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confidential Feb. 22, 2016 CyberLink (5203.TW) 2015 Results Conference The Innovative Experience Provider for CREATE & PLAY of Digital Media

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  • confidential

    Feb. 22, 2016

    CyberLink (5203.TW)

    2015 Results Conference The Innovative Experience Provider for CREATE & PLAY of Digital Media

  • confidential

    Safe Harbor Notice

    The following pages contain projections & estimates of financial

    information as well as market and product developments for future

    periods. These projections & estimates are based on information

    currently available which we believe to be reliable, but they involve risks

    & uncertainties. Our actual results of operations & financial condition

    may differ significantly from those contained in the projections &

    estimates. The projections & estimates should not be interpreted as

    legally binding commitments, but rather as flexible information subject

    to change occasionally.

    2

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    Q4-2015 and 2015 Financial Results

    Business Update

    Q&A

    Agenda

    3

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    Q4-2015 & 2015 Financial Results (Un-audited)

    4

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    Financial Highlights • Q4’15

    – Revenue NT$570.7M, +24.6% Q/Q, +0.7% Y/Y

    – Gross Profit NT$498.1M, +33.4% Q/Q, +1.0% Y/Y

    – Operating Income NT$237.4M, +80.6% Q/Q, +34.0% Y/Y

    – Net Income NT$157.6M and net margin 27.6%. Basic EPS after tax reached

    NT$1.59

    • 2015

    – Revenue NT$1,976.4M, -11.1% Y/Y. Gross Profit NT$1,685.0M, -11.9% Y/Y

    – Operating Income NT$631.2M and operating margin 31.9%, -6.6% Y/Y

    – Net Income NT$556.6M. Basic EPS after tax hit NT$5.60

    • Balance Sheet

    – Cash, cash equivalent & short-term investment at NT$3,339.4M as of end of 2015,

    accounting for 55.0% of total asset. No debt.

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    Consolidated Income Statement Q4-2015

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    In NT$K Q4'15 % Q4'14 % Y/Y Q3'15 % Q/Q

    Net sales 570,726 100.0% 566,890 100.0% 0.7% 457,954 100.0% 24.6%

    Cost of goods Sold (72,651) 12.7% (73,941) 13.0% -1.7% (84,687) 18.5% -14.2%

    Gross Profit 498,075 87.3% 492,949 87.0% 1.0% 373,267 81.5% 33.4%

    Operating Expense (260,656) 45.7% (315,783) 55.7% -17.5% (241,822) 52.8% 7.8%

    R&D (92,600) 16.2% (125,526) 22.1% -26.2% (95,678) 20.9% -3.2%

    S&M (125,553) 22.0% (148,933) 26.3% -15.7% (113,115) 24.7% 11.0%

    G&A (42,503) 7.4% (41,325) 7.3% 2.9% (33,029) 7.2% 28.7%

    Operating Income 237,419 41.6% 177,166 31.3% 34.0% 131,445 28.7% 80.6%

    Non Operating Income (31,453) 5.5% 94,762 16.7% -133.2% 75,420 16.5% -141.7%

    Income before Tax 205,966 36.1% 271,928 48.0% -24.3% 206,865 45.2% -0.4%

    Income after Tax 157,640 27.6% 218,912 38.6% -28.0% 165,526 36.1% -4.8%

    Basic EPS before Tax (in NT$) 2.07 2.71 -23.6% 2.07 -0.2%

    Basic EPS after Tax (in NT$) 1.59 2.19 -27.4% 1.66 -4.2%

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    Consolidated Income Statement 2015

    In NT$K 2015 % 2014 % Y/Y

    Net sales 1,976,411 100.0% 2,222,549 100.0% -11.1%

    Cost of goods Sold (291,446) 14.7% (310,352) 14.0% -6.1%

    Gross Profit 1,684,965 85.3% 1,912,197 86.0% -11.9%

    Operating Expense (1,053,812) 53.3% (1,236,361) 55.6% -14.8%

    R&D (405,712) 20.5% (500,967) 22.5% -19.0%

    S&M (504,397) 25.5% (545,129) 24.5% -7.5%

    G&A (143,703) 7.3% (190,265) 8.6% -24.5%

    Operating Income 631,153 31.9% 675,836 30.4% -6.6%

    Non Operating Income (Loss) 61,150 3.1% 207,776 9.3% -70.6%

    Income before Tax 692,303 35.0% 883,612 39.8% -21.7%

    Income after Tax 556,640 28.2% 706,977 31.8% -21.3%

    Basic EPS before Tax (in NT$) 6.97 8.82 -21.0%

    Basic EPS after Tax (in NT$) 5.60 7.06 -20.6%

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    8

    Create vs. Play

    Gross Profit Breakdown

    B2B vs. B2C

    51% 54% 59% 63%

    49% 46% 41% 37%

    0%

    20%

    40%

    60%

    80%

    100%

    2012 2013 2014 2015

    35% 39% 46%

    56%

    65% 61% 54%

    44%

    0%

    20%

    40%

    60%

    80%

    100%

    2012 2013 2014 2015

    Play: Products of playback, media server/client, codec pack, etc.

    Create: Products of Creativity, burning, media management and others.

    B2B: Conventional hardware bundling.

    B2C&Others: Direct sales to end users, site license, project income, etc.

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    Q1-2016 Outlook

    • Consolidated Q1-2016 guidance assuming FX NT$33:

    – Revenue (Y/Y) : 8.5% +/- 1.5%

    (compare to same period last year)

    – Gross Margin : 84.5% +/- 1.5%

    (same period last year: 85.6% )

    – Operating Margin : 36% +/- 1.5%

    (same period last year: 26.8% )

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    Business Update

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    Winner of 2016 BCN Award

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    • PowerDVD, PowerDirector, Power2Go recognized as the 2016 Best Products in Video Category in Japan!

    • BCN is the most influential market research firm in Japan, and annually award the #1 vendors in terms of volume of sales through out the previous year.

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    PowerDirector 14 Recognized as PC Mag’s Best Products of 2015 & the 7th time

    Winner of Editors’ Choice

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    “Its wealth of powerful tools would be enough to give it a strong recommendation, but the speed with which PowerDirector handles editing and rendering digital movies really gives it the upper hand in the face of many competing products,” PCMag

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    PhotoDirector Android Best Image-Editing App by ANDROIDPIT

    Founded in 2009, AndroidPIT is the world’s largest Android website, featuring Android hardware and app reviews, news and advice.

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    https://www.androidpit.com/best-android-apps

    https://www.androidpit.com/best-android-appshttps://www.androidpit.com/best-android-appshttps://www.androidpit.com/best-android-appshttps://www.androidpit.com/best-android-appshttps://www.androidpit.com/best-android-appshttps://www.androidpit.com/best-android-apps

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    Toshiba Announces 「dynabook」2016 Spring Models with PowerDirector and PhotoDirector

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    http://dynabook.com/pcs/press-release/20160119.html

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    Summary

    • 2015 basic EPS after tax reached NT$5.60

    • Expect Q1-2016 to show positive growth due mainly to • The continuous growth of B2C

    • The ease of B2B decline

    • Award recognition for CyberLink products on PCs and smart-devices.

    • Toshiba 「dynabook」comes with PowerDirector & PhotoDirector.

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    Thank You!

    For more information about CyberLink: www.CyberLink.com

    For IR inquiries, suggestions and comments:

    [email protected]