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VANGUARD 20 25 Fourth Quarter Results Investor Conference February 3, 2026
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4Q25 Investor Conference - 2 Agenda • Welcome • 4Q25 Consolidated Financial Results • Remark • Q & A
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Disclaimer This presentation material contains certain forward-looking statements that are based on current expectations and are subject to known and unknown risks and uncertainties that could cause actual results to differ materially from those expressed or implied by such statements. 4Q25 Investor Conference - 3
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4Q25 Result Highlights Amount : NT$ Million Net Revenue 12,594 12,349 11,553 Net Income Attributable to Shareholders of the Parent 1,748 1,703 1,847 EPS (NT$) 0.93 0.91 1.03 Cash and Financial Instruments 41,716 50,738 66,749 Equity Attributable to Shareholders of the Parent 63,877 60,881 64,104 626 673 554 4Q25 Amount Total Wafers Shipped (Kpcs) 3Q25 Amount 4Q24 Amount 4Q25 Investor Conference - 4
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Statements of Comprehensive Income 4Q25 Investor Conference - 5 Amount: NT$Million QoQ YoY Selected Items from Statements of Comprehensive Income Amount % Amount % Amount % % % Net Revenue 12,594 100.0 12,349 100.0 11,553 100.0 2.0 9.0 Cost of Revenue (9,129) (72.5) (9,037) (73.2) (8,239) (71.3) 1.0 10.8 Gross Profit 3,465 27.5 3,312 26.8 3,314 28.7 4.6 4.5 Operating Expenses (1,658) (13.2) (1,480) (12.0) (1,389) (12.0) 12.0 19.4 Operating Income 1,807 14.3 1,832 14.8 1,925 16.7 (1.4) (6.2) Net Non-operating Income 288 2.3 267 2.2 408 3.5 7.9 (29.3) Income before Income Tax 2,095 16.6 2,099 17.0 2,333 20.2 (0.2) (10.2) Net Income 1,666 13.2 1,685 13.6 1,844 16.0 (1.1) (9.6) Net Income Attributable to: Shareholders of the Parent 1,748 13.9 1,703 13.8 1,847 16.0 2.6 (5.4) Non-controlling Interests (81) (0.6) (18) (0.1) (3) (0.0) 357.1 2728.9 1,666 13.2 1,685 13.6 1,844 16.0 Diluted EPS (NT$) 0.93 0.91 1.03 2.2 (9.7) 3Q254Q25 4Q24
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4Q25 Investor Conference - 6 Yearly Operating Results Comparison Amount : NT$ Million YoY Selected Items from Statements of Comprehensive Income Amount % Amount % % Net Revenue 48,591 100.0 44,055 100.0 10.3 Cost of Revenue (34,937) (71.9) (32,122) (72.9) 8.8 Gross Profit 13,654 28.1 11,933 27.1 14.4 Operating Expenses (5,880) (12.1) (4,822) (10.9) 22.0 Operating Income 7,773 16.0 7,111 16.1 9.3 Net Non-operating Income 1,477 3.0 1,641 3.7 (10.0) Income before Income Tax 9,251 19.0 8,752 19.9 5.7 Net Income 7,770 16.0 7,047 16.0 10.3 Net Income Attributable to: Shareholders of the Parent 7,908 16.3 7,046 16.0 12.2 Non-controlling Interests (137) (0.3) 1 0.0 - 7,770 16.0 7,047 16.0 10.3 Diluted EPS (NT$) 4.22 4.16 1.4 20242025
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Balance Sheets & Key Indices Amount : NT$ Million Amount % Amount % Amount % Total Assets 200,469 100.0 170,307 100.0 148,706 100.0 Cash & Financial Instruments 41,716 20.8 50,738 29.8 66,749 44.9 Accounts Receivable 6,748 3.4 7,222 4.2 6,235 4.2 Inventories 6,937 3.5 6,333 3.7 6,221 4.2 Total Current Assets 66,897 33.4 73,035 42.9 86,211 58.0 Property, Plant and Equipment 113,869 56.8 78,591 46.1 44,141 29.7 Short-term Loans 5,521 2.8 4,703 2.8 0 0.0 Notes and Accounts Payable 1,724 0.9 1,461 0.9 1,416 1.0 Accrued Liabilities and Others 44,359 22.1 27,741 16.3 19,959 13.4 Total Current Liabilities 51,604 25.7 33,905 19.9 21,375 14.4 Total Non-current Liabilities 65,275 32.6 64,893 38.1 58,663 39.4 Equity Attributable to Shareholders of the Parent 63,877 31.9 60,881 35.7 64,104 43.1 Non - controlling interests 19,713 9.8 10,628 6.2 4,563 3.1 Total Equity 83,590 41.7 71,508 42.0 68,667 46.2 Key Indices A/R Turnover Days 49 51 49 Inventory Turnover Days 69 67 68 Debt Ratio 58% 58% 54% Current Ratio 130% 215% 403% Net Working Capital 15,293 39,130 64,836 Selected Items from Balance Sheets Sep. 30, 2025Dec. 31, 2025 Dec. 31, 2024 4Q25 Investor Conference - 7
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Cash Flows 4Q25 Investor Conference - 8 Amount : NT$ Million 4Q25 3Q25 4Q24 Selected Items from Cash Flows Amount Amount Amount Cash - Beginning of Period 48,393 57,779 37,218 - Income before Income Tax 2,095 2,099 2,333 - Depreciation & Amort. 2,216 2,205 2,255 - Changes of Notes and Accounts Receivable 130 (1,142) 72 - Changes of Inventories (604) 76 (433) - Contract liabilities from LTA 6,015 6,783 8,816 - Income Taxes Paid (38) (917) (29) - Changes of Notes and Accounts Payable/ Others (2,122) (1,239) (93) From Operation 7,692 7,865 12,921 - (Increase) Decrease in Financial Assets (584) 436 (366) - Acquisitions of PP&E and Intangible Assets (28,023) (17,045) (5,770) - Received Government Subsidy - PP&E 1,859 1,185 5 - Refundable Deposit and Others 1 8 1 From Investment (26,747) (15,415) (6,130) - Increase (Decrease) in Short-term Loans 816 1,461 (961) - Increase in Long-term Loans 1,000 900 0 - Cash Dividends 0 (8,400) 0 - Issuance of common shares 0 0 17,600 - Changes in Non-Controlling Interests 8,709 4,124 0 - Others (170) (193) (133) From Financing 10,354 (2,109) 16,506 Net (Decrease) Increase in Cash (8,701) (9,658) 23,297 Effect of Exchange Rate Changes (57) 272 180 Cash - End of Period 39,635 48,393 60,695
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Remarks 4Q25 Investor Conference - 9
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Net Revenue & Gross Margin 4Q25 Investor Conference - 10
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Revenue Breakdown by Technology 4Q25 Investor Conference - 11
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Revenue Breakdown by Platforms 4Q25 Investor Conference - 12
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4Q25 Result Summary & Guidance Comparison 4Q25 Result Guidance Wafer Shipment -7% QoQ to decrease by 6% to 8% QoQ Blended ASP +5% QoQ to increase by 4% to 6% QoQ Gross Profit Margin 27.5% to be between 26.5% and 28.5% 4Q25 Investor Conference - 13
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Q & A 4Q25 Investor Conference - 14
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Http://www.vis.com.tw 4Q25 Investor Conference - 15