Slides
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1 2Q26 Investor Conference Aug. 6th, 2026
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2 Safe Harbor Notice • We have made forward-looking statements in this presentation. Our forward-looking statements contain information regarding, among other things, our financial condition, future expansion plans and business strategies. We have based these forward-looking statements on our current expectations and projections about future events. Although we believe that these expectations and projections are reasonable, such forward-looking statements are inherently subject to risks, uncertainties and assumptions about us. • Financial figures presented in this document contains unaudited information. All information is provided for reference only. • We undertake no obligation to publicly update or revise any forward-looking statements whether as a result of new information, future events or otherwise. In light of these risks, uncertainties and assumptions, the forward-looking events discussed in this conference might not occur and our actual results could differ materially from those anticipated in these forward-looking statements. • The information contained herein shall also not constitute an offer to sell or a solicitation of an offer to buy the company’s securities nor shall there be any sale of such securities in any state or country in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or country.
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3 Agenda Excellence & Forward Jason Lin - VP 03 Financial Results Hsiang-Yun Fan - EVP 01 Q & A04 Business Recap & Outlook James Chen - President 02
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4 Financial Results
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5 Statement of Comprehensive Income - Consolidated (In NT$ millions unless otherwise noted) 2Q26 1Q26 QoQ 2Q25 YoY Net Sales 59,843 38,253 +56.4% 21,018 +184.7% Gross Profit 39,645 20,415 +94.2% 4,763 +732.4% Gross Margin 66.2% 53.4% +13 ppts 22.7% +44 ppts Operating Expenses 10,666 7,865 +35.6% 6,058 +76.1% Operating Profit (Loss) 28,979 12,550 +130.9% (1,295) +30,274 Operating Margin 48.4% 32.8% +16 ppts -6.2% +55 ppts Non-Operating Items 1,039 138 +653.3% (524) +1,563 Income Tax Expense (Benefit) 5,820 2,571 +126.4% (188) +6,007 Net Income (Loss) 24,199 10,118 +139.2% (1,631) +25,830 Net Profit Margin 40.4% 26.4% +14 ppts -7.8% +48 ppts Net Income (Loss) to Shareholders of the Parent Company 24,317 10,114 +140.4% (1,312) +25,629 Earning Per Share (NT Dollar) NT$5.40 NT$2.25 NT$-0.29 Earning Per Share for 1H26 (NT Dollar) NT$7.65 EBITDA 33,643 16,127 1,741 Average Exchange Rate--USD/NTD 31.58 31.58 31.03
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6 *CMS stands for Customized Memory Solution, formerly known as DRAM business **Others revenue represents software service revenue, mainly from AMTC and METC. It accounts for less than 3% of total revenue NT$M Revenue by Products - Consolidated 25% 23% 21% 24% 27% 30% 35% 47% 53% 35% 37% 38% 32% 34% 35% 37% 32% 33% 38% 37% 38% 42% 37% 33% 26% 21% 13% 21,484 21,312 18,692 19,993 21,018 21,771 26,625 38,253 59,84333% 29% 27% 26% 23% 47% 42% 53% 66% 2Q24 3Q24 4Q24 1Q25 2Q25 3Q25 4Q25 1Q26 2Q26 CMS Flash Logic IC Others Consolidated Gross Margin 13,904 7,873 -150 CMS Flash Logic IC 2Q26 vs. 1Q26 (QoQ) 26,140 12,735 -12 CMS Flash Logic IC 2Q26 vs. 2Q25 (YoY)
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7 Revenue and Gross Margin by Products Memory Logic ICNT$M NT$M 42% 38% 35% 43% 44% 47% 48% 60% 61% 58% 62% 65% 57% 56% 53% 52% 40% 39% 12,948 12,941 11,018 11,190 12,824 14,132 19,172 29,923 51,700 30% 21% 18% 10% 12% 51% 43% 57% 70% 2Q24 3Q24 4Q24 1Q25 2Q25 3Q25 4Q25 1Q26 2Q26 CMS Flash Memory Gross Margin 8,171 7,905 7,193 8,305 7,747 7,217 6,981 7,884 7,735 34% 37% 38% 41% 35% 36% 34% 39% 38% 2Q24 3Q24 4Q24 1Q25 2Q25 3Q25 4Q25 1Q26 2Q26 Logic IC Logic IC Gross Margin
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8 (In NT$ millions unless otherwise noted) 2Q26 1Q26 QoQ 2Q25 YoY Net Sales 51,700 29,923 +72.8% 12,824 +303.1% Gross Profit 36,337 16,938 +114.5% 1,547 +2248.3% Gross Margin 70.3% 56.6% +14 ppts 12.1% +58 ppts Operating Expenses 6,938 4,231 +64.0% 2,644 +162.4% Operating Income (Loss) 29,400 12,707 +131.4% (1,097) +30,496 Operating Margin 56.9% 42.5% +14 ppts -8.6% +65 ppts Capacity Utilization ~100% ~100% ~90% Memory Business Quarterly Highlights
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9 (In NT$ millions unless otherwise noted) 06.30.2026 03.31.2026 06.30.2025 Cash, Cash Equivalents & Hedging Financial Assets 61,826 21% 48,657 21% 20,317 11% Accounts Receivable 37,439 13% 22,015 10% 11,855 7% Inventories 25,787 9% 25,232 11% 21,629 12% Investments 55,664 18% 31,157 14% 18,400 10% Property, Plant, Equipment and ROU 106,519 37% 96,563 42% 99,734 56% Total Assets 293,034 100% 229,814 100% 179,573 100% Current Liabilities 92,104 32% 75,046 33% 42,031 23% Long-term Borrowings 21,449 7% 22,149 10% 33,266 18% Total Liabilities 119,492 41% 106,920 47% 85,269 47% Total Stockholders' Equity 173,542 59% 122,894 53% 94,304 53% Book Value Per Share (NT Dollar) 36.67 25.92 19.48 Debt / Equity Ratio 0.69 0.87 0.90 Current Ratio 1.60 1.47 1.55 Balance Sheet - Consolidated *Total outstanding shares were 4,500 million units on 06.30.2026 **Total outstanding shares are expected to reach 4,720 million units upon full ECB conversion announced on 08.03.2026
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10 (In NT$ millions unless otherwise noted) 2Q26 1Q26 2Q25 Cash Flow from Operating Activities 23,306 12,366 2,437 Depreciation & Amortization 3,206 3,089 3,211 Cash Flow from Investing Activities (5,631) (2,492) (1,824) CAPEX (5,172) (2,916) (1,412) Cash Flow from Financing Activities (4,315) 22,963 2,443 Convertible Bonds - 23,932 - Bank Loans (1,985) (929) 2,698 Cash Dividends (2,250) - - Net Change 13,169 32,924 1,939 Ending Balance* 61,826 48,657 20,317 Free Cash Flow** 18,134 9,450 1,026 Statement of Cash Flow - Consolidated *Including Cash & Cash Equivalents from Hedging Financial Assets **Free cash flow = Cash from operating activities – CAPEX
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11 Operating Expenses - Consolidated *Including operating expenses from memory and software service businesses NT$M 1,990 2,038 1,978 2,017 2,231 2,424 2,646 2,915 4,0671,040 985 994 974 885 998 1,381 1,801 3,312 2,129 2,151 2,066 2,261 2,138 2,253 2,217 2,312 2,443 791 799 783 836 803 788 809 837 845 5,949 5,974 5,822 6,087 6,058 6,463 7,054 7,865 10,666 28% 28% 31% 30% 29% 30% 26% 21% 18% 2Q24 3Q24 4Q24 1Q25 2Q25 3Q25 4Q25 1Q26 2Q26 R&D-Memory* SG&A-Memory* R&D-Logic IC SG&A-Logic IC OPEX to Revenue
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12 Logic Business Performance - Nuvoton Income Statement (In NT$ millions unless otherwise noted) 2Q26 1Q26 QoQ 2Q25 YoY Net Sales 7,941 7,988 -0.6% 7,816 +1.6% Gross Profit 3,020 3,142 -3.9% 2,728 +10.7% Gross Margin 38.0% 39.3% -1 ppts 34.9% +3 ppts Operating Expenses 3,353 3,254 +3.0% 3,030 +10.7% Operating Margin -4.2% -1.4% -3 ppts -3.9% -0.3ppts Non-Operating Items 212 283 -25.2% (343) +555 Income Tax Expense (Benefit) (128) 164 -292 (30) -98 Net Income (Loss) (249) 7 -256 (675) +426 Net Profit Margin -3.1% 0.1% -3 ppts -8.6% +5 ppts Earning Per Share (NT Dollar) -NT$0.58 NT$0.02 -NT$1.61
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13 Logic Business Performance - Nuvoton Balance Sheets (In NT$ millions unless otherwise noted) 06.30.2026 03.31.2026 06.30.2025 Cash & Cash Equivalents 7,464 24% 7,069 23% 9,685 29% Accounts Receivable 4,353 14% 4,678 15% 4,353 13% Inventories 6,869 22% 6,334 21% 6,537 19% Long-term Investments 2,793 9% 2,757 9% 2,636 7% Property, Plant, Equipment and ROU 7,262 23% 7,549 25% 7,766 24% Total Assets 31,257 100% 30,575 100% 33,563 100% Current Liabilities 10,409 33% 9,360 31% 11,037 33% Non-Current Liabilities 4,126 13% 7,995 26% 8,462 25% Total Liabilities 14,535 46% 17,355 57% 19,499 58% Total Stockholders' Equity 16,722 54% 13,220 43% 14,064 42% Book Value Per Share (NT Dollar) 36.96 31.49 33.50 Debt / Equity Ratio 0.87 1.31 1.39 Current Ratio 1.90 2.03 1.98
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14 Corporate Value EPS NT Dollar NT Dollar BVPS EBITDA NT$M 20.71 23.66 22.08 20.37 23.99 36.67 2021 2022 2023 2024 2025 1H26 3.41 3.23 (0.29) 0.14 0.88 7.65 2021 2022 2023 2024 2025 1H26 30,085 27,690 12,151 15,005 18,680 49,77030% 29% 16% 18% 21% 51% 2021 2022 2023 2024 2025 1H26 EBITDA EBITDA to Revenue
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15 Memory CAPEX (NT$ B) • 1H26 CAPEX was NT$7.5B • 2026 CAPEX is estimated approx. NT$39.5B, in which WFE CAPEX accounts for ~95% Cash Basis, as of August 6th, 2026 40.8 12.7 15.5 5.5 39.5 2022 2023 2024 2025 2026(E) Paid Estimated
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16 Business Recap & Outlook
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17 QoQ YoY 2Q26 vs. 1Q26 2Q26 vs. 2Q25 CMS CMS Revenue +78% +467% Bit Shipment Decreased low-teens% Increased low-twenties% Blended ASP(US$) Increased by ~100% Increased over 300% Flash Flash Revenue +65% +176% Bit Shipment Increased mid-teens% Increased mid-teens% Blended ASP(US$) Increased low-forties% Increased more than doubled Exchange Rate Flat +1.8% Memory Revenue Results
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18 Comm. 27% Computer 13%Consumer 30% Car & Ind. 30% NT$M NT$M Consumer QoQ +64% NT$M Computer QoQ +89%NT$M 1Q26 Comm. 29% Computer 15% Consumer 28% Car & Ind. 28% 2Q26 0 2,000 4,000 6,000 8,000 10,000 12,000 14,000 1Q26 2Q26 0 2,000 4,000 6,000 8,000 10,000 1Q26 2Q26 0 2,000 4,000 6,000 8,000 10,000 12,000 14,000 1Q26 2Q26 0 2,000 4,000 6,000 8,000 10,000 12,000 14,000 1Q26 2Q26 Memory Business Revenue Breakdown by Application Car & Industrial QoQ +54% Communication QoQ +82%
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19 Flash Business 6%8%8%10%12%12%15%15%15% 50% 54%59%64%62%65%62%66%64% 3% 6%8% 5%6%4%5%3% 12% 13%15% 14%12%11%11%10%12% 25% 18% 10% 7%8%8%7%6%9% 4% 1% 2Q261Q264Q253Q252Q251Q254Q243Q242Q24 90nm 58nm 45nm 46nm 32nm 24nm 2Q26 ❑ Revenue in 2Q26 increased by 65% QoQ and 176% YoY ❑ Revenue contribution from 24nm and 32nm SLC NAND increased significantly, with momentum expected to continue ❑ World's No.1 NOR Flash supplier, with sustained growth and market share expansion
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20 CMS Business 7%9%13%20%22%24%29%27%28% 17% 16%23%30%41%42%48%50%49% 5% 7%9%13%16%19%17%18%20% 71% 68% 55%37%21%15%6%5%3% 2Q261Q264Q253Q252Q251Q254Q243Q242Q24 ≧38nm 25nm 25Snm 20nm 2Q26 ❑ Revenue in 2Q26 increased by 78% QoQ and over 400% YoY, supported by strong AI demand ❑ Blended ASP in 2Q26 increased by ~100% QoQ, reflecting a rise in pure ASP and a favorable product mix ❑ 20nm revenue continued to step up, with further growth expected over the coming quarters
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21 Market and Business Outlook (1) ❑ Code Storage Flash ❖ Demand for high-density NOR continues to outpace supply, supporting a sustained pricing uptrend through 2026 and beyond ❖ SLC NAND supply remains tight, with strong design-ins underpinning the upward pricing trend into 2H26 ❖ Strong demand: AI Server, Automotive, and AI-related applications ❑ Customized Memory Solution ❖ Global DRAM supply remains constrained while major memory suppliers continue to scale back DDR4 bit shipments ❖ Further upside potential in 3Q contract pricing, with AI-driven demand reinforcing a positive outlook into 2H26 and 2027 ❖ Strong demand: Data Center, Infrastructure, Edge AI and Automotive
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22 Market and Business Outlook (2) ❑ Overall Market ❖ AI infrastructure is creating a new growth engine, providing a long-term tailwind for the memory upcycle ❑ Winbond Business ❖ Profitability continues to hit record highs, with confidence in further sequential growth ❖ 16nm capacity ramp remains on track, with meaningful contribution expected from 2027 ❖ Next-phase KH Fab Module B expansion planning is underway ❖ Increasing LTA penetration enhances long-term supply resilience and order visibility ❖ CUBE and Si-Cap are emerging as the next wave of major growth drivers beyond 2027
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23 Excellence & Forward
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24 Code Storage Flash Trend 512Mb 1Gb 2Gb 4Gb 8Gb 16Gb 4GB 8GB 16GB 32GB >32 GB <=256Mb NOR NVM Serial/ONFI NAND eMMC 32GB ~ 256GBeMMC < 32GB UFS 64GB ~ 512GB Fast boot, XiP in NOR or execute in DRAM • Program Code Image <= 2Gb. Not Fast Boot, not XIP . Execute in DRAM • Program Code Image <= 8Gb OS with multiple applications, execute in DRAM • Not fast boot, Boot from eMMC, UFS. • Fast Boot by NOR, then boot Image from eMMC/UFS. Leading NAND vendors EoL 2D NAND • Driving low-density eMMC demand toward QspiNAND • Seeking alternative supply for the QspiNAND and ONFI NAND. eMMC/UFS NOR/ SLC NAND 45nm 40nm 24nm 19/16nm Winbond Focus
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25 2025 Flash Market Share Source: Omdia Mobile and Embedded Memory Market Tracker – 1Q26 Winbond 23% GigaDevice 17% Macronix 17% Infineon 11% Micron 9% Puya 7% Others 16% NOR Flash SLC NAND Flash Source: Winbond Internal Statistics #1 #3 Micron 21% Kioxia 20% Winbond 15% SkyHigh 14% Macronix 11% GigaDevice 9% Dosilicon 6% Others 4% 2025 Revenue USD 3.4B 2025 Revenue USD 1.5B
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26 Winbond Flash Portfolio 2Mb 4Mb 8Mb 16Mb 32Mb 64Mb 128Mb 256Mb 1Gb512Mb 2Gb 4Gb 8Gb QSPI NOR (1.2V) W25Q-NE QSPI NOR (1.8V) W25Q-EW/JW/NW, W25Q-PW/RW (3V) W25Q-JV,W25Q-RV Octal NOR (1.8V) W35T-NW NOR Octal Secure NOR (1.8V) W77T-NW PQC QSPI Secure NOR (1.8V) W77Q-JW,W77Q-NW PQC (3V) W77Q-JV Secure NOR Octal NAND (1.8V) W35N-JW QSPI NAND (1.8V) W25N-GW/KW/LW (3V) W25N-GV/KV/LV ONFI NAND (1.8V) W29N-GZ/LZ (3V) W29N-GV NAND MCP (1.8V) W71 4+4/8+8 MCP✓ ✓
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27 F46/F32, and new F24 High endurance High data retention Data Integrity Automotive grade 1 & 2 Deep-power down mode Longevity support Green product Octal/QSPI Short Page Read time Continuous Read Sequential Read QSPI, Octal, ONFI 1.8V & 3V Density ≤16Gb High Reliability Low Power Consumption Self-owned Fab High Performance Rich Portfolio Winbond NAND Flash Plays Significant Role
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28 Emerging Existing Automotive Cluster ADAS Infotainment Consumer Smart Home Appliances Music Instrument TVAMOLED VR/ARWearable Smart Speaker AI Phone Industrial M2M UAV Surveillance Camera Medical Robotic Arm Industrial IoT Robot AMR Edge AI Gateway Communication AI Camera SwitchGOPN Telecom LEO On-device AI Physical AI Edge AI Computing PrinterHDDSSD Telematic FWA On-Device AI Driving Another Demand Growth Winbond NAND Flash on Growing Market
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29 Shipping Quantity & Bit Growth NAND Flash Market Opportunity 35% 15% >20% >40% 2024 2025 2026 2027 Communication Industrial Automotive Consumer Computing Bit Growth
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30 Q & A
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31 Thank you