2.1 An Introduction to TSMC
Established in 1987 and headquartered in Hsinchu Science
Park, Taiwan, TSMC pioneered the pure-play foundry businessmodel with an exclusive focus on manufacturing its customers’
products. By choosing not to design, manufacture or market
any semiconductor products under its own name, theCompany ensures that it never competes with its customers.
Based on this founding principle, the key to TSMC’s successhas always been to enable its customers’ success. TSMC’s
foundry business model has led to the rise of the global
fabless industry, and, since its inception, TSMC has been oneof the world’s leading semiconductor foundries. In 2022, theCompany manufactured 12,698 different products using 288
distinct technologies for 532 different customers.
TSMC-made semiconductors serve a global customer basethat is large and diverse entailing a wide range of applications.
These products are used in a variety of end markets including
high performance computing, smartphones, the Internet ofThings (IoT), automotive, and digital consumer electronics.
Such strong diversification helps to smooth fluctuations indemand, which in turn allows TSMC to maintain high levelsof capacity utilization and profitability, and generate healthy
returns for future investment.
The annual capacity of the manufacturing facilities managed
by TSMC and its subsidiaries exceeded 15 million 12-inch
equivalent wafers in 2022. These facilities include four 12-inch
wafer GIGAFAB® fabs, four 8-inch wafer fabs, and one 6-inch
wafer fab – all in Taiwan – as well as one 12-inch wafer fab at
a wholly owned subsidiary, TSMC Nanjing Company Limited,
and two 8-inch wafer fabs at wholly owned subsidiaries,
WaferTech in the United States and TSMC China Company
Limited.
In December 2022, TSMC announced that, in addition
to TSMC Arizona’s first fab, which is scheduled to begin
production of N4 process technology in 2024, the Company
has also started the construction of a second fab in Arizona
to begin production of 3nm process technology in 2026. The
overall investment for these two facilities will be approximately
US$40 billion. When completed, TSMC Arizona’s two fabs will
manufacture over 600,000 wafers per year, with estimatedend-product value of more than US$40 billion. At the sametime, the Company continues to execute its plan for a fab in
Kumamoto, Japan, with production targeted for 2024.

016

TSMC provides customer support, account management
and engineering services through offices in North America,
Europe, Japan, China, and South Korea. At the end of 2022,
the Company and its subsidiaries employed more than 73,000
people worldwide.
The Company is listed on the Taiwan Stock Exchange (TWSE)
under ticker number 2330, and its American Depositary Shares(ADSs) are traded on the New York Stock Exchange (NYSE)
under the symbol TSM.

2.2 Market/Business Summary
2.2.1 TSMC Achievements
In 2022, TSMC maintained its leading position in the foundry
segment of the global semiconductor industry by accounting
for 30% of the worldwide semiconductor market excluding
memory, an increase from 26% in 2021. TSMC’s growth was
mainly driven by the continued expansion of 5G and highperformance computing (HPC)-related applications.
The Company’s strong market position stems in great partfrom its leadership in advanced process technologies. In
2022, 53% of TSMC’s wafer revenue came from advanced
manufacturing processes – defined as geometries of 7nm andsmaller – up from 50% in 2021.
TSMC offers comprehensive technology portfolio and continues
to invest in advanced technologies, specialty technologies,
and advanced packaging and silicon stacking technologies, toprovide customers more added value.
In addition to its leadership in advanced process and specialty
technologies, TSMC offers TSMC 3DFabricTM, a comprehensive
family of 3D silicon stacking and advanced packaging
technologies to complement its process technology offerings.
TSMC 3DFabricTM provides customers greater chip design
flexibility to unleash innovation and is another differentiatingcompetitive advantage for the Company.

2.2.3 Industry Outlook, Opportunities and Threats
Foundry Industry Demand and Supply Outlook
In 2022, TSMC’s solid growth in the foundry segment was
fueled by strong, broad based market demand. Industry
megatrends, such as 5G, artificial intelligence (AI) proliferation,and the accelerating digital transformation, drove increased
demand across all major markets: smartphones, highperformance computing, Internet of Things, and automotive.
However, the electronics supply chain was also carrying highlevels of excess inventory, accumulated over the past two years
due to supply uncertainties. Hence, in the second half of 2022,
the electronics supply chain entered an inventory correction
period, which impacted the foundry segment and TSMC
growth.
Looking ahead, TSMC expects the inventory correction tocontinue into 2023, primarily in the first half of the year.
Furthermore, concerns about inflation and slowing economic
growth will likely have a dampening impact on discretionary
consumer spending, reducing overall demand for electronic
devices. Against these two headwinds, TSMC projects
mid-single-digit decline for the worldwide semiconductor
market excluding memory in 2023. For the longer term,
driven by increasing semiconductor content in most electronic
devices, continued market segment share gains by fablesscompanies, increases in integrated device manufacturer (IDM)
outsourcing, and the expanding use of in-house applicationspecific integrated circuits (ASIC) by systems companies,
TSMC expects foundry segment revenue to outpace the midsingle-digit compound annual growth rate projected for theworldwide semiconductor market excluding memory from2022 through 2027.
As an upstream supplier in the semiconductor supply chain,
the foundry segment is tightly correlated with the market
health of all major platforms including smartphones, HPC, theIoT, automotive, and digital consumer electronics (DCE).
Smartphones
Due to the combined impact of the COVID-19 pandemic,
the Russo-Ukrainian war and generally higher inflation,
smartphone unit shipments declined 11% in 2022, reflecting
a slowdown in the pace of 5G commercialization and thus
prolonging the replacement of 4G. As this situation is likely
to persist, TSMC projects a continued low-single-digit decline
for the smartphone market in 2023. Over the longer term,●

2.2.2 Market Overview
TSMC estimates that the worldwide semiconductor market
excluding memory reached US$492 billion in revenue in
2022, representing a 10% increase from 2021. In the foundry
segment of the semiconductor industry, total revenue rose to
US$130 billion in 2022, a robust growth of 28% over 2021.

however, the inevitable migration to 5G, together withimproved performance, longer battery life, biosensors andmore AI features, will all continue to propel smartphone sales
going forward.
High performance and power efficient IC technologies are
essential requirements among handset manufacturers, andhighly integrated chips and advanced 3D packaging designs
are the preferred solutions to optimize cost, power and form
factor (IC footprint and thickness). The migration to advanced
process technologies will certainly continue spurred by theneed for higher performance chips to run AI applications andvarious complex software computations as well as higher
resolution video. TSMC is an acknowledged leader in process
technology for manufacturing highly integrated chips andadvanced 3D packaging designs and as such is very well
positioned to serve the evolving smartphone market.
High Performance Computing (HPC)The HPC platform includes PCs, tablets, game consoles, servers,
base stations and more. Major HPC unit shipments declined
11% in 2022 due to prolonged high inflation, macro-economic
uncertainty and inventory overbuilt, all resulting in weak
demand on the consumer side. Meanwhile, the server anddata center upgrade cycle remained relatively healthy toaccommodate rapidly growing data traffic and to fulfill the
expanding needs of AI applications and continued 5G basestation deployment.

● 

Although the trend toward accelerated digitalization
stimulated by the COVID-19 pandemic has induced astructural increase in HPC-related semiconductor demand, theeconomic headwinds cited above will increasingly dampen
demand on both consumer and enterprise sides and, as aresult, TSMC projects another year of low teens decline in
HPC unit shipments in 2023. Longer term, an increasingly
intelligent and more connected 5G world will fuel massive
requirements for computation power as well as a greatneed for energy-efficient computing. These require higher
performance and more power-efficient CPUs, GPUs, NPUs, AI
accelerators, and related-ASICs, which will drive the overall HPC
platform towards richer silicon content, more advanced process
technologies and advanced 3D packaging. These trends are allfavorable to TSMC given our technology leadership in theseareas.

017

Internet of Things (IoT)
The IoT platform includes various types of “smart” connected
devices ranging from wearables, health monitors andspeakers to home automation devices, city and manufacturing
automation devices. As the COVID-19 pandemic changed
individual life and work styles and accelerated the digitaltransformation in enterprises, IoT unit shipments grew 18%
in 2022, with smart health devices, smart retail, and smart
manufacturing as the major growth drivers.

●

While these trends remain strong, TSMC believes demandfor consumer-related IoT devices will be somewhat temperedby high inflation and projects unit shipment growth in the
low teens in 2023. Overall, as IoT devices take on more AI
functions, they will require higher performance but lower
power controllers, connectivity ICs and various types of sensors.
TSMC offers the industry's most advanced technologies in theseareas including ultra-low power (ULP) and various specialty
process technologies to help customers meet demand, fulfill
ESG requirements and succeed in the marketplace
Automotive
With generally improving chip availability, worldwide car unit
sales grew 7% in 2022 but was still held back by supply chain
disruptions caused by the Russo-Ukrainian war and sporadic
lockdowns due to the spread of COVID-19 particularly in China.
The ongoing headwinds of high inflation and macro-economic
uncertainty are expected to hold global car unit sales tolow-single-digit growth in 2023 as well.

●

The entire automotive industry is moving toward “greener,
safer and smarter,” which will accelerate the adoption ofelectric vehicles (EVs), advanced driver assistance systems(ADAS) and smart cockpit/infotainment systems, along withnew electrical/electronic (E/E) architecture. All these will leadto increased demand for AP/MCU/ASIC processors, in-car
networking, sensors, and power management ICs, thus
continuously increasing the silicon content per car. TSMC
offers a wide variety of relevant process technologies to enable
customers to deliver competitive products in the automotive
market.
Digital Consumer Electronics (DCE)
Logistical disruptions such as port congestion led to prolonged
lead times in the TV supply chain causing major electronics
retailers to over-order and create excess inventory in 2022. At
the same time, inflation, rate hikes and the China lockdown
due to its zero-COVID policy weakened demand for TVs,
set-top boxes (STB) and other consumer products. As a result,
the total DCE market fell by 11% in 2022.

●

018

While some high-end areas such as large screen, 120Hz/144Hz
high frame rate TV, voice AI control and WiFi 6 connectivity willcontinue to show good growth, fears of economic recession
may stifle overall recovery. As a result, TSMC forecasts a
low-single-digit decline in global DCE unit shipments in 2023.
Regardless of the timing of the recovery, TSMC advanced
technologies will continue to enable DCE customers to createand differentiate their innovative products.
Supply Chain
The electronics industry features a long and complex supply
chain, the elements of which are correlated and highlyinterdependent. At the upstream manufacturing level, IC
vendors need to have sufficient, flexible supply deliveries tohandle fluctuating demand dynamics. Foundry vendors play
an important role in maintaining the health and effectivenessof the supply chain. As a leader in the foundry segment, TSMC
provides advanced technologies and large-scale capacity
to complement and support the innovations created in thedownstream chain.
2.2.4 TSMC Position, Differentiation and Strategy
Position
TSMC is a global semiconductor foundry leader in advanced,
specialty and advanced packaging technologies. In 2022, TSMC
accounted for 30% of the worldwide semiconductor market
excluding memory, an increase from 26% in 2021. Net revenue
by geography, calculated mainly on the country in whichcustomers are headquartered, was: 68% from North America;
11% from the Asia Pacific region, excluding China and Japan;
11% from China; 5% from Europe, the Middle East and Africa;and 5% from Japan. Net revenue by platform was: 41% fromhigh performance computing; 39% from smartphones; 9%from the Internet of Things; and 5% from automotive. In
addition, 3% came from digital consumer electronics, whileothers accounted for the remaining 3%.
Differentiation
TSMC’s leadership position is based on three defining
competitive strengths and a business strategy rooted in the
Company’s heritage. The Company distinguishes itself from thecompetition through its technology leadership, manufacturing
excellence and customer trust.
As a technology leader, TSMC is consistently first among
dedicated foundries to provide next-generation, leading-edge
technologies. The Company also maintains a leadership
position in more mature technologies by applying the lessons
learned in developing leading-edge technologies to enrich its

specialty technologies. Beyond process technology, TSMC hasestablished frontend and backend integration capabilities tocreate the optimum power/performance/area “sweet spot” tohelp customers achieve faster time-to-production.
Well known for industry-leading manufacturing capabilities,
TSMC extends its leadership through its Open Innovation
Platform® (OIP) and Grand Alliance initiatives. The OIP initiative
accelerates the pace of innovation in the semiconductor
design community and among the Company’s ecosystem
partners, as well as in its own IP, design implementation anddesign for manufacturing capabilities, process technology
and backend services. A key element is a set of ecosysteminterfaces and collaborative components initiated andsupported by the Company that more efficiently empower
innovation throughout the supply chain and drive the creationand sharing of new revenue and profits. The TSMC Grand
Alliance is one of the most powerful forces for innovation in
the semiconductor industry, bringing together customers,
electronic design automation (EDA) partners and IP partners,
along with the partners in the new 3DFabric Alliance, officiallyannounced in October 2022, and key equipment and material
suppliers – all to achieve new, higher levels of collaboration.
Through this collaboration, the Grand Alliance’s objective is tohelp customers, alliance members and TSMC win business andimprove competitiveness.
The foundation for customer trust is a commitment TSMC
made when it opened for business in 1987 to never competewith its customers. In keeping this commitment, the Company
has never designed, manufactured or marketed any integrated
circuits under its own name, but instead has focused all of its
efforts and resources on becoming the trusted foundry for its
customers.
Strategy
TSMC is confident that its competitive advantages will enable itto prosper from the foundry segment’s many attractive growth
opportunities. For the five major markets, namely smartphones,
high performance computing, the Internet of Things,
automotive, and digital consumer electronics, and in responseto the fact that the focus of customer demand is shifting fromprocess-technology-centric to product-application-centric,
the Company has constructed five corresponding technology
platforms to provide customers with comprehensive andcompetitive logic process technologies, specialty technologies,
IPs and packaging and testing technologies to shorten
customers’ time to design and time to market. These fiveplatforms are:High Performance Computing (HPC): Driven by data explosion
and application innovation, HPC has become one of the key
growth drivers for TSMC’s business. TSMC provides customers,
including both fabless IC design companies and systemcompanies, with leading-edge process technologies such as
3nm FinFET (N3), 4nm FinFET (N4), 5nm FinFET (N5), 6nm
FinFET (N6), 7nm FinFET (N7), and 12nm/16nm FinFET, as wellas comprehensive IPs including high-speed interconnect IPs,
to meet customers’ product requirements for transferring andprocessing vast amounts of data anywhere and anytime. In
particular, TSMC introduced its first HPC focused technology,
N4X, representing the ultimate performance and maximum
clock frequencies in TSMC’s 5-nanometer family. Based on
advanced process nodes, a variety of HPC products have beenlaunched, such as personal computer central processing units(CPUs), graphics processor units (GPUs), field programmablegate arrays (FPGAs), server processors, accelerators andhigh-speed networking chips, etc. These products can beused in current and future 5G/6G infrastructures, AI, cloud,and enterprise data centers. The Company also offers multiple
advanced TSMC 3DFabricTM packaging and silicon stacking
technologies, such as CoWoS®, InFO, and TSMC-SoIC®, toenable homogeneous and heterogeneous chip integration
to meet customers’ requirements for high performance, highcompute density and high energy efficiency, low latency andhigh integration. TSMC will continue to optimize its highperformance computing platform and strengthen collaboration
with customers to help them capture market growth in HPC
markets.
Smartphone: For customers’ premium product applications,
TSMC offers leading logic process technologies such as
N3, N4 and N5, as well as comprehensive IPs to further
enhance chip performance, reduce power consumption, anddecrease chip size. For mainstream product applications, theCompany offers a broad range of logic process technologies,
including N6, 7nm FinFET Plus (N7+), N7, 12nm FinFET
compact plus (12FFC+), 12nm FinFET compact (12FFC),
16nm FinFET compact plus (16FFC+), 16nm FinFET compact(16FFC), 28nm high performance compact (28HPC), 28nm
high performance mobile compact plus (28HPC+), and22nm ultra-low power (22ULP) logic process technologies,
in addition to comprehensive IPs, to satisfy customer needs
for high performance and low power chips. Furthermore, forpremium and mainstream product applications, the Company
offers highly competitive, leading-edge specialty technologies
to deliver specialty companion chips for customers’ logic
application processors, including RF, embedded flash memory,
emerging memory technologies, power management019

ICs, sensors, and display chips, as well as advanced TSMC
3DFabricTM packaging technologies, such as industry-leading
Integrated Fan-Out (InFO) technology.
Internet of Things: TSMC provides leading, comprehensive
and highly integrated ultra-low power (ULP) technology
platforms to enable innovation in artificial intelligence ofthings (AIoT) applications. The Company’s offerings include
the new FinFET-based 12-nanometer technology – N12eTM
featuring energy efficiency with high performance that
results in more computing power and AI inferencing, 22nm
ultra-low leakage (ULL), 28nm ULP, 40nm ULP, and 55nm ULP
technologies, which have been widely adopted by various edge
AI system-on-a-chip (SoC), and battery-powered applications.
TSMC has also extended its low operating voltage (Vdd)
offerings, providing simulation program with integrated circuitemphasis (SPICE) models with a wide-range of operating
voltages for extreme low-power applications. In addition, theCompany offers competitive and comprehensive specialty
technologies in RF, enhanced analog devices, embedded
flash memory, emerging memory, sensors and display chips,
power management ICs, as well as multiple TSMC 3DFabricTM
advanced packaging technologies, including InFO technology
to support the fast-growing demand in AIoT edge computing
and wireless connectivity.
Automotive: TSMC offers a comprehensive spectrum oftechnologies and services to support the automotive industry’s
three megatrends: safer, smarter and greener. The Company
is also an industry leader in providing a robust automotive IP
ecosystem, which covers 5nm FinFET, 7nm FinFET, and 16nm
FinFET technologies, for advanced driver-assistance systems(ADAS), advanced in-vehicle infotainment (IVI), as well as zonal
controllers for new electrical/electronic (E/E) architecture for the
automotive industry. In addition to its advanced logic platform,
TSMC offers a broad array of competitive specialty technologies
including 28nm embedded flash memory, 28nm, 22nm, and16nm mmWave RF, high sensitivity CMOS Image/LiDAR (lightdetection and ranging) sensors, and power management ICs.
The emerging technology of magnetoresistive random accessmemory (MRAM) has demonstrated automotive Grade-1
capability on 22nm and is under development with good
progress on 16nm to meet automotive Grade-1 requirements.
All these technologies are applied to TSMC’s automotive
process qualification standards based on AEC-Q100 standards
or meeting customers’ technology specifications.

smart digital TV (DTV), set-top box (STB), AI-embedded smart
camera and associated wireless local area network (WLAN),
power management ICs (PMIC), timing controller (T-CON) andso on. The Company’s leading 7nm FinFET (N7), 16FFC/12FFC,
22ULP/22ULL and 28HPC+ technologies have been widelyadopted by leading global makers of 8K/4K DTV, 4K streaming
STB/over-the-top (OTT), digital single-lens reflex (DSLR) devices,and so on. TSMC will continue to make these technologies
more cost competitive through die size shrink for customers’
digital intensive chip designs and to drive lower power
consumption for more cost-effective packaging.
TSMC continually strengthens its core competitiveness anddeploys both short- and long-term plans for technology andbusiness development and assists customers in taking on thechallenges of short product cycles and intense competition in
the electronic products market to meet return on investment(ROI) and growth objectives.
Short-Term Semiconductor Business Development Plan
1. S ubstantially ramp up the business and sustain advanced
technology market segment share by continually increasing
capacity and R&D investments.
2. M
 aintain mainstream technology market segment share by
expanding business to new customers and market segments.
3. C ontinue to enhance the competitive advantages of theCompany’s technology platforms in HPC, smartphones,
IoT, automotive, and digital consumer electronics toexpand TSMC’s dedicated foundry services in these productapplications.
4. F urther expand TSMC’s business and service infrastructure
into emerging and developing markets.

2.3 Organization
2.3.1 Organization Chart
As of 02/28/2023

Shareholders’ Meeting
Audit and Risk
Committee (Note)

Compensation andPeople Development
Committee (Note)

Nominating, Corporate
Governance andSustainability
Committee (Note)

Board of Directors
ChairmanVice Chairman

CEO Office●Long-Term Semiconductor Business Development Plan
1. C ontinue developing leading-edge technologies at a
predictable pace to elevate energy-efficient compute.
2. B roaden specialty business contributions by further
developing derivative technologies.
3. P rovide more integrated services, covering system-level
integration design, design technology definition, design tool
preparation, wafer processing, TSMC 3DFabricTM advanced
packaging and silicon stacking technologies, and testing
services, and so on, all of which deliver more value tocustomers through optimized solutions.
●

Corporate
Governance
OfficerInternal Audit

ESG

Operations
Research and Development
Pathfinding for System Integration
Europe and Asia Sales
North America
Business Development
Corporate Planning Organization
Corporate Strategy Office
Quality and Reliability
Information Technology /Materials Management and Risk Management
Finance
Legal
Human Resources
Note: On February 14, 2023, the Board approved the renaming of “Audit Committee” to “Audit and Risk Committee”, and the renaming of “Compensation Committee” to “Compensation and People Development
Committee”, and the establishment of “Nominating, Corporate Governance and Sustainability Committee”.

Digital Consumer Electronics (DCE): TSMC provides
customers with leading, comprehensive technologies to deliver
AI-enabled smart devices for DCE applications, including

020

021

2.3.2 Major Corporate Functions
Operations● Includes managing all fabs in Taiwan and overseas; manufacturing technology development; product engineering, advanced
packaging technology development, production and service integration
Research and Development
Advanced technology development, exploratory research, and design and technology platform development, specialty technology
development● 

Pathfinding for System Integration
System Integration Technology Pathfinding● 

Europe and Asia Sales
Customer business, technical marketing, and regional market development in Europe and Asia (China, Japan , South Korea andTaiwan); immediate and comprehensive technical support, as well as customer service including customers in North America.

● 

North America
Sales and market development, field technical solutions and business operations for customers in North America● 

Business Development
Identification of market trends and new applications that shape the technology roadmap and portfolios for the Company; also
provides key support in strengthening customer relationships along with Company branding management

Risk Management● Implementation of Enterprise Risk Management, Business Continuity Management and Crisis Management
Corporate Environmental, Safety and Health
Environmental protection, safety and health management and strategy formulation● 

Information Technology / Corporate Information Security
Integration of the Company’s technology and business IT systems; infrastructure development; communication services andassurance of IT security and service quality; implementing big data and machine learning to improve the Company’s productivity
and accelerate R&D delivery● 

Materials Management
Procurement, warehousing, import and export, and logistics support● 

Finance and Spokesperson
Corporate finance, accounting and corporate communications; with the head of the organization also serving as the Company
Spokesperson

● 

Legal
Corporate legal affairs including regulatory compliance, commercial transactions, patents and management of other intellectual
properties, and litigation

● 

● 

Corporate Planning Organization
Planning for operational resources, as well as for production and demand; integration of business processes, corporate pricing,market analysis and forecasting● 

Corporate Strategy Office
Corporate strategy formation and implementation● 

Quality and Reliability
Assurance of the quality and reliability of the Company’s products by resolving issues at the developmental stage; improving andmanaging product quality at the production stage; providing solutions to customers’ quality related issues; and providing services
for advanced materials and failure analysis

Human Resources
Personnel management, organizational development, physical security management, employee services and wellness management● Internal Audit
Inspection and review of the Company’s internal control system, its adequacy in design and effectiveness in operation, withindependent risk assessment to ensure compliance with the Company’s policies and procedures as well as with external regulations

● 

ESG
Identify ESG issues in relation to the Company’s operations and stakeholders’ concern, frame sustainability strategies, goals, actionplans and track implementation results, continuing to create sustainability value

● 

● 

022

023

2.4 Board Members
2.4.1 Information Regarding Board Members
Title/Name
ChairmanMark Liu

Gender
Age
Male
66-70

As of 02/28/2023

Nationality orPlace ofRegistration

Date Elected

U.S.

07/26/2021

Term Expires
07/25/2024

Date FirstElected06/08/2017

Shares Held When Elected

Shares Currently Held by
Spouse & Minors

Shares Currently Held

Shares (Note 1)%

Shares (Note 1)%

Shares (Note 1)%

12,913,114

0.05%

12,916,216

0.05%

-

-

Selected Education and Professional Qualification
Past Positions
Current Positions at Non-profit Organizations
Selected Education and Professional Qualification
Bachelor Degree in Electrical Engineering, National Taiwan University
Master Degree and Ph.D. in Electrical Engineering & Computer Science, University of California, Berkeley, U.S.
Laureate, Industrial Technology Research Institute (ITRI)

Selected Current Positions at TSMC andOther Companies
None

Past Positions
President, Worldwide Semiconductor Manufacturing Corp.
Senior Vice President, Advanced Technology Business, TSMC
Senior Vice President, Operations, TSMC
Executive Vice President and Co-Chief Operating Officer, TSMC
President and Co-CEO, TSMC
Current Positions at Non-profit Organizations
Chairman, Taiwan Semiconductor Industry Association (TSIA) (Note 2)Vice Chairman
C.C. Wei

Male
66-70

R.O.C.

07/26/2021

07/25/2024

06/08/2017

7,179,207

0.03%

6,346,207

0.02%

700,261

0.00%

Selected Education and Professional Qualification
Bachelor and Master Degrees in Electrical Engineering, National Chiao Tung University
Ph.D. in Electrical Engineering, Yale University, U.S.
Laureate, Industrial Technology Research Institute (ITRI)

CEO, TSMC

Past Positions
Senior Vice President, Technology, Chartered Semiconductor Manufacturing Ltd., Singapore
Senior Vice President, Mainstream Technology Business, TSMC
Senior Vice President, Business Development, TSMC
Executive Vice President and Co-Chief Operating Officer, TSMC
President and Co-CEO, TSMC
Chairman, Taiwan Semiconductor Industry Association (TSIA)
Director
F.C. Tseng

Male
76-80

R.O.C.

07/26/2021

07/25/2024

05/13/1997

34,472,675

0.13%

29,472,675

0.11%

5,132,855

0.02%

Selected Education and Professional Qualification
Bachelor Degree in Electrical Engineering, National Cheng Kung University
Master Degree in Electrical Engineering, National Chiao Tung University
Ph.D. in Electrical Engineering, National Cheng Kung University
Honorary Ph.D., National Chiao Tung University
Honorary Ph.D., National Tsing Hua University

Chairman of:- TSMC China Company Ltd. (a non-public company)- Global UniChip Corp.
Vice Chairman, Vanguard International Semiconductor
Corp.

Past Positions
President, Vanguard International Semiconductor Corp.
President, TSMC
Deputy CEO, TSMC
Vice Chairman, TSMC
Independent Director, Chairman of Audit Committee & Compensation Committee member, Acer Inc.
Director, National Culture and Arts Foundation, R.O.C.
Current Positions at Non-profit Organizations
Chairman, TSMC Education and Culture Foundation
Director, Cloud Gate Culture and Arts Foundation
Director, Zu-Ming Medical Foundation
Director
National Development Fund, Executive Yuan
(Note 3)
Representative:
Ming-Hsin Kung

07/26/2021

Male
56-60

R.O.C.

07/25/2024

12/10/1986

1,653,709,980

6.38%

1,653,709,980

6.38%

-

-

07/24/2020(Note 4)779
(Note 4)

0.00%

779

0.00%

-

-

Selected Education and Professional Qualification
B.A., Statistics, Fu Jen Catholic University
M.A., Economics, National Taiwan University
Ph.D., Economics, National Chung Hsing University

Director, Taiwania Capital Management Corp. (anon-public company) (Representative of the
National Development Fund)

Past Positions
Adjunct Assistant Professor, Tamkang University
Deputy Executive Secretary, Industrial Development Advisory Council, Ministry of Economic Affairs
Research Fellow, Science and Technology Advisory Group, Executive Yuan
Research Fellow, Taiwan Institute of Economic Research
Vice President, Taiwan Institute of Economic Research
Advisory Committee Member, Mainland Affairs Council, Executive Yuan
Consultant, Ministry of Economic Affairs
Member, National Stabilization Fund Management Committee, Executive Yuan
Deputy Minister, National Development Council & concurrently Executive Secretary, National Development
Fund, Executive Yuan
Deputy Minister, Ministry of Economic Affairs
Minister without Portfolio, Executive Yuan
Current Positions at Non-profit Organizations
Minister without Portfolio, Executive Yuan & concurrently Minister, National Development Council
The Convener of the National Development Fund(Continued)

024

025

Title/Name
Independent Director
Sir Peter L. Bonfield

Gender
Age
Male
76-80

Nationality orPlace ofRegistration

Date ElectedUK

07/26/2021

Term Expires
07/25/2024

Date FirstElected05/07/2002

Shares Held When Elected

Shares Currently Held by
Spouse & Minors

Shares Currently Held

Shares (Note 1)%

Shares (Note 1)%

Shares (Note 1)

%

-

-

-

-

-

-

Selected Education and Professional Qualification
Past Positions
Current Positions at Non-profit Organizations
Selected Education and Professional Qualification
Bachelor and Honours Degrees in Engineering, Loughborough University
Fellow of the Royal Academy of Engineering
Knighted, 1996
Awarded Commander of the Order of the British Empire (CBE), 1989
Awarded the Order of the Lion of FinlandAwarded the Gold Medal from the Institute of Management
Awarded the Mountbatten Medal from the National Electronics Council
Awarded the FT ODX Outstanding Director Award, 2019
Past Positions
Chairman and CEO, ICL Plc, UK
CEO and Chairman of the Executive Committee, British Telecommunications Plc
Vice President, the British Quality Foundation
Director, Mentor Graphics Corp., U.S.
Director, Sony Corp., Japan
Director, L.M. Ericsson, Sweden
Chairman, GlobalLogic Inc., U.S.
Senior Advisor, Hampton Group, London
Chair of Council and Senior Pro-Chancellor, Loughborough University, UK
Board Member, EastWest Institute, New York

Independent Director
Kok-Choo Chen

Female71-75

R.O.C.

07/26/2021

07/25/2024

06/09/2011

-

-

-

-

-

-

Selected Education and Professional Qualification
Inns of Court School of Law, England
Barrister-at-law, England
Advocate & Solicitor, Singapore
Attorney-at-law, California, U.S.

Selected Current Positions at TSMC andOther Companies
Chairman, NXP Semiconductors N.V., the Netherlands
Non-Executive Director of:- Imagination Technologies Group Ltd., UK (a nonpublic company)- Darktrace Plc, UK
Advisory Board Member, The Longreach Group Ltd.,HK (a non-public company)
Senior Advisor, Alix Partners LLP, London
Board Mentor, Chairman Mentors International (CMi)Ltd., London (a non-public company)

None

Professional Experience
Lawyer, Tan, Rajah & Cheah, Singapore (1969-1970)
Lawyer, Sullivan & Cromwell, New York, U.S. (1971-1974)
Lawyer, Heller, Erhman, White & McAuliffe, San Francisco, California, U.S. (1974-1975)
Partner, Ding & Ding Law Offices, R.O.C. (1975-1988)
Partner, Chen & Associates Law Offices, R.O.C. (1988-1992)
Vice President, Echo Publishing, R.O.C. (1992-1995)
President, National Culture and Arts Foundation, R.O.C. (1995-1997)
Senior Vice-President and General Counsel, TSMC (1997-2001)
Founder and Executive Director, Taipei Story House (2003-2015)
Advisor, Executive Yuan, R.O.C. (2009-2016)
Director, National Culture and Arts Foundation, R.O.C. (2011-2016)
Chairman, National Performing Arts Center (2014-2017)
Founder and Executive Director, Museum207, Taipei (2017-2022)
Academic Experience
Lecturer, Nanyang University, Singapore (1970-1971)
Associate Professor, Soochow University, (1981-1998)
Chair Professor, National Tsing Hua University (1999-2002)
Professor, National Chengchi University (2001-2004)
Professor, Soochow University (2001-2008)
Current Positions at Non-profit Organizations
Director, Republic of China Female Cancer Foundation
Founder and Chairman, Artspace K, Hong Kong (2020-)
Independent Director
Michael R. Splinter

Male
71-75

U.S.

07/26/2021

07/25/2024

06/09/2015

-

-

-

-

-

-

Selected Education and Professional Qualification
Bachelor and Master Degrees in Electrical Engineering, University of Wisconsin-Madison
Honorary Ph. D in Engineering, University of Wisconsin-Madison
Awarded 2013 Robert N. Noyce Award by Semiconductor Industry Association
Recognized as NACD (National Association of Corporate Directors) Directorship CertifiedTM, 2020
Member of the National Academy of Engineering, 2017
Past Positions
Executive Vice President of Technology and Manufacturing group, Intel Corp.
Executive Vice President of Sales and Marketing, Intel Corp.
CEO, Applied Materials, Inc.
Chairman, Applied Materials, Inc.
Director, The NASDAQ OMX Group, Inc.
Director, Silicon Valley Leadership Group
Director, Semiconductor Equipment and Materials International (SEMI)
Director, Meyer Burger Technology Ltd., Switzerland
Director, University of Wisconsin Foundation, U.S.
Chairman of the Board, NASDAQ, Inc.
Chairman of the Board, US-Taiwan Business Council

Lead Independent Director, NASDAQ, Inc.
Independent Director and Compensation Committee
Chair, Gogoro Inc., Cayman Islands
Director of:- Pica8, Inc., U.S. (a non-public company)- Tigo Energy, Inc., U.S. (a non-public company)- Kioxia Holdings Corp., Japan (a non-public company)
General Partner of:- WISC Partners LP, U.S.
- MRS Business and Technology Advisors, U.S. (a nonpublic company)

Current Positions at Non-profit Organizations
Chair of Industrial Advisory Committee, National Institute of Standards and Technology, Department ofCommerce, U.S.
(Continued)

026

027

Title/Name
Independent Director
Moshe N. Gavrielov

Gender
Age
Male
66-70

Nationality orPlace ofRegistration

Date Elected

U.S.

07/26/2021

Term Expires
07/25/2024

Date FirstElectedShares Held When Elected

Shares Currently Held by
Spouse & Minors

Shares Currently Held

Shares (Note 1)%

Shares (Note 1)%

Shares (Note 1)

%

-

-

-

-

-

-

06/05/2019

Selected Education and Professional Qualification
Past Positions
Current Positions at Non-profit Organizations

Selected Current Positions at TSMC andOther Companies

Selected Education and Professional Qualification
Bachelor Degree in Electrical Engineering, Technion - Israel Institute of Technology
Master Degree in Computer Science, Technion - Israel Institute of Technology

Chairman of:- SiMa Technologies, Inc., U.S. (a non-public company)- Foretellix, Ltd., Israel (a non-public company)

Past Positions
In a variety of engineering and engineering management positions, National Semiconductor Corp. and Digital
Equipment Corp., U.S.
In a variety of executive management positions, LSI Logic Corp. for nearly 10 years, U.S.
CEO, Verisity, Ltd., U.S.
Executive Vice President and General Manager of the Verification Division, Cadence Design Systems, Inc., U.S.
President and CEO, Xilinx, Inc., U.S.
Director, Xilinx, Inc., U.S.
Executive Chairman, Wind River Systems, Inc., U.S. (2018-2022)
Current Positions at Non-profit Organizations
Director, San Jose Institute of Contemporary Art, U.S.
Independent Director
Yancey Hai

Male
71-75

R.O.C.
U.S.

07/26/2021

07/25/2024

06/09/2020

-

-

-

-

-

-

Selected Education and Professional Qualification
M.A., International Business Management, University of Texas at Dallas
Laureate, Industrial Technology Research Institute (ITRI)
Past Positions
Country Manager, GE Capital Taiwan
Vice Chairman and CEO, Delta Electronics, Inc.
Chair, Strategic Steering Committee, Delta (2012-2021)
Current Positions at Non-profit Organizations
Senior Strategy Consultant, Cloud Computing & IoT Association in Taiwan
Director, Taiwan Business Council for Sustainable Development
Director, Delta Electronic Foundation
Director, Felix Chang Foundation
Director and Finance Committee Member, Chiang Ching-Kuo Foundation for International Scholarly Exchange
Chairman, Taiwan Climate Partnership

Independent Director
L. Rafael Reif

Male
71-75

U.S.

07/26/2021

07/25/2024

07/26/2021

-

-

-

-

-

-

Selected Education and Professional Qualification
Ingeniero Eléctrico Degree, Universidad de Carabobo, Valencia, Venezuela
Master Degree and Ph.D. in Electrical Engineering, Stanford University
Honorary Doctor of Laws degree, The Chinese University of Hong Kong (2015)
Honorary Doctorates from Tsinghua University (2016), the Technion (2017), Arizona State University (2018)
and University of Miami (2022)
Member of Tau Beta Pi, the Engineering Honor Society
Member of the Electrochemical Society
Fellow of the Institute of Electrical and Electronics Engineers (IEEE)
Member of the American Academy of Arts and Sciences, the National Academy of Engineering and theChinese Academy of Engineering
Fellow of the National Academy of Inventors
Awarded with United States Presidential Young Investigator Award (1984)
Awarded with the Semiconductor Research Corporation’s Aristotle Award (2000)
Awarded the Tribeca Disruptive Innovation Award (2012)
Awarded the Frank E. Taplin, Jr. Public Intellectual Award by the Woodrow Wilson National FellowshipFoundation (2015)
Awarded with Engineer of the Year from Great Minds in STEM (2018)
Awarded the Simon Ramo Founders Award by the U.S. National Academy of Engineering (2022)
Inventor or co-inventor on 13 patents, editor or Co-editor of 5 books, and supervisor to 38 doctoral theses

Chairman, Delta Electronics, Inc. (Delta), 2012Chair of ESG Committee, Delta
Director of Delta’s subsidiaries:- Delta Electronics (Shanghai) Co., Ltd. (a non-publiccompany)- Delta Networks, Inc. (a non-public company)- Delta Electronics Capital Company (a non-publiccompany)- Cyntec Co., Ltd. (a non-public company)
Independent Director, Audit Committee member, ESG
Committee member and Convener of Remuneration
Committee, USI Corporation
Director and Commissioner of ESG & Net Zero
Committee, CTCI Corporation

Co-Chair of Growth Technical Advisory Board, Applied
Materials, Inc.

Past Positions
Assistant Professor, Universidad Simón Bolívar, Caracas, Venezuela
Visiting Assistant Professor of Electrical Engineering, Stanford University
Faculty, Massachusetts Institute of Technology (MIT), since 1980
IBM Faculty Fellowship, MIT Center for Materials Science and Engineering
Analog Devices Career Development Professorship, MIT Electrical Engineering
Fariborz Maseeh Professor of Emerging Technology, MIT (2004-2012)
Director of Microsystems Technology Laboratories, MIT
Associate Department Head of Electrical Engineering, MIT
Head of the Department of Electrical Engineering and Computer Science (EECS), MIT
Provost, MIT
Board Director, Schlumberger Limited
President, MIT (2012-2022)
Current Positions at Non-profit Organizations
President Emeritus, MIT, since 2023
Member of Board of Trustees, Carnegie Endowment for International Peace
Director, Council on Foreign Relations, U.S.
Remarks:
1. No member of the Board of Directors held TSMC shares by nominee arrangement.
2. Managers or Directors who are spouses or within second-degree relative of consanguinity to the directors: None.
3. Chairman and President (or someone with an equivalent job responsibility, i.e. the highest ranking manager of the company) are not (1) the same person, (2) in a marital relationship with each other, or (3) within
one degree of consanguinity.
Note 1: Does not include shares held in the form of ADSs.
Note 2: Chairman Dr. Mark Liu retired from his current position as the Chairman of Taiwan Semiconductor Industry Association (TSIA) on March 30, 2023.

Note 3: Major Shareholders of the Institutional Shareholder

Institutional Shareholder

Major Shareholders (Top 10 Shareholders) of the Institutional Shareholder

National Development Fund, Executive Yuan

Not Applicable

Note 4: Mr. Ming-Hsin Kung was appointed as the representative of National Development Fund on July 24, 2020.

028

029

2.4.2 Remuneration Paid to Directors and Independent Directors (Note 1)
Unit: NT$

Compensation Earned by a Director Who is an Employee of TSMC orof TSMC’s Consolidated Entities

Director’s Remuneration

Title/Name

ChairmanMark Liu(A+B+C+D) as a % of
Net Income

Base Compensation (A)Severance Pay andPensions (B)(Note 2)Compensation to
Directors (C)Allowances (D) (Note 3)

From All
From TSMC Consolidated
Entities

From All
From TSMC Consolidated
Entities

From All
From TSMC Consolidated
Entities

From All
From TSMC Consolidated
Entities

Base Compensation,
Bonuses, and Allowances (E)(Note 3)

From All
From TSMC Consolidated
Entities

Severance Pay andPensions (F) (Note 2)(A+B+C+D+E+F+G) as a %of Net Income (Note 4)

Profit Sharing (G)From TSMC

From All
Consolidated
Entities

From TSMC

From All
Consolidated
Entities

From TSMC

From All Consolidated Entities

Stock (Fair
Cash Market
Value)

Stock (Fair
Cash Market
Value)

From TSMC

From All
Consolidated
Entities

Compensation Paid
to Directors from
Non-consolidated
Affiliates or Parent
Company

50,905,192

50,905,192

214,206

214,206

579,536,780

579,536,780

1,418,210

1,418,210

0.0622%0.0622%

-

-

-

-

-

-

-

-

0.0622%0.0622%-Vice Chairman
C.C. Wei

-

-

-

-

-

-

-

-

-

-

353,404,118

353,404,118

214,206

214,206

289,768,390-

289,768,390-

0.0633%0.0633%-

Director
F.C. Tseng

-

-

-

-

10,560,000

10,560,000

1,324,440

1,324,440

0.0012%0.0012%

-

-

-

-

-

-

-

-

0.0012%0.0012%

16,904,548

Director
National Development Fund, Executive
Yuan
Representative: Ming-Hsin Kung

-

-

-

-

10,560,000

10,560,000--

0.0010%0.0010%

-

-

-

-

-

-

-

-

0.0010%0.0010%-Independent Director
Sir Peter L. Bonfield

-

-

-

-

15,767,972

15,767,972--

0.0016%0.0016%

-

-

-

-

-

-

-

-

0.0016%0.0016%-

Independent Director
Kok-Choo Chen

-

-

-

-

13,200,000

13,200,000--

0.0013%0.0013%

-

-

-

-

-

-

-

-

0.0013%0.0013%-

Independent Director
Michael R. Splinter

-

-

-

-

15,767,972

15,767,972--

0.0016%0.0016%

-

-

-

-

-

-

-

-

0.0016%0.0016%-

Independent Director
Moshe N. Gavrielov

-

-

-

-

15,767,972

15,767,972--

0.0016%0.0016%

-

-

-

-

-

-

-

-

0.0016%0.0016%-

Independent Director
Yancey Hai

-

-

-

-

13,200,000

13,200,000--

0.0013%0.0013%

-

-

-

-

-

-

-

-

0.0013%0.0013%-

Independent Director
L. Rafael Reif

-

-

-

-

15,767,972

15,767,972--

0.0016%0.0016%

-

-

-

-

-

-

-

-

0.0016%0.0016%-50,905,192

50,905,192

214,206

214,206

690,128,668

690,128,668

2,742,650

2,742,650

0.0732%0.0732%353,404,118

353,404,118

214,206

214,206

289,768,390-

289,768,390-

0.1365%0.1365%

16,904,548

Total*Other than disclosure in the above table, Directors remunerations earned by providing services (e.g. providing consulting services as a non-employee of parent company/all consolidated entities/non-consolidated
affiliates) to TSMC and all consolidated entities in the 2022 financial statements: Dr. F.C. Tseng for NT$17,750,609.
Note 1: D irectors and Independent Directors’ remuneration policies, procedures, standards and structure, as well as the linkage to responsibilities, risks and time spent:● According to TSMC’s Articles of Incorporation, the Board of Directors is authorized to determine the salary for the Chairman, Vice Chairman and Directors, taking into account the extent and value of theservices provided for the management of the Corporation and the standards of the industry within the R.O.C. and overseas.
● The Articles of Incorporation also provide that the compensation to directors shall be no more than 0.3% of annual profits and directors who also serve as executive officers of TSMC are not entitled toreceive compensation to directors. According to TSMC’s Compensation Committee Charter, the distribution of compensation to directors shall be made in accordance with TSMC’s “Rules for Distribution ofCompensation to Directors” based on the following principles: (1) directors who also serve as executive officers of the Company are not entitled to receive compensation; (2) the compensation for independent
directors may be higher than the other directors, as all independent directors also serve as members of the Audit Committee and the Compensation Committee and thus participate in the discussions as well
as resolutions of related committee meetings in accordance with the charter of each committee; and (3) the compensation for overseas independent directors may be higher than domestic independent
directors, as they require additional time to attend quarterly meetings in Taiwan.
Note 2: Pensions funded according to applicable law.
Note 3: T he above-mentioned figures include expenses for Company cars and related reimbursements, but do not include compensation paid to Company drivers (totaled NT$5,205,050).
Note 4: T otal remuneration paid to the directors from TSMC and from all consolidated entities in 2021, including their employee compensation, both accounted for 0.1521% of 2021 net income.

030

031

2.5 Management Team2.5.1 Information Regarding Management Team
Title
Name
(Note1)

GenderNationality

As of 02/28/2023

On-board Date
(Note 2)

Shares Held by Spouse& Minors

Shares Held

Shares Held in the Nameof Others

Shares(Note 3)%

Shares(Note 3)%

Shares(Note 3)%

Education and Selected Past Positions

Selected Current Positions at Other
Companies

Managers Who are Spouses or within Second-degree
Relative of Consanguinity to Each Other (Note 4)
Title

Name

Relation

Chief Executive Officer
C.C. Wei

Male

R.O.C.

02/01/1998

6,346,207

0.02%

700,261

0.00%

-

-

Ph.D., Electrical Engineering, Yale University, U.S.
President and Co-Chief Executive Officer, TSMC
Executive Vice President and Co-Chief Operating Officer, TSMC
Senior Vice President, Business Development, TSMC
Senior Vice President, Mainstream Technology Business, TSMC
Senior Vice President, Chartered Semiconductor Manufacturing Ltd.

None

None

None

None

Senior Vice President
Human Resources
Lora Ho

FemaleR.O.C.

06/01/1999

4,399,342

0.02%

2,059,530

0.01%

-

-

Master, Business Administration, National Taiwan University, Taiwan
Senior Vice President, Europe and Asia Sales, TSMC
Senior Vice President, Chief Financial Officer/Spokesperson, TSMC
Senior Director, Accounting, TSMC
Vice President & CFO, TI-Acer Semiconductor Manufacturing Corp.

Director and/or Supervisor, TSMC subsidiaries

None

None

None

Senior Vice President
Research and Development
Wei-Jen Lo

Male

R.O.C.

07/01/2004

1,441,127

0.01%

-

-

-

-

Ph.D., Solid State Physics and Surface Chemistry, University of California, Berkeley, U.S.
Vice President, Technology Development, TSMC
Vice President, Manufacturing Technology, TSMC
Vice President, Advanced Technology Business, TSMC
Vice President, Operations II, TSMC
Director, Advanced Technology Development and CTM Plant Manager, Intel Corp.

None

None

None

None

Senior Vice President
Corporate Strategy Office
CEO & President
TSMC AZ
Rick Cassidy

Male

U.S.

11/14/1997

-

-

-

-

-

-

Bachelor, Engineering Technology, United States Military Academy at West Point, U.S.
Chief Executive Officer, TSMC North America
President, TSMC North America
Vice President, TSMC North America

President and CEO, TSMC subsidiary (Note 5)

None

None

None

Senior Vice President
Operations
Y.P. Chin

Male

R.O.C.

01/01/1987

4,920,122

0.02%

4,191,107

0.02%

-

-

Master, Electrical Engineering, National Cheng Kung University, Taiwan
Senior Vice President, Product Development, TSMC
Vice President, Advanced Technology and Business, TSMC

Director, TSMC subsidiaries

None

None

None

Senior Vice President
Research and Development
Y.J. Mii

Male

R.O.C.

11/14/1994

1,002,419

0.00%

-

-

-

-

Ph.D., Electrical Engineering, University of California, Los Angeles, U.S.
Vice President, Technology Development, TSMC
Senior Director, Platform I Division, TSMC

None

None

None

None

Senior Vice President
Chief Information Security Officer
Information Technology and Materials Management& Risk Management
J.K. Lin

Male

R.O.C.

01/01/1987

12,648,251

0.05%

1,047,961

0.00%

-

-

Bachelor, Science, National Changhua University of Education, Taiwan
Vice President, Mainstream Fabs and Manufacturing Technology, TSMC
Senior Director, Mainstream Fabs, TSMC

None

None

None

None

Senior Vice President
Europe & Asia Sales and Research & Development/
Corporate Research
Cliff Hou

Male

R.O.C.

12/15/1997

404,575

0.00%

60,802

0.00%

-

-

Ph.D., Electrical Engineering, Syracuse University, U.S.
Senior Vice President, Technology Development, TSMC
Vice President, Design and Technology Platform, TSMC
Senior Director, Design and Technology Platform, TSMC

Director and/or President, TSMC subsidiaries
Director, TSMC affiliate

None

None

None

Senior Vice President
Business Development
Kevin Zhang

Male

U.S.

11/01/2016

105,000

0.00%

-

-

-

-

Ph.D., Electrical Engineering, Duke University, U.S.
Vice President, Design and Technology Platform, TSMC
Vice President, Technology and Manufacturing Group, Intel Corp.

None

None

None

None

Vice President and General Counsel
Corporate Governance Officer
Legal
Sylvia Fang

FemaleR.O.C.

03/20/1995

700,285

0.00%

67,9060.00%

384,000

0.00%

Master, Comparative Law, School of Law, University of Iowa, U.S.
Attorney-at-law, Taiwan
Associate General Counsel, TSMC
Senior Associate, Taiwan International Patent and Law Office (TIPLO)

Director and/or Supervisor, TSMC subsidiaries

None

None

None

Vice President
Operations/Fab Operations I
Y.L. Wang

Male

R.O.C

06/01/1992

218,5350.00%

1,135,529

0.00%

-

-

Ph.D., Electrical Engineering, National Chiao Tung University, Taiwan
Vice President, Fab Operations, TSMC
Vice President, Technology Development, TSMC
Vice President, Fab 14B, TSMC
Senior Director, Fab 14B, TSMC

Director, TSMC subsidiary (Note 5)

None

None

None

Vice President and TSMC Distinguished Fellow
Pathfinding for System Integration
Douglas Yu

Male

R.O.C.

12/28/1994

250,000

0.00%

-

-

-

-

Ph.D., Materials Engineering, Georgia Institute of Technology, U.S.
Vice President, Integrated Interconnect & Packaging, TSMC
Senior Director, Integrated Interconnect & Packaging Division, TSMC

None

None

None

None

Vice President and TSMC Fellow
Operations/Advanced Technology and Mask
Engineering
T.S. Chang

Male

R.O.C.

02/06/1995

173,781

0.00%

-

-

-

-

Ph.D., Electrical Engineering, National Tsing Hua University, Taiwan
Vice President, Product Development, TSMC
Vice President, Fab 12B, TSMC
Senior Director, Fab 12B, TSMC

None

None

None

None

Vice President
Research and Development/Platform Technology
Michael Wu

Male

R.O.C.

12/09/1996

485,501

0.00%

198,943

0.00%

-

-

Ph.D., Electrical Engineering, University of Wisconsin-Madison, U.S.
Senior Director, Platform Development, TSMC

None

None

None

None

Vice President
Research and Development/Pathfinding
Min Cao

Male

U.S.

07/29/2002

363,152

0.00%

34,470

0.00%

-

-

Ph.D., Physics, Stanford University, U.S.
Senior Director, Pathfinding Division, TSMC

None

None

None

None

(Continued)

032

033

TitleName(Note1)

GenderNationality

On-board Date
(Note 2)

Shares Held by Spouse& Minors

Shares Held

Shares Held in the Nameof Others

Shares(Note 3)%

Shares(Note 3)%

Shares(Note 3)%Vice President
Operations/Fab Operations II
Y.H. Liaw

Male

R.O.C.

08/03/1988

370,000

0.00%

-

-

430,000

0.00%

Vice President
Research and Development/Advanced Tool andModule Development
Simon Jang

Male

R.O.C.

09/01/1993

351,695

0.00%

663

0.00%

-

Vice President and Chief Financial Officer
Spokesperson
Finance
Wendell Huang

Male

R.O.C.

05/03/1999

1,651,924

0.01%

-

-

Vice President
Research and Development/More than Moore
Technologies
C.S. Yoo

Male

R.O.C.

06/16/1988

1,703,690

0.01%

219,924

Vice President
Quality and Reliability and Operations/Advanced
Packaging Technology and Service
Jun HeMale

U.S.

05/22/2017

28,371

0.00%

Vice President
Research and Development/Platform Technology
Geoffrey Yeap

Male

U.S.

03/21/2016

58,000Vice President and Chief Information Officer
Information Technology and Materials Management& Risk Management/Corporate Information
Technology
Chris Horng-Dar Lin

Male

U.S.

01/04/2021

Vice President
Corporate Planning Organization
Jonathan Lee

Male

R.O.C.

Vice President
Operations/Facility
Arthur Chuang

Male

Vice President and TSMC Fellow
Research and Development/Design & Technology
Platform
L.C. Lu
Vice President
Research and Development/Integrated Interconnect& Packaging
K.C. Hsu

Education and Selected Past Positions

Selected Current Positions at Other
Companies

Managers Who are Spouses or within Second-degree
Relative of Consanguinity to Each Other (Note 4)
Title

Name

Relation

Master, Chemical Engineering, National Tsing Hua University, Taiwan
Vice President, Fab Operations, TSMC
Vice President, Fab 15B, TSMC
Senior Director, Fab 15B, TSMC

Director, TSMC subsidiaries
Director, TSMC affiliate (Note 6)

None

None

None

-

Ph.D., Materials Science & Engineering, Massachusetts Institute of Technology, U.S.
Senior Director, Advanced Tool and Module Development Division, TSMC

None

1. Deputy Director
2. Manager

1. Sharon Jang
2. Jimmy Hu

1. Sister
2. Brother in law--

Master, Business Administration, Cornell University, U.S.
Deputy Chief Financial Officer, TSMC
Senior Director, Finance Division, TSMC
Vice President, Corporate Finance, ING Barings
Vice President, Corporate Finance, Chase Manhattan Bank
Vice President, Corporate Finance, Bankers Trust Company

Director, Supervisor, and/or President, TSMC
subsidiaries
Director, TSMC affiliate

None

None

None

0.00%

851,908

0.00%

Ph.D., Chemical Engineering, Worcester Polytech. Institute, U.S.
Vice President, Europe & Asia Sales, TSMC
Senior Director, Office of Strategy Customer Program, TSMC
Senior Director, E-Beam Operation Division, TSMC

None

None

None

None

-

-

-

-

Ph.D., Materials Science and Engineering, University of California, Santa Barbara, U.S.
Senior Director, Quality and Reliability, TSMC
Senior Director, Head of Quality and Reliability for Technology & Manufacturing Group,Intel Corp.

Director, TSMC subsidiaries

None

None

None

0.00%

-

-

-

-

Ph.D., Electrical and Computer Engineering, University of Texas-Austin, U.S.
Senior Director, Platform Development, TSMC
Senior Director, Advanced Technology, TSMC
Vice President, Engineering, Silicon Technology, Qualcomm

None

None

None

None

16,000

0.00%

-

-

-

-

Ph.D., Electrical Engineering and Computer Science, University of California, Berkeley, U.S.
Vice President, Information Technology, Mozilla
Director, Enterprise Platform Infrastructure, Facebook

None

None

None

None

05/28/2007

368,604

0.00%

6,000

0.00%

-

-

Master, Business Administration, City University of New York, Baruch College, U.S.
Senior Director, Strategic Planning Division, TSMC

None

None

None

None

R.O.C.

01/17/1989

2,602,981

0.01%

1,993,040

0.01%

-

-

Ph.D., Civil Engineering, National Taiwan University, Taiwan
Senior Director, Facility Division, TSMC

None

Section Manager

Gavin Chuang

Brother

Male

R.O.C.

08/01/2000

175,2270.00%

15,000

0.00%

-

-

Ph.D., Computer Science, Yale University, U.S.
Senior Director, Digital IPs Solution Division, TSMC

None

None

None

None

Male

R.O.C.

11/01/2021

60,000

0.00%

-

-

-

-

Master, Technology Management, National Chiao-Tung University, Taiwan
Taiwan Country Manager, Micron Technology Inc.
President, WaferTech, LLC

None

None

None

None

Note 1: Senior Vice President Mr. J.K. Wang retired, effective May 7, 2022. Vice President Ms. Connie Ma retired, effective November 1, 2022. Vice President Dr. Marvin Liao retired, effective November 11, 2022.
Note 2: On-board date means the official date joining TSMC.
Note 3: Does not include shares held in the form of ADSs.
Note 4: P resident (or someone with an equivalent job responsibility, i.e. the highest ranking manager of the company) and Chairman are not (1) the same person, (2) in a marital relationship with each other, or (3)within one degree of consanguinity.
Note 5: Effective April 1, 2023, Mr. Rick Cassidy was appointed as Chairman of the Board of Directors and Mr. Y.L. Wang was appointed as CEO of TSMC Arizona Corporation.
Note 6: Effective April 1, 2023, Mr. Y.H. Liaw was appointed as CEO of Japan Advanced Semiconductor Manufacturing, Inc., in addition to his current position as Representative Director of the Company.

034

035

2.5.2 Compensation Paid to CEO and Vice Presidents (Note 1)
Unit: NT$

Severance Pay and Pensions (B)(Note 3)

Salary (A)
Title

Name
From TSMC

From All
Consolidated
Entities

Bonuses and Allowances (C)(Note 4)

From TSMC

From All
Consolidated
Entities

From TSMC

From All Consolidated Entities

From TSMC

From All
Consolidated
Entities

Cash

Stock (FairMarket Value)

Cash

Stock (FairMarket Value)

From TSMC

From All
Consolidated
Entities

Compensation Received
from Non-consolidated
Affiliates or Parent
Company

Chief Executive Officer

C.C. Wei

14,185,740

14,185,740

214,206

214,206

339,218,378

339,218,378

289,768,390-

289,768,390-

0.0633%0.0633%-Vice President, Chief Financial Officer/Spokesperson

Wendell Huang

5,684,782

5,684,782

85,84185,841

59,631,853

59,631,853

50,691,071-

50,691,071-

0.0114%0.0114%-

Senior Vice President

Lora Ho

Senior Vice President

Wei-Jen Lo

Senior Vice President/CEO & President of TSMC Arizona

Rick Cassidy

Senior Vice President

Y.P. Chin

Senior Vice President

Y.J. Mii

Senior Vice President/Chief Information Security Officer

J.K. Lin

Senior Vice President

J.K. Wang (Note 2)

Senior Vice President

Cliff Hou

Senior Vice President

Kevin Zhang

Vice President and General Counsel/Corporate Governance Officer

Sylvia Fang

Vice President

Connie Ma (Note 2)Vice President

Y.L. Wang

Vice President and TSMC Distinguished Fellow

Douglas Yu

Vice President and TSMC Fellow

T.S. Chang

139,283,107

156,214,664

2,103,179

2,498,979

1,549,049,735

1,679,252,719

1,311,694,719-

1,311,694,719-

0.2953%0.3098%-Vice President

Michael Wu

Vice President

Min Cao

Vice President

Marvin Liao (Note 2)Vice President

Y.H. Liaw

Vice President

Simon Jang

Vice President

C.S. Yoo

Vice President

Jun HeVice President

Geoffrey Yeap

Vice President and Chief Information Officer

Chris Horng-Dar Lin

Vice President

Jonathan Lee

Vice President

Arthur ChuangVice President and TSMC Fellow

L.C. Lu

Vice President

K.C. Hsu
159,153,629

176,085,186

2,403,226

2,799,026

1,947,899,966

2,078,102,950

1,652,154,180-

1,652,154,180-

0.3700%0.3846%-

Total

Note 1: C ompensation policy, standards/packages, procedures, the linkage to operating performance and future risk exposure: The total compensation paid to the executive officers is based on their job responsibility,
contribution, company performance, and projected future risks the Company will face. It is reviewed by the Compensation Committee then submitted to the Board of Directors for approval.
Note 2: S enior Vice President Mr. J.K. Wang retired, effective May 7, 2022. Vice President Ms. Connie Ma retired, effective November 1, 2022. Vice President Dr. Marvin Liao retired, effective November 11, 2022. The
pension payment to Mr. J.K. Wang, Ms. Connie Ma and Dr. Marvin Liao amounts to NT$34,518,105.
Note 3: Pensions funded according to applicable law.
Note 4: The above-mentioned figures include the expense for the business performance bonuses distributed in May, August, November 2022 & February 2023, and Company cars and gasoline reimbursements.
Note 5: T otal compensation paid to the executive officers from TSMC in 2021 accounted for 0.3788% of 2021 net income. Total compensation paid to the executive officers from all consolidated entities in 2021
accounted for 0.3987% of 2021 net income.

036(A+B+C+D)
as a % of Net Income (Note 5)

Profit Sharing (D)Compensation Paid to CEO and Vice Presidents
2022
From TSMC

From All Consolidated Entities and Non-consolidated Affiliates

NT$0 ~ NT$999,999

Rick Cassidy

None

NT$1,000,000 ~ NT$1,999,999

None

None

NT$2,000,000 ~ NT$3,499,999

None

None

NT$3,500,000 ~ NT$4,999,999

None

None

NT$5,000,000 ~ NT$9,999,999

None

None

NT$10,000,000 ~ NT$14,999,999

None

None

NT$15,000,000 ~ NT$29,999,999

None

None

NT$30,000,000 ~ NT$49,999,999

J.K. Wang (Note 2)

J.K. Wang (Note 2)

NT$50,000,000 ~ NT$99,999,999

Connie Ma (Note 2), Marvin Liao (Note 2), Y.H. Liaw, Simon Jang, C.S. Yoo,Jun He, Geoffrey Yeap, Chris Horng-Dar Lin, Jonathan Lee, Arthur Chuang,
L.C. Lu, K.C. Hsu

Connie Ma (Note 2), Marvin Liao (Note 2), Y.H. Liaw, Simon Jang, C.S. Yoo,Jun He, Geoffrey Yeap, Chris Horng-Dar Lin, Jonathan Lee, Arthur Chuang,
L.C. Lu, K.C. Hsu

Over NT$100,000,000

C.C. Wei, Wendell Huang, Lora Ho, Wei-Jen Lo, Y.P. Chin, Y.J. Mii, J.K. Lin,
Cliff Hou, Kevin Zhang, Sylvia Fang, Y.L. Wang, Douglas Yu, T.S. Chang,Michael Wu, Min Cao

C.C. Wei, Wendell Huang, Lora Ho, Wei-Jen Lo, Rick Cassidy, Y.P. Chin, Y.J.
Mii, J.K. Lin, Cliff Hou, Kevin Zhang, Sylvia Fang, Y.L. Wang, Douglas Yu, T.S.
Chang, Michael Wu, Min Cao

Total

29

29

037

2.5.3 Employees’ Profit Sharing Paid to Management Team
Unit: NT$

Title

Name

Stock
(Fair Market Value)

Cash

Total

Total Profit Sharing Paid to Management
Team as a % of Net Income

Chief Executive Officer

C.C. Wei-

289,768,390

289,768,390

0.0285%Vice President, Chief Financial Officer/Spokesperson

Wendell Huang-

50,691,071

50,691,071

0.0050%Senior Vice President

Lora Ho

Senior Vice President

Wei-Jen Lo

Senior Vice President/CEO & President of TSMC Arizona

Rick Cassidy

Senior Vice President

Y.P. Chin

Senior Vice President

Y.J. Mii

Senior Vice President/Chief Information Security Officer

J.K. Lin

Senior Vice President

J.K. Wang (Note)

Senior Vice President

Cliff Hou

Senior Vice President

Kevin Zhang

Vice President and General Counsel/Corporate Governance Officer

Sylvia Fang

Vice President

Connie Ma (Note)

Vice President

Y.L. Wang

Vice President and TSMC Distinguished Fellow

Douglas Yu

Vice President and TSMC Fellow

T.S. Chang-

1,311,694,719

1,311,694,719

0.1290%Vice President

Michael Wu

Vice President

Min Cao

Vice President

Marvin Liao (Note)

Vice President

Y.H. Liaw

Vice President

Simon Jang

Vice President

C.S. Yoo

Vice President

Jun HeVice President

Geoffrey Yeap

Vice President and Chief Information Officer

Chris Horng-Dar Lin

Vice President

Jonathan Lee

Vice President

Arthur ChuangVice President and TSMC Fellow

L.C. Lu

Vice President

K.C. Hsu-

1,652,154,180

1,652,154,180

0.1625%Total
Note: Senior Vice President Mr. J.K. Wang retired, effective May 7, 2022. Vice President Ms. Connie Ma retired, effective November 1, 2022. Vice President Dr. Marvin Liao retired, effective November 11, 2022.

038

039