UNITED MICROELECTRONICS CORPORATION

Condensed Unconsolidated Balance Sheet

As of December 31, 2011

Figures in Millions of New Taiwan Dollars (NT$) and U.S. Dollars (US$)

December  31, 2011

US$

NT$

%

ASSETS

Current Assets

Cash and Cash Equivalents

1,019

30,829

11.9%

Financial Assets at Fair Value through Profit or Loss, current

23

696

0.3%

Available-for-Sale Financial Assets, current

169

5,125

2.0%

Notes & Accounts Receivable, net

413

12,502

4.8%

Inventories, net

346

10,479

4.1%

Other Current Assets

38

1,134

0.4%

   Total Current Assets

2,008

60,765

23.5%

Non-Current Assets

Funds and Investments

1,985

60,076

23.2%

Property, Plant and Equipment, net

4,328

130,951

50.7%

Other Assets

221

6,701

2.6%

   Total Non-Current Assets

6,534

197,728

76.5%

TOTAL ASSETS

8,542

258,493

100.0%

LIABILITIES

Current Liabilities

Short-term Loans

150

4,547

1.8%

Financial Liabilities at Fair Value through Profit or Loss, current

25

742

0.3%

Payables

665

20,123

7.8%

Current Portion of Long-term Liabilities

194

5,881

2.3%

Other Current Liabilities

15

456

0.1%

   Total Current Liabilities

1,049

31,749

12.3%

Non-Current Liabilities

Bonds Payable

396

11,984

4.6%

Long-term Loans

106

3,219

1.2%

Other Liabilities

120

3,604

1.5%

   Total Non-Current Liabilities

622

18,807

7.3%

TOTAL LIABILITIES

1,671

50,556

19.6%

STOCKHOLDERS' EQUITY

Capital Stock

4,324

130,845

50.6%

Additional Paid-in Capital

1,535

46,461

18.0%

Retained Earnings, Unrealized Gain or Loss on Financial
    Instruments and Cumulative Translation Adjustment

1,218

36,854

14.2%

Treasury Stock

(206)

(6,223)

(2.4%)

TOTAL STOCKHOLDERS' EQUITY

6,871

207,937

80.4%

TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY

8,542

258,493

100.0%

UNITED MICROELECTRONICS CORPORATION

Condensed Unconsolidated Income Statement

Figures in Millions of New Taiwan Dollars (NT$) and U.S. Dollars (US$)

Except Per Share and Per ADS Data

Year over Year Comparison

Quarter over Quarter Comparison

Three-Month Period Ended

Three-Month Period Ended

December 31, 2011

December 31, 2010

%

December 31, 2011

September 30, 2011

%

US$

NT$

US$

NT$

Chg.

US$

NT$

US$

NT$

Chg.

Net Sales

807

24,425

1,035

31,319

(22.0%)

807

24,425

832

25,187

(3.0%)

Cost of Goods Sold

(657)

(19,875)

(703)

(21,267)

(6.5%)

(657)

(19,875)

(667)

(20,203)

(1.6%)

Net Gross Profit

150

4,550

332

10,052

(54.7%)

150

4,550

165

4,984

(8.7%)

18.6%

18.6%

32.1%

32.1%

18.6%

18.6%

19.8%

19.8%

Operating Expenses

 - Sales & Marketing

(27)

(822)

(16)

(486)

69.1%

(27)

(822)

(18)

(535)

53.6%

 - General & Administrative

(20)

(601)

(24)

(732)

(17.9%)

(20)

(601)

(21)

(630)

(4.6%)

 - Research & Development

(75)

(2,287)

(74)

(2,234)

2.4%

(75)

(2,287)

(75)

(2,284)

0.1%

(122)

(3,710)

(114)

(3,452)

7.5%

(122)

(3,710)

(114)

(3,449)

7.6%

Operating Income

28

840

218

6,600

(87.3%)

28

840

51

1,535

(45.3%)

3.4%

3.4%

21.1%

21.1%

3.4%

3.4%

6.1%

6.1%

Net Non-Operating Income

11

349

14

426

(18.1%)

11

349

14

445

(21.6%)

Income from Continuing Operations before Income Tax

39

1,189

232

7,026

(83.1%)

39

1,189

65

1,980

(39.9%)

4.9%

4.9%

22.4%

22.4%

4.9%

4.9%

7.9%

7.9%

Income Tax Expense

(0)

(9)

(20)

(602)

(98.5%)

(0)

(9)

(0)

(26)

(65.4%)

Net Income

39

1,180

212

6,424

(81.6%)

39

1,180

65

1,954

(39.6%)

4.8%

4.8%

20.5%

20.5%

4.8%

4.8%

7.8%

7.8%

Earnings per Share

0.003

0.09

0.017

0.52

0.003

0.09

0.005

0.16

Earnings per AD S(2)

0.015

0.45

0.086

2.60

0.015

0.45

0.026

0.80

Weighted Average Number of Shares

  Outstanding (in millions)

12,609

12,451

12,609

12,606

Note:

(1) New Taiwan Dollars have been translated into U.S. Dollars at the December 31, 2011 exchange rate of NT $ 30.26 per U.S. Dollar. All figures are in ROC GAAP.

(2) 1 ADS equals 5 common shares.

UNITED MICROELECTRONICS CORPORATION

Condensed Unconsolidated Income Statement

Figures in Millions of New Taiwan Dollars (NT$) and U.S. Dollars (US$)

Except Per Share and Per ADS Data

For the Three-Month Period Ended

For the Twelve-Month Period Ended

December 31, 2011

December 31, 2011

US$

NT$

%

US$

NT$

%

Net Sales

807

24,425

100.0%

3,499

105,880

100.0%

Cost of Goods Sold

(657)

(19,875)

(81.4%)

(2,706)

(81,885)

(77.3%)

Net Gross Profit

150

4,550

18.6%

793

23,995

22.7%

Operating Expenses

 - Sales & Marketing

(27)

(822)

(3.4%)

(79)

(2,394)

(2.3%)

 - General & Administrative

(20)

(601)

(2.4%)

(82)

(2,487)

(2.3%)

 - Research & Development

(75)

(2,287)

(9.4%)

(297)

(8,976)

(8.5%)

(122)

(3,710)

(15.2%)

(458)

(13,857)

(13.1%)

Operating Income

28

840

3.4%

335

10,138

9.6%

Net Non-Operating Income

11

349

1.5%

47

1,428

1.3%

Income from Continuing Operations before
   Income Tax

39

1,189

4.9%

382

11,566

10.9%

Income Tax Expense

(0)

(9)

(0.1%)

(25)

(756)

(0.7%)

Net Income

39

1,180

4.8%

357

10,810

10.2%

Earnings per Share

0.003

0.09

0.028

0.86

Earnings per AD S(2)

0.015

0.45

0.142

4.30

Weighted Average Number of Shares
    Outstanding (in millions)

12,609

12,561

Note:

(1) New Taiwan Dollars have been translated into U.S. Dollars at the Dece mber 31, 2011 exchange rate of NT $ 30.26 per U.S. Dollar.

    All figures are in ROC GAAP.

(2) 1 ADS equals 5 common shares.

UNITED MICROELECTRONICS CORPORATION

Condensed Unconsolidated Statement of Cash Flows

For The Twelve-Month Period Ended December 31, 2011

Figures in Millions of New Taiwan Dollars (NT$) and U.S. Dollars (US$)

USD

NTD

Cash flows from operating activities :

   Net Income

357

10,810

   Depreciation & Amortization

1,008

30,509

   Bad debt

8

248

   Donation Income

(23)

(692)

   Loss on decline in market value, scrap and obsolescence of inventories

23

687

   Cash dividends received under the equity method

19

585

   Investment loss accounted for under the equity method

105

3,182

   Gain on valuation of financial assets and liabilities

(34)

(1,014)

   Impairment loss

9

283

   Gain on disposal of investments

(7)

(199)

   Gain on disposal of property, plant and equipment

(1)

(30)

   Gain on disposal of non-current assets held for sale

(6)

(193)

   Exchange loss on financial assets and liabilities

3

79

   Exchange loss on long-term liabilities

6

189

   Amortization of bond discounts

10

300

   Gain on reacquisition of bonds

(6)

(167)

   Amortization of deferred income

(3)

(96)

   Stock-based payment

26

794

   Changes in assets, liabilities and others

(0)

(57)

Net cash provided by operating activities

1,494

45,218

Cash flows from investing activities :

   Proceeds from disposal of available-for-sales financial assets

6

174

   Acquisition of financial assets measured at cost

(6)

(196)

   Proceed from sale of financial assets measured at cost

2

52

   Acquisition of long-term investments accounted for under the equity method

(178)

(5,386)

   Proceeds from liquidation of long-term investments

4

111

   Acquisition of property, plant and equipment

(1,533)

(46,400)

   Proceeds from disposal of property, plant and equipment

1

44

   Proceeds from disposal of non-current assets held for sale

19

577

   Increase in deferred charges

(12)

(357)

   Increase in other assets - others

(15)

(433)

Net cash used in investing activities

(1,712)

(51,814)

Cash flows from financing activities :

   Increase in short-term loans

62

1,875

   Proceeds from long-term loans

93

2,800

   Repayments of long-term loans

(13)

(387)

   Acquisition of bonds

(57)

(1,726)

   Proceeds from bonds issued

477

14,423

   Bonds issue cost

(2)

(67)

   Cash dividends

(464)

(14,034)

   Exercise of employee stock options

33

1,004

   Proceeds from disposal of treasury stock

0

15

   Increase in deposits-in

3

80

Net cash provided by financing activities

132

3,983

Effect of exchange rate changes on cash and cash equivalents

16

507

Net increase in cash and cash equivalents

(70)

(2,106)

Cash and cash equivalents at beginning of period

1,089

32,935

Cash and cash equivalents at end of period

1,019

30,829

Note: New Taiwan Dollars have been translated into U.S. Dollars at the December 31, 2011 exchange rate of NT $ 30.26 per U.S. Dollar. All figures are in ROC GAAP.