Slide 1: Q4 2025 Investor Conference
Q4 2025 Investor Conference Feb 11th, 2026 Embedded Wisely, Embedded Widely Embedded Wisely, Embedded Widely
Slide 2: IPR Notice
IPR Notice All rights, titles and interests contained in this information, texts, images, figures, tables or other files herein, including, but not limited to, its ownership and the intellectual property rights, are reserved to eMemory. This information may contain privileged and confidential inform
Slide 3: Cautionary Statement
Cautionary Statement This presentation contains forward-looking statements, which are subject to risk factors associated with semiconductor and intellectual property business. It is believed that the expectations reflected in these statements are reasonable. But they may be affected by a variety of
Slide 4: Contents
Contents 1 Review of Operations 2 Future Outlook eMemory's technology enables AI memory 3 systems to be high-yield, reliable, and secure 4 Q&A 5 Appendix Embedded EmbeddedWisely, Wisely,Embedded EmbeddedWidely Widely 4
Slide 5: Review of Operations
Review of Operations Embedded Wisely, Embedded Widely 5
Slide 6: Q4 2025 Financial Results
Q4 2025 Financial Results (thousands of NT dollars) Q4 2025 FY2025 Q3 2025 QoQ Q4 2024 YoY FY2024 YoY (unaudited) (unaudited) Revenue 1,048,362 952,422 10.1% 1,010,717 3.7% 3,849,053 3,605,968 6.7% Gross Margin 100.0% 100.0% - 100.0% - 100.0% 100.0% - Operating Expenses 412,617 404,068 2.1% 444,784
Slide 7: Revenue across Different Streams
Revenue across Different Streams Q4 Revenue Breakdown (NT$ K) 25Q4 in comparison to 25Q3 Royalty $1,000,000 25Q4 25Q3 66.9% $500,000 Licensing $0 33.1% Licensing Royalty NT$ Thousands Q4 2025 Q3 2025 QoQ Q4 2024 YoY FY2025 FY2024 YoY Licensing 346,572 347,011 -0.1% 315,330 9.9% 1,251,776 1,134,009 1
Slide 8: Revenue by Technology—Q4 2025
Revenue by Technology—Q4 2025 Q4 Total Revenue Breakdown 25Q4 in comparison to 25Q3 (NT$ K) NeoFuse $800,000 25Q4 25Q3 58.5% PUF-Based 10.2% $600,000 $400,000 MTP $200,000 8.8% NeoBit $0 22.5% NeoBit NeoFuse PUF-Based MTP Q4 2025 Total Revenue Licensing Revenue Royalty Revenue Technology % of % of %
Slide 9: Revenue by Technology—FY
Revenue by Technology—FY Total Revenue Breakdown FY25 in comparison to FY24 (NT$ K) NeoFuse 2025 2024 $2,500,000 59.9% PUF-Based 5.9% $2,000,000 $1,500,000 $1,000,000 MTP $500,000 9% NeoBit $0 25.2% NeoBit NeoFuse PUF-Based MTP FY2025 Total Revenue Licensing Revenue Royalty Revenue Technology % of %
Slide 10: Royalty Revenue by Wafer Size
Royalty Revenue by Wafer Size (NT$ K) 25Q4 in comparison to 25Q3 Q4 Royalty Breakdown $500,000 25Q4 25Q3 12-Inch 63.8% $400,000 $300,000 $200,000 $100,000 8-Inch $0 36.2% 8-Inch 12-Inch Q4 2025 FY 2025 NT$ % of Royalty QoQ YoY % of Royalty YoY 8-Inch 36.2% 3.3% -10.5% 39.7% 0.1% 12-Inch 63.8% 24.5%
Slide 11: Future Outlook
Future Outlook Embedded Wisely, Embedded Widely 11
Slide 12: Future Outlook—Licensing & Royalty Growth
Future Outlook—Licensing & Royalty Growth ◼ For Licensing revenue, we expect continued strong growth, driven by increases in both the number of licenses and the average license price across our foundry and fabless customers. ◼ For Royalties, growth is accelerating, driven by the ramp-up of mass prod
Slide 13: Future Outlook—Technologies & Business Development
Future Outlook—Technologies & Business Development IP & Security Platforms ◼ OTP: Advanced GAA OTP IP development with leading foundries, extending toward sub-3nm nodes. ◼ RRAM: Embedded RRAM platforms with key foundries and IDM for FinFET, BCD and automotive applications. ◼ NeoFlash: Deployment acr
Slide 14: Embedded Wisely, Embedded Widely
Embedded Wisely, Embedded Widely
Slide 15: eMemory's technology enables AI memory systems to be high-yield, reliable, and secure
eMemory's technology enables AI memory systems to be high-yield, reliable, and secure 15
Slide 16: Core Technology: Logic Process NVM
Core Technology: Logic Process NVM OTP NeoBit (8-inch Wafer Processes) NeoFuse (12-inch Wafer Processes) NeoEE Logic Process NVM MTP NeoMTP NeoFTP Flash NeoRRAM NeoFlash Yield Enhancement Performance Flexibility Fundamental Security • Memory repair for DRAM/SRAM • Code storage & execution • Hardware
Slide 17: Logic NVM Solving the Pain Points of Traditional NVM
Logic NVM Solving the Pain Points of Traditional NVM Process Complexity Cost Efficiency Yield Rate Development Cycle Scalability 17
Slide 18: PUF-Based Hardware Security
PUF-Based Hardware Security • Secure OTP • TRNG Root of Trust • NeoPUF • PUFrt Crypto • PUFcc From OTP to PUF -processors • PUFhsm • RSA • SHA Cryptography • ECC • PQC • AES • …. etc. PUF evolves from OTP technology • NIST CAVP (PQC) — the invisible, unique, unclonable hardware key (FIPS 203/204/205
Slide 19: Where eMemory Fits: AI Memory System
Where eMemory Fits: AI Memory System High Yield, Low Cost SRAM • OTP repair for embedded memory (AI Accelerator: (SRAM/HBM/DRAM) SRAM embedded in GPU/TPU/NPU) • MTP-based updateable DIMM configuration (DDR5/SOCAMM) • Cost-effective AI chip mass production HBM Embedded (On-package 3D DRAM) Memory Rep
Slide 20: Q&A
Q&A Embedded Wisely, Embedded Widely 20
Slide 21: Appendix
Appendix Embedded Wisely, Embedded Widely 21
Slide 22: Company Overview
Company Overview ▪ eMemory is the global leader of embedded non-volatile memory IP Revenue Trend (Unit: NT$ 1,000) 4,500,000 4,000,000 Royalty License/Design Revenue 3,500,000 3,000,000 2,500,000 2,000,000 1,500,000 1,000,000 500,000 0 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017
Slide 23: Quarterly Revenue Pattern
Quarterly Revenue Pattern ▪ 1st month: Receive License Fees of the month and Royalty from most foundries on previous quarter’s wafer shipments. ▪ 2nd month: Receive License Fees of the month and Royalty from other foundries. ▪ 3rd month: License Fees Only. (Unit: NT$ 1,000) 2020 2021 2022 2023 2024
Slide 24: Quarterly Number of New Tape-outs
Quarterly Number of New Tape-outs 2020 2021 2022 2023 2024 2025 (Unit: IP Numbers) 3nm 250 5nm 201 7nm 200 179 181 16nm 184 171 173 149 154 160 28nm 149 143 150 154 138 150 134 136 143 150 147 139 137 40nm 137 109 55nm 103 100 80nm 0.13um 0.18um 50 0.25um 0 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2
Slide 25: Cumulative Advanced-Node Tape-outs
Cumulative Advanced-Node Tape-outs 3nm–7nm Adoption 12nm/16nm Adoption Driven by Driven by AI and Networking and Advanced SoC Storage 55 tape-outs 77 tape-outs 18 Defense-related 15 MultiMedia 9 AI SoC 13 Network IC 5 SSD Controller 11 SSD controller 4 Network IC 3 ISP 7 AI SoC 3 FPGA 7 MCU Embedded
Slide 26: Worldwide Customers
Worldwide Customers ▪ Our IP solutions are adopted by leading foundries, IDMs and fabless worldwide Country Foundry IDM Fabless Taiwan 4 1 350 China 12 0 1361 max_logo_header_25yrs Korea 4 0 103 Japan 1 9 88 North 2 2 368 America Europe 2 2 237 Others 1 0 127 Embedded Wisely, Embedded Widely 26
Slide 27: Business Model
Business Model ▪ Recurring royalty is the backbone of our business License Fee: ≈30% ▪ Around 70% revenue are from royalty based on wafer production Royalty: ≈70% ▪ More adoption = more volume shipment ▪ More advanced node wafers = higher ASP per wafer Revenue Breakdown 1-4 years 1-4 years License F
Slide 28: Technology Licenses
Technology Licenses Number of Licenses Year 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 License 43 20 26 18 28 32 29 48 41 63 Note: Terms (including number of process platforms and licensing fees) for each technology license are set contractually. Payments are made according to set milestones,
Slide 29: Technology Development
Technology Development ▪ Developments by process nodes 12" Fabs Production Development IP Type Process Type 2nm 0 4 OTP, PUF Nanosheet 3nm 2 4 OTP, PUF FF, FFP 4/5nm 6 2 OTP, PUF FF, FF-Auto 6/7nm 4 2 OTP, PUF FF, FF+ 12/16/17nm 16 15 OTP, PUF, MTP FF, FF+, FFC. FFC+, LPP, DRAM, HV LP/ULP/ULL, HPC/H
Slide 30: For more information, please visit
Embedded Wisely, Embedded Widely For more information, please visit: eMemory Website: https://www.ememory.com.tw/ PUFsecurity Website: https://www.pufsecurity.com/ Embedded Wisely, Embedded Widely 30