<p>➀ TSMC's CoWoS capacity will double in 2024 and 2025, but demand will continue to exceed supply;</p><p>➁ The CoWoS expansion wave is expected to extend into 2026, benefiting equipment suppliers for the next two to three years;</p><p>➂ Advanced packaging currently accounts for 7-9% of TSMC's revenue, with expected growth to outpace the company's average over the next five years;</p><p>➃ TSMC's CoWoS monthly production capacity is expected to reach 35,000 to 40,000 wafers this year, and surge to 80,000 wafers per month next year;</p><p>➄ Strong demand from major AI customers is driving capacity needs, potentially reaching 140,000 to 150,000 wafers per month by 2026.</p>