TAIWAN SEMICONDUCTOR MANUFACTURING CO LTD

This annual report includes statements that are, or may be deemed to be, “forward-looking statements” within the

meaning of U.S. securities laws. Such statements are made under the “safe harbor” provision under Section 21E of the

Securities Exchange Act of 1934, as amended (the “Exchange Act”). The terms “anticipates,” “expects,” “may,” “will,”

“could,” “should” and other similar expressions identify forward-looking statements. These statements appear in a number

of places throughout this annual report and include statements regarding our intentions, beliefs or current expectations

concerning, among other things, our results of operations, financial condition, liquidity, prospects, growth, strategies and

the industries in which we operate.

By their nature, forward-looking statements involve risks and uncertainties because they relate to events and depend

on circumstances that may or may not occur in the future. Forward-looking statements are not guarantees of future

performance and our actual results of operations, financial condition and liquidity, and the development of the industries in

which we operate may differ materially from those made in or suggested by the forward-looking statements contained in

this annual report. Important factors that could cause those differences include, but are not limited to:

•general local and global economic conditions, including impacts caused by geopolitical tensions;

•the political stability of our local region;

•our ability to deal with the challenges and risks related to our global operations and expansion;

•outlook of the major and emerging end markets for our products, such as high performance computing

(“HPC”), smartphones, internet of things (“IoT”), automotive and digital consumer electronics;

•the volatility of the semiconductor and electronics industry;

•our ability to develop new technologies successfully and remain a technological leader;

•the increased competition from other companies;

•overcapacity in the semiconductor industry;

•our reliance on certain major customers;

•the reliability of our information technology systems and resilience to any cyberattacks;

•our ability to maintain control over expansion and facility modifications;

•our ability to generate growth and profitability;

•our ability to hire and retain qualified personnel;

•our ability to acquire required equipment and supplies necessary to meet business needs;

•our ability to protect our technologies, intellectual property (“IP”) rights and third-party licenses;

•disruptive events or industrial accidents;

•shortages or increased prices of power and other utilities; and

•fluctuations in foreign currency rates, in particular, any material appreciation of the NT dollar against the U.S.

dollar, and our ability to manage such risks.

Forward-looking statements include, but are not limited to, statements regarding our strategy and future plans, future

business condition and financial results, our capital expenditure plans, our capacity management plans, expectations as to

the commercial production using 16-angstrom and more advanced technologies, technological upgrades, investment in

research and development, future market demand, future regulatory or other developments in our industry, business

expansion plans or new investments as well as business acquisitions and financing plans. If any one or more of the

assumptions underlying the industry or market data turns out to be incorrect, actual results may differ from the projections

based on these assumptions. You should not place undue reliance on these forward-looking statements. Please see “Item 3.

Key Information – Risk Factors” for a further discussion of certain factors that may cause actual results to differ materially

from those indicated by our forward-looking statements.

As used in this annual report, all references to “we,” “us,” the “Company” and “TSMC” are to Taiwan

Semiconductor Manufacturing Company Limited and its consolidated subsidiaries, while “R.O.C.” and “Taiwan” are

references to the Republic of China.

EXCHANGE RATES

We publish our financial statements in New Taiwan dollars, the lawful currency of the R.O.C. In this annual report,

“$,” “US$” and “U.S. dollars” mean United States dollars, the lawful currency of the United States, and “NT$” and “NT

dollars” mean New Taiwan dollars. This annual report contains translations of certain NT dollar amounts into U.S. dollars

at specified rates solely for the convenience of the reader. Unless otherwise noted, all translations from NT dollars to U.S.

dollars in this annual report were made at NT$31.37 to US$1.00, the exchange rate set forth in the H.10 statistical release

of the Federal Reserve Board on December 31, 2025.

No representation is made that the NT dollar or U.S. dollar amounts referred to herein could have been or could be

converted into U.S. dollars or NT dollars, as the case may be, at any particular rate or at all.