TSMC is jointly investing in European Semiconductor Manufacturing Company (ESMC) to build a specialty technology fab in Dresden, Germany. ESMC aims to begin construction of the fab in the second half of 2024 with production targeted to begin by the end of 2027. TSMC continues to execute its plan to construct and operate three fabs in Arizona, the United States. The first fab is on track to start production leveraging 4nm technology in the beginning of 2025. The second fab is scheduled to start production in 2028, and the third fab by the end of the decade. The Company is also majority owner of Japan Advanced Semiconductor Manufacturing (JASM) a manufacturing subsidiary in Kumamoto, Japan. JASM’s first fab is scheduled to begin production in 2024, and it is also planning to build a second fab, which is scheduled to begin operation by the end of 2027.