019, 2020) 複合成長率1989-2021 營收15% 淨利14% 穩定收益 50%+股利發放率 4-6%殖利率 ESG Section* For More Details**
	3 Senses In 1 Uniquely Positioned Long History of Re-Investing ODM Design Service Provider Moving Away From Low Value Add Diversifying To Mitigate Risks
	三感合一策略 附加價值優於規 模 一站式解決方案 供應商 視覺影像，聲學， 人機介面	1984年以來長期 優良紀錄 藉產品生命週期轉 變達成 新技術發展	定位為關鍵(go to) ODM設計服務供 應商 原廠委託設計服 務供應商 彈性方法和雄厚 的長期客戶關係	遠離me-too生意 往高毛利產品 尋找需要長期與可 靠的硬體供應商的 雲端服務供應商為 客戶	中國、泰國與捷 克製造 新加坡財務中心 美國早期參與研發 工程團隊 英國研發中心及台 灣研發與試產地點

INVESTOR RELATIONS & QUARTERLY UPDATE I 14

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三感合一硬體解決方案供應商

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Using 3 Senses In 1 To Become An Unique Hardware Solutions Provider
Work From Home IoT / AIoT Smart Home Auto Related & EV New Audio
Conference, Webcam Fleet Management, Smart Smart Access (Smart Lock, Car ADAS (Visual), Car Audio Hearing Aid, New Variation Of
Access, Police Body Camera, Smart Doorbell) Audio
Surveillance
3 Sense In 1 Smart Homes Smart Speakers Smart Factories
Audio, visual and interface
5G & AIoT Trend
Smart = Sensor Based Interactive Hardware + High Smart Cities & Offices Smart Phones Smart Cars
Speed Connectivity (5G) + Cloud Based Service + AI
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INVESTOR RELATIONS & QUARTERLY UPDATE I 15

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智慧裝置介面成長來自物聯網應用

Intelligent Interface Sales Contribution To Primax

Intelligent Interface Highlights For The Year

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2020 Sales As A 2021 Sales As A Historical Range As
2022 Key Highlights And Main Strategies
Percent Of Total (%) Percent Of Total (%) Percent Of Total (%)
 Expecting higher wallet share for keyboard module
 Higher forcepad penetration in Windows NB will translate to
39 47 29-48
increased sales and improve margins
 New businesses such as content creation products provide growth
Tuning Integration
Capability DATA Capability Compatibility
COMPUTI NG SENSING POWER
TRANSFER
3 Senses In 1
Provides Full
CORE TECHNOLOGY SMARTER INTERFACE
Integration And
AET & LAB 2.0 DEVICES
Compatibility
SMART CONTENT
MOUSE KEYBOARD TRACKPAD DOCKING WEBCAM
ACCESS CREATION
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INVESTOR RELATIONS & QUARTERLY UPDATE I 16

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高附加價值視覺影像

Visual Technology Sales Contribution To Primax

Visual Technology Highlights For The Year

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2020 Sales As A 2021 Sales As A Historical Range As
2022 Key Highlights And Main Strategies
Percent Of Total (%) Percent Of Total (%) Percent Of Total (%)
 Car ADAS demand would remain strong existing and new clients
 2022 could be a harvest year for new projects
14 13 14-30
 While gross margin would see marginal improvement, operating
margin would continue to improve significantly from scale
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Vertical Integration Expanding To New Realms Full spectrum of integration Robot, machine vision, and Capability: optical, ME, EE, FW, audio wearable (AR / VR) and video, and RF

Module And Systems Vertical Integration From module to system / sub-system Full spectrum of integration Capability: optical, ME, EE, FW, audio and video, and RF Value Add Products New Promising Projects Focus on profit over quantity Automotive (car ADAS), fleet management, surveillance, and Higher value add / higher ASP / conference mid-volume

• Visual Technology The Winning Strategy

• • Diversifying into nonsmartphone CCM

• Focus on auto, surveillance, conference, and door lock and doorbell

• Expanding into industrial and wearables for future long-term growth

INVESTOR RELATIONS & QUARTERLY UPDATE I 17

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商用設備跨足運動及監視產品

Business Equipment Sales Contribution To Primax

Business Equipment Highlights For The Year

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2020 Sales As A 2021 Sales As A Historical Range As
2022 Key Highlights And Main Strategies
Percent Of Total (%) Percent Of Total (%) Percent Of Total (%)
 Cash cow business with higher than corporate average margins
and limited competition
6 6 6-13
 Back to office and hybrid work trend pushed up demand
 Expanding into fitness segment and surveillance for growth
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Diversification Into Other Businesses

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Fitness Equipment And Surveillance Are Future Growth Drivers

• Growing health awareness = opportunity to become a long-term hardware provider for customers

• Higher ASP with higher margins for fitness products

• A few new customers in 2022 and expecting more

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聲學產品具優越定位

Audio Sales Contribution To Primax

Audio Highlights For The Year

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2020 Sales As A 2021 Sales As A Historical Range As
2022 Key Highlights And Main Strategies
Percent Of Total (%) Percent Of Total (%) Percent Of Total (%)
 A focus on higher margin products
 Increase professional audio, high-end consumer audio and
42 34 15-51
transducers to improve margins
 Penetration into the auto industry is the next big thing
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IoT And Transducers

Professional Audio

Speaker And OTE Headphone

Automated manufacturing process + acoustic expertise

Events, concerts, studio, commercial, and other audio equipment

Be the go to supplier for major international brands, where the industry’s entry barrier is based on scale and expertise

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TWS (True Wireless Stereo)

Conference Products And Live Sound

Automotive

Primax + Tymphany synergy is well positioned to capture market growth opportunity

Robust market growth opportunity and a proven track record

EV and ADAS driven New EV startups and traditional auto manufacturers or tier-one suppliers

Tymphany Is A Market Leader In The Audio Segment Offering A Full Range Of Products

INVESTOR RELATIONS & QUARTERLY UPDATE I 19

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致伸科技主要投資觀點

	Margin And Profit Expansions Better product and customer mix Increase new businesses and focus on low-medium volume but higher margin and / or ASP products Growth Opportunities 3 senses in 1 strategy Car electronics (EV / ADAS / audio), fleet management Surveillance, smart door lock and doorbell and smart access Capitalizing On Mega Trends AIoT, smart home, 5G / cloud / AI, auto, new audio and fitness equipment Wearables (AR / VR) and robotics (industrial applications) Sustainability, ESG And CSR Management has strong commitment to CSR / ESG Primax is often ranked as one of the best CSR /ESG listed entities in Taiwan Capital Deployment Increase dividend payout Less capex and strong free cash flow generating ability Prudent M&A plans and less impairment losses Shareholder Return Historically paid out 50-70% of earnings as cash dividend Cash dividend yield of 4-6% ROIC > 13% and ROE at about 15% Key Investment Thesis Why Primax? Key Investment Thesis Why Primax?	Margin And Profit Expansions Better product and customer mix Increase new businesses and focus on low-medium volume but higher margin and / or ASP products Growth Opportunities 3 senses in 1 strategy Car electronics (EV / ADAS / audio), fleet management Surveillance, smart door lock and doorbell and smart access Capitalizing On Mega Trends AIoT, smart home, 5G / cloud / AI, auto, new audio and fitness equipment Wearables (AR / VR) and robotics (industrial applications) Sustainability, ESG And CSR Management has strong commitment to CSR / ESG Primax is often ranked as one of the best CSR /ESG listed entities in Taiwan Capital Deployment Increase dividend payout Less capex and strong free cash flow generating ability Prudent M&A plans and less impairment losses Shareholder Return Historically paid out 50-70% of earnings as cash dividend Cash dividend yield of 4-6% ROIC > 13% and ROE at about 15% Key Investment Thesis Why Primax? Key Investment Thesis Why Primax?
	Growth Opportunities
	Capitalizing On Mega Trends
	Margin And Profit Expansions	Management has strong commitment to CSR / ESG Primax is often ranked as one of the best CSR /ESG listed entities in Taiwan

INVESTOR RELATIONS & QUARTERLY UPDATE I 20

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致伸科技永續經營及 ESG 承諾

Primax Management ─ A Long-Term Dedicated Commitment To Sustainability

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Sustainable ESG And
Authorization Negotiation
Green Commitments
 Dedicated Sustainability and ESG office led by Chairman, with annual
Board of ESG Office Stakeholders
reports submitted to Board of Directors regularly
Directors
 Publish certified sustainability annual reports in Chinese and English
Approval Recommendation
& Execution
 Transparent quarterly and regular financial disclosures in Chinese and
English
Report
Sustainability Primax Worldwide  Establish system for long-term traceable trend and sustainable strategy
Policy Internal Departments on environmental (manufacturing) and social (labor) issues
FSC Corporate Taiwan TCSA CommonWealth HR Asia Best ISS And RobecoSAM SGS CSR Reporting RBA Standards &
Governance Award Sustainability Award ESG Award Company Award Participation Award Implementation
Ranked top 5% among all TCSA Taiwan CSR Ranked by Common HR Asia award as one of Participated in global ESG SGS annual Sustainability Reduce carbon emission,
listed entities by Sustainability Platinum Wealth Magazine as one the best companies to evaluation programs for Platinum Award for CSR power consumption and
Taiwan’s FSC as best Award ranking top 50 of Taiwan’s best ESG work for in Asia in 2021 assessment of reporting improve labor
corporate governance among all listed company (top 50 award) sustainability impact of environment to meet
(2016, 2017, 2019, 2020) companies operations RBA standards
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INVESTOR RELATIONS & QUARTERLY UPDATE I 21

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致伸科技對環境保護的承諾

Primax Goals Achievements Certifications	Greenhouse Gas Energy Consumption Green Environment Carbon Emission Water Intensity	Greenhouse Gas Energy Consumption Green Environment Carbon Emission Water Intensity	Greenhouse Gas Energy Consumption Green Environment Carbon Emission Water Intensity	Greenhouse Gas Energy Consumption Green Environment Carbon Emission Water Intensity	Greenhouse Gas Energy Consumption Green Environment Carbon Emission Water Intensity	Greenhouse Gas Energy Consumption Green Environment Carbon Emission Water Intensity	Greenhouse Gas Energy Consumption Green Environment Carbon Emission Water Intensity	Greenhouse Gas Energy Consumption Green Environment Carbon Emission Water Intensity	Greenhouse Gas Energy Consumption Green Environment Carbon Emission Water Intensity	Greenhouse Gas Energy Consumption Green Environment Carbon Emission Water Intensity	Greenhouse Gas Energy Consumption Green Environment Carbon Emission Water Intensity	Greenhouse Gas Energy Consumption Green Environment Carbon Emission Water Intensity	Greenhouse Gas Energy Consumption Green Environment Carbon Emission Water Intensity	Greenhouse Gas Energy Consumption Green Environment Carbon Emission Water Intensity
	Setting stringent greenhouse gas (GHG) targets with deadlines
				Long-term committed targetaiming to be carbon neutral by 2050			Water conservation methods implemented in buildings and factories			Aims of cutting energy consumption while lifting ratio of renewables			Cutting hazardous substance usage and effective management
	Total GHG emissions by Primax Group is down 33.47% since 2013 (base year) GHG emission intensity down 1.42% since 2019 3.5M KWh of electricity were offset in 2020 or the equivalent of2,842 tonnes of CO2e			Based on SBTi, set Group-widecarbon reduction goals Adopted TCFD for systematic identification and management of climate change risks and opportunities			Active management and control of water usage Primax Group’swater intensity decreased 0.29%compared to 2019			Active management and control of energy consumption Primax Group’senergy consumption is down 13.83%since 2019			Hazardous substance management system installed Environment management system installed Primax Group’s total hazardous waste volume dropped 14.69% YoY in 2020
	ISO 14064-1 verification Renewable energy certificates												ISO 14001 certification IECQ QC 080000 certification
				Adopted SBTi approach Joined and adopted TCFD framework			ISO 14046 verification Water footprint certificates			ISO 50001 certification Energy management system installed

Note: * Science Based Targets initiative (STBi), Task Force On Climate-Related Financial Disclosures (TCFD)

INVESTOR RELATIONS & QUARTERLY UPDATE I 22

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Primax Electronics Headquarter

Taipei City

No. 669, Ruiguang Road, Neihu District 114 Taipei City, Taiwan (886 2) 2798 9008 IR@primax.com.tw

About Primax Electronics

Primiax Electronics was founded in 1984 and is a leading supplier of IT, electronic and consumer solutions. The company is headquartered at Neihu Technology Park in Taipei City. Guided by the principle of "Global Operations with R&D and Smart Manufacturing in Taiwan", Primax now operates across Asia, The Americas and Europe. Highly-efficient production sites have been established in Taiwan, China and Thailand and the company has over 10,000 employees worldwide.

Seeing the potential of cloud technology and IoT, Primax has successfully developed human-machine interface products with touch, voice control, gesture recognition and wearable functions. Vision and video products have achieved notable successes in smart surveillance systems, mobile devices, smart homes, and advanced driver assistance systems. Our insistence on maintaining high yields as well as high quality in manufacturing and development is backed by our technical expertise. Our implementation of smart system engineering has also made us an indispensable partner for leading international brands and has allowed us to build up the energy needed for future growth. For the latest news from Primax Electronics, visit our website or follow us on

Safe Harbor And Disclaimer

Primax’s presentation contains forward-looking statements subject to significant risks and uncertainties. Forward-looking statements generally relate to future events or our future financial or operating performance. In this context, you can identify forward-looking statements because they contain words such as "may," "will," "should," "expects," "plans," "anticipates," "could," "intends," "target," "projects," "contemplates," "believes," "estimates," "predicts," "potential" or "continue" or the negative of these words or other similar terms or expressions that concern our expectations, strategy, plans or intentions.

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Actual results may differ materially from those contained in the forward-looking statements due to risk and uncertainties resulting from a number of important factors. Such factors include, but are not limited to: our highly competitive environment; the cyclical nature of our business; our ability to develop new products; and our successful execution in new business developments, and etc. All forward-looking statements in this presentation are based on information available to us as of the date hereof, we undertake no obligation to update these forward-looking statements for new information, future events, otherwise, or update the reasons why actual results could differ materially from those anticipated in the forward-looking statements, even if new information becomes available in the future.

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