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Silicon for Mobile Information

Silicon for Mobile Information. Silicon Motion Technology Corporation. Investor Presentation July 29, 2005. Safe Harbor Statement.

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Silicon for Mobile Information

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  1. Silicon for Mobile Information Silicon Motion Technology Corporation Investor Presentation July 29, 2005

  2. Safe Harbor Statement • This presentation does not constitute or form part of any offer for sale or subscription of or solicitation or invitation of any offer to buy or subscribe for any securities, nor shall it or any part of it form the basis of or be relied on in connection with any contract or commitment whatsoever. Specifically, this presentation does not constitute a “prospectus” within the meaning of the Securities Act of 1933, as amended. • This presentation contains “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These statements include descriptions regarding the intent, belief or current expectations of the Company or its officers with respect to the consolidated results of operations and financial condition of the Company. These statements can be recognized by the use of words such as “expects,” “plans,” “will,” “estimates,” “projects,” or words of similar meaning. Such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, and actual results may differ from those in the forward-looking statements as a result of various factors and assumptions. The Company does not undertake to revise forward-looking statements to reflect future events or circumstances.

  3. Agenda Our Company Our Strategy Our Financials

  4. ü ü ü ü ü Investment Highlights • Provider of universally compatible, high performance, low power portable digital media devices • A leader in the NAND flash controller market • Highly defensible technology backed by patent protection • Strategically located to the Asia-based electronics supply chain • US-styled gross margins and Asian operating expenses One of a Kind Company with Ability to Deliver Superior Performance

  5. Our Company Our Strategy Our Financials

  6. Market position: • A leader in the flash memory controller market Incorporation: • Founded in 1997 Location: • Headquartered in Taiwan, with offices in U.S., Japan, Korea, Germany and China Employees: • 196 employees as of June 30, 2005 1998 2000 2002 2003 2004 Our Company Mission Overview Silicon Motion is a leading fabless semiconductor company that provides universally compatible, high-performance, low-power semiconductor solutions for the multimedia consumer electronics markets Key milestones Financial highlights • Launched CF controllers (1st in Asia) • First million CF controllers shipped in 2-years 20041H05 Net Sales (US$m) 68.9 33.9 Gross margin 41% 45% Operating margin 18% 20% Net margin 12% 20% • 1M CF controllers shipped • Launched MMC and SD controllers with 1M of each shipped • Launched USB 2.0 controllers with: • 7M USB 2.0 controllers shipped • 7M MMC controllers shipped • 20M SD controllers shipped • Wallace Kou, CEO, elected a Director of MMCA and the Chairman of MMCA Compliance committee • Launched MP3 player controllers • NASDAQ IPO on June 30, 2005 2005

  7. Our Team Name Position Experience Wallace Kou President & CEO • Western Digital, VP and Chief Architect of Multimedia Products • 20-years industry experience • M.S. in Electrical & Computer Engineering, UCSB • B.S. in Electrical & Control Engineering, NCTU • Experienced CFO of a US-listed semiconductor company • Research Analyst, Lehman Brothers & Morgan Stanley • MBA, Cornell University • B.S. in Computer Science, MIT Richard Wei CFO • Robust R&D team of 110 engineers • 93 engineers with Masters degrees or PhDs • Engineering managers avg. >10 yrs experience The Team: • Experienced senior management team • 15 VPs and directors avg. 15 yrs experience • Extensive international work experience

  8. Our Products and End Markets Product Mix 2004 Our Controllers and Processors Wide-Ranging End Markets Flash memory controllers Compact Flash (CF) Multimedia Card (MMC) Secure Digital (SD) xD-Picture Universal Serial Bus (USB) 2.0 controllers Product Mix 1H05 USB 2.0 Flash Disk (UFD) Card reader Portable audio SoCs MP3 Controller Multimedia display processors Graphics

  9. A Driver of Growth in Our End-Markets: Digital Cameras Digital Camera Sales No. of Digital Photo Exposures CAGR 23.3% Growth accelerated since 2004 Source: IC Insights • Larger digital camera base • Increased picture resolution • Improved convenience with camera phone Driving Increased Use of Flash Memory Cards

  10. A Driver of Growth in Our End-markets: Mobile Phones Camera Phones MP3 Phones CAGR: 52.5% CAGR: 64.6% Increased functionalities Need for memory Smartphones 3G Phones CAGR: 35.8% CAGR: 52.3%

  11. Flash Memory Card Storage Options Secured Digital (SD) MultiMedia Card (MMC) • 2005-08 CAGR: 30% • Unique encryption feature ideal for applications requiring IP protection • Capacity ranges from 4MB to 2GB • Up to x4 bit, 50MHz • Popular due to small size and low power • 2005-08 CAGR: 65% • Fastest transfer speed - v4.0 available in x1, x4, x8 bit, up to 52MHz • Capacity ranges from 8MB to 2GB • Dual voltage support for v4.0 2005 Shipment Compact Flash (CF) xD-Picture (xD) /SmartMedia (SM) • 2005-08 CAGR: 1% • High capacity of up to 4GB • x8 bit, up to 25MHz • Single voltage • Large form factor suitable for high resolution digital camera • 2005-08 CAGR: 4% • SM has large form factor and low density of up to 128MB • xD will replace SM • xD v1.2 contains a controller as well as memory • xD available with capacity of up to 1GB 219.1 million Note: SD includes miniSD; MMC includes RS-MMC Source: IDC

  12. Our Role in a Flash Memory Card Functions: • Controls data flow between host device and NAND flash • Determines read/write speed ASP Item Flash memory controller NAND Flash memory Functions: • Stores data NAND Flash Memory World-class Flash Memory Controller Functionalities

  13. Our Company Our Strategy Our Financials

  14. Past and Future Growth Drivers Mobile Graphics Flash Controller (CF) Flash Controller (MMC and SD) USB 2.0 Controller Portable Audio SoC Image Processor and Video Codec 01 02 03 04 05 06–07

  15. Flash Memory Card and USB Flash Drive Controllers Flash Memory Card Controller(1) USB 2.0 Flash Drive Controller(1) CAGR: 39.7% CAGR: 38.2% Silicon Motion Market Share Silicon Motion Market Share (1) Assumes 1 controller per USB flash drive; Source: IDC (1) Assumes 1 controller per flash memory card; Source: IDC

  16. Portable Audio SoC and Embedded Graphics Portable Audio SoC Embedded Graphics Portable audio player controller(1) Embedded graphics controller(1) CAGR: 8.2% CAGR: 34.8% Market participants Market participants (1) Includes only car navigation and handheld computers; Assumes 1 controller per unit; Source: Gartner (1) Assumes 1 controller per portable audio player; Source: IDC

  17. Captives Our Competitive Advantage in Flash and USB Flash Drive Controllers Pricing floor forcaptives Learning curve HIGH Cost Structure Necessary Learning Curve LOW HIGH Emerging Asiancompetition LOW Pricing ceiling forAsia competitors

  18. Our Customer Base 2004 Customer Concentration Mobile Storage Products Multimedia SoCs 1H05 Customer Concentration

  19. Our Company Our Strategy Our Financials

  20. Our Sales Trend 2Q05: +7% Sequentially +37% Year-Over-Year

  21. Sales By Product Mobile Storage Products include flash card controllers and USB 2.0 controllers. Multimedia System-on-Chip Products include multimedia display processors and portable audio SoCs.

  22. Unit Shipments Mobile Storage Products include flash card controllers and USB 2.0 controllers. Multimedia System-on-Chip Products include multimedia display processors and portable audio SoCs.

  23. Our Margin Trend

  24. Our Net Income Trend 2Q05: +21% Sequentially +3,734% Year-Over-Year

  25. Our Balance Sheet

  26. Our Financial Ratios

  27. ü ü ü ü ü Investment Highlights • Provider of universally compatible, high performance, low power portable digital media devices • A leader in the NAND flash controller market • Highly defensible technology backed by patent protection • Strategically located to the Asia-based electronics supply chain • US-styled gross margins and Asian operating expenses One of a Kind Company with Ability to Deliver Superior Performance

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