External broker reports(aggregated public sources), Daishin Securities

Daishin Securities

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External broker reports(aggregated public sources)

Equity Bottom-Up

<ul><li>Large-scale Foundry deal signed; concerns over competitiveness start fading</li><li>Memory semiconductor margin also slated to improve in 2H25</li><li>TP raised to W88,000, considering potential upside to business competitiveness</li></ul><p><em>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.</em></p>

Large-scale Foundry deal signed; concerns over competitiveness start fadingMemory semiconductor margin also slated to improve in 2H25TP raised to W88,000, considering potential upside to business competitivenessContent is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Samsung Electronics (005930 KS Jul 29, 2025) - Still Our Top Pick