Slide 1: Q2 2025 Investor Conference
Q2 2025 Investor Conference Aug 15th, 2025 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 3 Chiplet Supply Chain Secured by NeoPUF 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: Q2 2025 Financial Results
Q2 2025 Financial Results (thousands of NT dollars) Q2 2025 Q1 2025 QoQ Q2 2024 YoY H1 2025 H1 2024 YoY Revenue 936,535 911,734 2.7% 893,010 4.9% 1,848,269 1,695,774 9.0% Gross Margin 100% 100% - 100% - 100% 100% - Operating Expenses 390,644 389,387 0.3% 397,829 -1.8% 780,031 779,972 0.0% Operating
Slide 7: Revenue across Different Streams
Revenue across Different Streams (NT$ K) 25Q2 in comparison to 25Q1 Revenue Breakdown $1,000,000 25Q1 25Q2 Royalty 66% $500,000 $0 Licensing Licensing Royalty 34% Revenue NT$ Thousands Q2 2025 Q1 2025 QoQ Q2 2024 YoY H1 2025 H1 2024 YoY Licensing 317,976 240,217 32.4% 299,711 6.1% 558,193 528,040 5.
Slide 8: Revenue by Technology
Revenue by Technology (thousands of NT dollars) Q2 2025 Total Revenue Licensing Revenue Royalty Revenue Technology % of Q2 % of Q2 % of Q2 QoQ YoY QoQ YoY QoQ YoY Revenue Licensing Royalty NeoBit 23.8% -1.9% -3.7% 18.8% 5.6% -18.6% 26.4% -4.3% 3.3% NeoFuse 60.0% -7.0% 8.2% 39.4% 6.3% 25.5% 70.5% -10
Slide 9: Royalty Revenue by Wafer Size
Royalty Revenue by Wafer Size Q2 Royalty Breakdown • 8-inch wafers contributed 40% of royalty, down 13.4% 12-inch sequentially and down 2% yearly. 60% • 12-inch wafers contributed 60% of royalty, down 3.8% sequentially but up 8.8% yearly. 8-inch 40% Q2 2025 H1 2025 Wafer Size % of Q2 QoQ YoY % of H1
Slide 10: Future Outlook
Future Outlook Embedded Wisely, Embedded Widely 10
Slide 11: Future Outlook
Future Outlook Licensing & Royalty: ◼ Licensing: − We anticipate that licensing revenue will continue its growing momentum due to very strong demand from both foundries and fabless customers for our IPs. ◼ Royalties: – We expect royalty revenue to continue its growth trend as the accumulated tape ou
Slide 12: Future Outlook
Future Outlook New IP Technology & Business Development: ◼ New IP Technologies: − Our new Post-Quantum Cryptography (PQC) has been fully developed and certified under NIST’s CAVP program, covering the published FIPS 203 (ML-KEM) and FIPS 204 (ML-DSA) standards. This marks the official launch of our
Slide 13: Embedded Wisely, Embedded Widely
Embedded Wisely, Embedded Widely 13
Slide 14: Chiplet Supply Chain Secured by NeoPUF
Chiplet Supply Chain Secured by NeoPUF 14
Slide 15: Security Challenges in Chiplets
Security Challenges in Chiplets Chiplet Authentication Supply Chain between Chiplets IP Piracy 01 01 Primary Components IP theft e.g. Core / Accelerator Malicious Parts Enabling Components 02 02 “Trojan” chiplets may exist e.g. I/O Counterfeit Parts 03 03 Supportive Components Unauthorized chiplets
Slide 16: NeoPUF for Supply Chain Security
NeoPUF for Supply Chain Securiy Design Fab./ Packaging Deployment IP Piracy Malicious Parts Counterfeit Parts NeoPUF NeoPUF NeoPUF Built-in HUK, eliminating the Each component carries a PUF Keys & certificates generated need for key injection UID for device management by the PUF assist in supply cha
Slide 17: Authentication between Chiplets
Authentication between Chiplets Security Hardware Authentication Requirment Root of Trust Scheme • Anti-Tampering Primary • Secure Storage • Two-way Authentication Components High • Unique ID • Asymmetric Crypto • TRNG • Anti-Tampering Enabling • Secure Storage • One-way Authentication Moderate • Un
Slide 18: NeoPUF-based Solutions for Chiplet Security
NeoPUF-based Solutions for Chiplet Security Cryptographic Accelerator (One-way symmetric authentication) Secure Storage (For key / certificates) Hardware Root of Trust (UID / Key) Crypto Coprocessor (Two-way asymmetric authentication) 18
Slide 19: Q&A
Q&A Embedded Wisely, Embedded Widely 19
Slide 20: Appendix
Appendix Embedded Wisely, Embedded Widely 20
Slide 21: Company Overview
Company Overview ▪ eMemory is the global leader of embedded non-volatile memory IP Revenue Trend (Unit: NT$ 1,000) 4,000,000 3,500,000 Royalty License/Design Revenue 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 2018 2019
Slide 22: 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 23: Quarterly Number of New Tape-outs
Quarterly Number of New Tape-outs 2018 2019 2020 2021 2022 2023 2024 2025 (Unit: IP Numbers) 200 184 179 181 180 171 154 160 160 149 143150 143 150 147 149 154 134 136 138 137 139 137 140 120 111 107 109 109103 100 97 100 91 89 86 80 60 40 20 0 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q
Slide 24: 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 24
Slide 25: Business Model
Business Model ▪ Recurring royalty is the backbone of our business ▪ 70-75% revenue are from royalty based on wafer production ▪ More adoption = more volume shipment ▪ More advanced node wafers = higher ASP per wafer Revenue Breakdown 1-4 years 1-4 years License Fee Design License Fee Royalty Foundr
Slide 26: Technology Licenses
Technology Licenses Number of Licenses Year 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 H1 License 43 20 26 18 28 32 29 48 41 34 Note: Terms (including number of process platforms and licensing fees) for each technology license are set contractually. Payments are made according to set mileston
Slide 27: Technology Development
Technology Development ▪ Developments by process nodes 12" Fabs Production Development IP Type Process Type 2nm 0 4 OTP, PUF Nanosheet 3nm 2 2 OTP, PUF FF, FFP 4/5nm 6 2 OTP, PUF FF, FF-Auto 6/7nm 4 2 OTP, PUF FF, FF+ 12/16nm 14 13 OTP, PUF, MTP FF, FF+, FFC. FFC+, LPP, DRAM, HV LP/ULP/ULL, HPC/HPC+
Slide 28: Embedded Wisely, Embedded Widely
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 28