Tripod — Interim / Quarterly Report 2017

Dec 4, 2017

Presentation

December 2017

Worldwide PCB Production Region Value

Share(%)

60.0%

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2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016

• 50.0% 40.0% 30.0% 20.0% 10.0%

• 0.0%

Americas

Europe

Japan

Asia(ex JP & CN)

China (Area)

M USD	Americas	Europe	Japan	Asia (ex JP&CN)	China	China Growth	Worldwide TOTAL	Worldwide Growth	China's Share
2006	5,054	3,612	10,511	14,229	11,737	22.9%	45,144	11.1%	26.0%
2007	4,577	3,598	10,716	15,231	13,563	15.6%	47,684	5.6%	28.4%
2008	4,484	3,208	10,095	15,518	15,037	10.9%	48,342	1.4%	31.1%
2009	3,446	2,035	8,304	13,189	14,252	-5.2%	41,226	-14.7%	34.6%
2010	3,923	2,464	10,165	15,746	20,170	41.5%	52,468	27.3%	38.4%
2011	3,825	2,550	9,638	17,367	22,029	9.2%	55,409	5.6%	39.8%
2012	3,284	2,338	9,074	18,037	22,936	4.1%	55,669	0.5%	41.2%
2013	3,044	2,190	6,995	19,363	24,560	7.1%	56,152	0.9%	43.7%
2014	2,977	2,220	6,530	19,507	26,203	6.7%	57,437	2.3%	45.6%
2015	2,776	1,933	5,655	18,233	26,729	2.0%	55,325	-3.7%	48.3%
2016	2,752	1,910	5,253	17,169	27,123	1.5%	54,207	-2.0%	50.0%

* Source : Prismark (May. 2017)

Unit: Million USD

2016 Global Top 15 PCB Makers

Rank		Makers	Nationality		2011	2012	2013	2014		2015	2016	16/15		11-16 CAGR
1 2 3 4 5	Nippon Mektron Zhen Ding (Foxconn PCB) TTM (with Viasystems)** Unimicron (with PPT) Compeq		Japan Taiwan USA Taiwan Taiwan	2240(3) 2632(1) 2556(1) 2997(1) 1505(5) 1874(5) 2166(3) 2504(2) 2563(1) 2430(2) 2380(2) 2376(3) 2370(2) 2377(3) 2133(5) 2149(4) 811(18) 905(14) 1041(12) 1116(11)					3512(1) 3307(1) 2704(2) 2558(2) 2488(3) 2533(3) 2122(4) 2026(4) 1395(6) 1401(5)			-5.9% -5.4% 1.8% -4.5% 0.5%		8.1% 11.2% -0.2% -3.1% 11.6%
6	Tripod		Taiwan	1395(7) 1325(8) 1372(8) 1400(8)					1368(7) 1351(6)			-1.2%		-0.6%
7 8 9 10	Young Poong (with KCC, Interflex) Samsung Electro-Mech Sumitomo Electric KB PCB Group (with Elec&Eltek..)		Korea Korea Japan HongKong	1255(10) 1555(7) 2065(4) 1675(5) 1445(6) 1867(6) 1700(6) 1551(6) 880(14) 1184(9) 1315(9) 1279(9) 1040(11) 935(13) 922(14) 965(13)					1295(10) 1201(7) -7.3% 1344(8) 1140(8) -15.2% 1616(5) 1136(9) -29.7% 930(12) 980(10) 5.4%					-0.9% -4.6% 5.2% -1.2%
11 12 13 14 15	Ibiden Nanya PCB AT&S Hannstar Board (with GBM) Daeduck Group		Japan Taiwan Austria Taiwan Korea	2126(4) 2094(4) 1567(7) 1455(7) 1290(9) 975(12) 1088(11) 1154(10) 690(21) 698(20) 780(16) 829(15) 1290(9) 1100(10) 972(13) 958(14) 970(12) 1080(11) 1190(10) 1076(12)					1297(9) 954(11) -26.4% 945(11) 906(12) -4.1% 844(14) 877(13) 3.9% 825(15) 828(14) 0.3% 923(13) 808(15) -12.5%					-14.8% -6.8% 4.9% -8.5% -3.6%
Top15 PCB Makers				21870 23031 23247 23484					23608 22006 -6.8%					0.1%

• FPC Makers Include FPCBA Value

Source : Prismark ( May. 2017 )

** On a Pro Forma Basis, TTM Acquired Viasystems in 2015

Consolidated Quarterly Income Statement

Net Income COGS Gross Profit Operating Exp. Operating Income Non-Op. Income Dep.& Amort. Basic EPS Income Tax Pretax Income Net Sales the Parent Attributable to: Other Expense Unit : Million NTD	AMT % 11,619 100.0% 9,302 80.1% 2,317 19.9% 879 7.6% 450 3.9% 989 8.5% 202 1.7% 1,191 10.2% 214 1.8% 976 8.4% 976 8.4% $1.86 675 5.8% 2016 Q3	AMT % 11,286 100.0% 9,002 79.8% 2,284 20.2% 1,011 9.0% 0 0.0% 1,273 11.3% 256 2.3% 1,530 13.6% 298 2.6% 1,232 10.9% 1,232 10.9% $2.34 590 5.2% 2016 Q4	AMT % 10,285 100.0% 8,514 82.8% 1,771 17.2% 841 8.2% 0 0.0% 931 9.0% 163 1.6% 1,094 10.6% 193 1.9% 901 8.8% 901 8.8% $1.71 516 5.0% 2017 Q1	AMT % 10,636 100.0% 8,673 81.5% 1,963 18.5% 870 8.2% -67 -0.6% 1,160 10.9% 250 2.4% 1,410 13.3% 368 3.5% 1,042 9.8% 1,042 9.8% $1.98 474 4.5% 2017 Q2	2017 Q3	2017 Q3
	AMT 11,619 9,302 2,317 879 450 989 202 1,191 214 976	AMT 11,286 9,002 2,284 1,011 0 1,273 256 1,530 298 1,232	AMT 10,285 8,514 1,771 841 0 931 163 1,094 193 901	AMT 10,636 8,673 1,963 870 -67 1,160 250 1,410 368 1,042	AMT 12,301 10,065 2,236 948 0 1,288 298 1,586 279 1,306	%
						100.0% 81.8%
						18.2% 7.7% 0.0%
						10.5% 2.4%
						12.9% 2.3%
						10.6%
	976 $1.86	1,232 $2.34	901 $1.71	1,042 $1.98	1,306 $2.49	10.6%
	675	590	516	474	516	4.2%

Consolidated Annual Income Statement

Unit : Million NTD Operating Exp. Net Sales Dep.& Amort. Net Income Other Expense Operating Income Pretax Income Non-Op. Income Attributable to: Basic EPS the Parent Income Tax Gross Profit COGS	AMT % 42,433 100.0% 35,771 84.3% 6,662 15.7% 3,960 9.3% 129 0.3% 2,573 6.1% 667 1.6% 3,240 7.6% 584 1.4% 2,656 6.3% 2,637 6.2% $5.02 2,816 6.6% 2014	AMT % 43,383 100.0% 36,589 84.3% 6,793 15.7% 3,933 9.1% 0 0.0% 2,860 6.6% 671 1.5% 3,531 8.1% 698 1.6% 2,833 6.5% 2,833 6.5% $5.39 3,080 7.1% 2015	AMT % 43,513 100.0% 35,695 82.0% 7,818 18.0% 3,679 8.5% 450 1.0% 3,689 8.5% 788 1.8% 4,477 10.3% 904 2.1% 3,573 8.2% 3,573 8.2% $6.80 2,749 6.3% 2016	AMT % 32,227 100.0% 26,694 82.8% 5,533 17.2% 2,668 8.3% 450 1.4% 2,416 7.5% 531 1.6% 2,947 9.1% 606 1.9% 2,341 7.3% 2,341 7.3% $4.45 2,159 6.7% 2016 1-3Q	2017 1-3Q	2017 1-3Q
	AMT 42,433 35,771 6,662 3,960 129 2,573 667 3,240 584 2,656	AMT 43,383 36,589 6,793 3,933 0 2,860 671 3,531 698 2,833	AMT 43,513 35,695 7,818 3,679 450 3,689 788 4,477 904 3,573	AMT 32,227 26,694 5,533 2,668 450 2,416 531 2,947 606 2,341	AMT 33,222 27,252 5,971 2,659 -67 3,378 711 4,090 840 3,249	%
						100.0% 82.0%
						18.0% 8.0% -0.2%
						10.2% 2.1%
						12.3% 2.5%
						9.8%
	2,637 $5.02	2,833 $5.39	3,573 $6.80	2,341 $4.45	3,249 $6.18	9.8%
	2,816	3,080	2,749	2,159	1,506	4.5%

Cash and Cash Equivalents Other Current Assets Funds and Investments Fixed Assets Intangible and Other Assets Total Assets Short-Term Loans Other Current Liabilities Long-Term Borrowings Other Liabilities Shareholder's Equities Total Liabilities and Equities Unit: Million NTD	AMT % 21,501 36.4% 19,047 32.2% 0 0.0% 15,992 27.1% 2,529 4.3% 59,068 100.0% 15,236 25.8% 14,154 24.0% 0 0.0% 1,285 2.2% 28,393 48.1% 59,068 100.0% 2014	AMT % 21,501 36.4% 19,047 32.2% 0 0.0% 15,992 27.1% 2,529 4.3% 59,068 100.0% 15,236 25.8% 14,154 24.0% 0 0.0% 1,285 2.2% 28,393 48.1% 59,068 100.0% 2014	AMT % 27,258 43.6% 18,312 29.3% 0 0.0% 14,418 23.1% 2,537 4.1% 62,525 100.0% 17,740 28.4% 13,347 21.3% 0 0.0% 1,670 2.7% 29,768 47.6% 62,525 100.0% 2015	AMT % 27,258 43.6% 18,312 29.3% 0 0.0% 14,418 23.1% 2,537 4.1% 62,525 100.0% 17,740 28.4% 13,347 21.3% 0 0.0% 1,670 2.7% 29,768 47.6% 62,525 100.0% 2015	2016	% 47.6% 28.9% 0.0% 19.1% 4.4% 100.0% 28.9% 21.9% 0.0% 2.7% 46.5% 100.0% 1-3Q	AMT % 30,247 47.8% 18,950 29.9% 0 0.0% 11,321 17.9% 2,782 4.4% 63,301 100.0% 16,913 26.7% 14,871 23.5% 0 0.0% 1,951 3.1% 29,566 46.7% 63,301 100.0% 2016	AMT % 30,247 47.8% 18,950 29.9% 0 0.0% 11,321 17.9% 2,782 4.4% 63,301 100.0% 16,913 26.7% 14,871 23.5% 0 0.0% 1,951 3.1% 29,566 46.7% 63,301 100.0% 2016	2017	1-3Q
	AMT 21,501 19,047 0 15,992 2,529 59,068 15,236 14,154 0 1,285 28,393 59,068		AMT 27,258 18,312 0 14,418 2,537 62,525 17,740 13,347 0 1,670 29,768 62,525		AMT 29,063 17,647 0 11,693 2,704 61,106 17,665 13,407 0 1,636 28,398 61,106		AMT 30,247 18,950 0 11,321 2,782 63,301 16,913 14,871 0 1,951 29,566 63,301		AMT 34,611 21,325 0 14,384 2,963 73,283 23,791 17,300 0 2,590 29,602 73,283	%
										47.2% 29.1% 0.0% 19.6% 4.0%
										100.0%
										32.5% 23.6% 0.0% 3.5% 40.4%
										100.0%
Asset Turnover (x) Fixed Asset Turnover (x) ROA (%) ROE (%) Current Ratio (%) Debt / Asset Ratio (%) Net Debt / Equity Ratio (%) Net Cash Per Share (NT$) Book Value Per Share(NT$)	0.81 2.57 5.1% 10.1% 138% 52% -22% 11.9 54.0		0.80 2.75 5.2% 10.5% 147% 52% -32% 18.1 56.6		0.70 3.29 5.0% 10.7% 150% 54% -40% 21.7 54.0		0.69 3.38 5.7% 12.0% 155% 53% -45% 25.4 56.3		0.65 3.45 6.3% 14.6% 136% 60% -37% 20.6 56.3

Consolidated Statements of Cash flows

Unit: Million NTD Income before Income Tax Depreciation & Amortization Others Cash Flow from Operations Acquisition of Fixed Assets Decrease (Increase) in Investments Others Cash Flow from Investments Increase (Decrease) in Loans Cash Dividends Paid Others Cash Flow from Financing Foreign Exchange Translation Increase (Decrease) in Cash Cash at the End of the Year	2013 2,892 3,638 -2,321 4,208 -2,169 0 -47 -2,217 2,213 -1,314 36 935 313 3,239 13,353	2014 3,240 2,816 106 6,162 -2,500 255 -107 -2,353 4,624 -1,183 -9 3,432 907 8,148 21,501	2015 3,531 3,080 496 7,106 -2,299 0 71 -2,228 2,048 -1,445 -21 582 298 5,757 27,258	2016 4,477 2,749 1,143 8,369 -1,056 -136 -320 -1,512 -604 -1,708 102 -2,209 -1,658 2,989 30,247	2016 1-3Q 2,947 2,159 503 5,609 -744 -136 220 -660 442 -1,708 16 -1,250 -1,895 1,805 29,063	2017 1-3Q
						4,090 1,506 -2,219
						3,376
						-3,542 0 1,053
						-2,489
						7,481 -2,234 32
						5,280
						-1,803 4,364
						34,611

Appendix- PCB Facilities Location

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JiangSu- WuXi Site I (2003)

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JiangSu- WuXi Site II (2007)

HuBei- XianTao (2013)

Taiwan- PingJen (1998)