JASM

2
Company
Profile
TSMC’s total wafer shipments were 12 million 12-inch
equivalent wafers in 2023.

015
 2.1 An Introduction to TSMC and 16nm/12nm FinFET process technology. ESMC aims to flexibility to unleash innovation and is another differentiating the expanding use of in-house application-specific integrated
begin construction of the fab in the second half of 2024 with competitive advantage for the Company. circuits (ASIC) by systems companies.
Established in 1987 and headquartered in Hsinchu Science production targeted to begin by the end of 2027.
Park, Taiwan, TSMC pioneered the pure-play foundry business 2.2.2 Market Overview As an upstream supplier in the semiconductor supply chain, the
model with an exclusive focus on manufacturing its customers’ foundry segment is tightly correlated with the market health
The Company continues to execute its plan to construct and
products. By choosing not to design, manufacture or market TSMC estimates that the worldwide semiconductor market
operate two fabs in Arizona, the United States. Production of all major platforms including high performance computing
any semiconductor products under its own name, the excluding memory reached US$481 billion in revenue in 2023,
of the first fab is targeted for the first half of 2025 and (HPC), smartphones, Internet of Things (IoT), automotive, and
Company ensures that it never competes with its customers. representing a 2% decline from 2022. In the foundry segment
construction of the second fab is ongoing. TSMC is also digital consumer electronics (DCE).
Based on this founding principle, the key to TSMC’s success of the semiconductor industry, total revenue fell to US$114
building a new fab in Kumamoto, Japan, with production
has always been to enable its customers’ success. TSMC’s billion in 2023, a 13% year-over-year decrease.
projected for late 2024. ● High Performance Computing (HPC)
foundry business model has led to the rise of the global fabless
The HPC platform includes PCs, tablets, game consoles, servers,
industry and, since its inception, TSMC has been one of the 2.2.3 Industry Outlook, Opportunities and Threats
TSMC provides customer support, account management base stations and more. Major HPC unit shipments declined
world-leading semiconductor foundries. In 2023, the Company
and engineering services through offices in North America, Foundry Industry Demand and Supply Outlook 14% in 2023 due to prolonged high inflation, macro-economic
manufactured 11,895 different products using 288 distinct
Europe, Japan, China, and South Korea. At the end of 2023, In 2023, TSMC’s revenues in the foundry segment declined, uncertainty and continued inventory correction, all resulting
technologies for 528 different customers.
the Company and its subsidiaries employed more than 76,000 primarily due to the weak electronic equipment (EE) end in weak demand on the consumer side. Meanwhile, demand
people worldwide. demand and supply-chain inventory corrections. Although for servers and data centers equipped with accelerators
TSMC-made semiconductors serve a global customer base
industry megatrends, such as 5G, artificial intelligence (AI), was relatively healthy, to fulfill the rapidly expanding types
that is large and diverse entailing a wide range of applications.
The Company is listed on the Taiwan Stock Exchange (TWSE) and accelerating digital transformation remained intact, and needs of AI applications, especially generative AI, and
These products are used in a variety of end markets including
under ticker number 2330, and its American Depositary Shares macro-economic uncertainties dampened both consumer and continued 5G base station deployment.
high performance computing, smartphones, the Internet of
(ADSs) are traded on the New York Stock Exchange (NYSE) business spending, resulting in reduced demand for many EE
Things (IoT), automotive, and digital consumer electronics.
under the symbol TSM. devices, such as smartphones and personal computers (PCs). Moving into 2024, despite lingering macro-economic
Such strong diversification helps to smooth fluctuations in
In addition, the electronics supply chain experienced severe uncertainty, TSMC projects low-single-digit growth in HPC
demand, which in turn allows TSMC to maintain high levels 2.2 Market/Business Summary inventory corrections throughout 2023 to digest the excess unit shipments driven by normalized inventory levels, pent-up
of capacity utilization and profitability, and generate healthy
inventory that had accumulated over the past two years due to demand resulting from declines in the past two years, and
returns for future investment. 2.2.1 TSMC Achievements
supply uncertainties, impacting the growth of foundry segment the ongoing AI arms race. Longer term, an increasingly
In 2023, TSMC maintained its leading position in the foundry and TSMC. intelligent and more connected 5G world will demand massive
The annual capacity of the manufacturing facilities managed
segment of the global semiconductor industry by accounting computing power as well as increasingly energy-efficient
by TSMC and its subsidiaries exceeded 16 million 12-inch
for 28% of the worldwide semiconductor market excluding Looking ahead to 2024, macro-economic and geopolitical computing. Both of these require higher performance and
equivalent wafers in 2023. These facilities include four 12-inch
memory, a decrease from 30% in 2022, mainly due to the uncertainties remain high. However, TSMC expects end more power-efficient central processing units (CPUs), graphics
wafer GIGAFAB® fabs, four 8-inch wafer fabs, and one 6-inch
semiconductor industry inventory correction. demand for many EE products such as smartphones and PCs processor units (GPUs), Network Processing Units (NPUs), AI
wafer fab – all in Taiwan – as well as one 12-inch wafer fab at accelerators, and related ASICs, which will drive the overall HPC
to gradually recover with mild growth spurred in part by the
a wholly owned subsidiary, TSMC Nanjing Company Limited, platform towards richer silicon content, more advanced process
The Company’s strong market position stems in great part pent-up demand after consecutive declines in the past two
and two 8-inch wafer fabs at wholly owned subsidiaries, TSMC technologies and advanced 3D packaging. These trends are all
from its leadership in advanced process technologies. In years. In addition, the acceleration of AI related adoptions
Washington (previously called WaferTech) in the United States favorable to TSMC given TSMC’s technology leadership in these
2023, 58% of TSMC’s wafer revenue came from advanced will also fuel demand for semiconductors. The Company
and TSMC China Company Limited. areas
manufacturing processes – defined as geometries of 7nm and also expects the overall excess inventory in the system and IC
smaller – up from 53% in 2022. companies to be largely digested and back to healthy levels
In August 2023, TSMC announced its plan to jointly invest
by the first half of 2024, establishing a solid base for growth ● Smartphones
in European Semiconductor Manufacturing Company
TSMC offers a comprehensive technology portfolio and in 2024. For the longer term, driven by the above-mentioned Due to higher inflation, a soft global economy and the
(ESMC) GmbH, in Dresden, Germany, to build a specialty
continues to invest in advanced technologies, specialty megatrends and increasing semiconductor content in most ongoing Russo-Ukrainian war, smartphone unit shipments
technology fab focusing on automotive and industrial
technologies, and advanced packaging and silicon stacking EE devices, TSMC projects a high single-digit compound declined 6% in 2023, reflecting a slowdown in the pace of 5G
applications. 70% of ESMC’s equity stake is owned by TSMC,
technologies, to provide customers more added value. annual growth rate for the worldwide semiconductor market commercialization as well, thus prolonging the replacement
with Robert Bosch GmbH, Infineon Technologies AG, and
excluding memory from 2023 through 2028. Furthermore, the cycle of 4G. The long supply chain inventory correction
NXP Semiconductors N.V. each holding 10% equity stake.
In addition to its leadership in advanced process and specialty Company expects foundry segment revenue growth to outpace having subsided, smartphone growth is expected to return
Total investments are expected to exceed 10 billion Euros.
technologies, TSMC offers TSMC 3DFabric®, a comprehensive the growth of semiconductors excluding memory, fueled by due to greater demand from emerging countries as well as
The planned fab is expected to have a monthly capacity of
family of 3D silicon stacking and advanced packaging continuing market share gains by fabless companies, increases cyclical recovery. TSMC therefore projects a low-single-digit
40,000 300mm (12-inch) wafers on TSMC’s 28nm/22nm
technologies to complement its process technology offerings. in integrated device manufacturer (IDM) outsourcing, and growth for the smartphone market in 2024. Over the longer
planar complementary metal oxide semiconductor (CMOS)
TSMC 3DFabric® provides customers greater chip design term, however, the inevitable migration to 5G, together with

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 improved performance, longer battery life, biosensors and demand and OEM inventory restocking as supply chains Supply Chain TSMC is well recognized for industry-leading manufacturing
more edge AI features, will all continue to propel smartphone normalized. The ongoing headwinds of high inflation and The electronics industry features a long and complex supply capabilities and further extends its leadership through its Open
sales growth going forward. macro-economic uncertainty, however, are expected to hold chain, the elements of which are correlated and highly Innovation Platform® (OIP) and Grand Alliance initiatives. The
global car unit production to low-single-digit decline in 2024. interdependent. At the upstream manufacturing level, IC Company’s OIP initiative accelerates the pace of innovation
High performance and power efficient IC technologies are vendors need to have sufficient and flexible supply deliveries in the semiconductor design community and among the
essential requirements among handset manufacturers, and The megatrend in the automotive industry today is moving to handle fluctuating demand dynamics. Foundry vendors play Company’s ecosystem partners, as well as in its own IP, design
highly integrated chips and advanced 3D packaging designs toward “greener, safer and smarter,” which will accelerate an important role in maintaining the health and effectiveness and technology co-optimization (DTCO) capabilities, process
are the preferred solutions to optimize cost, power and form the adoption of electric vehicles (EVs), advanced driver of the supply chain. As a leader in the foundry segment, TSMC technology and backend services. A key element is a set of
factor (IC footprint and thickness). The migration to advanced assistance systems (ADAS) and smart cockpit/infotainment provides advanced technologies and large-scale capacity to ecosystem interfaces and collaborative components initiated
process technologies will certainly continue, spurred by the systems, along with new electrical/electronic (E/E) architecture. complement the innovations created in the downstream chain. and supported by the Company to more efficiently empower
need for higher performance chips to run edge AI applications All these will lead to further boost demand for Application innovation throughout the supply chain and drive the creation
and various complex software computations as well as higher Processor (AP)/Microcontroller Unit (MCU)/ASIC processors, 2.2.4 TSMC Position, Differentiation and Strategy and sharing of new revenue and profits. The TSMC Grand
resolution images and video. TSMC is an acknowledged leader in-car networking, sensors, and power management ICs Alliance is one of the most powerful forces for innovation in
Position
in process technology for manufacturing highly integrated (PMICs), thus continuously increasing the silicon content the semiconductor industry, bringing together customers,
TSMC is a global semiconductor foundry leader in advanced
chips and advanced 3D packaging designs and, as such, is very per car. TSMC is well-positioned to support the automotive electronic design automation (EDA) partners and IP partners,
and specialty technologies and in advanced packaging
well positioned to serve the evolving smartphone market. industry’s megatrend transition, by providing advanced along with the partners in the new 3DFabric® Alliance, and key
technologies. In 2023, TSMC accounted for 28% of the
process technologies and manufacturing solutions that equipment and material suppliers – all to achieve new, higher
worldwide semiconductor market excluding memory, a
● Internet of Things (IoT) enable customers to develop competitive products for the levels of collaboration. Through this collaboration, the Grand
decrease from 30% in 2022, mainly due to the semiconductor
The IoT platform includes various types of smart connected automotive market. In addition, TSMC also offers a range Alliance’s objective is to help customers, Alliance members and
industry inventory correction. Net revenue by geography,
devices ranging from wearables and health monitors to home of automotive-grade manufacturing processes, including TSMC improve competitiveness and win business.
calculated mainly on the country in which customer companies
and industrial automation devices. After the pandemic, digital those with AEC-Q100 and ISO 26262 certification, to ensure
are headquartered, was: 68% from North America; 12% from
transformation has resumed, refueling IoT growth momentum. the highest levels of quality and reliability for automotive The foundation for customer trust is a commitment TSMC
China; 8% from the Asia Pacific region, excluding China and
Consumer and enterprise spending, however, was also held applications. made when it opened for business in 1987 to never compete
Japan; 6% from Europe, the Middle East and Africa; and 6%
back by global inflation and economic slowdown. The end with its customers. In keeping this commitment, the Company
from Japan. Net revenue by platform was: 43% HPC; 38%
result was a modest 3% growth rate in IoT device shipments in ● Digital Consumer Electronics (DCE) has never designed, manufactured or marketed any integrated
smartphones; 8% the IoT; and 6% automotive. In addition,
2023, with smart health and smart retail devices as the major The global DCE market declined 3% in 2023 as overall circuits under its own name, but instead has focused all of its
2% came from DCE, while other segments accounted for the
drivers. demand was sluggish for TVs, set-top boxes (STB) and other efforts and resources on becoming the trusted foundry for its
remaining 3%.
consumer products that sold well during pandemic. Fighting customers.
As IoT devices incorporate more AI features, the IoT industry longer replacement cycles, as well as high inflation squeezing
Differentiation
is expected to maintain long-term growth. The first half of consumer budgets, the TV market had a modest upswing Strategy
TSMC’s leadership position is based on three defining
2024 is projected to remain somewhat depressed, with growth of shipments in the U.S. due to restocking of low channel TSMC is confident that its competitive advantages will enable
competitive strengths and a business strategy rooted in the
momentum expected to recover in the second half. Overall, inventory but it was offset by weak demand in China, where it to prosper from the foundry segment’s many attractive
Company’s heritage. The Company distinguishes itself from the
TSMC projects IoT unit shipments will enjoy a high-single-digit economic growth has slowed and consumer spending fell due growth opportunities. For the five major markets, namely
competition through its technology leadership, manufacturing
growth in 2024. Additionally, as more AI functions to be to a variety of factors including a weakened housing market, smartphones, high performance computing, the Internet of
excellence, and customer trust.
incorporated, IoT devices will require chips with higher low marriage rates, and the US-China decoupling. Things, automotive, and digital consumer electronics, and
performance and lower power consumption. TSMC offers in response to the fact that the focus of customer demand
As a technology leader, TSMC is consistently first among
various manufacturing processes that supports the need In 2024, the DCE market is expected to have gradual recovery is shifting from a process-technology-centric to a product-
dedicated foundries to provide leading-edge, next-generation
of IoT industry, including advanced technology, ultra-low in Europe and emerging regions. Therefore, TSMC forecasts application-centric approach, the Company has constructed
technologies. The Company also maintains a leadership
power (ULP), and various special process technologies, to shipments to show a low-single-digit annual growth rate. five corresponding technology platforms to provide customers
position in more mature technologies by applying the lessons
support customers in providing differentiated, innovative and Potential growth drivers of the DCE market include large with comprehensive, competitive logic process technologies,
learned in developing advanced technologies to enrich its
competitive products, and fulfill requirements of sustainability screens, 120Hz/165Hz high frame rate Gaming TVs, voice AI specialty technologies, IPs and packaging and testing
specialty technologies. Beyond process technology, TSMC has
development. control, and WiFi 6 connectivity. Regardless of the timing of technologies to shorten customers’ time to design and time to
established frontend and backend integration capabilities to
the recovery, TSMC’s advanced technologies will continue market. These five platforms are:
create the optimum power/performance/area “sweet spot” to
●Automotive to enable DCE customers to create and differentiate their
help customers achieve faster time to production.
The global automotive market continues to recover from the innovative products.
supply constraints of the past couple years. Worldwide car unit
production grew 9% in 2023, supported by pent-up consumer

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 High Performance Computing (HPC): Driven by data explosion product applications, the Company offers highly competitive, Automotive: TSMC offers a comprehensive spectrum of business development and assists customers in taking on the
and AI application innovation, HPC has become one of the key leading-edge specialty technologies to deliver specialty technologies and services to support the automotive industry’s challenges of short product cycles and intense competition in
growth drivers for TSMC’s business. TSMC provides customers, companion chips for customers’ logic application processors, three megatrends – building vehicles that are “safer, smarter the electronic products market to meet return on investment
including both fabless IC design companies and system including radio frequency (RF), RF frontend, embedded flash and greener”. The Company is also an industry leader in (ROI) and growth objectives.
companies, with leading-edge logic process technologies memory, emerging memory, power management ICs, sensors, providing a robust automotive IP ecosystem, which covers
such as 3nm FinFET (N3), 4nm FinFET (N4), 5nm FinFET and display chips, as well as TSMC 3DFabric® advanced 5nm FinFET, 7nm FinFET, and 16nm FinFET technologies, for ●Short-Term Semiconductor Business Development Plan
(N5), 6nm FinFET (N6), 7nm FinFET (N7), and 12nm/16nm packaging technologies, such as industry-leading InFO ADAS, advanced in-vehicle infotainment (IVI), as well as zonal 1. S ubstantially ramp up the business and sustain advanced
FinFET (N12/N16), as well as comprehensive IPs including technology. controllers for new E/E architecture in the next generation technology market segment share by continually increasing
high-speed interconnect IPs, to meet customers’ product vehicles (internal combustion engine (ICE) and EV). In 2023, capacity and R&D investments.
requirements for transferring and processing vast amounts Internet of Things (IoT): To serve the three megatrends of the TSMC introduced its N3 Auto Early (N3AE) program, providing 2. M aintain mainstream technology market segment share by
of data anywhere at any time. Specifically, the Company IoT, “everything connected, smart and green,” TSMC not only automotive process design kits (PDKs) to support automotive expanding business to new customers and market segments.
introduced its HPC focused technologies, N4X and N3X, provides customers with solid logic technologies, including customers to adopt the industry's most advanced 3nm 3. C ontinue to enhance the competitive advantages of the
representing the ultimate performance and maximum clock 5nm, 6nm, 7nm, 12nm, 16nm, and 28nm, but also builds technology early on to design automotive application products. Company’s technology platforms in HPC, smartphones,
frequencies in TSMC’s 5nm and 3nm families, respectively. a leading, complete and highly integrated ULP technology IoT, automotive, and digital consumer electronics to
Based on advanced process nodes, a variety of HPC products platform based on its logic technologies to enable customers’ In addition to its advanced logic platform, TSMC offers a broad expand TSMC’s dedicated foundry services in these product
have been launched, such as AI accelerators (AI GPUs and AI product innovations for the artificial intelligence of things array of competitive automotive-grade specialty technologies applications.
ASICs), PC CPUs, consumer GPUs, field programmable gate (AIoT). including 28nm embedded flash memory, 28nm, 22nm, and 4. F urther expand TSMC’s business and service infrastructure
arrays (FPGAs), server processors, and high-speed networking 16nm mmWave RF, high sensitivity CMOS Image Sensor (CIS)/ into emerging and developing markets.
chips, etc. These products can be used in current and TSMC’s industry-leading ULP technologies, including the light detection and ranging (LiDAR) sensors, and PMICs. The
future 5G/6G infrastructures, AI, Cloud, and enterprise data new FinFET-based 6nm technology – N6eTM and 12nm emerging technology of magneto-resistive random access ●Long-Term Semiconductor Business Development Plan
centers. The Company also offers multiple TSMC 3DFabric® technology – N12eTM, feature both energy efficiency and high memory (MRAM) has demonstrated automotive Grade-1 1. C ontinue developing leading-edge technologies at a
advanced packaging and silicon stacking technologies, such performance. These technologies provide more computing capability on 22nm and has passed automotive Grade-1 predictable pace to achieve greater energy-efficient
as CoWoS®, Integrated Fan-Out (InFO), and TSMC-SoIC®, to power and AI inferencing capability while reducing system requirements on 16nm in 2023. All these technologies are computing.
enable homogeneous and heterogeneous chip integration power consumption. In addition, the planar transistor based applied to TSMC’s automotive process qualification standards 2. B roaden specialty business contributions by further
to meet customer requirements for high performance, high mainstream technologies, such as 22nm ultra-low leakage based on AEC-Q100 standards of Automotive Electronic developing derivative technologies.
compute density and high energy efficiency, low latency, and (ULL), 28nm ULP, 40nm ULP, and 55nm ULP technologies, Council (AEC) and/or meeting customers’ technology 3. P rovide more integrated services, covering system-level
high integration. TSMC will continue to optimize its high have been widely adopted by various IoT system-on-a-chip specifications. integration design, design technology definition, design tool
performance computing platform and strengthen collaboration (SoC) and battery-powered products to extend battery life. preparation, wafer processing, TSMC 3DFabric® advanced
with customers to help them capture market growth in HPC Digital Consumer Electronics (DCE): TSMC provides packaging and silicon stacking technologies, and testing
markets. TSMC’s ULP technology platform also provides customers with customers with leading, comprehensive technologies to deliver services, and so on, all of which deliver more value to
comprehensive specialty technologies, covering RF, enhanced AI-enabled smart devices for DCE applications, including customers through optimized solutions.
Smartphone: For customers’ premium product applications, analog devices, embedded flash memory, emerging memory, smart digital TVs (DTV), STB, AI-embedded smart cameras and
TSMC offers leading logic process technologies such as N3 sensors and display devices, and power management ICs, associated wireless local area networks (WLAN), PMICs, and
Enhanced (N3E), N3, N4 Plus (N4P), N4, N5 Plus (N5P), as well as multiple TSMC 3DFabric® advanced packaging timing controllers (T-CON) . The Company’s leading N6, N7,
N5, as well as comprehensive IPs to further enhance chip technologies, including InFO technology. In doing so, TSMC 16FFC/12FFC, 22ULP/22ULL and 28HPC+ technologies have
performance, reduce power consumption, and decrease chip supports the demand of various and rapidly growing AIoT been widely adopted by leading global makers of 8K/4K DTV,
size. For mainstream product applications, the Company product applications, including AP and edge computing MCU, 4K streaming STB/over-the-top (OTT), digital single-lens reflex
offers a broad range of logic process technologies, including wireless connectivity, Bluetooth, baseband processor, radio (DSLR) devices, and so on. TSMC will continue to make these
N6, 7nm FinFET Plus (N7+), N7, 12nm FinFET compact plus frequency identification (RFID), display devices and PMICs. technologies more cost competitive through die size shrink for
(12FFC+), 12nm FinFET compact (12FFC), 16nm FinFET For extreme low power product application requirements, customers’ digital intensive chip designs and to drive lower
compact plus (16FFC+), 16nm FinFET compact (16FFC), TSMC has also extended its low operating voltage (Low Vdd) power consumption for more cost-effective packaging.
28nm high performance compact (28HPC), 28nm high offerings and has provided simulation program with integrated
performance mobile compact plus (28HPC+), and 22nm circuit emphasis (SPICE) models with wide-range operating TSMC continually strengthens its core competitiveness and
ultra-low power (22ULP), in addition to comprehensive IPs, voltages and design guidelines to lower the adoption barrier deploys both short- and long-term plans for technology and
to satisfy customer needs for high performance and low and reduce product lead time to help customers successfully
power chips. Furthermore, for premium and mainstream launch innovative products.

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 2.3 Organization 2.3.2 Major Corporate Functions Materials Management
● Procurement, warehousing, import and export, and logistics

2.3.1 Organization Chart Operations

support
● Includes managing all fabs in Taiwan and overseas;

manufacturing technology development; product

As of 03/01/2024 Corporate Planning Organization
engineering, advanced packaging technology development,
Planning for operational resources, as well as for production
● 

Shareholders’ Meeting production and service integration

and demand; integration of business processes, corporate
Audit and Risk pricing, market analysis and forecasting
Committee Overseas Operations Office
Support the expansion of our global footprint and oversee
● 
Corporate Strategy Development
TSMC Arizona Organization, JASM Organization and ESMC
●Risk Management
Organization
Implementation of Enterprise Risk Management, Business
Compensation and Board of Directors
People Development Chairman Continuity Management and Crisis Management
Research and Development
Committee Vice Chairman
Advanced technology development, exploratory research,
● 
● Corporate Environmental, Safety and Health
and design and technology platform development, specialty
Environmental protection, safety and health management
Nominating, Corporate technology development
Governance and
and strategy formulation
Sustainability Pathfinding for System Integration
Corporate
Committee ● Corporate Information Security
CEO Office Governance Internal Audit ESG System Integration Technology Pathfinding
● 

Officer Communication services and assurance of IT security and

service quality
Europe and Asia Sales
Customer business, technical marketing, and regional market
● 
Finance and Spokesperson
development in Europe and Asia (China, Japan, South Korea
Corporate finance, accounting and corporate
● 
and Taiwan); immediate and comprehensive technical
communications; with the head of the organization also
Co-COO Office support, as well as customer service including customers in
serving as the Company Spokesperson
North America

Legal
North America
Corporate legal affairs including regulatory compliance,
● 
● Sales and market development, field technical solutions and
commercial transactions, patents and management of other
business operations for customers in North America
intellectual properties, and litigation
Operations
Overseas Operations Office Business Development
Research and Development Human Resources
Corporate Planning Organization Identification of market trends and new applications that
● 

Pathfinding for System Integration Personnel management, organizational development, physical

● 

Corporate Strategy Development shape the technology roadmap and portfolios for the
Europe and Asia Sales security management, employee services and wellness
Finance Company; also provides key support in strengthening
North America management
Legal customer relationships along with Company branding
Business Development
Human Resources
Quality and Reliability management
Internal Audit
Corporate Information Technology
Materials Management Inspection and review of the Company’s internal control
● 
Quality and Reliability
system, its adequacy in design and effectiveness in operation,
Assurance of the quality and reliability of the Company’s
● 
with independent risk assessment to ensure compliance
products by resolving issues at the developmental stage;
with the Company’s policies and procedures as well as with
improving and managing product quality at the production
external regulations
stage; providing solutions to customers’ quality related issues;
and providing services for advanced materials and failure
ESG
analysis
Identify ESG issues in relation to the Company’s operations
● 

and stakeholders’ concern, frame sustainability strategies,

Corporate Information Technology
goals, action plans and track implementation results,
Integration of the Company’s technology and business IT
● 
continuing to create sustainability value
systems; infrastructure development; implementing big data
and machine learning to improve the Company’s productivity
and accelerate R&D delivery

022 023
 2.4 Board Members

2.4.1 Information Regarding Board Members

As of 02/29/2024
Shares Currently Held by
Nationality or Shares Held When Elected Shares Currently Held Selected Education and Professional Qualification
Gender Date First Spouse & Minors Selected Current Positions at TSMC and
Title/Name Place of Date Elected Term Expires Past Positions
Age Elected Other Companies
Registration Shares (Note 1) % Shares (Note 1) % Shares (Note 1) % Current Positions at Non-profit Organizations

Chairman Male U.S. 07/26/2021 07/25/2024 06/08/2017 12,913,114 0.05% 12,967,192 0.05% - - Selected Education and Professional Qualification None
Mark Liu 66-70 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)

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
Chairman, Taiwan Semiconductor Industry Association (TSIA)
Vice Chairman Male R.O.C. 07/26/2021 07/25/2024 06/08/2017 7,179,207 0.03% 6,392,834 0.02% 700,261 0.00% Selected Education and Professional Qualification CEO, TSMC
C.C. Wei 71-75 Bachelor and Master Degrees in Electrical Engineering, National Chiao Tung University
Ph.D. in Electrical Engineering, Yale University, U.S.
Honorary Ph.D., National Yang Ming Chiao Tung University
Laureate, Industrial Technology Research Institute (ITRI)

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 Male 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 Chairman of:
F.C. Tseng 76-80 Bachelor Degree in Electrical Engineering, National Cheng Kung University - TSMC China Company Ltd. (a non-public company)
Master Degree in Electrical Engineering, National Chiao Tung University - Global UniChip Corp.
Ph.D. in Electrical Engineering, National Cheng Kung University Vice Chairman, Vanguard International Semiconductor
Honorary Ph.D., National Chiao Tung University Corp.
Honorary Ph.D., National Tsing Hua University

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, Chu-Ming Medical Foundation
Director 07/26/2021 07/25/2024 12/10/1986 1,653,709,980 6.38% 1,653,709,980 6.38% - -
National Development Fund, Executive Yuan
(Note 2)
Representative:
Ming-Hsin Kung Male R.O.C. 07/24/2020 779 0.00% 779 0.00% - - Selected Education and Professional Qualification Director, Taiwania Capital Management Corp.
56-60 (Note 3) (Note 3) Bachelor Degree in Statistics, Fu Jen Catholic University (Representative of National Development Fund,
Master Degree in Economics, National Taiwan University Executive Yuan) (a non-public company)
Ph.D. in Economics, National Chung Hsing University

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 National Development Fund, Executive Yuan

(Continued)

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 Shares Currently Held by
Nationality or Shares Held When Elected Shares Currently Held Selected Education and Professional Qualification
Gender Date First Spouse & Minors Selected Current Positions at TSMC and
Title/Name Place of Date Elected Term Expires Past Positions
Age Elected Other Companies
Registration Shares (Note 1) % Shares (Note 1) % Shares (Note 1) % Current Positions at Non-profit Organizations

Independent Director Male UK 07/26/2021 07/25/2024 05/07/2002 - - - - - - Selected Education and Professional Qualification Non-Executive Director of:
Sir Peter L. Bonfield 76-80 Bachelor Degree in Engineering, Loughborough University - Imagination Technologies Group Ltd., UK (a non-
Honorary Doctorate of Technology, Loughborough University public company)
Fellow of the Royal Academy of Engineering - Darktrace Plc, UK
Knighted, 1996
Awarded Commander of the Order of the British Empire (CBE), 1989
Awarded the Order of the Lion of Finland
Awarded 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
11 Honorary Doctorate Degrees in total
Past Positions
Semiconductor Engineer, Texas Instruments Inc. (T.I.), U.S.
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
Chairman, NXP Semiconductors N.V., the Netherlands
Senior Advisor, Alix Partners LLP, London
Advisory Board Member, The Longreach Group Ltd., HK
Board Mentor, Chairman Mentors International (CMi) Ltd., London
Independent Director Female R.O.C. 07/26/2021 07/25/2024 06/09/2011 - - - - - - Selected Education and Professional Qualification None
Kok-Choo Chen 76-80 Inns of Court School of Law, England
Barrister-at-law, England
Advocate & Solicitor, Singapore
Attorney-at-law, California, U.S.
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 Male U.S. 07/26/2021 07/25/2024 06/09/2015 - - - - - - Selected Education and Professional Qualification Lead Independent Director, NASDAQ, Inc.
Michael R. Splinter 71-75 Bachelor and Master Degrees in Electrical Engineering, University of Wisconsin-Madison Independent Director and Compensation Committee
Honorary Ph.D in Engineering, University of Wisconsin-Madison Chair, Gogoro Inc., Cayman Islands
Awarded 2013 Robert N. Noyce Award by Semiconductor Industry Association Independent Director, Compensation Committee
Member of the National Academy of Engineering Chair, and Nominating and Corporate Governance
Recognized as NACD (National Association of Corporate Directors) Directorship CertifiedTM, 2020 Committee Member, Tigo Energy, Inc., U.S.
Independent Director, Kioxia Holdings Corp., Japan (a
Past Positions non-public company)
Executive Vice President of Technology and Manufacturing Group, Intel Corp. General Partner of:
Executive Vice President of Sales and Marketing, Intel Corp. - WISC Partners LP, U.S.
CEO, Applied Materials, Inc. - MRS Business and Technology Advisors, U.S. (a non-
Chairman, Applied Materials, Inc. public company)
Director, The NASDAQ OMX Group, Inc.
Director, Silicon Valley Leadership Group
Director, SEMI
Director, Meyer Burger Technology Ltd., Switzerland
Chairman of the Board, NASDAQ, Inc.
Director, Pica8 Inc., U.S.
Director, University of Wisconsin Foundation, U.S.
Chairman of the Board, US-Taiwan Business Council
Current Positions at Non-profit Organizations
Chair of Industrial Advisory Committee, National Institute of Standards and Technology, Department of
Commerce, U.S.

(Continued)

026 027
 Shares Currently Held by
Nationality or Shares Held When Elected Shares Currently Held Selected Education and Professional Qualification
Gender Date First Spouse & Minors Selected Current Positions at TSMC and
Title/Name Place of Date Elected Term Expires Past Positions
Age Elected Other Companies
Registration Shares (Note 1) % Shares (Note 1) % Shares (Note 1) % Current Positions at Non-profit Organizations

Independent Director Male U.S. 07/26/2021 07/25/2024 06/05/2019 - - - - - - Selected Education and Professional Qualification Chairman of:
Moshe N. Gavrielov 66-70 Bachelor Degree in Electrical Engineering, Technion - Israel Institute of Technology - SiMa Technologies, Inc., U.S. (a non-public company)
Master Degree in Computer Science, Technion - Israel Institute of Technology - Foretellix, Ltd., Israel (a non-public company)
Independent Director, NXP Semiconductors N.V., the
Past Positions Netherlands
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)
Director, San Jose Institute of Contemporary Art, U.S.
Independent Director Male R.O.C. 07/26/2021 07/25/2024 06/09/2020 - - - - - - Selected Education and Professional Qualification Chairman, Delta Electronics, Inc. (Delta), 2012-
Yancey Hai 71-75 U.S. Master Degree in International Business Management, University of Texas at Dallas Chair of ESG Committee, Delta
Laureate, Industrial Technology Research Institute (ITRI) Director of Delta’s subsidiaries:
- Delta Electronics (Shanghai) Co., Ltd. (a non-public
Past Positions company)
Country Manager, GE Capital Taiwan - Delta Networks, Inc. (a non-public company)
Vice Chairman and CEO, Delta Electronics, Inc. (2004-2012) - Delta Electronics Capital Company (a non-public
Chair, Strategic Steering Committee, Delta (2012-2021) company)
- Cyntec Co., Ltd. (a non-public company)
Current Positions at Non-profit Organizations Independent Director, Audit Committee member, ESG
Senior Strategy Consultant, Cloud Computing & IoT Association in Taiwan Committee member and Convener of Remuneration
Director, Taiwan Business Council for Sustainable Development Committee, USI Corporation
Director, Delta Electronic Foundation Director and Commissioner of ESG & Net Zero
Supervisor, Felix Chang Foundation Committee, CTCI Corporation
Director and Finance Committee Member, Chiang Ching-Kuo Foundation for International Scholarly Exchange
Chairman, Taiwan Climate Partnership
Independent Director Male U.S. 07/26/2021 07/25/2024 07/26/2021 - - - - - - Selected Education and Professional Qualification Co-Chair of Growth Technical Advisory Board, Applied
L. Rafael Reif 71-75 Ingeniero Eléctrico Degree, Universidad de Carabobo, Valencia, Venezuela Materials, Inc.
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 the
Chinese 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 Fellowship
Foundation (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

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
Ray and Maria Stata Professor of Electrical Engineering and Computer Science, MIT, since 2023
Member of Board of Trustees, Carnegie Endowment for International Peace
Director, Council on Foreign Relations, U.S.
Director, Waverley Street Foundation, U.S.
Member, Board of Trustees, Instituto Tecnológico de Monterrey, Mexico
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 3: Mr. Ming-Hsin Kung was appointed as the representative of National Development Fund on July 24, 2020.
Note 2: Major Shareholders of the Institutional Shareholder
Institutional Shareholder Major Shareholders (Top 10 Shareholders) of the Institutional Shareholder
National Development Fund, Executive Yuan Not Applicable

028 029
 2.4.2 Remuneration of Directors and Independent Directors (Note 1)
Unit: NT$
Compensation to a Director Who is an Employee of TSMC or
Director’s Remuneration
Amount and Ratio of of TSMC’s Consolidated Entities Amount and Ratio of Total
Severance Pay and Compensation to Total A, B, C and D to Base Compensation, A, B, C, D, E, F and G to Net Compensation
Net Income Severance Pay and Income (Note 5) to Directors from
Base Compensation (A) Pensions (B) Directors (C) Allowances (D) (Note 4) Bonuses, and Allowances (E) Profit Sharing (G)
Title/Name Pensions (F) (Note 2) Non-consolidated
(Note 2) (Note 3) (Note 4)
Affiliates or Parent
From All From All From All From All From All From All From All From TSMC From All Consolidated Entities From All Company
From TSMC Consolidated From TSMC Consolidated From TSMC Consolidated From TSMC Consolidated From TSMC Consolidated From TSMC Consolidated From TSMC Consolidated Stock (Fair Stock (Fair From TSMC Consolidated
Entities Entities Entities Entities Entities Entities Entities Cash Market Cash Market Entities
Value) Value)
Chairman 80,605,415 80,605,415 278,299 278,299 438,652,560 438,652,560 1,417,464 1,417,464 520,953,738 520,953,738 - - - - - - - - 520,953,738 520,953,738 -
Mark Liu 0.0621% 0.0621% 0.0621% 0.0621%
Vice Chairman - - - - - - - - - - 328,137,656 328,137,656 278,299 278,299 219,326,280 - 219,326,280 - 547,742,235 547,742,235 -
C.C. Wei 0.0653% 0.0653%
Director - - - - 10,560,000 10,560,000 1,221,743 1,221,743 11,781,743 11,781,743 - - - - - - - - 11,781,743 11,781,743 19,450,666
F.C. Tseng 0.0014% 0.0014% 0.0014% 0.0014%
Director - - - - 10,560,000 10,560,000 - - 10,560,000 10,560,000 - - - - - - - - 10,560,000 10,560,000 -
National Development Fund, Executive 0.0013% 0.0013% 0.0013% 0.0013%
Yuan
Representative: Ming-Hsin Kung
Independent Director - - - - 16,445,264 16,445,264 - - 16,445,264 16,445,264 - - - - - - - - 16,445,264 16,445,264 -
Sir Peter L. Bonfield 0.0020% 0.0020% 0.0020% 0.0020%
Independent Director - - - - 13,200,000 13,200,000 - - 13,200,000 13,200,000 - - - - - - - - 13,200,000 13,200,000 -
Kok-Choo Chen 0.0016% 0.0016% 0.0016% 0.0016%
Independent Director - - - - 16,445,264 16,445,264 - - 16,445,264 16,445,264 - - - - - - - - 16,445,264 16,445,264 -
Michael R. Splinter 0.0020% 0.0020% 0.0020% 0.0020%
Independent Director - - - - 16,445,264 16,445,264 - - 16,445,264 16,445,264 - - - - - - - - 16,445,264 16,445,264 -
Moshe N. Gavrielov 0.0020% 0.0020% 0.0020% 0.0020%
Independent Director - - - - 13,200,000 13,200,000 - - 13,200,000 13,200,000 - - - - - - - - 13,200,000 13,200,000 -
Yancey Hai 0.0016% 0.0016% 0.0016% 0.0016%
Independent Director - - - - 16,445,264 16,445,264 - - 16,445,264 16,445,264 - - - - - - - - 16,445,264 16,445,264 -
L. Rafael Reif 0.0020% 0.0020% 0.0020% 0.0020%
Total 80,605,415 80,605,415 278,299 278,299 551,953,616 551,953,616 2,639,207 2,639,207 635,476,537 635,476,537 328,137,656 328,137,656 278,299 278,299 219,326,280 - 219,326,280 - 1,183,218,772 1,183,218,772 19,450,666
0.0758% 0.0758% 0.1411% 0.1411%
*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 2023 financial statements: Dr. F.C. Tseng for NT$17,783,760.

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 the

services 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 to receive

compensation to directors. According to TSMC’s Compensation and People Development Committee Charter, the distribution of compensation to directors shall be made in accordance with TSMC’s “Rules for
Distribution of Compensation 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 and Risk Committee and the Compensation and People Development
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 compensation of directors was expensed based on the estimated payment amounts. If the actual amounts subsequently paid differ from the above estimated amounts, the differences will be recorded in the
year fully paid as a change in accounting estimate.
Note 4: T he above-mentioned figures include expenses for Company cars and related reimbursements, but do not include compensation of Company drivers (totaled NT$5,034,409).
Note 5: T otal remuneration of the directors from TSMC and from all consolidated entities in 2022, including their employee compensation, both accounted for 0.1365% of 2022 net income.

030 031
 2.5 Management Team

2.5.1 Information Regarding Management Team

As of 02/29/2024
Shares Held by Spouse Shares Held in the Name Managers Who Are Spouses or within Second-degree
Shares Held
Title On-board Date & Minors of Others Selected Current Positions at Other Relative of Consanguinity to Each Other (Note 3)
Gender Nationality Education and Selected Past Positions
Name (Note 1) Shares Shares Shares Companies
% % % Title Name Relation
(Note 2) (Note 2) (Note 2)
Chief Executive Officer Male R.O.C. 02/01/1998 6,392,834 0.02% 700,261 0.00% - - Ph.D., Electrical Engineering, Yale University, U.S. None None None None
C.C. Wei 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.
Senior Vice President Female R.O.C. 06/01/1999 4,414,753 0.02% 2,059,530 0.01% - - Master, Business Administration, National Taiwan University, Taiwan Director and/or Supervisor, TSMC subsidiaries None None None
Human Resources Senior Vice President, Europe and Asia Sales, TSMC
Lora Ho Senior Vice President, Chief Financial Officer/Spokesperson, TSMC
Senior Director, Accounting, TSMC
Vice President & CFO, TI-Acer Semiconductor Manufacturing Corp.
Senior Vice President Male R.O.C. 07/01/2004 1,457,328 0.01% - - - - Ph.D., Solid State Physics and Surface Chemistry, University of California, Berkeley, U.S. None None None None
Research and Development Vice President, Technology Development, TSMC
Wei-Jen Lo 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.
Senior Vice President Male U.S. 11/14/1997 - - - - - - Bachelor, Engineering Technology, United States Military Academy at West Point, U.S. Director, TSMC subsidiary None None None
Corporate Strategy Office & Overseas Operations Chief Executive Officer, TSMC North America
Office President, TSMC North America
Chairman Vice President, TSMC North America
TSMC AZ
Rick Cassidy
Senior Vice President Male R.O.C. 01/01/1987 4,932,964 0.02% 4,190,107 0.02% - - Master, Electrical Engineering, National Cheng Kung University, Taiwan Director, TSMC subsidiaries None None None
Operations & Overseas Operations Office Senior Vice President, Product Development, TSMC
Y.P. Chyn (Note 4) Vice President, Advanced Technology and Business, TSMC
Senior Vice President Male R.O.C. 11/14/1994 1,016,273 0.00% - - - - Ph.D., Electrical Engineering, University of California, Los Angeles, U.S. None None None None
Research and Development Vice President, Technology Development, TSMC
Y.J. Mii (Note 4) Senior Director, Platform I Division, TSMC
Senior Vice President Male R.O.C. 01/01/1987 12,660,501 0.05% 1,168,961 0.00% - - Bachelor, Science, National Changhua University of Education, Taiwan None None None None
Chief Information Security Officer Vice President, Mainstream Fabs and Manufacturing Technology, TSMC
Information Technology and Materials Management Senior Director, Mainstream Fabs, TSMC
& Risk Management
J.K. Lin
Senior Vice President Male R.O.C. 12/15/1997 435,570 0.00% 60,802 0.00% - - Ph.D., Electrical Engineering, Syracuse University, U.S. Director and/or President, TSMC subsidiaries None None None
Europe & Asia Sales and Research & Development/ Senior Vice President, Technology Development, TSMC Director, TSMC affiliate
Corporate Research Vice President, Design and Technology Platform, TSMC
Cliff Hou (Note 5) Senior Director, Design and Technology Platform, TSMC
Senior Vice President Male U.S. 11/01/2016 115,867 0.00% - - - - Ph.D., Electrical Engineering, Duke University, U.S. None None None None
Business Development & Overseas Operations Office Vice President, Design and Technology Platform, TSMC
Kevin Zhang (Note 5) Vice President, Technology and Manufacturing Group, Intel Corp.
Senior Vice President and General Counsel Female R.O.C. 03/20/1995 707,793 0.00% 67,906 0.00% 384,000 0.00% Master, Comparative Law, School of Law, University of Iowa, U.S. Director and/or Supervisor, TSMC subsidiaries None None None
Corporate Governance Officer Attorney-at-law, Taiwan
Legal Associate General Counsel, TSMC
Sylvia Fang (Note 6) Senior Associate, Taiwan International Patent and Law Office (TIPLO)
Senior Vice President and Chief Financial Officer Male R.O.C. 05/03/1999 1,660,166 0.01% - - - - Master, Business Administration, Cornell University, U.S. Director, Supervisor, and/or President, TSMC None None None
Spokesperson Deputy Chief Financial Officer, TSMC subsidiaries
Finance Senior Director, Finance Division, TSMC Director, TSMC affiliate
Wendell Huang (Note 6) Vice President, Corporate Finance, ING Barings
Vice President, Corporate Finance, Chase Manhattan Bank
Vice President, Corporate Finance, Bankers Trust Company
Vice President Male R.O.C. 06/01/1992 226,043 0.00% 1,135,529 0.00% - - Ph.D., Electrical Engineering, National Chiao Tung University, Taiwan Director, TSMC subsidiary None None None
Operations/Fab Operations I Vice President, Fab Operations, TSMC
CEO Vice President, Technology Development, TSMC
Overseas Operations Office/TSMC AZ Vice President, Fab 14B, TSMC
Y.L. Wang Senior Director, Fab 14B, TSMC
Vice President and TSMC Distinguished Fellow Male R.O.C. 12/28/1994 258,496 0.00% - - - - Ph.D., Materials Engineering, Georgia Institute of Technology, U.S. None None None None
Pathfinding for System Integration Vice President, Integrated Interconnect & Packaging, TSMC
Douglas Yu Senior Director, Integrated Interconnect & Packaging Division, TSMC
Vice President and TSMC Fellow Male R.O.C. 02/06/1995 181,289 0.00% - - - - Ph.D., Electrical Engineering, National Tsing Hua University, Taiwan None None None None
Operations/Advanced Technology and Mask Vice President, Product Development, TSMC
Engineering Vice President, Fab 12B, TSMC
T.S. Chang Senior Director, Fab 12B, TSMC

(Continued)

032 033
 Shares Held by Spouse Shares Held in the Name Managers Who Are Spouses or within Second-degree
Shares Held
Title On-board Date & Minors of Others Selected Current Positions at Other Relative of Consanguinity to Each Other (Note 3)
Gender Nationality Education and Selected Past Positions
Name (Note 1) Shares Shares Shares Companies
% % % Title Name Relation
(Note 2) (Note 2) (Note 2)
Vice President Male R.O.C. 12/09/1996 493,404 0.00% 198,943 0.00% - - Ph.D., Electrical Engineering, University of Wisconsin-Madison, U.S. None None None None
Research and Development/Platform Technology Senior Director, Platform Development, TSMC
Michael Wu
Vice President Male U.S. 07/29/2002 371,055 0.00% 34,470 0.00% - - Ph.D., Physics, Stanford University, U.S. None None None None
Research and Development/Pathfinding Senior Director, Pathfinding Division, TSMC
Min Cao
Vice President Male R.O.C. 08/03/1988 375,532 0.00% - - 430,000 0.00% Master, Chemical Engineering, National Tsing Hua University, Taiwan Director, TSMC subsidiaries None None None
Operations/Fab Operations II Vice President, Fab Operations, TSMC Director, TSMC affiliate
CEO Vice President, Fab 15B, TSMC
Overseas Operations Office/JASM Senior Director, Fab 15B, TSMC
Y.H. Liaw
Vice President Male R.O.C. 09/01/1993 356,832 0.00% 1,250 0.00% - - Ph.D., Materials Science & Engineering, Massachusetts Institute of Technology, U.S. None Deputy Director Sharon Jang sister
Research and Development/Advanced Tool and Senior Director, Advanced Tool and Module Development Division, TSMC
Module Development
Simon Jang
Vice President Male R.O.C. 06/16/1988 1,709,617 0.01% 219,924 0.00% 851,908 0.00% Ph.D., Chemical Engineering, Worcester Polytech. Institute, U.S. None None None None
Research and Development/More than Moore Vice President, Europe & Asia Sales, TSMC
Technologies Senior Director, Office of Strategy Customer Program, TSMC
C.S. Yoo Senior Director, E-Beam Operation Division, TSMC
Vice President Male R.O.C. 05/22/2017 33,310 0.00% - - - - Ph.D., Materials Science and Engineering, University of California, Santa Barbara, U.S. Director, TSMC subsidiaries None None None
Quality and Reliability and Operations/Advanced Senior Director, Quality and Reliability, TSMC
Packaging Technology and Service Senior Director, Head of Quality and Reliability for Technology & Manufacturing Group,
Jun He Intel Corp.
Vice President Male U.S. 03/21/2016 72,532 0.00% - - - - Ph.D., Electrical and Computer Engineering, University of Texas-Austin, U.S. None None None None
Research and Development/Platform Technology Senior Director, Platform Development, TSMC
Geoffrey Yeap Senior Director, Advanced Technology, TSMC
Vice President, Engineering, Silicon Technology, Qualcomm
Vice President and Chief Information Officer Male U.S. 01/04/2021 41,137 0.00% 10,000 0.00% - - Ph.D., Electrical Engineering and Computer Science, University of California, Berkeley, U.S. None None None None
Information Technology and Materials Management Vice President, Information Technology, Mozilla
& Risk Management/Corporate Information Director, Enterprise Platform Infrastructure, Facebook
Technology
Chris Horng-Dar Lin
Vice President Male R.O.C. 05/28/2007 395,044 0.00% 6,000 0.00% - - Master, Business Administration, City University of New York, Baruch College, U.S. None None None None
Corporate Planning Organization Senior Director, Strategic Planning Division, TSMC
Jonathan Lee
Vice President Male R.O.C. 01/17/1989 2,608,118 0.01% 1,993,040 0.01% - - Ph.D., Civil Engineering, National Taiwan University, Taiwan None None None None
Operations/Facility Senior Director, Facility Division, TSMC
Arthur Chuang
Vice President and TSMC Fellow Male R.O.C. 08/01/2000 180,957 0.00% 15,000 0.00% - - Ph.D., Computer Science, Yale University, U.S. None None None None
Research and Development/Design & Technology Senior Director, Digital IPs Solution Division, TSMC
Platform
L.C. Lu
Vice President Male R.O.C. 11/01/2021 90,927 0.00% - - - - Master, Technology Management, National Chiao Tung University, Taiwan None None None None
Research and Development/Integrated Interconnect Taiwan Country Manager, Micron Technology Inc.
& Packaging President, WaferTech LLC
K.C. Hsu
Vice President Male R.O.C. 12/15/1997 180,318 0.00% 105,000 0.00% - - Master, Materials Science & Engineering/Engineering Economics System, Stanford None None None None
Operations/Fab Operations I University, U.S.
CEO Senior Director, Fab 18A, TSMC
Overseas Operations Office/ESMC Director, Fab 12B, TSMC
Ray Chuang (Note 7)

Note 1: On-board date means the official date joining TSMC.

Note 2: Dose not include shares held in the form of ADSs.
Note 3: 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 4: Mr. Y.P. Chyn and Dr. Y.J. Mii were appointed as Executive Vice Presidents and Co-Chief Operating Officers, effective March 1, 2024.
Note 5: Dr. Cliff Hou and Dr. Kevin Zhang were appointed as Senior Vice Presidents and Deputy Co-Chief Operating Officers, effective March 1, 2024.
Note 6: Ms. Sylvia Fang and Mr. Wendell Huang were promoted to Senior Vice Presidents, effective February 6, 2024.
Note 7: Mr. Ray Chuang was promoted to Vice President, effective May 9, 2023.

034 035
 2.5.2 Compensation of CEO and Vice Presidents (Note 1)
Unit: NT$
Severance Pay and Pensions (B) Bonuses and Allowances (C) Amount and Ratio of Total A, B, C
Salary (A) Profit Sharing (D)
(Note 5) (Note 6) and D to Net Income (Note 7) Compensation from
Non-consolidated
Title Name From All From All From All From TSMC From All Consolidated Entities From All Affiliates or Parent
From TSMC Consolidated From TSMC Consolidated From TSMC Consolidated Stock (Fair Stock (Fair From TSMC Consolidated Company
Entities Entities Entities Cash Cash Entities
Market Value) Market Value)
Chief Executive Officer C.C. Wei 14,962,410 14,962,410 278,299 278,299 313,175,246 313,175,246 219,326,280 - 219,326,280 - 547,742,235 547,742,235 -
0.0653% 0.0653%
Senior Vice President, Chief Financial Officer/Spokesperson Wendell Huang 5,995,500 5,995,500 111,517 111,517 57,211,091 57,211,091 40,179,742 - 40,179,742 - 103,497,850 103,497,850 -
0.0123% 0.0123%
Senior Vice President Lora Ho
Senior Vice President Wei-Jen Lo
Senior Vice President/Chairman, TSMC Arizona Rick Cassidy
Senior Vice President Y.P. Chyn (Note 2)
Senior Vice President Y.J. Mii (Note 2)
Senior Vice President/Chief Information Security Officer J.K. Lin
Senior Vice President Cliff Hou (Note 3)
Senior Vice President Kevin Zhang (Note 3)
Senior Vice President and General Counsel/Corporate Governance Sylvia Fang
Officer
Vice President Y.L. Wang
Vice President and TSMC Distinguished Fellow Douglas Yu
Vice President and TSMC Fellow T.S. Chang
2,508,321,960 2,730,185,119
136,548,315 162,258,591 2,539,793 3,202,056 1,388,757,585 1,584,248,205 980,476,267 - 980,476,267 - -
Vice President Michael Wu 0.2991% 0.3256%
Vice President Min Cao
Vice President Y.H. Liaw
Vice President Simon Jang
Vice President C.S. Yoo
Vice President Jun He
Vice President Geoffrey Yeap
Vice President and Chief Information Officer Chris Horng-Dar Lin
Vice President Jonathan Lee
Vice President Arthur Chuang
Vice President and TSMC Fellow L.C. Lu
Vice President K.C. Hsu
Vice President Ray Chuang (Note 4)
Total 157,506,225 183,216,501 2,929,609 3,591,872 1,759,143,922 1,954,634,542 1,239,982,289 - 1,239,982,289 - 3,159,562,045 3,381,425,204 -
0.3768% 0.4033%

Note 1: C ompensation policy, standards/packages, procedures, the linkage to operating performance and future risk exposure: The total compensation of 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 and People Development Committee then submitted to the Board of Directors for
approval.
Note 2: Mr. Y.P. Chyn and Dr. Y.J. Mii were appointed as Executive Vice Presidents and Co-Chief Operating Officers, effective March 1, 2024.
Note 3: Dr. Cliff Hou and Dr. Kevin Zhang were appointed as Senior Vice Presidents and Deputy Co-Chief Operating Officers, effective March 1, 2024.
Note 4: Mr. Ray Chuang was promoted to Vice President, effective May 9, 2023. These amounts did not include compensation for the period before his promotion.
Note 5: Pensions funded according to applicable law.
Note 6: The above-mentioned figures include the expense for the business performance bonuses distributed in May, August, November 2023 & February 2024, and Company cars and gasoline reimbursements.
Note 7: T otal compensation of the executive officers from TSMC in 2022 accounted for 0.3700% of 2022 net income. Total compensation of the executive officers from all consolidated entities in 2022 accounted for
0.3846% of 2022 net income.

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 The Company’s Policy, Standards/Packages, Procedures for the Compensation of the CEO and Vice Presidents, and the Compensation of CEO and Vice Presidents
Linkage to Their Performance Evaluation and the Future Risk Exposure 2023
From TSMC From All Consolidated Entities and Non-consolidated Affiliates
The Company’s Policy, Standards/Packages
● 
NT$0 ~ NT$999,999 Rick Cassidy None
The compensation of the CEO and Vice Presidents takes into account, in a comprehensive manner, aspects of their experience, NT$1,000,000 ~ NT$1,999,999 None None
professional capabilities, managerial skills, and the positions they hold. The said compensation is also closely linked to both NT$2,000,000 ~ NT$3,499,999 None None
the financial and non-financial performance goals, so as to reflect the fulfillment of their responsibilities as well as their work NT$3,500,000 ~ NT$4,999,999 None None

performance. Compensation includes salary, quarterly paid cash bonus, allowances, and profit sharing based on annual profits of NT$5,000,000 ~ NT$9,999,999 None None
NT$10,000,000 ~ NT$14,999,999 None None
the Company. Moreover, since 2021, TSMC has begun to offer Employee Restricted Stock Awards to link their compensation with
NT$15,000,000 ~ NT$29,999,999 None None
shareholders’ interests and ESG achievements. The company places a greater emphasis on variable compensation constituting a
NT$30,000,000 ~ NT$49,999,999 Ray Chuang Ray Chuang
larger proportion of the total compensation versus fixed compensation, and prioritizes long-term incentive rewards to better align
NT$50,000,000 ~ NT$99,999,999 Sylvia Fang, Y.L. Wang, T.S. Chang, Michael Wu, Min Cao, Y.H. Liaw, Simon Sylvia Fang, Y.L. Wang, T.S. Chang, Michael Wu, Min Cao, Y.H. Liaw, Simon
the compensation of our CEO and executives with the company’s sustainable business performance, shareholder interests, and ESG Jang, C.S. Yoo, Jun He, Geoffrey Yeap, Chris Horng-Dar Lin, Jonathan Lee, Jang, C.S. Yoo, Jun He, Geoffrey Yeap, Chris Horng-Dar Lin, Jonathan Lee,
Arthur Chuang, L.C. Lu, K.C. Hsu Arthur Chuang, L.C. Lu, K.C. Hsu
achievements. The Compensation and People Development Committee approves the compensation plan regularly, which is then
Over NT$100,000,000 C.C. Wei, Wendell Huang, Lora Ho, Wei-Jen Lo, Y.P. Chyn, Y.J. Mii, J.K. Lin, C.C. Wei, Wendell Huang, Lora Ho, Wei-Jen Lo, Rick Cassidy, Y.P. Chyn, Y.J.
submitted to the Board of Directors for approval. Cliff Hou, Kevin Zhang, Douglas Yu Mii, J.K. Lin, Cliff Hou, Kevin Zhang, Douglas Yu
Total 27 27
The Procedures
● 

Quarterly cash bonuses and profit-sharing are for the purpose of rewarding employee contributions, incentivizing employees to
2.5.3 Employees’ Profit Sharing of Management Team
continue to work hard, and aligning employee interests with those of TSMC’s shareholders. According to Articles of Incorporation,
Unit: NT$
if the Company is profitable for the year, at least 1% of the profits will be allocated as employee compensation. The frequency,
Total Profit
date, and conditions of the distribution of employee compensation will be determined according to the Company’s bonus policy. Stock Sharing of
Title Name Cash Total Management
The Company further determines the bonus and profit-sharing amounts based on operating results and common domestic industry (Fair Market Value) Team as a % of Net
Income
practice. The amount and distribution of the employee bonuses are recommended by the Compensation and People Development
Chief Executive Officer C.C. Wei - 219,326,280 219,326,280 0.0262%
Committee to the Board of Directors for approval. Cash bonuses are paid quarterly, and profit sharing are paid after approval at the
Senior Vice President, Chief Financial Officer/Spokesperson Wendell Huang - 40,179,742 40,179,742 0.0048%
Board of Directors meeting and having reported the same at the Shareholders’ meeting.
Senior Vice President Lora Ho
Senior Vice President Wei-Jen Lo
TSMC established Employee Restricted Stock Awards to link the compensation for CEO and Vice Presidents with ESG achievements
Senior Vice President/Chairman, TSMC Arizona Rick Cassidy
and the interests of shareholders. The number of shares granted to the CEO and Vice Presidents will be determined by the Chairman
Senior Vice President Y.P. Chyn (Note 1)
and CEO by taking into account the Company’s business performance, the individual’s job grade, performance, and other factors
Senior Vice President Y.J. Mii (Note 1)
as deemed appropriate and approved by Compensation and People Development Committee, and ultimately subject to Board of
Senior Vice President/Chief Information Security Officer J.K. Lin
Directors’ approval. Senior Vice President Cliff Hou (Note 2)
Senior Vice President Kevin Zhang (Note 2)
The Linkage to the Performance Evaluation
● 
Senior Vice President and General Counsel/Corporate Governance Sylvia Fang
The compensation of TSMC’s CEO and Vice Presidents is governed by the Company’s bonus policy, which covers the achievement Officer

of both corporate operational goals and personal annual objectives. Corporate goals include financial indicators and non-financial Vice President Y.L. Wang

indicators. Personal annual objectives include operational goals and ESG achievements in focus areas: Drive Green Manufacturing, Vice President and TSMC Distinguished Fellow Douglas Yu
Vice President and TSMC Fellow T.S. Chang
Build a Sustainable Supply Chain, Create a Diverse and Inclusive Workplace, Develop Talent, and Care for the Disadvantaged. The
- 980,476,267 980,476,267 0.1169%
Vice President Michael Wu
Employee Restricted Stock Awards provided has a vesting period of three years (for details, please refer to “4.6.1 Status of Employee
Vice President Min Cao
Restricted Stock” on page 86-91 of this Annual Report). The corporate performance indicators are the relative total shareholder
Vice President Y.H. Liaw
return (TSR) of the company compared to TSR of the S&P 500 IT Index TSR, with the company’s ESG achievements as a modifier.
Vice President Simon Jang
Through these two clear quantitative indicators, we strengthen management’s long-term and continuous creation of shareholder
Vice President C.S. Yoo
value while improving ESG performance, which shows a strong correlation with the Company’s overall performance.
Vice President Jun He
Vice President Geoffrey Yeap
The Future Risk Exposure
● 
Vice President and Chief Information Officer Chris Horng-Dar Lin
The compensation of TSMC’s CEO and Vice Presidents is based on the relevant industry benchmarks and the performance of the Vice President Jonathan Lee
Company. The standards, structure, and system of compensation are reviewed and adjusted as necessary in response to changes Vice President Arthur Chuang
in the Company’s actual operating conditions and relevant laws and regulations. The Company does not create financial incentive Vice President and TSMC Fellow L.C. Lu
programs that may lead executives to pursue remuneration at the expense of exceeding the Company’s risk tolerance level, so as to Vice President K.C. Hsu
ensure a balance between sustainable business operations and risk control. Vice President Ray Chuang (Note 3)
Total - 1,239,982,289 1,239,982,289 0.1479%
Clawback Policy
● 
Note 1: Mr. Y.P. Chyn and Dr. Y.J. Mii were appointed as Executive Vice Presidents and Co-Chief Operating Officers, effective March 1, 2024.
TSMC established the Clawback policy in 2023. (Disclosed on tsmc.com/Home/Investors/Corporate Governance/Major Internal Note 2: Dr. Cliff Hou and Dr. Kevin Zhang were appointed as Senior Vice Presidents and Deputy Co-Chief Operating Officers, effective March 1, 2024.
Note 3: Mr. Ray Chuang was promoted to Vice President, effective May 9, 2023. These amounts did not include compensation for the period before his promotion.
Policies/TSMC Clawback Policy)

038 039