AU Optronics Corp.
First Quarter 2011 Results Investor Conference


2011

April 27, 2011

AUO Proprietary and Confidential



                               Safe Harbor Notice

[]  The statements included in this presentation that are not historical in
    nature are "forward-looking statements" within the meaning of Section 27A of
    the United States Securities Act of 1933 and Section 21E of the United
    States Securities Exchange Act of 1934. These forward-looking statements,
    which may include statements regarding AU Optronics' future results of
    operations, financial condition or business prospects, are subject to
    significant risks and uncertainties and are based on AU Optronics' current
    expectations.

[]  Actual results may differ materially from those expressed or implied in
    these forward-looking statements for a variety of reasons, including, among
    other things: the cyclical nature of our industry; our dependence on
    introducing new products on a timely basis; our dependence on growth in the
    demand for our products; our ability to compete effectively; our ability to
    successfully expand our capacity; our dependence on key personnel; general
    economic and political conditions, including those related to the TFT-LCD
    industry; possible disruptions in commercial activities caused by natural
    and human-induced disasters, including terrorist activity and armed
    conflict; and fluctuations in foreign currency exchange rates.

[]  In addition, any financial information contained herewithin is presented in
    conformity with accounting principles generally accepted in the Republic of
    China ("ROC GAAP"). Readers should be cautioned that these accounting
    principles differ in many material respects from accounting principles
    generally accepted in the United States of America ("US GAAP").

[]  Our release of financial forecasts and forward-looking statements at any
    particular time does not create any duty of disclosure beyond that which is
    imposed by law, and we expressly disclaim any obligation to publicly update
    or revise any forecasts or forward-looking statements, whether as a result
    of new information, future events or otherwise.

[]  Additional information as to these and other factors that may cause actual
    results to differ materially from AU Optronics' forward-looking statements
    or some of the major differences between ROC GAAP and US GAAP can be found
    in AU Optronics' Annual Report on Form 20-F with respect to the year ended
    December, 2009 filed with the United States Securities and Exchange
    Commission.

2 AUO Proprietary and Confidential

Consolidated Income Statement

Amount : NT$ Million Except Per Share Data
---------------------------------------------- -------- --------- -------- ------- --------- -------
                                          1Q'11              4Q'10         QoQ %       1Q'10
                                      ----------------- ------------------ ------- --------- -------
Net Sales                             93,230    100.0%  102,605    100.0%   (9.1%) 111,564   100.0%
Cost of Goods Sold                    (99,500) (106.7%) (107,142) (104.4%)  (7.1%) (97,294)  (87.2%)
                                      ======== ======== ========= ======== ======= ========= =======
Gross Profit (Loss)                   (6,270)   (6.7%)    (4,537)  (4.4%)    38.2% 14,270    12.8%
Operating Expenses                    (7,957)   (8.5%)   (6,543)   (6.4%)    21.6%  (6,141)  (5.5%)
                                      ======== ======== ========= ======== ======= ========= =======
Operating Income (Loss)               (14,227) (15.3%)   (11,080) (10.8%)    28.4%  8,129     7.3%
Net Non-operating Expenses              (364)   (0.4%)     (296)   (0.3%)    23.1%   (454)   (0.4%)
                                      ======== ======== ========= ======== ======= ========= =======
Income(Loss) before Tax               (14,591) (15.7%)   (11,375) (11.1%)    28.3%  7,675     6.9%
                                      ======== ======== ========= ======== ======= ========= =======
Net Income (Loss)                     (13,899) (14.9%)   (11,339) (11.1%)    22.6%  7,274     6.5%
                                      ======== ======== ========= ======== ======= ========= =======
Attributable to:
 Equity holders of the parent company (13,978) (15.0%)  (11,465)  (11.2%)    21.9%  7,103      6.4%
 Minority interest                       79       0.1%     126       0.1%  (37.4%)    172      0.2%
                                      ======== ======== ========= ======== ======= ========= =======
Net Income (Loss)                     (13,899) (14.9%)   (11,339) (11.1%)    22.6%  7,274     6.5%
                                      ======== ======== ========= ======== ======= ========= =======
Basic EPS (NT$)(a)                   (1.58)             (1.30)             21.9%   0.80
Operating Income + D and A           8,163     8.8%    10,942    10.7%   (25.4%) 30,842    27.6%
Unit Shipments (mn)(b)
 Large Size Panels                       28.4               28.0              1.3%    27.2
 Small and Medium Size Panels            43.5               52.9           (17.8%)    57.0


-- Unaudited, prepared by AUO on a consolidated basis

(a) Basic EPS was calculated based on the total weighted average outstanding
    shares of each quarter (8,827m shares in 1Q11, in 4Q10 and in 1Q10) by
    retroactively adjusting to stock dividend and stock bonus

(b) Large size refers to panels that are 10 inches and above


3 AUO Proprietary and Confidential


Consolidated Balance Sheet Highlights

-- Unaudited, prepared by AUO on a consolidated basis

(a) Short term debt referts to all interest bearing debt maturing within one
    year

(b) Calculated by dividing the average inventory into the annualized cost of
    goods sold during such period, then Multiplying by 365 days

Consolidated Cash Flow Highlights

Amount : NT$ Million
                               1Q'11    4Q'10    QoQ
                               -------- -------- --------
From Operating Activities      (11,242)   14,457 (25,700)
 Net Loss                      (13,899) (11,339)  (2,560)
 Depreciation and Amortization  22,389   22,022      367
 Net Change in Working Capital (19,543)    6,545 (26,088)
============================== ======== ======== ========
From Investing Activities      (15,350) (26,571)  11,222
 Capital Expenditure           (13,845) (27,612)  13,767
============================== ======== ======== ========
From Financing Activities         6,970   15,512  (8,542)
 Net Change in Debt               6,604   15,149  (8,544)
============================== ======== ======== ========
Net Change in Cash(a)        (19,936)    4,326 (24,262)


-- Unaudited, prepared by AUO on a consolidated basis

(a) In addition to cash generated from operating, investing and financing
    activities, net change in cash also included effect on currency exchange of
    foreign subsidiaries


5 AUO Proprietary and Confidential

Consolidated Revenues by Application


-- Unaudited, prepared by AUO on a consolidated basis


6 AUO Proprietary and Confidential

Large Panel -- ASP by Unit


--  Unaudited, prepared by AUO on a consolidated basis

--  Large size refers to panels that are 10 inches and above

--  Blended ASP in US$ was translated from NT$ based on average exchange rates
    announced by Directorate General of Customs, ROC Ministry of Finance of each
    respective quarter


7 AUO Proprietary and Confidential

Consolidated Shipments and ASP by Area


--  Unaudited, prepared by AUO on a consolidated basis

--  ASP per square meter in US$ was translated from NT$ based on average
    exchange rates announced by Directorate General of Customs, ROC Ministry of
    Finance of each respective quarter


8 AUO Proprietary and Confidential

Consolidated Small and Medium Panel Shipments and Revenues


--  Unaudited, prepared by AUO on a consolidated basis

--  Small and Medium size refers to panels that are under 10 inches


9 AUO Proprietary and Confidential

11 AUO Proprietary and Confidential


Capacity by Fab

-- Capacity based on monthly glass substrate input

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