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We propose an explicit numerical integration method based on matrix exponential operator for transient analysis of large-scale circuits. Solving the differential equation analytically, the limiting factor of maximum time step changes largely from the stability and Taylor truncation error to the error in computing the matrix exponential operator. We utilize Krylov subspace projection to reduce the computation complexity of matrix exponential operator. We also devise a prediction-correction scheme tailored for the matrix exponential approach to dynamically adjust the step size and the order of Krylov subspace approximation. Numerical experiments show the advantages of the proposed method compared with the implicit trapezoidal method.