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Global Family, Global Solutions! 2025/11/04 GlobalWafers (6488TT) Q3 2025 Earnings Call
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Disclaimer This presentation has been prepared by GlobalWafers Co., Ltd. (the “Company”). This presentation and the materials provided herewith do not constitute an offer to sell or issue or the solicitation of an offer to buy or acquire securities of the Company in any jurisdiction or an inducement to enter into investment activity, nor may it or any part of it form the basis of or be relied on in connection with any contract or commitment whatsoever. Any decision to purchase securities in a proposed offering should be made solely on the basis of the information contained in the offering circular published in relation to such proposed offering, if any. The information contained in this presentation has not been independently verified. No representation, warranty or undertaking, express or implied, is made as to, and no reliance should be placed on, the fairness, accuracy, completeness or correctness of the information or the opinions contained herein. The information contained in this document should be considered in the context of the circumstances prevailing at the time and has not been, and will not be, updated to reflect material developments which may occur after the date of the presentation. None of the Company nor any of its affiliates, advisors or representatives will be liable (in negligence or otherwise) for any loss howsoever arising from any use of this presentation or its contents or otherwise arising in connection with the presentation.
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© GlobalWafers Co., Ltd. All rights reserved. 01 Executive Comment 3
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© GlobalWafers Co., Ltd. All rights reserved. Executive Comments ➢ Financial Highlights ◼ Revenue ✓ Q3251 → NT$14.5 billion, -9.46% QoQ ✓ 3Q252 → NT$46.1 billion, -0.40% YoY ◼ Gross Profit % ✓ Q3251 → 18.4% ✓ 3Q252 → 23.6% ◼ Operating Income % ✓ Q3251 → 8.5% ✓ 3Q252 → 13.6% 4 Note: 1. Q325: Third quarter of 2025 2. 3Q25: First three quarters of 2025
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© GlobalWafers Co., Ltd. All rights reserved. Executive Comments ➢ Financial Highlights ◼ Net Profit % ✓ Q3251 → 13.6% ✓ 3Q252 → 11.1% ◼ EPS ✓ Q3251 → NT$4.12 ✓ 3Q252 → NT$10.68 ◼ Prepayment ✓ NT$26.5 billion (US$0.87 bn)1 5 Note: 1. Q325: Third quarter of 2025 2. 3Q25: First three quarters of 2025 3. FX Rate: NTD:USD = 30.45, including guarantee
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© GlobalWafers Co., Ltd. All rights reserved. Executive Comments ➢ Industry & Overview ◼ Global Economy ✓ Anchored Inflation & Policy Tailwinds: Inflation expectations remain well-anchored, allowing central banks to reduce policy rates and support growth. However, elevated tariffs and policy uncertainty continue to weigh on consumer demand and business investment. ✓ Resilience Factors: Global GDP is projected to moderate gradually from 2024–2026, showing resilience, supported by strong U.S. AI investment. ✓ Regional Outlook: Global growth varies by region, with the U.S. under pressure from tariffs and weakening employment, consumer spending starting to slow, Europe seeing gradual GDP and inflation improvements amid energy and trade risks, and APAC slowing moderately while China faces higher inflation and slower growth. 6
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© GlobalWafers Co., Ltd. All rights reserved. Executive Comments ➢ Industry & Overview ◼ Semiconductor Industry ✓ The semiconductor market sees strong momentum in AI-related advanced nodes but remain conservative for mainstream and mature segments. AI and advanced logic drive outsized revenue growth, led by hyperscaler and cloud investments, while mature nodes and consumer-driven segments remain subdued. ✓ While semiconductor revenues have rebounded quickly due to AI-driven ASP growth, wafer demand reflects a milder recovery in volume shipments, highlighting the divergence between ASP-driven revenue and volume-based wafer consumption. ✓ Trade tensions and tariffs could further distort regional demand. Overall, the upcycle exists but is fragile and structurally bifurcated, accelerating local replacement. ✓ Looking ahead, as market inventory adjustments near completion and AI applications continue to expand across more industries, wafer demand is expected to recover steadily. GlobalWafers will continue to enhance its technology and operational efficiency, strengthen its global footprint and localized supply, and capture long-term opportunities arising from AI, high-performance computing, and localization trends to seize the industry’s recovery momentum and drive sustainable long-term growth. 7
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© GlobalWafers Co., Ltd. All rights reserved. Executive Comments ➢ Industry & Overview ◼ GlobalWafers’ Global Expansion and Regional Footprint ✓ GlobalWafers’ capacity expansion is progressing steadily across the U.S. and Europe, advancing in phases alongside its well-established bases in Asia to build a resilient global network. ✓ The inauguration of the Novara plant in Italy marks a major milestone in Europe, supporting the region’s goals for renewable energy and stronger supply-chain capabilities. GlobalWafers continues to strengthen customer collaboration and localized manufacturing to enhance flexibility and market proximity—reinforcing the company’s global resilience and long-term competitiveness. Novara, together with GlobalWafers’ sites in Europe, U.S. and Asia plants, forms a key part of the company’s worldwide production network. ◼ GlobalWafers’ New Materials R&D and Technology Development ✓ GlobalWafers continues to strengthen its capabilities in advanced materials as part of its long-term technology roadmap. Building on its strong foundation in silicon, the company has advanced the development of the square silicon wafer and the 12-inch silicon carbide (SiC) wafer, reflecting steady progress in large-size material research and process development, laying the groundwork for next- generation wafer technologies. 8
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© GlobalWafers Co., Ltd. All rights reserved. 450 460 470 480 490 500 510 520 530 Q124 Q224 Q324 Q424 Q125 Q225 Q325 13500 14000 14500 15000 15500 16000 16500 TWD MREV USD MREV(US$ Mn) (NT$ Mn) 31.5 32.4 32.3 32.4 32.9 30.8 29.7 Stable Performance in USD Terms 9 ◼ The New Taiwan dollar strengthened notably in the first half of 2025 and slightly weakened after August, continuing to weigh on revenue in NTD terms. As GlobalWafers’ revenue is mainly U.S. dollar–denominated, the stronger NTD made results appear softer when converted to local currency. ◼ In U.S. dollar terms, GlobalWafers reported Q3 2025 revenue of USD 0.49 billion (–5.95% QoQ / –0.66% YoY), and cumulative revenue for the first three quarters reached USD 1.48 billion (+2.45% YoY), the annual revenue trend turned from a decline in New Taiwan dollar terms to growth in U.S. dollar terms. USD: TWD FX Rate Nominal TWD Revenue Compared to USD Revenue and Exchange Rate
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© GlobalWafers Co., Ltd. All rights reserved. 02 Company Overview 10
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© GlobalWafers Co., Ltd. All rights reserved. Monetary Policy and AI Support Economic Resilience Amid Uncertainty ◼ Anchored inflation expectations enable ongoing policy rate reductions, enhancing financial conditions and stimulating consumption and investment despite elevated tariffs and economic uncertainty. ◼ Global Growth Resilience: Global GDP projected to moderate gradually from 3.3% (2024) → 3.2% (2025) → 2.9% (2026), showing resilience despite tariffs and uncertainty, supported by strong AI investment in the U.S. ◼ Monetary Policy Tailwind: Easing policy rates in major economies can improve financial conditions, support consumption and investment, and provide positive effects for overall economic activity. Source: 1. Organization for Economic Cooperation and Development (OECD), September 2025 Note: 1. A group of 19 countries and the EU representing major global economies. 2.9 2.9 1.5 1 3.2 3.2 1.8 1.2 3.3 3.4 2.8 0.8 0 0.5 1 1.5 2 2.5 3 3.5 World G20 U.S. Euro area 2024 2025 2026 Real GDP Growth Projections for 2024, 2025 and 2026, %, Year-on-Year Global GDP shows resilience amid tariffs and uncertainty, underpinned by strong U.S. AI investment 1 11
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© GlobalWafers Co., Ltd. All rights reserved. AI and Advanced Nodes Drive Wafer Fab Equipment Growth ◼ WFE Market Expansion Accelerates: Driven by AI’s structural growth, the Wafer Fab Equipment (WFE) market is projected to reach US$110.8B in 2025 and US$122.1B in 2026, with foundry and logic segments rising 6.7% YoY to US$64.8B in 2025 and 6.6% to US$69.0B in 2026 amid 2nm ramp-ups and strengthening memory demand. ◼ GlobalWafers Aligned with Industry Momentum: Leveraging capacity expansion across AI, HPC, power, and sensing applications, GlobalWafers is positioned to capture this structural upcycle—ensuring utilization, operational stability, and readiness for next-generation technology nodes. 12 Semiconductor Equipment Sales by Segment WFE Sales by Applications 104.3 110.8 122.1 50 60 70 80 90 100 110 120 130 2024 2025E 2026E (US$ Bn) 60.8 64.8 69.0 10.0 13.7 15.019.5 20.7 23.214.0 11.6 14.9 50 60 70 80 90 100 110 120 130 2024 2025E 2026E Foundry/Logic NAND DRAM Other (US$ Bn) Source: SEMI Equipment Market Data Subscription, July 2025
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© GlobalWafers Co., Ltd. All rights reserved. Tentative Signs of Stabilization Amid Cautious Outlook ◼ Inventory Trends Show Gradual Improvement: Following a tariff-driven spike earlier in 2025, Days of Inventory (DOI) have moderated to 135 days in Q2, signaling end-customers are drawing down existing inventories. ◼ Regional Performance Diverges: While most regions recorded sequential growth, a high comparison base in Q225 has constrained momentum, and recovery in Japan remains subdued. Market visibility outside of AI remains moderate, with AI-driven demand serving as the primary growth catalyst. 13Source: 1. GWC Intelligence Note: 1. Based on GWC’s existing customers as of 2Q25 137 132 131 138 140 130 128 137 135 126 128 130 132 134 136 138 140 142 Q223 Q323 Q423 Q124 Q224 Q324 Q424 Q125 Q225 (Days) 4% -4% 15% 8% 10% -30% -20% -10% 0% 10% 20% 30% Q223 Q323 Q423 Q124 Q224 Q324 Q424 Q125 Q225 Europe Japan Korea North America Taiwan Global Customer Quarterly Revenue Growth by Region¹Global Semiconductor Days of Inventory (Q223-Q225)
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© GlobalWafers Co., Ltd. All rights reserved. U.S. Chip Reshoring & GWC Expansion ◼ Increasing U.S. Reshoring and Investment: The U.S. is rapidly rebuilding its chip ecosystem, with over US$500 billion in announced private investments expected to triple domestic chipmaking capacity by 2032 and create 500,000+ jobs. ◼ With U.S. fab capacity growth outpacing the global average and signs of rising semiconductor sales from both Integrated Device Manufacturers (IDMs) and Pure-Play Foundries, GWC’s expansion is well positioned to capture growth and strengthen the U.S. share. Projected Increases in U.S Fab Capacity vs World Average 81 108 11 203 0 50 100 150 200 250 2012-2022 2022-2032 World U.S U.S. Fab Capacity Growth Outpaces Global Average U.S. Fab Capacity Growth Outpaces Global Average (% Change in Capacity) Source: McKinsey & Company, April 2022 & January 2024 14 0% 20% 40% 60% 80% 100% 2020 2024 U.S. Europe Rest of world China Taiwan Semiconductor Sales by Value Chain & Region (2020–2024) — Pure-play Foundries 0% 20% 40% 60% 80% 100% 2020 2024 U.S. Europe Rest of world China Taiwan Semiconductor Sales by Value Chain & Region (2020–2024) — Integrated device manufactures (IDMs) The U.S. Is a Key Semiconductor Hub !
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© GlobalWafers Co., Ltd. All rights reserved. U.S. Expansion Progress: Strengthening Semiconductor Supply Chain ◼ In recent years, semiconductor companies have made large-scale supply chain investments in the United States — spanning manufacturing, equipment, materials, R&D, design, and advanced packaging — fueling the rapid emergence of regional industry clusters. ◼ GlobalWafers’ U.S. sites are strategically located in key clusters — Texas (GWA) as a flagship 12-inch wafer fab and Missouri (MEMC) as a hub for SOI and photonics — with expansion plans supporting customers’ localization strategies. 15 Semiconductor Supply Chain Investment Announcements, 2020-2025 Source: 1. Semiconductor Industry Association (SIA), America's Chip Resurgence, 2025/07 Expansion Progress of GlobalWafers’ U.S. Facilities • Pilot production launched May 2025; full capacity by 2H 2026 • Strong RF-SOI and Silicon Photonics demand with multiple customer sample requests • Validation accelerated, aligned with customer requirements • Capacity ramp-up planned after validation, ensuring market flexibility GWA site (Texas) MEMC LLC (Missouri) Materials Semiconductor (Fab) Equipment R&D Facility Chip Design Packaging
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© GlobalWafers Co., Ltd. All rights reserved. FAB300 Inauguration: Europe’s Fully Integrated 12” Wafer Plant ◼ GlobalWafers inaugurated FAB300 in October 2025 with a €450M investment in Novara, Italy which will be supported by €103M in IPCEI funding, it is one of Europe’s few fully integrated 12” wafer plants, creating 150 skilled jobs and reinforcing Europe’s semiconductor ecosystem. The plant has already begun sample deliveries and limited-volume shipments. ◼ The plant will produce polished and epitaxial wafers for logic, memory, power, and sensors, powered entirely by renewable energy in full alignment with RE100 standards and targeting approximately 50% water recycling. Together with U.S. and Asia hubs, FAB300 ensures global coordination while maintaining a strong regional presence. 16 Strengthening Europe’s Semiconductor Ecosystem Supply Chain & ESG Advantage Fully Integrated Value Chain From crystal growth to finished wafers RE100 Compliance 100% renewable energy, ~50% water recycling Global Resilience U.S. & Asia hubs complement Europe 12” Portfolio Polished & epitaxial wafers for logic, memory, power, sensors Skilled Jobs 150 jobs created, reinforcing local expertise
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© GlobalWafers Co., Ltd. All rights reserved. Next-Generation Wafer R&D Progress ◼ GlobalWafers continues to advance new materials development in line with its roadmap. The company has completed prototypes of the square silicon wafer and the 12-inch silicon carbide (SiC) wafer, both of which have completed prototype development, entering the sampling and pilot production stage. ◼ Leveraging its extensive experience in wafer manufacturing and equipment capabilities, GlobalWafers is steadily addressing the challenges of larger wafer sizes and square wafer technology, while reinforcing long-term competitiveness through sustained R&D investment and patent deployment. 17 Technology Progress Market Potential 2.5D / 3D Packaging Trend 12” SiC Wafer for Superior Thermal Management and Heat Dissipation AI / HPC Power Density ↑ Square Silicon Wafer for Large-area Design and Higher Material Utilization Square Wafer Prototype Development Square & 12” SiC, Samples Delivered and Pilot Production R&D Investment Broad Patent Coverage Process Know-how Addressed Key Challenges in Slicing, Grinding, Polishing and Cleaning Capability Leverage Leverage 12” Silicon & small-size SiC Manufacturing Experience to Reduce Adoption Risk Join- Development Co-developing Equipment; Strengthening Supply Chain & Ecosystem
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© GlobalWafers Co., Ltd. All rights reserved. 03 Financial Performance 18
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© GlobalWafers Co., Ltd. All rights reserved. Financial Highlight : Q325 vs. Q225 vs. Q324 (NT$Mn, except EPS) Q325 Q225 Q324 QoQ YoY Revenue 14,493 16,008 15,870 -9.5% -8.7% Gross Profit % 18.4% 25.8% 30.0% -7.4p.p. -11.6p.p. Operating Income 1,230 2,438 3,200 -49.6% -61.6% Operating Income % 8.5% 15.2% 20.2% -6.7p.p. -11.7p.p. Net Profit 1,969 1,682 2,952 17.1% -33.3% Net Profit % 13.6% 10.5% 18.6% 3.1p.p. -5.0p.p. EPS1 NT$4.12 NT$3.52 NT$6.18 NT$0.6 -NT$2.06 EBITDA2 4,376 4,472 5,024 -2.1% -12.9% EBITDA % 30.2% 27.9% 31.7% 2.3p.p. -1.5p.p. EBIT3 2,013 2,027 2,922 -0.7% -31.1% ROE4 (annualized) 9.0% 7.6% 12.8% 1.4p.p. -3.8p.p. ROA5 (annualized) 4.2% 3.4% 5.4% 0.8p.p. -1.2p.p. Capex6 7,018 7,537 14,699 - - Depreciation 2,357 2,440 2,097 - - Note: 1. EPS = Net Profit Attributable To The Shareholders of The Company / Weighted -average Number of Ordinary Shares Outstanding Durin g The Period 2. EBITDA = Net Profit + Tax + Interests + Depreciation + Amortization 3. EBIT = Net Profit + Tax + interests 4. ROE = Net Profit / Average Shareholders Equity 5. ROA = (Net Profit + Interest*(1- Effective Tax Rate)) / Average Asset 6. Capex = Ending Acquisition of property, plant and equipment, and prepayments of equipment - Beginning Acquisition of property, plant and equipment, and prepayments of equipment 19
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© GlobalWafers Co., Ltd. All rights reserved. (NT$Mn, except EPS) 3Q25 3Q24 YoY Revenue 46,096 46,283 -0.4% Gross Profit % 23.6% 32.2% -8.6p.p. Operating Income 6,257 10,534 -40.6% Operating Income % 13.6% 22.8% -9.2p.p. Net Profit 5,107 9,364 -45.5% Net Profit % 11.1% 20.2% -9.1p.p. EPS1 NT$10.68 NT$20.19 -NT$9.51 EBITDA2 12,880 15,506 -16.9% EBITDA % 27.9% 33.5% -5.6p.p. EBIT3 5,817 9,561 -39.2% ROE4 (annualized) 7.5% 15.5% -8.0p.p. ROA5 (annualized) 3.4% 6.3% -2.9p.p. Capex6 26,112 37,836 - Depreciation 7,047 5,929 - Financial Highlight : 3Q25 vs. 3Q24 (Accumulated) 20 Note: 1. EPS = Net Profit Attributable To The Shareholders of The Company / Weighted -average Number of Ordinary Shares Outstanding Durin g The Period 2. EBITDA = Net Profit + Tax + Interests + Depreciation + Amortization 3. EBIT = Net Profit + Tax + interests 4. ROE = Net Profit / Average Shareholders Equity 5. ROA = (Net Profit + Interest*(1- Effective Tax Rate)) / Average Asset 6. Capex = Ending Acquisition of property, plant and equipment, and prepayments of equipment - Beginning Acquisition of property, plant and equipment, and prepayments of equipment
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© GlobalWafers Co., Ltd. All rights reserved. Revenue & Gross Profit (%) Revenue & Gross Profit (%) 21 13,515 13,701 14,006 14,137 14,806 15,208 15,364 15,752 16,307 17,540 18,053 18,388 18,616 17,896 17,376 16,763 15,087 15,326 15,870 16,343 15,595 16,008 14,493 36.5% 38.6% 37.2% 36.3% 35.1% 36.7% 39.1% 41.3% 42.6% 43.6% 43.7% 42.7% 40.6% 37.7% 36.6% 34.5% 34.3% 32.3% 30.0% 30.1% 26.4% 25.8% 18.4% Q120 Q220 Q320 Q420 Q121 Q221 Q321 Q421 Q122 Q222 Q322 Q422 Q123 Q223 Q323 Q423 Q124 Q224 Q324 Q424 Q125 Q225 Q325 Revenue Gross Profit %(NT$ Mn) Note: 1. Q3 2025 gross margin declined QoQ due to higher depreciation percentage, seasonal electricity and labor cost percentage incre ases, and costs related to expansions
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© GlobalWafers Co., Ltd. All rights reserved. 21,967 22,507 25,526 30,630 18,010 12,880 39.7% 36.8% 36.3% 43.4% 28.8% 27.9% 2020 2021 2022 2023 2024 3Q25 EBITDA & EPS 22 31.35 30.11 27.27 35.31 45.41 21.06 10.68 2019 2020 2021 2022 2023 2024 3Q25 (NT$ Mn) (NT$) EBITDA EPS EBITDA EBITDA to Revenue EPS increased if excluding the mark-to-market valuation changes on its holdings of Siltronic shares and assuming no major expansion projects were undertaken. EBITDA increased if excluding the mark-to-market valuation changes on its holdings of Siltronic shares and assuming no major expansion projects were undertaken. 22,966 36.9% 29.19 16.71 36.3% 16,233 Note: 1. Simulated figures exclude impacts from major expansions in the U.S., Italy, and Japan, as well as mark-to-market changes on Siltronic shares
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© GlobalWafers Co., Ltd. All rights reserved. Income Statement (NT$ Mn) 2024 Q125 Q225 Q325 3Q25 3Q25 (simulated)1 Revenue 62,626 15,595 16,008 14,493 46,096 44,759 Growth (%)2 -11.4% 3.4% 4.5% -8.7% -0.4% - Gross Profit 19,804 4,112 4,123 2,662 10,897 13,953 Gross Profit Margin (%) 31.6% 26.4% 25.8% 18.4%3 23.6% 31.2% EBITDA 18,010 4,033 4,472 4,376 12,880 16,233 EBITDA Margin (%) 28.8% 25.9% 27.9% 30.2% 27.9% 36.3% Operating Income 14,118 2,589 2,438 1,230 6,257 9,683 Operating Profit Margin (%) 22.5% 16.6% 15.2% 8.5% 13.6% 21.6% Profit before Tax 12,429 2,133 2,289 2,187 6,609 10,213 Profit before Tax Margin (%) 19.8% 13.7% 14.3% 15.1% 14.3% 22.8% Net Profit 9,839 1,456 1,682 1,9694 5,107 7,990 Net Profit Margin (%) 15.7% 9.3% 10.5% 13.6% 11.1% 17.90% EPS (NT$) 21.06 3.05 3.52 4.12 10.68 16.71 23 Note: 1. Simulated figures exclude impacts from major expansions in the U.S., Italy, and Japan, as well as mark-to-market changes on Siltronic shares 2. Growth figures represent year-over-year (YoY) changes 3. Q3 2025 gross margin declined QoQ due to higher depreciation percentage, seasonal electricity and labor cost percentage increases, and costs related to expansions 4. Q3 2025 net profit increased QoQ mainly from mark-to-market gains on Siltronic shares & Exchangeable Bond 5. Q3 2025 effective tax rate decreased, mainly due to certain subsidiaries recognizing tax refunds related to local regulatory changes and reversing previously accrued undistributed earnings tax, along with changes in the regional profit mix that also contributed to a lower consolidated effective tax rate.
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© GlobalWafers Co., Ltd. All rights reserved. Balance Sheet Note: 1. The balance of short-term loans comprises short-term borrowings, commercial paper payable, and the current portions of long -term borrowings, corporate bonds payable, and convertible bonds payable 2. The balance of long-term loans includes long-term borrowings, corporate bonds payable, and exchangeable bonds payable 3. Q3 2025 Cash and cash equivalents decreased mainly reflecting internal fund reallocations to support subsidiary financing needs, and partial reclassification to other current financial assets. 4. Q3 2025 Property, plant and equipment increased due to capacity expansion. 5. Q3 2025 Short-term loan increased, while Long-term loan increased, mainly due to financing structure adjustments, including reclassification of bonds maturing within one year and issuance of new corporate b onds. (NT$ Mn) 2023 2024 Q125 Q225 Q325 Assets Cash and cash equivalents 26,165 38,929 28,846 22,220 15,9473 Account receivable 10,116 10,265 10,845 10,140 10,502 Inventories 9,359 11,238 11,953 10,303 10,100 Property, plant and equipment 72,251 119,074 128,495 114,496 119,9444 Other assets 71,097 45,074 47,987 49,201 58,553 Total assets 188,988 224,581 228,126 206,361 215,047 Liabilities Short-term loan1 40,000 28,797 32,975 24,287 32,9105 Account payable 5,027 5,371 4,433 3,804 3,794 Long term loan2 14,542 37,678 39,699 43,055 42,7075 Other liabilities 62,966 61,706 60,043 50,334 45,866 Total liabilities 122,534 133,553 136,449 121,480 125,276 Shareholder equity 66,454 91,028 91,677 84,881 89,770 (NT$ Mn) Q325 Deposits in banks held for three months or more 2,937 Restricted Cash 26,395 Note 6,059 Cash-related other assets include: 24
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© GlobalWafers Co., Ltd. All rights reserved. 04 Q&A 25