1H20 Investor Conference

July 30, 2020

• 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.

• 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.

Safe Harbor Notice

Financial Results

Statement of Comprehensive Income - Consolidated

1

Unit: NT$ M 2020Q2 2020Q1 QoQ 1H20 1H19 YoY

Net Sales 12,753 11,549 1,204 24,302 22,898 1,404

Gross Profit 3,738 2,787 951 6,525 6,604 (79)

Gross Margin 29% 24% 27% 29%

Operating Income 876 32 844 908 897 11

Operating Margin 7% 0% 4% 4%

Net Non-Operating Income (Loss) 2 (93) 95 (91) 335 (426)

Income Tax Benefit (Expense) (40) (20) (20) (60) (269) 209

Net Income (Loss) 838 (81) 919 757 963 (206)

Earnings Per Share 0.18 (0.02) 0.20 0.16 0.22 (0.06)

EBITDA 3,156 2,328 828 5,484 5,185 299

Revenue and GM Trend- Consolidated

Revenue (NT$B) Gross Margin

2

0.0

2.0

4.0

6.0

8.0

10.0

12.0

14.0

18Q2 18Q3 18Q4 19Q1 19Q2 19Q3 19Q4 20Q1 20Q2

13.5 13.7

11.9

10.9

12.0

13.4

12.5 11.5

12.8

Revenue Gross Profit

39%38%

34%32%

26%27%

22%24%

29%

10%

20%

30%

40%

Balance Sheet - Consolidated

3

Unit: NT$ M Jun. 30 '20 % Dec. 31 '19 % Jun. 30 '19 %

Cash 12,559 12% 11,468 11% 14,074 13%

Inventory(Net) 10,583 10% 10,332 10% 11,068 11%

Property, Plant and Equipment 55,340 54% 56,977 54% 55,730 54%

Total Assets 103,541 100% 104,805 100% 103,280 100%

L/T Liability 20,868 21% 19,662 19% 16,955 17%

Total Liabilities 41,448 40% 40,948 39% 43,013 42%

Shareholders' Equity 62,093 60% 63,857 61% 60,267 58%

Debt / Equity Ratio 0.67 0.64 0.71

Current Ratio 2.29 2.14 1.75

Statement of Cash Flows - Consolidated

4

Unit: NT$ M 2020Q2 2020Q1 QoQ 1H20 1H19 YoY

Operating Cash Flow 2,598 1,715 883 4,313 4,846 (533)

Depreciation & Amortization 2,280 2,296 (16) 4,576 4,288 288

Investing Cash Flow (2,028) (1,500) (528) (3,528) (6,790) 3,262

CAPEX (1,587) (1,521) (66) (3,108) (6,512) 3,404

Financing Cash Flow 1,403 (1,050) 2,453 353 3,406 (3,053)

Net change 1,927 (836) 2,763 1,091 1,514 (423)

Cash & Equivalents 12,559 10,632 1,927 12,559 14,074 (1,515)

Statement of Comprehensive Income - Memory

5

Unit: NT$ M 2020Q2 2020Q1 QoQ 1H20 1H19 YoY

Net Sales 9,588 9,300 288 18,888 18,015 873

Gross Profit 2,342 1,810 532 4,152 4,529 (377)

Gross Margin 24% 19% 22% 25%

Operating Income 449 (66) 515 383 598 (215)

Operating Margin 5% -1% 2% 3%

Net Non-Operating Income (Loss) 213 (30) 243 183 479 (296)

Income Tax Benefit (Expense) 47 9 38 56 (200) 256

Net Income (Loss) 709 (87) 796 622 877 (255)

Earnings Per Share 0.18 (0.02) 0.20 0.16 0.22 (0.06)

EBITDA 2,596 2,111 485 4,707 4,686 21

Revenue and GM Trend- Memory

6

Revenue (NT$B) Gross Margin

0.0

2.0

4.0

6.0

8.0

10.0

12.0

18Q2 18Q3 18Q4 19Q1 19Q2 19Q3 19Q4 20Q1 20Q2

10.7 10.9

9.3

8.7

9.3

10.39.5 9.3

9.6

Revenue Gross Profit

38%37%

32%

29%

21% 22%

16%

19%

24%

10%

15%

20%

25%

30%

35%

40%

Balance Sheet - Memory

7

Unit: NT$ M Jun. 30 '19 % Dec. 31 '19 % Jun. 30 '19 %

Cash 4,824 5% 5,425 6% 11,205 11%

Inventory(Net) 8,705 9% 8,750 9% 9,554 10%

Property, Plant and Equipment 54,083 57% 55,691 57% 54,779 55%

Total Assets 94,564 100% 98,249 100% 98,814 100%

L/T Liability 18,362 19% 19,162 19% 16,955 17%

Total Liabilities 35,285 37% 37,228 38% 39,890 40%

Shareholders' Equity 59,279 63% 61,021 62% 58,924 60%

Debt / Equity Ratio 0.60 0.61 0.68

Current Ratio 1.86 1.80 1.63

Statement of Cash Flows-Memory

8

Unit: NT$ M 2020Q2 2020Q1 QoQ 1H20 1H19 YoY

Operating Cash Flow 2,104 2,035 69 4,139 4,991 (852)

Depreciation & Amortization 2,147 2,177 (30) 4,324 4,088 236

Investing Cash Flow (1,809) (1,323) (486) (3,132) (6,613) 3,481

CAPEX (1,554) (1,438) (116) (2,992) (6,425) 3,433

Financing Cash Flow (578) (1,030) 452 (1,608) 3,442 (5,050)

Net change (283) (318) 35 (601) 1,820 (2,421)

Cash & Equivalents 4,824 5,107 (283) 4,824 11,205 (6,381)

Y2020 Memory CAPEX

(NT$ B)

CAPEX (Cash Basis) as of 06/30/2020 9

0

5

10

15

20

25

2016 2017 2018 2019 2020 (E)

4.8

15.216.7

13.2

10.0

Winbond Business Recap & Outlook

2Q20 Revenue Breakdown by Product

Revenue (NT$B)

0

2

4

6

8

10

12

2018Q2 2018Q3 2018Q4 2019Q1 2019Q2 2019Q3 2019Q4 2020Q1 2020Q2

40% 40% 41% 40% 43% 45% 46% 46% 47%

8% 7%7%

7%7%

8% 9% 9% 9%

42% 43%

41%39%

37%

36%35% 35% 34%

10% 10%

11%

14%13%

11%10% 10%

10%

NOR NAND Specialty Mobile

10

20Q1 20Q2

NT$M

Note: Revenue excluded foundry and others

Car & Industrial

QoQ- 10%

Communication

QoQ+ 3%

Computer

QoQ+ 32%

Consumer

QoQ- 8%

0

500

1,000

1,500

2,000

2,500

3,000

3,500

2020Q1 2020Q2

0

500

1,000

1,500

2,000

2,500

2020Q1 2020Q20

500

1,000

1,500

2,000

2,500

2020Q1 2020Q2

0

500

1,000

1,500

2,000

2020Q1 2020Q2

NT$M NT$M NT$M

Communication34%

Computer19%

Consumer26%

Car & Industrial21%

11

Communication34%

Computer24%

Consumer23%

Car & Industrial19%

19H1 20H1

NT$M

Note: Revenue excluded foundry and others

Car & Industrial

YoY+ 7%

Communication

YoY+ 20%

Computer

YoY+ 5%

Consumer

YoY- 17%NT$M NT$M NT$M

Communication29%

Computer21%

Consumer30%

Car & Industrial20%

0

1,000

2,000

3,000

4,000

5,000

6,000

7,000

1H19 1H200

1,000

2,000

3,000

4,000

5,000

6,000

1H19 1H20

0

1,000

2,000

3,000

4,000

5,000

6,000

1H19 1H20

0

1,000

2,000

3,000

4,000

1H19 1H20

12

Communication34%

Computer22%

Consumer24%

Car & Industrial20%

DRAM Memory Business

1H20 revenue decreased by low teens% YoY; bit shipment

increased by high teens% YoY

25nm DRAM revenue will grow rapidly

13

19Q1 19Q2 19Q3 19Q4 20Q1 20Q2

8% 7% 7% 8% 7% 6%

68% 69% 64% 62% 58% 55%

23% 22% 25%24%

27% 28%

1% 2%4%

6% 8% 11%

65nm 46nm 38nm 25nm

Flash Memory Business

14

1H20 revenue was up more than +20% YoY

Record high quantity shipment in Q2

We are WW No.1 NOR Flash supplier for 2019

SLC NAND price increased mid to high single digits % QoQ in 1H20

19Q1 19Q2 19Q3 19Q4 20Q1 20Q2

30% 28% 25% 22% 20% 20%

55% 57%59% 62% 64% 64%

15%15%

16%16% 16% 16%

90nm 58nm 46nm

Recap Global pandemic: significant impact on the supply chain

Demand/ Territory hit hardest: automotive and China market

Paradigm shift (such as WFH): industrial and networking products to grow

1H20: strong in Server, NB (including Chromebook) and Networking

Outlook Minor inventory adjustment in Q3; Momentum to pick up in Q4

DRAM Mixed outlook for 2H; Demand/supply remain balance under disciplined Capex

Code Storage Flash Supply of NOR and SLC NAND slightly exceed demand in 2H

Some applications still grow in 2H

Flat: Server and Networking

Strong/ grow: NB, TV, Smartphone, TWS

Market Recap and Outlook

15

Business Demand and share in major customers remained solid

Actions to COVID-19 and China-US conflict: Business diversification (customer, application and product)

Innovative solutions: TrustME Secure Flash and QspiNAND Flash

Technology 25 nm-shrink DRAM development: on track

4x nm NOR development: on track

2x nm SLC NAND: under development

Kaohsiung Fab Construction: on track

Equipment move-in: expected in 2022

Winbond Business and Outlook

16

1H20 Investor Conference

July 30, 2020

Thank You