Slide 1: ITEQ Corporation 2025 Third Quarter Investor Presentation
ITEQ Corporation 2025 Third Quarter Investor Presentation ITEQ INNOVATION. TEAMWORK. EXCELLENCE. QUALITY Nov 2025
Slide 2: Disclaimer Statement
Disclaimer Statement - This presentation and release contain “forward-looking statements” which may include projections of future results of operations, financial condition or business prospects based on our own information and other sources. - Our actual results of operations, financial condition o
Slide 3: Company Overview
Company Overview Establishment Headquarters Capital April 10th, 1997 HsinChu, Taiwan NT$3,630 million Employees Chairman CEO ~4,000 Dennis Chen Audrey Tsai Main Products Copper Clad Laminate (CCL) & Prepreg (PP) | Masslam service | Flexible CCL Revenue (NT$ billion) Revenue by Application (FY24) Aut
Slide 4: Key Technology Applications
Key Technology Applications Infrastructure Controlled Dk FR-4 Consumer Datacenter and Low Df Halogen Free Electronics Material Science Cloud Computing AI/5G Infrastructure Resin Mixture Process Engineering Low Dk High Ultrathin Reliability Smartphone Automotive Tablet Electronics 4
Slide 5: Growth Strategy Blueprint
Growth Strategy Blueprint ITEQ
Slide 6: Path of Innovation
Path of Innovation Widely adopted in consumer electronics New product for HDI PCB: Resin Coated Copper (RCC) Engaged with tier 1 No. 1 Taiwan CCL AI Applications CCL automotive players supplier for 5G base Dominant CCL supplier station for Intel Purley server platform Enhanced ultra-thin Biz kick-of
Slide 7: R&D and Capex to Pursuit Sustainable Growth
R&D and Capex to Pursuit Sustainable Growth R&D expense (NTD $Million) R&D expense/Revenue (%) CAPEX (NTD $Million) CAPEX/Revenue (%) 700 3% 5,000 20% 4,500 600 4,000 15% 500 3,500 2% 3,000 400 2,500 10% 300 2,000 1% 200 1,500 5% 1,000 100 500 0 0% 0 0% 2015 2016 2017 2018 2019 2020 2021 2022 2023 2
Slide 8: Optimized Mix with Product Innovation
Optimized Mix with Product Innovation Revenue Consumer Electronics Infrastructure Gross Margin Operating Margin (NTD $Million) Smartphone Automotive 25% 35,000 32,525 11% 29,130 29,378 20% 30,000 19% 20% 18% 25,422 9% 16% 25,079 20% 23,791 24,182 25,000 22,402 10% 7% 21,214 10% 19% 5% 15% 15% 15% 15
Slide 9: Market Share Leader in Specialty Laminate
Market Share Leader in Specialty Laminate 2024 WW Specialty Laminate Market Share ITEQ: Leading CCL supplier • Worldwide top supplier in high speed / frequency laminate • Cutting-edge technology with MP track record • Secular growth momentum in network infrastructure and data centers upgrading oppor
Slide 10: Well-Expanded Product Line
Well-Expanded Product Line RF Application Extreme M9 IT-88GMW IT- Low Loss Df 0.0010~0.0005 999GSE3 IT-8300GA IT-8350G Super Ultra M8 IT-998GSE2 IT-8615G Low Loss Df 0.0015~0.0010 IT-998GSE IT988G/SE Ultra M7 IT988GL/SE Low Loss Df 0.005~0.0015 IT968GSE Very M6 Low Loss Df 0.006~0.005 IT968G M4 Low
Slide 11: Manufacturing Sites & Capacity Expansion Plan
Manufacturing Sites & Capacity Expansion Plan JiangXi Plant Since 2019 Laminate (2,400K SHT/Month) Prepreg (6,000K M2 /Month) WuXi Plant Laminate (1,650K SHT/Month) Prepreq (4,000K M2 /Month) DongGuan Plant Laminate (450K SHT/Month) Prepreq (1,500K M2 /Month) GuangZhou Plant FCCL (1,150K M2/Month) H
Slide 12: Market Trend & Growth Drivers
Market Trend & Growth Drivers ITEQ
Slide 13: Hunger for High-Speed / Frequency Transmission
Hunger for High-Speed / Frequency Transmission Global Mobile Network Data Traffic (EB per month) ⚫ The Expansion of Global Mobile Network Data Traffic Continues on the Rise - AI & High-Performance Computing & Big Data Analysis - Edge computing (Enterprise enhanced infrastructure, such as data center
Slide 14: Datacenter Server Platform Upgrade
Datacenter Server Platform Upgrade Platform Purley Whitley Eagle Stream Birch Stream Oak Stream Sapphire Emerald CPU Skylake Cascade Lake Ice lake Rapids Rapids Granite Rapids Diamond Rapids Nano Process 14 nm 14 nm+ 10 nm Intel 7 Intel 7 Intel 3 Intel 18A Intel PCIe Gen PCIe 3.0 PCIe 3.0 PCIe 4.0 P
Slide 15: Advanced Auto Application Opportunities
Advanced Auto Application Opportunities Green Power/EV Internet of Vehicle Active Safety Autonomous Driving • Energy Conservation • Infotainment • Active Safety System • HPC • Power Charging • Networking • ADAS • Graphic Processing • High Current & Voltage • 多層 HDI • Radar • Automated Driving • Heav
Slide 16: 3Q25 Financial Results
3Q25 Financial Results ITEQ EXCEL
Slide 17: 3Q25 Income Statement
3Q25 Income Statement NTD $Million 3Q25 2Q25 3Q24 QoQ YoY Revenue 7,724 8,877 7,963 -13.0% -3.0% Gross Profit 1,061 1,384 934 -23.3% 13.6% Operating Expense 615 596 554 3.2% 11.0% Operating Profit 446 788 380 -43.4% 17.4% Non-Op Income / Loss 75 (118) 37 Income before Tax 521 670 417 -22.2% 24.9% Ta
Slide 18: 3Q25 Balance Sheet
3Q25 Balance Sheet NTD $Million 3Q25 2Q25 3Q24 Total Assets 34,734 34,940 36,408 Cash 4,541 3,348 5,273 NR / AR 13,344 13,537 12,909 Inventories 4,298 4,285 4,308 Fixed Assets 9,183 8,858 9,271 Total Liabilities 14,999 16,552 15,983 Short-term Debt 3,451 4,038 4,545 AP 7,451 8,000 7,392 Long-term De
Slide 19: Revenue & Gross Margin Rate
Revenue & Gross Margin Rate (Million $NTD) 19.89% 19.46% 18.52% 15.52% 15.59% 15.10% 14.92% 14.15% 14.24% 13.56% 13.73% 13.34% 12.74% 12.50% 12.24% 11.51% 11.73% 10.70% 10.70% 8,930 8,877 8,168 8,030 8,269 7,963 7,724 7,397 7,646 7,596 7,664 7,580 6,863 6,645 6,744 6,352 6,260 6,155 5,430 1Q21 2Q21
Slide 20: Product Mix
Product Mix Consumer Electronics Infrastructure Smartphone Automotive 3Q25 18% 18% 18% 18% 15% 17% QoQ YoY 20% 20% 20% 21% 20% Product Growth 5% 5% 5% 6% 5% 4% 5% 6% 6% 5% 5% Automotive -1.4% -8.4% Smartphone -13.0% -3.0% 58% 68% Infrastructure -13.0% +1.5% 59% 60% 62% 62% 65% 64% 66% 68% 63% Consum
Slide 21: Dividend Policy
Dividend Policy Cash Year EPS(NT$) Dividend(NT$) Pay-out Ratio(%) Dividend(NT$) 2019 8.13 5.0 5.0 62% 2020 8.19 5.0 5.0 61% 2021 9.00 5.0 5.0 56% 2022 4.94 3.0 3.0 61% 2023 1.86 1.5 1.5 81% 2024 2.26 1.8 1.8 80% *New shares issuance of 30 million common shares concluded on March 31 st 2020 **New sha
Slide 22: Thank you
Thank you Question and Comment
Slide 23: Appendix
Appendix ITEQ
Slide 24: CCL & PP Manufacturing Flow
CCL & PP Manufacturing Flow Core Technology 1: Material Science Resin Accelerator Hardener Copper Foil Core Technology 2: Copper Clad Resin Mixture Prepreg Laminate (CCL) ∞ (PP) Treating Mixture Glass Fiber Cutting Ply-up Lamination Inspection Core Technology 3: Process Engineering 24
Slide 25: CCL & PP Composite Structure
CCL & PP Composite Structure CCL Manufacturing Process CCL/PP Glass Mixture Fiber Resin Accelerator CCL Hardener Copper CCL PP Foil 25
Slide 26: AI Server Robust Demand to Drive CCL Content Growth
AI Server Robust Demand to Drive CCL Content Growth AI Server CPU*2 Mainboard AI Server GPU OAM*8 AI Server GPU UBB (Content Value – mid) (Content Value – high) (Content Value – high) CPU MB GPU Tray CCL: Very Low Loss CCL: Very Low Loss CCL: Ultra Low Loss / VLL Layer Count: 14 to 24 Layer count: 2