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1、Unleash InnovationTSMC,Ltd02025TSMC PropertyUnleash Innovation2025 First Quarter Earnings Conference April 17,2025Unleash InnovationTSMC,Ltd12025TSMC PropertyAgendaWelcomeJeff Su,IR Director1Q25 Financial Results and 2Q25 OutlookWendell Huang,CFOKey Messages Wendell Huang,CFO C.C.Wei,Chairman&CEOQ&A

2、Unleash InnovationTSMC,Ltd22025TSMC PropertySafe Harbor NoticeTSMCs statements of its current expectations are forward-looking statements subject to significant risks and uncertainties and actual results may differ materially from those contained in the forward-looking statements.Information as to t

3、hose factors that could cause actual results to vary can be found in TSMCs 2023 Annual Report on Form 20-F filed with the United States Securities and Exchange Commission(the“SEC”)on April 18,2024 and such other documents as TSMC may file with,or submit to,the SEC from time to time.Except as require

4、d by law,we undertake no obligation to update any forward-looking statement,whether as a result of new information,future events,or otherwise.Unleash InnovationTSMC,Ltd32025TSMC PropertyStatements of Comprehensive IncomeSelected Items from Statements of Comprehensive Income 1Q25(In NT$billions unles

5、s otherwise noted)GuidanceNet Revenue(US$billions)25.5325.0-25.826.8818.87-5.1%+35.3%Net Revenue839.25868.46592.64-3.4%+41.6%Gross Margin58.8%57.0%-59.0%59.0%53.1%-0.2 ppt+5.7 pptsOperating Expenses(85.19)(86.34)(65.36)-1.3%+30.3%Operating Margin48.5%46.5%-48.5%49.0%42.0%-0.5 ppt+6.5 pptsNon-Operati

6、ng Items23.8223.0917.52+3.2%+35.9%Net Income Attributable to Shareholders of the Parent Company361.56374.68225.49-3.5%+60.3%Net Profit Margin43.1%43.1%38.0%0.0 ppt+5.1 pptsEPS(NT Dollar)13.9414.458.70-3.5%+60.4%ROE32.7%36.2%25.4%-3.5 ppts+7.3 pptsShipment(Kpcs,12-equiv.Wafer)3,2593,4183,030-4.7%+7.6

7、%Average Exchange Rate-USD/NTD32.8832.832.3031.40+1.8%+4.7%*Diluted weighted average outstanding shares were 25,929mn units in 1Q25*ROE figures are annualized based on average equity attributable to shareholders of the parent company1Q254Q241Q241Q25Over4Q241Q25Over1Q24Unleash InnovationTSMC,Ltd42025

8、TSMC Property1Q25 Revenue by Technology-50 100 150 200 250 300 350 400 450 500 550 600Revenue(NT$B)7nm5nm3nm7nm and Below Revenue0.11/0.13um 2%90nm 1%0.25um and above 0%40/45nm 3%28nm7%16/20nm 7%0.15/0.18um 3%65nm 4%7nm15%5nm36%3nm22%Unleash InnovationTSMC,Ltd52025TSMC Property1Q25 Revenue by Platfo

9、rm+7%-22%-9%+14%+8%+20%Growth Rate by Platform(QoQ)Automotive5%DCE1%Others2%IoT5%SmartphoneAutomotiveOthersHPCIoTDCEHPC59%Smartphone28%Unleash InnovationTSMC,Ltd62025TSMC PropertyBalance Sheets&Key IndicesSelected Items from Balance Sheets(In NT$billions)Amount%Amount%Amount%Cash&Marketable Securiti

10、es2,703.09 37.9%2,422.02 36.2%1,922.66 33.2%Accounts Receivable243.95 3.4%272.094.1%201.983.5%Inventories293.394.1%287.864.3%267.124.6%Long-term Investments160.792.2%149.042.2%138.472.4%Net PP&E3,400.81 47.7%3,234.98 48.3%3,051.85 52.7%Total Assets7,133.29 100.0%6,691.94 100.0%5,787.89 100.0%Current

11、 Liabilities1,399.80 19.6%1,264.53 18.9%1,026.18 17.7%Long-term Interest-bearing Debts986.9813.8%958.4314.3%965.5616.7%Total Liabilities2,531.66 35.5%2,368.36 35.4%2,122.18 36.7%Total Shareholders Equity4,601.63 64.5%4,323.58 64.6%3,665.71 63.3%Key IndicesA/R Turnover DaysInventory Turnover DaysCurr

12、ent Ratio(x)Asset Productivity(x)*Total outstanding shares were 25,933mn units at 3/31/25*Asset productivity=Annualized net revenue/Average net PP&E831Q254Q241Q2428273180902.42.42.41.01.10.8Unleash InnovationTSMC,Ltd72025TSMC PropertyCash Flows*Free cash flow =Cash from operating activities Capital

13、expenditures(In NT$billions)1Q254Q241Q24Beginning Balance2,127.631,886.781,465.43Cash from operating activities625.57620.21436.31Capital expenditures(330.83)(361.95)(181.30)Cash dividends(103.72)(103.73)(77.80)Bonds payable16.20(1.75)22.80Investments and others59.9588.0732.76Ending Balance2,394.802,

14、127.631,698.20Free Cash Flow294.74258.26255.01*Unleash InnovationTSMC,Ltd82025TSMC Property2Q25 GuidanceRevenue to be between US$28.4 billion and US$29.2 billionBased on our current business outlook,management expects:And,based on the exchange rate assumption of 1 US dollar to 32.5 NT dollars,manage

15、ment expects:Gross profit margin to be between 57%and 59%Operating profit margin to be between 47%and 49%Unleash InnovationTSMC,Ltd92025TSMC PropertyFuture OutlookBased on our current business outlook,management expects:2025 revenue to increase by close to mid-20s%in US dollar termsWhile we have not

16、 seen any changes in our customers behavior so far,uncertainties and risks from the potential impact from tariff policies exist.Wewill continue to closely monitor the potential impact on the end marketdemand and manage our business prudently.From 2024 to 2029,management expects:Revenue CAGR to appro

17、ach 20%in US dollar termsLong-term gross margin to be 53%and higherROE to be greater than 25%through the cycleUnleash InnovationTSMC,Ltd102025TSMC PropertyPlease visit TSMCs website(https:/)and Market Observation Post System(https:/.tw)for details and other announcementsTSMC and MediaTek Demonstrate

18、 First Integrated PMU and PA for Wireless Connectivity Products on N6RF+Process Technology(2025/03/12)TSMC Intends to Expand Its Investment in the United States to US$165 Billion to Power the Future of AI(2025/03/04)TSMC Board of Directors Approved NT$4.50 Cash Dividend for the Fourth Quarter of 202

19、4 and Set June 12,2025 as Ex-Dividend Date,June 18,2025 as the Record Date and July 10,2025 as the Distribution Date(2025/02/12)TSMC Board of Directors Approved the Convening of the 2025 Annual Shareholders Meeting on June 3,2025(2025/02/12)TSMC Details the Impact of Earthquake.The Company Estimated Related Earthquake Losses to Be Approximately NT$5.3 billion,Net of Insurance Claim,and Will Recognize It in the First Quarter of 2025(2025/02/10)Recap of Recent Major EventsUnleash InnovationTSMC,Ltd112025TSMC Propertyhttps:/